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Anyone who threatens DC will hear from Stad’s Death Squad Commandos . . .
No, I haven’t listened to the podcast yet, but will tomorrow.
At the top of the scroll on the main page it reads “DC McAllister’s Death”. That was not a good edit.
Regarding the AOC quote about losing jobs to automation. Don’t ask me how to look this up, but there was a very good article on Mises.org about this. You really do want to lose jobs to automation and cheaper globalized labor markets. The issue is how this happens. The policy of the government and the Federal Reserve in this situation has to be about everyone’s purchasing power increasing for everything. i.e. deflation. If we did this, labor and people would be favored over capital. This is exactly how everyone lived until the era of modern central banking starting in 1914. At that point we quit living like that but it never mattered a great deal until the Soviet Union fell and China and the whole world opened up. Then throw in robotics and computers. All of this stuff is deflationary. Better living through purchasing power. That is the way man is intended to live. That is what you call progress.
So why don’t we do that? I’d say it’s three reasons. First of all, and this is very hard to understand, a discretionary Central bank gives a superpower more geopolitical power. You can fund wars easier with inflation. A gigantic military Plus a discretionary central-bank with the world’s reserve currency is a true menace. Better us than them. Second the government can depreciate all of its debt with inflation. The actual math is that CPI inflation and any asset inflation, stock market, homes, whatever can be taxed and it sends more power to government. A deflationary system, better living through purchasing power, reduces government powers. Taxation dries up under this situation. The third thing is the financial system is dependent on never ending inflation, particularly in mortgage debt. But in general the whole thing is about excessive credit growth. But the simple reality is is not manageable anymore by the idiots in Washington DC.
People think we live in a democracy, but with a discretionary Fed you really don’t. it is just a valve to prevent tyranny.
In other words, things were a lot simpler during the Cold War before robots and computers. Everything has to change, and it’s only going to change the hard way.
Also I’m not that smart; I’m just obsessed with this stuff, so do your own homework.
I left something out of the above post. Everything the Federal Reserve and the government does accelerates the job loss to China and all of that Third World stuff. There is no reason for that. All of this big government and Fed activism favors Capital and globalized trade over our people. It’s outrageous. It makes people want to vote for Socialism.
This is why so much of that criticism of the Trump tariffs is so simplistic. There are many hedge fund guys that think he’s doing the right thing.