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Comment Re:A UBI can actually foster more jobs (Score 1) 885

Comment Re:Holy flamebait batman! (Score 1) 885

UBI is a modern version of Communism and as all such schemes it will end up in destruction, misery, murder and poverty.

The countries that are 'half way there' are also either getting out of it or they are going towards self destruction, all forms of collectivism end up in economic destruction, some take longer some get there quicker.

Comment Re:Holy flamebait batman! (Score 1) 885

The only thing that has no basis in reality is the idea that UBI will lead to prosperity instead of economic destruction. I explain that UBI is a modern version of Communism and as with all forms of collectivism this one too, will eat itself and the people will end up miserable, oppressed, some will be dead and everybody will be poor.

Comment Re:Ellen Pao (Score 1) 617

Who pays the debts? USA pays the debts? First of all there is no law requiring that USA pays all debts. Secondly USA does not pay any debts, it prints money and buys Treasuries off of the market through the Fed, it does not pay debts, it returns paper that is being devalued with each newly printed (or electronically created) note. Returning paper that is devalued is the opposite of 'paying debts'. USA should pay debts though but it is impossible because USA debts are completely unpayable by the USA economy and can never be paid. Thus USA debts will be defaulted as they were *multiple times*, one very obvious time was when Nixon defaulted on the gold payable by the Fed for US dollars held by foreign governments. This happened in 1971. If you don't understand that USA doesn't pay debts at all that's not my problem, that's your public government education fault.

Defaulting on the unpayable debts in an honest fashion through restructuring and some form of a reduced payment program would be preferable for the USA economy to the collapse based on inflation (money printing) that US government is choosing to go with.

User Journal

Journal Journal: UBI is the modern version of Communism 1

In the last year or so there have been numerous stories on /. on the subject of Universal Basic Income (UBI). Many so called 'libertarians' left a number of comments on how they are supporting UBI because they think it might be more efficient than other forms of welfare.

Comment Re:basic income (Score 1) 885

I guess you didn't actually read anything I wrote, I explained it in the comment. Why should I repeat myself if you are not paying attention?

The State will have to confiscate the means of production otherwise the producers will not trade in the country where they own the means of production. That's because trading is a *2 way street*, both sides have to *produce* something of value to the other side.

With a large portion of the population not producing anything but being subsidized from the income of the producers the producer will lose twice (2 times) in that transaction.

The first time the producer will lose when the government will confiscate his productive output in form of various taxes to pass that money to the UBI recipients. The second time the producer will lose when the UBI recipient will come to the producer to give the producer *HIS OWN MONEY* in exchange for the goods that the producer produced.

That's not a trade at all, that's not 'buying'. Thus the producer will not trade in the country where he is taxed for the benefit of the UBI recipients. The producer will trade in countries where people will produce something *IN EXCHANGE* for what the producer offers.

This means that the producer will not be taxed in USA, just like Apple cannot be taxed on the income made outside of the country. BUT for the UBI to exist somebody has to be taxed and it has to be *net producer* who must be taxed, the net UBI recipient cannot be taxed for this to work (unless you figured out a way to repeal the natural laws of conservation of energy, mass and momentum and thus invented a perpetual motion machine).

I don't know how else to explain it to you better than this, which is pretty much the same thing I said in the comment you responded to. You might be trolling with that question of-course, in which case I tip my hat.

Ta ta.

Comment Re:Ellen Pao (Score 1) 617

Well, you are a dumb ass, which is why you think you 'hear' things. Somalia is not an anarchist country any more than the States are. Somalia doesn't have a single federal government, yet there are plenty of local governments. It is not an anarchist country, it is a county that fought for its independence from the Royalty and from the Communists and is now free from those people.

Comment Re:Ellen Pao (Score 1) 617

I don't have problems with people exercising ability to prevent governments from oppressing them, to me that is what TPP is. Ability to fight against a government in court and force it to accept freedom of the individual and company.

Now, I don't believe governments should be able to meddle in any business or money at all, but a collectivist may have a different point of view.

Comment Re:working to offset expansion of the money supply (Score 1) 403

Don't make a mistake thinking that USA will not default on its debts, it is defaulting on its debts today, which is why it keeps printing more and more money to buy the Treasuries nobody wants, which is why the USA economy is destroyed, all this money printing (money expansion = inflation) is what drove the businesses away together with the rules, laws, unions, taxes, etc.

USA will default on its debts one way or another. One way is to do it honestly, allowing a restructuring to be organized, renegotiating the payment agreements, not paying 100% of the money borrowed, paying *some* money back.

Seems to me that the USA will not choose that route, instead it will print its way out of this debt destroying the US dollar and bonds in the process, which is not what you want if you want a functioning economy.

Comment working to offset expansion of the money supply (Score 3, Informative) 403

Americans have to work more hours and take fewer vacation days because they are poorer at this point, given that USA is running 500,000,000,000 a year trade deficit and has been running that for 2 decades now, Americans cannot afford anything, they are completely stuck in debt and their government in concert with the Federal reserve are destroying the value of their money, value of theirs savings every days. Government spending and money printing, pushing interest rates down to keep borrowing more by doing things like 'operation twist' (the Fed buying long term bonds at negative real interest rates because nobody else would), all of this is expanding the money supply making USD less valuable all the time, thus making Americans less productive every day.

The only way out of this insanity is to restructure the debts, an honest default on the USD denominated debt, stopping all government spending (yes, this means all wars, all SS payments, all Medicare payments, everything). You have to clear away all of your debts, allow the bond holders to lose money so that the interest rates would reset to normal levels (only real market without government intervention can set real interest rates). Get the government out of your money because otherwise you will never have vacations or retirement savings or anything.

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