Market breaks 20,000

[Kirkland Laing]

Let's have this discussion when interest rates go up a few percentage points. They will go up and along with Trumps neo liberalism the markets will uncoil and then let's see how it potters along. If nothing happens then I will hold my hands up and say I was wrong. How's that for fair? I have always said the debt mountain hinges on interest rates.

Same out here. Rates are low, but personal debt has gone up 11%. They have no idea how to manage it.

What do you expect to happen?

If interest rates do go up four or five points what does that mean has happened to economic growth?

EDIT: Tomorrow when I have the time I'll explain the debt mountain to you. Too much to deal with today.

[walrus]

Let's have this discussion when interest rates go up a few percentage points. They will go up and along with Trumps neo liberalism the markets will uncoil and then let's see how it potters along. If nothing happens then I will hold my hands up and say I was wrong. How's that for fair? I have always said the debt mountain hinges on interest rates.

Same out here. Rates are low, but personal debt has gone up 11%. They have no idea how to manage it.

What do you expect to happen?

If interest rates do go up four or five points what does that mean has happened to economic growth?

EDIT: Tomorrow when I have the time I'll explain the debt mountain to you. Too much to deal with today.

You don't know shit

[El Kabong]

Let's have this discussion when interest rates go up a few percentage points. They will go up and along with Trumps neo liberalism the markets will uncoil and then let's see how it potters along. If nothing happens then I will hold my hands up and say I was wrong. How's that for fair? I have always said the debt mountain hinges on interest rates.

Same out here. Rates are low, but personal debt has gone up 11%. They have no idea how to manage it.

What do you expect to happen?

If interest rates do go up four or five points what does that mean has happened to economic growth?

EDIT: Tomorrow when I have the time I'll explain the debt mountain to you. Too much to deal with today.

You don't know shit

....and here come the charts and graphs

[vidgil]

Kirkland doesn't believe in a free market, and unfortunately more and more Americans are taking this stance.

[Kirkland Laing]

Kirkland doesn't believe in a free market, and unfortunately more and more Americans are taking this stance.

Trump is the one threatening to use the government to block free trade, the right of firms to employ anybody they want and so on. No free market in goods or labour under Trump. Do you understand what I'm saying? Did you think Trump was a free marketeer?

[Kirkland Laing]

Let's have this discussion when interest rates go up a few percentage points. They will go up and along with Trumps neo liberalism the markets will uncoil and then let's see how it potters along. If nothing happens then I will hold my hands up and say I was wrong. How's that for fair? I have always said the debt mountain hinges on interest rates.

Same out here. Rates are low, but personal debt has gone up 11%. They have no idea how to manage it.

What do you expect to happen?

If interest rates do go up four or five points what does that mean has happened to economic growth?

EDIT: Tomorrow when I have the time I'll explain the debt mountain to you. Too much to deal with today.

Come on then Miles.

[El Kabong]

Kirkland doesn't believe in a free market, and unfortunately more and more Americans are taking this stance.

Trump is the one threatening to use the government to block free trade, the right of firms to employ anybody they want and so on. No free market in goods or labour under Trump. Do you understand what I'm saying? Did you think Trump was a free marketeer?

Do you mean illegal immigrants or non-union folk when you say that......because illegal immigrants are....well, ILLEGAL

[Kirkland Laing]

Sovereign debt Miles.

If you owe a million dollars and your income is ten thousand dollars you have a problem. You're insolvent. You don't make enough money to be able to pay your debts.

If you owe a million dollars and your income is ten million dollars you don't have a problem. You can repay your debt in a year and still have enough left over to get the groceries in.

So looking at how much governments owe and saying ooooooh that's such a lot of money, it's only a matter of time till the government drowns in debt, the currency collapses, we get massive hyperinflation and so on is a bit silly. The amount they owe is irrelevant. It's the amount they owe in relation to their income that matters.

Let's say you want to buy a house. You're in your mid twenties and you and your husband have great jobs as interior decorators and wedding planners respectively. You both go and apply for a mortgage. The bank lending you your money will let you borrow easily three and maybe five times your joint income for a period of twenty five years. They do this knowing you'll also get extra loans during this period for cars, home improvements, having copies of world famous tiaras made and so on.

Governments don't have the same restrictions on borrowing that you do. They're never going to retire so they can borrow over an infinite period of time. They're never going to get sick and be unable to produce income. They're guaranteed to earn an increasing amount of income every year. Most advanced economies are currently running a debt level of around a hundred percent of their income. Less than 20% of the debt level a lot of their citizens are. So they're a much lower risk of defaulting. The people who buy government debt, who are mainly pension fund/fund managers and other financial professionals, are the most sophisticated investors in the world. They know more about debt, credit, returns on investment and earnings than even Korean English teachers, and this is reflected in the disparity between their respective earning capabilities. Currently these investors in the case of most advanced economies are lending buying government debt at a real rate of zero to one percent interest. This is eminently affordable by every government.

But what happens if interest rates go up? What would it mean has happened to economic growth if interest rates go up Miles?

[Kirkland Laing]

Kirkland doesn't believe in a free market, and unfortunately more and more Americans are taking this stance.

Trump is the one threatening to use the government to block free trade, the right of firms to employ anybody they want and so on. No free market in goods or labour under Trump. Do you understand what I'm saying? Did you think Trump was a free marketeer?

Do you mean illegal immigrants or non-union folk when you say that......because illegal immigrants are....well, ILLEGAL

No, I mean legal immigrants and people in foreign people living legally in foreign countries.

[El Kabong]

Kirkland doesn't believe in a free market, and unfortunately more and more Americans are taking this stance.

Trump is the one threatening to use the government to block free trade, the right of firms to employ anybody they want and so on. No free market in goods or labour under Trump. Do you understand what I'm saying? Did you think Trump was a free marketeer?

Do you mean illegal immigrants or non-union folk when you say that......because illegal immigrants are....well, ILLEGAL

No, I mean legal immigrants and people in foreign people living legally in foreign countries.

And you can point to legislation Donald Trump has enacted which has done this?

[Kirkland Laing]

Kirkland doesn't believe in a free market, and unfortunately more and more Americans are taking this stance.

Trump is the one threatening to use the government to block free trade, the right of firms to employ anybody they want and so on. No free market in goods or labour under Trump. Do you understand what I'm saying? Did you think Trump was a free marketeer?

Do you mean illegal immigrants or non-union folk when you say that......because illegal immigrants are....well, ILLEGAL

No, I mean legal immigrants and people in foreign people living legally in foreign countries.

And you can point to legislation Donald Trump has enacted which has done this?

A free market in labour would see no restrictions from the government. Firms could bring in any amount of labour from anywhere in the world in a free market. A free market in good and services would allow goods to be imported and exported from anywhere to anywhere with no tariffs, border adjustment taxes or any other taxes on those goods and services.

Trump is proposing a massive crackdown on both illegal and legal immigration. He's building a fucking wall to keep illegal immigrants out and there's currently a bill in congress to slash legal immigration and visas for foreign skilled workers. He's also proposed various gigantic tariffs, border adjustment taxes and so on and supposedly he's going to produce some protectionist legislation of some sort to restrict trade and send it to congress soon.

He's just trying to work out whether it's a weaker dollar or a stronger dollar that's good for the economy.


WASHINGTON – President Donald Trump was confused about the dollar: Was it a strong one that’s good for the economy? Or a weak one?

So he made a call ― except not to any of the business leaders Trump brought into his administration or even to an old friend from his days in real estate. Instead, he called his national security adviser, retired Lt. Gen. Mike Flynn, according to two sources familiar with Flynn’s accounts of the incident.

Flynn has a long record in counterintelligence but not in macroeconomics. And he told Trump he didn’t know, that it wasn’t his area of expertise, that, perhaps, Trump should ask an economist instead.

Trump was not thrilled with that response ― but that may have been a function of the time of day. Trump had placed the call at 3 a.m., according to one of Flynn’s retellings ― although neither the White House nor Flynn’s office responded to requests for confirmation about that detail.

Read on................

Leaks Suggest Trump's Own Team Is Alarmed By His Conduct | The Huffington Post

I explained this to you recently. Depending on whether that information is still on your little shelf or not Trump is thicker than you are.

[Nameless]

Market deregulation never works middle or long term. ON that side, the School of Chicago is a total failure, we've seen it with F-Mac and F-Mae, in Canada we escaped that problem, though it did hit us, because our bank system is way safer with way more regulations. Remove the rules, people will take more and more very risky shit for the sake of profit... till it goes too far and collapse. Like it always does, when you put forward some conditions to create a "bubble".

[Master]

Kirk is an utter cunt

Warning, please do not use that word in future as it may offend. The poster has not called you any derogatory names so why should you?

[Gandalf]

Government debt isn't so much a problem. They can inflate it away at any time. The personal debt of ordinary people such as those with mortgages is much more of a problem. People default en mass and suddenly you have a crisis as banks are essentially bankrupt anyway. Personal debt is huge and an increase in interest rates guarantees insolvency and bankruptcy. Central banks are stuck in the middle. Rates were too low for too long and debt has mounted much higher.

[walrus]

Kirk is an utter cunt

Warning, please do not use that word in future as it may offend. The poster has not called you any derogatory names so why should you?

Wait a minute I said he didn't know shit I didn't call him that