SRS. Does ANYONE here understand Economics theory?

[Bedford Stye]

Truecel, I have no idea what actual inflation is, why it's important to be on the gold standard, or what Bitcoin is.

Much less micro macro economics theories.

And I never will

 

[Retardinator]

Read Mises

Gold standard is important because otherwise it's just paper money where the (((central bank))) decides how much it's worth

Inflation is when the money looses value, so it becomes less valuable. For example 1 bread equals 1 money, becomes 1 bread equals 2 money

 

[Retardinator]

also bitcoin is a crypto currency. The first one to be exact.
They were created after the ideas of Tim May, who was an anarcho capitalist and follower of Mises and Rothbard

They were created as a way to trade without having to depend on governments. It's completely decentralised.

nowadays most fags don't care though and nobody buys shit with bitcoin (except maybe drugs online). It's just retards who try to get rich with it, even though that's not the point

 

[Gutless]

Dk dc

 

[Balding Subhuman]

Inflation just means decreased buying power. Most notably it can happen because the money supply is increased which weakens the value of the currency. Also when there are less products and services available on the market and the demand is high then the prices of those products and services also go up leading to decreased buying power

 

[Bedford Stye]

Inflation just means decreased buying power. Most notably it can happen because the money supply is increased which weakens the value of the currency. Also when there are less products and services available on the market and the demand is high then the prices of those products and services also go up leading to decreased buying power

Covid...the gubmint just printed money out of thin air.

So basically, they stole it from rich people with cash reserves.

So, I know that much

 

[pixy.]

I have no idea what actual inflation is

When one monkey has one banana the banana is valuable because it's rare. When all monkeys have 100 bananas then banana has less value because it's not rare anymore.

why it's important to be on the gold standard

It's because it backs the currency with a tangible and valuable item. It just makes the currency Itself have more value. It also somewhat prevents inflation because every peice of money needs to correlate with a actual amount of gold the government holds.

Fiat currency, which is the main type of modern currency, is only backed by the government giving it value just because they say it does. The main issue with fiat currency is that government will eventually print to much of it to the point it loses value and leads to massive inflation. This has happened to every fiat currency that has been implemented through out history.

 

[M.Yass]

Use google

 

[thespanishcel]

Micro and macroeconomics are not very useful outside university so you're not missing much tbh. A large part is too theoretical, mathematical and with too many assumptions to be realistic. Only researchers and professors use that stuff. You cannot explain business cycles as if you were explaining physics, that's why economists many times do wrong predictions or cannot see recessions coming.

 

[Bedford Stye]

Micro and macroeconomics are not very useful outside university so you're not missing much tbh. A large part is too theoretical, mathematical and with too many assumptions to be realistic. Only researchers and professors use that stuff. You cannot explain business cycles as if you were explaining physics, that's why economists many times do wrong predictions or cannot see recessions coming.

Does a p.h.d professor in economics have a better chance of picking a stock....than a monkey?

 

[thespanishcel]

Does a p.h.d professor in economics have a better chance of picking a stock....than a monkey?

They might but again most of the ppl who have gotten rich with stocks don't have an economics background. They don't teach you that at uni, they teach you a shitton of equations and economic models that look very nice in theory but then are impossible to replicate IRL.

 

[Newton the 2nd]

Economics is fake jew science

 

[Epedaphic]

Read Mises

Anything specific from him that you'd recommend?

 

[Retardinator]

Anything specific from him that you'd recommend?

Human Action | Mises Institute

The masterpiece first appeared in German in 1940 and then disappeared, only to reappear in English in 1949. It was a sensation, the largest and most scientific

mises.org

 

[Epedaphic]

Human Action | Mises Institute

The masterpiece first appeared in German in 1940 and then disappeared, only to reappear in English in 1949. It was a sensation, the largest and most scientific

mises.org

Thanks

 

[Bedford Stye]

Adam Smith.

People being greedy is the best system..

 

[SIR ETHNICCEL]

Truecel, I have no idea what actual inflation is, why it's important to be on the gold standard, or what Bitcoin is.

Much less micro macro economics theories.

And I never will

just downaload school books about economics from 6th grade untill 12th grade . Then download the Uni cel economics book and I promise if they read them all one at a time you will understand everything

 

[PopeOfCope]

I understand that it's annoying how vidya is $80 and the game is barely finished

 

[Zogpilled]

also bitcoin is a crypto currency. The first one to be exact.
They were created after the ideas of Tim May, who was an anarcho capitalist and follower of Mises and Rothbard

They were created as a way to trade without having to depend on governments. It's completely decentralised.

nowadays most fags don't care though and nobody buys shit with bitcoin (except maybe drugs online). It's just retards who try to get rich with it, even though that's not the point

Yeah Bitcoin is a failure in that regard because people just exchange Bitcoin for usd in the end

 

[92 drowsiness?]

Everything is ass give up

 

[Bedford Stye]

just downaload school books about economics from 6th grade untill 12th grade . Then download the Uni cel economics book and I promise if they read them all one at a time you will understand everything

I took economics in university.

Got an a or b, can't recall.

The course was taught by a lawyer,

My conclusion is that nobody a fucking clue how it functions in practical terms.

 

[Old Ironsides]

Just reintroduce Regannomics again theory




over

 

[RemoveNormalfags]

buy high sell low

 

[Bedford Stye]

buy high sell low

This. Thank you.

All that theory means jack squat compared to real life wisdom and experience and common sense.