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The Forum > Article Comments > Reining markets in > Comments

Reining markets in : Comments

By Geoff Davies, published 11/12/2013

The free market mantra is not about to disappear from the Australian political landscape - far from it - but really it's time some logic was brought to bear on this brutal ideology.

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I hardly call the identification of two egregious and glaring holes in your pamphlet "nitpicking", Geoff Davies.

>>There is no point debating your nitpicking.<<

And you do rather flatter yourself on the communication stakes. Waffle is waffle, wherever it is found.
Posted by Pericles, Friday, 13 December 2013 10:37:18 PM
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"The cost of housing is measured as the price of a new home (excluding land). Mortgage interest payments are excluded.”
This is bitterly ironic. It may be understandable from the perspective of statistical analysis, as investments fluctuate more than “ baskets of goods and services”, but I contend the investment in Land -even more than the whole real estate package- is the main driver of inflation.
Inflation in essence is an increase in the amount of money in the system, -without a commensurate increase in materials, goods, products or services. Land is an investment, but more to the point it's the most common -and the biggest- investment most 'ordinary' people make. Although not precisely accurate, remember the old adage about land: “they ain't making any more of it”.
In our credit based, fractional reserve system new money is borrowed into existence -and interest is charged on this new money.
This is bizarre.
The only logical justifications for income in any form is as a means of exchange, for Labour, Sacrifice or Risk. This premise makes the charging of interest on new money morally unacceptable; ie in a 10% fractional reserve system, 90% of the money borrowed involved no effort (apart from the stroke of a pen), no sacrifice was made (when one person lends to another, they sacrifice the purchasing power of the money lent) and the risk is illusory.
IOW, every time anyone signs up for a mortgage egregious amounts of money are introduced into the system, without any commensurate increase in materials, goods, products or services -and for the next quarter century interest is charged on this uniquely and completely FREE money.
This is the root cause of inflation. All other prices are dragged up by this mechanism.
I would suggest economists and statisticians ignore this simple fact for the same reason we have all ignored the air we breathe. It's just “there” (the essence of conservatism).
It makes for an interesting comparison; CO2 and New Money...
That should start the dogs barking.
Posted by Grim, Sunday, 15 December 2013 4:54:57 AM
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http://republicbroadcasting.org/if-john-kennedy-had-lived/

The day that John Kennedy died, November 22, 1963, was the beginning of the end for America. These same forces, the interlocking directorates of the military industrial complex, the Federal Reserve, the major oil companies and the media that they control, continued to suck the life out of America to the point of where we stand today, a shell of our former country.
Conclusion

If in the last year of JFK’s presidency, he hadn’t offered such hope to the American people and to the future of the country, I would have lost interest in the life of JFK and his subsequent assassination a long time ago.

I falsely held out the hope that the 50th Anniversary of his death would rekindle a curiosity about who killed JFK and why and then subsequently link that knowledge into today’s America. This could have been the impetus for change in America. Alas, the elite controlled the narrative this fall with plethora of documentaries which lead away from the truth that there was a conspiracy to kill JFK. As a result, the country’s interest will continue to wane and with it, the belief that JFK was killed as a result of a conspiracy.

In 1993, 80% of the country believed that JFK was killed as the result of a conspiracy. With the rash of media propaganda, that number has reduced to 61%. The elite have weathered the storm and continue unabated on their journey towards sucking the life out of this country. They will continue to do so until there is nothing left and we are thrown onto the junk pile of history.
Posted by one under god, Sunday, 15 December 2013 9:44:51 AM
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Wow. Can’t believe I just agreed with every word that Grim just said. Go Grim! We’ll make a libertarian of you yet. All you need now, to set the keystone in the arch of your critique of crony capitalism, is to understand that it’s not “our” money system. It’s the State’s. The whole fractional reserve scamola is a political creation, a creature of statute, by which the State exempts itself and the banks from the law against fraud, in return for a cut of the loot.

A very readable account in plain English is here:
“What Has Government Done to Our Money?” by Murray Rothbard
http://mises.org/books/whathasgovernmentdone.pdf

“The Mystery of Banking” by Murray Rothbard
http://mises.org/Books/mysteryofbanking.pdf

Geoff
Look we are all agreed that there is much BS going by the name of economic theory, and that the so-called right wing neo-classical school is as full of it as the communists.

But just because the bullsh!t-artists’ intellectual methodology is nothing but arbitrary moralising slathered in jargon and fallacies, doesn’t mean that:
a) it's okay for you to do the same, or that
b) everyone else is doing the same thing.

We have just established that the problem isn’t that *I* have failed to comprehend what you’re saying, it’s that *you* have.

My questions go to the core of your economic theory and answering them will either prove me or you wrong, which is why you haven’t answered them – because you can’t, without proving your own theory wrong, and you know it.

“It's an argument for legitimate productive business rather than parasitic exploitation. “

I asked you how you distinguish parasitic exploitation from legitimate productive or legitimate government business, and you refuse to answer, remember?

Why bother discussing it if you don’t even care that what you’re saying is demonstrably untrue?

Why don’t you guys just try to read the first chapter of Rothbard: http://mises.org/Books/mespm.PDF , see if there’s anything you can disprove as illogical, and try out for fit, economic theory that is not demonstrably illogical and self-contradictory as we have just established yours is.
Posted by Jardine K. Jardine, Monday, 16 December 2013 2:25:09 PM
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WHAT..they are trying to..get us angry
its called divide and con*queer..under the GUISE..of reigning 'markets',,in..but the real..target=you*

http://rss.infowars.com/20131124_Sun_Alex.mp3
the beginning..explains the war..between the baddies/the baddies
the middle explains how federal..police are corrupting local police...and how they..assaulted alex..by hurting a child
or your savings..or your job..or your pride.

landless serfs+wage slaves..=their our/your..end
http://forum.onlineopinion.com.au/thread.asp?discussion=6152&page=0

[they will do much the same..to govt
[recall..goerge/blair/john..REALLY believed satans spin

and note..please..the big ending..is important too
perhaps more..try to focus..on what is said

thats what i like about files..you can rewind..to make sure
thats all tony needs do..check/confirm..dont act fast..not furious

anyhow the lions lay..with thee sheep?
http://forum.onlineopinion.com.au/thread.asp?article=15820&page=0
Posted by one under god, Friday, 20 December 2013 8:13:06 AM
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