WTF With Great Britain?

[Confluence]

The Soviet-backed college professors finally got enough people through the system to stupify the country.

It was really that hard to stupefied most folks.

 

[Steeltime]

A growing economy does need an increasing supply of money but Milton Friedman had the idea to simply increase the money supply a flat 4% a year and things would work themselves out.

Yep. What some believe "unbacked currency" means is a currency not backed by precious metals, but what economists mean is a currency unfixed to the economy's output. If the GDP increases by 4%, a 4% increase in currency will not cause inflation and indeed basically cannot cause inflation.

As of 1980 when I was studying economics in college ... uhh, grade school ... the mystery was how the US economy was in a recession yet inflation was exploding, something called "stagflation." Friedman had warned decades earlier that printing money to try and fuel growth was going to cause inflation. Jimmy printed money to try and trigger growth to start economic growth and of course his theory failed and of course printing money in a recession caused inflation.

I became a Republican for life in college. I saw my prospects under Jimmy Carter, compared to Ronald Reagan. The choice was pretty damn clear - and still is. Trump vs. Biden? Who the **** would choose Biden??

 

[Ron Burgundy]

Yep. What some believe "unbacked currency" means is a currency not backed by precious metals, but what economists mean is a currency unfixed to the economy's output. If the GDP increases by 4%, a 4% increase in currency will not cause inflation and indeed basically cannot cause inflation.

As of 1980 when I was studying economics in college ... uhh, grade school ... the mystery was how the US economy was in a recession yet inflation was exploding, something called "stagflation." Friedman had warned decades earlier that printing money to try and fuel growth was going to cause inflation. Jimmy printed money to try and trigger growth to start economic growth and of course his theory failed and of course printing money in a recession caused inflation.

I became a Republican for life in college. I saw my prospects under Jimmy Carter, compared to Ronald Reagan. The choice was pretty damn clear - and still is. Trump vs. Biden? Who the **** would choose Biden??

Exactly. If you pump more money and spending into the economy without a corresponding increase in the supply of good and services, then you get inflation. Too many dollars chasing too few goods and services.
Biden proves every day that supply side economics works.

 

[ZonaBurgh]

Such a wise man. I see these old clips of this dude, Reagan and others and it’s like where did critical thinking go? Is it too woke, does it get canceled, or we are just to dumb connected to our device we can’t see?

Idiocracy comes to mind. The young have always been idealists, but generally grow out of it as they age. Now, not so much, with logic taking a back seat to the latest feigned offense.

 

[Confluence]

Idiocracy comes to mind. The young have always been idealists, but generally grow out of it as they age. Now, not so much, with logic taking a back seat to the latest feigned offense.

It's the liberal arts educations of the past few decades: as less and less people have real world experiences, and more have government, health and education jobs AND positions in communications, media, technology, etc. a smaller percentage of the population relies on good old common sense and hard work.

 

[madinsomniac]

Yep. What some believe "unbacked currency" means is a currency not backed by precious metals, but what economists mean is a currency unfixed to the economy's output. If the GDP increases by 4%, a 4% increase in currency will not cause inflation and indeed basically cannot cause inflation.

As of 1980 when I was studying economics in college ... uhh, grade school ... the mystery was how the US economy was in a recession yet inflation was exploding, something called "stagflation." Friedman had warned decades earlier that printing money to try and fuel growth was going to cause inflation. Jimmy printed money to try and trigger growth to start economic growth and of course his theory failed and of course printing money in a recession caused inflation.

I became a Republican for life in college. I saw my prospects under Jimmy Carter, compared to Ronald Reagan. The choice was pretty damn clear - and still is. Trump vs. Biden? Who the **** would choose Biden??

I find few Democrats who understand inflation and the negative impacts on savings and overall economic health… inflation mostly favors the super rich that are invested in inflation proof assets… almost all of the Dems economic ideals are hyper inflationary, from increasing minimum wage, to crippling the fossil fuel industry… they are patsies of the 1%rs they claim to despise … they simply live off tge Hollywood depictions of Democrats vs Republicans where all these 1% rs are fat white guy Republicans who are basically Monty Burns… when the reality is a lot of the hyper elite rich people are either foreign and have no real American ties or democrats these days… the old 1960’s social structures are long gone

 

[Djfan]

There is a lot of power and wealth to be had by the destruction of western governments. Remove the middle class and the government will be the answer to the evils left over. As long as there is a middle class, big government will be the bad guy.

Simple.