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In this country,people scream when they see their can of Folger coffee gone up 25 cents or a loaf of bread by a nickel,of course there is prescription drug and seeing a doctor,or buying a new car cost you 5 figures.
But no one seems to complain when they pay with their credit card,and make minimum payment each month,what kind of interest rate they are paying?
We enjoy a higher living standard than other parts of the world,middle class may have wheels but they still take public transportation to work and drive their car on weekend,while we drive to get a gallon of milk.
THEY are still renting in apartments and using window air conditioner and wearing wool underwear and rinse their clothes in the sink and a healthy savings account .
But what do we have - There is drycleaning,teeth whitening,eat healthy,drink bottled water,workout in gym,annual vacation,internet,streaming,eat in,eat out,digital order delivered by Doordash,A/C,central heating,SUV gas guzzlers,backyard BBQ,TV in every room,laptop,smart phone,texting,messaging! and we dont have $400 in savings.
But then we have Biden !!!!!!!!!!They dont
There would be little to complain about if we could get housing, health care, and education costs under control. Those are the 3 big problems and most everyone will deal with them.
The complaints would probably gravitate to social issues like immigration, kind of like they do in Europe where economically, their native-born people have few economic complaints left to make.
Look at the dollar/oil ratio on US debt clock, ie the amount of new dollars being printed for every barrel of oil extracted from the ground. Pre-Covid, it was around $65 per barrel. Now it's $126.50 per barrel. Oil produces economic activity, the reason why we were able to "get away" with a stimulus/QE binge after the 2008 crisis was because of massive amounts of shale oil coming to the market. We're not going to have that this time. If you don't know what happens when central banks print funny money without the economic activity to absorb it, look to Argentina to get an idea.
Last edited by Taggerung; 04-03-2021 at 08:05 PM..
Look at the dollar/oil ratio on US debt clock, ie the amount of new dollars being printed for every barrel of oil extracted from the ground. Pre-Covid, it was around $65 per barrel. Now it's $126.50 per barrel. Oil produces economic activity, the reason why we were able to "get away" with a stimulus/QE binge after the 2008 crisis was because of massive amounts of shale oil coming to the market. We're not going to have that this time. If you don't know what happens when central banks print funny money without the economic activity to absorb it, look to Argentina to get an idea.
Look at the dollar/oil ratio on US debt clock, ie the amount of new dollars being printed for every barrel of oil extracted from the ground. Pre-Covid, it was around $65 per barrel. Now it's $126.50 per barrel. Oil produces economic activity, the reason why we were able to "get away" with a stimulus/QE binge after the 2008 crisis was because of massive amounts of shale oil coming to the market. We're not going to have that this time. If you don't know what happens when central banks print funny money without the economic activity to absorb it, look to Argentina to get an idea.
We generate much more economic value per electron than ever before, without consuming a drop more of oil, even less.
How is it that big tech corporations are now part of the military establishment, sort of like oil became starting about a hundred years or so ago?
At least we can say that oil outlasted gold (liquidity, no?).
Look, it's not that gold and silver and oil are no longer important, they are, especially oil, but they have lost relative importance over the past 25-30 years; gold and silver are never coming back, at least not in the world as we know it, and oil will probably continue to drop in relevance going forward.
We generate much more economic value per electron than ever before, without consuming a drop more of oil, even less.
How is it that big tech corporations are now part of the military establishment, sort of like oil became starting about a hundred years or so ago?
At least we can say that oil outlasted gold (liquidity, no?).
Look, it's not that gold and silver and oil are no longer important, they are, especially oil, but they have lost relative importance over the past 25-30 years; gold and silver are never coming back, at least not in the world as we know it, and oil will probably continue to drop in relevance going forward.
Keep dreaming. Fiat currencies come and go, silver and gold will always be relevant. And oil is the life blood of the techno-industrial economy. Every single thing around you was manufactured, produced, or transported using oil. We are NEVER "moving beyond oil," whilst maintaining a techno-industrial economy and way of life, that is sheer fantasy. And your comment about us consuming less oil is false. Oil production/consumption must keep growing, or else the system collapses.
Lovely, these economic policies are akin to communism; in the end the majority owns nothing.
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