It is what gives our fiat money value. You NEED the currency to pay taxes.
How else would you attach value to a fiat currency?
The average net profit margin for oil and gas production was 4.7% in 2021 and 31.3% in Q4 2021.
Man, that is a bit higher than 10-15% and in such a short time. But no, I’m sure it was just the rise of raw materials and had nothing to do with price-gouging. Those record profits just happened.
From the traditional definition
“ It gets its value based on the trust people place in the authorities that issue it.”
It has value because the people (for better or worse) trust (I use the term loosely) the government that issues it.
See
Source of data?
Also I posted in the other thread on the similar topic that overall the goods market shared a similar profit margin between 2019, 2021, and 2022.
2020 is an anomaly due to the pandemic.
MMT is a description of how monetary operations actually work which is completely different than a business. So you failed again.
Unicorn cum and pixie dust, obviously.
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To borrow from how you answer people typically…
Are you saying Disney doesn’t understand money?
What a rube.
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Another non-answer as you don’t have one. Congrats!
Doesn’t this also cure cancer?
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Walt Disney is a business. Is the Federal government one? Then why do you conflate the two?
You missed the point of my response completely as is typical.
Bitcoin only has value because people believe it does. It’s just as lacking in “real” value as the dollar. It’s the same damn thing only the issuer is a computer instead of a government.
How does this compare to profit margins over decades that these companies have been around. Quarterly profit margins do not equal yearly profit margins. To equate the two is asinine. Most retail stores show huge Q4 profit thanks to the holidays…
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Like most industries, revenue (and therefore profit) varies widely year over year
Like i said Mickey Mouse Theory
Frankly, i don’t give a shit what you think and trying to debate you makes my brain hurt. Not because youre a good debater, mind you.
So I respond with arguments that are about as valid as yours. Hence:
I’m not 100% on the science behind it, but my research makes me think so.
I’ve been lathering myself in both twice daily as a preventative measure. If that doesn’t work, the logical next method to try is rectal insertion. I’ll report back with results.
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The best parts of MMT are in Keynesian economics. I’ve read Kelton and watched her lectures on YT many times. Read Mosler. They make valuable points, especially on the relationship between public sector and private sector debt. But I can’t subscribe to their approach in toto.
Man you would really hate Walmarts profit margin on about everything then.
31.3% profit margin is not gouging by any stretch.
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Oh good, my 5 year old’s school books showed up and they gave me a freebie!
It’s like they knew there was a poor person present that could use enlightening.
- Good news for @castoli is that he now has access to some economic literature that’s actually been proven to work.
- Bad news is that my daughter is probably going to complete this before he will.
Credit: The Tuttle Twins (highly recommend for educational stuff for kids 5+ or adults who never made enough money to understand how it works)
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