|
Korean Job Discussion Forums
"The Internet's Meeting Place for ESL/EFL Teachers from Around the World!"
|
| View previous topic :: View next topic |
| Author |
Message |
RJjr
Joined: 17 Aug 2006
Location: Turning on a Lamp
|
 Posted: Wed Jun 25, 2008 1:16 pm Post subject: |
 |
|
| bacasper wrote: |
| mindmetoo wrote: |
| Since you know that crash is coming, don't you think being in Korea is probably a bad, bad place to be? What are you doing to prepare? |
Where would be a good place, and why would Korea be worse than elsewhere? |
If there's a sudden crash, Korea (where anything bad is always the fault of foreigners), wont be a fun place to be.
I'll probably be on my family's farm in the USA. Right now, most Americans are crashing our economy from being paranoid about guys in places like Pakistan and Yemen, but when the economic crash happens, the biggest dangers will be from people who live in the same town or neighborhood. It's going to be crazy here, like Hurricane Katrina chaos multiplied by 1000. |
|
| Back to top |
|
 |
Zenas
Joined: 17 May 2008
|
| Posted: Wed Jun 25, 2008 1:20 pm Post subject: |
|
|
Here's one ingredient:
Almost 100 years of fiat money creation. Fiat money demands more and more money being printed to pay for the interest when fiat money is loaned into the system.
Money + Interest Rate must be repaid by the printing of more money as IR must be repaid with newly printed money.
After almost 100 years of the printing of the dollar unbacked by anything of value - the last 63 with the dollar as the world's reserve currency - the evils of fiat currency are coming home to roost.
The world is flooded with dollars which is causing price inflation in basic commodities as investors flee to assets of real value. Every basic commodity is increasing in price, save gold and silver, which are being suppressed by the PPT to prevent others from realizing what is going down. High gold and silver prices is the red flag, and the PPT is preventing the waving of the red flag, for now.
Everyone with any economic smarts knows holding the dollar is holding the Old Maid. Everyone will be trying to unload the Old Maid. And no one wants to accept dollars.
While the Fed is printing dollars, causing hyperinflation in the States and inflation abroad, investors are unloading their dollars and buying into commodities - mostly through the options markets, that is a few dozen people, less than 100, are causing worldwide inflation.
____________________________________________
_________________________________________ |
|
| Back to top |
|
|
Zenas
Joined: 17 May 2008
|
| Posted: Wed Jun 25, 2008 1:26 pm Post subject: |
|
|
| Quote: |
| I'll probably be on my family's farm in the USA. |
Probably no better place to be in the next several years. got room and board for a hard worker with a wide variety of skills?
Just like the Bolsheviks drove the farmers from their farms in Russia during the Bolshevik Revolution, Group A agribusiness corporations have driven the American farmer off his farm. There are now less than 200,000 farmers in the States almost all exclusively growin GMO crops for agribusinesses.
In Russia, Bolshevik policies resulted in the starvation of millions.
______________________________________
| Quote: |
| It's going to be crazy here, like Hurricane Katrina chaos multiplied by 1000. |
100% correct.
_____________________________ |
|
| Back to top |
|
|
mises
Joined: 05 Nov 2007
Location: retired
|
| Posted: Wed Jun 25, 2008 1:37 pm Post subject: |
|
|
| Zenas wrote: |
Here's one ingredient:
Almost 100 years of fiat money creation. Fiat money demands more and more money being printed to pay for the interest when fiat money is loaned into the system.
Money + Interest Rate must be repaid by the printing of more money as IR must be repaid with newly printed money.
After almost 100 years of the printing of the dollar unbacked by anything of value - the last 63 with the dollar as the world's reserve currency - the evils of fiat currency are coming home to roost.
The world is flooded with dollars which is causing price inflation in basic commodities as investors flee to assets of real value. Every basic commodity is increasing in price, save gold and silver, which are being suppressed by the PPT to prevent others from realizing what is going down. High gold and silver prices is the red flag, and the PPT is preventing the waving of the red flag, for now.
Everyone with any economic smarts knows holding the dollar is holding the Old Maid. Everyone will be trying to unload the Old Maid. And no one wants to accept dollars.
While the Fed is printing dollars, causing hyperinflation in the States and inflation abroad, investors are unloading their dollars and buying into commodities - mostly through the options markets, that is a few dozen people, less than 100, are causing worldwide inflation.
____________________________________________
_________________________________________ |
So, typical anti-fiat stuff. I figured so.
I'm neither fond of or hostile to fiat systems. Frankly speaking, most people -- especially the aggressive critics/defenders -- who speak of the system have almost no idea what they are talking about.
Anyways, the US does not have "hyperinflation". The real inflation is likely around 5-6%. Maybe as high as 8%. Not exactly a historically scary level.
The idea that "no one wants to accept dollars" is dead wrong. For a naked refutation of this you can look at the growing dollar denominated assets being held at either historically level or very high (China) rates. Gold isn't that expensive by historical examination, in fact it has merely recovered from the Volker Fed. I suspect that it will reach higher, and maybe even the 2k mark if the Fed cuts rates again. But that is exceedingly unlikely for the medium run.
What you are missing is that all the billions, and some estimates put it as high as more than one trillion, in dollar assets that will evaporate. It will be hard to have hyper inflation when the cash is drying up.
But yes, there is a perfect storm. A perfect storm for a U-shaped recession that is deep and painful. Feel free to retreat to the Montana mountains anyways. |
|
| Back to top |
|
|
Zenas
Joined: 17 May 2008
|
| Posted: Wed Jun 25, 2008 1:40 pm Post subject: |
|
|
Being able to read, understand what one reads, ability to connect the dots and think critically are not qualifications for a reasonable logical opinion as to what is happening economically?
Would I be more qualified if I had a degree in economics from a university that trained me to go work in the corporate world?
_____________________________
| Quote: |
| Anyways, the US does not have "hyperinflation". The real inflation is likely around 5-6%. Maybe as high as 8%. Not exactly a historically scary level. |
Never said it did. I said hyperinflation is baked in the economy, like yeast. Hyperinflation is to follow with the next six - eighteen months.
How wrong you are about the inflation rate. The real inflation rate in the US is about 15% or more.
_________________________________
| Quote: |
| It will be hard to have hyper inflation when the cash is drying up. |
really? ever hear of stagflation?
Cash drying up? Credit is drying up, not cash. The Feds just sent out their stimulus of $600 to everyone slave enough to file an income tax return.
_______________________________________
_________________________________
Last edited by Zenas on Wed Jun 25, 2008 1:50 pm; edited 1 time in total |
|
| Back to top |
|
|
mises
Joined: 05 Nov 2007
Location: retired
|
| Posted: Wed Jun 25, 2008 1:49 pm Post subject: |
|
|
| Zenas wrote: |
Would I be more qualified if I had a degree in economics from a university that trained me to go work in the corporate world?
|
Meh, yes and no. Though it is my profession, I don't have much faith in academic economics as a discipline. Though I have much less respect for the internet conspiratorial wackonomics that you're pushing.
See, there are very good reasons to be critical of the Fed, particularly as it has been governed in recent. And I am, as are all of my peers. But when the Fed is neatly inserted, along with "all European central banks" into an international Jewish conspiracy, I've got to call a crazy spade a crazy spade.
There is something in the Western and particularly American psyche that is prone to end-times nonsense popping its ugly head up as soon as something goes a little wrong. |
|
| Back to top |
|
|
Zenas
Joined: 17 May 2008
|
| Posted: Wed Jun 25, 2008 1:52 pm Post subject: |
|
|
Buffett Says He's Concerned About U.S. `Stagflation'
http://www.bloomberg.com/apps/news?pid=20601087&sid=amCCz4wNzVCE&refer=home
qualified enough for ya?
__________________________
| Quote: |
But when the Fed is neatly inserted, along with "all European central banks" into an international Jewish conspiracy, I've got to call a crazy spade a crazy spade. |
Anyone who says his profession is economics and doesn't know that the Rothschilds have controlled European banks for at least the last two hundred years, knows squat about European banking history.
___________________________________
Mayer Amschel Rothschild quote:
Give me control of a nation's money and I care not who makes the laws.
Rothschilds are the controlling family in the privately controlled Federal Reserve. That's common knowledge.
______________________________________
You're liberal with the ad hominem, short on facts to support your view.
Can you do better?
________________________________________
Last edited by Zenas on Wed Jun 25, 2008 1:58 pm; edited 1 time in total |
|
| Back to top |
|
|
Ya-ta Boy
Joined: 16 Jan 2003
Location: Established in 1994
|
| Posted: Wed Jun 25, 2008 1:57 pm Post subject: |
|
|
| Which famous psychologist said, "The first sure sign of neurotic self-absorption is the frequent use of the phrase 'connect the dots'"? |
|
| Back to top |
|
|
Zenas
Joined: 17 May 2008
|
| Posted: Wed Jun 25, 2008 1:59 pm Post subject: |
|
|
Probably the psychologist who never learned to connect the dots while in kindergarten.
_____________________________________ |
|
| Back to top |
|
|
mises
Joined: 05 Nov 2007
Location: retired
|
| Posted: Wed Jun 25, 2008 2:00 pm Post subject: |
|
|
| Quote: |
| How wrong you are about the inflation rate. The real inflation rate in the US is about 15% or more. |
Are you in the United States? I'm sure not seeing 15% at all. Even shadowstats is only claiming 11%.
| Quote: |
| really? ever hear of stagflation? |
I thought you were predicting economic Armageddon, not stagflation?
| Quote: |
Cash drying up? Credit is drying up, not cash. The Feds just sent out their stimulus of $600 to everyone slave enough to file an income tax return.
|
Given the way Americans spend, you can be sure that the 600$ per citizen either went to junk or debt. Anyways, do you not understand the relationship between credit and physical money? |
|
| Back to top |
|
|
Cheonmunka
Joined: 04 Jun 2004
|
| Posted: Wed Jun 25, 2008 2:03 pm Post subject: |
|
|
During the depression of the thirties unemployment was 10%. Some people got hit hard. Still, life turned over sufficiently for most people.
When the Asian financial crises hit here, many teachers left, citing the ex- rate losses. Jobs were available due to the reduction in the numbers of foreign teachers.
Poorly financed hagwons went to the gurgler. Well, some directors had their fingers in pies all over the place. Yet, some hakwons maintained decent or satisfactory student numbers to stay afloat.
For me, another financial collapse won't necessarily be evil. Actually, it could cause me to seek out some bargains.
Last edited by Cheonmunka on Wed Jun 25, 2008 2:09 pm; edited 1 time in total |
|
| Back to top |
|
|
mises
Joined: 05 Nov 2007
Location: retired
|
| Posted: Wed Jun 25, 2008 2:09 pm Post subject: |
|
|
Stagflation isn't economic Armageddon, which is what you've been preaching. It is when lower interest rates no longer stimulate aggregate demand/cause growth.
| Quote: |
Anyone who says his profession is economics and doesn't know that the Rothschilds have controlled European banks for at least the last two hundred years, knows squat about European banking history.
Mayer Amschel Rothschild quote:
Give me control of a nation's money and I care not who makes the laws.
Rothschilds are the controlling family in the privately controlled Federal Reserve. That's common knowledge. |
Not common enough apparently. How about some evidence of these claims? I googled the claim and found all the normal Jews Run The World sites.
| Quote: |
| You're liberal with the ad hominem, short on facts to support your view. |
Dude, you are the definition of an idiotarian. Do you know what that is? Pan-idiotarianism is when all the stupid ideologies morph into one ideology and form a super-duper idiotic ideology. Already you have fundamentalist Christianity, 911 truther stuff, neo-nazi ideas about race, rantings about economic Armageddon. I'm waiting for you to post about how the chupacabre is a Jewish conspiracy to kill American pigs. |
|
| Back to top |
|
|
Zenas
Joined: 17 May 2008
|
| Posted: Wed Jun 25, 2008 2:17 pm Post subject: |
|
|
| Quote: |
| Dude, you are the definition of an idiotarian. |
Can we get one thing straight? I don't care what you, or anyone else, think of me.
So, can we cut with the 7th grade level ad hominem and try to keep the discussion on an adult level? Or is that too much to ask of someone as smart as you think you are?
_______________________________________
| Quote: |
| During the depression of the thirties unemployment was 10%. Some people got hit hard. Still, life turned over sufficiently for most people. |
That depression was over 70 years ago. things are different today. then, the US still had a manufacturing base, fewer immigrants - all from European countries - and almost no third world illegals and many people still lived on farm or grew their own food.
Not so today.
____________________________________
| Quote: |
| I googled the claim and found all the normal Jews Run The World sites. |
Do you expect to be able to go to the Rothschild web site and have them admit they control the Western world's banking system | fiat money supply?
The Federal Reserve site and for them to admit, "Yup, it's true, the Federal Reserve is neither federal or a reserve and yes, the Federal Reserve Act of 1913 is unconstitutional and therefore illegal?"
And, "Yup, to pay for all those goods the US is importing - including oil, we're flooding the world with ever increasing worthless dollars?"
________________________
______________________ |
|
| Back to top |
|
|
Ya-ta Boy
Joined: 16 Jan 2003
Location: Established in 1994
|
| Posted: Wed Jun 25, 2008 3:14 pm Post subject: |
|
|
| Quote: |
If there's a sudden crash, Korea... wont be a fun place to be.
|
I was here throughout the collapse of '97. Hakwons suffered because people couldn't afford the tuition.
There is a difference this time. Far many more foreigners work for public schools. This should be safe for them since the demand for English will remain high, and might even intensify. (Is that even possible?) |
|
| Back to top |
|
|
mindmetoo
Joined: 02 Feb 2004
|
| Posted: Wed Jun 25, 2008 3:20 pm Post subject: |
|
|
| So, Charles, if you think the big one is coming, you better get out of Korea. No? |
|
| Back to top |
|
|
|
|
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
|
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
