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  • mrpopcorna mrpopcorna Aug 13, 2009 10:37 AM Flag

    here's an idea .. raise interest rates 10 times in a row

    and see what happens.

    does the economy come to a screeching halt??

    what genius would do something that stupid?

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Paul Volker. And he was subsequently praised and given credit for saving the dollar. The dickheads running the show today are intent on crushing the dollar into worthlessness and they'll succeed. Are you stupid enough to think that ZIRP works? ARE YOU? Look at Japan you dumbfuk...Is that what you want? Decades of misery? OR do we accept the fact that we have WAY too much debt already and get the liquidation process started so that we have a chance of a future. You see dummy, not until ALL of the bad debt is liquidated can a capitalist economy begin to repair itself. SO to answer your stupid question ANYONE WHO KNOWS ANYTHING ABOUT ECONOMICS WOULD RAISE RATES DRAMATICALLY NOW TO START THE LIQUIDATION NO MATTER HOW PAINFUL SINCE THE LONGER WE WAIT THE MORE PAINFUL IT WILL BE. Go take an economics class and learn Austrian theory as it always has and always will trump Keynesianism.

      • 1 Reply to beardisaster
      • The Austrian School's praxeological method is very interesting. Theorists of the school insist its use must be "value free". This means the theory can tell you what will happen as a result of an action but not tell you what to do.

        This makes it illogical to conclude that interest rates should be raised today using Austrian economics. Let me explain why...(as Keynes did). Assume you are right and deferring pain now will increase it in the future....defer it long enough and I will be dead...so will you. I do not want to raise interest rates if this will permit me to defer the pain until after my death.

        But my real concern with Austrian theory is the implied assumption that money is real, knowledge has no cost, and both parties know whether a contract will be honored.
        Regards,
        Ken

 
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