Do you guys know why the MMT cocksuckers don't like Yang's freedom dividend

[Stockolio]

Because it puts the power in the hands of the people.

Goods in any Society will always adjust to new purchasing power... Yea government dumping extra 500 a month will sound good at first... If 1 Bedrooms condo go up by 300 a month, food and service inflation increase even faster then now, what's the point ? Within a few years you are back at square one, but now stuck giving 500 a month or everything collapses. Adding liquidity has a smaller effect then removing liquidity

Federal Reserve has over 100 PHd's in Economics working there... They clearly understand effects of liquidity and purchasing power, Helicopter money should be in times of extreme collapse like the one of 2019-2020, which will be the case instead of QE, they will deposit money directly in consumer's hand bypassing banks. Problem is some genius will eventually pop out, and try to outperform the next retard and claim to give it permanently so he can ride Air Force One for 4 years, and it ends with total collapse of American Financial System not long after. American government is running a deficit of 1.4 Trillion a year on paper, in a good economy. What happens in Recession time, 3 Trillion a year deficits for 2 years ? What about Pension fund collapse in 5 years, 4-5 Trillion a year deficit ? What happens when Oil demand severely drops within 10 years time ?

Raise the interest rates in 2021 steadily, if it affects the clowns and zombies, so be it... Flush the zombies out of the system, bring the private sector back and make it a fair playing field. 4-5 % Interest rates will do much better to a Society, then 1 % interest rates, only to Socialize the debt when it crumbles cause it's " too big to fail ", and then create more, which then creates a even bigger gap between employers and employees. Boom bust cycles are a necessity but these Central Banks clowns are fucking clueless at this point what they are doing. There is no way all these PHd's can be this dumb, they just don't give a fuck, they like Socializing debt and privatizing profits for there boys

ECB is the perfect example, banks in Europe can loan to anybody with a pulse, loses don't matter, ECB will flush liquidity in Interbank Lending for 0 % interest, while the banks collect interest and commissions on the loans. They ruined Fiat Money by just going overkill retard mode

 

[nooby_mcnoob]

Yes I agree that rent is probably the thing that would be most affected.

 

[nooby_mcnoob]

Ask an Alaskan what happens to the store shelves in Anchorage when the yearly dividend hits their pockets.

I don't know any, can you ask one and let me know?

 

[nooby_mcnoob]

According to this article, inflation went down after introduction of the Alaska dividend:

 

[nooby_mcnoob]

Goods in any Society will always adjust to new purchasing power... Yea government dumping extra 500 a month will sound good at first... If 1 Bedrooms condo go up by 300 a month, food and service inflation increase even faster then now, what's the point ? Within a few years you are back at square one, but now stuck giving 500 a month or everything collapses. Adding liquidity has a smaller effect then removing liquidity

Federal Reserve has over 100 PHd's in Economics working there... They clearly understand effects of liquidity and purchasing power, Helicopter money should be in times of extreme collapse like the one of 2019-2020, which will be the case instead of QE, they will deposit money directly in consumer's hand bypassing banks. Problem is some genius will eventually pop out, and try to outperform the next retard and claim to give it permanently so he can ride Air Force One for 4 years, and it ends with total collapse of American Financial System not long after. American government is running a deficit of 1.4 Trillion a year on paper, in a good economy. What happens in Recession time, 3 Trillion a year deficits for 2 years ? What about Pension fund collapse in 5 years, 4-5 Trillion a year deficit ? What happens when Oil demand severely drops within 10 years time ?

Raise the interest rates in 2021 steadily, if it affects the clowns and zombies, so be it... Flush the zombies out of the system, bring the private sector back and make it a fair playing field. 4-5 % Interest rates will do much better to a Society, then 1 % interest rates, only to Socialize the debt when it crumbles cause it's " too big to fail ", and then create more, which then creates a even bigger gap between employers and employees. Boom bust cycles are a necessity but these Central Banks clowns are fucking clueless at this point what they are doing. There is no way all these PHd's can be this dumb, they just don't give a fuck, they like Socializing debt and privatizing profits for there boys

ECB is the perfect example, banks in Europe can loan to anybody with a pulse, loses don't matter, ECB will flush liquidity in Interbank Lending for 0 % interest, while the banks collect interest and commissions on the loans. They ruined Fiat Money by just going overkill retard mode

Oh wow somehow I missed your entire post. I blame mobile.

Here is my view on "free money". It is always going to exist. Every civilization in history has had the political class debase the money for their own benefit. So since it is going to happen anyway, in a republic, it makes too much sense for the monetary debasement to be for the benefit of everyone and not just the elite.

Here are possible ways you can avoid the "rent" increase:

1. Opt to receive your dividend at irregular intervals
2. Depend on current rent regulations (some cities don't allow you to raise rent more than x%/year anyway)
3. Hope for the best

Practically speaking, here is how it would work:

1. My landlord comes to me and says: "Your rent is going up by $1000/month next renewal"
2. I say fuck that shit and find a cheaper place
3. Move on

Unless every landlord in the US will simultaneously raise rent by $1000, there will be some room for efficiency here. I do worry about rent the most, it will disproportionately impact poor people.

 

[destriero]

I don't know any, can you ask one and let me know?

lol yes, she said the retailers raise prices and it still results in empty shelves.

 

[nooby_mcnoob]

lol yes, she said the retailers raise prices and it still results in empty shelves.

Indeed, it seems eminently plausible. That being said, take a look at Kuwaiti's inflation rate after their dividend (2011): https://www.worlddata.info/asia/kuwait/inflation-rates.php , and Alaska's CPI vs the US after the introduction of theirs (1976): http://live.laborstats.alaska.gov/cpi/index.cfm

The long term results of both of these oil-dependent economies (the only ones who can really afford to give such a dividend) is that after the introduction, inflation indices stayed below the rest of the country or comparable economies.

There are so many factors that could be relevant but comparatively, I think this is a good feather in the cap of a UBI supplement.

I use this as a bedtime story so I am acutely aware of the impact of free money on everyone:

The, I hope, undisputed fact is that free money has only accrued benefits to the top x% which has resulted in a bifurcated economy and society a la Dalio's 60/40%. Perhaps your perspective is "I've got mine", but really, your kids will suffer if society breaks down. Have you ever driven through Illinois, Indiana? Some parts of it are third world. How long do you think that can spread to the rest of the country without reprisal?

 

[destriero]

One-off economies, and small. Look at the ASP of anything you buy in AK or Kuwait and compare that price to the rest of the developed world. Sure, AK has transport costs.

Yang is proposing a dividend equivalent to 15% of US GDP.

 

[nooby_mcnoob]

Not sure what you mean by one-off economies, maybe one-trick pony? The McDonald's index might be a good comparison as well: https://www.nerdwallet.com/blog/mor...er-pounder-index-most-least-expensive-cities/

 

[destriero]

Indeed, it seems eminently plausible. That being said, take a look at Kuwaiti's inflation rate after their dividend (2011): https://www.worlddata.info/asia/kuwait/inflation-rates.php , and Alaska's CPI vs the US after the introduction of theirs (1976): http://live.laborstats.alaska.gov/cpi/index.cfm

The long term results of both of these oil-dependent economies (the only ones who can really afford to give such a dividend) is that after the introduction, inflation indices stayed below the rest of the country or comparable economies.

There are so many factors that could be relevant but comparatively, I think this is a good feather in the cap of a UBI supplement.

I use this as a bedtime story so I am acutely aware of the impact of free money on everyone:

The, I hope, undisputed fact is that free money has only accrued benefits to the top x% which has resulted in a bifurcated economy and society a la Dalio's 60/40%. Perhaps your perspective is "I've got mine", but really, your kids will suffer if society breaks down. Have you ever driven through Illinois, Indiana? Some parts of it are third world. How long do you think that can spread to the rest of the country without reprisal?

I was born and raised in Illinois, but on the North Shore of Chicago (Winnetka).

Drive through Dogpatch SF. We (had) property there and visit nearly every weekend. There are tent "communities" under the 280.

Let's say that the gains in GDP from all of this consumption pays for the program. How do you control the resulting inflation that is the result of two massively inflationary forces? A GDP running perhaps North of 7% and massive gains to CPI.