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  1. #61
    Banned GennGreymane's Avatar
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    Quote Originally Posted by Nixx View Post
    I took the basic macro course in college, so I know how to bitch about fancy things like tariffs.
    I took a few (it was my minor off my double major, and I lucked out with my Professor who did an economic focus with his politcs classes that they counted as credits for both departments)

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    Quote Originally Posted by Varaben View Post
    I got through college and grad school with 2 economics classes. One was like 9 weeks long in high school and the other was 10 weeks long in undergrad and I remember none of it. So it's not like we teach people economics in the US; we shouldn't be surprised no one knows anything about it.

    People think the president controls the price of gas (they can influence it through policies of course), the debt will be reduced by reducing taxes, and that wealth will trickle down to the lowest workers. All of which flies in the face of facts and data. But when you don't come to your conclusion by using data, new data won't sway you from your conclusion. And unfortunately, the US population seems to be largely unable to understand basic economics.

    Another thread said that the average American (it had a source but I'm CBA to find it) had something like $16k in credit card debt. That's pretty insane.
    I have 500 in credit card debt by choice. mostly to build credit, but can be paid off if I want to. I do usually buy in cash though as habit. I just do not understand how people can rack up to 16k. I currently do wotk in my law schools tax clinic, and its insane how much money people spend on credit cards.

  2. #62
    Quote Originally Posted by Machismo View Post
    The same goes for old people on Social Security.
    Big difference social security is earned...
    I am not pro Flight, I am pro a better more engaging game. I just took the pro flight stance cause I knew Blizzard couldn't deliver. Looks like I was right

  3. #63
    Banned GennGreymane's Avatar
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    Quote Originally Posted by Maneo View Post
    Big difference social security is earned...
    hah haaaaa

    thats where you're wrong kiddo.

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    Quote Originally Posted by Nixx View Post
    One of my projects over the semester is to start working on the stack of books I've accumulated. I bought Capitalism and Freedom, The Wealth of Nations, and The General Theory of Employment, Interest, and Money, so I'll know how to bitch about even fancier things as I wield complex economic topics with all the skill and precision of an infant using a spoon.
    Thats all you really need to get most people to listen.

  4. #64
    Quote Originally Posted by GennGreymane View Post
    hah haaaaa

    thats where you're wrong kiddo.
    Unless you are getting SSI, you had to have worked a significant number of years to receive SSDI (disability) and for social security it isn't till you what.. 67.

    Now what is the amount you receive based on? The amount you earned and put into the system. Now if that system is poorly managed and planned out (it is) that is another issue all together.

    Simply truth is Social Security (beyond SSI 600 dollars a month) is earned.

    All these lovely social programs are only earned if you think earning is having a pulse and cranking out kids... big difference

    One group worked for it one did not.

    Kiddo .. hell I am probably older then you.. I am already retired (not from social security not old enough)
    I am not pro Flight, I am pro a better more engaging game. I just took the pro flight stance cause I knew Blizzard couldn't deliver. Looks like I was right

  5. #65
    Banned GennGreymane's Avatar
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    Quote Originally Posted by Maneo View Post
    Unless you are getting SSI, you had to have worked a significant number of years to receive SSDI (disability) and for social security it isn't till you what.. 67.

    Now what is the amount you receive based on? The amount you earned and put into the system. Now if that system is poorly managed and planned out (it is) that is another issue all together.

    Simply truth is Social Security (beyond SSI 600 dollars a month) is earned.

    All these lovely social programs are only earned if you think earning is having a pulse and cranking out kids... big difference

    One group worked for it one did not.

    Kiddo .. hell I am probably older then you.. I am already retired (not from social security not old enough)
    Its a meme saying Gramps.

  6. #66
    Quote Originally Posted by GennGreymane View Post
    Except wage slavery leads to people not buying, which is an issue in those countries outsourced to, and is an issue in the U.S, that's why you are seeing lower quality goods created in a capitalistic system. My argument is only missing something because you fell asleep after the first day of business management 101, where they spend the first 5 minutes talking about supply and demand.
    Wage slavery doesn't matter if you can ship your goods to a place where they can pay for it (U.S. / China relationship). Lower quality goods are created to maintain some kind of survivable situation. But, an excess of higher quality goods or luxury goods is created for the rich who have money to burn and that is where the profit is. A class of goods for the poor (China) and a class for the rich (U.S.).

    Individual businesses, even multinationals have no incentive to create a standard of living for their employees beyond what keeps them functional in their job. If they can replace you with something or someone cheaper they will. Deciding to raise wages to improve buying power is not something a business can do individually. There would have to be a collective effort.

    The absolute efficiency that business competition strives for is an ugly situation and certainly isn't one anyone would enjoy being a part of, with the exception of those who own it.
    Last edited by Zmaniac17; 2016-12-13 at 05:06 PM.

  7. #67
    Quote Originally Posted by GennGreymane View Post
    It seems that most rhetoric from the average worker now a days is to have mercantilism. It is seen by many as a way to protect jobs and keep the even foreigners away from them.

    What Mercantilism is summed to be is economic nationalism, where the government heavily regulates trade with other nations. Mercantilism consisted of forbidding colonies to trade with other nations, monopolizing markets with staple port, banning the export of gold and silver, even for payments, forbidding, trade to be carried in foreign ships, subsidies on exports, promoting manufacturing through research or direct subsidies, limiting wages, maximizing the use of domestic resources, and restricting domestic consumption through non-tariff barriers to trade.

    However, the biggest flaw of Mercantilism was its lack of efficiency. For example, due to not importing goods, you are indirectly or directly subsidizing inefficient industries. Inefficient industries tend to be produce goods at a higher cost and will therefore cost the regular person more money. Other issues include giving the government more power to regulate which would stifle competition.

    Of course I could write a thesis on this, but I felt like giving a small blurb.
    This is the most we have ever seen you type, as it is. Usually, you just link a click bait article and then walk away.

    The public is stupid. That is why EVERY government on THIS planet, has taken steps to limit their damage.

  8. #68
    The Insane Aeula's Avatar
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    Seems to be the 'safest' and most stable of the options. Might be a way to modernise it so it isn't so restrictive and punishing to the lower classes.

  9. #69
    Quote Originally Posted by Maneo View Post
    Big difference social security is earned...
    So is unemployment and food stamps, technically.

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