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patientrenter
ParticipantThe Fed prints money. What’s the point in auditing them?
“Hmmm…. we discovered there is a trillion dollars missing,” said Jim the auditor.
“Really? Well I was hoping to get an extra couple of trillion out into the economy, so that’s really good. Honestly, I was hoping we’d lose 3 trillion, but every trillion counts. Thanks, man”, replied Ben.
“But I think it’s a problem”, said Jim.
“Oh, I didn’t understand, Jim. Well, I suggest you take this to Congress. They’ll know what to do with it. Good to see you one last time, Jim”, said Ben, and shook Jim’s hand warmly, showing him out the door with a smile.
ParticipantThe Fed prints money. What’s the point in auditing them?
“Hmmm…. we discovered there is a trillion dollars missing,” said Jim the auditor.
“Really? Well I was hoping to get an extra couple of trillion out into the economy, so that’s really good. Honestly, I was hoping we’d lose 3 trillion, but every trillion counts. Thanks, man”, replied Ben.
“But I think it’s a problem”, said Jim.
“Oh, I didn’t understand, Jim. Well, I suggest you take this to Congress. They’ll know what to do with it. Good to see you one last time, Jim”, said Ben, and shook Jim’s hand warmly, showing him out the door with a smile.
ParticipantThe Fed prints money. What’s the point in auditing them?
“Hmmm…. we discovered there is a trillion dollars missing,” said Jim the auditor.
“Really? Well I was hoping to get an extra couple of trillion out into the economy, so that’s really good. Honestly, I was hoping we’d lose 3 trillion, but every trillion counts. Thanks, man”, replied Ben.
“But I think it’s a problem”, said Jim.
“Oh, I didn’t understand, Jim. Well, I suggest you take this to Congress. They’ll know what to do with it. Good to see you one last time, Jim”, said Ben, and shook Jim’s hand warmly, showing him out the door with a smile.
ParticipantWhen I was a teenager, my family income was less than the modern equivalent of $30,000 a year, and I had only one parent – my Mom (who never finished high school). I went to a school where avoiding gang fights at break was a major priority.
I now earn over $1/2 million a year, and have enough money to buy a home for cash etc.. I got there by working 100-hour weeks for many years, and pouring energy into improving my skills over decades, and applying them to the most financially rewarding jobs.
Most people complaining about how society is very unfair made far fewer tough choices. I just have no sympathy, except in a very few cases. I’ll listen more carefully to someone after they’ve spent 2 decades of 100-hour weeks working at the most financially rewarding jobs available to them.
ParticipantWhen I was a teenager, my family income was less than the modern equivalent of $30,000 a year, and I had only one parent – my Mom (who never finished high school). I went to a school where avoiding gang fights at break was a major priority.
I now earn over $1/2 million a year, and have enough money to buy a home for cash etc.. I got there by working 100-hour weeks for many years, and pouring energy into improving my skills over decades, and applying them to the most financially rewarding jobs.
Most people complaining about how society is very unfair made far fewer tough choices. I just have no sympathy, except in a very few cases. I’ll listen more carefully to someone after they’ve spent 2 decades of 100-hour weeks working at the most financially rewarding jobs available to them.
ParticipantWhen I was a teenager, my family income was less than the modern equivalent of $30,000 a year, and I had only one parent – my Mom (who never finished high school). I went to a school where avoiding gang fights at break was a major priority.
I now earn over $1/2 million a year, and have enough money to buy a home for cash etc.. I got there by working 100-hour weeks for many years, and pouring energy into improving my skills over decades, and applying them to the most financially rewarding jobs.
Most people complaining about how society is very unfair made far fewer tough choices. I just have no sympathy, except in a very few cases. I’ll listen more carefully to someone after they’ve spent 2 decades of 100-hour weeks working at the most financially rewarding jobs available to them.
ParticipantWhen I was a teenager, my family income was less than the modern equivalent of $30,000 a year, and I had only one parent – my Mom (who never finished high school). I went to a school where avoiding gang fights at break was a major priority.
I now earn over $1/2 million a year, and have enough money to buy a home for cash etc.. I got there by working 100-hour weeks for many years, and pouring energy into improving my skills over decades, and applying them to the most financially rewarding jobs.
Most people complaining about how society is very unfair made far fewer tough choices. I just have no sympathy, except in a very few cases. I’ll listen more carefully to someone after they’ve spent 2 decades of 100-hour weeks working at the most financially rewarding jobs available to them.
ParticipantWhen I was a teenager, my family income was less than the modern equivalent of $30,000 a year, and I had only one parent – my Mom (who never finished high school). I went to a school where avoiding gang fights at break was a major priority.
I now earn over $1/2 million a year, and have enough money to buy a home for cash etc.. I got there by working 100-hour weeks for many years, and pouring energy into improving my skills over decades, and applying them to the most financially rewarding jobs.
Most people complaining about how society is very unfair made far fewer tough choices. I just have no sympathy, except in a very few cases. I’ll listen more carefully to someone after they’ve spent 2 decades of 100-hour weeks working at the most financially rewarding jobs available to them.
Participant[quote=jpinpb][quote=gandalf]If the rest of the world wasn’t failing too, denominating in a foreign currency would be the straightforward answer. I don’t know, perhaps Canadian? Lots of us asking same questions.[/quote]
Canadian, huh? What if their currency becomes part of ours as the talked about Amero? Then we’d be better off buying Pesos. Even the name sounds too much like peasant.
I feel utterly helpless and frustrated. Normally being informed helps guide decision-making. But nowadays I feel more lost.[/quote]
JP, No bets are solid, so diversification is still wise. But the yen is not a bad option in a potential inflation storm. Japan suffered through 15+ years of sluggish growth and criticism from everyone. Why? Because their economists and leaders were stupid? No, as a nation of savers, they were adamantly opposed to inflation. As Rich points out in his posts, that contrasts with the US, which is a nation of borrowers. (Broad brush averages here.) If their currency holds on to its domestic purchasing power, it has a better chance of holding on to its international purchasing power over the long haul (=decades).
Participant[quote=jpinpb][quote=gandalf]If the rest of the world wasn’t failing too, denominating in a foreign currency would be the straightforward answer. I don’t know, perhaps Canadian? Lots of us asking same questions.[/quote]
Canadian, huh? What if their currency becomes part of ours as the talked about Amero? Then we’d be better off buying Pesos. Even the name sounds too much like peasant.
I feel utterly helpless and frustrated. Normally being informed helps guide decision-making. But nowadays I feel more lost.[/quote]
JP, No bets are solid, so diversification is still wise. But the yen is not a bad option in a potential inflation storm. Japan suffered through 15+ years of sluggish growth and criticism from everyone. Why? Because their economists and leaders were stupid? No, as a nation of savers, they were adamantly opposed to inflation. As Rich points out in his posts, that contrasts with the US, which is a nation of borrowers. (Broad brush averages here.) If their currency holds on to its domestic purchasing power, it has a better chance of holding on to its international purchasing power over the long haul (=decades).
Participant[quote=jpinpb][quote=gandalf]If the rest of the world wasn’t failing too, denominating in a foreign currency would be the straightforward answer. I don’t know, perhaps Canadian? Lots of us asking same questions.[/quote]
Canadian, huh? What if their currency becomes part of ours as the talked about Amero? Then we’d be better off buying Pesos. Even the name sounds too much like peasant.
I feel utterly helpless and frustrated. Normally being informed helps guide decision-making. But nowadays I feel more lost.[/quote]
JP, No bets are solid, so diversification is still wise. But the yen is not a bad option in a potential inflation storm. Japan suffered through 15+ years of sluggish growth and criticism from everyone. Why? Because their economists and leaders were stupid? No, as a nation of savers, they were adamantly opposed to inflation. As Rich points out in his posts, that contrasts with the US, which is a nation of borrowers. (Broad brush averages here.) If their currency holds on to its domestic purchasing power, it has a better chance of holding on to its international purchasing power over the long haul (=decades).
Participant[quote=jpinpb][quote=gandalf]If the rest of the world wasn’t failing too, denominating in a foreign currency would be the straightforward answer. I don’t know, perhaps Canadian? Lots of us asking same questions.[/quote]
Canadian, huh? What if their currency becomes part of ours as the talked about Amero? Then we’d be better off buying Pesos. Even the name sounds too much like peasant.
I feel utterly helpless and frustrated. Normally being informed helps guide decision-making. But nowadays I feel more lost.[/quote]
JP, No bets are solid, so diversification is still wise. But the yen is not a bad option in a potential inflation storm. Japan suffered through 15+ years of sluggish growth and criticism from everyone. Why? Because their economists and leaders were stupid? No, as a nation of savers, they were adamantly opposed to inflation. As Rich points out in his posts, that contrasts with the US, which is a nation of borrowers. (Broad brush averages here.) If their currency holds on to its domestic purchasing power, it has a better chance of holding on to its international purchasing power over the long haul (=decades).
Participant[quote=jpinpb][quote=gandalf]If the rest of the world wasn’t failing too, denominating in a foreign currency would be the straightforward answer. I don’t know, perhaps Canadian? Lots of us asking same questions.[/quote]
Canadian, huh? What if their currency becomes part of ours as the talked about Amero? Then we’d be better off buying Pesos. Even the name sounds too much like peasant.
I feel utterly helpless and frustrated. Normally being informed helps guide decision-making. But nowadays I feel more lost.[/quote]
JP, No bets are solid, so diversification is still wise. But the yen is not a bad option in a potential inflation storm. Japan suffered through 15+ years of sluggish growth and criticism from everyone. Why? Because their economists and leaders were stupid? No, as a nation of savers, they were adamantly opposed to inflation. As Rich points out in his posts, that contrasts with the US, which is a nation of borrowers. (Broad brush averages here.) If their currency holds on to its domestic purchasing power, it has a better chance of holding on to its international purchasing power over the long haul (=decades).
Participant[quote=Enorah]lying
and or in denial
which is just another form of lying
so
lying
There are those who consciously lie and those who unconsciously lie, but it is lying however you cut the mustard[/quote]
He’d never let on, even in private, but BB is not sufficiently stupid to actually believe with certainty all the twaddle he says. There’s actually a chance he’s right, but it’s not a very good chance. It’s just enough to allow his conscience not to bother him. (Of course, his threshold is low, otherwise he’d still be in Princeton.)
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