Essential Economics for Politicians
- Thread starter Bruddah IZ
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Bruddah IZ
DA
Your answer.
Bruddah IZ
DA
Crickets
You have proven in our dialogue that you know nothing about economics and financial value, thereby surrendering any more opportunities to debate economics with anyone. As I suggested, get your head out of these old books and videos and start investing in things and learn how the world actually works for people who pay taxes, invest money, operate companies, etc.
You talk like a college sophomore from 1962.
Bruddah IZ
DA
You were the only one debating. Mostly with yourself. Go watch the Big Short again.
Bruddah IZ
DA
We easily forget the economic rationale that Marx taught us, namely, that socialism would have to provide unprecedented abundance if it were to sustain social liberation of any kind. With a few notable exceptions, leftists no longer find it fashionable to discuss economics at all beyond the now routine rejection of a "command economy" and some disingenuous mumbling about the necessity for markets. But where is there a serious attempt to determine the extent to which any socialism could function without a command economy or to show how a socialist economy could integrate markets? A few left-wing economists, most notably Louis Ferleger and Jay Mandle, tried to raise these questions long before the collapse of the socialist economies, but they were effec- tively shut out of the left-wing press and are still ignored. And we may doubt that the wry remark of Nancy Folbre and Samuel Bowles, two other respected left-wing economists, will cause a wrinkle: "Leftwing economists— among whom we count ourselves—have thus far failed to come up with a convincing alternative to capitalism." (Nancy Folbre and Samuel Bowles, letter to the Nation, Nov. 29, 1993; and see also, Louis Ferleger and Jay R.Mandle, A New Mandate: Democratic Choices for a Prosperous Economy, University of Missouri Press, 1994).--Genovese
Sheriff Joe
DA
Bruddah IZ
DA
I’m waiting for her to make it mandatory for politicians to pay their interns.Wait until this kook is running the democrat party.
Sheriff Joe
DA
She is just a young republican.
I don’t need to watch a movie to learn about economics. I live life. You know, make a few bucks, pay taxes, invest. Or maybe you don’t know. You couldn’t figure out the assets vs. liabilities thing and that’s as basic as it gets. BTW, your commentary on mortgage-backed-securities was more stuff showing you’re around the bend. Keep reading up and watching YouTube videos about John Maynard Keynes and Ken Galbraith...it’s working for you here on the forum. It’s like you’re playing fantasy football but with economic ideas that you don’t know anything about. LOL!!!
Bruddah IZ
DA
Lol! Yup. Pretty basic.
Bruddah IZ
DA
Who is receiving loans from the Fed today? Who is the Fed paying interest to? Are there any conflicts about how these payments are determined? Are there any checks and balances on the size of these payments? The Federal Reserve Act actually forbids the Fed from buying some of the troubled assets they purchased in 2008. Yet they did it anyway.
Bruddah IZ
DA
The movies is about finance not economics.
Bruddah IZ
DA
Does the bank or anyone else pay your loan for you?
Now that I have tried to help you with the definition of an "asset" (but I think you still don't get it. do you still believe an asset must be "income-producing?"), I can tell you also that, in most loan situations, the bank is actually the "lender" and the "borrower" pays the loan back to the bank. So asking if the bank pays the loan on behalf of the borrower yet again shows a shocking level of ignorance about mundane finance.
There is nothing to be ashamed of when your own little world does not involve any sophisticated financial matters. Your embarrassment should come from your daily bombastic treatises on finance and economics, all of which are cut-and-pasted from books and YouTube and almost always prove that you have never operated, yourself, in the financial or real estate or business sectors.
Bruddah IZ
DA
You were lost. I get it.
Bruddah IZ
DA
I don't watch those guys. I just watch the Keynesians at the Fed.
Bruddah IZ
DA
Just wanted to make sure you were clear on the direction of cash flows, from your account to the bank. My beliefs have nothing to do with what an asset is. If you're a borrower that's just the way it is. You pay the lender for the use of money. BTW, you never stated what the purchase price and interest rate was in your example. I wonder why?
Bruddah IZ
DA
Very few people understand finance and economics. That's why you speak of them as if they are the same thing. We'll get you there. In your example of the home sale, what did you do with the profits?