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[quote user="Adam Martin"] There happens to be a human cost to all of this. You along with the right-wing fascists like Paul Ryan are itching to strip millions of people of their healthcare, food security, jobs, and other safety nets that the majority of Americans support and have fought for. Doesn't matter if millions starve to death
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[quote user="Adam Martin"] Yeah, like $9,000,000 homes, or crappy Chinese goods. Without a stimulus, or a bailout the country definitely would have been plunged into a major economic depression. The amount of wealth the Federal Reserve has to pump into the economy just to keep it breathing is staggering. After all, they are doing it for the
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Lots of Henry Hazlitt love, what about Bastiat? That Which is Seen and That Which is not Seen. Just read that. It was much more entertaining for me to read, even though Hazlitt is the superior writer, Economics in One Lesson was kind of boring.
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[quote user="justinx0r"] There has never been a 100% reserve bank. Fractional reserve banks have arisen in free markets before. That pretty much ends any debate about it. [/quote] Where? Don't tell me the US before the Federal Reserve because those fractional reserve banks had the backing of the inflationary state banks.
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It sucked away capital from other projects that would have served consumer demands better. In that sense, it is nothing but a loss.
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Sue them for fraud if they don't keep a 100% reserve ratio. That's what it is, afterall.
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Inequality does not matter as long as the standard of living is increasing for everyone. Besides, the statistics often cited for following income do the job very poorly as I have explained in my blog. http://teconom.blogspot.com/2011/05/problem-with-following-income-trends.html
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I think people have a hard time understanding what a 100% reserve ratio would mean. In that scenario, the bank would only make money by making you pay for you bills. In other words, you would pay a storage fee. Instead, you would have to look for time deposits or other kinds of investments to get a return for your money. The source of the distortion
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So is the page like ICQ but also with user page updates and other announcements? I need another account to use this site? I can't just use my Mises account?
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The monetary supply has increased, there is no way around that. However, mainstream economists totally ignore monetary inflation and instead focus on price inflation. In that sense, until recently there had not been much price inflation, but Austrians don't really care about that as much as they care about price inflation. Only focusing on price