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Author Topic:   The Changing World Order
Theodoric
Member
Posts: 9197
From: Northwest, WI, USA
Joined: 08-15-2005
Member Rating: 3.2


(2)
Message 2 of 302 (902544)
11-25-2022 10:33 AM
Reply to: Message 1 by Phat
11-25-2022 12:30 AM


Phat's adoration of the wealthy continues
He is a billionaire hedge fund manager. The stock market is not the economy. He is no economist. Success in the stock market does not mean any knowledge or expertise in the economy as a whole.
But seems right up your alley. More bullshit from a narcissistic billionaire.
quote:
Four years ago, Ray Dalio threw at us a great big book of windy wisdom called “Principles.” He defined the title word as “fundamental truths that serve as the foundations for behavior that gets you what you want out of life,” a definition that seemed to promise a great deal, given that the author was the founder of Bridgewater Associates, the planet’s biggest hedge fund. The book was a treatise on the means to a successful life, written by a man so accustomed to being “admired and, above all, consulted” (to cite Zola on a character from his novel “Money”) that Mr. Dalio was apparently unfazed by his lack of expertise in ethics or philosophy. Faintly absurd was the fact that “Principles” doesn’t contain a single name in its index. Given its title, you’d have expected, at least, Aristotle, the Buddha, Christ or Spinoza.
In any case, “Principles” was a resounding hit—Amazon’s No. 1 business book for 2017, prompting Mr. Dalio to produce “Principles for Navigating Big Debt Crises” a year later. Now, with “Principles for Dealing With the Changing World Order,” he completes his trilogy of omniscience, putting forward sweeping explanations for why some nations succeed and others fail. Again he appears to dangle before the reader the promise of self-improvement, even financial gain. His purpose in writing a book about geopolitics, he says, “is to pass along what I learned that has helped me and that I believe might help you.”
“The Changing World Order” contains some valuable insights, but these are offered alongside numerous instances of triteness and truism, not to mention a more than occasional whiff of Chauncey Gardiner, the character in the film “Being There” whose humdrum utterances are mistaken for sapience. The book kicks off with the assertion that “the times ahead will be radically different from those we’ve experienced in our lifetimes, though similar to many times in history.” (I ran this fluffy line by a college student in my household. “Safe bet” was his response.) Later Mr. Dalio tells us of “the two things about war” about which we can be most confident: “1) that it won’t go as planned and 2) that it will be far worse than imagined.” Such vapidities turn up every fifth page or so, none more worthy of what millennials call a face-palm than his telling us that populists “are much more extreme than moderates” or that countries “hadn’t been invented yet” in the year 1500. (“Instead there were big family estates called kingdoms.”)
Mr. Dalio’s doctrine is that history is cyclical, a “perpetual-motion machine.” Great nations experience Big Cycles that swing between “peaceful and prosperous periods of great creativity and productivity” and “depression, revolution, and war periods when there is a lot of fighting over wealth and power and a lot of destruction.” He identifies three cycle-types as key: the cycle of good and bad finances; the cycle of order and disorder within a country; and the cycle of external order and disorder. Periods of “boom and bust and peace and war,” Mr. Dalio writes, are “like the tide coming in and out.” You can’t help thinking that there’s a certain fatalism in his belief in the ineluctable “cycles” of history...
So, do you really need to fetishize history in order to be a successful investor? Surely not, judging by the great amounts of wealth that have been made by moneymen with a less Daliolithic outlook. With his overdrawn generalizations and all-encompassing abstractions, Mr. Dalio strains much too hard to persuade us that he’s not just a wildly successful businessman. He craves recognition as a polymath who has constructed a model for how the world works and as an all-American Renaissance man in the age of Xi Jinping.
Read the whole thing. Really shows what a vapid ass Dalio is.
‘Principles for Dealing With the Changing World Order’ Review: Trouble Ahead, As Usual - WSJ

What can be asserted without evidence can also be dismissed without evidence. -Christopher Hitchens

Facts don't lie or have an agenda. Facts are just facts

"God did it" is not an argument. It is an excuse for intellectual laziness.

If your viewpoint has merits and facts to back it up why would you have to lie?


This message is a reply to:
 Message 1 by Phat, posted 11-25-2022 12:30 AM Phat has replied

Replies to this message:
 Message 4 by Phat, posted 11-25-2022 3:08 PM Theodoric has replied
 Message 6 by Phat, posted 11-25-2022 3:18 PM Theodoric has replied

  
Theodoric
Member
Posts: 9197
From: Northwest, WI, USA
Joined: 08-15-2005
Member Rating: 3.2


Message 7 of 302 (902619)
11-25-2022 4:18 PM
Reply to: Message 4 by Phat
11-25-2022 3:08 PM


Re: Phat's adoration of the wealthy continues
You understand nothing about economics and monetary theory. The dollar has replaced gold. Gold is pegged to the dollar not the other way around.
Where does he state the dollar will tank? and please show us the numerous times it has in history.

What can be asserted without evidence can also be dismissed without evidence. -Christopher Hitchens

Facts don't lie or have an agenda. Facts are just facts

"God did it" is not an argument. It is an excuse for intellectual laziness.

If your viewpoint has merits and facts to back it up why would you have to lie?


This message is a reply to:
 Message 4 by Phat, posted 11-25-2022 3:08 PM Phat has replied

Replies to this message:
 Message 12 by Phat, posted 11-26-2022 2:54 AM Theodoric has replied
 Message 50 by Phat, posted 11-28-2022 11:44 AM Theodoric has replied

  
Theodoric
Member
Posts: 9197
From: Northwest, WI, USA
Joined: 08-15-2005
Member Rating: 3.2


(1)
Message 8 of 302 (902620)
11-25-2022 4:21 PM
Reply to: Message 6 by Phat
11-25-2022 3:18 PM


Re: Phat's adoration of the wealthy continues
Robert Reich, Paul Krugman. The fedboard are not liberals. They also seem to be threading a good course right now. Unemployment is low and inflation seems to be tamed.

What can be asserted without evidence can also be dismissed without evidence. -Christopher Hitchens

Facts don't lie or have an agenda. Facts are just facts

"God did it" is not an argument. It is an excuse for intellectual laziness.

If your viewpoint has merits and facts to back it up why would you have to lie?


This message is a reply to:
 Message 6 by Phat, posted 11-25-2022 3:18 PM Phat has replied

Replies to this message:
 Message 9 by Tanypteryx, posted 11-25-2022 6:37 PM Theodoric has replied
 Message 20 by Phat, posted 11-26-2022 3:18 PM Theodoric has replied

  
Theodoric
Member
Posts: 9197
From: Northwest, WI, USA
Joined: 08-15-2005
Member Rating: 3.2


(1)
Message 10 of 302 (902642)
11-25-2022 11:10 PM
Reply to: Message 9 by Tanypteryx
11-25-2022 6:37 PM


Re: Phat's adoration of the wealthy continues
He thinks these wealthy shelysters are giving him good advice, because it is a youtube video. He refuses to understand that gold has no intrinsic value and is a horrendous investment vehicle. He touted crypto as a way to keep the govt from taxing.
Billionaires pay next to noting in income tax, but the poor, handicapped and mentally ill are the problem in his view. He truly shows the Christian right mindset. He buys into what I call the right wing pecking order view of society. To them ones value is based upon abusing those below you on the wingnut socioeconomic scale. Fuck you, I got mine.
Nice christian values they have. Phat and they are proud of those values. As a US citizen and as a human being he disgusts me.

What can be asserted without evidence can also be dismissed without evidence. -Christopher Hitchens

Facts don't lie or have an agenda. Facts are just facts

"God did it" is not an argument. It is an excuse for intellectual laziness.

If your viewpoint has merits and facts to back it up why would you have to lie?


This message is a reply to:
 Message 9 by Tanypteryx, posted 11-25-2022 6:37 PM Tanypteryx has replied

Replies to this message:
 Message 11 by Tanypteryx, posted 11-25-2022 11:16 PM Theodoric has not replied

  
Theodoric
Member
Posts: 9197
From: Northwest, WI, USA
Joined: 08-15-2005
Member Rating: 3.2


(1)
Message 15 of 302 (902662)
11-26-2022 11:21 AM
Reply to: Message 12 by Phat
11-26-2022 2:54 AM


Re: Phat's adoration of the wealthy continues
50% of your net worth will likely get wiped out within 2 years.
So you and the rest of the gold bugs know more than every reputable economist, bank and financial firm? That the Dems held back the MAGAt insurgency will prevent any instability that might have caused that. Again and as always you provide no facts or evidence to back your crazy wild ass assertions.
Pegged was the wrong term I meant valued. Goods and services are not priced by gold, they are priced in dollars and other fiat currencies. That includes gold which is merely a commodity, not a currency. Commodities are a terrible thing to base an economy on as they are subject to speculation and manipulation. See Hunt brothers and silver.
Gold has no intrinsic value. Its value is based upon a belief of value. It has very little actual use.
You stated earlier that
Unlike you, Dalio knows that the dollar will tank. It will be a hard lesson for many, but it has in fact happened many times in History.
Still no answer to this
Where did Dalio say this and when has this happened? Were you lying again?
Each Empire (Dutch, British, and American) has at one time had the dominant global reserve currency. The Dutch Guilder crashed when the empire did.
Did what?
The guilder was not on the gold standard until 1873. Any collapse of the guilder in history is directly tied to the loss of status as a world empire or due to wars(Napoleanic). The guilder was a not a fiat currency it was always pegged to silver or gold until 1936 and it remained stable until the Euro changeover.
The British Pound also tanked at the end of WW II when Britain could not pay its debts.
They just finished a world war. Irrelevant unless you can actually make an argument tying the result to fiat currency.
A similar fate awaits the Dollar, although the government is trying to keep the Dollar club afloat globally. It is at its high right now, coincidentally as war is being waged in Ukraine.
Please show any evidence for any of this.
You of course won't believe that the almighty dollar can crash, but we have inflated it and debased it for far too long.
Please show any evidence for any of this.
What backs the Dollar, apart from the faith of the people?
Complete faith and credit of the United States of America. Much more stable than a commodity subject to market manipulation.
Never in History has a currency in a declining empire lasted very long. The Dollar, like the secular humanist idea of authority, is but a puff of smoke and vapor.
Irrelevant, but nice to see your anti-USA fervor. I notice the currencies of Theocracies suck. Go you.

What can be asserted without evidence can also be dismissed without evidence. -Christopher Hitchens

Facts don't lie or have an agenda. Facts are just facts

"God did it" is not an argument. It is an excuse for intellectual laziness.

If your viewpoint has merits and facts to back it up why would you have to lie?


This message is a reply to:
 Message 12 by Phat, posted 11-26-2022 2:54 AM Phat has not replied

  
Theodoric
Member
Posts: 9197
From: Northwest, WI, USA
Joined: 08-15-2005
Member Rating: 3.2


Message 16 of 302 (902663)
11-26-2022 11:23 AM
Reply to: Message 14 by ringo
11-26-2022 11:11 AM


Re: Phat's adoration of the wealthy continues
We should float boats on something better than water. Water is not stable.

What can be asserted without evidence can also be dismissed without evidence. -Christopher Hitchens

Facts don't lie or have an agenda. Facts are just facts

"God did it" is not an argument. It is an excuse for intellectual laziness.

If your viewpoint has merits and facts to back it up why would you have to lie?


This message is a reply to:
 Message 14 by ringo, posted 11-26-2022 11:11 AM ringo has replied

Replies to this message:
 Message 17 by ringo, posted 11-26-2022 11:32 AM Theodoric has not replied

  
Theodoric
Member
Posts: 9197
From: Northwest, WI, USA
Joined: 08-15-2005
Member Rating: 3.2


Message 21 of 302 (902686)
11-26-2022 5:34 PM
Reply to: Message 19 by Phat
11-26-2022 3:02 PM


Re: Phat Chance he knows anything!
You may read a lot but you seemingly understand little

What can be asserted without evidence can also be dismissed without evidence. -Christopher Hitchens

Facts don't lie or have an agenda. Facts are just facts

"God did it" is not an argument. It is an excuse for intellectual laziness.

If your viewpoint has merits and facts to back it up why would you have to lie?


This message is a reply to:
 Message 19 by Phat, posted 11-26-2022 3:02 PM Phat has seen this message but not replied

  
Theodoric
Member
Posts: 9197
From: Northwest, WI, USA
Joined: 08-15-2005
Member Rating: 3.2


(2)
Message 22 of 302 (902687)
11-26-2022 5:36 PM
Reply to: Message 20 by Phat
11-26-2022 3:18 PM


Re: Phat's adoration of the wealthy continues
Reich is a leftist, progressive and liberal as are all pro-unionist. You are just pro your union. Fuck everyone else. You got yours.

What can be asserted without evidence can also be dismissed without evidence. -Christopher Hitchens

Facts don't lie or have an agenda. Facts are just facts

"God did it" is not an argument. It is an excuse for intellectual laziness.

If your viewpoint has merits and facts to back it up why would you have to lie?


This message is a reply to:
 Message 20 by Phat, posted 11-26-2022 3:18 PM Phat has replied

Replies to this message:
 Message 26 by Phat, posted 11-27-2022 1:10 AM Theodoric has replied

  
Theodoric
Member
Posts: 9197
From: Northwest, WI, USA
Joined: 08-15-2005
Member Rating: 3.2


Message 24 of 302 (902693)
11-26-2022 6:53 PM
Reply to: Message 23 by Tangle
11-26-2022 6:18 PM


Re: Phat Chance he knows anything!
I want to know about his gold. Did he buy actual gold or gold funds? If actual gold does he have it or is he paying to have it stored?

What can be asserted without evidence can also be dismissed without evidence. -Christopher Hitchens

Facts don't lie or have an agenda. Facts are just facts

"God did it" is not an argument. It is an excuse for intellectual laziness.

If your viewpoint has merits and facts to back it up why would you have to lie?


This message is a reply to:
 Message 23 by Tangle, posted 11-26-2022 6:18 PM Tangle has not replied

  
Theodoric
Member
Posts: 9197
From: Northwest, WI, USA
Joined: 08-15-2005
Member Rating: 3.2


(1)
Message 27 of 302 (902726)
11-27-2022 10:43 AM
Reply to: Message 26 by Phat
11-27-2022 1:10 AM


Re: Phat's adoration of the wealthy continues
I don't know where you ever got the idea that I don't care about anyone else,
Are you that so unself-aware or are you lying now? You have multitudes of posts attacking the poor. All you care about is protecting your tiny little slice. Fuck those lower on the ladder.

What can be asserted without evidence can also be dismissed without evidence. -Christopher Hitchens

Facts don't lie or have an agenda. Facts are just facts

"God did it" is not an argument. It is an excuse for intellectual laziness.

If your viewpoint has merits and facts to back it up why would you have to lie?


This message is a reply to:
 Message 26 by Phat, posted 11-27-2022 1:10 AM Phat has replied

Replies to this message:
 Message 28 by Phat, posted 11-27-2022 11:09 AM Theodoric has replied

  
Theodoric
Member
Posts: 9197
From: Northwest, WI, USA
Joined: 08-15-2005
Member Rating: 3.2


(1)
Message 29 of 302 (902739)
11-27-2022 11:28 AM
Reply to: Message 28 by Phat
11-27-2022 11:09 AM


Re: Phat's adoration of the wealthy continues
That's your assumption and conclusion.
No, I have watched your posts for years you regularly attack the poor and praise the rich. Fact, not an assumption.
The argument, primarily directed at ringo, is that a government has no right to utilize everyone's money in any emergency except what they legally collect in taxes.
This argument truly has always astounded me. Tell me how they are going to get more of your money. The government is funded by taxes. How else should they be funded?
and the ideal that nobody should be required to become a victim of a digital currency system that, in a crisis, could institute a bail-in to save a population or a bank.
What digital currency? Do you think we should all walk around with slivers of silver and gold? Do you understand what a bail-in is? Why should investors' money always be protected?
but my point is that the system is now being set up so that in a crisis
Again you assert with no evidence. Provide evidence about this "system".

What can be asserted without evidence can also be dismissed without evidence. -Christopher Hitchens

Facts don't lie or have an agenda. Facts are just facts

"God did it" is not an argument. It is an excuse for intellectual laziness.

If your viewpoint has merits and facts to back it up why would you have to lie?


This message is a reply to:
 Message 28 by Phat, posted 11-27-2022 11:09 AM Phat has not replied

  
Theodoric
Member
Posts: 9197
From: Northwest, WI, USA
Joined: 08-15-2005
Member Rating: 3.2


(5)
Message 34 of 302 (902794)
11-27-2022 4:17 PM
Reply to: Message 33 by Phat
11-27-2022 3:34 PM


Re: Phat's adoration of the wealthy continues
You are evil and vile. Why do you assume that you would not be one of the starving people? If the economy were that bad taxes would be one of the least of anyone's worries.
Feeding them is up to me...not to a kum ba yah government.
No, it is up to the government. The government is not instituted to protect the wealth of individuals, it is instituted for the good of the whole. Feeding the starving is good for society.

What can be asserted without evidence can also be dismissed without evidence. -Christopher Hitchens

Facts don't lie or have an agenda. Facts are just facts

"God did it" is not an argument. It is an excuse for intellectual laziness.

If your viewpoint has merits and facts to back it up why would you have to lie?


This message is a reply to:
 Message 33 by Phat, posted 11-27-2022 3:34 PM Phat has not replied

  
Theodoric
Member
Posts: 9197
From: Northwest, WI, USA
Joined: 08-15-2005
Member Rating: 3.2


Message 36 of 302 (902820)
11-27-2022 7:14 PM
Reply to: Message 35 by DrJones*
11-27-2022 4:53 PM


Re: Phat's adoration of the wealthy continues
Because we have to protect rich people's money? That is what Phat wants.

What can be asserted without evidence can also be dismissed without evidence. -Christopher Hitchens

Facts don't lie or have an agenda. Facts are just facts

"God did it" is not an argument. It is an excuse for intellectual laziness.

If your viewpoint has merits and facts to back it up why would you have to lie?


This message is a reply to:
 Message 35 by DrJones*, posted 11-27-2022 4:53 PM DrJones* has not replied

Replies to this message:
 Message 39 by Phat, posted 11-27-2022 8:49 PM Theodoric has replied

  
Theodoric
Member
Posts: 9197
From: Northwest, WI, USA
Joined: 08-15-2005
Member Rating: 3.2


Message 37 of 302 (902821)
11-27-2022 7:14 PM
Reply to: Message 33 by Phat
11-27-2022 3:34 PM


Re: Phat's adoration of the wealthy continues
Do you own gold?

What can be asserted without evidence can also be dismissed without evidence. -Christopher Hitchens

Facts don't lie or have an agenda. Facts are just facts

"God did it" is not an argument. It is an excuse for intellectual laziness.

If your viewpoint has merits and facts to back it up why would you have to lie?


This message is a reply to:
 Message 33 by Phat, posted 11-27-2022 3:34 PM Phat has replied

Replies to this message:
 Message 38 by Phat, posted 11-27-2022 8:43 PM Theodoric has replied

  
Theodoric
Member
Posts: 9197
From: Northwest, WI, USA
Joined: 08-15-2005
Member Rating: 3.2


(1)
Message 40 of 302 (902847)
11-27-2022 9:59 PM
Reply to: Message 39 by Phat
11-27-2022 8:49 PM


Re: capital gains
One can legally avoid capital gains if they sell small amounts of commodities at a time.
Depends on so many variables that what you are saying is silly. Do you have commodities you trade? Do you understand what capital gains are?
Bidens push for digital currency may mean that even small transactions can be tracked.
WTF? Please send me the source for this. I think you may be misunderstanding something. His EO was to start exploring the possibilities and what they would mean. There is by no means a push. Do you think the government should put its head in the sand and pretend that this is not an issue that they should know and prepare for?
So far the tX liability still won't affect smaller transactions. I believe the threshold is $3000.00.
Whwn was the last time you sold stocks, bonds or commodities?

What can be asserted without evidence can also be dismissed without evidence. -Christopher Hitchens

Facts don't lie or have an agenda. Facts are just facts

"God did it" is not an argument. It is an excuse for intellectual laziness.

If your viewpoint has merits and facts to back it up why would you have to lie?


This message is a reply to:
 Message 39 by Phat, posted 11-27-2022 8:49 PM Phat has replied

Replies to this message:
 Message 46 by Phat, posted 11-28-2022 11:24 AM Theodoric has replied

  
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