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Tyler: our largest debt holder is the federal reserve not china, not oil producing nations, not canada how does that work? i get if we issue treasury bonds, china buys them, hangs on to them, we pay them back but the way the reserve does it, how is the debt held? "1. Social Security Trust Funds U.S. debt holdings: $2.67 trillion The largest portion
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Risk aversion and subjective value of money comes into play with the lottery when compared to other forms of gambling (odds are against you). Winning the lottery for most people would be a huge lifestyle change... a change they have only dreamed of. Going from 50,000 dollars a year salary to having hundreds of millions is a huge difference. However
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If the consumers who have deposited in our banks lose confidence in the money substitutes and rush to the bank, causing the banks to be unable to pay their liabilities, what would happen to their assets (the mortgages and business loan accounts and student loan accounts, etc.)? In other words, what would've happened if the government did NOT bail
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Thanks for the welcome. I studied economics at UCLA (although not avidly) and studied law and economics as well in graduate school. With tha said, Austrian economics is nowhere to be found in any program I ever studied under. I appreciate the welcome and the resources. I personally am seeking to understand Austrian economics and libertarian/ancap princples
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My lefist friend maintains the argument that the government has provided goods that the private sector (which he claims is equivalent to a "free market") had simply failed to provide before the government got involved. He cited access to water, education, and now healthcare. He supplied me with this article: http://www.bloomberg.com/news/2012
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In terms of freedom to contract and principles of liberty, contract law is fairly consistent. In order to have a free agreement, you need a "meeting of the minds." When Farmer A becomes so intoxicated that he has blacked out, then it is impossible (both legally and rationally) to have any "meeting of the minds." With that said, the
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I repeatedly hear (in the US) liberals point to the economic success of governments "like Germany, Norway, Sweden," etc. as proof that socialist/fascist/interventionist government is a successful form of government. I've searched the internet and have gotten a variety of responses from sources with varying degrees of reliability. Does