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HbdNrx's profile
🐸 hbd nrx 🐸
🐸 hbd nrx 🐸
 🐸 hbd nrx  🐸
@HbdNrx

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 🐸 hbd nrx  🐸

@HbdNrx

Free speech activist. Darwinian reactionary. Gnon partisan. Frogs = implicit white identity. #humanbiodiversity

Moscow, ID
Joined August 2014

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    1. Mori‏ @moritheil Jan 4

      Mori Retweeted juan v.

      This article started well, then ran off the rails when it suggested that fiat money isn't fiat at all. Also it betrayed a shocking ignorance of the direct role of credit money in economic crises. And the author? A humanities major, not an economist. Much becomes clear.https://twitter.com/jvs1965/status/949048482937167872 …

      Mori added,

      juan v. @jvs1965
      Limiting money to a finite stock? http://www.livemint.com/Opinion/sf3sOyMpNPQwZu2ExNnswO/Solving-the-wrong-problem-Bitcoin-misunderstands-money.html …
      1 reply 0 retweets 4 likes
      Show this thread
    2. Mori‏ @moritheil Jan 4

      The author alleges that easy and plentiful credit are NECESSARY for the economy to grow. Certainly, like steroids, debt can pump up an economy. But there is a price. The asset bubble - where all assets are correlated and all are increasingly overvalued - is the result. #econ

      1 reply 0 retweets 3 likes
      Show this thread
    3. Mori‏ @moritheil Jan 4

      Yes, we would have had less economic growth without readily available credit via fractional reserve banking. But the question no one seems to be interested in is, IS IT WORTH IT? #econ #politics

      1 reply 1 retweet 4 likes
      Show this thread
    4. Mori‏ @moritheil Jan 4

      Economic growth in the abstract is not the ultimate goal of society, nor is it the ultimate goal of a community or the ultimate goal of a household. People want plentiful food, water, shelter, clothing, security, and stability. #econ #politics

      2 replies 2 retweets 6 likes
      Show this thread
    5. Mori‏ @moritheil Jan 4

      The map (GDP) is not the territory (people actually getting their needs met and living better lives.) And fractional reserve banking has produced its wondrous results only by taking power away from the people. #econ #politics

      1 reply 1 retweet 2 likes
      Show this thread
    6. Mori‏ @moritheil Jan 4

      Let's get concrete. Why does it cost so much to buy a house nowadays? Why are houses that went for $15,000 in the 1960s going for $350,000 now? A combination of factors, to be sure. #econ #politics

      1 reply 1 retweet 2 likes
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    7. Mori‏ @moritheil Jan 4

      One is that we printed more money (most of which we did not ACTUALLY print, but allowed banks to loan nonexistent funds.) Another is that we tightened rules on money going OUT of the US, but made it easy for foreign money to come IN. #econ #politics

      1 reply 1 retweet 2 likes
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    8. Mori‏ @moritheil Jan 4

      Everyone knows this. But what we tend to overlook is the radical normalization of debt. This had a profound impact not only in immediate numerical terms but in long-term human suffering. #econ #politics

      1 reply 1 retweet 3 likes
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    9. Mori‏ @moritheil Jan 4

      It is out of the experience of the modern reader under 35, but there were entire decades where DEBT WAS NOT ENCOURAGED. I don't mean just consumer debt, but mortgage debt as well. #econ #politics

      2 replies 0 retweets 2 likes
      Show this thread
       🐸 hbd nrx  🐸‏ @HbdNrx Jan 4
      Replying to @moritheil

      Right, houses would be much cheaper if there weren't so much debt being used to support their prices. Imagine how much houses would cost if there were no mortgages. Worse yet, people have to get debt just to keep up. How can you outbid buyers who can take much more debt on?

      7:38 PM - 4 Jan 2018
      1 reply 0 retweets 0 likes
        1.  🐸 hbd nrx  🐸‏ @HbdNrx Jan 4
          Replying to @HbdNrx @moritheil

          So everyone gets in debt, and everyone pays their tithes to the banks, but are we actually better off?

          0 replies 0 retweets 1 like
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