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This Week's Stock Market Sell-Off - From the Author of Economics in Atlas Shrugged

Posted by $ mshupe 4 months, 2 weeks ago to Economics
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"Socialism is an unnecessary but deliberately chosen virus, which many “humans,” historically (and philosophically), have preferred to its healthy, dynamic alternative (capitalism), and instead of being talked out of it or cured of it, are often tutored and goaded into endorsing it by malevolent, irrational social theorists, economists, politicians and demagogues."
SOURCE URL: https://comp.imfcinc.com/reports/2020.02.26-The-Equity-PricePlunge-Sanders-virus-Versus-Corona-virus(TCA)-C.pdf


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  • Posted by $ 25n56il4 4 months, 1 week ago
    I wish everyone would quit calling this crap Socialism and call it by its real name 'Communism'!
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    • Posted by $ blarman 4 months, 1 week ago
      Actually, if you look at history, the Nazi party was the German Socialist Workers party. It was called the Union of Soviet Socialists' Republic - the USSR. In Venezuela it is the Socialist party. There's no effective difference between the two.
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      • Posted by term2 4 months, 1 week ago
        but if you look at the movie schindler's list, the nazis were really fascists in that they relied on private business to do their bidding under state control.
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        • Posted by $ blarman 4 months, 1 week ago
          Show me the difference between fascists, communists and socialists. They all use the same tactics and have the same goal. I question that the differences are anything other than semantic.
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          • Posted by term2 4 months, 1 week ago
            They are all variations of collectivism.
            the way I understand it, fascism is where the government tells private industry what to do and how to do it, while leaving actual ownership in private hands. profits accrue to the private owners, but of course prices are set by the government.

            socialism is where the government owns the means of production and the people just run it the way the government wants. the government takes all the profits.

            communism is a system where the people form communes under worker ownership, but the government runs them and tells them what to do. "profits" are distributed in proportion to need.

            capitalism is where there are free markets and people do what they want, how they want to do it.

            I am not an expert of these definitions, but I think they are close enough. Today, we have a mix of capitalism
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            • Posted by $ blarman 4 months, 1 week ago
              Nice explanation, thank you. Not arguing with you, I just question if there really is any difference when it all starts with "government controls." Ownership is the property of control. Do you really own something if someone else has a preemptive claim on how you use it? I'd argue no... Thus my opinion that the differences are semantic and not actual.
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              • Posted by term2 4 months, 1 week ago
                I agree that when the government controls, you down really own it anymore. Like I can build a house with my money and the money I borrow, but it has to meet government codes, If it goes up in value I win in a way after I pay taxes. If It goes down in value, I get the shaft.

                WE still own smaller things in this country that they havent figured out how to control.through government tentacles. One could argue that this country is mostly fascist now, with a few smatterings of true capitalism, and some socialism. Not much true communism, since it fails so quickly.
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                • Posted by $ blarman 4 months, 1 week ago
                  Yep. Home prices where I live have doubled in the past five years - and so have my property taxes. Ridiculous given that there aren't many more jobs... Problem is people abandoning places like California where they can sell their home for a ridiculous price then move here - distorting our markets.
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                  • Posted by term2 4 months, 1 week ago
                    Maybe it really hasnt doubled, but the money has gone down. Prices do not move up all at the same time, however. Assuming that there was no more deficit spending (ha- like thats going to happen!!), all prices would tend to go up by the same percentage assuming that there were no utside effects like technological change.
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                    • Posted by $ blarman 4 months, 1 week ago
                      In my case its a regional thing. Of course I also think that California's markets are artificially distorted by government interference and direct manipulation so...
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    • Posted by $ 4 months, 1 week ago
      I'm not concerned about that so much. Even Rand admits there are different degrees of socialism, and in terms of values, they are all collectivism. The important thing is to understand and be able convey individualism as a moral ideal.
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    • Posted by term2 4 months, 1 week ago
      We really have a mix of socialism, fascism, and capitalism. Today its mostly fascism with government control and private "ownership"

      Sanders is right when he says we already have elements of socialism. Medicare for all would really be fascism in that it pays for services rendered by private hospitals and physicians. The VA would be true socialism, with the means of providing the services are owned and operated by the government.
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  • Posted by Dobrien 4 months, 1 week ago
    This was the most telling comment. “Only a socialist sympathizer could conclude, unabashedly, that the lesson to be learned by American voters, observing socialist China leak and spread a virus, is that they too should be ruled by socialists.”
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    • Posted by term2 4 months, 1 week ago
      I could agree that the chinese either a) accidentally leaked out this new virus because of their stupidity, or b) it was a test to see how far and fast it would spread.

      Either scenario is something a communist government would do. The only reason china is booming is that the government temporarily got out of the way of the chinese spirit and they can tap into the money the people generate.
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      • Posted by $ 4 months, 1 week ago
        Its not the only reason, far from it. They turned on the fiat currency spigot, took on tons of debt, gave huge construction contracts to cronies, and hired foreign expertise.
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        • Posted by term2 4 months, 1 week ago
          thats what the government DID with the tax money they got. As to debt, I agree that they are fooling everyone by the fiat money trick, which will come home to roost at some point.

          The chinese people are very industrious which I can attest to from dealings with them over the last few years
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  • Posted by term2 4 months, 1 week ago
    I think the sell off is the market assessing the risk of a democrat unseating Trump and what that would do the economy. It would be most disastrous for Sanders to win, less disastrous if crooked biden wins, and unknown if bloomberg wins.

    Personally, I think bloomberg is going to finance another run for Hillary as a way to reverse the horrow of the 2016 election, which was supposed to be hers. Will be interesting. No wonder the stock market is in turmoil.
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  • Posted by $ allosaur 4 months, 1 week ago
    Me almost a 73-year-old dino inherited a bunch of stocks five or so years ago that I'm going to pass on in my will.
    Every quarter I get a dividend check that helps with my pension and SS payments. BTW, doing taxes is a bummer.
    So I watch the share prices. They go up and they go down, they go up and they go down. And the share prices always will.
    Reminds me of climate change that is always changing.
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