Announcement

Collapse
No announcement yet.

The Future of USA Finances

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • #16
    Originally posted by TexasHusker View Post

    Huh? You lost me on that one. How is it exactly that striving to have high morals has been the root cause of racism and hate? There's nothing particularly moral about either of those.
    We have said that morality is subjective and at best circumstantial. So you can strive to have your version of actions you deem moral all you want, just don't think of it as "high" because that's a measure of comparison...aka you are judging some other sets of actions not qualifying for the "high moral" moniker therefore judging it subjectively as less moral or immoral.

    "Objective morality" is only thrown around by religious people who thinks the bible has some kind of authority on the matter. But to show you how morality is actually subjective, I refuse to have my children study the bible until they are adults because I find God to be a terrible role model doing what I considered to be immoral things all the time, and those behavior should not be worshiped. You have millions of people who thinks otherwise.
    Last edited by Singuy; 08-09-2019, 09:45 PM.

    Comment


    • #17
      Originally posted by Singuy View Post

      We have said that morality is subjective and at best circumstantial. So you can strive to have your version of actions you deem moral all you want, just don't think of it as "high" because that's a measure of comparison...aka you are judging some other sets of actions not qualifying for the "high moral" moniker therefore judging it subjectively as less moral or immoral.

      "Objective morality" is only thrown around by religious people who thinks the bible has some kind of authority on the matter. But to show you how morality is actually subjective, I refuse to have my children study the bible until they are adults because I find God to be a terrible role model doing what I considered to be immoral things all the time, and those behavior should not be worshiped. You have millions of people who thinks otherwise.
      So there are no universal right or wrongs?
      How can you have any pudding if you don't eat your meat?

      Comment


      • #18
        Originally posted by TexasHusker View Post

        So there are no universal right or wrongs?
        I would say that there definitely are. Genocide, slavery, rape. Always wrong.

        Comment


        • #19
          Originally posted by Milly View Post
          I have a doom and gloom outlook for America. I don't like it, but I don't see a good way around it either. Would someone please refute my train of thought below with something other than "we haven't had a problem yet" or "the world didn't collapse last time XXX happened", at least not a convincing argument as to the why.

          National Debt:
          The debt ceiling is being suspended until mid-2021. I expect government spending to at a minimum continue to ramp up at its current pace, but it may also skyrocket without the threat of a political nightmare of a government shut down.
          The 2020 election is putting pressure on politicians to give free things and cut taxes without sacrifices of programs (both versions of a free lunch). If politicians who will be up for reelection in 2020 want to win, they may have to get some programs in motion before the election.
          Basically, it is very obvious that the debt will not be coming down any time soon.

          Foreign Reserves:
          The only reason foreign countries are buying US dollars for goods is because they feel confident that they can continue to use those dollars for other products, specifically oil. Since the 1970's countries have had to buy middle eastern oil with US dollars. This system isn't as strong as it once was. Russia and China are looking to setting up their own currency exchange to settle between the two of them. The US throws its dollar's weight around and uses the threat to remove a country from the system as a very effective economic weapon. The world is not tolerant of this and is looking for a chance to get out from under the dollar.

          Asset Inflation:
          The M3 money supply has been growing at about 5%ish since 2012, yet our experienced inflation has only been about 1.6% over that same time frame. Why? because most of that money is being held oversees or locally as investments. That's why we only see the inflation in asset prices, investment prices.
          If we can keep this asset balloon growing, our only issues are expensive assets, but the larger it grows before it pops, the more dramatic.
          Lots of money has been stored up as potential energy for inflation.

          US Debt Servicing:
          If any major buyers of US debt decides that they don't want to keep rolling over their short-term certificates, the bond prices will drop and the Feds will have to buy the debt themselves to keep the rates at a serviceable level. Unlike the QE periods following the 2008 housing collapse, this time, it will be pretty obvious that this is debt monetization and that the Federal Reserve will never bring its balance sheet back to zero. More countries and investors will realize it doesn't make sense to buy US debt and the cycle will increase.

          Inflation:
          If our creditors stop renewing their debt, or sell their debt, they end up with US dollars, lots of them. What do you think they'll do with them? Maybe they'll buy products we have, forcing prices up. Maybe they'll vacation here and hire out our service sector with money that can be obtained for next to nothing in their country. Maybe they'll buy up our land and commodities. Probably whatever is the best deal, they'll do until something else is the best deal. It will be a hard life in America to compete for resources.

          What am I missing? Why are countries still buying our debt despite the obvious lack of responsibility and acceleration of spending?
          national debt - doesnt matter much unless we increase it way faster than we already are. we export the effect on increasing debt and spending on the rest of the world.

          foreign reserves - they've been trying to do this for years. europe has eu, doesn't affect anything much. china has the largest population, doesnt matter much. The US is an economic powerhouse, other countries need the US more.

          inflation - official measure of inflation, which you could argue is misleading is very tame. again, effects of inflation is tamed by export of US dollars
          US Inflation Rate Falls to 4-Month Low. The US annualinflation rate fell to 1.6 percent in June 2019 from 1.8 percent in the previous month and in line with market expectations.

          Debt servicing - fed will QE, and has been QEing. nothing new.

          youre worrying yourself into a tizzy over nothing. people gloomed and doomed in the 60s, 70s, 80s, 90s, 00s, etc. Some people are even living in underground shelters with a 20 year supply of canned beans waiting for the US economy to crash and anarchy to begin. Your choice if you want to live like that. The US isn't where it is today economically by accident.
          Last edited by ~bs; 08-10-2019, 04:17 PM.

          Comment


          • #20
            Originally posted by Petunia 100 View Post

            I would say that there definitely are. Genocide, slavery, rape. Always wrong.
            If there is no absolute right or wrong, what would make these wrong? Slavery has existed throughout human history and still exists today. Genocide has been done in the name of "rights" a nation's, a mother's, etc. since the beginning of time. Who decides that it is wrong, and by what rationale? Who decides which form(s) of genocide are right?

            Generally, we do "work arounds" on things that are considered wrong by relabeling them with terms that are more palatable. Genocide = ethnic cleansing, choice. Ponzi Scheme = Social Security
            Last edited by TexasHusker; 08-11-2019, 01:31 PM.
            How can you have any pudding if you don't eat your meat?

            Comment


            • #21
              Originally posted by TexasHusker View Post

              If there is no absolute right or wrong, what would make these wrong?
              I just said that there "definitely ARE" universal rights and wrongs, so your question makes no sense.

              Comment


              • #22
                Originally posted by Petunia 100 View Post

                I just said that there "definitely ARE" universal rights and wrongs, so your question makes no sense.
                Let me rephrase the question...how do we arrive at universal rights or wrongs? If we as a country have a referendum and deem slavery legal, and the Supreme Court goes along, does it then become right?
                How can you have any pudding if you don't eat your meat?

                Comment


                • #23
                  Originally posted by TexasHusker View Post

                  Let me rephrase the question...how do we arrive at universal rights or wrongs? If we as a country have a referendum and deem slavery legal, and the Supreme Court goes along, does it then become right?
                  We arrive at universal rights and wrongs by simple reasoning, I suppose. When slavery was legal in this country, it was still wrong.

                  Comment


                  • #24
                    Originally posted by ~bs View Post

                    people gloomed and doomed in the 60s, 70s, 80s, 90s, 00s, etc. Some people are even living in underground shelters with a 20 year supply of canned beans waiting for the US economy to crash and anarchy to begin. Your choice if you want to live like that. The US isn't where it is today economically by accident.
                    Exactly. People have been predicting the collapse of the financial system for as long as there has been a financial system. It hasn't happened yet. Could it happen someday in the future? Sure. But we could also be invaded by aliens someday in the future. I'm not doing anything special to prepare for that and I'm not doing anything special to prepare for an economic collapse.
                    Steve

                    * Despite the high cost of living, it remains very popular.
                    * Why should I pay for my daughter's education when she already knows everything?
                    * There are no shortcuts to anywhere worth going.

                    Comment


                    • #25
                      Milly, I got the impression that you don't have a well. Is that correct? We have a well and the day that the electric goes out, we have no more water as it takes electricity to pump it up. However, our water table is so high, that when the lights go out, then the sump pumps stop working and the basement immediately starts filling up with water. Currently, due to the near-daily rainstorms, we have been having the septic is working at full capacity and so we have toilets that are burbling and drains make weird noises, etc. The joys of not being on city water and sewer! We also have to filter all the water that we drink as we aren't sure of its content and with my RA I don't want to be drinking the sulfur smell, nasty water and who knows what is in it. Taking a bath in it when I was still able to get in and out of the tub was like sitting in a witches cauldron. Just saying you don't have to wait long to lose the electric either. At least once a year we have an extended blackout. We heat with propane and if that isn't delivered we have another problem, Two years ago over New Years weekend, the driver filled up my in-law's tank, ignored ours and went on his merry way on Friday. We were out of propane by around 5-6PM, We left messages, etc. We did not get any propane until late Tuesday afternoon even though I had called first thing in the morning to get here pronto. Of note, it was the coldest weekend of the year. Bitter cold in a house with no propane and no fireplace. We heated with our oven and one small electric heater and bundled up. The last thing someone with my condition is to get her joints cold. When we finally talked with the boss, he came to the house, gave up a sincere apology and because just those 4 days had doubled our electric bill he gave us a $250 fuel credit.

                      Our lives are so different than back in the day when people were more able to live off the land so to speak. But you do what you can such as keeping your pantry full, paying off bills (those companies, no matter what is going on will still want their money), learning to live frugally. Last week I threw out a pair of shorts that I have had and had been wearing since 1992. There was nothing wrong with them until I pulled them out this summer and the elastic had become crispy. How are women and teen girls especially be able to cope with not being able to shop and replace clothing what, every 5-10th wearing? I still remember getting a jumper at the Goodwill for $4. I wore it at least 200+ times before it finally bit the bullet. I think that if things do go bad and I don't think it will get that bad but I don't know, too many people have no clue how to survive without help. No one is teaching anyone how to cook for the most part. We let McDonald's and the others cook for the nation or TV meals. So few can sew, etc. If someone truly thinks that our society will collapse they have some heavy-duty things to learn in the meantime, but unfortunately I don't think they will.
                      Gailete
                      http://www.MoonwishesSewingandCrafts.com

                      Comment


                      • #26
                        I'm amused how TH can completely change sides just for the sake of continuing an argument. "Women create their own sex objectification by not wearing enough clothes" "I have high morals" "There are no universal right and wrongs"

                        Comment


                        • #27
                          This whole argument makes me appreciate the stock market even more. There are no shades of right and wrong - either you have a return or you don't, there isn't any grey area.
                          james.c.hendrickson@gmail.com
                          202.468.6043

                          Comment


                          • #28
                            Originally posted by TexasHusker View Post

                            So there are no universal right or wrongs?
                            Yes, universal right or wrongs exist.

                            Universally, 1+1 = 2 and that is right. 1+1=3 is universally wrong.

                            No one commits any action that they believe to be wrong. When a husband decided to choke his kids and strangle the mother, then put them in an oil barrel, that husband decided to believe what he was doing is the right thing to do. It is in fact how decisions are made. Once anyone makes a decision and committed to carry out on that decision, that decision is the RIGHT decision for that person. So all of this is subjective but if enough people vote deemed one action to be more "right" than the other, then the society can carry out punishment for people who choose what society deemed as the wrong decision.

                            Historically people find themselves to be able to enjoy better standard of living through cooperation rather than destruction. So punishment has been carried out to those who doesn't cooperate well which collectively decided that these people hinders progress.

                            People's behavior are highly debatable, so universally only mathematics are considered to be either RIGHT or Wrong.

                            Comment


                            • #29
                              Originally posted by disneysteve View Post

                              Exactly. People have been predicting the collapse of the financial system for as long as there has been a financial system. It hasn't happened yet. Could it happen someday in the future? Sure. But we could also be invaded by aliens someday in the future. I'm not doing anything special to prepare for that and I'm not doing anything special to prepare for an economic collapse.
                              Yep...remember the Y2K scare?

                              Comment


                              • #30
                                Originally posted by riverwed070707 View Post
                                I'm amused how TH can completely change sides just for the sake of continuing an argument. "Women create their own sex objectification by not wearing enough clothes" "I have high morals" "There are no universal right and wrongs"
                                You're either easily amused or really bored. Or both!
                                How can you have any pudding if you don't eat your meat?

                                Comment

                                Working...
                                X