U.S. Dollar Is Being Systematically Destroyed, And We Are On A Path That Inevitably Leads To Hyperinflation

[Strokey_McDingDong]

My undergrad is a double major in chemistry and physics and now I have a job that has god damn nothing to do with any of that shit but it pays the bills omg am I part of the super cool kids club now?

[adav8s28]

Originally Posted by Grace Preston

This is because the stimulus packages are NEVER about actually helping the bottom rungs of society. Its a statistical fact that when you give people with high incomes... extra money... they tend to save it. When you give lower income people an infusion of cash-- they spend it.

If your taxable gross income on your 2019 tax return was > $75,000 you don't get the $1200 stimulus check. So, high income people were not getting the first stimulus check.

[adav8s28]

Originally Posted by Tiny

No, It has to do with politics. Donald Trump and Nancy Pelosi wanted to throw a ton of money at this, a good part of which would be wasted. They viewed this as a way to buy votes and get more campaign contributions. Senate Republicans were more responsible, they wouldn't pass the bill.

Agreed. Pelosi and McConnell could not agree on a final number. That is why a second stimulus bill has not been passed so far. One may get passed before congress goes on their break. There are some republicans who want to get something done. Pelosi is not going to get everything she wants.

[dilbert firestorm]

Originally Posted by adav8s28

Agreed. Pelosi and McConnell could not agree on a final number. That is why a second stimulus bill has not been passed so far. One may get passed before congress goes on their break. There are some republicans who want to get something done. Pelosi is not going to get everything she wants.

problem is she wants fries on everything

[pfunkdenver]

Originally Posted by winn dixie

b/s from a guy that asks "would you like fries with that"?

I notice you didn't take him up on the bet. Coward.

[Lucas McCain]

Originally Posted by pfunkdenver

I notice you didn't take him up on the bet. Coward.

Nobody does with anyone. It's just shit talking. I've been begging for $100K bets. All I want is an easy $100K. I'm not 6'4" cool, let's put money on that. I'm not Ivy League educated, cool, let's put money on it. I can easily prove everything but I just want a $100K to do so and then I'm a ghost who disables his account.

Basically, can someone meet me who says I'm lying about anything so I can disable my account and go home with $100K of your money? Let's face reality, this board does not have that much more of a shelf life left so I prefer sooner then later.

[winn dixie]

b/s bet by b/s poster!

[Chung Tran]

We had this deficits debate before, and only one guy here agreed with me.. Friendly fred, God rest his friendly banned body, while he seeks out thin Asian girls until his return.

I'll try to be somewhat brief. First of all, this ''the economy is about to collapse under the weight of overwhelming deficits'', has been said over and over, since at least 1977. Sure, the University textbooks were in agreement, but they have been proven wrong. The World was trying to recover from Arab oil embargoes, that DID cause inflation. It was not deficit-spending, or money printing that caused the inflation.

World's currency? Yes, but the argument that IF the dollar becomes anathema to currency traders, we are in trouble, is weak. There has basically been no let up in demand, and other world currencies are deliberately devalued relative to the dollar. that argument is as useful as Chicken Little.

Why did deficits and money printing spike higher this year? to stabilize a collapsing economy, obviously. The posted article says ''if'' we continue this path, look for hyper inflation. No shit. But we aren't, and won't. When economic capacity is under-utilized, increased money supply/velocity is the tonic, the cure. Keynesian economics. All civilized countries use Keynesian models to economic success. In 2019 the economy was good, no need to print money to stimulate. We didn't, but if we printed money at 2020 levels, yes, there would be significant inflation.

You can play the what-if? game all day, but the US is not heading for significant inflation. Mild inflation? Sure. Keynes himself showed that an economy with 2-4% inflation is a Goldilocks economy.

[lustylad]

Originally Posted by Lucas McCain

I've been begging for $100K bets. All I want is an easy $100K. I'm not 6'4" cool, let's put money on that. I'm not Ivy League educated, cool, let's put money on it. I can easily prove everything but I just want a $100K to do so and then I'm a ghost who disables his account.

Basically, can someone meet me who says I'm lying about anything so I can disable my account and go home with $100K of your money?

Awww... is Mucus McLame at it AGAIN? Un-fucking-believable!

How many times does this East Bumfuck Community College dropout need to be bitch-slapped before he is shamed into choking on his own stream of boring, repetitive and risible lies?

Get some new material, you pathetic loser!

My hand hurts from bitch-slapping your ugly mug! You're not begging for a real bet, you're just begging to be bitch-slapped again!

In case anyone forgot:

https://eccie.net/showpost.php?p=106...9&postcount=35

[lustylad]

Originally Posted by Lucas McCain

I could go sit with a bunch of C-Suites tomorrow and tell them how to increase their price per share. And yep, they will pay me in two seconds to do just that. That's not me bragging. That's just me telling the fucking truth.

Give us a fucking break, Mucus!

The only board room you ever saw the inside of was the one for your parole board hearing!

[lustylad]

Originally Posted by Chung Tran

We had this deficits debate before, and only one guy here agreed with me.. Friendly fred, God rest his friendly banned body, while he seeks out thin Asian girls until his return.

I'll try to be somewhat brief. First of all, this ''the economy is about to collapse under the weight of overwhelming deficits'', has been said over and over, since at least 1977. Sure, the University textbooks were in agreement, but they have been proven wrong. The World was trying to recover from Arab oil embargoes, that DID cause inflation. It was not deficit-spending, or money printing that caused the inflation.

World's currency? Yes, but the argument that IF the dollar becomes anathema to currency traders, we are in trouble, is weak. There has basically been no let up in demand, and other world currencies are deliberately devalued relative to the dollar. that argument is as useful as Chicken Little.

Why did deficits and money printing spike higher this year? to stabilize a collapsing economy, obviously. The posted article says ''if'' we continue this path, look for hyper inflation. No shit. But we aren't, and won't. When economic capacity is under-utilized, increased money supply/velocity is the tonic, the cure. Keynesian economics. All civilized countries use Keynesian models to economic success. In 2019 the economy was good, no need to print money to stimulate. We didn't, but if we printed money at 2020 levels, yes, there would be significant inflation.

You can play the what-if? game all day, but the US is not heading for significant inflation. Mild inflation? Sure. Keynes himself showed that an economy with 2-4% inflation is a Goldilocks economy.

It's obvious you know nothing about Keynes. But hey, prove me wrong! Cite exactly where Lord Keynes wrote anything saying "2-4% inflation is a Goldilocks economy". I'll wait.

[lustylad]

Originally Posted by Grace Preston

Its a statistical fact that when you give people with high incomes... extra money... they tend to save it. When you give lower income people an infusion of cash-- they spend it.

Your point is valid, but I wouldn't call it a "statistical fact". Better to say the empirical evidence suggests one's marginal propensity to consume tends to decline as income rises.

Originally Posted by Grace Preston

Right now-- they are in no hurry to pass further stimulus packages because the stock market is doing fabulous.

Sort of... but I'm not sure you get why. It's not because the stock market is making investors rich. It's because the market is a good harbinger of how the economy is likely to perform 3-6 months from now. The market is telling policy makers more stimulus may not be needed.

Originally Posted by Grace Preston

They don't care that there are people who will be getting evicted with the haste as soon as eviction moratoriums are lifted. In fact, that's an even bigger reason to avoid further stimulus-- those who normally blow it on consumer goods will likely spend it on bills instead-- in order to stay afloat. Which.... defeats the purpose of a stimulus.

Not necessarily. Even if people use some of their stimulus money to pay down outstanding bills, that still frees up spending power for future consumption.

[lustylad]

Originally Posted by HedonistForever

Naw, that was Paul Krugman, the Noble prize winning Economist, that said the market's would collapse and never come back if Trump was elected. Krugman now prays and gives thanks to the God of Covid.

Has it really been 4 years since the Krugtron forecast a trump-provoked global collapse? Daayyuumm! Time flies!

https://eccie.net/showpost.php?p=106...7&postcount=47

[adav8s28]

Originally Posted by HedonistForever

Naw, that was Paul Krugman, the Noble prize winning Economist, that said the market's would collapse and never come back if Trump was elected. Krugman now prays and gives thanks to the God of Covid.

Cheney said "Deficits don't matter" in 2002 to then treasury secretary P. O'neill. You are mistaken.

https://archive.thinkprogress.org/si...-40193bdadd2e/

[Yssup Rider]

Originally Posted by winn dixie

b/s bet by b/s poster!

Don’t you mean b/s/b?

HAHAHAHAHAHAHAHAH