The Stupidest Thing You Can Do With Your Money

A perfectly reasonable position given the uncertainties of investment and really life. I would just ask that you have the courtesy to make sure there is enough money there when you croak to make sure your funeral or whatever is taken care of so you don't YOLO yourself while sticking someone else to come up with the money for that particular inevitable outcome. It is the one thing that annoys the crap out of me the most--people living with a devil may care attitude and then shoving that funeral cost onto someone else. Beyond that, since the cash value of the average welfare beneficiary's bennies is higher than the average workers personal income, i recognize that those who don't do may be a little better off than those who do do when it comes to investments, etc. Not saying you are on welfare or anything, but extra benefits are awarded to those who act financially irresponsible instead of those who don't which is why I split from the DNC with my progressive thought--they reward and encourage deadbeats at the expense of the working class.

 

Trolling?

 

This isn't about spite, it's about control. Who said "let me control a Nation's currency, and I care not who writes its laws"?

Backing a currency with precious metals is - by definition - removing that control from individuals.

No, it's simply your lack of acceptance of an option which doesn't harm lower classes, and a binary understanding of options: you can only envision our present fiat Neo-Keynesianism, or people walking around with gold coins in their pockets, looking to cut little pieces of them off to pay for loaves of bread.

But that's not how a return to a gold standard would work.

Inflation harms lower classes, as they have a lack of investment resources to put into vehicles which can keep up with/exceed the rate of inflation. Neo-Keynesian monetarism milks society, and harms the lower classes disproportionately. The FED attempts a 4% inflation of the economy every year. That's what Neo-Keynesian monetarism is all about.

The gold standard - or any precious metals base - is certainly poisonous to the long Ponzi game of the FED. The FED earns 6% seigniorage on our economy. Did you know that? While the FED inflates the available currency - forcing investment in risk, milking away its portion of the gains, as does a leech - and places a burden on the lowest classes of forcing a rate of inflation which exceeds their rate of wage increase.

So. The FED earns 6%, and inflates it 4%. These numbers fluctuate, but these are the averages. Meanwhile, you see the middle class and lower losing buying power at a steady rate over decades. See a connection? The FED has milked that buying power away from the lower classes at rate that is half of its claimed rate of expansion of the economy. That buying power that is robbed from our people is what has made FED participants rich.

And 'rich' isn't even the correct word. What they are is incredibly far beyond rich. They are the puppet masters.

And guys like you look at the conventional "rich" and blame them and tell them they're not paying enough, when their wealth is increasingly the only private mechanism which moves the economy forward and gives these lower classes any chance of increasing their station in life. You cannot even imagine a system of monetarism - currency control - which doesn't require you to view your notions of 'deflationary control' without the pejorative prism of inflationary control.

The type of 'deflation' you claim that a precious metals standard causes is merely the absence of controlled inflation - a 'control' which has obviously not been error-free. Central planning is clumsy and doesn't credit the market itself. The market is nothing more than the collective consciousnesses of its participants. Now, though, we've injected steroids into particular components of the market via cronyism which has been enabled by coagulating power in Washington, and now this FED dynamic has compartmentalized our economy in a way that has magnified the difference between rich and poor.

You can save the counter argument (which is "OMGZORS, crashes/Great Depressions/etc: 'great crashes' and 'volatility' have been made far more severe with bank manipulation by the very same entities which now run the FED, IMO). Market manipulation is easy if you allow a FED. Without it, booms and busts still take place - moreso in adolescent/growing economies (circa US: 1780-1880) - but it is my assertion that these booms/busts modulate themselves out as the economy broaden and deepens and matures.

But you've never seen that, because the FED was allowed to be granted full control over it far before our economy proved itself fully able to self-regulate.

Back to your binary view. Right now, our currency is backed by the full faith and credit of the United States. Even a simple change to gold and silver certificates - not the FED - nets a tangible economic basis, and removes the power of a sub-contracted banking entity which has been given too much power and specifically warned against by many of our Founders.

And you cannot connect the dots and see what damage has been caused, because you support their philosophy and aren't interested in undermining Central Planning power.

 

You have an interesting view of insurance. Personally, I'd like to pay a premium - if you'd like to call my SS tax a 'premium' - that would grant me better than a sub 1% return over its life, and also risk me being unable to draw from it anywhere near what I put into it.

But that's just me.

 

Because the left supports government control over the individuals choice.

You and I both know that the government spends other people's money, on other people. Which is the sure way to get the most expensive results, along with the poorest quality.

Something that would be the complete opposite if you spent your own money on yourself. Where cost/quality would matter.

I'm paraphrasing Thomas Sowell somewhat but I'm sure you get the point.

 

Projecting again? Moving goal posts are weak side steps akin to trolling. Hard for you to keep up?

 

Oh, you don't buy healthcare INSURANCE?

SS will be funded for the next 60+ years just be removing the payroll cap!

Why does the extremist alt right always remain on the problem side of the equation and NEVER the solution?

 

Is it just possible that 'deflation' could be a very good, highly-beneficial alternative to higher inflation? Look at what house prices and car prices have done in the past ten years! Would it break your heart to see prices return to something more in line with what peoples' INCOMES actually are? How much greater is your income now than before the "Great Recession"...? How much have the prices of nearly everything YOU buy gone up since then...?

Hint: when everything becomes increasingly and prohibitively expensive relative to what YOU can afford, then you know we're well down the road into becoming a two-tier society... the very rich, and the very poor. This is an apt description of the makeup of all socialist nations! Re-read Orwell's masterpiece, "1984"... if you dare....

 

Oh, I'd BET you'd love to smash income earners with unlimited taxes to SSI. It's ALREADY insane: I keep paying for SSI into the year longer and longer because of people like you.

I provided the solution. You just didn't listen. Each taxpayer can have their own account into which their SS 'contribution' is put into AAA bonds, at which point they can withdraw when they reach the appropriate age.

As all investment/retirement portfolios offer, one could even diversify such a portfolio by allowing higher growth/risk vehicles as a percentage of one's total portfolio, and trim that percentage to zero as these investors age.

But you're not interested in solutions that remove Government control.

 

This.

This, this, this. This is what my prior post is describing.

The deflation of the variety that the neo-Keynesians squawk is not the same as the variety which would really take place in a non-IMF/FED managed economy.

 

SS is NOT an investment scam.

If you want to gamble your earnings on the Wall Street Casino that it entirely up to you but you don't get to become a burden on society in your old age just because you were a gambler.

SS ensures that you will still not be destitute and who knows, you might even have a few dollars left over to play the penny slots or buy scratch off tickets at the corner deli.

 

And we can all thank the GOP for implementing the legislation that enabled this massive wealth gap situation to come about.

 

You did NOT offer a solution!

You offered a RISKY GAMBLE where ordinary hardworking people would have their retirement stolen from them by the Wall Street Casino Bosses.

YOU can gamble with YOUR own money.

We the People want to keep our retirement insurance OUT of the greedy grasping hands of the unindicted criminals at the Wall Street Casino.

 

Of course. It's just a plain scam.

I just provided you an answer to that, and you - again - didn't hear it, or even acknowledge it

SS ensures that I am taxed in a different way, and everyone knows that the SSI 'lockbox' is regularly raided. SS needs more and more money to stay solvent, because it is and always has been a redistributionist/socialist scam.

You just admitted it by claiming that the way to keep it solvent is to massively increase taxes.

 

Uh...bullsht. I just gave you the option of bonds. You could even choose treasuries. Tell me, Derideo, what is the risk to either?

 

Get back to us when you have a solution that does NOT mean old people ending up destitute on the streets begging for scraps.

 

Plenty of blame to go around... both to "Fat Cat" Republicans AND "Limousine Liberal" Democrats. Why do I say that? Primarily and most obviously because none (NONE) of these hypocrite bastards have ever done one single thing to cleanse the U. S. Tax Code of all (ALL) the tax shelters, tax loopholes, exclusions, exemptions, etc. Arm-in-arm, both rich Republicans AND rich Democrats have laughed all the way to the bank for decades!

 

No, that is not the source of the 'wealth gap'. The source has already been named and written about.

Cronyism, massive Government growth, and neo-Keynesian currency expansion is the cause of the growth in the wealth gap. I've explained it numerous times, and you've never even chosen to respond.

 

:facepalm:

AAA bonds, Derideo. What are they again?

 

Why must anyone be FORCED to take a RISK with their RETIREMENT just to satisfy your gambling addiction?

 

One more thing:



You're not allowing me to 'gamble with my own money'. You're demanding that you TAKE my money - and I can assure you, I peg the SS cap every year, and the snow isn't even done falling when I do.

 

You should really put your glasses on. The chain of discussion never varied in the slightest. You've yet to address the thread topic, or even the issue I & Derideo were discussing ... trolling in other words.

 

Was your real estate investment a risk, Derideo? Answer my question about AAA bonds, Derideo. What are they?

 

Yet he agreed with my post. What can I tell you.......you moved the goal posts.

 

No amount of dissembling on your part will alter the FACTS that it was the avaricious Wall Street Casino Bosses conspiring with the GOP to stripmine the wealth of the middle class.

But like all the rest of the extremist alt right facing the ugly reality of greed and stupidity is never going to happen.