What will fix the economy

[ver4]

Legal prostitution.

[Miraz]

Legal prostitution.

Did you not notice the election?

[trumpetguy]

Legal prostitution.

Did you not notice the election?

I don't care who you are -- that's funny (and true).  Money can't buy happiness, but the Koch brothers proved it can buy a buttload of astroturf.

[JB848]

Nothing for nothing but stopping things like this is a start!

http://www.youtube.com/watch?v=QHoAuk76fT8

Just click on it you'll understand!

[uninhibited]

Ha ha ... try this ...

"If the United States can increase the volume of dollars and it can transmit inflation to other countries to lessen the pressure of debt, then it will bring about a catastrophic influence on the world," said Cheng Siwei, a deputy chairman of China's legislature.

Yes I think that is exactly what we should do.

Keep bond interest very very low - like it is now.

Print $ like crazy and screw them, we dont even tell them. We just fund infrastructure projects, and do all the things that would prep us for the new world order.
Cool.
Buddha.

I'm not sure what they will call this new world order but the last time a country went mad printing unbacked money it left us with the Third Reich.

[JB848]

Ha ha ... try this ...

"If the United States can increase the volume of dollars and it can transmit inflation to other countries to lessen the pressure of debt, then it will bring about a catastrophic influence on the world," said Cheng Siwei, a deputy chairman of China's legislature.

Yes I think that is exactly what we should do.

Keep bond interest very very low - like it is now.

Print $ like crazy and screw them, we don't even tell them. We just fund infrastructure projects, and do all the things that would prep us for the new world order.
Cool.
Buddha.

I'm not sure what they will call this new world order but the last time a country went mad printing unbacked money it left us with the Third Reich.

Wow, I am not a financial guru but I know a bad thing when I see it. When people compare the United States to the 3rd Reich?
First you need to know the monetary system? While I don't agree what the FED is doing, what is the alternative at this point? Have another country own us? It's almost there. While this brings military stability to us, financially it ruins us. The rest of the world does not want us to do this, why? Because the U.S. is the most recognized currency in the world. Why? Because it is guaranteed to be stable and it does not fluctuate. Imagine if you bought a shiat load of stock in Germany? It all got equalized with the Euro, even though German Deutchmark was worth more then a French Frank? In one day the government decided that your money was the same! So if you had 500,000 Deutchmarks in Germany and the same guy had 1,000,000 Franks in France, the sameday he lost 500,000 Euro's?

Now if that don't sound right or scary it should! There was a chance we would go to an AMERO! Mexico, Canada, and the US where going to do this. Well if you don't mind losing 1/4 or more of your wealth then hey no issue but I don't intend to.

Be educated, know what is going on the FED just de-valued your money by 20%. Your one dollar is only worth $.80 cents now. Nixon did this in the 70's. It's a bad deal.

[Miraz]

It is a bad deal....our currency is going the other way....it has gone from A$1 = US$0.60 to A$1 = US$1.02 in less than a year.....40% increase WTF!

Not that we are doing any better, it's just that our housing bubble hasn't burst yet...so you're just a little further along the curve.

- Speculative investment in housing starves other things of investment dollars
- Housing is a non-productive asset, it provides no return other than speculative gain
- In order to fix the economy you need to invest in productive assets, things that will produce a return on your investment
- As economic productivity improves, the ability to get control of the debt will improve
- the problem is that in the meantime, all that profit that people "earned" just by speculating on non-productive assets is reverting back to a loss
- so it's going to hurt for a while, as fewer people will have the ability or confidence to invest

I think you'll find that the last country that went mad printing money without matching it with growth in productive output was Zimbabwe....

Here are a couple of graphs to scare you some more...

[The Buddha]

We really need to take the economy out of the hands of politicians, but then that would be like the judicial system, where its all political ... but well ... not. Weird.

Anyway printing $ is really the counter weight to china. However since china was complaining we are printing what we do is issue bonds and sell em to china, that way we get $ from china and give em paper, that cycle continues ... till china has lots of paper and we have all the $, then when china wants the $ we print it ... like crazy.

Cool.
Buddha.

[madjak30]

Thank god Buddha isn't running the country...to trigger happy and bitter....we'd all be effed....

I don't think there is one thing that will "fix" it...but lots of steps in the right direction...just need to push them there...

Later.

[mister]

Abolish INCOME TAX.

What you earn is your property. No-one - no-one at all - as a right to take your property without your UNcoerced voluntary permission.

INCOME TAX is theft. It's a tax on effort. And does nothing other than make us the equal of middle age serfs.

Michael

[The Buddha]

Thank god Buddha isn't running the country...to trigger happy and bitter....we'd all be effed....

I don't think there is one thing that will "fix" it...but lots of steps in the right direction...just need to push them there...

Later.

Oh yea, that would be very different from the clowns who are running it now ...
Lots of steps ... and most of it will never get out of the gate. The thought I have is that we take a lot of steps in the wrong direction, and shaft china and other countries that use slave labor to get an economic advantage. We have a good system going, just keep it going for the time till china decides to reverse course. Then we just print up $ and give to them.
The thing to remember is, its not us who has ended up here due to our actions, china has played a very big role, I am tempted to get to the end  of this line without making any changes.
We're selling bonds to china getting $ from them, and buying their products. Just do more of it with some small changes, like pay for the imports minus returns and that sorta thing. I dunno, currently walmart may be charging back for returns. Walmart is pretty smart that way, just get the same system going, sell em more bonds and keep it going. When they realise they'd want their $ back, and they start to sell the bonds, we print $ and give to them. That will in literally instantly make everything from china be 10-100 X more $ and we can start manufacturing those things again.

Its not that we cannot make things, we just cannot make them cheaper than china. We dont need austerity crap, we can print $ at will, doing it now will just do much of nothing  cos china is indexing their yuan to the USD. We need to wait till they stop that, as well as want to sell the bonds back.

Cool.
Buddha.

[mister]

Germany has to pay back in Gold. Does so. Runs out of Gold. Britain says... we have some you can Buy. Germany goes... sweet, print print print... he ya go, here's ya moolah now give us the gold. Germany now has gold. Brit says... you owe us Gold. Germany hands over gold and says, I have no more Gold. Brit says... we have some you can buy. Germany goes... print print print... here'a ya dosh now gimme the gold. In comparison, Germany's Mark is tanking to the Pound. So to Brit, everything in Germany is cheap as. Brit says... let's buy it, Germany is having a sale.

Fast forweward... China has bonds. They want $. Print it. Rinse. Repeat. The greenback goes down In Comparison. They come in and buy cause US having a firesale cause it's all cheap as. Like Germany.

Step one is.... cease the issuance of currency with interest attached - the Federal Reserve is a Private Bank that LOANS $ to the US Govt at Interest. Oh wait, Kennedy tried that and was assassinated for it.

Politicians don't run jack. They are the puppets of the real power players behind the scenes. They are the Face and when needed the Fall Guys. That's all Pollies are. The bureaucrats and backers is where the power lies - where noone is looking. And we don't Elect them. And they like the game just how it is.

Michael

[The Buddha]

Abolish INCOME TAX.

What you earn is your property. No-one - no-one at all - as a right to take your property without your UNcoerced voluntary permission.

INCOME TAX is theft. It's a tax on effort. And does nothing other than make us the equal of middle age serfs.

Michael

That may be true, however a consumption based tax is a lot more work to collect. The side effect of that trend if it ever comes through to be law would be a explosion of street vendors and no big super markets with electronics cos taxes would be ridiculous for booked transactions, the trend will be away from that. Like in India. I am not saying its bad, we need to keep corporations out of our life.
In any event it will be much more work to collect ... Then the buddha will crank out bars and sell em on every street corner and pay no tax. Whooo hooo
Cool.
Buddha.

[mister]

Well, in Aust we have GST (Goods & Services Tax) On Services it is another form of Income tax. ON goods 10% is added to get the final price. So a $100 item sells for $110.

Each and every business in the line of distribution has to add this on. And each and every business has to file a quarterly statement of how much GST they have Taken In and How Much they have paid out - for goods they bought. If they paid more than they took, they get a refund. Otherwise they Owe the difference. It's quite simple really. Nothing hard about it at all. Yes, it means more incentive to do deals Off the Books. But why is that a bad thing?

Michael

[The Buddha]

Its not a bad thing but as the sales tax no matter what you call it increases the economy will just shift underground.
Yes every business will have to add it on - so that will firstly eliminated the part of the supply chain that just hands it off to the next guy. Ergo, bigger businesses like WM will crush the competetion for manufactured goods.
Then farmers will sell out of the front of their farm which is what I'd like to see ... and people will buy food right off the farm cos well, they can get away without paying that tax.

BTW replacing income taxes with consumption tax will result in a near 50-60% sales tax. There will be a lot more cooking the books at the micro level to avoid it. For example, I have a farm and I spend 10K buying stuff, then I sell stuff for 50K, however I'd sell for 30K under the table, 20K booked, and deduct the 10K expense and call it 10K as sales, and be paying tax only on that. We used to do it all the time in india. If sales tax goes up to 50% guess what, I'd be shopping @ a flea market for all the stuff I need. Honestly, farm products going through 10 middle men is garbage, they all dont add no value and they just get it more stale and closer to rotting, however what do people who dont live near farms do ? They get shafted ...

Cool.
Buddha.

[madjak30]

Well, in Aust we have GST (Goods & Services Tax) On Services it is another form of Income tax. ON goods 10% is added to get the final price. So a $100 item sells for $110.

Each and every business in the line of distribution has to add this on. And each and every business has to file a quarterly statement of how much GST they have Taken In and How Much they have paid out - for goods they bought. If they paid more than they took, they get a refund. Otherwise they Owe the difference. It's quite simple really. Nothing hard about it at all. Yes, it means more incentive to do deals Off the Books. But why is that a bad thing?

Michael

We have the GST here in Canada as well, and a "new" one called HST (harmonized sales tax)...it is the PST (provincial sales tax) combined with the GST to give you a good "gouge & screw tax"...I luckily live in a province that doesn't have PST...yet...but our GST has been reduced over the last few years from 8% to 5%...

As for abolishing the income tax...well then you will see the increase in sales taxes...but I think they should have one or the other, not both...it just doesn't seem right that we are taxed when we earn it, and taxed when we spend it...and don't get started on the tiered taxation...the more you earn thehigher the rate of taxation?? WTF??  Where is the incentive to make more, unless you can make considerably more...I know guys that take an extra day off every two weeks and their check (take home) is slightly more every two weeks than if they worked all ten days...kinda sucks...

Later.

[mister]

Well, in Aust we have GST (Goods & Services Tax) On Services it is another form of Income tax. ON goods 10% is added to get the final price. So a $100 item sells for $110.

Each and every business in the line of distribution has to add this on. And each and every business has to file a quarterly statement of how much GST they have Taken In and How Much they have paid out - for goods they bought. If they paid more than they took, they get a refund. Otherwise they Owe the difference. It's quite simple really. Nothing hard about it at all. Yes, it means more incentive to do deals Off the Books. But why is that a bad thing?

Michael

We have the GST here in Canada as well, and a "new" one called HST (harmonized sales tax)...it is the PST (provincial sales tax) combined with the GST to give you a good "gouge & screw tax"...I luckily live in a province that doesn't have PST...yet...but our GST has been reduced over the last few years from 8% to 5%...

As for abolishing the income tax...well then you will see the increase in sales taxes...but I think they should have one or the other, not both...it just doesn't seem right that we are taxed when we earn it, and taxed when we spend it...and don't get started on the tiered taxation...the more you earn thehigher the rate of taxation?? WTF??  Where is the incentive to make more, unless you can make considerably more...I know guys that take an extra day off every two weeks and their check (take home) is slightly more every two weeks than if they worked all ten days...kinda sucks...

Later.

Actually, if you remove Personal Income Tax the people will SPEND the extra $. So you get $ in circulation and the govt gets an Increase in GST. IN the end the govt does Not lose out as far as tax goes, but the economy improves cause $ is circulating.

But all this assumes the govt - or those who pull the strings of the political puppets - actually wants a flourishing economy. I don't believe they do.

Michael

[The Buddha]

People in the $/power really have an incentive to keep the vast differences in income getting worse. But taxing consumption will really in a few years be a losing game because the economy will shift underground. Already dont kid yourself over 25% of the economy is underground, and it may be as high as 50% in the poorer sections of the country as well as big cities where there is a lot of street activity.

Also I dont agree that taxing income is a tax on effort. Lets see, my boss makes more $ than I do, but that I'd say is mainly on the backs of working class stiffs like me. I think he needs to pay for bugging me.

Taxing consumption will almost instantaneously eliminate the middle man, push 1/2 the economy underground and the buddha will go 100% underground, make handlebars and sell em on the street corner and take the $ and go to fleamarket and buy cool sheite. Excellent if you ask me, but remember middle men are everywhere ... 1/2 the millionaires and up have made $ somewhere in the supply chain. tax laws have a far greater impact than any one realises. Seriously, I would like that very much, but I'm thinking it will never come to pass. Oh yea IRS will have to be a lot bigger, they have more petty criminals to chase after.

Cool.
Buddha.

[sotomoto]

I don't know what can fix the economy.
I think i know --who-- can fix the economy: nwo can