I'm too stupid to put the picture up here, but if you go to USDebtClock.org you'll find the "Dollar to Silver" ratio now and in 1913. I'm watching that number slowly creep up. Here's to hoping you own some. Also "US Unfunded Liabilities is now at $132 TRILLION. I've watched it creep up another $4 trillion in just the past 2 weeks. We're headed directly into a disaster the likes of which this world has never seen.
It's a mass slush fund to help Trump's buddies is what it is. You can bet a million dollars that if a Dem was President, Mitchell would pass nothing and stone wall any legislation in order to drive the country into a depression and ensure a Republican would win in the fall.
Because he is a dumb mother****er who is always wrong. He predicts market crashes and hyperinflation 6 days a week and 2x on Sunday. Probability indicates he'll occasionally be right. So what? Last I checked he was an acolyte of Ron Paul - who thinks COVID19 is a hoax.
Unfunded liabilities is a terrible measure of anything. If you make $100,000 and take out a $200,000 30 yr mortgage, you also have $100,000 in unfunded liabilities. It's a meaningless number.
Probably because he's been endlessly wrong on so many more things. If you predict economic collapse always, you will be right eventually. It doesn't make you good at predicting anything.
So silver has increased in value at around 6% per year over 107 years. Your $2.63 of silver in 1913 would be worth $1379 today. If you had put the same $2.63 in the stock market, you'd have a bit over $75,000 (as of December). Obviously about 25% less today.
This is what people, including your beloved Peter Schiff, said after 2008 due to the crash and bailouts. And we had the lowest inflation in history over the last 12 years.
Seriously with Superspreader Rand Paul doing swimming lessons today and cranky retired Confederate General Ron still investigating the COVID19 hoax, you'd expect the hard money clowns to be in retreat.
Warren Buffet wrote a really good piece about this after the financial crisis was over. Basically, the US dollar is about as infallible as any currency that has ever existed. He posited that the US could print as much money as it wanted and inflation would remain reasonable. He basically said during 2008 and 2009 the US should have acted faster and bigger and could have headed off the great recession and really limited its impact. I think the Fed knows this lesson now, that's why you are seeing Trillions of dollars being tossed around like its nothing.
If there is a lesson to be learned by the trump economy debt doesn't really matter. You can print as much as you want. Really there are two super powers in the world and they can do whatever they want in terms of the debt market.
Trump Won't Rule Out Taking a Coronavirus Bailout to Save His Hotels. 'Let's Just See What Happens,' He Said. https://www.vice.com/en_us/article/...G4abfO-wY_KNRm4iRaVODjvSqoPwLBdRfbNU38WyhnA8k WASHINGTON — Will President Trump award himself a fortune in coronavirus bailout money? On Sunday he was asked that question directly, and his answer boiled down to: Maybe. “Let’s just see what happens,” Trump said. Trump refused to promise that he wouldn’t hand himself a slice of the crisis funds during a press conference while Congress was still racing to put the finishing touches on what might be the largest U.S. economic stimulus package in American history. Rocket River
Buy gold. I rather have gold than cash. I know you can’t buy **** with gold but it will at least be stable compared to cash when massive inflation hits.
Asian markets are plunging and futures are down. The failure of the Senate to pass a relief bill and Trump yet again panicking the markets is taking a toll. I'm expecting a bloodbath tomorrow morning.
Why the Senate relief bill rn is a joke to most Americans https://nymag.com/intelligencer/2020/03/senate-coronavirus-relief-bill-workers-small-business.html
I would be surprised Moscow Mitch did this on purpose to make the Democrats look bad knowing they would vote it down.
He didn't have the votes, but ran with it anyways. For a calculating guy like him, it's an opening salvo to frontload or shift blame. I can safely bet Pelosi ran through some pet Dem projects for bargaining chips. She was more forgiving "as the responsible one" in her first rodeo when Republicans ****ed it all up in 08.
