patrick.net

Analyzer says

cut the hell out of taxes for the lower and middle class.

Agree.

No one with income under $100K or assets below $1M should pay taxes.

zzyzzx says

How can people be "hoarding money" when so many people are so far into debt?

How about Gates, Buffet, etc start spending their hoards first?

John Bailo says

Analyzer says

cut the hell out of taxes for the lower and middle class.

Agree.

No one with income under $100K or assets below $1M should pay taxes.

I am reasonable, lets just start with 1 year of no income taxes. These people need to have some guts to try something out of the box. It is undeniable that more money would be flowing in the economy as the result.

Analyzer says

I am reasonable, lets just start with 1 year of no income taxes.

I'm against income taxes and business taxes of any kind.

John Bailo says

Analyzer says

I am reasonable, lets just start with 1 year of no income taxes.

I'm against income taxes and business taxes of any kind.

Capital gains, estate, death taxes are a complete joke and a form of robbery.

Analyzer says

Capital gains, estate, death taxes are a complete joke and a form of robbery.

Taxing someone with $100K of income and no assets is insane.

John Bailo says

Analyzer says

Capital gains, estate, death taxes are a complete joke and a form of robbery.

Taxing someone with $100K of income and no assets is insane.

How do these rich law makers look themselves in the mirror?

Analyzer says

How do these rich law makers look themselves in the mirror?

They have a servant polish it with a baby seal skin chamois, while serving them caviar from a solid gold platter.

myob says

Analyzer says

How do these rich law makers look themselves in the mirror?

They have a servant polish it with a baby seal skin chamois, while serving them caviar from a solid gold platter.

Great, I knew it had to be different from how we do it.

The fed is filled with a bunch of morons.

It is obvious that wealth inequality is growing in the U.S.-
http://economix.blogs.nytimes.com/2014/04/02/the-wealth-gap-is-growing-too/?_php=true&_type=blogs&_r=0

That means that the rich are getting even richer. The rich do not need to spend 80% of their paycheck as a middle class family does.

This the fed calls "consumers" are hoarding.

This QE experiment shows that a interventionist monetary policy often causes more harm than good and that the goals of monetary policy are far more elusive than the central planners claim.

John Bailo says

alyzer says

I am reasonable, lets just start with 1 year of no income taxes.

I'm against income taxes and business taxes of any kind.

income tax is pernicious enough but then you take what is left over and buy a mutual fund and make a little money on it, so they tax your gain there. Then you die and they tax what's left

smaulgld says

John Bailo says

alyzer says

I am reasonable, lets just start with 1 year of no income taxes.

I'm against income taxes and business taxes of any kind.

income tax is pernicious enough but then you take what is left over and buy a mutual fund and make a little money on it, so they tax your gain there. Then you die and they tax what's left

I think most agree that we all should pay some of the tax burden, it is the double and triple taxation that is unnerving.

Ok, I confess ... I'm hoarding money, so that I can see some whores!

Where does one draw the line between saving and hoarding?

dublin hillz says

Where does one draw the line between saving and hoarding?

When the 1% does it, it's saving, when the low/middle class does it, it's hoarding.

This guy makes my exact point re dollar demand around the 7 minute mark http://goldswitzerland.com/?p=17129

smaulgld says

This guy makes my exact point re dollar demand around the 7 minute mark

That was interesting. I guess we have inflation from the QE but also foreigners wanting value for their dollar.

What I also found interesting was his simple analysis that the world was out of balance regarding financial services.

Also he said that bond yields and interest rates have never been this low going back centuries.

He said financial services have become parasitical to the economy.

IOW the world is over leveraged which portends deflation. The Fed will keep it going as long as possible but at some point there has to be a rebalancing.

Its all about financial services
We dont produce more stuff we just produce more dollars

smaulgld says

Its all about financial services

We dont produce more stuff we just produce more dollars

Actually, we produce more fictitious financial products.

& we produce dollars in abundance!
http://patrick.net/?p=1248758

smaulgld says

We dont produce more stuff we just produce more dollars

There will be a re balancing willy nilly. And it is going to be ugly.

Not just regarding the financial services but with foreign trade.

If you look at it as Chris Martenson does we have peak oil, peak economy (leverage) and peak environment. I think technology can solve the energy and environment but the leverage of everything financial has got to change to sound money. Regardless of anyone's disposition, it will change willy nilly.

indigenous says

If you look at it as Chris Martenson does we have peak oil, peak economy (leverage) and peak environment. I think technology can solve the energy and environment but the leverage of everything financial has got to change to sound money. Regardless of anyone's disposition, it will change willy nilly.

good point, you can use technology to solve your energy problems but not your debt ones