Re: trouble in Oz??


<travisgod@xxxxxxx> wrote in message news:3c2689b0-9555-4f59-8c2e-e765826cead9@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
On Oct 21, 8:15 pm, "Greendistantstar"
<pde63539removet...@xxxxxxxxxxxxxx> wrote:
<travis...@xxxxxxx> wrote in message

news:6b7cae58-0016-42e3-82fb-c02534286a00@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

>http://www.theaustralian.news.com.au/business/story/0,28124,24531049-...

> Seems to be a global problem...

This is nothing compared to us losing the 2nd cricket test to India ;>)

--
GDS

"Let's roll!"

OMG...yes, I see your point, sir. That sort of *** transcends
ordinary life.
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Cricket is above ordinary life, yes....;>

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The economists have fucked us all...I read some more theses today from
your bud Steve, one of which was a refutation of Circuitist economic
theory.
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Yup, Steve knows his stuff...

http://www.debunkingeconomics.com/

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The examples provided are typical economics bunk...you have bank A and
firm B and worker C and blablabla...and you merely POSIT a loan and
some production and interest and wages leading to reserves and capital
goods.

NEVER FUCKING MIND reality...what if the cost of production goes up?
What if you're in the helium business and helium production peaks? I
won't even mention oil because too many people have too vested an
interest in denying Peak there. Helium has incontrovertibly peaked
and should serve as conclusive evidence that supplies of physical
things CAN peak.

So, what if there's no power, or oil becomes scarce or whatever?
There's NO PRESENCE at ALL of ANY of these issues within economics
texts! Energy supply is ASSUMED to exist in infinite quantities to
make these idiotic abstract theses work! Whatever process Firm B
employs is ASSUMED to be efficient and robust and durable.

The profession of economics OMITS the real world. This is precisely
WHY Bernanke THINKS and BELIEVES that interest rate policies DICTATE
economic growth and aggregate demand and production! In his
TEXTBOOKS, in ALL OF THEM, they DO!

And, they have pretty laughable differential equations in them, done
so to appear mathematical beyond a conceptual theory, in order to
demonstrate relationships between interest rates, lending, and
production, without REGARD to the reality of the production process.

To an economist, production processes are an abstraction. Interest
rates DID promote growth until the real physical elements necessary
for growth evaporated. Again, if you were in the helium business, NO
AMOUNT of cheap credit could cause you to produce MORE helium next
year than last.

The entire SYSTEM these heretics use to govern their actions
completely BREAKS DOWN in the face of reality. The economists have
treated economies as an abstraction, when they are not, in an attempt
to tie lending to production. Economics is total fucking junk.
Workers, production, products - these are not abstractions. Nobody
bothered to say, well, what happens to Firm B if helium supply peaks?
What happens to their business model, wages, workers, ability to repay
debt, and their ability to get a loan from a SMART bank who realizes
that twilight is upon their business model? Reality inserts an
inevitable tidal wave of default and deflation should reality fail to
be the smooth assumptions that economists make when they jack around
their levers.

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Yup, and we thought the supply of top cricketers was infinite....and then India beats us by 342 runs.......the shame, the shame.....


--
GDS

"Let's roll!"


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