Sebastien, this is a forum not a twitter account. Consider outlining your responses to a thread and composing a single summation, or if need be, identify which post(s) in particular you are responding to. You have an hour after you post a response to edit that response.
As to consciously choosing to smoke heavily for the rest of her life, Mr. Rand, when the doctor informed her that she was killing herself with the habit, quit cold-turkey in 1975. You may want to seek out a new favorite example, or revamp this one to be in better alignment with the available facts.
You are hostile, accusatory, insulting, off-topic, and treating this like your twitter account. I don’t think anyone is going to.
Truly it is saddening to get such a negative response from a highly esteemed community member.
Did you not see the attitude with which Doug Morris instigated my self-defensive behavior?
Imagine you were a child and built a structure out of blocks, and some other child just said
“No.”
And smashed it to pieces.
Would you not rationally resort to well-justified verbal self-defense?
I have lost all of my respect for you Eiuol. Clearly you do not understand the core of what it means to have rights protected in an online learning and discussion environment. Instead, you reproduce the same hostility that you just criticized by smashing my good experience on this forum to pieces.
Nice work.
You succeeded in alienating a fellow Objectivist from the Objectivist community.
If most of the people who receive the extra money burn it and/or grind it into powder and use it to make money-flavored ice cream, the printing will have very little effect and there will be very little inflation. Are there any cases like this in history?
As people who receive extra money spend it, this increases demand, which raises prices. As some prices go up, this increases some people’s costs, so they have to raise prices or bargain for higher pay. People are reacting to the market conditions they encounter. Even if they aren’t even aware of the expansion of the money supply, inflation happens.
Eiuol, read the first response Doug Morris left me, and tell me if the tone is appropriate for this forum.
“Yes”, “No” or “Maybe”, or “I don’t know” are going to be common answers.
“No” in this case simply means he disagrees.
The only option you have is to make your case or ignore and move on.
There are no judges here and there are no rescuers either.
One thing that may help would be if you said what could or should have been said for people do understand it better.
Easy Truth,
I respect your contribution to this dispute, and I appreciate it.
But the tone I got from my conversation with Doug Morris was not simple disagreement.
If I misjudged, then I am due to apologize for what would then constitute unwarranted insult.
However, if I was correct, then I will be satisfied with knowing that I was correct.
The point is that if I perceived initiated verbal aggressive behavior, I have a right to retaliate verbally without being insulted in turn by an esteemed community member.
Your argument with each other is a distraction. The point you are arguing about is the behaviour of people in particular, but my OP is about the overall situation averaged at a country level. Try to stick to the topic, please.
M4 isnt just $$ in cash - its all monetary instruments. If you look at ‘real estate’ (property) prices, they track GDP growth/ M4 growth rather well, demonstrating that the ‘value’ of property is largely fixed in ‘real’ terms by that ratio, at least in the UK.
As I see it the concept is rather simple. if GDP increases so there is more stuff created/purchased/used , and if no money is ‘printed’, then then prices must fall to accommodate the ‘purchase’ of the extra product. For money to represent ‘value’, then the money supply must expand to cover the increased GDP so each $ or £ can buy the same amount of stuff. When balanced there is no inflation as the value stays fixed.
Governments who operate the banking system’s supply of money try to manage the supply to keep a fixed inflationary pressure as its to their advantage. They do this by ‘printing’ more money than required by GDP growth. The result is an 8 fold decrease in ‘value’ (in the UK) of the currency since about 1984.
The key thing is that Value isn’t Price. Government inflation figures demonstrate this admirably where the ‘basket’ contains things that are getting cheaper, mostly due to technological reasons. But the real value of money is reflected in the more broad cost of living (including housing) and of doing business.