True News 49: Deflation Panic!

Deflation - good for you, bad for the state.

http://www.freedomainradio.com

Category:

News & Politics

Tags:

• deflation
• inflation
• federal
• reserve
• economics
• depression
• recession

[TedWillingham]

I like the powerpoints, they keep you on track, Stef =P

[stefbot]

haha not the easiest thing in the world to do...

[yuberries]

I'm a lizard who happens to wear glasses, and I approve of this message!

[stefbot]

haha! :)

[johnpdd]

Eastern Standard?  Or is it Eastern Daylight time during the summer?

[stefbot]

Eastern Standard

[RLore18]

Many great points. Stephan always explains things very well, especially when he's got a powerpoint prepared.

But this really is the most important point that can be expressed, and he did express it well: "So long as your entire paycheck and savings are forever vulnerable to 100% loss of value by inflation, so long as the state can take away everything that you have simply by printing in a building far far away from you, you will never have any chance at freedom."

[gavinjengel]

Mr. Molyneux, in a Stateless society when the currencies were backed by commodities like gold, wouldn't there be little inflation and also deflation? Is that the end goal of Austrians, to have currencies which are very stable? Or is small but continuous deflation a good thing (even in Stateless society, I mean)? I imagine deflation is only a defense against central banks, but is not good for freed-markets, is that true?

[16sag7]

The problem is most people don't even understand how money is created in the banking system. Your signature creates money and you don't get to participate in that cash creation just the banks. I can talk with 10 people and none of them have a clue about the banking system that rules their lives. When you tell them money is created out of thin air they look at you like you are from another planet. Boy is the average Joe's ignorance is killing us all.

[wwickeddogg]

?? So if most people in the US are debtors, then inflation is good for most people. Sounds like older people on fixed incomes should vote for republicans who support deflation and cutting spending, while younger people in debt who will see their earnings increase should vote for democrats who support inflation and increased spending.

seems like most people already have this basic understanding

[WesSeid]

@StiG7 Previously, you said the power point part is boring and the face video should fill the screen. I think, while perhaps redundant, the power point with the face in the corner makes it more interesting. And perhaps redundancy isn't a bad thing either when trying to get a point across.

Regardless, you didn't care for it, I did, that's cool. Either way, it's nice to hear something positive about deflation for all the (few?) non-debtors out there. :)

[StiG7]

@WesSeid Writing the information you are talking about as it is spoken is just not "necessary" is the point i was trying to make. the amount of effort that goes into creating these blocks of text could just as easily be spent making more engaging visual links with images. This video, in its current state really doesn't need to be a video at all. i could read all the information as a paragraph of text. But as i said it was only some constructive critique from a motion designers perspective.

[WesSeid]

@StiG7 As long as there's a face on it somewhere, it makes the video more... personal, I guess is a good enough word. For me, if the video of a vid is just a talking head, I'll generally just listen to the audio while doing something else.  I think the Powerpoint with the face in the corner is pretty darn good.

[Nintendomanwill]

Worst economics is not liquidity-preference Keynesian antiprofit anticapitalism but conflating inflation-produced malinvestment with growth

'always a job to be done'

Say's Law: There's no such thing as 'demand,' Walras was wrong and Say was right-overproduction is a bad thing that should NOT be solved by more demand. Because production itself is a value judgement so the problem is overproduction causing underproduction-unmet demand in OTHER sectors

'Demand' is constant-no GENERAL GLUT exists

[Nintendomanwill]

Inflation distorts intersectoral prices making the Soviet Banking Cartel known as the Fed Reserve System, invest into gluts whose overproduction they know not because of inflation's disruption of market plebeian-imputed price signals. This is obvious yet retarded Milton Friedmanites think inflation is required to push up the average price level to induce growth because they POSITIVISTICALLY conflate deflation with production shrinkage as it follows post-inflation restructuring of malinvestment.

[Zen5012]

@vegaswolf

I was hoping somebody wasn't saying otherwise. I know the logical reasoning of the populace is weak but it can't be that damn bad.

[vegaswolf]

@Zen5012 I was being rhetorical.