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Author Topic:   The Giant Pool Of Money. Implications
Phat
Member
Posts: 9196
From: Denver,Colorado USA
Joined: 12-30-2003
Member Rating: 1.9


Message 226 of 254 (695081)
04-02-2013 1:51 PM
Reply to: Message 220 by jar
12-29-2011 11:26 AM


Re: A Lot Rides On This Bet
jar writes:

You do understand that if you decide to bring on the gloom and doom, those who have prepared will still not suffer?

I cant help but see all of us suffering to some extent...i suppose it depends what you mean by suffering...you likely will still have a place to live and even your inflated retirement income will keep you from starving. Far too many people, however, are totally unprepared, and Uncle Sam won't be able to help them...it will be another Great Depression scenario...except we wont have a war to bail us out this time.


This message is a reply to:
 Message 220 by jar, posted 12-29-2011 11:26 AM jar has responded

Replies to this message:
 Message 228 by jar, posted 04-02-2013 4:49 PM Phat has responded

  
Dr Adequate
Member
Posts: 15374
Joined: 07-20-2006
Member Rating: 3.3


Message 227 of 254 (695082)
04-02-2013 2:29 PM
Reply to: Message 217 by Phat
12-29-2011 6:37 AM


Re: A Lot Rides On This Bet
People like me want such a crises. [...] it would give me a small thrill to see the Wall Street insiders be wrong for once.

They were, remember? They were utterly, catastrophically wrong.

It would thrill me to see the majority of Wall Street investors get burned.

Yeah, well, that would be nice. I think burning them is excessive, but I'd sanction a few public floggings.


This message is a reply to:
 Message 217 by Phat, posted 12-29-2011 6:37 AM Phat has not yet responded

  
jar
Member
Posts: 28156
From: Texas!!
Joined: 04-20-2004
Member Rating: 2.3


Message 228 of 254 (695090)
04-02-2013 4:49 PM
Reply to: Message 226 by Phat
04-02-2013 1:51 PM


Re: A Lot Rides On This Bet
I get the feeling you would like for everyone to suffer, but sorry, the rich and powerful will mostly simply sit on the beach enjoying the sunsets.

Anyone so limited that they can only spell a word one way is severely handicapped!

This message is a reply to:
 Message 226 by Phat, posted 04-02-2013 1:51 PM Phat has responded

Replies to this message:
 Message 232 by Phat, posted 04-02-2013 11:16 PM jar has responded

  
ooh-child
Member
Posts: 180
Joined: 04-10-2009


Message 229 of 254 (695093)
04-02-2013 6:13 PM
Reply to: Message 225 by Phat
04-02-2013 1:46 PM


Re: Implications Of U.S. Economic Demise
It's articles like this one, along with the expected crowing of the right-wing punditry that always follows one of these 'think pieces', that turns my job into a temporary handholder for my terrified clients convinced their retirement accounts must be converted to gold TODAY. Ugh. Coupled with tax season, this makes me want to shake them & tell them to turn off Hannity & Levin & the rest, please - for my sake & sanity!

I always wonder when one of these assessments hits the press - who got a new contract selling gold coins on their radio/tv program? I'm guessing it's Levin this time.


This message is a reply to:
 Message 225 by Phat, posted 04-02-2013 1:46 PM Phat has acknowledged this reply

Replies to this message:
 Message 230 by Rahvin, posted 04-02-2013 6:26 PM ooh-child has responded

  
Rahvin
Member (Idle past 506 days)
Posts: 3964
Joined: 07-01-2005


(2)
Message 230 of 254 (695094)
04-02-2013 6:26 PM
Reply to: Message 229 by ooh-child
04-02-2013 6:13 PM


Re: Implications Of U.S. Economic Demise
I always wonder when one of these assessments hits the press - who got a new contract selling gold coins on their radio/tv program? I'm guessing it's Levin this time.

Don't forget Glenn Beck. He's not on TV any more, but he still has radio and streaming internet. Plenty of fiscal fearmongering to go around...and plenty of profit for all those gold coin vendors.

Always remember, folks: if a big company tells you that your money is soon to become worthless, and then wants you to give them your soon-to-be-worthless cash in exchange for their gold...they're full of shit. Confusion is your first clue that something about the story you're being sold is wrong...and if you aren't confused by a vendor's ravenous appetite for the very cash they say is about to be worthless, well, there's no helping you.


The human understanding when it has once adopted an opinion (either as being the received opinion or as being agreeable to itself) draws all things else to support and agree with it. - Francis Bacon

"There are two novels that can change a bookish fourteen-year old's life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs." - John Rogers

A world that can be explained even with bad reasons is a familiar world. But, on the other hand, in a universe suddenly divested of illusions and lights, man feels an alien, a stranger. His exile is without remedy since he is deprived of the memory of a lost home or the hope of a promised land. This divorce between man and his life, the actor and his setting, is properly the feeling of absurdity. Albert Camus

"...the pious hope that by combining numerous little turds of variously tainted data, one can obtain a valuable result; but in fact, the outcome is merely a larger than average pile of shit." - Barash, David 1995.


This message is a reply to:
 Message 229 by ooh-child, posted 04-02-2013 6:13 PM ooh-child has responded

Replies to this message:
 Message 231 by ooh-child, posted 04-02-2013 7:17 PM Rahvin has not yet responded

  
ooh-child
Member
Posts: 180
Joined: 04-10-2009


Message 231 of 254 (695096)
04-02-2013 7:17 PM
Reply to: Message 230 by Rahvin
04-02-2013 6:26 PM


Re: Implications Of U.S. Economic Demise
Oh, Glenn is a given as far as hawking gold is involved. I even believe he believes the hype, and has a basement full of coins & such. I doubt the likes of Limbaugh & co. have liquidated their stock holdings.
This message is a reply to:
 Message 230 by Rahvin, posted 04-02-2013 6:26 PM Rahvin has not yet responded

  
Phat
Member
Posts: 9196
From: Denver,Colorado USA
Joined: 12-30-2003
Member Rating: 1.9


Message 232 of 254 (695105)
04-02-2013 11:16 PM
Reply to: Message 228 by jar
04-02-2013 4:49 PM


Chicken Little and PT Barnum
I get the feeling you would like for everyone to suffer, but sorry, the rich and powerful will mostly simply sit on the beach enjoying the sunsets.
I take it you dont believe in any global catastrophes in the near future....which is logical...

PT Barnum warned us of perpetual suckers...and chicken little squawked too often... but if enough resentment builds up globally, the rich may find a revolution upsetting their beach holiday.

The way I see it, if me and my people suffer, we will make sure everyone feels the pain. Is that a bad attitude?


This message is a reply to:
 Message 228 by jar, posted 04-02-2013 4:49 PM jar has responded

Replies to this message:
 Message 233 by jar, posted 04-03-2013 8:52 AM Phat has acknowledged this reply
 Message 234 by Taq, posted 04-03-2013 3:39 PM Phat has acknowledged this reply

  
jar
Member
Posts: 28156
From: Texas!!
Joined: 04-20-2004
Member Rating: 2.3


Message 233 of 254 (695117)
04-03-2013 8:52 AM
Reply to: Message 232 by Phat
04-02-2013 11:16 PM


Re: Chicken Little and PT Barnum
Of course I believe there will be global catastrophes in the near future, one playing out right now. But I also understand that those who have prepared will get by.

The way I see it, if me and my people suffer, we will make sure everyone feels the pain. Is that a bad attitude?

It's not just bad, it's a ****** idea.


Anyone so limited that they can only spell a word one way is severely handicapped!

This message is a reply to:
 Message 232 by Phat, posted 04-02-2013 11:16 PM Phat has acknowledged this reply

  
Taq
Member
Posts: 6014
Joined: 03-06-2009
Member Rating: 3.9


(8)
Message 234 of 254 (695168)
04-03-2013 3:39 PM
Reply to: Message 232 by Phat
04-02-2013 11:16 PM


Re: Chicken Little and PT Barnum
I take it you dont believe in any global catastrophes in the near future....which is logical...

What I never understood is what good gold will do you in a global catastrophe. You can't eat it. It's actually pretty heavy, so it's hard to pack around. You can't build a shelter with it. Maybe you could make bullets out of it, or hit someone over the head with a smaller sized ingot, but that's about the best use I can find for it. At least paper money has the advantage of being lighter.

Pound for pound, I think I would invest in whiskey if the world is really going down the pooper.


This message is a reply to:
 Message 232 by Phat, posted 04-02-2013 11:16 PM Phat has acknowledged this reply

Replies to this message:
 Message 235 by ramoss, posted 04-03-2013 8:00 PM Taq has not yet responded

  
ramoss
Member
Posts: 3007
Joined: 08-11-2004
Member Rating: 4.7


(1)
Message 235 of 254 (695224)
04-03-2013 8:00 PM
Reply to: Message 234 by Taq
04-03-2013 3:39 PM


Re: Chicken Little and PT Barnum

What I never understood is what good gold will do you in a global catastrophe. You can't eat it. It's actually pretty heavy, so it's hard to pack around. You can't build a shelter with it. Maybe you could make bullets out of it, or hit someone over the head with a smaller sized ingot, but that's about the best use I can find for it. At least paper money has the advantage of being lighter.

Pound for pound, I think I would invest in whiskey if the world is really going down the pooper.

I would go with the silver myself. That is the best defense against lycanthropes and vampires.


This message is a reply to:
 Message 234 by Taq, posted 04-03-2013 3:39 PM Taq has not yet responded

Replies to this message:
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Phat
Member
Posts: 9196
From: Denver,Colorado USA
Joined: 12-30-2003
Member Rating: 1.9


Message 236 of 254 (695232)
04-03-2013 11:53 PM
Reply to: Message 235 by ramoss
04-03-2013 8:00 PM


Re: Chicken Little and PT Barnum
I would go with solar showers
This message is a reply to:
 Message 235 by ramoss, posted 04-03-2013 8:00 PM ramoss has not yet responded

  
Phat
Member
Posts: 9196
From: Denver,Colorado USA
Joined: 12-30-2003
Member Rating: 1.9


Message 237 of 254 (798916)
02-06-2017 2:15 PM
Reply to: Message 9 by jar
10-06-2010 6:11 PM


Re: Aberration Period
I wonder what the forecast for the future of money and credit is now that Trump and the progs are in power? Will they pay the bill or increase it? What does the prognosis look like?

Chance as a real force is a myth. It has no basis in reality and no place in scientific inquiry. For science and philosophy to continue to advance in knowledge, chance must be demythologized once and for all. RC Sproul
"A lie can travel half way around the world while the truth is putting on its shoes." Mark Twain "
~"If that's not sufficient for you go soak your head."~Faith
Whoever trusts in his own mind is a fool, but he who walks in wisdom will be delivered.~Proverbs 28:26

This message is a reply to:
 Message 9 by jar, posted 10-06-2010 6:11 PM jar has not yet responded

Replies to this message:
 Message 238 by PaulK, posted 02-06-2017 2:34 PM Phat has responded
 Message 242 by caffeine, posted 02-10-2017 4:34 AM Phat has acknowledged this reply

  
PaulK
Member
Posts: 12269
Joined: 01-10-2003
Member Rating: 2.6


(1)
Message 238 of 254 (798920)
02-06-2017 2:34 PM
Reply to: Message 237 by Phat
02-06-2017 2:15 PM


Re: Aberration Period
My prediction is that the National Debt under Trump will be YUGE! The biggest ever!
This message is a reply to:
 Message 237 by Phat, posted 02-06-2017 2:15 PM Phat has responded

Replies to this message:
 Message 239 by Phat, posted 02-09-2017 3:04 AM PaulK has responded

    
Phat
Member
Posts: 9196
From: Denver,Colorado USA
Joined: 12-30-2003
Member Rating: 1.9


Message 239 of 254 (799304)
02-09-2017 3:04 AM
Reply to: Message 238 by PaulK
02-06-2017 2:34 PM


Re: Aberration Period
I have heard that once the other major powers trade in any means besides dollars,up to ten trillion dollars will flood our economy and cause extreme inflation.

I also heard that plans are already being discussed to replace the dollar. Could this be after a major correction? I know i would be very angry if most of our money was devalued. You don't piss the most powerful military on earth off by bankrupting their economy!


Chance as a real force is a myth. It has no basis in reality and no place in scientific inquiry. For science and philosophy to continue to advance in knowledge, chance must be demythologized once and for all. RC Sproul
"A lie can travel half way around the world while the truth is putting on its shoes." Mark Twain "
~"If that's not sufficient for you go soak your head."~Faith
Whoever trusts in his own mind is a fool, but he who walks in wisdom will be delivered.~Proverbs 28:26

This message is a reply to:
 Message 238 by PaulK, posted 02-06-2017 2:34 PM PaulK has responded

Replies to this message:
 Message 240 by PaulK, posted 02-09-2017 3:31 AM Phat has not yet responded

  
PaulK
Member
Posts: 12269
Joined: 01-10-2003
Member Rating: 2.6


Message 240 of 254 (799307)
02-09-2017 3:31 AM
Reply to: Message 239 by Phat
02-09-2017 3:04 AM


Re: Aberration Period
If demand for the dollar dropped then the dollar would be devalued. Making imports more expensive (and exports cheaper). A mild devaluation might actually be good, after the initial pain (if you want companies to make more things in the U.S. instead of bringing them in from abroad it would help that, without starting a trade war over tariffs)

I don't believe that there are any definite plans to replace the dollar as an international reserve currency.

Of course if Trump does something crazy - like default on debt repayments - who knows what will happen. (Not saying that he will, but can we be sure he won't?)


This message is a reply to:
 Message 239 by Phat, posted 02-09-2017 3:04 AM Phat has not yet responded

    
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