MORON Biden's Chief Economic Advisor Explains How Money Works

R

raven

TB Fanatic
You know how money works.

Economics is the art of
convincing you that you don't know how it works
AND that they do
AND if you give them your money they will give your more money back plus free stuff like a toaster.

(because you're greedy and think you can get something for nothing)
 
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R

raven

TB Fanatic
Luddite said:
A hundred year running joke...

Every member would be well served by reviewing MMT.
Modern Monetary Theory

I couldn't articulate it much better than this guy did.

Inflationary stress will be counter-acted by increased taxation...(Luddite's bonehead explanation)

Think this through... you won't think it funny.
Click to expand...
In MMT economic policy taxes are replaced by inflation.
 
R

raven

TB Fanatic
Have you noticed that "inflation" reduces the amount of extra money you have.
And the banks fixes inflation by increasing interest rates which also reduces the amount of extra money you have.
And the government fixes inflation by increasing taxes which also reduces the amount of extra money you have.

And that you never noticed you had extra money.
And none of that ever reduces prices.
 
P

philkar

Veteran Member
I am speechless and I don't even know why. I guess because what I have suspected-that no one in DC really knows, understands, or cares what is happening-while I continue to fret over what else I need to do. DC needs someone named Jean, who has raised a bunch of kids on her own, never been on govt assistance, who has managed to own a house and send kids to whatever higher education was appropriate that she could afford. Probably used the "envelope" system. Hey! That's a thought. Just what DC needs. A "Jean" with an envelope system! Bet she could have that placed cleaned up within 6 weeks!
 
K

KFhunter

Veteran Member
Their idea is really screwed up, this whole thing is just a thought exercise

“What if we take everything we know about money and flip the script?”

Lunacy
 
West

West

Senior
Thanks Loup.

But it's vary true that the fictional piece in the OP does in fact represents the level of stupidity of over half the populations education on what money is. Or how our currency works.
 
Toosh

Toosh

Veteran Member
These people are so corrupt that it doesn't matter that they understand. They do what they do because they can. None of them work for we the people.

Just think, this has been going on for a while and we just never knew about it before.
 
Knoxville's Joker

Knoxville's Joker

Has No Life - Lives on TB
They do not teach proper monetary policy anywhere now a days. The folks that do understand proper economics tend to make lots of money or run viable businesses.
 
Doc1

Doc1

Has No Life - Lives on TB
The journalist's basic question was why do we print money and why do we borrow money. The answer, though it goes through several needlessly complex intellectual gyrations, is that (among other things) the system is designed to constantly feed the central bankers. You will note that I used the plural "bankers" instead of the singular "banker."

Our central bank, the Federal Reserve, is neither federal. nor a holder of any substantial reserves. The Federal reserve is a privately owned bank and while the precise ownership of the bank is kept secret, it is known to be wholly or partially owned by various international bankers. That, and our rapacious tax system, is designed to constantly line the pockets of the international bankers.

Many US leaders, including Andrew Jackson, we strongly opposed to a central bank and Jackson actually shut down the one that existed during his presidential tenure.

The obvious question, which the journalist attempted to ask, is why, since we print our own currency, do we need a central bank and by extension, do we need taxes. It's a good question and since our government constantly engages in deficit spending, and since we print our currency into existence, why do we need to borrow at all? Why can't we simply create and print all of the currency we need?

The ultimate answer to that question is simple: We do it the way we do it so that the international bankers get their cut. Ultimately, it's really no more complicated than that.

Best
Doc
 
subnet

subnet

Boot
From the documentary web page

"A brilliant rewiring of our perspective on money, and a rallying cry for a new generation to overturn the tired dogmas of conventional economics" - Brett Scott (author Cloud Money)

smh
 
BUBBAHOTEPT

BUBBAHOTEPT

Veteran Member
LoupGarou said:
What is more scary is that it is a clip from a movie
Click to expand...
His so called past:
Bernstein stated he grew up in a "musical family" and aspired to be a professional musician as a young person.[8] Bernstein graduated with a bachelor's degree in music from the Manhattan School of Music where he studied double bass with Orin O'Brien. Throughout the Eighties Jared was a mainstay on the jazz scene in NYC.[citation needed]

He also earned a Master of Social Work from Hunter College as well as a DSW in social welfare from Columbia University's school of social work.[9][10] At Columbia, his dissertation advisor was Irwin Garfinkel.[11] He is of Jewish descent.[12]

He was a Obama Biden boy from the past.
There is more on this fool if anyone cares to read….. On his ECONOMIC CREDENTIALS .… :lkick:

THEN THERE IS THIS:
Mayorkis is not a clip from a movie however, check out his view on immigration….
 
TheHippie

TheHippie

Veteran Member

Frequently Asked Questions​

  1. If the government doesn’t need my money, then why am I paying taxes?
  2. Should we still tax the rich? (Yes! And more!)
  3. Does the US Federal Government need to sell Treasury bonds(securities)? What about Interest Rates and ‘debt sustainability’?
  4. Does it matter whether Congress spends first or taxes first?
  5. Does GDP have to grow in order to provide economic well-being, improved public services, and to pay back the ‘national debt’?
  6. Why do private banks get to create ‘bank money’, and where does that investment go?
  7. Don’t we need to ‘live within our means’?
  8. Does MMT only apply to the US? What about Eurozone and Global South countries?
  9. What is QE?
  10. What about Weimar, Zimbabwe, and Venezuela? Cases and causes of hyperinflation.
  11. If the US Federal Government is the issuer of the US dollar, then why does it borrow dollars?
  12. Inflation: what is the role of the Fed and interest rates?
  13. Is MMT dangerous? Do we really want our politicians to understand they have the power to create money? Won’t they run amok?
  14. Is Bitcoin the ‘money’ of the future?
  15. Does MMT say money has only ever been created by states?
  16. Try not to use the term ‘money’.
Click to expand...
 
20Gauge

20Gauge

TB Fanatic
raven said:
You know how money works.

Economics is the art of
convincing you that you don't know how it works
AND that they do
AND if you give them your money they will give your more money back plus free stuff like a toaster.

(because you're greedy and think you can get something for nothing)
Click to expand...
As an Economist, ( year 4 year degree ) this is not too far from the truth these days.

Each day, I am amazed at how little people really know about money and how it works. I really believe that 80+% of the people think that just printing money is okay. It is how things are done and have been done throughout history.

Each day, I am amazed at how many can not even generate a simple profit and loss statement .... I am not even asking about a balance sheet, but a simple, P and L. Heck they don't even know what a budget is about.

The fact we are 35 trillion in debt next month is not a surprise at all. I expect we will be at 50 trillion within 4 years no matter who is President.

We are at the middle stages of economic collapse.....

There is a Youtuber video showing the cost of a home in 2004 vs 2024 with 8% interest. They also compared it to what the average cost of a home was then and now, payments, and the average income of the American Family.......

What got me is that $420k is now the average cost of a home, $82k is the average family income, and $120k is the income needed on average to buy the average home.......back 20 years it was $42k income and $38k to buy that home.....

So then, EVERYONE who was average could buy a home, now? Only the top 20ish% of all families can now buy a home.

Our lack of knowledge regarding money is destroying this nation ( among 50+ other things )
 
20Gauge

20Gauge

TB Fanatic
continued.........

Many people ask why buy PMs..........

My thoughts regarding this is changing as time progresses......

Years ago I considered it an investment. Yeah I did. I could make some money at it. In reality, I did, but it was a lot of work. But I felt our money and the way we handled it was sound enough to last my lifetime if not longer.

Then as I got older, I came to think it was a bridge from one currency to another.... That the collapse would come and it may in my life time, but all I needed was enough to last from one currency to the new currency.... I never had a lot of cash in the bank, but enough to pay the bills and buy some things just in case.....

Now that I am in the 2nd half of my lifetime, ( I do expect to reach 100+ with today's tech ) I see things changing faster and faster..... example we are in stagflation similar to the 70s, but its impact is far worse. Then it meant getting some cheese from the government or maybe some food stamps.

Now it means you can not even afford the rent / buy a used car under 20 years old / the basics in life. None of these things were under threat in the 70s stagflation. Today? They are and far worse. We are starting to see the poor who have given up ( in my opinion ) are living and eating better than the average family.

We see debt rising so fast that it hard to comprehend. Can you really imagine what a trillion dollars really is? I can't. I have trouble with billions and that is a 1,000 billions.

Years ago we passed the ability to pay off the debt. We are now passing the ability to inflate ourselves out of debt ( yeah that is possible, but we screwed that up ). Our only option now is killing the dollar and hoping we stay together enough to create a new dollar ( digital or not ). I really believe we can not do that...yeah we passed that option also.

I now believe we need enough in PMs to last for several years of chaos. Times where you will use all of the BBBs. Our individual survival will be slim, less so if you don't have skills that are few and far between these days.

Example, what percentage of the population can change their oil, change a faucet, an outlet, cook a meal, harvest an animal, and grow some food???????

What do we need to do? Who knows, but I scoffed at the idea of 2 years of food was needed, After these last few days thinking, ( Yeah I do that some times ), even that may not be enough..........

I am at a crossroads for sure.....
 
L

Luddite

Veteran Member
I have come to the realization that the ONLY true middle class people will be government workers.

COLA raises. Adequate health care and retirement.

The rest of us will be the working poor or the departed...

The elite stay the elite.

Unless unintended consequences rule
 
R

raven

TB Fanatic
20Gauge said:
As an Economist, ( year 4 year degree ) this is not too far from the truth these days.

Each day, I am amazed at how little people really know about money and how it works. I really believe that 80+% of the people think that just printing money is okay. It is how things are done and have been done throughout history.

Each day, I am amazed at how many can not even generate a simple profit and loss statement .... I am not even asking about a balance sheet, but a simple, P and L. Heck they don't even know what a budget is about.

The fact we are 35 trillion in debt next month is not a surprise at all. I expect we will be at 50 trillion within 4 years no matter who is President.

We are at the middle stages of economic collapse.....

There is a Youtuber video showing the cost of a home in 2004 vs 2024 with 8% interest. They also compared it to what the average cost of a home was then and now, payments, and the average income of the American Family.......

What got me is that $420k is now the average cost of a home, $82k is the average family income, and $120k is the income needed on average to buy the average home.......back 20 years it was $42k income and $38k to buy that home.....

So then, EVERYONE who was average could buy a home, now? Only the top 20ish% of all families can now buy a home.

Our lack of knowledge regarding money is destroying this nation ( among 50+ other things )
Click to expand...
there you go being an economist. . . .you never going to understand money that way

BTW, the average cost of a home thingy. Apparently, a house has doubled in price (monthly payment) since 2022.

https://twitter.com/i/web/status/1786802830445289963
View: https://twitter.com/KobeissiLetter/status/1786802830445289963?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1786802830445289963%7Ctwgr%5E02a77d69822323b27786d00eb282ae2eeda913fa%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fncrenegade.com%2Fpage%2F2%2F
 
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Southside

Southside

Has No Life - Lives on TB
20Gauge said:
continued.........

Many people ask why buy PMs..........

My thoughts regarding this is changing as time progresses......

Years ago I considered it an investment. Yeah I did. I could make some money at it. In reality, I did, but it was a lot of work. But I felt our money and the way we handled it was sound enough to last my lifetime if not longer.

Then as I got older, I came to think it was a bridge from one currency to another.... That the collapse would come and it may in my life time, but all I needed was enough to last from one currency to the new currency.... I never had a lot of cash in the bank, but enough to pay the bills and buy some things just in case.....

Now that I am in the 2nd half of my lifetime, ( I do expect to reach 100+ with today's tech ) I see things changing faster and faster..... example we are in stagflation similar to the 70s, but its impact is far worse. Then it meant getting some cheese from the government or maybe some food stamps.

Now it means you can not even afford the rent / buy a used car under 20 years old / the basics in life. None of these things were under threat in the 70s stagflation. Today? They are and far worse. We are starting to see the poor who have given up ( in my opinion ) are living and eating better than the average family.

We see debt rising so fast that it hard to comprehend. Can you really imagine what a trillion dollars really is? I can't. I have trouble with billions and that is a 1,000 billions.

Years ago we passed the ability to pay off the debt. We are now passing the ability to inflate ourselves out of debt ( yeah that is possible, but we screwed that up ). Our only option now is killing the dollar and hoping we stay together enough to create a new dollar ( digital or not ). I really believe we can not do that...yeah we passed that option also.

I now believe we need enough in PMs to last for several years of chaos. Times where you will use all of the BBBs. Our individual survival will be slim, less so if you don't have skills that are few and far between these days.

Example, what percentage of the population can change their oil, change a faucet, an outlet, cook a meal, harvest an animal, and grow some food???????

What do we need to do? Who knows, but I scoffed at the idea of 2 years of food was needed, After these last few days thinking, ( Yeah I do that some times ), even that may not be enough..........

I am at a crossroads for sure.....
Click to expand...
Years ago we passed the ability to pay off the debt.
Just wait till it goes geometric.
 
Hfcomms

Hfcomms

EN66iq
We're already there. With a trillion in new debt every hundred days we are deep in the end game now.


currency-life-cycle_image002.jpg
 
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