Comments by "Grim Affiliations" (@grimaffiliations3671) on "Reverse Market Crash: The Worst Possible Economic Outcome" video.

  1. Clearly not since every country on the planet uses fiat. Besides, all gold backed currencies have gone to zero too. That's why there are many fiat currencies today but no gold/silver backed ones. A fiat currency only goes to 0 if your country is not self sufficient or if you borrow in forign currencies. Countries that are self sufficient and borrow only in their own currency will never go to 0, nor will they collapse every few years like gold backed currencies used to do
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  2. inflation sin't going up nearly that fast
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  3. he's twisting himself into pretzels to make his crash predicitons a reality
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  4. learn mmt if you wanna know whats really going on, start with the book The Deficit Myth
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  5. Demand for the dollar would be near limitless even without it's status as a reserve currency, because taxes mean we always need the dollar. That's why the federal government makes us pay taxes, not because they need our money (they have an infinite money printer) but because they need to create demand for the dollar. In fact, if you ever pay taxes with cash, they will literally throw it in a shredder. You can even buy shredded tax money in DC
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  6. dooms sells, and people don't usually care how often youre wrong
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  7. easy fix, relax zoning laws so more housing can be built and introfuce a land value tax
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  8.  @treelineresearch3387  Using actual gold as currency is even dumber than a gold backed system. It was only ever a thing because paper hadn't been invented yet. Money isn't supposed to retain it's buying power, it's supposed to allow the government to provision itself with resources. If you want to value retention, you invest your money, but in order for the economy to survive and for the governemnt to provsion itself, money needs to be avaiable to meet the demand for it, that only happens with fiat
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  9. I don't understand either. But Given the current economic difficulties that the country is experiencing in 2023, how can we enhance our earnings during this period of adjustment? I cannot let my $680k savings vanish after putting in so much effort to accumulate them
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  10. money needs to eb and flow depending on the demand for it. Bitcoin has fixed supply, so running an economy on it is a terrible idea. A recipe for depression
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  11. that's why calitalism needs to be paired with a strong welfare state, like the nordic model
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  12. neoliberalism
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  13. nothing burger
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  14. a record 1 in 7 families now have a small bussiness
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  15.  @Commievn  at what point does a country become socialist? What percentage of the means of production would need to be publicly owned?
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  16.  @aaronvt9980  you gotta make profit to stay afloat so clearly they;re in the green
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  17. markets can exist under socialism
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  18.  @Evangelionism  a good example is norway
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  19. gold is a good asset but a terrible currency, Currencies need to eb and flow depending on the demand for money, gold cant do that.
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  20.  @runswithraptors  That has the sam effect. The economy won't be able to surive any time theres a recession or war, because the demand for money explodes during those periods and the government will be unable to supply any of it since gold supply is pretty fixed. That's why every recession turned into a depression during the gold standard and the US had to get off it anytime there was a war
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  21. it's backed by taxes. The govenrment doesn't collect them because it needs money (they can just create it), it collects them because they need us to need the dollar.
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  22. us is doing great
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  23. we're no longer on gold so there wont be a depression
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  24. inequality has shrunk under biden
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  25.  @funkthat  land value tax would keep profits low on rent
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  26. conservatives on the supreme court decided bribery should be legal because bribing is a corporations version of speech
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  27.  @jonrussell739  kind of crazy that these guys haven't read The Deficit Myth in the year 2023
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  28. and gold as moeny eventually returns to it's intrinsic state, depression
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  29.  @bencarignan2711  terrible idea
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  30. zimbabwe, argentina and others borrowed in a currency they didnt contrl. The US only borrows in dolrs
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  31. the fall of the middle class started with reagen and his neoliberalism
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  32.  @davidparks395  The welfare state isn't what hurt the middle class, it;s the privatization, consolidation and finanzialization of our eocnomy brought about by our failed neoliberal experiment. Not to mention the declaine in unions that started around reagen's election
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  33.  @Patriot-od6xk  Only way elites will rule us is if we elect republicans. They exist to do the elites bidding
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  34. of course you can print money. Money is the dollar now. Gold is no longer used as money, it's just an asset, like any other.
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  35. a recession won't necessarily deflate housing. It'll just disincentivize building. And what do you mean free money?
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  36. us ins nothing like argentina. We aren't dependent on a forign currency
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  37. his info is also a scam
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  38. 😅
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  39. they;ll lower rates by april. Conditions have tighntened even without a further hike
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  40. the federal reserve is indeed federeal, and their collateral is an infinite supply of dollars
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  41. a dollar is what plops out of the computers at the fed
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  42. lowering rates is good for reducing inflation. Interest rates determine the price of credit, which determines the price of everything. Not to mention raising interest rates is just giving a stimulus to people with money from the extra payments
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  43. Easy, we need universal healthcare, stronger unions and a strong welfare state.
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  44. government needs to run a deficit or the economy crashes. Bill Clinton found that out the hard way
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  45. nonsense. We spent 5 trillion dolalrs into an eocnomy with a collapsed supply chain and inflation didn't even hit double digits
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  46. our current monetary system is fine. Gold bakced currenies are a pipe dream, and i quite enjoy not enterring a depression every few years
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  47.  @jameskeefe1761  of course fiat currencies can work, the richest countries in the world are fiat, in fact all countries are fiat. And the US government has been disciplined, too disciplined. We aren't getting full employment because the government spends too little
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  48.  @LeagueofWut  that's why we need to be socialist like Norway
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  49. the dollar isn't even close to hyperinflating. Yall should learn what that word means
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  50.  @AChillin01R  printing isn't inherently infationary. You can spend a lot without causing inflation, as we saw throughout the 2010's. Inflation is a global problem, but one where the US did far better than countries that spent way less money. Inflation has plummetted since last year despite interest rates shooting up and unemployment remaining near all time lows. That tells you the inflation was due to supply chain issues from covid, not printing money or high demand
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