Best Thread Keynes Vs. Hayek

[enragedcow]

wish we had awesome stuff like that on the radio here that was a great debate

still a keynesian though . although Hayek's view that bad investments get abandoned like bad teeth is quite logical but only in "the long run" (when capital has time to move)

i had an idea while listening to the debate; central banks around the world are separate from government and control monetary policy, why do governments control fiscal policy? my proposal is that governments pass on their coercive ability to tax to a separate entity. This would, in my view, help alleviate the political aspect of taxation, it's an economic tool not a vote-winning one and in reality most voters have no idea what effects taxation has so giving them a say in it seems counter intuitive.

 

[spreader_legger]

Quite right mate ..... problem with short term solutions is that you soon find out your economy is being overtaken by competitors .... and slowly you're entering into moreass Not a good thing I assure you

So in short take the medicine like a good boy or let the government mollycoddle you into long term insignificance .... again the reference to coddling was by no means intentional .... Warren Buffet plz excuse me

wish we had awesome stuff like that on the radio here that was a great debate

still a keynesian though . although Hayek's view that bad investments get abandoned like bad teeth is quite logical but only in "the long run" (when capital has time to move)

i had an idea while listening to the debate; central banks around the world are separate from government and control monetary policy, why do governments control fiscal policy? my proposal is that governments pass on their coercive ability to tax to a separate entity. This would, in my view, help alleviate the political aspect of taxation, it's an economic tool not a vote-winning one and in reality most voters have no idea what effects taxation has so giving them a say in it seems counter intuitive.

 

[new_trader]

Long-term unemployment level soars

http://news.uk.msn.com/uk/long-term-unemployment-level-soars

And the Keynesians keep scratching their heads...

 

[new_trader]

Long-term unemployment level soars

http://news.uk.msn.com/uk/long-term-unemployment-level-soars

And the Keynesians keep scratching their heads...

Instant view - UK services PMI suffers biggest drop in a decade
http://uk.news.yahoo.com/instant-view-uk-services-pmi-suffers-biggest-drop-083412534.html

"and confounded forecasts" ...*LOL*

"Historically this has been an important indicator for the BoE, so it certainly helps nudge them that way (towards QE). I'm not convinced we're going to see a policy change this month, but November certainly becomes quite interesting. A lot will depend on financial market conditions. It's partly macroeconomic but it's financial markets as well."

I can hear the Keynesians screaming..."We need more stimulus, the first one wasn't big enough"


"The definition of insanity is doing the same thing over and over and expecting different results."
-Benjamin Franklin

 

[Pat494]

Neither Dipstick Cameron, Clogg or Millipede have the answers imho

Are stuffed then ?

 

[new_trader]

Let's all thank our BRAIN DEAD inflationists and their brainwashed minions.

Inflation Expected To Hit Three-Year High

Inflation To Hit Three-Year High In New Figures Due To Rising Cost Of Utility Bills | Business | Sky News

"It has all helped to add to the squeeze in household incomes already hit by rising food and fuel costs"

 

[new_trader]

Looks like the BRAIN DEAD inflationist imbeciles at the Bank of England have excelled themselves! This will keep their brainwashed, brain dead minions happy.

Above Target: Inflation Rate Rises Again

Inflation Rate Rises Once More As Utility Bills Push Up Living Costs | Business | Sky News

"The consumer prices index (CPI) measure of inflation for August has risen once again, to 4.5%, as rising utility bills push up living costs."

 

[Atilla]

Looks like the BRAIN DEAD inflationist imbeciles at the Bank of England have excelled themselves! This will keep their brainwashed, brain dead minions happy.

Above Target: Inflation Rate Rises Again

Inflation Rate Rises Once More As Utility Bills Push Up Living Costs | Business | Sky News

"The consumer prices index (CPI) measure of inflation for August has risen once again, to 4.5%, as rising utility bills push up living costs."

1. Raise taxes
2. Cut spending
3. i > r

OMG :-0

Policy is working... at least the non-political stuff that can be sweeped under the carpet...


Agree with you NT but I'm afraid I've always argued this would be the ultimate outcome of billions of dollars spending.


More importantly - Banks have received bailed out and continued with bonus and salary increases and NOW THEY HAVE TO LAY OFF STAFF.

How brilliant is that - instead of strengthening balance sheets???


OH NO we can't stop their bonuses or salaries as they will simply walk away...

OH NO we can't afford their bonuses or salaries as we are broke so let's just fire the fockers anyway....


YOU GOTTA LAF


OH WE NEED TO PAY HIGH SALARIES TO KEEP THE BEST SKILLS :clap::clap::clap:


Bunch of useless ****es and morons. The financial sector is going down the way of the ship building industry sinking...


Don't say didn't tell ya to all you experts out there???

 

[YES]

I listened to this on Radio 4 as well! I'm definitely for Keynes.

 

[new_trader]

1. Raise taxes
2. Cut spending
3. i > r

OMG :-0

Policy is working... at least the non-political stuff that can be sweeped under the carpet...

?

Policy is working...are you serious?

Do you think the Bank of England had anything other than an inflationist policy?

The difference between you and me is that I know it isn't real wealth they are creating, you on the other hand want to see the nominal value of your precious property portfolio rise because that is all England has now, a property market, nothing else, just selling houses to each other at ever increasing prices.

 

[glyder]

I'm a Hayek man.
Less intervention not more, let the economy look after itself.
The politician socialists and their EU overlords will be happy to make impoverished slaves of us all
if we let them. And so far we are letting them.

 

[new_trader]

I'm a Hayek man.
Less intervention not more, let the economy look after itself.
The politician socialists and their EU overlords will be happy to make impoverished slaves of us all
if we let them. And so far we are letting them.

Brain dead Government educated minions only understand magic formulas.

This man understands economics

Chris Whalen: Roubini Is WRONG About Karl Marx Being Right | Daily Ticker - Yahoo! Finance

Indeed, an economy that's kept afloat by massive government spending, unprecedented easing by the Federal Reserve and seemingly unlimited bailouts for banks and their creditors cannot be considered free-market anything, capitalism or otherwise.

"This is corrupt corporate statism," Whalen say. "It's the fusion of the old Robber Baron model with a socialist European model."

 

[Atilla]

Policy is working...are you serious?

Do you think the Bank of England had anything other than an inflationist policy?

The difference between you and me is that I know it isn't real wealth they are creating, you on the other hand want to see the nominal value of your precious property portfolio rise because that is all England has now, a property market, nothing else, just selling houses to each other at ever increasing prices.

No not at all.

Difference between me and you is that I understand inflation erodes real purchasing power and know full well the distinction between real and nominal values.

However, I appreciate the problems in hand and how to work around them without destorying lives because I am well off.

Inflation will act as a shock absorber redistributing wealth and prices to a new equilibrium...

I may be purchasing number 3 soon... How's your gold purchases doing???

 

[Atilla]

Brain dead Government educated minions only understand magic formulas.

This man understands economics

Chris Whalen: Roubini Is WRONG About Karl Marx Being Right | Daily Ticker - Yahoo! Finance

You kidding...

Nouriel Roubini is about the only economist who is on the ball. The rest is all whaffledegooky ding dongs...

You're comedian you...

 

[new_trader]

No not at all.

Difference between me and you is that I understand inflation erodes real purchasing power and know full well the distinction between real and nominal values.

However, I appreciate the problems in hand and how to work around them without destorying lives because I am well off.

Inflation will act as a shock absorber redistributing wealth and prices to a new equilibrium...

Up yours Atilla I have explained time and time again that inflation erodes purchasing power and impoverishes the poor and the working class...on top of that you want to rob savers of their meagre interest and hand it over to the feckless debtors, so don't even think of trying to turn this around on me.

I may be purchasing number 3 soon... How's your gold purchases doing???

Just like I suspected. This isn't about what is good for the economy, it's all about what you think is good for your specific investment choice. Anyone with any brains understands that gold performs well when i >r so you could hardly accuse me of having a vested interest in my opinion

 

[new_trader]

You kidding...

Nouriel Roubini is about the only economist who is on the ball. The rest is all whaffledegooky ding dongs...

You're comedian you...

Mr 60% chance of a US recession? Flipping a coin is just as good

 

[Atilla]

Up yours Atilla I have explained time and time again that inflation erodes purchasing power and impoverishes the poor and the working class...on top of that you want to rob savers of their meagre interest and hand it over to the feckless debtors, so don't even think of trying to turn this around on me.



Just like I suspected. This isn't about what is good for the economy, it's all about what you think is good for your specific investment choice. Anyone with any brains understands that gold performs well when i >r so you could hardly accuse me of having a vested interest in my opinion

You mean raising interest rates in one of the worst recessions is an act of kindness on your belhalf...

If that is kindness dude I hate to upset you in fear of discovering your wrrrrathhhhh :whistling


Peace n prosperity and all that...

 

[new_trader]

You mean raising interest rates in one of the worst recessions is an act of kindness on your belhalf...

If that is kindness dude I hate to upset you in fear of discovering your wrrrrathhhhh :whistling


Peace n prosperity and all that...

You are talking nonsense now because you've dug yourself into a hole and exposed yourself as a vested interest who wants to be bailed out by all the other taxpayers and savers...You are buying your 3rd house whilst many in the U.K can't even afford one due to the policies you support...and you hate capitalism...

 

[new_trader]

You mean raising interest rates in one of the worst recessions is an act of kindness on your belhalf...

You neglect to point out that it was largely a recession brought about by moronic Brits who were speculating on property and took on too much debt thanks to the endless property porn shows on TV. They actually believed "you can't lose with property"...of course you can't if you expect the taxpayers and savers to bail you out when it all goes wrong. Now we are given the bleeding heart nonsense about 'poor' homeowners...nonsense...they were speculating! Now you have morons buying more property with low interest rates because they believe "Interest rates will never go up"

 

[Atilla]

You are talking nonsense now because you've dug yourself into a hole and exposed yourself as a vested interest who wants to be bailed out by all the other taxpayers and savers...You are buying your 3rd house whilst many in the U.K can't even afford one due to the policies you support...and you hate capitalism...

My goodness - you really are personalising this aren't you. Facts all wrong and so is your approach.

Problem was not with people wanting to live and secure their investments but it was those greedy little bankers who didn't quite manage their risk portfolios. Ofcourse they are too rich to be blamed so let's blame all the little ninja redknecks as they are poor enough not to matter.

You are so offskew target one might add you are skewered in the head...

Which part of peace and prosper didn't you like?