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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: i-node who wrote (941386)	6/19/2016 7:07:41 PM
From: combjelly	Respond to of 1573096

Just read up on what he has to say about rent seeking. Google it if you must. You do know what rent seeking is, don't you? Don't you? Google it if you must. You seem to have no idea what it is and what it means. Adam Smith wrote about it extensively, though. I have provided many links in the past which you seem to have ignored. That is ok, but please stop claiming you know anything about what he wrote. You have just some cherry-picked quotes, probably by some bloggers who wanted to make a point to low information people like yourself. Being too lazy or intellectually limited enough to actually read it on your own, you relied on their propaganda. The whole point of mentioning Louisiana and Kansas is that they predicted huge growth when they implemented the policies you promote. Not only did they not get the growth you and others say is the direct result of those policies, things got worse. All the while their neighbors who didn't implement said policies but otherwise had similar demographics and economies did better. Sometimes a lot better. As has been pointed out repeatedly, going the exclusively cut taxes route lies economic disaster. Look at California. They cut taxes until their economy came close to crashing. Just cutting spending made it worse. It wasn't until Jerry Brown used a mixture of cutting spending and raising taxes that things turned around. You were predicting that California would be bankrupt when Brown was elected. Like all of your predictions, and I repeat all, you were so wrong that anyone with a shred of humility would have been embarrassed. But you don't have that much self-awareness, do you? Talk about being ignorant of the subject. You show little sign of understanding even basic economics. When you make a projection, which you often do, the exact opposite usually happens. You kept projecting hyperinflation would happen at any moment, when we actually faced deflation and a liquidity trap. That is because you took a basic concept, like essentially printing money which can produce hyperinflation in normally functioning economy, but showed no understanding that the economy had a $3 trillion hole blown in it and what that implied. So your lack of understanding of how economics worked led you to make a very stupid projection. And I told you so at the time.