Comments on: Peculium, and the State as Overlord http://www.stephankinsella.com/2009/06/23/peculium-and-the-state-as-overlord/ Austro-Anarchist Libertarian Legal Theory Fri, 12 Mar 2010 17:12:35 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Happy We-Should-Restore-The-Monarchy-And-Rejoin-Britain Day! http://www.stephankinsella.com/2009/06/23/peculium-and-the-state-as-overlord/comment-page-1/#comment-312 Happy We-Should-Restore-The-Monarchy-And-Rejoin-Britain Day! Fri, 03 Jul 2009 23:57:06 +0000 http://www.stephankinsella.com/?p=942#comment-312 [...] another name; he can tax and murder us, just like the dreaded monarchian boogey-man; the state is overlord of all our property, as in feudalism. And rejoining socialist Britain now would be [...] [...] another name; he can tax and murder us, just like the dreaded monarchian boogey-man; the state is overlord of all our property, as in feudalism. And rejoining socialist Britain now would be [...]

]]> By: David C. http://www.stephankinsella.com/2009/06/23/peculium-and-the-state-as-overlord/comment-page-1/#comment-141 David C. Tue, 23 Jun 2009 19:27:34 +0000 http://www.stephankinsella.com/?p=942#comment-141 The extent to which people believe those managing the state are apt to steal their property (real estate, bank balances, gold coins, etc.) is a significant part of that property's value on the market. In this respect, we could compare this man-made reduction of value to that of nature when evaluating the price of a beach house in an active hurricane zone (not that this is much of a revelation). Thus we see that what we're talking about is a facet of mass psychology, a perception that is only tangentially related to the "facts." In this regard, as with other markets, fluctuations of price are heavily impacted by the perception of the state's managers' kleptocratic tendencies. Since we (the U.S., and largely the West) entered a bear market in social mood of magnitude not seen since the 1720-1784 bear market (British stock prices), political uncertainty will play a large role in the collapse in dollar prices of many asset classes during the next 5-8 years and periodically thereafter for a long, long time. While logic does not dictate market prices, your point about the state's final ownership of property, combined with a current and continuing collapse in tax receipts as income, sales, and property taxes plummet, tells us that real tax rates are going to skyrocket. Guido always gets his pound of flesh. The extent to which people believe those managing the state are apt to steal their property (real estate, bank balances, gold coins, etc.) is a significant part of that property’s value on the market. In this respect, we could compare this man-made reduction of value to that of nature when evaluating the price of a beach house in an active hurricane zone (not that this is much of a revelation).

Thus we see that what we’re talking about is a facet of mass psychology, a perception that is only tangentially related to the “facts.” In this regard, as with other markets, fluctuations of price are heavily impacted by the perception of the state’s managers’ kleptocratic tendencies.

Since we (the U.S., and largely the West) entered a bear market in social mood of magnitude not seen since the 1720-1784 bear market (British stock prices), political uncertainty will play a large role in the collapse in dollar prices of many asset classes during the next 5-8 years and periodically thereafter for a long, long time.

While logic does not dictate market prices, your point about the state’s final ownership of property, combined with a current and continuing collapse in tax receipts as income, sales, and property taxes plummet, tells us that real tax rates are going to skyrocket.

Guido always gets his pound of flesh.

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