Getbig.com: American Bodybuilding, Fitness and Figure
Getbig Main Boards => Gossip & Opinions => Topic started by: Palumboism on October 22, 2019, 08:19:05 PM
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Pretty accurate assessment of America's economy.
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invest in my precious metals or ill shoot this kitten-peter schiff
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these perma bears bore me.
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Bitcoins.
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Bogle, an honest man.
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these perma bears bore me.
This!!
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Bogle is / was a legend!
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Our economy is going to get even stronger if we get this one way trade with China corrected. Nope, our economy is fine. Liberals are hoping for bad economy.
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Our economy is going to get even stronger if we get this one way trade with China corrected. Nope, our economy is fine. Liberals are hoping for bad economy.
Have wages gone up?
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Conspiracy in the days of Noah by Mark Goodwin. Audiobook on YouTube, give it a listen.
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I still believe the next bubble popping will be high rise apartments...They are obscenely expensive and unpleasant to live in...and the number of people with the money to live in them as a percentage of the population is declining.
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Have wages gone up?
Yes.
At a 10-year high, wage growth for American workers likely to keep accelerating
(https://ei.marketwatch.com/Multimedia/2019/03/08/Photos/MG/MW-HF319_CES050_20190308084423_MG.png?uuid=484bd1de-41a8-11e9-b36e-ac162d7bc1f7)
Hourly pay earned by the typical employee rose sharply in February, pushing the increase in wages over the past year to a 10-year high of 3.4%.
https://www.marketwatch.com/story/at-a-10-year-high-wage-growth-for-american-workers-likely-to-keep-accelerating-2019-03-08
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Have wages gone up?
Yes, demand for labor is high.
Employers are scrambling to find workers.
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Every time the US economy is doing well, the doomsday prophets come out in full force. It's a thing you know. Every economy since the beginning of time cycles up and down . Sitting in an ivory tower predicting an economy will eventually cool off is like predicting winter in the Northeast. Yes- eventually it will snow...
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Trump has done alot of Changes to help the US economy, which obviously helps. Pushing back China and Japan with trade wars, cutting back on costs etc.
But the economy is also psycological to an extent. With Trump alot of highly productive individuals would see optimism. Over-optimism causes bubbles.
So it's probably abit of a bubble aswell and it will even out abit in coming years. If Trump doesn't get re-elected highly productive individuals will see pessemism and the economy will sink like a stone as result.
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Yes, demand for labor is high.
Employers are scrambling to find workers.
No, they just say that so they can load up on H1B visas from India and China. Pay more and you'll find all the workers you need.
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Every time the US economy is doing well, the doomsday prophets come out in full force. It's a thing you know. Every economy since the beginning of time cycles up and down . Sitting in an ivory tower predicting an economy will eventually cool off is like predicting winter in the Northeast. Yes- eventually it will snow...
This!
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To sell gold you need to preach doom.
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Whatever Bogle says you can believe. That is all.
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Meth.
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Our economy is going to get even stronger if we get this one way trade with China corrected. Nope, our economy is fine. Liberals are hoping for bad economy.
Federal Debt: $22.9 Trillion
Corporate Debt $9.4 Trillion
Small business Debt $5.5 Trillion
Student Loans: $1.5 Trillion
Auto Loans: $1.2 Trillion
Credit Card Debt: $1.07 Trillion
Seriously, America is swimming in debt. Eventually that debt will have to be paid off, but to pay off debt you have to spend less than you earn. America's not very good at doing that. :-\
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He says house ownerships is lower than 10 years ago but individual debt gone up...
Also university loans gone throught the roof which makes new graduates spend less.
He also says all those flashy job numbers are mostly minimum wage part time jobs, most people need to extra art time jobs to make ends meet.
Also FED's resistance to raise interest rates are actually diminishing security funds against inflation on the long run (in 25 years healthcare, pension and other social security will not be servicable)
Trump is trying to control trade deficit against China (over 300B a year but it is not possible to produce all those goods in homeland (there is not enough labor force and also it is not possible to produce that much without exploding inflation, as prices would triple with US wagesagainst low cost China)
Agening population is another problem for all the world including China.
Japan has 400B deficit in its social security spending every single year.
So not only USA's, all the world's future is rather bleak...
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Seriously, America is swimming in debt. Eventually that debt will have to be paid off, but to pay off debt you have to spend less than you earn. America's not very good at doing that. :-\
No, it never has to be paid off.
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Schiff is a table thumping idiot.
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He says house ownerships is lower than 10 years ago but individual debt gone up...
Also university loans gone throught the roof which makes new graduates spend less.
He also says all those flashy job numbers are mostly minimum wage part time jobs, most people need to extra art time jobs to make ends meet.
Also FED's resistance to raise interest rates are actually diminishing security funds against inflation on the long run (in 25 years healthcare, pension and other social security will not be servicable)
Trump is trying to control trade deficit against China (over 300B a year but it is not possible to produce all those goods in homeland (there is not enough labor force and also it is not possible to produce that much without exploding inflation, as prices would triple with US wagesagainst low cost China)
Agening population is another problem for all the world including China.
Japan has 400B deficit in its social security spending every single year.
So not only USA's, all the world's future is rather bleak...
Yes, it's not only the USA, it's the whole world. China's printed over $30 Trillion dollars worth of Renminbi. There currency is basically worthless and that's why they're policing people moving money out of the country, because everybody knows it and wants something safe like Canadian or Australian real estate.
The jobs numbers were the real reason I started this thread. When Obama care came any employer with over 50 employees had to provide healthcare. You could be a franchise owner with five restaurants with eleven full time employees each and you still had to provide heath care. So the number of part time employees shot way up. If you had a part time job working just one hour a week it was counted as a new job created. Basically the government uses fraudulent math to come come up with their jobs numbers. That's why in the real world nobody sees all these millions of jobs created because they're all part time minimum wage jobs and people have the work four of them just to make as much as one real job.
He also talks about the false believe the government has that deflation is a bad thing. No it's not and it's the way the economy is supposed to work. A 32 inch flat screen tv today costs way less than a 32 in flat screen five years ago. That's deflation and it's a good thing.
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Also I read a rather chilling analyses.
It says to overcome an economic crisis, FED constantly lowered interest rates to half in each financial crisis over the last 40 years.
During the first Oil Crisis, it was 12 percent (those were high inflation days) to 6 percent help the economy.
Rates got lower and lower over the years.
At current rates, it is not possible to reduce rates (as it is practically negative if you put account QE) and Trumps tax cuts...
So with practical zero interest rates world can not overcome a potential financial crisis, which is just around the corner.
Schiff is damn too right, he gave credit to Trump when first elected, but Trump is a mess.
He is using all his weaponry such as tax cuts and pressuring FED for reducing interest rates.
Schiff is an honest man, he is pushing gold not because of his gold fund, he really sees economic doomsday, one need to blind not see anyways!
And I agree you about China, they are not in good shape either, they have overwhelming demographic problems.
Dollar will be devaluated soon.
Euro will be history even sooner...
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Yes, it's not only the USA, it's the whole world. China's printed over $30 Trillion dollars worth of Renminbi. There currency is basically worthless and that's why they're policing people moving money out of the country, because everybody knows it and wants something safe like Canadian or Australian real estate.
The jobs numbers were the real reason I started this thread. When Obama care came any employer with over 50 employees had to provide healthcare. You could be a franchise owner with five restaurants with eleven full time employees each and you still had to provide heath care. So the number of part time employees shot way up. If you had a part time job working just one hour a week it was counted as a new job created. Basically the government uses fraudulent math to come come up with their jobs numbers. That's why in the real world nobody sees all these millions of jobs created because they're all part time minimum wage jobs and people have the work four of them just to make as much as one real job.
He also talks about the false believe the government has that deflation is a bad thing. No it's not and it's the way the economy is supposed to work. A 32 inch flat screen tv today costs way less than a 32 in flat screen five years ago. That's deflation and it's a good thing.
That's not what deflation is.
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That's not what deflation is.
???
Deflation is the general decline of the price level of goods and services.
Inflation is the general increase in the price level of goods and services.
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???
Deflation is the general decline of the price level of goods and services.
Inflation is the general increase in the price level of goods and services.
A TV costs less now than 5 years ago because of efficiencies in production, better technology, etc.
My parents paid $450 for a 27 inch console color TV in 1968. $450 in 1968 is equivalent to $3,320 today! We weren't well off. They must have been crazy.
You can buy a 65" HD Smart TV for under $500 of today's dollars.
The reason is not due to deflation. It's due to better tech and production practices.
>
https://www.investopedia.com/terms/d/deflation.asp
What Is Deflation?
Deflation is a general decline in prices for goods and services, typically associated with a contraction in the supply of money and credit in the economy. During deflation, the purchasing power of currency rises over time.
Key Takeaways
Deflation is the general decline of the price level of goods and services.
Deflation is usually associated with a contraction in the supply of money and credit, but prices can also fall due to increased productivity and technological improvements.
Whether the economy, price level, and money supply are deflating or inflating changes the appeal of different investment options.
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I still believe the next bubble popping will be high rise apartments...They are obscenely expensive and unpleasant to live in...and the number of people with the money to live in them as a percentage of the population is declining.
In college areas this is very lucrative yung hoes pools ect
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Pretty accurate assessment of America's economy.
Wow, talk about a sales speech! Buy Gold and Silver was his message. LOL
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We are running out of other people’s money and the unfunded promises will reach $400 trillion by 2032. There is no possible way to fund that without a crash & burn. We are in the collapse of government and the socialistic promises since World War II are all coming due. Economically, this is a battle to the end. The left wants to confiscate all the wealth of the right. This is the end of the purpose of civilization and the beginning of pure tyranny.
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The problem for conservative/patriarchal Americans is that the strong dollar is going to choke exports, and then when the dollar peaks and starts to decline that will be economic collapse in the USA. This economic collapse can push left leaning, currently moderate progressives to align politically with the radical Left such as AOC.
We all know that economic hardship causes individuals to be more political resentful and aggressive (blame their plight on the rich for example). The blue collar workers in the Midwest could align with the radical left as their bankrupt State pensions exacerbate economic collapse. Additionally the Millennials will be in prime voting age and even GenZ will be of voting age (if they can be incited to vote by their horrible economic plight given the student loan debacle the Clintons created).
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He says house ownerships is lower than 10 years ago but individual debt gone up...
Also university loans gone throught the roof which makes new graduates spend less.
He also says all those flashy job numbers are mostly minimum wage part time jobs, most people need to extra art time jobs to make ends meet.
Also FED's resistance to raise interest rates are actually diminishing security funds against inflation on the long run (in 25 years healthcare, pension and other social security will not be servicable)
Trump is trying to control trade deficit against China (over 300B a year but it is not possible to produce all those goods in homeland (there is not enough labor force and also it is not possible to produce that much without exploding inflation, as prices would triple with US wagesagainst low cost China)
Agening population is another problem for all the world including China.
Japan has 400B deficit in its social security spending every single year.
So not only USA's, all the world's future is rather bleak...
Fractional reserve banking is a scam. Just because it's an institutionalized scam doesn't make a difference. Fractional reserve banking is by definition crony capitalism. If some 10 year old girls open a lemonade stand on the side of the road, not many people mind. If instead of lemonade they start to sell unbacked million dollar receipts for gold that doesn't exist, it's suddenly an emergency where they're deemed scam artists!
I don't believe in giving permits that grant special rights and privilege for some people to scam while for others it's illegal. Fractional reserve doesn't actually benefit anyone except the Jew scammers running the banks. For instance, the price of housing is derived from the debt/credit markets. If the credit markets freeze and 30 year loans disappear, well, the price of all houses now deflates to nothing since nobody is financing the cost of a house over a 30 year time span and the prices have to be marked to market to accommodate liquidity.
30 year loans can't exist without fractional reserve and it is not YOU that benefits from them, it is usury bankers. The act of having these lending windows based on fraud exist at all just inflates the cost of assets to the moon in bubbles. This means if anyone is taking these loans, now everyone has to take them as well even if you normally wouldn't or you'll be priced out of the market. Some people might think it's still worth it slogging through all this inflated asset price usury burden to be able to own a home, but in the end you don't even own it since you have to pay rent still (property tax).
This is why the housing market is the ultimate racket. You're being extorted due to the government mandated existence of fractional reserve jacking up the prices in bubbles, then even if you pay it off, it's still not even an asset. It's a liability you pay a fee on. All bubbles and systems built on fraud do crash, though. The fractional reserve system will blow up giving you a brief window of opportunity to buy at non-highway robbery prices every once in a blue moon utilizing a currency that is not affected by deflationary collapse (gold, silver, bitcoin if it doesn't die).
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keep mortgage rates low :) ;D
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keep mortgage rates low :) ;D
Low mortgage rates inflates asset prices.
Also it is not sustainable as in requires low interest rates ( after years and years of QE, interest rates MUST increase)
If no increase occurs we won't have any social services when are 65
Central banks all over the world try to postpone the inevitable
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think about the drivers of future growth:
- AI
- quantum computing
- biotech
- nanotech
- robotics
- and so on
However, we might see a stock market bubble like we had in year 2000, but we are quite far from that scenario right now in terms of stock valuations (price earning).
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Fractional reserve banking is a scam. Just because it's an institutionalized scam doesn't make a difference. Fractional reserve banking is by definition crony capitalism. If some 10 year old girls open a lemonade stand on the side of the road, not many people mind. If instead of lemonade they start to sell unbacked million dollar receipts for gold that doesn't exist, it's suddenly an emergency where they're deemed scam artists!
I don't believe in giving permits that grant special rights and privilege for some people to scam while for others it's illegal. Fractional reserve doesn't actually benefit anyone except the Jew scammers running the banks. For instance, the price of housing is derived from the debt/credit markets. If the credit markets freeze and 30 year loans disappear, well, the price of all houses now deflates to nothing since nobody is financing the cost of a house over a 30 year time span and the prices have to be marked to market to accommodate liquidity.
30 year loans can't exist without fractional reserve and it is not YOU that benefits from them, it is usury bankers. The act of having these lending windows based on fraud exist at all just inflates the cost of assets to the moon in bubbles. This means if anyone is taking these loans, now everyone has to take them as well even if you normally wouldn't or you'll be priced out of the market. Some people might think it's still worth it slogging through all this inflated asset price usury burden to be able to own a home, but in the end you don't even own it since you have to pay rent still (property tax).
This is why the housing market is the ultimate racket. You're being extorted due to the government mandated existence of fractional reserve jacking up the prices in bubbles, then even if you pay it off, it's still not even an asset. It's a liability you pay a fee on. All bubbles and systems built on fraud do crash, though. The fractional reserve system will blow up giving you a brief window of opportunity to buy at non-highway robbery prices every once in a blue moon utilizing a currency that is not affected by deflationary collapse (gold, silver, bitcoin if it doesn't die).
Thanks for the post
Interesting
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National Debt just surpassed the $23 Trillion mark.
I'm sure the Millennial's will have no problem paying this off with their work ethic. :-X
https://thehill.com/policy/finance/468600-us-debt-surpasses-23-trillion-for-first-time (https://thehill.com/policy/finance/468600-us-debt-surpasses-23-trillion-for-first-time)
https://www.usdebtclock.org/ (https://www.usdebtclock.org/)
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Fractional reserve banking is a scam. Just because it's an institutionalized scam doesn't make a difference. Fractional reserve banking is by definition crony capitalism. If some 10 year old girls open a lemonade stand on the side of the road, not many people mind. If instead of lemonade they start to sell unbacked million dollar receipts for gold that doesn't exist, it's suddenly an emergency where they're deemed scam artists!
I don't believe in giving permits that grant special rights and privilege for some people to scam while for others it's illegal. Fractional reserve doesn't actually benefit anyone except the Jew scammers running the banks. For instance, the price of housing is derived from the debt/credit markets. If the credit markets freeze and 30 year loans disappear, well, the price of all houses now deflates to nothing since nobody is financing the cost of a house over a 30 year time span and the prices have to be marked to market to accommodate liquidity.
30 year loans can't exist without fractional reserve and it is not YOU that benefits from them, it is usury bankers. The act of having these lending windows based on fraud exist at all just inflates the cost of assets to the moon in bubbles. This means if anyone is taking these loans, now everyone has to take them as well even if you normally wouldn't or you'll be priced out of the market. Some people might think it's still worth it slogging through all this inflated asset price usury burden to be able to own a home, but in the end you don't even own it since you have to pay rent still (property tax).
This is why the housing market is the ultimate racket. You're being extorted due to the government mandated existence of fractional reserve jacking up the prices in bubbles, then even if you pay it off, it's still not even an asset. It's a liability you pay a fee on. All bubbles and systems built on fraud do crash, though. The fractional reserve system will blow up giving you a brief window of opportunity to buy at non-highway robbery prices every once in a blue moon utilizing a currency that is not affected by deflationary collapse (gold, silver, bitcoin if it doesn't die).
Yes. Just YES on all that.
It doesn't make sense but the savers get killed and those up to their neck in debt are playing the game correctly. Your standard of living as a person with no debt is so much lower it's not even funny because the game is constant inflation of currency and asset prices to match.
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Yes. Just YES on all that.
It doesn't make sense but the savers get killed and those up to their neck in debt are playing the game correctly. Your standard of living as a person with no debt is so much lower it's not even funny because the game is constant inflation of currency and asset prices to match.
This. Dave Ramsey tells his audience to not have any credit cards or debt at all. The people who live like this have zero credit so if they take out a mortgage they pay higher rates and if they take out any loan at all for a car or anything else they pay through the nose. Saving money for the down payment on a house is a waste as well because as you are saving year after year the price of the house you want is going up as well. The smartest thing a person can do (but maybe unethical) is run up as much debt as they possibly can and file bankruptcy, rinse and repeat.