Hazlitt's Battle With Bretton Woods: "The Austrians were right"
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http://www.lewrockwell.com/rockwell/hazlitt-bretton-woods147.html[^] Yes everyone, I visit this site quite often. Lew Rockwell is the founder and chairman of the Ludwig von Mises Institute in Auburn, Alabama, USA. The Mises Institute was, yes, you guessed it, an Austrian economist. In fact, he was THE Austrian economist of his day, and basically came up with the foundation of the freedom philosophy on the economics side. Anyway, I implore you to check out this article, at the very least the first paragraph. It's kind of a joke at the beginning, but not really. Peter Schiff, Lew Rockwell, Ron Paul, Tom Woods, etc all knew that the bubble was going to burst. The biggest problem with this theory of economics is the fact that you don't know WHEN the bubble is going to burst, but it just relates back to business cycle theory. What goes up must come down, it's a matter of physics, logic and common sense.
Josh Davis
Always looking for blackjack. Or maybe White Frank. One of the two. -
http://www.lewrockwell.com/rockwell/hazlitt-bretton-woods147.html[^] Yes everyone, I visit this site quite often. Lew Rockwell is the founder and chairman of the Ludwig von Mises Institute in Auburn, Alabama, USA. The Mises Institute was, yes, you guessed it, an Austrian economist. In fact, he was THE Austrian economist of his day, and basically came up with the foundation of the freedom philosophy on the economics side. Anyway, I implore you to check out this article, at the very least the first paragraph. It's kind of a joke at the beginning, but not really. Peter Schiff, Lew Rockwell, Ron Paul, Tom Woods, etc all knew that the bubble was going to burst. The biggest problem with this theory of economics is the fact that you don't know WHEN the bubble is going to burst, but it just relates back to business cycle theory. What goes up must come down, it's a matter of physics, logic and common sense.
Josh Davis
Always looking for blackjack. Or maybe White Frank. One of the two.Wasn't Hitler from Austria ? :P
Christian Graus Driven to the arms of OSX by Vista. Read my blog to find out how I've worked around bugs in Microsoft tools and frameworks.
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Wasn't Hitler from Austria ? :P
Christian Graus Driven to the arms of OSX by Vista. Read my blog to find out how I've worked around bugs in Microsoft tools and frameworks.
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Wasn't Hitler from Austria ? :P
Christian Graus Driven to the arms of OSX by Vista. Read my blog to find out how I've worked around bugs in Microsoft tools and frameworks.
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Hitler wasn't an economist. He was a tyrant. (Finally! Something we all agree upon!)
Josh Davis
Always looking for blackjack. Or maybe White Frank. One of the two.Actually he was also a painter who lived in Liverpool between the wars. He lived with cousins, a nice couple called the Hitler's, and he adopted their name as Shicklgruber was a bit of a mouthful.
------------------------------------ I will never again mention that I was the poster of the One Millionth Lounge Post, nor that it was complete drivel. Dalek Dave
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Actually he was also a painter who lived in Liverpool between the wars. He lived with cousins, a nice couple called the Hitler's, and he adopted their name as Shicklgruber was a bit of a mouthful.
------------------------------------ I will never again mention that I was the poster of the One Millionth Lounge Post, nor that it was complete drivel. Dalek Dave
DD here you are wrong, Adolph was always called Hitler (its his name on his birth certificate) it was his father Alois that was a Schicklgruber (hitlers grandmothers name) and changed it to Hiedler(Hitler was an alternative spelling i believe) when his mother married Johann Georg Hiedler (well a few years afterwards) the use of Snicklgruber was used as an insult during the war. And whilst a part of Hitler family did live in Liverpool I am not certain Hitler ever visited them let alone lived there (a report of him living there pre ww1 to avoid the draft is regarded as fabrication) the family was the son of Hitlers half brother (oh and the stuff about hitler being a house painter is also bogus he was an artist (not a terriblely good one), but againn the idea of a ex house painter being the countries leader is a put down compaired to and "artist" painter
You cant outrun the world, but there is no harm in getting a head start
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DD here you are wrong, Adolph was always called Hitler (its his name on his birth certificate) it was his father Alois that was a Schicklgruber (hitlers grandmothers name) and changed it to Hiedler(Hitler was an alternative spelling i believe) when his mother married Johann Georg Hiedler (well a few years afterwards) the use of Snicklgruber was used as an insult during the war. And whilst a part of Hitler family did live in Liverpool I am not certain Hitler ever visited them let alone lived there (a report of him living there pre ww1 to avoid the draft is regarded as fabrication) the family was the son of Hitlers half brother (oh and the stuff about hitler being a house painter is also bogus he was an artist (not a terriblely good one), but againn the idea of a ex house painter being the countries leader is a put down compaired to and "artist" painter
You cant outrun the world, but there is no harm in getting a head start
Oh God. QI would just love me falling for that then.
------------------------------------ I will never again mention that I was the poster of the One Millionth Lounge Post, nor that it was complete drivel. Dalek Dave
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Oh God. QI would just love me falling for that then.
------------------------------------ I will never again mention that I was the poster of the One Millionth Lounge Post, nor that it was complete drivel. Dalek Dave
QI is not infalible they have even contridicted themselves on occasion
You cant outrun the world, but there is no harm in getting a head start
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http://www.lewrockwell.com/rockwell/hazlitt-bretton-woods147.html[^] Yes everyone, I visit this site quite often. Lew Rockwell is the founder and chairman of the Ludwig von Mises Institute in Auburn, Alabama, USA. The Mises Institute was, yes, you guessed it, an Austrian economist. In fact, he was THE Austrian economist of his day, and basically came up with the foundation of the freedom philosophy on the economics side. Anyway, I implore you to check out this article, at the very least the first paragraph. It's kind of a joke at the beginning, but not really. Peter Schiff, Lew Rockwell, Ron Paul, Tom Woods, etc all knew that the bubble was going to burst. The biggest problem with this theory of economics is the fact that you don't know WHEN the bubble is going to burst, but it just relates back to business cycle theory. What goes up must come down, it's a matter of physics, logic and common sense.
Josh Davis
Always looking for blackjack. Or maybe White Frank. One of the two.Quote: He began his editorials in 1934 with a major call for the reinstitution of the gold standard. He urged that the U.S. and Britain jointly agree to a fixed gold standard. He said that this action would "symbolize a return to international collaboration in a world that has been drifting steadily toward a more and more intense nationalism." And truly, if one thinks about it, a world that had heeded Hazlitt's advice might have avoided the incredible calamity of World War II, the 50 million dead, the communization of Europe, and the bankruptcy and horrors that followed. And why? Because the nationalism about which he warned in 1934 would have abated, and all governments would have sought diplomatic rather than murderous solutions. Just as the Gold Standard stopped World War I? The British, French, German, and Russian, Empires set aside their nationalism and sought a diplomatic solution? All systems of economics are Utopian. Political Expediency trumps 'Common Sense' every time. And you can stop touting Common Sense. Common Sense tells me that the Sun rises and sets.
Bob Emmett New Eugenicist - The weekly magazine for intelligent parenting. Published by the New World Order Press.
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Hitler wasn't an economist. He was a tyrant. (Finally! Something we all agree upon!)
Josh Davis
Always looking for blackjack. Or maybe White Frank. One of the two.*grin* I was just invoking Godwin's law early, before I went to bed.
Christian Graus Driven to the arms of OSX by Vista. Read my blog to find out how I've worked around bugs in Microsoft tools and frameworks.
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http://www.lewrockwell.com/rockwell/hazlitt-bretton-woods147.html[^] Yes everyone, I visit this site quite often. Lew Rockwell is the founder and chairman of the Ludwig von Mises Institute in Auburn, Alabama, USA. The Mises Institute was, yes, you guessed it, an Austrian economist. In fact, he was THE Austrian economist of his day, and basically came up with the foundation of the freedom philosophy on the economics side. Anyway, I implore you to check out this article, at the very least the first paragraph. It's kind of a joke at the beginning, but not really. Peter Schiff, Lew Rockwell, Ron Paul, Tom Woods, etc all knew that the bubble was going to burst. The biggest problem with this theory of economics is the fact that you don't know WHEN the bubble is going to burst, but it just relates back to business cycle theory. What goes up must come down, it's a matter of physics, logic and common sense.
Josh Davis
Always looking for blackjack. Or maybe White Frank. One of the two."The Austrians were right" is a phrase we hear often now, and for good reason. The housing bubble and bust were called by the Austrians and, essentially, no one else. That, and anyone with a pair of eyes. Bubbles burst, most anyone knows that. Most people just don't bother to think that theirs is going to.
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http://www.lewrockwell.com/rockwell/hazlitt-bretton-woods147.html[^] Yes everyone, I visit this site quite often. Lew Rockwell is the founder and chairman of the Ludwig von Mises Institute in Auburn, Alabama, USA. The Mises Institute was, yes, you guessed it, an Austrian economist. In fact, he was THE Austrian economist of his day, and basically came up with the foundation of the freedom philosophy on the economics side. Anyway, I implore you to check out this article, at the very least the first paragraph. It's kind of a joke at the beginning, but not really. Peter Schiff, Lew Rockwell, Ron Paul, Tom Woods, etc all knew that the bubble was going to burst. The biggest problem with this theory of economics is the fact that you don't know WHEN the bubble is going to burst, but it just relates back to business cycle theory. What goes up must come down, it's a matter of physics, logic and common sense.
Josh Davis
Always looking for blackjack. Or maybe White Frank. One of the two.I wonder what's so compelling about a gold standard? Why not a copper standard, or an iron standard. After all they are just commodities like gold. I can see good reasons for it not be a commodity like e.g. broad beans
Regards David R --------------------------------------------------------------- "Every program eventually becomes rococo, and then rubble." - Alan Perlis The only valid measurement of code quality: WTFs/minute.
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I wonder what's so compelling about a gold standard? Why not a copper standard, or an iron standard. After all they are just commodities like gold. I can see good reasons for it not be a commodity like e.g. broad beans
Regards David R --------------------------------------------------------------- "Every program eventually becomes rococo, and then rubble." - Alan Perlis The only valid measurement of code quality: WTFs/minute.
According to CSS, gold has magical powers. Or something.
Christian Graus Driven to the arms of OSX by Vista. Read my blog to find out how I've worked around bugs in Microsoft tools and frameworks.
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I wonder what's so compelling about a gold standard? Why not a copper standard, or an iron standard. After all they are just commodities like gold. I can see good reasons for it not be a commodity like e.g. broad beans
Regards David R --------------------------------------------------------------- "Every program eventually becomes rococo, and then rubble." - Alan Perlis The only valid measurement of code quality: WTFs/minute.
riced wrote:
I wonder what's so compelling about a gold standard? Why not a copper standard, or an iron standard. After all they are just commodities like gold.
I think that, to any Austrian, any metal would do wonders compared to paper, or beans as you suggested:
riced wrote:
I can see good reasons for it not be a commodity like e.g. broad beans
The thing is that with paper or beans (or grain or whatever), they are much easier to destroy AND create, therefore causing uncertainty in the market. If you were to use elemental metal (as opposed to steel, for example), you simply can not create it out of thin air. One must find it in the earth, or trade for it. And it can not be destroyed. It can be lost, but not destroyed. This is the principle. There's a difference in definition: capital is a buildup of wealth/value that varies compared to the total supply of capital in the system. Money is a buildup of wealth/value that cannot be destroyed.
Josh Davis
Always looking for blackjack. Or maybe White Frank. One of the two. -
Quote: He began his editorials in 1934 with a major call for the reinstitution of the gold standard. He urged that the U.S. and Britain jointly agree to a fixed gold standard. He said that this action would "symbolize a return to international collaboration in a world that has been drifting steadily toward a more and more intense nationalism." And truly, if one thinks about it, a world that had heeded Hazlitt's advice might have avoided the incredible calamity of World War II, the 50 million dead, the communization of Europe, and the bankruptcy and horrors that followed. And why? Because the nationalism about which he warned in 1934 would have abated, and all governments would have sought diplomatic rather than murderous solutions. Just as the Gold Standard stopped World War I? The British, French, German, and Russian, Empires set aside their nationalism and sought a diplomatic solution? All systems of economics are Utopian. Political Expediency trumps 'Common Sense' every time. And you can stop touting Common Sense. Common Sense tells me that the Sun rises and sets.
Bob Emmett New Eugenicist - The weekly magazine for intelligent parenting. Published by the New World Order Press.
Bob Emmett wrote:
And you can stop touting Common Sense. Common Sense tells me that the Sun rises and sets.
No, this is your sense. Common sense is now that the world revolves around the sun. lol I know what you're trying to say though. But I disagree.
Bob Emmett wrote:
The British, French, German, and Russian, Empires set aside their nationalism and sought a diplomatic solution?
One could argue that this is correct; yes.
Bob Emmett wrote:
All systems of economics are Utopian.
Understood, however, one must understand that when moving money from the productive sector to the nonproductive sector, the productive sector will tend to feel enslaved. This is why the only logical, and honestly humanitarian, system is capitalism.
Bob Emmett wrote:
Political Expediency trumps 'Common Sense' every time.
Totally agreed.
Josh Davis
Always looking for blackjack. Or maybe White Frank. One of the two. -
His question was whether or not he was from austria. What's that have to do with being socialist?
Josh Davis
Always looking for blackjack. Or maybe White Frank. One of the two.josda1000 wrote:
What's that have to do with being socialist?
I was just pointing that out to him, since CG is such a devout socialist.
Invisible Empire: A New World Order Defined (High Quality 2:14:01)[^] Watch the Fall of the Republic (High Quality 2:24:19)[^] The Truthbox[^]
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josda1000 wrote:
What's that have to do with being socialist?
I was just pointing that out to him, since CG is such a devout socialist.
Invisible Empire: A New World Order Defined (High Quality 2:14:01)[^] Watch the Fall of the Republic (High Quality 2:24:19)[^] The Truthbox[^]
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That point did not get across... but yeah.
Josh Davis
Always looking for blackjack. Or maybe White Frank. One of the two.I'm a socialist ? Really ? Do you really think that my viewpoints come down to one convenient, reductionist label ?
Christian Graus Driven to the arms of OSX by Vista. Read my blog to find out how I've worked around bugs in Microsoft tools and frameworks.
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josda1000 wrote:
What's that have to do with being socialist?
I was just pointing that out to him, since CG is such a devout socialist.
Invisible Empire: A New World Order Defined (High Quality 2:14:01)[^] Watch the Fall of the Republic (High Quality 2:24:19)[^] The Truthbox[^]
I know you're incapable of nuanced thought, or any thought that's not spoon fed to you, but, really, the more you make statements like this about me, the more ignorant you look. And you're really stretching the limits of how stupid one person can make themselves appear.
Christian Graus Driven to the arms of OSX by Vista. Read my blog to find out how I've worked around bugs in Microsoft tools and frameworks.