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Posts by Devoid
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2022-04-25 at 11:24 AM UTC in Clonazolam retrospectBro this shit will send you off balance hard...broke my tv and bong in the last week cuz I couldn't balance when dosed up hard enough. That chick defs just fell the fuck over on clonazolam
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2022-04-25 at 11:23 AM UTC in Tell me a bit BradleyI'm stoked Bradley isn't in jail.....this is FON (not Fonaplats that faggot) from zoklet/totse.
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2022-04-25 at 11:21 AM UTC in How are you feeling at the moment..Dad died a few days ago...debating if I should stay up all night doing drugs or not. I think I will.
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2022-04-25 at 11:20 AM UTC in All my friends are communists^ faggot
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2022-04-25 at 11:10 AM UTC in The Dollar is going to crash and Americans are going to be poorDidn't read the entire thread but the premise is incorrect. Plenty of literature showing no correlation between debt levels and inflation. Even when it correlates you can't simply say it was the cause. Problem is everyone thinks government debt is somehow similar to household debt, which starts off with an immediately incorrect analogy as it compares currency-issuers to currency-users.
Debt is effectively allowing those with Reserve accounts to change some numbers on a computer and buy interest-bearing securities, rather than leave it in their Reserve account. Think of it as a savings account vs a checking account. To reverse the debt is a matter of accounting and changing those numbers back from a savings account (interest-bearing securities etc) to a checking account (Reserve accounts)
Also seems like some confusion about printing/minting actual coins and government spending. The government doesn't mint $80b when it needs to pay for some military shit. Treasury instructs the Reserve to mark up the correct account. It still adds to the overall money supply, but a primary function of taxation is to take money out of the system to stop demand-pull inflation. People seem to think taxpayers pay for shit, which makes no real sense if you think about why a currency-issuer would care if they got something they can create back or not. It's simply eliminated from the system. There's no pool of taxpayer dollars you rely on in a currency-issuing nation with high levels of monetary sovereignty. -
2022-04-23 at 3:59 AM UTC in Your top three moviesWithnail And I
Dead Man
The Lighthouse
Off the top of my head anyway. -
2022-04-23 at 3:57 AM UTC in What are you doing at the momentMy dad died last night. Not a joke. Went up to see his body/funeral people etc etc. So now I'm getting high to try and forget.
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2022-04-23 at 3:55 AM UTC in Clonazolam retrospectBenzos will fuck your life and destroy your identity. Like someone said...treat them as a holiday. And even then...ten years of holidays can turn into addiction. You gotta be fucking strict with yourself and this shit. Too late for me. Learned the hard way after managing them fine for 10+ years.
Trying to stop first brings on depersonalisation attacks, then I start twitching and losing motor function, jaw grinds out of control....feel like I'm about to have a seizure so go dose up.....Btw haven't depersonalised in over 15 years. Yet it seems linked to anxiety so when I quiet, the anxiety/panic rises and I suddenly feel like just some object and something has gone horribly wrong. -
2022-04-23 at 3:49 AM UTC in All my friends are communists
Originally posted by Devoid Marxists suck
In all seriousness, Marx's work, like Das Kapital, are incredible additions to society. I personally always preferred Polanyi's view on society/economy as it seems to be perfectly reflected in today's world. Marxism always had the problem of a rigid definition of class, or at least a lot of the literature afterwards did. I'd prefer to use Weber or someone if I was doing a modern class analysis to allow for a broader range of class positions than bourgeoisie/proletariat.
That said, Marxists are a fuckload better than idiots like the Extinction Revolution. Marxists at least have a clearly defined goal and theory backing their ideas, not just a mindless protest without a core message behind it. I really don't know enough about the main premise in the OP to comment on that form of organisation. Might look into it and come back. -
2022-04-23 at 3:39 AM UTC in Poppy Seed Tea
Originally posted by RIPtotse U obviously haven't done heroin/fent iv.
Yeah I don't IV. But I've smoked/snorted heroin and pretty damn similar sensations to good seeds. For a fraction of the price and the rate of variability you can luck out and end up with a fat opiate dose that lasts like ten hours. The Thebaine alkaloid should stop you from nodding off as well. Only nodded on PST when I took too many benzos/lyrica/promethazine in this potion I made....Some mate had 3 sips and was so fucked up he fell asleep mid phone call with someone. -
2022-04-19 at 8:26 PM UTC in Poppy Seed Tea
Originally posted by aldra I tried it, can't handle the taste. even just a hint of the smell makes me feel like I'm going to hurl now
Fair. It's like drinking dirt water. That said, I always chased it with a sip of something, ideally, sweet like creaming soda. Helps a lot. Eventually though, like that fucking Pavlov faggot's dog or some shit, you start to become conditioned to the taste due to the sensation after. -
2022-04-19 at 8:10 PM UTC in What are you doing for 4/20Smoking weed I guess....like every other day. So no change.
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2022-04-19 at 10:50 AM UTC in Modern Monetary Theory: The New Paradigm?
Originally posted by UNSUB The essential message of MMT is that there is no financial constraint on government spending as long as a country is a sovereign issuer of currency and does not tie the value of its currency to another currency. Both Canada and the US are examples of countries that are sovereign issuers of currency. In principle, being a sovereign issuer of currency endows the government with the ability to borrow money from the country’s central bank. The central bank can effectively credit the government’s bank account at the central bank for an unlimited amount of money without either charging the government interest or, indeed, demanding repayment of the government bonds the central bank has acquired. In 2020, the central banks in both Canada and the US bought a disproportionately large share of government bonds compared to previous years, which has led some observers to argue that the governments of Canada and the United States are practicing MMT.
Due to being far more descriptive in nature than prescriptive I've seen a number of arguments to change the term altogether as it doesn't exactly fit the model of a theory since it purports to purely describe something. Of course, for discursive reasons I think it's useful as it firmly situates itself as an alternative model of contemporary economies.
Similarly, many argue any country with high monetary sovereignty (ie: issues own currency, debt owed in this currency) are already operating within an MMT framework but without any of the controls for inflation or goals for full employment. -
2022-04-18 at 5 PM UTC in So I have been studying music theoryPentatonic scales all day. Along with some minor/major scales...all you really need imo. But I'm far from a perfectionist guitar player....just went through periods over the last 15 years where I'd focus and really work on it.
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2022-04-18 at 4:02 PM UTC in Inflation is wild latelyShittiest thing is we don't actually have a working theory of inflation anymore. Macroeconomic theory is outdated, just like they all become.
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2022-04-18 at 3:39 PM UTC in Modern Monetary Theory: The New Paradigm?
Originally posted by vindicktive vinny mmt is a ponzi scheme and no more different than monopoly money or other in-game money.
and like monopoly (or other in-game) money, it is only valueable to those who wish to play the game.
USD is a type of monopoly money. you have to use it to play saudis monopoly game, the oil trade.
but not anymore.
That's just saying our current monetary system is a ponzi scheme. lol. The notion that MMT is a theory isn't really accurate at all since it's descriptive. Just awkward wording by an academmic, which at least has the benefit of sort of posing it in opposition to actual economic theories....like the one we're using currently. -
2022-04-18 at 7:44 AM UTC in Modern Monetary Theory: The New Paradigm?
Originally posted by Donald Trump So for instance MMT can flood an economy with cash and make everyone extract more resources and work really hard?
Can doesn't mean will though, does it? Hence the emphasis on controlling for inflation in MMT (besides, an oversupply of money can be taxed out of the system) and the idea of a job guarantee scheme. Not everyone is going to work really hard or at all, which is why the NAIRU exists in the first place and a natural rate of unemployment is assumed. Doesn't mean you abandon welfare, but with the high levels of underemployment in many countries they aren't nearly utilizing their productive capacity (unless they genuinely lack the resources to put these people to some sort of work). I'm personally an advocate for full employment.And an economy is - in part -measured in the speed at which it turns natural resources to garbage.
Yeah. A job guarantee scheme implemented correctly (therein lies the problem..) would allow nations to utililse more of their productive capacity while also exactly determining the natural rate of unemployment. Very useful for policy and controlling inflation if you know the number of people who will continue to be unproductive regardless. Currently they just guess what it is and adjust interest rates accordingly.And it's not a problem so long as only stock prices and land prices and home prices and other related fixed asset prices soar?
But suddenly when oil producers and farmers and workers demand a fair payment for their product that's inflation and evil? So evil that we need to drive the whole economy into recession and put half the work force in so-called-cyclicals out of work to fix?
You lost me a bit here. MMT proponents mainly argue for a decentralised job guarantee scheme which would lessen the impact of recessions and speed up recovery from the boom-bust cycles. If people are out of work in a recession they can move straight into the public sector where the government has set a floor wage, keeping the economy going while things recover from the initial shock. Then, when viable again, the private sector has a whole group of experienced workers ready to go and can move back in with competitive wages.MMT seems to be to just be the rich insiders trying to throw up intellectual cover for them looting the system. Nothing more, nothing less.
Rich insiders? MMT thought has been around for forty or so years mainly within a small group of economists and academics in general. -
2022-04-18 at 1:45 AM UTC in Modern Monetary Theory: The New Paradigm?
Originally posted by Rabbi T. Weed All of macroeconomics is bullshit witchcraft (at least according to my dear economist friends). The Magic Money Tree school of thought is, in their estimation, particularly egregious though.
I think you're conflating fixed and floating exchange rates. For a monetarily sovereign (has their own currency/debt is owed in their currency) nation the money tree is constrained by real resources (the nation's productive capacity), not financial ones. -
2022-04-18 at 1:41 AM UTC in Modern Monetary Theory: The New Paradigm?Fuck I miss having 20 page debates on shit with people like it was on Totse. On here I raise something and besides the expected troll posts it's like uhh, why are you talking about actual stuff in the forum meant for that stuff..fucking weird forum now.
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2022-04-18 at 1:36 AM UTC in Modern Monetary Theory: The New Paradigm?Sounds like nobody understands much about macroeconomics. Was worth a try.
And the point is to start discussion mate. I did the most basic summary I could for people unfamiliar so they could also maybe post or ask questions....but we niggas out in space you bunch of absolute shit cunts.
" Nobody who isn't retarded thinks inflation is just a result of monetary policy based around money supply and nobody has ever been that retarded. "
Yet the actual reality is our financial institutions are based on precisely this idea, which is why I find it interesting. As everyone said, orthodox macroeconomics is a joke and failed on all its promises. I'm simply raising a heterodox theory that looks set to take over at some point and trying to start a discussion. I guess you guys don't actually discuss shit. Sad. Totse used to be great for that reason.
EDIT: And duh economics are fluid. This is literally the theme of this thread. I don't understand the point of that post except to sound like a fuckwit. haha