tag:blogger.com,1999:blog-3758330678390419129.post5484351188581432291..comments2024-02-13T02:39:22.756-05:00Comments on EconomicPolicyJournal.com: National Review Goes on a Crazed Attack of Ron Paul Monetary EconomicsRobert Wenzelhttp://www.blogger.com/profile/14296920597416905488noreply@blogger.comBlogger28125tag:blogger.com,1999:blog-3758330678390419129.post-7968598568513740452012-07-29T15:02:29.213-04:002012-07-29T15:02:29.213-04:00I'm not sure what that has to do with anything...I'm not sure what that has to do with anything said here, Gene, but sure, whatever you say.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-68722045660470981742012-02-24T00:30:38.451-05:002012-02-24T00:30:38.451-05:00One interesting thing about Salvador Dali is that ...One interesting thing about Salvador Dali is that he would sell and/or create more copies of paintings than he claimed when selling them to collectors, thereby reducing their value. It sort of sounds familiar to readers of this blog and the subject at hand, right?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-70651674974704501342012-02-24T00:29:15.390-05:002012-02-24T00:29:15.390-05:00And some peoples completely change their economic ...And some peoples completely change their economic views to try and please the establishment! Benedict Callahan would know all about that!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-64795198040818348012012-02-21T18:58:27.840-05:002012-02-21T18:58:27.840-05:00So this is pretty much a Ron Paul circle jerk, hey...So this is pretty much a Ron Paul circle jerk, hey?gcallahhttps://www.blogger.com/profile/10065877215969589482noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-54136181336793314792012-02-21T18:56:32.587-05:002012-02-21T18:56:32.587-05:00"He ignores to mention this is the classic de..."He ignores to mention this is the classic definition of inflation."<br /><br />And some peoples ignores to write good English!gcallahhttps://www.blogger.com/profile/10065877215969589482noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-61727617263350192402012-02-21T16:11:53.470-05:002012-02-21T16:11:53.470-05:00All of this idiocy is predicated on the idea that ...All of this idiocy is predicated on the idea that decreasing prices are somehow evil, and that anything and everything that can be done to prevent prices from falling is good.<br /><br />The reason that stable prices in the 1920s were not a good signal, and were supposedly "masking" the printing of money by the Fed, is because a decreasing price level is NORMAL as efficiencies of Curt-https://www.blogger.com/profile/15378506296755879713noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-77963689933219646142012-02-21T12:17:27.929-05:002012-02-21T12:17:27.929-05:00Why bring Salvadore Dali into this? He could be ab...Why bring Salvadore Dali into this? He could be absurd. Perhaps he was ignorant. But he never stooped to the level of a snarling neocon butt-boy.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-16616021405931127842012-02-21T10:42:46.523-05:002012-02-21T10:42:46.523-05:00You're most likely right as it is obvious that...You're most likely right as it is obvious that Ramesh doesn't know his ass from a hole in the ground as it pertains to economics. He should just keep with the, "we must police the world" schtick and leave economics to someone a little more learned.Robhttps://www.blogger.com/profile/16961837048717934626noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-44502633918266660012012-02-21T10:39:54.257-05:002012-02-21T10:39:54.257-05:00Ramesh, why aren't you a leftist democrat? It...Ramesh, why aren't you a leftist democrat? It seems you share everything ideologically with them. Is it abortion? Or, wait, it's weed, isn't it? Or no, it's the homo's getting married isn't it? But wait, Obama hasn't done anything on those fronts, either. You're a strange breed over there at NR.Robhttps://www.blogger.com/profile/16961837048717934626noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-43043058326531474282012-02-20T18:29:10.371-05:002012-02-20T18:29:10.371-05:00"In his view, any expansion of the money supp..."In his view, any expansion of the money supply counts as inflation, whether or not prices rise."<br /><br />Inflation is the necessary result of expanding the supply of money through fiat. As Wenzel correctly observes, the fact that the price fluctuations can be delayed or obscured by other factors, e.g. productivity gains, does not undermine the axiom that printing money necessarily Henry Dennisonhttps://www.blogger.com/profile/04847248185761006286noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-19464595829468948532012-02-20T17:59:42.839-05:002012-02-20T17:59:42.839-05:00If you are going to point to Ron Paul's "...If you are going to point to Ron Paul's "paranoia" in your article, then you should have to deal with the blowback. Your general theme about RP is pretty interesting, considering the track record of RP's economic predictions compared to the keynesians you agree with. Here is one example of him calling the Housing Bubble years ahead of time, while those who you agree with were Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-17158667027830191332012-02-20T16:58:57.278-05:002012-02-20T16:58:57.278-05:001) Baloney Comrade. The first three chapters of AG...1) Baloney Comrade. The first three chapters of AGD cover all of your misconceptions. <br /><br />2) OMG you intellectual hag. On the one hand, you claim not to support a steady price level - which is good, because it's a really really fekking dumb idea - but deftly with the other hand you claim that a steady price level doesn't steal from savers. Well no, it doesn't, if the price David in Libertyhttp://www.dailypaul.com/blogs/davidinlibertynoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-7911565283401987102012-02-20T11:25:09.262-05:002012-02-20T11:25:09.262-05:00"1) I've read America's Great Depress..."1) I've read America's Great Depression."<br /><br />I don't think it's clear you have.<br /><br />"2) Whether or not monetary expansion to produce a steady 2 percent inflation rate can introduce distortions into the economy--something, by the way, I never deny--has nothing to do with whether Paul is correct to make the specific claims that I dispute (that even Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-90552762378890746582012-02-20T10:47:01.717-05:002012-02-20T10:47:01.717-05:00National review fans worship ww1 as a myan worship...National review fans worship ww1 as a myan worshipped human sacrifice, don't belittle the neo con religion.gabehttps://www.blogger.com/profile/18265135497422170600noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-19777764606436572082012-02-20T08:49:40.223-05:002012-02-20T08:49:40.223-05:00Bob, if he had spent Ponnuru indeed spent 2 weeks ...Bob, if he had spent Ponnuru indeed spent 2 weeks studying Austrian economics his piece would not have been half as disastrous. A 4 hour mp3 recording of a Rothbard lecture would have sufficed! But, I don't think that his idea ever involved him understanding AE. He is just a goon working to discredit an ideological opponent of the establishment. It's a practice that the modern iterations Anonymoushttps://www.blogger.com/profile/15486500138051100745noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-5772009775882167182012-02-20T02:12:46.281-05:002012-02-20T02:12:46.281-05:00"The problem with a steady price level is tha..."The problem with a steady price level is that such a price level is the result of three components: Money supply, the demand to hold cash and productivity. Thus, if the Ponnuru desire to achieve a steady 2% price level is to be achieved during a period of high productivity, it would require huge amounts of money printing and result in massive capital-consumption structure ditortions."Desolation Jonesnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-6001473550708119242012-02-19T23:40:21.155-05:002012-02-19T23:40:21.155-05:00Mr. Ponnuru was a history major at Princeton, but ...Mr. Ponnuru was a history major at Princeton, but presumably never covered monetary history and the catastrophic experiments with paper money in so many parts of the world, to numerous to recount here, except for one.<br /><br /> I just read an Elgin Groseclose account of his experience in Iran in the 1940's. Groseclose was the first financial editor of Fortune Magazine, and also served as a Dale Holmgrennoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-51164458327152782602012-02-19T22:31:59.462-05:002012-02-19T22:31:59.462-05:00RW, you're the best. I'd just like to add ...RW, you're the best. I'd just like to add that once I discovered capital theory and came to understand the disequilibriums that occur in the structure of production, attacks like Nununununu's (whatever that commie's name is) just roll off. <br /><br />Such concepts make his superficial pleading for price stability look absolutely ridiculous. He's an intellectual midget when David in Libertyhttp://www.dailypaul.com/blogs/davidinlibertynoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-33562537782114961652012-02-19T20:14:24.178-05:002012-02-19T20:14:24.178-05:00There are many "popular" political reaso...There are many "popular" political reasons to support central banking, from the conservative perspective of supporting order in the face of the demos desire for cheap credit for material ends. It often, when managed within reason, does generate popular support, witness the 20th Century.<br /><br />People do hate taxes, of course.<br /><br />Nevertheless, the central conservative point Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-48931183509195094102012-02-19T19:55:48.428-05:002012-02-19T19:55:48.428-05:00It's funny that Ron Paul is outing these so ca...It's funny that Ron Paul is outing these so called conservatives as nothing more than shills for the federal reserve. Robert you know that their real problem with Ron Paul is his foreign policy views because the ignorance on monetary matters is only eclipsed by Little Frummer Boy.<br /><br />It's hilarious to see this weekend warrior Ramesh show his absolute ignorance and that he doesn&#Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-91674375723334168022012-02-19T17:38:56.707-05:002012-02-19T17:38:56.707-05:00The federal government uses its monopoly over the ...<em>The federal government uses its monopoly over the currency to finance very little of its spending.</em><br /><br />Really?<br /><br />As Daniel Kuehn has so amply demonstrated, the first big post-Fed recession was the result of the government’s First World Slaughterfest boom followed by the post-slaughterfest bust. (Nothing in his article about a “free market” having a “structural” problem Bob Roddishttps://www.blogger.com/profile/17263804608074597937noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-28192901319839260002012-02-19T17:04:19.908-05:002012-02-19T17:04:19.908-05:00Complete destruction of Neo Con Review. Those clo...Complete destruction of Neo Con Review. Those clowns can't be taken seriously on anything, especially given the decades of racist comments WFB made while the people at the same magazine and others who view him as a hero are supposedly "outraged" over the RP newsletters.<br /><br />Great job exposing this clown as having the same econ mindset as Krugman and other far left morons.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-68017754905888740762012-02-19T16:29:13.696-05:002012-02-19T16:29:13.696-05:00Good reference, Bob, to the elephant. Due to publ...Good reference, Bob, to the elephant. Due to published stupidity such as Ponnuru's article, National Review is going the way of the cousin of the elephant, the mastodon.<br /><br />Breaks my heart to see and hear about the losses at the weakstream publications, such as the NYT and National Review.<br /><br />Good riddance to them.John G.https://www.blogger.com/profile/09127952173210718830noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-52606821778771176222012-02-19T15:02:06.494-05:002012-02-19T15:02:06.494-05:001) I've read America's Great Depression.
2...1) I've read America's Great Depression.<br />2) Whether or not monetary expansion to produce a steady 2 percent inflation rate can introduce distortions into the economy--something, by the way, I never deny--has nothing to do with whether Paul is correct to make the specific claims that I dispute (that even such a steady rate would amount to stealing from savers, etc.)<br />3) Your graphRamesh Ponnuruhttp://www.nationalreview.comnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-1622946885790183272012-02-19T14:33:16.220-05:002012-02-19T14:33:16.220-05:00Prices are effected by printing, desire to hold ca...Prices are effected by printing, desire to hold cash AND production? Too confusing for a Keynesian.Anonymousnoreply@blogger.com