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What do you think the future of the USA will be like ?

What do you think the future of the USA will be like ?


  • Total voters
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Unfortunately, these tea party types didn't take econ in college, they just "learned" about economics at the barber shop and on facebook. Of course most of that is disinformation.

Why are you trying to discredit me right now?
 
1. Think of it like this, inflation is the inflating of the financial bubble. The more money there is the value is less, or he more air you blow into a balloon the rarity of the air molecules depreciates. Causing inflation

Assuming that money is actually in circulation.

2. You could buy gold, but you can't use it as legal tender. They're not backed by everything you can buy with them, they're backed on the amount of money held in reserve. Or the amount the federal reserve and participating banks hold as security reserves

Which is exactly why the US dollar has value. We need it to make purchases with.

3.ˌhʌɪpərɪnˈfleɪʃ(ə)n/
noun
monetary inflation occurring at a very high rate. That's the definition of hyperinflation, idk any economist that would disagree with me

I double dare you to find any true economist claiming that we are having hyperinflation. A simple google search should give you tons of links, if what you believe is true.

4. State governments controlling the production of tender is different then government monopolizing industry after industry

So you seriously advocate for 50 different currencies in the US?
5. Ok you mean devalue it's a common mistake, please from now on think of my bubble analogy

I perfectly understand inflation - you are the one who referred to the devaluation of the dollar as "inflation".
 
Why are you trying to discredit me right now?

That wasn't particularly directed at you personally, just at tea party types.

Its been my experience that most tea party types have their heads filled with a lot of mis-information and distortions, and are very much like conspiracy theorists.
 
Assuming that money is actually in circulation.



Which is exactly why the US dollar has value. We need it to make purchases with.



I double dare you to find any true economist claiming that we are having hyperinflation. A simple google search should give you tons of links, if what you believe is true.



So you seriously advocate for 50 different currencies in the US?


I perfectly understand inflation - you are the one who referred to the devaluation of the dollar as "inflation".

1. Ok so you understand my analogy then

2. We make purchases with the dollar because we have told the markets that we promise there is value. It's not the market purchases that have created the value, it's the legal tender of a private firm promising value in the currency. However, it's not the citizens saying that this is actually worth anything, because the u.s. Fiat dollar never went through practice economic cycles in the free market

3. Harry Dent - DOW 6000 in 2014 – Will You Survive and Prosper? he suggests that there will be a period of deflation, right now. Then there will be hyperinflation, next year, because of the enormous amounts of dollar printing we are doing right now because of the very low interest rates. I almost didn't do it but you said double dare instead of just daring me

4. Yes because the citizens would be able to decide which currency holds the most value through market competition

5. Because that's what inflation is. The more money in society the less value of a dollar exists. However the carjosse argued that the less value if the dollar is calls for a need in the actual increase of currency. However I am saying it's that increase in the money supply that's actually causing the devaluation of the dollar
 
I believe that the USA will evolve into a more tolerant, inclusive society and that the GOP will shrink to a small, regional party when massive demographic change hits it like a tidal wave. I'm 71-years old and I expect to live long enough to see this happen.

It's not right around the corner, but it's going to happen.

No one can stop time and/or change.

The clock is ticking. :roll:
:2wave: l hope you live long enough to see it ,we all see it
 
Here you go Pol, interest on the debt since 2000:

2014 $430,812,121,372.05
2013 $415,688,781,248.40
2012 $359,796,008,919.49
2011 $454,393,280,417.03
2010 $413,954,825,362.17
2009 $383,071,060,815.42
2008 $451,154,049,950.63
2007 $429,977,998,108.20
2006 $405,872,109,315.83
2005 $352,350,252,507.90
2004 $321,566,323,971.29
2003 $318,148,529,151.51
2002 $332,536,958,599.42
2001 $359,507,635,242.41
2000 $361,997,734,302.30

We are now approaching a half trillion dollars in interest alone that must be paid. This bill is at interest rates of 1-2 percent. Now if interest rates reach their normal of 6% triple or quadruple the amount shown. Yet, so many people just toss this fact off into the wind.

:agree: We're drowning in debt, yet our politicians think it's no problem to throw another $1.1 trillion on the pile. A trillion is a million million - that's a million x million. Our national debt is actually 18 trillion, so it's a million x million x 18. That's an awful lot of zeroes, and the latest 1.1 trillion only takes us up to September 2015, at which time we start this travesty all over again.

No wonder other countries are openly questioning our monetary leadership role on the world stage. We watched Zimbabwe go bankrupt a few years ago, and we wondered how such a thing could happen. Their currency was devalued to nearly $18,000 per every US dollar, and the last I read, they were issuing currency in the hundreds of thousands of dollars for every US dollar, due to inflation. Unbelievable! Is this insanity in our future?
 
The dollar is backed by everything that can be purchased with it.

The dollar was never truly backed by gold, not at any time in the existence of this country. And when we were young, and on the "gold standard", US citizens weren't even allowed to exchange the dollar for gold. It was illegal for citizens to own gold bullion. If you can't exchange your dollars for what backs it, then it's not really backed by that product.

I can however use my dollars at Walmart, or at McDonalds, or at the car dealer. So my dollars are backed by all the goods and services which can be purchased then them, as they always have been.

I think when it comes to the dollar and the ever rising debt that you live in an Utopian world where debt means nothing. Then why not print up X number of dollars and give each citizen a million dollars making them all millionaires and eliminating poverty all together? Why tax anyone when debt means nothing, just print up the money and have the government borrow it from itself? Taxing people seems so passe if debt means nothing.
 
There has been interest due every year of the existence of this country except for one. It's a system that has worked out fairly well for the past 238 years, I'm fairly confident that it will continue to work out for at least another 238 years.

I do not think so, I think there is a limit on everything. Too much of a good thing can actually be bad. I think we are fast approaching that limit. But I am no financial guru, just as I see it.
 
:agree: We're drowning in debt, yet our politicians think it's no problem to throw another $1.1 trillion on the pile. A trillion is a million million - that's a million x million. Our national debt is actually 18 trillion, so it's a million x million x 18. That's an awful lot of zeroes, and the latest 1.1 trillion only takes us up to September 2015, at which time we start this travesty all over again.

No wonder other countries are openly questioning our monetary leadership role on the world stage. We watched Zimbabwe go bankrupt a few years ago, and we wondered how such a thing could happen. Their currency was devalued to nearly $18,000 per every US dollar, and the last I read, they were issuing currency in the hundreds of thousands of dollars for every US dollar, due to inflation. Unbelievable! Is this insanity in our future?

What worries me, since my expertise is in Southeast Asia is when the Laotian currency which was pegged at 30,000 kip per one U.S. dollar has dropped to 7,000 kip to one U.S. dollar and Laos has nothing or has done anything to cause that. Laos barely qualifies as a third world country. I have also watched Thailand, its baht drop from 42 down to 30 baht to the dollar and that country use to keep all its reserves in dollars. Not any more as it is slowly adding other currencies, the Yuan for example. Even the Cambodian Reil has dropped in value from 4100 down to 3900.
 


The Future's So Bright, I Gotta Wear Shades
 
I do not think so, I think there is a limit on everything. Too much of a good thing can actually be bad. I think we are fast approaching that limit. But I am no financial guru, just as I see it.

People have been saying that for two hundred years.
 
What worries me, since my expertise is in Southeast Asia is when the Laotian currency which was pegged at 30,000 kip per one U.S. dollar has dropped to 7,000 kip to one U.S. dollar and Laos has nothing or has done anything to cause that. Laos barely qualifies as a third world country. I have also watched Thailand, its baht drop from 42 down to 30 baht to the dollar and that country use to keep all its reserves in dollars. Not any more as it is slowly adding other currencies, the Yuan for example. Even the Cambodian Reil has dropped in value from 4100 down to 3900.

That doesn't mean anything on Main Street USA.
 
...We make purchases with the dollar because we have told the markets that we promise there is value...

We observe that there is real value, we depend on no promise. When I know that I can use my US dollars to pay my electric bill, then I know that my dollars have value. I don't have to be promised anything, I witness their value every day. And that's all that I need to know to be willing to accept more US dollars in exchange for my labor. As long as people are willing to accept it in trade, then no promises are needed, and it doesn't have to be backed by anything other than my knowledge that we can use it in trade.

The US dollar has been used in our economy every day since it was invented, that's a heck of a lot of practice. It's not like we just made up dollars yesterday and they are unproven as a unit of money that can be exchanged in trade and used as an unit of measure for accounting purposes.
 
We will be fine as a country. Even today when we complain about a slow economic recovery, we are leading the entire G20 in terms of economic performance since the financial crisis and recession. Despite our polarization, we are a very ingenuitive and hard working country. We were 50 years ago, we are today, and we will be 50 years from now.
 
Demographic changes say the country will increasingly become socialistic. To collapse of domestic manufacturing and product will cause the economy to continue to decline, for which the way to try to manage this will be increasing inflation - the invisible tax. Inflation also reduces the value of the national debt.

The real question is not whether there will be economic decline, but can the decline be a managed decline avoiding a sudden crash?
 
...We watched Zimbabwe go bankrupt a few years ago, and we wondered how such a thing could happen. Their currency was devalued to nearly $18,000 per every US dollar, and the last I read, they were issuing currency in the hundreds of thousands of dollars for every US dollar, due to inflation. Unbelievable! Is this insanity in our future?

Nope. I don't see our government confiscating private farms or our production dropping to near zero. Why would such a thing happen?

Every single instance of hyperinflation that has ever existed happend in a country which had it's production shut down. Think about it, inflation is caused not by too much money (have you ever had "too much money"?), but by a lack of sufficient goods to meet demand. Our production of goods and services is increasing, not decreasing.

Seriously, how can you compare Zimbabwe to the US?
 
We observe that there is real value, we depend on no promise. When I know that I can use my US dollars to pay my electric bill, then I know that my dollars have value. I don't have to be promised anything, I witness their value every day. And that's all that I need to know to be willing to accept more US dollars in exchange for my labor. As long as people are willing to accept it in trade, then no promises are needed, and it doesn't have to be backed by anything other than my knowledge that we can use it in trade.

The US dollar has been used in our economy every day since it was invented, that's a heck of a lot of practice. It's not like we just made up dollars yesterday and they are unproven as a unit of money that can be exchanged in trade and used as an unit of measure for accounting purposes.
You mean the federal reserve note not the u.s. Dollar

This is the conception of a person who doesn't understand economics and is willingly allowing himself to be conquered by foreign bankers because he is refusing to understand monetary policy
 
I see us moving more toward mediocrity, self-indulgence, and collective insanity. I suspect that we will eventually have a slow decline, hit bottom, then bounce back through much pain and hard work. We have the best and the worst of everything.

I would beg to differ.

I believe our future is hinged upon our attractiveness to people around the world. IOW, do people want to immigrate here or not?

America is the only nation in the world with this much diversity. Diversity is good, it allows us to see more than one perspective to something, more than one answer, to blend, mix, and most importantly, INNOVATE!

We have incredible rights here, and despite the talks of the pessimists because one guy gets choked for being black, we are still one of the most free nations in the world. We do not censor the internet or protests, and with the great impetus we are seeing for things like gay marriage rights and such America is bound to become an even freer nation for anyone who decides to come.

Immigration is key, and America is still the place to immigrate to, if that changes, only then will I have conceded any points I made on these kinds of topics, only then will America truly be lost.

As I've said before, if you look at any great American innovator, leader, etc. you'll notice one thing is always constant. Whether it was they themselves or their parents or grandparents, they were immigrants looking for a better life.

We may attract some of the bad, and the fools will focus on only that. But we also attract the very best in the world. Look at Steve Jobs, his father was Syrian. Look at Einstein, he was a European immigrant. Or for the arts/literature, look at Joseph Pulitzer, a Jewish immigrant.

It may sound cliche, but we are indeed a nation built on immigrants. And our sustained sustenance is the exact same thing that built us in the first place. I believe that to be a truth.
 
You mean the federal reserve note not the u.s. Dollar

This is the conception of a person who doesn't understand economics and is willingly allowing himself to be conquered by foreign bankers because he is refusing to understand monetary policy

Semantics.

My father worked in GE audit staff, one of the most prestigious programs dealing with economics/finance in the world and then traveled all across the world dealing with multi-million dollar deals. He's also an investor (of course).

Are you going to say he has no clue about economics because quite frankly, he says "U.S. dollar" as well.

Quit the semantics, only a fool will play that card.
 
Demographic changes say the country will increasingly become socialistic.

That's possible, and changes in the workplace (less need for human labor) will contribute to that also.


To collapse of domestic manufacturing and product will cause the economy to continue to decline

I can't see that happening at all. It isn't happening now, and hasn't happened at any time in the existance of the USA. We are manufacturing more and more, but we are doing it with fewer and fewer workers. That doesn't represent a collapse of domestic manufacturing, it represents a change in the workplace.

, for which the way to try to manage this will be increasing inflation - the invisible tax.

Inflation has been quite low during most of my lifetime, and when it was really high (the Carter and early Reagan years), it was driven by huge increases in the price of oil. We are now seeing lower oil prices, and we are discovering how to extract energy in abundance, so I don't see inflation as being much of a threat anytime soon.

The real question is not whether there will be economic decline, but can the decline be a managed decline avoiding a sudden crash?

There is no reason we would have a decline at all, other than the occasional recession that has always existed. We decide our own economic fate as a society.
 
You mean the federal reserve note not the u.s. Dollar...

That's a semantic argument that means nothing, and only evidences that you have bought into some sort of tea party conspiracy story. Our money is our money, there is no difference between the federal reserve note and the US dollar. They are one and the same.
 
Semantics.

My father worked in GE audit staff, one of the most prestigious programs dealing with economics/finance in the world and then traveled all across the world dealing with multi-million dollar deals. He's also an investor (of course).

Are you going to say he has no clue about economics because quite frankly, he says "U.S. dollar" as well.

Quit the semantics, only a fool will play that card.

You beat me by 8 minutes. Great minds think alike.
 
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