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Author Topic:   Testing The Financial Apologists
nwr
Member
Posts: 6418
From: Geneva, Illinois
Joined: 08-08-2005
Member Rating: 5.5


(3)
Message 556 of 581 (918582)
05-10-2024 11:48 PM
Reply to: Message 553 by Phat
05-10-2024 3:07 PM


Re: The Issue Between Us Is Political
Phat in Message 553 writes:
The Issue Between Us Is Political
No, it isn't political, at least in my case. My view comes from looking at how money seems to work.
..., though I cannot understand why nobody likes videos.
Watching videos takes time and is tedious. I can get a lot more useful information per minute by reading than by watching videos.

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

This message is a reply to:
 Message 553 by Phat, posted 05-10-2024 3:07 PM Phat has replied

Replies to this message:
 Message 558 by Phat, posted 05-15-2024 11:55 AM nwr has replied

  
Taq
Member
Posts: 10158
Joined: 03-06-2009
Member Rating: 4.7


Message 557 of 581 (918593)
05-13-2024 10:58 AM
Reply to: Message 553 by Phat
05-10-2024 3:07 PM


Re: The Issue Between Us Is Political
Phat writes:
I'm convinced that the issue between the peanut gallery and myself regarding the role of the US Dollar in international trade, the value and purpose of Gold and other precious metal commodities, and the narrative of so called "experts" and other interests is in fact political. I say this now because I have observed that most of the people whom I trust who teach this stuff, while not "official government economists" are in fact three things.
Wealthy. They do not need YouTube video clicks to give themselves an income.
Libertarian or Conservative. They would agree with Ron Paul.
Largely in agreement with others who think like them.
Left off the list: economists.
What I think you forget is that greed trumps politics. Is there a big push for buying gold amongst the biggest players in investments? No. Do you think they are purposefully losing money for some political goal?
Gold is just an investment, like any other. It has less risk than some investments, but also less return. If you want to invest in gold, then go for it. Be my guest.
What doesn't make sense is all of the conspiracy theories surrounding the collapse of fiat currencies. The world gave the gold standard a try, and it sucked. We aren't going back, and for good reason. The gold standard is too inflexible for a modern economy because it limits the growth of the economy to how much gold you have. It also takes away tools that can be used to fix recessions and inflation. That's why the US abandoned the gold standard, well after the rest of the world did.
I will also expose Jared Bernstein, one of Bidens office of economic affairs appointees and attempt to make a case not necessarily against Biden but against the "official government sources" which I honestly feel are at worst misleading and at best soothing the fears of the public for national interests.
When you have something more than conspiracies, let us know.

This message is a reply to:
 Message 553 by Phat, posted 05-10-2024 3:07 PM Phat has not replied

  
Phat
Member
Posts: 18388
From: Denver,Colorado USA
Joined: 12-30-2003


Message 558 of 581 (918607)
05-15-2024 11:55 AM
Reply to: Message 556 by nwr
05-10-2024 11:48 PM


Re: The Issue Between Us Is Political
Percy writes:
I think you're ill and that responding to you is mostly pointless because you're unable to absorb or correctly interpret much that is said, as is already readily apparent in many of your messages...
I was at the Doctor yesterday and my A1C is 7.8. Why you always assume I am insane is because I am exposing the fragility of the US global financial position.
This scares you to death (as it would anyone) and the fact is that much of this country is in denial. You won't hear any truth in an election year but you will see the other party blamed for the problem after the elections. (whichever party wins! )

This message is a reply to:
 Message 556 by nwr, posted 05-10-2024 11:48 PM nwr has replied

Replies to this message:
 Message 559 by Theodoric, posted 05-15-2024 12:24 PM Phat has not replied
 Message 560 by Taq, posted 05-15-2024 3:20 PM Phat has not replied
 Message 561 by Admin, posted 05-15-2024 3:24 PM Phat has not replied
 Message 562 by nwr, posted 05-15-2024 6:55 PM Phat has not replied

  
Theodoric
Member
Posts: 9274
From: Northwest, WI, USA
Joined: 08-15-2005
Member Rating: 2.7


Message 559 of 581 (918608)
05-15-2024 12:24 PM
Reply to: Message 558 by Phat
05-15-2024 11:55 AM


Re: The Issue Between Us Is Political
7.8 is not good and is probably the best it has been in a while. It's gonna kill ya. I am soon to be 62. A couple years ago I was prediabetic. With diet and exercise changes I am now nowhere near that now. It takes work. I limit a lot of things I like to eat and drink and I get exercise every day. Another great side effect. No one thinks I am a nut job.

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 558 by Phat, posted 05-15-2024 11:55 AM Phat has not replied

  
Taq
Member
Posts: 10158
Joined: 03-06-2009
Member Rating: 4.7


Message 560 of 581 (918610)
05-15-2024 3:20 PM
Reply to: Message 558 by Phat
05-15-2024 11:55 AM


Re: The Issue Between Us Is Political
Phat writes:
Why you always assume I am insane is because I am exposing the fragility of the US global financial position.
You are just asserting that the US global financial position is fragile. You aren't exposing anything. Your posts are the equivalent of the guy on the street corner with the sign "THE END IS NEAR".

This message is a reply to:
 Message 558 by Phat, posted 05-15-2024 11:55 AM Phat has not replied

  
Admin
Director
Posts: 13081
From: EvC Forum
Joined: 06-14-2002
Member Rating: 2.4


Message 561 of 581 (918611)
05-15-2024 3:24 PM
Reply to: Message 558 by Phat
05-15-2024 11:55 AM


Re: The Issue Between Us Is Political
I've set your post limit to 1 per week. Get some help.

--Percy
EvC Forum Director

This message is a reply to:
 Message 558 by Phat, posted 05-15-2024 11:55 AM Phat has not replied

  
nwr
Member
Posts: 6418
From: Geneva, Illinois
Joined: 08-08-2005
Member Rating: 5.5


Message 562 of 581 (918613)
05-15-2024 6:55 PM
Reply to: Message 558 by Phat
05-15-2024 11:55 AM


Re: The Issue Between Us Is Political
Phat writes in Message 558:
I was at the Doctor yesterday and my A1C is 7.8.
This is weird. According to the indicator at top right, it is a reply to me. However, based on content, it looks more likely to be intended as a reply to Percy.

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

This message is a reply to:
 Message 558 by Phat, posted 05-15-2024 11:55 AM Phat has not replied

Replies to this message:
 Message 563 by Percy, posted 05-15-2024 9:21 PM nwr has seen this message but not replied

  
Percy
Member
Posts: 22606
From: New Hampshire
Joined: 12-23-2000
Member Rating: 4.9


Message 563 of 581 (918615)
05-15-2024 9:21 PM
Reply to: Message 562 by nwr
05-15-2024 6:55 PM


Re: The Issue Between Us Is Political
Phat clicked the reply button on your Message 556 then quoted text from my Message 553 and replied to that.
--Percy

This message is a reply to:
 Message 562 by nwr, posted 05-15-2024 6:55 PM nwr has seen this message but not replied

  
Phat
Member
Posts: 18388
From: Denver,Colorado USA
Joined: 12-30-2003


Message 564 of 581 (919000)
06-12-2024 5:33 PM
Reply to: Message 21 by jar
10-06-2021 2:47 PM


Thinking In Todays Dimension..
First of all, welcome back. IIRC, we were discussing inflation and the future of the US economy.
This is from the Federal Reserve Bank of San Francisco. /Pandemic savings Are Gone: What’s Next for U.S. Consumers?
The latest estimates of overall pandemic excess savings remaining in the U.S. economy have turned negative, suggesting that American households fully spent their pandemic-era savings as of March 2024. However, consumer spending has remained strong in recent months, which raises an important question: What’s next?
Anyone with a basic knowledge of math may conclude that we are in way over our heads. The Debt is over 34 trillion. Throw in future obligations and the debt total is over 100 trillion dollars. My basic argument is that a reset is inevitable once the average consumer loses faith in the US system.
jar writes:
Phat, I was an optician and I made $400 a month salary.

Gas was about a quarter a gallon.

My rent was $90.00 a month and that included all utilities.

Stop thinking in terms of one dimension.

Minimum wage was about a dollar an hour.

Yes inflation happens but so does wage increases.
The US blew it when we started weaponizing the global reserve currency and sanctioning a nation as large and powerful as Russia. The West is largely debt based economies. The East is increasingly positioning as resource based economies. Ukraine will never win that war.
Though we promised 200 billion in aid for them, (without congressional approval) all that is happening is a move supporting Eisenhowers old nemesis...the Military Industrial Complex. Our debt, currently 34.7 trillion dollars, is well over 120% GDP. We have largely lost petrodollar status due to some dimwit announcing that we will go green. China has picked up on that dropped opportunity and ha basicaly been promised a PetroYuan.
China is no longer buying US treasuries and has switched to Gold as a medium of exchange between BRICS nations. The Dollars hegemony is coming to an end.
So say that you were an optician in 2024. You make $4000.00 a month.
Your rent is $1500.00 a month or more.
Gas is $4.00 a gallon.
Inflation is far higher than it was when you made $400.00 a month.
Janet Yellin recently threatened to sanction Beijing if they supported Russia.
WE as a nation are arrogant and financially clueless.

This message is a reply to:
 Message 21 by jar, posted 10-06-2021 2:47 PM jar has replied

Replies to this message:
 Message 565 by jar, posted 06-12-2024 7:38 PM Phat has replied
 Message 574 by Taq, posted 06-13-2024 11:23 AM Phat has not replied
 Message 580 by Theodoric, posted 06-13-2024 4:51 PM Phat has not replied

  
jar
Member
Posts: 34048
From: Texas!!
Joined: 04-20-2004
Member Rating: 5.7


Message 565 of 581 (919001)
06-12-2024 7:38 PM
Reply to: Message 564 by Phat
06-12-2024 5:33 PM


Re: Thinking In Todays Dimension..
My mortgage is 743.00 a month.
Gas is under $3.00 a gallon.
I drive about 120 miles a month.
Yawn.

This message is a reply to:
 Message 564 by Phat, posted 06-12-2024 5:33 PM Phat has replied

Replies to this message:
 Message 566 by Phat, posted 06-12-2024 7:45 PM jar has replied

  
Phat
Member
Posts: 18388
From: Denver,Colorado USA
Joined: 12-30-2003


Message 566 of 581 (919002)
06-12-2024 7:45 PM
Reply to: Message 565 by jar
06-12-2024 7:38 PM


Re: Thinking In Todays Dimension..
So Texas is cheaper than average. You still have not refuted my basic premises.
  • The world is beginning to dedollarize.
  • The debt is over 120% GDP
    and for good measure...
  • ! Trillion every 90-100 days is added to the debt.
    Yes, Texas is cheap to live in but the US is in trouble.
    Blame the imbiciles who embrace Modern Monetary Theory. They cant add.

  • This message is a reply to:
     Message 565 by jar, posted 06-12-2024 7:38 PM jar has replied

    Replies to this message:
     Message 567 by jar, posted 06-12-2024 7:50 PM Phat has replied
     Message 570 by jar, posted 06-12-2024 9:37 PM Phat has replied
     Message 575 by Taq, posted 06-13-2024 11:30 AM Phat has not replied

      
    jar
    Member
    Posts: 34048
    From: Texas!!
    Joined: 04-20-2004
    Member Rating: 5.7


    (1)
    Message 567 of 581 (919003)
    06-12-2024 7:50 PM
    Reply to: Message 566 by Phat
    06-12-2024 7:45 PM


    Re: Thinking In Todays Dimension..
    You have no basic premise.
    Is inflation up? Depends on which periods you are comparing.
    Is the US economy doing well compared to other nations? Yes, super star well.

    This message is a reply to:
     Message 566 by Phat, posted 06-12-2024 7:45 PM Phat has replied

    Replies to this message:
     Message 568 by Phat, posted 06-12-2024 7:52 PM jar has replied

      
    Phat
    Member
    Posts: 18388
    From: Denver,Colorado USA
    Joined: 12-30-2003


    Message 568 of 581 (919004)
    06-12-2024 7:52 PM
    Reply to: Message 567 by jar
    06-12-2024 7:50 PM


    Re: Thinking In Todays Dimension..
    So we are still the better of equals. Not for long, however.

    This message is a reply to:
     Message 567 by jar, posted 06-12-2024 7:50 PM jar has replied

    Replies to this message:
     Message 569 by jar, posted 06-12-2024 7:59 PM Phat has seen this message but not replied

      
    jar
    Member
    Posts: 34048
    From: Texas!!
    Joined: 04-20-2004
    Member Rating: 5.7


    (1)
    Message 569 of 581 (919005)
    06-12-2024 7:59 PM
    Reply to: Message 568 by Phat
    06-12-2024 7:52 PM


    Re: Thinking In Todays Dimension..
    The SKY is falling! The SKY is falling!

    This message is a reply to:
     Message 568 by Phat, posted 06-12-2024 7:52 PM Phat has seen this message but not replied

      
    jar
    Member
    Posts: 34048
    From: Texas!!
    Joined: 04-20-2004
    Member Rating: 5.7


    Message 570 of 581 (919006)
    06-12-2024 9:37 PM
    Reply to: Message 566 by Phat
    06-12-2024 7:45 PM


    time to present your reasoning?
    Phat writes:
    The world is beginning to dedollarize.
    Not sure 'dedollarize' is a real word but what possible difference would it make is there was no 'set' standard currency or if the standard was the Chinese Yuan or the Japanese Yen or the Russian Ruble or British Pound Sterling or any other currency except maybe the Solomon Island Rai Stones?

    This message is a reply to:
     Message 566 by Phat, posted 06-12-2024 7:45 PM Phat has replied

    Replies to this message:
     Message 571 by Phat, posted 06-12-2024 11:33 PM jar has replied

      
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