The use of cryptocurrency is has increase over the years as many people now see crypto as an alternative to the fiat. My question is if the government legalize cryptocurrencies are means of payment, what will be the implications on the global economy?
There isn't a global authority that cracks down on crypto usage, and most countries today with large economies already allow crypto as a means of payment. Bitcoin is already a portion of the global economy, albeit not very large compared with other assets. My question is if the government legalize cryptocurrencies are means of payment, what will be the implications on the global economy?
Governments already have CBDC and they will be much more amenable to rejecting cryptocurrencies that are beyond their reach. Because governments don't want to take further risks when control is not with them. The government owns the banks and the position of the banks is not to like cryptocurrencies at all which always makes them lose the profits from the taxes created. The habit of escaping taxes to crypto is the only thing that has until now been the reason why CBDC was created. CBDC's aren't in mainstream usage right now, they're not a factor that's contributable to a country's economy that I've seen, and they're certainly not a player in the global economy. |
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I'm critical of the U.S. debt, only for the reason that USD acts as the current currency reserve at the moment -- but the debt is sustainable if the U.S. economy grows. It's a dangerous game to play, but I'd be more concerned about the fact the U.S. is in a recession and birth rates seem to be declining which means there isn't enough economic output to support the debt. Inflation compounds the issue to the extent that it accelerates other countries dumping USD from their currency reserves as its purchasing power decreases too quickly over time. |
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Interesting to see democrats on board with the "modernizing" of the IRS -- this is contemporaneous to the inflation reduction act allowing the IRS to hire 87,000 new agents. These agents are alleged to be there to target the rich, but we all know they'll be knocking down the doors of middle income Americans who commit the crime of not paying taxes for a yard sale. The IRS put up some job descriptions which included responsibilities of carrying a firearm and using deadly force if necessary.
I do not accept the premise of "modernization" to be anything that would be beneficial to most Americans. Modernization is what the government claims -- what's it in actuality? Is it really a step closer digital filings?
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Most democracies follow Judeo-Christian values -- if you're a Christian you shouldn't any issues running in a democratic election if your constituency is also primarily Christian based or follow Judeo-Christian values. If you want to be a true politician, however, your job is to tell people what they want to hear, not what they need to here, ie your job is to lie for a living. Don't like it, then perhaps public office is not for you.
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American corporate culture is the true essence of capitalism. Treating workers like machines, putting profit on a pedestal and acting as if the CEOs are some kind of royalties.  Revenue is going down, so the only way to keep the profits high and the shareholders happy is to fire as many useless workers as possible and increase the effectiveness of the remaining employees (by turning them into burned out workaholics, I guess). Maybe the Silicon valley companies are "smelling" the recession in the air. Bill Gates is probably one of the worst CEOs in the history of the high tech industry(not the worst). Microsoft ruined Skype and failed to make an operating system that is better than Windows XP. His performance as CEO doesn't negate the fact that he started and built a company worth billions. Microsoft was at the time the gold standard. Another route they could take is to cut CEO salaries. I don't know if CEO's earning $10,000 an hour is a good payrate in terms of their productivity and overall value to the company. Bill Gates said most of his time as CEO of microsoft was spent reading and responding to emails. I would guess the daily structure of tech CEOs in the modern era hasn't changed. CEO's likely spend most of their time reading and answering emails. Unless they're the CEO of tesla or space x who spends a lot of time doing actual field work and testing.
It will be interesting to see how much of a hit to US GDP these layoffs and potential economic recession contribute. Silicon Valley is arguably the backbone of the american economy. Its a huge part of why california would have the 5th largest economy in the world if it were ranked as a country. Layoffs and slowdowns there could affect american wealth and standard of living significantly.
It never makes sense to me to use the salary as a CEO and somehow make it a comparable metric to the average worker. Is it possible that the CEO of a large enterprise is not worth 10k USD/hr and that those funds could be better placed? Sure, I'd say so. But the market rate for CEO's are extraordinarily high for the reason that a single CEO can tank an entire multi-billion dollar enterprise with a few bad choices. A CEO does much more than read emails. |
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U.S. government seems to want to change what "recession" means as if the economic numbers don't indicate dire consequences of post COVID fiscal policies. I'm looking for whatever excuse they can find to explain the numbers and don't find anything worthy of salvage. Hiring is slowing for the U.S. economy, wages are not growing, inflation is high. Perhaps the federal reserve is unwilling to recognize reality, or perhaps they are truly as incompetent as everyone thinks. Or perhaps they think ordinary people are idiots. There are many options and one does not exclude the other. All the above seems applicable. Wrong about inflation, wrong about a recession. What else aren't they telling us? U.S. government seems to want to change what "recession" means as if the economic numbers don't indicate dire consequences of post COVID fiscal policies. I'm looking for whatever excuse they can find to explain the numbers and don't find anything worthy of salvage. Hiring is slowing for the U.S. economy, wages are not growing, inflation is high. Perhaps the federal reserve is unwilling to recognize reality, or perhaps they are truly as incompetent as everyone thinks.
This is one of the classic tactics of politicians, they are just moving the goalposts and nothing more, it is similar to what they do with inflation or unemployment in which they modified the criteria to give the impression the inflation and the unemployment are lower, but if we used the previous criteria we can see that inflation and unemployment are way higher than what we thought, so it is not really that surprising they are trying to do the same with the recession term. Yellen is not even the proverbial politician lying to their constituency in order to win at the ballot box, though she talks like a politician. Unfortunately, these are the types of folks that operate centralized financial institutions. There is no escaping the conflation of party politics and the fiscal policy of a nation's economy. I question Yellen's motive and competency. |
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Yes. It is wrong to mistreat classified information. I also would call it contemptable to raid Hillary Clinton's private home with armed FBI agents under authority of the federal government from the opposing party. Seem unreasonable?
How about this: the federal government does not belong to a "party". In theory. Whoever's in charge of the Presidency runs the show unfortunately. I'm all for reducing the size and power the government. |
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Yeah. By ask nicely, I mean without a subpoena or search warrant. Google statements by the National Archives. And do we know whether the documents were declassified or not besides what the federal government claims? Trump's attorney's were in contact with the feds. Is there evidence that Trump's attorney's were not in cooperation and ceased communications? The National Archives is an institution, not a person. I don't expect any detailed specifics from them. Andrew Cuomo seems concerned about this: https://twitter.com/andrewcuomo/status/1556990308424028163 If it's this bad that someone like Cuomo is the contrarian, you know the DoJ has gone rogue. The investigation into ties between the Trump campaign and Russia was started because George Papadopoulos got drunk and bragged about Russia having dirt on Hillary Clinton to an Australian diplomat who then informed US intelligence. Drunken statements were the start of an investigation that lasted 4 years, expended no less than 50 million USD, and resulted in zero charges related to coordination, collusion, or cooperation with the Russians. You don't unironically believe this do you? The idea that the Steel dossier was what started the investigation, or even that it was useful to the FBI is ridiculous. The only reason you think it's true is because Trump said it over and over and you've decided to be willfully ignorant by refusing to do your own objective research. It's a lie. It's not based in reality. Right, was useless. Which is why the FBI interviewed Steele and used him as a sub source for FISA warrants: https://www.judiciary.senate.gov/imo/media/doc/February%209,%202017%20Electronic%20Communication.pdfIG released a lengthy report on the matter - https://www.justice.gov/storage/120919-examination.pdfInvestigation was a sham. And I'm sure I'm going to keep hearing these lame, vague attempts to defend Trump since approaching the case rationally only leads to conclusions that you don't want to be true. I don't particularly care about Trump. I figured after 4 years of the media lying to you about Trump/Russian collusion you'd catch on that they don't actually have anything on him, and are attacking him because of political animus. So you still have a problem with Hillarys handling of emails, while at the same time defending Trump keeping boxes of classified documents in his basement....I'm sure your opinion has nothing to do with the fact you just don't like Democrats.
How about Trumps own daughter and son in law using gmail accounts from her official White House office? Wouldn't it be better they used personal servers than give access to a liberal third party mega corporation?
I don't have any problem with Clinton's emails. It was merely part and parcel of her incompetence. I am only pointing out the double standard. Because it seems only years later that the left is concerned about classified information. You all didn't care much then. When Trump's children disobey a subpoena from Congress, use bleach bit to delete thousands of emails, and have classified information from private email servers hacked, then perhaps you might have a suitable comparison. FBI didn't seem to concerned about classified documents on a private email server with Hillary Clinton, did they? Wonder what changed.
So... is it wrong or not? Or is it only wrong when Hillary does it? As is typical with whataboutism "defense" you need to admit that the person you're defending is wrong, or that the aforementioned whataboutism is useless here. Which is it? Yes. It is wrong to mistreat classified information. I also would call it contemptable to raid Hillary Clinton's private home with armed FBI agents under authority of the federal government from the opposing party. Seem unreasonable? |
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He could have given them back a year ago when they asked nicely.
Or a few months ago when he was subpoenaed.
Or a few weeks ago when officials flew down to ask in person.
Are you aware that they "asked him nicely"? Or that they even asked at all? Who is the source of these claims? Do you believe the same FBI that used oppo research sourced by Russians in 2016 which started Russia gate are to be trusted in their claims? Better yet, do you think Merrick Garland should be trusted? Raiding the former President's private home for classified documents -- I'm sure this had nothing to do with politics. Apparently a 4 year Russian collusion witch hunt and two impeachments isn't enough. Raid the man's private home when he isn't President anymore, and then present some nonsensical cover story about classified documents. FBI didn't seem to concerned about classified documents on a private email server with Hillary Clinton, did they? Wonder what changed. |
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I'm torn on whether democrats actually want Trump to run in 2024 or not. If they want to bar him from running over a document dispute, in which they waited 18 months to pursue, then I question which one of the remainders in the field they would rather have as their opponent. Ron DeSantis? Ted Cruz? The republican nominee could be any sentient human and walk away in a landslide. Trump is the only person democrats could beat.
I'm more inclined to believe the radicals in the Biden Department of Justice want to energize Trump and his base to win the nomination in 2024. This way democrats have a beatable candidate in the general. So they'll go as far to conduct an FBI raid, but won't actually prosecute him and bar him from running.
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From what I've seen, it's usually the lower class that has issues with budgeting that prevents them from propelling upwards on the socioeconomic ladder. Once you shell out the funds for living expenses, there isn't much left to save or spend on personal expenditures or put into a savings account. I suppose the drawback to hypercapitalism is hyper-consumerism, and the lack of financial literacy. Surrounded by products and services, does it seem beyond comprehension that folks would have a tough time managing their budget? I don't advocate saving someone from themselves -- I would never tell someone how to spend their money.
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A recent research by the Britsh Post Office unveiled that 71% of Brits planning on going on vacation in the UK this year intends to take out cash before leaving. There have been high increase in cash deposit and withdrawals in Britain. People are going back to cash because they believe that it keeps tighter control on their spending as living costs soar. It is believed that cash helps people budget, as using it means you literally can count the pennies. Paying with a card or crypto currency make spending easy and convenient that sometimes one tends to overspend. Sometimes one might not even know the balance of his account but with cash you are always aware of how much you have. What do you think? https://www.bbc.com/news/business-62437819People take cash out before traveling all the time. For the reason if credit cards get stolen or they receive transactional errors from the merchant's end, it's good to keep cash on hand. This isn't indicative of a trend back towards cash, that ship has sailed a long time ago. I suppose it's easier to budget when you're spending actual cash instead of putting everything on credit -- I'd just caution that this sort of method doesn't apply to most folks and it certainly isn't a rebuke of cashless payment methods. |
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The stimulus money didn't go far enough. It was supposed to give compensation from the government due to lockdowns but a mere 2k USD for over a year of restrictions didn't make up for lost income. On top of that, inflation is outpacing wage increases. As long as the dollar is the world currency, then all the debts in the US economy are not so dangerous for the United States, because they print dollars. But the main problem is that many countries have already begun to abandon settlements in dollars and use national currencies. If this trend does not stop, then the dollar will have problems.
The issue is that USD is no longer placing itself as an attractive currency reserve. The inflation rate is too high, and you're seeing a lot of countries reduce the amount of USD they hold in their reserves as a result. In addition to the sanction efforts by the U.S. (asset forfeitures), I don't really see USD being the world reserve currency for too much longer, |
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CDC finally coming around to what we already knew. CDC: Covid here to stay - https://www.nytimes.com/2022/08/11/health/virus-cdc-guidelines.htmlIncluded in the new guidelines are no mandatory quarantine period, despite recent COVID-19 infection. Social distancing guidelines are also being dropped. Midterm elections for the democrats are coming up in just a few short months and if their internal polls are accurate to even a small degree of certainty, they understand that Americans have longed stop giving a damn about whatever anti-scientific restrictions politicians choose to impose on their constituency. |
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You're making a causal association without any long term data to back up your claims. Bitcoin has not been tested under an inflation crisis before. Some countries haven't seen their currencies inflate to the degree they're seeing in decades so it's not as if you can use historical trends. You're attributing small, single digit rises, in Bitcoin's price to be associated with inflation, why?
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Most people are limited to using crypto currency for online purchases if businesses in their locality to take crypto for payment, and most businesses don't. It isn't convenient to hold crypto if you're aimlessly converting back and forth depending on how you have to spend your funds. The conversion fees get expensive, and in some jurisdictions you're required to pay taxes when you cash in your crypto.
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Joe Biden says that inflation is at 0% when it’s actually at 8.5% and suddenly all the social media platforms have stopped fact checking. Amazing how that works…
Claim: OgNasty claimed "Joe Biden says that inflation is at 0% when it’s actually at 8.5%" Fact Check: Joe Biden claimed there was 0% inflation in the month of July, which is true. There was actually 0.6% deflation month over month from June to July, which means 0% inflation. “Today, we received news that our economy had zero percent inflation in the month of July -- zero percent,” - Joe Biden, August 10 2022 Ruling:  Yes, inflation is only 8.5% year over year. USD holders should know that their funds are kept nice and safe, losing a mere 8.5% of its value over the last 12 months alone. Remember when the target was 2% and everyone begrudgingly accepted that as the reality of fiat currency? Somehow Joe Biden made 2% look like a dream, the achievable goal. Maybe that was his plan all along, because people would rather settle with losing 2% of their purchasing power a year versus 8.5%. |
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They aren't good for the economy -- they're mere digital tokens that will undoubtedly be created from thin air and be used as a means to limit cash based p2p transactions. Granted most banking is digital anyways, they'd just prefer to cement paper currency's fate. The appeal is to conflate CBDC's with crypto currency, and to the average consumer, they probably couldn't tell difference.
Being able to control the money supply by merely generating new tokens is as dangerous as it gets.
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Meaning, sex festivals won't be shut down for monkeypox, but attending a wedding or a funeral for your loved during COVID was unacceptable.
Given that we are trying to flatten the curve for moneypox but that shutting down these festivals would be racist, what other tools does the world have to help slow the spread? Asking homosexuals to not engage in promiscuous activity is asking for too much, apparently. I'm not aware of any other effective method of stopping monkeypox, though some health regulatory agencies have already issued their guidance which includes, as you can imagine, wearing a mask. They will ask you to mask up, they won't ask homosexuals to stop participating in sex festivals. |
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Did china all ready apoligized about covid 19
No. also did china pay? No. China doesn't even acknowledge that the virus came from Wuhan. I recall reading their theory that it was the U.S. military that brought COVID-19 to bear. Perhaps they've changed their story again -- changing these cover stories is more convenient than shelling out any compensatory damages. |
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