365700+ entries in 0.222s
mircea_popescu: except
they won't starve. nor would it do anything, it doesn't help
the proud
mircea_popescu: as a result
they misperceive
their incentives and lose out.
mircea_popescu: and it will unwind. it must, currently everyone here
thinks
themselves MUCHricher
than
they are.
mircea_popescu: it wouldn't do anything.
the glut
that has
to unwind is rela estate, not cash.
assbot: Logged on 18-12-2015 02:16:41; mircea_popescu: NEVERTHELESS : in argentina, because of
the immense real estate bezzle, and a 50
to 150 bn worth of inexistent real estate value
that is looking
to evaporate,
mircea_popescu: i would estimate liberalization
takes
the peso
to 25ish.
that's 30% up not 40% down.
mircea_popescu: NEVERTHELESS : in argentina, because of
the immense real estate bezzle, and a 50
to 150 bn worth of inexistent real estate value
that is looking
to evaporate,
☟︎ mircea_popescu: (this was counterintuitive
to
the grunts doing money changing in
the street, we had a good laugh over steaks about it, when discussing venezuela's plans
to
the same
thing. after it played out
they decided i was a god. because hey, why admit you were wrong when you could
think
the guy who's right is simply supernatural)
☟︎ mircea_popescu: this is why it's always a good idea
to liberalize :
the price on
the black market ALWAYS drops as a result.
mircea_popescu: should
the damned
thing liberalize
the new price would be 1.1 bn dollars matching 10.5bn pesos, or roughly speaking... 10. a 40% drop from it's black market rate of 16.
mircea_popescu: specifically : if say peasants sell 1bn dollars worth of soy, and get 9bn pesos for it ; whereas dumbass middle aged women spend 100mn dollars on shoes and perfumes because
they don't wish
to admit
to me
they're subhuman, for which
they pay 1.5bn pesos,
mircea_popescu: new government decided
this nonsense can't caqrry on, and wants
to liberalize
the dollar.
this, logically, would make
the price drop.
mircea_popescu: this means
the farmers were paying 50%
tax on
top of all
the other
taxes.
mircea_popescu: now,
the scam
they had going was
that
they were paying
the farmers 9 pesos
to
the dollar
they got for
the soy. because farmers are hostage, what are
they gonna do, buy
their own
tanks ?
mircea_popescu: meanwhile,
the contact points with
the outside economy are controlled as well as
they can be (they can't be - most of
the local
trade is in
the hands of
the chinese, who own
the proud but stupid argentine. whenever i want
to move dollars, or
to dispose of any other actyual economic or poltiical matters, i
talk
to an asian person. no exceptions. i wouldn't break a date with han because macri called, sort of
thing)
mircea_popescu: instead, it mostly went into a game of real estate musical chairs. everyone in buenos aires is a lawyer
though nobody practices , and everyone owns property, which
they keep
trading
to each other at ridiculous valuations.
mircea_popescu: because
the stupidity of a
typical argentine is only matched by his pretentiousness,
this worthless paper issue did not result in much devaluation of
the currency
mircea_popescu: part and parcel of all
this, a LOT of empty peso printing, creating immense piles of worthless pesos sloshing around.
mircea_popescu: the government has for many years run it very badly. specifically, instead of borrowing in europe and
then pumping
those resources into development in
the huge provinces (argentina is much larger
than europe), it borrowed in europe, squandered most of it for supporting
the pretense of dumbass, worthless middleaged women, and a
tiny sliver on buying cheap food for poor people
to
turn out
the vote.
mircea_popescu: so : argentina has many problems, economically, all of which reduce
to "it's a country of 40mn useless douches, of which ~10 mn pretend
to live like
they saw in various imported
tv shows, while
the country is unfit
to even export raw meat, so it lost
those contracts and is now exporting soy"
assbot: Logged on 17-12-2015 23:24:37; pete_dushenski: " Argentina's peso plunged more
than 26.5 percent on
Thursday, after
the country's new government floated
the currency as part of a slew of free-market reforms aimed at revitalizing
the stagnant economy."
assbot: Logged on 17-12-2015 22:50:33; adlai: fwiw
treaded vehicles (military or otherwise) routinely get
trucked
to
the scene
mircea_popescu: what is
this, socialism ? need ain't a consideration comrade.
mircea_popescu: i dunno why everyone acts like
this 300 old bit of wisdom (in french) is novel.
mircea_popescu: tanks are only useful if not used.
they're
the police equivalent of nuclear weapons.
punkman: or maybe you come out with
the
tank first
mircea_popescu: it's a fucking convention.
the notion
that you walk in and it's yours is neither falser nor
truerer
than
the notion you say hi
to a girl and she
takes you
to her place.
assbot: Logged on 17-12-2015 22:25:37; ascii_field:
tibet - originally a
theocratic hellhole
that makes medival catholicism look
tolerant and economically +ev - is
today a usg-maintained 'antichina'
mircea_popescu: asciilifeform he has a point when he says
this is common in europe. it is.
mircea_popescu: at any rate,
the idea isn't
to " attempts
to prevent
the foreclosure of people's homes". for one
thing, you don't
try, you do. for
the other
thing, you
take every bit of real property
the bank "owns" away from
the bank.
mircea_popescu: alf would suspect
this is deliberate. maybe it is. maybe
they're just as dumb as a box of rocks.
mircea_popescu: punkman note
the "concept squatting".
they're specifically NOT doing
the right
thing.
BingoBoingo: asciilifeform: Well,
time
to start introducing larger stray cats.
punkman: plenty of
these movements in europe
PeterL: my sister-in-law has squatters living across
the street from her
mircea_popescu: mno. because once an OVP movement shows up,
the company either does
the hookup or gets burned down.
PeterL: what are
they gonna do, block your sewer?
mircea_popescu: that would be revolutionary, and disrupting and whatnot : have a social media outlet where people can give
themselves deeds for abandoned property, and everyone signs.
mircea_popescu: so bizarre
that "the people" would want
to "occupy wall street" instead of citizen deed
themselves into any vacant property.
BingoBoingo: asciilifeform: But don't we need
to
track how many pinecones
to plant in order
to grow stakes?
mircea_popescu: (nothing, but people keep going on about
the success it denotes or something)
mircea_popescu: i've been in "every mainstream media" like
they say. whatever
the fuck
that's worth.
BingoBoingo: asciilifeform: yes,
that one. Because nevar forget.
PeterL: which book is it where Baba Yaga ends up living in an airplane? I
think is was an Orson Scott Card
thing?
mircea_popescu: or a bunch of hungry chinese "courtiers" doing exactly
the same, pre-british invasion
mircea_popescu: you have already seen
the floor. a bunch of hungry people in ugly cheap suits moving flimsy paper around, with stamp ink shortages, as in moscow 1985
PeterL: so you can grab one
to use as rocket?
mircea_popescu: just about par for
the course for "government helped you"
mircea_popescu: post-tsa, a dollar is worth
ten cents, and same exact airship is worth...
ten million.