Get ready for hyperinflation

tinfoil said:
...scarcity of jobs would drive up wages,....

what? I stopped reading after you essentially said the sky was green.

ECON101:
too many people needing work means they will work for less.
Scaricty of jobs=too many people needing jobs
Click to expand...

My mistake; I was referring to low unemployment and meant to say "scarcity of workers would drive up wages".
 
Watermark said:
Keynes said the curve peaked at a very high tax rate (about 80% - 90%). Laffer said it peaked at a very low tax rate (about 25%). The concept is the same, but the end result would obviously be vastly different.
Click to expand...
And Keynes has been proven wrong, Laffer, right. *shrug*
 
Watermark said:
That's not how economics works.

To save, you have to invest. Everyone in the world wants to save right now, no one wants to invest it on anything. This makes a huge imbalance, and completely eliminates the reason behind saving. Your hero Reagan through off the balance and annihilated America's thrift through his deregulation. Spending is not "re-inflating the bubble" - we are going to restore equilibrium, and then put the proper regulations back in place to make sure it stays that way.
Click to expand...

To save you have to invest? That's just nonsense. I stopped reading there.
 
Southern Man said:
And Keynes has been proven wrong, Laffer, right. *shrug*
Click to expand...

Laffer was wrong. Putting the rate at 25% has proven to not increase income. To cut taxes beyond a rate of about 70%, you have to do it the old fashioned way. By losing revenue. There is no economist of this century who has been proven more right than Keynes, and none who has been proven more wrong than Laffer. *shrug*
 
Watermark said:
Laffer was wrong. Putting the rate at 25% has proven to not increase income. To cut taxes beyond a rate of about 70%, you have to do it the old fashioned way. By losing revenue. There is no economist of this century who has been proven more right than Keynes, and none who has been proven more wrong than Laffer. *shrug*
Click to expand...
Bullshit.
 
Watermark said:
There is no such thing as a secure saving. Investment is not gambling because investment does not generally produce a loss.
Click to expand...

sure there is I have 200k in savings accounts in a few banks. FDIC guaranteed.

There are also other places to put money that are federally guaranteed.

If the fed failz then the money is no good anyway.
 
uscitizen said:
sure there is I have 200k in savings accounts in a few banks. FDIC guaranteed.

There are also other places to put money that are federally guaranteed.

If the fed failz then the money is no good anyway.
Click to expand...

Exactly. There is no 100% safe savings. If you put the money in the bank, the bank will "invest" it through loans. If you keep it under your pillow, you will certainly lose value, it will be vulnerable to theft, and the feds might go under.
 
Watermark said:
Exactly. There is no 100% safe savings. If you put the money in the bank, the bank will "invest" it through loans. If you keep it under your pillow, you will certainly lose value, it will be vulnerable to theft, and the feds might go under.
Click to expand...

Yeah and a comet might land on your pimply ass tonight too.
 
You must log in or register to reply here.
Back
Top