Big Think

Gnos Grajab commented on Making a Difference on December 13, 2008, 4:48 AM

For exploration purposes, let's assume it doesn't; that nothing you do matters in the least and all your actions are completely ineffectual. Question: Would that stop you from trying? Would you just say, screw it, and have fun, do whatever you feel knowing that nothing you do will matter? Is an action only worthy of effort if the results are what you intended? I think I would try to make a difference anyway. I think I'd try to do what I can. I think I'd find meaning and purpose in the attempt, not the outcome. So for me, I don%u2019t think it matters.I think if I wanted to do whatever I wanted, and not care about the outcome, it may be convenient to convince myself that 'making a difference' never makes a difference, but it would be more honest just to admit making a difference is not what I'm about. It takes all kinds.

Gnos Grajab commented on Austrian Economics on October 28, 2008, 5:42 PM

I'm confused again, sorry it happens so much. :)Doesn't our banking system use fractional-reserve banking? Doesn't this have the affect of limited money creation, dependent on the fraction reserve rate?

Gnos Grajab commented on What happened? How did we get here? What went wrong? on October 24, 2008, 5:44 PM

err "will result in increased unemployment, raising wages" was supposed to be "will result in increased employment, raising wages"

Gnos Grajab commented on What happened? How did we get here? What went wrong? on October 24, 2008, 4:51 PM

Ok, still reading up and trying to digest it all, but I read an article today:http://biz.yahoo.com/cnnm/081024/102408_fed_outlook.htmlAnd I gata ask, WTF are they thinking? As I said, I'm still trying to get a grip on all of this, but this makes no sense to me. The supply side economics, that we've been working with for some time, assumes that in increase in production (due to increased funding of the productive elements of the economy) will result in increased unemployment, raising wages enough to support the demand for the new products.Investment -> more products more jobsMore jobs -> increased wagesIncreased wages -> more consumer buying powerIncreased Consumer buying power offsets the increase in production.. everyone's happy, Whoot!This all breaks down if the majority of our products are being created overseas. The job creation is abroad and neither increases wages nor consumer buying power here in the U.S. Yet the fed is dumping even more money into the supply side when, it seems to me, a large part of the problem is lack of consumer buying power. Giving banks more money to loan at cheaper rates is not gana prevent the loans, they already have out, from going bad. I must be missing something..?

Gnos Grajab commented on Speed Greed,How do we get rid of it? on October 23, 2008, 5:14 PM

I'm not religious but I think religion can teach us some very valuable lessons. In the bible, greed is a sin, and I think there are good reasons for this. We really need to rethink our modern values. I feel for those that are being hurt by this economic crisis, but things have been out of hand for some time, so it had to happen, and I'm glad it is.