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|02-15-2013 05:49 AM|
|Slick_Traveller||As the Obama administration and Congress continue to rack up trillions of dollars in debt while the Federal Reserve conjures ever-greater sums of fiat currency into existence out of thin air, lawmakers in Texas have officially become the latest policymakers to openly explore the potential consequences. Legislation filed recently in the Lone Star State would, among other points, require a study on the effects of having to become partially or completely independent of the federal government in case Washington is unable to function due to financial chaos.|
|02-12-2013 12:10 PM|
So we print some money.. and what? make some jobs. But nobody needs really any more products exported from Greece. The exportation area is already taken care of.. So we make these jobs to do what??? What Greece doesn't have they import from other countries. Something they've done for a long time.. except they paid with IOU's (absolutely tons of them to other UK countries). So what will they do with new found money.. import more products (um.. that decreases GDP). Greece has virtually forever been at the bottom end of the UK per GDP. They propped themselves up by throwing out money and filling their country w/ government jobs. They essentially bankrupted themselves.. So your fix is to .. print more money and do exact same thing?????
Now if they can find some new commodity they can export talk to me. Or they could work for subhuman standard wages and compete with Chinese exportation. Other than that.. um.. yeah. Printing money is about the most backward idea I've heard. Should they pay off their debts to every other country w/ printed money also?
|02-12-2013 11:41 AM|
|02-12-2013 11:28 AM|
You don't believe a federal government meltdown is at all possible?
If history serves as an indicator, it would seem we are due for one.
|02-12-2013 11:26 AM|
"Hyperinflation occurs when there is a continuing (and often accelerating) rapid increase in the amount of money that is not supported by a corresponding growth in the output of goods and services."
printing money creates jobs. jobs create growth in the output of goods and services. right now there is a dearth of jobs, while meaningful labor can be done and able bodied citizens are available to do it. therefore, we will not experience hyperinflation in the us if we print money.
you don't get to the point where a loaf of bread costs a wheelbarrow full of money unless loaves of bread are pretty scarce.
|02-12-2013 11:21 AM|
|Xygonn||The money supply moves have been HORIZONTAL. They are printing bonds and dollars. Start worrying when they mint a high value coin to put on the balance sheet without a bond liability or otherwise repudiate debt.|
|02-12-2013 04:54 AM|
|JackHandey||I find it fascinating that the left likes to paint the right as being crazy for realizing that leftist spending is unsustainable indefinitely. Considering that right wing states comprise over 75% of the nation geographically, it would make sense for them to secede simply on the basis of not desiring to subsidize programs that do not reflect their sensibilities and lack of adequate representation in an overbearing federal government.|
|02-12-2013 04:18 AM|
Fine, the 001010 on the bank's balance sheets are hyper-inflated. We all know that. So what? There's no lending! Do you even understand what money velocity is?
Your assertion is that such phenomena creates asset price hyperinflation as a causal factor, correct? I mean, the Fed could hyper hyper hyperinflate it's BS right now and it wouldn't do a damn thing to the price of my morning coffee, gas or a plane ticket. Get over it!
The gvmnt will melt down because they will not pay in the end, just like every other soverign. There's never been a hyperinflationary event in any core economy with the reserve currency. The $US will not implode until capital has sufficiently shifted away causing a run on the *rest* of what's left of it. History shows when that happens, it happens fast...and no....you will not be able to predict when.
|02-11-2013 08:48 PM|
|02-11-2013 08:43 PM|
At least thikthird is right about something; hyperinflation is nonsense. Why he bows at the MMT and Krugmanite altar when they just keep pissing up a rope, though is beyond me.
|02-11-2013 08:39 PM|
The gvment doesn't have a spending problem, it has a banker problem. News flash: bankers are suicidal sociopaths.
|02-08-2013 11:27 AM|
Saw this the other day:
Virginia to mint coins in case dollar collapses?
"We can't mint money, but we can mint gold and silver coins," he explained previously, according to an NBC network news report. "It sounds like a small difference, but it is a difference legally."
Per the U.S. Constitution, states can't actually "coin money." But but they are permitted to make "gold and silver Coin a Tender in Payment of Debts," according to a story on Newser.com.
|02-08-2013 10:49 AM|
|Elmer||lol@"Modern Money Theory".....|
|02-08-2013 10:47 AM|
|02-08-2013 10:36 AM|
The turn of the century eh.. or maybe Greece learned from the mistakes they comitted around 75 years ago..
in 1944 Greece Inflation hit 13,800% with a daily rate of 20.9 because war left them in debt.. so they PRINTED MONEY!! There economy was basically destroyed the Central Banks started issuing Gold Franc coins.
Or how about something more recent..
and what is the solution to these problems? Typically to abandon their currency and go with another county's.
or maybe you'd like some more examples..
or maybe you'd like a list of all of them in pdf format..
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