Stimulus Bill2
#71
Gets Weekends Off
Joined APC: May 2012
Posts: 1,418
#72
Gets Weekends Off
Joined APC: Jan 2014
Posts: 1,887
George Will says Ursula is correct. https://www.washingtonpost.com/opini...025_story.html
#73
When I was working on my MBA, one of my professors had a phenomenal line. We were talking about the art of the Ponzi scheme, he stated, “You can’t taper a Ponzi scheme, there’s no way out once it’s been established”.
I would highly recommend this read. This was published by arguably the top business school in the United States. If you don’t expect to die in the next 10 years, you should be extremely worried.
https://review.chicagobooth.edu/economics/2020/article/debt-still-matters
“Everyone recognizes that there is a debt-to-GDP ratio limit out there somewhere. It is not a hard and fast limit. Bondholder patience combines government debt, other opportunities, and bondholders’ view of the government’s political stability and willingness to pay back debt. What is clear is that finding the limit will be unpleasant, involving essentially a sovereign debt crisis, a sharp inflation, devaluation, and financial catastrophe.”
This read I will add for the conspiracy aspect.
https://www.zerohedge.com/markets/china-de-risk-both-monetary-and-fiscal-policy-2021-socgen
Virus out of China cripples global economy. Entire world prints their way to oblivion. China then says it'll "de-risk" monetary policy into 2021. Dollar getting smacked against (soon to be digital) Yuan. If we can't see what's happening now we never will.
Last edited by Finessed; 01-04-2021 at 10:14 PM.
#74
#76
Fine. Here’s my counter-argument...
Money isn’t real anymore. Nobody is going to come collect all this ridiculous debt. There will be ups and downs and mistakes and saviors and we’ll all just adjust. I’m content just making sure my investments beat out inflation, I watch my spending, I work hard, and I don’t let selfishness get in the way of being a good husband to a loving wife and family.
I don’t have any problem with folks that enjoy studying history and finance and the economy...but I get a little peeved when they make statements about doom and gloom when there are infinite variables to consider when predicting our future.
Money isn’t real anymore. Nobody is going to come collect all this ridiculous debt. There will be ups and downs and mistakes and saviors and we’ll all just adjust. I’m content just making sure my investments beat out inflation, I watch my spending, I work hard, and I don’t let selfishness get in the way of being a good husband to a loving wife and family.
I don’t have any problem with folks that enjoy studying history and finance and the economy...but I get a little peeved when they make statements about doom and gloom when there are infinite variables to consider when predicting our future.
#77
Nah. Brenton Woods (and the IMF) won't be the law of the planet forever.
Crypto currencies are a hedge against the inherent inflation that always dooms fiat currencies.
The bigger they are, the harder they fall. When the US loses global reserve currency status, hyperinflation is going to be LIT.
Crypto currencies are a hedge against the inherent inflation that always dooms fiat currencies.
The bigger they are, the harder they fall. When the US loses global reserve currency status, hyperinflation is going to be LIT.
#78
Nah. Brenton Woods (and the IMF) won't be the law of the planet forever.
Crypto currencies are a hedge against the inherent inflation that always dooms fiat currencies.
The bigger they are, the harder they fall. When the US loses global reserve currency status, hyperinflation is going to be LIT.
Crypto currencies are a hedge against the inherent inflation that always dooms fiat currencies.
The bigger they are, the harder they fall. When the US loses global reserve currency status, hyperinflation is going to be LIT.
As far as reserve currency status goes, that is dependent on the productivity of the US worker and the relative strength of the US military. You are right to be worried. Oddly enough, if the dollar loses strength against other world currencies, it helps our export business. Losing reserve currency status may force the government into more responsible spending. If inflation doubles prices in the next decade, then our current debt load magically shrinks from 100% of GDP down to a more manageable 50%.
#79
Gets Weekends Off
Joined APC: Jan 2011
Position: Wind checker
Posts: 763
Talking to a Brit a few years ago about the debt and deficit. “If I owe you $100, that my problem. If I owe you a trillion dollars, that’s really your problem.”
For those curious about how this works out, take a look at what happened to Japan when Reagan devalued the dollar against the yen. They still haven’t fully recovered. The US will eventually take a crap on the world with the devaluation of the dollar. Sorry to say it means that OLED TVs will not be as cheap. It was a good party though.
For those curious about how this works out, take a look at what happened to Japan when Reagan devalued the dollar against the yen. They still haven’t fully recovered. The US will eventually take a crap on the world with the devaluation of the dollar. Sorry to say it means that OLED TVs will not be as cheap. It was a good party though.
#80
Banned
Joined APC: Sep 2015
Position: 3+ hour sit in the ATL
Posts: 1,982
Bretton Woods has been dead ever since the US left the gold standard in 1971. I agree with your point about Crypto as a hedge against inflation. Keeping a small amount of bitcoin along with gold/silver is part of a sound financial plan. Owning stocks and real estate is also a form of inflation hedging. Doing so with smart leverage actually puts inflation on your side instead of against you.
As far as reserve currency status goes, that is dependent on the productivity of the US worker and the relative strength of the US military. You are right to be worried. Oddly enough, if the dollar loses strength against other world currencies, it helps our export business. Losing reserve currency status may force the government into more responsible spending. If inflation doubles prices in the next decade, then our current debt load magically shrinks from 100% of GDP down to a more manageable 50%.
As far as reserve currency status goes, that is dependent on the productivity of the US worker and the relative strength of the US military. You are right to be worried. Oddly enough, if the dollar loses strength against other world currencies, it helps our export business. Losing reserve currency status may force the government into more responsible spending. If inflation doubles prices in the next decade, then our current debt load magically shrinks from 100% of GDP down to a more manageable 50%.
Hah, I don't think so .
Despite the "system", US will be the big dog on the porch for many decades to come. Unless we go full USSA. Then I agree with your premise.
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