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"Economics" Explained
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Euro down on risk on days. Euro up on risk off days. Care to say anything about this shift Tyler ? Or would that upset this Euro hater hotel ?
Fuckin' fantastic. And fast, too!
....golf clap...
Euro PIIGS have erased their trade deficts
Eurozone is a net creditor
Eurozone has more gold then the US
nigga you cray.
Closet dollar bulls the lot of you. Fags
That might be but dat no divert nobody from da fact you straight-up cray, my nigga.
What part of all fiat will die, don't people understand?
I don't know. Ask the bitcoiners (the bankers' wet dream).
Bitcoin- Google Quantum Computer Wet Dream.
Very nice. Thank you.
hahaha best post of the year :'-)
Euro PIIGS have erased their trade deficts
Eurozone is a net creditor
Eurozone has more gold then the US
ECB expanded its balance sheet 11% since 2008. Fed and BOJ 70%
How many trillion$ did the FED send to Euro banks since 2009?
Oh, yeah, that... well... um...
Smoke and mirrors.
Replacement, Yes, I remeber the Brits trying to get to the bottom of three tranches of 5 trillion each going through the BoScotland bound for Europe...they never did find where and for what.
In an attempt at reverse-crediting, I want you to know I am flagrantly ripping this off to post on facebook...
Sorry, but Krugman is a fact of life, and is "happening" on an almost weekly basis (at least at NYT). He's in the wrong quarter of the diagram (should be in the SE one instead of SW, same as his beloved "macro" teory)
Maybe, but it's funnier the way it is.
That guy is such a f'head. Well done sir
+1
Lawby jeebus I LOL'd.
ZH is in the upper right corner a lot!
Enough sucking up...
ZH is in the upper right corner a lot!
Enough sucking up...
you sir are brilliant!!
Spitzer - Risk off days are generally when the fed is raising, risk on is ehen they are holding, ties out to me. Todays down is the story of the increased size of Euro QE
The correlation has existed since August
Euro PIIGS have erased their trade deficts
Eurozone is a net creditor
Eurozone has more gold then the US
ECB expanded its balance sheet 11% since 2008. Fed and BOJ 70%
Todays up is the story of Asset Management Fees being billed for the qtr. (Last AM fees of 2015 actually as the 12-31-15 balances will be harvested in January)
Now comes "tax harvesting" and "risk assessment" selling and such. Look out below---you've been warned!
Exquisite ! LOL...
And to think I had to pay for 6 credit hours (macro and micro econ.) in college and all I needed was this diagram.
Sadly, I came to realize too late that most of what I was "learning" in college was B.S. in the real world!
Go back and try some physics, maybe some biology. Either will renew your faith in the human potential to understand (or nearly) something of real importance.
As a bonus if you keep at it you eventually come to the realization that the entire human world is really little more than an elaborate illusion. Doesn't mean you win a prize or anything, but I do find that a proper perspective by itself can be comforting.
>Doesn't mean you win a prize or anything
Not even a participation trophy? I am sooo bummed.
Standard Disclaimer: Sorry, had to be said.
It's like the Hot/Crazy Matrix. Just less accurate and less funny.
https://www.youtube.com/watch?v=TjZIPClPR6I
remember this one?
https://www.youtube.com/watch?v=wz-PtEJEaqY&feature=player_embedded
I never saw that one before. That's great. I like it.
Thanks No Debt & Centerline, made my day :) I'm still laughing.
I needed this explained to me when I was in my twenties and thirties.
+100
That is hilarious -- even makes a Vulcan laugh. This is what they do at 33 Liberty St.
ouiji board is somewhere in the middle, right?
In other words, the Austrian School in the upper left quadrant and Keynesianism in the lower right.
Just to be clear, down-voter(s), Keynesianism is to economics what astology is to astronomy, economics being a subjective social science, not a mathematical statist one. And once the cryptocurrency revolution reaches maturity, you will see the state's roll, and the state itself, retreat to the vanishing point:
https://www.youtube.com/watch?v=qwy5kgwvzE4
Astronomy? LOL
Alchemy is to Goldsmithing would be better.
Meh, I'm stickin with my chicken entrails
do you serve those with a red or a white wine?
#hit happens constantly also
Yeah I'd put that in the upper-right in this case.
Which begs the question, "Do we have anything closer to the center of that chart?"
A: dice
edit: look everyone I have my own serial hater! Means I'm qualified to start writing posts on ZH! Hey Tyler my people will be talking to your people. Ciao baby!
Why is Yellen wearing the same outfit as the stroke speech?
Have you personally physically seen her since the speech? I hear UBL still makes speeches on aljazera online...they are obviously of him today, yes?
And this one:
http://evaluationtoolkit.org/illustrations/4/original/miracle_cartoon.jp...
a blatant rip-off from this 20+ years old one http://www.360pm.eu/wp-content/uploads/2014/07/Cartoon_Wunder.jpg
translated https://thenamiracleoccurs.files.wordpress.com/2012/05/miracle2.jpg
"Economics is extremely useful as a form of employment for economists." - John Kenneth Galbraith
"An economist is an expert who will know tomorrow why the things he predicted yesterday didn't happen today."
- Lawrence J. Peter
#notascience
JKG was a smart guy and funny as hell, too. I was watching some of his old documentaries a while back (youtube is your friend) and was amazed and delighted at how ahead of the game he was.
Example: "The world of finance hails the invention of the wheel over and over again, often in a slightly more unstable version."
My once humble and practical profession is living in the shadow of lawyers, politicians, and pharmaceutical companies. I should have listened to my crazy uncle and pursued turkey ranching.
A good analogy is astronomy vs. astrology. Astronomy makes extremely precise and correct predictions that have little bearing on Earthly affairs, while astrology makes inaccurate or uselessly vague predictions concerning stuff people actually care about.
http://unqualified-reservations.blogspot.com/2008/08/de-gustibus-non-com...
To bolster your point, astrology and economics deploy very similar methods to gain exactly the same results but for very different audiences. The former being housewives. The latter, presidents.
Frustrating isn't it?
Look at the S&P, DOW, and Nasdaq charts today. Almost 100% identical. A reflection on the future profits of their respective holdings? Somebody knows something.
I like how Katasonov explains the economics really should be study of political economy, and also calls what's currently refered to economists but economicsists to accentuate the point.
Finally!
Economic theory explained so that even a mere layman can use it to make a idiotic call just like the pros.
This is just in time for me too. The floating answer cube in my magic eight ball is water logged and I have to hold the damned thing upside down and squint up into the little answer window while holding the ball perfectly still. … Try that in this economically stressful environment.
~ DC
Economics actually developed inside warfare. Successful warfare was based upon backing up deceits with destruction. Therefore, successful finance became based on governments enforcing frauds by privately controlled banks. That makes sense when one considers the ways that human beings and civilization operate as entropic pumps of environmental energy flows. However, in order to make sense out the ways that governments are the biggest forms of organized crime, controlled by the best organized gangs of criminals, one has to go through series of intellectual revolutions, and profound paradigm shifts in the ways that one perceives the political economy.
Such changes in perception are profound, because of the degree to which one has to correct for the degree to which the biggest bullies' bullshit world view was built into the dominate natural languages, as well as incorporated into the dominate philosophy of science. Since the political economy is actually based upon ENFORCED FRAUDS, the social successfulness of that depends upon the vast majority of people developing attitudes that deliberately ignore the conservation of energy, while simultaneously deliberately misunderstanding the concept of entropy in the most absurdly backward ways.
"Microeconomics" only appears to describe reality relatively well, because of the degree to which it deliberately ignores the bigger picture. "Macroeconomics" miserably fails to describe reality due to that macroeconomics being political economy based upon ENFORCING FRAUDS, which is the overall context that all the actual microeconomics operates inside, but tends to be able to pretend does not exist.
Better understanding of microeconomics tends to never be applied, because it does not actually operate outside of the macroeconomics. Meanwhile, the actual realities regarding macroeconomics are based upon ENFORCING FRAUDS, which are socially successful to the degree to which that is not admitted to be the case.
I REPEAT the most important point:
Economics is actually a special case of warfare.
That includes microeconomics too, although that is least obvious there, and so, people are most able to be oblivious regarding that. It is theoretically possible to develop political science in general, within which is economics in particular, in ways which are most consistent with physical science. However, doing that runs into head-on collisions with the history of successful warfare based on deceits and treacheries, have made successful finance based upon enforcing frauds.
The illustrative chart above, while cute, and correct, also illustrates the deeper problems with respect to false fundamental dichotomies, and the related bogus "solutions" to problems based upon impossible ideals, which have their mechanisms backwards. The only things that exist are the dynamic equilibria between different systems of organized lies operating robberies. Those are the basic ways that human beings and civilization must necessarily operate as entropic pumps of environmental energy flows. However, the long history of successful war based on deceits, morphing to become successful finance based upon enforcing frauds, has resulted in society being almost totally dominated by bullshit, including that the vast majority of people misunderstand time and space in backward ways, which includes that they misunderstand entropy in backward ways.
The field of economics is especially dominated by the biggest bullies' bullshit, and therefore, particularly well-developed forms of Wonderland Matrix Bizarro Worlds, where everything appears to be absurdly backwards. Hence, theories which describe reality well are not applied, while theories which do not describe reality well are applied. To appreciate the deeper reasons for how and why that is the case is possible. However, it requires recognizing that ALL private property was based upon backing up claims with coercions, and therefore, ALL money is measurement backed by murder. Economics should be understood within its environmental ecology. However, doing that requires one admit and address the ways that the debt controls are backed by the death controls, while, the social successfulness of the history of doing that was based upon misrepresenting those basic facts in the most absurdly backward ways possible.
The most fundamental concepts of economics are bullshit-based. Human beings NEVER "produce" anything. They only transform energy, in ways which increase entropy. However, human beings deliberately ignore and misunderstand that as much as possible, because doing so most benefits the biggest bullies, currently the banksters, who are thereby able to operate symbolic robberies through their frauds, while the successfulness of those frauds are based upon governments enforcing those frauds.
ENFORCING FRAUDS DOES NOT VIOLATE ANY LAWS OF NATURE. RATHER, NATURAL SELECTION PRESSURES DROVE HUMAN ARTIFICIAL SELECTION SYSTEMS TO BECOME BASED ON ENFORCING FRAUDS.
That is why a chart like the one featured in the article above can point out its macabre sense of humour regarding how "economics" manifests as ABSURDLY BACKWARDS, but does not give any indications regarding how and why that is the case. Indeed, most of the content published on Zero Hedge points out similar anomalies, but usually without going through sufficiently profound paradigm shifts in order to explain how and why those apparent anomalies exist, and are becoming more blatant.
From Marijuana:
human beings and civilization must necessarily operate as entropic pumps of environmental energy flows.
Another way to state this is: Earth + Labor + Capitol = Goods/services
Goods and service then fetch prices as money to then pay labor, in what should be Say's circular flow but is not. Finance siphons away rents.
Earth provides energy and minerals and air for free as a gift.
Machines are fashioned by man to use stored past energy to then displace manpower as useful horsepower:
then
Energy + Minerals +Labor + Capital = goods and services.
Enforcement of frauds is generally due to rent seeking:
Enclosure of land short circuits the economic equation, and hence goods and services cannot be generated from land's gifts.
Enclosure of land allows prices to be driven up to then take rents, as a form of monopoly.
Money then flows from rentier to parasitize government, to then change law to then allow rents to continue.
Capital allows labor and materials to come together and produce goods/service. Money divides down at moment of transaction to then allow goods exchange.
Money also serves as demand in advance of goods production.
Capital is not disaggregated by type (on purpose), where a type will perform the advance function, a type will provide the savings funtion, a type will provide the exchange function.
In other words, the enforced fraud will not allow economics to become scientific because the fraud depends on rents.
A non fraud system would tax away rents, or not allow them to form in the first place.
Part of the paradigm shift is to get people to realize that ALL MONEY IS LAW. Those who say otherwise are only perpetuating myth and allowing fraud to continue.
There were many attempts at building non fraud systems in the past, and were usually usurped by liars and rentiers out of finance sector.
This sector is where the heart of the beast is.
Also, when one realizes that all economics is the transformation of earth to goods i.e. entropic flow, then this notion of "growth" takes on new significance as a whopper of a lie.
This lie is important to mask the nature of private bank credit as money, which has usury as a base funtion.
E.G. the oft repeated phrase, "Make your money grow." which is of course impossible, because money is only numbers, it is sterile and doesn't reproduce.
The hypnosis is deep.
MEFO - Brilliant stuff 'bro, as per usual. Although I must admit to preferring Rad's version when I am stoned.
MEFOBILLS, I agree with your statements:
Rock On Rad !
http://www.amazon.com/The-Corruption-Economics-Georgist-Paradigm/dp/0856...
http://www.politicaleconomy.org/gaffney.htm
http://www.amazon.com/Mason-Gaffney-Reader-Solving-Unsolvable/dp/0974184...
so, with this precise problem, how about the solution?
or at least a solution?
It seems like half of what I studied was bs/diversion and the other half was interestingly useless.
I think the main value to studying economics is gaining analytical skills in learning how everything connects.
There is value to learning the lies too. It helps understand the people who spread them.
"There is value to learning the lies too."
Important observation, there.
So you want functional economics which describes well and happens often.
Try this on for size:
http://michaelekelley.com/2015/03/02/why-another-recession-is-coming/
in English!
Half the lies they taught me in school weren't even true.
Jesus H Christopher this puts Steve Keen's work and complexity modeling in the upper right quadrant Too bad for the.....