Max Keiser And Sandeep Jaitly: Modern Economics Is Rubbish

[Kat]

Time wasted is only a label for one form of the tradeoff of labor and leisure time. Most modern day economists should hypothesize that it is neither a factor of economic rent nor opportunity cost, but more a statement of satiation at the household level caused by technological advances.

[Egg]

Economics is about scamming people. Put a label on it, set a facade of man-made rules to govern it, put people in charge of enforcing those rules... and now everyone's fucked. We don't need a scholarly debate on this shit. Look and see. If economics worked, everything would be sitting pretty by now... but a few centuries later, and a good half of the human world, more like 2/3rds, is in the shitter, just barely called "alive" and the rest of the "other than human" world lies in utter ruin.

Ah yeah it is a failure in every aspect. Everything about "economy" is FAIL. End of story. End it tomorrow for good... but you won't. Nobody will. It's the start of another meaningless workweek, another worldwide killing spree. Let's not keep sugarcoating this shit. I fucking hate lies and the liars who lie, even to justify. There is no justification. There is only stopping, and stopping is as easy as STOPPING, you fucking idiots.

Yeah, that about sums it up.

[Pigeon]

The people who have been bit seem to be the ones to admit that it bites. Those still dreaming continue to say 'nice puppy'.

[Pigeon]

Economics is about scamming people

Credit Default swaps or options

[IndicusMaximus]

Both. All. I don't really know or care about knowing it. If it takes a college degree to understand, then it's more of a hinderance to communication i.e. flow of information i.e. energy i.e. "economy" than it is an aid to it.

[Egg]

Both. All. I don't really know or care about knowing it. If it takes a college degree to understand, then it's more of a hinderance to communication i.e. flow of information i.e. energy i.e. "economy" than it is an aid to it.

I think Pigeon meant to use those two as examples, I don't think he was asking which one was a scam.

[IndicusMaximus]

Really, if there is a system in which circulation is cut off or diverted from certain vital parts of the body in favor of a small cluster of absolutely useless and destructive elements which overgrow to the point of threatening the life of their parent body, what you have is a viral system which encourages cancer and destruction, and uses the body's own elements against it.

To egg: oh okay. makes sense.

[IndicusMaximus]

They say whatever doesn't kill you makes you stronger. True, if we can overcome this viral system in favor of a more balanced and eco-friendly system, we'll be much stronger for it... and maybe even we aught to thank the system we have now for strengthening us for the future.... but that's a rocky grey area. How much can the parent body handle before it crosses that threshold where either it dies of the disease or it defeats it and becomes stronger?

[Egg]

Preach on, brother. AMEN!!!

[Pigeon]

I think Pigeon meant to use those two as examples...

Yep