cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
Veteran Advisor

Re: The blowback and economic consequences of the trump presidency will...

What will have a long tail is the debt that keeps piling up.  There is no way it can be paid off so we might as well go over the cliff and deal with that Armageddon.

My 2 year old granddaughter is way too cute and sweet to be expected to clean up our mess.

0 Kudos
Highlighted
Honored Advisor

Re: The blowback and economic consequences of the trump presidency will...

Reading Dave's mental vomit is such a waste of time.

Isckitty, rampant inflation is as old as civilization.Pretty easy to manage really, just own hard assets and watch the poor get poorer until they revolt. (Thus, like my peers from Argentina have always known, you have to have some hard assets overseas somewhere). Just the way it works. MMT is EVIL, pure and simple, no way around it's outcome.

0 Kudos
Highlighted
Senior Contributor

Re: The blowback and economic consequences of the trump presidency will...

Ken,  You take the cake! How dare you insinuate that everyone can easily manage inflation.  The poor have no way of managing it.  I think you better clarify!

0 Kudos
Highlighted
Veteran Advisor

Re: The blowback and economic consequences of the trump presidency will...

TIME:  asset mobility is why the "tax the rich" and " make them pay their fair share" is such a joke.  Does anyone really believe the politicians will write a tax law in such a way that allows the feds to go after wealth anywhere in the world?

I feel for the folks living in Georgia.  What they will endure for the next several weeks wouldn't happen if there wasn't so much money and power at stake.

0 Kudos
Highlighted
Honored Advisor

Re: The blowback and economic consequences of the trump presidency will...

There are a lot of "easter eggs" in TPP that I`m sure Jobiden will have no qualms in supporting.

https://www.realclearpolitics.com/articles/2015/04/22/tpp_equals_mass_immigration_126347.html  

snip:

 

Under the Trans-Pacific Partnership, a free trade agreement, Congress could lose the power to restrict immigration. We could find ourselves back in the era before the 1920s when there were no restrictions on immigration and anyone from anywhere could come to our shores. And Republicans, from Mitch McConnell and John Boehner on down, are unwittingly helping Obama achieve this goal.

------------------------

And here is what "they" have planned for us and Isc76cats cute grand daughter.

https://www.forbes.com/sites/worldeconomicforum/2016/11/10/shopping-i-cant-really-remember-what-that...

snip:

Welcome to the year 2030. Welcome to my city - or should I say, "our city." I don't own anything. I don't own a car. I don't own a house. I don't own any appliances or any clothes.

It might seem odd to you, but it makes perfect sense for us in this city. Everything you considered a product, has now become a service. We have access to transportation, accommodation, food and all the things we need in our daily lives. One by one all these things became free, so it ended up not making sense for us to own much.

First communication became digitized and free to everyone. Then, when clean energy became free, things started to move quickly. Transportation dropped dramatically in price. It made no sense for us to own cars anymore, because we could call a driverless vehicle or a flying car for longer journeys within minutes. We started transporting ourselves in a much more organized and coordinated way when public transport became easier, quicker and more convenient than the car. Now I can hardly believe that we accepted congestion and traffic jams, not to mention the air pollution from combustion engines. What were we thinking?

 

Sometimes I use my bike when I go to see some of my friends. I enjoy the exercise and the ride. It kind of gets the soul to come along on the journey. Funny how some things seem never seem to lose their excitement: walking, biking, cooking, drawing and growing plants. It makes perfect sense and reminds us of how our culture emerged out of a close relationship with nature.

In our city we don't pay any rent, because someone else is using our free space whenever we do not need it. My living room is used for business meetings when I am not there.

Once in a while, I will choose to cook for myself. It is easy - the necessary kitchen equipment is delivered at my door within minutes. Since transport became free, we stopped having all those things stuffed into our home. Why keep a pasta-maker and a crepe cooker crammed into our cupboards? We can just order them when we need them.

This also made the breakthrough of the circular economy easier. When products are turned into services, no one has an interest in things with a short life span. Everything is designed for durability, repairability and recyclability. The materials are flowing more quickly in our economy and can be transformed to new products pretty easily. Environmental problems seem far away, since we only use clean energy and clean production methods. The air is clean, the water is clean and nobody would dare to touch the protected areas of nature because they constitute such value to our well-being. In the cities we have plenty of green space and plants and trees all over. I still do not understand why in the past we filled all free spots in the city with concrete.

Shopping? I can't really remember what that is. For most of us, it has been turned into choosing things to use. Sometimes I find this fun, and sometimes I just want the algorithm to do it for me. It knows my taste better than I do by now.

When AI and robots took over so much of our work, we suddenly had time to eat well, sleep well and spend time with other people. The concept of rush hour makes no sense anymore, since the work that we do can be done at any time. I don't really know if I would call it work anymore. It is more like thinking-time, creation-time and development-time.

For a while, everything was turned into entertainment and people did not want to bother themselves with difficult issues. It was only at the last minute that we found out how to use all these new technologies for better purposes than just killing time.

My biggest concern is all the people who do not live in our city. Those we lost on the way. Those who decided that it became too much, all this technology. Those who felt obsolete and useless when robots and AI took over big parts of our jobs. Those who got upset with the political system and turned against it. They live different kind of lives outside of the city. Some have formed little self-supplying communities. Others just stayed in the empty and abandoned houses in small 19th century villages.

Once in a while I get annoyed about the fact that I have no real privacy. Nowhere I can go and not be registered. I know that, somewhere, everything I do, think and dream of is recorded. I just hope that nobody will use it against me.

All in all, it is a good life. Much better than the path we were on, where it became so clear that we could not continue with the same model of growth. We had all these terrible things happening: lifestyle diseases, climate change, the refugee crisis, environmental degradation, completely congested cities, water pollution, air pollution, social unrest and unemployment. We lost way too many people before we realized that we could do things differently.

This blog was written ahead of the World Economic Forum Annual Meeting of the Global Future Councils.

Ida Auken is a Young Global Leader and Member of the Global Future Council on Cities and Urbanization of the World Economic Forum,

0 Kudos
Highlighted
Honored Advisor

Re: The blowback and economic consequences of the trump presidency will...

Silver, that is why I am a man with no party. Unlimited currency and debt creation is evil as the poor are punished quite severely. Sure, a few can place gold bars in other places, but the point was that the only way the poor can respond is to destroy the rich, with violence of course.

0 Kudos
Highlighted
Honored Advisor

Re: The blowback and economic consequences of the trump presidency will...

   Kind of funny really....Kamala Harrasser has promised to be "coming" for the Trump supporters....but who are they? People who think killing a child at birth at 8 months is barbaric? OR, those who think limiting illegal immigration to help raise the wages of the legal inner-city black population? Biggest beneficiaary of a wall is not rich white guys in rural Iowa!  But she is coming...for who exactly? Ultimately, "they" are coming for you....yes you Dave, and Rick, and all the others who think they are in the protected class.

Highlighted
Honored Advisor

Re: The blowback and economic consequences of the trump presidency will...

Pretty soon Rick n Dave`ll be obsolete, lined up at the pit with the rest of us wealthy, landowning planters.

Last Cigarette Cartoons and Comics - funny pictures from CartoonStock

0 Kudos
Highlighted
Senior Contributor

Re: The blowback and economic consequences of the trump presidency will...

So in other words its not easy to manage inflation for some?  Correct?

0 Kudos
Highlighted
Honored Advisor

Re: The blowback and economic consequences of the trump presidency will...

Waaaay before Trump..

https://www.pbs.org/newshour/economy/how-does-the-us-export-its-inf  

 

snip:

 

Question/Comment: How does the U.S. “export” its inflation to other countries? And a second question: Frequently pundits say the U.S. can and does print money to achieve some economic or financial goal. However, my economics professor says the government does not print money except to replace worn-out money. In my opinion, the government can (and does) increase the money supply, not by printing money, but by using various tools the Federal Reserve has at its disposal. Can you clarify this issue with specific detail?

Paul Solman: What people usually mean when they say the U.S. “exports” its inflation is that we’re flooding the world with dollars. To the extent the dollars are held as reserves by other countries (e.g., China, Japan) those countries are holding assets that are worth less, as the dollar drops in value. Thus their monetary wealth is diminishing with ours (i.e., inflation). It seems to me an iffy argument, however, because as the dollar drops, U.S. exports become cheaper and foreign currencies stronger.

 

That’s the opposite of inflation. So the U.S. could be said to be exporting inflation and deflation at the same time. As to “printing” money, the term is used both literally (as by your professor) and figuratively, as by you. People mean that the government, via the Fed, creates money when they say it “prints” it. What are the mechanics of the Fed creating money? It buys Treasury bonds (and lately, all sorts of other loans) from banks (and lately, investment banks, too) and deposits “Federal reserves” in their accounts. Those reserves are money — deposits on the basis of which banks can lend.

0 Kudos