Comments by "TheGreatIndoors1979" (@TheGreatIndoors1979) on "Uneducated Economist" channel.

  1. Why would paying off your debt to a creditor create zero velocity? Doesn't a creditor have to buy gas? And to think that Americans spending their money to pay off their personal debt would somehow be damaging to the economy is laughable. The government should follow their example.
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  2. Yeah, continue with the stimulus checks while promising to cut taxes. Looks like Trump has gone full MMT. Never go full MMT.
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  3.  @EmilyAllan  Remember that money is not equal to wealth. Wealth is created when people are providing products and services. A decentralized fractional reserve system where commercial banks are personally responsible for the money supply, at the risk of bankruptcy when they get it wrong, would be sufficient in my eyes. Also, if people REALLY think that there'll be massive inflation, they would be better off trying to look for ways to retain their purchasing power and refrain from paying off their debt if they can.
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  4. "We teach them JUST ENOUGH to be useful to industry." I wish that was true, because that would mean neglible student debt, shorter studies, and almost no studies in fields industry isn't interested in and wouldn't land you a job.
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  5.  @warriormanmaxx8991  This ain't twitter. Also, I thought that on a channel like this, most would know what is meant by MMT and thus, it didn't need further explanation. But thank you for your contribution in this regard.
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  6. Of course, the Trump supporters here in this thread are treatening it like it's another another 5D-chess game. Pathetic.
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  7. 8:32 Raising the ceiling for 2021.
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  8. The Fed is making sure every current US citizen is already losing the purchasing power of all of their savings, let alone the generations after.
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  9. Don't forget to buy and stock up on commodities like canned food as well.
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  10. "The debt structure has obtained its present astronomical proportions due to an unbalanced distribution of wealth production as measured in buying power during our years of prosperity. Too much of the product of labor was diverted into capital goods, and as a result what seemed to be our prosperity was maintained on a basis of abnormal credit both at home and abroad." Seems to me that Marriner Eccles is reversing cause and effect here: unbalanced distribution of wealth leads to too much money being spent on capital goods which in turn leads to abnormal credit rates. So why did so many consumers spent so much money on capital goods? Could it be because the purchasing power of the U.S. Dollar fell approximately 66% between 1900 and 1920? "Credit expansion cannot increase the supply of real goods. It merely brings about a rearrangement. It diverts capital investment away from the course prescribed by the state of economic wealth and market conditions. It causes production to pursue paths which it would not follow unless the economy were to acquire an increase in material goods. As a result, the upswing lacks a solid base." "It is not real prosperity. It is illusory prosperity. It did not develop from an increase in economic wealth. Rather, it arose because the credit expansion created the illusion of such an increase. Sooner or later it must become apparent that this economic situation is built on sand." Ludwig von Mises - "The Causes of the Economic Crisis" (1931) Source: https://mises.org/library/causes-economic-crisis-and-other-essays-and-after-great-depression
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  11.  @LATQueens  The velocity of money has nothing to do with interest rates.
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  12. Joining the Amish is looking more attractive with each passing day, doesn't it?
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  13. That €144,000.=/month is coming from other Germans unvoluntarily, either directly (via tax) or indirectly (via inflation).
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  14. Passenger side is the addendum side.
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  15. Hey @Uneducated Economist, have you seen Peter Schiff's tweet on lumber prices? I bet you have.
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