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Quote:Now who's being politically correct?

 

The term is "old geezers".

 

Nope.  You are older than me so you have reached "geezer" status.  

We're all just a bunch of curmudgeons around here... Lol


Dude, did you hear the latest gem from the mind of the billionaire business mogel that has been sent to save us?


It's a doozey, I can't wait to hear how the trumpettes rationalize this one!!

Quote:We're all just a bunch of curmudgeons around here... Lol


Dude, did you hear the latest gem from the mind of the billionaire business mogel that has been sent to save us?


It's a doozey, I can't wait to hear how the trumpettes rationalize this one!!

 

Which one?

He said he was the king of debt, and that we'll never default on our debt because we can just always print more money...


This was in response to his plan over the weekend of using bankruptcy as a fiscal policy!

Quote:He said he was the king of debt, and that we'll never default on our debt because we can just always print more money...


This was in response to his plan over the weekend of using bankruptcy as a fiscal policy!

I hope your joking but I fear your not

Quote:I hope your joking but I fear your not

 

No joke.  I'm summarizing, but I'm sure I could find the quote.  I'm a pretty liberal dude, and I believe in Keynesian economic principles.  But, saying that we're gonna run up the debt and then just defualt on them, but then clarifying saying we'll just print more money is clearly a terrible idea.

 

But to a millioniare that knows how to exploit bankruptcy and has no ethical standards, yeah, I guess that's one way to go... :blink:

Quote:He said he was the king of debt, and that we'll never default on our debt because we can just always print more money...


This was in response to his plan over the weekend of using bankruptcy as a fiscal policy!

Ahhh, the benefit of issuing debt in your own free floating currency.  Not that cranking the printing press into overdrive is a prudent fiscal policy, but he's right.  

Quote:Ahhh, the benefit of issuing debt in your own free floating currency.  Not that cranking the printing press into overdrive is a prudent fiscal policy, but he's right.

Welcome to QEInfinium.

Quote:Ahhh, the benefit of issuing debt in your own free floating currency.  Not that cranking the printing press into overdrive is a prudent fiscal policy, but he's right.  

 

OK...  So let's think about that...  First of all, I'm not sure what exactly you think he's right about, but I'm gonna assume you meant printing money...

 

So let's say that we have a bunch of bills that come due, so we print a whole bunch of money.  If you dump a bunch of dollar into the market to do this, the value of the dollar goes down dramatically.  Because what the government just did by printing the money is sending a signal that the fiat money is weak, thus it's purchasing power goes down.  When this happens, all of a sudden that gas that you buy goes from 2.98 a gallon now jumps to 5 or 10, heck depending on how much money Trump prints may become $100 per gallon.  This is called inflation and possibly hyper inflation.  And it's not good.

 

So I'm not sure what exactly you think he's right about.  Can you please clarify.

Quote:OK...  So let's think about that...  First of all, I'm not sure what exactly you think he's right about, but I'm gonna assume you meant printing money...

 

So let's say that we have a bunch of bills that come due, so we print a whole bunch of money.  If you dump a bunch of dollar into the market to do this, the value of the dollar goes down dramatically.  Because what the government just did by printing the money is sending a signal that the fiat money is weak, thus it's purchasing power goes down.  When this happens, all of a sudden that gas that you buy goes from 2.98 a gallon now jumps to 5 or 10, heck depending on how much money Trump prints may become $100 per gallon.  This is called inflation and possibly hyper inflation.  And it's not good.

 

So I'm not sure what exactly you think he's right about.  Can you please clarify.

 

welcome to my world, this is the reality of what is coming.

Here is the wonderful tale of what we're headed for as they experienced it in post-Revolutionary France about 250 years ago. It's a pdf, so you'll have to read it digitally, and the prose is drudgery, but the lessons are timeless.

 

http://file:///C:/Users/chugh001/Downloads/Fiat%20Money%20Inflation%20in%20France_2.pdf

 

The more things change the more we keep retrying bad ideas.

Well, if you're known by your enemies, this guy must be ok.

 

https://pjmedia.com/zombie/2016/05/09/in...mp-circus/

Can you give us the cliffs notes so we don't have to download it on our phones, flsprts?

Quote:Can you give us the cliffs notes so we don't have to download it on our phones, flsprts?

 

It started in 1789 with the printing of 400 million fiat Francs secured by the recently seized property of the Church of France. It ended up with millions upon millions more printed to the point of worthlessness.

 

Here's the last of the Introduction:

 

<p style="color:rgb(77,77,77);font-family:Georgia, 'Times New Roman', Times, serif;font-size:16px;">"Who suffer the most from the Debasement of the Currency?—The misgovernment of Charles and James, gross as it had been, had not prevented the common business of life from going steadily and prosperously on. While the honor and independence of the state were sold to a foreign power, while chartered rights were invaded, while fundamental laws were violated, hundreds of thousands of quiet, honest, and industrious families labored and traded, ate their meals, and lay down to rest in comfort and security. Whether Whigs or Tories, Protestants or Jesuits were uppermost, the grazier drove his beasts to market; the grocer weighed out his currants; the draper measured out his broadcloth; the hum of buyers and sellers was as loud as ever in the town; the harvest home was celebrated as joyously as ever in the hamlets; <span>[85]</span> the cream overflowed the pails of Cheshire; the apple juice foamed in the presses of Herefordshire; the piles of crockery glowed in the furnaces of the Trent, and the barrows of coal rolled fast along the timber railways of the Tyne.

<p style="color:rgb(77,77,77);font-family:Georgia, 'Times New Roman', Times, serif;font-size:16px;">But when the great instrument of exchange became thoroughly deranged, all trade, all industry, were smitten as with a palsy. The evil was felt daily and hourly in almost every place and by almost every class—in the dairy and on the thrashing floor, by the anvil and by the loom, on the billows of the ocean and in the depths of the mine. Nothing could be purchased without a dispute. Over every counter there was wrangling from morning to night. The workman and his employer had a quarrel as regularly as the Saturday came round. On a fair day or a market day the clamors, the reproaches, the taunts, the curses, were incessant; and it was well if no booth was overturned and no head broken.

<p style="color:rgb(77,77,77);font-family:Georgia, 'Times New Roman', Times, serif;font-size:16px;"> 

<p style="color:rgb(77,77,77);font-family:Georgia, 'Times New Roman', Times, serif;font-size:16px;">⚓<a class="" href='http://oll.libertyfund.org/titles/1948#White_1391_141' title="Citation for this paragraph">✪</a>

<p style="color:rgb(77,77,77);font-family:Georgia, 'Times New Roman', Times, serif;font-size:16px;">No merchant would contract to deliver goods without making some stipulation about the quality of the coin in which he was to be paid. Even men of business were often bewildered by the confusion into which all pecuniary transactions were thrown. The simple and the careless were pillaged without mercy by extortioners, whose demands grew even <span>[86]</span> more rapidly than the money shrank. The price of the necessaries of life, of shoes, of ale, of oatmeal, rose fast. The laborer found that the bit of metal which, when he received it, was called a shilling would hardly, when he wanted to purchase a pot of beer or a loaf of rye bread, go as far as sixpence. Where artisans of more than usual intelligence were collected in great numbers, as in the dockyards at Chatham, they were able to make their complaints heard and to obtain some redress. But the ignorant and helpless peasant was cruelly ground between one class which would give money only by tale and another which would take it only by weight.

Oh, and the natural end result was Napoleon, the people clamoring for the Strongman to take control of their lives. 

Thanks, flsprts, that's a good read. It's scary that trump supporters aren't paying attention to this.


The complete collapse of the us dollar that would happen based on what trump just said is not a hypothesis, its an absolute certainty. And, as you cited, it's history as well.

It has happened thousands of times in history that governments steal from their citizens through debasement of the currency.  And it has usually led to war and a strong nationalist leader.  It seems the real choice in this election is between national socialism and international socialism.

We'll make America great again by grinding the worldwide standard, the US dollar, into the weakest currency on Earth!

 

Donald is a genius!  He'll turn the US into Greece and Argentina!  Or maybe we can finally become China!

 

Maybe I should reconsider my vote for the only moderate candidate....

Quote:We'll make America great again by grinding the worldwide standard, the US dollar, into the weakest currency on Earth!


Donald is a genius! He'll turn the US into Greece and Argentina! Or maybe we can finally become China!


Maybe I should reconsider my vote for the only moderate candidate....

Your first paragraph was happening long before The Don ever threw his hat in the political ring.

It seems like no trumpettes want to discuss the king of debt's fiscal prowess, huh?