From: dsc-ky on
On Dec 19, 12:46 am, Chris Bellomy <ten.wohsdoog(a)sirhc> wrote:
> dsc-ky wrote, On 12/18/09 8:47 AM:
>
> > Hoarding is not really why there's a shortage of money in
> > circulation... is it?
>
> Hoarding may not be the best verb, but overconcentration of
> capital is a well-understood red flag for any market economy.
> Economies with more equitable distribution of capital are
> more robust, with more competition and fewer single points
> of failure. Progressive taxation is the best and most
> efficient brake against overconcentration, for a number
> of reasons I'm too tired to list. (Any day that ends up
> with my wife in the hospital is gonna be exhausting.)
>
> Americans, for all their puritanism about most other
> deadly sins, have no issue with greed. But greed is a
> sin for a reason. I'm not even going to say what my
> idea of that reason is -- I think it's enough to say
> that there's a good reason. There's a difference between
> building financial security for one's family and
> accumulating an obscene fortune, and until we can learn
> to encourage the former while discouraging the latter,
> we're going to have these problems.

It seems to me that most of our problems are from people spending more
than they have and taking big chances (houses, businesses, etc). Seems
opposite of hoarding?
From: BAR on
In article <3f22b437-a10e-4c68-ade9-
0f3bb341d67e(a)f20g2000prn.googlegroups.com>, Dudley.Cornman(a)eku.edu
says...
>
> On Dec 19, 12:46�am, Chris Bellomy <ten.wohsdoog(a)sirhc> wrote:
> > dsc-ky wrote, On 12/18/09 8:47 AM:
> >
> > > Hoarding is not really why there's a shortage of money in
> > > circulation... is it?
> >
> > Hoarding may not be the best verb, but overconcentration of
> > capital is a well-understood red flag for any market economy.
> > Economies with more equitable distribution of capital are
> > more robust, with more competition and fewer single points
> > of failure. Progressive taxation is the best and most
> > efficient brake against overconcentration, for a number
> > of reasons I'm too tired to list. (Any day that ends up
> > with my wife in the hospital is gonna be exhausting.)
> >
> > Americans, for all their puritanism about most other
> > deadly sins, have no issue with greed. But greed is a
> > sin for a reason. I'm not even going to say what my
> > idea of that reason is -- I think it's enough to say
> > that there's a good reason. There's a difference between
> > building financial security for one's family and
> > accumulating an obscene fortune, and until we can learn
> > to encourage the former while discouraging the latter,
> > we're going to have these problems.
>
> It seems to me that most of our problems are from people spending more
> than they have and taking big chances (houses, businesses, etc). Seems
> opposite of hoarding?

I think Bellomy's flawed line of reasoning about "hoarding" money is
funny. Nobody hoards money.

Bellomy is envious and jealous of those who have more than he does and
the only way that he can even the score is to demonize them.
From: dsc-ky on
On Dec 19, 9:57 am, BAR <sc...(a)you.com> wrote:
> In article <3f22b437-a10e-4c68-ade9-
> 0f3bb341d...(a)f20g2000prn.googlegroups.com>, Dudley.Corn...(a)eku.edu
> says...
>
>
>
>
>
>
>
> > On Dec 19, 12:46 am, Chris Bellomy <ten.wohsdoog(a)sirhc> wrote:
> > > dsc-ky wrote, On 12/18/09 8:47 AM:
>
> > > > Hoarding is not really why there's a shortage of money in
> > > > circulation... is it?
>
> > > Hoarding may not be the best verb, but overconcentration of
> > > capital is a well-understood red flag for any market economy.
> > > Economies with more equitable distribution of capital are
> > > more robust, with more competition and fewer single points
> > > of failure. Progressive taxation is the best and most
> > > efficient brake against overconcentration, for a number
> > > of reasons I'm too tired to list. (Any day that ends up
> > > with my wife in the hospital is gonna be exhausting.)
>
> > > Americans, for all their puritanism about most other
> > > deadly sins, have no issue with greed. But greed is a
> > > sin for a reason. I'm not even going to say what my
> > > idea of that reason is -- I think it's enough to say
> > > that there's a good reason. There's a difference between
> > > building financial security for one's family and
> > > accumulating an obscene fortune, and until we can learn
> > > to encourage the former while discouraging the latter,
> > > we're going to have these problems.
>
> > It seems to me that most of our problems are from people spending more
> > than they have and taking big chances (houses, businesses, etc). Seems
> > opposite of hoarding?
>
> I think Bellomy's flawed line of reasoning about "hoarding" money is
> funny. Nobody hoards money.

"Nobody" is a broad brush. There are some people that are extreme in
their saving. I had neighbors that were like that back home. It's the
old way of doing things. But these people take care of their own. They
don't over borrow or over extend. They live a pretty simple life and
save most of the money they make. He was a farmer and mechanic and
wore old torn oily/greasy clothes most of the time. Another neighbor
over extended by buying 3 farms just before the interest rates hit
about 18%. He couldn't swing it and the farms were sold at auction.
The farmer/mechanic had the highest bid on one of the farms. The
auctioneer took a look at him and asked him how he intended to pay (in
an insulting way). He answered "You take cash don't you"??? There are
still a lot of people that live this way... and I don't see it as a
bad way to do things.


> Bellomy is envious and jealous of those who have more than he does and
> the only way that he can even the score is to demonize them.

What amazes me is how workers get raises which contributes to the
prices of everything to go up. We are to the point where prices go up
way faster than wages, and some call that progress. :) Can we just go
back to he 60's? :)
From: dsc-ky on
On Dec 19, 10:17 am, dsc-ky <Dudley.Corn...(a)eku.edu> wrote:
> On Dec 19, 9:57 am, BAR <sc...(a)you.com> wrote:
>
>
>
>
>
> > In article <3f22b437-a10e-4c68-ade9-
> > 0f3bb341d...(a)f20g2000prn.googlegroups.com>, Dudley.Corn...(a)eku.edu
> > says...
>
> > > On Dec 19, 12:46 am, Chris Bellomy <ten.wohsdoog(a)sirhc> wrote:
> > > > dsc-ky wrote, On 12/18/09 8:47 AM:
>
> > > > > Hoarding is not really why there's a shortage of money in
> > > > > circulation... is it?
>
> > > > Hoarding may not be the best verb, but overconcentration of
> > > > capital is a well-understood red flag for any market economy.
> > > > Economies with more equitable distribution of capital are
> > > > more robust, with more competition and fewer single points
> > > > of failure. Progressive taxation is the best and most
> > > > efficient brake against overconcentration, for a number
> > > > of reasons I'm too tired to list. (Any day that ends up
> > > > with my wife in the hospital is gonna be exhausting.)
>
> > > > Americans, for all their puritanism about most other
> > > > deadly sins, have no issue with greed. But greed is a
> > > > sin for a reason. I'm not even going to say what my
> > > > idea of that reason is -- I think it's enough to say
> > > > that there's a good reason. There's a difference between
> > > > building financial security for one's family and
> > > > accumulating an obscene fortune, and until we can learn
> > > > to encourage the former while discouraging the latter,
> > > > we're going to have these problems.
>
> > > It seems to me that most of our problems are from people spending more
> > > than they have and taking big chances (houses, businesses, etc). Seems
> > > opposite of hoarding?
>
> > I think Bellomy's flawed line of reasoning about "hoarding" money is
> > funny. Nobody hoards money.
>
> "Nobody" is a broad brush. There are some people that are extreme in
> their saving. I had neighbors that were like that back home. It's the
> old way of doing things. But these people take care of their own. They
> don't over borrow or over extend. They live a pretty simple life and
> save most of the money they make. He was a farmer and mechanic and
> wore old torn oily/greasy clothes most of the time. Another neighbor
> over extended by buying 3 farms just before the interest rates hit
> about 18%. He couldn't swing it and the farms were sold at auction.
> The farmer/mechanic had the highest bid on one of the farms. The
> auctioneer took a look at him and asked him how he intended to pay (in
> an insulting way). He answered "You take cash don't you"??? There are
> still a lot of people that live this way... and I don't see it as a
> bad way to do things.

BTW - the price of the farm was $100K I think and that was in the
early/mid 80's.
From: BAR on
In article <409d2f4e-12d2-4356-bc39-
2fbab8bdd9bf(a)f20g2000prn.googlegroups.com>, Dudley.Cornman(a)eku.edu
says...
> > I think Bellomy's flawed line of reasoning about "hoarding" money is
> > funny. Nobody hoards money.
>
> "Nobody" is a broad brush. There are some people that are extreme in
> their saving. I had neighbors that were like that back home. It's the
> old way of doing things. But these people take care of their own. They
> don't over borrow or over extend. They live a pretty simple life and
> save most of the money they make. He was a farmer and mechanic and
> wore old torn oily/greasy clothes most of the time. Another neighbor
> over extended by buying 3 farms just before the interest rates hit
> about 18%. He couldn't swing it and the farms were sold at auction.
> The farmer/mechanic had the highest bid on one of the farms. The
> auctioneer took a look at him and asked him how he intended to pay (in
> an insulting way). He answered "You take cash don't you"??? There are
> still a lot of people that live this way... and I don't see it as a
> bad way to do things.

In order to hoard money you would have to take it out of circulation. If
the money is in a bank or other type of financial account or instrument
it is still working.

If you want to use your mattress as a safe deposit box please continue
to do so. Your money will be reduced by a couple of percent a year due
to inflation.

Bellomy by excluding himself as a hoarder and trying to say that I don't
matter in this discussion as a horader or not a hoarder is laying down
his hand and showing his true objective. Belomy is envious and jealous
of what others have.

> > Bellomy is envious and jealous of those who have more than he does and
> > the only way that he can even the score is to demonize them.
>
> What amazes me is how workers get raises which contributes to the
> prices of everything to go up. We are to the point where prices go up
> way faster than wages, and some call that progress. :) Can we just go
> back to he 60's? :)

It's all relative.