RE:RE:RE:Alice in Wonderlandhey red, if blm can burn down police stations and destroy public property with impunity, surely i can refuse to fill out justin's census form that culturaly offends me?
Red_Deer wrote:
Marner16 wrote: Happy Sunday Fantome.
You and I have been down this "inevitable correction" road before. We have never been able to come to a meeting of the minds on debt and is unlikely that we ever will. We both come from the same "old school" view of economics and the role that debt plays. While you worry about an inevitable correction based upon a capitalistic system that will self correct, I see the rules as being forever broken.
IMO, debt as we know it became meaningless a long time ago. The moment that any pretense of the debt ever being repaid is shattered, debt becomes irrelevent. The pandemic has simply exacerbated the situation. Governments worldwide have thrown any semblance of caution in regards to debt to the wind.
Examples of a complete breakdown in the "system" are everywhere. My favourite example is Dogecoin, which was created in 2013 as a joke and now has a market value of $50 billion.
It shouldn't surprise anyone that cryptocurrency has supplanted gold as the hedge against inflation. The price of gold should be going through the proverbial roof based upon what is happening in the world, but the price of gold is range bound. Gold only has value because people arbitrarily give it value. Gold backed currencies and securities are a fantasy, so why not create your own pseudo currency. Whatever new crypto that gets created can't be any more worthless than a Canadian dollar or any other currency
Capitalism is broken. It worked for awhile, but it is clearly not working now. Capitalism is based upon perceived fair exchange where the winners take on the risk of debt which they leverage to enormous advantage. Debt provides the liquidity in capitalism and when debt loses its value, then capitalism either has to collapse, or a new benchmark of measure has to be created.
I don't have the answer. What I observe is that China is kicking the cr*p out of capitalism. I keep reading about how China treats its citizens so badly. And yet, the standard of living in China is rocketing upwards while the standard of living in American is plummeting. Perhaps the general public are incapable of making intelligent, well thought out, long term decisions due to a lack of foresight. Maybe a "Central Committee" is the answer.
I find it ironic that in the real world, the things that have real value, like the look of love in a child's eyes can't be measured. Integrity can't be measured. The gift of giving can't be measured. The joy of sharing can't be measured. Health can't be measured. Happiness can't be measured.
The world doesn't make sense to me anymore. So what do you do when you don't know what to do? For me, it about going back to the basics of focusing on the things that money can't measure.
I Too AM Truly OLDE SCHOOL__and What FREAKS Me Out a LOT are the DISTINCT Realities of a CASH LESS Banking System__NO MORE CASH to Pay For Things__and being FORCED to GET a Cell Phone__as the Land Line Infrastructure becomes Viewed as an Expensive Liability.
Throw in the DISTINCT Possibily of NO MORE MAILED OAS Pension Cheques__Forcing EVERYONE No Matter HOW HANDICAPPED they may be with AGEING/Memory
Issues__ONTO EFT/Computers/Smart Phones which Many of THEM Will NOT Be Able
to Manage__recall that Harper threw out a Trial Balloon along these lines !!!!