Editing Talk:1971: Personal Data
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White Hat may be speaking facetiously to illustrate that Cueball and Ponytail's ignorance of personal data and the economy are as egregiously irresponsible as ignorance of taxes. [[Special:Contributions/162.158.78.130|162.158.78.130]] 18:15, 23 March 2018 (UTC) anaughtymaus | White Hat may be speaking facetiously to illustrate that Cueball and Ponytail's ignorance of personal data and the economy are as egregiously irresponsible as ignorance of taxes. [[Special:Contributions/162.158.78.130|162.158.78.130]] 18:15, 23 March 2018 (UTC) anaughtymaus | ||
:Yes of course, but if the title text is ascribed to him, then he seems to take it a long way. Based on previous White Hat comics, he often makes suck mistakes. I belive it is not seen like this. Not understanding the economy of your country/Stock market, is not a big issue if you don't trade stocks. Also not understanding what personal data is, may not change the way you protect your self with password or fire walls antivirus/spyware programs. But not paying taxes can get you in jail in the worst case, if it is perceived as fraud, rather than ignorance (White Hat) in which case a (huge) fine may be the result. So it is not the same... --[[User:Kynde|Kynde]] ([[User talk:Kynde|talk]]) 20:59, 23 March 2018 (UTC) | :Yes of course, but if the title text is ascribed to him, then he seems to take it a long way. Based on previous White Hat comics, he often makes suck mistakes. I belive it is not seen like this. Not understanding the economy of your country/Stock market, is not a big issue if you don't trade stocks. Also not understanding what personal data is, may not change the way you protect your self with password or fire walls antivirus/spyware programs. But not paying taxes can get you in jail in the worst case, if it is perceived as fraud, rather than ignorance (White Hat) in which case a (huge) fine may be the result. So it is not the same... --[[User:Kynde|Kynde]] ([[User talk:Kynde|talk]]) 20:59, 23 March 2018 (UTC) | ||
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In healthy economy it's not necessary to force people who wants to save their money to spend it. Inflation is a way to force responsible people to behave just as irresponsible and short-sighted as government itself. But our current economy is build on debt and is definitely neither healthy nor intuitive ... nor sustainable ... see [https://www.youtube.com/watch?v=4AC6RSau7r8 Money as Debt] -- [[User:Hkmaly|Hkmaly]] ([[User talk:Hkmaly|talk]]) 22:26, 23 March 2018 (UTC) | In healthy economy it's not necessary to force people who wants to save their money to spend it. Inflation is a way to force responsible people to behave just as irresponsible and short-sighted as government itself. But our current economy is build on debt and is definitely neither healthy nor intuitive ... nor sustainable ... see [https://www.youtube.com/watch?v=4AC6RSau7r8 Money as Debt] -- [[User:Hkmaly|Hkmaly]] ([[User talk:Hkmaly|talk]]) 22:26, 23 March 2018 (UTC) | ||
:I completely agree about inflation being used to force responsible people to be irresponsible, and I think the description should be changed. But I've concluded that the Money As Debt film misdiagnoses our problems. There's nothing inherently wrong with debt – it just allows someone temporarily to use an IOU to buy goods or services before selling, while still committing them to selling goods or services later. Since sellers don't generally accept individuals' IOUs in payment, a prospective buyer who doesn't have any money yet goes to a bank, and offers their personal IOU in exchange for new IOUs from the bank. The bank's IOU is generally accepted by sellers, on the assumption that the bank is solvent. So money is a debt ''from'' a bank ''to'' the holder of the money, not the other way round. When the borrower has sold something later, the two debts between bank and borrower (one in each direction) can be written off. The ''real'' problem comes from people or corporations (whether commercial, charitable or government) writing IOUs which they can't or won't pay. For example, if banks make loads of loans to people with no income or assets, they rapidly become insolvent, meaning that their IOUs become worth less, perhaps much less. -- [[User:Striped-pad|Striped-pad]] ([[User talk:Striped-pad|talk]]) 22:30, 24 March 2018 (UTC) | :I completely agree about inflation being used to force responsible people to be irresponsible, and I think the description should be changed. But I've concluded that the Money As Debt film misdiagnoses our problems. There's nothing inherently wrong with debt – it just allows someone temporarily to use an IOU to buy goods or services before selling, while still committing them to selling goods or services later. Since sellers don't generally accept individuals' IOUs in payment, a prospective buyer who doesn't have any money yet goes to a bank, and offers their personal IOU in exchange for new IOUs from the bank. The bank's IOU is generally accepted by sellers, on the assumption that the bank is solvent. So money is a debt ''from'' a bank ''to'' the holder of the money, not the other way round. When the borrower has sold something later, the two debts between bank and borrower (one in each direction) can be written off. The ''real'' problem comes from people or corporations (whether commercial, charitable or government) writing IOUs which they can't or won't pay. For example, if banks make loads of loans to people with no income or assets, they rapidly become insolvent, meaning that their IOUs become worth less, perhaps much less. -- [[User:Striped-pad|Striped-pad]] ([[User talk:Striped-pad|talk]]) 22:30, 24 March 2018 (UTC) | ||
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