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[quote user="Andrew Cain"] [quote user="Mansoor H. Khan"]Ok. good. we are getting somewhere. What happens if consumer preferences are NOT in line with objective reality? Do you see an issue there?[/quote] How can it not be? [/quote] Ok. If we truly had much more an capness in our society yes deviation from objective reality is likely
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[quote user="filc"] Capital goods are the machines used to create the bread. Gold is the savings/investment. The reason why a capital theory is important is that it points out that Capital goods are not easily movable. SO in a correction where assets must be liquidated it explains why there is a bust, or a recession. The recession is the wait
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[quote user="filc"] [quote user="Mansoor H. Khan"] Ok. So if credit is not real capital. How were the producers able to produce loaves of bread (something real) from nothing? Mansoor [/quote] They do so at the expense of the economy. The economy re-directs real objects, not monetary objects, to places with the greatest purchasing
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[quote user="filc"] [quote user="Mansoor H. Khan"]There are savings all around us: excess production capacity and ready, able, willing, trained labor. [/quote] And most of these are not savings. You need to understand that capital is heteregenous A and that it takes time to re-allocate it B. If I have 100,000,00 dollars in savings
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[quote user="Mansoor H. Khan"] [quote user="E. R. Olovetto"] [quote user="Mansoor H. Khan"] [quote user="E. R. Olovetto"] Sorry, I forgot that Al-AnCappa ruled Pakistan and not the Pakistani Government and the millions of $ of foreign military "aid". [/quote] Look. Most people are NOT impacted by all
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[quote user="Jonathan M. F. Catalán"] [quote user="Fephisto"] It's a quarter of their GDP [/quote] Telling from the other thread, the fact is that he knows just as much about Pakistan as the rest of us do, but doesn't have the google-fu to check his information. [/quote] Tax evasion is very high there. This information
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[quote user="Azure"] [quote user="Mansoor H. Khan"]Ok. Again, will you keep the unemployed alive while the economy re-configures? Yes or No, please. Mansoor [/quote] I cannot. No one can. [/quote] Azure, I am learning about your principles more and I think you could have given the following answer consistent with your principles
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[quote user="Mansoor H. Khan"] [quote user="filc"] [quote user="Mansoor H. Khan"]So if deflation is 10% and rate of return of the project is 9%. Will you do the project or just warehouse the gold[/quote] Depends on how risky the project is. If it's nearly guaranteed I'll choose the 9%. But you, or I, cannot make
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[quote user="Conza88"] [quote user="Grayson Lilburne"]I don't appreciate being mocked.[/quote] It's the position I was mocking. If anyone happens to hold the same one, I don't see how that's my fault. If I some how offended you, I apologise. [quote user="Mansoor H. Khan"] 7) Then tell me what you think.
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[quote user="wilderness"] [quote user="Mansoor H. Khan"]yes. I am with you so far. please Keep going?[/quote] Other than that, without any specifics, I would suggest this book . This is a large field of knowledge to get into, there are lots of books, and I've only just begun to get into the detailed aspect of economics in general