• Madison320's Avatar
    Today, 08:38 AM
    Probably, but it seems like the shortages are lasting longer than I thought they would. And it's not not just water in a hurricane crisis, it's most products, everywhere. Let's see what happens when that helicopter money starts dropping. https://www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm
    7 replies | 344 view(s)
  • Madison320's Avatar
    04-03-2020, 09:10 AM
    My point is that shortages can be the same thing as inflation if you have price controls. For example in Venezuela the government might dictate that toilet paper is 10 bolivars. But you can't buy any at that price so is it really 10 bolivars?
    7 replies | 344 view(s)
  • Madison320's Avatar
    04-03-2020, 07:34 AM
    I'm wondering if the shortages we are experiencing are the beginnings of massive price inflation. Since businesses are not allowed to raise prices to market level due to price gouging laws I have a feeling we may be seeing the beginning of price inflation for consumer goods. https://www.nytimes.com/2020/03/27/us/coronavirus-price-gouging-hand-sanitizer-masks-wipes.html https://www.winknews.com/2020/04/01/attorney-generals-office-is-taking-action-to-address-allegations-of-price-gouging/
    7 replies | 344 view(s)
  • Madison320's Avatar
    04-01-2020, 05:51 PM
    I'm not that worried about a permanent loss of civil liberties because I think it's self correcting in the unlimited democracy we have now. Civil liberties affect the majority of voters so unless we go full dictatorship I don't think it'll happen for too long. What I'm more worried about is an assault on the already persecuted minority of producers. Because they are a small minority, and they are the ones that create wealth for the rest of us, I'm afraid they're going to get crushed in the aftermath of this crisis. The quickest path to becoming a third world nation is to start raiding or even worse nationalizing big businesses. They're already fleeing the country and this will probably make it much worse. Along those line I'm also worried about a big wealth redistribution plan. If we get high or even hyperinflation, there's going to be a small minority of people coming out of it with a majority of the wealth. They're going to have a target on their back. I can just imagine a politician promising to take from the minority of "traitors" who invested in gold and foreign companies and give it to the majority of "patriots" who loaned money to the US.
    6 replies | 653 view(s)
  • Madison320's Avatar
    04-01-2020, 02:55 PM
    Suppose the government declared that it would be the sole provider of eggs and any other private competitor would be thrown in jail. Would you consider that a free market in eggs? You might be able to make a weak case that having the government be the sole provider of something is a good thing. But to say that it's free market is dead wrong. Earlier you admitted that if the government just printed and gave everyone a million dollars we'd have hyperinflation. What about a half million? 100,000? 10,000? If my math is correct 10,000 a person would be 3 trillion, which is about the amount they plan on dropping from helicopters, right now, and they're just getting started.
    114 replies | 19281 view(s)
  • NorthCarolinaLiberty's Avatar
    03-31-2020, 03:41 PM
    Great stuff. Thanks. I am reposting some of the quotes elsewhere, including Fedbook. The Fedbook mentality is probably partially responsible for spreading this hysteria. The great thing about reposting this stuff is that doctors are saying it. Your detractors somewhat quiet down when doctors say it. They can't pull the conspiracy card on you.
    3 replies | 146 view(s)
  • NorthCarolinaLiberty's Avatar
    03-30-2020, 11:33 PM
    There's a new cable network called Circle TV. I don't have pay TV, but can still watch it because it's also over-the-air. They've been running these two specials. One is on Lynyrd Skynyrd, and the other is the Allman Bros. They really dig into detail like I've not seen for documentaries like these. They even detail the early years. Very enjoyable to watch. The Allman Bros reruns Tuesday at 9:30 in my area. Shows are from 2015, but still very enjoyable.
    19 replies | 1116 view(s)
  • Madison320's Avatar
    03-30-2020, 06:12 PM
    This was hilarious! https://www.youtube.com/watch?v=Z39BflnsTj8 Never mind. Bort Simpson already posted it.
    3 replies | 245 view(s)
  • Madison320's Avatar
    03-30-2020, 07:48 AM
    "Nobody has been more critical of the Fed than me." What a liar!
    3 replies | 245 view(s)
  • Madison320's Avatar
    03-28-2020, 07:46 AM
    I think the whole idea that we "need liquidity" is flawed. In a free market, with free market money, loans come from savings. If there's no savings and lot's of people want to borrow, the interest rate rises. The whole process is screwed up now. Interest rates are artificially low so everyone wants to borrow. There's no savings so the only way to borrow is to print the money.
    4 replies | 388 view(s)
  • Madison320's Avatar
    03-27-2020, 05:51 PM
    If we didn't have price gouging laws I think we'd have plenty of tp. If stores were allowed to raise prices during a crisis they'd be raising the price on all the stuff we're running out of and that would stop the hoarding. Plus suppliers would be ramping up production. Remember that during a crisis the choice is not between expensive stuff and cheap stuff, the choice is between expensive stuff and NO stuff. I have a feeling we're already starting to see the tip of the iceberg of rising prices=>price controls=>shortages.
    0 replies | 71 view(s)
  • Madison320's Avatar
    03-26-2020, 07:44 PM
    I knew this was going to happen because it's the path of least resistance. Borrowing and printing is easier than cutting spending. At least until prices start rising, then the game is over.
    5 replies | 182 view(s)
  • Madison320's Avatar
    03-26-2020, 06:26 PM
    I think we'll see rising prices for staple goods followed by price controls in the next few months. The excuse for price controls will be "anti-gouging". There'll be lots of articles written about "heartless" business owners taking advantage of the crisis. Then I think after awhile it'll dawn on people that this isn't just a temporary crisis caused by the corona virus and greedy businessmen, but it's a problem caused by massive money printing. That's when it'll hit the fan, when people realize that we need to either drastically cut back on government spending or get hit by hyperinflation.
    5 replies | 182 view(s)
  • Madison320's Avatar
    03-26-2020, 06:06 PM
    Only giving stimulus checks to people who make under a certain amount.
    33 replies | 1626 view(s)
  • Madison320's Avatar
    03-25-2020, 04:29 PM
    I agree. I don't really know how long it takes for printed money to show up in prices. Keynesians see printing (in 2009-2015) that only caused asset prices to rise and conclude that printing no longer causes price inflation. (Yay! We can all retire!) I see printing that only caused asset prices to rise and conclude that there must be some other factors temporarily limiting the inflation to assets. I don't suddenly conclude 1+1<>2 just because I made an observation.
    88 replies | 1366 view(s)
  • Madison320's Avatar
    03-25-2020, 04:14 PM
    I agree money should not be stolen and given to another. That's why I'm against Rand's position. If you steal mostly from the rich and only give it back to the poor you're taking from one person and giving to another. If you give the stolen money back to everyone it lessens the amount that was forcibly redistributed. For example if you steal $100 from everyone and then give back $100 to everyone, it's no big deal. But if you steal $100 from everyone and give it back to a select group you've now redistributed it.
    33 replies | 1626 view(s)
  • Madison320's Avatar
    03-25-2020, 07:26 AM
    Basic math says you're wrong. Let's see what happens when people start getting those freshly printed bills and heading to buy groceries.
    88 replies | 1366 view(s)
  • NorthCarolinaLiberty's Avatar
    03-22-2020, 09:32 PM
    Ranking from publication Freedom in the 50 States. (Lower number means less free.) Not totally one dimensional, but a single governor can be the difference. NY--50 CA--48 PA--20
    12 replies | 591 view(s)
  • Madison320's Avatar
    03-22-2020, 11:59 AM
    I think another important point is that markets are cyclical, they go up and down. If you just buy the dow and hold for 30 years, you're probably going to do ok. But currency is different. A high inflationary event wipes out anyone holding currency, permanently. So if you're holding cash or bonds it's a permanent loss.
    21 replies | 1017 view(s)
  • Madison320's Avatar
    03-22-2020, 09:40 AM
    I agree and I'm a big fan of Schiff's but I think it's important to emphasize that the real crash he is predicting is the collapse of the dollar. That hasn't happened yet. Most people's reaction to Schiff is that he's a stopped clock, that anybody can keep predicting a market crash and be right. What makes Schiff (and Ron Paul) unique is that they predicted that the stimulus wouldn't work and would have to be re-applied until the dollar finally caves. I didn't see one "expert" who thought the Fed would start lowering rates and relaunching QE. As far as that goes I was pretty much the only one on this website who thought this crash would happen before Trump's term was over. That's why I wanted Hillary to win, because I wanted the crash to happen on her watch so it would be blamed on socialism. Now it's going to get blamed incorrectly on capitalism.
    21 replies | 1017 view(s)
  • Madison320's Avatar
    03-21-2020, 09:09 AM
    That's a good point although that leads to a separate question. "Should the government ever be allowed to force closures?"
    38 replies | 1095 view(s)
  • Madison320's Avatar
    03-21-2020, 09:04 AM
    I think the government should compensate anyone who was shutdown by government force but that's it.
    33 replies | 1626 view(s)
  • Madison320's Avatar
    03-21-2020, 08:23 AM
    I thought they wanted to bailout everyone?
    38 replies | 1095 view(s)
  • Madison320's Avatar
    03-21-2020, 08:20 AM
    I would argue yes. I'm against all bailouts but if the government forces you to shutdown you should be compensated. That would be similar to having your property taking to allow for highway construction or something similar. On the other hand if you are not being forced to shutdown, but you are just losing customers due to the fact that no one is going out, that's different. You shouldn't get bailed out for that. Only if you are forcibly shut down.
    7 replies | 513 view(s)
  • Madison320's Avatar
    03-21-2020, 08:13 AM
    Social distancing has always been my goal. I'm going fishing today and I don't expect to see anybody else near me but my dog. :)
    38 replies | 1095 view(s)
  • Madison320's Avatar
    03-21-2020, 08:10 AM
    Something just occurred to me. While I'm opposed to all bailouts I would think if the government forces businesses to close they should be compensated.
    38 replies | 1095 view(s)
  • Madison320's Avatar
    03-21-2020, 08:00 AM
    A trillion here, a trillion there. Pretty soon you're talking about real money! Actually if you're talking about printing a trillion (which is the only place left to get the money) that's a pretty significant percentage of the total amount of money which is currently at 4.7 trillion and rising fast. We're going to get double digit inflation, then price controls, then shortages.
    33 replies | 1626 view(s)
  • Madison320's Avatar
    03-21-2020, 07:54 AM
    I disagree. I think laws should apply to everyone. No progressive taxation. No bailouts for big business. No discrimination laws that only apply to a business owner, etc.
    33 replies | 1626 view(s)
  • Madison320's Avatar
    03-21-2020, 07:47 AM
    Joy? The virus didn't upend the economy, socialism did.
    21 replies | 1017 view(s)
  • Madison320's Avatar
    03-20-2020, 07:01 PM
    I told my Trump supporting co-worker that I thought this was the objectively the weakest our economy has ever been in it's history. He looked at me like I was crazy but I told him it was based on the debt levels which are the true, objective measure of economic health. As you know unemployment numbers are a poor indicator. You can buy 100% employment for a while until everything collapses. Besides that communist countries have no unemployment, but I wouldn't be bragging about their economies. Not that this is all Trump's fault, he just continued the trend. The biggest problem with Trump was that he gave everybody confidence which helped blow an even bigger bubble. We might've been better off with Hillary. We would've gone right into recession with Hillary. At least we wouldn't have had so far to fall and the fall would be blamed on socialism not incorrectly on capitalism.
    5 replies | 435 view(s)
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