tag:blogger.com,1999:blog-6245381193993153721.post2916094188668620468..comments2024-03-17T00:23:24.896-07:00Comments on Social Democracy for the 21st Century: A Realist Alternative to the Modern Left: More Cultural Leftist Idiocy about MiloLord Keyneshttp://www.blogger.com/profile/06556863604205200159noreply@blogger.comBlogger25125tag:blogger.com,1999:blog-6245381193993153721.post-9868849043437200202017-02-20T12:10:08.553-08:002017-02-20T12:10:08.553-08:00Well, in any case I've literally said before t...Well, in any case I've literally said before that I don't know shit about economics. Thing is, that's the best and really only good thing about this blog. Other "stuff" not so much...Kevinhttps://www.blogger.com/profile/11890229869783893118noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-66115682433100234852017-02-20T11:54:22.698-08:002017-02-20T11:54:22.698-08:00hint for Kevin: reserves are the partition you don...<i>hint for Kevin: reserves are the partition you don't loan, so even with FRB no-one lends reserves, by definition</i><br /><br />What a nice display of twisting the language to suit your needs~! <br /><br /><i> he thinks Rothbard wants the market to decide if FRB is allowed</i><br /><br />Maybe you think that, since you've obviously read more of R'bard than I have?<br /><br />Sure thing, Ken. I have sources to back me up. How 'bout ye'self ;-)<br /><br />https://en.wikipedia.org/wiki/Fractional-reserve_banking<br /><br />"Fractional-reserve banking is the practice whereby a bank accepts deposits, makes loans or investments, and <i>holds reserves equal to a fraction of its deposit liabilities</i>. Reserves are held as currency in the bank, or <i>as balances in the bank's accounts at the central bank</i>. Fractional-reserve banking is the current form of banking practiced in most countries worldwide"<br /><br />Exactly what I said. The balances are what they hold <i>in reserves</i>, not what they lend. Point out where I said different.Kevinhttps://www.blogger.com/profile/11890229869783893118noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-47423330557274411642017-02-20T07:59:07.405-08:002017-02-20T07:59:07.405-08:00Really LK, Kevin has put on a most impressive disp...Really LK, Kevin has put on a most impressive display. He confuses money and currency, he confuses loans and reserves (hint for Kevin: reserves are the partion you don't loan, so even with FRB no-one lends reserves, by definition), he thinks Rothbard wants the market to decide if FRB is allowed. Ken Bhttps://www.blogger.com/profile/12976919713907046171noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-52361020136243311852017-02-20T06:03:06.077-08:002017-02-20T06:03:06.077-08:00"Banks don't lend out Reserves"
Hil..."Banks don't lend out Reserves"<br /><br />Hilarious Kevin. <br /><br />"We are the issuer of our own currency."<br /><br />Hilarious Kevin. We are talking about money not currency.<br /> Ken Bhttps://www.blogger.com/profile/12976919713907046171noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-57791358078261092312017-02-19T01:57:35.559-08:002017-02-19T01:57:35.559-08:00Kevin, you said no private bank should be allowed ...<i>Kevin, you said no private bank should be allowed to create money</i><br /><br />Ya think? That's what would happen if you took the responsibility of the Central Bank away from the Fed and and gave it to the Treasury. Show me where Rothbard says this. AFAIK, the Libertarian take is that the "market" should decide.<br /><br /><i>Loans with a fractional reserve create money</i><br /><br />Banks don't lend out Reserves, they simply create money out of thin air:<br /><br />http://www.economonitor.com/lrwray/2013/08/15/banks-dont-lend-reserves-who-knew-mmt-thats-who/<br /><br />And if you have no idea who L. Randall Wray is, just go to the top of LK's blog & type in his name ;-)<br /><br />http://www.forbes.com/sites/francescoppola/2014/01/21/banks-dont-lend-out-reserves/#5f2aeccc3594 <br /><br />https://www.kreditopferhilfe.net/docs/S_and_P__Repeat_After_Me_8_14_13.pdf<br /><br />http://mikenormaneconomics.blogspot.com/2012/02/banks-dont-lend-their-reserves-even-if.html <br /><br />So unless I'm missing something, the standard MMT/Post Keynesian position is that the US is Monetarily Sovereign. We are the issuer of our own currency.Kevinhttps://www.blogger.com/profile/11890229869783893118noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-58041753594809386562017-02-18T15:35:03.535-08:002017-02-18T15:35:03.535-08:00Kevin, you said no private bank should be allowed ...Kevin, you said no private bank should be allowed to create money. That is the same as outlawing FRB. Loans with a fractional reserve create money. Ken Bhttps://www.blogger.com/profile/08207803092348071005noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-32781172439867051272017-02-18T11:33:35.617-08:002017-02-18T11:33:35.617-08:00Look, I got my information from MMT, no some wack-...Look, I got my information from MMT, no some wack-job Libertarian website so back off me.<br /><br />Kucinich's plan was to replace the Fed with the US Treasury, which would mean we'd still have a central bank. That would not be a Rothbardian move. AND I'm not talking about the Gold Standard. Also, educate yourself in MMT & the concept of Monetary Sovereignty:<br /><br />https://mythfighter.com/2010/08/13/monetarily-sovereign-the-key-to-understanding-economics<br /><br />https://en.wikipedia.org/wiki/Monetary_sovereignty#Incidence_of_monetary_sovereignty<br /><br />http://www.ejil.org/pdfs/24/3/2425.pdf<br /><br />https://mythfighter.com/2010/08/13/monetarily-sovereign-the-key-to-understanding-economics<br /><br />Also, study the US Constitution. Argue with the Framers if you don't like it:<br /><br />http://usconstitution.net/const.html#A1Sec8Kevinhttps://www.blogger.com/profile/11890229869783893118noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-10595277190711067092017-02-18T06:10:14.331-08:002017-02-18T06:10:14.331-08:00With FRB private banks create money. Banning banks...With FRB private banks create money. Banning banks from creating money is the equivalent of banning FRB. <br /><br />LK, do you have the patience to explain FRB to this Rothbardian fool? I haven't. Ken Bhttps://www.blogger.com/profile/08207803092348071005noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-80092344324712992252017-02-18T02:19:48.515-08:002017-02-18T02:19:48.515-08:00This comment has been removed by the author.Kevinhttps://www.blogger.com/profile/11890229869783893118noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-69179954213084910822017-02-17T14:29:29.745-08:002017-02-17T14:29:29.745-08:00https://youtu.be/RIVq_eV5bQc
https://youtu.be/Oq7Y...https://youtu.be/RIVq_eV5bQc<br />https://youtu.be/Oq7YRg55h8A<br />https://youtu.be/JoaoQPbTC6gKevinhttps://www.blogger.com/profile/11890229869783893118noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-53748055574825823302017-02-17T06:33:01.376-08:002017-02-17T06:33:01.376-08:00Hey LK, another one joins the Rothbard faction on ...Hey LK, another one joins the Rothbard faction on FRB!Ken Bhttps://www.blogger.com/profile/12976919713907046171noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-92202323048577350432017-02-17T06:13:55.246-08:002017-02-17T06:13:55.246-08:00Not just Milo. The vicious Dalai Lama too.
http:/...Not just Milo. The vicious Dalai Lama too.<br /><br />http://heatst.com/culture-wars/uc-san-diego-students-protest-oppressive-dalai-lama-visit/<br /><br />It's like an army of Kevins!<br />Ken Bhttps://www.blogger.com/profile/12976919713907046171noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-5007332039385041912017-02-17T04:00:19.547-08:002017-02-17T04:00:19.547-08:00Thanks for the classification.
To continue with th...Thanks for the classification.<br />To continue with the examples, I would say Geert Wilders it's (2), while Katter's Australia and NZ First are (3).IBozohttps://www.blogger.com/profile/13039702307892430984noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-7682013445490449462017-02-17T02:25:41.817-08:002017-02-17T02:25:41.817-08:00stop private banks creating new money?
They shoul...<i>stop private banks creating new money</i>?<br /><br />They shouldn't be. Only the sovereign issuer of the Currency should be creating money. Even if it's a Non-Fixed Fiat Currency.Kevinhttps://www.blogger.com/profile/11890229869783893118noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-76574225778402631232017-02-16T23:37:41.102-08:002017-02-16T23:37:41.102-08:00Agree Ken. This is really a one-of-a-kind site an...Agree Ken. This is really a one-of-a-kind site and LK is to be commended for it.<br /><br />On the alt-right scale, I'd place myself somewhere between 3 and 4, but with old Left economics and an agnostic point of view on identity issues like gay marriage.<br /><br />.jingelichttps://www.blogger.com/profile/09998585247772423235noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-60702836358722784922017-02-16T23:32:28.426-08:002017-02-16T23:32:28.426-08:00Is this the same Dennis Kucinich that introduced a...Is this the same Dennis Kucinich that introduced a bill to the US legislature to stop private banks creating new money? He seems sound on economic and foreign policy, of that's the case.jingelichttps://www.blogger.com/profile/09998585247772423235noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-85666320135938165582017-02-16T07:58:38.962-08:002017-02-16T07:58:38.962-08:00Your blog is very good. In addition to being a soc...Your blog is very good. In addition to being a social democrat, you also criticize the imbecilities of the left. This is missing here in my country.<br /><br />Roni Pereira, from Brazil.Roni Pereirahttps://www.blogger.com/profile/04649552046326401819noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-89645793187239589522017-02-16T03:43:35.845-08:002017-02-16T03:43:35.845-08:00These cultural leftist really do a favor to Milo. ...These cultural leftist really do a favor to Milo. People might not agree what Milo says but no one likes him being shut up. As far as safe spaces, triggering and virtue signalling goes, the cultural left needs to be taken down. They are totalitarian. In that sense Trump happening is a very good event. Hillary showed her colors with deplorables. This is exactly the way of thinking of a cultural leftist. You have opinion about feminism other than mainstream, you are a misogynyst, you have an incorrect opinion about immigration, you are a white nationalist. Or by supporting Trump you are a deplorable most likely. It is the globalist mindset and left is behind globalism. I don't understand why when they see terrible austerity in Greece, they still support euro, they understand that EU is undemocratic, they still supoort it. Same is happening everywhere, nazies were for Brexit, hate crimes went up etc. They seem to be supporting internationalism, may be they are hoping for Marxist revolution? It is very hard to explain it otherwise, disappearing of democratic accountability, unions and all the stuff laft has stood for. Not any longer, now it is identity politics, hunting nazies etc.Kristjanhttps://www.blogger.com/profile/09592440548093816331noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-25282214188759061592017-02-16T03:40:08.060-08:002017-02-16T03:40:08.060-08:00The alt-right tends to see the bad and only the ba...The alt-right tends to see the bad and only the bad in the world - but not because they're problem solving engineers looking for a solution.<br /><br />People don't like Trump because he articulates the answer to the problem. No, they like him because he gives them attention in just the right way. Like when a woman cries you don't tackle the cause of her tears, you give your shoulder to cry on and make the right soothing noises - that's what Trump does. Trump offers a blip of approval/attention/sympathy to people with chronic low self-esteem and that's why they love him.<br /><br />Rnoreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-69188001039547849582017-02-16T03:09:39.831-08:002017-02-16T03:09:39.831-08:00The alt-right is bound by personality far more tha...The alt-right is bound by personality far more than ideology. I'm not only referring to the Fuhrerprunzip and the cult of personality, but as individuals they're similar to one another. <br /><br />Struggles with the opposite sex and in making friends or complete discontent with your position and place even if this high status. The complete absence of self-esteem, the sense of never being good enough or rejected, and a recourse to race and fuhrer as the only way to s(t)imulate the feelings of self-belief.<br /><br />Rnoreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-52386368223165746272017-02-15T16:03:18.969-08:002017-02-15T16:03:18.969-08:00Dennis Kucinich Says Intel Community Making 'U...Dennis Kucinich Says Intel Community Making 'Unprecedented' Effort to Upend Trump:<br /><br />https://youtu.be/mFR9z5fwf48<br /><br />Published on Feb 14, 2017<br /><br />Former U.S. Rep. Dennis Kucinich (D-Ohio) was a guest Tuesday on "Mornings with Maria" discussing how the intelligence community is seeming to upend President Donald Trump in the wake of Michael Flynn's resignation as national security adviser.<br /><br />The former Democratic presidential candidate and Fox News contributor said the bigger issue here is that the phone conversations between Flynn and Russian Ambassador Sergey Kislyak were intercepted and leaked to the media.<br /><br />"The American people have to know that there's a game going on inside the intelligence community where there are those who want to separate the U.S. from Russia in a way that would reignite the Cold War," Kucinich said. "That's what's at the bottom of all this. It's early in the morning, it's Valentine's Day, but wake up America!"Kevinhttps://www.blogger.com/profile/11890229869783893118noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-17827870580019222952017-02-15T13:25:38.315-08:002017-02-15T13:25:38.315-08:00How would you characterize the difference between ...How would you characterize the difference between "alt-right" and "alt-left"? They seem broadly similar, and the alt-right tent already seems to encompass what might be considered alt-left. Both seem generally to be nationalistic, populist, anti-globalist, and in favor of various forms of leftist political economy such as socialism, corporatism, and dirigisme. <br /><br />By "cultural leftism," do you just mean "Cultural Marxism," or is there another significance to the term?Bobnoreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-2857430550725712242017-02-15T13:18:02.515-08:002017-02-15T13:18:02.515-08:00That teacher needs to hang around more sane people...That teacher needs to hang around more sane people.Taylorhttps://www.blogger.com/profile/10016748298615461581noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-44778957930722238562017-02-15T12:43:52.218-08:002017-02-15T12:43:52.218-08:00I'm going to be trying to work through Peter N...I'm going to be trying to work through Peter Navarro's online course on Economics, so I'll be in the "Economics" section around here, not the Comics page for awhile ;-) Milo is not someone I want to give any more publicity to by discussing him.Kevinhttps://www.blogger.com/profile/11890229869783893118noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-90428216179212693192017-02-15T06:30:41.126-08:002017-02-15T06:30:41.126-08:00You are doing good work here LK. Simply trying to ...You are doing good work here LK. Simply trying to be fair and accurate really shouldn't be a stand-out quality but, especially on the Left these days, it seems to be.<br /><br />Put me a bit past group 1, say group 1 1/4.<br />Ken Bhttps://www.blogger.com/profile/12976919713907046171noreply@blogger.com