Rising costs of everything........
- Thread starter OG Goat Holder
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We’ll see. I’m optimistic though. Manufacture, baby, manufacture!
Ignorance is bliss.
You can lead a horse to water, but you can't make em drink.
Both sayings apply perfectly here.
Yeah, but how is being arrogantly stupid working out for you?
All this. I don't know when we stopped being able to criticize our own, but if we don't they will do stupid shìt from time to time.
615 doesn't need to watch this., but I'll drop this here. In about 2 minutes Milton Friedman explains inflation causes and solutions better than anyone else could in a semester long course.. Please watch.
Any tariff leveed will be payed by the American consumer. They are not payed by foreign countries. They are essentially sales taxes on foreign goods.
You also can’t say that liberals are criticizing tariffs when Biden continued Trumps tariffs on China and added even more!
Tariffs do not work.
^ yeah, it's been surprising to see how many anti-Trump folk have shown surprise when told Biden largely kept many Trump tariffs in place.
Which is what’s so hilarious about all of this.
Tariffs have always been one of the most anti-Republican policies out there. Artificial market manipulation / regulation is absolutely the antithesis of free market capitalism that economic conservatives have championed for decades. Yet here Trump is making it his calling card, again. The man is not, and never will be, a Republican. He’s just a prick and an opportunist that filled a power vacuum on that side of the aisle.
I can say it bc they weren’t saying **** all that time until Trump started mentioning it again.
I‘m not trying to be glfr and pretend I know it all or understand it fully. That’s why I asked the questions I did. I’m just trying to be optimistic that this will help America by leveling the playing field between American-made and China-made crap. We’ve got to bring manufacturing back here and I hope this is one way to do that.
Touche'. That's we we bought whiskey with all that stimmy and PPP.
If the dollar crashes, you want to hold something other than dollars that holds its value (or increases in value).
The dollar has crashed and continues to crash. It has lost 92% of its value relative to bitcoin in five years. Holding bitcoin is very beneficial in this very real scenario.
I think your question assumes that the only way to use bitcoin is to buy dollars with it. What if you have no need for dollars because dollars have no value? In that scenario, you use bitcoin to buy something that does have value.
You could have asked the same question during the Weimar Republic:
The people who held gold during the Weimar Republic had something of value when the Reichsmark lost all value. This value could be exchanged for something else of value: goods, services, real estate, businesses, foreign currencies, etc.
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You think that's something. Your BTC has lost 50% of its value relative to NVDA over the last 5 years... Not sure how you could waste your returns on that trash.
whether the foreign countries will take a hit and how much will be borne by the domestic consumer depends on the product and the countries involved, though they’re always economically inefficient. Agree that in most cases they are borne by the consumer. they can be used to successfully raise money by a government in certain scenarios
NVDA is an investment that has a positive return relative to bitcoin. There aren't many with a significant market cap.
I'm not against investing. I just judge investments relative to the best form of money that has ever existed. If an investment can't beat money (bitcoin), I'd rather hold money. That is why 80-100% of my value is stored in bitcoin.
Sure, in hindsight, I wish I had put all my value into NVDA on January 30, 2020. But I didn't. I put all my value into bitcoin. I'm too risk averse to put all my value into a single stock. If someone did, congratulations to them. But are they willing to hold 80-100% of their value in NVDA for the next five years?
NVDA has a market cap of 34,343,145 BTC. I think that is overvalued.
But I’m perfectly happy for NVDA (or any other stock) to outperform bitcoin for the rest of my life. I still would rather hold boring ol’ bitcoin.
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Well that is exactly what they are. You will pay for them. People in Canada and Mexico will not
Holy smoke! We totally agree on something. Here is one that will blow a lot of Trumpet’s minds, he is a life long Democrat and believes in everything Democrats believe in. The ONLY reason he ever ran as a Republican is that Obama personally pissed him off, and he saw an opening to power and even more riches. He has never been and never will be what he pretends to be.
Reagan Republican till I die.
Correct, it's the fastest way but it's also the extreme way and I'm not sure 6 mos would fix it anyway. And I've been yelling about the unemployment rate for a few years. We just waited too damn long on too many things, kicking the can for political BS.
The government controls the central bank but government spending is the greatest single economic problem we've got. It's a bit of a shell game. They will continue to spend no matter what.
I don’t get the comparison of gold and bitcoin. Gold has been valuable since man discovered it. Bitcoin is a number on a computer. How do you use it if you can’t access a connection to the internet?
In a true nightmare scenario, you think someone is trading you something tangible of value for a number on a computer?
Yep, and he self admits he’s not Christian either but has the chops to get the support of a majority of Christian voters on his rise to power.
What if I said the single biggest problem we have is a poor work ethic amongst the American people? Thus we keep electing people who gives us things by spending borrowed money? Unfortunately it has infiltrated both political parties at this point.
If Facebook has taught me anything it's that the Democrats manipulate the price of gas. Either they make it high when Republicans are in office to make themselves look good, or they make it lower near election time to make themselves look good.
It's inarguable, really**
It's inarguable, really**
Bro....bitcoin is boring? You could have fooled most people. It's one of the riskier things out there.
I'd say stop giving them things. It's like having a drug addict kid, you can try to help with appropriate steps, but after a point that's got to stop. You've got adults harming kids to get an extra check. And that's kid number 6 probably. You simply turn off the spigot and let them simply go down the drain.
I'm not sure the American work ethic can get much stronger:
Since 2000, labor productivity has increased 1.5 percent per year. This is because output—the amount of goods and services the economy produces—grew faster than total hours worked. With productivity glasses on, that is positive news! From 2000 to 2022, U.S. workers produced about 60 percent more “stuff” and only increased their hours worked by 10 percent.
Looking at the Growing Productivity of American Workers for Labor Day
Labor Day celebrates the dedication, achievements, and hard work of the American workforce. Here at the Bureau of Labor Statistics, we have a lot to say about workers and how worker productivity contributes to the health of the U.S. economy. In fact, gains in worker productivity are a known...
www.bls.gov
Can you tell me who we borrowed it from and where they got the money to lend us? Also, who owns the Federal Reserve?
I’ll hang up and listen
I'd say it's more of an attitude problem.....caused by what you said......politicians giving us things and promising even more, leading to expectations like being able to make a living wage working at McDonald's. That's not the point - only the manager should do that, the rest of them are kids just learning to work (and soon to be replaced anyway).
Saying that 'Murricans are spoild and urnt workin muh hard' sounds more like grumpy old man talk from hard core right wingers who just want to cut everything and claim nothing is important except for what they do and their own job.
People are people and always have been, they'll get incentivized real quick if it's there.
Now you are getting somewhere Jethro. did you notice during the COVID shutdown, State Street , BlackRock and Vanguard bought up controlling interest in every corporation in the country ? Shell companies for the guys who own the magic money machine.
I partially agree.
While there are people who have a poor work ethic, it’s more that increased numbers of employees dislike the way things have traditionally been done and don’t want their lives to be defined by their work.
A secondary issue is you have people who are upset that the opportunities aren’t available to them because of where they live but I think people have to demonstrate their willingness to work— and more have as witnessed by the many Mississippi brain drain posts here on this board.
Correct. Everyone is 17ed in a nightmare scenario outside of people who planned ahead with tangible assets they can survive on and trade with.
The BTC bros tout it for if/when the dollar collapses and the globe transitions to a new reserve currency. They can simply sell for new currency and trade in that. They may think it will be the new reserve currency as well. Either way...the hype behind that drives the price up. Still doesn't change the fact that it's backed by nothing but vibes and hopes that the dollar sucks.
To me, if the dollar crashes and my portfolio's USD value goes with it, I still have ownership interests in profit generating businesses that own tangible assets/processes (ie they do things people need). If the dollar can't buy my stock certificate, then some other currency would. I'd prefer for the dollar to be stable, but ultimately I don't care if I have to cash out for USD or wompum (or BTC) so long as I'm selling for fair value of the assets and can use whatever currency I'm settling in.
So at the end of the day, would I rather invest in a stable operating business or a digital currency? Still haven't heard any decent argument for digital currency that doesn't sound like pure speculation on an intangible idea.
This is me too. I'm optimistic that (related to ckDOG's comment) Trump and his team HAVE studied this tariff issue and will do more targeted tariffs and already have working plans for manufacturing in the US. I highly doubt he/they are just going into it willy-nilly and wildly throwing tariffs around without considering all that. I know glfr and horshack are going to disagree with my assumption about Trump's intent.
And about the overall tariffs on China and Mexico (and other countries he threatened), I think those are mostly negotiating tactics. He may even have to make some of them official to show he's serious, but I think the day they take effect, Mexico at least would start backing down. China may welcome the face off, who knows.
Overall, Trump is America first and is willing to face down other countries if he thinks it puts us in a better position long term, which I appreciate. I don't always like what he says or the way he says it, but I'd damn sure prefer his bluster to our recent approach of taking it up the rear while whispering "Don't".
3 companies hold controlling interest in every US corporation?
I mean, I know your comment cant be taken literally, but even with a whole bunch of leeway, this is an absurd comment.
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