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Topic: Economic Devastation - page 30. (Read 504811 times)
There is no public property
Who owns the atmosphere we breathe.
An ongoing court case centering on encryption has thrown light upon the total incompetence
of those in power. And this is not just about the USA and its legal system, it calls into
question the fitness for purpose of every government currently in place.
First, understand that without privacy, there can be no private property...
of those in power. And this is not just about the USA and its legal system, it calls into
question the fitness for purpose of every government currently in place.
First, understand that without privacy, there can be no private property...
Now you understand why MA says we may descend into a 600 year Dark Age, if we don't find some way to overthrow the current political structure.
You could argue that anarchy, in the without rulers sense, would be good, but at the same time it would hold back technological progress.
The solution is to minimize the size of government, no matter what form politics takes.
I believe the key to doing that lies in a technological solution that will empower the Knowledge Age. The government can't muck with taxing microtransactions, for then they would tax everyone, not just the middle class. The current political structure is sustained by stealing from the middle class to subsidize the unproductive class, and pile on debt since real estate is the primary driver of the economy (and incomes). We need to make high tech work the primary driver of the economy and end the fixed capital investment Industrial Age. The person who invents this technology will be a $100 billionaire and eclipse Bill Gates et al.
Read my latest posts in the Economic Devastation thread.
The coming Knowledge Age will likely also be an age of righteousness.
[...]
[...]
Your error is your continued insistence to lay the limitations of humanity on the doorstep of religion when in actual fact religion is a critical and perhaps primary mechanism for overcoming these limitations.
Since the religion of government and socialism will have failed us, I suspect the new religion will be one of rewarding digital intellectual property rights despite the fact that everything digital can be freely copied, because in the Knowledge Age the Theory of the Firm breaks down and the individual relies on the income from his own production. Yet the Knowledge Age is all about sharing.
The new righteousness is about individual reputation in the new culture of sharing to banish defectors who would destroy the economic paradigm of the new age.
Religions are borne out of necessity.
This directly impacts for example what should be the correct designs for file sharing paradigms (why I have stated that MaidSafe, Storj, Sia, etc are all flawed because they are designed for stealing not respecting producers).
P.S. Feel free to quote me to the other thread. I can't keep up reading and posting in both threads.
The young, indoctrinated thieves of Socialism are burning down the society right here in our own block chain arena.
The coming Knowledge Age will likely also be an age of righteousness.
[...]
[...]
Your error is your continued insistence to lay the limitations of humanity on the doorstep of religion when in actual fact religion is a critical and perhaps primary mechanism for overcoming these limitations.
Since the religion of government and socialism will have failed us, I suspect the new religion will be one of rewarding digital intellectual property rights despite the fact that everything digital can be freely copied, because in the Knowledge Age the Theory of the Firm breaks down and the individual relies on the income from his own production. Yet the Knowledge Age is all about sharing.
The new righteousness is about individual reputation in the new culture of sharing to banish defectors who would destroy the economic paradigm of the new age.
Religions are borne out of necessity.
This directly impacts for example what should be the correct designs for file sharing paradigms (why I have stated that MaidSafe, Storj, Sia, etc are all flawed because they are designed for stealing not respecting producers).
P.S. Feel free to quote me to the other thread. I can't keep up reading and posting in both threads.
Join the stock market boys... the Economy will be quadruple by 2030. There will be no Economic failure.
You are probably correct about Argentina because ingrained culture doesn't die quickly. But one factor is the internet and the spread of information. Perhaps there is an educated core in Argentina that has seen the light. Nevertheless the privatization President only won by a slim margin. So you are probably correct about the cyclical aspect will remain. Thanks for that clarification.
...
I commented on the FBI vs. Apple (iPhone) encryption matter elsewhere a couple of days ago. It pains me to see that NONE of the R-Team guys stood up for Apple at the debate Thursday evening.
Of course Apple is correct. Building a back door will not only weaken Apple's OS, but would FOR SURE be copied and used by all manner of LE in any dumb investigation they feel like. That software would make it to CHINA and RUSSIA too, FBI assurances (hah!) notwithstanding.
Strong Encryption ought to be considered a fundamental right IMO. That would also fit into your ideas of a Knowledge Age.
I commented on the FBI vs. Apple (iPhone) encryption matter elsewhere a couple of days ago. It pains me to see that NONE of the R-Team guys stood up for Apple at the debate Thursday evening.
Of course Apple is correct. Building a back door will not only weaken Apple's OS, but would FOR SURE be copied and used by all manner of LE in any dumb investigation they feel like. That software would make it to CHINA and RUSSIA too, FBI assurances (hah!) notwithstanding.
Strong Encryption ought to be considered a fundamental right IMO. That would also fit into your ideas of a Knowledge Age.
...
TPTB
I would not put all of your eggs into Argentina. The politics of the place are very cyclical (Armstrong would have a field day studying that place, so much material...). They had, not really long ago (about two economic downturns) a pretty conservative (though corrupt) president (Menem), who a lot of the world thought would change the place (for the better). He did not.
Argentines will usually vote for whomever promises the most S for the FSA!
Re Italy, well you're onto something there. They are very creative, they (generalizing) love education & languages. They are world leaders (maybe THE world leaders) in various forms of the fashion industry. Who designs sexier sports cars than Italy? I do not know the state of IT & software engineering in Italy, but Italy is a country worth putting on your "Short List" of places to live and thrive. Um, if they can keep out the Muslim & African Hordes...
Just because there is a lot of Italian blood in Argentina does not mean that "translates well" in important matters like economic & political freedom and creativity.
There is a reason for all of the Argentine jokes, even told by Peruvians...
Q: What is the biggest dollar value of anything known to mankind?
A: The difference between what an Argentine thinks he is worth vs. what anyone else thinks he's worth...
^--- But, that's being mean. Argentina IS full of well-educated people and much of it is very nice & civilized. There is also a lot of crime and lots of con men there.
TPTB
I would not put all of your eggs into Argentina. The politics of the place are very cyclical (Armstrong would have a field day studying that place, so much material...). They had, not really long ago (about two economic downturns) a pretty conservative (though corrupt) president (Menem), who a lot of the world thought would change the place (for the better). He did not.
Argentines will usually vote for whomever promises the most S for the FSA!
Re Italy, well you're onto something there. They are very creative, they (generalizing) love education & languages. They are world leaders (maybe THE world leaders) in various forms of the fashion industry. Who designs sexier sports cars than Italy? I do not know the state of IT & software engineering in Italy, but Italy is a country worth putting on your "Short List" of places to live and thrive. Um, if they can keep out the Muslim & African Hordes...
Just because there is a lot of Italian blood in Argentina does not mean that "translates well" in important matters like economic & political freedom and creativity.
There is a reason for all of the Argentine jokes, even told by Peruvians...
Q: What is the biggest dollar value of anything known to mankind?
A: The difference between what an Argentine thinks he is worth vs. what anyone else thinks he's worth...
^--- But, that's being mean. Argentina IS full of well-educated people and much of it is very nice & civilized. There is also a lot of crime and lots of con men there.
Trump endorses NSA and is againt Apple's petition to protect encryption. Now he joins with Christie who was staunchly pro-NSA in the prior debates:
https://www.armstrongeconomics.com/international-news/north_america/2016-u-s-presidential-election/christie-endorses-trump-why-the-shock/
Trump will destroy our privacy. Armstrong is incorrect to assume the elite don't like Trump. They love Trump for he will start WW3 and fuck us all with NSA totalitarianism. Either that, or he will alienate so many voters so Sanders or Clinton wins. The USA is fucked in any case.
OROBTC, Argentina just elected a privatization President. I am getting even more interested in Argentina but the southern hemisphere that would be free of the dreaded Chagas infection (although keep in mind the coming Mini Ice Age 2020 forward, which should make central Argentina much cooler ... but perhaps either much more arid or too much rainful, mudslides, etc). I had spoken to a real estate broker in Argentina in 2015 and he said if the privatization President won, then the business sector (conservatives, libertarians) in Argentina would take over and thrive.
Peru seems to be perhaps behind the curve (what do you expect from these highly indigenous demographics countries formerly ignorant natives who are mesmerized by mirrors ... they are behind the curve of understanding these matters ...). Morales @ Bolivia was just (barely) denied an exception from term limits.
I agree Latin America is inherently more socialist (Ecuador! Venezuela!), but they don't have an age 60+ baby boom generation that is vested in government, thus they perhaps can make the shift as they learn from their naive mistakes.
China's problem is that the love of strict governance is deeply cultural. Also China destroyed their youthful demographics with the one-child policy, so they have an aging society that will vote for BIG government over the coming decades. China is trying to bully all the other countries in the South China Sea for the natural gas and other fuels that may be under the sea bed. China will mature into a consumer economy and consume a lot from the rest of the world (and become net debtor like the USA was), thus the largest growth will be the smaller countries that supply the innovation in the Knowledge Age. Investing in China will be very difficult any way, because we are not Chinese. China has a walled off economy, even for example they prefer to make their own internet (social media) sites than use the ones that are popular in the west. China doesn't understand how to be an integral player in the information age. They want to control the information age and dominate it. Sorry they will lose.
So what I am saying is that if you want to invest low and sell high, prepare to invest into South America, Southern Europe after the coming implosion 2017 - 2024. The Italians will surely be very creative in the Knowledge Age (also Argentina is significantly populated by Italians).
The Philippines has also bozo candidates for the 2016 Presidential election, except for Davao City mayor Duturte. If he is elected, he will surely eliminate corruption and crime nationwide as he did in Davao City, but the first 6 months will be (in his own words in the recent televised debate) "very bloody" and tumultuous.
Trump is a reflection of the insolubility of the USA's divide between true Libertarians/conservatives and the rest of the population. The USA must break apart in order to appease this insoluble philosophical divide. Melting pot no more. This is essentially what Trump's reading of the "snake" represents politically and economically.
Peru seems to be perhaps behind the curve (what do you expect from these highly indigenous demographics countries formerly ignorant natives who are mesmerized by mirrors ... they are behind the curve of understanding these matters ...). Morales @ Bolivia was just (barely) denied an exception from term limits.
I agree Latin America is inherently more socialist (Ecuador! Venezuela!), but they don't have an age 60+ baby boom generation that is vested in government, thus they perhaps can make the shift as they learn from their naive mistakes.
China's problem is that the love of strict governance is deeply cultural. Also China destroyed their youthful demographics with the one-child policy, so they have an aging society that will vote for BIG government over the coming decades. China is trying to bully all the other countries in the South China Sea for the natural gas and other fuels that may be under the sea bed. China will mature into a consumer economy and consume a lot from the rest of the world (and become net debtor like the USA was), thus the largest growth will be the smaller countries that supply the innovation in the Knowledge Age. Investing in China will be very difficult any way, because we are not Chinese. China has a walled off economy, even for example they prefer to make their own internet (social media) sites than use the ones that are popular in the west. China doesn't understand how to be an integral player in the information age. They want to control the information age and dominate it. Sorry they will lose.
So what I am saying is that if you want to invest low and sell high, prepare to invest into South America, Southern Europe after the coming implosion 2017 - 2024. The Italians will surely be very creative in the Knowledge Age (also Argentina is significantly populated by Italians).
The Philippines has also bozo candidates for the 2016 Presidential election, except for Davao City mayor Duturte. If he is elected, he will surely eliminate corruption and crime nationwide as he did in Davao City, but the first 6 months will be (in his own words in the recent televised debate) "very bloody" and tumultuous.
Trump is a reflection of the insolubility of the USA's divide between true Libertarians/conservatives and the rest of the population. The USA must break apart in order to appease this insoluble philosophical divide. Melting pot no more. This is essentially what Trump's reading of the "snake" represents politically and economically.
...
Wow, I dunno TPTB re those countries (Mexico, Brazil Colombia, etc.) becoming leaders in The Knowledge Age.
I certainly do not see that AT ALL in Peru. Peru has a presidential campaign on right now, and most of them running are clowns even worse than what we are seeing in the USA. Worse that the USA? Well, here's us:
* * *
And, yep, all indicators are that the Peruvian electorate is going to vote again for who promises the most to the FSA ...
Latin America may not have a religious belief in government, but they sure do have a tendency to vote for COLLECTIVISTS at a disturbingly high rate... And almost all are extremely corrupt...
Wow, I dunno TPTB re those countries (Mexico, Brazil Colombia, etc.) becoming leaders in The Knowledge Age.
I certainly do not see that AT ALL in Peru. Peru has a presidential campaign on right now, and most of them running are clowns even worse than what we are seeing in the USA. Worse that the USA? Well, here's us:
* * *
And, yep, all indicators are that the Peruvian electorate is going to vote again for who promises the most to the FSA ...
Latin America may not have a religious belief in government, but they sure do have a tendency to vote for COLLECTIVISTS at a disturbingly high rate... And almost all are extremely corrupt...
Why due to a lack of religious belief in government Mexico, Italy, Brazil, France, Spain, Colombia, S. Africa, and Argentina will be leaders in the Knowledge Age that I predict is developing:
Note that China's trust in business is rising very fast, but China is retarded by its religious belief in the collective. Do not bet big on the future of China, as most of the growth will occur outside of China from here forward.
Quote from: https://www.armstrongeconomics.com/world-news/survey-confirms-people-trust-business-more-than-government/
Note that China's trust in business is rising very fast, but China is retarded by its religious belief in the collective. Do not bet big on the future of China, as most of the growth will occur outside of China from here forward.
Government and socialism is a religion too, but it also has failure modes:
https://www.armstrongeconomics.com/international-news/north_america/2016-u-s-presidential-election/the-socialist-lie-that-we-have-had-always-a-growth-economy-since-roosevelt/
Atheism seems to be an erroneous attempt to declare that the humanism of the individual and an absolute truth of logic exists in a vacuum.
https://www.armstrongeconomics.com/international-news/north_america/2016-u-s-presidential-election/the-socialist-lie-that-we-have-had-always-a-growth-economy-since-roosevelt/
Atheism seems to be an erroneous attempt to declare that the humanism of the individual and an absolute truth of logic exists in a vacuum.
I think it is really crucial to note that aminorex and I are not debating whether some are better leaders and organizers than others, but rather whether time preference can be predicted perfectly (i.e. without friction a.k.a. with a priori omniscience).
So I am not envisioning a world where every person is their own boss. No. I am envisioning a world where leaders have to weigh the cost of time into their time preference decisions.
I am talking about reality. Aminorex is talking about delusions (e.g. Communism) where something (e.g. diversity) that isn't free of cost is assumed to be free of cost.
One thing Jason Hommel taught me is you can't give away for free that which is not free.
So I am not envisioning a world where every person is their own boss. No. I am envisioning a world where leaders have to weigh the cost of time into their time preference decisions.
I am talking about reality. Aminorex is talking about delusions (e.g. Communism) where something (e.g. diversity) that isn't free of cost is assumed to be free of cost.
One thing Jason Hommel taught me is you can't give away for free that which is not free.
Religion isnt about force, its on a different tangent of belief. Apparently its a common flaw of humanity that we do believe in something greater then ourselves. Athiest continue with this but look for more logical requirements via science maybe or some go to more exotic religions or worship mother earth and take up protecting the earth as their greater good as there is no doubt that natural system far outweighs any individual where as a 'virtual god' requires pure belief by most peoples reasoning.
Im not sure its about IQ, I'd say its choice and preference about which does most good for society but also the indivual who requires this component in their life for some kind of balance. Mindless anarchists dedicated to nothing above themselves are surprisingly rare, I'd say hedonists are more probable
Im not sure its about IQ, I'd say its choice and preference about which does most good for society but also the indivual who requires this component in their life for some kind of balance. Mindless anarchists dedicated to nothing above themselves are surprisingly rare, I'd say hedonists are more probable
For those who have found this thread interesting.I have started another thread in the Politics and Society section titled
Athiesm is Poison
Athiesm is Poison
My first post over there:
Mormons may also have some immunity the detrimental effect IQ on of fertility. In the general population increasing income (highly correlated with IQ) is associated with both declining fertility and declining religious commitment. In Mormons the reverse is true. Mormon fertility is positively correlated with income and Mormons with higher levels of formal education tend to be more religiously committed.
On multiple religious measures Mormons stand out for having exceptionally high levels of religious commitment. More than nine-in-ten Mormons report a belief in God and that the Bible is the word of God. Mormons are also very observant in their religious practices with more than eight-in-ten praying daily. Mormons strongly support a strict interpretation of their faith and the preservation of traditional beliefs and practices.
Are these demographic differences actually due to the Mormon religion? How can we be confident these are not just population level differences that happen to correlate with religion? To better answer that lets examine the Jews.
On multiple religious measures Mormons stand out for having exceptionally high levels of religious commitment. More than nine-in-ten Mormons report a belief in God and that the Bible is the word of God. Mormons are also very observant in their religious practices with more than eight-in-ten praying daily. Mormons strongly support a strict interpretation of their faith and the preservation of traditional beliefs and practices.
Are these demographic differences actually due to the Mormon religion? How can we be confident these are not just population level differences that happen to correlate with religion? To better answer that lets examine the Jews.
Didn't have a chance to digest it all yet, but what immediately pops out for me is that men may be (unconsciously) using religion to keep the women focus in child bearing which would not normally the case in a more liberated affluent society. I think you wrote before in the Economic Devastation thread about how society is a balance between preventing people from doing actions that opt-out and harm the collective well-being balanced against the society becoming too totalitarian and imploding.
So it seems religion forces all parties to subject their free-will such that the balance is maintained.
Religion also has failure modes though such as the Spanish Inquisition, although one might argue those are extreme cults that have not stabilized as the Jews apparently have over 1000s of years.
What high IQ people miss is apparently that God doesn't have to be a factual truth in order for religion to be an optimum strategy for society. Thus they aren't as high IQ as they think they are, haha.
For those who have found this thread interesting.I have started another thread in the Politics and Society section titled
Atheism is Poison
Atheism is Poison
Not the best source, they are always conspiracy minded.. Sometimes they have nice articles but over the years ive learned to take them with a grain of salt.
Alright, then take it step by step.
Which part you dont believe? That pension funds are used to give out loans and buy treasuries? Thats obvious.
Why do you think it matters if Lehman Brothers goes bankrupt? Why do we care? Sure some investors and depositors (mainly the asset management sector of the bank where they managed rich peoples money) gets wiped.
But that overall doesnt seems like a catastrophe, sure it hits a few rich people and they lose their wealth, but that is not exactly an ECONOMIC DEVASTATION?
The real shit happens, when they default on their obligations towards other asset managers, namely big pension funds.
So a bank that big with high credit rating probably took out huge chunks of loans from many pension funds equities, since they had big credit rating the PF just give out huge % loans from their equity. Once they collapse, they lose millions of people's savings.
All it takes is 1 major bank to collapse with their pension fund loans, and your grandpa will be on the streets begging for bread and water.
Its that easy to wipe out the entire pension system.
Next one in line: Deutsche Bank @ nice european pensions getting wiped out + Now the global treasury market is also on the verge of collapsing, so the other half of the pension system is also going to get wiped out.
The fantastic pensions of 2000-3000 euro that some wealthy EU contries enjoyed for the past years will soon become 10 euro + 1 bread+ 1 bottle of water pretty soon....
You will see many old folks begging on the streets with a cup, like in Greece.
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