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Your day job.

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Re: Your day job.

Postby panda_jerk » 18 Apr 2011, 16:22

Much like politics:) Saturnz, I watched this movie called Zeitgeist (don't know if you've seen it) and it said that the economy is a lie because every note printed by the reserve bank etc comes out with debt attached to it because of the manufacturing costs etc. So its based on theoretical money that noone actually has. But what I want to know now is, if the money is all theoretical, where is the guy who says we are in a recession and also, as it is all theoretical, why can't someone just say there is no recession and everything goes back to normal?
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Re: Your day job.

Postby StaTriX » 18 Apr 2011, 18:44

^
lol that was in the past 0o. Best documentary ever really
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Re: Your day job.

Postby n0ble » 18 Apr 2011, 21:43

You can still theoretically have no money :P
Image
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Re: Your day job.

Postby themuffinman » 18 Apr 2011, 22:14

Lol Zeitgeist was a load of conspiracy theories etc..

Anyway, in before the big economics debate panda has inevitably started there, I blame the recession on China. Those communist, slave-endorsing bastards are gonna take everyone's money and cause major shit in future. Their increased expenditure on nuclear arms research and the government's massive amounts of crimes against humanity doesn't really paint a bright future for us considering they'll be the world's largest economy very soon.
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Re: Your day job.

Postby saturnz » 19 Apr 2011, 09:19

Panda, paper money has no value as such, just as gold has no value. The only reason why its used is because we attach value to it, if you consider R100 to have no value, then it will have no value, in the same way people do not attach value to zim currency but attach value to the US dollar.

As for the economic debate, there is no debate since you can't debate a topic by expressing an uninformed view.

For example, I won't enter into a debate about the merits of nuclear energy because I do not have sufficient understanding or qualifications to express a credible opinion. In a similiar fashion, I will not go to a mechanic to ask his medical opinion about a health condition nor would I go to a medical doctor for his advice on how to turbo charge my car.

And to take it further I won't even risk expressing an opinion on economics since it is too complex to fully appreciate all the forces at work and to formulate an opinion which encompasses all these things.

I don't think anyone currently practising economics knows exactly what is going on at the moment, which is why you hear the word "uncertainty" thrown into just about every statement released by one.
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Re: Your day job.

Postby panda_jerk » 19 Apr 2011, 14:04

So is the fact that paper money only has value because we assign value to it the same as saying that essentially the economy isn't 'real' per se but is real because everybody has bought into the concept? I know my view is uninformed as I have only done economics 101 and the only thing that stuck with me from that was There Is No Such Thing As A Free Lunch. But that's why I want to understand :)
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Re: Your day job.

Postby saturnz » 19 Apr 2011, 14:59

what is real and what is not real is an entirely different discussion

money operates in the money market with other financial instruments, it is different to the real market where goods and services are exchanged. Money enables these goods and services to be exchanged and the amount of good and services produced within a country is what the GDP tries to capture. The link between the real and money markets is through the interest rate.

Very basic and possibly an incorrect explanation but I'm waiting to go home now so my thoughts are not really here, I'm just burning time.

Anyway, the amount of real goods and services exchanged went down, real demand went down, which means the recession is real- if you are out of a job that is real, no way around that unfortunately. I hope that helps.
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Re: Your day job.

Postby panda_jerk » 19 Apr 2011, 18:00

It does thanks:) Makes more sense when you look at it logically then from some random tangent :D
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Re: Your day job.

Postby Kaktus » 26 Apr 2011, 10:46

I'm just an I.T/WISP technician in a small town... :mrgreen:
Oh yah and i work for my brother, you guys should now him.

His nickname is Disruptor :lol:
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