Political Opinion

Well I have to say I was very surprised at just how much sense - I found in that discussion !

Their recognition that the Siamese-Twinning of the “governments” (Both sides) with the Super-Rich “tech Companies” and their joint assimilation of the “news media” as their Propaganda arm - pointing out that this was in fact Fascism - I found quite convincing.

As you will know, I have a lot of empathy for men and boys and the way they are being abused by our current society. Many are simply “Opting out” of “Society” and going their own way.

Many of their “solutions” co-incide with what the guy was saying about “Not providing tax-dollars” !

  • In fact it was the collapse of the “white male vote” which cost Trump the Election ! - and as I posted a way back - I think it was Trump’s betrayal of their faith in him which caused that - by way of his “Tax -reforms” removing the tax-allowance on their “Alimony payments” ! - I said at the time - I myself would have voted against him for that ! (And Only for That !)

  • don’t underestiimate the "Working man " !

Perhaps we cannot “out-vote” their corruption, - but maybe they will find their “Power grab” a little less easy - if we just leave them those who cannot or will not co-operate and perform - with Competence !

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It was Peterma not I who verified what I said with charts

The inflation number you are using is what the US government uses to screw over Social Security recipients, If they used the real inflation number they would have to raise S.S. 7% a year.

I don’t understand why you keep questioning me about my own country, I have been here 62 years and I know what they do and the lies they tell, you don’t see me questioning your knowledge of your country

Just ask I will be happy to help

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Carlos

Here are just a few examples of real inflation in the US

would you care to tell us what the US is looking at to get their number, it should be easy for you being the expert in US economics

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For inflation I have always liked the new Suit example

In 1900 if you had a ounce of gold and I had a $20 bill they were worth the same and we both could had bought a very nice new Suit

Fast forward to 2021 and your ounce of gold will still get you a very nice Suit, my $20 bill will not even but the Tie

The US dollar since they have become Federal Reserve Notes have lost about 98% of their original buying power. and some here say inflation is good. I respectfully disagree

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Yup - just about a Savile Row jobbie !

Personally - I’ll keep the gold (and the cheaper suits ! :wink: )

Now I’m not quite in that mindset - I’ll lve with Inflation - OR - Deflation (bit iffy about “no movement” - in fact - VERY “iffy”)

But neither of those states wants to be “Raging” and I’d prefer “Inflation” - but we need to KNOW - what we’re in for ! - Personally - I expect Inflation and as such had some cash - so I’ve paid off all my debts and cleared the mortgage. (Inflation = Higher interest rates and lower money value - Higher “asset Values”).

Now if I was a yoounger man - I’d be looking to Maximise debt on things like property - (and looking to service that debt by renting it out as far as possible) - on the basis that my capital would storm ahead and my debts would reduce in real terms. - BUT you HAVE to be able to service that debt in the short / medium term. - Otherwise - You’re BUSTED !

I remember in the early 2000’s we were expecting the “Deflationary Crash” - which eventually came in 2008 (For the same reasons @Blackduck correctly identifies now) and my mates were all “Getting into cash” - on the basis the banks could not be “Baled out” - my view was different - I thought they would “Bale out the banks” and “Inflate their way out of it” !

NONE of us foresaw “Interest rates at zero or below” - but of course that only applies to “Governments” - My Credit Card - still runs at 18% ! - Just that I get a derisory income off “Cash at the bank”. - so as I said - kill the debt using that cash !

The thing is that none of us really understand the true nature of “Money” - we all assume that it is sort of “worth something” - which it isn’t ! - your “Suit” reference gets close.

I’ve actually been through quite a lot of “Economics” doctrine in various parts of my “Education” and the one thing none of it can do is explain the “Business cycle” - to which @Blackduck alludes earlier.

Now there IS a book I found a few years ago - which actually DOES do that in passing = and in a very convincing way.

This does at first reading sound a bit “Left field” )Perhaps I should say “Off the wall”) - but believe me - It is life changing stuff ! which we as students of the world really should know ! - It also gives the understanding which convinced me that “Zero-inflation” - would be a BAD place - because “interest on debt” would kill our economies stone dead, in short order - without extra money coming in via inflation !

Ok here it is and I invite all those interested in this part of th e thread to learn from what it has to offer ie @peterma, @CarlosRay, @Blackduck and of course yourself. The on e downside is that whilst he os great on “the Problem” his “Solutions” are Poor !

Anyhow - Please do read - and perhaps we can do another thread on the contents ?

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The correct name for this is Modern Monetary Theory, pretty scary to think the entire world’s economy is resting on an unproven academic theory

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Firstly - as a PEDANTIC Scientist - May I point out that Eistein had a “Theory” Newton had a “Theory” - this is NOT a “Theory” - it is at best a HYpothesis and more realistically a “Conjecture” - as are so many other of these so called “Theories” so beloved of our Propagandist “mentors” :- "Conspiracy Theory, Critical Theory, Critical Race Theory< etc etc = No a “Theory” is something which has been rigorously examined and accepted as “Close to the truth” by Scientific examination - NOT some randon conjecture - by a “Study” from someone still in nappies (Diapers) !

Secondly - as presented - it represents “Keynsianism on Steroids” - and when asked about the “Long term consequences” of his Hypothesis - Keynes said "In the Long Term we are all dead !"

Thirdly - MMt contains just enough of a grain of “truth” - to be considered as “Credible” - like “Race Theory” or “feminist Theory”

Insofar as MMT postulates that it is ok for a country to go into debt - because that debt can be reduced by devaluation of the currency !

HOWEVER that only works “at the margin” and only if teh currency is unique to the country. - That is what the IMF deliberately (we think) refsed to consider when creating the “Banana Republics” and what is clearly observable in the “Greece” situation.

Greece is a country whose "personality is “Laid back” - gently corrupt and whose citizens don’t pay their taxes :sunglasses:

Greece has a lot of sunshine and wine and food and is actually a nice holiday resort !

So they sell this stuff to Tourists - many from the uk - and we used to get cheap holidays - lots of booze and have a great time.

THen they "joined the EURO ! " so the price of everything went UP ! to “Level the playing field” with the rest of the “EU” - Our holidays doubled or tripled in prece AND WE JUST “Went somewhere else” :slightly_smiling_face:

So now the Greeks had no income! and under MMT (or even iunder what we now call “sovereignty”) - They could have just devalued their currency and our holidays would be cheap again - and they would get loadsa money ! :sunglasses:

BUT THEY’re STUCK with this damned EURO ! - So they do NOT have the power to reduce their prices !

Bye-Bye our Greek mates !

MMT doesn’t work unless you have sovereignty (AND credibility) !

The book details this in “Banana Republics” as the IMF insisted the “debt” was to be denominated in Dollars! - soo to pay even th einterest on the “Debt” the food farms had to be devoted to “Bananas” to be sold for “dollars” to pay the interest - whilst the population starved !

Now when the “Globalists” get their way - EVERYONE will be stuck with the same currency - and there will be NO chance for differential currenct=y movement - which is in fact what “Forex” is all about !

Don’t forget John Meynard Keynes

In the long term - we are all dead !"

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Bingo!!

If you couple this devaluation of the currency witha rise in inflation and interest rates you all of a sudden get a situation of hyperinflation. Much like Venezuela or Tansania and whilst those countries had other underlining institutional issues of corruption, hyperinflation destroyed their economies.

Considering that MMT has been touted as the saving grace of all financial problems by Alexandria Ocasio Cortex and Bernie Sanders, two economic giants that obtained their economics degrees from a box of Corn Flakes, I should think this in itself should send warning signs that it is a bad idea.

Just ask yourself, if the government can give lots of free stuff around because money is never ending why not just give everyone a million dollars and we will all be rich.

Mondern Monetary Theory or quantative easing are, what I believe to be, ticking time bombs.

I hope I am wrong.

Cheers

Blackduck

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I din’t know you play the “housey Housey” :slightly_smiling_face:

A country where the population have on average lost 20 pounds in weight and where it is ILLEGAL for medics to mention “malnutrition” or Starvation" on death certificates - yet it has the worlds greatest Oil reserves a few miles off it’s coast !

Lefties rule – ok!

Not quite the same thing as MMT - but quite logical when we understand “the nature of money” - I say to you

John Law

Pease do trust my judgement on this one and read the book ! :slightly_smiling_face:

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You’re Not ! :slightly_smiling_face:

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Ask @Dennis3450 about that one = Personally I reckon “Free money” works at the individual level - but Not as a general panacea ! :wink:

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This video is well worth watching as it explains brilliantly what I have been trying to say.

So @Dennis3450 @Falstaff @CarlosRay @peterma watch as I think it will be very informative for you. There is a part 2 but part 1 will explain the basics.

Cheers

Blackduck

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Dennis.
You can’t just pick out one or two examples to “prove” your case. I could just as easily say that the new pc I’ve bought was almost half the price of the 8-year old model it replaced. That doesn’t mean all prices are moving in that way any more than examples of housing or medical costs does.

A better question might be if the government can just print money why do they need us to pay taxes.

What the government is doing with their free stuff is buying votes , this is different then say a Universal Basic Income ( UBI) that I see as need to bridge the gap as A.I. devastates the labor market and we move toward a Post Scarcity Economy ( kind of like in Star Trek)

I don’t see our real life Post Scarcity Economy being the money less, free energy, anything you want from a replicator Utopia. But it will be different and the central banks will not be needed and they are not going to go away quietly

Clearly I have gotten off topic, back to what we all agree on

2% inflation is fake, Central banks are bad, and endless money printing is not sustainable

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Can’t count can you, I gave you 4 examples and here they are again, Education, Housing, Food and Medical, add energy to that mix and you will have the core of what most people spend 90% of there income on. So why are not these 5 core items represented in proportion to the governments fake inflation number, Simple, if the government reported real inflation numbers than they would have to raise Social Security payments to match that inflation rate, this would cause their economic ponzi scheme to crumble.

Carlos, I can tell you are a smart person, that is why I am having this discussion with you. What I do not understand is your continued support and believe in a broken and corrupt system.

biden is already pissing off our trading partners with more executive orders, Canada’s Justin Trudeau is already calling out biden on his most recent executive orders that will adversely effect trade between the US and Canada

biden has also ban travel for non US citizens from most of Europe, but US citizens can still come and go as they please,

This all sounds very Trump like, so why did we change presidents,

Not from Yahoo!, so may not be the best source…
image

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Yes Yahoo, the company that turned down a 40 billion buy out offer from Microsoft only later to sell the company to Verison for 2 billion, these are really the brains I am going to get my news from.

Its funny how they have all the answers when out of power and as soon as they get in office there is nothing they can do about it, we saw the same thing 12 years ago with the financial crisis where obama told everyone “Elect me I have a plan” then when he got into office his plan was to bail out the bankers and forclose on 5 million families

somethings never change

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Probe begins into thwarted Justice Department ‘coup’ to keep Trump in power

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