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70's supply shocks were caused by a few things, you can blame oil on the US being idiots about their foreign policy in relation to Iran and also starting a 700 billion dollar war in Vietnam. Otherwise any 'supply shocks' were probably caused by the price controls implemented by Nixon lol, even...

also no joke post all the causes for inflation that your econ textbook has I need a good laugh, last time i checked it was like 7 or something?

So hows the stagflation over there? Keynesian economics was disproved to be a barrel of bat shit back in the 70's stop paying attention to it... well stop paying attention to it once you have done the HSC. Try and write an HSC econ essay from an Austrian or Chicago perspective and get 0 marks XD...

what about those chicks in the IDF?

when ever i think of the EU as a growing centralised super power my mind goes straight to this scene

yea true but the way they're going I don't see them stopping anytime time soon so I'd expect some stagflation in the near future

Hyper-stagflation Say it loud say it proud we're all Keynesians now?

Cut spending, cut taxes, raise interest rates and bring the troops home. That medicine will taste bad for the US but they need to go into rehab instead of shooting up heroin that keeps going up in price. EDIT: also when I mean bring the troops home I'm not just talking about the three wars in...

Re: Do you believe is God? that he did, what a fucking shit shot it was must rep when i get the chance

yea aus dollar will hit 70 cents and below compared to the US dollar. Was telling everybody a few weeks ago to buy up US dollars to make a few quick bucks because we all knew this was gonna happen sooner or later.

"Also, Obama was a legacy due to his father picking up a Masters in economics before Harvard kicked him out for practicing polygamy." BAHAHAHA WTF?

yea for sure, no way was that a controllled demolition

I thought the WTC's were built like one big steel tube with a concrete core for lifts and stuff.... so that essentially all their strength was within the outer walls not its core.... not suggesting anything just saying, I could be wrong

Shane = Fucking top bloke /thread

Re: Labor fights back on carbon pricing Ok..... so either you don't understand that the concept of a "free lunch" in this context doesn't literally mean that OR you're losing the argument so you're replying with an irrelevant statement….

Re: Labor fights back on carbon pricing I'm not a blind Friedmanite but the guy had a knack for explaining ideas and arguing clearly. TLDW there is no such thing as taxing business or polluters you will always just be taxing people, as lol smith said, no such thing as a free lunch

Re: Illegal strikes by public servants I love on the news they were talking about teachers starting on $57,000 a year salary and them claiming it's not enough. If you can't live on $57,000 a year there is something mentally wrong with you

Classic nature nurture debate. OFC any rational person will tell you its both. If somebody tells you otherwise they are either A: A crazy eugenicist or B: Some dirty, everybody is equal, affirmative action loving hippie.

Cough* Stagflation Cough* yea were screwed better start buying up some gold bars for when this whole thing blows over

which again makes it even more abundantly obvious that prehaps stimulus packages are not the answer.