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so can we have our Stimulas Check Number2 now?
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2020-11-08 at 11:48 PM UTC
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2020-11-08 at 11:53 PM UTC
Originally posted by Bugz Me?
I never once collected Welfare nor Foodstamps in my life. this is a stimulus fund. even rich-big cats got money to pay for their companies on idle time during the rona
This was reserve money saved for decades for a day like this. nothing to do with your higher income paying for my rent. this aint Section 8, Nigga
Yea, you. And there is no “reserve” money that they’ve been saving up just for us, literally all they did was add a bunch of zeroes to a bank account at the Federal Reserve and then fired up the printing presses. The money didn’t exist before that point. The US has no reserve money we are in debt over 25 trillion dollars with the deficit increasing every year for at least the last 7 years -
2020-11-08 at 11:55 PM UTCThe following users say it would be alright if the author of this post didn't die in a fire!
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2020-11-08 at 11:57 PM UTC
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2020-11-09 at 12:27 AM UTC
Originally posted by Fox Yea, you. And there is no “reserve” money that they’ve been saving up just for us, literally all they did was add a bunch of zeroes to a bank account at the Federal Reserve and then fired up the printing presses. The money didn’t exist before that point. The US has no reserve money we are in debt over 25 trillion dollars with the deficit increasing every year for at least the last 7 years
You have a very small understanding of macro economics. This is literally how every country in the world operates. The Federal Reserve is where they keep the gold that backs the power of our currency. And yes, the dollar is still BACKED by gold. What it isn't, is based on gold. This is basically just to signal that we have wealth. It's not a translation to how many dollars we have and has not been for nearly 100 years. This is how most countries work. Their wealth doesn't come from 'having money', it comes from the management of resources. Only very poor, very small countries have a bank account in the way you're thinking the US is supposed to have.
The debt doesn't mean we have no money. Many countries with great economies have higher GDP/debt ratio than we do. Like Japan and Belgium. Other countries with a high GDP/debt ratio are pretty poor off. Like Greece, or Bhutan. This is not a debt that needs to be paid off. It's a debt that should ebb and flow with the economy, and is no kind of metric to how good or bad things actually are in that country. Doesn't mean shit for the average American. This is not like paying your bills. The idea is to create fluidity
Other nations owe us a similar but slightly smaller amount. Many of them are nations that we owe money to. China and the US for example both owe each other money. That doesn't mean it needs to be paid off. It's not like paying your bills. The idea is to create fluidity and improve both economies. The debt doesn't really mean jack shit for the average American. It's more akin to GDP growth in that it is a metric of resource management. Having a large debt is good as long as you have fluidity, which the US does. Greece for example, does not.
The best argument against high debt I think is that it decreases stability. The flow has to continue or your economy will suffer, and if can't be ensured for whatever reason you get fucked. This is part of the reason that the CCP opened up China around the same time that the soviet union fell. They were combating the problem of both of their economies suffering and did not owe/have debt with the West like they do today. This is the same reason why sanctions can be so damn catastrophic. You can try isolationism but it's pretty hard to get right and you usually end up with North Korea. Closing off economies does not work, and that's what the national debt is. It's the model our economy is based upon, not a problem to be solved. Mostly its used as an inflammatory political term to be used against your opposing party of choice. -
2020-11-09 at 12:33 AM UTChttps://en.m.wikipedia.org/wiki/Gold_standard#Abandonment_of_the_gold_standard
https://en.m.wikipedia.org/wiki/Fiat_money
The entire US gold reserve is worth about half a trillion dollars that doesn’t even cover 1 year deficit.
Get rekt moron -
2020-11-09 at 12:35 AM UTCThe initial point was Fox blame me and other as being a welfare recipient and he is the big Money maker among us and that this stimulus somehow came only out of his working dollars and no one else on this website or anywhere else.
that is why I responded. It didn't really matter that more was added to the ceiling of debt, not solely responsible of Trump. Obama added to it, Bush raped the shit out of it with his way of making contract deals in the billions for his friend as well as Dick Cheney -
2020-11-09 at 12:37 AM UTC
Originally posted by Bugz The initial point was Fox blame me and other as being a welfare recipient and he is the big Money maker among us and that this stimulus somehow came only out of his working dollars and no one else on this website or anywhere else.
that is why I responded. It didn't really matter that more was added to the ceiling of debt, not solely responsible of Trump. Obama added to it, Bush raped the shit out of it with his way of making contract deals in the billions for his friend as well as Dick Cheney
Hey whoooooaaaa I’m not a “big money maker”. Go after Amazon and Apple before you go after my money you greedy lil communist -
2020-11-09 at 12:53 AM UTC
Originally posted by Fox Hey whoooooaaaa I’m not a “big money maker”. Go after Amazon and Apple before you go after my money you greedy lil communist
I'm not a communist. I am a poor worker who is considered self employed as a contractor for fleet companies
I have worked office jobs in a cubical for over a decade in credit-sales and credit card support working out of a corporate office for several large banks (which I wont mention- one recently got into big big trouble)
I also worked in ATM security ad monitoring of ATM machines. same office, different building.
I've done lots of different work like underground and lineman work. but this is the most kick back job that was paying bills. I'm really upset how much the fairs have reduced and the new pay promises clearly not kicked in yet.
In my 50s. I don't have a need for a standard house and spending the rest of my life paying it off unless I become well paid. i dont need a big home. 2bed 2 bath in case i have company. maybe 3 bedrooms 2 baths. but having a full size house is a bitch to clean. especially anything over 1400sq ft.
I don't live in California because it's "Where the tech jobs are or the nice weather". I grew up here. I would n doubt feel like a fish out of water if I lived in the midwest. I live here because I feel at home here. but it's become an international area for people with money all over the world buying into. few people I grew up with live out in this area. most Californians are moving to Idaho or Arizona and even Austin (specific part of Texas)The following users say it would be alright if the author of this post didn't die in a fire! -
2020-11-09 at 12:58 AM UTCYou worked for Wells Fargo didn’t you
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2020-11-09 at 1 AM UTCWells Fargo's investment strategy is literally "too big to fail" AKA Long tail reinvestment profitability.
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2020-11-09 at 1:13 AM UTC
Originally posted by Fox https://en.m.wikipedia.org/wiki/Gold_standard#Abandonment_of_the_gold_standard
https://en.m.wikipedia.org/wiki/Fiat_money
The entire US gold reserve is worth about half a trillion dollars that doesn’t even cover 1 year deficit.
Get rekt moron
Yep. You don't know what you're talking about. Gold standard is not the same as gold backed. That's why I specifically said so in my post.
You are posting highschool tier comments right now.
https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.aeaweb.org/aer/top20/55.5.1126-1150.pdf&ved=2ahUKEwjdoLPao_TsAhV1q3IEHXl1DKUQFjAAegQIARAB&usg=AOvVaw2vhczibpqcuzL928UJSWy3
Try starting here. It might educate you on why debt is essential to a modern economy, and why your idea of a big American bank account is just totally false. I can tell you've never taken a macro economics or global economics class in your life.The following users say it would be alright if the author of this post didn't die in a fire! -
2020-11-09 at 1:44 AM UTCI never said we should have no debt, but anybody who thinks we should just keep increasing the national debt in increasingly higher amounts every year, never pay any of it off, keep printing money, and there will never be any negative consequences from this, is probably a delusional socialist like you.
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2020-11-09 at 1:59 AM UTCWe actually had this same sort of discussion before where you were denying that the last stimulus package was created from thin air and I showed you a transcript from an actual interview with the head of the US Federal Reserve Bank of Minneapolis literally on the record saying yes we just created the money electronically from thin air and then the Treasury Department printed it out.
Your response was essentially lol that guy works for the Federal Reserve not the Treasury lmao. Which had nothing to do with the FACTS of what he was saying, and by the way the same guy also used to be Assistant Secretary at the Treasury Department too so he probably knows what he’s talking about here.
I don’t need a pretend degree in economics from the university of Google to understand plain english -
2020-11-09 at 2 AM UTC
Originally posted by Fox I never said we should have no debt, but anybody who thinks we should just keep increasing the national debt in increasingly higher amounts every year, never pay any of it off, keep printing money, and there will never be any negative consequences from this, is probably a delusional socialist like you.
Doesn't understand the concept of good debt^
If I can borrow at 5% and lend at 10%, that is free money for me. Same way if the US govt can finance debt to stimulate more growth than the debt is worth, it is a win. The US continues its virtually spotless record of servicing its debt and continues to grow, though slowed by the Chump considerably, still as the most powerful and unstoppable economic engine in the history of human endeavour.
Keep crying doomer. Train America Express is picking up more and more steam as we speak and we are back on track as the greatest nation of all time, and will continue to do so because every round of arithmetic stimulus factorially grows our insanely huge economy
The following users say it would be alright if the author of this post didn't die in a fire! -
2020-11-09 at 2:07 AM UTC
Originally posted by Fox I never said we should have no debt, but anybody who thinks we should just keep increasing the national debt in increasingly higher amounts every year, never pay any of it off, keep printing money, and there will never be any negative consequences from this, is probably a delusional socialist like you.
Jesus Christ you are uneducated.
The national debt grows with our GDP. Debt/GDP ratio is a far better determination of how much debt we accumulate. Like I already explained to you.
And we do pay off the debt you retard. It's not just a stagnant growing number. We are constantly working towards paying the debt. What we aren't doing is working to pay off the debt. If America really wanted to we could pay it off now by simply "printing money" as you say, but other nations would get pissed as fuck because it would wreck the world economy and probably send us into a massive worldwide depression.
I don't know what you think this has to do with socialism whatsoever. I bet you can't explain it either. When Republicans are in office, Democrats bitch about the national debt. When Democrats are in office, the Republicans bitch about it. They're both idiots. Other nations have debt but their politicians don't talk about it because it isn't an issue and/or they aren't trying to dick measure in some retarded two party system.
Also I just want to mention again that your idea of what the federal reserve is, is just totally fucking stupid. America does not have some central bank account where it keeps all its money. The debt is not high because we have mismanaged our money and can't pay our bills. It's high because we have the largest economy in the world. That is all it means.
I supplied you with quality literature to educate yourself with. If you can't bother to take an interest in your OWN education, I can't help you any further. You can go the rest of your life thinking the national debt is some big bad bear. I don't give a fuck. If you want to get swayed by propaganda, that's your prerogative. -
2020-11-09 at 2:08 AM UTC
Originally posted by Fox We actually had this same sort of discussion before where you were denying that the last stimulus package was created from thin air and I showed you a transcript from an actual interview with the head of the US Federal Reserve Bank of Minneapolis literally on the record saying yes we just created the money electronically from thin air and then the Treasury Department printed it out.
Your response was essentially lol that guy works for the Federal Reserve not the Treasury lmao. Which had nothing to do with the FACTS of what he was saying, and by the way the same guy also used to be Assistant Secretary at the Treasury Department too so he probably knows what he’s talking about here.
I don’t need a pretend degree in economics from the university of Google to understand plain english
I don't remember that at all. I was probably just fucking with you. If you had a brain you'd have realized it. But you don't
Also lol @ a degree in economics. This is not hard stuff dude. Like, I just took the class to fill a requirement for my associates degree. If you read what I linked, you would understand it too. -
2020-11-09 at 2:15 AM UTCI donate my stimulas checks to the trump reelection fund
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2020-11-09 at 2:16 AM UTC
Originally posted by ORACLE Doesn't understand the concept of good debt^
If I can borrow at 5% and lend at 10%, that is free money for me. Same way if the US govt can finance debt to stimulate more growth than the debt is worth, it is a win. The US continues its virtually spotless record of servicing its debt and continues to grow, though slowed by the Chump considerably, still as the most powerful and unstoppable economic engine in the history of human endeavour.
Keep crying doomer. Train America Express is picking up more and more steam as we speak and we are back on track as the greatest nation of all time, and will continue to do so because every round of arithmetic stimulus factorially grows our insanely huge economy
You’re right let’s just give every American citizen in the country $2000 a week forever. In fact let’s give them $3000 a week. Increase it every year. The more we give away for free the more exponential our economic growth will be! Eventually we will all be quadrillionaires!
Originally posted by MexicanMasterRace Jesus Christ you are uneducated.
The national debt grows with our GDP. Debt/GDP ratio is a far better determination of how much debt we accumulate. Like I already explained to you.
So is it a good thing that the debt to GDP ratio has been near or exceeding 100% for the last 12 years? With this year being the highest ever? -
2020-11-09 at 2:18 AM UTC
Originally posted by MexicanMasterRace I don't remember that at all. I was probably just fucking with you. If you had a brain you'd have realized it. But you don't
Also lol @ a degree in economics. This is not hard stuff dude. Like, I just took the class to fill a requirement for my associates degree. If you read what I linked, you would understand it too.
No you were serious and I said a pretend degree which is what you have.
