orlandob
Joined 14 years ago
Karma
76
Submissions
36
Member since
Feb 21
Miami, FL
View on Hacker NewsRecent submissions
Comment · 9 years ago
Gotta pay rent.
Comment · 10 years ago
Inflation occurs if new money chases same goods. But if new goods are created, its new money for new goods, an expansion of the economy.
Comment · 10 years ago
Money supply increase does not necessarily lead to inflation.
Comment · 10 years ago
So many intelligent people read this site yet only a handful understand real world monetary policy and economics. Thank you for this comment.
Comment · 10 years ago
"People between 40 and Ω (an indeterminate number defined as “really, just way too old”), are primarily employed as meaning-makers for the under-40 set. This is because they are mostly good for nothing else, and on average not valuable enough themselves for society to invest meaning in."
Deliciously dark.
Comment · 10 years ago
kdb+/q, apl, j for finance
Comment · 11 years ago
At some point, intelligent members of society (read: YOU PEOPLE) will realize that there is no such thing as zero-sum fiat monetary system. You don't need to tax someone for the government to create a new spending program. There is no scarcity in USD (its fiat money, there's infinite supply). When there are economic resources untapped, the ~50% unemployed & underemployed, the Government MUST step in and provide stimulus. The multiplier on the economy has been well studied and would benefit society greatly.
IN FIAT MONEY SYSTEMS (USD, CAD, JPY, AUD, CHF, etc.) FEDERAL DEBT IS PUBLIC INCOME. FEDERAL SURPLUS IS PUBLIC DEBT.
Comment · 11 years ago
I've added the full quote to my post.
Comment · 11 years ago
Those skills would get you callbacks. The killer in South Florida, at least, is the "3-5 years experience" requirement so often seen in job postings. A nice portfolio could overcome that hopefully.
Comment · 11 years ago
>>Basically you should teach yourself how to build essentialy any CRUD app (blogs, wikis, basic twitter, news site, hacker news, reddit, etc). When you can do that, you're employable--and probably well above average, honestly.
That's a tall order to become barely employable. I'm guessing this is written from a Silicon Valley / SF market perspective?
Comment · 11 years ago
Amazing if it actually happens. I don't think basic income guarantee alone will get Greece's economy going. Sadly, the economic/monetary illiterates will blast the basic income for anything less that a complete economic revolution.
Comment · 11 years ago
And Project Orleans (http://www.github.com/dotnet/orleans) from Microsoft Research. Used by the Halo 4 team, it's a unique take using Virtual Actors.
Comment · 11 years ago
There is one major difference between households and sovereign-currency Governments: households can't create the money they use, but Governments can.
"So you're saying government debt doesn't matter? What about Zimbawe, Argentina, Japan, Pre-WWII Germany?"
First, I'm not saying that Government debt doesn't matter. Like all things, there are limits. What I am saying (and MMT says) is that there are conditions under which increasing national debt make sense - notably high unemployment and underemployment. ONLY the Government can kickstart an economy in this scenario. In those hyperinflation cases, you saw Governments whose debt was denominated by foreign currencies and they tried to print their way to solvency, which of course failed.
Comment · 11 years ago
The title of the article is actually: "Nobody Understands Debt". A few years ago I discovered Modern Monetary Theory (thanks Warren Mosler, Bill Mitchell, Randall Wray, Stephanie Kelton) and it really opened my eyes to the universal misunderstanding of national debt. It boils down to this: the household debt model does not apply to governments that issue their own currency (USD, AUD, JPY, etc., but NOT the EUR).