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I agree. Central bankers are just as clueless as they are useless. Government and central bankers are not the solution to the problems they themselves create.
Ironically, Jim Rogers doesn't have a clue how central banks work.
He has, however, managed to make plenty of money in spite of that. Sort of like Peter Schiff.
Ironically, Jim Rogers doesn't have a clue how central banks work.
He has, however, managed to make plenty of money in spite of that. Sort of like Peter Schiff.
Yeah that's the thing about market gurus who use their success as evidence for their supposed brilliance: we don't really know if their success was due to skill or just dumb luck. We only hear about the successes, and never the failures.
From what I remember; Jim Rogers always says that his investments will pay within the long term (15 years or more),
but some people remark his alleged mistakes way before the 15 years.
at least when economist are out of work they understand why. the pro's with phd's can't get this stuff right , but our amateur economist wannabees here have all the answers figured out . go figure lol
no one said we can stay at zero , but if you want to argue the fact , low rates have helped more Americans then hurt them since most with some bucks saved made it back elsewhere .
argue all you want but you would be wrong , they already have the existing debt .
Well you are not even arguing or debating. You are just telling people they are wrong. All they had to do was have an SS holding holiday which would have added liquid funds to the economy. Then they could have simply spent money on infrastructure like they generally should during down turns like any sane policy would, not merely because it stimulates, but because it cheaper.
That would have provided plenty of private sector, debt free funds while still punishing both bad debtors and creditors alike. So your empty rhetoric, much like mugging helps muggers make ends meet, is lost on me. You cannot even argue this with the national debt mythology, they handed Treasuries to the banksters. Take the same Treasuries and stop SS withholding... So save it for some jackass who believes in jackass economics.
What is your evidence of this? Hell even I have money market accounts that don't throw off cash as of now. I also don't have my retired mother in 100% equities. That's two people I know already.
How many people have low interest rate mortgages, revolving debt, etc. versus statistics on the average amount of money Americans have in savings? Not even close.
How many people have low interest rate mortgages, revolving debt, etc. versus statistics on the average amount of money Americans have in savings? Not even close.
There you go. The plan of the Banksters. Put people in debt for life and then tell them how lucky they are.
Sixteen tons and what do you get,
Another day older and deeper in debt,
St. Peter don't you call me 'cause I can't go,
I sold my soul to the company store.
100 years of building a middle class, with independent finances and security, destroyed in two decades by the Loan Sharks. It's an old trick and of course we now have a whole generation of huksters to spread the Gospel of Debt.
Copper is going low cause industrials are in a major recession.
Copper has no use but big industrials.
I could say there is also some capacity build up
But i think base metals will remain low for a long time.
Nobody's building big plants.
Gold seems like a good investment.
It may hit $1500 at some point this year.
Construction, homes, infrastructure....those big project capex items that tell me companies are scaling up to feed all of this great new demand from the terrific, growing economy....
I can give you two. Both of them have something to do with silver. One thing that helped Europe's liquidity was the Americas. Adam Smith in his book mentioned the price of silver due to Peruvian silver mines.
The other example was when the US demonetized silver ands cause the depression in the 1870s. It took several decades but what finally ended the silver monetary battle was an increase in the supply of gold.
Both examples are an increase in the supply of base money, not cause bankers decided to make nicey, nicey on credit.
Any idea on how to increase base money now? Perhaps you'd be interested to know base money is now da guberment debt. There is only one gold or silver mine in the world now.
Wow. You've got it figured out. As luck would have it, I can indeed sell you a....excuse me...THE gold mine if you're ready to part with some stupid fiat currency.
Illinois’ political leaders said the goal of this tax hike was to pay down the state’s backlog of bills, stabilize the state’s pension crisis and strengthen its economy.
My state explicitly raised taxes including sales and income taxes because of pension fund short falls. How again did taking 2% out of everyone's pay check, and raising corporate taxes in a large state like Illinois stimulate the economy again? Bit confused on that....
That isn't the only one. Same thing at the municipal level.
Last fall, Mayor Rahm Emanuel proposed — and the City Council approved — a 2016 budget with $755 million in tax and fee increases, including the largest property tax hike in modern Chicago history to cover contributions to pension funds for police officers and firefighters.
Yes I did refinance and I was able to save a few hundred a month. However that cost me refinancing fees to get it. In a normal inflationary environment it would have been far better to pay down my mortgage with rising income.
Another twist on this is low interest rates just turn into housing capital. First time home buyer will just see higher principle balances on "lower rates" . Big stimulus there too. It is also a wee little problem that low interest rate environments make qualifying for loans more difficult. One of my friends had trouble qualifying for a refinance. Those under water could not do so at all.
So again, its no surprise that low interest rates have still resulted in stagflation. At best the effect was marginal. Its possible that the net result might make a little difference, but with saving short falls, tax hikes, delayed retirement and lower retirement income , there is a lot of head wind.
Illinois' pension woes have much more to do with politics than with low yields. Illinois, like numerous other states, assumed unrealistically high rates of return on their pension fund investments which allowed them to put less into the pension fund(s). This was exposed by the Great Recession. Illinois and its municipalities delayed dealing with problem immediately, which only made matters worse. Of course, if they had dealt with the problem in 2010 or 2011 like several other states did, they wouldn't have the problem now in 2016.
Assuming a 10 or 12% annual yield from investments over a long period of time is unrealistic. That scenario is going to result in underfunding the amount needed for retirement whether that retirement is funded by an individual or a pension fund.
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