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Thread: Exclusive: Jobs 'Saved or Created' in Congressional Districts That Don't Exist

  1. #311
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    Re: Exclusive: Jobs 'Saved or Created' in Congressional Districts That Don't Exist

    Quote Originally Posted by drz-400 View Post
    So basically, because the dollar is the currency most international trade is based around, the dollar to keeps its value despite a large debt.

    Is this correct?

    I would agree if this is your point. The reason the US has remained the top contender in the international economy is not solely based on what it produces, but because it has been the center hub for international trade.
    You're almost there.

    The dollar has maintained its artificial value for two major reasons:

    1) Oil transactions are done in dollars even when the US is entirely not involved in the actual deal. The buyer has to go buy dollars artificially boosting their prices to pay for the oil which then the seller usually invests somewhere else but does not convert. As oil deals outside of the US are in the trillions of dollars, the artificial boost to the dollar's value is immense.

    2) With so many reserves consisting of dollars, central governments are afraid of a significant decline in dollar value as it would punch gaping holes in their balance sheets. Thus they enact policies either to keep the dollar up or their currencies lower. Again, nothing to do with transactions with the US. Some banks have wised up to this fact within the past decade and actually have gone about reallocation of their serves into a larger, more diverse basket.

    Note: both of these are entirely artificial and in no way represent real economic transactions.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

  2. #312
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    Re: Exclusive: Jobs 'Saved or Created' in Congressional Districts That Don't Exist

    Ok, that makes sense. You basically took what I said and said it in a more clear and less general manner.

    This may be getting off topic, but here's another question of mine:

    The U.S. dollar seems to keep this arificial value because of its large use in international trade (oil as you said) and its large use in foriegn reserves as you also have said.

    Could this be consistant with the ability of certain products to maintain arificially high prices because of a monopoly or oligoarchy in the market? To me this is somewhat consistant with other places in the economy with imperfect competition.

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    Re: Exclusive: Jobs 'Saved or Created' in Congressional Districts That Don't Exist

    Quote Originally Posted by drz-400 View Post
    Could this be consistant with the ability of certain products to maintain arificially high prices because of a monopoly or oligoarchy in the market?
    Yeah, for the most part. But remember that some products maintain artificial prices due to inertia. At this point with virtualization on Linux and Macs, you can do virtually everything you need to do to run a business that you would do on Windows. But do people switch? No. Inertia.

    To me this is somewhat consistant with other places in the economy with imperfect competition.
    Well, the problem with capitalist theory is we assume people are rational and informed. Imperfect competition will occur because people aren't rational nor informed.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: Exclusive: Jobs 'Saved or Created' in Congressional Districts That Don't Exist

    Quote Originally Posted by obvious Child View Post
    Well, the problem with capitalist theory is we assume people are rational and informed. Imperfect competition will occur because people aren't rational nor informed.
    I hate to break up this interventionist love-fest, but you don't need prefect competition for capitalism to succeed.

    Who shall ascend the hill of the Lord? And who shall stand in his holy place? He who has clean hands and a pure heart, who does not lift up his soul to what is false, and does not swear deceitfully. Psalm 24
    "True law is right reason in agreement with nature . . . Whoever is disobedient is fleeing from himself and denying his human nature [and] will suffer the worst penalties . . ." - Cicero

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    Re: Exclusive: Jobs 'Saved or Created' in Congressional Districts That Don't Exist

    Quote Originally Posted by phattonez View Post
    I hate to break up this interventionist love-fest, but you don't need prefect competition for capitalism to succeed.
    I never argued otherwise. Imperfect competition is better then no competition. But you still need intervention to have imperfect competition. The idea we can have a no intervention free market that survives for more then a few seconds is asinine.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: Exclusive: Jobs 'Saved or Created' in Congressional Districts That Don't Exist

    Quote Originally Posted by obvious Child View Post
    But you still need intervention to have imperfect competition.
    Aside from police, military, and courts, proof?

    Who shall ascend the hill of the Lord? And who shall stand in his holy place? He who has clean hands and a pure heart, who does not lift up his soul to what is false, and does not swear deceitfully. Psalm 24
    "True law is right reason in agreement with nature . . . Whoever is disobedient is fleeing from himself and denying his human nature [and] will suffer the worst penalties . . ." - Cicero

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    Re: Exclusive: Jobs 'Saved or Created' in Congressional Districts That Don't Exist

    Quote Originally Posted by phattonez View Post
    Aside from police, military, and courts, proof?
    IDK, Glass Steagall
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Exclusive: Jobs 'Saved or Created' in Congressional Districts That Don't Exist

    Quote Originally Posted by Goldenboy219 View Post
    IDK, Glass Steagall
    Adherence to Basel I and II?
    Accurate and honest accounting?
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: Exclusive: Jobs 'Saved or Created' in Congressional Districts That Don't Exist

    Quote Originally Posted by obvious Child View Post
    Adherence to Basel I and II?
    Accurate and honest accounting?
    I raise you unemployment insurance!
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Exclusive: Jobs 'Saved or Created' in Congressional Districts That Don't Exist

    Quote Originally Posted by Goldenboy219 View Post
    I raise you unemployment insurance!
    I double you with a properly functional and staffed SEC!
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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