I’m sorry, but economists...
Comments
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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.
