News COVID-19 pandemic

[Linguofreak]

You know, the same people complain about the federal reserve printing money as they like.



The federal reserve can only collapse organisationally - if an epidemic makes too many employees unable to work. But they can never get bankrupt. For that, the USA would have to collapse first.

Well, arguably, printing money to pay off debt is just a sneaky way of defaulting, and when enough people wise up to what you're doing, the result is the same: they hike up the interest rate when they offer you credit, and eventually, if it gets bad enough, they stop lending to you because they can't get any ROI.

So the Federal Reserve may not ever officially go bankrupt, but eventually US federal bonds will be junk-grade.

Now, that's not to say that, in my opinion, we shouldn't be spending money on COVID relief, just that we should have been spending responsibly before so that we'd be in a halfways solvent state going in to such an emergency.

 

[richfororbit]

Mr Paul believes in a balanced budget, that no government can just print money as you mentioned it must be in legal silver and gold, obviously that wouldn't work in today's world, I guess very much so, that was the point about the clip I posted.

In the UK, the bank of England can print money too and has done a number of times in recent memory.

Some say the covid threat is quite bad, and some don't think it is so. Mr Paul or MCAdams don't seem to even sit two meters apart in their clips.

 

[Urwumpe]

Mr Paul believes in a balanced budget, that no government can just print money as you mentioned it must be in legal silver and gold, obviously that wouldn't work in today's world, I guess very much so, that was the point about the clip I posted.

Yes, those who are not learning from history are condemned to repeat it.

 

[jedidia]

that no government can just print money as you mentioned it must be in legal silver and gold, obviously that wouldn't work in today's world

Trouble is, it never worked in any world. The concept of a completely backed currency was a quaint idea that went out the window as soon as people realised that you could lend out more money than you had. Which was waaaaay before anybody had the idea of paper money. Fiat currency is merely an extension of that concept that took a couple of centuries to emerge.

 

[Urwumpe]

Trouble is, it never worked in any world. The concept of a completely backed currency was a quaint idea that went out the window as soon as people realised that you could lend out more money than you had. Which was waaaaay before anybody had the idea of paper money. Fiat currency is merely an extension of that concept that took a couple of centuries to emerge.

Also it failed that in the time, when you badly needed more liquidity for economic growth, you first of all had to get gold. And as usual: When you have economic growth and need gold, others needed that too...

 

[jedidia]

When you have economic growth and need gold, others needed that too...

Not to mention that this then usually results in somebody having the bright idea to go get somebody elses... :shifty:

 

[Urwumpe]

Not to mention that this then usually results in somebody having the bright idea to go get somebody elses... :shifty:

Exactly that... is no big surprise that the Gold Standard became popular with colonization and imperialism. Of course, some people like to get back to that...

 

[Ripley]

Tesla and Elon Musk reopen California facility, defying orders meant to stem coronavirus spread

https://edition.cnn.com/2020/05/11/cars/elon-musk-tesla-factory-tweet/index.html

 

[Urwumpe]

Tesla and Elon Musk reopen California facility, defying orders meant to stem coronavirus spread

https://edition.cnn.com/2020/05/11/cars/elon-musk-tesla-factory-tweet/index.html

Well, the rest of the car industry does the same in the USA... well, except all those under the iron fist of the UAW.

 

[insanity]

Tesla and Elon Musk reopen California facility, defying orders meant to stem coronavirus spread

https://edition.cnn.com/2020/05/11/cars/elon-musk-tesla-factory-tweet/index.html

I live in Alameda County and this enrages me. His and his stockholder's networth could go slightly down so he is willing to break the law and put the safety of his workers on the line.

When his workers get sick and need COVID assistance, you better believe that the county and state governments are going to step in to cover testing and tracing meaning he is shifting the burden of risk on to the taxpayers so he can make more money.

All he had to do was submit a plan and work in the proper channels and he'd be opening up next week in a responsible way.

 

[Urwumpe]

His and his stockholder's networth could go slightly down

Well as far as the recent rumors go, has has little more than that. Not much other wealth or liquidity. He also can't sell much of it, since he has to keep 20% of Tesla to remain in control there.

 

[insanity]

Well as far as the recent rumors go, has has little more than that. Not much other wealth or liquidity. He also can't sell much of it, since he has to keep 20% of Tesla to remain in control there.

Poor X Æ A-12... without his parent's billions, he might actually have to go to a school where kids make fun of his name.

 

[4throck]

Meanwhile in Portugal... new vegan mask style:

 

[Notebook]

Summary
The World Health Organization warns Covid-19 may be here to stay

The UK economy contracted by 2% in the first three months of the year, official figures show
Housing minister Robert Jenrick defends the UK government's record on care homes following criticism
UK says it has missed its 100,000 tests target again
People in England who cannot work from home have been encouraged to return to their workplaces
Unlimited exercise, meeting a friend at the park and moving house are also now allowed, under new rules

Ex-Trump aide Paul Manafort has been released from prison to serve sentence at home amid virus fears
The US says it will not use a batch of Russian ventilators, pending inquiries after two deadly hospital fires

https://www.bbc.com/news/live/world-52642895

 

[Urwumpe]

Poor X Æ A-12... without his parent's billions, he might actually have to go to a school where kids make fun of his name.

Seriously, with such a name, there is little you can do with your life except going to the circus...

 

[Thunder Chicken]

Seriously, with such a name, there is little you can do with your life except going to the circus...

Or enter yourself in the next industrial competition to become the next U.S. Air Force stealth attack aircraft.

 

[jedidia]

Poor X Æ A-12... without his parent's billions, he might actually have to go to a school where kids make fun of his name.

You mean rich kids don't make fun of names? :shifty:

 

[Frilock]

In Wisconsin, our state supreme court just overturned our stay at home order. The following is a tweet from a bar owner who was begging to reopen, promising to respect social distancing guidelines:

[ame]http://twitter.com/nicksonsec/status/1260746591918608386[/ame]

 

[Marijn]

Parents restrict the carreer opportunities of their child at the moment they choose a name.

My first name, Marijn, happens to be a name for both boys and girls in Dutch. But it was a mistake. My parents intended to name me 'Martijn', which is a typical Dutch boys name. My dad didn't check it properly when they did the paperwork when I was born. He simply didn't notice the missing 't'.

So the first 20 years of my life I was called Martijn. Until the moment I had to apply for jobs. I learned that the name 'Marijn' has many advantages and is much more favorable to get an invitation for a job. So I took on my real name from then on. I always make sure in every job application letter that I never reveal my true gender so they don't know whether I am a boy or a girl. That makes the HR folks curious and increases the chances for getting an invitation.

 

[Artlav]

I learned that the name 'Marijn' has many advantages and is much more favorable to get an invitation for a job.

What makes it advantageous?