Does this ring true?

[dneal]

It does for me. It's the part of Bernie's message that resonates (although the below isn't from Bernie), and appealed to a great deal of voters.

-----------------------------------

Every time there’s a financial collapse, it’s done by an organized, thought-through effort of the financial and corporate elites. When it collapsed, the Federal Reserve didn’t call all the financial institutions together and corporations and say: “Hey, boys, we’ve got a problem, right? This is a problem, and we need to pass the hat. You’ve got to cough up some cash.”

That trillion dollars was from the taxpayer. They hit “print,” right? But the guy who’s going to pay for it is the little guy.

We live in neofeudalism. This is not capitalism. This is where you have an underclass, right, a Lumpenproletariat almost that’s taken care of by the state; you have the very wealthy; and you have this kind of neofeudalist working class and middle class that pays for everything, and the guys at the top who have socialized the risk, that trillion dollars of infusion.

When a guy like Bernanke walks in and says, “I need a trillion dollars,” you don’t have time to debate. History’s going to look at you. When he says, “The American financial system’s going to collapse in 72 hours and the world financial system two days after that, and you’re going to have global anarchy,”

When they come in and ask for the first trillion in an emergency, I believe you have to say: “OK, we’ve got to do it.

But remember, that’s the first trillion. We kept on for another $3.5 trillion. This is just bailing out the people that caused the problems. Goldman Sachs didn’t lose any equity. None of the partners really missed any bonus payments. GE’s still in business, AIG. It all still exists.

The reverse side of this, remember, there is a corollary to this that’s quite powerful. And we know from the notes of the Federal Reserve, a guy named Richard Fisher, the governor—
the president of the Federal Reserve of Dallas, argued this in the room constantly. He said by doing this quantitative easing, which you’re just flooding the zone with liquidity, we will save the institutions, and we will save anybody that’s a big real estate holder or hedge fund or bank.

But he said, there’s a huge reverse here. Number one, savings accounts are going to go to zero-interest rates. Savings accounts are going to go to zero. So 5,000 years of the Western tradition, which is be a good householder, get a wife, get a mortgage, get some kids, and you save your money.

Well, now, if you save money, you’re a sucker, because it’s broken the trust. That’s the trust that’s broken. If you save money, you’re a jerk because you’re not going to get any interest paid. In fact, the bank’s going to charge you. So you can’t put money away to save into the system.

Number two, the pension funds. The pensions funds are going to be destroyed. Today we have a $9.5 trillion gap between the obligations of the pension funds and what we’ve earned off the pension funds. Why? Because it went to zero-interest rates, and the bonds they can buy have no juice in them. right? Even communities that are not leveraged can’t issue bonds because there’s no juice in the bonds, because of negative interest rates. We’ve essentially put the burden of the bailout on the working class and middle class.
That’s why nobody owns anything. But the millennials today are nothing but 19th-century Russian serfs. They’re better fed; they’re better clothed; they’re in better shape; they have more information than anybody in the world at any point in time, but they don’t own anything.
They’re not going to own anything, OK? And they’re 20%—if you mark in time against their parents, they’re 20% behind in their income, and there’s no pension plan in the future. They’re all gig economy.

We’ve literally destroyed the middle class in this country. And both political parties, by the way, this is not about Republicans and Democrats. This is the way the system works, and this is the way the system comes together to protect itself and to move itself forward.

[dneal]

One part of the writer's comments struck me as particularly prescient.


That’s why nobody owns anything. But the millennials today are nothing but 19th-century Russian serfs. They’re better fed; they’re better clothed; they’re in better shape; they have more information than anybody in the world at any point in time, but they don’t own anything.
They’re not going to own anything, OK? And they’re 20%—if you mark in time against their parents, they’re 20% behind in their income, and there’s no pension plan in the future. They’re all gig economy.

This seems to be an alternate viewpoint of Klaus Schwab and his World Economic Forum's "Great Reset" prediction that "You'll own nothing, and you'll be happy".

Is this the world you want for your children or grandchildren?

[Chuck Naill]

First thoughts are that African Americans have been serfs for a long time. They don’t own anything and haven’t before.

Secondly, families pass down wealth, pay for education, and help sustain the next generation until they can make it on their own.

Thirdly, educational debt is a surge on us all. It effects almost every market.

Fourthly, I didn’t own anything when I was 20-30. I paid 12% mortgage interest on my first house circa 1979. At that time, savings accounts and savings and loans were paying double digit interest on a CD. I’ve never received an inheritance nor had a pension.

Lastly, it is debt and the inability to get out of debt that destroys. Unregulated capitalism, that Reagan ushered in is partly to blame for out current conditions. Trumps tax reform didn’t help the middle class,’but the wealthy .

[dneal]

I'm not clear if you have answered the question though. Does the gist of the piece ring true with you? That the "elites" continue to broker the system to their advantage at the expense of the middle and lower classes? That future generations will not have the same economic opportunity as previous generations?

[Chuck Naill]

It does not ring true. There will always be an Ivanka or a Jered that benefit from family wealth, but opportunities continue to exist.

Plus, I don't subscribe to using elites for a reason why the system is against our children and grandchildren. It can be a crutch. Persistence and determination often is the key to a great life. Certainly the 1970’s were a difficult time to be starting out. We survived and thrived by being willing to adapt and self reinventing ourselves .

[Chuck Naill]

So, to complete a nurse practitioner degree from one of the most affordable universities is $24k per semester. What could possibly justify?

If we have a nursing shortage, but some are blocked because of tuition, is it the elites or the availability of debt?

Change the system.

[dneal]

This isn't about African Americans, Ivanka, Reagan, or your personal history.

The piece centers on crony capitalism, taxpayer bailouts, and printing of money being things that negatively affect the lower and middle classes. It points out that "elites" (investment bankers, etc...) are more inclined to engage in practices that lead to short-term gains with long-term risk, when they can persuade government (whose income comes from the taxpayer) to cover that risk.

Is that something you disagree with - i.e. something that does not ring true?

[Chuck Naill]

You’re not looking for a discussion, but a confirmation of your bias. I’m done.

[dneal]

I’m merely asking you about the topic posted, instead of the separate issues you introduce. Many of them are worthy of their own threads.

This topic is non partisan, and points out that both parties are complicit.

[Chuck Naill]

Is this your definition of crony capitalism?
“Crony capitalism, sometimes called Cronyism, is an economic system in which businesses thrive not as a result of free enterprise, but rather as a return on money amassed through collusion between a business class and the political class.”

[dneal]

Not my definition, but that suffices. The collusion of business and political classes is the key tenant.

[Chuck Naill]

It’s nothing I notice that prevents success.

[Chip]

Not my definition, but that suffices. The collusion of business and political classes is the key tenant.

ten·et | ˈtenət |
noun
a principle or belief, especially one of the main principles of a religion or philosophy: the tenets of a democratic society.

That's your lesson for today.

[dneal]

*yawn*

Take it up with Apple’s auto correct.

[Chip]

You can switch that off. I've never used any autocorrect stuff. Distracting.

Do you bother to read your things before you post them?

[dneal]

Do you intend to address the topic?

[Chuck Naill]

This is the former Federal Reserve Chairman. I felt that a look back, when some of us were at the same stage as Millennials might ring true. In 1980 I had too much debt and interest rates were soaring.
At the time I didn't see a way out, but I kept trying.

https://www.nytimes.com/2022/06/14/opinion/inflation-stagflation-economy.html?unlocked_article_code=AAAAAAAAAAAAAAA ACEIPuomT1JKd6J17Vw1cRCfTTMQmqxCdw_PIxftm3iWka3DLD m8eiOMNAo6B_EGKZKxtY9Iv3jOdAcRdObAhQPVuz-hZekFmTA-vp4rCmIgAJ299j7OPaV4M_sCHW6Eko3itZ3OlKex7yfru5E6PP jS-WLjU1SEmOAo09pJ6Jlug0WgDlqiWFOJ12tB6jvsxF9stE2d7ES qJvvPuDxt1O9-UPFqLukRtBbYvCXyElsWc6rkAbAxWFVrAKXt-6ms949tXU8gFaOe9d1VzPZqj3shCTzBgP4yrBJYuRobLl7gMsb TFrBaEyMre1Oybvxgko8XTcTYpDCIyW7Fk&smid=url-share

[Chip]

Do you intend to address the topic?

First, you don't cite the source of the statement in the OP, some of which is sound and some not so.

Second, the bit about savings accounts being worthless isn't true. Our free checking account at a credit union pays 2.5% up to $15,000. A couple 36-month CDs earned a cumulative 9% on maturity.

So the propagandist who wrote the piece should find a better place to bank, and tone down the lamentations.

Note: I like threads that swerve and wander. You like a stiff trudge down a narrow path (to the beat of a drum.)

[dneal]

Does the source matter? or is it that you just can't google some "shoot the messenger" article and avoid the topic.

I'll help you out though. The theme of the topic is corporate elites being bailed out by politicians at the expense of the taxpayer, and the economic environment created by quantitative easing. Interest rates change. Your "correction" will be incorrect in 6 months.

Your "swerve and wander" seems more an excuse for drive-by rhetoric. The question become whether or not that's all you're capable of.

[Chip]

The source matters.

Go watch YouTube videos and take your pills.

[Chuck Naill]

Based on recent posts, YouTube has replaced the public library system.

While I can understand watching a couple of videos and f you need to change out a taillight in a 1995 Suburban, I do not think it’s a substitute or an objective source.

[Lloyd]

Based on recent posts, YouTube has replaced the public library system.

While I can understand watching a couple of videos and f you need to change out a taillight in a 1995 Suburban, I do not think it’s a substitute or an objective source.
Sadly, books are seldom unbiased, too.

Typos courtesy of Samsung Auto-Incorrect™

[dneal]

If you just watch cat videos on YouTube, it seems that Chuck would be correct.

If you watch an hour long discussion or interview with a credentialed expert, is it any different than watching a PBS special? Take the 80's Milton Friedman series Free to Choose. They were first broadcast on PBS. Are you saying, Chuck, they lose value if you watch them via an internet stream rather than radio waves?

At the end of the day, it's kind of a specious argument that confuses content with medium.

[Chuck Naill]

If you just watch cat videos on YouTube, it seems that Chuck would be correct.

If you watch an hour long discussion or interview with a credentialed expert, is it any different than watching a PBS special? Take the 80's Milton Friedman series Free to Choose. They were first broadcast on PBS. Are you saying, Chuck, they lose value if you watch them via an internet stream rather than radio waves?

At the end of the day, it's kind of a specious argument that confuses content with medium.

There is no confusion on my part, @dneal.

I am saying that watching or listening is not to be confused with peer reviewed information and the rigor of research, @dneal. The context of the video is young male mass killers. While there may be an issue with boys today, what you posted is not a definitive source.

I am also thinking of your past postings with videos from politics to COVID. Posting videos is the surge that has been brought upon us by FB.

[dneal]

Chuck, there are no definitive sources on humanity.

[Chuck Naill]

Chuck, there are no definitive sources on humanity.

And that means????? ROTFLMAO!!!!!!!!!:fuck:

Can't believe you posted that!!

[dneal]

Chuck, there are no definitive sources on humanity.

And that means????? ROTFLMAO!!!!!!!!!:fuck:

Can't believe you posted that!!

I'll ignore the "meaningful" part of this post, and respond to the underlying issue.

Agree with them or not, both Jordan Peterson and Warren Farrell, for example, are credentialed and credible, with decades of research and teaching. You appear to require a "definitive" source.


what you posted is not a definitive source.

The meaning of "definitive" in this context is:

Supplying or being a final settlement or decision; conclusive: synonym: decisive.

So I repeat, there are no definitive sources on humanity. We learn, and it evolves.

What does the peer-reviewed science say about the benefits or harms to a human on something as simple as consuming eggs? Is it definitive? Was it previously definitive?

One can listen to credible sources and form an opinion. One can listen to alternate credible sources, and form a different opinion. One perhaps should continue to listen to credible sources and continue to revise an opinion in light of new information.

One should also be skeptical, and learn to think critically on what credible sources say. Peterson seems to espouse Jung and Jungian archetypes. I see the utility of the latter, but discount the theory of the former.

Similarly, I listen to various credible sources on COVID. No one is a definitive source. Dr. Jay Bhattacharya, Dr. Martin Kulldorff and Dr. Sunetra Gupta are leading epidemiologists from Stanford, Harvard and Oxford (respectively). Dr. Bhattacharya also earned a Ph.D. in economics.

One may credit or discount their opinions. They're certainly credible and credentialed. If those who disagree do it with science and rational argument, it's worthwhile to entertain those competing views. If they do it with "devastating public takedowns", they're simply admitting they have no science nor rational argument.

[Chuck Naill]

Look, a definitive source is verifiable and anyone having done research and produced that work well understands. .

And, context is essential.

Posting videos and photos is neither, but it’s what you do routinely. It is also how some of you mislead. Sometimes by discrediting someone with which you don’t agree or more often posting a video that says something you prefer. Doesn’t matter to me, but it doesn’t make you appear more informative.

[dneal]

Chuck, if we can't agree on the dictionary definition of "definitive", I don't think there's anything else to say.

I don't "mislead". I simply present evidence. Videos are one foundation for a discussion, as are articles, books, movies and all sorts of media. Whether or not the information is credible or persuasive depends on a person's own effort toward evaluation and investigation.

You're free to evaluate what I present, or not. It does seem curious that you often claim to not watch or read what I share, so I don't understanding why you're complaining about verifiability or context when you do not watch or read in the first place.

[Chuck Naill]

Posting videos is lazy.

[Chuck Naill]

We live in a time of misinformation. For members to post unverified or partial information is a disservice.

[dneal]

Chuck, you’re losing your composure it seems. Perhaps a break would help you regain it and collect your thoughts.

[Chuck Naill]

Come on man. Are you gong to resort to personal stuff: man up

[Chuck Naill]

Of course your are🤭🤭😂😂😂

[Empty_of_Clouds]

[22.1006-1006/54.18.6]

data captured

archived

estimate over 50% responses from response-creator self-labelled dneal contain negative personal comment

data trawling for accuracy of calculation

priority low

pending

[dneal]

70696

[Empty_of_Clouds]

[22.1039-1040/55.18.6]

image analysed

archived

reference organic fictional motion picture labelled /wargames/

context mismatch

life is not a game

the only way /not/ to play is not to exist

data indicates use of image acceptable medium of information exchange

https://i.imgur.com/S8yxlwZm.jpg

[Chuck Naill]

Drunk post

[Lloyd]

Drunk post
Reading most of the posts here can certainly lead one to want to get drunk.

Typos courtesy of Samsung Auto-Incorrect™