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View Poll Results: STOP WITH THE GAY THREADS
Yes 1 33.33%
Bastard! 2 66.67%
Voters: 3. You may not vote on this poll

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  #71  
Old 11-16-2007, 01:00 PM
NewTeaBag NewTeaBag is offline
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Default Re: borodog\'s mistaken understanding of M3...don\'t listen to his drive

REVISED CLIFF NOTES:
1)Words words words, rant, rant, rant, MX, MQ, Blibbity, blabbity, fidoucheiary stuffz.
2)Decifer: Boro, you're a BUUHOLE!
3)Boro: Haha! You're a word twisting BUUHOLE
4)pvn: Boro's BUUHOLE smells better
5)Decifer: nannay nanny poo poo I already said I'm a BUUHOLE!
6)Bring out the LOLCATS
7)More words words words words, MZ,M42X, planet smartron 5
8)Decipher: I may be a BUUHOLE but I'm a RIGHT BUUHOLE!
  #72  
Old 11-16-2007, 01:04 PM
DcifrThs DcifrThs is offline
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Default Re: borodog\'s mistaken understanding of M3...don\'t listen to his drive

[ QUOTE ]
[ QUOTE ]
it isn't an absolute that lowering interest rates lowers the value of the dollar (which is what the OP in the last thread seemed to believe), just because it is true most of the time.

[/ QUOTE ]

It isn't an absolute that AA will beat 67, but it is an absolute that getting your chips in with 67 vs. AA is -EV.

[ QUOTE ]
it doesn't help anyone to say "the fed is printing money and devaluing the dollar" other than your own clan or people you are trying to convert. it would be far better if you actually explained things the way they are so that those people don't get a distorted idea of the order of operations. it wouldn't sound as good but it would be more useful in the long run so that your convertees could intelligently argue their points.

[/ QUOTE ]

I'm pretty sure 2X + 3X = 5X. If you for some reason (perhaps you make a career out of such things) want to spend an endless amount of energy arguing why it equals 5.2X, you shouldn't trick yourself into thinking there need be a complicated counter-argument.


In other news, I'm glad to see this thread is alive and well.

[/ QUOTE ]

i think you see the issue i have here though. that issue is that when you say things like "the fed devalues the dollar by printing money" it comes accross as a literal relationship.

those who don't understand econ (many who read and have been converted) take it as such a literal relationship.

to you it is splitting hairs, possibly b/c you understand it. and yes, of course 76 will be sad to get it all in vs. AA preflop and is -EV for the 76 guy. but both players understand simply WHY!! there doesn't seem to be that understanding of why by the followers here since the OP in the BFI thread stated things the way he did.

Barron
  #73  
Old 11-16-2007, 01:09 PM
DVaut1 DVaut1 is offline
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Default Re: borodog\'s mistaken understanding of M3...don\'t listen to his drive

[ QUOTE ]
This thread needs more lolcats.

[/ QUOTE ]

  #74  
Old 11-16-2007, 01:19 PM
Zygote Zygote is offline
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Default Re: borodog\'s mistaken understanding of M3...don\'t listen to his drive

[ QUOTE ]
"the fed devalues the dollar by printing money" it comes accross as a literal relationship.

[/ QUOTE ]

what is not literal about that relationship?

there is obviously more to learn if one wants a more detailed understanding of inflation but i see nothing inherently wrong with that statement. Care to shed some light?
  #75  
Old 11-16-2007, 01:22 PM
DcifrThs DcifrThs is offline
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Default Re: borodog\'s mistaken understanding of M3...don\'t listen to his drive

[ QUOTE ]
[ QUOTE ]
"the fed devalues the dollar by printing money" it comes accross as a literal relationship.

[/ QUOTE ]

what is not literal about that relationship?

there is obviously more to learn if one wants a more detailed understanding of inflation but i see nothing inherently wrong with that statement. Care to shed some light?

[/ QUOTE ]

because if the trading partners lower interest rates by the same amount the dollar is fine.

it implies that every time the IRs are lowered, the dollar falls. this isn't a "literal" i.e. 100% relationship but those who read a statement like that might think it is.

that is all i was correcting in the initial (bfi) thread.

if two people who both understood it said it of course it is fine. i just want to make it clearer to those who don't fully understand the drivers. espeically since currency is probably one of the harder things to truly understand (i had a tough time w/ it so possibly others would too).

Barron
  #76  
Old 11-16-2007, 01:27 PM
ALawPoker ALawPoker is offline
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Default Re: borodog\'s mistaken understanding of M3...don\'t listen to his drive

[ QUOTE ]
and yes, of course 76 will be sad to get it all in vs. AA preflop and is -EV for the 76 guy. but both players understand simply WHY!! there doesn't seem to be that understanding of why by the followers here

[/ QUOTE ]

Both players understand why because in the case of poker odds there isn't a sophisticated social and political mechanism that selects for incomplete information. If people came up with elaborate justifications to explain why getting it in with the 76 is a good idea, the people who insist it isn't don't also need elaborate justifications in order for their reasoning to be perfectly sound.
  #77  
Old 11-16-2007, 01:31 PM
DcifrThs DcifrThs is offline
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Default Re: borodog\'s mistaken understanding of M3...don\'t listen to his drive

[ QUOTE ]
[ QUOTE ]
and yes, of course 76 will be sad to get it all in vs. AA preflop and is -EV for the 76 guy. but both players understand simply WHY!! there doesn't seem to be that understanding of why by the followers here

[/ QUOTE ]

Both players understand why because in the case of poker odds there isn't a sophisticated social and political mechanism that selects for incomplete information. If people came up with elaborate justifications to explain why getting it in with the 76 is a good idea, the people who insist it isn't don't also need elaborate justifications in order for their reasoning to be perfectly sound.

[/ QUOTE ]

there is no possible justification to knowingly calling 76 vs. AA if your goal is to maximize EV and you know AA is held.

on the other hand, there are circumstances that can exist where the "printing of money by the fed" doesn't devalue the dollar.

Barron
  #78  
Old 11-16-2007, 01:35 PM
Zygote Zygote is offline
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Default Re: borodog\'s mistaken understanding of M3...don\'t listen to his drive

[ QUOTE ]
it implies that every time the IRs are lowered, the dollar falls. this isn't a "literal" i.e. 100% relationship but those who read a statement like that might think it is.


[/ QUOTE ]

The statement was regarding fed intervenion, not free market trading. When the fed intervenes and issues reserves out of air, this has a negative impact on the value of the dollar.

Same is true for fed monetizing the debt.

When fed prints money, without backing, dollar goes down just like if any other counterfitter prints money.

[ QUOTE ]

if two people who both understood it said it of course it is fine. i just want to make it clearer to those who don't fully understand the drivers. espeically since currency is probably one of the harder things to truly understand (i had a tough time w/ it so possibly others would too).



[/ QUOTE ]

I support making things clearer [img]/images/graemlins/smile.gif[/img]
  #79  
Old 11-16-2007, 01:35 PM
valenzuela valenzuela is offline
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Default Re: borodog\'s mistaken understanding of M3...don\'t listen to his drive

This thread makes me happy [img]/images/graemlins/laugh.gif[/img]
  #80  
Old 11-16-2007, 01:45 PM
ALawPoker ALawPoker is offline
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Default Re: borodog\'s mistaken understanding of M3...don\'t listen to his drive

[ QUOTE ]
on the other hand, there are circumstances that can exist where the "printing of money by the fed" doesn't devalue the dollar.

[/ QUOTE ]

These circumstances are all shortsighted. It's delaying greater future good in the name of patching an immediate problem.

It's like saying there are instances where preemptively attacking people makes us safer. In some sense, with the right spin, sure. But the simple point is that the long-term consequence will always outweigh it, no matter how elaborately you try to justify things.

You're trying to create value out of thin air. That probably comes off as nothing more than a Ron Paul talking point to you, but really, that's what you're doing. How can that possibly have any long-term EV??
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