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Comment: Re:Hurrah for health redistributuion (Score 1) 233 233

Doctors used to prescribe bloodletting for centuries, until the it was declared "unscientific". And back again...

But it has never been mandatory... Even today Red Cross and others beg and encourage would-be donors to give blood — wouldn't it be nice for the government to compel citizens to do it? A "common-sense measure to help restore the health of our great nation", uhm?

+ - Pressure mounts on Google to extend Right to Be Forgotten to US-> 1 1

Mark Wilson writes: The Right To Be Forgotten has proved controversial. A little over a year ago Google was told by a European court that it should accept requests to remove from search results pages that are "inadequate, irrelevant or no longer relevant". Now, calls for the scheme to be extended to the US are growing ever-louder.

Consumer Watchdog not only says that the Right To Be Forgotten should be brought to the US, but also that Google's refusal to do so is an "unfair and deceptive" business practice. The consumer group is writing to the Federal Trade Commission calling for the search giant to be investigated and forced to consider the removal of certain search results. As has been proved in Europe, it's something that is not without controversy.

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Comment: Hurrah for health redistributuion (Score -1, Troll) 233 233

if we knew more about biological age we could be more fair and egalitarian

What? Is this another thing, where the bigoted and parochial society unfairly targets the less successful?

Is the responsibility for maintaining one's own body no longer with the individual? I guess, if one can blame "the system" for being poor, one can also blame it for being sick — "the Man" made me drink beer and smoke all sorts of plants since age 14!

I can see the new Statist argument in the making — that the government should take yet another heavy burden upon its tired shoulders and redistribute health — in addition to wealth! That it is grossly unfair, for example, that Michael Phelps' body won him 10 gold medals for swimming... Just wait for some way to be found to tax one's health to help "the less fortunate". The voluntary blood-donations of today will be ridiculed by Statists in the same manner, they already ridicule the idea of private charities...

Troll my tail — just what is it, that we, supposedly, "didn't know"? We've known for thousands of years, that some people remain much healthier and more capable with age than others — that we've now gotten around to quantifying it does not really change anything...

Comment: Re:Living Wage is mandated for, and desired by idi (Score 1) 82 82

I think your location's inability to get a taxi service running speaks more about where you are from than the awesomeness that is Uber. Where I live taxis are clean, cheap, the drivers know where you want to go, and have great training. Uber was hounded out of town because they were screwing up the current, working system, to the detriment of customers and drivers alike.

Comment: Re:Mixed Feelings (Score 1, Insightful) 65 65

Let's kill all advertising so that you will not be able to find any new products or services and no company could find a client who didn't know the company directly somehow. Wouldn't it be great, not to know about anything people are trying to create for you?

Comment: Re:Spending cuts one way or another (Score 1) 407 407

Ha ha ha ha ha, sure, you can believe in magic if you like, in this reality though we obey the laws of thermodynamics, especially conservation of energy and momentum. You cannot consume what you did not produce.

Take an empty island, put 1,000,000 people on it and if they do not produce they will not eat. No amount of funny money printed by 'government' will solve that very basic issue of food and energy and shelter and other life necessities (and luxuries) not coming into existence just because you printed some candy wrappers.

Comment: Re:Spending cuts one way or another (Score 2) 407 407

The reality is that the USA will never have trouble 'selling' its bonds, because the federal reserve just buys them if nobody else will or it wants to drive down interest rates

- I absolutely agree with you, which is why the bond collapse will happen as the result of the currency crisis, which will result from this inflation.

Essentially the fed, ECB, BoE are saying to savers go and spend your money, stop hoarding it. But savers are not listening so aggregate demand is still broken.

- of-course people don't want to spend on bonds and stocks that is the 'demand' we are talking about, let's be clear about it. People are not buying the bonds and stocks that governments want to see selling.

The reality is that the inflationary policy is destroying the economy and a destroyed economy will collapse in its own right, the currency collapses because of the government spending that the mob wants and the economy collapses due to this gigantic misallocaiton of resources. The currency collapse triggers the bond market collapse, since bonds are currency promised in the future.

Japan is stagnating specifically because it is inflating like the USA but its currency is NOT the so called 'reserve', and so the inflation that Japan is producing stays within its own borders, it's absorbing its own inflation and destroying its own economy.

The USA is using the status of the 'reserve currency' to spread the misery around, spreading inflation is national past time, the biggest USA export is its inflation, which creates inflation everywhere else before taking home back to the USA. This is happening of-course anyway, it's manifesting itself as destruction of the productive sector, gigantic real unemployment, class warfare, bubbles in everything everywhere.

The 0% Fed's interest rate for 7 years put USA economy on the inflationary needle and this drug will not be kicked without a huge collapse first, no junkie kicks his habit before hitting the rock bottom.

The clear best answer for the economy in general is free market and removal of government from money and interest rate manipulation, abolition of the welfare state and restructuring of all debts. Whether saving is worth more than borrowing is a question to the healthy free market, something that USA lost long ago.

Comment: Re:Spending cuts one way or another (Score 1) 407 407

Ha ha, what a funny comment.

Money is
1. Store of value.
2. Means of exchange.
3. Unit of account.

I understand that it's way above your head, since you believe money to be CREATED by government, which is absolute, unadulterated, pure 100% nonsense that leads to disasters like Greece, like Zimbabwe, like USSR and hundreds of others.

Government cannot create money any more than government can create anything and it does not create anything of any productive value and it shouldn't.

Money comes into existence when new goods are produce that people are willing to exchange for, in that case money comes into existence through deflation of money supply with regards to the total productive output.

Money comes into existence when people decide what it is that they actually want to exchange in and store value in and what is easy to count, divide, add, subtract, which is why gold is money.

Money does not come into existence by any government magic or by any other form of magic, that is true, the only thing that government 'magic' (or fractional reserve magic for that reason) can do is take value from existing assets and redistribute it by lowering asset values. This trick really only works if the government has a monopoly on that type of asset, which is why government sets up counterfeiting laws that prohibit competition to the counterfeiting operations that government is running whenever it turns on the printing press.

The real USD existed when in fact IT WAS AN IOU, it was a banknote issued by the bank who promised to deliver gold upon receiving the note.

What governments do is not money creating, what governments do is price controls, exchange controls, inflation and theft, but they cannot create money. A government can dilute the value of all money in existence but it cannot create money, it cannot add net value into the system, it can only subtract net value.

An organization that is capable of adding net value into the system runs a profitable business, not a government, which lives on coercion backed by deadly force.

Anyway, I am sure this is either completely above your head and/or completely against your propaganda.

Comment: Spending cuts one way or another (Score 2, Interesting) 407 407

This 'no' vote self-imposes the spending cut that Greece hates to see but the 'yes' vote also imposes the spending cut. There is no way to avoid a spending cut for Greece.

Austerity is a strange word, it sounds sterile, it has strange connotations. The correct term is spending cuts.

You cut spending if you cannot afford what you are spending on and when you cannot borrow to spend either and in case of chronic offenders the sooner the creditors realize what they are dealing with the healthier for everybody. It's healthier for the spender, who has to come to terms of the impossible situation he is in and it is healthier for the creditor, who will avoid losing even more money. It is healthier for the overall economy not to have welfare State system in the first place, to have people consume based on what they produce and not based on what can be taken from somebody else without any form of repayment.

Real money does not come into being by magic, it is not printed into existence, it is not magically created on a computer. Real money is the result of productive activity, where the word 'productive' really means that something is being produced that others are voluntarily willing to trade for in a way that is sustainable for both, the producer and the consumer.

The world has been playing with fire for the last 100 years with everybody being on fiat, it's been playing with a gigantic fire since the USD became uncontrollably inflationary due to it not being backed by any production (USA has been running half a Trillion USD trade deficit for over a decade now) nor by any money reserves (USD is not backed by gold, Nixon defaulted on the dollar back in 1971, and that's how these problems of inflationary policies and welfare state accelerated).

USA has its own version of what is Greece experiencing right now, that's what 'debt ceiling' is. Many believe that USA can simply print bonds and sell them and get out of jail free, however this only works as long as somebody buys those bonds and the bond market is the biggest bubble of all. USA will have its own currency crisis and bonds are currency promised into the future, so that will also collapse.

As Germany now refuses to just pour money into this bottomless pit called Greece, people will refuse to just pour money into the bottomless pit called USA and that will be even more interesting to observe.

Everybody who tells you 'austerity does not work' are full of it. Austerity means you are not spending money you didn't earn and especially where it concerns consumption rather than investment, and ALL things that people want government to spend on are consumption and not investment, so the important distinction is this: government must be austere, only government austerity can reallocate the scarce resources to people, who will rebuild the economy.

In the long run Greece is better off because of this spending cut, it will learn to live within its means and maybe to produce more and it will have a healthy economy. But like any alcoholic or drug addict apparently it will have to hit the rock bottom before it will reform.

Yes, we will be going to OSI, Mars, and Pluto, but not necessarily in that order. -- Jeffrey Honig