• Krugminator2's Avatar
    Yesterday, 09:49 PM
    It is essentially a toss up. But Trump is the favorite. I know this because markets say he is the favorite. Markets are better predictor of the future than opinions and polls. https://www.electionbettingodds.com/ https://www.oddschecker.com/politics/us-politics/us-presidential-election-2020/winner
    53 replies | 656 view(s)
  • Krugminator2's Avatar
    04-07-2020, 07:51 PM
    I haven't heard him mentioned in months. But are you saying he attacks Trump and Bannon too much and is hypocritical for not attacking Candace Owens? Is he supposed to go on the offensive against conservatives at every opportunity? Trying to figure out what your complaint is. Kind of makes sense he would attack Bannon (because that was his former employer) and Trump (the president) over some random internet person.
    2 replies | 151 view(s)
  • Krugminator2's Avatar
    04-07-2020, 07:35 PM
    1245897668057919492 Michael Burry, of The Big Short fame and also medical school grad, called this stock market selloff and shorted stocks in size has been offering up takes that basically agree with what I think. He says the lockdown is insane. The cost outweighs the benefits by orders of magnitude. The people chortling that Trump is an idiot for pushing a drug that might work and has few negatives are idiots. And the relevant part of this thread is he says the Fed should stop paying interest on reserves. A big reason QE never caused inflation is because banks just hold the cash instead of lending it. The Fed likely wouldn't have needed to expand their balance sheets to this degree if they weren't paying banks to not lend money.
    3 replies | 192 view(s)
  • Krugminator2's Avatar
    04-07-2020, 03:05 PM
    Donald Trump has a 49.4% to be reelected. Biden has a 41% chance to win. https://www.electionbettingodds.com/ Markets > Pundits and pollsters.
    53 replies | 656 view(s)
  • Krugminator2's Avatar
    04-06-2020, 06:53 PM
    That is my take. I just reread my comments and I could see how they would be perceived as harsh. I think a lot of it depends on your perception of who a homeless person is. I live in the Ann Arbor area which attracts a ton of freeloaders. And even this communist city is fed up with these people. I can promise you they aren't fishing for food and they aren't just down and out people people beaten down by big government. They are loathsome people gaming the system. They give puppy dog eyes all the while making a couple hundred bucks a day and then scamming the government out of money. These articles are par for the course. http://www.annarbor.com/news/panhandlers-paradise-one-mans-story-about-begging-on-the-streets-of-ann-arbor-and-what-city-official/ http://www.annarbor.com/news/crime/handling-panhandlers/ https://www.michiganradio.org/post/new-campaign-asks-ann-arbor-visitors-stop-giving-money-panhandlers https://www.newsbreak.com/michigan/ann-arbor/news/0OIXeSsw/ann-arbors-most-prolific-and-well-known-panhandler-dies-at-66
    26 replies | 566 view(s)
  • Krugminator2's Avatar
    04-05-2020, 07:36 PM
    Didn't say it would. I think this is far more serious than 2008. The monetary intervention in 2008 worked, though it should have been faster and to a much larger extent which would have enabled interest rates to get closer to normal. I am classical liberal with conservative leanings which precludes most libertarian sites, which tend to be somewhat leftist. I like to debate. Also inertia and habit. Why are you here? Took the time to look up these posts I remembered. Still looking to kill all the gays?
    18 replies | 485 view(s)
  • Krugminator2's Avatar
    04-05-2020, 05:02 PM
    What percentage of homeless people in California are rugged individualists who would know how to survive by fishing? I am guessing .01%.
    26 replies | 566 view(s)
  • Krugminator2's Avatar
    04-05-2020, 04:38 PM
    A disaster relief check isn't going to help a homeless person. If anything, they, along with current welfare recipients, are the people least affected by this whole thing. In fact, it actually doesn't make any economic sense to cut them a $1200 check. And I highly doubt easier access to fishing will change anything. They are homeless for a reason.
    26 replies | 566 view(s)
  • Krugminator2's Avatar
    04-05-2020, 02:48 PM
    If if he didn't sign the disaster relief package we would be looking at Depression levels of unemployment for as far as the eye can see. No amount of Jesus or mystical thinking would change that. We still might see it if he keeps business closed for much longer. But I am much more confident that Trump will factor in the economy that a Democrat.
    18 replies | 485 view(s)
  • Krugminator2's Avatar
    04-05-2020, 01:20 PM
    Yeah. He's not.
    18 replies | 485 view(s)
  • Krugminator2's Avatar
    04-04-2020, 06:22 PM
    This seems kind of problematic. https://therealdeal.com/2020/04/03/nations-biggest-department-stores-could-run-out-of-funds-in-a-month-goldman-sachs/?utm_source=dlvr.it&utm_medium=twitter I feel like people saying the economy should stay shut down for a month have no idea the tidal wave that could be coming. I found this from JP Morgan study of small business in 2016 https://institute.jpmorganchase.com/institute/research/small-business/insight-cash-is-king.htm I originally thought the would be nothing. But closing the world economy for months is going to take years to recover from. Most businesses are highly levered and weren't equipped to have a total shutdown.
    3 replies | 257 view(s)
  • Krugminator2's Avatar
    04-04-2020, 05:39 PM
    Trump is a disgrace and doing an overall terrible job with the virus. But he had better win reelection. MMT and an avalanche of crazy is coming if a Democrat is the next president. It is going to be a free for all of people with their hands out trying to live off everyone else in a Democratic presidency.
    18 replies | 485 view(s)
  • Krugminator2's Avatar
    04-03-2020, 05:02 PM
    If I had to guess what you are talking about, I think FDR wanted people to snitch on people who didn't buy union made products at artificially high prices from government approved dealers. I think it was called Blue Eagle, though there doesn't seem to be a lot of info on the snitching part. "Though membership to the NRA was voluntary, businesses that did not display the eagle were very often boycotted, making it seem mandatory for survival to many." https://en.wikipedia.org/wiki/National_Recovery_Administration
    10 replies | 272 view(s)
  • Krugminator2's Avatar
    04-03-2020, 09:52 AM
    The country has over 300 million people. Every adult bought hand sanitizer and disinfecting wipes over the last few weeks. Demand has outpaced the ability to produce and distribute. This is the same for every crisis like hurricanes and the price of water.
    7 replies | 448 view(s)
  • Krugminator2's Avatar
    04-02-2020, 08:30 PM
    I was going to say something too. There are two groups of people oblivious to this. People who already have a ton of money and aren't productive any longer (if they ever were) and super broke people happy to see the world come down to their level. The look of despair on the owner of one of the businesses that I frequent and is still open is palpable. I am usually optimistic but I have a hard time believing life will be back to normal for most businesses any time soon if ever. It is very easy for me to imagine towns of boarded up commercial real estate for years. And the people who think charity is going to cover the shortfall of 30% unemployment are a special brand of stupid.
    42 replies | 723 view(s)
  • Krugminator2's Avatar
    04-02-2020, 08:01 PM
    I was just telling my parents in their 70s that the other day the same thing. They should expose themselves to something that has 10% chance of killing them and will give them permanently diminished lung function to build up their immune system. I said who cares if a million people in the US die. Got to go some way. And then I let them know that I saw a doctor/chiropractor on Youtube, who has a degree from a college in the Caribbean that isn't accredited by the brain washing US, say that the Coronavirus is no big deal. It's just the flu. Nothing to worry about. People just toughed the Spanish Flu out. Bunch of weaklings today.
    42 replies | 723 view(s)
  • Krugminator2's Avatar
    04-02-2020, 05:01 PM
    1245829622576459778
    112 replies | 9607 view(s)
  • Krugminator2's Avatar
    04-01-2020, 07:55 PM
    We had the longest economic expansion in US history and he was dooming the whole time. If you listened to him, you missed a market that went up five fold. Recessions happen. 2008 was just the start? That was 12 years ago. How the does that help anyone make money who isn't an immortal vampire who will live forever? I guess if you plan on living for 2000 years maybe he is "right".
    114 replies | 21095 view(s)
  • Krugminator2's Avatar
    04-01-2020, 06:01 PM
    Right about what? He was wrong about everything. We weren't in a depression in 2010. Gold didn't go to $5000. The stock market has still quadrupled since he was dooming in 2008 even after this sell off. If you listened to Schiff you missed the bull market of a lifetime. Couldn't have been more wrong. That is a fact.
    114 replies | 21095 view(s)
  • Krugminator2's Avatar
    04-01-2020, 05:50 PM
    Yes very prophetic in a Miss Cleo/tarot card reader sort of way. Not actually sure I have ever seen someone be more wrong, more of the time than Schiff. Was he prophetic in 2010 Peter Schiff: U.S. Is in a Depression https://www.thestreet.com/investing/stocks/peter-schiff-us-is-in-a-depression-10790377 How about 2011 "Peter Schiff: Why it’s time to dump most U.S. stocks https://www.investmentnews.com/peter-schiff-why-its-time-to-dump-most-u-s-stocks-31335 Was this prophetic in 2012 "Peter Schiff: Gold to $5,000 in Two Years" https://www.cnbc.com/video/2012/10/25/peter-schiff-gold-to-5000-in-two-years.html How about 2013 Economist Peter Schiff Forecasts Second Crisis to Hit Around 2013 https://ivn.us/2012/10/28/peter-schiff-who-predicted-the-financial-crisis-forecasts-the-worst-to-come-around-2013-2
    114 replies | 21095 view(s)
  • Krugminator2's Avatar
    04-01-2020, 09:57 AM
    Maybe. That probably is true. I don't see any need to hasten the process of going to zero though. I am in favor of delaying the adjustment of having 20%+ of population unemployed for as long as possible. Not something I am embracing with open arms.
    114 replies | 21095 view(s)
  • Krugminator2's Avatar
    04-01-2020, 09:32 AM
    The thread right below this is about bartering. You might think depressions are fun and cool. And suicides and all loss of meaning in life because job losses are great. I don't share that view. I don't want to go anywhere near a world where people are back to living like savages and bartering.
    114 replies | 21095 view(s)
  • Krugminator2's Avatar
    04-01-2020, 09:15 AM
    Nobody is saying it creates wealth. Peter Schiff again being a buffoon who continues to embarrass free market people. It does however avoid debt deflation. Governments have also destroyed economies by just letting the world go to hell. See United States 1929-1933. What you call Austrian is just Rothbardian. Hayek didn't agree at all. https://www.themoneyillusion.com/what-did-hayek-really-think-of-deflation/ https://www.coordinationproblem.org/2011/05/hayek-on-deflation.html
    114 replies | 21095 view(s)
  • Krugminator2's Avatar
    03-31-2020, 03:26 PM
    He is calling them out for not being full fledged communists like him. I agree with Ron on 99% of economic issues.
    35 replies | 866 view(s)
  • Krugminator2's Avatar
    03-31-2020, 03:13 PM
    So basically this guy had the worst of all worlds take. Doesn't want to help businesses get through a government induced liquidity crunch but does want individuals to stop paying bills and delivery people to stop working until the government gives them ten times more handouts. Not a good ally.
    35 replies | 866 view(s)
  • Krugminator2's Avatar
    03-31-2020, 10:08 AM
    The plunge protection team would have no reason to be in the market right now. The market isn't plunging. Rational would be for the markets to go up. You had historically oversold on all time frames, massive QE and a fiscal bill that is 10% of GDP. Trump is bulling up an infrastructure bill. I think/hope volatility comes back after April 1. Would be nice to see one more sell off attempt. No rational reason to be bearish now. Once in a decade bull opportunity setting up.
    129 replies | 6607 view(s)
  • Krugminator2's Avatar
    03-31-2020, 09:40 AM
    You have end of quarter rebalancing. Pensions and stock and bond funds have to rebalance to get their target weight of stocks to bonds back into balance which means buying stocks which got hammered relative to bonds. Longer term the combination of QE infinity and the big deficits are bullish for stocks. Everyone thinks is a bear market. We'll see. I will use one more selloff on negative virus news to buy with longer term money. The tables are set for a raging bull market over the next 12 months. Wouldn't be surprised if the market doesn't go up like 1999. Everyone thought the market was done in 97 and 98 then you had a blowoff run up. This sell off seems like a potential fake out. 1244942519365967872 1244923990994452480
    129 replies | 6607 view(s)
  • Krugminator2's Avatar
    03-30-2020, 06:08 PM
    "The silver lining is that this next crisis could finally demolish the Keynesian welfare-warfare state and the fiat money system." What is that going to look like Ron? Venezuela? For some reason, I highly doubt that will mean a smooth transition to anarchotopia. If the Fed loses control, we are going to be ten times less free than we are now. And a much poorer country. This whole idea of people rooting for collapse is the most bonkers thing I see in the liberty movement. There will be no liberty in a collapse.
    4 replies | 322 view(s)
  • Krugminator2's Avatar
    03-28-2020, 01:17 PM
    Here are the following books I have read by Austrians. Have the physical copies nicely dogeared, underlined and coffee stained on all but Rothbard's which I got from the library system. 1. Human Action 2. Theory of Money and Credit 3. America's Great Depression 4. Economics in One Lesson 5. Road to Serfdom 6. The Constitution of Liberty 7. The Fatal Conceit
    39 replies | 1525 view(s)
  • Krugminator2's Avatar
    03-28-2020, 10:18 AM
    Makes sense but what does that have to do with the fact that most businesses and people aren't smart about their money? 1243885552853753857
    39 replies | 1525 view(s)
More Activity
About Krugminator2

Basic Information

Statistics


Total Posts
Total Posts
3,548
Posts Per Day
1.71
General Information
Last Activity
Yesterday 10:00 PM
Join Date
08-01-2014
Referrals
0

04-01-2020


03-24-2020


03-23-2020


03-18-2020


03-04-2020


03-02-2020


01-07-2020


08-05-2018


04-06-2018


03-17-2018


06-10-2017


No results to display...
Page 1 of 112 1231151101 ... LastLast

04-08-2020


04-07-2020


04-06-2020


04-05-2020


04-04-2020


04-03-2020


04-02-2020


04-01-2020



Page 1 of 112 1231151101 ... LastLast