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Viewing profile - Bronk

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Bronk
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Joined: Mon Apr 07, 2008 5:45 am
Last visited: Wed Feb 25, 2009 1:00 pm
Total posts: 178
[0.20% of all posts / 0.06 posts per day]
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Most active forum: General Discussion
[ 97 Posts / 54.49% of user’s posts ]
Most active topic: A National Healthcare Program Would Cripple The Economy
[ 15 Posts / 8.43% of user’s posts ]

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Bronk Posts

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 Forum: General Discussion   Topic: Money is Debt

Posted: Wed Feb 25, 2009 1:00 pm 

Replies: 45
Views: 14089


The invention of a fiat currency that allows the money supply to grow did not cause this economic growth. The currency just facilitated this growth (as a good currency is supposed to do) by making everyone much more likely to trade (which begets specialization, which begets innovation, which begets...

 Forum: General Discussion   Topic: Money is Debt

Posted: Wed Feb 25, 2009 10:52 am 

Replies: 45
Views: 14089


Yes, our economy has expanded rapidly. That's what a relatively free market and increasing population will do for you, regardless of your currency's backing. Yes it does matter. As I've repeated many times, a fixed currency is useless in that environment (where production of real wealth is increasi...

 Forum: General Discussion   Topic: Money is Debt

Posted: Wed Feb 25, 2009 10:14 am 

Replies: 45
Views: 14089


It's more valuable because there is less land per person, and everyone needs some to live on. Land is finite we can't make more of it, but the population of the earth continues to grow so over the long term we should expect land prices to rise. It's still possible to overpay or underpay in the shor...

 Forum: General Discussion   Topic: Money is Debt

Posted: Wed Feb 25, 2009 10:04 am 

Replies: 45
Views: 14089


These are things that make our lives better in some way or another and can be traded for items of similar value. Since the middle of the last century, construction and industrial production really has increased exponentially. This is why our fiat (credit-backed) representation of it has grown expon...

 Forum: General Discussion   Topic: Money is Debt

Posted: Wed Feb 25, 2009 8:51 am 

Replies: 45
Views: 14089


There is nothing mistaken about it. As I said, no matter what form your "money" is in (whether it is asset-backed or fiat and backed by "credit") it is just a virtual representation of real wealth. As long as the amount of real wealth in the world grows, your monetary representa...

 Forum: General Discussion   Topic: Money is Debt

Posted: Wed Feb 25, 2009 8:30 am 

Replies: 45
Views: 14089


Your method of lubricating the economy was the preferred method until about halfway through the last century. But it is since then, since the vast majority of the world switched to fiat currency, that most of the world's real economic growth (production of real goods and services - i.e. wealth) has...

 Forum: General Discussion   Topic: Money is Debt

Posted: Wed Feb 25, 2009 8:24 am 

Replies: 45
Views: 14089


Do you want maximum economic growth or not? This whole argument is about what kind of currency best supports maximum real economic growth. There is no such thing as too much REAL economic growth. The more real goods and services produced the better our standard of living becomes. Period. Under your...

 Forum: General Discussion   Topic: Money is Debt

Posted: Wed Feb 25, 2009 7:11 am 

Replies: 45
Views: 14089


You’re doing it again, Tim. You’re applying the worst case theoretical possibility to the side with which you disagree and applying a pragmatic view to your side. You can’t do that and expect me to miss it. The runaway deflation you fear is the direct result of the faux value that inflation has give...

 Forum: General Discussion   Topic: Money is Debt

Posted: Tue Feb 24, 2009 11:55 am 

Replies: 45
Views: 14089


But that has nothing to do with whether we are using a fixed amount of asset-backed reserves or an infinite amount of fiat reserves... fiat reserves being critical for supporting a long term upward trend in the growth of population and volume of economic activity. You have yet to demonstrate how fi...

 Forum: General Discussion   Topic: Money is Debt

Posted: Tue Feb 24, 2009 9:29 am 

Replies: 45
Views: 14089


Bronk, We are having essentially the same discussion over several different threads, so from this point forward I suggest that we consolidate it here... Now, I think you are being distracted by the wrong goal. Your concern is the value of the dollar. But that is not what improves our standard of li...

 Forum: Personal Finance   Topic: Can I buy 8 houses with $250,000 ??

Posted: Tue Feb 24, 2009 6:29 am 

Replies: 13
Views: 3825


What? You only want to buy 8 HUD homes in sketchy neighborhoods to begin your slum..landlording career. Why start off so small, i would shoot for no less than 15 rental properties. Seriously though this is a disaster in the making, go take a cold shower and come up with another money making scheme....

 Forum: General Discussion   Topic: The ironic relationship between politics and economics

Posted: Tue Feb 24, 2009 4:19 am 

Replies: 34
Views: 8485


My argument about pragmatics is based on costs. As I said, it costs something to buy stuff and drive prices higher. At some point nobody in the world has enough money to make the next high bid. It doesn't cost anything to sit on the sidelines and buy nothing, just allowing prices to continue to fal...

 Forum: General Discussion   Topic: Money is Debt

Posted: Tue Feb 24, 2009 4:15 am 

Replies: 45
Views: 14089


You are falling into a trap of thinking that everyone would understand that their money is growing in value even as their paycheck keeps getting smaller every time the economy grows. Read this thread as an example of people's ignorance... http://getrichslowly.org/forums/viewtopic.php?t=3479 I tried...

 Forum: General Discussion   Topic: Money is Debt

Posted: Mon Feb 23, 2009 10:13 pm 

Replies: 45
Views: 14089


You need to think very carefully about the consequences of having a finite amount of money in the world... If you produce a certain number of tomatoes, those tomatoes will command a certain price. But the amount of real goods and services in the world is NOT finite. What if you double the amount of...
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