Understanding through Discussion


Welcome! You are not logged in. [ Login ]
EvC Forum active members: 68 (9048 total)
168 online now:
Coragyps, kjsimons, nwr, Tanypteryx (4 members, 164 visitors)
Newest Member: Wes johnson
Upcoming Birthdays: Astrophile
Post Volume: Total: 887,585 Year: 5,231/14,102 Month: 152/677 Week: 11/26 Day: 11/2 Hour: 0/2


Thread  Details

Email This Thread
Newer Topic | Older Topic
  
Author Topic:   Phat Unplugged
PaulK
Member
Posts: 17007
Joined: 01-10-2003
Member Rating: 2.6


Message 79 of 119 (888653)
09-26-2021 4:25 AM
Reply to: Message 78 by Phat
09-26-2021 2:51 AM


Re: jar manipulates and attempts to frame arguments
quote:
I'm talking about my predictions for global finance and how you ignorantly mock them.

Given that your understanding of economics doesn’t even include the basics of supply-and-demand your doomsaying doesn’t seem very credible without evidence. Which you don’t have.


This message is a reply to:
 Message 78 by Phat, posted 09-26-2021 2:51 AM Phat has not yet responded

  
PaulK
Member
Posts: 17007
Joined: 01-10-2003
Member Rating: 2.6


(2)
Message 86 of 119 (888662)
09-26-2021 11:08 AM
Reply to: Message 83 by Phat
09-26-2021 10:37 AM


Re: jar manipulates and attempts to frame arguments
quote:
You bring up a point I want to emphasize. The problem of the debt is not due to any one political party or ideology. An argument can easily be made that the debt was raised over the years under the administrations of both Democrats and republicans. Debt is debt...whether it be from a tax cut or a stimulus.

Failing to distinguish between correct management and mismanagement is a problem. When the economy is in trouble it is widely accepted that extra borrowing is necessary. When the economy is in good health the debt should be paid down. Debt taken on solely to maintain spending while reducing income is folly. That last point is one conservatives should agree with (Margaret Thatcher did!). It seems that many Republicans do not.

So, yes there are distinctions related to how the money raised is spent and they are important.


This message is a reply to:
 Message 83 by Phat, posted 09-26-2021 10:37 AM Phat has not yet responded

  
PaulK
Member
Posts: 17007
Joined: 01-10-2003
Member Rating: 2.6


Message 101 of 119 (888704)
09-29-2021 9:32 AM
Reply to: Message 99 by Phat
09-29-2021 7:21 AM


Re: Production Backs The Dollar
quote:
Of course, it was sarcastic. Sometimes you guys insult me by imagining yourselves far smarter than I. I may correct you on that 300 billion servicing figure. It is now twice that, based on 9%. The latest figure was 2020 and it was over 500 billion.

I don’t know how you get “based on 9%”. The 2021 figure is over $520 billion dollars but that’s about 2% of the debt.

I don’t know where you got the 300 billion figure you’re objecting to either (I can’t see it in this thread).

quote:
And the problem with the dollar being backed by production is that the US is not an efficient producer anymore. We have a financial system driven upwards as of late only through artificially infused stimulus.

COVID has affected everyone, so I think you need to exclude stimulus to counter that.

quote:
…. I wonder if any of you know or care that the human productive backing of goods and services will not help us if the dollar becomes global

This doesn’t make sense. What does it mean for the dollar to “become global”? Why would it affect the backing from the US economy?

quote:
....nor will it help us if any other currency takes its place.

I don’t see why that would be true, either. The backing would remain. Demand for dollars might fall, and with it the international value, but there’s a negative feedback there. US production would become cheaper on an international scale.

quote:
I hope that I am not coming across as too delusional.

What you are saying doesn’t seem to make a lot of sense.


This message is a reply to:
 Message 99 by Phat, posted 09-29-2021 7:21 AM Phat has acknowledged this reply

  
PaulK
Member
Posts: 17007
Joined: 01-10-2003
Member Rating: 2.6


Message 103 of 119 (888711)
09-29-2021 12:58 PM
Reply to: Message 102 by Percy
09-29-2021 12:45 PM


Re: Production Backs The Dollar
There seems to be some confusion over figures. The Treasury reports a figure of $524,706,646,051.90 in interest payments for FY 2021
Interest Expense on the Debt Outstanding (treasurydirect.gov)

That’s a little higher than the 2020 figure, but noticeably lower than 2019.

Edited by Admin, : Fix link.


This message is a reply to:
 Message 102 by Percy, posted 09-29-2021 12:45 PM Percy has responded

Replies to this message:
 Message 104 by Percy, posted 09-29-2021 1:21 PM PaulK has responded
 Message 105 by Percy, posted 09-29-2021 1:46 PM PaulK has not yet responded

  
PaulK
Member
Posts: 17007
Joined: 01-10-2003
Member Rating: 2.6


Message 106 of 119 (888714)
09-29-2021 2:08 PM
Reply to: Message 104 by Percy
09-29-2021 1:21 PM


Re: Production Backs The Dollar
That’s still $378B for 2021 which is rather more than $300B

I can’t find any explanation either, but obviously there must be some factor which reduces the gross amount reported by the Treasury.


This message is a reply to:
 Message 104 by Percy, posted 09-29-2021 1:21 PM Percy has responded

Replies to this message:
 Message 107 by Percy, posted 09-29-2021 2:33 PM PaulK has not yet responded

  
PaulK
Member
Posts: 17007
Joined: 01-10-2003
Member Rating: 2.6


(1)
Message 111 of 119 (888762)
10-03-2021 11:55 AM
Reply to: Message 109 by Phat
10-03-2021 10:36 AM


Re: Production Backs The Dollar
quote:
It is easy to criticize my sources, but I would wager that no one in this forum understands the markets and the global money system any better than I do

I doubt that anyone here is as ignorant of basic economics as you. I might be wrong, but supply and demand is a simple concept, but you haven’t grasped it.


This message is a reply to:
 Message 109 by Phat, posted 10-03-2021 10:36 AM Phat has not yet responded

  
Newer Topic | Older Topic
Jump to:


Copyright 2001-2018 by EvC Forum, All Rights Reserved

™ Version 4.0 Beta
Innovative software from Qwixotic © 2021