Unemployed need not apply

[Muhammed]

With millions out of work corporations can afford to be picky.

And millions can unionize and say FU. You pay us or you do not exist.

 

[Toddsterpatriot]

The money supply dropped due to massive numbers of bank failures, not because of government intervention.

once every 2 years or so you make a mistake it seems. A great record overall. Banks failed because there was no money created by Fed. Bank failures were not caused by bad loans or something but simply because banks did not have enough money to pay enough depositors. They really had no idea how money worked then. Only Friedman figured it out and now it seems common knowledge among conservatives and most libertarians. Liberals totally lack the IQ to grasp any of it.

Banks failed because there was no money created by Fed.

Banks failed because loans went bad and then bank runs killed them.

Bank failures were not caused by bad loans or something but simply because banks did not have enough money to pay enough depositors.

Yes, Fed inaction guaranteed a depression.
That's very different than saying government action caused the money supply to shrink.

 

[EdwardBaiamonte]

dear, there was much more Capitalism then,[1929] than there is now.

100% stupid as always of course since then they shrunk or deflated the money supply 34%, and thus bankrupted millions of capitalist businesses and caused the Great Depression.

they shrunk or deflated the money supply 34%

The government did not do that.
They did fail to counteract the collapse of the money supply.

if the govt didn't do it who did given that only the govt created money??

you're saying they govt failed to counteract or print money but they didn't cause the fall in its supply beforehand too????

 

[Toddsterpatriot]

dear, there was much more Capitalism then,[1929] than there is now.

100% stupid as always of course since then they shrunk or deflated the money supply 34%, and thus bankrupted millions of capitalist businesses and caused the Great Depression.

they shrunk or deflated the money supply 34%

The government did not do that.
They did fail to counteract the collapse of the money supply.

if the govt didn't do it who did given that only the govt created money??

you're saying they govt failed to counteract or print money but they didn't cause the fall in its supply beforehand too????

if the govt didn't do it who did

When banks fail, the money supply shrinks.

given that only the govt created money??

That's your confusion, government is not the only creator of money.

 

[EdwardBaiamonte]

When banks fail, the money supply shrinks.
.

no it doesn't. a bank does not burn its money when it fails

 

[EdwardBaiamonte]

That's your confusion, government is not the only creator of money.

not the only creator but the creator who determines how much in total can be created or withdrawn.

 

[Toddsterpatriot]

When banks fail, the money supply shrinks.
.

no it doesn't. a bank does not burn its money when it fails

Yes it does.

 

[Toddsterpatriot]

That's your confusion, government is not the only creator of money.

not the only creator but the creator who determines how much in total can be created or withdrawn.

not the only creator

Who is the other creator, how do they do it?

 

[EdwardBaiamonte]

When banks fail, the money supply shrinks.
.

no it doesn't. a bank does not burn its money when it fails

Yes it does.

how??? If a bank loans me $one million for a business venture, the business fails, I don't pay back the money, the bank fails, but money supply stays the same and prices to not fall 34%.

 

[EdwardBaiamonte]

That's your confusion, government is not the only creator of money.

not the only creator but the creator who determines how much in total can be created or withdrawn.

not the only creator

Who is the other creator, how do they do it?

banks create money in a fractional reserve system but the Fed controls how much all the banks create to prevent deflation or inflation.

 

[danielpalos]

When banks fail, the money supply shrinks.
.

no it doesn't. a bank does not burn its money when it fails

with a bank; insolvency means withdrawals exceeding deposits.

 

[Toddsterpatriot]

When banks fail, the money supply shrinks.
.

no it doesn't. a bank does not burn its money when it fails

Yes it does.

how??? If a bank loans me $one million for a business venture, the business fails, I don't pay back the money, the bank fails, but money supply stays the same and prices to not fall 34%.

If a bank loans me $one million for a business venture, the business fails, I don't pay back the money,

Correct, so what happens when the depositor comes looking for his $1 million?

 

[SAYIT]

With millions out of work corporations can afford to be picky.

And millions can unionize and say FU. You pay us or you do not exist.

Employers always try to hire those best suited to their need - sometimes they have to take something less - and unions nearly always say "FU" ... so how does that work out these days?

Detroit Gave Unions Keys To The City, And Now Nothing Is Left

 

[Toddsterpatriot]

That's your confusion, government is not the only creator of money.

not the only creator but the creator who determines how much in total can be created or withdrawn.

not the only creator

Who is the other creator, how do they do it?

banks create money in a fractional reserve system but the Fed controls how much all the banks create to prevent deflation or inflation.

banks create money in a fractional reserve system

New loans increase the money supply, defaults decrease the money supply.

 

[EdwardBaiamonte]

When banks fail, the money supply shrinks.
.

no it doesn't. a bank does not burn its money when it fails

with a bank; insolvency means withdrawals exceeding deposits.

100% stupid and liberal of course since our subject is not what insolvency means but whether money supply shrinks when a bank fails. If you lack the IQ to know what the subject is you lack the IQ to participate meaningfully.
Does the liberal understand?

 

[danielpalos]

I believe the unemployed should have recourse to a form of minimum wage that can be applied for, simply for being unemployed in an at-will employment State.

 

[danielpalos]

When banks fail, the money supply shrinks.
.

no it doesn't. a bank does not burn its money when it fails

with a bank; insolvency means withdrawals exceeding deposits.

100% stupid and liberal of course since our subject is not what insolvency means but whether money supply shrinks when a bank fails. If you lack the IQ to know what the subject is you lack the IQ to participate meaningfully.
Does the liberal understand?

isn't a shrinking money supply implied when a bank runs out of money?

 

[EdwardBaiamonte]

Correct, so what happens when the depositor comes looking for his $1 million?

the bank says, Edward borrowed the $1 million to make widgets that nobody wanted to buy, Edward cant repay the loan, Edward's suppliers have your money, you are shit out of luck, but don't expect deflation because money supply did not shrink it's just in different pockets now..

 

[EdwardBaiamonte]

When banks fail, the money supply shrinks.
.

no it doesn't. a bank does not burn its money when it fails

with a bank; insolvency means withdrawals exceeding deposits.

100% stupid and liberal of course since our subject is not what insolvency means but whether money supply shrinks when a bank fails. If you lack the IQ to know what the subject is you lack the IQ to participate meaningfully.
Does the liberal understand?

isn't a shrinking money supply implied when a bank runs out of money?

no, a bank does not burn the money supply it merely loans it out to those who don't repay it, That does not change the money supply it just puts it in different pockets

 

[EdwardBaiamonte]

New loans increase the money supply, defaults decrease the money supply.

that would be true if the Fed didn't intervene to insure that money supply stayed the same; so you would say the Fed and the Fed alone determines how large or small the money supply is