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Re: Just Like in September 2008, Many Investors Fear That a Dangerous Chain Reaction Is Starting on Wall Street

By: micro in 6TH POPE | Recommend this post (0)
Wed, 14 Sep 22 6:09 PM | 25 view(s)
Boardmark this board | 6th Edition Pope Board 		Msg. 35556 of 60008
(This msg. is a reply to 35552 by Fiz)
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People HAVE NEVER LEARNED

to live within their means and NOTspend more than they have available to pay with.

The exceptions would be a home mortgage that someone can actually pay monthly within their means and possibly a car, but that is not critical. One can always buy a very used one if it works..

Americans seem to always get all of their WANTS on credit and do not pay cash for anything. They live ABOVE and beyond their actual means whichis why so many are always in debt..

DEBT is not your friend.. It is a shackle tied around you and holding you back..

If ya ain't got the money to pay for something, do without..

My parents BEAT this into my head.. I have remembered it my entire life.. Dave Ramsey is mamking a fortune off of this concept long after it has been practiced for a long time before he ever started talking about it..

He is a total bore to me.. A Johnny come lately living off of pronciples that were practiced long before him and most of us forgot more than he knows..

Anyway, now ya know what I think of Dave Ramsey.. Not much..Pompous and arrogant and sometimes full of himself..

ANYWAY, a chain reaction could be setting uo but if it is , it is intentionally being fostered by the ones in control.

In order to control the Middle class, you have to wreck them financially.. They haven;t been able to do that beofre but now is a prime opportunity..

Its just my opinion and how I see it so it is worth what you paid for it.. As mnuch as Ramsey's loud mouth advice is.. not much..

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The above is a reply to the following message:
Re: Just Like in September 2008, Many Investors Fear That a Dangerous Chain Reaction Is Starting on Wall Street
By: Fiz in 6TH POPE
Wed, 14 Sep 22 5:25 PM 		Msg. 35552 of 60008

"Secrets of the Temple" is a good book which details the 70s-80s stagflation and Volker (and a few other things; I'd say Plaza Accord) eventually got CPI rates down.

In my humble opinion, they are going to have to get interest rates well over 10% to have much chance of significantly impacting the cascading prices. And I don't have any great faith that even that will work. Why not? Well inflation is a VECTOR of CreditMoney; if you don't understand that, you will almost always miscalculate.

A LOT of money was burned (spent or thown away) to CREATE labor cost cascades and staffing shortages and other WASTES. And THEN to make all the international currencies which feed into the USD-Empire-SWIFT banking system go bonkers. Now the US is making itself look like a clown on the international stage...which doesn't exactly encourage trust...TRUST is the currency which underlies Fiat Currencies. When people don't trust (admire) you, they will look hard for alternatives. 2/3 or more of dollars are OUTSIDE the US banking system... Banking system "quarter point" bumps don't help a lot.

At this time, labor costs keep going up while staffing shortages continue to be unbelievably bad. We used to bring new employees in primarily via temp agencies, since most of our work is unskilled but quite physical (mostly hand speed on a production line). That hasn't produced many good candidates in the last few years, so I am trying to increase mechanization of more processes.

It just seems to me, give the unbelievable and destruction of productive businesses and resources which governments across the world have CREATED by inflation (CreditMoney and faith debasement) that we are nowhere near "payback". And I don't believe you actually get anything for nothing, in the big picture. So, neither physics nor a just God in heaven can be looking too kindly on earthlings and their POS governments right now.

We need justice to set things right. And justice is a long, hard way down.

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