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Meerkat

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About Meerkat

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  1. Meerkat

    Andorra?

    A nice place, lovely scenery. Been there. A serious contender for a place with friendly taxation regime combined with very high quality of life; knowing a local language would help a lot. Here's an English expat's assessment: https://andorraguides.com/living/what-it-is-like/
  2. Meerkat

    Is inequality growing?

    Except that in a free market the outcomes (and winners and losers) are determined by the consumer (not a central planning body or dice). Inequality has only increased since abandonment of sound money with central planners in charge. Not to say free markets solve everything, but it is a vast improvement over crony capitalism or outright socialism.
  3. More like Barclay's rewarding themselves by dropping the pain of collecting 5 quid a month to collect 4000 - the whole thing there must have some "nice" memory on top of plain math. I guess you can also imagine what chances the "lucky" mum has of ever getting a credit line of any sorts or, indeed, getting into any contract where credit checks need carrying out. Hardly anything to celebrate.
  4. Meerkat

    How the poor are fuelling the booming U.S. economy

    Mate, you are quite right at observing that the final descent into the current cesspit was embarked upon some 40 years ago, 40+ actually. I think what you are still to digest properly is that it was not libertarians or Austrians that put most of the western world on the slippery slope we are all rightly concerned about. In fact, you couldn't be further away from the truth. To call the system which is increasingly a mishmash of socialism and fascism as something fundamental is quite something. For starters, would you like to familiarise yourself with the concept of honest money? You know like gold. That naturally inhibits credit expansion and inflation. Last shackles that tied a certain government to a gold standard were abandoned 40+ years ago. It is no coincidence that the government controlled cartels of banks were able to embark globally on an unprecedented credit expansion and deficit spending spree that we are yet to see a finish of. 45 or so years later. It is also no coincidence that the well-being of the common man peaked exactly 45 years or so ago (specifically in the states). And it is, of course, exactly the purpose of the whole set-up to squeeze the wealth from unsuspecting "middle class" sheople. With the the help of the government that pretends to be protecting and working for the said class, bt actually does everything possible to fleece it to enrich certain corporates and increase its own dead weight on the society.
  5. Yes, morally repugnant and economically unsound. They will never go after the causes, but tackle all sorts of unintended consequences of idiotic policies to get the folk in an ever bigger quagmire.
  6. Meerkat

    Rates need to be at 5%

    The CBs did not exist 100y and some ago... and world got by just fine with the boom and bust cycles being generally both shallower and shorter in duration - as you rightly said... Also, if only the CBs were after smoothing of something - if anything, they are there to protect vested interests and generally act as the chieftain of state sponsored banking cartel...
  7. Meerkat

    Rates need to be at 5%

    Rates need to be where the actual demand and supply for loans/term deposits dictates them to be, not a body of central planners. Needless to say we are as far as possible from anything natural in this area and the eventual fall-out from this criminal dis-balance and resulting malinvestment will be magnitudes more ugly than it would be in any unfettered set-up.
  8. Meerkat

    John McDonnell

    If you "got" that the cartel has been created by the government (the CB), then you wouldn't be posing it as a free market problem. Do you understand that the fiat fractional reserve banking is not a market choice?
  9. Meerkat

    John McDonnell

    How nice. As I said, only a true humankind hater can say stuff like this. Some people maybe d1cks. To the extent this problem is subject to law, courts and prisons deal with it. Otherwise, the way to deal with d1cks proper a.k.a. sociopaths is not to create conditions in which they prosper, but make sure they find a better way to deliver something useful to the society. D1cks redistributing resources and controlling the most important government institution (fiat central bank) and perverting economic incentives of people is hardly a solution to the problem.
  10. Meerkat

    John McDonnell

    I'm not sure what is your message there and why would you want to invoke Smith, the very root of modern day libertarianism. That humans are imperfect and driven by want to better their own condition? Nobody is arguing that it is otherwise. Nobody is arguing that there is no place for state's monopoly in certain areas that cannot be sorted out by the market itself. The argument here is if a nanny/fascist/semi-socialist state extracting more than 50% from the economy thru taxation (and making middle class effectively pay 60-70% of their income in direct and indirect taxes) ,sustaining and encouraging monopolies of various sorts, penalising success and enforcing all sorts of dumb and cumbersome regulation is the way forward. As you seem to be a great fan of Smith and his prescience, let me quote some of his wisdom from "The Wealth of Nations": "The natural effort of every individual to better his own condition is so powerful, that it is alone, and without any assistance, not only capable of carrying on the society to wealth and prosperity, but of surmounting a hundred impertinent obstructions with which the folly of human laws too often encumbers its operations." "It is the highest impertinence and presumption, therefore, in kings and ministers, to pretend to watch over the economy of private people, and to restrain their expense, either by sumptuary laws, or by prohibiting the importation of foreign luxuries." "It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest. We address ourselves, not to their humanity, but to their self-love, and never talk to them of our own necessities, but of their advantages." "People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices. It is impossible indeed to prevent such meetings, by any law either could be executed, or would be consistent with liberty or justice. But though the law cannot hinder people of the same trade from sometimes assembling together, it ought to do nothing to facilitate such assemblies; much less to render them necessary." So, according to you, what type of governance vision Smith had? A monstrosity extracting absurd amounts from an economy to redistribute wealth and having control over the ugliest and most unfair monopoly that has ever existed? Or a limited government that does not encourage the above and occupies itself with business where no market can be established?
  11. Meerkat

    John McDonnell

    I gave you some examples. The best one is the United States before the establishment of the Fed especially and until the complete erosion of any reference to honest money in early 1970s. The fact that the state has usurped so many of market functions nowadays does in no way prove that it is better way to deliver to masses. Founding fathers knew it; as Jefferson put it: “Experience hath shewn, that even under the best forms of government those entrusted with power have, in time, and by slow operations, perverted it into tyranny." And to other people here confusing government and society here is one by Bastiat: "Socialism, like the ancient ideas from which it springs, confuses the distinction between government and society. As a result of this, every time we object to a thing being done by government, the socialists conclude that we object to its being done at all. We disapprove of state education. Then the socialists say that we are opposed to any education. We object to a state religion. Then the socialists say that we want no religion at all. We object to a state-enforced equality. Then they say that we are against equality. And so on, and so on. It is as if the socialists were to accuse us of not wanting persons to eat because we do not want the state to raise grain. I do not dispute their right to invent social combinations, to advertise them, to advocate them, and to try them upon themselves, at their own expense and risk. But I do dispute their right to impose these plans upon us by law – by force – and to compel us to pay for them with our taxes." That you have no experience of living in a more market dominated economy does not mean they never existed or do not exist.
  12. Meerkat

    John McDonnell

    Sigh indeed... Never have I stated that the world with smaller government and less interventions would be some sort of a paradise. But relatively to big government, nanny state & crony capitalism it is a huge improvement. Relativity. There is no better alternative than letting the market work where it can work if you want to raise the general living standard. By the way, someone always pays for the roads and education. With education, I would like choice. Infrastructure we can discuss. Now, what about ponzi style intergeneration social security scheme, what about bubble blowing CBs, government deficit spending?What about housing benefit, what about HBT and things of this sort?
  13. Meerkat

    John McDonnell

    Free market is always better if free competition can be established (independently of the nature of the service/good.) That obviously may exclude certain infrastructure pieces, emergency services and so on (not least the monopoly on violence thru police and army). But as I have stated a few times in other threads and years on this forum, it would be fantastic if our real trouble was confined to these borderline cases. Unfortunately, the real trouble is not an odd fly, but the elephants in the china shop - all sorts of welfare to start with... And yes - people should be given real choice with things like health and education by being able to choose the provider. Those going for non-state solutions should be able to opt out by paying commensurately less tax. If the state is so much better, then it should have no problem beating competition. But then again they say the state hates competition....
  14. Meerkat

    John McDonnell

    That much can be easily detected - the rough occupation of yours. As to why people with libertarian views (and empirical & theoretical evidence supporting their views) are nut jobs I struggle to understand. An attempt with a sane argument would do better than than name calling.
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