• Krugminator2's Avatar
    Today, 09:40 AM
    No, money printing doesn't cause economic growth. But not printing money to keep up with its demand sure can hinder growth and production. The Great Depression was caused by letting the money supply collapse. Guys like this author always worry about inflation and printing money but think letting money collapse is just swell and depression that follows is "cleansing" making up for all the rottenness the preceded it.
    1 replies | 46 view(s)
  • Krugminator2's Avatar
    Yesterday, 03:39 PM
    Fiscal policy whether it is tax cuts or government spending has shown time and again to have little effect over the short term. Monetary policy is everything. So the President is right to want the Fed to cut. Who cares if Trump says rates were too low under Obama? Everyone knows he is incoherent. That has nothing to do with what current policy should be. The Fed should be cutting aggressively
    3 replies | 94 view(s)
  • Krugminator2's Avatar
    Yesterday, 01:53 PM
    The economy can be 1) Presently good (It is. Very low unemployment) 2. And on the verge of recession without a rate cut. (Just about every recession starts just after the economy is looking great. Yield curve inversion is forward looking not an evaluation of the present.) Rates should be cut. Trump's tariffs don't help and Trump might want it for self serving reasons but it is the right policy. The problem with being reflexively anti-Trump means you have no real principles and get things wrong. The right policy is the right policy regardless if Trump is in the White House or Obama.
    3 replies | 94 view(s)
  • Krugminator2's Avatar
    08-17-2019, 07:20 PM
    Sure. If you don't care at all about actually living in free society. Everything can be theoretical and you can always whine about ideological purity. On the other hand, I take the view that 60 percent of something is preferable to 100 percent of nothing.
    22 replies | 437 view(s)
  • Krugminator2's Avatar
    08-17-2019, 06:47 PM
    I was at a point where I was getting pretty established but I was very depressed. I had the exact feeling that I would waste my life if I didn't make a change. It is the most sinking persistent feeling imaginable. The company had done some things to keep me but the compensation plan was spread out over a year to entice me not to quit. But I just quit with no real plan one day. I was way past the breaking point. It is hard for me to say "just follow your bliss" to someone else. I had a little money saved and no debt. I had minimal expenses. And I was willing to make not very much money for 5 or 6 years and live basically like a homeless person. Plus I was in my mid 20s. I don't know of really anybody who did what I did so "recklessly". I was ridiculed by my dad and my mom was super ashamed, though was less vocal. I really didn't have a backup and had never worked in my college major (engineering). So I didn't have a resume. But it was the single best decision I ever made. I have a great life. You spend a huge part of your life at work. My feeling is and was chasing something you enjoy and improving at it is far better even if you never make more money, than staying in something you hate. And the reality is if you stick with something you like long enough you will probably make more money anyway. That said, I don't know most people are wired like me. A few things that had a big impact on me around that time were The Fountainhead, Pursuit of Happyness with Will Smith, and Millionaire Republican by Wayne Root (cheesy title and cheesy author but inspiring book). Ayn Rand took odd jobs and it took a couple of decades before she became a big success. Roark in The Fountainhead had a lot struggles. It is one of those things if you make the choice, you end up finding a way. I don't think most people are willing to persist with something for 10 years or more years though.
    60 replies | 539 view(s)
  • Krugminator2's Avatar
    08-17-2019, 06:22 PM
    Massie and Amash are in the House and will never win a state election. Rand has less than zero percent chance of being Majority Leader. Mike Lee has a slightly higher chance of ever having a leadership position but it is still very low. To be in leadership you have to be somewhat centrist within the party. You have to win over Susan Collins and people like Rand Paul. McConnell for all of his faults is far more conservative than any Republican Senate leader in recent history. And he is more conservative than guys like Boehner and Dennis Hastert. And he probably is even more conservative in record in recent years than Paul Ryan.
    22 replies | 437 view(s)
  • Krugminator2's Avatar
    08-17-2019, 03:26 PM
    Right out of college, I had a job where I left for the office before 7 am and got home after 9 pm every night. Worked Saturday AM and had company functions on half the weekends I was expected to attend. I did that for 3 years and a month and with zero days off except Christmas day and Thanksgiving day and cried all the time. There are basically two people who haven't cried at their job. Those who are content with mediocrity and aren't going for the brass ring. They don't have higher ambitions so the inevitable setbacks don't phase them. And people who used to cry but were able to carve out a niche with something they enjoy. I fall in the latter and haven't cried in 10 years but still have the occasional 2AM walk around the block. The 8 out of 10 number seems right.
    60 replies | 539 view(s)
  • Krugminator2's Avatar
    08-16-2019, 08:00 PM
    1) I compare to the alternatives not some fantasy ideal that has zero chance of happening. 2) I don't support a balanced budget. That is one of the dumber ideas that Rand Paul constantly pushes. I am for an unbalanced budget but with spending cuts. A balanced budget has nothing to do with small government. LBJ had a balanced budget. Reagan ran huge deficits. Walter Williams https://archive.triblive.com/opinion/featuredcommentary/13265977-74/walter-williams-a-better-idea-than-a-balanced-budget-amendment St. Milton
    22 replies | 437 view(s)
  • Krugminator2's Avatar
    08-16-2019, 06:19 PM
    It is interesting people shit on Mitch. The guy has held the line on a number of things. Never had a tax hike. Isn't caving on gun control. Jammed through a bunch of good judge. Most notably he held off a Supreme Court vote for a year. Gorsuch is a great judge. Mitch isn't ideal but compared to previous leaders like Dole, Lott, and Frist, he is a god amongst men. As far as I am concerned he should serve until he is 100.
    22 replies | 437 view(s)
  • Krugminator2's Avatar
    08-15-2019, 07:34 PM
    1162165942618611712 In case the Tweet is deleted at some point. Total Returns, last 20 years... International Stocks: +103% US Stocks (S&P 500): +209% Long-Term US Bonds: +342%
    1 replies | 80 view(s)
  • Krugminator2's Avatar
    08-15-2019, 04:16 PM
    Wow. Pretty good guest.
    3 replies | 391 view(s)
  • Krugminator2's Avatar
    08-15-2019, 09:24 AM
    Rothbard said it about shoes.
    87 replies | 1019 view(s)
  • Krugminator2's Avatar
    08-15-2019, 09:18 AM
    No I don't think so. But good work ripping off the line of a third rate economist and making it your own though.
    87 replies | 1019 view(s)
  • Krugminator2's Avatar
    08-15-2019, 09:02 AM
    No. I am not anti-government. I don't see government as a regime. I am thankful I live in a relatively free society. America is a great place. I don't want the jungle rule that you would like to live in. You might not have a government. But you would also have no freedom.
    87 replies | 1019 view(s)
  • Krugminator2's Avatar
    08-15-2019, 08:57 AM
    This is the kind of insanity of why people laugh at anti-government nuts. Not freedom nuts. Anti-government nuts. I remember people booing people Gary Johnson being for driver's licenses. It isn't an infringement on anything. Having a system of license plates makes sense for some many reasons. Insurance, auto history, catching criminals, etc. It is very easy for government to do this. Not so easy in a private system. In part because their would be tons of people who wouldn't opt in to whatever system you are a proposing. The cost to the individual is minimal but the gains are large.
    87 replies | 1019 view(s)
  • Krugminator2's Avatar
    08-15-2019, 08:52 AM
    Vin and serial numbers aren't prominently displayed. And it isn't just if a car is stolen. If someone gets pulled over, it pretty nice to know the arrest history and what a cop is dealing with. And waiting until someone hits a person is ridiculous. If roads were privatized, there would be extensive testing and people would be kept off for safety reasons. So it isn't even a freedom issue with you. It is just an anti-government issue which is not the same as freedom.
    87 replies | 1019 view(s)
  • Krugminator2's Avatar
    08-15-2019, 08:35 AM
    You make a strong point. Car gets stolen? Too bad. You are never getting it back. Because license plates are tyranny. Just a cost of freedom. Want to keep Mr. Magoo off the road? It's his right to drive until he kills someone slaver.
    87 replies | 1019 view(s)
  • Krugminator2's Avatar
    08-14-2019, 04:57 PM
    Wrong for 243 years and counting. Maybe some day everyone will go back to living like cavemen. Wouldn't count on it though.
    23 replies | 317 view(s)
  • Krugminator2's Avatar
    08-14-2019, 03:43 PM
    They are done at the state level. What part of the Constituion would make them unconstitutional? Given that roads are public, requiring a minimum level of competency is hardly an infringement on freedom. I don't want some 102 year old blind woman on the road crashing into people. It basically one of the few licenses I support. I also support licensing dogs, cars and guns. I am strongly against occupational licensing because they are anti-competitive. They end up raising costs to consumers.
    87 replies | 1019 view(s)
  • Krugminator2's Avatar
    08-13-2019, 08:03 PM
    I am not really a big fiction reader so I don't know what he says is a sin and what isn't. Luckily we aren't a theocracy and have no reason to consult mystical writings for government policy.
    32 replies | 426 view(s)
  • Krugminator2's Avatar
    08-13-2019, 07:51 PM
    God sounds like big government guy. Maybe he should mind his own business instead of using government violence to get between voluntary transactions. And no. Local governments should not be able to restrict prostition anymore than they should be able to restrict guns, gambing, or drug use. It is interesting to me the hysteria over even the tiniest commonsense regulation on guns but not nearly the reaction on the zillion other infringements. Pretty incoherent to not defend prostitution with the same energy as gun ownership.
    32 replies | 426 view(s)
  • Krugminator2's Avatar
    08-12-2019, 08:24 PM
    In a market system, you get paid to take risk. Since banks aren't allowed to fail because of deposit insurance and federal guarantees, the amount you receive in interest should be minimal to non-existent for a savings account. I have never understood the entitlement to bank interest. You aren't taking any risk so you shouldn't be compensated. The banks are doing YOU a favor and providing YOU a service. Are you going to keep money in a cookie jar and have it get stolen or lost? The whole point of interest (and the only reason banks have ever charged interest) is to entice deposits so that they can lend. But banks on the whole have more money than they can lend out. An example of when you should get interest is you buy long dated Treasuries or CDs, you are lending money and subjected to inflation risk so you should get compensated. As it is, you should be keeping minimal amounts in savings. The last time I had a savings account was when I was about seven and my parents set it up so I would learn what a bank book was. You should have assets that produce an income stream, whether it is stocks, your own business, or rental real estate. Gold and Bitcoin are fine places to buy on speculation when it makes sense but those aren't investments to park money.
    10 replies | 315 view(s)
  • Krugminator2's Avatar
    08-11-2019, 04:59 PM
    Stephen Hawking was an economically illiterate buffoon. https://mises.org/wire/why-robots-wont-cause-mass-unemploymen
    47 replies | 737 view(s)
  • Krugminator2's Avatar
    08-11-2019, 04:48 PM
    I think a lot of proposals would eliminate the minimum wage under UBI. The biggest problem I have with UBI is that it presupposes people would actually use it rationally. If you eliminating the welfare state and had UBI, you would still have a huge swath of people who wouldn't buy health insurance or housing and instead spend it on crack and then some politician would propose more welfare for them. Also the dollar amount of UBI will constantly be raised. In theory UBI is cheaper than the current welfare state. Charles Murray talks about all the money that will be saved. In practice, it will probably be never ending.
    47 replies | 737 view(s)
  • Krugminator2's Avatar
    08-07-2019, 07:16 PM
    The fishing expedition part is pretty accurate. Without going into too much detail I got a notice saying I owed on some horseshit technicality. I protested and just found they ruled in my favor. But it is pretty intimidating. And it took hours of work dealing with different people and months. I can say some people at the IRS are friendly and some get off on their power even when they are clearly wrong. As far as this thread, just pay your taxes. The rare times I trade bitcoin, I use the futures so I don't have much of a choice. But not paying taxes in bitcoin opens the door for an anal probe.
    38 replies | 1606 view(s)
  • Krugminator2's Avatar
    08-07-2019, 05:39 PM
    Krugminator2 replied to a thread Stocks: Market Crash Looming in Economy & Markets
    3140 replies | 390640 view(s)
  • Krugminator2's Avatar
    08-07-2019, 05:32 PM
    Krugminator2 replied to a thread Stocks: Market Crash Looming in Economy & Markets
    @specsaregood
    3140 replies | 390640 view(s)
  • Krugminator2's Avatar
    08-06-2019, 06:54 PM
    Markets aren't always right. They are almost always wrong but the current price is the best guess. I would think debt would increase bond yields but Japan has even larger debt than the US and has had low rates for decades. It is possible the low yields are pricing in worldwide deflation. That is why I don't make guesses on this stuff. As to why people would accept negative rates. Banks are backstopped by governments. It is "risk free" so people might be okay paying a fee to warehouse cash. I heard Law rockwell describe full reserve banking and he said the way banks would make money in that system is from people paying a fee to store money.
    15 replies | 749 view(s)
  • Krugminator2's Avatar
    08-06-2019, 05:39 PM
    I was just coming here to post this. In all fairness, the LP Convention is a clown show too.
    36 replies | 535 view(s)
  • Krugminator2's Avatar
    08-06-2019, 01:41 PM
    I have always like Neil deGrasse Tyson. His science shows were excellent. He is on the political left but doesn't demonize people on the right. He NEVER brings up his race. He is a genuinely bright guy who deserves the success he has had. This Tweet is further proof that he is a very fact and reality based person.
    9 replies | 217 view(s)
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