Trump has extended social distancing timeline until April 30

Discussion in 'Political Issues' started by HJB, Mar 29, 2020.

  1. EOS

    EOS National Capitalist

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    A healthy economy is not based on debt and fiat currency.......when businesses save, they don’t need a bailout, when people save they can weather an economic crisis.

    The measure of economic health is not how much you’ve charged on your credit cards but how much you have in the bank and how minimal your debt is. This goes for countries and people.
     
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  2. chickenwing

    chickenwing

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    Yep sure would be nice to have a surplus of a few measly trillion dollars for times of war, pandemics and other emergencies.

    I am not trying to make light of the situation, it sucks.

    This is what happens when monetary and fiscal policy discourages savings. No money for a rainy day.

    Hope it helps people that are not working because of the virus and some net tax payers get some money back.

    Just to bad the 6 trillion stimulus has to be created out of thin air.

    [​IMG]
     

  3. HarlDane

    HarlDane

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    Sure, everybody saves, nobody spends and we all get a depression. Debt and a fiat currency have made us the most stable, robust and prosperous economy in the history of the world. No, it's not without its faults, but it beats everything else.
     
  4. Upgrayedd

    Upgrayedd

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    An economy based on debt only works if people continue to pay their bills.
     
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  5. EOS

    EOS National Capitalist

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    We had sound currency until Nixon. This country’s most prosperous time was before we moved to fiat currency. So to say debt and fiat currency have made us the most prosperous country is simply a fallacy. You could buy a Ferrari and a mansion on a credit card, does that mean Visa has made you the most prosperous person?

    We used to be the world’s biggest creditor nation, now we’re the biggest debtor nation. It’s not hard to grasp, would you rather be indebted to someone for vast sums of money or have someone be indebted to you?

    We manufacture nothing, we depend on other nations for everything, our money is fake and our biggest creditor is a diseased, malicious, communist regime that hates us....
     
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  6. snerd

    snerd Horselover Fat

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    Sig material right there.
     
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  7. HarlDane

    HarlDane

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    I'm not sure there is a true statement in that entire post. I'm not going to waste my time, as I know it will fall on deaf ears, but for a quick example of where you are badly mistaken, I'll simply point out that we manufacture more per capita than any country in the world. And it's real, profitable manufacturing of high tech machinery and other durable goods, not throw away consumer items and cheap textiles.