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The Fall of China?
  • babypandababypanda

  • 18 Replies sorted by
  • Vitaliy_KiselevVitaliy_Kiselev

    Lol, here charts and fresh mind could help.

    Otherwise it is Austrian guys at their "best".

  • babypandababypanda

    not sure i get what you mean. but yeah, this guy might be a douchebag spewing bs.

  • Gamer_sGamer_s

    Hey @Vitaly_Kiselev, as an economic illiterate, I would be very interested in the fallacies of austrian economic theories. Could you point me to some good sources? thanks

  • Vitaliy_KiselevVitaliy_Kiselev

    I would be very interested in the fallacies of austrian economic theories. Could you point me to some good sources? thanks

    You can just go back to first half of 20 century and check why this guys were no longer part of people who really decide something.

  • brianlbrianl

    @Gamer_s the Bible for the Austrians is the road to serdom by Frederick Hayek. Excellent book actually. If you read it you'll get how Hayek is the L Ron Hubbard of this movement.

  • zcreamzcream

    Here is another take...The first half of the 20th century had 2 World Wars. The Nazis, Soviet and the British-American Empire needed deficits to fund war spending on their empires. Classical Economics and the Gold Standard does not permit deficits. Hence Keynesian economics was accepted by the imperialists. It essentially gives the power to create money, allows deficits, and makes both crony socialists and crony capitalists giggle with glee!

  • zcreamzcream

    And @brianl you may wish to read how Hayek actually wrote his book. It was a reaction to the collapse of the Weimar. Perhaps you may wish to read why it collapsed.

  • Vitaliy_KiselevVitaliy_Kiselev

    Gold Standard does not permit deficits

    Well, even basic understanding of economy is enough to understand why gold standard could not be used in exponentially rise phase. It has no use at all, actually.

    It essentially gives the power to create money, allows deficits, and makes both crony socialists and crony capitalists giggle with glee!

    Everyone is bad, I got it. Everyone except poor little guy living far in the woods, eating nuts and searching for his gold that he buried but forgot where exactly.

  • Gamer_sGamer_s

    @Vitaly_Kiselev; It unfortunate that my time-machine broke down last week and spare parts wont be delivered until after summer vacations...

    @Brian; yes, we'll the little I've seen and read kind of made sens to me, hence the question to Vitaly. For a lay person It's easy to be misled in any kind of scientific field (low carb diets in the nutrition field is a prime example a bit closer to home for me), so it is always helpful to have someone that know the field point you in the right direction to begin with... I'll try my luck with the book ;)

  • babypandababypanda

    low carb diets are bad? oh shoot!

  • Gamer_sGamer_s

    @baybypanda such sarcasm, much wow.

  • babypandababypanda

    well, it wasn't really sarcasm. they could be bad. 10 years ago i don't even think anyone would dispute it. but now we're being bombarded with all sorts of conflicting info.

  • Gamer_sGamer_s

    That is exactly my point. Your impression of the nutritional field is that there is a lot of conflicting evidence for weather low carb/high fat/high protein diets are beneficial or detrimental to human weight loss and/or health, but in fact there is just as much consensus now (if not more) as there has ever been, when you look at the data.

    There are however plenty of illiterate/lying/business oriented nutritional "experts" and "gurus" around who like to tell fat people and industry what they want and like to hear, and these guys appear quite often in msm and make people confused. Still, the data tells the same story as 10, or even 40-50 years ago...

    And I assume it's a similar situation in many other fields, like economy, which is why I asked to be pointed in the right direction. To which i got the answer to go back in time and check myself...

  • Vitaliy_KiselevVitaliy_Kiselev

    @babypanda @Gamer_s

    Keep to the topic.

    To which i got the answer to go back in time and check myself...

    You also have some issue understanding words. I gave suggestion to look what happened in economics and economics discussions in first half of 20 century that all this Austrian guys became joke.

  • babypandababypanda

    Lol, here charts and fresh mind could help.

    This analysis has charts. Not sure about the 'fresh mind' part.

  • oniononion

    Iceland effectively took the Austrian solution to the Great Financial Crisis despite having the worst debt:gdp ratio of any developed country. They recovered better than pretty much any other country, many of whom are still mired in toxic debt they refuse to value at market prices

  • Vitaliy_KiselevVitaliy_Kiselev

    This analysis has charts. Not sure about the 'fresh mind' part.

    What is the source if this strange thing?

  • Vitaliy_KiselevVitaliy_Kiselev

    Iceland effectively took the Austrian solution to the Great Financial Crisis despite having the worst debt:gdp ratio of any developed country.

    What? You mean that this country that rejected some (not all!) of bankers proposals did this because it is exclusive Austrian approach?

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