Mises
If anarchists are idealists, they may simply be likened to someone who finds himself swimming in a cesspool and, rather than paddling about looking for the area with the least amount of floating faeces, seeks to climb out of the pool completely.
- Robert Higgs
Ultimately, the central bank's decision to stop purchasing government debt likely stems from its mandates around economic stability and price levels. However, by stopping debt monetization, the central bank allows suppressed market forces to re-emerge, bursting asset bubbles inflated by artificial credit. This unavoidable recession purges prior monetary distortions.
The central bank then faces a choice: accept the painful but necessary recession to restructure resources toward sustainable uses, or risk reigniting the boom-bust cycle by resuming easy money policies, delaying the reckoning but inevitably fueling higher inflation. The choice is either short-term pain to cleanse imbalances, or perpetuating distortions until they manifest as a graver predicament.
"Today, all over the world, but first of all in the United States, hosts of statisticians are busy in institutes devoted to what people believe is “economic research.” They collect figures provided by governments and various business units, rearrange, readjust, and reprint them, compute averages and draw charts. They surmise that they are thereby “measuring” mankind’s “behavior” and that there is no difference worth mentioning between their methods of investigation and those applied in the laboratories of physical, chemical, and biological research. They look with pity and contempt upon those economists who, as they say, like the botanists of “antiquity,” rely upon “much speculative thinking” instead of upon “experiments.” And they are fully convinced that out of their restless exertion there will one day emerge final and complete knowledge that will enable the planning authority of the future to make all people perfectly happy"
~ Mises
Cc nostr:npub1t42gfjzfv74v8xrv65f2lrwd65jr85ysrtdmkkfrvqgcss5r4g0qk487qz What do you think of this? Accurate? I think “…buyer and owner..” would’ve been better. Are there any Mises, Rothbard, etc quotes about this scenario? Also reminiscent of John Law’s French bank.
No direct quotes come to mind. There are definitely some parallels, with the key difference being that the government can always issue more debt. So instead of a direct default they can have a "soft" default through hyperinflation and the collapse of the money.
See the irony? 
Wages and salaries serve the same economic function as other prices that is, they guide the utilization of scarce resources which have alternative uses, so that each resource gets used where it is most valued. Yet because these scarce resources are human beings, we tend to look on wages and salaries differently from the way we look on prices paid for other inputs into the production process. Often we ask questions that are emotionally powerful, even if they are logically meaningless and wholly undefined. For example: Are the wages "fair"? Are the workers "exploited"? Is this "a living wage"?
No one likes to see fellow human beings living in poverty and squalor, and many are prepared to do something about it, as shown by the vast billions of dollars that are donated to a wide range of charities every year, on top of the additional billions spent by governments in an attempt to better the condition of poor people. These socially important activities occur alongside an economy coordinated by prices, but the two things serve different purposes. Attempts to make prices, including the prices of people's labor and talents, be something other than signals to guide resources to their most valued uses make those prices less effective for their basic purpose, on which the prosperity of the whole society depends. Ultimately, it is economic prosperity which makes it possible for billions of dollars to be devoted to helping the less fortunate.
~ Thomas Sowell
Bitcoin Audible Chat_094 - Pessimism, Optimism, & Rationally Passionate Ranting with Clint Russell
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How pissed off is nostr:npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx?
Title for the next nostr:npub10uthwp4ddc9w5adfuv69m8la4enkwma07fymuetmt93htcww6wgs55xdlq :
"Matt Gets His Blue Check" 🤣
As the price rises and demand for blockspace increases, individuals will need to rely on exchanges or custodians for longer periods before being able to take self-custody. Eventually, an inflection point will be reached where self-custody becomes economically prohibitive for most individuals.
Unless consensus changes are made, this is the path forward.
The smart way to keep people passive and obedient is to strictly limit the spectrum of acceptable opinion, but allow very lively debate within that spectrum — even encourage the more critical and dissident views. That gives people the sense that there's free thinking going on, while all the time the presuppositions of the system are being reinforced by the limits put on the range of the debate.
~ Noam Chomsky
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"When greed operates outside the bounds of ethical principles and voluntary exchange, it poses a significant threat to the fundamental principles that underpin a free market system."
"It’s true: greed has had a very bad press. I frankly don’t see anything wrong with greed. I think that the people who are always attacking greed would be more consistent with their position if they refused their next salary increase. I don’t see even the most Left-Wing scholar in this country scornfully burning his salary check. In other words, “greed” simply means that you are trying to relieve the nature-given scarcity that man was born with. Greed will continue until the Garden of Eden arrives, when everything is superabundant, and we don’t have to worry about economics at all. We haven’t of course reached that point yet; we haven’t reached the point where everybody is burning his salary increases, or salary checks in general."
https://mises.org/mises-wire/unleashing-power-greed-how-free-market-propels-progress
Bitcoin Audible Read_809 - Bitter Opposition to Bitcoin
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