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In 1915 you could buy a cow with a $20 gold piece. Today you can buy a cow with that same $20 gold piece, but a $20 bill doesn't get you very far down the meat counter. Hamburg is over $4 a pound in our country today. Would you rather have five pounds of hamburg or a whole cow?
The escalation of people shilling for the gold standard is another depressing trend. Why don't schools teach rational thinking? I suppose that would make us dangerous...
If you'd taken that $20 gold piece and bought fiat money treasuries with it in 1915, you'd be able to buy 3 cows with it now. Ponder that.
There is nothing inherently wrong with "fiat money". It provides a lot more flexibility and efficiency than a precious metal standard. And if you really prefer to have your savings "secure" in shiny metal, then please buy some with your easily convertible US$.
I don't think anyone has a clue how it will be 10 years from now. There are many negative scenarios discussed that make it seem like this country is going to Hell in a handbasket. For me, I'm tired of it. Doom and gloom and more doom and gloom. It isn't the way to bring on any thought of a positive future. There are some who sound as if they want us to become a third world country. They sound like they would be pleased.
China and North Korea and other countries would like us to be a third world country and China certainly owns quite a bit of us already. I agree that we don't know what it will be like ten years from now and the patterns are obvious. I may well not be around to see the magic ten years and I really don't want to be around in ten years. Corp. Am. wants cheap labor and don't care how we're effected. The depression (technically it was a recession and we need a new term for what happened) continues.
Positive future? I don't see it because we're a country run by crooks and things continue a downward spiral. Some years ago, it was called "the tipping point." We're beyond that now. I'm not a pessimist and I do call and can easily see what's going down.
If you don't want doom and gloom bury your head in the sand. It's what many of our friends have done but have turned around and finally understand that what we've been saying is exactly what's happening. In the end, you'll probably be healthier if you can ignore what's happening.
With NAFTA and our government ignoring how bad off people are (they know but business is more important) I don't see this changing. The government new about the financial disaster well in advance of the crash and the SEC ignored the warnings for years. I interviewed at a financial company (outsourced to India) where the guy from India was really pleased that they were able to hide (therefore not be taxed) their income. The government knew about the inflated housing market well in advance and ignored what would be a horrendous crash. If we had people who represented us in Corp. Am. none of this would be a problem but the country wants cheap products that don't last. They don't care about the god-awful outsourcing to too many companies that are totally incompetent. I went from being a multi-role software tester for an online mag to a highly paid proofreader because of the garbage coming from India and it was totally typical.
Last edited by PeaceOut001; 03-18-2015 at 11:51 AM..
Reason: lol... changed 3rd word country to "world"
China... and other countries would like us to be a third world country and China certainly owns quite a bit of us already.
In China's case our depressed wages are a by product of them getting rich. If they could have developed as quickly without negatively impacting the US middle class, I'm sure they'd be fine with that. Same for the US "leaders" who perpetrated this scheme.
In China's case our depressed wages are a by product of them getting rich. If they could have developed as quickly without negatively impacting the US middle class, I'm sure they'd be fine with that. Same for the US "leaders" who perpetrated this scheme.
Same story with Japan .They never even though about unions here; they just wanted to compete/eat and unions just thought this post war when US was world producer was the norm.
The escalation of people shilling for the gold standard is another depressing trend. Why don't schools teach rational thinking? I suppose that would make us dangerous...
If you'd taken that $20 gold piece and bought fiat money treasuries with it in 1915, you'd be able to buy 3 cows with it now. Ponder that.
There is nothing inherently wrong with "fiat money". It provides a lot more flexibility and efficiency than a precious metal standard. And if you really prefer to have your savings "secure" in shiny metal, then please buy some with your easily convertible US$.
The problem isn't fiat money per se, it's fiat money combined with all of the other parasites/chicaneries that suck from the bottom-
Privately owned central banking, corporate welfare, corporate governance, derivatives markets, government guarantees whether implied or explicit, etc etc.
I spoke to some family the recently about the economy. Several relatives of mine think that the US is in an extended slump and things will eventually return to the way they were in the late 90s/early 2000s. Their view definitely has its roots in history, since the US economy always bounced back in the past. However, I also read many online news articles that describe how the US economy has permanently changed and things will never go back to the way they were before. I have even seen some news sources which state that the US might start descending again in the near future.
I really don't know what to make of everything. I have no idea what the US economy will look like 10 years. I don't know who to believe. Hopefully it will be fully recovered. But who knows.
In your opinion, what do you think the economy will look like in 10 years? Fully recovered? Still barely improving the way it is now? Declining even further?
The US is on course to repeat what the UK did. Once the UK had an empire, as they saying goes, one on which the sun never set. Then it engaged in a senseless first world war, engaged in ridiculous squabbles with indigenous people in their colonies, maintained a huge military, and tried to be the world's policeman. After WW2, it was an empty shell and by the late 1960's its industries were uncompetitive. For the last 20 years, the only growth industry is investment banking which almost brought the country to the doorstep of a depression in 2008.
The US makes nothing that anyone wants, has a bloated military budget, and the inability to see itself as just a part of some imperfect world.
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