I’m sorry, but economists...
Comments
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My current "team player" plan for stimulating the economy with my bailout check is throwing one of these in the shop:RaceBannon said:
Basically my weed budget1to392831weretaken said:
This is why the government should only send the $2K to people like me: It wouldn't be necessary, but, hell, I'd sign a contract if they want that guarantees I will blow all $2K of it in the name of stimulating the economy. I'm a team player like that.GreenRiverGatorz said:
Interestingly enough, neither does Krugman. For as much as the guy advocates for seemingly endless spending, he at least wants it to go towards something. Free money to people who are just going to stash and create more of a savings glut helps no one.YellowSnow said:
Probably someone like Krugman.HoustonHusky said:Guy got a question on if there is a limit to how much money the Fed can print and how large the Federal Government deficits can go and he replied by saying 'the interest rates are incredibly low so the Federal Government should be borrowing everything it can'.
Same guy literally got several questions about unnaturally high oil prices considering the reduction in usage, rapidly rising housing prices, and if the stock market is overvalued and then went on a long talk about how amazingly low inflation numbers are...
Guy forecasts 6% GDP growth for at least the next 2 years...
Had a sweet graph too on how the economy as a whole will be above prepandamic forecasts for 2023 if we pass the large stimulus in front of Congress...admitted under questioning that there is a minor assumption of just using standard multipliers (i.e. if you borrow 10 trillion than the GDP will grow to 50 trillion, or the more the govt spends the better the economy looks...).
With these folks in charge we might get some of those Chinese empty cities built yet...
I'd avoid Spanish banks.
I'm not opposed to still borrowing money at amazingly low interest rates, but that spending has to go into things like infrastructure and/or R&D which increase productivity and have long term ROI. I don't see the point in just giving everyone $2K.
Like the good vulture I am, I'm having a hard time looking away from all of the cool toys that COVID/economic shutdown-ravaged shops are liquidating at auction.
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Hookers and blow?1to392831weretaken said:
This is why the government should only send the $2K to people like me: It wouldn't be necessary, but, hell, I'd sign a contract if they want that guarantees I will blow all $2K of it in the name of stimulating the economy. I'm a team player like that.GreenRiverGatorz said:
Interestingly enough, neither does Krugman. For as much as the guy advocates for seemingly endless spending, he at least wants it to go towards something. Free money to people who are just going to stash and create more of a savings glut helps no one.YellowSnow said:
Probably someone like Krugman.HoustonHusky said:Guy got a question on if there is a limit to how much money the Fed can print and how large the Federal Government deficits can go and he replied by saying 'the interest rates are incredibly low so the Federal Government should be borrowing everything it can'.
Same guy literally got several questions about unnaturally high oil prices considering the reduction in usage, rapidly rising housing prices, and if the stock market is overvalued and then went on a long talk about how amazingly low inflation numbers are...
Guy forecasts 6% GDP growth for at least the next 2 years...
Had a sweet graph too on how the economy as a whole will be above prepandamic forecasts for 2023 if we pass the large stimulus in front of Congress...admitted under questioning that there is a minor assumption of just using standard multipliers (i.e. if you borrow 10 trillion than the GDP will grow to 50 trillion, or the more the govt spends the better the economy looks...).
With these folks in charge we might get some of those Chinese empty cities built yet...
I'd avoid Spanish banks.
I'm not opposed to still borrowing money at amazingly low interest rates, but that spending has to go into things like infrastructure and/or R&D which increase productivity and have long term ROI. I don't see the point in just giving everyone $2K. -
Respect the creep
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That's exactly what I'm saying. There's wreckage everywhere, but at the same time, I feel like people are going stir crazy waiting for the covid shackles to come off and that sounds like the roaring 20's Part II is coming to me - but it might take a bit to get going.HHusky said:
6% isn't even particularly healthy, unless your argument is that it's healthy when coming back from a massive decline. Maybe that's the thinking here, but it sounds pretty unlikely to me as well. There are better arguments for "going big" than promises of the short term growth rate. I completely agree with everyone who has chimed in about updating infrastructure. It was the one wish list item where I was most in sync with the previous administration's rhetoric, at least.
HoustonHusky will be right eventually - because everyone who predicts a crash is right if you wait long enough - I'm thinking maybe October of 2029.
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Where again did I predict a crash?dflea said:
That's exactly what I'm saying. There's wreckage everywhere, but at the same time, I feel like people are going stir crazy waiting for the covid shackles to come off and that sounds like the roaring 20's Part II is coming to me - but it might take a bit to get going.HHusky said:
6% isn't even particularly healthy, unless your argument is that it's healthy when coming back from a massive decline. Maybe that's the thinking here, but it sounds pretty unlikely to me as well. There are better arguments for "going big" than promises of the short term growth rate. I completely agree with everyone who has chimed in about updating infrastructure. It was the one wish list item where I was most in sync with the previous administration's rhetoric, at least.
HoustonHusky will be right eventually - because everyone who predicts a crash is right if you wait long enough - I'm thinking maybe October of 2029.
Increase the money supply by 35% and the price of assets doesn’t go down...they swing hard because of the instability but they won’t stay down...they go up and up...
But in that scenario claiming 1% inflation and therefore 6% GDP growth is comical...or I should say Banana Republic economics... -
Maybe this bored isn't for you, Tug guy. You get all wound up about every subject and now you and pawz are dropping fuckoffs because you can't get your ass out of Tug mode.HoustonHusky said:
Where again did I predict a crash?dflea said:
That's exactly what I'm saying. There's wreckage everywhere, but at the same time, I feel like people are going stir crazy waiting for the covid shackles to come off and that sounds like the roaring 20's Part II is coming to me - but it might take a bit to get going.HHusky said:
6% isn't even particularly healthy, unless your argument is that it's healthy when coming back from a massive decline. Maybe that's the thinking here, but it sounds pretty unlikely to me as well. There are better arguments for "going big" than promises of the short term growth rate. I completely agree with everyone who has chimed in about updating infrastructure. It was the one wish list item where I was most in sync with the previous administration's rhetoric, at least.
HoustonHusky will be right eventually - because everyone who predicts a crash is right if you wait long enough - I'm thinking maybe October of 2029.
Increase the money supply by 35% and the price of assets doesn’t go down...they swing hard because of the instability but they won’t stay down...they go up and up...
But in that scenario claiming 1% inflation and therefore 6% GDP growth is comical...or I should say Banana Republic economics...
You called economists dumbfucks without much backing up your claim to start the thread. Put your money where your mouth is, champ. If the economy is going to lag, then invest that way. No need to rant about someone's prediction of 6% growth. You've also claimed inflation is right around the corner and the dollar will no longer be the reserve currency. I saw you're wrong.
You ok with that, or do you need to fuckoff this post, too? -
Not wrong at all. We got a preview 3rd quarter. Over 30%dflea said:
That's exactly what I'm saying. There's wreckage everywhere, but at the same time, I feel like people are going stir crazy waiting for the covid shackles to come off and that sounds like the roaring 20's Part II is coming to me - but it might take a bit to get going.HHusky said:
6% isn't even particularly healthy, unless your argument is that it's healthy when coming back from a massive decline. Maybe that's the thinking here, but it sounds pretty unlikely to me as well. There are better arguments for "going big" than promises of the short term growth rate. I completely agree with everyone who has chimed in about updating infrastructure. It was the one wish list item where I was most in sync with the previous administration's rhetoric, at least.
HoustonHusky will be right eventually - because everyone who predicts a crash is right if you wait long enough - I'm thinking maybe October of 2029.
https://www.cnbc.com/2020/12/22/us-gdp-q3-2020-final-reading.html
Need to unleash the demand soon imo -
That time of month?dflea said:
Maybe this bored isn't for you, Tug guy. You get all wound up about every subject and now you and pawz are dropping fuckoffs because you can't get your ass out of Tug mode.HoustonHusky said:
Where again did I predict a crash?dflea said:
That's exactly what I'm saying. There's wreckage everywhere, but at the same time, I feel like people are going stir crazy waiting for the covid shackles to come off and that sounds like the roaring 20's Part II is coming to me - but it might take a bit to get going.HHusky said:
6% isn't even particularly healthy, unless your argument is that it's healthy when coming back from a massive decline. Maybe that's the thinking here, but it sounds pretty unlikely to me as well. There are better arguments for "going big" than promises of the short term growth rate. I completely agree with everyone who has chimed in about updating infrastructure. It was the one wish list item where I was most in sync with the previous administration's rhetoric, at least.
HoustonHusky will be right eventually - because everyone who predicts a crash is right if you wait long enough - I'm thinking maybe October of 2029.
Increase the money supply by 35% and the price of assets doesn’t go down...they swing hard because of the instability but they won’t stay down...they go up and up...
But in that scenario claiming 1% inflation and therefore 6% GDP growth is comical...or I should say Banana Republic economics...
You called economists dumbfucks without much backing up your claim to start the thread. Put your money where your mouth is, champ. If the economy is going to lag, then invest that way. No need to rant about someone's prediction of 6% growth. You've also claimed inflation is right around the corner and the dollar will no longer be the reserve currency. I saw you're wrong.
You ok with that, or do you need to fuckoff this post, too?
I started the thread...you are the one that clicked on it and commented in it. Nobody forced you to. And I got very specific in why I thought the guy was a dumbass, although from your later comments I must not have communicated it well as you didn't appear to understand what my beefs were with his analysis. Printing money and claiming inflation is non-existent makes for great paper GDP numbers that are not believable.
And I gave you another Fuck Off for good measure...apparently it bothers you so
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Tugtard gotta Tug.HoustonHusky said:
That time of month?dflea said:
Maybe this bored isn't for you, Tug guy. You get all wound up about every subject and now you and pawz are dropping fuckoffs because you can't get your ass out of Tug mode.HoustonHusky said:
Where again did I predict a crash?dflea said:
That's exactly what I'm saying. There's wreckage everywhere, but at the same time, I feel like people are going stir crazy waiting for the covid shackles to come off and that sounds like the roaring 20's Part II is coming to me - but it might take a bit to get going.HHusky said:
6% isn't even particularly healthy, unless your argument is that it's healthy when coming back from a massive decline. Maybe that's the thinking here, but it sounds pretty unlikely to me as well. There are better arguments for "going big" than promises of the short term growth rate. I completely agree with everyone who has chimed in about updating infrastructure. It was the one wish list item where I was most in sync with the previous administration's rhetoric, at least.
HoustonHusky will be right eventually - because everyone who predicts a crash is right if you wait long enough - I'm thinking maybe October of 2029.
Increase the money supply by 35% and the price of assets doesn’t go down...they swing hard because of the instability but they won’t stay down...they go up and up...
But in that scenario claiming 1% inflation and therefore 6% GDP growth is comical...or I should say Banana Republic economics...
You called economists dumbfucks without much backing up your claim to start the thread. Put your money where your mouth is, champ. If the economy is going to lag, then invest that way. No need to rant about someone's prediction of 6% growth. You've also claimed inflation is right around the corner and the dollar will no longer be the reserve currency. I saw you're wrong.
You ok with that, or do you need to fuckoff this post, too?
I started the thread...you are the one that clicked on it and commented in it. Nobody forced you to. And I got very specific in why I thought the guy was a dumbass, although from your later comments I must not have communicated it well as you didn't appear to understand what my beefs were with his analysis. Printing money and claiming inflation is non-existent makes for great paper GDP numbers that are not believable.
And I gave you another Fuck Off for good measure...apparently it bothers you so
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Why is printing money and then claiming it's not inflation rational?dflea said:
Tugtard gotta Tug.HoustonHusky said:
That time of month?dflea said:
Maybe this bored isn't for you, Tug guy. You get all wound up about every subject and now you and pawz are dropping fuckoffs because you can't get your ass out of Tug mode.HoustonHusky said:
Where again did I predict a crash?dflea said:
That's exactly what I'm saying. There's wreckage everywhere, but at the same time, I feel like people are going stir crazy waiting for the covid shackles to come off and that sounds like the roaring 20's Part II is coming to me - but it might take a bit to get going.HHusky said:
6% isn't even particularly healthy, unless your argument is that it's healthy when coming back from a massive decline. Maybe that's the thinking here, but it sounds pretty unlikely to me as well. There are better arguments for "going big" than promises of the short term growth rate. I completely agree with everyone who has chimed in about updating infrastructure. It was the one wish list item where I was most in sync with the previous administration's rhetoric, at least.
HoustonHusky will be right eventually - because everyone who predicts a crash is right if you wait long enough - I'm thinking maybe October of 2029.
Increase the money supply by 35% and the price of assets doesn’t go down...they swing hard because of the instability but they won’t stay down...they go up and up...
But in that scenario claiming 1% inflation and therefore 6% GDP growth is comical...or I should say Banana Republic economics...
You called economists dumbfucks without much backing up your claim to start the thread. Put your money where your mouth is, champ. If the economy is going to lag, then invest that way. No need to rant about someone's prediction of 6% growth. You've also claimed inflation is right around the corner and the dollar will no longer be the reserve currency. I saw you're wrong.
You ok with that, or do you need to fuckoff this post, too?
I started the thread...you are the one that clicked on it and commented in it. Nobody forced you to. And I got very specific in why I thought the guy was a dumbass, although from your later comments I must not have communicated it well as you didn't appear to understand what my beefs were with his analysis. Printing money and claiming inflation is non-existent makes for great paper GDP numbers that are not believable.
And I gave you another Fuck Off for good measure...apparently it bothers you so
Axeing for a fren, fren.
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I think we need to clarify the view: nobody is saying printing money is bad. it's that printing money with no correlating economy to back it up that's bad, at least potentially.
sure, you have some mitigating factors, like Creepycoug's favorite "where else you gonna go" theory. that helps, to the extent you buy it at all ... @godawgst pushed back and cited India and China as alternative destinations.
but the "where else you gonna go" faith has its limits. I think we all agree that eventually the printing machine isn't creating value by itself. it's only a proxy for the economy, and if the economy is shit, then one day you realize you're playing with monopoly money.
I guess the debate is what the real state of the economy is as an empirical matter. There are some indicators that are negative, but sure, many companies, mind included, have done very well during the pandemic. The obvious companies have taken the obvious hits.
I guess we're all just waiting for the other shoe to drop. -
I'm pretty sure that I didn't say printing money isn't inflationary. Sometimes it's necessary even if it is inflationary, though.
It's pretty tough to tell what the real state of the economy is when things are what they are put there, so it isn't easy to say whether it's smart to print money like we? are. I think it's necessary, but I'd like to see increased unemployment benefits and more directed payments. I don't need these checks, but there's a helluva lot of people that do.
Other than a half million dead people and several industries completely wrecked, the economy looks in ok shape to me to get rolling again.
flea is an optimist. Only because it's less stressful than the alternative. -
Thiiiiiiiis.dflea said:I'm pretty sure that I didn't say printing money isn't inflationary. Sometimes it's necessary even if it is inflationary, though.
It's pretty tough to tell what the real state of the economy is when things are what they are put there, so it isn't easy to say whether it's smart to print money like we? are. I think it's necessary, but I'd like to see increased unemployment benefits and more directed payments. I don't need these checks, but there's a helluva lot of people that do.
Other than a half million dead people and several industries completely wrecked, the economy looks in ok shape to me to get rolling again.
flea is an optimist. Only because it's less stressful than the alternative.
I'm not going to give a stimulus check back or anything, but I'd be lying if I said I need it. I know a lot of people who really do, though. And even if the government is hellbent on spending trillions to stimulate the economy (as opposed to addressing direct needs), I can think of projects to throw money at that would have a better return for the economy than simply throwing it at people like me.
I did read something interesting lately that I hadn't considered--hell, maybe I read it here--and that is that one of the justifications for the desired relatively high income threshold for stimulus is that qualification for stimulus is based off 2019 returns, therefore people who were paid well in 2019 but who's employer shut its doors or made cuts in 2020 might miss out on much-needed help.
To me, the obvious response to that is, "Isn't that what unemployment is for? Just spend the stimulus money to increase unemployment to 100% over the affected months and make people whole." But I'm just some idiot, so I could be missing something.
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Indica @dflea !dflea said:I'm pretty sure that I didn't say printing money isn't inflationary. Sometimes it's necessary even if it is inflationary, though.
It's pretty tough to tell what the real state of the economy is when things are what they are put there, so it isn't easy to say whether it's smart to print money like we? are. I think it's necessary, but I'd like to see increased unemployment benefits and more directed payments. I don't need these checks, but there's a helluva lot of people that do.
Other than a half million dead people and several industries completely wrecked, the economy looks in ok shape to me to get rolling again.
flea is an optimist. Only because it's less stressful than the alternative. -
I’m saying printing money is bad, very, very bad. We’ve gone in 5 years from laughing at Bernie Sanders for proposing it for various programs to printing 35% of the total money float in one year and following that by planning to print at least that much this year. Not sure what will have to happen to shut that spigot off but it won’t be pretty...there will always be a “need” for just a “little” more to do some pet project going forward. It’s like crack for politicians on both sides.
The side effects will take years to be realized, but step back and think of the insanity we currently live in. The economy has been shut down for large parts of folks, I think I heard you have ~10% of the total population of LA literally standing in food lines, and we are on a finance board debating whether we are investing smart enough to beat the 20% return on the S&P500 last year.
Not sure folks realize we are witnessing a huge transfer of wealth from the poor to the rich. I think folks thought I was joking when I posted the Wall Street Playboys Tweet on the money supply went up 35% last year and if your net worth didn’t go up that much you fell behind. There is a lot of truth in that statement. -
HoustonHusky said:
I’m saying printing money is bad, very, very bad. We’ve gone in 5 years from laughing at Bernie Sanders for proposing it for various programs to printing 35% of the total money float in one year and following that by planning to print at least that much this year. Not sure what will have to happen to shut that spigot off but it won’t be pretty...there will always be a “need” for just a “little” more to do some pet project going forward. It’s like crack for politicians on both sides.
The side effects will take years to be realized, but step back and think of the insanity we currently live in. The economy has been shut down for large parts of folks, I think I heard you have ~10% of the total population of LA literally standing in food lines, and we are on a finance board debating whether we are investing smart enough to beat the 20% return on the S&P500 last year.
Not sure folks realize we are witnessing a huge transfer of wealth from the poor to the rich. I think folks thought I was joking when I posted the Wall Street Playboys Tweet on the money supply went up 35% last year and if your net worth didn’t go up that much you fell behind. There is a lot of truth in that statement.
If you aren't SERIOUSLY worried about inflation, you obviously haven't read Lords of Finance | The Bankers Who Broke the World.
(maybe I will add to the book report thread)
Look at these two graphs:
Germany post WWI
M1 money supply - the US today
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pawz said:HoustonHusky said:
I’m saying printing money is bad, very, very bad. We’ve gone in 5 years from laughing at Bernie Sanders for proposing it for various programs to printing 35% of the total money float in one year and following that by planning to print at least that much this year. Not sure what will have to happen to shut that spigot off but it won’t be pretty...there will always be a “need” for just a “little” more to do some pet project going forward. It’s like crack for politicians on both sides.
The side effects will take years to be realized, but step back and think of the insanity we currently live in. The economy has been shut down for large parts of folks, I think I heard you have ~10% of the total population of LA literally standing in food lines, and we are on a finance board debating whether we are investing smart enough to beat the 20% return on the S&P500 last year.
Not sure folks realize we are witnessing a huge transfer of wealth from the poor to the rich. I think folks thought I was joking when I posted the Wall Street Playboys Tweet on the money supply went up 35% last year and if your net worth didn’t go up that much you fell behind. There is a lot of truth in that statement.
If you aren't SERIOUSLY worried about inflation, you obviously haven't read Lords of Finance | The Bankers Who Broke the World.
(maybe I will add to the book report thread)
Quoting your own poast is always special, but allow me to rephrase ....
If you aren't SERIOUSLY worried about inflation, you NEED to read Lords of Finance | The Bankers Who Broke the World.
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Alright. I'll get it and read it.pawz said:pawz said:HoustonHusky said:I’m saying printing money is bad, very, very bad. We’ve gone in 5 years from laughing at Bernie Sanders for proposing it for various programs to printing 35% of the total money float in one year and following that by planning to print at least that much this year. Not sure what will have to happen to shut that spigot off but it won’t be pretty...there will always be a “need” for just a “little” more to do some pet project going forward. It’s like crack for politicians on both sides.
The side effects will take years to be realized, but step back and think of the insanity we currently live in. The economy has been shut down for large parts of folks, I think I heard you have ~10% of the total population of LA literally standing in food lines, and we are on a finance board debating whether we are investing smart enough to beat the 20% return on the S&P500 last year.
Not sure folks realize we are witnessing a huge transfer of wealth from the poor to the rich. I think folks thought I was joking when I posted the Wall Street Playboys Tweet on the money supply went up 35% last year and if your net worth didn’t go up that much you fell behind. There is a lot of truth in that statement.
If you aren't SERIOUSLY worried about inflation, you obviously haven't read Lords of Finance | The Bankers Who Broke the World.
(maybe I will add to the book report thread)
Quoting your own poast is always special, but allow me to rephrase ....
If you aren't SERIOUSLY worried about inflation, you NEED to read Lords of Finance | The Bankers Who Broke the World.
I am, myself, seriously worried about inflation. That's one reason why I think I might just step up home-wise once more while the money is cheap, because the home itself is a hard asset that is actually useful.
Other than that, I don't know where to go and hide. -
It's a Top 10 Business/Finance book, for sure. I'd actually put it in Top 10 History books, too.creepycoug said:
Alright. I'll get it and read it.pawz said:pawz said:HoustonHusky said:I’m saying printing money is bad, very, very bad. We’ve gone in 5 years from laughing at Bernie Sanders for proposing it for various programs to printing 35% of the total money float in one year and following that by planning to print at least that much this year. Not sure what will have to happen to shut that spigot off but it won’t be pretty...there will always be a “need” for just a “little” more to do some pet project going forward. It’s like crack for politicians on both sides.
The side effects will take years to be realized, but step back and think of the insanity we currently live in. The economy has been shut down for large parts of folks, I think I heard you have ~10% of the total population of LA literally standing in food lines, and we are on a finance board debating whether we are investing smart enough to beat the 20% return on the S&P500 last year.
Not sure folks realize we are witnessing a huge transfer of wealth from the poor to the rich. I think folks thought I was joking when I posted the Wall Street Playboys Tweet on the money supply went up 35% last year and if your net worth didn’t go up that much you fell behind. There is a lot of truth in that statement.
If you aren't SERIOUSLY worried about inflation, you obviously haven't read Lords of Finance | The Bankers Who Broke the World.
(maybe I will add to the book report thread)
Quoting your own poast is always special, but allow me to rephrase ....
If you aren't SERIOUSLY worried about inflation, you NEED to read Lords of Finance | The Bankers Who Broke the World.
I am, myself, seriously worried about inflation. That's one reason why I think I might just step up home-wise once more while the money is cheap, because the home itself is a hard asset that is actually useful.
Other than that, I don't know where to go and hide.
Virtually everything that transpired until after the Atomic Bomb was a direct result of those clowns.
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What was going on with other nations' currencies at this time? Were other nations printing currency at the same time the Germans were printing Deutschmarks?pawz said:HoustonHusky said:I’m saying printing money is bad, very, very bad. We’ve gone in 5 years from laughing at Bernie Sanders for proposing it for various programs to printing 35% of the total money float in one year and following that by planning to print at least that much this year. Not sure what will have to happen to shut that spigot off but it won’t be pretty...there will always be a “need” for just a “little” more to do some pet project going forward. It’s like crack for politicians on both sides.
The side effects will take years to be realized, but step back and think of the insanity we currently live in. The economy has been shut down for large parts of folks, I think I heard you have ~10% of the total population of LA literally standing in food lines, and we are on a finance board debating whether we are investing smart enough to beat the 20% return on the S&P500 last year.
Not sure folks realize we are witnessing a huge transfer of wealth from the poor to the rich. I think folks thought I was joking when I posted the Wall Street Playboys Tweet on the money supply went up 35% last year and if your net worth didn’t go up that much you fell behind. There is a lot of truth in that statement.
If you aren't SERIOUSLY worried about inflation, you obviously haven't read Lords of Finance | The Bankers Who Broke the World.
(maybe I will add to the book report thread)
Look at these two graphs:
Germany post WWI
M1 money supply - the US today
Because that matters. That's why no long-term inflation forecast I've seen is all that alarming.
Whose inflation forecast are you looking at that has you all rattled?
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dflea said:
What was going on with other nations' currencies at this time? Were other nations printing currency at the same time the Germans were printing Deutschmarks?pawz said:HoustonHusky said:I’m saying printing money is bad, very, very bad. We’ve gone in 5 years from laughing at Bernie Sanders for proposing it for various programs to printing 35% of the total money float in one year and following that by planning to print at least that much this year. Not sure what will have to happen to shut that spigot off but it won’t be pretty...there will always be a “need” for just a “little” more to do some pet project going forward. It’s like crack for politicians on both sides.
The side effects will take years to be realized, but step back and think of the insanity we currently live in. The economy has been shut down for large parts of folks, I think I heard you have ~10% of the total population of LA literally standing in food lines, and we are on a finance board debating whether we are investing smart enough to beat the 20% return on the S&P500 last year.
Not sure folks realize we are witnessing a huge transfer of wealth from the poor to the rich. I think folks thought I was joking when I posted the Wall Street Playboys Tweet on the money supply went up 35% last year and if your net worth didn’t go up that much you fell behind. There is a lot of truth in that statement.
If you aren't SERIOUSLY worried about inflation, you obviously haven't read Lords of Finance | The Bankers Who Broke the World.
(maybe I will add to the book report thread)
Look at these two graphs:
Germany post WWI
M1 money supply - the US today
Because that matters. That's why no long-term inflation forecast I've seen is all that alarming.
Whose inflation forecast are you looking at that has you all rattled?
Ours. (?)
As I recall from the aforementioned book, it didn't matter. Collateral (no pun intended) damage everywhere.
I also recall once wonderkin John Maynard Keyes proven to be a dipshit through this tim.
