You blow more than Trump and Canada still has always had higher fuel prices..

Empty wind I guess???

No just higher taxes.

I've never thought much about that but.........even after 1913 we still were in a very productive stage of our development. Still in the industrial revolution to some degree...so we did have an economy that produced consumer goods even with a debt based system.

But I can sort of see where you're coming from. Even "goods based" economies need consumers to consume and service industries to provide things like accounting, transport, marketing etc.

Where I think debt has had a big impact is in the arena of taxation. Before capital gains taxes evolved it was much easier to build capital. Essentially, once taxation began...other than tariffs..... a business was in competition with government.. But what isn't always evident is that when government borrows, it makes it harder and more expensive for business to borrow because they are competing for the same funding

The more money that government borrows, the more they have to confiscate from business to service that debt. We know that. But what isn't always evident is that when government borrows, it makes it harder and more expensive for business to borrow because they are competing for the same funding that government wants. The usual result is that the cost of borrowing goes up or becomes unavailable to business. Government has no such restrictions because they have the power to tax.

Not sure I am even addressing what you are asking.

Yeah I think a guy could get by on 2 million depending on his age, where he lives, his health, and his ability to stay invested to generate income. AND.....that the rules aren't changed by government in the middle of the game

Saw on NewsMax just this morning his press secretary saying the economy is the best it's ever been.
Really? With inflation at 9.1%? She added this doesn't even take into account the lower gas prices at the pump.

BTW, for the non-Trumpers: when he left office inflation was at 1.4%

Yes and go to work everyday to be reminded what he could of had !!!You missed my point wasn't that he couldn't protect what he still has !! It's that he could have gotten out with 650,000 more

If only we all listened to jbyrd....

Genius, and we didn't know it.

Why thank you . Proof shows up everyday LOL !!!!

Your kind of thinking shows up every morning
I pull the handle and whoosh, it's gone. Lol Lol Lol

Well looks like Saudi Arabia is going to join BRICS. Biden better hope he's got his talking points down when he visits there this week.

The birth of the Petroyuan.

I'm glad I have a big garden, some cows and chickens, and really good neighbors. Silver is down again today, be good to have some on hand when the lights go out. I can't imagine what will happen if the petrodollar is done away with for the people in this country not self-reliant. This government will start a war before that, but this time it may not do any good IMO.

We need Trump back.[/quote]


Don’t get me wrong the Biden crew is worthless but Trump and company started all this with the stimulus checks,ppp loans (giveaways)and lucrative unemployment payments. Just sayin.

This started before Trump bit he helped it along quite a bit.

If anyone remembers he was PO'd when the FED raised rates and thought they should be cut to negative territory. Said it would be a good thing.

There are two ways products or production become unprofitable. In this case we can use oil. The price can be so low that there is little profit or money for expansion etc. Or it can be so high that user need to find alternatives.

The governments of the world find all sorts of ways politically and economically to facilitate research and or subsidies to reflect their better interests. It will be the private sector that will drive the major changes in almost any and all product development. We on here many times argue about 40 million here or a couple billion there etc. There several hundred trillion dollars in the world and many of those dollars are in search of the next highly profitable venture and if they can get even half the years that many of our major ventures have now they will make even bigger fortunes. The major questions is will our world cultures benefit from these potential major changes in production? We need to find very profitable production systems that still need to hire lots of workers. In the developed countries we have used high investments in captial (money and machines) to minimize labor. That at this time is not a huge issue for most of the developed countries but it sure can be for the 5 billion or so that live in lower economically developed nations where the influx of capital can replace many, many more workers.

Bryce

I'd take the 70s fur prices today.

We have only been on a true debt-based system since 1971. If we were still on gold standard, at least for foreign trade things would look much different.



I am not even sure what I am asking lol, just trying to stir conversation. My gut tells me that the true measure of the wealth of a nation is how it uses its natural resources and labor to create real tangible lasting things. I think a fiat system requires and promotes high consumerism, large social spending and an inordinate amount of military spending. It blows my mind that the supposed party of peace IE the Democrats approved a budget with record military spending. Oh, wait, no it doesn't because they have become a party of war.

My comment of retiring on a couple of million was meant for someone else. All things being equal a couple million at 65 in a retirement account would be adequate if invested in a "safe" account. 4 percent draw coupled with social security, personal savings and a spouse would be more than adequate. Of course, that means all things being equal.

I think we need a 20 page thread of you and white just talking amongst yourselves about this stuff, lol.

Yes. I think Bryce addressed that pretty well above here.

There is really no NEW wealth added to the economy unless we are actually producing something that didn't exist before. Activities like logging, mining, building planes and machine tools etc. actually add wealth. Service types of activities only move dollars from one pocket to another. Nothing is created.

Of course the bigger problem IMO is that for every economic transaction that takes place, government, at some level, takes a bite while producing absolutely nothing. An absolute Ponzi scheme.

Gubmint needs more every year so they just add another tax. Isn't that easy for the citizen.