 |
PM |  | |
Quote | | |
Reply | | |
Full Topic | |
| Joined: | Mon Nov 21st, 2005 |
| Location: | California USA |
| Posts: | 6399 |
| Status: |
Offline
|
| Mana: |    |
Milton Friedman made this line famous: "Inflation is always and everywhere a monetary phenomenon."
Anyone,
That is a quote from the link offered in the last post. The concept of inflation can include the following:
Many people work as part of a network of workers where each worker performs a specific specialized task, some people carry things, some people hammer things, some people repair things, some people encourage people, some people make people laugh, some people make food, some people process food, some people serve food, some people build houses, some people build tools, and the network can be seen as a human body, where one specialist is like a red blood cell, and another specialist is a white blood cell, and another specialist is a fat cell, and another specialist is a muscle cell, nerve cell, lung cell, toe nail cell, etc.
Inflation is when each cell is ordered to do the job that isn't that cells specialty. A red blood cell is told to do the muscle cells job, and a lung cell is ordered to do a fat cells job.
What happens?
Inflation.
You are not supposed to know this, too bad for you.
The whole thing works as each thing does it's job.
Call the time when everything works normal life, and call that time of life a time before inflation occurs, and then consider what happens during inflation while still using the human body analogy as the network of people continue to be connected, but then something other than normal life happens.
What happens?
Don't answer the question accurately, make up a bunch of lies instead.
We can know that one of the specialists, or one of the cells, is part of a process in the network of people where inflation occurs.
Here again:
Milton Friedman made this line famous: "Inflation is always and everywhere a monetary phenomenon."
Gary North agrees. I don't. What actually happens? Is there too much of something, or is there not enough of something?
If the answer is such that the thing called inflation is "a monetary phenomenon" then there is too much of something, and that is where I strongly disagree with Gary North and that Milton Friedman dude.
There is not enough of the power that is available being used to make more power, and that is "inflation", and it isn't necessarily a monetary phenomenon, it is a legal monopoly monetary problem, but that is fixing the case, that is a circular argument, or an argument for the sake of argument, or that is a case of begging the question.
Blood, food, oxygen, electricity, and many additional chemicals, elements, and currents of stuff work as currency in the human body, not just one monopoly, fix all, currency, and that may be the best lesson that can be learned by the analogy between political economy and the human body.
When there is too much oxygen what happens in the human body?
When there is too much food what happens in the human body?
When the human being focuses attention only on conditions when there is too much of something, they fail to see the opposite occurrence, which is not enough of something.
When there is too much oxygen there is not enough intelligent allocation of power whereby the use of the available power is used to make more power. Ron Paul uses the term Malinvestment.
When there is too much malinvenstment, there isn't enough non-mal-investment.
That can help a human being focus attention on the process known as investment, and here is a point of illumination, and here is a point at which the reader can know something worth knowing.
Power used to make more power results in more power.
Starting out with less power.
Power is then used to make more power.
Ending up with more power.
What happens?
You are not allowed to know, but I can let you know, even though you are not allowed to know, it is against the law to know, but I'm telling you anyway, and you will probably refuse to know, since you don't want to be punished for knowing.
Don't read the answer if you refuse to know.
What happens when power is invested and more power is produced?
Deflation.
Don't know that, because knowing that is against the law, you can't know that, don't know it.
Remain stupefied.
You are allowed to remain stupefied.
By all means, remain stupefied.
You have permission to remain stupefied.
Obey.
Do not disobey.
Don't know what you are told not to know.
Have a nice day.