Capco Posted May 25, 2021 Posted May 25, 2021 15 hours ago, sherpa said: Been to China recently? Don't try to buy dinner with yen. I always get those mixed up lmao. Yuan, not Yen.
Buffarukus Posted May 27, 2021 Posted May 27, 2021 (edited) On 5/24/2021 at 8:25 PM, Capco said: The United States happens to be in a very unique position in the world with respect to currency. The US Dollar is the reserve currency of the world. What that effectively means is that there will always be an inordinate amount of demand for the greenback. Any time a foreign currency transaction occurs it can be thought of as one party buying the other party's money with their own money. One reason inflation is never a very big problem in the US is because of this demand for dollars. Look at the rates of inflation by year over the last 20 years; inflation has not gone anywhere close to out of control despite a massive expansion of the money supply. We'd be stupid not to use this unique position to our advantage. It's also one of the main reasons why China manipulates their own currency. They want the Yen Yuan to challenge the dollar as a reserve currency, if not globally then at least regionally. That doesn't mean that fiscal responsibility is a non-issue. It is, but inflation is rarely a fiscal issue in modern times. Economists have so much better of an understanding now than they did preceding the Great Depression (an event which was actually made worse by deflationary policies made in response). Controlled inflation (i.e. what we have had now for a while) is actually good for the economy. In modern times, under Donkey presidents, deficits shrink; under GOP presidents, deficits grow. Both parties are big spenders, but the Dems are also big taxers, especially on the wealthy. It's interesting how much supposed deference the right gives to the Founding Fathers and Enlightenment philosophes in this respect when they were so obviously against the idea of a class of wealthy families in perpetuity. In fact, some like Jefferson even advocated for an estate tax far more aggressive than what we have now. “What is most important for democracy is not that great fortunes should not exist, but that great fortunes should not remain in the same hands. In that way there are rich [persons], but they do not form a class.” -Alexis de Tocqueville hey there i finally got a bit of time. first im not a economist as it is a very complex system but ill give my thoughts. it seems that you make a argument and then give your own counter point. you say we are the source for the worlds currency and that is a unique position. you then go on to say china is challenging this position, and one would be foolish to think they arent gaining major ground. this unique position is not some god given thing that america can and will always hold. just as quickly as the destruction of europe and industrialization gave it to us it can be lost relatively quickly. printing money at a alarming rate just excellerates a decline as basic supply and demand results in devaluation. history is full of countries where they seemed to be in very good economic positions only to have their comfortability pulled from under them, as they use their currency as kindling because fire became more valuable to ones survival. the fact you trust the "official" inflation rates is not a good gauge. everyone knows the fed ARTIFICIALLY keeps it low, as raising it would put a grinding halt to flow. acquiring loans is the life blood of the economy. ask a new home owner who has seen the price of wood skyrocket and can no longer finish. a low income family who has to pay for higher gas and food bills. the list is growing and inflation is hitting people hard yet "utilizing this unique position" seems to not be executed with extreme caution. a global pandemic and countries that put the brakes on their economies is also a unique position. one the world has not seen in the same time frame you speak of. so we should not use the past for accuracy on effects and outcomes. i realize the inflation hitting certain segments is caused by a myriad but spending..sorry BORROWING, TRILLIONS of more dollars before you have even seen the full effects and have yet to recover is beyond foolish. especially for things that are not guaranteed to promote economic growth/ recovery. let the vaccines work, examine the devastation closely and make transparent, targeted bills to get us back on track and we can then discuss huge " i think this will help but who really knows" partisan spending policies riddled with earmarks. as for us being so much more educated today. i think your severely overestimating. for instance, a long time trump hater and liberal supporter john oliver..who is selling "huge budget bills are ok" in his vid, because thats what biden is pushing, even has to admit that our top economists do not truley understand the tipping point at which hyperinflation would destroy our currency, but lets continue to push bills that tilt us towards this outcome. if, god forbid, it hits. theres no coming back. i dont assume it has been a concern by either side for a very long time. they are both guilty and probably will continue until collapse but [tax the rich] is not some magic that will fix the problems alone, the rich do not just sit back and give away their wealth. they move to more profitable countries and workforces...back to that whole china problem and what can excellerate it. the poorest person here lives a life those in truley economic devastated countries could only dream. ask the southern boarder. everything has a cost and free money costs us the value of earned. there is no easy fix as, like i said, its complex. i just dont think its wise addressing it by borrowing on unheard of scales ends well. it is playing with with very dangerous fire that can consume EVERYONE. good things never end, until it does. we should stop acting like it cant happen. we have cities like detroit that show how fragile our own micro boom to bust economies can be. sorry for the rant or if youve discussed these things already in the thread. just my 2 cents/ metal antiques that used to be worth something 😉 Edited May 28, 2021 by Buffarukus 1 1
BillStime Posted June 23, 2021 Posted June 23, 2021 Does that mean they’re outlawing condoms too or just any birth control that has to do with women controlling their own bodies?
JaCrispy Posted June 24, 2021 Posted June 24, 2021 On 5/30/2021 at 1:34 PM, BillStime said: Reagan and JFK...2 of my favorite presidents...👍
BillStime Posted June 28, 2021 Posted June 28, 2021 When fascism comes to America - it will Be wrapped in the Flag
BillStime Posted June 28, 2021 Posted June 28, 2021 Just now, Governor said: Anti-police and military. and ANTI AMERICA!!!!!! Trump called former attorney general Bill Barr and Senate Minority Leader Mitch McConnell “spineless RINOs” (Republicans in Name Only) after Barr told The Atlantic that Trump’s constant claims of election fraud were “bull####.” Barr also told the magazine that McConnell urged him to “inject some reality” into Trump as he repeated debunked claims of election fraud and baseless conspiracy theories last winter. ‘Utterly Deranged’ Trump Has Full Meltdown Over Bill Barr, Mitch McConnell Trump Supporters --> AINO—Americans In Name Only 1
Unforgiven Posted July 3, 2021 Posted July 3, 2021 (edited) .....the steel will to wreck leftists, America's greatest threat ever. Starting with breaking them mentally which Trump accomplished nicely. Edited July 3, 2021 by Unforgiven
Capco Posted July 3, 2021 Posted July 3, 2021 On 7/2/2021 at 12:16 PM, BillStime said: I find it interesting that roughly the same policy could have been delivered (and hence received) in a much better way. For example: "Homelessness is a huge problem in California and we need to come together to find a solution. As governor, I would propose setting up designated facilities where the homeless can not only have access to basic necessities, but where employers can also find potential labor. I believe such a program would revitalize areas like Venice Beach and help local small businesses thrive. The tax revenue from increased tourism and commerce will help offset the initial costs of the project, and hopefully the career services provided will make an additional impact on the bottom line by decreasing the resources required and enlarging the tax base." 1
BillStime Posted July 3, 2021 Posted July 3, 2021 (edited) 2 hours ago, Capco said: I find it interesting that roughly the same policy could have been delivered (and hence received) in a much better way. For example: "Homelessness is a huge problem in California and we need to come together to find a solution. As governor, I would propose setting up designated facilities where the homeless can not only have access to basic necessities, but where employers can also find potential labor. I believe such a program would revitalize areas like Venice Beach and help local small businesses thrive. The tax revenue from increased tourism and commerce will help offset the initial costs of the project, and hopefully the career services provided will make an additional impact on the bottom line by decreasing the resources required and enlarging the tax base." Agreed but that approach doesn't appeal to the Trump base. Edited July 3, 2021 by BillStime
Unforgiven Posted July 3, 2021 Posted July 3, 2021 1 hour ago, BillStime said: Agreed but that approach doesn't appear to the Trump base. It appears the approach doesn't appear to the democrat base either... how long has governor hairdo been there...not very bright are you
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