Wrestleknownothing Posted February 24 Share Posted February 24 3 minutes ago, JimmyBT said: You think inflation was bad last year. Wait until we can’t fix it because there’s less value to the dollar. You sure sound smart though. You mean like in Russia where they have dedollarized their way to double digit inflation and 16% base interest rates and a stock market at half its Oct 2021 value while in the US inflation and interest rates are one third that value and the stock market appreciated 20% in the same time? Yeah, sounds awful to hold dollars. 1 Drowning in data, but thirsting for knowledge Link to comment Share on other sites More sharing options...
Wrestleknownothing Posted February 24 Share Posted February 24 7 minutes ago, JimmyBT said: https://money.usnews.com/investing/articles/de-dollarization-what-happens-if-the-dollar-loses-reserve-status Now attach a probability to that. Drowning in data, but thirsting for knowledge Link to comment Share on other sites More sharing options...
JimmyBT Posted February 24 Share Posted February 24 Just now, Wrestleknownothing said: You mean like in Russia where they have dedollarized their way to double digit inflation and 16% base interest rates and a stock market at half its Oct 2021 value while in the US inflation and interest rates are one third that value and the stock market appreciated 20% in the same time? Yeah, sounds awful to hold dollars. That’s the entire point. we have credit now to fix ours because of the dollar being the universal currency. That goes away. Good grief. Link to comment Share on other sites More sharing options...
JimmyBT Posted February 24 Share Posted February 24 1 minute ago, Wrestleknownothing said: Now attach a probability to that. Read the current trade figures that are in US dollars. As that goes down…….. Link to comment Share on other sites More sharing options...
JimmyBT Posted February 24 Share Posted February 24 https://www.investopedia.com/terms/f/fiatmoney.asp Link to comment Share on other sites More sharing options...
Offthemat Posted February 24 Share Posted February 24 19 minutes ago, Wrestleknownothing said: Ah, the BRICS currency. You should check in with its champion, @Offthemat, to see how that is going. At their summit in South Africa, Putin could not attend because he was afraid he would be arrested. Champion? Hardly. But I do prefer a Churchillian approach to your Chamberlain. Link to comment Share on other sites More sharing options...
JimmyBT Posted February 24 Share Posted February 24 Thank God for Fort Knoxxxxxxx Link to comment Share on other sites More sharing options...
Wrestleknownothing Posted February 24 Share Posted February 24 7 minutes ago, JimmyBT said: That’s the entire point. we have credit now to fix ours because of the dollar being the universal currency. That goes away. Good grief. Again, attach a probability to that scenario. If Hollywood has taught us anything it is that if aliens invade it will go very poorly for us. But again, I urge you to attach a probability to that scenario before making any big decisions. Drowning in data, but thirsting for knowledge Link to comment Share on other sites More sharing options...
JimmyBT Posted February 24 Share Posted February 24 1 minute ago, Wrestleknownothing said: Again, attach a probability to that scenario. If Hollywood has taught us anything it is that if aliens invade it will go very poorly for us. But again, I urge you to attach a probability to that scenario before making any big decisions. A high enough probability for me to invest more in gold than I do now. Link to comment Share on other sites More sharing options...
Wrestleknownothing Posted February 24 Share Posted February 24 6 minutes ago, JimmyBT said: A high enough probability for me to invest more in gold than I do now. https://portfolioslab.com/tools/stock-comparison/GLD/SPY Have at it. Diversify. Drowning in data, but thirsting for knowledge Link to comment Share on other sites More sharing options...
JimmyBT Posted February 24 Share Posted February 24 Just now, Wrestleknownothing said: https://portfolioslab.com/tools/stock-comparison/GLD/SPY Have at it. Diversify. I’m very diversified already. This will fall under long term investments for me. Gotta take care of the grand kids. 1 Link to comment Share on other sites More sharing options...
Wrestleknownothing Posted February 24 Share Posted February 24 12 minutes ago, JimmyBT said: I’m very diversified already. This will fall under long term investments for me. Gotta take care of the grand kids. And good for you for doing that. I worry that too many fall for the MAGA narrative that The Economy is awful (but never define The Economy), while all the numbers that describe the economy are fantastic. 2 Drowning in data, but thirsting for knowledge Link to comment Share on other sites More sharing options...
ionel Posted February 24 Author Share Posted February 24 https://finance.yahoo.com/news/russias-economy-driven-war-ukraine-012303820.html 1 Link to comment Share on other sites More sharing options...
JimmyBT Posted February 24 Share Posted February 24 2 hours ago, Wrestleknownothing said: And good for you for doing that. I worry that too many fall for the MAGA narrative that The Economy is awful (but never define The Economy), while all the numbers that describe the economy are fantastic. All???? The national debt is now at $34 Trillion and closer to home Consumer credit card debt is now over $1 Trillion. People are in debt up to their eyeballs and a lot of it was to pay for necessities due to the highest inflation in 40+ years. That’s not a narrative it’s just a fact as to why people in general don’t feel good about the economy. 1 Link to comment Share on other sites More sharing options...
Offthemat Posted February 24 Share Posted February 24 1 minute ago, JimmyBT said: All???? The national debt is now at $34 Trillion and closer to home Consumer credit card debt is now over $1 Trillion. People are in debt up to their eyeballs and a lot of it was to pay for necessities due to the highest inflation in 40+ years. That’s not a narrative it’s just a fact as to why people in general don’t feel good about the economy. Stupid people! They’re doing great! They just don’t realize it. 1 Link to comment Share on other sites More sharing options...
Offthemat Posted February 24 Share Posted February 24 2 hours ago, Wrestleknownothing said: And good for you for doing that. I worry that too many fall for the MAGA narrative that The Economy is awful (but never define The Economy), while all the numbers that describe the economy are fantastic. There are warning signals everywhere. But you go ahead and play 1928 if you want to. 1 Link to comment Share on other sites More sharing options...
JimmyBT Posted February 24 Share Posted February 24 (edited) 10 minutes ago, Offthemat said: Stupid people! They’re doing great! They just don’t realize it. Biden can’t figure out why Americans don’t think they’re doing well. It’s pretty simple. Many can’t/won’t get out from under their debt. The socialist narrative is that life is all duckies and bunnies because Biden says it’s good. Edited February 24 by JimmyBT 1 Link to comment Share on other sites More sharing options...
Wrestleknownothing Posted February 24 Share Posted February 24 3 hours ago, Offthemat said: There are warning signals everywhere. But you go ahead and play 1928 if you want to. You should just sit this one out. Drowning in data, but thirsting for knowledge Link to comment Share on other sites More sharing options...
Wrestleknownothing Posted February 24 Share Posted February 24 3 hours ago, JimmyBT said: All???? The national debt is now at $34 Trillion and closer to home Consumer credit card debt is now over $1 Trillion. People are in debt up to their eyeballs and a lot of it was to pay for necessities due to the highest inflation in 40+ years. That’s not a narrative it’s just a fact as to why people in general don’t feel good about the economy. And what has happened to CPI and income? Context matters. Drowning in data, but thirsting for knowledge Link to comment Share on other sites More sharing options...
Offthemat Posted February 24 Share Posted February 24 1 hour ago, Wrestleknownothing said: You should just sit this one out. Denial is not a river in Mexico. 1 Link to comment Share on other sites More sharing options...
JimmyBT Posted February 24 Share Posted February 24 (edited) 3 minutes ago, Offthemat said: Denial is not a river in Mexico. https://www.bankrate.com/finance/credit-cards/states-with-most-credit-card-debt/#state Yep context does matter. It’s a shit show no matter how you look at it. Edited February 24 by JimmyBT Link to comment Share on other sites More sharing options...
WrestlingRasta Posted March 4 Share Posted March 4 Serious question: is there anyone here on this board that is in a worse financial situation than they were 15 years ago? 10 years ago? 5 years ago? 1 Link to comment Share on other sites More sharing options...
Paul158 Posted March 4 Share Posted March 4 On 2/24/2024 at 6:50 PM, JimmyBT said: https://www.bankrate.com/finance/credit-cards/states-with-most-credit-card-debt/#state Yep context does matter. It’s a shit show no matter how you look at it. We are paying roughly 80 million dollars an hour in interest on our National debt. That comes out to 2 billion dollars a day. That is a lot of money. I feel the government is falsely propping up our economy in a lot of the policies in the last 3 years. Take the halt on student loan payments the last 4 years. That is 500 billion dollars that was not paid at all. Then you have the loan forgiveness, that is another 150 billion dollars that will never be paid back. There are many other examples. People have been pulling money out of their savings and 401K's in order to get by. People have been putting an enormous amount of debt on credit cards in order to get by. I'm not sure how many red flags the American people need to see to realize "Houston we got a problem". 1 Link to comment Share on other sites More sharing options...
Paul158 Posted March 4 Share Posted March 4 On 2/24/2024 at 6:50 PM, JimmyBT said: https://www.bankrate.com/finance/credit-cards/states-with-most-credit-card-debt/#state Yep context does matter. It’s a shit show no matter how you look at it. That is some excellent information. Thanks. Link to comment Share on other sites More sharing options...
ThreePointTakedown Posted March 4 Share Posted March 4 On 2/23/2024 at 11:01 PM, JimmyBT said: Are you kidding????? We can’t take care of the people already here that are actual citizens. 7.3 million unlawful immigrants have entered the country under Biden. That’s more than the population of 36 states. He’s paying them money we don’t have to keep the economy “looking” better. He’s absolutely destroying this country Where are you getting your numbers? Link to comment Share on other sites More sharing options...
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