• Madison320's Avatar
    Yesterday, 02:43 PM
    Peter Schiff just wrote an article predicting big deficits under Trump. He thinks the driver of the deficits will be Trump and the republicans will go along. I think deficits will rise but not for the same reason. I think the republicans will want to boost spending but there's a chance Trump will be against them. If someone like Jeb Bush was elected I'd be 100% certain that we'd be in for massive deficits, but with Trump I'm not as confident. http://www.europac.com/commentaries/trump_deficits_will_be_huge_0 And by the way since Schiff is in the title I expect Zippy to chime in with the usual "Schiff says gold is going to $5,000!" We know Zippy, we know.
    10 replies | 252 view(s)
  • Madison320's Avatar
    Yesterday, 10:21 AM
    The media reaction to a big downturn will be epic.
    10 replies | 496 view(s)
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    01-17-2017, 02:52 PM
    I think by far the biggest factor for gold, in the long run, is government spending. That's what leads to debt, which leads to printing, which devalues the currency. If it was any other republican, I'd be 100% sure we'd get a big spending increase, since republicans hold all 3 branches. Of course the same would be true if the democrats held all 3 branches. But Trump is such a wildcard that I'm not really sure what he's going to do. On a slightly different topic when was the last time the market had any big moves either up or down? It's been amazingly steady for a long time now. I've seen some headlines recently claiming a big drop and I look and it's only .3% or so. Just wait until we get some 2 or 3% moves in one day.
    10 replies | 496 view(s)
  • Madison320's Avatar
    01-17-2017, 02:32 PM
    Or more specifically, was it thru voluntary transactions or theft? If they made their wealth thru voluntary transactions (capitalism) that's a good thing. If they made it thru legalized theft (socialism) that's a bad thing. Also wealth is dynamic not static. People that get rich in a capitalistic society grow the pie. They don't take wealth from the poor.
    54 replies | 3538 view(s)
  • Madison320's Avatar
    01-17-2017, 09:49 AM
    The problem is that they support bogus rights and violate true rights. It's not a "right" if you have steal someone's property to satisfy that "right".
    58 replies | 1248 view(s)
  • Madison320's Avatar
    01-17-2017, 09:43 AM
    He's in favor of reparations. That's all you need to know.
    58 replies | 1248 view(s)
  • Madison320's Avatar
    01-17-2017, 09:39 AM
    Black Lives Matter Economic Platform: You have to read this! https://policy.m4bl.org/economic-justice/ Here's a few of the "lowlights": Progressive taxes on income to raise revenue more equitably: ◦Raise marginal tax rates for high earners, specifically the top percentile ( the top 1% have seen their effective tax rate reduced to around 20 percent, down from 90 percent in the 1960s). Begin by raising the top marginal rate first to 50 percent and then gradually up to 80 percent. ◦Remove income caps on payroll taxes that fund social security and unemployment insurance.
    58 replies | 1248 view(s)
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    01-16-2017, 04:12 PM
    Yup, that's a pretty big one. That cuts the supply of doctors way down. Econ 101.
    30 replies | 849 view(s)
  • Madison320's Avatar
    01-16-2017, 10:39 AM
    I've become cynical about the whole civil rights movement these days. I think around 1% is about protecting true rights and the other 99% is about getting free stuff.
    58 replies | 1248 view(s)
  • Madison320's Avatar
    01-16-2017, 10:35 AM
    I totally agree that free market is the only way to go. Back in the 1950s you could get insurance for literally a few dollars a month. Then the govt fixed it. What I'm wondering is if there's a compromise position, sort of like food stamps, where you don't completely ruin the free market system, but the really poor get at least some minimal emergency care. Maybe a totally separate govt clinic. You might have to wait a day to get in, and the quality might be low, but at least you'd get taken care of without screwing up the free market system.
    30 replies | 849 view(s)
  • Madison320's Avatar
    01-15-2017, 12:03 PM
    That's true but plenty of people get in trouble for violating anti-discrimination laws. I'm pretty sure you'll get arrested for it if you don't fall in line.
    32 replies | 490 view(s)
  • Madison320's Avatar
    01-13-2017, 03:20 PM
    It's just political posturing. All they have to do is enforce the debt ceiling in March. It's the same thing as a balanced budget.
    10 replies | 270 view(s)
  • Madison320's Avatar
    01-13-2017, 11:41 AM
    I agree. I don't buy the conspiracy angle. I think the bias is more a combination of ratings and the fact that journalists, as a group, tend to be very liberal.
    105 replies | 2446 view(s)
  • Madison320's Avatar
    01-12-2017, 01:35 PM
    What bugs me is that the "unfavorable" stories are literally 10 to 1 against Trump/Republicans. They might be accurate but the bias is in what stories are presented. But what REALLY bugs me is NPR, and PBS. I'm being forced at gunpoint to support liberal government propaganda. At least CNN doesn't force me to do anything.
    105 replies | 2446 view(s)
  • Madison320's Avatar
    01-06-2017, 06:50 PM
    Good, I'm glad you admit that you're wrong. Hopefully you'll remember. They won't, until they get loaned out. You think they'll just sit on it forever? Actually the more I think about it, the more what's happened so far makes sense. They've printed about 3.5 trillion, but only about a trillion entered the economy, specifically to buy stocks and mortgages. So the base that has entered the economy has doubled. Since the crash in 2008 stocks have tripled, which make sense since the inflation created is concentrated in that area. Eventually I expect the inflation to spread to other parts of the economy and for the 2.5 trillion in reserves to get out as well. If interest rates rise it could all happen very quickly.
    88 replies | 2715 view(s)
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  • Madison320's Avatar
    01-06-2017, 05:04 PM
    And I've proven to you many, many times that the monetary base IS in fact one measure of the money supply. And it's the most important at predicting the future because an increase in the base gets multiplied and eventually leads to an increase in M1, M2, etc. That's why the monetary base is referred to as high powered money. From the Federal Reserve's website: "There are several standard measures of the money supply, including the monetary base, M1, and M2." https://www.federalreserve.gov/faqs/money_12845.htm Here's where I posted it before. But instead of learning from your mistake you just wait awhile and then regurgitate your propaganda.
    88 replies | 2715 view(s)
  • Madison320's Avatar
    01-05-2017, 05:13 PM
    It's not going to be an exact ratio but I challenge you to find anything else that has anywhere near that much correlation.
    88 replies | 2715 view(s)
  • Madison320's Avatar
    01-05-2017, 04:15 PM
    Specifically the monetary base correct?
    88 replies | 2715 view(s)
  • Madison320's Avatar
    01-05-2017, 03:12 PM
    Over the last 50 years or so, prices have gone up anywhere from 10X to 30X. What would you say accounts for this?
    88 replies | 2715 view(s)
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  • Madison320's Avatar
    01-04-2017, 01:45 PM
    Let's see what actually happens. Those debt predictions are usually way off. For one thing they never anticipate recessions. For another they assume tax rates changes are proportional to tax revenue. So if the rate doubles they assume the revenue will double. In reality revenue could fall if rates doubled, if rates were already too high. I want to see what happens with the spending side. On the one hand Trump seems to be worried about wasteful spending, on the other he seems to want to expand all the big programs like SS and Defense.
    88 replies | 2715 view(s)
  • Madison320's Avatar
    01-03-2017, 03:06 PM
    I guess it could've been worse, he could've wrote, "FOR PROFIT".
    42 replies | 1863 view(s)
  • Madison320's Avatar
    01-03-2017, 10:15 AM
    I agree although a "private" central bank with a govt granted monopoly is still "less bad" than a govt controlled money supply. At least the Fed has some incentive to protect the dollar. Without it they're out of business. If the govt was in charge of printing we would've had hyper inflation at least 50 years ago. What we really need is a competition among currencies. I think in that case gold or silver would emerge as the winner.
    51 replies | 3762 view(s)
  • Madison320's Avatar
    01-01-2017, 09:42 PM
    What's up with this "privately" owned central bank stuff. As if "privately owned" is inherently bad. I keep reading that on this website. Take that crap to democratic underground. The Fed is not remotely private in any free market sense. They act as branch of the federal govt. They have a govt granted monopoly. Private banks would be a great thing if we had them.
    42 replies | 1863 view(s)
  • Madison320's Avatar
    12-31-2016, 09:14 PM
    I disagree. I think the Fed acts as a branch of the government. They may be "private" in name but they have a govt granted monopoly on the currency. If they were really private in a free market sense that would be good thing.
    51 replies | 3762 view(s)
  • Madison320's Avatar
    12-29-2016, 09:37 PM
    Of course I was being sarcastic. Personally I don't see it. I'd rather live in today's world then back in the stone ages. I can fish for sport, not to keep from starving to death.
    62 replies | 1367 view(s)
  • Madison320's Avatar
    12-29-2016, 06:40 PM
    So what do you anti-automation guys suggest? A law that says you need to employ 100 people for every million dollars worth of goods produced? (that was sarcasm) Why are the technology gains suddenly "bad"? I don't get it.
    62 replies | 1367 view(s)
  • Madison320's Avatar
    12-29-2016, 05:51 PM
    The real test is going to be what he actually does, not what he says. Does he ramp up the keynesian stimulus when the markets start crashing? Or does he do the right thing and let the crash run its course. I'm also waiting to see what happens when the debt ceiling comes up in March. We could actually have a balanced budget if the republicans really want to. My guess is they cave and re-suspend it for another couple years.
    13 replies | 285 view(s)
  • Madison320's Avatar
    12-29-2016, 05:44 PM
    Then he should say, "I'm glad the results of the election gave the markets some psychological short term gains, but it's still a big, fat, ugly bubble and we have to fix it."
    13 replies | 285 view(s)
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