ActionianJacksonian
Well-Known Member
That's paper precious metal.i'm not an economist, i understand what they mean by notional value, but i don't get the significance of that chart
That's paper precious metal.i'm not an economist, i understand what they mean by notional value, but i don't get the significance of that chart
Sounds like someone has been adding up monthly averages. It’s ~9%, not 48%.It's a world wide issue. The Netherlands have 48% inflation, other countries higher than ours.
https://www.weforum.org/agenda/2022/06/inflation-stats-usa-and-world/Sounds like someone has been adding up monthly averages. It’s ~9%, not 48%.
My waste product is gold filingsThat's paper precious metal.
Like from a process hopefully not biological? What is it?My waste product is gold filings
People close their eyes for all the crap heading our way and whine about their first world problems. Like the price of overpriced unhealthy climate change enabling crap they buy cause they watched too many commercials or want to feel better about themselves. Crap that consist mostly of sugar, modified starch and palm oil. Big ass freezers, heating every room/floor, ipads for the whole family and buying disposable stuff in a never-ending consumer frenzy. Subscriptions to magazines they don’t read, gyms they don’t visit, phones they replaced, tv channels they don’t watch. There are more job openings than unemployed, job security has never been this high, over a half a trillion in savings accounts, generous welfare system, essentially free healthcare and nearly free education. Any political or economic system has the same flaw: humans. The main problem is still inequality. In the US, NL and everywhere else. 1% richest has more than 90% poorest, yet it's the 2-9% richest people in the world who complain and whine while not appreciating the many great nor small things in life. Survival of the fittest will look very different from what people would expect. All it requires to be fit is not to be a complete idiot, like most nowadays.https://www.weforum.org/agenda/2022/06/inflation-stats-usa-and-world/
https://www.un.org/development/desa/dpad/publication/world-economic-situation-and-prospects-june-2022-briefing-no-161/
the U.S. isn't doing to bad, but we have a lot of room for improvement.
if we want to improve...the world economy is a sick beast that's been kept alive with infusions, transfusions, and black alchemy for at least 25 years...maybe it's time to let it trash around and die, so a new beast can harnessed...
I'm a glass 1/2 full kinda guy so i have to ask what do you think is coming our way?People close their eyes for all the crap heading our way and whine about their first world problems. Like the price of overpriced unhealthy climate change enabling crap they buy cause they watched too many commercials or want to feel better about themselves. Crap that consist mostly of sugar, modified starch and palm oil. Big ass freezers, heating every room/floor, ipads for the whole family and buying disposable stuff in a never-ending consumer frenzy. Subscriptions to magazines they don’t read, gyms they don’t visit, phones they replaced, tv channels they don’t watch. There are more job openings than unemployed, job security has never been this high, over a half a trillion in savings accounts, generous welfare system, essentially free healthcare and nearly free education. Any political or economic system has the same flaw: humans. The main problem is still inequality. In the US, NL and everywhere else. 1% richest has more than 90% poorest, yet it's the 2-9% richest people in the world who complain and whine while not appreciating the many great nor small things in life. Survival of the fittest will look very different from what people would expect. All it requires to be fit is not to be a complete idiot, like most nowadays.
Inflation back then is nothing like the inflation we've experience today.Carter inflation was solved wit 20% interest. Try that with our debt.
At the end of the Revolutionary War we printed tons of paper money to induce inflation. It was a way for us to retire our debts from the war at a fraction of their real value. I don't think that is the plan this time around.Carter inflation was solved wit 20% interest. Try that with our debt.
By the yardstick both the CIA and the IMF judge to be the best metric for comparing national economies – purchasing power parity – China has already surpassed the U.S. to become the world’s largest economy. https://www.belfercenter.org/publication/great-economic-rivalry-china-vs-us
CBDC. Central Bank Digital Credit, all of which will be Special Drawing Rights.By the yardstick both the CIA and the IMF judge to be the best metric for comparing national economies – purchasing power parity – China has already surpassed the U.S. to become the world’s largest economy. https://www.belfercenter.org/publication/great-economic-rivalry-china-vs-us
But again, what do you think is coming our way?
The monkey keeps banging on that tin drum. His owner feeds him treats for doing so.CBDC. Central Bank Digital Credit, all of which will be Special Drawing Rights.
So who is feeding Jerome Powell these treats?The monkey keeps banging on that tin drum. His owner feeds him treats for doing so.
Incorrect. Currency is created by the borrower via endorsement and vetting at the time of a loan. It's so elementary I'm not sure why you would attempt to deny it.Inflation back then is nothing like the inflation we've experience today.
For one thing, recently, we've only had something like three months of high annualized inflation. The era of high inflation you refer to lasted more than a decade. You are either fear mongering of some kind of Chicken Little. Maybe a Pigeon Little or Rat Little. In any case, the sky is not falling. We are not at the beginning of decades-long high inflation. Nobody with knowledge and experience on the subject says we are. I suppose you will find a few who do. The exception proves the rule.
For another thing, in that earlier era of high inflation, it first became a serious problem under Nixon. It was 5.5% in 1970 while Nixon was still in office and peaked at 14.5% when Reagan was in office. Typical of righties to blame problems that begin during a Republican presidency on Democrats. Authoritarians are like that. The truth matters not to them. More rightly you should have called it Nixon inflation or even more close to the truth, it should be called Republican inflation. Nixon tried to fight inflation using price controls. And that policy failed just like price controls have failed every time before. Carter was the one who initiated a policy of fighting inflation with high interest rates. Again, it was a Democrat solved a problem that began under a feckless Republican administration.
What you suggest is not necessary (20% interest). It is not necessary BECAUSE Biden is managing the crisis with great competence.
Regarding your fixation on how money is created when a bank finalizes a loan. Yes, that money doesn't exist at that moment. The borrower is trading their future earnings in exchange for money at the present time. So, it's nothing like the picture you paint. The bank is not creating money out of nothing. The borrower is promising to create value through their efforts and pay the bank back through their future earnings. The system is based upon faith but not an empty promise. The borrower must show to the bank that they are able to pay that loan back. So, money is not being "created" by the bank. It is created over time by the borrower.