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Riedle
Minmatar Wayne's TV and Appliances
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Posted - 2010.12.02 20:11:00 -
[61]
Stating that the 'only problem with printing more money is inflation' is a misnomer because run-away inflation is really the worst long term thing that can happen to an economy.
So printing more money without the economy to back it up is the surest way to tank an economy.
That said, the USA is in much better shape fiscally than almost all other western nations because the debt to gdp ratio is not that advanced (yet). That said they definitely have to turn the debt ship around - and quick. Another thing in the USA's favour is a birth rate that is above replacement level and a healthy immigration rate. It's Western Europe with neither of these and worse debt that is the worry.
Really Canada is the only country that is in better shape. oh, shouldn't forget Australia but both have birth rates that are wanting which is not good for long term prospects either but they are not in a death spiral of some Western European countries.
Besides all of this, China is facing a huge demographic challenge as well. For this reason I see India as being the real up and comer as far as increased geo-political power in the 21st century from among the developed world. China is going to have more single men than Canada has people in the next 15 years. That is not a good thing.
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Tora Nevaal
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Posted - 2010.12.02 20:14:00 -
[62]
You're looking at it the wrong way. It's not the physical money that matters. Yes, the US prints 100's of millions of dollars a day, but at the same time we retire almost as many bills to balance it out. The strength of the dollar is based on many factors. Back in the days of the gold standard, every dollar was backed with a physical value. So a countries strength was determined by how much gold it could buy. Nowadays it's much more abstract. The greatest factor now of determining a nations strength is the national Gross Domestic Product. How much the country makes determines how strong the economy is. You can't just magically create economic strength.
It's as if tomorrow the government decided to print and give every citizen a $10,000 bill. So now everyone in the country has this free money burning a hole in their pocket so they all go to Al's car dealership to buy a new sports car. This car normally cost $10,000 (it's an analogy, just go with it), but good ol' honest Al knows that everyone who comes to his dealership now has all this expendable money, so he jacks up the price of the car to $15,000, because he knows that all these people can now afford that. That's called inflation. It's a very simplified example. but you get the idea.
And in spite of America having such a large GDP relative to GB, the dollar is still only worth .64 pounds sterling.
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Zhim'Fufu
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Posted - 2010.12.02 20:37:00 -
[63]
Originally by: Tora Nevaal You're looking at it the wrong way. It's not the physical money that matters. Yes, the US prints 100's of millions of dollars a day, but at the same time we retire almost as many bills to balance it out. The strength of the dollar is based on many factors. Back in the days of the gold standard, every dollar was backed with a physical value. So a countries strength was determined by how much gold it could buy. Nowadays it's much more abstract. The greatest factor now of determining a nations strength is the national Gross Domestic Product. How much the country makes determines how strong the economy is. You can't just magically create economic strength.
It's as if tomorrow the government decided to print and give every citizen a $10,000 bill. So now everyone in the country has this free money burning a hole in their pocket so they all go to Al's car dealership to buy a new sports car. This car normally cost $10,000 (it's an analogy, just go with it), but good ol' honest Al knows that everyone who comes to his dealership now has all this expendable money, so he jacks up the price of the car to $15,000, because he knows that all these people can now afford that. That's called inflation. It's a very simplified example. but you get the idea.
And in spite of America having such a large GDP relative to GB, the dollar is still only worth .64 pounds sterling.
This is the Great Game of Economics. The constant battle of balance between wages and costs. Tbh the only reason debt has any power on the global scale is due to the superiour bargining position it puts the owner of the debt. China will never call in that loan and instead will use it as a gambit for other stuff they need like food or materials or tech. I mean seriously I can't think of a single year that someone isn't calling out the doom of the world due to a large national deficit. And yet here we still are.
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Tora Nevaal
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Posted - 2010.12.02 21:20:00 -
[64]
And that's the catch-22 of china becoming THE emerging economic powerhouse. Because while America is able to purchase products manufactured in China and shipped to America for cheaper than we can produce them here, we are systematically making them stronger while at the same time weakening ourselves. China doesn't have to collect our debt, we're already paying them everything they need.
The real threat is not China calling to collect on our debt some day, but either that they stop purchasing US securities, or sell the ones they do have all at once, flooding the market, making it impossible for the US to continue selling bonds etc. and thus tanking the economy. Combine that with a consistently undervalued yuan - affording them insurance in the future should they need it, and it becomes a very tense stand off. The only insurance that we have is the fact that the two nations economies have become so intrinsically linked that the failure of one would result in the subsequent collapse of the other. It's Mutually Assured Destruction on an economic scale.
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George Grob
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Posted - 2010.12.02 21:27:00 -
[65]
why develop new stupid toys when you could just call crazy horse and let them fire at anything moving? including allied troops, friendly fire ftw
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Zhim'Fufu
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Posted - 2010.12.02 21:32:00 -
[66]
Edited by: Zhim''Fufu on 02/12/2010 21:36:42
Originally by: Tora Nevaal And that's the catch-22 of china becoming THE emerging economic powerhouse. Because while America is able to purchase products manufactured in China and shipped to America for cheaper than we can produce them here, we are systematically making them stronger while at the same time weakening ourselves. China doesn't have to collect our debt, we're already paying them everything they need.
The real threat is not China calling to collect on our debt some day, but either that they stop purchasing US securities, or sell the ones they do have all at once, flooding the market, making it impossible for the US to continue selling bonds etc. and thus tanking the economy. Combine that with a consistently undervalued yuan - affording them insurance in the future should they need it, and it becomes a very tense stand off.
Yes we are paying them money that they turn around and give right back to us when they purchase the raw materials they don't have enough of. China is one of the most resource poor counties in the world that just so happens to have the biggest population by a rather large margin. All the money in the world can't help with that if we refuse to sell to them.
Originally by: Tora Nevaal The only insurance that we have is the fact that the two nations economies have become so intrinsically linked that the failure of one would result in the subsequent collapse of the other. It's Mutually Assured Destruction on an economic scale.
Thats the real catch-22.
Originally by: George Grob why develop new stupid toys when you could just call crazy horse and let them fire at anything moving? including allied troops, friendly fire ftw
Because civilian deaths are always bad press and friendly fire is usually worse at least domestically.
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NatteFrost85
Amarr The Capsuleer Republic
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Posted - 2010.12.02 21:34:00 -
[67]
i want one!
_________________________________________________ "Hear hear, a name isn't going to help you do better.
signed,
Major Awesome McWinsalot von Popularwithzeladies."
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Vogue
Skynet Nexus
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Posted - 2010.12.02 21:36:00 -
[68]
Edited by: Vogue on 02/12/2010 21:38:43 Australia and Canada have avoided the large brunt of the global financial crisis because they have more stringent, boring banking regulations. You won't find this being reported in your 'free'(not) western media
.
On the latest GPS show on CNN it started with a brief piece about the religious puritans who where among the first to colonise the USA. As well as there religious views they had a strong work ethic and an ethos of 'deferred expectations'. Which is work hard, do not be greedy and enjoy the fruits of your labour in time. Previous generations of Americans, and Europeans had this ethic. But now with consumerism we think we are better than what we are, we want it now, and what me want is more than before. As well as this being our material outlook it also makes us politically fickle.
Whereas A lot of Asians - Chinese, Indians have this old deferred expectations ethic. And they prize the worth of long term investment in education.
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Barakkus
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Posted - 2010.12.02 21:45:00 -
[69]
Those have been around for a while, I remember seeing them on Discovery or History channel like 10 years ago. Surprised it took so long to get them into the field, figured they'd want to play with their new toys sooner...
There was some other X equipment used couple years ago in Afghanistan, just don't remember what it was...another type of gun I think...it may have been something along the same lines but assault rifles with programmable, explosive rounds.
They also have some assault rifles that have cameras mounted and a helmet HUD dealie and some other nifty little gadgets that have been in the experimental stages for a while now. Probably see more of them put in combat in the next year or two.
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Zhim'Fufu
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Posted - 2010.12.02 21:53:00 -
[70]
Originally by: Vogue Whereas A lot of Asians - Chinese, Indians have this old deferred expectations ethic. And they prize the worth of long term investment in education.
I can't speak for other countries but at least in america the economic crunch has put thrift and planning back into the day to day routines of my friends and their families. Nothing like a little belt tightening to curb exorbant lifestyles. Plus I think people are slowly finding out that maybe all that extra stuff they used to blow money on isn't really being missed all that much. Tbh the biggest gripers about the current economy are the corps who used to pull in huge profit margins off all the stuff people found out they don't really need.
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Tora Nevaal
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Posted - 2010.12.02 21:59:00 -
[71]
Edited by: Tora Nevaal on 02/12/2010 22:05:13
Originally by: Vogue Edited by: Vogue on 02/12/2010 21:38:43 Australia and Canada have avoided the large brunt of the global financial crisis because they have more stringent, boring banking regulations. You won't find this being reported in your 'free'(not) western media
But wait, doesn't more stringent regulation equate to socialism? But socialism is bad and everyone dies poor and lonely under it's autocratic rule. Right? And isn't Socialism and Communism the same thing? Are you promoting the tenants of communism? Are you a pinko!?!?! (This thing sucks at sarcasm).
Interestingly enough I believe that the main reason why so many of us play EVE in the first place is because of the dedication and time required to learn and succeed and the delayed rewards that it brings. Perhaps we're all a little old world. And socialist.... I guess what I'm trying to say is: bring back the f-ing learning skills!
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Vogue
Skynet Nexus
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Posted - 2010.12.02 22:13:00 -
[72]
Politicians should do politics for governance. But politics for politics creates dysfunction. Never mind which left or right ideology and its dogmatic arguments. But study the various political issues - look at history. Seen what has worked what has not. Devise a plan then implement the plan for a sufficient length of time so the public and business can run with it.
The previous 3 times Republicans ran congress and senate they were as useful to sorting out the deficit as a bucket with holes for collecting rain water.
The most sense coming out of people is independent old advisors from previous administrations and ex federal bank staff. They have no particular democrat or republican agenda to push.
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Tora Nevaal
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Posted - 2010.12.02 22:20:00 -
[73]
Edited by: Tora Nevaal on 02/12/2010 22:28:12 Edited by: Tora Nevaal on 02/12/2010 22:24:58 sarcasm/ So placing former private sector banking and industry CEO's in key government positions and then letting them do whatever the hell the want with no oversight whatsoever was not the way to run a country??? Now you're just talking crazy. /sarcasm
On a plus note, the US budget deficit is actually on the decline, thank Buddha for small miracles.
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Vogue
Skynet Nexus
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Posted - 2010.12.02 22:37:00 -
[74]
Edited by: Vogue on 02/12/2010 22:44:44 I do not necessarily mean put the experienced independents in charge. But that drill through the partisan crap and can clearly say what is broken and what needs to be fixed.
But politics is always a messy business. It is not alluring to pure minds and not attractive as a career. A bit of deceit is needed to wheel and deal with people. To offer them something they want in return for something you want. As an individual I can come out with all these fancy views but I have poor skills in motivating a group of people to do something in common. And that is the rub - To deal and lead people to get them to do something which is for all their best interests. And to deal with people who, through the random course of life, are opposed to you but to get them on side. Such brilliant people are rare. Like Abraham Lincoln, Nelson Mandela. Compared to other fields of endeavour politicians are generally 2nd rate.
Churchill said democracy is the least worse system. But now it is the least worst system with the addition of a serious deficiency of being out manoeuvred by autocratic countries who can wield far greater strategic control of finance.
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Tora Nevaal
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Posted - 2010.12.02 23:07:00 -
[75]
Oh, I agree with you. Like I said, this thing sucks at sarcasm.
Who was it that said "any club that would have me as a member I don't want to be a part of."? That's the way politics has always been. The only people who have the stomach for it are the ones least deserving of the power.
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So Sensational
GREY COUNCIL Nulli Secunda
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Posted - 2010.12.02 23:47:00 -
[76]
Edited by: So Sensational on 02/12/2010 23:52:57
Originally by: Barakkus
They also have some assault rifles that have cameras mounted and a helmet HUD dealie and some other nifty little gadgets that have been in the experimental stages for a while now. Probably see more of them put in combat in the next year or two.
In September 2006, the 4th Battalion, 9th Infantry Regiment trained with and evaluated the LW-SI system. The system successfully completed the assessment, which was based on Joint Capabilities Integration and Development System(JCIDS) guidance, and received testimonials from the unit. However, funding for further system development under the Land Warrior program was suspended in February 2007, although the 4-9 Infantry is currently deployed to Iraq and is using the LW-SI system extensively. This is the final trial phase before the key decision is made on the overall future of wearable soldier systems, including Future Force Warrior. http://en.wikipedia.org/wiki/Land_Warrior
I hope they give them more money, high tech soldiers make for cool video games. I mean have a look at this http://en.wikipedia.org/wiki/XM1219_Armed_Robotic_Vehicle And now this: http://www.youtube.com/watch?v=VhVx3jBXRSY&hd=1
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Riedle
Minmatar Wayne's TV and Appliances
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Posted - 2010.12.03 00:30:00 -
[77]
Quote: You're looking at it the wrong way. It's not the physical money that matters.
Incorrect. Physical money does matter as our banks use a fractional reserve system. The amount of physical money in circulation affects how many loans can be given out etc. It very much matters how much physical money there is
Quote: Yes, the US prints 100's of millions of dollars a day, but at the same time we retire almost as many bills to balance it out.
No, you do not. The money supply has gone up quite a bit in the past few years.
Quote: The strength of the dollar is based on many factors.
Yes but to international money traders the strength of the dollar is based on the perceptoin of the strength if your economy and the fiscal health of your governments.
Quote: Back in the days of the gold standard, every dollar was backed with a physical value. So a countries strength was determined by how much gold it could buy.
Yes, as everyone knows that was stopped in the 1970's.. Congratulations on passing ECON 101.
Quote: Nowadays it's much more abstract. The greatest factor now of determining a nations strength is the national Gross Domestic Product. How much the country makes determines how strong the economy is. You can't just magically create economic strength.
A government can create conditions that affect the strength of the economy negatively or positively. Not sure what you are talking about wrt magic. lol
Quote: It's as if tomorrow the government decided to print and give every citizen a $10,000 bill. So now everyone in the country has this free money burning a hole in their pocket so they all go to Al's car dealership to buy a new sports car. This car normally cost $10,000 (it's an analogy, just go with it), but good ol' honest Al knows that everyone who comes to his dealership now has all this expendable money, so he jacks up the price of the car to $15,000, because he knows that all these people can now afford that. That's called inflation. It's a very simplified example. but you get the idea.
Can you do me a favour and not talk to me about economics like and I am an educated hick?
Quote: And in spite of America having such a large GDP relative to GB, the dollar is still only worth .64 pounds sterling.
Yes, and your point is? lols
Quote: Yes riedle, you are correct. runaway inflation is the worst case long term result. I just brought it up because it is the most extreme and the most recognizable effect.
Of course I am correct but it sounds like you brought it up so you could study for your ECON 101 mid-term next week.
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Riedle
Minmatar Wayne's TV and Appliances
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Posted - 2010.12.03 00:37:00 -
[78]
Quote: Australia and Canada have avoided the large brunt of the global financial crisis because they have more stringent, boring banking regulations. You won't find this being reported in your 'free'(not) western media
Incorrect or at least, incomplete. Canada does have regulations requiring a higher fractional reserve rate than most other nations. But by in large most banks in the western world match what we regulate the banks to have as it is.
The real reason Canada avoided the Mortgage meltdown is twofold:
1) There were no regulations forcing banks to make loans to minorities even if they would not normally qualify for said mortgage (so didn't have a BAD regulation here) 2) Canada did not have zero down mortgages until 2007 I think it was which acted to temper demand of house buying from people who could not afford it. We have since gotten rid of zero-down mirtgages.
So as you can see it was a combination of the absence of bad regulation and having good regulation in the other.
Quote: On the latest GPS show on CNN it started with a brief piece about the religious puritans who where among the first to colonise the USA. As well as there religious views they had a strong work ethic and an ethos of 'deferred expectations'. Which is work hard, do not be greedy and enjoy the fruits of your labour in time. Previous generations of Americans, and Europeans had this ethic. But now with consumerism we think we are better than what we are, we want it now, and what me want is more than before. As well as this being our material outlook it also makes us politically fickle.
More commonly known as the Protestant Work Ethic.
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Dimitryy
Gallente Reikoku IT Alliance
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Posted - 2010.12.03 11:31:00 -
[79]
Originally by: Master Gotama This looks pretty fracking cool...
looks pretty awesome, but i'd have some questions about it. How easy is it to take apart, work with, and then put back in working order? If there is a malfunction with the electronics, will it still work as efficiently as a standard infantry rifle? If the electronics falter, is it within the average individual's ability to fix, or at least replace the faltering piece? Is the logistical ability there to make sure that there are enough spare parts for every rifle? Is it tough enough to withstand the conditions it will have to operate through in the first place? Is that ammunition cheap enough to mass produce without impacting the ability to provide support by volume of fire?
To be honest, if its being deployed to active combat in large numbers, i'm guessing the answer is as close to a yes as you can come. If it makes our guys less likely to catch a bullet, i guess its worth the cost, but i'm looking forward to the first dead bad guys to see how effective the gun really is. ------------------------------------------
Jack Blackstone > Dimitryy I hope you die. |
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