Mark Blyth, the economist who's making sense

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ttystikk said:
That won't happen in the States because the biggest accounts are held by those whose interest is firmly to see the bank survive such runs. The proletariat simply don't amount to enough to worry about.
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Yeah plus it already happened in the 1920s, remember wat happened? Now the banks are federally insured for $250,000 per account.
 
ANC said:
As someone who studied banking after school, this is not correct or not as infinite, at least. Governments set a ratio of deposits vs loans. In my country, they can "create" loans of 150% of deposits. (wasn't always that bad until the ANC forced banks to take on government debt). Anyway, this means for every $100 deposited at the bank, the bank can create $150 of loans. Which is why they fear everyone asking for their money back at the same time, most of all.

If you want to fuck with a country, get everyone to line up at the banks at the same time, and start withdrawing every last cent.
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What country you from?
 
ANC said:
As someone who studied banking after school, this is not correct or not as infinite, at least. Governments set a ratio of deposits vs loans. In my country, they can "create" loans of 150% of deposits. (wasn't always that bad until the ANC forced banks to take on government debt). Anyway, this means for every $100 deposited at the bank, the bank can create $150 of loans. Which is why they fear everyone asking for their money back at the same time, most of all.
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Where you generally located if you don't mind sharing? Did you study the Uniform Commercial Code any?

The numbers are worse in the US. We have a 10% reserve. so 190% can be created, then those loans can be deposited for another 190% and so on.

Theoretically, if all loans repaid this allows the credit to expand with economic demand, assuming everyone is productive with their loans. They're not though. Furthermore the mechanism that created the initial deposits was government depositing bonds to serve as an artificial demand for those as well.

Any whim, expand the debt ceiling. Any war, expand the debt ceiling.

When you buy something on credit here you and the bank draw up what is called a "bank note". PPL say "the note on my car", " the note on my house". Its a contract with two party signature yours and the bank rep, bank name at the top somewhere and some terms, conditions ect......these can be bought and sold on the open market as money because they are money. They're exactly like the bank notes we carry as currency, currency has your fiduciary agent's signature as your own though.....no difference in law.

ANC said:
If you want to fuck with a country, get everyone to line up at the banks at the same time, and start withdrawing every last cent.
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This. We had a big one in 1933. Our Central bank was created in 1913, chartered for 20 years.
 
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ttystikk said:
That won't happen in the States because the biggest accounts are held by those whose interest is firmly to see the bank survive such runs. The proletariat simply don't amount to enough to worry about.
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The emergency banking act of 1933 is what we are still currently operating under right now. We have been in this state of emergency for that long.
 
Drowning-Man said:
Yeah plus it already happened in the 1920s, remember wat happened? Now the banks are federally insured for $250,000 per account.
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Wealth and income inequality are much worse now than they were on the eve of the Great Crash of '29 and the resulting Depression.

It's like we learned nothing from the experience because we're poised to make the same mistakes again, right down to a repeal of Dodd-Frank...

And $250k is Chump change.
 
ttystikk said:
@Xcoregamerskillz you and I and @Padawanbater2 think very much alike politically. I invite you to read this thread, watch some of the clips I've posted, maybe read a few of the article I've linked and then share your thoughts.
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Will do, at some point. Hard to watch clips when I most browse at work, which happens to be a very loud factory. If Blyth is anything like Robert Reich I'm sure I'll enjoy.
 
ANC said:
We are fucked. You guys literally hate each other for false paradigms created by the forces that are causing all of the shit.
It doesn't help winning if it is by nearly half, this means you have to fight yourself before you can fight any external enemy.

There is no such thing as a Democratic win, all it does is increase the number of people involved with making the wrong choices.
Democracy means we go right if 7 idiots decide to, while 3 people with the actual map, want to go left.

We need to find something that is going to help find love for everyone on the planet again or we are doomed.
This new culture of self-aggrandizing and selfish personal goals is a problem. When your life rotates only around your own wishes, everybody else is suddenly the problem and impediment.
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I agree completely.

One of the primary functions of Government is to rein in selfish impulses and stop the tragedy of the commons.

When it fails to do so, as in modern day America, we are indeed fucked.

This all came to a head in the US in the Roaring Twenties, followed by the Great Crash of 1929 and the Great Depression. Now we're repeating the same mistakes, having waited long enough for everyone who lived through the last one to die.

The American right wing is tilting fascist; worshipping authoritarians, trampling civil rights, making up enemies foreign and domestic.

We Americans are in the process of becoming the Nazi Germany of the 21st century.

The divisions are valuable so those in power don't want to bridge them. They're far more profitable to exploit instead.

This is going to end badly.
 
ttystikk said:
I agree completely.

One of the primary functions of Government is to rein in selfish impulses and stop the tragedy of the commons.

When it fails to do so, as in modern day America, we are indeed fucked.

This all came to a head in the US in the Roaring Twenties, followed by the Great Crash of 1929 and the Great Depression. Now we're repeating the same mistakes, having waited long enough for everyone who lived through the last one to die.

The American right wing is tilting fascist; worshipping authoritarians, trampling civil rights, making up enemies foreign and domestic.

We Americans are in the process of becoming the Nazi Germany of the 21st century.

The divisions are valuable so those in power don't want to bridge them. They're far more profitable to exploit instead.

This is going to end badly.
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Can't even post in the right thread; want's to fix the economy.
 
The CIA reads French Philosophy;

THE CIA READS FRENCH THEORY: ON THE INTELLECTUAL LABOR OF DISMANTLING THE CULTURAL LEFT

http://thephilosophicalsalon.com/th...ctual-labor-of-dismantling-the-cultural-left/

This is a bit of a dense read, but shows just how seriously American intelligence took (and presumably still takes) intellectualism and cultural leftism.

One more data point in understanding how and why we've ended up as a right wing imperialistic society.

It seems modern leftism has been systematically undermined for a long time, lending credence to my assertions elsewhere above that American government agencies have been working to shape and as necessary undermine political and philosophical discourse to create the world their masters want; the one we now live in.
 
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