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🇵🇦 Nuestro primer dominio localizado está en español en kiwifarms.pa. Our first localized domain is on Spanish on kiwifarms.pa.
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- Registrado
- 15 de Feb, 2015
Before I decided to major in finance, I was already reading a lot of economics blogs from varying schools of economic thought and doing reading there on my own and getting insights from certain people on YouTube admittedly also helped. Writing for a blog about the student loan debt problem in America at one point allowed me to do a lot of research there too on different solutions that have been brought up.I took a government and politics A level a few years back. That started the ball rolling in terms of interest and then It became a hobby after the course ended.
The whole subject's quite hard to penetrate. You may wanna do some reading yourself in case I fucked up and misunderstood something.
You can also ask me any questions and i'll try my best to answer them.
I think taking courses like accounting and risk management also helped to give me a different perspective about a lot of these issues. There's still plenty I need to learn myself but I consider it a hobby I'm fascinated by too.
I don't think you've misunderstood anything thus far.
J
JU 199
Guest
kiwifarms.net
That's good to know!
(lol) Unbelievably some people actually considered doing that during the U.S government shutdown. Look up the 'trillion dollar coin'
- Registrado
- 5 de Jun, 2015
The banking deregulation took its toll on the US, as well, and combined with completely lopsided free trade agreements, increased taxation, and regulations harmful to industry (the latter two of which depend on the state), the manufacturing base shrank and finance became king. The US has become a nation of middlemen and advertisers. It's gotten to the point where people are trading pieces of paper based on pieces of paper based on pieces of paper based on pieces of paper that promise payment without any actual capital.
- Registrado
- 27 de Sep, 2014
The Fed is currently more leveraged than Lehman was in 2008, is it not? I understand that the way assets are declared is a little technical and dense, so let me know if I'm wrong about that.
J
JU 199
Guest
kiwifarms.net
It's not a total analogue for a fully private institution, but yeah the Fed's balance sheet's enormous at this point.
- Registrado
- 3 de Feb, 2013
This is an obvious joke, but that's basically what we're going to be doing.
Don't expect hyperinflation, but expect either 1) still pretty bad inflation or 2) we tell our debtors to take a hike because they still need us in the end.
- Registrado
- 25 de Mayo, 2013
Someone's going to have to pay it off eventually.
The baby boomers enjoyed the highest standard of living in the history of mankind and to pay for it all their children and grandchildren and even great grandchildren will have to suffer through that debt.
TANSTAAFL!
The baby boomers enjoyed the highest standard of living in the history of mankind and to pay for it all their children and grandchildren and even great grandchildren will have to suffer through that debt.
TANSTAAFL!
- Registrado
- 23 de Jun, 2013
[Citation needed]
S
SU 390
Guest
kiwifarms.net
I've heard about that. Wasn't HSBC Bank involved as well?
And yet they call us the 'doomed generation', yeah no shit.
Doomsday-esque blogs that have a 30 minute video and a starter kit to save yourself when shit hits the fan.
- Registrado
- 25 de Mayo, 2013
I'd go further the calling you guys the "Doom Generation".
I'd rather label it the "Fucked Generation".
So many of your fellows are seriously fucked up in the head, SJWs, feminazis, furries and the Pronoun Police, not to mention the transgenderfluidgaylesbianasexualdemiromantics that seem to crop up everywhere. Mysoginists and racists lurk behind every corner (according to the media) with 1 in 4 women being a victim of rape.
Then you got crushing inherited debt, outrageous college fees paired with low income expectations if your lucky enough to land a steady job that won't be replaced by cheap over seas labor or robots in 5 years.
Next you have to negotiate a minefield when talking to the opposite sex while having to maintain proper pronouns, avoiding spontaneous rape and watching your privilege levels where one wrong word can crush your career or land you in jail if the wrong person hears it and tweets it.
On top of all that your facing a dwindling resource base with increased global competition in almost every area of life and to top off this shit sundae you have a steadily declining quality of life as inflation soars, currency value drops and what's left of the wealth is concentrated more and more into 1% of the global population as the middle class is squeezed out of existence.
I know a lot of this sounds far fetched but unless society does a drastic 180 I see another dark age coming that will take generations to break out of.
I honestly hope I'm wrong but I think ya'll are royally fucked.
Thankfully I'm an old fuck and I won't live to see the downward spiral and I had enough luck to not leave any children behind me to suffer for my excesses.
-end of line.
I'd rather label it the "Fucked Generation".
So many of your fellows are seriously fucked up in the head, SJWs, feminazis, furries and the Pronoun Police, not to mention the transgenderfluidgaylesbianasexualdemiromantics that seem to crop up everywhere. Mysoginists and racists lurk behind every corner (according to the media) with 1 in 4 women being a victim of rape.
Then you got crushing inherited debt, outrageous college fees paired with low income expectations if your lucky enough to land a steady job that won't be replaced by cheap over seas labor or robots in 5 years.
Next you have to negotiate a minefield when talking to the opposite sex while having to maintain proper pronouns, avoiding spontaneous rape and watching your privilege levels where one wrong word can crush your career or land you in jail if the wrong person hears it and tweets it.
On top of all that your facing a dwindling resource base with increased global competition in almost every area of life and to top off this shit sundae you have a steadily declining quality of life as inflation soars, currency value drops and what's left of the wealth is concentrated more and more into 1% of the global population as the middle class is squeezed out of existence.
I know a lot of this sounds far fetched but unless society does a drastic 180 I see another dark age coming that will take generations to break out of.
I honestly hope I'm wrong but I think ya'll are royally fucked.
Thankfully I'm an old fuck and I won't live to see the downward spiral and I had enough luck to not leave any children behind me to suffer for my excesses.
-end of line.
- Registrado
- 22 de Mar, 2015
I know this was likely already said somewhere, but the national debt is largely consisting of people and countries investing via government bonds.
- Registrado
- 23 de Jun, 2013
Fun fact: the last time the US economy crashed, national debt was at a relatively modest 20% of GDP. If excessive debt caused economic collapse, the US economy would have collapsed in the later years of WW2, when debt was an eye-watering 110% of GDP (it's about 70% now).
S
SU 390
Guest
kiwifarms.net
Nice copypasta there brosef.
G
GS 281
Guest
kiwifarms.net
There is so much to say here, it is difficult to be concise.
The national debt doesn't concern me. It is good to have other countries own our debt because then they have some skin in the game of our economic success. Further, we sell our debt at dirt cheap interest rates. Also, who is the largest holder of US debt? WE ARE! The "lockbox" (sorry to the kiddies who don't remember that buzzword) is stuffed with T-bills. The SS/Medicare fund gets cleaned out and replaced by US debt (something I am against, but those are the facts). The national debt has breached yearly GDP. That is typically considered a not-so-great thing, but rules of thumb tend to become obsolete. We have decades to pay these debts off, too. Sure we just refi, refi, refi, but within the confines of how the game is played today, no reason for alarm.
That's today.
We are looking at a future where our Baby Boomers are continuing to retire, get unhealthy, but still live longer. This will strain our federal welfare programs for SS and Medicare. We have not addressed adjustments to SS/Medicare and we have been okay for now, but we are about to drop off a cliff and once we star falling, there will be no basin for decades. It will be increasingly difficult to fund care for these people, and changes to the system have not been made to accommodate the stress that SS/Medicare will place on our debt. We currently spend about $1.7T on SS/Medicare, and Medicare is only about 3.5% of GDP. In a few decades it is expected to be 12-13% of GDP. If this were to happen today, that would add another $1T to SS/Medicare spending, making the amount spent on SS/Medicare almost $3T. Payroll taxes which contribute to covering this amount are only 1.02T. We are looking at potentially living in a time where our SS/Medicare expenditure amount is at least three times what our payroll inflows are.
Currently, as workers, we pay in 7.65% of our pay to SS/Medicare and our employers match that. So 15.3% of income is going to the government, but in the future, just to even it out, that amount would need to triple.That won't happen. We will need to sell debt. So as far as the national debt problem in the US goes, today it is rather tame. When that $17T makes you depressed, look at the $97-130T in unfunded liabilities we carry on our books.
The national debt doesn't concern me. It is good to have other countries own our debt because then they have some skin in the game of our economic success. Further, we sell our debt at dirt cheap interest rates. Also, who is the largest holder of US debt? WE ARE! The "lockbox" (sorry to the kiddies who don't remember that buzzword) is stuffed with T-bills. The SS/Medicare fund gets cleaned out and replaced by US debt (something I am against, but those are the facts). The national debt has breached yearly GDP. That is typically considered a not-so-great thing, but rules of thumb tend to become obsolete. We have decades to pay these debts off, too. Sure we just refi, refi, refi, but within the confines of how the game is played today, no reason for alarm.
That's today.
We are looking at a future where our Baby Boomers are continuing to retire, get unhealthy, but still live longer. This will strain our federal welfare programs for SS and Medicare. We have not addressed adjustments to SS/Medicare and we have been okay for now, but we are about to drop off a cliff and once we star falling, there will be no basin for decades. It will be increasingly difficult to fund care for these people, and changes to the system have not been made to accommodate the stress that SS/Medicare will place on our debt. We currently spend about $1.7T on SS/Medicare, and Medicare is only about 3.5% of GDP. In a few decades it is expected to be 12-13% of GDP. If this were to happen today, that would add another $1T to SS/Medicare spending, making the amount spent on SS/Medicare almost $3T. Payroll taxes which contribute to covering this amount are only 1.02T. We are looking at potentially living in a time where our SS/Medicare expenditure amount is at least three times what our payroll inflows are.
Currently, as workers, we pay in 7.65% of our pay to SS/Medicare and our employers match that. So 15.3% of income is going to the government, but in the future, just to even it out, that amount would need to triple.That won't happen. We will need to sell debt. So as far as the national debt problem in the US goes, today it is rather tame. When that $17T makes you depressed, look at the $97-130T in unfunded liabilities we carry on our books.
- Registrado
- 28 de Dic, 2014
No shit. The main other nuclear power other than Russia is China. They own a fuckton of our debt. If they nuked us, they'd be nuking themselves, even if we didn't retaliate, which we would. MAD on the economic level.
- Registrado
- 23 de Jun, 2013
Yeah, Chinese ownership of American debt actually gives China a vested interest in American economic stability.
- Registrado
- 25 de Feb, 2015
I would say that the fundamentally comes from the american (and many other western countries) education system being terrible. People cannot act rationally unless they are trained to do so and a liberal democracy is dependent on people acting rationally
ddw
kiwifarms.net
- Registrado
- 30 de Abr, 2021
this aged too well
- Registrado
- 28 de Feb, 2015
based and inflationpilled