24 Burst results for "John Maynard"
"john maynard" Discussed on Bitcoin Audible
"Unfortunately there are people who tamper with money and it's magnificent coordination process. Thieves tried to obtain money by taking it by force. Fraudsters obtained money by promising something in exchange and not delivering on the promise. There are lawmakers who think they can better coordinate human action by decreeing restrictions on economic interactions. And then there are the central banks who monopolize in control money itself. So that it's magical. Benefits are distorted destroyed or even reversed. We and our money have been under their control since nineteen seventy one with startling consequences for most people reading this. That means you've lived in darkness. Your whole life. Take a minute to think of the biggest goal of those who have taken over money. They claim that it is desirable. That money lose. Its purchasing power over time. If money isn't losing enough purchasing power quickly enough for them they intentionally take action to destroy its purchasing power faster. They claim this will get people to consume more quickly and this will be good for the economy. They use their control over money to drive unnecessary unwanted consumption in the short term by destroying people's ability to save for the long term. The father of their movement john maynard. Keynes justified this by saying and the long term. We are all dead in the long term we can and should thrive. We are not all dead in the long term for one we each live longer healthier and happier lives when we focus on the long term and are permitted to plan for it eating well and in moderation exercising developing preventions and cures for disease all extend our individual lives saving for the future. Let us live without anxiety over how we will care for ourselves. Later in life moderating short-term consumption preserves scarce resources in the entire environment for the future of all people who will ever live long term focus allows us to embark on multigeneration projects. These were common in the ages before central banks took over money now. The world has been stripped of them. Magic internet money can rescue humankind and the earth. Good money that allows humanity to coordinate its activities peacefully for the long term is desperately needed is good for individuals it is good for humanity as a whole. It is good for the environment. Bitcoin is this money. It is not controlled by anyone and it is designed to last for.
"john maynard" Discussed on Sean Carroll's Mindscape: Science, Society, Philosophy, Culture, Arts, and Ideas
"Yeah i say rational what i mean by rational formal rationality and by the way. It doesn't mean yourself interested either. That's the other thing people think if you it's rational means you only care about yourself. That's of course. Ridiculous of the only people who only care about themselves are sociopaths. Seriously i mean we all care about a wide variety of things besides ourselves for ten percent of the population that are real sociopaths and as a as a minor technicality. Here my impression. Is that if you have a consistent set of preferences that can always be modeled as you're trying to maximize some utility function even if that's not actually what you're doing. Just sort of a formal equivalence right right. That's the fundamental theorem of rational actor model. They talk about utility maximizing something. But it's all really that's not what's really going on. That's what's really going on is for mathematical purposes. It's really nice to have a function you can maximize your bringing the calculus and differential equations and all that stuff very happy but people are really doing is just having preferences. What's her transit. And one then you can build the utility function out of that. Yeah and and once you do that. That's when game theory becomes a useful tool. I mean maybe should talk a little bit about game theory. Probably people know what the words mean but this game theory really gives us a useful model for how people behave. I mean maybe you're saying that it does in the sense of this beliefs in preference. You know. i wrote four books on. No i think it's the along with the rational actor model or it's one of the central tools for behavioral Behavioral science Games used to be well. It started out with vanoy mon and morgenstern at at at princeton trying to model You know war games and poker. But it's it's the major development that happened in game theory. We really in biology when Maynard smith john maynard smith and price developed a game theory mouth game theoretic model to explain traits among the butterflies for Meeting space and it developed into a whole theory of what's called evolutionary game theory Which has i think the basis for understanding the dynamics of of behavioral behavior of animals and humans so it's used all the time in economics and biology. It's all the time actually in political science. Although there i hope we got time. I'll tell you there's some really funny things going applying to the sings like voting behavior But yeah game. Theory is very simple. It's.
"john maynard" Discussed on Factually! with Adam Conover
"Politically very effectively for much of american history. You can think about the new deal and the type state that was created by the new deal as a hybrid of keynesian demand management and antitrust aggressive antitrust enforcement. Those two things together really really sort of form the basis for the administrative state that develops out of out of the great depression and one reason why these two things seem to go together so naturally. These different factions fought for at different times for different reasons but they had this political lines that lasted for like forty years. And one reason that made sense because these people have been talking about this and and seeing these problems as somehow related and these factions working together all the way back into the nineteenth century. The original anti monopoly movement is is not just about corporate breakup. It's about worker hours and the eight hour day of all of these. These ideas are sort of working together. People are talking to each other about the book. Before you have names. Like john maynard keynes or joan robinson to to attach them to be formalized into these into these theories. So i think we're seeing under biden the revival of of that kind of new deal idea of democracy in government that has been out of fashion in both parties for for quite some time. I think it's come back into fashion in part. Because of presidential politics i think watching the primaries in two thousand sixteen and twenty thousand for the democratic party. Was you know these were very different. Events than presidential primaries had been over the course of my lifetime. But i think also people are just responding to events. It's it it is amazing. In a lot of a lot of democratic party thought particular on the left there are sort of these deterministic ideas about well under capitalism. You know everything is determined by at you. Know the forces of production and who owns them and so all of our ideas are dictated by some mechanistic force beyond our control. And i i look at the last fifteen years or so and i see events happening in the world. People changing their minds and responding to them and actually having new ideas on both the left. And the right. I don't like all the ideas that are people are coming. But but i think clearly people are changing their minds. And it's it's hard for me to believe that this intellectual stuff that the actual discourse about this doesn't matter in some way. I it seems to me that it really does matter. And it's particularly the leadership of the democratic party. Well it is surprising. Because you know you heard for instance in the last in the last campaign bernie sanders and elizabeth. Warren both talking about issues of of antitrust varying degrees. And you could be forgiven for thinking well unless one of them wins. It's not going to go anywhere. I mean biden wasn't saying that stuff on the campaign trail but then like he he is elected and he starts nominating all the people that you would think that they would have nominated he. Starts you know following up on at least some of these policies and yet. It's not something that i would have predicted until i until i saw. It happened and i think you're probably right. That the the the discussion about these things has actually led to changing people's minds. So now that that's happening i mean what are the possibilities for the future that you see. I mean like for the last couple of years break up big tech has been a motto for a lot of the people i've had on my platform various speakers. Have you know had been been banging that drum for example. Could we start to see..
"john maynard" Discussed on Newsradio 600 KOGO
"I'm ensconced in my garden tower with a bulletproof vest on Asking people. Why would you come downtown anymore? I don't understand it. You ought to see downtown Minneapolis. Really? There's an autonomous zone where George Floyd tragically died. No one can go in there. Not even an ambulance. People don't go there after dark for obvious reasons. It's almost like we're trying to be Seattle. Look out. Seattle in Chicago. We're coming after you Next. We're number one. We had a shoot out over the weekend. That's passe these days and the town is boarded up. You want to know why the cost of housing construction and lumber's gone through the roof? Minneapolis soaked up all the plywood that's called downtown, A Zay said. Last hours Rush has been talking about for the last year. We've lost control of our cities. We really have lost control of our biggest cities, and this is not Dissimilar. I remember And Mike Malone will appreciate this 1977 Yankees were in the world Syriza's and then 77. I think, Jackson. That was the year Reggie Jackson comes over to the Yankees and hits those dingers. Well, about three in one game, right, Remember, Remember it vividly. Jackson is in midtown or someplace in in Manhattan, and somebody pulls a gun on him. Crime in New York City before Giuliani was just like it is today. We're witnessing the seventies again. This is that seventies show inflation how labor shortages. Monetary expanse like you know, Love Lord John John Maynard Keynes could only dream of. This is a bizarre scenario. And yet here is the difference between today in the 19 seventies. In the 19 seventies, Americans understood something was amiss. They understood that that a 21.5% prime or inflation and 13% Or stagflation, which the games Ian said was impossible. You can you got to fight unemployment with inflation. You got to fight inflation with unemployment. The Phillips curve nonsense. That was all a bunch of hooey. The market's still believe the only way to grow the economy is easy money and inflation. So every time the Fed says, Oh, no, no, no, we'll keep the federal funds rate of zero. They go crazy when in fact, the way to fight inflation is to grow the economy. Economic growth is anti inflationary. And you, don't you? You can't have both inflation and unemployment and we had it during the seventies. And what made the Reagan revolution possible? Was you had a sense of what it meant to have a free country in the 19 seventies Still The 19 sixties and seventies, the S D s and the Black Panthers and the weatherman The weather underground. They were radical scene for being radicals. They were marks this violent thugs. Even John Lennon couldn't understand them. And now apparently, his son can't either. Sean, who issued a tweet will talk about a little later. The point being today that is the Democrat Party. The Marxists are ruling the Democrat Party. Whether it's the squad whether it's Chucky Schumer afraid of the squad, whether it's Joe Biden, Kamila Harris, Bernie Sanders, Keith Ellison, Tim Walz, Phil Murphy, Andrew Cuomo, Gavin Newsom. They are either terrified of the Marxists or they are one In the same And that's what makes me fear for the republic. We had a backlash in the seventies. The Marxists are doubling down today and these are the same people that were the apologists for China. Does a sympathize with China and with its ruling class and its command and control the manner that you have to, you know, round up and kill of you Muslims or you crack down on Hong Kong. That's just the way you have to do for society's sake. Freedom's got to take a back seat here. And so down. It's so interesting that this bombshell came out that it's a fascinating, fascinating bombshell. So bombshell it all Some of us were suspecting. This nefarious activity at Wuhan a year ago, But we were considered conspiracy theorist by Big Tech by the Washington Post, The New York Times, CNN, MSNBC and the never trump Blinking project. How many times can you be wrong and still have credibility? Russia's got another great take on this Wuhan lab theory and he got it before anybody else roll it. It is highly likely that the chai calms lied about this and said that it was non transmissible and they had it under containment to make sure people didn't raise hell about it on the streets of Wuhan. Because if people had raised hell about it on the streets of Wuhan that would have gotten out social media phones it would have gotten the Chinese Communist would not have been able to suppress everything. The mayor of Wuhan even suggested that the central government prevented him from revealing details about the epidemic until January. 20th. He knew all about it, but the child calm government. Beijing refused to let him Reveal details. Considering that the first public announcement came out of Wuhan on January 1st. We can assume that G Jing Ping had a sense of the danger before that in December. We know he did. So clearly downplaying the disease wasn't working, saying that it's non transmissible renowned container wasn't working because Wuhan was being devastated. So now it was time for the chai com Communist Party to get serious But how serious Would they provide full cooperation to the international community would being seen is the source of the virus hurt their international image. This is what they think about They did everything they could to hide the fact that this thing was theirs. They did everything they could to hide that it had a center that was Wuhan. This is they didn't cooperate because they didn't want their toe what people think there was saying that cooperate about There is nothing to see here was the child calm attitude now, many of you still okay? That's because they'd weaponized it brush and they would Okay if you want to stick with that do so. But there's more here. There's a darker dimension. Always has been talking about communist governments. The more Beijing cooperated. The less the disease stood to affect other countries. This includes countries China sees as a threat to existence, its existence like the United States, so why would China's suffer the effects of a pandemic? While others stayed safe and increase their strength relative to China based on China's own costly experiences, asking this rhetorical is there is no way if this thing Was real if it starts in a lab in Wuhan, and if it is this deadly virus, his theory is there's no way the Chinese air going to allow this to stay in their country. Only they're going to make sure they're not the only ones affected by it. Now this is still a distance from creating a weapon on purpose. His theory again here is that it happened. However, it happened in a lab, the wet market. They tried to suppress it. They tried to ignore it. They tried to act like there was nothing to see here, not contagious, not transmissible. But when all that failed because it was the exact opposite of what they were lying about. When they realized how deadly it Woz. The chai Kon government made a decision that they weren't going to be the only country affected by it because that would lead To a vast economic disadvantage if they were going to be hurt by this than by Delhi by gosh other nations were going to be Now, this theory of this is the way they think and act. Is inimical the human decency. But folks, they're communists. This is what you know We have not talked communism properly in the schools in this country for it least 30 years since the 19 eighties. And we have to consider that G Jing Ping and the Chiang Kam politburo. Came up with a way to share the effects of this virus with everybody else in the world to make sure they were not the only ones damaged by it. The way it's written here. Gee, Jing Ping has produced the greatest program of ethnic cleansing in the world. Today he's curtailed freedoms in China Severely. He's the father of the An optic UN's state. His incessant military build up threatens neighbors while using economic and other subversive means. To erode the sovereignty of countries around the world. We should not assume it was beyond his imagining to withhold the degree of support from the international community to ensure that China would not suffer alone that the words these are Communists..
Breaking Down U.S. Spending During The Pandemic
"The trillions of dollars that the biden administration wants to pump into the economy signal. The return of big government. I put this question to zachary carter. Who wrote a book called the price of peace. It's about the economist. John maynard keynes and the ideas that underpin our current understanding of what government's responsibility is in a time of crisis. Carter told me it's not really about big government versus small government anymore. It's about how the money is spent. There's always been at least over the last seventy five years if fairly large government but since the nineteen nineties there has been a different consensus about how we should organized that government with democrats moving closer to sort of the reagan conservative republican understanding about how how the state should be organized. And i think president. Biden's been pretty clear about wanting to turn away from that. He's hanging portrait. Fdr in the oval office. That's something new. So i think the size of the government is sort of a rhetorical issue. The real shift here is where the focus of that. Government is is directed.
Fisher Vs. Keynes: Investing Tragedy And Triumph
"Irving fisher was born in eighteen sixty seven in the town of saugerties. New york got his phd economics from yale in eighteen ninety one and for most of his adult life he enjoyed this almost unparalleled streak of success. Yeah not just as a great economist but also as an entrepreneur and investor. Tim harford is the author of the data detective. A new book that includes a chapter about irving fisher. He was the basically the inventor of what we now call the rolodex card filing system. That made him a multimillionaire. He was a diet and fitness expert. He published a book called how to live which was the freakonomics of its day. Only sold five hundred thousand copies. He set up the life extension institute. He was a campaigner on prohibition. He was a vegetarian. Assist an astonishing a prolific campaigner and thinker and he made a lot of money in the markets for a while as the stock market in the nineteen twenties was going up and up fisher was investing more and more money into it in fact even though he was already investing a ton of his own money he was also borrowing even more money to invest in stocks so that he could boost his returns fisher was just supremely confident about his forecast that the market would keep going up confident both in his own intelligence and also in the possibility of using data and statistics to predict the future. So that's where irving fisher was right before the crash of nineteen twenty. Nine john maynard. Keynes the other. Great economists of the era got there a little differently. Canes was definitely already considered one of the great economic minds of the time and just like irving fischer canes knew. He was the smartest guy in every room. He walked into same. Yeah me too something. We all share with gains right. But unlike irving fisher john maynard. Keynes had gotten some things wrong. By that point he had been humbled by the market before he had an early investment fund immediately after the first world war that just went went bankrupt and it was fine canes raise more money went back into the market. Got everyone's cashback. Everyone lived happily ever after but he had that experience going. Oh yeah. I thought i was smart on the market. Maybe i'm not smart on the market when the crash of one thousand nine hundred nine arrive. The stock market collapsed more than twenty percent in two days and within three years it had fallen more than eighty nine percent from where it was before the crash. Both and john maynard. Keynes lost a lot of money on their investments in the crash but there is a huge difference in how they responded so after the crash fisher kept doubling down on the same investments. He even kept borrowing money to invest in the same. Losing stocks for example fisher owned stock in a company called remington rand and right before the crash remington rand stock was at fifty eight dollars share but after the crash of two three months it was twenty eight dollars. A share and fisher was borrowing money and buying more shares at twenty eight dollars for years into the crash. It was one dollars a share. That is how to be a millionaire. Lose everything maybe fisher believed that his precious data just could not be wrong or that he could not be wrong or that. His self worth was tied up in this idea that he was right. Whatever the case he couldn't change his mind and he lost everything. Canes was different kane street at his failures as a chance to learn a chance to improve his process up to the crash he'd been investing based on his ability to predict the ups and downs of the whole economy. But after the crash he decided that that was just too hard to unknowable so he changed his strategy to investing in companies that he believed had good management and he thought would go up over time no matter what the overall economy was doing. Canes made a fortune for himself and for the endowment of king's college us money he was managing one of the things he said when he was trying to raise money from his own father was win or lose. This high stakes gaming amuses me. That's that's just an amazing linked to say when you're trying to persuade someone to give you money and yet in the end it helps because he just didn't take it so personally for the past few decades. A psychologist named philip tat. Lock has studied the behaviors that lead to better forecasting being very precise predictions constantly. Checking to see if your forecasts or proving true and updating your forecast if they are not true all of these make you a better forecaster. But tim says if he had to summarize. All of this research on a bumper sticker. Full cost is better when they recognized. They might be wrong and they are asking themselves. What am i missing. What perspective having tie considered. Who haven't i talked to that sort of almost paranoid suspicion that you might have messed up. And the willingness to change your mind that leads to much better forecasting you know it sounds so obvious. Just be able to change your mind and yet in practice. People really struggle to change their minds especially about their deeply held beliefs. That irving fisher could not change his mind and john maynard. Keynes could ended up making all the difference in how they lived the rest of their lives a few months after the second world war at fissuring canes both died fisher was alone and nearly bankrupt hitting bailed out by his millionaire sister-in-law and he'd completely lost his reputation as a result of his failed forecast. It's such a tragic end to a great career. Canes died a millionaire the most famous and celebrated economists on the planet and there is a quote that sometimes gets attributed to canes that. Tim also likes to remember him by. He probably never said it but he lifted which is when the facts change. I change my
[AI Futures] Steps Towards International AI Governance - with Futurist David Wood
"So David where I thought we'd start off here is around this broad topic of the governance of artificial intelligence I. think that there's concerns about the near-term around security privacy. There's longer term concerns about becoming more powerful people are thinking about should there be just regional surveys of governing technologies or or is it prudent to really think about global governance GM stance or way that you like to frame that problem? I'm all in favor of some local experimentation I. Think it's appropriate to have some things out to not obvious in advance that we can. Off. The Bat first time get a complete system of regulation. Correct. So I'm in favor of different parts of the globe whether it's the EU whether it's America whether it's China experimenting with a view to. Seeing which rules make more sense which rules viable. However, it has to be a stepping stone to watson envisioned global agreement because people will not surely be loath to commit themselves to that restrictions nationally locally if they perceive thought competition is going to be able to walk without these restrictions and get potential advantage. So we have to move into coast to international agreements to. Many people people are. Fearful of the any prospect of global government they feel that it's going to be d'italia -tarian or inch to wants the. Taliban. But what I will say is that we already have examples of global governance of various things. We have a sports organizations which managed to reach agreement on how the soccer football. World Cup is played. The Olympics Organization makes lots of agreements even though the constituent. Nations have lots of different political viewpoints and lots of different makeup. So there are examples of how useful agreements can be reached even between the ideological opponents. That's what we have to build on. I. Like the idea of local experimentation. It does indeed feel very hard to take a directly to the top okay world. Here's the page we're going to be on in terms of how data's treated or what is allowed to do or not allowed to do that Cetera. How do you see that playing out in terms of? Relative, near-term thinking about obviously the EU is they have their GDP are rules that are coming out. You see new sort of waves of these rules emerging in different countries than some observation by the global community as to how are they shaking out their implications for private sector innovation whether implications for human rights where implications elsewhere and then being able to use those as the experiments to build something more global. Exactly, right and the GDP aw in the EU is very important case point most people of mixed views about the actual implementation we often think, wow, this is clunky. This is A. This is poorly done on the the hind. We have sympathy towards what the rules are trying to do, and we say, yes, it is appropriate. Thought is the right to have an explanation. It's appropriate for people to understand how the data's being used and so on. So we can see that the intent is Goud. If maybe not. One hundred percent in agreement, but it's a starting point, but it is not something that's done once and then finished on the contrary. It's part of what should be an ongoing sequence my lendings in the Business World I spent twenty five years in the mobile technology and smartphones industry that was an industry in which there was a great deal of rapid change, their surprises of a new entrance of disappointments of things going wrong and. Then things going overwhelmingly right. My key lesson from all of that is the importance of agility the flexibility. Of course, you can set the overall long term direction, but you must stay get to that overall target in stages interim as moll steps, a new must be ready to your plan based on what you have lent in what new things become clear that were less clear L. ear on that face so we will get their stage-by-stage. I think politics the world of politics often seems almost like a domain were that innovation where in the private sector let's say is rampant stood to be the only game town isn't the only real game in town in politics to some degree because experimenting with fifty counties in Wisconsin, about how we're going to manage healthcare bills is really hard to do and seems somewhat viable as opposed to. Some big change for the whole state of the whole country and it just Kinda. Gets rolled out. Is there a way to sort foster a greater degree of this experimentation because it feels like at least historically, there have been limits to seeing politics as part of this iteration learning it's more of just clunking inevitability. It's not seen as maybe the global community is not look to aggregate policy as a way for us all to learn for us all to move forward. So ready to encourage that mindset in that learning like you saw in the private sector. One problem with politics is people really like to admit that they will wrong stu really like to have something a defied with them as being a failure whereas in business more people are willing to shrug and say, yes, dot to didn't walk as I expected and you know what analogy I'm wiser. And Business we talk about failing smart failing fast and feeling forward and it sounds like buzzwords. But all three of these things means something particular failing forward in particular means that you don't try and move on quickly and did deny the you ever were associated with such an experiment you say, well, here's what you've learned from it and you use that as a starting point for the next round of experiments but they politicians like to present themselves and we often as voters like to see all politicians is A. Superhuman Infallible Vegas and we need to have a much more human understanding of how politics works. So that's one thing that will help. A second thing that will help is more of a coalition that mentality rather than two different groups WanNa. The right and the other the laughed the Republicans at the Democrats or whatever politics is in my view much healthier when there are multiple different parties involved and where it's quite easy for people to move from one party to another as their owner. Viewpoint changes evolves over the time. So sadly, when two different blocks very adversarial. Limits the ability to have more meaningful and useful discussion. It pushes into their role in mental state as well. It puts into this tribal frame in which we often don't want to say something we think is true because it might be embarrassing for offsides. So instead, we latch onto something that makes the other side look stupid even though we may not fully believe it. So it's a very bad way of having a proper. Discussion. So sometimes I talk about we need more than just democracy. We need a super democracy. We need to learn how to have these discussions in a way that We're happy to admit that we've been wrong with hoppy to admit we've changed our mind after all to court the Economist John Maynard Keynes though he may not actually have said this when the exchange I changed my mind, the
"john maynard" Discussed on KSFO-AM
"Everywhere open right and they're still hoarding cash and reducing debt you could make that analysis but right now they're not out spending anyway you do versus unless they're buying it on Amazon well in California as what the largest GPA of like five like the fifth largest in the world right up of the family said health does the city California and politely showing there so and they're still shut down till the fall is what they're saying with schools universities so yeah so all that to say it's yeah it's not a correct analysis we look at it from well it went in and then let's let's let's go ahead and fast forward and try to apply the logic in a logical way rather than in a logical way let's say that Americans forever decide because they've been through this that we are going to be wiser and we're going to carry little to no credit card debt and we're always going to save money does that in fact crash the economy in truth it does not because here's the thing if households are stabilized through their own problems and through outside problems they continue spending savings stabilizers households if households don't have as much credit card debt you know what they have more money you know what they do is some of that more money they spend it so this is the same dumb but logic the people settle for everyone in America follow Dave Ramsey and didn't borrow money and save money American economy would collapse no it wouldn't collapse it would bloom because human beings would actually have more money because they're not giving it to banks and car companies human beings would have more stability in their lives because they would have savings and it would cause a boom if you used biblical principles for handling money which is saving money and staying away from that and so it's the same stupid idea that the consumer has a you know you have a opera patriotic our obligation to spend your stimulus check to stimulate the economy for scrap but I was gonna say that's like the number one argument right now or question or suggestion of when you get your stimulus check and I was like she gonna interview kind of got a little bit compare with the anchor because they're like no ritual it because im pei out your your four walls use that's a mistake for food dad gum family your house yes and and to build up a strong financial foundation for your family and then you have the confidence to go out as consumer to go and spend travel again whatever it is where your money is being where your money's going yeah and he almost like blue she was dying he was a great you're making my head spin right now I can't do it now or else when you go out and spend they need it they need help Jim you know stimulate the economy with this this is what that's been given to them unlike now when are freaked out with this and so you said it's for your own household so you're exactly right that when you have confidence in your own home then that's when you're going to go out and actually spend the money that you've earned you're going to go and even though you say it's for a new car you're gonna go out to dinner and do these things with the money that you have because you actually have the money and it goes of the reason that the stimulus passed so easily was several fold obviously people the politicians were trying to buy votes obviously people were very scared and they're trying to calm them down but the other reason that the stimulus passed so fast and so easily is the same reason that anchor believes that is that we have been taught in school our whole lives the Keynesian economics John Maynard Keynes invented Keynesian economics actually works which there's all kinds of data this is it doesn't work Keynesian economics is the government creates jobs and stimulates the economy it's whatever the are dead in the new deal he John Maynard Keynes convinced FDR Franklin Delano Roosevelt to get us out of the Great Depression by doing government make work and so they created the TVA they created all these big guys digging ditches in countries they created all these jobs that the government was paying people didn't have jobs to work and that's supposedly stimulated the economy out of the Great Depression however there's a very valid argument that no one talks about anymore the war war to actually got us out of the Great Depression not John Maynard Keynes Keynesian economics so this idea that government should interfere in the economy and stimulate things is so widely believed because it's taught as fact this idea of Keynesian economics and people I know that's what's called probably lesser econ student like me but the you know but but decide in basically John McCain is a socialist the idea that government is in control of our lives in government should be the nanny state and government should take care of us and all that and we argued about this a lot back in the two thousand eight crash the government has to get involved because of German roaches too big to fail we have to bail them out won't Norman Sachs is failing or that and so but but over in just below the surface.
Coronavirus recession is "likely," economist says
"What's the damage to the economy that we've suffered so far but it's primarily from the attempts to fight the virus rather than the ravages of the virus itself which includes kind of shutting down a lot thanks for in teens planned shutdowns you know businesses closing transportation and so on all those things are devastating global GDP and so the question is and you said the question twenty twenty is how are we collectively meaning the room the human race going to manage to fight off the virus as we must without destroying everything else we care about the economy our family lives and so on and it one of the interesting things about this economic moment and you quote mark Zandi well known guy over at moody's chief economist he says we could be moving from a self reinforcing positive cycle to a self reinforcing negative cycle and that seems to be such a key insight here because what is a recession recession is when you lose faith in the future and you don't invest for the future of your business you don't buy if you're a consumer you hunker down and that very active hunkering down which is trying to protect you from the recession itself can trigger the recession because what works for one family or one company doesn't work collectively when everybody tries to do what it wants is what John Maynard Keynes called the paradox of
"john maynard" Discussed on WCBM 680 AM
"As in the welcome back to the show I am the Derek hunter the one and only thing unless there's another one out there and then I feel sorry for you we're in a red you right up to the bill O. Reilly than to Rush Limbaugh and then on with your day on with your day and off with their heads or something like that Alexandria because he of course as we've already played a lot of lunatic Democrats out there but she's in a category all by herself she has this amazing amazing marriage between arrogance and ignorance she is just convinced she knows everything and she knows nothing and it's there's a customer of theirs constantly being reminded of what she does it now it's really is it's it's just nonstop screw ups gaffes embarrassing things things that would send most people to a mere going now man what did I why don't nine know that I feel like a fool for having said that but she doesn't doesn't have that inner monologue at all inner monologue is your height man her inner monologues like yeah you wreck heat you go ahead you're at you my god you're brilliant now I imagine that's what her inner monologue is now is that my god you're really my god there's nothing nothing you you know more than anybody on this forget what the professionals who started their whole lives of these things you just you you go Jeez that likes to tout herself as as you majoring in economics at Boston College Boston University ever wherever she went to school I don't want to embarrass the school she went to but they should be hanging their heads in shame that they let her out I think with the degree no less but that Hey there you go that's what we're dealing with over the weekend because mon many holes if it doesn't happen on social media did it really happen she goes on her Instagram every once in a while and thinks that the world just needs to hear from her as if her army of flying monkeys they they need their marching orders every once in awhile and so she does these long rambling video chats it's actually smart politics if not executed with any detectable intelligence do do constituent relations especially when you're you know sort of cultivating a a cultish fan base you wanna find ways for them to reach you and through social media is the way to do it so she does these things and she's talking into the camera which is her favorite thing to do ended allows her people can take questions I AOC how what should I do hear about how how do we save the planet world going to die we need the green new deal and and I mean that's the level of of sick of fan questions that she gets a rather unusual do exactly as I tell you to do and everybody pretends that she's smart well in the course of a chat over the weekend she said the and what kind of level is stupid this is a new level this is Olympic level of stupid first off not to just just a point of those of you who know economics you've undoubtedly heard the name John Maynard Keynes and you undoubtedly heard the name Milton Friedman you don't even have to have been an economist to know either or both of those names but to have studied economics one would think you would have heard of both of those names A. O. C. combined the two now there there could not be two more diametrically opposed economists John Maynard Keynes in early twentieth century economist believes that government spending was the key to economic prosperity basically it control economy government can control the growth of the economy through how much the government spends now to I guess maybe a hundred twenty years ago this would have possibly made sense to somebody it's essentially if you take money out of your right pocket and you put it into your left pocket my goodness economic stimulus that's essentially a keen zein economics means the government can take money from us and then spend it better than we can't and be a boon to the economy can do it short term in small bursts but it eventually does catch up with you because taking money out of your right pocket and putting it in your left pocket government taking money out of the economy and then putting it back in the economy doesn't work long term it'll help a particular industry at a given moment but as far as sustained growth that sort of has to happen on its own that's where Milton Friedman comes in Milton Friedman as the ultimate in a free market economists is there are videos out there a Milton Friedman where you just sit there and if you think I'm not gonna watch an economist talk about anything that would be just boring actually watching Milton Friedman I mean it was such a a dynamic person and dynamic speaker and able to put things in and such everyday terms that he had a TV show in the sixties or seventies brilliant brilliant guy I recommend you find some Milton Friedman look him up the Milton Friedman the pencil and just watch that video where he describes how capitalism is the only system under which a pencil could ever really be invented and happened and be manufactured and how it benefits everybody along the supply chain so they're they're diametrically opposed somebody you studied economics move fancies themselves an economist like a see you would think would know that these two are diametrically opposed well in her video chat she merged the two they they got married and Friedman took jeans last name apparently cut six here go ahead funny you ask this because I was just reading today about how melting Keane's a famous a condom is back in the day predicted that by twenty thirty US GDP would grow six to eight times what it is which would allow for everyday people to work fifteen hours a week as pushing for the fifteen hour work week wouldn't that be nice but a sushi merge them there and with the wouldn't normally I wouldn't fuss about this I wouldn't draw attention to it except for the fact that if a conservative if a Republican had made any similar mistake there is no doubt that the left would be piling on led by their queen Alexandria because he'll Cortez and I love holding people to the A. standards they hold everyone else too what also makes it bad is not just her economics study in college but the fact that she said she was just reading it that day just reading it and then there's the general stupidity of he was an economist back in the day and you have back in the day she doesn't have any idea what she's talking about on anything but again it's arrogance mixed with ignorance she later went back his Instagram because everything's politically correct these days puts up a closed captioning thing for all of that she went back and put a note on her Instagram saying that it was a type of that she knows that it was John Maynard Keynes and not Milton Friedman who is very different in the antithesis of what a see advocates and she doesn't want people looking up as he was she said that it was a type of typos again showing her ignorance typos are not verbal begin misspeak can't miss type with your mouth but that that's who she is then later on in the video she dragged her boyfriend out because she's a wide ranging rambling video shoot you know when mommy needs attention she goes on and collects all the positive comments from her army of flying monkeys your boyfriend is a guy named Riley Roberts and he's also a white guy the worst I don't know why she dating a white guy why she dating the devil and she turns to Riley this prototypical zeta mail and I asked him basically as a white guy money how can you as a white cat what do you do as a white guy to combat the racism which goes back to what Bernie Sanders was save a fundamentally racist to its coal country the left uniformly either believes are preachers this depending on the individual a lot more people preacher then believe it but a lot of people believe it so she turns to her white boyfriend and basically says speak on behalf of Whitey and tell other Whitey's how you can save the world from your ilk cut seven go ahead tell Riley what it's been helpful to you in combating racism I think it's helpful in them for and to talk to other white people about racism and I think a lot of people they don't want to be racist they don't think that they're racist but they also don't know some of the things that they believe or say are and can be racist and I think one of the like effective ways is just to talk and kind of help teach them about why some of the things they believe or say or think are wrong not necessarily racist but that they are wrong and that'll sort of like ship away and you know contribute to some developments in this area but not SO you take somebody from like being a racist and not being racist and it's just always being open to learning about racist things that we may have said or done without judgment and defensiveness these are conversations that you have while you're stoned and in college at nineteen years old these people are thirty years old and they're having this conversation here's what you should I think it's important important thank you pronounce the word important Riley and he's been neutered so what are you gonna do what I think is important you talk to everybody who's why because our races and tell them that their races and they should stop being racist and that's just the way not to be racist okay and people don't even know they're racists that's how racist they are and that's the way you do it he sounds like a valley girl really does it's it's less it actually sounds like a valley girl and **** head crossed so congresswoman AOC which is what I imagine she forces him to call her congresswoman LC I I used all the almond milk and I didn't get a chance to go to the store and I just wanna apologize to you as as a sister gender issue white guy that I would use the almond milk of a of a black or brown person and use it up without the foresight to go to the seven eleven and purchase Marc almond milk I just wanna apart because I know your morning coffee just isn't gonna be as as satisfactory as it should be easy okay I'm sorry about that I'm sorry my name is Riley and I just want to apologize thank you for loving me only the way you can and the in like a brother and accepting my suspicion nervousness and when we snuggle tonight can I be the little spoon again because that makes me sleep nice and thank you again the good thing about these two dating each other is they aren't out inflicting themselves on others randomly they deserve each other they absolutely deserve each other imagine turning to your white corporate how do you how do you how do you combat racism implicit in that is yours if you didn't keep your foot on the brakes of your obvious internal racism you would be out you'd be just this side of a Klansman so how do you keep a check on that Riley and then how do you go and cut a check on everybody else it just sounds like a lot of fun to be around at parties Hey Riley how's it going I'm doing well but it how about you if you really sat down and examined how you're inadvertently and a racist what not to do it as just I'm just trying to get a beer rolled right but do you understand the implications of that do you realize where that could lead is what if you grab somebody else's beer and what if that beer was brought to this party by a person of color or what if the beer was manufactured by a person of color and you you didn't even acknowledge that what if it was an indigenous persons did you ever stop to think of how many years of indigenous people you.
"john maynard" Discussed on KTOK
"Responses are yet Adam Schiff hit his star chamber folks are all releasing it leaking what the people are saying that actually bolsters their case at least in their mind it does the bottom line is is in twenty fifteen I guess John Maynard presented something in sign something they changed the rules that impeachment hearings should go on like they're doing right now did you see that do you know what that ruling was from twenty fifteen and do you think that Adam Schiff is doing the right thing or the wrong thing though he's conducting this well I I don't know the the exact rule that that job for a leader our speaker banner sign but here's what I know I'm a member of the oversight committee it is one of the three committees the Democrats have said we'll be in leading this and what they're calling an impeachment inquiry yeah it and and no point here has the house of representatives voted to have an impeachment inquiry which breaks from our typical tradition right but even of our democratic colleagues want to say look we're gonna have an investigatory process right because there's not a special counsel or something and we're gonna do it through these three committee I'm not saying I fully agree with that without voting in the body but even if they were going to do that here's my problem here's what was on display yesterday we can't see the transcripts of what these witnesses are saying on the one as you're on the committee so I can see the transcript I can be in the room yeah example my colleague Dan Crenshaw cannot I think that's wrong in importantly we have you we give you all even if you're on the committee and your force like I was yesterday to be in a subcommittee hearing that the Democrats sat and I had to skip the timetable for when we had a witness being deposed then I have to go to schedule a time to go seeing the transcripts I can't just walk down there go read about my pleasure even in the secure room the so called skip it as people talk boards not so called the skin as people over so at the end of the day if Dan crunch on the others who on on these committees are asked to vote on on a an impeachment upper down there one of the information that you have this information should be freely available your site this is a classified is it wise to being done in secret this isn't where we're talking about and are the nuclear codes right what that's right into the none of it's classified it should necessarily need to be secret away but your support it may be that my Democrat colleagues are going to release the transcripts in a week or two or a month it may be that they're going to produce a report and put their spin on what they took and in the findings yeah sure give us some chance to refer the committee Republicans you're there to present some sort of our story here's why it matters there's no reason why my Republican colleagues should be excluded from being able to see the transcripts in real time because the Democrats are trying to win a messaging war now they're trying to frame the narrative now by selecting leaking selectively leaking information controlling the narrative now they're in the majority I get it it's a strategic advantage for them but it is a process that breaks from tradition and it undermines I think the integrity of the body when we don't come together as a group and say look we'll have an orderly process for going through this but let's let's make sure all members know what I'm saying this by the way is a member who gets to go in the room yeah I think my colleagues who don't get to go in the room should be able to at least see the transcripts in real time so they can be informing themselves in real time oftentimes chip people are referring back to Richard Nixon I mean Corey van in the the investigation he wasn't actually in peace there was even a vote he left before all that happened he resigned but at the end of the day his attorneys were allowed to be there and actually take part because these are these are depositions these are just people talking to each other the I. depositions it's it's almost like it's a court hearing although it's not but in a proceeding like that doesn't the president who's American citizen get the ability to have due process and equal coverage under the law by at least having a representative there in that the suggestion that you who's on a committee you are representing him is on true you're not as lawyer shouldn't somebody from his legal team be allowed to be there well it's certainly given that the directed however is toward the president and our our constitution contemplates equal branches and so forth you would think the present an impeachment here would get the ability to at least have a lawyer they're watching what's happening in the right to at a minimum understand it listen to it real time right but you know at the end of the day I'm pretty sure my democratic colleagues know exactly what they're doing and they want to try to build the case as much as they can in aid of backing to be able to recreate an air to come out and have their nearly that they want to put forward right Republicans in the room we don't represent the president we represent eight hundred thousand constituents yeah each one of us and so we have our own of focus our own responsibility in so while many of us are trying to do our best to get to a level of orderly fair process frankly the Democrats control it no the one you're going to set the agenda and they're the ones that are making it this kind of secretive process I'm frankly at a time but you need to know yesterday was gonna get impeached I believe the house represented you're going to impeach him I believe that we know that when the beginning of two thousand seventeen that's what they set out to do I believe that's what they want to do I'll have more to say on the substance later I've been trying to be one of those people with hearing to my plans that I'll hold and not talk about the backs is I'm reviewing them because that's were supposed to do in the room one thing to say about this as soon as we're done these deposition I appreciate your brother stopping by do for twenty one Republican great that a Texas your thoughts on that we come back one eight hundred five zero one seventy eighty Joe packs dot coms their new one thousand K. message and data rates may apply earning your degree from one of the top business schools in the country might sound impossible to fit into your workload but what.
"john maynard" Discussed on KTRH
"Responses are yet Adam Schiff hit his star chamber folks are all releasing it leaking what the people are saying that actually bolsters their case at least in their mind it does the bottom line is is in twenty fifteen I guess John Maynard presented something in sign something they changed the rules that impeachment hearings should go on like they're doing right now did you see that do you know what that ruling was from twenty fifteen and do you think that Adam Schiff is doing the right thing or the wrong thing though he's conducting this well I I don't know the the exact rule that that job for a leader our speaker banner sign but here's what I know I'm a member of the oversight committee it is one of the three committees the Democrats are said we'll be in leading this and what they're calling an impeachment inquiry yeah no point here has the house of representatives voted to have an impeachment inquiry which breaks from our typical tradition right but even of our democratic colleagues want to say look we're gonna have an investigatory process right because there's not a special counsel or something and we're gonna do it for these three committee I'm not saying I believe re without without voting in the bottom and even if they were going to do that here's my problem here's what was on display yesterday we can't see the transcripts of what these witnesses are saying on the White House you're on the committee so I can see the transcript I can be in the room yeah example my colleague Dan Crenshaw cannot I think that's wrong in importantly we do we give you all even if you're on the committee and your force like I was yesterday to be a subcommittee hearing that the Democrats sat and I had to skip the timetable for when we had a witness being deposed then I have to go to schedule a time to go seeking the transcripts I can't just walk down there to read about my pleasure even in the secure room the so called skip it as people talk boards not so called the skin as he over so at the end of the day you've been crunch on the others warn on these committees are asked to vote on on a an impeachment upper down there one of the information that you have this information should be freely available your say this is a classified is it wise to being done in secret this isn't where we're talking about and of the nuclear codes right what that's right into the none of it's classified it should necessarily need to be secret away but your support it may be that my Democrat colleagues are going to release the transcripts in a week or two or a month it may be that they're going to produce a report and put their spin on what they took and in the findings and I'm sure they'll give us some chance to refer the committee Republicans you're there to present some sort of our story here's why it matters there's no reason why my Republican colleagues should be excluded from being able to see the transcripts in real time because the Democrats are trying to win a messaging war now they're trying to frame the narrative now by selecting leaking selectively leaking information controlling the narrative now they're in the majority I get it it's a strategic advantage for them but it is a process that breaks from tradition and it undermines I think the integrity of the body when we don't come together as a group and say look we'll have an orderly process for going through this but let's let's make sure all members know what I'm saying this by the way is a member who gets to go in the room yeah I think my colleagues who don't get to go in the room should be able to at least see the transcripts in real time so they can be informing themselves in real time oftentimes chip people are referring back to Richard Nixon I mean Corey van in the the investigation he wasn't actually in peace there was even a vote he left before all that happened he resigned but at the end of the day his attorneys were allowed to be there and actually take part because these are these are depositions these are just people talking to each other the I. depositions it's it's almost like it's a court hearing although it's not but in a proceeding like that doesn't the president who's American citizen get the ability to have due process and equal coverage under the law by at least having a representative there and that the suggestion that you who's on a committee all representing him is untrue you're not as lawyer shouldn't somebody from his legal team be allowed to be there well it's certainly given that the directed however is toward the president in our our constitution contemplates equal branches and so forth you would think the present and future here would get the ability to at least have a lawyer they're watching what's happening in the right to at a minimum understand it listen to it real time right but you know at the end of the day I'm pretty sure my Democrat colleagues know exactly what they're doing and they want to try to build the case as much as they can in aid of a vacuum to be able to recreate the air to come out and have their near that they want to put forward right Republicans in the room we don't represent the president we represent eight hundred thousand constituents yeah each one of us and so we have our own of focus our own responsibility in so while many of us are trying to do our best to get to a level of orderly fair process frankly the Democrats control and know the one you're going to set the agenda and they're the ones that are making it this kind of secretive process I'm frankly at a time but you need to know yesterday was gonna get impeached I believe the house represented you're going to impeach him I believe that we know that when the beginning of two thousand seventeen that's what they set out to do I believe that's what they want to do I'll have more to say on the substance later I've been trying to be one of those people with hearing to mine plans that I'll hold and not talk about the faxes I'm reviewing them because that's were supposed to do in the room but I wanted to say about this as soon as we're done with his deposition I appreciate your brother stopping by do for twenty one Republican great that a Texas your thoughts on that we come back one eight hundred five zero one seventy eighty Joe packs dot com stay here message and data rates may apply earning your degree from one of the top business schools in the country might sound impossible to fit into your workload but what.
Tension between allies overshadows NATO summit
"Matter NATO leaders have begun arriving full them me sing in a what would just outside of London that this morning so far still says that he had a very good meeting with president trump of while NATO secretary general Jens Stoltenberg is said there's nothing new in differences within the NATO alliance we saw some real differences on display yesterday for more we're joined by by bring back great today who's out that may save me sing a wolf and we just heard from Emanuel McCall now Maria who said that NATO should not only be talking about money it was the full out between mac clone and trump in the visible tension on display at the NATO meeting yesterday between the two that sort of taking the headlines so far just he's saying it's not just about money and that is Amaral micron of course the problem is that it's becoming very difficult to determine all the fallen takes from the treatment is for Donald Trump really is in many ways about money he's saying that NATO works wars before a denim because more countries are paying more into NATO he also says that it is serving a purpose because you're seeing more countries take a more active role as you can see why the two men are coming from two very different places and yesterday of course that was very all these one time said that my car had been insulting disrespectful that he had been very nasty to NATO when he said it was I do have to say however trauma one point call need obsolete so the French are wondering what exactly is the difference publications what is the you know John Maynard Keynes I believe that when the facts change I change my mind since I started a new you know at the beginning of his his presidency things have changed has GDP the defense and to be very Frank yes and I was at NATO yesterday they were having an event and many of the people I spoke to their weight and meet at will concede that the pressure from trump who openly said you have to pay up or we're not going to pay we're not going to pay for rich countries did force everyone to think actually has a point and we should make an effort a you're seeing gradually there's not many countries that hit the two percent target but you are seeing more countries he more or make an effort to ward that so that is something that need a would give credit to term for although they say he's ways are not the most diplomatic and when I spoke to John Stockton and I told him look trump is saying and taking all the credit for the increase in spending why are you not taking credit for it he just said I don't care how we get there what I care is that we have strong NATO and trump has made it stronger interesting that we've seen in this sense club is a big deal is that for some reason it's very fit for purpose president John a voice in saying this morning we are investing two percent of GDP in defense I think was a special event you can go to a nice if you are part of that company any stump that much images we got him Maria about what is being talked about behind the scenes and what speeches over the arrivals handshakes I know there's been some video said placing around Justin Trudeau and the the sort of behind the scenes Chad said has been happening between world leaders and add just to go back to the to percent yesterday trump said he would like some countries to pay four percent and this is something that is very confusing to people because they have no idea where he gets a number from in terms of today will there is a video circulating where you see Justin Trudeau macro and mark Rutan Boris Johnson himself and daisy appear to criticize leader they don't need that person but they do say well you know we were late because he took a forty minute press conference he always does as and so on trend has not really talked about this today and the focus on the ground is whether we're going to get a resolution in Turkey whether we get a communique by the end of this and of course China the U. S. would love for nature to toughen their language on China that feeds very much or would be very much into their narrative that over a long period of time China is the biggest threat to western
"john maynard" Discussed on WNYC 93.9 FM
"In just a few days anywhere in the world and when people really start to do this out for says he will be totally up and the way we think about our homes and offices when an architect is just kind of producing a hundred houses in a week they don't get to pay attention to every small little detail where is the person lives that lived there for years and weeks and months and so they'll tweak the house and that will change and they will learn how to use it say that from one of the interesting things about open source design is that you can almost think of it as a way of downloading a piece of design that already has embedded within it thousands of hours worth of attention well I'll tell you the idea is that you want everybody to have power in designing where they live how their committees are designed like that that they shouldn't just be something that is handed to them with that everybody has a chance to kind of participate in yeah this is fantastic quite which we think is from John Maynard Keynes it's this idea of it's easy to sit recipes and cakes and biscuits and that's really funny because on one level it so obviously true but at the same time it's not how our whole industrial economy works almost our entire twentieth century industrial economy with based around almost the exact opposite idea which is shipping around materials and products but the moment you could email a recipe to the other side of the world and then fabricator and replicated in a tiny workshop for karrueche to.
Scary Stories From The Eek-conomy
"We are exploring some of our darkest economic fears and our slightly worried about aliens from outer space in Nineteen fifty four in December nineteen fifty four there are a whole bunch of people in Chicago the Planet Clarion so this group called the seekers and they got a ton of media attention is looks like you know looks like Iran is in fact what they did was doubt that we people convince themselves of something the facts proved them you see right now in a political discourse is is a lot of people. I'm really afraid that the cognitive distances kicking in and we've splintered US oh that's poetic next up jared Europe some of the big important economies Germany in particular seems to be slowing down and markets will take care of themselves yeah there stoically very worried about over-heating about inflation Connie's is a way to really entrench these downturns or slow growth it's a prevention is happening exactly not only do you need an ounce of prevention space aliens too big economic fears because if you and I bought our own economic fears in fact this shirt and it's a picture of an inverted yield curve people make you healed off recessions to come right but also upside down words saying because the inverted yield curve does have a good track record of because it has such a strong track record it is a monster to me it is something that makes me worried with black pants and kind of green ish jacket I don't okay spirits is a term invented by the economist John Maynard Keynes to explain the role of emotions Jim shop because they're always like a billion costume places in New York that go into like any empty and you know this is New York Halloween subway in New York is always kind of a spectacle right everybody nobody was dressed up in the opposite I thought like what is going on so two years ago we spent almost ninety dollars per household on Halloween the sheer it's about spend extra money on a costume and then of course if people are pulling back on their Halloween spending maybe means they're the National Retail Federation reported that fewer people are celebrating Halloween at all dressed up and I found the Devin Miller you know our office manager like the sweetest the things in fact so I thought I would like bring him into into the studio and ask him like into work dressed up and then you like became discouraged and like just took off the costume that and then what happens okay so this morning I dressed up as a lumberjack my normal routine given the place ready for the day but it just I don't know I just wasn't feeling can't muster halloween spirit like that's a bad sign like I feel like Devon's always modesto all week like Jack Lynch and ready to go devon will you be our indicator lean close is our indicator for this Halloween. I think it's I think it speaks in
"john maynard" Discussed on KGO 810
"Can burn special on country music. read what our life long time in county. outlaw country was kind of cool that was part of like our country was like some kind of like rock and roll was to the fifteenth you know kind of country music. some phone calls in here again Ken burns really knocked into a last night ever hit a home run Martin higher on the chip. yeah I'm a musician I'm in my sixties now but I've been playing music since I was a teenager. don't really care too much for rap but I certainly think it's music thing with countries not really my dad but I can certainly respect the the great musicians that play country music I think once a pair of salt didn't didn't have harmony looking talk about vocal harmonies thought about the chord changes well sure I'm in the dark but if you're playing if you're playing a sea and I'm playing an E. N. somebody else's planet GNU break a core down I mean I mean that's that's a harmony and you get all right Michigan it has warrants it has you know I yes so maybe you're right I would not agree with you that it's not music but speaking of Shapiro hopping services on your show and debate of never up conservatives on your show debate why is that I've been in I've done this a long time I pretty much know what they have to say and I you know I I put all callers on effect the if the best way to get on the air to disagree with me generally but I get as far as conservatives when you're saying you're talking trump pers now you're talking about like if I were to tell me if. you wanna talk about Adam Smith verses the John Maynard Keynes I love it going to talk about the role of government our lives and you got somebody from reason magazine I love it you know but I mean I don't I don't consider Mitch McConnell conservative I consider you know Barry Goldwater conservative of course he's dead but you know I mean I you know and George will have a door I interviewed George will we had him on the air for half an hour you know I mean I do I mean is it that that the truth is is that this why short and and if they if they have something of value I mean I've read a lot and if I see something I things of value I mean I don't think. yes the answer for you know there's harmony for you right we have we. we do not you know I mean I just look at them as a B. flat in the key of a that's all. hi thanks buddy well all right. be fine see that's not a natural and anyway it on all right on the wiki has what what's the only key that as a final. F. V. sharp or be flat anyway are coming up the interesting what when you're talking about Democrats by the way it happened less than half an hour I have a major announcement that will blow you away nobody else has this and this is a major announcement about an icon in San Francisco that retired in broke everyone's hearts and is coming back in the next twenty five minutes I promise I'll have it for like a twenty five I about four fifty five okay about coming up next to John Nicholson the national join us we're gonna talk about is it what's more important for the Democrats right now style or substance is kind of cynical but we'll get to that. news time is four thirty can McAllister in today for Nikki Maduro Marin county man faces charges in the death of his eleven year old son during a boating accident your angel island Tiburon police say fifty seven year old hobby year Rio will be charged with vehicular manslaughter with the vessel and other charges cases drawn international attention because brio is a wealthy property developer from one of Mexico's richest families police say he was operating a boat while under the influence governor Gavin Newsom.
"john maynard" Discussed on C-SPAN Radio
"Giving you never giving in is not a principle. It's merely a manifestation of trade of stubbornness conceding convictions of honor and good sense, now that is a principal, you should never give in on principles hold your ground for so long as you remain confident that honor and good sense are on your side. But do not be reluctant to reconsider. And words attributed to John Maynard Keynes when the facts change. I change my mind. What do you do? Lawyers are trained to respect precedent, but we're also well-suited to recognize when president should be reevaluated. You should always. Keep an open mind about new facts. The second factor missed by the instruction. Never quit is the value of compromising when you can Thomas Jefferson putatively gave this advice on matters of styles when with the current a matters of principle stand, like a rock, the challenges to distinguish between principal and style between the things that matter, most and the things that matter at least we live in a messy contentious democracy at amok rec- is built on compromise. The constitution was the product of compromise, every law, reflects compromise, every relationship involves compromise. We recognize ABRAHAM LINCOLN. One of America's most principled leaders he never compromised on matters of principle, but Lincoln was a lawyer who gave this advice to his fellows. Persuade your neighbors to compromise whenever you can. Point out to them, how the nominal winner is often the real loser in fees expenses, wasted time as a peacemaker, the lawyer has a superior opportunity to be a good person, so you need to be prepared to compromise when you can do so without violating your principles. Of course, you will face pressure to compromise on things that matter most perhaps, even trade virtue for the appearance of virtue, but you should exercise caution when circumstances tempt you to disregard principles as Robert Muller wants said there may come a time when you will be tested. You might find yourself standing alone against those, you thought trusted colleagues, you may stand to lose all that you worked for it may not be easy. Call. Principles exist precisely for those moments you grow out and reflect on times when you stood firmly for what was right. Although it was painful and costly. The most difficult occasions may rank among your finest moments. So always keep an open mind. Remember the sex excess can only be measured over time. The rhetoric of litigation is warlike. It's about disputes battles victory and defeat, your client usually wants to win without regard to what Justice demands. There's a story about a man who's waiting anxiously to hear from his lawyer about the outcome of a case. The lawyer sends a three word message. Justice was done and the client replies in that case appeal immediately. See private clients do not pay lawyers to seek abstract Justice. They aim to win, but law is a profession based on honor. You can practice law only if you granted the privilege as the court, you may commiserate with clients when they lose, but you will not read when Justice is done even if it is done at your clients expense. As an officer of the court, your responsibility is to provide representation, but it is not your soul ethical duty. You also share responsibility to maintain the integrity of our courts and a foster public confidence in the judicial system that is part of our job. You need to take it off to join the Maryland bar. The fact you'll need to take an oath, every time you join a state or federal bar, and oath is a legally binding commitment, but lawyers, where so many oaths that sometimes we don't pay attention to what it is. We're promising to do. The bottle makes you an officer of the court it limits your freedom, and it is not merely a promise to perform a simple task like the oath. You take before testifying on a witness stand, you don't need to just say at once and then, forget it. You're borrowed comes with continuing obliga- Shen you need to obey every day. The Maryland state bar contains this promise I will at all times demean myself fairly, and honorably as an attorney. Keep in mind that initiative, the bar is a conditional privilege. And it comes with those obligations to conduct yourself with honor and to act like a lawyer many people are cynical about what it means to act like a lawyer, it's important for you to choose the right heroes. If you want to avoid cynicism ABRAHAM LINCOLN eloquently, defended, his fellow lawyers passionately supported the rule of law for the two decades before the civil war, Lincoln delivered a speech prophetically, titled the perpetuation of our political institutions. The year was eighteen thirty eight at the age of just twenty eight Lincoln was concerned about the rising passions in our young Republic political passions are nothing new in America, an aging thirty eight in his first published address Lincoln argue that we can best, preserve the constitution by enshrining respect for the rule of law in the hearts of the citizen. Let reverence for the laws implored be breathed by every American parent. That'd be taught in schools and seminaries and colleges. Let it be written in primers, spelling votes almanacs. Let it be preached from the pulpit proclaimed and legislative halls and enforced courts of Justice. Because all.
"john maynard" Discussed on EconTalk
"What once I started seeing the world this way to start to see it really everywhere. Things like we say with a straight face. Oh. We can't afford to have every household needs to be a two income household nowadays in order to make ends meet. We say that with a straight face where the richest people who've ever lived, we should have more leisure, not less of it and run able to see these things happening as irrational, which in some sense, they clearly are. All right. Of course of two people both wanna work. It's no problem. But if one of them does work for whatever reason either have to childcare, or volunteer or work on a hobby, in take lower standard of material well-being, that's all to the good, and yet, we talk about, as if it's quote impossible. Yeah. Now, the irony is way, back in the nineteen thirties, John Maynard, Keynes thought we were about to arrive at a place where we'd have solved the economic problem. And he and his concern was, what are we going to do with all this, abundant leisure? So whatever this thing is does. So Julius shores picked it up in the overworked American, and the overs, overworked American overspent American two different books talking about this phenomenon because it does suggest that the culture's getting worse on this dimension like over the decades. And comes to see more and more normal to us and the real tragedy is we are so very rich and yet we don't because the flip side of this is keep pursuing more and always feel that I have scarcely in my life. Somehow, I'm not seeing how much do have I'm not actually fully present to were enjoying the material goods that are right here in my living room. And so that's also to me part of the tragedy were missing the higher goods. And I think we're also not fully enjoying that lower goods that we actually have because there's something in this maximizing mentality that means you're always looking for the next step. And so you're missing happiness on multiple levels when when you try to pursue your life this way..
"john maynard" Discussed on News-Talk 1400 The Patriot
"And what that meant was that if you are on a coast the world it was open to you was vastly greater than the world. It would be open to you. If you were seventy five miles inland and accordingly. You know, the great rise of lessons civilization occurred on the coast at the time when people inland was still lagging way behind they never had the same opportunities with people on the coast. And there are many other settings you compare people who culture that arose and mountains compared to the cultures that rose in river valleys. The people in the river valleys almost invariably would not only be better off, but more advanced more knowledgeable. It was the world has never been a level playing field. That's what it all comes down to you. Also, say one of the most overlooked factors in socio economic disparities is demography. Oh, good heavens. Yes. It's like the ignored elephant in the room. If you if you want. Apple Hispanics are very much over represented among baseball players, especially among the star players. Now, if you wanted Mormons or Japanese Americans or our American Jews to be represented in major league baseball in proportion proportion in the population. You have to take into account all three of those groups have a median age of about fifty years and Hispanics have a as somewhere in the twenties now minute in their fifties. Do not play major league baseball as well. As men in the twenties. No matter who what group. You talk about the prevailing view used to be about why they are despair. It outcomes is Unix mentioned that John Maynard keys. I didn't know this until I read your book was the founder of eugenics society in Cambridge. Professor take take a break. We're gonna we're gonna do this on the other side. I want you to get into this John Maynard keys with one of the founders of the genetic society, Cambridge University and a bunch of other intellectuals. Tom so rights believe that the reason for outcome differences was because of genetic differences, we're gonna talk Tom saw- about that the book is called discrimination and disparities, it's up on larryelder dot com. Do not leave town all across America..
"john maynard" Discussed on 860AM The Answer
"Days of the Roman empire. You could transport a cargo from one end of the Mediterranean Sea to the other. This is more than two thousand miles for less than they would cost the cart that same cargo seventy five miles inland. And what that meant was that. If you're on a coast the world it was open to you with vastly greater than the world. It would be open to you. If you were seventy five miles inland and accordingly. You know, the the great the rise of lessons civilization occurred on the coast at a time when people inland was still lagging way behind they never had the same opportunities with people on the coast. And there are many other settings you compare people who culture that arose and mountains compared to the cultures that rose in river valleys, the people in the river valleys almost invariably. Would not only better off, but more advanced more knowledgeable. It was the world has never been a level playing field comes down to you also say one of the most overlooked factors in socio economic disparities is demography. Oh, good heavens. Yes. It's it's like the ignore the elephant in the room. If you if you want, for example, Hispanics are very much over represented among baseball players, especially among the star players. Now, if you wanted Mormons or Japanese Americans or our American Jews to be represented in major league baseball. In proportion in proportion in the population. You have to take into account all three of those groups have a median age of about fifty years and Hispanics have a median age somewhere in the twenties now minute in their fifties. Do not play major league baseball as well. As men in the twenties. No matter what what group they are. You talk about the prevailing view used to be about. Why are despair it outcomes is eugenics and mentioned that John Maynard keys? I didn't know this until I read your book was the founder of eugenics society in Cambridge a professor take take a break. We're gonna we're gonna do this on the other side. I wanted you to get into this John Maynard keys with one of the founders of the genyk society, Cambridge University and a bunch of other intellectuals. Tom Tommaso rights believe that the reason for outcome differences was because of genetic differences. We're gonna talk Tom saw- about that the book is called discrimination and disparities, it's up on larryelder dot com. Do not leave town all across America..
"john maynard" Discussed on C-SPAN Radio
"American guarantees to France, for example, agreements about colonies agreements about mandates even agreements about things like international waterways, an international aviation. And so collectively what happened in Paris? The Paris peace settlements. But what I'd like to do is concentrate on the treaty of Versailles. Because in many ways, it was the most difficult to negotiate Germany remains the biggest of the defeated powers. And it is the one that has tended to be blamed for the slide that the world took towards the second World War in one thousand nine the nineteen thirties. The common view the treaty of their Cy. I think is still very much influenced by a polemic written by John Maynard Keynes, the brilliant young at that time, British economists who was part of the British delegation to the Paris peace conference of nineteen nineteen he became disillusioned with the decisions that we made in Paris. And in the summer of nineteen nineteen wrote very quickly insects weeks a book that is still in print. It has gone through many editions. It has been translated into many languages. It has a very boring title, the economic consequences of the peace, but it is absolutely inflammatory in its depiction of what was happening in Paris. He portrays those three great peacemakers, the three great figures who are at the heart of the Paris peace conference as stupid shortsighted vindictive or mixture of whole three George Clemenceau, the French prime minister, he portrays. As the nearest scenic ape who sits in a chair with his hood is thinking only in destroying Germany, Lloyd, George, and he actually cut some of the router bits of about Lloyd, George the British Prime minister out of his book. His mother said it was a bit unkind. And so he took some of the root of that site. But even the bits that remain pretty pretty vicious. He describes Georgia someone is not really human at all low Georgie says it's half goat half. Man. He comes out of the mists of Wales a magician weeding. His spells around the Clemenceau, the eight the chimpanzee and Woodrow Wilson, the American president who we portrays a booby someone who.
"john maynard" Discussed on Talking Politics
"It had a fixed exchange rate system, and it created the international financial institutions, the IMF and the will Bank. I think that if it has an idea at it's har-, it's an American idea as the idea of how it the white who was its fundamental architects, even though John Maynard Keynes would like to think then he was would've liked of. He was and that is that the world needed to move back to exchange rate stability, and that it needed a trading system that was compatible with exchange rates to -bility, and that meant that the dollar had to be the centerpiece of the new International Monetary world. And that the dollar was going to have this privileged position in which by it. It alone was going to be convertible into gold affixed right for is it fair to say that it replaces the gold standard with the Dulles standard. It is an in the sense that the gold standard ended up cooling significant problems for the United States and frontier Roosevelt when he came into office made a priority to take the United States off gold. Although it is also the case that if you'd asked the European countries, particularly the British government and British officials what the problem with the ghost is they would have said in significant part American monetary leadership. But the go son of the inter-war years did not make the dollar the currency of international trade effectively words does might the dollar the basis of international trade and it tries to preserve some idea of a currency. That is still backed by metro we live in a world in which none of them all the that hasn't been given up on the idea that goes to has to play some part in the system is still quite important to Harry, Dexter white. But it has to be in his. Mind a trading order in which the dollar is importing currency and just the idea of paper money backed by metal is the basis of that that you can't just come to latte of thinner, but you can conjure paper money out in. And so the point of gold is to prevent the printing of money and the value of money. Yeah. I think that is really quite interesting question. Why dexter? Why was as keen as he was in maintaining gold as part of the system because in an important sense. The introduces the fundamental contradiction into the system by making Donna gold the basis of Bretton Woods because what it means is in this becomes quite clear. Really by the early nineteen sixties you end up having to choose between two problems. You have a world in which the of dollars in terms of those that are available to non American states or you have a world in which there wasn't enough gold, and it's one or the other. So I think the system in this sense does have a fundamental flaw to and the decks to work was proved wrong. I think in thinking that the two ways of doing it reconcilable with each other. So it's a kind of extension of some of the goals done it ideas, but it's also meant to be fundamentally different. And in some ways more flexible, right? It has moved flexibility in it than the the previous system, which seemed to offer this binary choice between discipline and collapse. Yeah, I think that that is one way of looking at it. Because in the end what happened with the Goldstone that is states. She say had to choose to maintain their currency against gold all the ended up leaving it and the point of the fixed exchange rate system in Russia woods was that. They would have the option of being able to revalue that currencies the caveat to thinking that it simply a choice between sort of chaos and instability is the ability of states to devalue was in any meaningful sense subject to American vita. So. The soap in the point of view of the Americans. It was in some sense a way of reducing the ability of other states to devalue against their currencies because that is what they ended up with a conclusion as why they didn't like the gold standard because you could actually spend your convertibility under the gold standard. So about by nine hundred thirty three say, look, these states can devalue they can just go off golden they're screwing over by doing..
"john maynard" Discussed on The Dan Bongino Show
"More dollars because the price went up. But remember when you a lot of money, it also makes the value of your debt, go down because of the purchasing power of a dollar goes down, and it's worth less, and you owe a dollar than it takes you less the pay back because his worthless. So debt is just a really bad thing. And the way to get rid of it is to inflate it away the dollar's worth less dollar. If debt is worthless. It gets easier to pay off governments Joe said to me during a break. We just took there. Governments loved it. They loved that debt is this is what they thrive off governments loved that. Because they love to spend money. They don't have and the they don't wanna have to rely on a tax base. You know, it's like that old that old line by John Maynard Keynes where he was talking about how they're basically two ways to tax economy. If you wanted to tax twenty five percent of an economy. This is a this is a great one. John Maynard Keynes was a disaster. Otherwise, dead did understand that what inflation and debt means beats the government's. He said if you wanna tax on economy and tax citizens, you wanna take basically twenty five percent of what citizens so there's two ways to do it. The first way is the tax twenty five percent of every dollar your citizens make right if you make a dollar and a quarter of that then that's the government taking twenty five percent. But he's like there's another way to do with this, really brilliant. If there's say a dollar in circulation, and then the government just prince another thirty three cents up and takes thirty three cents. They print it and spend it now the economy would have a dollar and thirty three cents, right? They had a dollar the government printed thirty three cents more. There's thirty three cents circulation, but it's not in circulation. The government prints thirty three cents just spent thirty three cents is rough. Fli a quarter of a dollar thirty three. Then nobody even knows you like, that's great. The government just printed my enough to take it out of my wallet. But they did. Because now there's a dollar thirty three eventually circulation after the government spends it which makes your dollar worth less because there's more money chasing the same products. I can't say this enough. So that's pathway to government inflation and of all people John Maynard Keynes, the founder of the liberal school of economics. Basically is the one who shows us exactly how that works. Now, here's the good path. You're like gosh. What are we going to get to the good news? This sounds really horrible. No. We are. This is good news. The good news is as I've said to you before the Trump economy, and I do tribute this Trump because I can't stand a lot of the swamp. Rats up on the hill. What are you laughing at back there?.
Mark Twain: great novelist, horrible investor
"Twain also invested a lot of money throughout his life though, and he is the first person who's big investment mistake Michael told us about, and actually in the case of twain, it was more than one he made every mistake in the. He was addicted to entrepreneurs. He would fall for anything. He would back any idea. He dabbled in stocks and silver mines, and gold mines. And he just everything he touched, went south twin was like an early version of a venture capitalist. He invested his money in a bunch of new kind of faddish ideas except he was terrible at it. He put his money into milk powder, extract railroad stocks a startup insurance company. They were all disasters and the one big idea that he chose not to put his money into you that he passed up when you had a chance. Alexander Graham Bell telephone, oh, which would have made twain a fortune between biggest mistake. Michael says, might have been throwing a lot of money at this big typesetting business, and it had to do with this machine. The twain hoped would be used by newspapers and publishing companies and twin kept investing more and more and more money in this typesetting business, even as its loss. Were just piling up on his biggest mistake was that he didn't know when to say no moss. I'm not going to continue to fund this really bad investment. Why do you think he could not walk away a, he was human and we all have our our flaws and limitations, and there's something called revenge trading where if you lose money in a stock, you want to win it back the same way and he just could not control himself. And I think that a an underlying theme in this book is that discipline and self awareness is a lot more important to determine your long success than just ro IQ, revenge. Tradings like the worst sequel to a movie ever. Trading revenge, trading revenge of the trader. Poor Mark Twain. Yeah, twain ended up losing an amount of money on that typesetting investment that would be the equivalent today of millions of dollars, but not knowing one to cut. Your losses is actually not the only lesson that we should take away from the story of Mark Twain's terrible investment record. There's another lesson which is at you can be amazing world class at this one thing. Just like Mark Twain obviously was at writing and still be terrible, horrible hopeless at another completely different walk of life like investing or that you can be really bad at investing and still be a really wonderful human being a light in the world gift to the country, all those things. And just I like that change the perspective. Very nice, right. And just like just maybe just, you know, put it in index funds, just put it in index funds next up the oracle from Omaha himself. Warren Buffett's buffet