Newbies

Re: Hey Y'all

Todd — Wed, 11 Feb 2009 23:18:58 GMT

I've been looking at the White House message board (which is terrible, btw) and there are a lot of screwball things being thrown around there. I still look at here and there, but probably won't post anything for a while, unless i'm bored and just want to poke on someone. I am constantly amazed by the ignorance of people and how they view the political system and the country overall. This is one of the reasons I decided I needed to try to learn a little more about economics.

I am opinionated and really not afraid to show it, but I try to temper myself. I am also not afraid to admit when I don't know what I'm talking about, which I think is a problem many people seem to have. I've never understood why. I suppose it's a pride issue, but I find I am more proud when I admit I don't know and then learn about it so I do know next time...then I can argue my position in an intelligent manner.

I had a (debate) argument with someone the other day about the planes and trips that Obama has been bitching about companies buying after the bailout. Those things create and keep jobs. Not that it's right (imo, as of right now, the bailout shouldn't have happened or be happening), but if you are talking about creating jobs, you don't ruin a good established business by telling people not to buy from them. I heard on the radio today that the Mayor of Las Vegas is demanding an apology from Obama after he said people shouldn't be going to Las Vegas and spending money. He said the cancellations for business meetings were going to cost Las Vegas millions and millions.

I pointed out that Obama went to Elkhart , the RV capital of the world, to give a town hall meeting in a place that has one of the highest unemployment rates in the country. The problem is that his party is the one that has driven the RV industry down the crapper.

Also, just in case it comes up, I took a lot of classes on medevial weaponry when I was in college, so sometimes I like to check out weapons used in sci-fi and fantasy and compare them to medevial weapons. It's one of the many "nerd" things that I do...don't let it scare you if I ever compare a bat'leth to a bearded axe, or a rapier to a light saber.

Anyway, i'm going to buy the book tonight, so be prepared for a slew of questions in the near future.

Re: Hey Y'all

eliotn — Wed, 11 Feb 2009 16:56:26 GMT

Welcome Victor Claar.

Re: Hey Y'all

Victor V. Claar — Wed, 11 Feb 2009 16:22:18 GMT

Great stuff.

The additional point that I would make is that current expenditures on capital that are not funded by the private sector represent gambles that the spending is being done in the "right" way. And let me be clear about what I mean by "right" : growing capital in the manner that the private sector might have.

Additions to the capital stock that lead to long-term economic growth are best left to the private sector, since the private sector uses prices to sort out which projects get undertaken, and which do not. And in the long term that grows economies.

But spending for spending's sake, with little or no reliance upon price as a signal, adds to the capital stock in ways that might seem silly in hindsight. And that's what can seriously impair growth prospects.

Re: Hey Y'all

Spideynw — Wed, 11 Feb 2009 15:53:41 GMT

Todd:
As I understand it, basic economics is pretty common sense, it's after you get past the "101" that it takes some effort to understand.

That is if you are studying Keynesian economics. Austrian economics is pretty straight forward and easy to understand, imo, the whole way through. Austrian economics looks at the big picture.

For example, Keynes says government spending will stimulate the economy because people will want to work for the money that the government is spending. But Austrian economics goes the whole way and says, but wait a minute, where does the money come from that the government is going to be spending? In the case of the U.S. Federal government, it comes from borrowing. And everything the government borrows is unavailable for private investment. And, since the government is unnaccountable for how it spends the money, it spends it unwisely. Whereas, businesses are accountable for how they spend their money, because if they do not spend it wisely, they go out of business. So the government actually consumes capital, whereas private enterprise creates capital.

I myself have not actually read any of the books on Mises all the way through. I have read a couple of chapters in a couple of them. However, my "education" mainly came from having discussions on the internet with other libertarians and reading the daily articles on Mises.org and FEE.org. So feel free to ask any questions you like. I started out with asking if others thought we needed more regulations, which at the time, I did.

Re: Hey Y'all

Todd — Wed, 11 Feb 2009 15:47:15 GMT

krazy kaju:

Best place to start is Gene Callahan's Economics for Real People. Read a chapter a day and you'll have a strong, solid foundation.

I found the book on Amazon, so I'm going to buy it and start going. Thanks. BTW, someone should check out Amazon and send them a note, the description of the book talks about the Australian school of economics instead of Austrian. The copy journalist in me notices things like that...

Re: Hey Y'all

Todd — Wed, 11 Feb 2009 15:39:41 GMT

Schmitto2121:

where you from man? I a "Y'all" user aswell. haha. Im from Texas actually.

I'm from Memphis. Y'all, all y'all, y'uns, etc. Seems we use them all, y'all. I actually worked for a newspaper in Boston for a few years until I found out that my political leanings were so far out of phase with the rest of the people there that I couldn't take it anymore and left.

I've always loved baseball, and somehow once you live in Boston, you become a Sox fan forever. Funniest thing that ever happened was at Fenway the first year I lived there. It was a really close good game and I couldn't hold it in anymore, so I yelled something about getting the next guy out. Everyone around me turned and looked to see who the countrified redneck was that yelled. This guy in front of me turns around and says (in a thick Boston accent) "Where ya from, bub" I said, "Memphis, tn." He says, "where Elvis is from?" I said "yeah" and he asks if he can buy me a beer...I remember parts of the game and a little of the walk home after that, but I never tried to go toe to toe with a Sox fan at the park again. That's the long way of saying don't be surprised if once in a while I throw a baseball analogy out there.

Re: Hey Y'all

Conza88 — Wed, 11 Feb 2009 05:30:09 GMT

Welcome!

Best thing to do is check out the media and literature sections of the site. Entire pdf's of books for free, and lectures galore of a myriad of topics.

Download them, learn, further your education and understanding, then bring others to the cause!

Re: Hey Y'all

krazy kaju — Wed, 11 Feb 2009 05:00:06 GMT

Best place to start is Gene Callahan's Economics for Real People. Read a chapter a day and you'll have a strong, solid foundation.

Re: Hey Y'all

Schmitto2121 — Wed, 11 Feb 2009 04:53:11 GMT

where you from man? I a "Y'all" user aswell. haha. Im from Texas actually.

Re: Hey Y'all

Todd — Wed, 11 Feb 2009 03:24:53 GMT

well...I've just been reading through the posts and the blogs as I find the ones that look interesting. My problem is that my economics background is basically what I took in college fifteen years ago and then it was only like economics 101. Some of this is over my head right now, but I am working on it. As I understand it, basic economics is pretty common sense, it's after you get past the "101" that it takes some effort to understand. I'm willing to give it that effort, but I just am not sure where to start so I'm kind of going slow.

I have a degree in journalism, and I work in engineering, so why not learn a little about this too...or even a lot. I think it keeps the brain working and helps you stay in mental shape.

Re: Hey Y'all

eliotn — Tue, 10 Feb 2009 23:17:06 GMT

Welcome! Do you have any questions that you would like to ask now?

Hey Y'all

Todd — Tue, 10 Feb 2009 22:36:44 GMT

Sorry, that's the way we greet each other in the south.

I heard about this site the other day and decided I had to check it out. I'm not a student of economics, but I am trying to learn. I think that with the new policies being enacted that it is best I learn about economics and this seems like a system set up to suit my style. I'll probably ask a ton of questions later, but right now I really don't know what to ask, so maybe I should ask y'all to point me in the right direction to begin my education...whichever direction that may be.

I look forward to the conversations and debates.