pat gilbert

Tustin, CA, United States

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149877
pat gilbert
Posted 10 months ago
Thomas Piketty: New thoughts on capital in the twenty-first century
The payments on excess reserve funds is one of many causes that have increased debt. The Fed payments have only been for the last 6 years. The primary causes were taking the dollar off of Bretton Woods and the reserve currency status that allows the Fed to print with impunity. Government does too much for us. It is a shell game they convince us that we need them at a absurd cost in both taxes and liberty. Yup section 8 housing, 99 weeks of unemployment, food stamps, WIC, welfare, etc The biggest looming threat are the entitlements. FDR's SS would have been far cheaper if privately funded. LBJ's medicare would have been far cheaper if privately funded. (for a myriad of reasons). This is a big chunk of taxes that would be more remunerative if there was no gov't program. The same could be said for all taxes, IOW the government burdens the individual and returns little. The basic premise is that government spending creates economic activity, this is the Keynesian myth. It has been sold to the people for 100 year. IOW it is a tautology that is as specious then as it is now. Think about the basic truths, people will figure out a way to survive, people will figure out a way to improve things through technology. What part has government played in that? The only remotely legitimate role government has played is a rule of law and national defense. But even that is specious because most of the wars are started by government in the first place. And the rule of law is becoming less and less just. Consider Somalia, the country that most on TED or the pubic would consider that poster child of anarchy. Since they revolted and kicked out their leader in 1991 they have practiced Xeer law, with no central government. (which has recently changed) But the work-ability of Xeer law has led to an increase in economic activity and an improving standard of living in Somalia. The point is that we are all brain washed into thinking we need government.
149877
pat gilbert
Posted 10 months ago
Thomas Piketty: New thoughts on capital in the twenty-first century
You have a superficial understanding of this because you have listened to too much propaganda. The ONLY point I'm making is that only inflation causes income inequality. But you will not consider that point... Consider this, when tracking down cause and effect (which is what you should be doing), the cause was taking the dollar off of Bretton Woods in 1971. This loosely correlates with most inequity studies. Consider this point. I will give you the last word
149877
pat gilbert
Posted 10 months ago
Thomas Piketty: New thoughts on capital in the twenty-first century
The real problem is a top heavy government. With the Fed paying banks for the excess reserve funds. And 50% or more of the budget going to cronies. The real solution is less of everything. The market does not need the Fed. It operated 100 years without it. For the last 100 years the economy was much worse with it.
149877
pat gilbert
Posted 10 months ago
Dilip Ratha: The hidden force in global economics: sending money home
I was referring to human trafficking/indentured servants. "That same statement applies in the US." Agreed "Having had the economic life blood sucked out of them (India) for a couple of centuries by the Brits, I hope Modi has enough sense not to let the multinational corporations in for round 2 of more of the same." Could it be any worse? India is known for heavy corruption. The best way to shrink the corruption is to shrink the government. Before you can deal with corruption you have to deal with the lack of education. IOW people do not know right from wrong until they are educated about that and other things. Not that that is a complete answer as China is corrupt as well. But IMO it is the starting point. That is the main difference between China and India. This talk delineates the difference. http://www.ted.com/talks/yasheng_huang