The Great Economic Reset

A place to discuss politics and things related to Govts
Message
Author
Boac
Chief Pilot
Chief Pilot
Posts: 17199
Joined: Fri Aug 28, 2015 5:12 pm
Location: Here

Re: The Great Economic Reset

#121 Post by Boac » Sat Jan 14, 2023 11:03 am

Wow!

User avatar
barkingmad
Chief Pilot
Chief Pilot
Posts: 5497
Joined: Mon Nov 02, 2015 9:13 pm
Location: Another Planet
Gender:
Age: 75

Re: The Great Economic Reset

#122 Post by barkingmad » Sat Jan 14, 2023 11:08 pm

...."And I was part of a group of people in the Bush administration who got laws changed to require audited financial statements by the government. So every year you pay your taxes and you say, here, how has my money worked? And the idea was, according to the Constitution of the law, you’re supposed to get something back that says, okay, here’s what we did with your money. So, you know, it’s a fundamental principle, no taxation without representation. Okay, so a process began in fiscal 1998, which starts on October 1997, whereby they started to report that they weren’t going to give audited financial statements, and that vast amounts of money were disappearing. And it was literally, you know, it’d be down in the footnotes, but it was there. So in the spring of 1997, I was doing a presentation to the largest pension fund leaders in the country in the United States, including the president of the largest pension fund. And I showed him a simulation of how we could re engineer the federal budget in the Philadelphia area where I’d grown up and dramatically improve wealth and lower the government deficits. And he looked at me and he froze, wonderful man. And he said, You don’t understand it’s too late. I said, what do you mean, it’s too late, he said, they’ve given up on the country, they’re moving all the money out starting in the fall. Now, when he said that, I thought he meant they’re moving they’re shifting allocations in the portfolios, and they’re moving the money that can be moved legally. I was wrong. What happened at the beginning of fiscal 1997, fiscal 1998, October 1997, is vast amounts of money started to disappear from the US government. And so as the debt rose, money disappeared, and that’s what I call the financial coup, it started then, and as of 2015, over $21 trillion dollars of undocumentable adjustments in the US government. And at that moment, when that $21 trillion an American professor did a survey of two of the agencies where most of the money disappeared from including the place I used to work. And at that time, there was $21 trillion dollars of outstanding treasury debt, and $21 trillion of undocumentable adjustments from 1998 to 2015.

If that statement whets your appetite to hear more from C A F, here is the URL for the video, below which is the transcript for those can't or won't watch videos;

https://www.covidtruths.co.uk/2021/10/c ... ashfriday/

Don't panic Captain Mainwaring, despite the URL title this one is all about the rapidly approaching financial crash... :-w

User avatar
Woody
Chief Pilot
Chief Pilot
Posts: 10244
Joined: Tue Aug 25, 2015 6:33 pm
Location: Sir Kenny Dalglish Stand
Age: 59

Re: The Great Economic Reset

#123 Post by Woody » Sun Jan 15, 2023 8:33 pm

Davos will have to cope without Big Cyril :-o
President Cyril Ramaphosa has cancelled his “working trip” to the World Economic Forum’s (WEF) gathering in Davos, Switzerland.

Presidency spokesperson Vincent Magwenya posted a message to Twitter on Sunday announcing the cancellation.
When all else fails, read the instructions.

Boac
Chief Pilot
Chief Pilot
Posts: 17199
Joined: Fri Aug 28, 2015 5:12 pm
Location: Here

Re: The Great Economic Reset

#124 Post by Boac » Thu Jan 19, 2023 1:15 pm

I would doubt that anyone here thinks we do not need an 'economic reset' of some sort with spiralling debt, but is there any alternative to the WEF to produce one?

User avatar
Fox3WheresMyBanana
Chief Pilot
Chief Pilot
Posts: 12979
Joined: Thu Sep 03, 2015 9:51 pm
Location: Great White North
Gender:
Age: 61

Re: The Great Economic Reset

#125 Post by Fox3WheresMyBanana » Thu Jan 19, 2023 2:48 pm

People not voting for politicians who are corrupt, cowardly idiots?

Boac
Chief Pilot
Chief Pilot
Posts: 17199
Joined: Fri Aug 28, 2015 5:12 pm
Location: Here

Re: The Great Economic Reset

#126 Post by Boac » Thu Jan 19, 2023 3:06 pm

Sweet dreams. If you find any, let us know.

User avatar
Fox3WheresMyBanana
Chief Pilot
Chief Pilot
Posts: 12979
Joined: Thu Sep 03, 2015 9:51 pm
Location: Great White North
Gender:
Age: 61

Re: The Great Economic Reset

#127 Post by Fox3WheresMyBanana » Thu Jan 19, 2023 3:18 pm

That was my point.
It's the root cause of the problem that no one knows how to fix.

My personal view is that humans evolved to cope well with a constant level of real, apparent threats, of varying levels of both risk and severity. The solutions were provided to small-ish groups (under Dunbar's Number) by a single, strong leader. Everything in human physiology and psychology is geared to respond in this manner.
However, none of this works with mostly comfortable lives in very large groups faced by long term, complex, esoteric problems like global economics, or pandemics. And especially stuff that requires calculus and formal operational thinking*.


* https://www.simplypsychology.org/formal ... ional.html

Boac
Chief Pilot
Chief Pilot
Posts: 17199
Joined: Fri Aug 28, 2015 5:12 pm
Location: Here

Re: The Great Economic Reset

#128 Post by Boac » Thu Jan 19, 2023 3:49 pm

So - is BM's mate the answer?

PHXPhlyer
Chief Pilot
Chief Pilot
Posts: 8239
Joined: Sun Jun 17, 2018 2:56 pm
Location: PHX
Gender:
Age: 69

Re: The Great Economic Reset

#129 Post by PHXPhlyer » Thu Jan 19, 2023 3:59 pm

Dunbar's Number

Never heard of it til now.
Makes sense though.

PP

User avatar
Fox3WheresMyBanana
Chief Pilot
Chief Pilot
Posts: 12979
Joined: Thu Sep 03, 2015 9:51 pm
Location: Great White North
Gender:
Age: 61

Re: The Great Economic Reset

#130 Post by Fox3WheresMyBanana » Thu Jan 19, 2023 7:49 pm

So - is BM's mate the answer?
Only capable people want a meritocracy*.
Everyone else wants a whatever-I-am-ocracy.
Klaus wants a rich-people-with-influence-ocracy

But without a meritocracy, collapse is guaranteed at some point, because just surviving is hard sometimes. Great PR without actual capability means a civilization will expand faster than it can sustain long term.

Like every kind of explosion or collapse, the trick is to be nowhere near it when it happens, with plausable deniability.



*Except after the crisis has happened, then with death staring them in the face, many will actual follow a leader who knows what they are doing. But many will still follow those who say they have all the answers.

Boac
Chief Pilot
Chief Pilot
Posts: 17199
Joined: Fri Aug 28, 2015 5:12 pm
Location: Here

Re: The Great Economic Reset

#131 Post by Boac » Thu Jan 19, 2023 9:28 pm

I wrote:I would doubt that anyone here thinks we do not need an 'economic reset' of some sort
Well, Fox, loads of negatives, but I still don't know if you are 'one' of 'anyone here'. You are certainly the only other one! Do I assume other members are happy with the way the world economy functions?

User avatar
Fox3WheresMyBanana
Chief Pilot
Chief Pilot
Posts: 12979
Joined: Thu Sep 03, 2015 9:51 pm
Location: Great White North
Gender:
Age: 61

Re: The Great Economic Reset

#132 Post by Fox3WheresMyBanana » Thu Jan 19, 2023 9:41 pm

As with the climate change thread, it is because I do not think the way you phrased the question is valid.
It does not matter whether I think one is needed or not, there is going to be a big economic change, and soon.
As for Klaus, I do not think the WEF is going to get any of what it wants. This is independent of whether or not they may have deliberately been trying to change things.

US Savings vs Credit Card Debt, end Dec 2022
savings vs credit card.jpg
Note that the savings rate includes zero, and is therefore about 1/4 of what it was pre-pandemic.
Bear in mind also that the credit card average interest rate is 19% vs 15% pre-pandemic.

Boac
Chief Pilot
Chief Pilot
Posts: 17199
Joined: Fri Aug 28, 2015 5:12 pm
Location: Here

Re: The Great Economic Reset

#133 Post by Boac » Thu Jan 19, 2023 9:49 pm

OK - I hope I can phrase this question satisfactorily: You said "there is going to be a big economic change, and soon." Why and what?

User avatar
Fox3WheresMyBanana
Chief Pilot
Chief Pilot
Posts: 12979
Joined: Thu Sep 03, 2015 9:51 pm
Location: Great White North
Gender:
Age: 61

Re: The Great Economic Reset

#134 Post by Fox3WheresMyBanana » Thu Jan 19, 2023 10:03 pm

Why: In simple terms, nobody's got any money. And the world economy is now essentially consumer-based.
I mean, obviously the ultra-rich have got huge amounts of money, but a billionaire isn't in the market for the same goods that most people are.
In the last two years, costs of essentials (food, rent, energy) for everyone earning under $100k have risen 20%, and 50% of them were living paycheck-to-paycheck before then.
Public services are collapsing before our eyes; health, policing, education, etc.
I do not use the word collapse lightly. Obviously there are parts of the world where some of these are still OK, but not most of them for the majority.

As to what comes next, I have no idea at all.
We should also bear in mind that the last five forecasts by the Fed, BoE, etc on inflation have been horribly wrong. So governments don't know either.
The world hasn't been here before.
Not this large a size of population, this high a level of complexity, or this low a level of resilience.
Any historian will tell you that to try to predict what happens next from prior experience is pointless given these changes, and I have asked a couple.
And I haven't lived somewhere "typical" for 15 years, so my anecdotal evidence is irrelevant.
I do not think life will change much where I am, which is one reason I'm here.
I think life will change hugely in big cities, especially in Europe and the USA, which is one reason I'm not in one.

User avatar
Fox3WheresMyBanana
Chief Pilot
Chief Pilot
Posts: 12979
Joined: Thu Sep 03, 2015 9:51 pm
Location: Great White North
Gender:
Age: 61

Re: The Great Economic Reset

#135 Post by Fox3WheresMyBanana » Fri Jan 20, 2023 3:48 pm

My local Co-op gets most of its stuff from the rough equivalent of Sainsburys in terms of price vs quality.
However, they have significantly increased the locally sourced stuff in the last 3 months.
All of it is top quality stuff from, wrt the stuff I know about, local producers within 10 km.
And it is hugely cheaper than anywhere else, and significantly cheaper even than pre-pandemic prices.
Today's addition was peameal (aka Canadian) bacon, at six pounds a kilo, vs sixteen pounds a kilo in a UK Waitrose, and ten pounds a kilo in the big box supermarkets here.
Also Sole fillets, same pricing.
What's interesting is I think they are trying to hide the pricing from the big box store, who probably have some kind of pricing agreement with them.
It's all priced with locally printed white labels.
The bacon comes in a chub, so you have to slice it yourself.
The sole has no weight marked on it, just a price.
Cheese is weighed, but there's always a This Store Only discount of around 30%, even for brand new stock.
Indeed, every locally sourced item has some trick like this that means it can't be directly compared with the big box products. And they have all the prep gear in the back of the store, so this is obviously deliberate.
Anything like this happening near you?

User avatar
OFSO
Chief Pilot
Chief Pilot
Posts: 18597
Joined: Sat Aug 22, 2015 6:39 pm
Location: Teddington UK and Roses Catalunia
Gender:
Age: 80

Re: The Great Economic Reset

#136 Post by OFSO » Fri Jan 20, 2023 5:20 pm

All of the supermarkets here, even Aldi and Lidl, are tourist oriented. Open long hours, Sundays and Feast days, and are darned expensive and getting even more so.
Except one: the Spanish chain Mercadonna. Shuts Sundays and holidays, low prices, and amazingly always a smile from the cashiers.
Used to be signs up stating beef ect was sourced locally and not from France. What does that tell you about the only country that's never had a case of Mad Cow Disease.

User avatar
barkingmad
Chief Pilot
Chief Pilot
Posts: 5497
Joined: Mon Nov 02, 2015 9:13 pm
Location: Another Planet
Gender:
Age: 75

Re: The Great Economic Reset

#137 Post by barkingmad » Sun Jan 22, 2023 9:23 am

“You will own nothing and you will be happy”.

Well, no surprise there then if all you’ve done is to rent the young lady and enjoy the fruits of your deposit by, er, making a deposit and having a happy ending?

https://www.dailymail.co.uk/news/articl ... r-sex.html

Mind you, that dancing manoeuvre performed by partygoers, when forefingers are regularly pointed at the ceiling, might just cause the booking system to crash?

Let’s hope that lovely sad Klaus Von KnobSchwab gets some of the action, free on the house and tax-deductible, as he always looks sooh serious, troubled and melancholy... :)) =))

User avatar
Woody
Chief Pilot
Chief Pilot
Posts: 10244
Joined: Tue Aug 25, 2015 6:33 pm
Location: Sir Kenny Dalglish Stand
Age: 59

Re: The Great Economic Reset

#138 Post by Woody » Mon Jan 23, 2023 9:48 pm

Another attempt at discrediting it’s own readership :))

When all else fails, read the instructions.

User avatar
Woody
Chief Pilot
Chief Pilot
Posts: 10244
Joined: Tue Aug 25, 2015 6:33 pm
Location: Sir Kenny Dalglish Stand
Age: 59

Re: The Great Economic Reset

#139 Post by Woody » Thu Jan 26, 2023 10:53 am

Image
When all else fails, read the instructions.

User avatar
OFSO
Chief Pilot
Chief Pilot
Posts: 18597
Joined: Sat Aug 22, 2015 6:39 pm
Location: Teddington UK and Roses Catalunia
Gender:
Age: 80

Re: The Great Economic Reset

#140 Post by OFSO » Thu Jan 26, 2023 12:26 pm

Those 11 million pensioners are not getting something for nothing. They - we - are getting back what they paid in.....

Post Reply