Testing The Financial Apologists

Did it evr occur to you that part of the reason for the disconnect is because the currencies themselves are devalued and inflated?

Has it ever occurred to you to provide an actual argument and evidence instead of ranting and raving?

quote:

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His economic ideas were soaked with Libertarian ideology. No, I didn't respect him.

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Objectivist ideology which is similar but not quite the same.

Can you explain why that has not happened already?

Of course I dispute such utterly juvenile absurdities.Try thinking, really.And annual COLAs are indexed to inflation.Are you really that ignorant of basics?

Jesus Phat, pack it in, you haven't the faintest clue what you're talking about. Social security a fixed asset? Why are you dicking around with stuff you don't understand? Is it something to do with your gambling?

My oldest son has received social security disability since has been eligible. He gets a cola increase every year. Are you truly this ignorant?

So, that means that in actuality, the dollar value of oil determines the value of the dollar. And in this modern world more so than gold. Oil, not gold, is the major portion of the dollar's value. That also means that the dollar value of diamonds also determines the value of the dollar. And the dollar value of land determines the value of the dollar. The dollar value of pork bellies determines the value of the dollar. The dollar value of cannabis determines the value of the dollar.In this society the value of the dollar is determined by ... everything. It's like the value of the dollar just floats around one transaction to the next with people deciding, moment to moment, deal by deal, how many $$ they want to give for their cannabis, pork bellies, land, diamonds, oil and gold. The one common item in all these is the dollar and people determine its value by the last transaction.In the old days when currency values were determined by governments and by banks you could fund a society with some shiny trinkets stored in a vault. This modern economic society is too damn big and moves too damn fast for some trinkets in a box to support. This is not the days of your grandfather. This is modern economics where there is often not enough unencumbered gold to hold the value of some single transactions let alone a world's worth of transactions overnight.We needed a new store of value, one in place of scarce commodities, one flexible enough to expand and contract as the flow of values in this hyped-up monster world economy instantly demands.No one made this determination. This was not appointed or dictated. Independent people with independent minds made the conscious decision to temporarily store the value of their pending transactions in U$A Dollars. Their reasons are well known and, in the best possible way, were right. You can store your billions in $$$ overnight without having to worry about whether there are enough trinkets available in the box.The full faith and credit of a global society. What you put in last night is still there today. You can now pay the billions for the energy your society desperately needs. You can't be sure you can do that on a gold economy when there isn't enough gold.

How do you make it through the day?--Percy

He is living the dream.
Maybe he should try the Costanza rule.
Rookie » Literally the Best Thing Ever: The George Costanza Method

Ayn Rand, of whom Greenspan was an adoring fan, hated libertarians. She felt it was a bastardization of her philosophical musings. She could not stand the idea of being sullied with mere politics.
Objectivists tend to be people seemingly stuck in their early teens behaviorally and emotionally. Libertarians are similar. Both groups are searching for a political moral philosophy they can use to justify their selfishness and narcissism. That is why conservatives dabble in them.

From Symptoms of Diabetic Dementia. I've bolded the symptoms that seem to apply in the context of EvC Forum:

• memory loss that affects daily living and social interactions
• difficulty completing familiar tasks
• misplacing things often
• decreased ability to make judgments based on information
  
• sudden changes in personality or demeanor

Diabetic dementia isn't currently a thing, but the possibility has recently begun to draw more research attention.--Percy

jar and I have had many discussions over the years, and here we go again. Is that what you meant to say?
Why is it that there is a division between progressives and conservatives? It seems as if each "side" has its narrative(to a degree). No one is suggesting a strict gold standard like there was before 1971, though some say that it would serve to reign in unfunded and unbacked spending. One analyst figured out that for gold to play the role that it played prior to 1971, it would have to be valued at $27,000.00 an ounce.Part of the division between the Left and the Right is ideological. No one gets to have their own set of facts, though the arguments used in defense of rational minds *progressive ideology* attack another narrative. For the conservative view, lets use Tucker Carlson as an example. Though called a "turd" by many progressives, his journalism cannot be criticized though his overall ideology often is criticized simply for rejecting the narrative of the progressives.
The stakes for this election are quite high, and the pressure is on the progressives to retain control of the White House. Unfortunately, Donald Trump has been selected to be the representative of political conservatism, This election will be as dirty as any of the previous battles which have only widened the political divide in America.As far as counter-narratives go, I have recently paid attention to the chasm regarding the War in Ukraine and what the situation is (rather than what our narratives suggest that it is). In this regard, I do not believe the progressive narrative.The same holds true with the role of Gold as a hedge against inflation and economic uncertainty. The fact is that since 1971, globalists have tried to substitute the US Dollar for the role formally held together by gold.It is my opinion that Gold will prevail. If the fiat basket of currencies needs some sort of backing, I side with the East and its solutions rather than the West and its snowballing debt. One can show me all sorts of facts emphasizing the strength of the dollar in today's world, but they fail (in my opinion) to consider the alternative narrative.

The U.S. made a grave error by weaponizing the dollar. We won't win that one in the long run.

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You may well know the "facts" of the last 50 years, but the dominant narrative has changed. As you once said, "The Bill Will Get Paid". T Bills won't save us this time.

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The wealthy have already abandoned then dollar as backing their positions.

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And you won't be able to get much money out of them through taxation. The middle is stuck with the bill.

The descent continues.--Percy

Just unsourced mutterings of a mad man.Hitchens's Razor is all this needs.