what the fuck?
He's kind of right but also wrong at the same time. If you print money to pay China, you're in debt to the Fed
Breaking news: Presidential candidate is a Keynesian tool, willing to do most anything to avoid taking the US economy off it's economic equivalent of drug abuse.
He's accurately describing our economic policy for the past decade, don't see why this is news to anyone.
>>73692517
I love how they have a 20 minute interview with the guy and they only grab the end of 1 sentence for him to blow up.
Talking in interviews is like walking through minefields for Trump. All they want to do is blow him up.
>>73692517
I think he was just stating this as a fact, but not something that should be taken advantage of. It's like saying that if you chloroform a woman, you can rape her without resistance. It's a true fact. But that doesn't mean you're going to do it.
Americans have become so retarded lately that even the simplest things have to be explained to them like they are five.
The US will be his fifth bankruptcy.
And like his others, someone else will get screwed.
>>73692883
Liberals don't know what a denominator. They think solely in terms of numerators.
Guys if we print the money, that means we'll never have debt! That's how it works, right?
>lemme tell you why this billionaire businessman who graduated in economics at the best business school in the world is wrong
>>73692517
The Bureau of Engraving and Printing prints $541 million dollars a day.
What the fuck is the problem here?
>>73692956
>what is QE
>>73692517
never heard of the economic A-bomb?
>>73692883
>intentionally using bankruptcy laws to preserve earnings in an area where you have no control over losses is bad
Fuck off you know-nothing layabout. Go take a business 101 class
>>73692839
>>73692868
this is some pretty weak damage control
I wouldn't accept "print money until we're out of debt" as a good idea from yeb!, hillary or sanders, and I wont accept it from trump
>>73692517
>Exposing the central baking jew
>mfw
>>73693112
He didn't state it as an idea, though. If you have to rely on strawmen, it suggests you don't have anything better. That's not good.
>>73692517
> Literally quoting Bernanke
While true, the motives behind the quote are disconcerting.
Can anyone explain to me the consequences of lowering int rate for treasury bonds/ a fluctuating int rate for "safe" gov investments like municipal holdings? The people holding massive US debt are rich are they not?
>>73693112
You are already tacitly accepting it from every viable candidate, and you have been tacitly accepting this type of keyensian policy for the past decade or so.
>>73692868
but that shit happens all the time. the federal reserve is a load of shit. do you think you know how this world works?
>lately
humans havent changed much in tens of thousands of years
>>73692517
That's true. That's literally how it works.
I hate retarded neolibs so fucking much
No a sovereign country can never "default on a debt" that's fucking retarded
>>73693907
t. a Greek
As the sole, sovereign issuer of a fiat, floating-rate, non-convertible currency, with all of its debts denominated in that same currency, the U.S. Federal Government can issue as many dollars as it wants, at any time, to anybody, for any reason. Solvency is a non-issue, as there is never a payment that a currency issuer cannot make in its own currency.
Anybody who applies the following expressions to the U.S. Federal government, including, but not limited to:
>"broke",
>"bankrupt",
>"insolvent",
>"going to default",
>"running out of money",
>"where's the money going to come from", >"can't afford X",
>"dependent on taxpayers/Treasury investors", >etc. etc.
can be immediately dismissed and declared to have absolutely no concept of how U.S. fiscal policy and operations work.
>>73694014
>Greece
>sovereign
KEK
E
K
they are an EU vassal state that can't print their own currency
inb4 muh Peter Schiff hyperinflation
https://www.youtube.com/watch?v=1Zh_mjS8bQg
>>73692517
They just put up and article about a majority of debt being from the US reserve. Look it up.
>>73694092
>muh Peter Schiff said there would be hyperinflation he's never wrong!!!
https://www.youtube.com/watch?v=IensTRn_v2U
>>73692517
Makes obvious statement that says next to nothing.
Media "Trump planning to destroy US economy!!!"
....watch his poll numbers go up
>>73693907
Keynesian master race here.
Trump is right and the best option economically speaking
>>73692517
MMT is globalist bunk sponsored by socialists.
isn't that basically true? like if china came to us and said "you owe trillion dorrar, you pay now! you pay now!" we could just print up a trillion dollar bill and give it to them.
sure it would cause massive inflation and pretty much rekt the economy, but it's not like we would have to default, foreclose the country, and give the chinks the keys. is that what he's getting at?
>>73692517
Well technically he is right, ecen if it sounds a little bit retarded.
>>73692883
He's become exceedingly efficient at it
>>73693907
>average global growth: 3.2%
>lowest US quintile's growth: 15%
Huh, really makes you think.
>>73692517
This is absolutely true although irresponsible to do in practice. You'd have to be a hypocrite to support the current government and then turn around and criticize Trump for this.
>>73693017
> All he has to do is get a haircut
>>73692883
>liberal shillary cucks are finally accepting he is going to be the president
About time you faggots came around.
>>73692517
He didn't say it as if it were a good thing. Don't fall for this media bullshit
>>73694286
>sure it would cause massive inflation
Oh look
another Peter Schiff
https://www.youtube.com/watch?v=eicJ384DO0w
>>73694464
too bad wages have stagnated while housing prices have gone up
kind of breaks your neolibshit narrative
>>73692517
They didn't even get the full sentence. Holy shit this is out of context.
>>73694593
>everything is great guys
>neoliberalism totally works
>pls more immigrants nao!!!
>>73694473
Trump is not saying this should be done. He is saying it could be done. He actually wants to do the opposite and reduce debt.
Trump needs to learn that you can't get on TV and say, we could do X, but I want to do Y, because that level of abstraction, of saying what you could do but you won't do, is too complex for the majority of Americans.
>>73694675
>reduce debt
government debt doesn't matter
only private debt matters
He's not wrong in real terms, to be fair. We all know that printing your currency into oblivion is a path to failure, but the US certainly isn't in danger of defaulting on its debts. You could pay all of your debts off today if you wanted by simply printing the relevant amounts, no problem. The issue is that immediately after, your currency becomes virtually worthless and fucks you over for generations, if not forever.
>>73694511
i was admitting i have only a basic grasp on economics and asking if my take on this was correct. i don't know what part of my post gave you the impression otherwise.
are you saying printing a trillion dollars in one day and then sending it off into the wild wouldn't cause inflation? i thought that was something everyone would agree with, but again i'm no expert.
>>73694670
Thank you based burgerbro. Neoliberalism is a cancer.
>>73693219
Help!!
>>73694869
No
hyperinflation is caused by some outside factor, you don't "spark it off" by printing money.
https://www.youtube.com/watch?v=toW2oEhNZmk
After the wall street crash in 2008 the FED created $13 trillion and nothing happened.
>>73692683
ITT Americans do hel gud ekanumiks
>>73695135
>muh gold
>muh hyperinflation
Straya at it again
https://www.youtube.com/watch?v=gvrJDGo93ik
>>73694464
That's 3.2%/yr compared with 15% total for the lowest US quintile
>>73695131
To add to this, Japan has been printing money for the past 25 years at roughly twice the rate the US has, has twice the national debt/GDP, and they have experienced deflation and the world's lowest interest rates for much of that timeframe.
If money printing on its own could cause hyperinflation, it would have happened in Japan long ago. Hyperinflation happens because of a natural disaster, losing a war, a civil war, a dictatorship getting toppled, foreign denominated debt (the US and Japan have none), etc. It has never happened because a country "accidentally printed too much money" and it never will, that's just a Schiff/Maloney sales pitch/fantasy.
>>73693907
>post-WWII economy
>"""Keynesianism did it"""
Explain how the US became as wealthy and successful as it did on a gold standard.
>>73693137
He better stay away from any grassy knolls or he will get his ass Kennedy'd
>>73692517
>>73693112
Give the article or whole interview
After the past week of MSM ripping his quote out of context, I can't trust anything.
>>73693907
>>73694201
It's fiat currency so who cares
>>73695878
That quote is ripped way out of context; I watched the whole interview. He never said we should do it; he just said it as an aside comment (which is true).
https://www.youtube.com/watch?v=9I0NbF34cd8
>>73695827
we had no aristocracy, we had free domestic trade, protectionism, and only let in white people.
But there were panics every ten years until we left the gold standard in 1933 (after the great depression started)
the gold standard is a hackneyed old meme and hyperinflation is a joke.
https://www.youtube.com/watch?v=ch-cuMIcmXQ
>>73692517
Well, most people will think the statement is retarded because they have no idea what is a central bank therefore "hurr durr printing money, what is he talking about, is he retarded?" But that's what the central bank fucking does whether you agree or disagree with the policy.
It's like that time I said light was electromagnetic radiation to a stupid person, which is 100% right but that person thought I was stupid because " hurr durr radiation, light is not radioactive! What a moron!"
>>73695990
>Austrian """""""""""economics"""""""""
https://www.youtube.com/watch?v=5AC2yStAIlU
>>73693907
How would Keynesianism stopped China opening its borderline slave labour factories to the world?
>>73692517
This is EXACTLY what the US government has been doing, though.
>>73693203
Only if you are a retard who didn't actually listen to the interview.
>>73696321
neolibs are the ones that push for outsourcing because "muh low wages so good"
same for mass immigration. They justify by saying "low wages=good"
>>73696321
Under rated post.
>>73693112
it was a part of an interview, avalible on youtube we had alot of threads about it - CNN rekt and so on.
He stated it as a response to a question from the host, i dident get the impression that he in any way was arguing for massive printing, but merley stating it as a fact - that if you print your own money, then you can never default on loans.
>>73696404
Go back to predicting hyperinflation, Peter
https://www.youtube.com/watch?v=mCUvQsyyBm8
>>73693907
>the 70s are under "We All Grew"
What? That decade was horrible economically. I love stagflation.
>>73696508
>OPEC raised oil prices because muh Israel
>world economy crashes
>hurr Keynesianism so flawed
Go back to counting your gold coins.
https://www.youtube.com/watch?v=PLGoJCmwMlM
>>73696404
It's not. Neoliberals are the biggest proponents for mass immigration. Labor cost lowers and that is good for them.
>>73696056
>the gold standard is a hackneyed old meme and hyperinflation is a joke.
You mean like how everyone with some economic insight keeps liquidizing their assets and dumping it in gold and silver, when shit goes haywire because Government planned economies and monetary systems fail?
Or, how the stock market literally follows the money supply from QEs, done to combat a stagnant economy? Pic related, just disregard the boxes and zoomed in shit, that was for another thread.
The Fed can't fight deflation forever. It will happen sooner or later, and their answer is either to let it happen, or hyperinflation.
>>73692517
He's calling out the kikes
HOLY SHIT
GOLDBERG ON SUICIDE WATCH
oh wait, donald's just acting like an ignorant faggot as usual.
>>73692728
He was being sarcastic
>>73696508
There was high inflation and it was annoying, but wages kept up and Jimmy Carter was actually the ultimate Jobs President. Only FDR, Harding/Coolidge, and LBJ had higher average annual job increases.
>>73696408
I've had to explain this before. He gets into trouble because he still thinks he's a media personality having on air conversations with other media personalities, instead of the reality that he is now a hated far right extremist being interrogated. Compared to other politicians who are focus grouped and opinion polled then polished to perfection before they go on air, Trump is highly nuanced. But, that also opens him up to gotcha questioning.
>>73696054
Thank you
>>73696620
Just give up Peter
https://www.youtube.com/watch?v=wX3D8ATsw_Q
No one is buying yous scam anymore.
>>73696660
No disrespect for Trump, but I sincerely don't believe he has the guts to take let the US economy entering a deflationary phase.
>>73696620
>*47
>*250
You can make any two lines with a positive slope look like they track one another perfectly if you pick the right fudge factor.
>>73696473
Did not say anything for or against keynesianism. I'm just saying both approaches are useless if you have open trade with countries with whom it is just impossible to compete with.
>>73696797
If he's able to enact his national economic strategy, we're going to hit a hard reboot in our economy that will last about two years. But it will be worth it in the long run.
>>73696604
I never said anything about Keynesianism or neolib. I'm just saying the 70s were shit economically compared to the 50s and 60s.
>>73696684
>wages kept up
Uh no they didn't. That's when the whole mess started.
>>73696848
You're not even showing the same elements, dipshit. Also, factors don't matter in correlation.
>>73696797
>deflation
wat
Neolibs are always saying the sky is falling over hyperinflation not deflation. Are you reading the wrong script
https://www.youtube.com/watch?v=kCNvZsM6e2w
>>73696996
> I'm just saying the 70s were shit economically
real wages still went up despite the oil crisis (caused by God's chosen people in Israel)
real wages didn't begin to decline until mass immigration and outsourcing really took hold.
Reminder to hide and sage shill threads.
>>73692517
Taken out of context. He said it's not a good thing.
>>73696790
Shut up, Krugman.
https://www.youtube.com/watch?v=Ne4YJYLm62g
>>73692517
It's actually true, but we wouldnt be able to buy anything anymore. Lickily, the US is capable of self sufficiency. No one wasn't this to hapoen, the point is we can.
>>73697138
>Neolibs are always saying the sky is falling over hyperinflation not deflation. Are you reading the wrong script
No, you just don't understand how the Federal Reserve operates.
>>73693112
You dont take it literally you fucking putz. Hes saying our manufacturing has the potential to practically print money
>>73697200
>posting a video by a gold salesman
https://www.youtube.com/watch?v=BSEoJMNZbl0
>>73697263
>>73697200
>muh gold
kek
>FED is deflationary
kek that's the opposite of what every neolib has been saying for decades
>>73697334
No. He's saying we can actually print the money. If China decides to call in our debt, we can answer with, "How do you want that, Fed notes or Treasuries?"
You people are retarded. This is something every country does, and it's not being stated like it's a good idea.
>>73697389
What he predicted ever since getting into Economics:
2008 Real Estate crash
Russian Oil crisis in the early 10's
What Keynesian economists like Krugman or Yellen has predicted so far:
...
>>73697519
The Federal Reserve is NOT deflationary, jesus christ dude. They FIGHT deflation and money supply contraction (from mass defaults) by printing currency.
>>73692517
Trump is fucking nuts if you care about the future
but to fuck shit up for the lulz ?
http://heatst.com/politics/just-print-dollars-donald-trump-wants-america-to-be-zimbabwe/
>>73697755
>They FIGHT deflation
wrong again
currently they exist to save Wall Street's ass
http://www.unz.com/mwhitney/the-chart-that-explains-everything/
>>73697835
>EU slave state thinks it understands economics
>>73697933
>currently they exist to save Wall Street's ass
By doing what exactly? I already know the answer, I just want see if you're actually aware of what you're arguing for here.
>>73693137
>baking jew
Typo or not, it gave me a chuckle
>>73698146
read the article
I know that's hard for goldbugs to do, but you should read something other than Peter Schiff's gold propoganda.
>>73692517
He's rich enough to know that economics only works because people believe it works and woke enough to say it.
>>73697519
>>73697755
in the 80's the FED was desperately trying to stop high inflation that was killing the economy, the exact same thing Trump wants to start by printing
>>73693017
Would he be able to get this haircut with this hair? Looks fucking great.
>>73697755
Krugman predicted the real estate crash in 2002
http://www.nytimes.com/2002/08/16/opinion/mind-the-gap.html
Krugman also predicted, in 2009, that since the stimulus was too small, we'd have a weak recovery with slow growth and low inflation, which is exactly what happened, while Austrians were screaming about hyperinflation around the corner.
http://www.nytimes.com/2014/02/21/opinion/krugman-the-stimulus-tragedy.html (links to 2009 call in article)
>Russian Oil crisis in the early 10's
I'm not that impressed. His book says that we're going to have inflation, then deflation, then inflation, then deflation, then hyperinflation, so basically no matter what actually happens, he can say "look! I predicted this!" He's not actually "right" about anything unless we have hyperinflation in the end, because an inflation/deflation cycle is always the way economies go. He also said that 2010 was the START of the precious metals bull market, when his channel opening was basically the ultimate contrarian indicator. I'd chalk up his oil call to luck.
>>73698242
>in the 80's
you have no idea what you're talking about
go buy your gold now
>>73692517
He's not wrong
>>73698098
> southern Europe remained highly corrupt and inefficient
yes, that is their problem.
the US has states that don't perform well, too
>>73698331
well at least everyone is aware of you not knowing anything about economics
>>73695131
>nothing happened
Printing money dilutes the value of money. It's insidious version of a flat tax. It certainly has an effect, it hits hardest on those who have the least.
>>73698319
>you have no idea what you're talking about
really?
https://en.wikipedia.org/wiki/Early_1980s_recession#Inflation
This whole thread:
>"I know more about money than a multi-billionaire international businessman"
>actually attempting to argue with trumpdrones
It doesn't matter what he says, they'll always pull the "b-but he didn't mean it!" bullshit. If Trump released a statement tomorrow saying he's going to murder every baby in America if he's elected, /pol/ would be on full damage control trying to convince people that Trump isn't a lunatic.
>>73698286
Everything Peter Schiff does is a scam to get gullible idiots to buy gold
https://www.youtube.com/watch?v=2rNN-FHmYK4
He endlessly predicts collapse, then finally when something happens he says "see I predicted it!"
>>73698564
> It's insidious version of a flat tax. It certainly has an effect,
kek no
wages and prices go up so it has no effect on anyone except people who don't invest
>>73698613
https://en.wikipedia.org/wiki/1970s_energy_crisis
like I said
you have no idea what you're talking about
>>73698745
I am now a #Cruzmissile
Yeah. Trump is right but it would have horrific consequences so normally no one ever proposes it.
It was terrible that Trump proposed it but he did the typical thing where he handwaves it to give himself wiggle room later based on people's reactions.
![Alam-Q[1].jpg](https://i.imgur.com/F0HaaQ7.jpg "Alam-Q[1].jpg")
>>73698531
http://www.cnbc.com/id/44051683
>>73692517
>cnn
okay there goy
>>73698875
>it would have horrific consequences
>muh hyperinflaiton
>muh gold
every time
https://www.youtube.com/watch?v=1YLQaYHipb0
>>73698237
I have read it, and I think you're just too stupid to actually understand it.
When the 2008 crash happened, the Fed initiates QE by lowering interest rates. This drives up stocks, and keeps the economy on life support. Still, if the QE stops, and private debt can't be paid back, and insolvency takes over the market, what is the only thing that can happen? Defaults.
Now, since debt = dollars, this WILL trigger a deflationary phase in the economy, until an equilibrium between excess savings and demand for loans is reached; unless tampered with. The Fed CAN continue to fight deflation, EXACTLY by printing more money. But at some point, it's just not going to help, as the exponential nature of it will take off faster than they can react.
The article you linked doesn't even deny this, it only reinforces this fact.
>>73698861
>like I said
what you said was that you had no idea that the FED was battling high inflation
>>73699080
Too bad you missed everything relevant
>Think about that for a minute. Not only was the US banking system hopelessly underwater, but also the world’s most lucrative and powerful industry was about to be removed from private hands and “nationalized”. Shareholders would be wiped out, bondholders would take severe haircuts, management would be replaced, and credit production would be returned to the representatives of the American people, US government officials.
The FED's current policy is to save wallstreet and fuck over the economy not "fight deflation"
>>73699146
Hyperinflation wasn't the problem
the energy crisis was
>>73699288
I'm gonna ask one last time.
What are they saving Wall St. from?
>>73699288
> Hyperinflation wasn't the problem
do you have any idea what a 20+% rate does to the economy? the borrowing cost was even higher, just imagine that. just imagine being a home buyer, student or anything like that in the 80's.
"Determined to wring inflation out of the economy, Federal Reserve chairman Paul Volcker slowed the rate of growth of the money supply and raised interest rates. The federal funds rate, which was about 11% in 1979, rose to 20% by June 1981. The prime interest rate, a highly important economic measure, eventually reached 21.5% in June 1982.[4][15]"
>>73698861
>wages and prices go up so it has no effect on anyone except people who don't invest
What happens is that your money will be worth less while the price of foreign goods stays the same. You won't be able to buy as much effectively making you poorer.
Also the wealth isn't spread evenly across the economy, those who get to drink the FED special money faucet get the most while the rest get the scraps of some nonexisting multiplier of a multiplier effect.
>>73692517
>Trump is an idiot.
more news at 11
>>73696199
>Adjusting gold to inflation
No shit, gold is a commodity that maintains value against Fiat currencies, if you discount inflation then of course gold won't look as attractive.
That video is fucking retarded.
>>73699816
Why buy something that only tracks inflation when there are other assets available known to have a real return greater than 0%?
>>73699955
Because people want their savings to combat inflation without major risks?
>>73699485
All the toxic assets on their balance sheets left over from the sub prime crisis
did you even read the article?
>>73699494
Hyperinflation was the symptom of the energy crisis not the cause
>>73699663
which is good for your countrie's exports
>>73700026
Enjoy your deflation spiral
>>73699955
>a real return greater than 0%?
Here' the thing: If something can have a return larger than 0%, then it can also have a return less 0%.
Gold maintains value, and has done so for 5000 years. This is why it's "sound money".
>>73700118
>All the toxic assets on their balance sheets left over from the sub prime crisis
>toxic assets
You know what that implies, right? Fucking insolvency.
It even states so in the article.
>The chart suggests that the Fed’s primary objective was to reflate stock and bond prices to help the banks grow their way out of insolvency and avoid government takeover.
>>73700026
Gold is very risky and volatile, though. For example, gold has dropped by 10% 113 times since 1975, compared with only 62 times for the stock market. Gold also returns 4.77%/yr on average, vs. 8.88% for stocks.
Bonds, on the other hand, have only dropped by 10% 13 times in the same time period. If you truly wanted to combat inflation without major risks, that's what you'd buy.
I'm going to take a wild guess here and speculate that you simply enjoy the feeling of hiding in your bomb shelter with your Alex Jones water filters and canned beans while stroking your gold bullion. That's fine, but don't hide behind "combat inflation without major risks" when that is factually inaccurate.
This Dane is destroying people
>>73700760
>Fucking insolvency.
which could be wiped out easily
You are basically saying we should be punished because Goldman Sachs says we should be.
>>73692517
He's right though.
>>73692793
Indeed.
>>73700760
>Here' the thing: If something can have a return larger than 0%, then it can also have a return less 0%.
How long of a timeframe are you talking here? When people say "gold has a real return of 0%", they are referring to an infinite time horizon. Over that same, infinite time horizon, stocks, bonds, and real estate have positive real returns. So if you're talking about buying something and holding it forever, you don't want it to be gold.
Everything, including gold, can have a negative real return over a given period. See gold, 1980-2000, and 2010-2030.
>Sanders: U.S. will never default 'because everything is free'
>>73701138
>which could be wiped out easily
Explain to me how, and I will forward your answer to the U.S. Federal Reserve, so you can become the new chairman; granted it actually makes sense, and doesn't perpetuate the same exact same method the Fed is currently employing.
>>73692517
He is making an ambiguous statements which could be true, or false, depending on the narrative, and forces people to think about the topic. Then, they turn to Trump for clarification, and he slices through all opposition with his sword of truth.
It is the basic principle he's used for making deals. Come at 200%, let them stew on it, then take the 100% offer.
He is making deals with every American who votes for him.
>>73701347
Debt Jubilee
https://www.youtube.com/watch?v=rGkmgnprrIU
Dissolve all the corrupt institutions that used fraud to wreck the economy (Goldman Sachs, etc)
There's no reason to keep them around or the debt around.
>>73701347
The federal reserve is a privately owned billionaire circle jerk that prints money backed by no gold, whenever they need it, creating the economy on the back of American debt.
There's a reason the housing market crashing fucked the economy hard, people stopped creating debt. Now debt falls primarily into the hands college students, and college debt.
Now, college graduates have no jobs and are failing to pay their debt, medical debt destroys livelihoods because of the insane price inflations.
We are witnessing the middle class finally being stomped out, but those greedy fuckers don't realize without the middle class, there's not going to be debt. The economy will collapse, as the middle class fall into a welfare state.
>>73701521
How is dissolving corrupt institutions gonna make money appear in the pockets of lenders, when borrowers can't pay back?
I'm not gonna watch a 24 minute long video, because likely you haven't understood anything discussed in it, just as with the article you posted before.
Explain to me, using your own fucking brain and not Youtube, how deflation can easily be avoided.
>>73701866
This has nothing at all with how deflation through insolvency can be avoided. But your posts resonates greatly with my own understanding of the 2008 crash.
>>73701521
It's always fun how close keen comes to naming the jew, but never quite doing it.
Daily Reminder:
No one is being paid to shill for Hillary by the way. It's a Republican-funded lie and a pathetic attempt to smear her campaign.
>>73701275
I yield the point to you, that indeed does the purchasing power of gold vary, in a market that mainly accepts fiat currency.
However, the rule of thumb is that an ounce of gold will buy you a really nice suit. That was the case in the 19th century, the 20th century, and also in the 21st century.
This store of value is crucial, as it is perfect for transferring wealth when a monetary system fails.
>>73702074
>How is dissolving corrupt institutions gonna make money appear in the pockets of lenders
banks create money
>I'm not gonna watch a 24 minute long video,
That just shows you have no interest in this topic
>Explain to me, using your own fucking brain
If I don't use references you'll just dismiss what I say for having no source
>how deflation can easily be avoided
Deflation can be avoided by FED/government policy.
It's our policy today to have low inflation (and therefore a stagnant economy and GDP growth) in order to help the banks.
>>73692517
He is correct. There is no harm in printing more money as long as there is demand for the country's money. Fortunately, there is tremendous demand for US dollar and people want to lap up US government debt (as shown by abysmally low yields on US Treasury bonds, which also show low inflation in the long-term).
I would even argue that US is not borrowing enough money, since treasury yields are so low. And this is dangerous for the economy. Low treasury yields show that market wants safe assets. If US government is not borrowing enough, investors will be pushed into more risky areas creating new bubbles.
>>73698691
>implying trump doesnt say autistic shit on the regular to rile up and generate more supporters.
"we can take back our jerbs from Chyna"
But they use slave labour and give no fucks about worker safety/health.
"hes a multi-billion dollar business man he knows business"
>its another were all smarter then a billionaire buisness man even though were pathetic neets episode
technically trump is right.
>>73702315
Your ban just finished then.
>>73692683
The vast majority of America's debt is already owed to itself, our external debt is pretty insignificant. Its why things like the $1 Trillion Platinum coin are actually possible.
>>73702920
>But they use slave labour and give no fucks about worker safety/health.
That's why you don't import their shit, retard
>>73702921
Goldbugs are autistic like all libertarians
http://reason.com/blog/2011/07/20/being-libertarian-may-cause-au
>>73702479
>banks create money
If you're referring to fractional reserve banking, then yes, you are correct. This does not explain how to avoid deflation in the coming years, if the Fed stops printing money and giving it to Wall St.
You have to remember that debt has to be cleared at some point. The CURRENTLY existing debt also has to be cleared. If that debt is cleared through defaulting, then that subtracts itself from the money supply.
Breaking up Wall St. institutions is not gonna make the debt go away, and make money fall into the pockets of lenders.
>Deflation can be avoided by FED/government policy.
WHAT policies. You seem to have it right on your tongue, but you can't even summarize the essence of the video you posted? It's all well and good that the policy is to have low inflation, but that does NOT combat insolvency. QUITE. THE. CONTRARY.
I could just post 20 Mike Maloney videos for you, but again, like the other one I posted, you will just disregard it and go
>LELELEL MUH GOLD MUH GOLD KEKEKEK
So don't give me that bullshit.
In my masters macroeconomics class, my professor, obviously still not sure, declared that the US debt "doesn't """matter"""". Basically that their debt doesn't affect "real" things, like roads, consumer products, health, and all that quality of life stuff.
But like I said, he didn't seem 100% sure.
>>73702921
Technically, you're also right to say that one way to fight withdrawal symptoms from drug abuse, is to take more drugs.
>>73692517
it doesn't sound like he's advocating a policy he's just stating a fact, and one that has been acted upon since greenspan
trump's actual policies were to get rid of the debt by selling federal properties and doing some other stuff
>>73692517
He is an idiot.
the banking class won't like trump becuase he's honest about what bankers do
1. default - oh i would just renegotiate the debt interest rate with creditors
2. default - actually we can't, we can just print forever
>>73703685
Leasing federal properties. I don't think he's advocated selling them.
Donald's business acumen:
http://www.youtube.com/watch?v=owgPCYGxjfE
>>73692517
He's an idiot, that doesn't know shit about economics apparently, or he is just trolling.
Yes technically US can print their way out of debt, that does that mean they wouldn't wreck their entire economy with hyperinflation if they would actualy do it
>>73704196
love diaz's stories. he always talking about doing crime, not sure if any of his stories are true, but he believes it when he says it
literally the truth. trump might be redpilled on the monetary system.
>>73704435
Dude's legit. I believe every word he says about Trump at least, if only because that video is from last year before he was even taken seriously as a candidate.
>>73704435
Diaz's stories are no different than the classic fish story. He caught a 7 inch bass, but he tells you it was a 16 inch bass. the stories most likely happened, just not the way he tells them
>>73703320
>fractional reserve banking,
kek quit living in the past
banks create credit by lending they aren't tied to reserves
>Breaking up Wall St. institutions is not gonna make the debt go away,
All it requires is the will to do so
>WHAT policies.
creating money
>20 Mike Maloney videos for you
kek pls do
You autistic Austrians """"""economists""""" are amusing
> MUH GOLD MUH GOLD KEKEKEK
>goldbugs sperging out
as I expected
>>73703454
it's true. the US government doesn't issue debt because it needs to "borrow" money from somewhere, it can print money if it wanted to. it issues debt because there's a demand for safe stores of value. the US debt load is a charity to the world and the banks. there is so much under-utilized capital in the country so massive unemployment that the US could fund itself just by printing money without significant inflation.
printing money only causes high inflation in a scenario of full employment, or with serious supply constraints.
>>73702619
>US is not borrowing enough money
>>73704712
wow, someone on /pol/ who knows what he's talking about.
>>73704823
its true, rates are low, inflation is low, there's a demand for safe assets and US treasuries are the safest of all assets. no reason not to borrow more if you accept that the government should fund itself by issuing debt.
of course, the government could just fund itself by printing money. we're so far from full employment that it wouldn't result in high inflation. but if the US wants to be nice to the rest of the world, it could take on a lot more debt.
>>73692517
>world
>reserve
>currency
>false
>fractional
>reserve
So long as you can maintain an army that makes sure almost no one trades oil in anything other than USD, or creates another block of threatening currency by keeping the BRICS in check, you're golden.
...and yes, that's exactly how we got to where we are. You really think we actually paid for all this shit legitly? Technically, our army alone is worth more than the entire world's economic reserves.
>>73704554
>>73704661
i love diaz. he thinks he's a cuban gangster
ya, i mean NY is a dirty place, if trump was busy fucking every contractor or in deep with mob it would keep with him; but he likely just dealt with whatever powers that be. the ones in his books he complained most of was mayor Koch - so i think the mob he had a problem with was the italian mob
The UFC is owned by mobsters and they weren't let in NY for a while, because they were texas/vegas mobsters.
>The book alleges numerous dealings that Trump had with the likes of Gravano, Sater and others in charge of mob-controlled concrete firms, construction companies and unions.
>Trump issued a statement at the time of the book’s release calling Barrett “a second-rate writer who has had numerous literary failures.”
>“The book is another example of Mr. Barrett’s personal prejudice and animosity towards me,” Trump said in the statement. “The book is boring, nonfactual and highly inaccurate.”
>But Gravano himself insinuated a relationship with Trump during a 1997 interview with ABC’s Diane Sawyer.
>“I literally marvel at the sight of Manhattan when I see it, because I controlled it,” Gravano said. “I literally controlled Manhattan. When I see it at night — those lights and everything about it — I think of Donald Trump and Tishman and everybody else who couldn’t build a building if I didn’t want them to build it. That got me off. Plus, I made a lot of money with it.”
>>73705114
>>73704554
>>73704661
>ya, i mean NY is a dirty place, if trump was busy fucking every contractor or in deep with mob it would keep with him; but he likely just dealt with whatever powers that be. the ones in his books he complained most of was mayor Koch - so i think the mob he had a problem with was the italian mob
I meant to say NOT the italian mob - a different mob
>>73692839
Yeah it's almost like he has a tendency to say mostly borderline retarded things, I wonder why anyone would ever point that out. They must all be Jews.
>>73705260
what is the retarded thing he said? the quoted item is just a fact. the only thing you can criticize him on is actually saying it whereas the bankers pretend that they'll never do it, until they decide they do it
