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" And the reason why I made that conversion is important. Libertarian insights in a lot of ways are basic, Econ 101 insights about the efficiency of free contracting writ large and converted into norms or political values. In other words, I think one of the most essential libertarian fallacies is building a politico-ethical system around positive
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Such as maybe jobs that can be linked to QE?
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Do you have deeper evidence for this?
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We all know how stupid the u3 unemployment statistic is, and we also all know that u6 unemployment sits firmly above 16%. John Williams says that when we include long term discouraged workers, the percentage is around 22. But here is my question: Should we count the long term discouraged workers? They have been unemployed for at least a year with no
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Haha I would love to get him in a room with all of us. But his point is that that electric money has no bearing on the value of dollars as long as we are producing at even pace with our printing (or entering).
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I agree. Electronic money still contributes to an overall increase in dollars, right?
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Expand your thoughts man, haha give more than a sentence
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we as Austrians have a problem with flooding the economy with paper money. the keynsian's argument was that we (Austrians) do not realize that money in the computer does not flood the market and that our argument is undermined by this.
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But what of his insistance that we don't know the difference between money entered in the computer and paper money in circulation?
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@Isaac Basically that which has been said in some of this discussion: I said that wealth is not paper, that it is owning stuff.