Remeber Hemp Cultivation?

After enjoying the fruits of your labors, we all need a place to chill. This is that place. Totally senseless irrelevant banter encouraged.
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Post by Jesús Malverde »

How? You spend it into existence. Infrastructure upgrading, education or whatever you want. You might want to direct it into something like that with high multipliers. No bonds, just straight up deficit spending. It's the way the current system often already works, whatever they tell you.
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Post by Prawn Connery »

Hasn't worked in China. They spent it almost all on infrastructure and supporting industries and now they have huge overcapacity in almost all industries. The Chinese government is trying to cut 150-200 million tonnes of steel capacity over the next five years. They have entire satellite cities that are empty. Keneysian Economics at its finest.

The problem with deficit spending is the world has been at it for over 70 years. Entire countries have either defaulted or come close to defaulting on their repayments. Sooner or later, people are going to want their money back . . .
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Post by bentech »

you have to print enough currency to equal the value that human labor pours into the system each day
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Post by Jesús Malverde »

Prawn Connery wrote:Hasn't worked in China. They spent it almost all on infrastructure and supporting industries and now they have huge overcapacity in almost all industries. The Chinese government is trying to cut 150-200 million tonnes of steel capacity over the next five years. They have entire satellite cities that are empty. Keneysian Economics at its finest.

The problem with deficit spending is the world has been at it for over 70 years. Entire countries have either defaulted or come close to defaulting on their repayments. Sooner or later, people are going to want their money back . . .
The PRC as a command economy hardly operates on a market basis, they've been dumping steel exports onto world markets at huge losses, presumably in order to corner the supply market by bankrupting overseas competition. The "ghost cities" thing is overstated too, it's mostly based on some striking photo essays of completed but as yet unoccupied properties that were published in the international press. More anecdotal than data.

Deficits in countries with a sovereign currency ultimately are never constrained by debt repayment or the threat of bankruptcy--an issuer of sovereign fiat currency cannot by definition ever be bankrupted by debt denominated in that currency--but rather by the loss of value of the issued currency e.g. inflation or devaluation. So a country can always print itself up to its inflation target and remain solvent. Public deficits are in fact necessary for private growth, as the public deficit will by maths always equal the combined public surpluses. Look up Modern Monetary Theory, even if you disagree with its prescriptive viewpoint it is more accurate descriptively than conventional economic theory. Stephanie Kelton, who happens to be the chief economist for the Democrats in the Senate Budget Committee is a good place to begin to reading. MMT is heterodox, yes, but hardly wildly so.
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Post by Prawn Connery »

They've been dumping steel because they don't have any choice - they have huge overcapacity. If it were China's intent to bankrupt its rivals, it wouldn't have announced to the world it was cutting steel capacity into the future.

"Ghost cities" are not anecdotal. It's a bit of a misleading term, as whilst there are entire satellite cities that lie empty and/or incomplete, oversupply of housing is now endemic to nearly every city in China. Outside the main metropolises of Beijing, Shanghai and Guangzhou, there are millions - 4.7 million according to official Chinese estimates (which, as any statistician knows, is a huge understatement) - of empty apartments.

You say anecdotal. I say go to China and see for yourself - as I do each year. And have been doing for the past 25 years. Hell, I even own a couple of properties there.

The problem with the Chinese economy is most former state-owned enterprises - which are now defacto state-owned enterprises, as all the execs are members of the Communist Party - are not accountable to anyone. Not shareholders, not market regulators and not the Government. They are the government/regulators. With little free-market experience, cheap labour and "free cash" from foreign investors pumping in huge amounts of capital over the past 20+ years - which has started dry up since the GFC - Chinese companies have lived by the mantra "the more we produce, the more we sell, the more money we make". Until you overcapitalise and/or debt-driven demand suddenly falls below increasing supply.

If you want a sound economic indicator, look at the global price of iron ore and coal - both used for steel production. More than half of China's steel goes into housing and infrastructure. Most of the remainder goes into white goods, autos and other products. A small percentage of Chinese steel is exported. It's not about flooding foreign markets - it's purely about huge and unavoidable excess capacity.

There's more to it than that, of course. But I haven't got all day!

When you talk about "sovereign currency" you are only really talking about the US$, as it is the world's main trading currency and the world simply cannot afford for it to fail. Quantitative easing was about devaluing the US$ not only to make the nation's exports more competitive, but to reduce the US's foreign debt in real terms. Holders of US bonds (debt) - China being the largest - have seen their holdings fall in value, and are in the process of offloading that debt and shoring up their own currencies. China's aim is for the Yuan to become a global trading currency like the Euro and Yen. You say "deficits are never constrained by debt repayments" and yet, if no-one bought the debt in the first place, what would happen to your currency and terms of trade?

If we took the example of hyper-inflation and corresponding exponential interest rates, it's pretty clear to see that after only a short time, no-one would lend to you and no-one would want your currency in exchange for goods. To all intents, you are bankrupt. Just as it is believed Nazi Germany was close to when it invaded Poland.

That "Stephanie Kelton . . . happens to be the chief economist for the Democrats in the Senate Budget Committee" is not a comforting thought at all . . .
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Post by Peace Pipe »

It's interesting to see that this site is all that's left of OG. OG was the first forum I ever became a long term participating member of.
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Post by bentech »

its a whole different world
we are relics
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Post by Cat Jockey »

Somebody say buckets and DWC? I like me sum of that. But, when I get a grow going again, it will probably be E&F with a top drip in addition to the flood for a deeper pot and a larger root mass (I've done this in the past with 9 plants per 4x4 flowering tray/thowie - I like it.). RDWC is fun as fuck, but I don't need that much weed, lol. Plus, I don't think RDWC is worth the hassle unless you do vertical lighting (unless you just want to try it to fuck around and try it) - otherwise, it is like driving a Ferrari but never shifting past second gear pr pressing the gas peddle more than half way.

10,000W Mother Room. These are all mother plants. 24 different strains on one RDWC res (had 50-60 strains in that room). Only problems were with super heavy sativa phenos. Just gave the ladies a haircut in that one pic, for maintenance and shaping. That is a clone factory, right there, lol. The Homer buckets are PPV and get the SAME nute regiment as the RDWC (RDWC got lower strength, but same nute proportions) and Ebb & Flow trays I had in there - a nute solution that was around 5.2 for pH. Let it rise in teh hydro to 6.1, or so, then dump and change. With Homer buckets, I had a good amount of perlite (I add it to every mix) and watered to at least 15% runoff, but usually a bit more. The added perlite and runoff gives MORE control over the root zone, and the proper pH, well, that is just the proper pH for ANY hydro, RDWC included. My opinion, of course, and good weed can be grown otherwise, just, well, lol ...

'Ol Bubba Dog is probably pushing 11 years old there. Look out, a very alert and vicious attack dog on duty, making sure nobody fucks with the RO filter, water tank and cuttings, lol. RIP Bubba Dog:
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Post by Roots »

Why would anyone want 60 strains?

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Post by Freakalicious »

strain horder

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