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The 3 countries that are examples that you said didn't exist.
I have no idea why you think mentioning small countries is some how giving an example of the modern global currency regime or even an example of something similar to the US monetary system. Its apples to oranges. But, as I said you are going to believe whatever you wish. I'm not going to bother getting in the way of that.
Excessive demands on surviving employees is wearing thin but, fear and desperation will always prevail.
2010 is shaping up to be another record year for profits on flat to decreasing sales - no pay raises for the 3rd year and no bonuses for the second year.
Not sustainable. The 1st trend seems inflationary for wages so that's good, the second one is not good for the economy as a whole. The whole report is rather gloomy.
I have no idea why you think mentioning small countries is some how giving an example of the modern global currency regime or even an example of something similar to the US monetary system. Its apples to oranges. But, as I said you are going to believe whatever you wish. I'm not going to bother getting in the way of that.
Nice try but no cigar. I asked you to define what you meant and after the disgust you expressed towards even being asked. you said.
"Namely, a global system of fiat currencies that freely float against each other".
I asked you to provide a definition because you often add qualifiers and change definitions after the fact to cover your tracks. I give you 3 examples, you have dismissed them all. Germany was too long ago and the other two are not like the USA. haha. As I said in the other topic, man-up. If you want anyone to take you seriously, then admit when you are wrong. It's only the Internet, it won't hurt you.
I give you 3 examples, you have dismissed them all.
Right, none of them are examples of global currency regimes. The two recent examples you gave are fiat currencies, but backed by rather small and insignificant countries. The problems they are currently observing are directly related to their small size. It is much more difficult to maintain faith in your currency when your population is 300k or GDP is pathetic.
Maintaining your own fiat currency as a small nation is difficult, that is what these examples show. They show nothing about the US dollar, Euro, etc and definitely don't say anything about a global currency regime.
Right, none of them are examples of global currency regimes.
Luv, you originally said there are no "viable historical examples" as the reason that everyone here is lacking of thought and intelligence. This was how you rebutted someone's comment about governments going overboard by printing too much money. You accused everyone here of being vacuous who thought this.
So you have been given Germany as an example. Your response, it happened too long ago.
You were given Iceland that did this. Your response, only 300,000 people live there.
You were given Vietnam who did this. Your response, not modern.
I would add the USA, the UK, Greece, and a number of eastern European countries to this, but it would not matter. This isn't the point and I am not interested in playing word games.
These are all valid examples given your original criticism that nobody here knows what they are talking about, i.e. your accusation that talk here is vacuous. I think that insult has now been thoroughly debunked as you can't defend it even though you created page after page of one liners and silly rhetoric such as "modern currency regime" whose meaning changes with every post. iMO, ambiguous statements and being purposely vague and misleading is worse than vacuous. It's a waste from someone who could obviously be making a better contribution here.
Sorry. If you want relevant conversation, you have to be willing to be relevant. As I said earlier, man-up and admit you were wrong about accusing people here of being vacuous. You might gain a little respect for it.
Luv, you originally said there are no "viable historical examples" as the reason that everyone here is lacking of thought and intelligence.
This is what I stated:
"The modern currency regime is rather new, how does one know that it "always" results in X when there are really no viable historic examples?"
I'm perfectly aware of the past experiments in fiat currencies, hence why I stated "there are really no viable historic examples" rather than saying "there are no historic examples". The issue being that these past examples do not tell you much about the modern currency regime, they existed in a much different environment. Hence, your response has been ridiculous from the beginning. The key issue is whether these other examples are at all similar to the current system. My claim, is obviously that they are not. Instead of addressing this issue, you've instead listed "examples" which I tacitly acknowledged with my initial comment.
You seem to be interested in little other than sophistry and trying to distort what is actually being said. Its a bit amusing, but otherwise banal.
Also, my usage of "modern currency regime" has been the same throughout the thread. As I stated, I'm referring to the current global system of floating fiat currencies. This system has been in place since the 1970's.
User, you obviously have a good grasp of the issues and I appreciate your input. But please tell me how the US is gonna get out of this monetary hole? Do you think the deficit will ever be paid back? Americans' incomes are dropping and the 1% ultra-rich are good at avoiding taxes, so there's no way to increase tax revenue in the US in any significant amount. We're headed for fiscal armageddon, it's just a matter of when. The goons at the top will try to inflate us out of it just like Mugabe in 'Babwe. Or do you have a better idea?
The business cycles have been more moderate since the creation of the FED. The big exceptions are the depression and today, but many things were not understood in the 1930's as far as monetary policy goes.
But please tell me how the US is gonna get out of this monetary hole? Do you think the deficit will ever be paid back? Americans' incomes are dropping and the 1% ultra-rich are good at avoiding taxes, so there's no way to increase tax revenue in the US in any significant amount.
You are working from faulty premises here. The current deficit is not particularly problematic, other developed nations have been able to run higher deficits for long periods of time without having any sort of crisis as a result. Secondly, the deficit does not need to be paid off in a year or even a few years, rather decades.
Even in the US the deficits were higher in WW2 in relation to GDP than they are now. Under your logic, the US should have been in "fiscal armageddon" and seen rapid inflation, but neither occurred.
Quote:
Originally Posted by POhdNcrzy
We're headed for fiscal armageddon, it's just a matter of when. The goons at the top will try to inflate us out of it just like Mugabe in 'Babwe.
No we are not, the worst part of the crisis is largely over. Now its just a matter of recovering from the recession. The "goons at the top" will not try to inflate because they know very well that that is not a solution to anything.
Well, seeing every taxpayers owes back about $450,000 or so, I have no idea how we are going to pay this off. I can't afford it. The governments only solution is what has been done throughout history...to print money and attempt to pay off their debts while destroying the dollar and leaving everyone else to suffer.
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