I don't mind stimulus checks for those who lost their jobs, or have excessive costs - in other words those that need bc of the pandemic. I do have a problem with those who don't need it and will buy frivolous things with it while the federal debt skyrockets - I don't buy that this helps the long term economic strength - increased debt to make increased spending. HST, big corporations really need to pay their share (many don't) so it goes both ways. Future generations in the US are s-----d...............
In terms of relevance to numismatics, here is my worst bust quarter (what I think about over federal spending), could not even bean, bleh..........
@Kurisu said:
Just like a lot of people here who's retirement money is working for them...these stimuli will work for us too. My brother is on the board of a bank, he's a truly good dude...if we can get rid of some ancient and unfairly grown too large student loans and basically provide income for those who it helps the most and some other things etc etc...
Properly taxing the hugely wealthy appropriately as well as the massive corporations will keep things normal and quickly take care of those trillions of dollars...as will a more rapidly growing and evolving economy!
There are a lot of people who understand waaaay more than me about banking and economies world-wide (like my brother) who agree that we could basically double this $5T to give those who need it more in order to encourage better lives, better health, and more opportunities and it will absolutely pay off for our economy in the long run and the short run as well...
Even Universal basic income has it's pros and cons too but it's generally agreed that it seems to encourage people to work more not less, same goes for getting a better education and creating businesses and that whole paying taxes thingy...
@Kurisu said:
Just like a lot of people here who's retirement money is working for them...these stimuli will work for us too. My brother is on the board of a bank, he's a truly good dude...if we can get rid of some ancient and unfairly grown too large student loans and basically provide income for those who it helps the most and some other things etc etc...
Properly taxing the hugely wealthy appropriately as well as the massive corporations will keep things normal and quickly take care of those trillions of dollars...as will a more rapidly growing and evolving economy!
There are a lot of people who understand waaaay more than me about banking and economies world-wide (like my brother) who agree that we could basically double this $5T to give those who need it more in order to encourage better lives, better health, and more opportunities and it will absolutely pay off for our economy in the long run and the short run as well...
Even Universal basic income has it's pros and cons too but it's generally agreed that it seems to encourage people to work more not less, same goes for getting a better education and creating businesses and that whole paying taxes thingy...
Have your brother give me a call if he wants a math lesson.
He's an expat in Japan...almost 30 years in securities IT (lead in tech research and Japanese software bilingual programmer) & CFO Asia for a bank in yet another country, and angel investor he just changed jobs for the first time in a few years. A rare true eidetic, he's doing fairly well... Nice offer though...
Coins are Neato!
"If it's a penny for your thoughts and you put in your two cents worth, then someone...somewhere...is making a penny." - Steven Wright
@JimTyler said:
I thought a lot of you guys getting stimulus checks were way too loaded to get one. My surprise.
Not me, I'm eligible. For some reason, however, TPTB haven't seen fit to send them my way. Don't know where this rates on the "virtue signaling" scale, though.
@Kurisu said:
Just like a lot of people here who's retirement money is working for them...these stimuli will work for us too. My brother is on the board of a bank, he's a truly good dude...if we can get rid of some ancient and unfairly grown too large student loans and basically provide income for those who it helps the most and some other things etc etc...
Properly taxing the hugely wealthy appropriately as well as the massive corporations will keep things normal and quickly take care of those trillions of dollars...as will a more rapidly growing and evolving economy!
There are a lot of people who understand waaaay more than me about banking and economies world-wide (like my brother) who agree that we could basically double this $5T to give those who need it more in order to encourage better lives, better health, and more opportunities and it will absolutely pay off for our economy in the long run and the short run as well...
Even Universal basic income has it's pros and cons too but it's generally agreed that it seems to encourage people to work more not less, same goes for getting a better education and creating businesses and that whole paying taxes thingy...
Have your brother give me a call if he wants a math lesson.
He's an expat in Japan...almost 30 years in securities IT (lead in tech research and Japanese software bilingual programmer) & CFO Asia for a bank in yet another country, and angel investor he just changed jobs for the first time in a few years. A rare true eidetic, he's doing fairly well... Nice offer though...
If he thinks printing $5 trillion "pays off in the short run"...I'll agree to disagree.
Ask yourself, why we haven't just been printing $5 trillion per year every year for the last 50 years? We'd all have mansions on the moon!!!
Can any of the historians on here recall a nation that printed its way to wealth? The only one I can think of is Weimar Germany. Everyone was a billionaire.
@Kurisu said:
Just like a lot of people here who's retirement money is working for them...these stimuli will work for us too. My brother is on the board of a bank, he's a truly good dude...if we can get rid of some ancient and unfairly grown too large student loans and basically provide income for those who it helps the most and some other things etc etc...
Properly taxing the hugely wealthy appropriately as well as the massive corporations will keep things normal and quickly take care of those trillions of dollars...as will a more rapidly growing and evolving economy!
There are a lot of people who understand waaaay more than me about banking and economies world-wide (like my brother) who agree that we could basically double this $5T to give those who need it more in order to encourage better lives, better health, and more opportunities and it will absolutely pay off for our economy in the long run and the short run as well...
Even Universal basic income has it's pros and cons too but it's generally agreed that it seems to encourage people to work more not less, same goes for getting a better education and creating businesses and that whole paying taxes thingy...
Have your brother give me a call if he wants a math lesson.
He's an expat in Japan...almost 30 years in securities IT (lead in tech research and Japanese software bilingual programmer) & CFO Asia for a bank in yet another country, and angel investor he just changed jobs for the first time in a few years. A rare true eidetic, he's doing fairly well... Nice offer though...
If he thinks printing $5 trillion "pays off in the short run"...I'll agree to disagree.
Ask yourself, why we haven't just been printing $5 trillion per year every year for the last 50 years? We'd all have mansions on the moon!!!
Can any of the historians on here recall a nation that printed its way to wealth? The only one I can think of is Weimar Germany. Everyone was a billionaire.
I'm very patient. Let's see how the new normal works out...and how quickly our national debt and deficit change for the better during the next decade...I'm sure this isn't perfect but it sure is fun lol https://www.usdebtclock.org/
Coins are Neato!
"If it's a penny for your thoughts and you put in your two cents worth, then someone...somewhere...is making a penny." - Steven Wright
If he thinks printing $5 trillion "pays off in the short run"...I'll agree to disagree.
Ask yourself, why we haven't just been printing $5 trillion per year every year for the last 50 years? We'd all have mansions on the moon!!!
Actually - only if they fund NASA properly. Feds underfund NASA, something like $25b/yr (vs. trillions free money to stimulus and corporation tax breaks) which is in the wash these days despite the value for that money in new tech. Another few billion per year (hardly noticed) and NASA could get us back to the Moon and we could all have mansions there! But apparently congress doesn't want those mansions on the Moon, alas................ Instead they want Amazon free shipping so they give them a huge tax break.
@jmlanzaf said:
Ask yourself, why we haven't just been printing $5 trillion per year every year for the last 50 years? We'd all have mansions on the moon!!!
@Kurisu said:
Just like a lot of people here who's retirement money is working for them...these stimuli will work for us too. My brother is on the board of a bank, he's a truly good dude...if we can get rid of some ancient and unfairly grown too large student loans and basically provide income for those who it helps the most and some other things etc etc...
Properly taxing the hugely wealthy appropriately as well as the massive corporations will keep things normal and quickly take care of those trillions of dollars...as will a more rapidly growing and evolving economy!
There are a lot of people who understand waaaay more than me about banking and economies world-wide (like my brother) who agree that we could basically double this $5T to give those who need it more in order to encourage better lives, better health, and more opportunities and it will absolutely pay off for our economy in the long run and the short run as well...
Even Universal basic income has it's pros and cons too but it's generally agreed that it seems to encourage people to work more not less, same goes for getting a better education and creating businesses and that whole paying taxes thingy...
Have your brother give me a call if he wants a math lesson.
He's an expat in Japan...almost 30 years in securities IT (lead in tech research and Japanese software bilingual programmer) & CFO Asia for a bank in yet another country, and angel investor he just changed jobs for the first time in a few years. A rare true eidetic, he's doing fairly well... Nice offer though...
If he thinks printing $5 trillion "pays off in the short run"...I'll agree to disagree.
Ask yourself, why we haven't just been printing $5 trillion per year every year for the last 50 years? We'd all have mansions on the moon!!!
Can any of the historians on here recall a nation that printed its way to wealth? The only one I can think of is Weimar Germany. Everyone was a billionaire.
I was a Trillionare once. Probably a Quadrillionare actually lol
Word to the wise: if you post an overtly non-coin related rant, and then add a coin pic at the end in effort to feign compliance with forum rules ..... it was nice knowing ya!
@SeattleSlammer said:
Word to the wise: if you post an overtly non-coin related rant, and then add a coin pic at the end in effort to feign compliance with forum rules ..... it was nice knowing ya!
@SeattleSlammer said:
Word to the wise: if you post an overtly non-coin related rant, and then add a coin pic at the end in effort to feign compliance with forum rules ..... it was nice knowing ya!
@JimTyler said:
I thought a lot of you guys getting stimulus checks were way too loaded to get one. My surprise.
My wife stays home with our two kids and I don’t make a lot of money. But we live within our means, and save. Which means i have a little free money for fun hobbies, like coins. But I try to only buy coins that I think I can sell for a profit if I need to. It’s totally possible to save and invest (and have a decent collection) without making a lot of money, you just have to be disciplined.
Just found out no stimulus check for me. I make under the threshold for one but my wife more than makes that up. She doesn’t know it yet but she’s buying dinner.
@spacehayduke said:
I don't get any stimulus money. I don't understand why folks that are employed are getting any, but hey that is life and just moves up the federal debt........
Best, SH
Because the IRS has no way to better means test those who are needy from those who are not.
@JimTyler said:
Just found out no stimulus check for me. I make under the threshold for one but my wife more than makes that up. She doesn’t know it yet but she’s buying dinner.
@spacehayduke said:
I don't get any stimulus money. I don't understand why folks that are employed are getting any, but hey that is life and just moves up the federal debt........
Best, SH
Because the IRS has no way to better means test those who are needy from those who are not.
@spacehayduke said:
I don't get any stimulus money. I don't understand why folks that are employed are getting any, but hey that is life and just moves up the federal debt........
Best, SH
Because Tinkel Down Economics doesn't work.
The workers need extra money to upgrade there belongings. When people upgrade their belonging it causes demand in the market place which causes companies to produce more product. When companies produce more products they need to hire more employees. More employees come from the ranks of the unemployed.
@spacehayduke said:
I don't get any stimulus money. I don't understand why folks that are employed are getting any, but hey that is life and just moves up the federal debt........
Best, SH
Because the IRS has no way to better means test those who are needy from those who are not.
Actually, they do. They just chose not to use it.
So what method do they have to separate the wheat from the chaff?
@spacehayduke said:
I don't get any stimulus money. I don't understand why folks that are employed are getting any, but hey that is life and just moves up the federal debt........
Best, SH
Because the IRS has no way to better means test those who are needy from those who are not.
@BryceM said:
The idea of a stimulus check is a bit offensive to some of us who are opposed on ideological grounds and who aren't getting one. A thread about how people are going to spend government collected tax dollars on luxury items rubs me the wrong way.
If the government really wants to stimulate the economy, why not stop taking so much in taxes? Same thing right? Too political? I can't see how this doesn't end badly for our country, and it's a game that has been played by members of both major political parties. Shame on all of us for putting those idiots in Washington.
If any of us tried to run our families or our businesses the way they run this country we'd be bankrupt by the end of the year. If it doesn't work on a micro scale, why should it work on a macro level?
I definitely don't want to point out the obvious here, but the federal government is not required to balance its budget, whereas state governments and private individuals/businesses (generally) are. I can guarantee you that the federal government will make no attempt in the foreseeable future to restrain spending, as they may simply print money with reckless abandon. The markets are proving--unfortunately--Keynesian economics to be correct in that debt does not seem to matter. At least, that seems to be the case for now. Over 25% of the M1 measure of our money supply has been put there in the past 6 months. The Fed simply creates the money, digitally, in its balance sheet, as it absorbs nearly all of the debt incurred by the US Treasury over the past year. In the past, that debt would have been bought up through bonds and securities by various actors, including domestic and foreign purchasers. What seems to be different now is that the Federal Reserve as become the main purchaser.
Honestly, it barely makes any sense, as there really isn't any precedent for our national debt and we are really in uncharted waters.
The stimulus checks, and the resultant National Debt are a way of justifying the proposed Income tax increases our esteemed Vice President wants. Along with $10.00 a gallon Gasoline!
Comments
Bought this Just now with my Previous stimulus $ , now waiting for my next check so I can get more Gold and Silver 👍👍
I don't mind stimulus checks for those who lost their jobs, or have excessive costs - in other words those that need bc of the pandemic. I do have a problem with those who don't need it and will buy frivolous things with it while the federal debt skyrockets - I don't buy that this helps the long term economic strength - increased debt to make increased spending. HST, big corporations really need to pay their share (many don't) so it goes both ways. Future generations in the US are s-----d...............
In terms of relevance to numismatics, here is my worst bust quarter (what I think about over federal spending), could not even bean, bleh..........
Successful transactions with-Boosibri,lkeigwin,TomB,Broadstruck,coinsarefun,Type2,jom,ProfLiz, UltraHighRelief,Barndog,EXOJUNKIE,ldhair,fivecents,paesan,Crusty...
Have your brother give me a call if he wants a math lesson.
He's an expat in Japan...almost 30 years in securities IT (lead in tech research and Japanese software bilingual programmer) & CFO Asia for a bank in yet another country, and angel investor he just changed jobs for the first time in a few years. A rare true eidetic, he's doing fairly well... Nice offer though...
Coins are Neato!
"If it's a penny for your thoughts and you put in your two cents worth, then someone...somewhere...is making a penny." - Steven Wright
Not me, I'm eligible. For some reason, however, TPTB haven't seen fit to send them my way. Don't know where this rates on the "virtue signaling" scale, though.
If he thinks printing $5 trillion "pays off in the short run"...I'll agree to disagree.
Ask yourself, why we haven't just been printing $5 trillion per year every year for the last 50 years? We'd all have mansions on the moon!!!
Can any of the historians on here recall a nation that printed its way to wealth? The only one I can think of is Weimar Germany. Everyone was a billionaire.
I'm very patient. Let's see how the new normal works out...and how quickly our national debt and deficit change for the better during the next decade...I'm sure this isn't perfect but it sure is fun lol https://www.usdebtclock.org/
Coins are Neato!
"If it's a penny for your thoughts and you put in your two cents worth, then someone...somewhere...is making a penny." - Steven Wright
Actually - only if they fund NASA properly. Feds underfund NASA, something like $25b/yr (vs. trillions free money to stimulus and corporation tax breaks) which is in the wash these days despite the value for that money in new tech. Another few billion per year (hardly noticed) and NASA could get us back to the Moon and we could all have mansions there! But apparently congress doesn't want those mansions on the Moon, alas................ Instead they want Amazon free shipping so they give them a huge tax break.
Successful transactions with-Boosibri,lkeigwin,TomB,Broadstruck,coinsarefun,Type2,jom,ProfLiz, UltraHighRelief,Barndog,EXOJUNKIE,ldhair,fivecents,paesan,Crusty...
Why stop at $5 trillion?
@MasonG, this is the solution to our stimulus problem, 100 trillion will bail us out of debt 😂.
I suppose if you don't get a check, feel fortunate!
Collect raw morgans, walkers, mercs, SLQ, barber q. Looking at getting into earlier date coins pre 1900s.
I was a Trillionare once. Probably a Quadrillionare actually lol
The whole worlds off its rocker, buy Gold™.
Word to the wise: if you post an overtly non-coin related rant, and then add a coin pic at the end in effort to feign compliance with forum rules ..... it was nice knowing ya!
Are you the new forum cop?
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
You would think from reading the "What do you do for a living" thread.
Great transactions with oih82w8, JasonGaming, Moose1913.
No, he's been doing it for awhile...
My wife stays home with our two kids and I don’t make a lot of money. But we live within our means, and save. Which means i have a little free money for fun hobbies, like coins. But I try to only buy coins that I think I can sell for a profit if I need to. It’s totally possible to save and invest (and have a decent collection) without making a lot of money, you just have to be disciplined.
Just purchased a 1949 Canadian Silver Dollar.
Just found out no stimulus check for me. I make under the threshold for one but my wife more than makes that up. She doesn’t know it yet but she’s buying dinner.
Because the IRS has no way to better means test those who are needy from those who are not.
MY COINS FOR SALE AT https://www.pcgs.com/setregistry/collectors-showcase/other/bajjerfans-coins-sale/3876
Apparently, she's buying EVERYTHING!
Actually, they do. They just chose not to use it.
In china maybe.
So what method do they have to separate the wheat from the chaff?
MY COINS FOR SALE AT https://www.pcgs.com/setregistry/collectors-showcase/other/bajjerfans-coins-sale/3876
Its not up to the IRS to decide the cutoff point, that is decided by others.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
I definitely don't want to point out the obvious here, but the federal government is not required to balance its budget, whereas state governments and private individuals/businesses (generally) are. I can guarantee you that the federal government will make no attempt in the foreseeable future to restrain spending, as they may simply print money with reckless abandon. The markets are proving--unfortunately--Keynesian economics to be correct in that debt does not seem to matter. At least, that seems to be the case for now. Over 25% of the M1 measure of our money supply has been put there in the past 6 months. The Fed simply creates the money, digitally, in its balance sheet, as it absorbs nearly all of the debt incurred by the US Treasury over the past year. In the past, that debt would have been bought up through bonds and securities by various actors, including domestic and foreign purchasers. What seems to be different now is that the Federal Reserve as become the main purchaser.
Honestly, it barely makes any sense, as there really isn't any precedent for our national debt and we are really in uncharted waters.
The stimulus checks, and the resultant National Debt are a way of justifying the proposed Income tax increases our esteemed Vice President wants. Along with $10.00 a gallon Gasoline!