Politics vs. Pragmatics

[Anonymous No.587500]

Why is it that every economically illiterate 16 year old libertarian fag who beats the ham to Ron Paul posters wants to end the fed.

Are they retarded? are they uneducated? are they as paranoid about global jewish conspiracy as /pol/ that answer is yes.

Politics should not be brought into the necessity of a central bank, too many faggots speak in political absolutes instead of doing a litmus test of what works.

[Anonymous No.587509]

>Are they retarded? are they uneducated?
Why are you delusional religious fundamentalist teenagers so angry?

Keynesian economics does not work.

[Anonymous No.587510]

loltarians always take the most extreme and exaggerated view points about government, but they do make really good and strong arguments about virtually every issue.

They are correct that the fed is a corrupt and completely unregulated jewish circle jerk that doesn't operate with the best interest of the country in mind.

The very fact that it requires a congressional vote just to audit the fed shows that the system is broken.

[Anonymous No.587511]

>>587510
The FED is a legislative delegation to the Executive branch. I find it surprising Congress doesn't want to oversee the FED even more.

[Anonymous No.587519]

I feel like you're approaching this from the wrong angle. If you're educated in the matter and understand how much power the fed has why wouldn't you want to see it disbanded.

The act under discretion and because of that don't have to answer for any of the decisions they make. There's no question they have too much power and too imply otherwise is ignorant.

[Anonymous No.587524]

Based Ron.

You'll always be with us...
In our hearts..

>"For God so loved the world, that He gave His only begotten Son, that whoever believes in Him shall not perish, but have eternal life

[Anonymous No.587528]

>>587509
>Keynesian economics does not work
>probably lives in a country where keynesian economics has provided economic stability

[Anonymous No.587541]

>>probably lives in a country where keynesian economics has provided economic stability
LOL I LIVE IN AMERICA

LOL YOU DUMB FAGGOT

ENJOYING THE HOUSING BUBBLE COLLAPSE?

You people are so incredibly fucking retarded? Even after all of the bubbles and collapses you still pretend it's stable.

Why haven't we euthanized you people yet?

[Anonymous No.587544]

>>587524
B A S E D
A
S
E
D

[Anonymous No.587545]

>>587528
Keynesian economics is weak. Many countries are at 40-55% government spending as a % of GDP, and people STILL think deficit spending is ok and not the problem.

[Anonymous No.587547]

>>587545
BUH BUH MUH AUSTERITY THINK OF THE CHILDREN

[Anonymous No.587563]

I'm happy to see this kind of talk.
Whatever your loyalty, it's thinking men who can improve their situation, instead of just 'doing what we're told'.

[Anonymous No.587773]

>>587544
>Gold reserves cannot be manipulated
you're in denial m8

[Anonymous No.587777]

>>587528

>considers the economic state of most Western nations "stable"

[Anonymous No.587782]

>>587777
Haven't you heard 1.27 trillion dollars worth of toxic debt that can be called upon at any time is the "new stable"

[Anonymous No.587809]

>>587500
If this thread is about separating "politics" from "pragmatics" why is everyone being so ideological? We need sound realistic economic theories to aid in making predictions on the stock market, we need to be practical.

As long as there is a government there will be a need for a central bank and I believe Keynes was making an attempt to determine how the central bank should best be run. During the good times you're supposed to be a monetarist, lowering government debt and providing a good environment for business, preparing for the inevitable crisis that will be caused by the government but which only the government can solve using keynesian principles. Government spending should also be heavily scrutinized. Building hoover dam? Yeah.. maybe.... Building roads in the desert to nowhere just to create jobs? Nope, it doesn't work like that.

http://gutenberg.net.au/ebooks03/0300071h/printall.html

chapter 4 part III

> there is no objection to be raised against the modern classical theory as to the degree of consilience between private and public advantage in conditions of perfect and imperfect competition respectively

Monetarism, classical, neoclassical, austrian and chicago school economics are all right, but only if you take into account their inaccuracies and inefficiencies. These inaccuracies do not mean they are wrong, it is just that due to phenomena like sticky prices and imperfect information their effects are usually just one factor among many and only become apparent in the long term.

For billions of years life has been driven by natural selection and now freed from the burden of survival by technology we now have to rely on our intellect to provide our drive. Capitalism achieves this, it drives people to do more even when they already have everything. Whereas a dictator like Mugabe or Kim Jung Un is content for things to stay as they are, a millionaire is often looking for ways to make more. pic related

[Anonymous No.587982]

no central authority?

no thanks. I wish that people in government worked for free, though. It should be seen as a public duty and not a career like it was in ancient greece

[Anonymous No.588009]

>>587524
Rand is a shill who is a shadow of his father.

[Anonymous No.588180]

>>587544
Lol the gold standard has many shortcomings. For instance look at the deflation in the 1930s that occurred, farmers who needed prices to remain a certain level couldn't sell enough to feed their family.

"Some economic historians, such as Barry Eichengreen, blame the gold standard of the 1920s for prolonging the economic depression which started in 1929 and lasted for about a decade.[28] Adherence to the gold standard prevented the Federal Reserve from expanding the money supply to stimulate the economy, fund insolvent banks and fund government deficits that could "prime the pump" for an expansion. Once off the gold standard, it became free to engage in such money creation. The gold standard limited the flexibility of the central banks' monetary policy by limiting their ability to expand the money supply. In the US, the Federal Reserve was required by law to have gold backing 40% of its demand notes.[29] Others including former Federal Reserve Chairman Ben Bernanke and Nobel Prize-winner Milton Friedman place the blame for the severity and length of the Great Depression at the feet of the Federal Reserve, mostly due to the deliberate tightening of monetary policy even after the gold standard.[30] They blamed the US major economic contraction in 1937 on tightening of monetary policy resulting in higher cost of capital, weaker securities markets, reduced net government contribution to income, the undistributed profits tax and higher labor costs.[31] The money supply peaked in March 1937, with a trough in May 1938.[32]"

from wikipedia.

The fed can do good shit and do bad shit, and even the boogeyman himself Ben bernake admitted the shortcomings, along with friedman

[Anonymous No.588182]

>>587809
Best response in the thread. Articulated my point more eloquent than my stoned piece of shit could. Lol.

All schools are right in certain regards, it's all about the right blend of them for the right situation

[Anonymous No.588387]

>>587782
>debt that can be called upon at any time

And that's how I know you have absolutely no idea what you're talking about.

>>587809

This guy has it right for the most part. All "schools" (which no actual economists refer to them as btw) incorporated into mainstream economic thought (sorry Marxists and modern Austrians) are essentially correct under certain circumstances and should be used when said circumstances are met.

[Anonymous No.588416]

>>587500
>hey guys the corrupt governmental system ruled by a few cannot be trusted
>lets make a banking system ruled by a few to isolate the it from the corrupt government ruled by a few

[Anonymous No.588428]

>>587773
>tfw oil is magically different from gold somehow

[Anonymous No.588431]

>>588387
>>>587782
>>debt that can be called upon at any time
>And that's how I know you have absolutely no idea what you're talking about.

i kek'd at that too

in b4 china forecloses on texas amirite