And we're back!
Started by Josquius, February 20, 2016, 07:46:34 AM
Total Members Voted: 97
Quote from: Admiral Yi on May 25, 2023, 08:02:52 PMQuote from: Josquius on May 25, 2023, 04:55:58 PMKeynsian stimulus doesn't mean "has a deficit.". It refers to government intervention to maintain and improve the economy. This can involve loaning money where need by but it can also involve running a surplus. Likewise nations can be completely non keynsian and have a surplus or be in debt - the latter being most common in the world. This is totally incorrect.
Quote from: Josquius on May 25, 2023, 04:55:58 PMKeynsian stimulus doesn't mean "has a deficit.". It refers to government intervention to maintain and improve the economy. This can involve loaning money where need by but it can also involve running a surplus. Likewise nations can be completely non keynsian and have a surplus or be in debt - the latter being most common in the world.
QuoteYes it has. I didn't say every time, I said time and again. Japan and the US are special cases, Japan because the Japanese people are voracious savers and are perfectly happy to park their money in postal savings accounts paying essentially zero interest. The US is a special case because of the (IMO irrational) belief that when things go to shit world wide the one safe place is the dollar.
Quote from: Josquius on May 26, 2023, 11:16:18 AMI'd be more concerned about The Independent's high rating.
QuoteThe Guardian I honestly don't think is that bad if you bear in mind the simple rules that1: They often let any random nutter write a silly opinion piece2: They're left wing and write from this POV.
QuoteEven Tories don't trust the Tory papers. On the other hand Labour voters are blind the the pretty obvious biases of the Guardian.
QuoteFrancis Scarr@francis_scarrI'm not quite sure where to start with this from Russian state TV's Olesya Loseva...She says the UK's strong backing for Ukraine could be part a plot by Rishi Sunak to bankrupt the country in revenge for the British Empire's exploitation of Indians
Quote from: Sheilbh on May 26, 2023, 11:30:16 AM]Yeah I agree I don't think its good or bad, but if you think it's the second most trustworthy news source after Channel 4 News () fair to say you're on the left. Its trust level should be similar to Tories for the Telegraph. I love the Guardian but it's got a side.I think there can be a tendency on the left to think that their view of the world is the truth, when it's not necessarily; I think equivalent tendency on the right is to think that their view of the world is actually shared by most people, when it's not necessarily.
Quote from: Josquius on May 26, 2023, 03:47:40 PMThe right wing media does frequently have serious issues with reality.
Quote from: Barrister on May 26, 2023, 04:04:46 PMQuote from: Josquius on May 26, 2023, 03:47:40 PMThe right wing media does frequently have serious issues with reality. OK, so I'm more talking about North American media but I think it extends to the UK too - I mean I am familiar with both the Telegraph and the Guardian.So first of all you have to separate out the difference between opinion and news. Opinion pieces are just that - opinion.There are definitely right-wing media sources that have issues "with reality" - but that goes for the left as well. I wouldn't trust anything coming out of Breitbart, for example - but I wouldn't trust anything coming out of Jacobin either.And even those cites - I wouldn't accuse them of simply fabricating their news, but that they will cherry-pick and ignore any "inconvenient" information.But when it comes to more reputable sources like the Telegraph/Guardian, or Wall Street Journal/New York Times - you can trust the reporting of any of them. It's just that the bias is going to creep in in deciding what stories are worth covering and which aren't. If you see a story in the WSJ that story is true - but why did they chose to cover it, and was it also picked up by the NYT.
Quote from: Josquius on May 26, 2023, 11:22:49 AMI'm not sure what part you're referring to here.That Keynsianism doesn't automatically mean debt? Your biasses are showing. Debt has nothing automatically to do with the concept of investing. Taking a loan is often the smartest way to fund invesment. But its not automatic and done properly it means a decrease in debt to gdp.In fact I seem to recall Keynes was quite against debt. Equilibrium was one of his buzz words.
QuoteThat most nations today aren't pursuing a policy of austerity? At a google I run into this saying 85% of people will be by September. https://www.oxfam.org/en/press-releases/85-worlds-population-will-live-grip-stringent-austerity-measures-next-yearArgue this is biased if you will but if you're going to do so then show proof that as you claimed the opposite is true.
QuoteI would equally say time and again it has been proven that obsessing over debt to GDP ratios and pursuing austerity is a mistake vs. investing in improving. Its true on a national and corporate level.You argue the best examples I mentioned are exceptions...Looking at a list of nations with high debt vs. low debt I note a lot more winners on the high debt list.
Quote from: Sheilbh on May 26, 2023, 12:36:08 PMTotally separate - but I'm still always torn between amused, alarmed and a little proud of Russian state TV going off about the UK. They had another "sink the little island" with nukes rant last night. But this might be my favourite (obvs - wrong on I think every point) QuoteFrancis Scarr@francis_scarrI'm not quite sure where to start with this from Russian state TV's Olesya Loseva...She says the UK's strong backing for Ukraine could be part a plot by Rishi Sunak to bankrupt the country in revenge for the British Empire's exploitation of Indianshttps://twitter.com/francis_scarr/status/1660950760031502337?s=20
Quote from: Admiral Yi on May 26, 2023, 06:39:36 PMOnce more unto the breach.Keynesian fiscal stimulus is a decision by the government to increase government spending financed by government borrowing. Keynes advocated fiscal stimulus when the economy was stuck in a recession. In this situation, there is usually a rise in private sector saving and unused resources in the economy. Therefore, if the government borrow and spend, they can help kickstart the economy and provide economic recovery. see more at Keynesian economicshttps://www.economicshelp.org/blog/1368/economics/keynesian-stimulus/.
QuoteHigh income countries have high debt/GDP because generally speaking they haven't defaulted a dozen times. Lenders are willing to lend to them because they think they will be repaid.
QuoteI can think of one time when it was "proven" that contractionary fiscal policy was the wrong choice, during the Great Depression.It has been "proven" that corporations should always reinvest retained earning and always borrow to finance more research and more expansion on the basis of an ideological argument, not on the basis of return on investment.
Quote from: Sheilbh on May 26, 2023, 11:30:16 AM
Quote"This is a Russian warship. I propose you lay down arms and surrender to avoid bloodshed & unnecessary victims. Otherwise, you'll be bombed."Zmiinyi defenders: "Russian warship, go fuck yourself."
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