Economist says cash is bad for the economy.

[geodesi]

http://www.abc.net.au/news/2016-10-21/world-awash-with-cash-fuels-illegal-activity/7933250

The economist seems to miss the point that economies are based on trade, and cash is about trade.

He seems more focused on Government and Central Bank control, than economic outcomes. One of his most poignant statements is that 'we could use negative interest rates to promote investment."

When did economists lose sight of real world value creation, ie production, resource extraction, farming and switch to government and central bank stimulus policy focused on finance and derivatives?

 

[Old Codger]

Figures, MSM Economist I presume!

David Kosch perhaps

OC

 

[spannermonkey]

Economist constantly get it wrong

 

[mmm....shiney!]

When did economists lose sight of real world value creation, ie production, resource extraction, farming and switch to government and central bank stimulus policy focused on finance and derivatives?

[youtube]http://www.youtube.com/watch?v=oXrEChbc5gI[/youtube]

 

[Shaddam IV]

Economists and "climate scientists". Two things that the world would be better off without.

 

[Shaddam IV]

.

 

[BuggedOut]

When did economists lose sight of real world value creation, ie production, resource extraction, farming and switch to government and central bank stimulus policy focused on finance and derivatives?

[youtube]http://www.youtube.com/watch?v=oXrEChbc5gI[/youtube]

Wow. That was excellent. Thanks shiney

 

[mmm....shiney!]

Deist is a great source for both Austrian economics and libertarian principles and I'm really happy someone has watched that.

 

[boneyard]

When did economists lose sight of real world value creation, ie production, resource extraction, farming and switch to government and central bank stimulus policy focused on finance and derivatives?

[youtube]http://www.youtube.com/watch?v=oXrEChbc5gI[/youtube]

Wow. That was excellent. Thanks shiney

that clip ticked soooooo many boxes.

thanks for the link.

now to try to get some others to spend some time to learn and grow.

 

[SteveS]

[youtube]http://www.youtube.com/watch?v=oXrEChbc5gI[/youtube]

Wow. That was excellent. Thanks shiney

that clip ticked soooooo many boxes.

thanks for the link.

now to try to get some others to spend some time to learn and grow.

First step: try not to be patronising (I have to work at that, too).

 

[Holdfast]

You'll need food and water.

Some of you folk still don't get it!

Gold and silver will save your arse!

I'm amazed..."really"....the writing is on the wall.

They always said WW3 would start in the Middle East...I've said before...if "they" get into Turkey it's all-over!

For those don't know, "Turkey" (Muslim Nation) is part of NATO https://en.wikipedia.org/wiki/Member_states_of_NATO

If you haven't done so, I'd suggest you put spare cash into gold and silver and...fwiw, get out of the big cities.... "NOW".

If Clinton is elected, research cold war 1957 Nuclear Defence.

"CASH" lol....time for hard assets.

H

 

[SteveS]

You'll need food and water.

Some of you folk still don't get it!

Gold and silver will save your arse!

I'm amazed..."really"....the writing is on the wall.

They always said WW3 would start in the Middle East...I've said before...if "they" get into Turkey it's all-over!

For those don't know, "Turkey" (Muslim Nation) is part of NATO https://en.wikipedia.org/wiki/Member_states_of_NATO

If you haven't done so, I'd suggest you put spare cash into gold and silver and...fwiw, get out of the big cities.... "NOW".

If Clinton is elected, research cold war 1957 Nuclear Defence.

"CASH" lol....time for hard assets.

H

Maybe try shouting more.

 

[Ipv6Ready]

http://www.abc.net.au/news/2016-10-21/world-awash-with-cash-fuels-illegal-activity/7933250

The economist seems to miss the point that economies are based on trade, and cash is about trade.

He seems more focused on Government and Central Bank control, than economic outcomes. One of his most poignant statements is that 'we could use negative interest rates to promote investment."

When did economists lose sight of real world value creation, ie production, resource extraction, farming and switch to government and central bank stimulus policy focused on finance and derivatives?

Negative interest rate incourages poeple (banks) to divert the saving into other assets, like bonds, shares and even PM

Just like there are trillions of dollars of debt there also trillions of dollars of savings.

Even though you might not have considered it, your super account is also a saving account.

Plus that economist was talking about banks not people. Negative central bank interest rate means banks would likely to divert it to other assets like government bonds or investment grade senior debentures. The funds from that is used by who ever wrote the bonds to invest the money.

 

[Ag bullet]

Even though you might not have considered it, your super account is also a government savings account.

Fixed it.

 

[Ipv6Ready]

Even though you might not have considered it, your super account is also a government savings account.

Fixed it.

So is your shares and managed funds etc