Originally posted by Gideon
Sorry, I'm a graduate of Hewhoknowsall's Academy for The Preservation Of Unsupported Claims. I do not have to prove it.
LOL
Actually, I do support more or less all of my claims. It's debatable whether or not they are right, but in the Empire vs Earth thread about 80% through everybody else just gave up arguing with logic because "they were tired of my idiocy" coincidentally right when I made my STRONGEST points.
Originally posted by Dr McBeefingtonThis is the case for at least a dozen people I know who have studied philosophy. All of 'em egotistical and opinionated with self esteem issues.
There's a reason I found my philosophy classes nothing more than mental masturbation for people who want others to think they're intelligent..
Originally posted by Lord Lucien
This is the case for at least a dozen people I know who have studied philosophy. All of 'em egotistical and opinionated with self esteem issues.
As it goes for most philosophy courses. Mental masturbation works for socially inept people. They stick to their own "social" circle, and I use the term "social" loosely.
For those of you wondering what is going on since this crisis began in 2001(and really after Nixon abandoned the Gold Standard in 1971), here are two things you should look at. The first is called Jim's Formula and is also the formula for Gold, as it goes up against paper currency.
1. First interest rates rise affecting the drivers of the economy, housing, but before that auto production goes from bull to a bear markets.
2. This impacts many other industries and the jobs report. An economy is either rising at a rising rate or business activity is falling at an increasing rate. That is economic law 101. There is no such thing in any market as a Plateau of Prosperity or Cinderella - Goldilocks situations.
3. We have witnessed the Stock Markets rise on economic news indicating deceleration of activity. This continues until major corporations announced poor earnings, making the markets fall faster than it rose, moving it deeply into the red. (November 2008)
4. The formula economically is inherent in #2, which is lower economic activity equals lower profits.
5. Lower profits leads to lower National/Federal Tax revenues.
6. Lower Federal tax revenues in the face of increased National/Federal spending causes geometric, not arithmetic, rises in the National/ Federal Budget deficit. This is also true for cities.
7. The increased Budget deficits in the face of the Trade Deficit increases the Current Account Deficit. Dramatic for the USA and Spain.
8. The Current Account Balance is the speedometer of the money exiting a country into world markets (deficit).
9. It is this deficit that must be met by incoming investment in any form. It could be anything from businesses, equities to Treasury instruments. We are already seeing a fall off in the situation of developing nations carrying the spending habits of industrial nations; a contradiction in terms.
10. If the investment by non domestic entities fails to meet the exiting dollars, euros,… by all means, then this specific country must turn within to finance the shortfall.
11. As the action under #10 starts to become reality, and a country turns inside to finance all maturities, interest rates will rise with the long term rates moving fastest regardless of prevailing business conditions.
12. This will further contract business activity and start a downward spiral of unparalleled dimension because the size of for example the US debt already issued is of unparalleled dimension.
Therefore as you get to #12 you are automatically right back at #1. This is an economic downward spiral.
This next thing is what I thought was happening and is going to happen, but it is already a theory apparently. It's called the Ka-Poom theory.
# National currencies are primarily valued by the relative economic strength among trading partners with floating currencies, except for the U.S. dollar.
# A major component of dollar strength is the unique demand for dollars due to the dollar's reserve currency status.
# Dollar demand and thus price is supported by all nations trading with the U.S. and among each other as all need dollars for international exchange, especially for oil.
# If dollar reserve currency status declines, either gradually via euro diversification or suddenly due to an event that causes a loss in confidence in the future purchasing power of the dollar, dollar demand and value declines in kind.
# U.S. interest rates are low mostly due to demand for U.S. debt, denominated in dollars, from foreign central banks of nations, especially Asian, that seek to keep U.S. consumers borrowing at low interest rates to purchase their exports using strong dollars; Asian "vendor financing".
# Ka: A random exogenous event (e.g., a stock market crash predicted in 1999 for year 2000 and recession predicted for 2001) intensifies disinflation created by Asian vendor financing, causing the Fed to shift from bubble fighting to anti-deflation polices.
# Fed responds with an excessive cheap money policy, targeting short term rates below the inflation rate.
# The Fed keeps interest rates too low for too long, creating a new asset bubble. But in what? We did not know in 1999. The answer: real estate.
# Poom: A random or not so random exogenous event that has not yet happened (the stock market crash we predicted for 2000 did not have the impact we expected) exposes the true level of risk to lenders that is inherent in this unbalanced system, causing lenders to lose confidence in the future purchasing power of the dollar and seek alternative reserve assets.
# Interest rates and inflation rise rapidly as dollar demand and value falls, import prices rise, and the Fed moves to raise rates to stem the tide or dollar repatriation.
# The first foreign central banks to move will be those with the least exposure to losses in national income from sales of exports to the U.S. or depreciation in the value of the dollars they are holding as reserve assets (e.g., France).
# Not surprisingly, the Fed disagrees: "To sum up, this analysis suggests that there is more to solving the conundrum of the recent low long-term interest rates than pointing to the behavior of official foreign purchases of U.S. Treasury securities. Indeed, there is little solid evidence suggesting a persistent relationship between the two. Furthermore, the structure of the Treasury market does not support the projection of a rapid rate hike in the event that foreign central banks retreat from the U.S. Treasury market." The Long-term Interest Rate Conundrum: Not Unraveled Yet?
# The assertion of no persistent relationship exists between low interest rates and foreign purchases of U.S. Treasury securities contradicts the fact that Central Bank reserve diversification spooks currency traders, and will drive the dollar down, which is in fact finally causing U.S. inflation and interest rates to rise.
# The Fed continues to raise rates, but not to fight inflation caused by economic overheating. The Fed needs to demonstrate anti-inflation vigilance to foreign lenders so they will continue to fuel the foreign capital addicted U.S. speculative financial system, but raises rates at the risk of throwing the real economy into recession. Unfortunately, it’s a lose-lose proposition. Eventually the hikes, either too many or too few -- the Fed never gets it right -- will produce either a enough recession or inflation to spook foreign investors and start the Poom ball rolling.
# The mechanism of Ka-Poom Theory proposed in 1999 appears happening, albeit later than we predicted, and slowly versus suddenly. At least so far.
# The resulting inflation is an event 25 years in the making, and will be historic in its extent.
I think it is funny that in town-hall meeting after town-hall meeting, the people have shouted down the politicians, and said 'We don't want your healthcare" and yet you see them treat it like a coordinated effort to disrupt the proceedings.
Its not coordinated, though i'm sure that thought helps liberals sleep better at night. People are angry, and rightfully so. There should be no public health care if Congress and the Senate, and the Executive branch doesn't have to use the same health care. That's a no-brainer.
Originally posted by truejedi
I think it is funny that in town-hall meeting after town-hall meeting, the people have shouted down the politicians, and said 'We don't want your healthcare" and yet you see them treat it like a coordinated effort to disrupt the proceedings.Its not coordinated, though i'm sure that thought helps liberals sleep better at night. People are angry, and rightfully so. There should be no public health care if Congress and the Senate, and the Executive branch doesn't have to use the same health care. That's a no-brainer.
Couldn't have said it better. On the one hand, I want everyone to have healthcare. On the other hand, it's unsustainable because our government and consumers have destroyed our economy the past 30 years by spending money they don't have, or as it is called, "spending on the future to the point where nobody has money in the present."
Again, if it was sustainable, then maybe. Obama seriously is an idiot.
Originally posted by SIDIOUS 66It's not like I'm an ignorant child, I just don't care too much about Obama's healthcare plans for America because it's not Canada. Though it shall be fun to watch the outcome of his endeavor.
I'm not trying to sound rude. It's just everyone seems to be talking about different things, like Gideon being a cigar, and Eminence's post count.