From the Democratic Underground
Given this, how can you ever be broke? Answer, you cannot be broke. The U.S. government is not in debt simply because it can create currency to pay off the debt, and our creditors gladly accept our currency as payment on our debts. You see, the world needs our dollars because the world needs oil, and in order to buy oil, you need dollars, which means that the world needs to stockpile dollars, and that means that the U.S. can print all of the money that it wants without incurring massive hikes in interest rates to attract lenders.
Seriously people. I'm not making this up, but then again, it kind of confirms what we already knew. Liberals and leftists are completely ignorant and clueless when it comes to economics. They've been too lazy to bother studying it, let alone, understand it. However, you'd think as they grew up, inevitably adult curiosity, let alone intellectual maturity and honesty would drive them to starting to figure it out. Of course they don't, they merely double down and get more bitter. But I think I've finally figured out why that is.
They're afraid.
Afraid of what?
Afraid that they'll inevitably realize they've been wrong this entire time. That they're not as smart as they thought they were. That they weren't as brilliant as their teachers told them in the 10th grade.
Only thing I'll add is notice how in the third paragraph the author describes what the "ideal" leftist economy would look like. Also notice it's unsupportable and unsustainable because nobody is producing anything of value.
Gahh!!! The stupid, it burns!!!
ReplyDeleteEconomic illiteracy at its finest. The only thing that helps me sleep at night is knowing that folks like that are statistically less likely to reproduce. Leftism will end, either through economic collapse or through demographic destiny, I just hope we can limit the damage that they can do.
ReplyDeleteWow! Is that a joke? The idiocy of certain people astounds me. They have no understanding of what fiat currency does or what the gold standard was.
ReplyDeleteNow I know why I stopped taking sites like The Democratic Underground and Media Matters seriously, even though there will always be complete morons on both sides of the political spectrum in my opinion.
This would certainly jive with AnonCon's Narcissistic assessment of them.
ReplyDeleteNarcissists are terrified of admitting that they're wrong, terrified of the idea of people laughing at them, or seeing them for the idiot they really are; so as a response they constantly double-down on their manufactured identity. They'll refuse to acknowledge the outside world until it all comes crashing down.
What I can't wait for is the moment when it does all crash down on them (and us all) and these morons rationalize to themselves that "no one could have seen this coming!"
ReplyDeleteI don't like defending the Democratic Underground, but to be fair, a lot of people told him he was a stupid, stupid man.
ReplyDeleteThat's because Instapundit and SDA linked to him. Bunch of conservatives made it look like the Democrat Underground was smarter than it is.
ReplyDeleteI'm real sorry to burst that DU poster's bubble, but the world won't need US dollars to buy oil any more after my perpetual motion machine destroys the oil industry.
ReplyDeleteThe left *has* studied economics. The problem is that the right hasn't studied economics past 1920.
ReplyDelete2 words: Keynesian economics. Before you say that it's all bunk, remember that all other schools of economics failed to predict the lack of inflation present despite the tripling of the monetary base: http://krugman.blogs.nytimes.com/2012/08/25/inflation-lessons/
So yeah. Lefties understand economics better than righties.
ddxxdd,
ReplyDeleteOh, you mean the inflation in the stock market, housing market, education bubble, and government treasuries doesn't count?
We're only concerned about consumable items in the economy being inflated which means we ignore asset and investment inflation?
Not to mention, if you want to go the consumable route, just wait until the banks actually do start lending and the money created actually is lent out. Oh, you'll see inflation my boy.
Cpt.
Captain:
ReplyDeleteTake some time to educate yourself and your readers on the Petrodollar and how it helps underpin the US dollar's status as the World Reserve Currency especially after closing the gold window in 1971. Also vital is controlling energy supply corridors to China. Any OPEC country that attempts to disrupt this scheme is dealt with harshly.
I recommend William Clark's book "Petrodollar Warfare" that explains the IMF petrodollar recycling scheme in more detail.
Taking the time to understand concepts like the IMF, Geopolitical Realpolitik, the Petrodollar or Central Banking will give you a much greater insight into world events.
http://www.youtube.com/watch?v=13Rll6ZHbow
Also see:
ReplyDeletehttp://www.youtube.com/watch?v=QGakDrosLuA
I helped support the Afghanistan; Iraq; and Georgia program offices for a certain NGO and eventually one must become aware of the underlying politics over resources in these regions; energy pipelines as well as its consequences on global monetary policy and economic hegemony.