Crash Course: Chapter 5 – Growth vs. Prosperity & Chapter 6 – What is Money? by Chris Martenson
Chapter 5 (Growth Vs. Prosperity): Contrary to what we’ve grown used to, growth is not the same thing as prosperity. In fact, growth and prosperity are both dependent on the same thing: surplus. Dr. Martenson explains how we’ve been conditioned to want, and to take, both growth and prosperity; however, we are approaching the limits of our physical, finite, earth – the amount of surplus is steadily declining. Chapter 6 (What is Money?): What is a dollar? Sure, it allows us to buy things like food, cars, and iPods; yet, most of us don’t really understand money beyond that. Dr. Martenson not only provides an understandable definition, but also explains what gives our green pieces of paper value, and what dangers any currency must face. www.chrismartenson.com
Crash Course: Chapter 5 – Growth vs. Prosperity & Chapter 6 – What is Money? by Chris Martenson
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I actually tried to clean my? monitor because of that water mark on the bottom left
End the? fed!!!!
@stocktradinginvestor LOL! I am sorry I am arguing with everyone and their mom! I am loosing it Apologies you have a similar name with some tool! I don’t? know what I am disagreeing with you on. SIgh! I reread everything you wrote. Gold is not a storage of money Austerity, doesn’t work, When the Markets take a shit I think the EZ will Print their ass off. Yes our economy is not an Island correct we will be hurt if EZ goes. But less than anyone else IMO. Again sorry dude
@Minethis1 I am the one that said gold is not a storage of value and now you are repeating it in the same sentence you say you disagree with me? Of course it’s meant to spend,? hence a “medium of exchange” like I said earlier. If you just want to argue like a retard against someone who agrees with you go to Occupy Wallstreet with the rest of the vagrants who defecate on cop cars and fornicate in public.
@Minethis1 gold was? also $162 in 1869 and only $35 in the 1960s! And Rome fell using Gold! When did you ever see me telling people to buy gold? Are you mentally ill? The Euro Will Fail, which will make our currency stronger, yes, for the time being, no doubt that’s very possible if not likely. Who the hell are you arguing against?
@Minethis1 lol, either you aren’t reading what I am saying, or you are replying to the wrong person. I don’t know how you can disagree 100% when I agree with more than half of what you say. Gold is not a store of value, you say. I never said differently. You seem to think printing is better than austerity. I never said differently! I said I agree with many of your? points. Apparently you disagree my agreement of you and disagree with yourself!
stocktradinginvestor Let me ask you. Did CM tell you that those who bought gold in the 80s are down 75% inflation adjusted even with this most recent 10 year move? Maybe in about 45 years those people will? make their money back! Great store of money eh? I am telling you right here right now. THS USD will not fail. IF E does not print their ass off the EUR Will fail.Making our Currency EVEN Stronger. While our markets get crushed! as EZ is 22% of our exports. Printing = confidence!
@stocktradinginvestor Listen I disagree 100% with everything you say. A Currency is only a lubricant that has absolutely no value. It only defines value in a snap shot in time. Why a snap shot in time? Coke 1920 .10 cents income $100 Coke today $1.income $1000. The Ratio is the same .001 of income NOTHING CHANGED!? People like you don’t understand money. You try to make it valuable when it’s not designed to be so. It’s meant to be SPEND! Thats why most don’t Ever make Money!
@stocktradinginvestor *when I said ‘as was 1929-1930′ I mean that the domestic economy in the US triggered instability which lead to the sovereign debt crisis which did not really hit until 1931. But the crash/panic of 29 certainly created weak conditions that left the economy vulnerable to the GLOBAL CONTAGION that further compounded the problem. I do side with many of your points, and? do not advocate a ‘cut and run’ approach in the given conditions.
@Minethis1 The Sovereign Debt Crisis began in Austria in 1931. Then fear hits and capital floods out of where it is weak. In theory the domestic economy can be controlled internally. In real life, the whole is not the sum of it’s parts. The collapse need NOT be some local event. If the catalyst? can be external, that means we may NOT be able to prevent the spillover of GLOBAL CONTAGION. The bottom line — we are NOT in control of the domestic economy as economists and politicians presume.
@Minethis1 I am not claiming “medicine” is austerity, you misunderstand. I do not think a gold standard is the solution as dealing with the previous debts will be very problematic as history has shown (see the euro as well as Andew Hamilton and first central bank of the US). The ECB doesn’t have an elastic money supply and that is a bigger? issue that requires a lot of printing just to keep up. But this is a sovereign debt crisis, as was 1929-1930.
@stocktradinginvestor Growth has to exceed debt. This is not hard for us figure out. The question is how? 1 housing will bottom. 2 population is growing steadily 9 million more Americans today than 4 years ago. Capacity utilization is in the low 60% We got a lot of room to increase production and growth. Jobs, Debt reduction can only come from consumption. as crazy as it sounds we need more Liquidity to increase velocity and start growing again.Only way to reduce? debt ratio
@stocktradinginvestor Part 2 You can’t have growth until debt is paid down. Well how can debt be paid down if you you are removing the medium of exchange (money/credit) via Austerity, savings debt reduction all at the same time? Not possible! Because it contracts the economy, unemployment skyrockets, causing further defaults, more loss of? capital, higher deficits until the collapse. Thats why I am telling you you all have the wrong diagnosis and your medicine KILLS The Patient! ?
@stocktradinginvestor Part 2 You worry about exporting little pieces of paper with our presidents faces on it which we can create all day long in exchange for limited tangible resources from other countries? The US produces 87% of everything we need. Why consume ours? when we can take it from others in exchange for pieces of paper and keep our resources? Isn’t that far better and smarter? Think about it.
@stocktradinginvestor Let me try to give you a few different prospective. 1 Do you think? this conversation didn’t take place in 1930′s? If I would have told them a can of coke would cost them 10 times more $1 today the would have jumped off the empire state building and sliced their throats on the way down! Why? Because they never asked what would my income be? What will the GDP be then? look at stocks that issue more shares. Often they take that money and create more value
@stocktradinginvestor I am telling you right here right now. There is no economic Text book that talks about a balance sheet recession. Because it assumes that the entity is insolvent therefore it cannot exist. But this is the situation we are in worldwide today! Only way out of it is to grow, inflate and it takes Time! If we impose Austerity, Save, Pay down debt we collapse. Period end of story! There is 21 trillion of debt imbalance Globally today and need Growth. Part? 2
@Minethis1 Stagflation never occurred in “theory” because in theory it was an “island economy”. In reality there is a lot of exchange of capital that results in capital flowing in and out of certain areas, and sometimes back. So what happens if internationally the world is drowning in dollars, and the US is drowning in DEBT without enough cash to pay? it off? Contrary to theory, we cannot borrow forever with this type of money management.
@Minethis1 The issue I have is while we always try to issue enough new debt to cover the old, is that a lot of this is issued to foreign creditors and central reserve banks in other parts of the world. 40% of the debt now goes to foreign creditors and it’s growing. How do you stimulate a domestic economy that has old debt to pay with new debt if the money is going to pay off perpetually higher interest to foreigners, and if the so much of this nation’s money flows OUT of this? country?Stagflation
@bitcoinsrule Gold can lose value. So can anything. Identifying value is what trade is about. However, I think the safest thing to do with your money in any climate? to protect it from inflation is buying the things you intend to buy in the future now. Buying non perishable food in bulk for example will give you an immediate discount, protect you against food shortages, loss of value of currency and inflation, and because of the discount for buying in bulk, limited protection against deflation.
@bitcoinsrule Gold has? gained and lost a lot of value based on both confidence and supply. For example, people were not very confident in what gold was near fall of Roman empire because there were many counterfeit coins cast from gold painted lead, so even when there was real gold, it did not retain it’s value because of confidence. 1980 to 2000 gold lost 70% of it’s value from the peak even as US government expanded money supply 3 fold.The price and value of everything changes .