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Author Topic:   The Changing World Order
ringo
Member (Idle past 499 days)
Posts: 20940
From: frozen wasteland
Joined: 03-23-2005


Message 76 of 302 (903122)
12-04-2022 2:46 PM
Reply to: Message 44 by Phat
11-28-2022 11:16 AM


Re: Back On Topic?
Phat writes:
Why don't you define what cheating is?
The "offshore system" that you touted recently is cheating.

Come all of you cowboys all over this land,
I'll teach you the law of the Ranger's Command:
To hold a six shooter, and never to run
As long as there's bullets in both of your guns.
-- Woody Guthrie

This message is a reply to:
 Message 44 by Phat, posted 11-28-2022 11:16 AM Phat has not replied

  
ringo
Member (Idle past 499 days)
Posts: 20940
From: frozen wasteland
Joined: 03-23-2005


Message 77 of 302 (903123)
12-04-2022 2:47 PM
Reply to: Message 46 by Phat
11-28-2022 11:24 AM


Re: Back On Topic...Sort Of...
Phat writes:
It's fair game to discuss digital currency in this thread. Lets talk about that.
I've been trying to. Why don't you respond?

Come all of you cowboys all over this land,
I'll teach you the law of the Ranger's Command:
To hold a six shooter, and never to run
As long as there's bullets in both of your guns.
-- Woody Guthrie

This message is a reply to:
 Message 46 by Phat, posted 11-28-2022 11:24 AM Phat has replied

Replies to this message:
 Message 87 by Phat, posted 12-05-2022 6:27 PM ringo has replied

  
Phat
Member
Posts: 18389
From: Denver,Colorado USA
Joined: 12-30-2003


Message 78 of 302 (903133)
12-04-2022 4:10 PM
Reply to: Message 73 by Taq
11-29-2022 3:02 PM


Re: Back On Topic...Sort Of...
Phat writes:
Does the Federal Reserve know what they are doing any more than does a man such as Ray Dalio?
Taq writes:
Would you be able to determine who is more knowledgeable about the economy?
I finally am reading the book, so we can get it from the horse's mouth.
The peanut gallery may like his dedication (of the book) if nothing else.
He says:
To my grandchilden and those of their generation who will be participants in the continuation of this story: may the Force of Evolution be with you.
In his preface, he lists many people who helped him with the book, only the first name of which I know of: [quote][i]I am especially grateful to Henry Kissinger, Wang Qishan, Graham Allison, Lee Kuan Yew, Liu He, Paul Volcker (I know that name too), Mario Draghi, Paul Kennedy,Richard N.Haass, Kevin Rudd,Steven Kryger,Niall Ferguson,H.R.McMaster,(whom I think was a retired General) and the list goes on.
Theodoric writes:
Dalio is a rich guy that has no expertise in what he is writing about trying to turn pithy phrases stock comments into some sort of new age tech homespun wisdom.
Ray Dalio founded the largest Hedge Fund in the world.( Bridgewater Associates.)

The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of a doubt, what is laid before him.” - Leo Tolstoy, The Kingdom of God is Within You (1894).
When both religious and non-religious people reach the same conclusions then you know religion isn't the reason.--Percy
Nor are Democrats the best party or the only one we should have. -Phat,2022 addressing The Peanut Gallery.

This message is a reply to:
 Message 73 by Taq, posted 11-29-2022 3:02 PM Taq has not replied

Replies to this message:
 Message 79 by Theodoric, posted 12-04-2022 6:14 PM Phat has replied

  
Theodoric
Member
Posts: 9283
From: Northwest, WI, USA
Joined: 08-15-2005
Member Rating: 2.1


Message 79 of 302 (903136)
12-04-2022 6:14 PM
Reply to: Message 78 by Phat
12-04-2022 4:10 PM


Re: Back On Topic...Sort Of...
Does not make him smart or an economist. Good chance it makes him an amoral asshole.

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 78 by Phat, posted 12-04-2022 4:10 PM Phat has replied

Replies to this message:
 Message 80 by Phat, posted 12-05-2022 9:59 AM Theodoric has replied

  
Phat
Member
Posts: 18389
From: Denver,Colorado USA
Joined: 12-30-2003


Message 80 of 302 (903148)
12-05-2022 9:59 AM
Reply to: Message 79 by Theodoric
12-04-2022 6:14 PM


Re: Back On Topic...Sort Of...
Chance does not exist. He either is or is not an "asshole" not based on his party affiliation or his wealth but on his observable performance. And since your Left leaning ego refuses to watch it, you are in fact clueless.

The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of a doubt, what is laid before him.” - Leo Tolstoy, The Kingdom of God is Within You (1894).
When both religious and non-religious people reach the same conclusions then you know religion isn't the reason.--Percy
Nor are Democrats the best party or the only one we should have. -Phat,2022 addressing The Peanut Gallery.

This message is a reply to:
 Message 79 by Theodoric, posted 12-04-2022 6:14 PM Theodoric has replied

Replies to this message:
 Message 81 by Theodoric, posted 12-05-2022 10:29 AM Phat has replied
 Message 83 by ringo, posted 12-05-2022 12:15 PM Phat has not replied

  
Theodoric
Member
Posts: 9283
From: Northwest, WI, USA
Joined: 08-15-2005
Member Rating: 2.1


Message 81 of 302 (903149)
12-05-2022 10:29 AM
Reply to: Message 80 by Phat
12-05-2022 9:59 AM


Re: Back On Topic...Sort Of...
Watched it. It is pure bullshit to wow the rubes.

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 80 by Phat, posted 12-05-2022 9:59 AM Phat has replied

Replies to this message:
 Message 82 by Phat, posted 12-05-2022 10:35 AM Theodoric has replied

  
Phat
Member
Posts: 18389
From: Denver,Colorado USA
Joined: 12-30-2003


Message 82 of 302 (903150)
12-05-2022 10:35 AM
Reply to: Message 81 by Theodoric
12-05-2022 10:29 AM


Re: Back On Topic...Sort Of...
I doubt you watched it. You have preconceived idea and ideologies anyway.
And I expect that the hedge fund he founded is more successful than any of the financial advisors you have. I could be wrong, however.

The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of a doubt, what is laid before him.” - Leo Tolstoy, The Kingdom of God is Within You (1894).
When both religious and non-religious people reach the same conclusions then you know religion isn't the reason.--Percy
Nor are Democrats the best party or the only one we should have. -Phat,2022 addressing The Peanut Gallery.

This message is a reply to:
 Message 81 by Theodoric, posted 12-05-2022 10:29 AM Theodoric has replied

Replies to this message:
 Message 85 by Theodoric, posted 12-05-2022 1:41 PM Phat has not replied

  
ringo
Member (Idle past 499 days)
Posts: 20940
From: frozen wasteland
Joined: 03-23-2005


Message 83 of 302 (903161)
12-05-2022 12:15 PM
Reply to: Message 80 by Phat
12-05-2022 9:59 AM


Re: Back On Topic...Sort Of...
Phat writes:
He either is or is not an "asshole" not based on his party affiliation or his wealth but on his observable performance.
What exactly are you observing that gives you such definitive information on his assholery?

Come all of you cowboys all over this land,
I'll teach you the law of the Ranger's Command:
To hold a six shooter, and never to run
As long as there's bullets in both of your guns.
-- Woody Guthrie

This message is a reply to:
 Message 80 by Phat, posted 12-05-2022 9:59 AM Phat has not replied

  
Phat
Member
Posts: 18389
From: Denver,Colorado USA
Joined: 12-30-2003


Message 84 of 302 (903163)
12-05-2022 1:22 PM


Addressing The Book
Lets continue with the book. Theodoric is trying in vain to discredit Ray Dalio with no evidence to back his argument up, except what he can google off of the internet. My advice is to ignore him and read the book (or watch the video) yourselves if you are at all interested in the premise.
In Part 1, How The World Works Dalio describes what he learned through observation and the study of History. As a businessman, he said that
Dalio:
In order to handle my responsibilities well, I have needed to understand the most important factors that go into making countries and their markets succeed and fail.(...)I needed to study as many analogous historical cases as possible to understand the mechanics of how they transpired.
As the founder of Bridgewater Associates, one of the largest and most successful Hedge Funds globally, I can see why Dalio would have been wise to chart trends and reasons for a countries rise and fall. The fund averaged a 25% return for its investors through the early 2000's until around 2015.

The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of a doubt, what is laid before him.” - Leo Tolstoy, The Kingdom of God is Within You (1894).
When both religious and non-religious people reach the same conclusions then you know religion isn't the reason.--Percy
Nor are Democrats the best party or the only one we should have. -Phat,2022 addressing The Peanut Gallery.

Replies to this message:
 Message 86 by Theodoric, posted 12-05-2022 1:47 PM Phat has replied
 Message 96 by Taq, posted 12-06-2022 10:46 AM Phat has seen this message but not replied

  
Theodoric
Member
Posts: 9283
From: Northwest, WI, USA
Joined: 08-15-2005
Member Rating: 2.1


Message 85 of 302 (903164)
12-05-2022 1:41 PM
Reply to: Message 82 by Phat
12-05-2022 10:35 AM


Whatever Phat
I really don't care if you believe me. That you can not understand that someone successful in selling and buying stocks does not make one an economist is classic Phat. I keep an open mind but unlike you prefer to listen to experts in the field.
At one point, he paid a stripper to drop her clothes in front of a crowd at the annual convention of the California Food and Grain Growers' Association.[24] His creative ways of blowing off steam continued, and exploded on New Year's Eve in 1974 after he went out drinking with some colleagues, including his boss. After a disagreement with his superior, a drunk Dalio punched him in the face. Soon afterward, he was let go from his job at Shearson Hayden Stone.
Ray Dalio - Wikipedia
Ass.
Maybe if I had caddied for Wall Street titans and given a job by one I would be a successful investor.
You seem to think I am attacking him personally and his success. I am not. I am pointingt out he is not an economist. He spouts a litany of aphorisms and shallow concepts. He is not a great thinker. He is a salesman.

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 82 by Phat, posted 12-05-2022 10:35 AM Phat has not replied

  
Theodoric
Member
Posts: 9283
From: Northwest, WI, USA
Joined: 08-15-2005
Member Rating: 2.1


(1)
Message 86 of 302 (903166)
12-05-2022 1:47 PM
Reply to: Message 84 by Phat
12-05-2022 1:22 PM


Re: Addressing The Book
Before I would decide to waste my time reading a book with such a pretensions title, I am going to read what experts in the field have to say. I am also going to research what background the author has to make such claims. Neither experts nor his background give any assurance he has any expertise to write a book I should give a rats and about. He has no expertise in economics or international relations. Show me his expertise in these fields. Do you even know what a hedge fund manager is and what they do? Go ahead tell us.

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 84 by Phat, posted 12-05-2022 1:22 PM Phat has replied

Replies to this message:
 Message 88 by Phat, posted 12-05-2022 6:37 PM Theodoric has replied

  
Phat
Member
Posts: 18389
From: Denver,Colorado USA
Joined: 12-30-2003


Message 87 of 302 (903172)
12-05-2022 6:27 PM
Reply to: Message 77 by ringo
12-04-2022 2:47 PM


DIGITAL CURRENCY
ringo writes:
We already have digital currency. Where have you been for the past forty years? (...)I have told you before, when my brother died, we had access to his bank statements.
The banking and credit system has been digital for a long time, as you say. But what if your brother had cashed out his paycheck, government check or whatever and paid cash for all of his coffee and items which he purchased? You would be none the wiser. You may even never have known that he preferred Tim Horton's, had you not talked with him otherwise.
This is what is concerning about a digital dollar. If every single transaction ever made could be tracked, you would be hounded by regulations beyond what is necessary. As an example, say I wanted to trade my car for a better one and my neighbor agreed to swap cars if I gave him cash. Under the old system, the exchange would be private. Under the new system, everything one does would be tracked and recorded. (or hypothetically could at any rate.)
This gets back to the differing ideologies of freedom and equality. Am I not free to buy a car from a private seller and not have the value exchange tracked so obsessively? What if I bought a gold coin? The coin store does not report purchases under a certain dollar value or a certain quantity of coins purchased.
Or take casinos. It used to be that if a guy won a jackpot, he would not trigger a mandatory tax form under a certain amount (I believe the amount was $1000.00) The casinos later switched to paper voucher payouts and eliminated the clunky tokens. I don't think much else changed in regards to the mandatory reporting rules, but lets say that it did. Lets say that every time you won over $100.00 the tax was noted, even if you turned around and lost $100.00! Or lets say that your overall winnings and losings were tracked 100% and you owed tax every darn time you came out ahead? To me that is overarching government control and authoritarian.
ringo writes:
The "offshore system" that you touted recently is cheating.
While I agree that wealthy individuals should be watched closer for tax evasion than a hundred dollar winner at a casino, under the new system EVERYONE is held accountable. Conservatives rightly detest big government and obsessive control over everyone's private lives.

The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of a doubt, what is laid before him.” - Leo Tolstoy, The Kingdom of God is Within You (1894).
When both religious and non-religious people reach the same conclusions then you know religion isn't the reason.--Percy
Nor are Democrats the best party or the only one we should have. -Phat,2022 addressing The Peanut Gallery.

This message is a reply to:
 Message 77 by ringo, posted 12-04-2022 2:47 PM ringo has replied

Replies to this message:
 Message 90 by nwr, posted 12-05-2022 8:33 PM Phat has replied
 Message 92 by DrJones*, posted 12-05-2022 11:47 PM Phat has replied
 Message 97 by ringo, posted 12-06-2022 11:07 AM Phat has replied

  
Phat
Member
Posts: 18389
From: Denver,Colorado USA
Joined: 12-30-2003


Message 88 of 302 (903173)
12-05-2022 6:37 PM
Reply to: Message 86 by Theodoric
12-05-2022 1:47 PM


Phat Hedges His Bets
Do you even know what a hedge fund manager is and what they do?
I thought they were investment advisors. Google elaborated a bit.
Career Guide@Indeed.com writes:
A hedge fund manager may have the following responsibilities: Offer investment recommendations to clients based on predictions and risk needs. Monitor investment performance and make decisions to buy or sell stocks. Communicate with potential investors to join the hedge fund.
*Continues surfing...*
Investopedia writes:
A hedge fund manager is firm or an individual who manages, makes investment decisions, and oversees the operations of a hedge fund. Managing a hedge fund can be an attractive career option because of its potential to be extremely lucrative. To be successful, a hedge fund manager must consider how to have a competitive advantage, a clearly defined investment strategy, adequate capitalization, a marketing and sales plan, and a risk management strategy.
Key Takeaways
A hedge fund manager is a financial company or individual that employs professional portfolio managers and analysts in order to establish hedge funds.
Hedge fund managers typically earn above average compensation, often from a two-and-twenty fee structure from investors.
Hedge fund managers typically specialize in a particular investment strategy that they then use as their fund portfolio's mandate.
Am I missing something?

Hedge funds 101: What are they and how do they work?

Is your financial advisor employed by a firm or are they self-employed? Do they make a fair wage? If so, than whats the frickin problem???

The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of a doubt, what is laid before him.” - Leo Tolstoy, The Kingdom of God is Within You (1894).
When both religious and non-religious people reach the same conclusions then you know religion isn't the reason.--Percy
Nor are Democrats the best party or the only one we should have. -Phat,2022 addressing The Peanut Gallery.

This message is a reply to:
 Message 86 by Theodoric, posted 12-05-2022 1:47 PM Theodoric has replied

Replies to this message:
 Message 89 by Theodoric, posted 12-05-2022 6:44 PM Phat has not replied
 Message 98 by ringo, posted 12-06-2022 11:10 AM Phat has seen this message but not replied

  
Theodoric
Member
Posts: 9283
From: Northwest, WI, USA
Joined: 08-15-2005
Member Rating: 2.1


Message 89 of 302 (903174)
12-05-2022 6:44 PM
Reply to: Message 88 by Phat
12-05-2022 6:37 PM


Re: Phat Hedges His Bets
Done with the willful ignorance. Go from Pied Piper to Pied Piper.

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 88 by Phat, posted 12-05-2022 6:37 PM Phat has not replied

  
nwr
Member
Posts: 6421
From: Geneva, Illinois
Joined: 08-08-2005
Member Rating: 3.5


(2)
Message 90 of 302 (903178)
12-05-2022 8:33 PM
Reply to: Message 87 by Phat
12-05-2022 6:27 PM


Re: DIGITAL CURRENCY
This is what is concerning about a digital dollar. If every single transaction ever made could be tracked, you would be hounded by regulations beyond what is necessary.
If you carry a cell phone, you are being tracked. If you use a computer, you are being tracked. Get used to it.
As an example, say I wanted to trade my car for a better one and my neighbor agreed to swap cars if I gave him cash. Under the old system, the exchange would be private.
As far as I know, you cannot register a car without saying how you acquired it.
Or take casinos. It used to be that if a guy won a jackpot, he would not trigger a mandatory tax form under a certain amount (I believe the amount was $1000.00)
So this really is all about you wanting to cheat on taxes.

Fundamentalism - the anti-American, anti-Christian branch of American Christianity

This message is a reply to:
 Message 87 by Phat, posted 12-05-2022 6:27 PM Phat has replied

Replies to this message:
 Message 91 by Phat, posted 12-05-2022 9:07 PM nwr has seen this message but not replied

  
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