economy..all I know

[horsepwr]

I'm no economist. I do know a little about markets, demographics, trade (supply and demand). This post would've been much more passionate had I not been interupted, but if I can get back to why I wanted to take a minute on the subject.
I don't believe, for 1 sorry second, that the government has helped 1 damn sector, section, market, or any aspect of the economy. What has gone on has been a complete false front. Regulation and government have no place in the economy. You can't study the economy. Well, I take that back. You can study it all you want, but it makes no difference what ultimately becomes of an economy. Math and science do not lie. But, math nor science can be applied to forecast the economy. It's like trying to change the weather, or climate. Both can be studied, but they won't enter a lab for you to poke and prod. The economy is a force as large as the climate and is driven by so many uncontrolled variables that it's literally stupid to watch some government official even begin to say that they'll fix this or that with the economy. The only fix is to let it be. Laissez faire. If this still was the way of the greatest economy of all time, there wouldn't still be so many long faces.
The New Deal. Death to the great American economy, and to the gold standard. Enter government, and it went to hell before a century could even go by.
Government and the great free market. We haven't been a free market since FDR. I think about 20yrs before FDR even. Free market. We all win.

I'm just so tired of seeing all the idots. Like I said. I'm no economist. I do believe in free market though. We've read about times of free market. Those were good times. I almost wrote, "what scares the shit out of me..." but no. I'm not scared. We're not drifting back towards a free market system. So what has my attention, rather. Is all this government regulation on our economy, and how bad it might get. Most of us will get to see it in our lifetime. I hate it for our children. And I hate it for the parts of this country that are in the worst shape.

[straydoglogic]

Re: economy..all I know

Good post. Check this out.

http://en.wikipedia.org/wiki/Austrian_School

http://www.youtube.com/watch?v=MnekzRuu8wo

[straydoglogic]

Re: economy..all I know

Eh, have a couple more.

http://www.youtube.com/watch?v=EpATNp5DjYI

http://www.youtube.com/watch?v=v4LiIWdFkIU&feature=related

[horsepwr]

Re: economy..all I know

Exactly. Appreciate the links! Jsjs mentioned the Austrian School of Economics to me before.
That's it there. Those against an actual free market believe incorrectly.

[JsJs24]

Re: economy..all I know

Exactly. Appreciate the links! Jsjs mentioned the Austrian School of Economics to me before.
That's it there. Those against an actual free market believe incorrectly.

The Austrian School is the only one that discusses economics in the correct since. The mainstream and Keynesian schools focus on complicated high level math to project what will happen, whereas the Austrians discuss the Human Axiom, that of human actions which cannot be predicted accurately and make decisions based in order of their highest needs first.

Read up on the Austrian School of Economics. Even my brother who is an economics professor believes the Austrian School is superior to all others. The problem is they don't teach it in school. Some of the greatest economists were Austrians, most notably Friedrich Hayek and Ludwig von Mises. The most successful and largest private company in the world, Koch Industries, uses the Austrian approach to guide their business. Koch founded and wrote a book on the business management model he calls "Market Based Management." Ron Paul is also of the Austrian School.

This is my passion, economics and philosophy that is. And after learning more about all the different schools of thought, the Austrian School is the only one that seems to apply to the free market. Now of course they preach the gold standard quite a bit, but what they are saying is that a currency should be backed by a tangible asset with value such as gold and silver. Too many people forget that our country had always had a gold standard currency until the bankers convinced the government to get off of it.

As for free markets, the Austrian School favors them and suggests minimum government intervention. There has to be some regulations and laws of course, but for the most part the government should stay out and let the market forces work. The Austrians suggest the government stay out of a recession with the exception of cutting taxes and the market will in time correct itself. This is basically what Reagan did, and it did take some time to realize it was working but when it proved that it worked the outcome was a highly prospering economy. But the problem is the people don't want the government to do nothing, instead they think the government should intervene to try and fix things, but that is exactly what makes the recession worth, at least when they intervene with spending and bailouts the way this administration is doing. However, this is their great chance to spend ****ive amounts of money, even though they couldn't care less if the economy recovers. The politicians today would rather see us in a long and deep depression or recession so they can keep spending money and regulating business. Remember, the government doesn't like business, they don't like competition, and they don't like things they can't control. It is a power grab to control everything.

[horsepwr]

Re: economy..all I know

So true Js. Most in power right now are in complete opposition to a free market system and believe in the Marx theory of economics. Of course. It's no secret. Hence all the government intervention and decisions recently.
After Reagan, the economy was running away. Shooting through the clouds. Look what the government has brought us. I'm not saying that the Austrian way, the true free market wouldn't crash, but it wouldn't earn a depression title. There is too much demand and too much to offer for it to be held down for a decade.

The choices of our government are indeed choices of a control hungry body of officials. control. There are some things that man can not control. America's economy, as a whole, is one of those uncontrolables.

[JsJs24]

Re: economy..all I know

So true Js. Most in power right now are in complete opposition to a free market system and believe in the Marx theory of economics. Of course. It's no secret. Hence all the government intervention and decisions recently.
After Reagan, the economy was running away. Shooting through the clouds. Look what the government has brought us. I'm not saying that the Austrian way, the true free market wouldn't crash, but it wouldn't earn a depression title. There is too much demand and too much to offer for it to be held down for a decade.

The choices of our government are indeed choices of a control hungry body of officials. control. There are some things that man can not control. America's economy, as a whole, is one of those uncontrolables.

I wouldn't say they all support the Marxist school of thought, it is actaully the Keynesian school they believe in. And yes we would have down times in a true free market too because you still have the business cycle. The business cycle has ups and downs, but the market will always correct itself. A recession is the markets way of saying it was overinflated and needs to correct itself to a normal level. The business cycle has boom and bust periods. These are also known as expansions and recessions (contractions). Read up on the business cycle for a better understanding of how market forces work. But you have the right idea, keep up the reading.

[trip]

Re: economy..all I know

I'm a KISS person, GDP = C + I + G + NIE

[JsJs24]

Re: economy..all I know

I'm a KISS person, GDP = C + I + G + NIE

That is one way of defining GDP. I assume you used NIE to represent Net Exports? Another way to write it is GDP = C + I + G + X - M, where X-M = net exports, X being exports and M being imports. Do I understand you correctly?

So are you saying that you are a fan of GDP as in that is the most important factor to consider in economics? I contend that GDP is critical, yet one must be a bit naive to believe the numbers the government releases. Just this morning I heard an economist on talk radio saying the numbers are likely to be adjusted to make an administration look good, or the economy for that matter, especially during an election year. But at any rate, the GDP is what the government and markets use as an indicator of the economy. As for me, I favor supply and demand, unemployment, and the dollar as solid indicators of the shape of the economy, but unemployment can be adjusted the same as GDP. Here's the problem, we are currently in a recession regardless of what the government says, GDP indicates, or mainstream economists suggest. They base their claim that we are out of the recession from a positive GDP for two consecutive quarters, yet some economists point to increasing unemployment as another method to determine a recession. That is what I believe makes the most since. Sure GDP can rise, but again, when it is so minute how is one to believe the numbers are accurate, plus stimulus and temporary government jobs give a false perception from reality. Unemployment is not going down, but instead has gone up. In addition to this we are also in a liquidity trap, which of course is caused by the government. They think that just because they lower interest rates to near zero, businesses will start to borrow money again, but that has not happened, which further strengthens my claim that we are in a long recession. Next we will see the second part of the W shape recession which will be the double dip, but I would disagree, maintaining that we never came out of the first one.

[trip]

Re: economy..all I know

no, lol, i'm saying in a KISS person

so, when i think about it or discuss it etc., this is at the top of the list, like one plus one is two type of thing

so, for me this is the basis for discussion

oh, i'm s usaa, united states of american airlines, imho, our economy as a whole will mimic the airline industry after nine eleven

ie, a long mofo of a grind