An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
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Wednesday, April 13, 2022
“Money Printing!”
What does this Art Degree figure of speech mean anyway?
"Money printing" is not a figure of speech, but rather an example of synecdoche. This is because some part of the creation of money ends up as ink and paper.
Synecdoche (/sɪˈnɛkdəki/ sin-NEK-də-kee) is a type of metonymy: it is a figure of speech in which a term for a part of something is used to refer to the whole (pars pro toto), or vice versa (totum pro parte). The term comes from Ancient Greek συνεκδοχή.
Examples in common English use are suits for businessmen, wheels for car, and boots for soldiers. The use of government buildings to refer to their occupants is metonymy and sometimes also synecdoche. "The Pentagon" for the United States Department of Defense can be considered synecdoche, because the building can be considered part of the bureaucracy. Similarly, "The White House" is also an instance of synecdoche since it is widely used to signify the office of the U.S. president. In the same way, using "Number 10" to mean "the Office of the Prime Minister" (of the United Kingdom) is a synecdoche. Similarly, the names of capital cities referring to the sovereign states they govern follows this pattern.
As for "figure of speech", the definition of that is: "a word or phrase used in a non-literal sense for rhetorical or vivid effect".
Because there is some actual money printing taking place, it is incorrect to refer to "money printing" as a "figure of speech".
The word “money” itself is a figure of speech it is a metonym..,,
It’s a transliteration of the name of the goddess in the Roman pantheon Moneta who was the symbolic protectress of funds..,
Her temple (locus of information) in Rome was where the Roman numismatic system was administered…
People use the figure of speech “money printing” because they are Art Degree morons ie substandard intelligence people too dumb and lazy to understand the Finance and Accounting Science.. they are the C and maybe B students who then go on to university… and get a degree in finger painting or wtf.,,
They should be barred from dealing with any of these matters.,,
This is more or less proper technical representation of what is happening…
Then the Art Degree people get 30 seconds into reading it and they may have to start using more than 0.0001% of their brains and it gets too hard for them and they just throw their hands up and say “youre just printing money!” or some stupid shit like that..,
Rather than then proceed to do the hard work and training to reach proper scientific understanding of the abstractions…
You're right, synecdoche is a figure of speech. I stand corrected. However, I will continue to use it in the sense that I explained.
Are you dumb?
I'm smart in spots.
As for knowledge of finance, accounting, and economics, I'm one of the few people in the world that called both the 2008 recession and the 2009 recovery. The latter I called to the exact day. I also had the courage of conviction to act on my knowledge, and I made enough money off that to retire at the age of 40.
Over a 20-year period, I made a CAGR of 18% in a Canadian stock market that produced 6% over the same time period. Most of my returns have been alpha returns. Alpha is zero-sum, each additional point of alpha is harder to attain than the one before it. As regards returns, I'm in the top few percent.
So in my view, it's now how much knowledge you have, but if the knowledge you have has predictive value. In my case it does, but I can't say the same for others.
I also did ten years in the study of comparative religion at the same time as I was doing the above.
(I used to read 18 hours a day starting at six in the morning. I would learn accounting, finance, and economics till six in the evening, then from six in the evening to midnight I would study religion.)
"Borrowing from the central bank."
ReplyDeletehttps://en.wikipedia.org/wiki/Money_burning
ReplyDeletePlease promote as a figure of speech.
"Money printing" is not a figure of speech, but rather an example of synecdoche. This is because some part of the creation of money ends up as ink and paper.
ReplyDeleteSynecdoche (/sɪˈnɛkdəki/ sin-NEK-də-kee) is a type of metonymy: it is a figure of speech in which a term for a part of something is used to refer to the whole (pars pro toto), or vice versa (totum pro parte). The term comes from Ancient Greek συνεκδοχή.
Examples in common English use are suits for businessmen, wheels for car, and boots for soldiers. The use of government buildings to refer to their occupants is metonymy and sometimes also synecdoche. "The Pentagon" for the United States Department of Defense can be considered synecdoche, because the building can be considered part of the bureaucracy. Similarly, "The White House" is also an instance of synecdoche since it is widely used to signify the office of the U.S. president. In the same way, using "Number 10" to mean "the Office of the Prime Minister" (of the United Kingdom) is a synecdoche. Similarly, the names of capital cities referring to the sovereign states they govern follows this pattern.
As for "figure of speech", the definition of that is: "a word or phrase used in a non-literal sense for rhetorical or vivid effect".
Because there is some actual money printing taking place, it is incorrect to refer to "money printing" as a "figure of speech".
Yo,
ReplyDelete“ Synecdoche (/sɪˈnɛkdəki/ sin-NEK-də-kee) is a type of metonymy: it is a figure of speech in which…”
You just put this in then you say
“ "Money printing" is not a figure of speech”
Are you dumb?
The word “money” itself is a figure of speech it is a metonym..,,
ReplyDeleteIt’s a transliteration of the name of the goddess in the Roman pantheon Moneta who was the symbolic protectress of funds..,
Her temple (locus of information) in Rome was where the Roman numismatic system was administered…
People use the figure of speech “money printing” because they are Art Degree morons ie substandard intelligence people too dumb and lazy to understand the Finance and Accounting Science.. they are the C and maybe B students who then go on to university… and get a degree in finger painting or wtf.,,
They should be barred from dealing with any of these matters.,,
Here the Fed just put out a technical paper in Accounting abstractions:
ReplyDeletehttps://libertystreeteconomics.newyorkfed.org/2022/04/the-feds-balance-sheet-runoff-and-the-on-rrp-facility/
This is more or less proper technical representation of what is happening…
Then the Art Degree people get 30 seconds into reading it and they may have to start using more than 0.0001% of their brains and it gets too hard for them and they just throw their hands up and say “youre just printing money!” or some stupid shit like that..,
Rather than then proceed to do the hard work and training to reach proper scientific understanding of the abstractions…
They should all be banned..,
Quantitative Easing = "they're swapping money!"
ReplyDeleteMatt Franko,
ReplyDeleteYou're right, synecdoche is a figure of speech. I stand corrected. However, I will continue to use it in the sense that I explained.
Are you dumb?
I'm smart in spots.
As for knowledge of finance, accounting, and economics, I'm one of the few people in the world that called both the 2008 recession and the 2009 recovery. The latter I called to the exact day. I also had the courage of conviction to act on my knowledge, and I made enough money off that to retire at the age of 40.
Over a 20-year period, I made a CAGR of 18% in a Canadian stock market that produced 6% over the same time period. Most of my returns have been alpha returns. Alpha is zero-sum, each additional point of alpha is harder to attain than the one before it. As regards returns, I'm in the top few percent.
So in my view, it's now how much knowledge you have, but if the knowledge you have has predictive value. In my case it does, but I can't say the same for others.
I also did ten years in the study of comparative religion at the same time as I was doing the above.
(I used to read 18 hours a day starting at six in the morning. I would learn accounting, finance, and economics till six in the evening, then from six in the evening to midnight I would study religion.)
Like I said, smart in spots.