Bit Coin: 2 bit bubble

I don't really have much to say about all of this. But I'll comment anyway. It is hard to predict inflation. I have been concerned about it since Trump tried to juice the economy with his 2017 tax cut. But that didn't have the anticipated effect. Most of the extra money, instead of causing inflation, went to pad bank accounts of the already rich. But that might set the stage for future inflation.On the other hand, the pandemic has cooled things of somewhat. And Biden's proposed tax increased might further dampen inflationary trends. So, as already said, it is hard to predict. I have been skeptical of these from the start.The basic problem is that there is nothing backing them. Ordinary dollars are backed by the good will of the American people. The only backing I see for cryptocurrencies is from hackers, crooks and other miscreants.While we are about it, I'll comment on libertarianism. Typical libertarians think that the money they have is theirs, and they shouldn't pay taxes on it. But the money is just paper. It gets it value from the good will of the American people. If the libertarians screw too much with the average American, they might lose that good will backing. And where will they be then?Money only has value as part of a community. And libertarians typically want to shun responsibilities to the community that they want to rip off.Oh, and by the way Phat, you seem to have some of those libertarian tendencies. You might want to think about that.

You are fooling yourself. Yes, you do love money. That's why you spend so much time thinking about it. It's nonsense. But the apologists use it as a threat to control. And they seem to be successful at that (at controlling you).

There's an overlap. Have you ever noticed how wealthy some of the religious people are?

I'm not sure where you get that.The Trump administration ran up the debt. In the last 40 years or so, Republicans have been running up the debt.The current administration wants to pay for the stimulus with a tax increase on the very wealthy. It is the Republicans who will block that.

Then stop voting for Republicans.The high national debt is almost entirely due to Republicans. It was part of Reagan policy, to starve the government.Obama tried to do something about the debt, but the Republicans blocked him. Biden wants to do something, but the Republicans are blocking him.

Our high school history text had a long section on Tulip Mania and on the South Sea Bubble. This was in W. Australia. I don't think we spent much time on that in class, but I remember reading it.I took it as a lesson on where Laissez Faire capitalism ends up. But it seems that nobody ever learns that lesson.

Yes history, as taught, can be quite biased.

This is what the right wing propagandists are telling you. Unfortunately, you are gullible enough to believe them.

Bullshit.You are defending the "right" of the greedy to steal from the poor. Nobody is trying to take away the incentives to get wealthy. This is mostly a right wing myth. Most of the "impoverished masses" are the working class.Yes, there are other really poor people, but there are not masses of them.You presumably count yourself as working class. Yet you consistently vote for the Republicans who want higher taxes on you so that the super-wealthy can pay less. The working stiff toils hard to earn enough to make ends meet. You want to get rich without work, by means of your gambling in silver.All we say, is that you should pay the same percentage of taxes on those capital gains as the working stiff pays on his wages. What's excessive about that?