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#Post#: 3411--------------------------------------------------
Re: Money
By: AGelbert Date: July 6, 2015, 6:11 pm
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Hat tip to Surly for this great find! [img width=25
height=30]
HTML http://www.createaforum.com/gallery/renewablerevolution/3-080515182559.png[/img]
[quote author=Surly1 link=topic=5139.msg79954#msg79954
date=1436198123]
Here is another view from Thomas Piketty that seems obvious, but
I have heard no one mention it:
Germany hasn't paid ANYBODY.
German copyright law is arcane with limited provisions for
public reuse, so this is a Google , DIE ZEIT. The original
German interview with Thomas Piketty can be found here
HTML http://www.zeit.de/2015/26/thomas-piketty-schulden-griechenland/komplettansicht.
[size=14pt]"Germany has never paid"
The star economist Thomas Piketty calls for a large debt
conference. Especially Germany must help the Greeks refuse
INTERVIEW: Georg Blume
TIME (DIE ZEIT)
June 27, 2015 20:09 c
HTML http://images.zeit.de/wirtschaft/2015-06/piketty-3/piketty-3-540x304.jpg
Since his book Success "Capital in the 21st Century" is one of
Frenchman Thomas Piketty of the most influential economists in
the world. His theories on the distribution of income and wealth
triggered last year of a global debate. In time conversation he
now mixes also decided in the European debt debate.
DIE ZEIT: Can we Germans are pleased that even the French
Government currently pays tribute to the dogmas of the Berlin
austerity?
Thomas Piketty: Not at all. That's a reason to celebrate neither
France nor Germany, and certainly not for Europe. Rather, I am
afraid that the Conservatives, in particular in Germany, are on
the verge, Europe and the European idea to destroy - and because
of their appalling lack of historical memory.
DIE ZEIT:: We Germans have yet worked up the story.
Piketty: But not when it comes to German debt! The memory of it
just for today's Germany would have to be of importance. Look at
the history of public debt to: Great Britain, Germany and France
have all been in the situation of Greece today, even suffered
even higher debts. The first lesson that can therefore be drawn
from the history of sovereign debt, is that we do not face new
problems. There was always plenty of opportunities to pay off
the debt. And never want only one, as Berlin and Paris looking
to make the Greeks.
DIE ZEIT:: But they should repay the debt after all?
Piketty: My book tells of the history of income and assets,
including the public. What struck me in writing: Germany really
is the prime example of a country that has never repaid its
government debt in history. Neither after the First nor the
Second World War. There was another pay about after the
Franco-German War of 1870, when it called for a high payment of
France and they got it. For the French state was suffering then
for decades under the debt. In fact, the history of public debt
irony. They rarely follow our ideas of order and justice.
DIE ZEIT:: But it can not but draw the conclusion that we can do
no better today?
Piketty: When I hear the Germans now say that they maintain a
very moral dealing with debt and firmly believe that debts must
be repaid, then I think: That's a big joke! Germany is the
country that has never paid his debts. It can be obtained in
other countries no lessons.
DIE ZEIT:: Do you want to try the story in order to portray
States who do not repay their debts as a winner?
Piketty: Just such a state is Germany. But slowly: The story
teaches us two options for a highly indebted country to settle
its arrears. One has fooled the British Empire in the 19th
century after the Napoleonic Wars expensive: It's slow method,
which today also recommends Greece. The UK division at that DIE
ZEIT: the debt through rigorous financial management from -
although it worked, but took extremely long. Over 100 years the
British relatives two to three percent of its economic output on
the debt, spending more than they for schools and education.
That must not be and should not be today. For the second method
is much faster. Germany has it tried in the 20th century.
Essentially, it consists of three components: inflation, a
special tax on private assets and liabilities sections.
DIE ZEIT:: And now you want to tell us that our economic miracle
was based on debt cuts that we deny the Greeks today?
Piketty: Exactly. The German government was in debt after the
war ended in 1945 with more than 200 percent of its gross
national product. Ten years later it had little choice but the
national debt was less than 20 percent of the national product.
France succeeded in that DIE ZEIT: a similar feat. This
tremendously rapid debt reduction but we would never have
reached with the budgetary resources that we recommend Greece
today. Instead, our two countries turned to the second method,
the three mentioned components, including debt restructuring.
Think. To the London Debt Conference in 1953, canceled on the 60
percent of Germany's foreign debt and also the domestic debt of
the young Federal Republic were restructured
DIE ZEIT:: This was from the realization that the high repayment
demands on Germany after the First World War were among the
reasons the Second World War. They wanted this DIE ZEIT: forgive
the Germans for their sins!
Piketty: Nonsense! This had nothing to do with moral insights,
but was a rational economic decision. It was recognized at the
DIE ZEIT: correctly: According to major crises which have a high
debt burden result, there comes a DIE ZEIT: when you have to
turn to the future. We can not expect to pay for decades for
their parents' mistakes of new generations. Now the Greeks have
undoubtedly made great mistakes. By 2009, the government in
Athens have forged their budgets. Why not the younger generation
of Greeks now bears more responsibility for the mistakes of
their parents as the young generation of Germans in the 1950s
and 1960s. We must now look forward. Europe was founded on
forgetting the debt and investing in the future. And it is not
on the idea of eternal penance. We need to remember.
DIE ZEIT:: The end of World War II was a break with
civilization. Europe was like a battlefield. That's different
today.
Piketty: reject the historical comparison with the post-war
period would be wrong. Take the financial crisis of 2008/2009:
That was not any crisis! It was the biggest financial crisis
since 1929. So we have to do these historical comparisons. This
also applies to the Greek national product: Between 2009 and
2015 it fell by 25 percent. This is comparable to the recessions
in Germany and France 1929-1935.
DIE ZEIT:: Many German believe that the Greeks have their faults
not seen until now and want to just go ahead with its high
government spending.
Piketty: If we had told you Germans in the 1950s, that you
present your errors have not sufficiently acknowledged, you were
still trying to repay your debts. Fortunately, we were smart.
DIE ZEIT:: German Finance other hand, seems to believe that a
Greek exit from the euro zone could Europe weld together even
faster.
Piketty: If we start to launch a country, the serious crisis of
confidence in the euro zone is now, only larger. Financial
markets would turn to the next country immediately. That would
be the beginning of a long agony, in the course of which we risk
Europe's social model, its democracy, to sacrifice even his
civilization on the altar of a conservative, irrational debt
policy.
DIE ZEIT:: Do you think that we are not Germans generous enough?
Piketty: What are you talking about? Generous? Germany earned so
far to Greece by comparatively high interest grants loans to the
country.
DIE ZEIT:: What is your proposed solution to the crisis?
Piketty: We need a conference on the total debt as Europe after
the Second World War. A debt restructuring is unavoidable not
only in Greece but in many European countries. We just lost the
completely opaque negotiations with Athens six months. The idea
of the Euro Group that Greece in the future generated a budget
surplus of four percent, in the next 30 to 40 years to repay its
debt is still not off the table. It is said that in 2015 will
one percent surplus generated in 2016 then two per cent, in 2017
three and a half percent. Totally crazy! It will never run so.
We move the necessary debt debate on the cows come home day.
DIE ZEIT:: And what would after the great haircut?
Piketty: It would require a new democratic European institution,
which decides on the permitted level of debt in order to avoid a
resurgence of debt. This could for example be a European
Parliament chamber, which results from the national parliaments.
Financial decisions can not escape the parliaments. To undermine
democracy in Europe, as Germany does today, by insisting on the
durchgepowerten especially from Berlin Regelautomatismen in debt
of states, is a big mistake.
DIE ZEIT:: Your President Francois Hollande has just failed only
with his criticism of the fiscal pact.
Piketty: That does not help matters. If in recent years, the
decisions in Europe would have fallen in a democratic way, there
would be today Europe a less strict austerity.
DIE ZEIT:: As it is doing in France with no party. National
sovereignty is considered sacred.
Piketty: In Germany more people do, in fact thoughts that go in
the direction of a democratic new foundation of Europe, as in
France, with its numerous Sovereignty believers. In addition,
our president still makes a prisoner of the failed EU
Constitution referendum in France in 2005. François Hollande
does not understand that a lot has changed by the financial
crisis. National self-interest, we need to overcome.
DIE ZEIT:: What national egoism shows in Germany is at work?
Piketty: I think Germany today is very marked by the
reunification. They had a long DIE ZEIT: afraid of being left
behind by economic them. But then the union succeeded very well,
thanks to a functioning social model intact and industrial
structures. Meanwhile, however, the country is so proud of this
achievement that it granted all the other countries lessons.
This is a bit infantile. Of course I understand the importance
of the successful reunification was about the personal history
of Chancellor Angela Merkel. But now Germany has to rethink.
Otherwise, his attitude towards the debt about a great danger
for Europe.
DIE ZEIT:: What do you advise the Chancellor?
Piketty: Those who want to expel Greece from the Euro-Zone today
will end up in the dustbin of history. If the Chancellor wants
to secure its place in history, like succeeded Kohl with the
unification, it must be now successfully used for an agreement
in the Greece issue - including a debt conference, which we then
start over at zero. But then with a new, much stricter budgetary
discipline than before.[/size]
[/quote]
#Post#: 3412--------------------------------------------------
Re: Money
By: AGelbert Date: July 6, 2015, 7:30 pm
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[quote author=Surly1 link=topic=559.msg79989#msg79989
date=1436225965]
Thanks, AG. I get an increasingly bewildering number of things
that hit my inbox every day.
Some of them bear fruit.
Right now this is the only place i know of you can read it in
English.
Doubtless not for long, though.
[/quote]
Surly,
You are quite welcome. It would be interesting to see how the
NAZI sympathizers at places like Rense.com, who are continually
trying to blame the Allies for creating the conditions that
created Hitler ("onerous" reparations after WWI), would react to
the hard truths your posted article points out.
HTML http://www.pic4ever.com/images/swear1.gif
They wouldn't like it.
;D The continual efforts to make a saint out of Hitler and the
German people of that time disgusts me. They are no better than
the racist defenders of the stars and bars. In the USA, it is
no coincidence that the same people are often both Holocaust
deniers and confederate Flag defenders.
HTML http://www.createaforum.com/gallery/renewablerevolution/3-200714183337.bmp
#Post#: 3585--------------------------------------------------
Re: Money
By: AGelbert Date: August 9, 2015, 5:01 pm
---------------------------------------------------------
[quote author=Golden Oxen link=topic=133.msg82575#msg82575
date=1439125613]
[quote]Quote from: agelbert on August 08, 2015, 01:24:02 PM
DEFLATION is a misnomer in a fiat currency environment. What
part of that do you not understand? [/quote]
Catching up on my reading this morning AG, and just had to
compliment you on your excellent financial postings of late.
The capital gains insight was top notch material as well that
did not go unnoticed.
While I realize your favored focus is on other matters, your
insights on financial matters, appearing more often, would be
most appreciated as well.
[/quote]
GO,
Thank you.
As to the comments from Palloy on PV and RE on the "population"
problem or the "low energy " of Renewable energy systems
allegedly making it "IMPOSSIBLE" to transition to 100% Renewable
Energy without killing the economy, their arguments are more
ideological than logical. It's a waste of time to argue with
them. 8)
For your info, the EROI fixation Palloy and others have in
regard to doing the math on Energy is flawed. LCOE is what I
referred to that really describes energy efficiencies from
cradle to grave.
Since you are up on financial and accounting terms, here's a
very brief summary of what is involved in formulating LCOE from
an excellent article.
SNIPPET 1:
Levelized Cost of Energy (LCOE) Defined
LCOE is used to compare the relative cost of energy produced by
different energy-generating sources, regardless of the project’s
scale or operating time frame. As Thomas Holt and his co-authors
define it in A Manual for the Economic Evaluation of Energy
Efficiency and Renewable Energy Technologies (see Resources),
LCOE is determined by dividing the project’s total cost of
operation by the energy generated. The total cost of operation
should include all costs that the project incurs—including
construction and operation— and may incorporate any salvage or
residual value at the end of the project’s lifetime. Incentives
for project construction and energy generation can also be
incorporated.
LCOE = Total Life Cycle Cost / Total Lifetime Energy Production
(1)
As presented in Equation 1, LCOE is a metric that describes the
cost of every unit of energy generated by a project in $/kWh (or
¢/kWh or $/MWh).
As will be shown directly, this basic definition of the LCOE can
be expressed mathematically in more complex ways to account for
all of the variables that impact the life cycle cost and total
energy production for a PV system.
SNIPPET 2:
LCOE Uses
LCOE is most commonly used for evaluating the cost of energy
delivered by projects utilizing different generating
technologies. Specifically, it is used to rank options and
determine the most cost-effective energy source. LCOE may also
be used to compare the cost of energy from new sources to the
cost of energy from existing sources. In this context, it is
useful to policy makers deciding how future energy needs will be
met and which technologies to support, and to utilities and
project developers selecting technologies. It should be noted
that energy-efficiency projects may also be evaluated using the
metric.
Because it captures total operating costs, LCOE enables
comparisons between significantly different technologies, but it
may also be used to compare the cost of energy from variations
of the same technology.
SNIPPET 3:
Key Financial Concepts
While it is beyond the scope of this article to thoroughly
explain the financial theory behind the LCOE equation, there are
two key concepts that you need to understand.
Cash flow. For the purposes of the LCOE calculation, the cash
flow is a table showing the amount of money either spent or
received each year over the life of the project. The values
included in the cash flow vary depending on how the project is
financed and whether you are considering tax credits or
incentives.
In a simple example, the Year 0 value for a PV project cash flow
would include the capital cost of installing the system and any
up-front investment or capacity-based incentives. All tax
credits, tax savings and performance-based incentives would
begin to be recognized in Year 1. For most subsequent years, the
only costs in the cash flow would be relatively small O&M
expenditures. The likely exception to this would be the year
when the inverter needs to be repaired or replaced. In some
scenarios, the value of the equipment or material is included in
the cash flow at the end of the project lifetime.
If the value of money was static over time, then the total life
cycle cost of the project would be determined by simply summing
each value in the cash flow. However, a dollar today is worth
more than a dollar tomorrow, which leads us to the concept of
present value.
Present value. In the context of this discussion, we want to
determine how much each annual value in our project cash flow is
worth in today’s dollars. To figure this out, we need to
multiply each value by some factor less than 1. This factor is
called the discount factor and can be represented by the
following equation:
Discount Factor = 1 / (1+d)
where d is the rate of return that could be expected from
equivalent investment alternatives. The discount factor can be
difficult to define and varies from project to project and over
time.
A present value calculation allows you to account for the timing
of expenditures or revenue and puts a higher value on costs and
income that occur near the beginning of a project. This is
important when comparing technologies because they often have
different long-term cost profiles. Renewable technologies often
require a large up-front investment and incur little cost over
the project lifetime, whereas traditional sources of energy
often have a lower up-front cost but require continuing
significant investment in fuel costs.
HTML http://solarprofessional.com/articles/finance-economics/levelized-cost-of-energy?v=disable_pagination
HTML http://solarprofessional.com/articles/finance-economics/levelized-cost-of-energy?v=disable_pagination
I have been unable to get these CFS OBVIOUS advantages of
Renewable Energy past the ideological lense that Palloy AND RE
refuse to stop seeing through. So, I don't bother to try any
more.
ALL the arguments presented in this forum against the
feasibility of a rapid 100% (or more) transition to Renewable
Energy do not hold water. Even the IMF, no friend of Renewable
Energy, AGREES with me. :icon_mrgreen:
The IMF just destroyed the main argument against clean energy
May 25, 2015
HTML http://www.energypost.eu/imf-just-destroyed-main-argument-clean-energy/
HTML http://www.energypost.eu/imf-just-destroyed-main-argument-clean-energy/
But they aren't the only ones.
[quote] his new book “Clean Disruption of Energy and
Transportation”, famous author, lecturer and Silicon Valley
entrepreneur Tony Seba predicts that by 2030 all power
generation will be solar and wind and all cars will be
self-driving electric vehicles. The existing energy industry
will be “obliterated”. ;D In a review of the book, José
Cordeiro, founding energy advisor at Singularity University and
Visiting Research Fellow at the Institute of Developing
Economies ( IDE-JETRO) in Japan, concedes that this sounds
unlikely, but calculates that it is very well possible.
[/quote]
HTML http://www.energypost.eu/clean-disruption-silicon-valley-will-make-oil-nuclear-gas-coal-obsolete-book-review/
HTML http://www.energypost.eu/clean-disruption-silicon-valley-will-make-oil-nuclear-gas-coal-obsolete-book-review/
But don't try to convince RE or Monsta or Nicole or Ilargi or
Palloy et al. They are not listening. Soon they will be forced
to face reality. But until then, they will continue to claim I
am the one not facing it. ;D
At any rate, if you want to have some fun with Nicole Foss or
Ilargi, ask them what the present value of a deflating currency
is... ;D
HTML http://www.doomsteaddiner.net/forum/index.php?topic=559.msg82616#msg82616
#Post#: 3609--------------------------------------------------
Re: Money
By: AGelbert Date: August 13, 2015, 7:37 pm
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[quote author=Eddie link=topic=559.msg82908#msg82908
date=1439507039]
Let me take this opportunity to congratulate you both. You're
very dedicated, each of you, and worthy of a great deal of
praise. I mean that sincerely. Please don't think that, because
I'm a curmudgeon, that I don't appreciate all you do for this
site and for the concerned people in the world.
[/quote]
Thank you. It's the passion thing. 8) I am frequently so fed
up and frustrated about the way things are that I try to quit.
Surly usually gives me a lesson in reality and kicks my ass
around so I get back in the saddle, but I must admit it gets
really old seeing so much POLLUTING POISON coming down on us and
so few people willing to realize that we are NOT going to change
anything for the better if we get all maudlin about
defending/justifying all the wrong moves made by Homo Saps to
get to where we are.
If I could synthesize the main argument I have with the
Predators 'R' US crowd, it's that the homeostatic range of ALL
life forms, even if many have radically different ranges than
ours, DICTATES that there IS such a thing as TOO MUCH of a
substance that we need to LIVE. This is LIFE REALITY. But the
Wall Streeters do not understand that concept. MKing does not
understand that concept either. Most Libertarians do not
understand that concept either.
TOO MUCH PECUNIARY PROFIT is deadly for human society. Never
mind that it leads to tyranny and oligarchy. That's the LEAST of
our concerns.
The problem is that it is incredibly difficult to maintain our
level of civilization and not degrade the biosphere. When
addressed as a social challenge, one that everyone must pay for
equally, it makes it into that 'homeostatic' area as a metaphor
to life processes. In that case, everybody tries to keep their
polluting down to a dull (i.e. sustainable) roar, so to speak.
But when a few ass holes running a multibillion dollar fossil
fuel industry get MORE MONEY if they POLLUTE MORE through wars,
extraction, processing and sale of fossil fuels, they leave
behind the 'homeostatic' zone and charge into the extinction
trajectory. They become a metaphor for a cancerous tumor. The
more billionaires out there DOING what they DO, the more tumors.
It's easy to convince people that having too little money is
bad. It's damned near impossible to convince them that having
too much money is bad. But it is. That is the lesson and the
warning that homeostasis SCREAMS at us from nature.
Most people don't get it. For example, they look at a graph with
the X axis equal to time and the Y axis equal to income. They do
not understand that, in living beings, that graph has a
HOMEOSTATIC ZONE. If you depart from that zone below OR ABOVE,
you will harm yourself and those around you (humans AND the rest
of the biosphere).
INCOME, when you do the biosphere math, is a certain RANGE of
nutrients along with shelter, security, etc. (see Maslow).
Everybody looks at that graph and says there is no such thing as
too much "money". Well, your body NEVER gets ANY money; It gets
NUTRIENTS. What happens when you eat 72 ounce steaks, drink 10
milk shakes and other sugar "goodies" every day? Well, THAT is
what is happening to our society!
Yeah, I know. Good luck trying to convince anybody of that. :(
Nevertheless, at least for now, I will continue, as Knarf, RE
and Surly (and others from time to time) do to, not just
document our misery, but propose ways to avoid extinction. ;)
HTML http://www.doomsteaddiner.net/forum/index.php?topic=559.new#new
#Post#: 3651--------------------------------------------------
Re: Money
By: AGelbert Date: August 24, 2015, 5:38 pm
---------------------------------------------------------
What to Expect From the Fed's Jackson Hole Meeting
Mohamed A. El-Erian Aug 24, 2015 2:00 AM EDT
SNIPPET 1:
[quote]
Although the official focus this year will be "Inflation
Dynamics and Monetary Policy," [img width=160
height=095]
HTML http://www.createaforum.com/gallery/renewablerevolution/3-241013183046.jpeg[/img]<br
/>the event organized by the Federal Reserve Bank of Kansas City
also should be an opportunity to discuss the challenges facing
the global economy, including the slowdown in the emerging world
and the threat it presents to social well-being and financial
stability.
HTML http://www.freesmileys.org/smileys/smiley-scared002.gif
;D
[/quote]
Agelbert NOTE: We KNOW who's social well-being and financial
stability the Fed lackeys for Oligarchy are concerned with,
don't we? [img width=40
height=40]
HTML http://www.createaforum.com/gallery/renewablerevolution/3-280515145049.png[/img]<br
/> [img width=40
height=40]
HTML http://www.createaforum.com/gallery/renewablerevolution/3-051113192052.png[/img]<br
/>
IOW, if your net worth is not well over a one million dollars,
your "social well-being and financial stability" does not merit
disussion among attending luminaries of world finance.
HTML http://www.pic4ever.com/images/acigar.gif
[I]SNIPPET 2:[/i]
[quote]As things stand, the next scheduled assembly of global
economic officials won’t take place until the annual meetings of
the International Monetary Fund and the World Bank in the first
half of October in Peru.
By then, one of two outcomes will have been established: Either
loosely coordinated national policy responses will have
succeeded in restoring calm to markets and in buying more time
for the global economy to get back on a growth path, or more
intense market volatility will have fueled greater concern about
adverse consequences around the world, accentuating the dangers
of a vicious cycle of economic contraction and financial
instability.
HTML http://s15.rimg.inf
o/dcda0e08e538cb37431314e6bd49279b.gif
Investors
HTML http://www.pic4ever.com/images/165fs373950.gif
may
hope for the first outcome. But, absent any changes in policy
actions and prospects, they would be well advised to plan for
the second.
HTML http://www.pic4ever.com/images/128fs318181.gif
[/quote]
HTML http://www.bloombergview.com/articles/2015-08-24/el-erian-fed-jackson-hole-china-markets
#Post#: 3658--------------------------------------------------
Re: Money
By: AGelbert Date: August 25, 2015, 9:16 pm
---------------------------------------------------------
The Crash of 2016 may have started. :o
HTML https://youtu.be/039Zh9KBCqY
Published on Dec 5, 2013
Looking at American history, Hartmann, host of The Big Picture,
sees that roughly every four generations, catastrophe strikes.
To avert the next economic and social disaster, he urges us to
reject the destabilizing profit motives of corporations, and
embrace the ideals of democratic civil values that once defined
the nation.
Founded by Carla Cohen and Barbara Meade in 1984, Politics &
Prose Bookstore is Washington, D.C.'s premier independent
bookstore and cultural hub, a gathering place for people
interested in reading and discussing books. Politics & Prose
offers superior service, unusual book choices, and a haven for
book lovers in the store and online. Visit them on the web at
HTML http://www.politics-prose.com/
#Post#: 3676--------------------------------------------------
Re: Money
By: AGelbert Date: August 29, 2015, 6:22 pm
---------------------------------------------------------
[quote author=Golden Oxen link=topic=261.msg84110#msg84110
date=1440881790]
[quote]Sure. Also applies if you go back since BEFORE we went
off gold.[/quote]
No it doesn't MKing, you are unaware of monetary history.
Why would they go off it and disparage it if it wasn't in their
way?
Your idea that the dim always use that the inflation is all
relative and can be kept up with is fallacious and fools talk as
well.
Your one of those people that applies your experience and
ability to cope to everyone else.
Go to a seniors center in your area and instead of ****ing about
your gout and bragging about your wonderful genes talk to some
folks petrified of how to get through the month on and 800
dollar Social Security check and their 10,000 in savings with no
interest on it. Good folks that worked all their life and
trusted their government and it's currency.
You are clueless about the misery inflation inflicts upon
millions of our citizens; that goes for you to Eddie with your
callous insensitive remark about the price of hamburg. Be
thankful you can dick some poor bastard out of a couple of
hundred bucks because of a toothache; you may not always be that
fortunate. Inflation is government stealing from the poor and
the elderly as well as the trusting citizens of our country.
Praise the heavens you have the ability to manage it.
[img width=640
height=380]
HTML http://cdn.billmoyers.com/wp-content/uploads/2013/06/AP090812064526_crop-640x360.jpg[/img]
We’re proud to collaborate with The Nation in sharing insightful
journalism related to income inequality in America. The
following is an excerpt from Nation contributor Greg Kaufmann’s
“This Week in Poverty” column.
HTML http://billmoyers.com/2013/06/22/the-older-americans-act-and-u-s-seniors/
HTML http://billmoyers.com/2013/06/22/the-older-americans-act-and-u-s-seniors/<br
/> [img width=75
height=50]
HTML http://www.pic4ever.com/images/reading.gif[/img]
[/quote]
[center] [img width=125
height=130]
HTML http://www.createaforum.com/gallery/renewablerevolution/3-080515182559.png[/img][/center]
Apparently MKing, who accurately states that causality is
important to scientists ;), neglects to recognize the effects
of inflation, DELIBERATELY ENGINEERED EFFECTS for BANKER SWAG,
that CAUSE people on fixed incomes, like the older segment of
the population, to lose buying power to the point of having to
make choices between food and medications.
And that is just one of "coping strategies" that we-the-people
at the wrong end of the economic inflation mechanism have to
deal with. :(
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Inflation is analogous to a less sophisticated form of HFT (high
frequency trading). Like the HFT, market gaming, parasitical
mechanism designed to continuously take (steal) a tiny
percentage off the top, the ONLY reason fiat currencies are
created is for the express purpose of extracting a "first in
line" percentage of buying power off the top BEFORE the masses
have, NOT DRIVEN PRICES UP, but been FORCED to pay higher prices
because the value of an item reflects the increased fiat money
supply.
MKing sees everything in terms of supply and demand. That's
incorrect in regard to fiat currencies. There is no "increase"
in demand to raise the price of goods and services. There is
simply a leveling effect from the increased money supply. It's
an insidious effect, tantamount to wealth transfer (theft) form
the masses to the elite pigs.
So, the banker elites make a PROFIT off the inflation engineered
LOSS/MISERY of the rest of the populace.
This BLATENT cause and effect relationship of inflation seems to
go right over MKing's "causality is important to us scientists"
head.
I really wonder what part of INFLATION IS A WEALTH TRANSFER
MECHANISM FROM THE MASSES TO THE BANKER ELITE that MKing does
not understand.
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Anyone that claims this is about supply and demand, see below:
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#Post#: 3678--------------------------------------------------
Re: Money
By: AGelbert Date: August 30, 2015, 4:59 pm
---------------------------------------------------------
[quote author=MKing link=topic=261.msg84134#msg84134
date=1440893553]
[quote author=agelbert link=topic=261.msg84125#msg84125
date=1440890061]
Apparently MKing, who accurately states that causality is
important to scientists ;), neglects to recognize the effects
of inflation, DELIBERATELY ENGINEERED EFFECTS for BANKER SWAG,
that CAUSE people on fixed incomes, like the older segment of
the population, to lose buying power to the point of having to
make choices between food and medications. [/quote]
There is a difference between inflation, and poverty. If the
fixed income was high enough, there would be no problem.
Therefore, what you are describing isn't a inflation problem. It
is an income problem. To solve it is easy, double social
security payments. Nothing to do with banksters.b ;D
[quote author=agelbert]
And that is just one of "coping strategies" that we-the-people
at the wrong end of the economic inflation mechanism have to
deal with. :(
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You talk as though you have never seen the consequences of
poverty before? In the world I grew up in there was no income,
let alone someone guaranteeing a fixed one. God that would have
been great. As it was, medicine was home recipes and food was
something you better go shoot or grow, if you wanted to eat.
This fixed income gig sounds pretty good, I think everyone
should get one!
[quote author=agelbert]
So, the banker elites make a PROFIT off the inflation engineered
LOSS/MISERY of the rest of the populace.
This BLATENT cause and effect relationship of inflation seems to
go right over MKing's "causality is important to us scientists"
head. [/quote]
Because you saying it doesn't make it so. Causality does matter.
There are all SORTS of reasons that inflation happens, and all
SORTS of effects. And sure, banksters have been trying to
engineer a cut since banks and sters were invented. But
inflation isn't the only thing they want a cut of, they want a
cut of everything. You should see their percentage for setting
up M&A financing. And there is no loss/misery except….in YOUR
example…WHEN POVERTY GETS INVOLVED. And when I say POVERTY, I
only mean "not enough money for folks to buy whatever they want
or need" and this…THIS covers a lot more than what the
government might consider POVERTY.
All it takes is a new drug and $100G month to get it and
presto…Anthony is enraged that inflation did it!
Please.
[/quote]
MKing, you are using your scattergun approach again.
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/>course there is a world of a difference between abject poverty
and coping strategy choices from geezers on pensions like yours
truly. That goes without saying.
Social Security being doubled would just barely bring up the
buying power of a pensioner on Social Security to the level they
had 40 years ago. My point is that inflation EMBEZZLED/STOLE
that buying power from them.
Of course there are a lot of scams going on out there to fleece
we-the-people beyond inflation by the elite, be they bankers,
stock brokers, fossil fuel industry price shock fun and games,
Health Insurance Horsesh it and medical professional price
gouging, etc.
But inflation is the big enchilada. It takes a bite out of
EVERYTHING. It's the CAUSALITY of causalities, as far as buying
power erosion.
I hear ya on poverty. I never directly experienced it but I saw
pictures of how people lived in Puerto Rico in the 1930's in the
countryside.
In the cities, it was nice houses, cars, running water and
electricity. In the countryside, none of the above. The wooden
(not concrete like they have now) houses had thatched roofs (i.e
STRAW). The people mostly walked barefoot. Only city folk had
shoes. Bilharzia disease was rampant. TB too.
Only socialist government policies changed all that. The elite,
of which many fu cks in my family belong to, just did not give a
sh it. The elite never give a sh it, no matter where they live
and what their color is. But that is another sore subject. ;)
A cousin of mine is an Industrial Engineer (Georgia Tech
graduate). He worked for a pharmaceutical corporation. He told
me all about how much it costs to do what in those factories.
MKing, regardless of the fact that the money spent on research
is often lost (and needs to be recovered through successful drug
sales) because many research projects are a dead end, the
pharmaceutical corporations are involved in world class price
gouging, FAR and above covering the research costs base.
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There is NO EXCUSE for the ROUTINE 2,000 to up to 40,000% mark
up on cost on pharmaceutical drugs, PERIOD!
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#Post#: 3679--------------------------------------------------
Re: Money
By: AGelbert Date: August 30, 2015, 5:08 pm
---------------------------------------------------------
Agelbert NOTE: Eddie is a Dentist from Texas.
[quote author=Golden Oxen link=topic=261.msg84174#msg84174
date=1440967052]
[quote author=Eddie link=topic=261.msg84172#msg84172
date=1440960549]
that goes for you too Eddie with your callous insensitive remark
about the price of hamburg. Be thankful you can dick some poor
bastard out of a couple of hundred bucks because of a toothache;
you may not always be that fortunate. Inflation is government
stealing from the poor and the elderly as well as the trusting
citizens of our country. Praise the heavens you have the ability
to manage it.
As usual, you miss my point. I mentioned food because we all
know food costs are rising quickly . I wasn't being callous, I
was trying to understand what's happening with the money.
Considering inflation vs. deflation in assets, ask yourself what
happens when food costs eat up a bigger and bigger piece of John
Q. Public's income?
Answer: He spends less and less on anything else, including
asset purchases of any kind. So when it comes to assets, higher
food prices would seem to me be to actually be deflationary, and
not inflationary.
This is not something that is generally understood, but it makes
sense to me when I look at what's going on. Rising prices are
only half the equation for inflation. Without more money in the
form of wages to spend into the economy, food prices can go to
the moon, and we'll still be in a depression.
[/quote]
This is the same fallacious and absurd point that another
brought up in the first Foss interview of late. The idea that
rising prices and taxes are deflationary, not inflationary.
I would like to know of one instance when the price of something
rising does not as an absolute fact mean less money is available
for something else. It is self evident, but to call rising
prices deflationary is the mark of someone so inept and
incapable of sound thinking and comprehension that they cannot
be reasoned with.
You and another here live in a world where rising prices are
deflationary and therefore by the same twisted, contorted,
imbecilic logic, falling prices are inflationary since they give
us more money to spend on other items. It's really amazing that
you would voice such buffoonery in public and be serious on top
of it.
Your thinking is backwards Eddie much as the backward reverse
thinking Diner mentor you no doubt pick up this insanity from.
As soon, and not until, you find the time to think clearly and
learn the difference between inflation and deflation; Alasdair
would be an excellent teacher, if you can find the time to
listen, I will be happy to continue the conversation with you in
financial matters.
Regards, GO
[/quote]
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height=130]
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#Post#: 3680--------------------------------------------------
Re: Money
By: AGelbert Date: August 30, 2015, 6:08 pm
---------------------------------------------------------
[quote author=Eddie link=topic=261.msg84190#msg84190
date=1440973957]
(From the inflation article you referenced.)
This seems to me to be the salient sentence in the Mises
Institute article:
When the Federal Reserve Banks bought the government's 2½%
bonds, say, at par, they held down the basic long-term interest
rate to 2 percent. And they paid for these bonds, in effect, by
printing more money. This is what is known as "monetizing" the
public debt. Inflation goes on as long as this goes on.
If almost all the money the Fed created went into the the
current equity market bubble, which is badly leaking now and apt
to burst, taking the major stock indexes back to some point as
far below the mean as they are above it now, then all the phony
money the Fed created goes up in smoke. That, my expert friend,
is most assuredly NOT inflation.
I think right there is where the traditional understanding of
inflation fails to explain our current circumstances.
[/quote]
[quote author=Eddie link=topic=261.msg84183#msg84183
date=1440972736]
I am listening to Alisdair now. I hear him talking about the Fed
having to helicopter money, which is something I mentioned
earlier in this thread last week, and which you stated
unequivocally would not occur.
Your suggestion that my fallacious thinking is the result of
someone or another's mentoring here or elsewhere is wrong.
Fallacious or not, it's based on my own critical thinking
skills, and it's an attempt to put the big picture together by
engaging in an open discussion of what we see happening in the
real world.
I notice that any time I might say something that questions your
world view, you react in a personal way, impugning my mental
faculties, which I don't appreciate. You're much better at that
than you are at making real arguments, which is what I'd much
rather engage in, in a thread like this one.
I don't argue that the ultimate end game of currency debasement
is a recipe for a fast economic collapse and a hyperinflation.
But as Alisdair himself says in this interview you posted, we
are not nearly there yet. Selfishly, what I want to understand
is a roadmap for how to negotiate the near term future.
The currency wars are rewarding savers of USD cash money at the
moment, in a very big way, for those with the means to exploit
the arbitrage opportunities to exchange some of their fiat for
real goods and for gold, too.
We are also experiencing real and easily measurable deflation at
the moment, by nearly any reasonable metric. Commodities say we
have had steady deflation for five years. The velocity of money
is dropping faster than it did between 1929 and 1932. Welcome to
Reality Check 101.[/quote]
Eddie,
So how come the average Joe used to be able to take a two week
to one month vacation each year and own a car and house too, but
NOW they can't while YOU still can?
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Maybe you want to attribute it to your education and business
smarts. I am not trying to impugn your intelligence or ability,
but I am, right there with GO, claiming you are engaging in self
serving rationalizing. ;)
When I was a kid, doctors and dentists MOSTLY lived a middle
class existence. Something has gone very wrong since then. That
"something" involves, to a high degree, inflation caused buying
power erosion of people on wages or pensions.
But there is more to that society destroying inequality
calculation. That is the FACT that professionals who own their
businesses are exceeding in their buying power, not just
published inflation, but actual inflation. They became much
wealthier, as a group, than professionals with the SAME level of
education and intelligence as peers on wages in a hospital or
prison or military service setting.
Health care has become more of a business than a vocation. That
is wrong, Eddie. There is no socially valid reason for a doctor
or a dentist be remunerated any better than they were when most
of them were middle class in the 1950's.
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