Mark Blyth, the economist who's making sense

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SneekyNinja

SneekyNinja

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ttystikk said:
The current global financial situation is unstable and untenable. But will it crash the same way as happened in 2008? Not likely, since bankers and regulators know to look for the signs.

But what about a crisis of faith in currencies themselves?

https://surplusenergyeconomics.wordpress.com/2017/09/10/105-anticipating-the-next-crash/
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It's cyclical, genius.

Predicting another crash is like predicting itll be morning after the night.

Wake up for a piss and this is the sort of drivel I get to read...no wonder I don't visit daily anymore.
 
Fogdog

Fogdog

Well-Known Member
ttystikk said:
Lol

Yet another false equivalence.

Why am I no longer surprised?
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LOL. false equivalence didn't apply. Not surprised.

What I said was factual. The 12% who voted for Sanders and then Trump were in fact racists. There was an article put out by NPR about voters who flipped from Sanders to Trump and helped turn the election results to Trump. You said you were going to study it. You missed one of it's findings. Those 12% of voters were pretty much racist.

88% of Sanders voters went on to vote for Clinton. I have no gripes about any of this.
 
Gquebed

Gquebed

Well-Known Member
ttystikk said:
The current global financial situation is unstable and untenable. But will it crash the same way as happened in 2008? Not likely, since bankers and regulators know to look for the signs.

But what about a crisis of faith in currencies themselves?

https://surplusenergyeconomics.wordpress.com/2017/09/10/105-anticipating-the-next-crash/
Click to expand...

It is believed that Communism crashed and burned economically in the late 80s, after their debacle in afghanistan, but really... that is merely when people found out that Communism had collapsed. In fact, the Soviet Union was broke a couple decades before.

Same thing with capitalism. Everbody thinks 2008 is when capitalsim caved in on itself, but in fact it failed a couple decades before.

2008 was just an after death convulsion. There may be a couple more yet before rigor mortis sets in on capitalism. But make no mistake... it is dead and has been for a while.
 
StonerCol

StonerCol

Well-Known Member
The situation in the EU represents an interesting example:
The richest country in the EU Germany.
Germany basically makes the decisions in the EU regarding any major policy. The EU is supposed to be a democratic organisation yet it allows those with the most money more of a say. That isn't democracy. The German money acts as an electorate in terms of it gives more votes/power to Germany. Democracy is perverted by economics. The 2 are getting mixed up by the politicians in the EU.

The same happens on a domestic level also.
 
Unclebaldrick

Unclebaldrick

Well-Known Member
Gquebed said:
It is believed that Communism crashed and burned economically in the late 80s, after their debacle in afghanistan, but really... that is merely when people found out that Communism had collapsed. In fact, the Soviet Union was broke a couple decades before.

Same thing with capitalism. Everbody thinks 2008 is when capitalsim caved in on itself, but in fact it failed a couple decades before.

2008 was just an after death convulsion. There may be a couple more yet before rigor mortis sets in on capitalism. But make no mistake... it is dead and has been for a while.
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Communism's debacle in Afghanistan? Lol. Is that what that was?

You might want to learn the difference between communism and the former Soviet Union. They do not have a lot in common.
 
Gquebed

Gquebed

Well-Known Member
Unclebaldrick said:
Communism's debacle in Afghanistan? Lol. Is that what that was?

You might want to learn the difference between communism and the former Soviet Union. They do not have a lot in common.
Click to expand...

I know it well. I lived there. My entire family still resides in various parts of the former soviet union.
 
Fogdog

Fogdog

Well-Known Member
Unclebaldrick said:
And yet you think the invasion of Afghanistan was an element of communism?
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Good point. Stalin's totalitarian government wasn't communism either. As was demonstrated by the famine in Ukraine where farmers were definitely not in charge of production.
 
Gquebed

Gquebed

Well-Known Member
Unclebaldrick said:
And yet you think the invasion of Afghanistan was an element of communism?
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What?
Who the fuck said that?

I said people think that USSRs war in afghanistan caused the USSR to go broke. Which is wrong. Inefficiency and corruption caused the financial collapse of the communist economic system decades before they invaded afghanistan. The same thing happened in each republic, one by one...

They were bankrupt a long time before they invaded afghanistan.

But that wasnt my point.
 
Fogdog

Fogdog

Well-Known Member
Gquebed said:
What?
Who the fuck said that?

I said people think that USSRs war in afghanistan caused the USSR to go broke. Which is wrong. Inefficiency and corruption caused the financial collapse of the communist economic system decades before they invaded afghanistan. The same thing happened in each republic, one by one...

They were bankrupt a long time before they invaded afghanistan.

But that wasnt my point.
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USSR wasn't communist ever since Stalin.
 
Gquebed

Gquebed

Well-Known Member
Fogdog said:
USSR wasn't communist ever since Stalin.
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Oh. Really?
I understand what you mean to say. That Stalin polluted the ideal Marxist Ideal. And what followed had nothing to do with communism. I would agree...fully.

But... that is not how the vast majority of people on the planet understand it. Otherwise the US would not be haters of communism/socialism... and many others.

So i spoke in vernacular....
 
Fogdog

Fogdog

Well-Known Member
Gquebed said:
Oh. Really?
I understand what you mean to say. That Stalin polluted the ideal Marxist Ideal. And what followed had nothing to do with communism. I would agree...fully.

But... that is not how the vast majority of people on the planet understand it. Otherwise the US would not be haters of communism/socialism... and many others.

So i spoke in vernacular....
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True that most in the US don't understand even the difference between Sweden and communism, much less what Stalin created.

The Ukraine famine put an end to any idea that workers controlled production. Communism died there or maybe before that. What USSR became was a totalitarian dictatorship. Not even a polluted ideal of Marxism.

We can point to when totalitarian rule broke down or when totalitarian rule of the USSR oligarchy/committee ended. But then again, maybe just paused? Would you say that Putin is the current manifestation of totalitarian rule in Russia today?
 
Fogdog

Fogdog

Well-Known Member
Gquebed said:
It is believed that Communism crashed and burned economically in the late 80s, after their debacle in afghanistan, but really... that is merely when people found out that Communism had collapsed. In fact, the Soviet Union was broke a couple decades before.

Same thing with capitalism. Everbody thinks 2008 is when capitalsim caved in on itself, but in fact it failed a couple decades before.

2008 was just an after death convulsion. There may be a couple more yet before rigor mortis sets in on capitalism. But make no mistake... it is dead and has been for a while.
Click to expand...
Now then about that capitalism stuff. True capitalism as envisioned by Smith never existed either. It's always been a tool used by the wealthy to justify their excessive wealth. What is called capitalism is a means of continuing the status quo for wealthy clans after monarchy and the system of rule through birthright broke down.

Wealthy clans continue to be in power and only gained ground after 2008.
 
Gquebed

Gquebed

Well-Known Member
Fogdog said:
We can point to when totalitarian rule broke down or when totalitarian rule of the USSR oligarchy/committee ended. But then again, maybe just paused? Would you say that Putin is the current manifestation of totalitarian rule in Russia today?
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In a word, yes.

In a few more words i would say that Putin is a manifestation of the Russian soul, character and psyche.

To understand that... the Russian character must be understood. I cant explain that in just a few words. What i can say is that the Russian people like their leaders to be strong, macho...etc. Their psyche doesnt fit with an American style democracy. They "elected" a leader that is more tsar like, which fits their phsyche...
 
Fogdog

Fogdog

Well-Known Member
SneekyNinja said:
It's cyclical, genius.

Predicting another crash is like predicting itll be morning after the night.

Wake up for a piss and this is the sort of drivel I get to read...no wonder I don't visit daily anymore.
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I get the same feeling about the repetition of fake drivel by people like tty. No matter how many times they get smacked about by facts or their ideas skewered and laughed at, every day at RIU is like groundhog day.
 
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Gquebed

Gquebed

Well-Known Member
Fogdog said:
Now then about that capitalism stuff. True capitalism as envisioned by Smith never existed either. It's always been a tool used by the wealthy to justify their excessive wealth. What is called capitalism is a means of continuing the status quo for wealthy clans after monarchy and the system of rule through birthright broke down.

Wealthy clans continue to be in power and only gained ground after 2008.
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That may be true at the very top. But... it is dependant on how you define capitalism.

Those families may be the elite of the "haves" and they may have a certain amount of global control. But i cant agree that such eliminates the conditions that define capitalism as most know it.
 
ttystikk

ttystikk

Well-Known Member
Gquebed said:
It is believed that Communism crashed and burned economically in the late 80s, after their debacle in afghanistan, but really... that is merely when people found out that Communism had collapsed. In fact, the Soviet Union was broke a couple decades before.

Same thing with capitalism. Everbody thinks 2008 is when capitalsim caved in on itself, but in fact it failed a couple decades before.

2008 was just an after death convulsion. There may be a couple more yet before rigor mortis sets in on capitalism. But make no mistake... it is dead and has been for a while.
Click to expand...
So I guess we're just the bacteria in the gut of the cadaver, awaiting our inevitable end?
 
Gquebed

Gquebed

Well-Known Member
ttystikk said:
So I guess we're just the bacteria in the gut of the cadaver, awaiting our inevitable end?
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Hahahahah....
Something like that.
Maybe some of us are lucky enough to be near enough to the asshole to be squirted out on the final breath... to being life anew ...somehow? Lol
 
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