tag:blogger.com,1999:blog-2761684730989137546.post6890241252668587024..comments2024-03-28T20:28:01.733-04:00Comments on Mike Norman Economics: Bill Mitchell— The BIS should be defunded and then dissolvedmike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger13125tag:blogger.com,1999:blog-2761684730989137546.post-78378520906722193262018-07-01T16:41:21.438-04:002018-07-01T16:41:21.438-04:00Details, Bob. You've said nothing about HOW, f...Details, Bob. You've said nothing about HOW, for example, you'd justly eliminate deposit insurance.Andrew Andersonhttps://www.blogger.com/profile/14296407661618321637noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-3854706471901269212018-07-01T16:17:12.522-04:002018-07-01T16:17:12.522-04:00Andrew Anderson:
It's not clear how PROPOSING...Andrew Anderson:<br /><br />It's not clear how PROPOSING the abolition of violence, fraud and theft and the end of the boom/bust cycle amounts to "stupid, cruel and unjust Austrian Economists' 'solutions'". Further, since most problems humans face these days are the result of "progressive", socialist and/or Keynesians policies, it's not clear how saving humanity from them is "stupid, cruel and unjust". It would seem that the heartless and vicious people who inflict those policies on the innocent are the ones who are stupid, cruel and unjust.Bob Roddishttps://www.blogger.com/profile/17263804608074597937noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-73482686049330008342018-07-01T15:12:34.439-04:002018-07-01T15:12:34.439-04:00No Bob, from your own finger tips so people can he...No Bob, from your own finger tips so people can hear how stupid, cruel and unjust Austrian Economists' "solutions" are. And from a person who insult's other people's intelligence!<br /><br />Don't be shy, Bob. Reveal yourself.Andrew Andersonhttps://www.blogger.com/profile/14296407661618321637noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-84661888526880239132018-07-01T12:43:01.223-04:002018-07-01T12:43:01.223-04:00Well then Bob, let's hear your proposals for e...<i>Well then Bob, let's hear your proposals for eliminating privileges for the banks including deposit insurance?</i><br /><br />I thought it was clear around 1927 that the Austrian school wanted to eliminate privileges for banks including deposit insurance. <br /><br />I realize that there are no pictures for slower folks, and that these books are long, but they are free to download and read.<br /><br />https://mises.org/sites/default/files/Human%20Action_3.pdfBob Roddishttps://www.blogger.com/profile/17263804608074597937noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-16357594059598233902018-06-30T10:41:07.697-04:002018-06-30T10:41:07.697-04:00Bill uses "turning point" twice in the p...Bill uses "turning point" twice in the post.<br /><br /><i>The US government largely maintained their fiscal stimulus and growth continued unabated once the turning point was passed.</i><br /><br /><i>As we saw in the early days of the GFC, the turning point when the balance sheet restructuring begins can be sharp, substantial and savage.</i> <br /><br />The context is without explanation of the causality involved.<br /><br />That doesn't imply to me that human action was not involved, as in "an act of God," that is, an unforeseeable shock, that is was otherwise unforeseeable as not man-made.<br /><br />But I don't think that is germane here. The point is not so much the cause of the turning points but rather the reaction to them when they became evident. They should have noticed if they had the right data and were paying attention with the right analysis.<br /><br />Bill's point seems to be that the analysis missed the turning points, i.e., change in sign of the derivative of the curve, and so they did not adapt to changes that were becoming evident in the data.Tom Hickeyhttps://www.blogger.com/profile/08454222098667643650noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-63781123946299378372018-06-30T08:49:28.472-04:002018-06-30T08:49:28.472-04:00Tom do these “turning points” happen by random cha...Tom do these “turning points” happen by random chance mutation? These are like “acts of God” or something?<br /><br />Or do people do something.. Bill is treating these phenoms as non-man made here with this metaphor... they are man made...Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-91713069575110920402018-06-30T03:38:02.233-04:002018-06-30T03:38:02.233-04:00Well then Bob, let's hear your proposals for e...Well then Bob, let's hear your proposals for eliminating privileges for the banks including deposit insurance?Andrew Andersonhttps://www.blogger.com/profile/14296407661618321637noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-86741666230498819322018-06-29T15:12:08.534-04:002018-06-29T15:12:08.534-04:00By opposing inexpensive fiat, Bob, you are support...<i>By opposing inexpensive fiat, Bob, you are supporting the current two tiered money system whereby fiat use is largely confined to the banks and the non-bank private sector is largely confined to using bank deposits.</i><br /><br />And if I opposed putting olives on pizza it would really mean that I support putting olives on pizza. <br /><br />Your skills at BS-ing and sidestepping the obvious are getting worse as the years go by.<br /><br />Snow is hot. <br />The sky is brown. <br />You can stand while sitting down.Bob Roddishttps://www.blogger.com/profile/17263804608074597937noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-33353834012220322992018-06-29T10:34:03.164-04:002018-06-29T10:34:03.164-04:00Matt. "turning point" is precisely defin...Matt. "turning point" is precisely defined in math (calculus) as the point at which a derivative changes sign. It can be either an absolute maxima for the curve or a relative maxima.<br /><br />I don't know how Bill was thinking when he used the terms, but economists generally think in terms of curves and maxima-minima.Tom Hickeyhttps://www.blogger.com/profile/08454222098667643650noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-55271167721671482602018-06-29T09:30:55.482-04:002018-06-29T09:30:55.482-04:00By opposing inexpensive fiat, Bob, you are support...By opposing inexpensive fiat, Bob, you are supporting the current two tiered money system whereby fiat use is largely confined to the banks and the non-bank private sector is largely confined to using bank deposits.Andrew Andersonhttps://www.blogger.com/profile/14296407661618321637noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-43403793818145229532018-06-29T06:35:43.591-04:002018-06-29T06:35:43.591-04:00“US government largely maintained their fiscal sti...“US government largely maintained their fiscal stimulus and growth continued unabated once the turning point was passed.“<br /><br />What is a “turning point”? It’s a metaphor from Bill here...Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-40998457161460337582018-06-28T16:07:06.002-04:002018-06-28T16:07:06.002-04:00Yes, and the BIS was founded in 1930, while the gl...Yes, and the BIS was founded in 1930, while the global monetary system was on a gold standard. While the gold standard was abandoned by most countries, international settlement remained until President Nixon shut the gold window in August, 1971. Prior to that, whoever controlled gold controlled the financial system.<br /><br />From Quigley's account it appears that the masters of the universe simply engineered a new system of control as the old one was collapsing, similar to the passing of the baton from the feudal lords to the owners of capital during the transition from the agribultural age to the industrial age.<br /><br />As the Vietnamese proverb goes, "Flies change; dung-hill remains same."Tom Hickeyhttps://www.blogger.com/profile/08454222098667643650noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-7379165049327363372018-06-28T15:18:21.283-04:002018-06-28T15:18:21.283-04:00Wow! Our wonderful (and modern!!) fiat funny mone...Wow! Our wonderful (and modern!!) fiat funny money system is just a ruse for the Deep State and the .01% to loot and control us. WHO KNEW??Bob Roddishttps://www.blogger.com/profile/17263804608074597937noreply@blogger.com