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Freepers Still Love war Parody ... Jump / Trump --- van Halen jump "The Democrat Meltdown Continues" "Yes, We Need Deportations Without Due Process" "Trump's Tariff Play Smart, Strategic, Working" "Leftists Make Desperate Attempt to Discredit Photo of Abrego Garcia's MS-13 Tattoos. 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What Happens Inside Gaza’s Secret Tunnels? | Unpacked Hamas Torture Bodycam Footage: "These Monsters Filmed it All" | IDF Warfighter Doron Keidar, Ep. 225 EXPOSED: The Dark Truth About the Hostages in Gaza New Task Force Ready To Expose Dark Secrets Egypt Amasses Forces on Israel’s Southern Border | World War 3 About to Start? "Trump wants to dismantle the Education Department. Here’s how it would work" test "Federal Workers Concerned That Returning To Office Will Interfere With Them Not Working" "Yes, the Democrats Have a Governing Problem – They Blame America First, Then Govern Accordingly" "Trump and His New Frenemies, Abroad and at Home" "The Left’s Sin Is of Omission and Lost Opportunity" "How Trump’s team will break down the woke bureaucracy" Pete Hegseth will be confirmed in a few minutes Status: Not Logged In; Sign In Economy See other Economy Articles Title: A very secret agent Source: A very secret agent URL Source: http://www.atimes.com/atimes/Global_Economy/MG27Dj02.html Published: Jul 27, 2011 Author: Chris Cook Post Date: 2011-07-28 10:16:46 by lucysmom Keywords: Fiat Currency, Fed Created Tax Credit Views: 51101 Comments: 80 There is a charade playing out in Washington at the moment in respect of the completely meaningless "debt ceiling" which the US maintains as a relic from the days of the gold standard. We are told that at the US Treasury's account at the Federal Reserve Bank there will soon be no more taxpayers' dollars, and therefore the Fed will soon be unable to make any more payments or issue any more cheques on behalf of the Treasury. The money has run out. This is nonsense. It is a myth, and moreover it is a myth that Federal Reserve chairman Ben Bernanke exploded in his recent testimony to a US congressional committee. Asia Times">Click for Full Text! Post Comment   Private Reply   Ignore Thread   Top • Page Up • Full Thread • Page Down • Bottom/Latest Begin Trace Mode for Comment # 40. #3. To: Badeye, A K A Stone, hondo68, Fred Mertz, Godwinson, go65, war, no gnu taxes, Skip Intro, ferret mike, jwpegler, brian s, mcgowanjm, Capitalist Eric, Mininggold (#0) The debt ceiling is a myth because there is no need to borrow to finance public expenditure and the creation of public assets. As Ron Paul points out, the Fed - which is ludicrously receiving interest from the Treasury in order to pay it right back again as profit - could actually waive or tear up the US$1.6 trillion Treasury debt it has bought through quantitative easing (QE), and it would make precisely no difference other than to reduce the National Debt at a stroke by that amount. lucysmom  posted on  2011-07-28   10:22:52 ET  Reply   Untrace   Trace   Private Reply   #18. To: lucysmom (#3) "...all of the equations in neoclassical economics are rubbish. The differential equations describe nothing. Economics is not about mathematics, it is about the human being." Sandeep Jaitly The fact that you not only accept such nonsense as truth,but even think it is profound truth says a lot about you. What next,"Engineering ain't about building a safe airplane,it's about the people who fly in the plane. If it gets off the ground."? sneakypete  posted on  2011-07-28   11:28:18 ET  Reply   Untrace   Trace   Private Reply   #22. To: sneakypete (#18) What next,"Engineering ain't about building a safe airplane,it's about the people who fly in the plane. If it gets off the ground."? Economics is one of the "soft" social sciences. It is by definition, about human behavior. Engineering is a "hard" physical science. It is about stuff and how stuff works. Human beings can discover how stuff works and use that information to design lots of products that human beings use, but it isn't about human behavior. lucysmom  posted on  2011-07-28   11:54:34 ET  Reply   Untrace   Trace   Private Reply   #37. To: lucysmom (#22) Economics is one of the "soft" social sciences. It is by definition, about human behavior. Yeah, I used to say similar things, too... about 20 years ago, before I started to get more educated on the subject. Economics IS about the accurate modeling of human behavior. If you have two products that are priced the same, where one has a higher level of (perceived) quality or utility over the other, than people will pick the one with the higher perceived value. While the field of economics cannot accurately determine the behavior of a single individual, it is extremely useful is predicting aggregate human behavior. Depending on the model used, the accuracy can be quite amazing. In this way, it is a science- as repeatable and useful as one of the "hard" sciences, like mechanical or electronic engineering. And I guarantee you- the field of economics is involved in your life every single day... when you buy a loaf of bread, when you put gas in your car, when you shop on amazon.com or craigslist.org, when you sell your used books at the local bookstore, or when you're sitting on your couch watching TV or listening to the radio... It's all around you, EVERY day... You seem to have this naive belief that economic theory doesn't matter or affect you. And that belief is utterly false. Capitalist Eric  posted on  2011-07-28   16:16:48 ET  Reply   Untrace   Trace   Private Reply   #38. To: Capitalist Eric (#37) You seem to have this naive belief that economic theory doesn't matter or affect you. And that belief is utterly false. Really? How many years of study did it take you to grasp that little factoid? lucysmom  posted on  2011-07-28   18:23:14 ET  Reply   Untrace   Trace   Private Reply   #39. To: lucysmom (#38) Really? How many years of study did it take you to grasp that little factoid? I've ALWAYS known that. You're a simpleton who preaches against the LAWS of economics, and instead demand that the STATE give you yours, regardless of who they have to steal it from. YOU encourage thievery and extortion, 'cause "I want MINE..." You don't give a SHIT about anybody but yourself... And you're not WORTH a shit, because of THAT "little factoid." Capitalist Eric  posted on  2011-07-28   19:28:32 ET  Reply   Untrace   Trace   Private Reply   #40. To: Capitalist Eric (#39) You don't give a SHIT about anybody but yourself... And you're not WORTH a shit, because of THAT "little factoid." If that's the way you see me then that's what's true for you. It is a pity - you claim to have so much and yet are so angry. lucysmom  posted on  2011-07-28   20:23:24 ET  Reply   Untrace   Trace   Private Reply   Replies to Comment # 40.         There are no replies to Comment # 40. End Trace Mode for Comment # 40. Top • Page Up • Full Thread • Page Down • Bottom/Latest

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