Generational Dynamics Forum - New Site

vincecate wrote: Thu Apr 01, 2021 9:03 am Look at the Dollar and the World Reserve Currency as a "Game Theory" thing. What is the best move for individuals in the face of the likely destruction of the US dollar as they print trillions of new dollars? What will the new Nash Equilibrium be?

https://en.wikipedia.org/wiki/Nash_equilibrium

They did $1.9 trillion this past month and are working on another $2 trillion with another $1 trillion after that. They will keep doing this till something breaks. It will break as a "death spiral" or "positive feedback loop" that can not be stopped. Can you see this going any other way? What will break? What will happen after that?

http://howfiatdies.blogspot.com/2013/09 ... -many.html

To me it looks like the best move for individuals is to sell dollars and buy Bitcoin. If everyone does this the dollar will become worthless and we will all use Bitcoin. What other ways can people imagine the game going?

Cool Breeze wrote: Thu Apr 01, 2021 10:04 am How many years will it take get through to you? You can't be this dumb.

John wrote: Thu Apr 01, 2021 10:45 am ** 01-Apr-2021 World View: Shocking economist - Michael T Lee

I see mainstream economists on tv all the time, and they all say the
same thing -- Fed printing money, too much money chasing too few
goods, inflation coming, blah, blah, blah. What the hell is wrong
with these people? They've been saying the same thing over and over
for 20 years, and they've been wrong every time. How stupid do you
have to be to say the same stupid thing over and over, and be wrong
every time, and still say the same stupid thing over and over.

So imagine my shock and bewilderment when I saw an economist on TV who
actually knew what he was talking about.

Michael T Lee appeared on Varney and Company on Fox Business Network
this morning, on the subject of inflation, and explaining why there
won't be inflation. He traced the velocity of money back to the
financial crisis, and went into details about how the Fed's printed
money is going into "the zone," which I assume means banks and
financial firms, but because of regulations cannot be lent out, and so
cannot contribute to inflation.

This interview was a double shock for me. First, he's an economist
who knows what he's talking about, and that makes him unique among the
other mainstream economists who are on all the time, and who are all
idiots. And second, it's always an enormous shock to me to hear
somebody who agrees with me. I wonder if he's seen my web site?

Anyway, I checked out his web site, and it's pretty sparse, and not
being kept up to date. However, he does have one page of videos of
various appearances on Fox Business Network:

https://www.michaelleestrategy.com/clients

I assume that this morning's interview will appear on that page
sometime soon, and when it does, it will be worthwhile watching.

John wrote: Thu Apr 01, 2021 10:45 am I see mainstream economists on tv all the time, and they all say the
same thing -- Fed printing money, too much money chasing too few
goods, inflation coming, blah, blah, blah. What the hell is wrong
with these people? They've been saying the same thing over and over
for 20 years, and they've been wrong every time. How stupid do you
have to be to say the same stupid thing over and over, and be wrong
every time, and still say the same stupid thing over and over.

Cool Breeze wrote: Thu Apr 01, 2021 1:23 pm > You should seek out Lacy Hunt. He has been saying this for over a
> decade. Steven Van Metre and Brent Johnson more recently.

Cool Breeze wrote: Thu Apr 01, 2021 1:23 pm > The problem is that it can change on a dime with legislation or
> manipulation by Fed Chairs (which would only happen after Powell,
> if it did, btw). But yes, deflation (or disinflation) reigns until
> ... it doesn't. That happens quickly, and is the caveat to your
> argument John, which I've always agreed with.

vincecate wrote: Thu Apr 01, 2021 1:58 pm > The "run away inflation" problem does not happen every year but
> when it does it can wipe people out very fast.

vincecate wrote: Thu Apr 01, 2021 1:58 pm > John, want to make a "bragging rights bet" where I say the US gets
> a year with over 10% annual inflation rate sometime in the next 8
> years and you say it wont? We can use CPI or some other index if
> you want.

Cool Breeze wrote: Thu Apr 01, 2021 10:04 am

Higgenbotham wrote: Thu Apr 01, 2021 9:29 am The top of the "all one market" bubble appears to be at hand. Bitcoin is the poster child for this bubble.

Prove it. Oh wait, you won't answer again? Great job, Higgy. The onus is on YOU to prove your assertions. Not anyone else.

John wrote: Thu Apr 01, 2021 2:06 pm Oh for heaven's sake, no it can't change on a dime. Don't you ever
learn? Inflation now is impossible, for reasons I've given many
times, and for reasons stated in the Michael Lee interview.

The irony is that you think that inflation can change on a dime, which
it can't, but that bitcoin cannot change on a dime, which it can.