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Robert_Sock
Guest
Is the cost of living in America soaring to more justly represent equality among nations? Is this justice?
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Aelred_Minor
Guest
Are you suggesting someone is intentionally making life more difficult for us in America so that we won’t be so much better off than people in some other countries?
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Dakota_Roberts
Guest
CoL varies greatly upon where you live and how you live in the US after all it is not that much smaller than Europe
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Robert_Sock
Guest
Does God ring a bell?Are you suggesting someone is intentionally making life more difficult for us in America so that we won’t be so much better off than people in some other countries?
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Adamski
Guest
I have a healthy 8 month old and three year old and my Heath insurance and medical for my family of four was close to 20,000$ talk about a goverent attack on the family!!
I live in a rural area and have to travel a lot for work and last year I spent 17,000$ on gas!
I live in a rural area and have to travel a lot for work and last year I spent 17,000$ on gas!
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Robert_Sock
Guest
I will be paying around $160 a month for Blue Cross PPO and seldom travel. I fill up my tank about once every few months. I’m fortunate. I’m on disability and I’m really doing OK given my monk-like lifestyle.
But I can see that the cost of living is really hurting a lot of people like yourself. The question in my mind is how much worse is the high cost of living going to go here in America? The government really needs to recognize the special needs, such as your family, and provide a good deal of tax relief.
Although I’m doing OK now, I live in constant fear of losing my disability and becoming homeless. A female friend of mine lost her job and eventually her apartment. She cannot find work. She now shares a house with a rent of $500 per month. When her short money supply comes to an end, she will be homeless. I really feel sorry for such people.
I have come to have hope, and I’m in constant prayer.
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ACCT
Guest
Only governments can cause inflation. Inflation, even global hyper inflation, is baked into the cake. There is now $4 trillion of new unbacked money in the global economy. It takes about 18 months for that new money to translate into inflation. I expect that number to swell to $20 trillion as governments around the world try to inflate their way out of the debt crisis. **The dollar will probable lose 50% of its purchasing power in the next 3-4 years. **Food and gas have already doubled in price. Expect those prices to double again as we face global hyperinflation. Blame socialist governments around the world for inflation. They have given us monopoly money that is not backed by anything.
Get as far away from this economy as possible! Exchange your monopoly money for alternative money that was created by God. One day all the money in the world will not buy 1 ounce of silver. The Euro is toast. In the long-term, the dollar will be toast.
We are in God’s judgment. Man is trying to build a world without God. We love money instead of God (Mathew 6:24). God is letting us fail in a very big way.
Get as far away from this economy as possible! Exchange your monopoly money for alternative money that was created by God. One day all the money in the world will not buy 1 ounce of silver. The Euro is toast. In the long-term, the dollar will be toast.
We are in God’s judgment. Man is trying to build a world without God. We love money instead of God (Mathew 6:24). God is letting us fail in a very big way.
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GratefulFred
Guest
Personal Responsibility and Self Discipline are always necessary. There is not much any of us can do about the rising Cost of Living except to do our best to live within our means, as debt free as possible.
The mortgage fiasco America is still suffering from was brought upon our selves becasue TOO many people bought houses their incomes could not afford. Yes the banks were wrong to lend the money (for their profit) to people the banks knew could not afford the mortgage.
Each of us has to do the best we can to take of us.
The mortgage fiasco America is still suffering from was brought upon our selves becasue TOO many people bought houses their incomes could not afford. Yes the banks were wrong to lend the money (for their profit) to people the banks knew could not afford the mortgage.
Each of us has to do the best we can to take of us.
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ACCT
Guest
The Fed and other central banks
now have NO CHOICE but to
kick the money-printing presses
into overdrive
*Look, central bankers have two powerful reasons to despise falling asset prices:
Reason #1: When asset prices fall, they can cripple the entire economy. Corporate earnings and share prices plunge. Unemployment rises. Consumer spending falls off a cliff.
Reason #2: Falling asset prices also make their governments’ debts even more costly to service, as the collateral underwriting most debt shrinks in value.
Plus, Europe is a mess; on the edge of a cliff:
Greece will probably pull out of the euro — or be kicked out — soon.
France’s economy is reeling. Worse, the socialist party has taken over, and is promising to spend MORE money, not less. That means France’s massive debts are about to grow even larger.
Germany’s economy — the only engine keeping Europe afloat at this point — is also sinking.
Here in the U.S., things aren’t much better. The economy is slowing … home prices are still falling … unemployment is still sky-high … and the entire banking sector is still a disaster zone.
And to make matters even worse, we face a fiscal nightmare in just over six months’ time, when the Bush tax cuts expire and when the budget ceiling is hit again.
Meanwhile, Congress is deadlocked, caught up in election year politics — and the candidates are making the usual promises to dole out even MORE money to voters.
MARK MY WORDS:
This IS the calm before the storm!*
Larry Edelson
now have NO CHOICE but to
kick the money-printing presses
into overdrive
*Look, central bankers have two powerful reasons to despise falling asset prices:
Reason #1: When asset prices fall, they can cripple the entire economy. Corporate earnings and share prices plunge. Unemployment rises. Consumer spending falls off a cliff.
Reason #2: Falling asset prices also make their governments’ debts even more costly to service, as the collateral underwriting most debt shrinks in value.
Plus, Europe is a mess; on the edge of a cliff:
Greece will probably pull out of the euro — or be kicked out — soon.
France’s economy is reeling. Worse, the socialist party has taken over, and is promising to spend MORE money, not less. That means France’s massive debts are about to grow even larger.
Germany’s economy — the only engine keeping Europe afloat at this point — is also sinking.
Here in the U.S., things aren’t much better. The economy is slowing … home prices are still falling … unemployment is still sky-high … and the entire banking sector is still a disaster zone.
And to make matters even worse, we face a fiscal nightmare in just over six months’ time, when the Bush tax cuts expire and when the budget ceiling is hit again.
Meanwhile, Congress is deadlocked, caught up in election year politics — and the candidates are making the usual promises to dole out even MORE money to voters.
MARK MY WORDS:
This IS the calm before the storm!*
Larry Edelson
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Robert_Sock
Guest
A lot of what you say is very informative, and I greatly appreciate that. I don’t personally see socialism as the cause, however.
As St Paul states, in all things, God works for the good. I’m a big believer in faith, and social justice . . . I believe in equality in goods across nations.
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ACCT
Guest
Do you believe in equality of outcome, or in equality of opportunity?
The philosophy of socialism is failure. The creed of socialism is igorance. The gospel of socialism is envy. - Winston Churchill
The world’s financial structure is based on the socialist teaching of the economist, Keynes.
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Robert_Sock
Guest
I believe opportunities need to be created in needy countries. I believe whatever it takes to provide goods to poorer nations must be implemented. If it means printing more money, so be it.
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ACCT
Guest
Today’s Fed is like a drug dealer, helping to supply the now debt- and spending-addicted Federal
Government to not only stay in business, but to also stay addicted to overspending.
That’s terrible, I know. And patently wrong. But until the system completely collapses, which itwill — it’s not going to change.
Every time the U.S economy starts to waver, or its debts come into question, or asset prices start
to fall — the Federal Reserve will have no choice but to engage in reflationary schemes, because
it’s now caught in a vicious circle.
If it doesn’t support asset prices and reflate, then the government’s towering inferno of debts and
obligations will come crashing down — and we would have a deflationary depression that would
make the 1930’s look like a walk in the park.
To Washington, that’s not an option. It’s to be avoided at all costs. Even if it means the opposite:
Rampant inflation, a devalued U.S. dollar — and eventually default through inflation — which means
Washington gets to pay back its debts and obligations, but with dollars that are a fraction of what
they were worth before.
Larry Edelson
Government to not only stay in business, but to also stay addicted to overspending.
That’s terrible, I know. And patently wrong. But until the system completely collapses, which itwill — it’s not going to change.
Every time the U.S economy starts to waver, or its debts come into question, or asset prices start
to fall — the Federal Reserve will have no choice but to engage in reflationary schemes, because
it’s now caught in a vicious circle.
If it doesn’t support asset prices and reflate, then the government’s towering inferno of debts and
obligations will come crashing down — and we would have a deflationary depression that would
make the 1930’s look like a walk in the park.
To Washington, that’s not an option. It’s to be avoided at all costs. Even if it means the opposite:
Rampant inflation, a devalued U.S. dollar — and eventually default through inflation — which means
Washington gets to pay back its debts and obligations, but with dollars that are a fraction of what
they were worth before.
Larry Edelson
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ACCT
Guest
Prepare to become a poor man.
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GratefulFred
Guest
Have we forgotten or do I misundertand THE essential purpose of money?
I make something you need. You make something I need. We go to the market and see each other and exchange our products. We barter.
Money allows us to partake in wider market with many more products, products not of equal value. I sell my widget for $10 and buy your’s for $8 and use the remaining $2 to buy somthing else. All of us go make more widgets and repeat the sell purchase cycle again.
The essential purpose of money is to represent the value of production. If something cost $10 but we print too much money and people are willing to pay $20 for a $10 product, how are we better off? What happens to the poor guy who only as $15? Does he go without?
It seems the way to reduce poverty is to find ways the poor can produce things others want to buy. Then the poor make money to buy the things they need.
Simply printing more money does not increase production. Just inflation. IMO.
I make something you need. You make something I need. We go to the market and see each other and exchange our products. We barter.
Money allows us to partake in wider market with many more products, products not of equal value. I sell my widget for $10 and buy your’s for $8 and use the remaining $2 to buy somthing else. All of us go make more widgets and repeat the sell purchase cycle again.
The essential purpose of money is to represent the value of production. If something cost $10 but we print too much money and people are willing to pay $20 for a $10 product, how are we better off? What happens to the poor guy who only as $15? Does he go without?
It seems the way to reduce poverty is to find ways the poor can produce things others want to buy. Then the poor make money to buy the things they need.
Simply printing more money does not increase production. Just inflation. IMO.
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ACCT
Guest
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ACCT
Guest
*This morning I told you why the world’s central bankers are getting ready to print another tsunami of fiat money … and how that tsunami will soon set off the biggest phase yet in the great commodity boom — a boom that has a long way to run.
Thing is, the next phase could begin any moment. And if you’re not ready for it, that would be a shame. Your money will be in great danger of rampant inflation. Way more than it already is.*
Larry
Thing is, the next phase could begin any moment. And if you’re not ready for it, that would be a shame. Your money will be in great danger of rampant inflation. Way more than it already is.*
Larry
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manualman
Guest
I have a simple mind. I have to break things down to grasp them. Here’s how I see real economics working:
Three of us live on an island. We find 30 special shells, call them money and divvy them up. One of us knows how to build, another how to grow crops, the third how to fish. At the begining of our shipwreck, our total economic worth is 30 shells. #1 starts building shacks, for which the others agree to pay him 6 shells a year each. #2 plants and tends the garden for which he is paid 4 shells each, but he moonlights working for #1 helping to build and gets paid 2 shells a year by him. #3 puts some nets together and starts bringing in fish for 5 shells a year.
At the end of they year, they are all well fed, have 30 shells of liquid money and building assets worth 12 shells for a total economic worth of 42 shells. That’s pretty darn good growth. And that’s how we USED to measure productivity, in terms of additional value created. But some years ago, they changed GNP to GDP and altered the definition to include non-productive services in the total. No value is added to the net worth of the world by tanning salons, basketball stars, personal trainers and wedding planners. Yet the amount paid to them is considered in today’s GDP calculations. We no longer have any real idea of how productive we are anymore. The real danger isn’t that people will quit valuing green paper and desire yellow metal instead. The real danger is that we no longer have a system ordered towards rewarding actual productive work that increases the total wealth in society. We’ve fundamentally skewed things until somehow our system considers people who play with balls and preen for cameras as being worth drastically more than people who build ships, factories and housing. How’d that happen?
Three of us live on an island. We find 30 special shells, call them money and divvy them up. One of us knows how to build, another how to grow crops, the third how to fish. At the begining of our shipwreck, our total economic worth is 30 shells. #1 starts building shacks, for which the others agree to pay him 6 shells a year each. #2 plants and tends the garden for which he is paid 4 shells each, but he moonlights working for #1 helping to build and gets paid 2 shells a year by him. #3 puts some nets together and starts bringing in fish for 5 shells a year.
At the end of they year, they are all well fed, have 30 shells of liquid money and building assets worth 12 shells for a total economic worth of 42 shells. That’s pretty darn good growth. And that’s how we USED to measure productivity, in terms of additional value created. But some years ago, they changed GNP to GDP and altered the definition to include non-productive services in the total. No value is added to the net worth of the world by tanning salons, basketball stars, personal trainers and wedding planners. Yet the amount paid to them is considered in today’s GDP calculations. We no longer have any real idea of how productive we are anymore. The real danger isn’t that people will quit valuing green paper and desire yellow metal instead. The real danger is that we no longer have a system ordered towards rewarding actual productive work that increases the total wealth in society. We’ve fundamentally skewed things until somehow our system considers people who play with balls and preen for cameras as being worth drastically more than people who build ships, factories and housing. How’d that happen?
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BillP
Guest
I am afraid that you don’t have the slightest clue about what you are attempting to explain.
Similarly, every time Kobe Bryant suits up literally thousands of people go to work who wouldn’t ordinarily do so, from the highly paid Sports Agents, Coaches to the middle class Sales and Marketing folks who promote the Lakers and the Police officers who provide security at the games. The opposing team hires hotel rooms, taxis, buses airplanes (and indirectly pilots, mechanics etc) etc. The combined economic activity of a season of Laker’s games provides the cashflow to build and maintain a magnificent arena which annually draws tens of thousands of fans who each pay handsomely for the privilege of watching these young men play a child’s game.
You don’t know what you’re talking about.
You analysis of money is facile. If an economy creates assets (especially income producing assets!) without expanding the money supply it will soon find itself creating disastrous deflation as a fixed pile of money is used to try to purchase an ever increasing choice of products. Which means that no one will ever be to borrow for capital improvements. If they do borrow for such capital improvements, then the continual increase in value of the debt (the difficulty of obtaining the money needed to service it) will act as a “phantom interest” which will drive the cost of borrowing way over any potential profits.
There is no such thing as a “non-productive service”. Doesn’t happen. Those “tanning salons” that you are so dismissive of hire accountants to manage their books, pay rent to retail space developers, provide employment to the workers who design, manufacture, install and service their equipment. The taxes that they pay allow cities and towns to hire policemen and firefighters, the money that they spend on their water and sewer bills provides the cashflow the municipalities use to float bond issues to create and improve water and sewer facilties. The property taxes they pay (either directly or indirectly through their rent payments) provides the budget to run the schools. And this says nothing of the wages paid directly to their employees. This economic benefit filters down to the lower class folks who draw the beers, steam the hotdogs and clean up aftre the crowd goes home.
Similarly, every time Kobe Bryant suits up literally thousands of people go to work who wouldn’t ordinarily do so, from the highly paid Sports Agents, Coaches to the middle class Sales and Marketing folks who promote the Lakers and the Police officers who provide security at the games. The opposing team hires hotel rooms, taxis, buses airplanes (and indirectly pilots, mechanics etc) etc. The combined economic activity of a season of Laker’s games provides the cashflow to build and maintain a magnificent arena which annually draws tens of thousands of fans who each pay handsomely for the privilege of watching these young men play a child’s game.
You don’t know what you’re talking about.
You analysis of money is facile. If an economy creates assets (especially income producing assets!) without expanding the money supply it will soon find itself creating disastrous deflation as a fixed pile of money is used to try to purchase an ever increasing choice of products. Which means that no one will ever be to borrow for capital improvements. If they do borrow for such capital improvements, then the continual increase in value of the debt (the difficulty of obtaining the money needed to service it) will act as a “phantom interest” which will drive the cost of borrowing way over any potential profits.
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manualman
Guest
One of us doesn’t get it, I’ll grant you that. Nobody disputes that a ton of money changes hands as a result of the ‘service economy.’ But you haven’t remotely convinced me that passing the same dollar back and forth at an ever more frantic rate is true economic growth. That’s all that services are. They generally don’t create wealth, they pass existing wealth back and forth. Meanwhile, we’ve moved all the GENERATION of wealth we used to do in the economy to China and thereabouts.
I don’t think you read my post very well either. There is nothing to stop people in my example from taking out loans that are secured against the value of their assets. They went from a total market cap of 30 shells to 42 in one year. I’d take that growth rate, thanks.
But I’m familiar with the contempt that sophisticated people like you have for my view. They used to mock me for buying too little of a house too.
I don’t think you read my post very well either. There is nothing to stop people in my example from taking out loans that are secured against the value of their assets. They went from a total market cap of 30 shells to 42 in one year. I’d take that growth rate, thanks.
But I’m familiar with the contempt that sophisticated people like you have for my view. They used to mock me for buying too little of a house too.
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