Umm, that's a complex question but pretty much all of this $ printing is to prevent deflation because all the debt in the system would have to be liquidated if we don't inflate our way out of it.As debt to GDP ratio hovers towards 200-250% over the next decade, we'll see how much appetite for debt this country has I suppose. But it is basically inflate or die given the hit asset prices would take in any other scenario.
They said Hoover was "Do nothing Hoover" during the great depression, but a big mistake a lot of economists think he made was that he propped up wages via gov't policy which didn't allow the natural deflation to take place and thus put unnecessary burdens on the economy. Since the costs of everything was going to go down, we didn't need artificially high wages.
https://www.eurekalert.org/pub_releases/2009-08/uoc--hps081909.php
Decent writeup on the basic crux of it
They said Hoover was "Do nothing Hoover" during the great depression, but a big mistake a lot of economists think he made was that he propped up wages via gov't policy which didn't allow the natural deflation to take place and thus put unnecessary burdens on the economy. Since the costs of everything was going to go down, we didn't need artificially high wages.
https://www.eurekalert.org/pub_releases/2009-08/uoc--hps081909.php
Decent writeup on the basic crux of it
[FONT=Verdana,Tahoma,Arial,Calibri,Geneva,sans-serif]No Pats I was serious when I said I don't give a fuck any longer. You know why I don't give a fuck?
Because there's not a damn thing I can do about it. And the reality is there's nothing you can do
about it either.
Sure we can get on a forum and bitch but what do we accomplish? Not a god damn thing.
I'm looking forward the stimulus check. I hope there are many more.
I'm going to cash that check and live like a king for 1 day. Then I'll go back to my normal life.
And I don't personally know anyone that the check is going to be a life saver for.
But the again I don't socialize trough feeders.
$1200 bucks will last about a month for most people, then what? Are we going to do it again and
for how long?
It's nothing more than a band aid on a hatchet wound.
There was a letter in the RJ today that summed it up nicely.
The stimulus bill has been signed. It would have been better if legislators of both parties had set
aside their agendas and wish lists and passed a one-page bill giving $3,700 to each of the 250 million
American adults and $1,000 to each of our 75 million children. This would have cost “only” $1 trillion.
Best of all would have been if the elites had stepped up to give something back to the country that made
it possible for them to accumulate their wealth. The top 1 percent have a combined worth of $25 trillion.
Just 2 percent of that is $500 billion. That’s a $25,000 check to 20 million households without adding to
the swollen national debt.
Sandra Milhail
Las Vegas[/FONT]
I really don't follow that logic at all, Dave. By that token, nobody should ever discuss any political/social/cultural/economic issue ever since we're all just cogs in the massive machine w/ no influence whatsoever. Everyone should be as ignorant as possible and just walk around thinking everything is great, afterall ignorance is bliss......C'mon, none of this makes much sense. If people wanna be analytical and critical about policy, that is a good thing. Infact, you've spent a considerable amount of time doing so in a different forum on this site. But I digress...
As far as this statement goes (I've been meaning to post something similar to it)
"Best of all would have been if the elites had stepped up to give something back to the country that made
it possible for them to accumulate their wealth. The top 1 percent have a combined worth of $25 trillion."
This is gonna sound like an argument a leftist would make but the ruling class that has been able to profit off the explosion of paper wealth over the last 40 years should absolutely contribute at this time of hardship for so many.
VISA/MasterCard/Discover have been printing money on the explosion in consumer debt, they should take a haircut (fill in your own corporation that can logically give back for the greater good here)..Would it kill them to freeze interest payments for 3-6 months?
Would it kill the big P/E companies that have bought up so much real estate in this country to freeze rents? Or amazon/costco/walmart/target to sell essential items at cost? etc etc
Now in America, the answer is probably yeah it would. But that is why other countries can deal with this better than we can.
As far as this statement goes (I've been meaning to post something similar to it)
"Best of all would have been if the elites had stepped up to give something back to the country that made
it possible for them to accumulate their wealth. The top 1 percent have a combined worth of $25 trillion."
This is gonna sound like an argument a leftist would make but the ruling class that has been able to profit off the explosion of paper wealth over the last 40 years should absolutely contribute at this time of hardship for so many.
VISA/MasterCard/Discover have been printing money on the explosion in consumer debt, they should take a haircut (fill in your own corporation that can logically give back for the greater good here)..Would it kill them to freeze interest payments for 3-6 months?
Would it kill the big P/E companies that have bought up so much real estate in this country to freeze rents? Or amazon/costco/walmart/target to sell essential items at cost? etc etc
Now in America, the answer is probably yeah it would. But that is why other countries can deal with this better than we can.
Discussing on a forum is like Barr investigating the usual suspects. It takes up his
time and accomplishes nothing.
I come on here because I'm addicted to it. Why? Who the fuck knows. I just am.
And because I see the same people day in and day on here out I suspect they're addicted also.
I do learn a thing or 2 from time to time but mostly it's just to socialize. I don't get out much.
Or maybe my life is so fucking boring and I have nothing better to do.
I don't pay much attention to someone else's opinion unless it's the same as mine.
You see I know it all and so does everyone else. Funny how that works.
One cool thing is I've got to meet about 6 posters on here. Some wives and family too.
All of which I've enjoyed their company. It's interesting to put a face on someone.
So I guess it isn't a complete waste of my time.
Anywho, for better or worse I'll be here tomorrow, same time same place.
