by Summary:
The ignorance is so deep and it never ever ends. 
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Mike Norman considers the following as important:
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The ignorance is so deep and it never ever ends. 
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
Robert Vienneau writes Recap For A Triple -Switching Example
Lars Pålsson Syll writes From one old guy to another old guy
Lars Pålsson Syll writes The pretence-of-knowledge syndrome
NewDealdemocrat writes JOLTS revisions from Yesterday’s Report
| The ignorance is so deep and it never ever ends.  |
They're printing money😅 They're printing money😅
Elon Musk vs Chris Christie
Musk drug abuse taking toll on liver most likely.
Didnt President Clinton have a balanced budget? I had money in my accounts? Dont understand about balanced budget?
If we only talk about financial instruments, then the sum of financial assets EQUALS the sum of financial liabilities. ALWAYS! That is a fact of accounting.
If the government is running a financial surplus (like the Clinton years) that means someone else has to be in financial deficit (like the housing bubble).
A government that is sovereign in its currency cannot be forced into bankruptcy. It’s the only entity that can carry negative financial equity which allows the non-government (you and me) to carry positive net financial equity.
Everything I have said is just a fact of accounting. It may sound heretical or like stupid nonsense, but it is mathematically correct for double entry book-keeping.
As long as the non-government (you and me) is a NET SAVER of financial assets, someone like the government has to be a NET SPENDER / creator of financial assets. Now look at the deficit from that vantage point.
Balance budget just means spending for the entire year has been taken back out by April 15 netting 0 spending for the year.
Treasury purchasers primary dealers are buyers of treasury last resort.
A tank top! Exercising your Right to bare arms!
thanks for that! I needed a good laugh today. 🤣🤣
😂
Well played! 😂
The biggest mistake people make on the debt level is that they look at the Federal debt, deficit, and budget like it is a household.
The constant “we’re leaving all this debt to our kids and grandchildren to pay back!” wacky claims doesn’t help either.
Something for people to think about-
You don’t see real economists…. Not economists on TV, in politics, selling precious metals, or guests on news shows….. But real economists in IVY league universities… talking about Federal debt concerns.
I can tell you've never tried that argument out on any of these people; to say they don't particularly trust academics would be putting it extremely mildly.
When the DOW was at 18,000 during COVID at the absolute BOTTOM, Ray Dalio was all over the media saying the DOW would drop to 14,000 over the next year, and the US would be in a depression.
Over the next year, we boomed, and the DOW increased probably the most in a single year ever!
Great call there Ray! Back ‘predicting’ again I see. 😂
They never mention that the nation has $206T in assets.
And yet not most prominent & important psychosis on the subject!
"Mammon" worship is, as Edison said. (Search "Edison dollar bill vs bond").
yes. Exactly. Although the account I saw of this was still a tad misleading: "can issue bonds (a form of debt) that are backed by and redeemable for dollars" — what backs the dollar (and hence also the bond) is the imposition of tax liabilties, that is, the full power and force of the State.
Or not "exactly"?… missing one thing? The worst psychosis is fear of inflation. It is far worse by orders of magnitude I dare not calculate for the risk of getting depressed at the utter public ignorance.
@ Sounds like you somehow found wrong Edison quote. Try "userers".
Here for the Elon gut report; tapeworms?
How’s the tomatoes Mike?
@@lmankj doing well. Thanks for asking.👍
Hey, no body shaming dude, not cool. @1:39 A Rocketman has to store the rocket fuel somewhere. 🤣🤣 More seriously, I think you are right about health & fitness having massive healthy-mind benefits as well, though I'd say martial arts just for the artistry is sufficient, or fighting gravity will do as well.
@3:00 there is a far worse psychosis that only the likes of Mosler seem to comprehend, not so much Kelton, Wray, Hail and the rest of the milquetoast liberals. The far worse psychosis is fear of the inflation boogeyman. It is the baser reason why they fear the deficit "blowing up like a balloon". The accounting identity here being only a number they can point at. They do not understand the source of the price level and hence inflation hysteria ensues, a number they can never point at (it is in the future).
To be blunt: fear of inflation leads to mass unemployment, and 5% unemployment is crippling enough! Even 3%. Know that! The lost real goods output and social pathologies that result exceed in societal damage in a mere decade the real costs of all wars in human history. Just pause and think about that and ask yourself why people prefer to see unemployment than a continual rise in prices?
The problem with letting inflation rip (via the needless self-imposed constraint of bond issuance to provide offset opertating factors, i.e., maintain a positive interest rate) is not economic nor financial, it is political — gets you voted out of office. But it is still false psychology and lack of awareness that the fiat currency is a gauge system. It is political in another way, the bon issuance is basic income only for people who have a lot of money, so suspending bond issuance by reforming the software layers rules between Tsy and FED is a "gutting" of the rentiers, the cry babies. They will not have a bar of it, and will demand their welfare payments. A weak government will give-in to their demands, for no good reason except Citizens United (or the equivalent in other countries, aka. donations to political parties). All political parties are anachronistic (a bygone age when voters could not easily discover policy platforms), and are a cancer.
MMT is not just a mere accurate understanding of state monetary operations, it reveals how a State monopoly on a currency can guarantee full employment and price stability. So just think about that! Just this education alone is likely worth a million "marxist" revolutionaries.
Funniest investing advice video I've ever seen bar none. Lol that gut!
Debt is an easy money, just prints some IOU and you have "free money" in your pocket to spend
You didn't mention inflation….stocks, housing, food prices, goods
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Greatest showdown ever would be a public debate between Mike Norman and Ray Dalio
lookup Merrill Jenkins, there is NO USD