Biden to cancel $39B in student debt

@wajoma said
Don’t sweat it, I can see the play now, you suckered me pretty good, for a while there I thought we were going to seriously discuss something. But you, like everyone here, myself included is just here because we like the sound of our own keyboards. You lean on the ‘Ctrl’ ‘C’, ‘Ctrl’ ‘V’ a lot more than most but, ya know what they say: “fool me once, fool on you, fool me twice, fool on you.’

Won’t catch me so easily next time. ;^)

Debates typically involve sources that must be referenced. I guess you’re not familiar with how they work.

https://new.debateus.org/debating-evidence-and-evidence-quality

Evidence is anything that can be used to prove an argument (a claim) in a debate.

As noted, in debate, evidence really takes the form of a quotation. That evidence in the quote is testimonial evidence from experts.

@wajoma said
Walt Disney school of economics, rich folk can’t afford to ‘hoard’ money for even a day. It has to be invested otherwise it’s being whittled by the tax know as inflation.

False. Simply keeping money out of circulation creates artificial scarcity that drives up the value of money.

https://en.wikipedia.org/wiki/Hoarding_(economics)

Hoarding in economics refers to the concept of purchasing and storing a large amount of product belonging to a particular market, creating scarcity of that product, and ultimately driving the price of that product up. Commonly hoarded products include assets such as money, gold and public securities, as well as vital goods such as fuel and medicine.

@athousandyoung said
False. Simply keeping money out of circulation creates artificial scarcity that drives up the value of money.

https://en.wikipedia.org/wiki/Hoarding_(economics)

Hoarding in economics refers to the concept of purchasing and storing a large amount of product belonging to a particular market, creating scarcity of that product, and ultimately driving the pri ...[text shortened]... such as money, gold and public securities, as well as vital goods such as fuel and medicine.

Do you know how many US dollars you'd need to hoard to effect money supply, then tell us how much of that would be lost in about 1 minute due to inflation.

Check in with Scrooge McDuck

@wajoma said
Do you know how many US dollars you'd need to hoard to effect money supply, then tell us how much of that would be lost in about 1 minute due to inflation.

Check in with Scrooge McDuck

In Economics, " investment "consists of the additions to the nation's capital stock of buildings, equipment, software, and inventories during a year"[1] or, alternatively, investment spending — "spending on productive physical capital such as machinery and construction of buildings, and on changes to inventories — as part of total spending" on goods and services per year.[2]

https://en.wikipedia.org/wiki/Investment_(macroeconomics)

The rich hardly do any of that (for one thing, capital investment is almost exclusively financed by borrowing); mostly what they do is trade pieces of paper for other pieces of paper.

@no1marauder said
In Economics, " investment "consists of the additions to the nation's capital stock of buildings, equipment, software, and inventories during a year"[1] or, alternatively, investment spending — "spending on productive physical capital such as machinery and construction of buildings, and on changes to inventories — as part of total spending" on goods and services per year ...[text shortened]... vely financed by borrowing); mostly what they do is trade pieces of paper for other pieces of paper.

Yeah, I know they're so dumb, they write a number on a piece of paper say $5000000, they sell that to another rich fella who changes the number to $5500000, and so it goes.

It's all in the Walt Disney comics you blokes use to study economics, at the school of envy.

It's invested, not hoarded. No one with any reasonable amount of money all the way down to Joe Average can afford to hoard money, it has to work.

@wajoma said
Do you know how many US dollars you'd need to hoard to effect money supply, then tell us how much of that would be lost in about 1 minute due to inflation.

Check in with Scrooge McDuck

Elon Musk alone is worth 10% of the total amount of US currency in circulation. Nearly 80 percent of that currency is owned by millionaires and above.

@wajoma said
Yeah, I know they're so dumb, they write a number on a piece of paper say $5000000, they sell that to another rich fella who changes the number to $5500000, and so it goes.

It's all in the Walt Disney comics you blokes use to study economics, at the school of envy.

It's invested, not hoarded. No one with any reasonable amount of money all the way down to Joe Average can afford to hoard money, it has to work.

Billionaires nowadays have unreasonable amounts of money.

@wajoma said
Yeah, I know they're so dumb, they write a number on a piece of paper say $5000000, they sell that to another rich fella who changes the number to $5500000, and so it goes.

It's all in the Walt Disney comics you blokes use to study economics, at the school of envy.

It's invested, not hoarded. No one with any reasonable amount of money all the way down to Joe Average can afford to hoard money, it has to work.

"work" in what way? Not in any constructive economic sense. The rich folks who handed over pieces of paper marked "billions of dollars" for pieces of paper marked "mortgage securities" might have thought they were "investing" but they were actually adding nothing to the economy.

@wajoma said
Walt Disney school of economics, rich folk can’t afford to ‘hoard’ money for even a day. It has to be invested otherwise it’s being whittled by the tax know as inflation.

Do you believe these children understand one bit of what you are saying? They don't know taxes, because they do not pay taxes. And, they do not invest. So they are nonplussed by all that you have to say. Oh, except for 'rich folks---money"....they got that part, they are on their way to my front yard with signs. Not going to give them a cent. May buy my daughter an MG.

@athousandyoung said
Elon Musk alone is worth 10% of the total amount of US currency in circulation. Nearly 80 percent of that currency is owned by millionaires and above.

Tell us what we need to do with Elon?

@no1marauder said
"work" in what way? Not in any constructive economic sense. The rich folks who handed over pieces of paper marked "billions of dollars" for pieces of paper marked "mortgage securities" might have thought they were "investing" but they were actually adding nothing to the economy.

Would you tell your fans, 96% of which work for rich people, that you just said that "the rich folks might have thought they were investing but they were actually adding nothing to the economy."

@athousandyoung said
Billionaires nowadays have unreasonable amounts of money.

Is that you, Bernie?

@athousandyoung said
Billionaires nowadays have unreasonable amounts of money.

That doesn't amount to .0000001% of the money supply. So if they hoard it for 10 minutes they lose way more than they could ever dream of having an effect on money supply. No one hoards that amount of money in the hope of altering the value of the trillions of US dollars in circulation, you'd do well not to hoard your few meagre hundreds either.

And then think about it, let's look at it from your perspective, they hold their few billions in order to drive up the value of the dollar. What then? Hoard it some more?

@no1marauder said
In Economics, " investment "consists of the additions to the nation's capital stock of buildings, equipment, software, and inventories during a year"[1] or, alternatively, investment spending — "spending on productive physical capital such as machinery and construction of buildings, and on changes to inventories — as part of total spending" on goods and services per year ...[text shortened]... vely financed by borrowing); mostly what they do is trade pieces of paper for other pieces of paper.

Lie. plain and simple.. a lie is all you have to fall back on. Even your fans will puke at that one, ,,,,,,,,,,ask them where all of the factories and equipment come from. Who invested in SPACEX, ushering in the era of commercial space flight? oh yeeeaaaahh, forgot about him. An investor!
Marauder, I may write you a PM, getting worried about your losing traction. Funny thing is, a smart guy (I assume that you are, with your Nexis) would not likely pontificate your positions. YOu have got to be a capitalist.

@wajoma said
That doesn't amount to .0000001% of the money supply. So if they hoard it for 10 minutes they lose way more than they could ever dream of having an effect on money supply. No one hoards that amount of money in the hope of altering the value of the trillions of US dollars in circulation, you'd do well not to hoard your few meagre hundreds either.

And then think about it, le ...[text shortened]... ld their few billions in order to drive up the value of the dollar. What then? Hoard it some more?

That is a good point. The money of the rich is a spit in the ocean. THAT is why I keep asking the dependents on this site why they are so obsessed with a few rich people. I bet they give the guy who won $1B lottery yesterday mortal hell!!!!