{"id":17961,"date":"2021-03-14T08:12:57","date_gmt":"2021-03-14T15:12:57","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=17961"},"modified":"2021-03-14T08:12:57","modified_gmt":"2021-03-14T15:12:57","slug":"overnight-news-building-the-perfect-mudpie-how-crypto-currencies-destroy-wealth-by-pretending-to-create-it","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/17961\/overnight-news-building-the-perfect-mudpie-how-crypto-currencies-destroy-wealth-by-pretending-to-create-it\/","title":{"rendered":"Overnight News: Building the perfect mudpie: How crypto-currencies destroy wealth by pretending to create\u00a0it."},"content":{"rendered":"

\"Ya

\u201cIf drooling caused food, I would need an updated\u00a0photo.\u201d<\/p><\/div>The economic theory behind crypto-currencies is not that far from Marx’ Labor Theory of Value: Pointless activity pursued rigorously creates new value.<\/p>\n

That’s absurd, of course, but long cons always are. But the inverse of that stupid ‘theory’ is surely true: Pointless activity destroys wealth.<\/a><\/p>\n

There’s nothing wrong with doing the crossword puzzle. Just don’t call it work.<\/p>\n

In other news:<\/em><\/strong><\/p>\n

National Review:<\/strong> New Yorkers Must Be Punished: A Modest Proposal.<\/a><\/p>\n

American Thinker:<\/strong> Why is Biden releasing thousands of Covid-positive migrants into the country?<\/a><\/p>\n

Matt Taibbi:<\/strong> The Sovietization of the American Press: The transformation from phony “objectivity” to open one-party orthodoxy hasn’t been an improvement.<\/a><\/p>\n

The Pipeline:<\/strong> No More Cakes and Ale.<\/a><\/p>\n

American Greatness:<\/strong> Are We Still Free?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u201cIf drooling caused food, I would need an updated\u00a0photo.\u201dThe economic theory behind crypto-currencies is not that far from Marx’ Labor Theory of Value: Pointless activity pursued rigorously creates new value. That’s absurd, of course, but long cons always are. But the inverse of that stupid ‘theory’ is surely true: Pointless activity destroys wealth. There’s nothing […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[29,26,6,5],"tags":[],"class_list":{"0":"post-17961","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-group-therapy","7":"category-lending","8":"category-marketing","9":"category-real-estate","11":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":12184,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/12184\/per-capita-wealth-and-poverty-in-a-given-political-economy-is-strongly-correlated-both-with-economic-freedom-and-oppression-and-with-the-perception-of-integrity-or-corruption-among-government-official\/","url_meta":{"origin":17961,"position":0},"title":"Per-capita wealth and poverty in a given political economy is strongly correlated both with economic freedom and oppression and with the perception of integrity or corruption among government officials.","author":"Greg Swann","date":"June 7, 2010","format":false,"excerpt":"Countries that pursue policies of economic freedom have rich populations. Countries that obstruct free enterprise have poor populations. The relative wealth or poverty of a given population is strongly correlated with and can be readily predicted from the level of economic oppression in that political economy. This is easily understood\u2026","rel":"","context":"In "Big Mother"","block_context":{"text":"Big Mother","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/big-mother\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3282,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3282\/casual-friday-caption-this-photo\/","url_meta":{"origin":17961,"position":1},"title":"Casual Friday: Caption this photo","author":"Greg Swann","date":"June 27, 2008","format":false,"excerpt":"My entry: \"Because I happen to like Argyle socks, that's why!\"","rel":"","context":"In "Casual Friday"","block_context":{"text":"Casual Friday","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/casual-friday\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3822,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3822\/caption-this-photo-president-bush-at-the-olympics\/","url_meta":{"origin":17961,"position":2},"title":"Caption this photo: President Bush at the Olympics","author":"Greg Swann","date":"August 9, 2008","format":false,"excerpt":"My entry: \"A gentleman always makes eye-contact.\"","rel":"","context":"In "Casual Friday"","block_context":{"text":"Casual Friday","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/casual-friday\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8385,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/8385\/caption-me-this-magnum\/","url_meta":{"origin":17961,"position":3},"title":"Caption Me This Magnum","author":"Brian Brady","date":"May 13, 2009","format":false,"excerpt":"My vote?\u00a0 \"Who let Higgins in to your closet, Thomas? \" Sometimes, you just gotta have a sense of humor.","rel":"","context":"In "Casual Friday"","block_context":{"text":"Casual Friday","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/casual-friday\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3289,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3289\/shout-out-a-toast-to-life-abundant-and-caption-this-photo\/","url_meta":{"origin":17961,"position":4},"title":"Shout out a toast to life abundant — and caption this photo","author":"Greg Swann","date":"June 28, 2008","format":false,"excerpt":"Sez me: \"Bill Gates stole this facial expression from me and I want it back!\"","rel":"","context":"In "Casual Friday"","block_context":{"text":"Casual Friday","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/casual-friday\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":14685,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/14685\/caption-obama-before-his-face-freezes-like-that\/","url_meta":{"origin":17961,"position":5},"title":"Caption Obama — before his face freezes like that.","author":"Greg Swann","date":"June 15, 2011","format":false,"excerpt":"My vote: \"I don't get it. This stunt always used to work with my Gammy.\"","rel":"","context":"In "Big Mother"","block_context":{"text":"Big Mother","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/big-mother\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/17961","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=17961"}],"version-history":[{"count":1,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/17961\/revisions"}],"predecessor-version":[{"id":17962,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/17961\/revisions\/17962"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=17961"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=17961"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=17961"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}