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Comment: Re:more leisure time for humans! (Score 1) 526

by EuclideanSilence (#47413985) Attached to: Foxconn Replacing Workers With Robots

Karl Marx saw this coming over 150 years ago

The final end result of mass mechanized production is that the available workers will far outnumber the available jobs, and this is the problem that communism was intended to solve.

Unfortunately, communism has earned a fatally bad reputation after being misused by so many dictators during the 20th century.

So instead of 1 person working 40 hrs a week, you have 5 people working 8 hrs a week either and everything costs 1/5 as much because it is made by robots.

The real danger is the government creating a privileged class of those who are allowed to use robots for production. It will start as a "protect the worker" campaign but it will end up like all the other privilege legislation. Another serious danger is increase in taxes and inflation (the money supply) occurring simultaneously with the automation progress and cancelling all the progress.

Comment: Re:I wonder what their reasoning is...? (Score 1) 340

I know this is a favorite conspiracy among internet commenters for whatever reason, but the petrodollar conspiracy is a myth.

Wait. What? He called it a monopoly, not a conspiracy...

The United States is also the worlds largest manufacturer, surpassing the next five manufacturers combined in total output.

Wait. What? The US is a net importer, no one voluntarily builds manufacturing in the US...

It is also the world's historically most stable currency, making it very attractive for sovereign reserve funds.

Wait. What? We inflate money supply like sex toys, devaluing the dollar constantly. Almost any commodity is more stable than the dollar, unless you measure it against the dollar...

Source: I'm taking honors economics in high school right now.

OH!! hahahaha you had me going. Ok you got me.

Comment: Re:Good! (Score 2) 619

by EuclideanSilence (#47276465) Attached to: 2 US Senators Propose 12-Cent Gas Tax Increase

It seems no one has explained to the slashdot viewers the nature of the US federalist government. You see, certain responsibilities are left to the federal government, such as military defense, coining money, and international trade agreements. Other responsibilities are left to state governments, such as firefighters, most law enforcement, and ROADS.

No the feds should not put any tax towards road infrastructure because they are not responsible for roads. They don't have the constitutional authority, and they can do a crappy job with no repercussions at all.

Comment: Re:I hope they get whatever they can for them (Score 1) 232

by EuclideanSilence (#47232449) Attached to: US To Auction 29,656 Bitcoins Seized From Silk Road

The real distinction of legal tender, I.M.O., is when you don't have to pay taxes on transactions or capital gains. That's why one could argue that capital gains tax on gold is unconstitutional, because it undermines it's distinction as legal tender. "No State shall ... make any Thing but gold and silver Coin a Tender in Payment of Debts..."

A morsel of genuine history is a thing so rare as to be always valuable. -- Thomas Jefferson

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