Author Topic: Economics Culture  (Read 1349 times)

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Offline MH

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Re: Economics Culture
« Reply #45 on: September 05, 2019, 05:35:35 am »
A billion wage-slaves run by their greedy/crooked masters seem to be doing well.

Beats subsistence farming i guess.

Well... they seem to be better to their middle classes than we are.

Offline MH

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Offline MH

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Re: Economics Culture
« Reply #47 on: November 25, 2019, 07:33:29 pm »
Wow.

https://www.piie.com/experts/peterson-perspectives/trade-talks-111-trade-policy-under-trump

https://en.wikipedia.org/wiki/Stephen_Vaughn

Stephen Vaughn talks about US Free Trade.  1 1/2 hours, not for the faint of heart.  He's smart so he almost succeeds at making the American position sound reasonable, but not quite.  This much for sure, the US seems ready to blow up world trade.

The thing I can't get my head around is actually sounds RIGHT about trade policy.  In the 1990s they effectively took trade policy out of the realm of electoral politics.  And the reasons kind of seem sound.  But also not.

1) People can't be expected to understand trade policy and will knee-jerk to protectionism every time.  So why trust them with voting on it ?
2) On the other hand, it's their policy.  They will never accept globalism if it's foisted on them.

The hosts do a good job of pointing out that for 2) there won't be any turnaround for the workers even if they reject globalism.

Offline MH

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Re: Economics Culture
« Reply #48 on: December 10, 2019, 08:38:05 am »
Robert Skidelsky's Money and Government: The Past and Future of Economics - Reviewed.

https://www.nybooks.com/articles/2019/12/05/against-economics/

The thesis seems to be that there exists a magic wand that can create money when waved.  If you can read this meaty review and comment intelligently please do.
I will only say that I find the thesis curious, and wonder if we're already there.  But then again, with all the mentions of QE and 2008 the article doesn't mention the European crises, ie. Greece etc.

Offline MH

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Re: Economics Culture
« Reply #49 on: January 16, 2020, 02:00:48 pm »
Global debt is MASSIVE

https://www.cnn.com/2020/01/13/economy/global-debt-record/index.html

The world's already huge debt load smashed the record for the highest debt-to-GDP ratio before 2019 was even over.

In fact, it broke that record in the first nine months of last year. Global debt, which comprises borrowings from households, governments and companies, grew by $9 trillion to nearly $253 trillion during that period, according to the Institute of International Finance.


https://www.cnbc.com/2019/11/15/global-debt-surged-to-a-record-250-trillion-in-the-first-half-of-2019-led-by-the-us-and-china.html

Rising debt across the world has been a big concern for investors and has also been flagged as the next breaking point by a number of economists.


Offline wilber

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Re: Economics Culture
« Reply #50 on: January 16, 2020, 03:16:31 pm »
Scary, do I dump my corporate bonds, not that I have many. How about the shares of the companies who are issuing a lot of bonds? Hope I don't have many. When you buy a GIC, where does the money actually go? My advisor says if they start defaulting, the world will be having much bigger problems. So many questions, just hope I am getting good advice.
"Never trust a man without a single redeeming vice" WSC

Offline MH

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Re: Economics Culture
« Reply #51 on: January 16, 2020, 07:21:42 pm »
I"m talking to my guy on Saturday.  At this point I'm making more from my RRSPs than my job this year and I don't have that much invested.  I feel like with the election this year something is going to burst...
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Offline Gorgeous Graham

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Re: Economics Culture
« Reply #52 on: January 16, 2020, 08:21:22 pm »
Economic growth built on mountains of debt is phantom growth.  Sounds like a bubble has formed.  Nobody actually owns anything.  Our economies are much weaker than we think if we have to borrow money just to maintain status quo growth.  Don't be impressed or jealous by your neighbour who drives the BMW, they don't own it anyways.
"The economy has been relatively strong but Trudeau has chosen to run deficits year after year & has said will continue to do so well into the future.  This means we'll be in a worse & more vulnerable financial position when a recession hits when we HAVE to run deficits again." - Me, Oct. 3, 2019
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Offline MH

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Re: Economics Culture
« Reply #53 on: January 16, 2020, 08:46:49 pm »
Some days literally dozens of cars drive by me that I could never afford before one drives by me that I could.

Offline wilber

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Re: Economics Culture
« Reply #54 on: January 16, 2020, 08:53:12 pm »
Some days literally dozens of cars drive by me that I could never afford before one drives by me that I could.


I bought an Audi and paid cash but was 67 before I felt I could afford one.
"Never trust a man without a single redeeming vice" WSC

Offline Gorgeous Graham

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Re: Economics Culture
« Reply #55 on: January 16, 2020, 10:00:29 pm »
I keep a buffer of money in case my car goes belly up and i need a new one so i can pay cash for it.  Meanwhile that money is making me money.  I don't like financing cars and losing money.  Leasing can have its place in the right situation.
"The economy has been relatively strong but Trudeau has chosen to run deficits year after year & has said will continue to do so well into the future.  This means we'll be in a worse & more vulnerable financial position when a recession hits when we HAVE to run deficits again." - Me, Oct. 3, 2019
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Offline Omni

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Re: Economics Culture
« Reply #56 on: January 16, 2020, 10:11:15 pm »
I keep a buffer of money in case my car goes belly up and i need a new one so i can pay cash for it.  Meanwhile that money is making me money.  I don't like financing cars and losing money.  Leasing can have its place in the right situation.

Leasing only really works if the vehicle is for company use so you can write off the cost as well as depreciation. Otherwise buy it outright.
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Offline MH

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Re: Economics Culture
« Reply #57 on: January 17, 2020, 06:47:04 am »
I keep a buffer of money in case my car goes belly up and i need a new one so i can pay cash for it.  Meanwhile that money is making me money.  I don't like financing cars and losing money.  Leasing can have its place in the right situation.

Unless I had $2M in cash I wouldn't feel that I could afford a new Audi.

But you inspired a new thread idea..

Offline wilber

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Re: Economics Culture
« Reply #58 on: January 17, 2020, 11:49:45 am »
Unless I had $2M in cash I wouldn't feel that I could afford a new Audi.

But you inspired a new thread idea..

Well I donít have $2M in cash. It also depends on the Audi. They start in the thirties and go well over two hundred.
"Never trust a man without a single redeeming vice" WSC
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Offline the_squid

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Re: Economics Culture
« Reply #59 on: January 17, 2020, 10:23:26 pm »
Well I donít have $2M in cash. It also depends on the Audi. They start in the thirties and go well over two hundred.

A buddy has an A3 and his wifey has a TT.   Very cool cars.