• Krugminator2's Avatar
    Yesterday, 12:47 PM
    I have no idea what the first sentence even means. Markets today are infinitely more competitive and on a far more level playing field for the average person than when Mises was alive. The amount of market manipulation is probably 1/1 millionth what it was in the 1920s. Maybe learn some basic market history. Remininsces of a Stock Operator will fill that gap and also make you a less shitty trader so you won't need to whine about about unfair things are.
    37 replies | 1632 view(s)
  • Krugminator2's Avatar
    05-13-2021, 04:40 PM
    No need to go on. Mises would have no problem with any of that. Computers and algorithmic trading are called technological progress. No need to be fearful. They have made markets more efficient and far more fair for the average person. Citadel isn't hurting you and I have no idea why having a hedge fund and a proprietary market making firm under the same company would be a problem. The reason three market makers dominate isn't because they are "allowed" any more than Wal-Mart is allowed to have a large market share. It happens because they won the competitive battle. There were dozens if not hundreds of HFT firms just 10 years ago when Zero Hedge started babbling about it. Most went out of business because of competition. And almost all financial regulations outside of capital requirements for banks are counterproductive.
    37 replies | 1632 view(s)
  • Krugminator2's Avatar
    05-12-2021, 04:18 PM
    Any inefficiency like a difference in the futures market and physical market would get arbed away if transaction coats are sufficiently low. At the root of any talk about manipulation in large liquid markets is a fundamental lack of belief in markets and freedom itself. People trade if they believe they stand to benefit. If someone manipulates a market away from fundamental value someone else has an incentive take the opposite. Mises would role in his grave at the Zero Hedge manopulation conspiracy theories.
    37 replies | 1632 view(s)
  • Krugminator2's Avatar
    05-11-2021, 08:30 PM
    I would give Biden a D-. The stimulus was the most unneeded and irresponsible bill in history. He is paying people not to work when the virus is subsiding. Had a huge jobs miss. People only seem to care about how things are going right this second in their lives. The actions that Biden is taking are like the late 1960s when everything was rosy but planted the seeds for the misery of the 70s. I just saw a stat that if interest rates were 10%, the interest payments alone would consume 100% of current tax revenue. these MMT people think you control inflation with taxes but it would take massive tax hikes to have any possible effect. The tax hikes Warren Buffett proposed would pay for 3 days of government. If you confiscated all the wealth of the Forbes 400 it would pay for 7 months of government. As terrible as Trump was on spending somehow Biden is managing to be infinitely worse.
    7 replies | 230 view(s)
  • Krugminator2's Avatar
    05-10-2021, 06:40 PM
    It looks like a long slow descent down might have started today.
    212 replies | 15325 view(s)
  • Krugminator2's Avatar
    05-09-2021, 04:52 PM
    https://www.wsj.com/articles/bidens-vaccine-ip-debacle-11620341686?st=xxm94hc7gded7hj&reflink=article_email_share
    2 replies | 122 view(s)
  • Krugminator2's Avatar
    05-09-2021, 02:01 PM
    The only thing I agree with in any of this analysis is corporate welfare should be eliminated. That should be done with eliminating stimmy checks as well. I don't agree the "rich getting richer" is a problem. I think the income inequality debate is pure leftist nonsense. https://www.amazon.com/dp/B015CKO1DY/ref=dp-kindle-redirect?_encoding=UTF8&btkr=1 For the same reason, I don't see bottom income earners are also getting richer (which they are) as problem. Wealth inequality is self correcting. If it from something artificial there will be a bust and the gap will close To the extent income gaps have widened, it is because of the changing economy. Creativity and knowledge are more highly prized and the ability to manage a global business is paid more. That information wouldn't be worth anything. The Federal Reserve doesn't control interest rates. https://www.econlib.org/library/Columns/y2013/Hummelinterestrates.html
    108 replies | 3334 view(s)
  • Krugminator2's Avatar
    05-08-2021, 04:17 PM
    "They" 1356359766495399936 1386500291705675782
    37 replies | 1632 view(s)
  • Krugminator2's Avatar
    05-08-2021, 01:58 PM
    If M2 grew at 2% and productivity grew at 2% you would zero inflation over the long term. Stimulus checks are helicopter money and inflationary. They increase M2. I thought money was far too tight after the financial crisis. History shows that view was correct. There was little inflation. Now money is extremely loose. M2 went up by 25% in a year and is going to grow by double digits this year. You will have an economic boom followed by higher consumer prices. I don't think there will be out of control inflation anytime soon because I think most people still think the Fed will throw on the breaks but I wouldn't be stunned to see 4-6% this year and next.
    37 replies | 1632 view(s)
  • Krugminator2's Avatar
    05-08-2021, 06:45 AM
    I will say I kind of agree with AOC on this. The base salary for being in Congress is $174k. If you have to maintain residencies in NY and DC and pay student loans, you are definitely not getting rich. Of all the attacks on people in Congress, saying they make too much doesn't seem great.
    108 replies | 3334 view(s)
  • Krugminator2's Avatar
    05-07-2021, 07:41 PM
    Increasing the money supply by 8x doesn't imply prices rise by 8x. You have productivity growth and population growth. The number that matters is what is in the hands of people who would bid up prices. Smart Austrian's take on this https://www.wsj.com/articles/the-money-boom-is-already-here-11613944730
    37 replies | 1632 view(s)
  • Krugminator2's Avatar
    05-07-2021, 05:01 PM
    And he's an idiot. Amash and Ron are right that libertarians can overlap with progressives on issues but that's all true of libertarians and neoconservatives. To the extent that progressives overlap with libertarians it usually by accident and the philosophical premises are almost always opposed. Imagine if Amash said John Bolton and libertarians can be great allies. John Bolton is a big Ayn Rand fan is infinitely more libertarian than AOC. But it would of course to be ridiculous to sing kumbaya with John Bolton. Amash and AOC and Ron and Kucinich work together because they are on the fringe not because they are ideological allies.
    108 replies | 3334 view(s)
  • Krugminator2's Avatar
    05-06-2021, 08:48 PM
    I saw the full quote recently for the first time and I liked it. Materially America has never been better but I think the culture is really rotting fast. And the worst part is there is a long ways to fall culturally. There is still some culture of individualism but think how unlikely it is for someone under 30 to be an individualist today. These massive bills handing out money are the worst thing to ever happen. Not just because of the dollar cost but their effects. People get self esteem from being productive. And being productive doesn't necessarily mean famous or rich. Doing work no matter what it is is noble. Cutting people checks is like giving people heroin. And now people are hooked.
    3 replies | 304 view(s)
  • Krugminator2's Avatar
    05-06-2021, 07:07 AM
    Absolutely amazing Stossel is still going strong.
    3 replies | 304 view(s)
  • Krugminator2's Avatar
    05-05-2021, 04:11 PM
    Gamestop is on right at a major inflection point. If it holds below 155 or so think below 100 is in the cards. Wasn't aware of that Congress is talking about this tomorrow. Will be interesting to see if that moves the stock.
    212 replies | 15325 view(s)
  • Krugminator2's Avatar
    05-04-2021, 06:16 AM
    Maduro is a Communist who served under Chavez. He has no right to life, let alone the right to hold power. The United States can morally do anything it wants to the Venezuelan government. If we are giving aid then attaching strings to oust the government is a good idea. Incentives matter.
    6 replies | 299 view(s)
  • Krugminator2's Avatar
    05-01-2021, 11:20 AM
    I have read the Mises site since the early 2000s. Quite confident they wouldn't agree with the assertions. Think how crazy these statement are.
    25 replies | 3198 view(s)
  • Krugminator2's Avatar
    05-01-2021, 11:06 AM
    Me Your article.
    42 replies | 1274 view(s)
  • Krugminator2's Avatar
    04-30-2021, 03:31 PM
    Most people who die of Covid are old. Only 3% of people over 65 smoke marijuana https://www.statista.com/statistics/737849/share-americans-age-group-smokes-marijuana/
    42 replies | 1274 view(s)
  • Krugminator2's Avatar
    04-29-2021, 08:04 PM
    They pretty much drive humanity forward in the United States. Immigrants Account for Two-Thirds of US Economic Growth Since 2011, Analysis Finds https://www.newsweek.com/migrants-immigration-1113006 "Nearly Half of All Fortune 500 Companies Were Founded By Immigrants or Their Children, Study Finds" https://www.newsweek.com/immigrant-founded-fortune-500-companies-us-gdp-1450498 Some immigrants:
    37 replies | 1424 view(s)
  • Krugminator2's Avatar
    04-29-2021, 06:57 PM
    So you think the average white male in America is more ambitious and has the same or fewer employment opportunities than immigrants from the Ukraine or Vietnam or South Korea? Okay.
    37 replies | 1424 view(s)
  • Krugminator2's Avatar
    04-29-2021, 06:37 PM
    Pretty sure the people she is talking about have been dead for 150 years. I'll have to live with that anguish. And I'll take my chances of not inbreeding.
    21 replies | 716 view(s)
  • Krugminator2's Avatar
    04-29-2021, 06:27 PM
    Coming to America is an entrepreneurial decision. They also tend to be poorer with fewer opportunities. It makes sense immigrants in general would be more likely to start businesses. People who were born here tend to have more opportunities for employment and tend to be less ambitious so fewer start their own business.
    37 replies | 1424 view(s)
  • Krugminator2's Avatar
    04-29-2021, 06:09 PM
    Why? I don't care even a little bit. The actions of relatives and descendants are not a reflection on me good or bad. If you have children I certainly understand having an interest in their life because you have some influence on how they turn out and it is a reflection on you. But outside of that I have no interest in anyone's history who I have never met or people I see once every few years.
    21 replies | 716 view(s)
  • Krugminator2's Avatar
    04-29-2021, 04:56 PM
    Dying of AIDS or malaria by age 50 in Africa while living on $1500 a year with statistical likelihood of not having indoor plumbing seems like home. /S My mom always sends me shit on old descendants and I don't care. I accept no unearned guilt or accomplishments from people before me. I am however thankful for the founding ideals of America because they are morally superior to anything that has existed in human history. America is meant to be a a collection of individuals free to pursue their own interests not a collection of tribes.
    21 replies | 716 view(s)
  • Krugminator2's Avatar
    04-27-2021, 07:54 PM
    I think it would be good to have people like this guy be the spokesmen for the party moreso than the last few nominees. I think they have a similar appeal to Ayn Rand and Murray Rothbard. Black and white visions are easy to understand. It is why Ron Paul was popular. Nuance doesn't sell. Same thing with the non-aggression principle. Do I agree with non-aggression principle as an absolute? Absolutely not. But if people learned nothing else other than the non-aggression principle, it would make policy much better.
    7 replies | 521 view(s)
  • Krugminator2's Avatar
    04-26-2021, 12:43 PM
    Krugminator2 started a thread IKEA Guy in Open Discussion
    ' Kind of funny mostly because this is how I thought when I worked jobs like this.
    1 replies | 125 view(s)
  • Krugminator2's Avatar
    04-25-2021, 08:48 PM
    Individual investors probably have lost multiples more worrying about inflation than the actual inflation itself. Realistically the best course of action is just to have a 60-40 stock/bond portfolio for anyone reading this. Think about how much money has been lost owning gold. Ron Paul's net worth would probably be quadruple what it is now had he owned equities instead of metals. Real estate historically has done well during inflation but it sure feels like real estate is in a bubble now. That said, I think equities will probably be lower three years from now than they are today. And I have a third of my net worth in Palladium and maybe 5% in VALE which are tied on some level to inflation.
    7 replies | 512 view(s)
  • Krugminator2's Avatar
    04-21-2021, 08:54 PM
    Sorry I misunderstood. So you want the Federal Reserve to pursue an extremely loose policy to get inflation to double digits so you can have double digit mortgage rates. Makes a lot of sense. Smart take.
    20 replies | 1595 view(s)
  • Krugminator2's Avatar
    04-21-2021, 08:16 PM
    You, interest rate central planner, pulled the number 12% out of thin air for some reason. It seems like your statement is pretty clear. 12% because..... Well.... Who knows... You want 12% because there is something magical about it and something about Paul Volcker. I. free marketer, do not care what the rate of interest is. Ever. Because interest rates are not monetary policy. Interest rates are a market response to monetary policy.
    20 replies | 1595 view(s)
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