by Summary:
There is no better way to accumulate wealth than the stock market. It is a miracle wealth, creating machine, but you have to know how to be involved.
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Mike Norman considers the following as important:
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There is no better way to accumulate wealth than the stock market. It is a miracle wealth, creating machine, but you have to know how to be involved.
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
Stavros Mavroudeas writes Το ψηφοδέλτιο της ΑΝΤΑΡΣΥΑ-Ανατρεπτική Συνεργασία στις ευρωεκλογές
Editor writes Real-world economists take note!
Angry Bear writes Inflation Is Hurting the Fast Food Giants
Mike Norman writes Cleveland Fed for May
| There is no better way to accumulate wealth than the stock market. It is a miracle wealth, creating machine, but you have to know how to be involved. |
Looking rough there Mike! Good Times 🙂
Good to see ya back. Hard to explain this to people, I have tried, it is frustrating.
To be fair Mike, The educational system in the US is Eurocentric, so it lies about money and markets to us. Because of that larger lie hiding the money form & markets we use now was inherited by Europeans from the middle east.
Also, education should NOT be limited to math & literature, that's just the State mandated language forms. It must include culture, arts & other things humans need to know to care for each other. Just "STEM" creates serial killers & sociopaths.
The stock market doesn't create any wealth; the only thing that creates wealth is the melding of resources with labor. Companies are a legal FICTION, resources and labor are real/tangible. You couldn't even register a company in the UK prior to 1844. Who's gonna tell me there was no wealth before 1844?
not letting currency flow in proportion to the population's needs is criminal! it's literally suffocation. this video is chocked full of truth.
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So glad to hear real truth from you pal
good to see you back mike!! since you mentioned gold standard, it's just so laughable how they operated gold standards in the past. fixed dollar denominations on gold coins and gold backing currency tells how stupid these people ran their monetary and fiscal policy using gold. you can never back your currency and also have fixed price on an materialized physical currency. and most people still don't understand why they screwed up gold standard. just imagine how some modern day moon dorks think bitcoin standards can save the world lol. seriously it won't even last a year if they actually excute it nor new Gen gold standards won't work either if they use the same failed methods operating it. by the way, my absolute #1 asset is gold and crypto assets are what I trade the most, and I'm speaking the logics.
Welcome home. Aloe vera for that burn.
Buying and selling stocks is not wealth creation. Labour is the source of all wealth.
hey sounds like Lenin would agree.
@Ron Pd No. Lenin was a paid agent of the German government. He wasn't a socialist.
@Ron Pd all commodities can be reduced to a labour, materials and profit share component. Materials all also have a labour, material and profit component. If you regress this back, the value of a commodity is determined by the vertically integrated labour cost multiplied by the hours required to produce it and vertically integrated profits. Assuming capitalism is competitive profit rates and wages will tend to equalise (ordinary profit level and subsistence wage). Based on this understanding of the price of a commodity, which is found not only in Marx, but was first formulated by Ricardo and in Smiths “rude and early” state of capitalism, the relative value, which is what Value is, of a commodity is determined by the number of labour hours required to produce a commodity.
People say that labour is the source of all value and conflate it with material wealth. Machines create physical commodities, they create material wealth, but they do not create value in terms of the aggregate of society, which is a different social category, found in $ and exchange.
@Damn that is so misleading. Marx and gangs had it so wrong and the result is evil. The greatest portion of commodity price, at times, is simply due to a combination of demand, functionality, etc. You cannot reduce a commodity value to a simple labour cost etc.
Careful with that axe Eugene ..
I wish your were President too!
Mike at your age your life is mostly over so if they kill you it's no big deal. Mike go for president. What else are you going to do.
Good point on gold and crypto. The gold bugs don't understand that gold is just a commodity – real money reflects the efficient productive capacity etc. The central banks will NEVER let crypto compete with their digital chit I think. Great video as usual.
PS I think as you indicated the stock market will act as a hedge against Joe's soon to come unlimited money printing.
Krugman ?? You gotta be kidding me ??
Nice Ramble. Hope you don't get skin cancer.
There's no reason why they can't mint the coin. If they don't raise the debt ceiling not minting the coin is the height of economic iresponsibiliy.
Getting married is the best way to lose half your access.
Mike what should be the interest rate ?
Welcome back, missed ya. Always love your direct style, agree on schools, such a shame kids don’t get the real value learning. Cheers Mikey! Maybe start brewing your own tea?
If you are badly burnt it’s a good idea to get some late afternoon sun – red light and low UV, increases melatonin production and helps reduce UV damage! Hope you recover Mike!