Sculptor1 wrote: ↑September 19th, 2024, 4:32 amIn order to have a discussion, we need honesty, and your extreme political biases stand in the way of that. A philosophy forum ideally requires objectivity, not rabid partisanship. You keep (wrongly) assuming that I'm a Trump supporter simply because I don't blindly follow your preferred narrative. I am more interested in actual policy than personality games; I don't care about Trump or Harris, or Albanese or Dutton for that matter. Policy matters more than the sideshows.Sy Borg wrote: ↑September 18th, 2024, 5:05 pmIn order to have a discussion you might want to consider answering the questions, else we cannot move on.Sculptor1 wrote: ↑September 18th, 2024, 6:53 amI could just as easily ask you how concern over the largest debt in history, with massive repayments, is right wing propaganda (albeit sans your histrionics and poor punctuation).Sy Borg wrote: ↑September 17th, 2024, 4:47 pmSO you are saying that economists the world over, with few exceptions are all engaged in left wing propaganda, incluing the right wing ones?
It's amazing how many people are suckered in by leftists propaganda, always forgetting the lessons of history as if today's latest sensation was all that existed. The left also loves to smear centrists as right wing, as though anyone who doesn't blindly follow their blind biases is of the evil right.
Tariffs won't screw the US economy; that's just propaganda. Debt is the greater enemy. The US is already spending more on servicing debt than on its military or health systems.
DO I read you correctly?
DO you have any evidence for this.?
In answer to your question, First please desist from the ad homimen.
Secondly, I would have to ask when do you think I implied that the debt was right wing propoganda?
The propoganda aspect of my response is the false equivalence of modern economics with ancient, especially concerning the probles with price controls
And I hardly think that the Trump team would want to remind everyone of the debt crisis, since it was he that plunged the US economy depper into debt to the tune of $7trillion + causing the inflation crisis of the last 3 years, which the Democrats have had to bring under control.
Here is a chart of US government debt over time, already disproving your false claim that Biden/Harris brought the debt under control. I also note that you were either unaware of, or unwilling to admit, the impact of COVID during Trump's tenure: https://tradingeconomics.com/united-sta ... nment-debt
It's well known that history moves in cycles. It repeats. Price controls have been tried a number of times and it tends to end badly, unless they are finely targeted at monopolies.
It's logic. If you control prices centrally it turns businesses off, and you end up with supply shortages. The first merchants to stop supplying due to price controls will always be small businesses, because corporations can absorb government-mandated losses for longer.
https://www.aier.org/article/price-cont ... -evidence/
Price controls have long been studied by economic historians in the case of the French Revolution, many countries during and soon after World War I, the 301 AD price edict of emperor Diocletian, the Song dynasty’s 13th century experiments with paper money, and the attempt to quash inflation with price controls, and even the price and wage controls of the Nixon administration. All of them point to the same thing – price controls do not stop inflation; they only make things worse. If prices are going up, it’s either because monetary policy is too loose or because the economy suffered a decline in productivity. There is no way around it, and the only solutions are to tighten monetary policy or enact reforms that promote productivity growth. Everything else is a fool’s errand that ends in economic pain.