Curt Doolittle

Category: Economics, Finance, and Political Economy

  • (See. I TOLD you that if I started talking about currencies and interest I would

    (See. I TOLD you that if I started talking about currencies and interest I would lose the month of July…. sigh.)

    Anyway. I have spent a long time studying disinformation caused by fiat money, common shares, debt instruments, temporal universal redistribution as a replacement for intertemporal kinship redistribution through saving and lending.

    So instead of trying to work with (a) what you understand, (b) what you think is useful, and (c) what you think is ‘good’, why don’t we follow Testimonialism and as this question:

    “What is RECIPROCAL(Moral), what is CALCULABLE (auditable), and what is TRUE(not false)?”

    ok.

    Consumer credit capacity is calculable by actuarial tables. Most consumer debt failure is due to intentional hazard creation by credit issuers.

    I want to stop this. I know what happens to the ordinary people under this bullshit of offering credit and terms to people who can’t control it, then subjecting them to penalty and overcharge fees, and sending them to credit agencies. And I’ve spent too much time with the canadian and british and german models as well.

    Americans are preyed upon, and most will live in old age poverty. And this going to end. Not through some fucking redistribution scheme (new welfare) but through forced saving (singaporean model), elimination of consumer interest on consumption, ending entrapment and punishment contracts (using the european model) – particularly cable and cell phones, restoration of intergenerational support, elimination of fees, consolidation of regulations, and direct distribution of liquidity to consumers.

    In other words, no more hazard creation then punishment fees. I am tired of watching ordinary people be the victims of a system that works continually to enslave them and to reduce them to poverty in their old age, destroy their families, destroy their communities, and commit genocide against them.

    For those that have asked, it is always possible to add a redistribution to your retirement account or to spend it, or to add it to your savings/retirement account and invest other money.

    If you want to make investments, borrow from bank. If you want to consume, that is just a matter of borrowing aginst future taxes and income to consume now, and drive the engine of the economy, and pay later.

    What will people REALLY DO? They will live at the limit of their borrowing capacity just as they do now, and liquidity redistributions in times of correction and shock will be used to pay down their debt – completely out of their hands. Which they will then maximize again.

    That I know of, only a few of us recommended paying down mortgages to correct 2008/9. What would have been the consequences of paying down consumer (mortgage) debt from the treasury rather than flooding the economy with $X Trillion dollars? What would have happened to the world economy? To jobs, to home prices?

    fuk.

    Source date (UTC): 2017-07-06 15:29:00 UTC

  • by Taimur Akbar Interest is used for economic calculation in commercial loans in

    by Taimur Akbar

    Interest is used for economic calculation in commercial loans in that that money is going towards expanding the productive capacity of the market, and it is a matter of reciprocity for the borrowers in commercial loans to give “dividends” to the lenders in the form of interest, as well as to signal to the market the profitability and risk inherent in said investments, allowing for credit to shift the interest rates towards equilibrium in calculation of risk/reward, leading to sustainable credit markets and production lines.

    Then, with consumer loans, all that is happening is that the family wants to use their future income to make purchases now, and it is a matter of consumption vs a matter of investment, so the financial sector engages in a conflation between constructive and consumptive lending, when consumption and investment should not be treated the same as they serve different functions. The treatment of consumption and investment as one then allows predation if one accepts the act of extension of a loan as the key ingredient rather than the purpose of the loan.

    So one should regard the purpose of the end funds rather than the extension of the funds as the operation.

    Source date (UTC): 2017-07-06 14:51:00 UTC

  • SERIOUS QUESTION: ADVERTISING If all advertising disappeared from the “interrupt

    SERIOUS QUESTION: ADVERTISING

    If all advertising disappeared from the “interruption” commons, including the postal service, vehicles, billboards, television, radio, youtube, email and facebook, and all you had was yellow pages, google (seek-advertising), store signage, in-store advertising. What would change? How would you change? How would business and industry change? How would entertainment change? How would marketing and advertising change? How would society change?

    Source date (UTC): 2017-07-06 11:46:00 UTC

  • 3) The challenge for liberty is scale since production multiplicative competitiv

    3) The challenge for liberty is scale since production multiplicative competitive commons is the penultimate competitive advantage.

    Source date (UTC): 2017-07-06 10:08:47 UTC

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  • “Who wants to pay taxes for retired city workers when they don’t provide any ser

    —“Who wants to pay taxes for retired city workers when they don’t provide any services?”—

    This is the universal problem of temporal redistribution (socialism) vs intertemporal redistribution (saving and borrowing).

    Source date (UTC): 2017-07-06 07:29:00 UTC

  • Definancialization will largely destroy the bad behavior of urban areas

    Definancialization will largely destroy the bad behavior of urban areas.

    Source date (UTC): 2017-07-06 06:29:00 UTC

  • “Von Mises explained why economics is not explainable by math. Values are ordina

    —“Von Mises explained why economics is not explainable by math. Values are ordinal and not cardinal.”—

    Well, values arent’ even ordinal (as he and Rothbard demonstrate in their of repeated error of reducing choice to price), but values are triangulated among many sets of ordinal preferences. Which is pretty much the lesson of estimation over the past twenty years.

    Or better stated, positional names (numbers) can only represent constant relations. Whereas ordinal position can explain relative position (lists). Whereas triangulated names (graphs), represent current relations.

    This is one of the principle errors in mises’ work. (among many). Just as Mises applies the monopoly of price (commodity trades) to values, Rothbard applies the monopoly of price to ethics. Both of these are simply reductio versions of preserving separatism and avoiding the cost of paying for the institution that makes prices, trade, and ethics possible.

    Our brains sum many possible relative relations in many possible dimensions.

    The problem is that the process is not open to introspection. We have to deflate each dimension to understand our own judgements.

    Source date (UTC): 2017-07-05 12:03:00 UTC

  • THE INSTITUTIONAL PROBLEM OF THE MONEY SUPPLY the problem of monetary supply is

    THE INSTITUTIONAL PROBLEM OF THE MONEY SUPPLY

    the problem of monetary supply is created by (a) a single currency for all purposes, and (b) distribution through the financial system rather than consumers.

    Rather than targeting, I use changes in capital (capital-in-total) and sector-interest-rates. (My suspicion is that all we are doing today is spending down capital and calling it efficiency.)

    For example, we can regulate home loan interest separately from regulating car loan interest. We could supply money for purposes instead of regulating interest. This is the amazing property of digital money substitutes.

    Source date (UTC): 2017-07-04 08:29:00 UTC

  • INTERTEMPORAL DIVISION OF ABILITY AND BIAS (NOT LABOR) We should try to kill off

    INTERTEMPORAL DIVISION OF ABILITY AND BIAS (NOT LABOR)

    We should try to kill off the term ‘division of labor’. Principally because it implies the labor theory of value and relative equality of individuals in laboring.

    The problem is, labor – meaning transformation of physical state – is of little value (and we are of little difference to one another), where as the organizing people into networks of production, distribution, trade, using incentives, where those incentives require the application of credit, money, and reward, is extremely difficult – and we differ in our ability to form networks of trust to do that, dramatically.

    So I use the series: the intertemporal division of perception, ability, bias, cognition, knowledge, labor, negotiation, and advocacy. Which is quite wordy. But the short version might be reducible to “the intertemporal division of bias and ability”.

    This is one of those memory devices that might take me six months or six hours. I have no idea.

    But the intertemporal division of ability and bias, draws our attention to our marginal differences, where the division of labor draws attention to our marginal indifferences.

    Source date (UTC): 2017-07-03 10:12:00 UTC

  • “If consumers are supplied funds directly from the treasury, and their loans are

    —“If consumers are supplied funds directly from the treasury, and their loans are subsidized by the state, how does this not lead to rampant over consumption by high time preference and inflation? With the inflation being essentially a tax on savers, what is supplied to the savers in return?”—John Zebley

    People borrow money now. They pay principal and interest now. If they paid only principal, directly to the treasury, what is different other than the deprivation of the market of rents on loans from the treasury? In other words, where would the inflation come from? Where is the increase in money supply going to come from? The question is, what happens to all those who currently invest in consumer loans and now have to find alternative sources of investment that are less predictable?

    Now you might say that the total money supply for consumption would increase by the amount of the interest that is currently paid, but one can take the smart way out and simply shorten the payment period, or one can take the chaotic way out and let prices adjust given the short term windfall that such policy would create.

    Source date (UTC): 2017-07-02 12:36:00 UTC