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  1. #341
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    Quote Originally Posted by otrlt View Post
    To All;
    Inflation is dead, the current administration and the previous has been working at increasing demand and inflation of capital goods, but it will take some time. Inflation is good, we haven't seen any of it for more than 25 years.

    Deflation is your worst nightmare, talk to anyone over 90 and they will tell you what it's like.
    We haven't seen any inflation since 1995 or so?

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    If I want to see inflation ,dont need to go far.....council rates and charges rising 10% every year...state government charges ,like vehicle rego going up 5+% a year, insurance premiums going up 10% a year.....the supposed low wage growth is mainly to do with gig work and part time......fancy riding a partially electric powered bicycle delivering pizzas?.Low wage growth is more about multinationals having the best lawyers and financial muscle to bypass wage laws.

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    Otrit-
    It’s a good run eh:

    93f09856-a8d5-47fd-8ee3-f6d775155981.jpg

  4. #344
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    Quote Originally Posted by PeteM View Post
    We haven't seen any inflation since 1995 or so?
    No recessions, either ... in some people's universe

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    In the coming decade we will see the automation of all work ,and the political power of the not working become a decisive factor in democratic government....Their demands will certainly be for generous wage replacement payments from government.Exactly how this will happen ,we shall see.I suspect the era of non government ownership will have ended by 2040,and everything will he held by the state.

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    Quote Originally Posted by Trboatworks View Post
    Otrit-
    It’s a good run eh:

    93f09856-a8d5-47fd-8ee3-f6d775155981.jpg
    Flip side is this:

    us-gross-national-debt-2011-2019-11-02.jpg

    Kind of like a family living on credit cards and thinking -- hey, we must be really smart to be doing so well?

    My generation inherited the world's largest economy, its best schools and R&D, infrastructure the envy of the world, allies who trusted us to lead, a robust free press, reasonably honest government, a sense of shame and morality, a willingness to tell truth to power, bi-partisan politicians, world leadership in science and technology, mostly clean (or cleaned up) water and air, a hospitable climate, ever-improving health and longevity, the world's manufacturing powerhouse, world trade denominated in dollars, finance that actually financed things, a healthy free press, robust supply chains, reasonably free and transparent markets, and middle and professional classes that were the envy of the world . . .
    Seems much of what now passes for GDP (say, in finance, oil, healthcare, maybe defense sales to best buddies like the Saudis) is based more on borrowing or stealing from this inheritance rather than actually creating new and enduring value. Could be future generations will look at us like spoiled brats spending the capital and trust previous generations built and thinking ourselves masters of the universe for it??

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    "Kind of like a family living on credit cards and thinking -- hey, we must be really smart to be doing so well?

    Repblicans - your tax and spend experts.

    When the criminals are not busy pardoning their criminal buddies, for pay.

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    Quote Originally Posted by jim rozen View Post
    "Kind of like a family living on credit cards and thinking -- hey, we must be really smart to be doing so well?

    Repblicans - your tax and spend experts.

    When the criminals are not busy pardoning their criminal buddies, for pay.
    Rent Free.

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    Quote Originally Posted by CAMasochism View Post
    Rent Free.
    Brought to you by the greatest real estate manager of all time.

    Who's senate seat was Blago trying to sell

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    Is there a statute of limitation on acts of coercion, contempt of court or the obstruction of justice?

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    Quote Originally Posted by PeteM View Post
    .
    Kind of like a family living on credit cards and thinking -- hey, we must be really smart to be doing so well?
    If you played the game, maxed out $100,000 on all the credit cards you could and put that money into APPL and TSLA one year ago how would you be sitting on for cash if you sold tomorrow?
    Certainly I would not advise this but you would have a very big pile of money.

    If the national debt runs how does that affect the balance in my checking account or money passed onto the next generations?
    Real deal is that this megabuck never gets paid. It floats and grows. The bill never comes due.
    Bob

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  17. #352
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    Quote Originally Posted by CarbideBob View Post
    If you played the game, maxed out $100,000 on all the credit cards you could and put that money into APPL and TSLA one year ago how would you be sitting on for cash if you sold tomorrow?
    Certainly I would not advise this but you would have a very big pile of money.

    If the national debt runs how does that affect the balance in my checking account or money passed onto the next generations?
    Real deal is that this megabuck never gets paid. It floats and grows. The bill never comes due.
    Bob
    Was nearly paid off during Bill Clinton's presidency.

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    Quote Originally Posted by jim rozen View Post
    Was nearly paid off during Bill Clinton's presidency.
    Not even close. They play games with what gets counted as a deficit, but the actual debt has gone up every year since 1957. Yes, it went up slower under Clinton. But it never went down. And there certainly wasn't any danger of it getting paid off. The last time a single penny of the debt was paid down was when Eisenhower was in office.

    US National Debt by Year – Polidiotic

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    The last time a single penny of the debt was paid down was when Eisenhower was in office.
    Those meddling facts..........

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    Quote Originally Posted by CarbideBob View Post
    The bill never comes due.
    Until it does Has there ever been a Ponzi scheme that did not collapse ?

    Try this - refinance your house for $100,000. Then next year for $125,000. The year after for $150,000 ... and so on and so on.

    That works as long as there are people willing to loan you the money, and you can make the payments. But when that dries up, uh-oh. Big uh-oh.

    Remember, Rome ruled the world for hundreds of year. Being top dog tomorrow is not a given, just because you were yesterday.

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    "The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit. In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. Deficit spending is simply a scheme for the hidden confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard." Alan Greenspan

    No doubt in his pre Fed Chair/pre-bubble days.

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    Quote Originally Posted by CarbideBob View Post
    If you played the game, maxed out $100,000 on all the credit cards you could and put that money into APPL and TSLA one year ago how would you be sitting on for cash if you sold tomorrow?
    Certainly I would not advise this but you would have a very big pile of money. . . . .Bob
    Actually, that is how many of the finance/hedge/real estate,/private equity folks have made their millions to billions. Usually with even riskier investments than Apple or Tesla and rather than patiently investing, going short or long, creating money through the miracle of leveraged lending, etc..

    Difference is that if you or I max out our credit cards and guess wrong, we're bankrupt and pretty much screwed. For most of us if we had $100,000 of guess money it goes into a home, pays for illness, maybe gets the kids part way through college.

    Note also that we're not adding much real value even if we happen to guess right in the highly leveraged versions of investment; any more than any other gambler. Fair enough that creating real value for customers, citizens etc. is a quaint notion in this age of reality and fantasy TV - but it was what actually made this nation great (and still does, for those still building, creating, inventing, making . . .Musk gets at least some credit for that)

    If someone either too big to fail or with politicians in their pocket maxes out their "credit cards" (as in 2007 and they're at it again), then you and I pick up that bill as well. Whether its a new stadium, a casino gone bankrupt, a plant that moves to China, bullshit mortgage-based derivatives, companies gutted and pensions trashed, etc.

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    Thats the thing with economics, theres always a number to suit your bias.

    The current system is 'Debt based Fiat', quite possibly the worst deal for the great unwashed. Under this system theres no paying down the National Debt without destroying the money supply. No debt = no money.

    Richard Werner does a great job of explaining how money is created by banks from nothing free of any fractional reserve, as important he also shows how this new money can be allocated and the consequences it can bring.


    Without the impenetrable bs your average econmerchantist throws about its pretty simple stuff for the most part. The biggest barrier to gaining some understanding is our own present beliefs.

    Happy learnings
    D

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    I like his conclusion, that the federal debt is only ! 64% of gdp. That's certainly reassuring !

    Is this the same as making $100,000 a year, so you borrow an additional $64,000 so you can live really high on the hog ?

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    Just remember who eliminated the gold standard.. Nixon. W/out congressional approval. W/out a law change.. Now they print money and that is another way they tax us.

    The politicians are so corrupt, they can't see the forest for the trees.


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