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Member Since 10 Sep 2008
Offline Last Active Today, 04:31 AM

Posts I've Made

In Topic: The Buffett Rule

Yesterday, 04:19 PM

I dunno how much she's worth now but Gina Rinehart used to be worth $20b.

How much physical money you reckon she has?


You're being precious, Leo.  Whether that money is folding plastic, cold gold, or spinning electrons is immaterial (unintended pun), and if you just dumped a sufficient quantity of any of those forms on the market out of nowhere you can sink it badly enough to need an extended period of recovery.  Kinda like water, it's necessary to life (economic, in this case), but dumping 20b litres (dollars) in one place without prepared drainage is going to fuck shit up for a while.


And you are partially correct, in that money is always being created, but that is not worth.  A can of coke was not worth less in 1950 than now - but it cost a helluva lot less.  That's inflation, and it's caused by money being created.  In the above example, you drop $20b in the local economy and prices across the board will go through the roof (at least until the flood waters have drained) because everyone and their dog has $100 notes to blow their nose on and the worth of things has to hurt pretty much the same.

In Topic: The Buffett Rule

Yesterday, 08:24 AM

Actually they're infinite by virtue of the fact that you can't assign a hard number to them.

Again, this is central to what my economics professor briefly taught us.


Your prof (and thus you as well) have a non-standard definition of "infinite".  "Infinite", in every use except mathematics means "of immeasurable magnitude" - which is most assuredly not the case in respect to money, assets, or indeed resources.  I believe the term you want is "undefined" or "indefinite", meaning "we don't know what this number is".


You can skip the "introduction to economics" lecture, thanks.  I have my HD already.

In Topic: The Buffett Rule

Yesterday, 03:27 AM

[money being limited]

Only in the physical and electronic world.

For example - asset appreciation.


I'm going to assume you meant "logically", rather than just limiting it to electronically, since accounting has been happening since the invention of numbers.


Asset appreciation and depreciation are accounted for in the economic model, and even if they weren't are still finite.

In Topic: The Buffett Rule

23 April 2017 - 01:16 PM

The money in the world isn't limited.


Yeah, it really is - or at least, it's supposed to be for anyone who isn't the US (because they're special). When it isn't that's how hyperinflation occurs and you end up with million-dollar toilet paper.

In Topic: taxes an gambling

22 April 2017 - 03:36 AM

OK... so, are you doing a job you bid for on Airtasker?   Does it also involve garnering a couple of hundred Facebooook likes?

Dunno 'bout likes, but it seriously involves some hardcore necromancy. (Check the date!)