Max Keiser & Sandeep Jaitly Discuss Austrian School of Economics

[TWSceptic]

Left guy looks like a zombie

[docatomics]

...that is stacy cooky talk maximum

~this time sensitive notification of new upload was only 23 days late,

=not bad from what is expected of our non contractual performing partner FuckYouTube !

[WarzSchoolchild]

Carl Menger, founder of the Austrian School, was Private Tutor to Rudolf Crown Prince of Austria, and was a huge influence on him. It is highly probable that Prince Rudolf was assassinated! the Mayerling' arranged' suicide. Austrian Economics was far too sensible for Banksters! Empress Zita, (1892–1989), widow of the last Emperor, Karl (r: 1916-1918) and last surviving Crowned head from The Great War, claimed that the Crown Prince was murdered, and the crime was disguised as a double suicide!!

[WarzSchoolchild]

Wikipedia:- "...Marxist Frankfurters show that while markets offer the promise of a richly developed, creative individuality, in reality this development is severely stunted, to the point where people hardly have "time for themselves" anymore, because they are constantly acting out or caught within roles which they have little control over. They become passive consumers rather than active creators of their lives, and any creativity which is incompatible with bourgeois norms is beaten down..."

[weejockpoopongmcplop]

I never realized economists were so retarded that there is a special name for such a ridiculously obvious concept.

[Iseeyoursoul]

Austrian Economics restores sanity and common sense to the realm of economics.

Keynesians think money can be printed from thin air, literally creating value from running a state printing press... called "quantitative easing" aka counterfeiting, and Keynesians think this practice will save their dying fiat economies.

Like a half witted suicidal cutter, they believe that slicing themselves will somehow lead to excellent health.

[cekf8]

@Iseeyoursoul it's my understanding Keynes advocated government stimulation of "aggregate demand" (AD) using fiscal (taxation) and monetary (government borrowing) tools. Government collects money being earned and saved and uses these funds to build roads, for example. Jobs are created directly and indirectly, within the private sector, as result. More people working, more 'spare' cash, more spending, more jobs and so on. An avalanche effect.

[cekf8]

I'm not sure I understand, "quantitative easing" (QE), it's more akin to moneterism: changing the money supply to stimulate demand. However, I'm not sure it's being used thus, the money would have to reach the job creators, industry and small business.

I don't believe it is. It seems to get stuck at the banks and in the financial markets.

[cekf8]

@Iseeyoursoul Government has to fund a budget, it does this with taxation and borrowing:

G(s,i) - G(t) - G(b) = 0

[G(s,i) = govt spending incl borrowing interest, G(t)= govt income (taxes), G(b) - govt borrowing].

From this, simplistic formula, we can see a government with a huge deficit either has to reduce G(s,i); or increase G(t); and/or G(b). I believe application of the the first two in unison are known as austerity measures.

[cekf8]

@Iseeyoursoul Finally, and I hear you weeping with relief. [:)]

There is total government borrowing; i.e. the sum of G(b) over the years.

I think we can see a collapse point: when so much has been borrowed that only the interest can be paid.

It is at this stage or close to it that investors withdraw, look at China et al; credit reference agencies start to 'yelp' about upgrading the risk; and the central bank starts buying the government debt, by printing money.

[anonwoohoo]

"Value does not exist outside of mankind's consciousness." How true!

[cekf8]

@anonwoohoo @anonwoohoo I like the sentiment, but I can't agreee completely. Animals 'value' their food, hunted or gathered. Watch the lion defend its kill or the squirrel bury its nuts. I'm more inclined to believe greed is a human only attribute, but the squirrel buries more nuts than it needs, forgetting the location of many, so I understand. Possibly, greed has a purpose.

Perhaps, we should look to how and what we value; I suggest starting with money.

[anvilofcrom]

Russia Today do an amazing job. When was the last time you saw an indepth discussion about Austrian School economics on the BBC or CBS?

[quelorepario]

@DaviidHiIl Neoclassical economics is just a bunch of delusional geeks.

[PositiveMoneyUK]

A biggest public campaign has started to abolish fractional reserve system. Visit POSITIVE MONEY website and support the campaign.

[ostralopithicus]

There is a lot that can be estimated if certain behaviors are observed. But claiming to understand what behaviors are going to manifest and what new ideas will spill out of the human consciousness that may completely disrupt if not annihilate existing markets is utter hubris - and this is precisely the philosophical default of Keynesian economists, who see all of humanity as nothing more than cogs in a great machine.

[Distortion0]

This video is untrue. Alfred Marshal used marginal utility in his book, upon which all English Economics are based to this day. His book made a large amount of other innovations to the field where Menger's book was nothing more than page by page the Wealth of Nations sanitized of all it's original political content.

[IronicallyVague]

Nothing more adorable then a herd of Egotisticals running about trying to find a new way out of the pen instead of remembering to turn around and see the open gate and how their greed led them their in the first place...

[ostralopithicus]

@IronicallyVague It's vaguely ironic that you're being hypocritical with regards to calling them egotists. Your use of the term greed implies that such is a bad thing, yet you have not made the case for such and are assuming that everyone sees the world the same as you do - a typically egocentric viewpoint.

[IronicallyVague]

@ostralopithicus True I'm Egocentric to a point

A good example is how I've never had a credit card or a loan from a bank for any home or car I've ever bought because my egocentric views clash with the idea of paying for their interest or that Gold is the only real money.

But It's not that I'm incapable of perceiving what others think and feel, it comes from my own personal morals and ideals to try and do the right thing instead of just following the herd.

[IronicallyVague]

@IronicallyVague * That plus I'm legally bat shit crazy :)

[whatupwiththatdog]

Rise up people. Good job to front liners like Keiser that takes it on the road like his coverage from Greece

[demonweasel]

@hodoprime

Actually, there exists a formula that can predict an individual human's actions (it must also take into account the changing state of his environment). The problem is that there's no scientific way to determine what that formula is. Nor is there a way to prove that a given formula is *that* formula. There's an infinite number of ways your guess can be wrong. It can take 2 seconds to be proven wrong, or 100 years. Plus, the formula differs for every individual and every circumstance.

[zxcv73]

@demonweasel Oh yeas, and I'm sure there exists a white pony with a horn growing out of its head, but we just haven't found it yet.

[ytgv3fc7]

@demonweasel actually there is a scientific way: genetic program simulation. It merely needs to build a cellular automaton & keep revising rules until the actions in the simulator match the actions outside the simulator. It doesn't take much because most invalid actions lead to certain doom & stops an agent/person. The only uncertainty is the desire to be lied to which itself becomes reliable: people don't switch from one group to the other. We can then measure how many are self-frauds.

[Rumplefrumple]

it troubles me that the political figures i have been following for the past few years have begun to refer to each other in order to support their statements... am i being profiled and as a result being pandered to? or is it just that the pundits and politicians i have been listening to have been genuine and are on the ball?

[whitechocolatespace]

The main problem with non-Austrian economists is the confusion between deterministic systems with empiricism. Max sort of confuses it by contrasting the Austrian view as 'irrational' instead of calling it 'unpredictability.' Simple analogy: Weather systems are completely deterministic systems: Charged ions, atmospheric pressure with sophisticated modeling and yet no one can predict when lightning will strike. Most economists do not understand chaos and spontaneous order.

[hodoprime]

No mathmatical formula can predict an individual human action.

[ymkamara420]

@hodoprime what are u serious? that is bullshit. we statistical information to predict human behavior all the time. u were kidding right?

[hodoprime]

@ymkamara420 From a collective sense, you might be able to gather a trend. From an individual sense, you can't break it down into numbers. The point is that centralized planning mostly fails in effectively allocating resources to take care of the needs of the individual and thus fails at their collective goals.

[blue46gt]

The Austrian School predicted the crash.

[dantean]

@blue46gt Yeah, only Austrians get called "chicken littles" for predicting crashes of one kind or another roughly every ten minutes (see Peter Schiff, for example), making it not as impressive a feat as it would appear at first blush.

[westwaytv]

Hey Max it's about time you had Sandeep back on the show!

[freddietz96]

Even states want their money to “work for them”, rather than sitting idle until it’s spent, and I’m not against that. But we have profound problems w/ selfishness in America. Basic sharing of stuff—the thing we teach our 3 year old kids to do in order not to kill each other over playground toys—we have grave difficulty doing as adults. That’s the fundamental “motive problem”, the thing that’s going to get us mass anarchy. My 2 cents.

[popothebright]

Max says "Menga". LOL. What a twat. I appreciate what Max does, but I wish he was educated.

[KingLeon1daz]

@popothebright uhh... In German, -er is usually pronounced similar to "ah" or "eh." The more you know

[uturniaphobic]

Laissez-"un"-Faire

[sopark434]

this is an old vid.

[LazarusCato]

For Austrian economics or laissez faire capitalism to work effectively it requires every1 to be educated 2 a high degree so as to be ethical consumers etc - but the only way that wud happen is with a very good public edu system, bcoz if it were all left to pvt. schools, it wud b counter-productive 4 them not 2 churn out more mindless consumers. The whole thing is academic wankery. Keynesian econ isn't much better mind u. Just leads 2 corporatism, just as Austrian economics wud lead to Mad Max.

[4thstuning]

There is some useful math for economics - addition and subtraction. If we spend more than we take in this math predicts with 100% certainty a lot of political BS.

[Zaphodox]

@4thstuning Wonderful! I hope you don't mind but that is heading for a forum signature for sure ;)

[tekmnd]

Those keynesian models are tighty and neat, but that top down approach is the Fatal Conceit.

[TheShockmister]

The TOP DOWN v's the BOTTOM UP, The FEW V's the MANY, Time for the head of the snake to be cut!.

[chotaboy66]

@TheShockmister The head is banks period ,WE DON'T NEED THEM .Why? Because they provide no service what so ever rather they ALL launder any nations wealth by fraud & deception & the 2nd grade math proves it all begins on the ground level via the obfuscation of our promissory obligations before the fraudulent exchange , before issuance even before fictional expansion that of course people will see if they have basic logic that is if banks didn't screw us first there would be no national debt..

[chotaboy66]

@Pina206

chotaboy66 is from the government trying to blind the sheeples. it dont work here mate. sorry

-

I'm sorry to see your blind ignorance of reality.I guess you like max is a part of the problem by avoiding the MPE solution that no one has disproved in over 40 years. I have already provided the formula & information proving max, Jaitly, yourself & others here incorrect regarding Math formulas predicting economic failure.

Ignore the proof of solution at your own demise.

Good day sir.

[enginekid88]

an economic textbook is basically a cookbook of crime. that's all it's ever used for in the end. the little naive students have no clue about the endgame of the elite.

[peaceinliberty]

Bravo to Max for bringing light to the Austrian school of economics! They had it right the whole time. Searching Mises.org archives you will see what I mean...

[KimInLosAngeles]

This gentleman, Sandeep Jaitly, can go to a costume or Holloween party (without any make-up) as a zombie in early stage of zombification.

I'm joking! : )

[orangedac]

@KimInLosAngeles LOL

[horseloin]

If you're going to conflate "Austrian" with general libertarian anarcho-capitalism, please see Steven Horwitz's blog post at Coordination Problem titled "What Austrian Economics IS and What Austrian Economics Is NOT".

I quote: "it is an approach to the study of human action and the social world, not a set of policy conclusions."

This misunderstanding seems to afflict both the followers and opponents of said school.

[StyngRay1]

Well it was the banking class and corporate america who demanded for bailouts or they would crash the world economy! So talk Austrian economics to them! Hmmm wait, dont you have to take economics to be a banker or a ceo? :) For the Nth time, the party at fault is CORPORATE AMERICA AND THE BANKING CLASS! S

[NicosMind]

@StyngRay1 But thats where Austrian economics comes into play. They dont say "your mathematical models were wrong". They say "you lent money to people that couldnt afford it", "Fannie and Freddie insured mortgages meaning it was a win win for the mortgage broker. He didnt have to worry about the mortgage defaulting cause the government had its back. He wanted that transaction fee" And more stuff like that.

Its a soft science like psychology. Maths is secondary

[StyngRay1]

@NicosMind Your knowledge of the etiology of this depression is minimally incomplete and at worst wrong. Austrian Economics is just another model system each of which is by itself incomplete in explaining the dynamics of the economy. At the least you must read the book by Michael Lewis that addresses the reasons for this depression at the lay level and traces it back to the 80s. S

[StyngRay1]

@NicosMind Peter Schiff is good but his antigovt vitriol emanates from his father in the bighouse for tax evasion. F&F were very late players to the game and didn’t “insure” mortgages. Others primarily did that. The banking class fed the govt with plants in case they needed bailing out esp GS. The fault lies at the doorstep of the banking class and more generally corporate America. They held up the govt for ransom, nothing more, nothing less. S

[NicosMind]

@StyngRay1 Austrians Eco isnt about models but human behaviour and tracing consiquences in all directions.

To my understanding at the time of the subprime cisis F&F were insuring between 40-50% of the mortgage market and even insuring houses in the UK. Now theyre insuring something like 80% plus. Things like the COmmunity Reinivestment Act, Dept of Housing & Urb Develop, Equal Credit Oppurtunity Act, Pro Ownership Tax code, The Feds interest rates, Greenspan Put etc all contributed (continue)

[NicosMind]

(cont), and yes the banking sector holding the government to randsom. You have to look at the housing boom and how big it got to others. US had a 200% rise this time when the last 2 were only 20%. It took a lot of governmnet interference to make a malajustment that big.

The banks holding the government to randsom only happened after the boom and not before it.

And on Peter Schiffs dad. Why dont you watch Aaron Russo's movie called America Freedom to Fascism to see why hes is in jail lUpZhhbKUBo

[StyngRay1]

@NicosMind Unless you are omniscient (ie GOD), everything is a model! Yes AT THE TIME (end stage) (not insurance but buying the paper) but this was happening 15 yrs before when the quants ran out of A credit homeowners by the late 80s and started to tap the subprime equity. AFTER the event GOVT decided the best way to BAIL OUT the PRIVATE CORPORATIONS, BANKERS, BROKERAGE HOUSES, etc was to let F&F buy ALL the bad ones and nationalize it fully, so the debt belongs to the govt/taxpayers! S

[StyngRay1]

@NicosMind None of the programs you mention even contributed to this mortgage-induced depression as this occurred irrespective of their existence either before or after the genesis of this mess which took about 15 yrs to manifest. Similar progs were existing since the New Deal and we did not see mortgage crises. S

[StyngRay1]

@NicosMind Did the govt tell them to do no-doc loans? Furthermore, even more portent govt progs exist in Canada, UK, Southeast Asia, but we did not see this issue with those cultures. The only thing that was responsible was the greed of the bankers in securitizing subprime debt and finding willing buyers (suckers) here and overseas. S

[ytgv3fc7]

@StyngRay1 yes the government did tell them to do no-doc loans. The evidence has been uncovered & more is coming. Later the courts tried to enforce no-doc foreclosures too until it hit the news & people threatened to do runs on the bank and refuse to pay all debt of every kind and even kidnap and kill bankers. Then they stopped.

[StyngRay1]

@NicosMind If a candy storeowner who has insurance, tells you to take all he has and pay for it later and then you can’t pay for it and the storeowner asks file an insurance claim, you can’t blame the insuring entity for being part of the problem. This is essentially what Schiff does in everything. The only person to blame is the business owner! S

[ytgv3fc7]

@StyngRay1 wrong. You can & should blame the insurer for not making the right deal in that such event. No one else is responsible for the insurer but its own mistaken non-research. With less/no insurance encouraging action by the store owner no such action will happen & that's a 100% fact impossible to deny under all reality conditions ever.

[StyngRay1]

@NicosMind On Schiff’s dad, I watched them all. I don’t like paying taxes, but we all have to if we want important things. For me that means, security, health, housing etc. otherwise there is no need or a country. Schiff is blaming the govt for everything. I only blame the govt for a nepotistic bureaucracy and inefficiencies in many areas and I blame the welfare capatalist for the rest. S

[NicosMind]

@StyngRay1 Seriously have you ever read an Austrian book? Tell me one model they use? I know LTCM used models and many schools of economic thought use models but theres ive never come across one in Austrian economics.

Brilliant analysis. One thing and one thing only caused the housing boom.

F&F wasnt after the event. Peter Schiff, Ron Paul etc was talking about it since at least 2001. In sept 01 the GSE F&F&G had 3.2 TRILLION ?v=48Gfzgxh3ZQ

And sure government programs designed (continue)

[NicosMind]

(cont) to channel money into the housing market had nothing to do with the bubble. Sure they probably lowered the prices of houses lol

Im not even mentioning all of the government created problems but one of the simplist economic rules is the more money you have chacing something the higher the price goes.

I see youre a subscriber of Sciff. Didnt you even watch his mortgage bankers speech? That was before the fact now wasnt it?

And ive a strong feeling you havent a clue about his dad cause --->

[NicosMind]

----> of something you havent mentioned. [Im assuming] Youve just heard that hes gone to jail for tax evasion and assume you know it all from there.

And the UK(the UKs has deflated a lot) Canada and Southeast Asia all have bad housing bubbles includint Australaisa with Australias & Chinas bubbles being something to really worry about... Though im guessing the Nat Disasters has already cleared them in a lot of Oz.

[ytgv3fc7]

@NicosMind outside of big cities like Edmonton, Vancouver and Toronto there is no housing bubble in Canada. Those 3 markets are not big enough to do damage to the economy from the bubbles.

[NicosMind]

@ytgv3fc7 Ah ok. I dont know the Canadian market so that was more of a guess :). However in the UK houses are still over priced dispite what some pundents might say. And Asia is definitely in the middle of a housing crisis...

But ill take what youve just told me and add it to my arsnal of knowledge :)

[ytgv3fc7]

@StyngRay1 "I don’t like paying taxes, but we all have to if we want important things."

Untrue. We can have roads & healthcare, police & fire dept. all by selling the equipment, the skills and voluntarily getting together to pay for it on equal value. Taxation removes voluntary action & allows money to be siphoned off for hidden purposes we later find out is corruption & war, bailouts for the richest banks & other nonsense.

[ytgv3fc7]

@StyngRay1 Austrian Economics to "them": yes, if we had no paper money they could not by any means crash the economy on demand so they could not demand bailouts.

[chotaboy66]

@ytgv3fc7 AGAIN Paper is not the root cause of failure,fiat money is only a symptom of the obfuscation of OUR promissory obligations to each other on the GROUND FLOOR,if local banks were not laundering circulation via our purported so called loans there would be no circulatory deflation which IS the cause of national debt. Commercial Banks launder circulation faster than any injection of national debt .The primary cause of most if not all price inflation is by charged interest that never created

[iansummerell]

Would I be wrong in think that if we use the Austrian School of Economics then Greece has NO DEPT?  Its all in the mind?

[justintempler]

@iansummerell The Austrian School does NOT believe in bailouts. If they are bad loans, you either renegotiate the loans or let them fail. You don't keep throwing good money after bad money.

[AssyrianRebel1]

@iansummerell Kind of, but if you consider the fact that the concept of "debt" is a construct of the human mind to begin with (giving x number of units of value (as determined by general human consensus) to a group with a monopoly on force within the geographical area (AKA "Government") commonly referred to as "Greece"), then you get an idea of how this is able to deconstruct what mises referred to as "human action"

The weight of meaning of economic activity is human determined, not "objective"

[orangedac]

@iansummerell

its spelt debt not dept.

greece's debt is indeed all in the mind.... of its creditors. they are not going to see a dime so their money is as real as a dream.

[wasy35]

Heavy!

[RandallSteen]

Thomas Kuhn would agree with this because he stated the only the pure sciences can observe a paradigm shift. The social sciences and arts are predicated upon the human condition and meaningless in absolute terms. "Man is the measure of all things. Plutarch"

[Judy101101]

wild wild wild concept but I'd love someone prove wrong. if U pump into consciousness a belief 2 live by U can base your economy on that belief. IF ALL THINGS DIE - U profit from all things dying - U can predict, U can get everyone 2 help kill themselves because ALL THINGS MUST DIE so U will never face what's killing you but it's like your cutting into your own brain and frying it up for dinner - all things must live - new concept - new mind set - new successful economy DESIGNED TO WIN NOT DIE

[meadowsirl]

Austrian School of Economics is more monetary garbage entirely disconnected from human needs.

[pretorious700]

@meadowsirl Austrian Economics is actually the only theory that includes human interraction in basics, so you are about as wrong as wrong gets.

[justintempler]

@pretorious700 meadowsirl is one of those Zeitgeist idiots that thinks we should do away with money altogether.

[ytgv3fc7]

@meadowsirl no the Austrian school is the only one even beginning to address human needs. You see it nowhere else - not in communism, not in venus project, not in paper money systems.

[meadowsirl]

@ytgv3fc7 Austrian school is unable to address human needs as it is entirely unguided, the only motivation is the profit motive. You can go on and on about your wishes for an Austrian school system with such words as "virtue" and "honour", "respect", "non aggression" they all are crushed by the central tenant, aka profit motive. Business will be either indifferent, good or evil depending on what gets the most profit on a particular day.

[ostralopithicus]

@meadowsirl "unable to address human needs as it is entirely unguided" --- and who is the grand guide who will show us the way? who is the master who knows all and sees all of the future of humanity, who will be our saviour? You? the bernanke? Go ahead join another cult of personality if you like, but don't use the gun to try and get others to join. I've had enough of this hubris egocentric religious voodoo keynesian economic talk to last me a lifetime.

[ytgv3fc7]

@meadowsirl Being unguided IS how you address human needs. Being fully centrally controlled, guided, is how you stop all human needs from being met. Instead you meet the needs of just 1 controller and defy the needs of all humanity - what we have today.

The profit-motive is NOT the only motive. The LOSS motive is entirely different: avoid loss even without profit, just to survive

[Mopar21277]

Well said Sandeep, Economics is about the human being, not mathematics. Money is supposed to be a means of completing trade of goods and services of people.

The sacred "brilliant & free market" is b.s. The people are always being screwed by the bigs. Is "letting the market sort it out" allowing Goldman to speculate on & manipulate commodities, leading to genocide? The Austrian school was essentially how Andrew Mellon worked during the 20's; cut & gut, deflationary crash devastated millions.

[yutuboslaven]

Newbies like to endorse the Austrian School. People who like this school are very naive and stupid, furthermore they like and think inside the box.

Ron Paul and his fagot son Rand are the two Republican douche bags.

[ytgv3fc7]

@yutuboslaven the Austrian school is only for the most expert of economists. Newbies go to paper money and never understand what went wrong.

[yutuboslaven]

@ytgv3fc7 hahahahhaahah nice one

[WhackTheWax]

I think he's wrong, it is obvious to them and they planned it

[YouriCarma]

Interesting fellow ...

[IronicallyVague]

If value doesn't exist outside of mans consciousness then it seems logical we should base our new currency on breasts.

[smoke489]

@IronicallyVague Better ! Tits !

[IronicallyVague]

@smoke489 - I was just afraid to say it

[empressjulz]

@IronicallyVague i had such a crap week. this made me laugh my arse off. thank you.

[orangedac]

@IronicallyVague

we'd have to divide the world up into A cup, B cup, C cup... and the most extreme... D cup.

that might trigger a global war as men battle for dominance of their respective monteary systems.

[cheddyrod]

@IronicallyVague Lower your consciousness a little and you will be spot on. :P

[IronicallyVague]

@spyletu - Nothing very much retarded about having a sense of humor my friend, It's human nature and helps those among us who have to deal with troll like, narcissistic anal twits like you..

That and it gives good people a break from the economic collapse 

[ytgv3fc7]

this intepretation is nonsense. Tangible things have a physical use beyond any belief system. Experience & conditions may achieve greater efficiency but useless things remain useless & useful things remain useful. This is why empirical analysis is valuable. Humans outside of ecological systems rules - easily observed - have only one bizarre quality: the desire to be lied to. That single condition is what causes all the rest of the uncertainty in crap we see. The rest is empirical from nature

[TTT75145]

@IronicallyVague It's really hard to break breasts into smaller units for small purchases, though.

[ostralopithicus]

@TTT75145 how about a new version of bitcoin that is 'backed' by titty porn on the internet. Call it BREASTCOIN!

[Valamarth]

"Neither is praxeology based on behaviorist psychology. Infact, in so far as praxeology touches on psychology, its principlesare the reverse of those of behaviorism. (...) in praxeology we are not interested in the concrete contentof his value scales nor in his underlying personality. We areinterested in value scales as revealed through choice." ~ Murray N. Rothbard, "Man, Economy and State", Ch.4.9

[Paetaor]

After studying the Austrian school for a while it's not hard to see why they were able to predict the crash while most voodoo economists denied there could be a crash.

Math formulas can't predict economic futures.

[chotaboy66]

@Paetaor Math formulas can't predict economic futures

-

I'm sorry this is Simply untrue ,Mike Montagne a mathematician who predicted failure in 2010 decades prior.

Max refuses to interview or acknowledge the only mathematician that not only can prove failure thus also prove solution with 2nd grade math. What your all missing is" logic " unfortunately something in particular the school of Austrian economics fails at miserably .

watch?v=g1ZuOAl5qJs

[pirell]

@Paetaor you didnt need to go to an austrian school to be able to predict that when a country's private debt outweighs its gdp by far, and people who could barely afford basic needs where being given mortgages and credit thrown at them.and a whole host of other things that just make common sense.

[zxcv73]

@pirell You didn't need to but it sure as hell helped.

[ytgv3fc7]

@pirell involving GDP is meaningless - the equation for it is changed to suit the needs of fraudsters & the desire of some people to be lied to. So long as the number who are poor do not rise up and fight, many can exist in a system that does harm to them. Once they do rise up those who can defend will survive regardless, continuing their actions as before into the new economy. You won't see everyone going into debt all at once nor everyone believing they owe a debt without their consent

[ytgv3fc7]

@Paetaor math formulas can predict anything. You just need the data measured to put into it.

I've done it for quite some time. The voodoo economists can't even do math, they can only lie & only easy lies - to those people who want to be lied to. For everyone else there's mass murder paid for by the US Army, KGB/FSB and Saudi Arabia.

[Paetaor]

@ytgv3fc7 I guess I should have been more specific. They can't predict economic trends, models are great for predicting the fall out of something like bank failures based on a decline in house prices.

You can predict Y (bank failures) if people do X (walk away when underwater 10%) but it doesn't help predict X.

The talking heads were stating that a 1.25-2.00 GDP multiplier would result from the stimulus based on their idiology but I'd say it was way under 1.0.

[ytgv3fc7]

@Paetaor actually the models can predict what you said they can't, the problem that really happened is not model failure. It's fraud. There WAS NO MODEL declaring GDP multipliers, it was all a sham. Anyone asking too many questions is fired or jailed.

[TheJM1962]

Fiat Money is for morons!

[chotaboy66]

I really cant believe keiser is now misinforming you people with this video as if it disproves mathematically perfected economy. Good work max NOT.

watch?v=D-k82wl2Who

I guess Max's silence IS indeed evidence he is really a part of the problem we all face today in finding solution.

[orangedac]

@chotaboy66

mathematically perfected economy my arse.

there is no such thing and anyone claiming there is is selling snake oil theories.

[chotaboy66]

@orangedac

mathematically perfected economy my arse.

there is no such thing and anyone claiming there is is selling snake oil theories.

--

MPE is not for sale sir, it cost NOTHING "ITS A SOLUTION THATS FREE" Please prove where MPE is selling anything that cost you money ? you seem to be another one blindly asserting ignorance to the detrimental to all that are trying to assert comprehension of solution & proof of failure.

Maths never lies " IF " its applied logically .

[orangedac]

@chotaboy66

i checked out Mathematically Perfected Economy in some set of 5 videos of an interview with the inventor of it. I don't understant it. Something about adjusting the money supply to match the value of everything in existance to prevent all inflation. Exactly how do you measure the value of everything in existance at any given time ?

[mchlhunter9]

@orangedac. It seems that chotaboy66 is sitting on another planet with a calculator observing Earth - where he is indeed able to calculate the value of everything.

[chotaboy66]

The Austrian school dogma fails to teach 2nd grade math.

2:19 Your epic fail keiser & so is this dope Sandeep Jaitly.

The second grade formula no one has disproved in 40 years.

A 1.1.1 ratio where all OBLIGATION is equal or no more than remaining CIRCULATION & equal to no more of remaining depreciating PROPERTY VALUE,principal is re payed or rather payed out of circulation at the rate of depreciation then retired/deleted " NO ONE KEEPS IT" along with the obligation after its fulfilled

[ytgv3fc7]

@chotaboy66 absolutely wrong - this ratio does not exist. The actual utility of said property is too highly variable & obligations can be defaulted on or time-lagged to create overlapping waves of economic activity removing your "equation" completely. You're looking at paper-money rules. Paper-money is based on fraud. Go define the fraud in detail if you must but it isn't economics - it's crime.

[chotaboy66]

@ytgv3fc7 Preposterous assumption sir , this ratio has existed for the last 40 years & actually it was presented to the Reagan admin as solution by Mike Montagne author of mathamaticaly perfrected economy .Your rhetoric has no logic sir ,nothing overlaps ,nor is it to high in variables as the 1,1,1 ratio is " equal " or no more than remaining circulation, remaining deprecating property value & remaining obligation payed down at NO INTEREST out of circulation equal to depreciating property value.

[chotaboy66]

@ytgv3fc7 On the contrary to your illusions a borrowers promissory note or correctly speaking the obligors promissory obligation is creation subjected to fraud on conception before the fraudulent exchange perpetrated by all banks Why?Because the obligors promissory note has the only lawful consideration of value backed by the property value in question which is laundered out of circulation on conception causing endless circulatory deflation ,REALITY IS SIR THERE IS NO LOAN OR DEBT TO BEGIN WITH

[chotaboy66]

@ytgv3fc7 Furthermore if you deny the reality of a obligors promissory obligation without manipulation by banks just because you think it has no consideration of value you then deny your own self true representation of wealth.Creation of money is the peoples right & NOT THE BANKS intervening on our commerce pretending to be the true creditor by fraud laundering circulation .Fiat money is only a symptom of what happens before the fraudulent exchange, even before fictional expansion & issuance SIR

[PastorDowell]

Wondeful Max!

[pretorious700]

Macroeconomics as taught and practiced by clowns like Paul Krugman are what were once described as "voodoo economics". If you study at the graduate level now, all you do is sit around and think about ever more complex and meaningless models and algorithms. THAT'S NOT ECONOMICS.

[PersianPaladin]

Please read "A REFUTATION OF MENGER'S THEORY OF THE ORIGIN OF MONEY" by Stephen Zarlenga. Excellent piece.

[juujuuuujj]

One of the best moments on the show. I hope Sandeep Jaitly visits the show again.

[BlacksAreBeautiful]

MAX I have been waiting for you to bring Mr. Jaitly back. When will this happen?

[nwofunclub]

excellent piece

[slewofdamascus]

Sandeep Jaitly, Economic Advisor, Ron Paul Administration, 2012-2020. How fast can you say, "recovery, biotch!"

[Pertemba40]

Right on.