Elitism and the death of expertise -

[muina]

With the rise of populism and the continuing roasting of the dumpster fire that is the center left establishment in the west. Also consider how the words realpolitik or neoconservative as some sort of slur.
What got my attention was a brief spat between two conservative pundits on twitter

The man makes a point about how the locals shouldn't be the deciding factor on who should run national or foreign policy.
Some people took it as elitist
The "elitists" took it as an opportunity to bitch about populism some more.
Most important the public should put more focus on russia and specifically to Tom's views Iran as well.
So should the "elites" and adults be the one's who run policy ?

 

[Lorento]

With the rise of populism and the continuing roasting of the dumpster fire that is the center left establishment in the west. Also consider how the words realpolitik or neoconservative as some sort of slur.
What got my attention was a brief spat between two conservative pundits on twitter

The man makes a point about how the locals shouldn't be the deciding factor on who should run national or foreign policy.
Some people took it as elitist
The "elitists" took it as an opportunity to bitch about populism some more.
Most important the public should put more focus on russia and specifically to Tom's views Iran as well.
So should the "elites" and adults be the one's who run policy ?

The government should have the ability to act in foreign policy without having to consult the public, sometimes decisive action IS needed, as much as it pains me to see.

The rise of 'Populism' is simply people pointing out that despite the years and years of the elites and political class telling everyone that things are getting better, the only things that seem to be getting heavier are bankers bonuses, politicians pay checks, and the national debt and why the fuck anyone should ever trust the current crop of elites again.

Plus, the foreign policy of Obama and Bush were not deciding factors in their elections. Obama both times was up against charisma vacuums and Bush was against John Kerry, a man so forgettable that I'm surprised they even remembered to put his name on the ballot paper.

 

[Alec Benson Leary]

I am not an irrational person, so when I say this, I mean it—we are doomed.

Your other points aside, you do understand people generally don't feel reassured by someone who feels the need to qualify this?

 

[Woodcutting bot]

So should the "elites" and adults be the one's who run policy ?

Yes, lets hand over all control to people who have never worked a real job in their life, and haven't stepped outside their gated communities. Maybe with their immense intelligence lighting the way and planning everything, we might finally catch up to the USSR

 

[ICametoLurk]

This is a major problem with democracy, which is why the Democratic People's Republic of Korea fixed it by making sure that no outsiders can be elected.

There only the best suited individuals are available for election.

 

[Camarque]

This is a major problem with democracy, which is why the Democratic People's Republic of Korea fixed it by making sure that no outsiders can be elected.

There only the best suited individuals are available for election.

I want to point out here that the leadership of NK is neither insane nor incompetent. In fact, them surviving this long shows that the state apparatus is extremely effective in at least some areas.

 

[Alec Benson Leary]

It is not a qualification, it is a fact. I state fundamental truths about myself in pure humility, and I state them purely to the greater good of God. I do not care what people think about me.

I'm sure no one has ever stated "I am a rational person" unless it was 100% true.

 

[DuskEngine]

This is a major problem with democracy, which is why the Democratic People's Republic of Korea fixed it by making sure that no outsiders can be elected.

There only the best suited individuals are available for election.

The path of Songun Chongch'i is necessary to ensure the primacy of the armed forces as the vanguard of the People's Revolution. The tensions between the unrepresented masses and the elite plutocrats can only exist under imperial capitalism, whereas Juche Ideology has synthesized a perfect, organic unity of the Party, the Army and the People.

 

[KillaClown1488]

[SNIP]

Bro, Austrian and Keynesian economics are both just memes, chill out.

 

[AnOminous]

You can expect hoarding of commodities when this occurs and a decoupling between the physical and derivatives markets. The hyperinflation of the Weimar Republic in 1923 will seem like child's play compared to what will happen.

Buy Dogecoin and gold!

 

[Gym Leader Elesa]

Run what? The Constitutional Republic of the United States has been dead for decades now. Politics is pure theatre, and the rule of law no longer exists.

Look at the derivatives market. Look at the derivatives exposure of the megabanks. JPMorgan, Bank of America, Goldman Sachs, Citibank. I am not an irrational person, so when I say this, I mean it—we are doomed. Mathematically and logically, there is no way out of what has occurred. The oligarchs have stolen money from generations of humans yet to have been born. Landmass redistribution will need to occur along with massive bloodshed.

If we were to elect a bag of Flamin' Hot Cheetos as POTUS within 24 hours, and have President Bag of Flamin' Hot Cheetos run for a full two terms, you would see no difference in presidential efficacy between President Bag of Flamin' Hot Cheetos and President Trump. I am not saying this as a joke. This is reality.

Then you understand that MV = PQ. Very simple economic equation—money supply times velocity of circulation equals price level times quantity of output. When we have both megabanks and central banks stealing money from generations of humans yet to exist, then you must understand what effect this will have on humanity. It's imperative to understand that money is the fungible proxy for your humanity.

Our money supply is unrealistically high. The derivatives exposure of the megabanks in the United States alone is, at least, two times the global GDP. This doesn't include the megabanks and central banks of other countries. The only thing that is propping up this paradigm is the velocity of circulation in the form of credit. Once this paradigm falls, as it must because logic and mathematics dictates that it will, you can expect this equation of exchange to balance to reality. Velocity will eventually come to a halt, and we will be left with an unreal money supply. Then, the other side of the equation must balance to this reality. Since the productive output of humans can only accomplish so much, as we are limited to a temporal plane, it then must be understood that the price level of said output will increase—and it must increase in proportion to money supply times velocity. The quantity of production will not be able to withstand the decrease in velocity, as our money supply has borrowed from generations of humans that have yet to exist. Earth simply does not have the manpower to produce for double humanity's global GDP worth. This equation must balance, and it will balance by landmass redistribution, massive bloodshed, and hyperinflation never before seen.

You can expect hoarding of commodities when this occurs and a decoupling between the physical and derivatives markets. The hyperinflation of the Weimar Republic in 1923 will seem like child's play compared to what will happen.

It is not a qualification, it is a fact. I state fundamental truths about myself in pure humility, and I state them purely to the greater good of God. I do not care what people think about me.

I shared that fact about myself to emphasize the premise that we are doomed to suffer a catastrophic war. This is the unconditional premise. My only purpose for doing so is to warn that the citizens of the United States will suffer the consequences for permitting the systematic theft and total economic perversion by the tyrannical oligarchs. This economic collapse will affect all nations and all persons, but its epicenter will rest in the United States.

I care about human souls. "The charity of many [has grown] cold", and this is the result. You're either with God or against Him, and may He have mercy on us.

"Dead for decades"? You claim to to care about human souls, and yet you won't even acknowledge that the United States ended with the tyranny of Lincoln and the defeat of the South, the most righteous and Godly war in human history (obviously.)

smh fam

 

[millais]

Technocracy works ok except there is no good safety valve for public discontent and unrest when things go tits up. Look to the example of China, once the ultimate technocracy. Between the liberalization of Deng Xiaoping's presidency and the consolidation of political power under current President and party leader Xi Jinping, China was ruled by a politburo of technocrats who were largely promoted on the basis of their experience as economic, scientific, and industrial experts. They made leaps and bounds in the extent of what their policies were able to accomplish unhindered by populist democratic accountability and checks/balances. But when economy sours, the legitimacy of their government and their mandate of rule has not much ground to stand on, in contrast to a populist democratic system.

 

[KillaClown1488]

Then you understand that MV = PQ. Very simple economic equation—money supply times velocity of circulation equals price level times quantity of output. When we have both megabanks and central banks stealing money from generations of humans yet to exist, then you must understand what effect this will have on humanity. It's imperative to understand that money is the fungible proxy for your humanity.

Our money supply is unrealistically high. The derivatives exposure of the megabanks in the United States alone is, at least, two times the global GDP. This doesn't include the megabanks and central banks of other countries. The only thing that is propping up this paradigm is the velocity of circulation in the form of credit. Once this paradigm falls, as it must because logic and mathematics dictates that it will, you can expect this equation of exchange to balance to reality. Velocity will eventually come to a halt, and we will be left with an unreal money supply. Then, the other side of the equation must balance to this reality. Since the productive output of humans can only accomplish so much, as we are limited to a temporal plane, it then must be understood that the price level of said output will increase—and it must increase in proportion to money supply times velocity. The quantity of production will not be able to withstand the decrease in velocity, as our money supply has borrowed from generations of humans that have yet to exist. Earth simply does not have the manpower to produce for double humanity's global GDP worth. This equation must balance, and it will balance by landmass redistribution, massive bloodshed, and hyperinflation never before seen.

You can expect hoarding of commodities when this occurs and a decoupling between the physical and derivatives markets. The hyperinflation of the Weimar Republic in 1923 will seem like child's play compared to what will happen.

I'll agree with some of what you're saying, but the inflation you're worried about should have happened already, according to most economic models. Central banks have been pumping currency into the general economy nonstop since the collapse back in '08, but inflation has remained relatively low in this period. Monetary velocity is just a meme as well. As it stands, unemployment is currently extremely high in most western countries, as well as around the world- ergo productive capacity could easily grow substantially if these people were properly mobilized into valid economic activities. If your spending today employs a man who build a road and would otherwise be unemployed, and then that man buys goods and services from someone else who would otherwise be unemployed as a result, you haven't really stolen anything from anyone's future- you've actually made it better for everyone.

That said, derivatives trading needs to die asap.

 

[Alec Benson Leary]

You are looking at the economics on a very microscopic level. You need to understand that the money is hidden in derivatives exposure by megabanks and central banks, and that these derivatives by their very nature are credit. The logical jumps that you need to make in order to see how this is influenced by credit default swaps, repurchase agreements, and reverse repurchase agreements is very simple.

The fundamental nature of how these derivatives are being abused is that the sovereign debt of nations are being used as collateral in repos and reverse repos. What this means is that banks are buying bonds from sovereign nations that enter into an agreement with these banks to sell these bonds to the banks at a discounted price and later buy back the bonds at their full value. These nations do this because they need money immediately. Once these banks have these sovereign bonds, they turn around and insure them with the megabanks through credit default swaps. Insuring these bonds means that these banks will realize the full value of their bonds should the nation default. However, the ISDA would not allow this to happen, and so the megabanks simply accrue premiums at no risk. In order to keep the money flowing, the Federal Reserve then lends and borrows treasury securities with banks through repo and reverse repo agreements. The money is being fabricated to keep this paradigm afloat. So long as sovereign debt can be bought with an entire nation being used as collateral, there is no end to the money printing that will occur.

The unemployed citizens of the United States do not matter. This is a global phenomenon that involves all of humanity, and is fundamentally criminal in its nature.

Eh, more or less.

 

[bbpoison]

The unemployed citizens of the United States do not matter. This is a global phenomenon that involves all of humanity, and is fundamentally criminal in its nature.

How is it criminal if this debt system controls the very nature of our legal system? I agree with your idea as money as a proxy, in that it control our lives as human beings in a very systematic manner that is unnoticeable to most people. This is indeed a global problem that cannot be overturned by a few groups that are aware of the unsustainability and inefficiency of the monetary system that governs us. Most people are chained in traditional belief systems that does not allow them to view the way they live on a systematic, global level. There's two general scenarios that I see involving our future: 1. Our economy basically falls apart and chaos ensues. 2. A technological paradigm occurs that will render the monetary system obsolete (ex. some advanced printer/molecular assembler that can print food, shelter and itself so that it becomes a viable option to opt out of the monetary system without having to live as a bum or a hunter) Of course technology is a double-sword and is already replacing humans who obtain income from low-skilled jobs. So anyways, I definitely feel a technological pressure exerted on our society to change drastically whether it be violent and/or peaceful that will replace the system we are now operating under.

 

[ADN_VIII]

And I can say with a certainty that having technology ratify our sins is the far worse outcome. Imminent bodily death would be preferable to the anesthesia of an unrepentant, loveless life that is propped up by computers.

Like the one you're using now and that a massive chunk of the human population has some level of access to?

 

[bbpoison]

And I can say with a certainty that having technology ratify our sins is the far worse outcome. Imminent bodily death would be preferable to the anesthesia of an unrepentant, loveless life that is propped up by computers.

Man is in the bottomless pit. Goodnight 1864897514651.

 

[KillaClown1488]

You are looking at the economics on a very microscopic level. You need to understand that the money is hidden in derivatives exposure by megabanks and central banks, and that these derivatives by their very nature are credit. The logical jumps that you need to make in order to see how this is influenced by credit default swaps, repurchase agreements, and reverse repurchase agreements is very simple.

The fundamental nature of how these derivatives are being abused is that the sovereign debt of nations are being used as collateral in repos and reverse repos. What this means is that banks are buying bonds from sovereign nations that enter into an agreement with these banks to sell these bonds to the banks at a discounted price and later buy back the bonds at their full value. These nations do this because they need money immediately. Once these banks have these sovereign bonds, they turn around and insure them with the megabanks through credit default swaps. Insuring these bonds means that these banks will realize the full value of their bonds should the nation default. However, the ISDA would not allow this to happen, and so the megabanks simply accrue premiums at no risk. In order to keep the money flowing, the Federal Reserve then lends and borrows treasury securities with banks through repo and reverse repo agreements. The money is being fabricated to keep this paradigm afloat. So long as sovereign debt can be bought with an entire nation being used as collateral, there is no end to the money printing that will occur.

The unemployed citizens of the United States do not matter. This is a global phenomenon that involves all of humanity, and is fundamentally criminal in its nature.

Yeah, I can mostly agree to this- Obama didn't do enough to clean house when the crash hit and, even if he did, it's unclear how much that would have changed things unless there was structural reform as well.

My original post was more making a case that deficit spending can be a useful economic practice. Also, my point on unemployment can be expanded to most of the developed world.