Comments by "Quizmaster China" (@QuizmasterLaw) on "What Causes a Recession or Depression?" video.

Yes, monetary policy absolutely can cause a recession; but that's not the only cause. Can also be caused by tax policy; usually tax and monetary policies are coordinated. But if we think of exogenous causes: disease is one, obviously, so also is war. Finally of course cataclysmic environmental catastrophes can cause economic downturn. The material forces of production can cause or cure a recession or depression; the structural relations of production can exacerbate or diminish a recession or depression. But in the dialectic of structures of production as opposed to forces of production it is the forces of production which generally determine. In other words: if everyone is dead there's no recession! MARXIST ECONOMICS AT WORK!
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though TIK's basically correct about monetary policy his view is also a bit simplistic (not taking into account taxation or even bond policies). Government has lots of indirect levers to influence the economy (prime lending rate, printed paper money supply, taxation especially, government owned businesses, trade policy, regulatory policy). These have proven in practice far more effective than "central planning" which is why all the Marxists regimes collapsed or were replaced by pseudo Marxists (China, Cuba, Vietnam). Can the government make an economy boom permanently? Yes! But it's tough because of exogenous factors like wars, disasters, diseases. There's no such thing as over production or under consumption btw. That's keyne's thinking and he's a retard (or a liar). Pick B!
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Stick to tanks: Just make certain they are made of GOLD! haha great video!
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TIK's gold bug hysteria is kinda the opposite of Marxists belief that the law of diminishing returns dooms capitalism to inevitable economic busts resulting in wars and revolutions. It's also comparable to Hitlers jew-bankers conspiracy theory. TIK: fiat currency isn't inherently horrible. It has advantages over specie currency otherwise it wouldn't be the dominant form of currency today. And likewise purely digital currency also isn't inherently horrible, otherwise China wouldn't be using it fairly exclusively. If you are unhappy with fiat currency as a store of value then by all means buy gold or houses.
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@TheImperatorKnight right we agree fiat is NOT a good store of value but that doesn't mean it isn't a great medium of exchange, which it absolutely is!
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You're more correct than most everyone else on these points btw. I'm a perfectionist!
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i often listen to people who tell me not to read because i don't want to pollute my mind with falsehoods and have great faith in common sense by not listening to others i avoid vaccinations which cause autism and measles
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the US government expected a return to the great depression at the end of the war. but it didn't because it was the only industrialized country left undamaged.
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@TheImperatorKnight I don't think it's realistic or possible to compare 1929 to 1945; or to say when, exactly, the U.S. economy recovered to September 1929. This is partly because of technological innovation but also because a war economy is thoroughly different from one in peacetime. If everyone is kitted up for a war sure they are "employed" but they are producing worse than nothing just burning resources and killing potentiall producers (the enemy). It's pretty obvious the economy in 1949 is MUCH better than in 1929. In the USA it is probably better by 1943. Britain took longer to recover due to greater damage and deeper debts. Just look at national debt to see how crazy WW2 was. The conventional argument btw is that WW2 ended the depression by creating full employment. Even (especially?) Keynessians take up that argument claiming it proves consumption can be stimulated and undertaken by the government and that such state enterprise and intervention can be good for an economy. Personally I am closer to Marx: WW2 ended the depression by killing off the unemployed and burning off surplus production. Which is very harsh, and only roughly accurate. Are soldiers employed or unemployed? That's the first question to answer to determine when/whether the US economy recovered from 1929. Lindy or Indy Neidell is completely wrong about this point but I don't bother to debate him he's that wrong. He imagines the interwar economy somehow recovered from 1929 which it didn't. I don't bother to try to refute it: Hitler ended inflation, created full employment, if you count soldiers as employed and dont' notice that whole "we're only building weapons to wage a war of conquest and exploitation" fact. Interwar economies NEVER recovered from 1929, BUT the nazi economy stage a real comeback, unless you were jewish and in part by expropriating jews, but mostly by prepping up for WW2.
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it rhymes so it must be true!
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@DankstaTV We have known money is a positive and not natural phenomenon since at least Aristotle. Money is only valuable because You value it.
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@TheImperatorKnight fiat currency is by definition backed by nothing but the act of the state (fiat) in emitting it. It's fine to say you only want/believe in specie based currency, only. Though, what happens when exogenous factors radically change the value of your choice of specie? btw which specie gold silver copper all those metals have been used for moneys shells and jade too in fact? Washington's monument is plated in aluminium, at the time the most expensive metal of all. Technical innovation made aluminum much cheaper than most all other metals. So yeah, fiat and specie currency are both affected by exogenous factors which are one of the many causes of recession, not just printing lots of money. Specie and fiat currency both have disadvantages. I don't expect governments to revert to specie based currency, not because they are a jew-bankers scam or because the communists were right and we must abolish private property; i expect no reversion to specie because it has more disadvantages than advantages for the government. I don't know whether Britons can lawfully emit pound denominated private specie, I've not looked into British currency and banking legislation. I am sure somewhere on earth you could find a government willing to permit you to mint precious metal as currency though to do so you would have to have more metal than you currently do since you seem to be concerned about making rent payment. I suggest emigrating to Australia, Canada, or the USA. Houses in the USA can be VERY cheap! Much less so in Canada but it's still not as bad as the UK. I would never consider seriously owning a house or even apartment in Western Europe.
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@Nuclear Confusion it must be terrible to champion idea after idea which has already failed in practice and have been universally rejected by central banks everywhere Including in nominally marxist and nominally socialist countries I guess just read Milton Friedman or even better Hayek until you figure out a) You are wrong b) No one does what you think they should because c) it's been proven wrong from bitter historical experience thank god you're not in charge of any economy anywhere.
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you can generate an inflation with tax policy, but it's really difficult to do. you can also generate an inflation by bond policies. though TIK is quite right, the principal cause of inflation is printing fiat currency.
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@DankstaTV if oil rises but nothing else does then that's not a general inflation; yes, oil/petroleum products are a primary good but substitutes do exist and the entire economy isn't hydrocarbon driven substitutes do exist. Inflation generally refers to the idea of price increases in all sectors of the economy, not a specific good, though you are correct hydrocarbons are a key input and an increase in hydrocarbon prices will increase prices in lots of other goods, though not all; in contrast printing lots of money will result in a price increase of all goods and that is what is generally meant by the term inflation.
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@DankstaTV in a fiat currency system the value of the currency is a direct function of the minimum wage. Raising minimum wage, or oil, or any other primary input is going to have an inflationary effect on the entire economy, just not quite so direct as literally printing money like is about to happen in the U.S. of A.
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@Charles Yuditsky I'm uncertain if you mean the most disastrous event = WW2. Frankly, European Jewry did not recover and never will. Instead however Jewish colonization of Palestine led to creation of an Israeli state. Russia likewise never really recovered. The USA had nothing to recover from. Britain recovered likely by the 1960s. UK was still rationing into the 1950s. This is a sad thing both for Jews and the Russians, but it is also a fact. West Germany I think had recovered by the 1970s, East Germany by the 2000s. I suppose Japan likewise had completely recovered by the 1970s. China also by the 2000s. These are Not rapid recovery times and 1) Russia will never recover 2) neither will European Jewry. LIfe goes on.
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