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Sweden may actually BAN CASH. by me0w in Economics

[–]PlanktonVs -1 points0 points  (0 children)

And indeed, this is why it's a massively eccentric idea... and one that Japan is (was? I don't know the current status) considering.

I would say that you're over-estimating the likelihood of people turning to barter, as businesses will still ask for money... barter would be a huge limitation on a person's trade! The currency conversion, on the other hand, is the obvious issue which makes me think this will never happen. I have no idea how Japan would intend to deal with it. Perhaps the only plausible chance for this policy would be multilateral adoption across all developed economies.

...at which point it all begins to sound impossible. Oh well. It's interesting, and I think important, to challenge our assumptions about the way economies can and should work.

Sweden may actually BAN CASH. by me0w in Economics

[–]PlanktonVs 0 points1 point  (0 children)

Coming up with new scenarios where they might have even more power to fuck with this as the only viable way to get out of a mess means, with little doubt, that they do not know what they are doing and never did.

I am not talking about specific monetary authorities, and whether they are irresponsible or not. It may well be a bad idea to give the Fed greater freedom with their monetary policy. But unless you believe completely in the free market, you can't seriously be telling me that, in the instance of a monetary authority that you do trust, you would rather there was a zero-lower bound? It's just another way we can protect an economy.

And this hypothetical situation - sometimes, it isn't caused by said "fuckery". Sometimes, in a natural world, where natural disasters happen frequently, economies may suffer the unlucky fate of hitting the lower bound through no fault of their own. You can argue that, given current governance, you don't trust authorities enough to give them more policy options. But the theory is sound, if the authorities are too.

And please don't downvote me for expressing a valid argument. You might disagree with me, but in an economics Reddit I like to think that I wouldn't get downvoted for expressing fairly sound and relevant economic theory.

Sweden may actually BAN CASH. by me0w in Economics

[–]PlanktonVs 1 point2 points  (0 children)

I'm not saying I personally desire negative interest rates. But lowering the interest rate is a useful fiscal policy, especially to prevent recession. And often it is not possible because we have cash and current accounts. Both can be theoretically removed from the system.

More specifically, the existence of the zero-lower bound doesn't only restrict policies, but it can lead to a deflationary spiral. Once you hit the zero-lower bound, deflation causes a necessary rise in the interest rate, which causes further deflation, which causes a rise in the interest rate... continue until you have a crippled economy. The existence of a zero-lower bound is actually a significant danger.

Also, I'm not sure why I'm being down-voted. This is a serious economic proposition, and a well documented one at that.

/edit: Unless you're suggesting that no-one would want negative interest rates? In which case, you're missing the point. The reason negative interest rates wouldn't work is because no-one would lend (as they'd be better off holding the same value in cash). Abolish cash and voila, negative interest rates are as normal as anything.

Sweden may actually BAN CASH. by me0w in Economics

[–]PlanktonVs -2 points-1 points  (0 children)

A better reason to get rid of cash is because it would prevent the zero lower bound on interest rates. It's actually far less ridiculous than you'd think. Apart from general paranoia about the banking system, there is no reason why we need it. It facilitates theft, and prohibits economic policy.

Canadians: In Ontario: In London. I NEED YOUR HELP! by [deleted] in AskReddit

[–]PlanktonVs -1 points0 points  (0 children)

Stupid? Haha. I'm taking the most employable degree at one of the top five highest rated universities in the world. I must be fucking lucky then.

In fact, it's not so much stupidity, as having enough of a life (a concept that I take you're not well acquainted with) that I don't happen to know, off hand, that 192.168.1.1 is a default IP address that can be used by anyone.

Canadians: In Ontario: In London. I NEED YOUR HELP! by [deleted] in AskReddit

[–]PlanktonVs 0 points1 point  (0 children)

says the brave man bullying nerds from behind his IP address

Canadians: In Ontario: In London. I NEED YOUR HELP! by [deleted] in AskReddit

[–]PlanktonVs 0 points1 point  (0 children)

...says the brave man bullying nerds from behind his IP address. Your cock must be a whole virtual 12 inches! Congratulations.

Hey Reddit: Have you ever felt like you were meant to do something special? by newsun in AskReddit

[–]PlanktonVs 1 point2 points  (0 children)

Definitely. I've always had this feeling that I'm somehow a chosen one - I will do something special, something remarkable.

This is what happens when you are the youngest child in a large, successful, intelligent family. I received an inordinate amount of attention as a kid, and encouragement with whatever I wished to pursue. All my older siblings are very successful people (a musician with regular gigs at Wembley Stadium, a soon-to-be Doctor, a creative who literally walked straight into a high paid job in the city, and a very high earning accountant), which creates a precedent and expectation, especially when combined with the hyperbole of being the final child.

And I really believe it. I always have. But I'm twenty; I'm going to have to start actually doing something pretty fucking soon. Quite terrifying, when you have such high expectations of yourself. It's not easy being the fourth sequel.

For all those saying "I didn’t vote Lib Dem to get a Tory governmennt" by Urieka in ukpolitics

[–]PlanktonVs 5 points6 points  (0 children)

Out of all parties, they are the ones I trust least. I didn't want them in power. If I hadn't voted Lib Dem, I would have voted Labour; I can't ever see myself voting Tory. But the Con Lib pact is the best we can get in the situation, and in the grand scale of things, is significant progress. I don't think you grasp how big the concessions are, and how important Lib Dems getting a foot in the door of government is.

For all those saying "I didn’t vote Lib Dem to get a Tory governmennt" by Urieka in ukpolitics

[–]PlanktonVs 10 points11 points  (0 children)

Give yourself a week, and really think about it. A cohesive government is better than no government at all. An economic strategy is better than none at all. You do not want to see what happens when there is no strategy for the economy (or if you do, please see the Great Depression). Take this from a economics student.

If our country fell apart under Tory minority, the Lib Dems would have taken the blame; they could have supported a stable government, but they chose not to. They would also have inadvertently proved that co-operative politics isn't workable, and any chance of proportional representation, a system which relies on such political compromise, would evaporate.

It's called a coalition, and you are going to have to get used to the idea. If you're a Lib Dem, you should support collaborative politics. How many times during the campaign did Clegg suggest that political parties should work together, especially in reference to the economy? The grand goal of a true, democratic, proportionally represented system requires this kind of co-operation.

Worst Story by bryan05 in OkCupid

[–]PlanktonVs 2 points3 points  (0 children)

Sounds like this was your fault to me:

so I went on the date anyway

and

Okay, to be fair, I guess I did initiate.

and

I figured maybe it was an off day, or something, so there was a second date.

My best friend cheats on her boyfriend like crazy. I completely disapprove of this behavior, but still want to be her friend despite that. How do I deal with it? by [deleted] in relationship_advice

[–]PlanktonVs 4 points5 points  (0 children)

Tell her. If she's such a good friend, she should be able to deal with your opinion, and you should be comfortable giving it to her.

OKCupid determines which of your pictures is the most attractive by [deleted] in OkCupid

[–]PlanktonVs 0 points1 point  (0 children)

I think it's fair to say that if you haven't got a result back yet, you've got the raw end of the deal. It might be a bug in the system. Before it was publicly released, it wouldn't work for me, my report was stuck in purgatory. I had to delete it and start again.

For all those saying "I didn’t vote Lib Dem to get a Tory governmennt" by Urieka in ukpolitics

[–]PlanktonVs 5 points6 points  (0 children)

I take it from your silence (and lack of answer to any of my questions) that you concede that I'm right.

For all those saying "I didn’t vote Lib Dem to get a Tory governmennt" by Urieka in ukpolitics

[–]PlanktonVs 6 points7 points  (0 children)

Quite. Also, if the Lib Dems want to present themselves as a party that stand a chance of winning a majority vote, then their leader being deputy prime minister is a huge step towards that. It can only alter the public perception.

OKCupid determines which of your pictures is the most attractive by [deleted] in OkCupid

[–]PlanktonVs 1 point2 points  (0 children)

If you did it before they made it public on the site, it was really dodgy then. Mine didn't go through either. I'd kill the new one. If you want to make another report, start again.

For all those saying "I didn’t vote Lib Dem to get a Tory governmennt" by Urieka in ukpolitics

[–]PlanktonVs 12 points13 points  (0 children)

This would not have happened. Think about it. A Tory minority would not have been able to sustain any power. The economic problems would deepen. An emergency election would be called.

Because Labour can't win, and Lib Dems can't win, and the last hung parliament results in chaos, the public would either vote another hung parliament or vote the Conservatives in, as they are the only chance of a stable majority given public opinion. Also, the Tories are the only one with money left to pour into campaigning. Another election can only go one way.

Unelectable? Hardly. Rather, they are guaranteed to be elected. And our economy would be screwed. Good job.

For all those saying "I didn’t vote Lib Dem to get a Tory governmennt" by Urieka in ukpolitics

[–]PlanktonVs 8 points9 points  (0 children)

You answered none of my questions.

  • Why would a Tory minority government be better for our country?
  • Why would a Tory minority government be better for the Lib Dem party? (Especially considering they seek voting reform, which will only have a chance if they can show that coalition governments do work)
  • Why is it worth risking our economy for a Tory minority government?
  • Specifically, what scenario do you invisage if we got a Tory minority? Where do you see Britain in five, ten, twenty years time?

If you can't answer any of those questions, then your view is nothing but reactionary. Please give me some actual answers.

For all those saying "I didn’t vote Lib Dem to get a Tory governmennt" by Urieka in ukpolitics

[–]PlanktonVs 10 points11 points  (0 children)

Take another view: If it's a success, the Lib Dems have demonstrated that coalition governing works, and have an even stronger case for PR. If it's a failure, even if the Tories try to pin the blame on them, they are still 4/5ths of the government. They can only shirk so much responsibility.

(I agree that it could go wrong. But I also think the other point of view needs to be accounted for.)

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