Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: mishedlo who wrote (88880)	10/21/2008 11:57:15 PM
From: arun gera	3 Recommendations Read Replies (1) of 116555

Mish, You are saying - central banks have socialist tendencies, that is, they are trying to create equality. While trying to create equality,they are causing imbalances, which is inequality. What a paradox! Real wealth and markets are created only by imbalances, that is an unequal distribution of wealth. This is the main incentive that drives people to work hard. Profit is just a mathematical concept that allows efficient operators to temporarily take advantage of the different negotiating powers (or the estimate of their negotiating power) of various participants in the market, until equilibrium is reached. -Arun >The greatest socialist institution every created is a central bank given the authority to create money. Instead of the price of lending being dependent on production and income, the price of lending is determined by bureaucrats incented to make that price as cheap as possible at all times. This does not create wealth, only imbalances. Real wealth is created only by production and production is a function of the real market seeking profit.>

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