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Balance the budget? How will you buy up the national debt when the national debt is the money supply? Treasury Notes? Fake equity. All it is is accounting since any note or fiat coin is still debt unless you want to go on another one of those phony metal ,ponzi schemes again.
The world wants our dollars for trade. We do not have to oblige them by supplying them with a supply. If we are buying back T-bills then we are making our money more valuable over time. If we are doing this as we head into the transition from being the world's reserve currency to not then we wont get a run on USD. You can run a budget surplus and not reissue the debt when it matures.
This will tend to lead to a orderly transition.
Quote:
Originally Posted by gwynedd1
Personally I think long term reserve currency status is impossible to maintain. So why bother? Thus my Triffin dilemma bias is on the domestic economy. Reducing the FIRE sector expense will help ease that issue anyway.
Ya and that is easier said than done. The only functional way I know of is to use inflation.
The Fed is charged with keeping markets from crashing. The Fed will take action to stabilize the bond market if it destabilizes.
Quote:
Originally Posted by gwynedd1
Is it really money or just power at that level? . I say money chases goods and services. At that level they purchase provinces. Nobody is running out of shrimp. If I had a trillion dollars you would probably see deflation from the likes of me. We poor people give the rich money, you get deflation. When rich people give poor people money, inflation.
The Rich people don't give poor people money they loan it to us with the expectation of getting it back with interest. Or we trade our labor for it.
I fully intend to get a trillion dollars and you would see inflation from me as I would pay third and forth world laborers way more than others are doing so as to equalize our wages faster.
I told you all back in 2007, about the same time I correctly predicted your recession, that this was it; every day you look in the mirror tell yourself it doesn't get any better than this; and to learn how to do less with less.
You can get on-board with the program any time you want.
Quote:
Originally Posted by InsaneTraveler
I am 25 years old. As an adult, I have truly never seen good economic times.
Super. Then you have something to look forward. What did I say back in 2007? About 2060 or so? Yeah, 2060.
Could be 2080 though. Depends on how many Africans the US murders in cold blood.
To successfully stop BRIC from developing sub-Saharan Africa, you'll probably need to murder at least 1 Million in cold blood.
Quote:
Originally Posted by InsaneTraveler
I have a bachelors degree in Business Management....
Sucks to be you.
Myself personally, I'd never hire an MBA or anyone with a degree in Business Management.
There is simply no substitute for experience. Absolutely none.
And even that wouldn't be so bad, but you have all of these bad habits from all of the theoretical nonsense you learned at university that I would have to undo.
Quote:
Originally Posted by InsaneTraveler
Why try to improve yourself in a world that is so broken?
The US is broken; the world is not. It's a good world. It'd be better if the US would stop interfering.
Here's an encore presentation from 10-16-2011, 12:24 PM
Quote:
Originally Posted by Mircea
Compare the following:
I, uh, um, you know, graduated in 2010, but, uh, I never, um, you know, I couldn't find a job anywhere so I couldn't work in my degree field, but uh, I have, uh, um, you know, been working part-time at Taco John's for the last, uh, 6 years or so, and uh, I know how to make a Taco Bel Grande really good, and I sort of remember, you know, uh, some of the stuff that was taught in class.
versus
I graduated in 2010, then went to Germany looking for work, but ended up at a small private company in Orly, France working in my degree field. After 3 years, I took a position at Proctor & Gamble's manufacturing facility in Timisoara, Romania where I reported directly to the Comptroller.
Which one of those will get hired?
Like I said, you can get on-board with the program any time you want.
From everything I see, this country is toast as far as ever getting its act together economically. The only way it would ever happen is that govt. spending and entitlements would have to end, but too many would howl, that their farm program, drug benefit, medicaid was cut or eliminated. What we will probably have is a forced meltdown like in Greece, or rapid run away inflation. Neither will be pretty. There are just too many people who expect the government to support them. There is too much government regulation and red tape. Just look at what is happening in the states. Texas is growing and prosperous, CA and NY are shinking. CA and NY have high taxes and lots of government. Texas has lower taxes, and a more business friendly environment. Its just that simple.
The founding father thought that if the Country even lost its work ethic and belief in God/religion/concept of right and wrong ,good and evil, being honest and hard working, thrifty etc. that the constitution could not endure. Looks like they're right. When the majority think that they can tax the minority to support them while they live off the govt. its not going to end well.
After my bottle of wine this evening, I began to have a heavy heart about our economy. Everyone, we have been in a rut for at least the past six years. Do you all really think things will ever get good again? I am so sad because I feel like so much of my life has been absorbed by this ruthless recession and economy. I am 25 years old. As an adult, I have truly never seen good economic times. I have a bachelors degree in Business Management and all I did after graduation was sit idol in unemployment. I threw my applications into a black hole it seemed. I finally found a job and have been there for the past year but I just left two Friday's ago because I need to move to a new state. Will I be chronically unemployed again? Next week, I take my CPC certification exam but what is the point? Will it really make my life better? Lets be honest, it won't. Why try to improve yourself in a world that is so broken?
It is broken, and I don't know if it'll get much better in, say, the next 20 years. Maybe not ever. Perhaps The US has seen its day. And if the economy doesn't get us, climate change probably will. But you have too choices: You can lie down and die, or you can take that exam. I would take that exam. It's not that I don't understand how you feel -- I do. But life is difficult -- it is almost always difficult. I just refuse to drink a little too much wine and drown in depression.
You've come a long way. Most people in The US are not in a place as good as yours. So just keep going. (I would give almost anything to be qualified to take a CPC exam.)
Last edited by Fran66; 09-22-2013 at 10:36 AM..
Reason: word change
This economy reminds me of the economic recovery that started in 2003, except that now it's a bigger jobless recovery.
The world has changed due to the rise of Asian industrialization and of China recovering from its own form of a Dark Age.
As I was travelling down a side street in a better-off part of town last week, I was struck by the number of 3 bedroom Cap Cod homes that were being torn down and being replaced by much larger Colonials. It seemed that at least every fifth house was being replaced in the stretch of six blocks that I traversed. Yet you won't see that sort of construction in the lower middle class neighborhoods where I live.
This economy is recovering, it's just that the recovery isn't helping the lower income households.
After my bottle of wine this evening, I began to have a heavy heart about our economy. Everyone, we have been in a rut for at least the past six years. Do you all really think things will ever get good again? I am so sad because I feel like so much of my life has been absorbed by this ruthless recession and economy. I am 25 years old. As an adult, I have truly never seen good economic times. I have a bachelors degree in Business Management and all I did after graduation was sit idol in unemployment. I threw my applications into a black hole it seemed. I finally found a job and have been there for the past year but I just left two Friday's ago because I need to move to a new state. Will I be chronically unemployed again? Next week, I take my CPC certification exam but what is the point? Will it really make my life better? Lets be honest, it won't. Why try to improve yourself in a world that is so broken?
Why are you moving to a new state if you just found a job? It seems like maybe you should stay put for a while.
One problem is that a lot of people are getting degrees in business administration so they never have to do any grunt work and immediately start earning 6 figure incomes.
In the past, many businesses actually promoted from within, they didn't require expensive degrees but you actually had to pay your dues and work very hard to be promoted up to running a business. It wasn't all that common for someone 25 years of old to be high up in management back in the old days.
Often the will to prove others wrong is what drives people to success. Let that be your motivation.
This is correct. It's what motivates me every day I wake up . Steve Jobs had this quality too.
Quote:
Originally Posted by InsaneTraveler
Perhaps you are right. Optimism always puts a better outlook on things. . It is just hard to do so with all the bad economic news over the past several years. What you say though mimics what a lot of my friends say. Optimism is key.
While not unimportant in the scheme of remaining informed, the news doesn't really matter to your personal situation. Realistically, it's just not going to be possible for you to know exactly what's going on, and I submit that to over-focus on such things is, in fact, a complete was of time. Truth be told, the "boom years" were awesome, in spite of the fact that Alan Greenspan's models were wrong. All that matters is your effort and your results, or lack thereof. If lack thereof, a different strategy is in order. You said you were both a server and a bartender, so those are both entry points for restaurant management.
According to the May 2012 National Occupational Employment and Wage Estimates data* that I just now googled, Food Service Managers make a median wage of $52580 (job code #11-9051). That puts you in the the 25% tax bracket. You would net $39,435. You skip a couple lattes, put off a few trips, show up every day, then open up an online trading account, and with your background (educationally) in business, you analyze a few stocks, put in a few trades, take a bit of risk, and make a bit of money. I would estimate that for most places around the country, you would probably make from $30,000 to $50,000 in a food service manager position. And you don't need a degree to be a food service manager or to open a trading account. You can move anywhere you want and still make money with a trading account. Or start your own business like others have mentioned in this thread.
You stated you left a decent job for personal reasons, so really it's up to you to get that squared away.
The world has changed due to the rise of Asian industrialization and of China recovering from its own form of a Dark Age.
As I was travelling down a side street in a better-off part of town last week, I was struck by the number of 3 bedroom Cap Cod homes that were being torn down and being replaced by much larger Colonials. It seemed that at least every fifth house was being replaced in the stretch of six blocks that I traversed. Yet you won't see that sort of construction in the lower middle class neighborhoods where I live.
This economy is recovering, it's just that the recovery isn't helping the lower income households.
This is also true. The economy seems to be stabilizing, but the question is recovering to what? Times were good because we were essentially the only game in town. The rest of the world has caught up. Just gotta find a new strategy.
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. Steve Jobs had this quality too.
