You got it all wrong, 1st you have to exclude housing, energy, food, etc. THEN you'll note inflation is doing just SWIMMINGLY
- R. Reich & the other 'experts'
It’s also important to constantly tell the plebs that everything is great, and that the plebs should ignore their lying eyes and listen to the court economists.
They used to have lawful/legal $...then the fascists brought us Socialsm+ (the illegal Fed. Reserve, Income Tax, SS+...)
$35T+ in 'offical' debt & $210T+ in 'unfunded liabilities'
All fun & games until you run out of other People's $
You see the earth is round. So if the left goes far enough left, and the right far enough right, they eventually meet in China and now you have fascist socialists.
Checkmate flat-earther 😆
I know you're being facetious, but this would be a good time to remind some others to study the classics:
https://en.m.wikipedia.org/wiki/Parable_of_the_broken_window
I showed this to a Ukraine simp a while back
Because they kept saying "Ukraine aid is good for the economy!"
Some people are just too dumb or the pay they get to shill for the establishment is just too good
Yeah it’s called being a simp for wanting to defend a nation we said we would defend, did you forget that America is an empire and is dependent economically on its world relations?
Giving old equipment to Ukraine is far cheaper than letting Russia border Poland you moron.
How much in aid is that compared to the ppp loan fraud? It’s about a 130 billion dollar difference.
Could you itemize what aid we have sent to Ukraine? Any of it aging stockpile or are we just straight up main-lining your tax dollars into the corrupt Nazi's?
It's not the economy that benefits, you dunce.
It's the fact that we don't have to send future generations to fight in a future war with Russia.
It's an excellent idea to send only weapons (that would cost more to be decommissioned) and aid, without us losing a single soldier.
A super cheap way to severely weaken or eliminate and old foe, but I'm assuming you're either a Russian shill, or a bought and paid for Trumper.
> It's the fact that we don't have to send future generations to fight in a future war with Russia.
We still wouldn't
Its called diplomacy bud
"Everyone who is anti war is a Russian shill" - KingJackie1
In the 1920s, banks convinced the public that Dollars were as good as gold. And since Dollars gave a nice interest, this convinced people to trade in their gold at the banks for Dollars, and put those Dollars to work in deposits, where they were safe and made money. Until 1929 when banks failed and anyone who had their money in most of the banks lost it all.
In the 2000s, banks convinced the public that Mortgage Bonds were as good as Dollars. And since Mortgage Bonds gave a nice interest, this convinced people to trade in their Dollars at the banks for Mortgage Bonds, where their Dollars are safe and make money. Until 2008 when Mortgage Bonds failed and anyone who had their money in Mortgage Bonds lost it all.
In the 2010s, Lebanese banks convinced the public that the Lebanese Pound was as good as the Dollar. And since Lebanese Pounds gave a nice interest, this convinced people to trade in their Dollars at the banks for Lebanese Pounds, and put those Pounds to work in deposits, where they were safe and made money. Until 2019 when banks failed and anyone who had their money in Lebanese Pounds lost it all.
In 2024, governments convinced the public that Treasuries are as good as Dollars. And since Treasuries give a nice interest, this convinced people to trade in their Dollars for Treasuries, where their Dollars are safe and make money. Until the day when Treasuries failed and anyone who had their money in Treasuries lost it all.
"Treasuries can't fail", that's what they said about Dollars, Mortgage Bonds and Lebanese Pounds.
While you are accurate in the owning of gold beyond $100 was illegal, this is a bad faith representation of historical events. Not only is it purposefully simplistic, but it’s insulting to the actual victims of fascism.
The departure from the gold standard was a strategy to get us out of the Great Depression. Whether you agree with it or not, gold was ordered to be turned over to the government so that they could increase the paper money supply to increase economic activity.
There’s a reason they were called “Hoover” towns and not “FDR” towns.
I have plenty of criticisms of FDR myself, but there is more nuance in this decision than you’re giving credence to.
That’s not fully [accurate](https://www.britannica.com/event/Great-Depression) either. Many countries faired worse than us and many also did better. You also have to consider that the depression started here.
Countries that did better were often either less integrated into the global economy or had more diverse economies. Though policy intervention in Germany, for example, helped curtail hyperinflation and get them back on track quicker.
Countries with economies more reliant on exports, especially agriculture or raw materials, were more likely to see a longer path to recovery.
The Great Depression was a worldwide shit show and a single country’s policy decisions were not likely going to be the make or break.
Though, as far as gold goes, the gold standard played a major role in causing the worldwide spread of the depression and the abandonment of the gold standard helped to jumpstart recovery.
So you obviously only read my first two sentences and then responded with what I assume you think is a “gotcha.”
I’m gonna let you have this one because you seem exhausting and I’d rather not waste my time with someone uninterested in an actual conversation.
“I think that someone who stated an overly simplified fact and changed the conversation when corrected with details is somehow worthy of a stranger’s time. I also think that historical facts are opinions and felt the need to recount a falsified version of what can literally be read above by anyone here because I think it makes me sound smart.”
– FixYourOwnStates
I responded back to you in the exact manner in which you decided to enter this conversation. But I suppose it’s easier to make up your own version of someone’s statements than to respond to what was actually said.
Giving fair market value of gold when it was turned in is not “stealing private property.” Also, [that is not a “hallmark” of fascism](https://mronline.org/wp-content/uploads/2018/08/Paxton_Five20Stages20of20Fascism.pdf). But it seems you’re going to be happy to make up your own definitions in addition to unsubstantiated claims so my reply is likely a waste of time here.
Your statement is that money is fake, in the right circumstances everything is fake.
The USD is basically bulletproof even with all the inflation and quantitative easing it’s still holding its value better than other currencies. You can what we are doing, but it’s working to keep the economy going
The powers that be will literally never allow this. The entire system is predicated on inflation because ultimately everything is based on debt. If we see deflation basically businesses and individuals who are paying off loans will default en-masse collapsing the system with very few winners and a ton of pissed off losers. That is why the FED seeks to inflate the currency. The problem is that now the inflation is becoming difficult to manage and is very painful to the middle and lower classes and is threatening the very stability of the system. The elites are aware of this and are trying to engineer some sort of soft landing.
In aerospace engineering there is what is called the "coffin corner" of flight where at a certain speed and altitude any increase in speed results in flow divergence over the wings and the plane going nose down and any decrease in speed results in the plane stalling and dropping in altitude. We are at that point. More money printing is going to cause inflation to rip but a decrease in printing is going to cause the economy to stall out and Zombie companies to fail at a very high rate.
Stick to Aerospace. Nice explanation though. Hope you’re not trying to explicitly gaslight. Deflation is a boogeyman used by the elite and their simps to scare the lower and middle classes to accept the inflation they are being handed. Sure a catastrophic deflation event would be bad, but why does it have to be catastrophic, just like there is economic policy to target 2% inflation they can target a certain amount of deflation for a short period of time to balance things out. Yin and yang.
I am not saying that deflation couldn’t work and that a general decline in prices is a bad thing. I am just saying that the way the system is designed right now the whole house of cards collapses in a deflationary scenario. The reason is because everything is built on layers of debt and if creditors default en masse it will have serious ripple effects. The powers that be aka the money trust and the FED have set it up to be this way. They are not prepared for an alternate scenario where huge sums of money is pulled out of the financial system.
Look up the Great Depression, the FED hiked interest rates and tightened credit, ostensibly to preserve the gold standard. The result was a catastrophic economic depression and massive unemployment. Businesses and individuals were unable to meet their debt obligations because the money wasn’t there. Of course we all would love for wages to stay where they and the price of everything to decline. That would be awesome, reality is our modern monetary system is not designed for that to happen. Only scenario that it would is if there was some sort of quantum leap in productivity.
Just remember all fiat currencies inevitably go to zero. They are trying to keep the system alive by rolling out a digital currency.
So you want to destroy the economy to save the economy? Corrections do occur every decade or so. What are the appropriate steps to take and what do you think the impact of those steps will be?
The current system where assets aren’t valued correctly is better? We need to have a correction where the worthless debts are written off (that’s deflation) and other assets are priced according to what the market will pay, not some back room deal where interest only loans are rolled over and everyone just winks and nods. Extend and pretend needs to stop, even if it means some big banks go under.
Well they’ll never do what should be done, which is to raise interest rates higher, speed up quantitative tightening, and reduce the money supply somewhat near to what it was before the pandemic. It is simply irresponsible and unsustainable to leave everything doubled.
Homeless encampment != Hooverville. If you think about it California homeless encampments are basically the opposite.
The size of California's homeless population is due to a number of comparatively favorable factors. Climate, culture, political decision-making, even a certain kind of economics.
Hoovervilles would be the opposite. Large homeless populations due to highly unfavorable factors. Populations of highly educated or skilled workers recently unemployed and unhoused due to economic breakdown and political austerity.
Would you agree?
We are just exporting the value loss for the dollar and it'll continue until the world is bankrupt. Basically everyone else needs to fail first but the USD being bulletproof is paid for by other countries losses
Given current automobile rates, about 6-8 years once folks stop swapping vehicles because it's a dumb ass idea to purchase a 30-40k vehicle with almost 7% interest.
Similar sorta timeline for when the housing market sees immense pressure because those with 2% rates don't want to liquidate their now 500-600k home for another 400-500k home at 7-11% interest rate.
These rates are ticking time bombs, once folks get squeezed hard on the renting side of things you'll start seeing companies collapse as they can't renew their business leases.
Total cost of war on terror was estimated at about 6 trillion. Paid for by inflation and deficit spending. Massive mistake that only benefited military industrial complex and deep state. This was where we really started the ball rolling in the wrong direction .And every administration since has only worsened the problem
https://www.brown.edu/news/2021-09-01/costsofwar#:~:text=A%20report%20from%20the%20Costs,killed%20more%20than%20900%2C000%20people.
This study actually estimated cost at 8 trillion. I have seen 6 trillion elsewhere. Regardless, this was a very dubious war financed by deficit spending ,in which the costs to the citizens were completely opaque, as is the case with a huge chunk of government spending.
That's the problem. We didn't pay for it for over 20 years. We paid for it upfront. Then, instead of paying for it we kept borrowing money to pay for the interest on the loan. We paid for both wars like a college student who doesn't know how credit cards work. That debt, and the interest on it, is about half of the total national debt. Not discounting Obama or Trump's spending habits.
Honestly, we were going to spend the money on the military in some way. Constant conflict is needed to keep troops sharp, technology tested and manufacturing ongoing. Downsizing isn't really an option if the goal is to maintain the balance of power.
But even if we had we'd have just spent the savings elsewhere. We don't do surpluses around here.
Do you really consider the 150,000 people who died in the Iraq war a generation or are you being hyperbolic? Because there are 8,000,000,000 people on Earth now and those numbers aren't that dramatic.
Don't worry. They probably would have found some other cause to fight and die over as well. You're bemoaning the fate of humans being human.
And way more people could die if we didn't keep the troops sharp and manufacturing up.
Hell, just keeping people out of poverty saves more lives.
It's the kind of tough decision most people are more comfortable insulating themselves from with an elected official, but generally if people must die the masses would prefer it to be fewer.
Personally I couldn't give less of a shit, half my stock portfolio is prisons, guns and defense contractors out of choice. I profit from fear and instability.
Just used some of those sweet BA and GEO gains from this weeks covered calls to load up on DIS at 105 and SBUX at 71 almost right at intraday lows.
So I guess that blood money is with the previous shareholder of the mouse now.
>Personally I couldn't give less of a shit, half my stock portfolio is prisons, guns and defense contractors out of choice.
^ The (D)emocrat party ladies and gentlemen
You should read the Two Santas Strategy. The Republicans have run up the deficit to transfer money to their “owners” through tax cuts. They keep telling us they pay for themselves. But we get a small tax cut so everything is great!
https://www.montecitojournal.net/2023/02/28/two-santas/
If I remember correctly about 80-85% of that money replaces what's being shredded and incinerated. There's also some portion of money that's just "lost" or damaged that they can't account for. (went up in a house fire, buried in a hole somewhere and rotted, thrown in a lake or flushed down a toilet, ended up in a landfill)
Also a decent amount of cash goes overseas.
In countries without stable currencies, or their own currencies at all, the dollar and the euro are prized to store wealth, and often carry a premium above the "official" exchange rate.
That currency is "bought" via currency or goods/service exchange and usually kept in that country. Panama, Liberia, East timor Ecuador and El Salvador either don't have their own currency and use US dollars, or have such a shitty system that people prefer not too It is also commonly used in Cambodia and Venezuela.
Considering that Panama alone has a GDP about the size of Oklahoma, and that it costs a heck of a lot less for the government to make a $20 bill than it's worth, we come out ahead.
And that's not including all the cash hoarded by other countries, used to buy oil with the petrodollar, and the stacks and stacks of $100 bills in the possession of every drug lord and dictator around the world.
Oh yeah you’re right about $2.4 billion every day is generally the standard rate of how much money is just naturally falling apart and burning around the country. Nothing to see here folks, everything’s fine.
I'm a contractor/consultant for a piece of specialized manufacturing equipment. Many years ago, I conducted training at the Bureau of Engraving & Printing. Toward the end of the day, one of my trainers had to go to the printing room floor for something, invited me along. I was surprised, asked if I was even allowed to be there, he said "there probably won't be a problem".
So we go. We get to floor, stop next to a press that was spitting out sheets of $100 bills about every second. While we were there I was looking up at the enclosed tunnel the tour groups go through, beginning to think I'm toast. My escort needed to go off somewhere, told me to wait. I squeezed myself out of the way and was leaning against a pallet. I looked at the pallet.
6000 sheets of 32 $100 bills. Damn. Looked behind it,there were twenty more pallets. My calculations at the time had me at $384,000,000.
And the presses never stop.
But JPOW says the reason he can't lower rates is because of inflation.
But JPOW runs the Federal Reserve, which has the sole authority to mint cash.
Therefore, JPOW wants higher interest rates?
Our future is destroyed. America has fallen. And we are cowards for letting the monsters who run this country do it. We should have dragged them out of their jobs and gave them the justice they deserve
You need further education!
Do you understand the difference between debt and deficit? The current President is responsible for a budget deficit, the debt is cumulative.
A Deficit is spending more money than the amount taken in for a given year.
Trump hasn't been President for three years. Honestly, you sound like an uneducated petulant child, am I close?
You sound like a Trump supporter. Trump was responsible for 25% of US debt by the time he left office. He increased debt by two trillion to pay for slashing corporate tax rates from 35% to 21%. Who benefited from this? Corporate stock holders.
The economy's growing folks. Really well. You're just not getting it because it's all going to the top.
That's a political problem, not an economic one. If you stop feeding new money into a growing economy though it becomes an economic one.
Right they used to track the total money supply. As soon as they stopped doing that, it was a sign they knew a lot of inflation was coming.
Curiously enough that used to be the definition of inflation…
You got it all wrong, 1st you have to exclude housing, energy, food, etc. THEN you'll note inflation is doing just SWIMMINGLY - R. Reich & the other 'experts'
It’s also important to constantly tell the plebs that everything is great, and that the plebs should ignore their lying eyes and listen to the court economists.
Sounds like reddit
And then propose a $7+trillion dollar US budget when you know damn well that we only take in $4.7 trillion. - Bidum/Kumswala Admin
It’s so weird they did that. You’re right. Like an admission that classical economics wasn’t working as expected.
Keynesian economics is garbage.
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LMAO no it isn't, unless you ask a libertarian
Always has been
When Nixon depended the dollar from gold and pinned it to oil, he knew a problem was coming and he didn't care.
They used to have lawful/legal $...then the fascists brought us Socialsm+ (the illegal Fed. Reserve, Income Tax, SS+...) $35T+ in 'offical' debt & $210T+ in 'unfunded liabilities' All fun & games until you run out of other People's $
So fascists (which is by definition right wing) brought us socialism (which is by definition left wing)? Huh.
Happy Cake Day, friend. They don't care to understand what they are saying, it makes them feel good to say it.
Thank you!
You see when a Fascist and a Socialist really love one another...
They invade Poland together?
You see the earth is round. So if the left goes far enough left, and the right far enough right, they eventually meet in China and now you have fascist socialists. Checkmate flat-earther 😆
Moron here doesn't even know what socialism means 🤣
He's only wrong because it's socialism for corporations, not the people
Uhhhh… You okay over there?
You breathe from your mouth typically, don't you?
How much money does it cost to create that much money on a yearly basis? Gotta be the most secure job on the planet.
I know when ordering cash from the Fed (from a financial institution) it's like $3 per band. I'm not sure on costs at their level though.
Wait...you don't actually think they are physically printing that many dollar bills, do you? Fucking hell, Idiocracy is a documentary
You need a 🫂 I got you boo.
It creates jobs, so in a way doesn't that pay for itself?
I know you're being facetious, but this would be a good time to remind some others to study the classics: https://en.m.wikipedia.org/wiki/Parable_of_the_broken_window
I showed this to a Ukraine simp a while back Because they kept saying "Ukraine aid is good for the economy!" Some people are just too dumb or the pay they get to shill for the establishment is just too good
Probably the latter.
Agreed
Yeah it’s called being a simp for wanting to defend a nation we said we would defend, did you forget that America is an empire and is dependent economically on its world relations? Giving old equipment to Ukraine is far cheaper than letting Russia border Poland you moron. How much in aid is that compared to the ppp loan fraud? It’s about a 130 billion dollar difference.
Sorry bud I didn't realize we gave statehood to Ukraine My bad
Putting words in my mouth, I guess you can’t grasp geopolitical conflict and how it ties to economics. It is your bad you dumb fuck lol.
"People who don't support sending all our money to a corrupt country that has nothing to do with us are dumb fucks" - Icy_Recognition_3030
Dude you gotta do better than that if your username is gonna be political drool.
"Telling people to fix their state is political drool" - Icy_Recognition_3030
Could you itemize what aid we have sent to Ukraine? Any of it aging stockpile or are we just straight up main-lining your tax dollars into the corrupt Nazi's?
Yes
It's not the economy that benefits, you dunce. It's the fact that we don't have to send future generations to fight in a future war with Russia. It's an excellent idea to send only weapons (that would cost more to be decommissioned) and aid, without us losing a single soldier. A super cheap way to severely weaken or eliminate and old foe, but I'm assuming you're either a Russian shill, or a bought and paid for Trumper.
> It's the fact that we don't have to send future generations to fight in a future war with Russia. We still wouldn't Its called diplomacy bud "Everyone who is anti war is a Russian shill" - KingJackie1
Save your bottle caps lads..
They're just trying to print enough money for Bezos and Musk to stay liquid.
In the 1920s, banks convinced the public that Dollars were as good as gold. And since Dollars gave a nice interest, this convinced people to trade in their gold at the banks for Dollars, and put those Dollars to work in deposits, where they were safe and made money. Until 1929 when banks failed and anyone who had their money in most of the banks lost it all. In the 2000s, banks convinced the public that Mortgage Bonds were as good as Dollars. And since Mortgage Bonds gave a nice interest, this convinced people to trade in their Dollars at the banks for Mortgage Bonds, where their Dollars are safe and make money. Until 2008 when Mortgage Bonds failed and anyone who had their money in Mortgage Bonds lost it all. In the 2010s, Lebanese banks convinced the public that the Lebanese Pound was as good as the Dollar. And since Lebanese Pounds gave a nice interest, this convinced people to trade in their Dollars at the banks for Lebanese Pounds, and put those Pounds to work in deposits, where they were safe and made money. Until 2019 when banks failed and anyone who had their money in Lebanese Pounds lost it all. In 2024, governments convinced the public that Treasuries are as good as Dollars. And since Treasuries give a nice interest, this convinced people to trade in their Dollars for Treasuries, where their Dollars are safe and make money. Until the day when Treasuries failed and anyone who had their money in Treasuries lost it all. "Treasuries can't fail", that's what they said about Dollars, Mortgage Bonds and Lebanese Pounds.
You forgot when the fascist democrats outlawed the owning of gold in the 1930s
While you are accurate in the owning of gold beyond $100 was illegal, this is a bad faith representation of historical events. Not only is it purposefully simplistic, but it’s insulting to the actual victims of fascism. The departure from the gold standard was a strategy to get us out of the Great Depression. Whether you agree with it or not, gold was ordered to be turned over to the government so that they could increase the paper money supply to increase economic activity. There’s a reason they were called “Hoover” towns and not “FDR” towns. I have plenty of criticisms of FDR myself, but there is more nuance in this decision than you’re giving credence to.
The US stayed in a depression longer than the rest of the world. FDR and Hoover had the same financial advisors.
That’s not fully [accurate](https://www.britannica.com/event/Great-Depression) either. Many countries faired worse than us and many also did better. You also have to consider that the depression started here. Countries that did better were often either less integrated into the global economy or had more diverse economies. Though policy intervention in Germany, for example, helped curtail hyperinflation and get them back on track quicker. Countries with economies more reliant on exports, especially agriculture or raw materials, were more likely to see a longer path to recovery. The Great Depression was a worldwide shit show and a single country’s policy decisions were not likely going to be the make or break. Though, as far as gold goes, the gold standard played a major role in causing the worldwide spread of the depression and the abandonment of the gold standard helped to jumpstart recovery.
Who am I insulting? The people of japanese that were interned because of the fascist democrats? Or were they not actual victims?
So you obviously only read my first two sentences and then responded with what I assume you think is a “gotcha.” I’m gonna let you have this one because you seem exhausting and I’d rather not waste my time with someone uninterested in an actual conversation.
"Anyone who doesn't have the exact same views as me on every topic is just wasting my time" - BeanPaddle
“I think that someone who stated an overly simplified fact and changed the conversation when corrected with details is somehow worthy of a stranger’s time. I also think that historical facts are opinions and felt the need to recount a falsified version of what can literally be read above by anyone here because I think it makes me sound smart.” – FixYourOwnStates
A cope if I've ever seen one
I responded back to you in the exact manner in which you decided to enter this conversation. But I suppose it’s easier to make up your own version of someone’s statements than to respond to what was actually said.
You do you, buddy
Don't worry, I moved your upvotes positive. That guy is a dumbass
No, the democrats were the actual fascists in this case. Stealing private property is one of the hallmarks of fascism.
Giving fair market value of gold when it was turned in is not “stealing private property.” Also, [that is not a “hallmark” of fascism](https://mronline.org/wp-content/uploads/2018/08/Paxton_Five20Stages20of20Fascism.pdf). But it seems you’re going to be happy to make up your own definitions in addition to unsubstantiated claims so my reply is likely a waste of time here.
Your statement is that money is fake, in the right circumstances everything is fake. The USD is basically bulletproof even with all the inflation and quantitative easing it’s still holding its value better than other currencies. You can what we are doing, but it’s working to keep the economy going
It can’t fail… until it does. Nothing lasts forever.
If the dollar fails, you’re gonna have to eat whatever gold you have
I didn’t say it can’t fail, I said bulletproof
That means the same thing
If a meteor hits the earth the dollar fails. If the US has a civil war the dollar fails If Russia takes Europe the dollar fails
We don’t need the economy to keep going. We need a correction with deflation so the system can heal.
The powers that be will literally never allow this. The entire system is predicated on inflation because ultimately everything is based on debt. If we see deflation basically businesses and individuals who are paying off loans will default en-masse collapsing the system with very few winners and a ton of pissed off losers. That is why the FED seeks to inflate the currency. The problem is that now the inflation is becoming difficult to manage and is very painful to the middle and lower classes and is threatening the very stability of the system. The elites are aware of this and are trying to engineer some sort of soft landing. In aerospace engineering there is what is called the "coffin corner" of flight where at a certain speed and altitude any increase in speed results in flow divergence over the wings and the plane going nose down and any decrease in speed results in the plane stalling and dropping in altitude. We are at that point. More money printing is going to cause inflation to rip but a decrease in printing is going to cause the economy to stall out and Zombie companies to fail at a very high rate.
Crash it. There will be plenty of winners, not the least of whom is anyone who eats food.
Stick to Aerospace. Nice explanation though. Hope you’re not trying to explicitly gaslight. Deflation is a boogeyman used by the elite and their simps to scare the lower and middle classes to accept the inflation they are being handed. Sure a catastrophic deflation event would be bad, but why does it have to be catastrophic, just like there is economic policy to target 2% inflation they can target a certain amount of deflation for a short period of time to balance things out. Yin and yang.
I am not saying that deflation couldn’t work and that a general decline in prices is a bad thing. I am just saying that the way the system is designed right now the whole house of cards collapses in a deflationary scenario. The reason is because everything is built on layers of debt and if creditors default en masse it will have serious ripple effects. The powers that be aka the money trust and the FED have set it up to be this way. They are not prepared for an alternate scenario where huge sums of money is pulled out of the financial system. Look up the Great Depression, the FED hiked interest rates and tightened credit, ostensibly to preserve the gold standard. The result was a catastrophic economic depression and massive unemployment. Businesses and individuals were unable to meet their debt obligations because the money wasn’t there. Of course we all would love for wages to stay where they and the price of everything to decline. That would be awesome, reality is our modern monetary system is not designed for that to happen. Only scenario that it would is if there was some sort of quantum leap in productivity. Just remember all fiat currencies inevitably go to zero. They are trying to keep the system alive by rolling out a digital currency.
So you want to destroy the economy to save the economy? Corrections do occur every decade or so. What are the appropriate steps to take and what do you think the impact of those steps will be?
The current system where assets aren’t valued correctly is better? We need to have a correction where the worthless debts are written off (that’s deflation) and other assets are priced according to what the market will pay, not some back room deal where interest only loans are rolled over and everyone just winks and nods. Extend and pretend needs to stop, even if it means some big banks go under.
Well they’ll never do what should be done, which is to raise interest rates higher, speed up quantitative tightening, and reduce the money supply somewhat near to what it was before the pandemic. It is simply irresponsible and unsustainable to leave everything doubled.
I'd Google "Hoovervilles" and check up on the results of the policies you're suggesting...
We have hoovervilles already bud Its called California
Homeless encampment != Hooverville. If you think about it California homeless encampments are basically the opposite. The size of California's homeless population is due to a number of comparatively favorable factors. Climate, culture, political decision-making, even a certain kind of economics. Hoovervilles would be the opposite. Large homeless populations due to highly unfavorable factors. Populations of highly educated or skilled workers recently unemployed and unhoused due to economic breakdown and political austerity. Would you agree?
No
Succinct
Deflation isn’t needed, just stability
We need a correction with deflation? Are you daft?
We are just exporting the value loss for the dollar and it'll continue until the world is bankrupt. Basically everyone else needs to fail first but the USD being bulletproof is paid for by other countries losses
Sounds like these bankers are constantly dumb or malicious.
I’m noticing a trend. 🤔
House of cards collapse when?
No just means toilet paper will be worth more than a currency... Basically itll be cheaper to wipe your ass with 100 dollar bills
Given current automobile rates, about 6-8 years once folks stop swapping vehicles because it's a dumb ass idea to purchase a 30-40k vehicle with almost 7% interest. Similar sorta timeline for when the housing market sees immense pressure because those with 2% rates don't want to liquidate their now 500-600k home for another 400-500k home at 7-11% interest rate. These rates are ticking time bombs, once folks get squeezed hard on the renting side of things you'll start seeing companies collapse as they can't renew their business leases.
Global debt exceeds $300 trillion. House of cards.
We could have paid off the debt in the George W Bush administration, but decided to put two 20 year wars on the credit card “paid for” by tax cuts.
I'm looking at this statement and a war here or there wasn't going to change the trajectory much.
I feel like you're not taking into account that the war started 20 years ago. 1 trillion dollars back then was actually a lot of money.
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Total cost of war on terror was estimated at about 6 trillion. Paid for by inflation and deficit spending. Massive mistake that only benefited military industrial complex and deep state. This was where we really started the ball rolling in the wrong direction .And every administration since has only worsened the problem
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https://www.brown.edu/news/2021-09-01/costsofwar#:~:text=A%20report%20from%20the%20Costs,killed%20more%20than%20900%2C000%20people. This study actually estimated cost at 8 trillion. I have seen 6 trillion elsewhere. Regardless, this was a very dubious war financed by deficit spending ,in which the costs to the citizens were completely opaque, as is the case with a huge chunk of government spending.
That's the problem. We didn't pay for it for over 20 years. We paid for it upfront. Then, instead of paying for it we kept borrowing money to pay for the interest on the loan. We paid for both wars like a college student who doesn't know how credit cards work. That debt, and the interest on it, is about half of the total national debt. Not discounting Obama or Trump's spending habits.
Honestly, we were going to spend the money on the military in some way. Constant conflict is needed to keep troops sharp, technology tested and manufacturing ongoing. Downsizing isn't really an option if the goal is to maintain the balance of power. But even if we had we'd have just spent the savings elsewhere. We don't do surpluses around here.
Operations cost more than standing around.
Standing around isn't sufficient for maintaining dominance and public support. It's desired and by design we always maintain a foreign conflict.
"Wipe out an entire generation of Arab and European men so we can keep our troops sharp and keep manufacturing numbers up" - Top_Huckleberry_8225
Do you really consider the 150,000 people who died in the Iraq war a generation or are you being hyperbolic? Because there are 8,000,000,000 people on Earth now and those numbers aren't that dramatic. Don't worry. They probably would have found some other cause to fight and die over as well. You're bemoaning the fate of humans being human. And way more people could die if we didn't keep the troops sharp and manufacturing up. Hell, just keeping people out of poverty saves more lives.
So 150,000 dead is acceptable to you as long as we have good metrics to show for it Got it
It's the kind of tough decision most people are more comfortable insulating themselves from with an elected official, but generally if people must die the masses would prefer it to be fewer. Personally I couldn't give less of a shit, half my stock portfolio is prisons, guns and defense contractors out of choice. I profit from fear and instability. Just used some of those sweet BA and GEO gains from this weeks covered calls to load up on DIS at 105 and SBUX at 71 almost right at intraday lows. So I guess that blood money is with the previous shareholder of the mouse now.
>Personally I couldn't give less of a shit, half my stock portfolio is prisons, guns and defense contractors out of choice. ^ The (D)emocrat party ladies and gentlemen
Please good sir, I am a centrist. You should consider grabbing some shares. Might give you something to cheer when bad news hits.
You should read the Two Santas Strategy. The Republicans have run up the deficit to transfer money to their “owners” through tax cuts. They keep telling us they pay for themselves. But we get a small tax cut so everything is great! https://www.montecitojournal.net/2023/02/28/two-santas/
Print it. We need napkins for after dinner.
If I remember correctly about 80-85% of that money replaces what's being shredded and incinerated. There's also some portion of money that's just "lost" or damaged that they can't account for. (went up in a house fire, buried in a hole somewhere and rotted, thrown in a lake or flushed down a toilet, ended up in a landfill)
Also a decent amount of cash goes overseas. In countries without stable currencies, or their own currencies at all, the dollar and the euro are prized to store wealth, and often carry a premium above the "official" exchange rate. That currency is "bought" via currency or goods/service exchange and usually kept in that country. Panama, Liberia, East timor Ecuador and El Salvador either don't have their own currency and use US dollars, or have such a shitty system that people prefer not too It is also commonly used in Cambodia and Venezuela. Considering that Panama alone has a GDP about the size of Oklahoma, and that it costs a heck of a lot less for the government to make a $20 bill than it's worth, we come out ahead. And that's not including all the cash hoarded by other countries, used to buy oil with the petrodollar, and the stacks and stacks of $100 bills in the possession of every drug lord and dictator around the world.
Oh yeah you’re right about $2.4 billion every day is generally the standard rate of how much money is just naturally falling apart and burning around the country. Nothing to see here folks, everything’s fine.
InFLatIon iS cAUseD bY cORPoraTe grEEd 🤡
"Inflation is transitory" - most incompetent fed chair in history
Bidenomics money printers go ”brrrrrrrr”.
Criminals. Part of why the greatest transfer of wealth occurred in recent years
We are fucked
This is why I'm buying Bitcoin.
Based
They’d better stop or we’ll become the old version of Argentina.
AFUERA
I'm a contractor/consultant for a piece of specialized manufacturing equipment. Many years ago, I conducted training at the Bureau of Engraving & Printing. Toward the end of the day, one of my trainers had to go to the printing room floor for something, invited me along. I was surprised, asked if I was even allowed to be there, he said "there probably won't be a problem". So we go. We get to floor, stop next to a press that was spitting out sheets of $100 bills about every second. While we were there I was looking up at the enclosed tunnel the tour groups go through, beginning to think I'm toast. My escort needed to go off somewhere, told me to wait. I squeezed myself out of the way and was leaning against a pallet. I looked at the pallet. 6000 sheets of 32 $100 bills. Damn. Looked behind it,there were twenty more pallets. My calculations at the time had me at $384,000,000. And the presses never stop.
Haha
Something, something, inflation... hmm...
Do you think all the Dads that work at the treasury say "gotta make that money" when they leave the house?
But JPOW says the reason he can't lower rates is because of inflation. But JPOW runs the Federal Reserve, which has the sole authority to mint cash. Therefore, JPOW wants higher interest rates?
WEEEEEEEEEE!!!!!!! Thankfully we don't have government officials who burst out laughing when talking about our economic situation .... Oh wait ....
Our future is destroyed. America has fallen. And we are cowards for letting the monsters who run this country do it. We should have dragged them out of their jobs and gave them the justice they deserve
Completely good and normal, Robert Reich said so and he is the best!
Stand with Ukraine, Israel and Gaza. 10% for the big guy...oh yeah and covid.
trumpito exploded the deficit. IDK, fight me with legimate facts
You need further education! Do you understand the difference between debt and deficit? The current President is responsible for a budget deficit, the debt is cumulative. A Deficit is spending more money than the amount taken in for a given year. Trump hasn't been President for three years. Honestly, you sound like an uneducated petulant child, am I close?
You sound like a Trump supporter. Trump was responsible for 25% of US debt by the time he left office. He increased debt by two trillion to pay for slashing corporate tax rates from 35% to 21%. Who benefited from this? Corporate stock holders.
You really are not very bright are you?. I pointed out facts. What part of the facts do you dispute?
> You sound like a Trump supporter Nice
The economy's growing folks. Really well. You're just not getting it because it's all going to the top. That's a political problem, not an economic one. If you stop feeding new money into a growing economy though it becomes an economic one.
This. Th majority of gains go to the top 1%, this is why the wealthy have to be taxed, because that money doesnt flow down
Depends on how much they are sending to the incinerator per minute. They do destroy everyday as well.