Enki wrote:
No, miscommunication on my part. As usual I understand him perfectly, he doesn't understand me at all.
Regardless of whether we are talking about money or currency. A dollar or an ounce of gold, is indeed a measure of value. No one is disputing that. But for a value to be meaningful, people need to agree on what that value is. That is what price stability is. I can get two apples for a dollar or a gallon of gas for four dollars, etc... We all agree on that, and thus the economy continues to function.
Sort of.
When we stop being able to agree on what the value of a currency/money should be, then we are unable to trade. That's when a currency collapses.
No.
We have to have trust that other people share our perception of how much that unit of measure is really worth. When we have banks taking taxpayer money, causing a liquidity trap and using that liquidity trap as a pretext to take people's homes from them,
The Keynesians will tell you you got this backwards, that bailouts are because of liquidity traps, but details...
this rocks the faith of those people that the system of money can benefit them.
I propose we stop voting for Democrats, liberals, progressives and leftists in America as a solution.
The only thing that holds the fabric of the American monetary system together is the idea of the American Dream. The idea that if we work hard enough, we can get some of that money and use it to purchase the things we want. The liquidity trap and debt slavery challenges this assumption straight away. A whole generation of college students is being born into debt slavery. A corrupt financial system has made it so that the market will bear uncompetitive tuition rates. Tuition becomes increasingly expensive and the ROI on that tuition diminishes. This is a recipe for an entire generation that loses faith in the monetary system. As long as Conservatives gleefully tell 25 year olds who have 70,000 in debt, few job prospects and live at home with Mom and Dad that this must be so because they are lazy and stupid, they are alienating the whole next generation.
Actually history tells us that in a few years they will realize the conservatives were right and quickly start voting Republican.
It is plain as day for anyone to see that wealth has concentrated in the hands of the old at the expense of the young. Young people are being born into debt. The upwardly mobile American Dream seems increasingly like a farce.
This is very old leftist narrative that I am pleased to see still makes the circulation due to it's built in backfire features.
Mr. Perfect can threaten, cajole and make fun of me all that he wants, but I am speaking regularly to young people who see it this way.
I'm sure many people get lots of insights on LSD trips, usually just takes time to see how it works out.
Through Occupy Wall Street, I see the hardest working people I have ever met in my entire life called 'lazy' by the mainstream Conservative Press. I see people putting in 100 hour weeks for no pay whatsoever,
Then I would say lazy and stupid.
because they'd rather pursue their own dream than someone else's.
The ski slopes are littered with bums also.
This vast pool of talent in the younger generation is not being effectively mobilized by corporate America, it simply is not.
It's not their job.
A few more shocks to the economy, and you'll see a younger generation that simply will not take it anymore. They were shafted more than anyone else in the past couple of years. They saw horrible risk taking rewarded by a Federal bailout.
Well, elect Democrats, don't be surprised by the results.
The people who hold their student debt were protected, buffered against their poor decision making regarding how they took risks, meanwhile the young people find themselves starting their professional lives in debt peonage. The ones who do ok are the ones who have parents who they can live with. They watch wages go down as companies ship jobs overseas, and then they are told that they should accept lower wages, except that's not really feasible for them, because how are they going to pay off the mountain of debt on lower wages?
Look in the real world you have to learn that actions have consequences. You elect Democrats don't be surprised when you end up with your pants down around your ankles.
We are very close to having an entire generation, the generation that is the future of this nation due to a biological certainty, lose faith in the American monetary system.
Sounds great.
See I told you the future of America was right wing. I'm glad you're starting to see it.