Dalio goes full retard, likes MMT

[nooby_mcnoob]

Dalio and Bridgewater are definitely very cult-like in how they run their company. However it's an invalid logical leap to state that this means they want the U.S. government to be run in the same manner. From my personal experience the U.S. military is the most socialist organization possible...the government provides your healthcare, housing, food, clothes, even childcare..to each according to their needs. And it tells you what your job will be according to its estimation of your abilities, tells you where to live, even regulates where you can travel when you're not working and what businesses you can enter (you can literally be put in prison with a felony level conviction for going to Tijuana or your local shop that sells bongs or even certain strip clubs or auto dealers). That's beyond socialism, it's a damn good approximation of full on communism. And yet the folks in the military and military leadership are extremely conservative by and large and the fact that they work in an organization run on communist principles in no way means they advocate for a communist government for the country they defend. You can no more claim that Dalio and the folks at Bridgewater are advocating for a socialist government because of how they internally run their organization than you could say that of the military, it's an utterly absurd statement.

Have you read his articles? He's calling for exactly the politburo approach. He won't call it that for obvious reasons but that's what it is.

Guaranteed jobs program? More like feudalism.

I agree with your points on the military being socialist. But it's opt in for the most part.

 

[Sig]

But it's opt in for the most part.

As is working for Bridgewater.

My point is that you argued that because Bridgewater is run in a socialist manner, that fact supports or indicates that Dalio want's the U.S. government to be run in a similar matter ("But Dalio's company Bridgewater is run very much like a socialist government would be run", what was the point of that sentence?). That is an absurd statement. If you're changing to an argument that Dalio is calling for a socialist government that's an entirely different argument. The fact that you shift arguments without acknowledging that what you previously stated was absurd is both in keeping with your previous posts here (see the thread referenced where you claimed you didn't say something that you had said exactly just a couple threads before) and, just a tip for being an effective person in general, makes everyone simply disregard what you're saying and makes any arguments you posit afterward completely ineffective.

I don't doubt you may have a good point about the underlying subject. The way you opened your post, the initial arguments you chose, and the way you've responded, all ensured that any valid points you might have will never see the light of day. I'd recommend you refer to the other thread about MMT to see how intelligent, well meaning people discuss these things.

 

[piezoe]

Dalio mentioned that he disagreed with the following aspects of MMT:

• There are aspects of MMT that I disagree with. Here are just a couple:
  

1. I disagree with the notion that businesses don’t make investments based on the cost of money and just make decisions based on business prospects. Both the cost of funds and business prospects are important. The cost of capital is a giant influence on the decisions of businesses to do things. For example, the low cost of capital was the reason US companies did huge amounts of share buybacks.
2. Some MMTers blame inflation primarily on businesses’ excessive pricing power. While that might influence inflation, the bigger deal is that when you have a shortage of something (labor, commodities, etc.) and excessive demand for it, the price of that thing goes up.

I just wanted to comment that from my own study these Dalio's points 1 and 2 above seem a slight misrepresentation of what MMT economists are telling us. This suggests to me that he (Dalio) has perhaps not spent quite enough time yet studying MMT but I am pleased that he is calling attention to what MMT economists have to offer.

As far as point 1 goes, I think that a more general opinion of MMT economists is that small increases in the Fed Funds Rate are ineffective in decreasing appetite for credit, and that it takes very large increases in the funds rate, a'la Volcker, before one sees much effect on credit issuance. The MMT economists have pointed out that interest rate adjustments are a rather an ineffective monetary policy tool compared to other tools. At extremes, near zero or double digit, of course there is quite a demonstrable effect. So in my opinion what the MMT economists are telling us is that over the usual range of rates small adjustments have practically no effect on the demand for credit.

 

[nooby_mcnoob]

As is working for Bridgewater.

My point is that you argued that because Bridgewater is run in a socialist manner, that fact supports or indicates that Dalio want's the U.S. government to be run in a similar matter ("But Dalio's company Bridgewater is run very much like a socialist government would be run", what was the point of that sentence?). That is an absurd statement. If you're changing to an argument that Dalio is calling for a socialist government that's an entirely different argument. The fact that you shift arguments without acknowledging that what you previously stated was absurd is both in keeping with your previous posts here (see the thread referenced where you claimed you didn't say something that you had said exactly just a couple threads before) and, just a tip for being an effective person in general, makes everyone simply disregard what you're saying and makes any arguments you posit afterward completely ineffective.

I don't doubt you may have a good point about the underlying subject. The way you opened your post, the initial arguments you chose, and the way you've responded, all ensured that any valid points you might have will never see the light of day. I'd recommend you refer to the other thread about MMT to see how intelligent, well meaning people discuss these things.

Read his other articles on the two economies and see if he isn't proposing a politburo. Read in the name of thy Lord who created you

 

[Sig]

Read his other articles on the two economies and see if he isn't proposing a politburo. Read in the name of thy Lord who created you

Since I'm not discussing what he wrote, rather what you wrote, perhaps you can be bothered to stop and think about what you wrote?

Did you or did you not state ""But Dalio's company Bridgewater is run very much like a socialist government would be run"?

Why did you write that, what point were you attempting to make with it?

Are you so uncomfortable with your own words from just a few minutes ago that you frantically try to change the subject to something completely different repeatedly when confronted with them? Again, that's not how intelligent well meaning adults carry on a discussion.

 

[nooby_mcnoob]

Since I'm not discussing what he wrote, rather what you wrote, perhaps you can be bothered to stop and think about what you wrote?

Did you or did you not state ""But Dalio's company Bridgewater is run very much like a socialist government would be run"?

Why did you write that, what point were you attempting to make with it?

Are you so uncomfortable with your own words from just a few minutes ago that you frantically try to change the subject to something completely different repeatedly when confronted with them? Again, that's not how intelligent well meaning adults carry on a discussion.

I love you man but you are tedious.

What I say is irrelevant. What Dalio says is relevant. Read between the lines. He wants a command economy because he can profit more predictably. I've been reading his stuff for a long long time.

 

[Frederick Foresight]

I love you man but you are tedious.

What I say is irrelevant. What Dalio says is relevant. Read between the lines. He wants a command economy because he can profit more predictably. I've been reading his stuff for a long long time.

I'm guessing you're a proponent of laissez-faire?

 

[nooby_mcnoob]

I'm guessing you're a proponent of laissez-faire?

I think a lot of what Dalio says is ideal circumstance. But humans are dicks.

 

[Frederick Foresight]

I think a lot of what Dalio says is ideal circumstance. But humans are dicks.

And so, what would you regard to be a real-world approach to dealing with the economy?

 

[nooby_mcnoob]

And so, what would you regard to be a real-world approach to dealing with the economy?

Reasonable social safety net provided by magic money (Yang), basic law and order, and go away.