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Injin's Theory On Unemployment


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Injin posted his/her theory on unemployment & business failure earlier:

The largest cause of unemployment is the central bank lending at interest.

amount of money - x

amount of money required to pay debts = x + y

y = amount of failed businesses and unemeployed.

Anyone have any thoughts on the above? :rolleyes:

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Injin posted his/her theory on unemployment & business failure earlier:

The largest cause of unemployment is the central bank lending at interest.

amount of money - x

amount of money required to pay debts = x + y

y = amount of failed businesses and unemeployed.

Anyone have any thoughts on the above? :rolleyes:

in this particular case, injin is imo incorrect

The general thrust that unemployment is caused by costs inflicted by rentiers is spot on though.

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Injin posted his/her theory on unemployment & business failure earlier:

The largest cause of unemployment is the central bank lending at interest.

amount of money - x

amount of money required to pay debts = x + y

y = amount of failed businesses and unemeployed.

Anyone have any thoughts on the above? :rolleyes:

Benefits = x

Working = y

Loss of benefits = z

z/y is too high when working for minimum wage

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Anyone have any thoughts on the above? :rolleyes:

How about you giving us your's . In the last 50 year's we have gone form having to import labour as we had more jobs than people , to 8 million adults wihtout a job.

So apart form telling us it is all about the masses just wanting to smoke and watch crap T.V. Give us your thoughts.

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in this particular case, injin is imo incorrect

close but no cigar.

The general thrust that unemployment is caused by costs inflicted by rentiers is spot on though.

the primary cause (but not only cause) of unemployment in a modern fiat economy is the central government BORROWING AT INTEREST and backing that borrowing up by claiming it is a RISK FREE investment, backed by printy p**** and then paying RISK FREE returns to rentiers.

The entire HPI phenomena arises from the above abomination.

As outlined here:

http://liminalhack.wordpress.com/2010/11/08/the-philosophers-stone/

[apologies for the blog ramping, but eventually one gets tired, tired of repeating oneself... in fact one wonders why injin doesn't just link to a few stock paras on his own blog - would save on RSI]

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close but no cigar.

the primary cause (but not only cause) of unemployment in a modern fiat economy is the central government BORROWING AT INTEREST and backing that borrowing up by claiming it is a RISK FREE investment, backed by printy p**** and then paying RISK FREE returns to rentiers.

The entire HPI phenomena arises from the above abomination.

As outlined here:

http://liminalhack.w...osophers-stone/

[apologies for the blog ramping, but eventually one gets tired, tired of repeating oneself... in fact one wonders why injin doesn't just link to a few stock paras on his own blog - would save on RSI]

So, basically you're saying that Injin is completely and utterly wrong.

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He's saying I am right but it's more complicated than my pithy 3 sentences allow for.

Which I can go for.

Injin: The largest cause of unemployment is the central bank lending at interest.

scepticus: the primary cause (but not only cause) of unemployment in a modern fiat economy is the central government BORROWING AT INTEREST

Now, I may be as thick as a whale omelet, but even I know that those are two completely different things. :rolleyes:

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Injin: The largest cause of unemployment is the central bank lending at interest.

scepticus: the primary cause (but not only cause) of unemployment in a modern fiat economy is the central government BORROWING AT INTEREST

Now, I may be as thick as a whale omelet, but even I know that those are two completely different things. :rolleyes:

I am correct.

Unemployment arises primarily from the government borrowing at interest yet promising never to default because it has a printing press.

Having said that the government does also lend at interest but it lends less that it borrows, otherwise it would not be in deficit would it?

Clearly I am correct, but injin is not entirely wrong.

Obviously this is a ponzi scheme that can't go on forever.

Who shall be the parties that lose out from having a never ending stipend from the government stopped?

Who borrows less from the government than they lend to the government, all risk free?

Edited by scepticus
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I am correct.

Unemployment arises primarily from the government borrowing at interest yet promising never to default because it has a printing press.

Having said that the government does also lend at interest but it lends less that it borrows, otherwise it would not be in deficit would it?

Clearly I am correct, but injin is not entirely wrong.

Obviously this is a ponzi scheme that can't go on forever.

Who shall be the parties that lose out from having a never ending stipend from the government stopped?

Who borrows less from the government than they lend to the government, all risk free?

I am not doubting that you are correct.

Neither am I doubting that the government/central bank lends at interest - of course I know they do.

What I want to know is is the largest cause of unemployment the central bank lending at interest? Yes or no?

(Also, note that most institutions throughout history have lent at interest :rolleyes: - why anyone wouldn't lend at interest is beyond me).

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I am not doubting that you are correct.

Neither am I doubting that the government/central bank lends at interest - of course I know they do.

What I want to know is is the largest cause of unemployment the central bank lending at interest? Yes or no?

(Also, note that most institutions throughout history have lent at interest :rolleyes: - why anyone wouldn't lend at interest is beyond me).

It's not that people won't want to lend at interest, it's that the rest of humanity might want to have a say about greedy bastards laying claim to everything that exists in a contract.

i.e. if you promise to give something that isn't yours, is that valid?

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What I want to know is is the largest cause of unemployment the central bank lending at interest? Yes or no?

NO NO NO NO NO NO

The largest cause of unemployment is the governement borrowing at interest and paying interest to bondholders.

The government must now tax workers to pay bondholders.

The bondholders NEVER TAKE ANY RISK.

This is an economic rent, of the most abominable kind and it must come to an end.

Unfortunately too many such securities have been issued and they must now either be deleted via QE or defaulted on.

But if the government defaults on them then it will destory what little savings the workers have and collapse the economy.

They have to print.

But don't worry, it'll all be fine, as long as no-one does anythnig stupid.

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It's not that people won't want to lend at interest, it's that the rest of humanity might want to have a say about greedy bastards laying claim to everything that exists in a contract.

i.e. if you promise to give something that isn't yours, is that valid?

So what you're now saying is that the largest cause of unemployment is the central bank borrowing at interest. :rolleyes::rolleyes::rolleyes:

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So what you're now saying is that the largest cause of unemployment is the central bank borrowing at interest. :rolleyes::rolleyes::rolleyes:

yes. Don't roll your eyes at me, for I tell you the truth.

click on my link.

[not the CB, the government. In any case, there is no point drawing a distinction between them]

Edited by scepticus
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NO NO NO NO NO NO

The largest cause of unemployment is the governement borrowing at interest and paying interest to bondholders.

The government must now tax workers to pay bondholders.

The bondholders NEVER TAKE ANY RISK.

This is an economic rent, of the most abominable kind and it must come to an end.

Unfortunately too many such securities have been issued and they must now either be deleted via QE or defaulted on.

But if the government defaults on them then it will destory what little savings the workers have and collapse the economy.

They have to print.

But don't worry, it'll all be fine, as long as no-one does anythnig stupid.

OK, thanks, now we've established that Injin is completely and utterly wrong, I have another question:

Should the government ever borrow at interest (and pay interest to bondholders)?

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yes. Don't roll your eyes at me, for I tell you the truth.

click on my link.

It's the states ability to force payment (and thereby pass risk onto the little guy from the big) that's the core issue. Take that away and the bond market can do what the ****** it wants.

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Nope.

I outlined a principle to do with all lending.

The largest cause of unemployment is capitalism. It's cr*p but it's better than all the other systems.

No, it's central bank lending at interest.

amount of money - x

amount of money required to pay debts = x + y

y = amount of failed businesses and unemeployed.

And even if it is the best system this is still true. Saying it's inevitable changes no facts. (Ofc you only say it's inevitable because that gets you out of having to change your position.)

So, when you say you didn't mention 'central bank', you in fact mean that you did mention 'central bank'. :rolleyes:

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  • 420 Brexit, House prices and Summer 2020

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