29 Jul 14
Originally posted by EladarWell, to be fair, a lot of this is because people in the United States have permitted the Federal Reserve to devalue the dollar. People really don't understand the insidiousness of the Fed.
[b]The inflation-adjusted net worth for the typical household was $87,992 in 2003. Ten years later, it was only $56,335, or a 36 percent decline, according to a study financed by the Russell Sage Foundation.
http://www.nytimes.com/2014/07/27/business/the-typical-household-now-worth-a-third-less.html?_r=0
This is Obama's dream! Keep Americans poor ...[text shortened]... ot all?
Bringing in large number of 3rd world citizens is only going to make things better![/b]
29 Jul 14
Originally posted by finneganYou basically just gave the 3x5 index card summary of The Creature From Jekyll Island.
The problem was unsustainable private debt. Banks were not solvent because they had loaned vast sums to people unlikely ever to repay them, then concealed bad debts in complex financial bundles like the English chicken industry does with campylobacter.
Giving the banks more money for their reserves meant that, despite vast amounts of worthless debt on ...[text shortened]... y not been realized. Obama has been made into a fool by his reliance on conservative economists.
29 Jul 14
Originally posted by KazetNagorraWhy should I be required to apply 'critical thinking' when you do not? Perhaps you can site the resources that debunk what I said. It needs to be a credible source that I would consider credible.
Well, you could also try convincing yourself before coming to conclusions. It's called "critical thinking."
29 Jul 14
Originally posted by sasquatch672Why hasn't this "devaluation" lead to inflation, and wouldn't you expect, if a currency is devalued, that property prices increase?
Well, to be fair, a lot of this is because people in the United States have permitted the Federal Reserve to devalue the dollar. People really don't understand the insidiousness of the Fed.
29 Jul 14
Originally posted by KazetNagorraAs is yours. As common with hypocrites you think I need to provide you with evidence that you believe, but you do not feel you need to provide me with evidence that I believe.
Your right to hold opinions without defending them is not disputed.
29 Jul 14
Originally posted by EladarThat is a bizarre demand. Whether or not you believe evidence is not a test of the quality of evidence, just a reflection of your personal and not terribly impressive judgement. The only evidence that will convince you is evidence that confirms your preexisting opinions and that's a tall order.
As is yours. As common with hypocrites you think I need to provide you with evidence that you believe, but you do not feel you need to provide me with evidence that I believe.
29 Jul 14
Originally posted by EladarWell, the article you yourself cited in the OP gives an alternative explanation for the decrease in net worth, and it's one that makes a lot more sense. But I can understand reading an article beyond its headline can be quite the burden for someone with limited mental capabilities.
As is yours. As common with hypocrites you think I need to provide you with evidence that you believe, but you do not feel you need to provide me with evidence that I believe.
29 Jul 14
Originally posted by finneganYeah, well as long as people have different sources of authority, not discussion is valid.
That is a bizarre demand. Whether or not you believe evidence is not a test of the quality of evidence, just a reflection of your personal and not terribly impressive judgement. The only evidence that will convince you is evidence that confirms your preexisting opinions and that's a tall order.
29 Jul 14
Originally posted by KazetNagorraI know you are quite impressed by what other people say, as long as it is published. I've seen that in other threads too. I'm not surprised since you have been trained to believe authority blindly. It is the nature of those raised in nanny states.
Well, the article you yourself cited in the OP gives an alternative explanation for the decrease in net worth, and it's one that makes a lot more sense. But I can understand reading an article beyond its headline can be quite the burden for someone with limited mental capabilities.