dilloduck
Diamond Member
It's not just a matter of personal choice when the game being played has the stability of a roulette table.
but they don't HAVE to play on the wheel---they can stick it under their damn mattress.
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It's not just a matter of personal choice when the game being played has the stability of a roulette table.
but they don't HAVE to play on the wheel---they can stick it under their damn mattress.
It's not just a matter of personal choice when the game being played has the stability of a roulette table.
see, the thing is that "the market" has just as many losers as it does winners. Sure, for some it's a goldmine waiting to happen. But the market doesnt gain value in a vacuum and it's BECAUSE of lost value that some get to GAIN value. If you buy stock x for 20% below it's long term value then someone else is taking that loss. I just don't think it's a worthwhile option to pretend that some free market pipe dream is the cure for our collective retirement when we see how volatile it is. And, given that people tend to spend money on things they need NOW rather than save for later.. I mean, if your kid needed braces and all you had to use to buy those braces was the retirement money under the mattress are you going to tell your kid tough shit? I don't think you would, pauli. And I don't think that most people would either.
but they don't HAVE to play on the wheel---they can stick it under their damn mattress.
My mattress gives me a higher yeild than anything I've ever invested in <wink>
You're takling about someone from the Cato Institute. What position did you think they would take?
They were also for tax cuts for the wealthy and supported privatization of social security, which, if they had their way, would have screwed everyone of social security age right now.
So I figure they're wrong on pretty much every economic issue. At least they're not disgusting on social issues and privacy rights.
Thanks, though.
Cato Institute - Wikipedia, the free encyclopedia
Quote:
How is that a bad idea?To avoid such a fate, Mr. Obama needs to stop the next asset bubble from being inflated by imposing a commodity standard on the Fed. A commodity standard (such as a gold standard) imposes discipline on a central bank because it forces it to acquire commodity reserves in order to increase the money supply. Today the government can inflate asset bubbles without paying a cost for it because the currency isn't linked to the price of a commodity.
I'll ask you to do the math again.
There is a FINITE amount of gold in the universe.
if we go on the gold standard, the amount of money must equal that amount of gold,
With me so far?
Now what happens to the price of STUFF, when there is MORE STUFF made, but the amount of money (backed by gold) remains essantially the same?
Prices must DEFLATE, must they not?
Now, are you going to lend you gold backed money to anyone when you know that the value of your money is increasing in comparison to the value of the stuff it can buy tomorrow?
Are you going to buy something today when you KNOW the price will be less tomorrow?
I cannot understand why people cannot understand this basic problem with the gold standard.
DEFLATION is an even worse problem to a vibrant economy than INFLATION.
Do you not understand that?