Economic Education: Get Some!

My pronouns are (He-Man), if anyone was asking.

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Inflation on raw materials has gotten so bad on some things - it is unreal. Due to shipping and shortages and MONEY PRINTING.

Soap base is 3.5X what it was a year ago.

Racing fuel is 3X what it was a year ago.

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My pronouns are Invincible and Mother Fucker.

I ride the nuclear wave and nobody can stop me.

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Helluva drug I hear.

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I prefer Lord and Master, in that order exclusively.

My pronouns are “I”, “me”, and “mine”. If I am using any other pronouns I am not talking about myself (singularly).
In a group I might use “we”, “us” and “our”

When people use other pronouns concerning themselves I question their sanity.

You heard correct. Just don’t mind the voices in your head from the other side.

I don’t question my sanity because I never had it.

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Metaphorically speaking, No. Its a little more complicated than that. There are some legal documents and whatnot to sign.

That would be me. But its ok. I have everybodys best interests in mind.

Sure, we accept all forms of crypto-currency. The accountan…My silent partner handles all of those details.

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Ahhh no it is a recognition and a preemptive strike against potential inflation Trying to deal with it prior rather than after.

It does not minimize concerns with inflation. It tries to deal with inflation prior to it happening. Rather than chase after it after it has already happened.

False. Real resources are the constraint not money. If the real resources are produced no inflation would arise.

You forgot price gouging. But hey it’s all good. They are just trying to make another buck. Nothing wrong with that objective.

Yes, yours is.

Yes this would be a miss if this was on a business but they, for the most part, are government insured loans and the federal government doesn’t need revenue.

Who do we owe debt to denominated in another countries currency?
And why would we have reduced output?
Don’t have enough taxes to support our debt? Is this what taxes are for?

When you drop your presumptuous ideas about how the federal governments budget works like a personal budget, you can then begin to understand. Until then you’ll never understand.

No. Federal taxes pay for nothing. The money that has been sent to Ukraine had the votes, so then the money was created. If you got the votes, you got the money.

What, let people know you are nothing more than an ignorant fool. You ought to stop for your own sake.

There’s an economic cycle, she pointed out in the lecture: Congress authorizes a budget. The president signs it. Federal agencies are told how much money they have to spend, and they begin spending it. People receive income as a result of the government spending, on which they pay taxes, and which they can use to buy government bonds, thereby increasing the national debt.

Taxes have other functions too, she noted: to redistribute wealth, to influence some behaviors (like tax incentives for “going green”) and disincentivize others (e.g., taxes on tobacco). Also, taxes are important revenue for state and local governments, which are not currency issuers and definitely can go broke.

I also asked Kelton why, if sovereign currency issuers can’t go broke, have so many European and South American governments teetered on the brink of insolvency in recent years?

Answer: A country “can always pay any obligation that comes due in its own currency. But it can get into trouble when it borrows in currencies it does not control. Argentina and Venezuela borrowed U.S. dollars, Italy borrowed euros, etc. It’s the same reason Detroit and Puerto Rico are in trouble: they’re currency users, not currency issuers.”

One thing a country should absolutely not do, according to Kelton, is aggressively try to pay down its debt. “Here’s a historical lesson,” she said. There have been seven times in U.S. history when the government ran surpluses and commenced paying down debt. Each time, the result was a severe recession or a depression.

Referring to the most recent such occasion, when the government was running a surplus in the latter days of the Clinton Administration and began to pay down debt, “look what happened to the private sector’s financial position. It went deeply into the red.”

Households in effect borrowed too much money on the back of the dot-com bubble and then the housing bubble. But that didn’t and couldn’t last: deficit spending isn’t sustainable when households are doing it. But it’s perfectly sustainable, for decades or centuries, when it’s the federal government that’s running up debt.

So, Kelton concluded, what can we afford? When Bernie Sanders was putting forth his aggressive economic agenda — a trillion bucks for infrastructure, free college tuition for all, Medicare for all — his opponent, Hillary Clinton, was calling it fantastical and out of reach, Kelton recalled.

“In D.C., there is a great deal of pressure to pay for things,” she said. “I wish we were having a very different kind of national debate. There’s nothing to prevent the federal government from creating as much money as it wants and paying it to someone.”

https://www.jobs.irs.gov/resources/job-descriptions/irs-criminal-investigation-special-agent

Key Requirements

  • Be a U.S. citizen
  • Be 21 years of age by the time that you complete the training academy and no older than 37 years of age at time of appointment.
  • Qualify based on education, specialized experience, or a combination of the two.
  • Possess a valid driver’s license.
  • Pass a background and criminal history record check.
  • Pass a pre-employment medical exam.
  • Pass a pre-employment drug test.
  • Pass a pre-employment tax examination.
  • Be legally allowed to carry a firearm.

They are not price gouging because I have seen their raw material increase and shipping increase. Their profit margin has not changed. You would know this, if you were actually running a business purchasing things.

Oh wait.

Yeah, because that is how it works in a Co-op.

“Co-op” .

Subtle but Important difference.

What did I miss though?