₦airaland Forum

raumdeuter:
When you look from that time till now and see how prosperous and stable the US has been in terms of external aggression will see that its a worthy investment in our defence

That amount is why you can go out work move the economy to be the biggest in the world and where you are safe too

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It remains a pointer to what the USA can afford.

raumdeuter:
The cash printing was a very ignorant idea. That wont pass a 6yr old economics class and ridiculed anything you could have posted.

Its crayon eating economics

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I disagree and I note that you never responded to my explanatory post on it.
Y'all tend to ignore detailed posts thats why I often feel its not worth the effort.

raumdeuter:
The war is what keeps us safe here to be prosperous in the first place. A nation without defence is no nation

Like I said show us where the money comes from. Should they tax more. Its ignorant to claim a nation can just print more money to spend on welfare

The US already has welfare that is reasonable. It does not need more

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I remind you that I said quantitative easing as well, which is not cash printing.

GloriousGbola:
https://www.archives.gov/milestone-documents/president-dwight-d-eisenhowers-farewell-address

https://en.wikipedia.org/wiki/Military%E2%80%93industrial_complex

Proxmire

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U keep on increasing the blessing due to your spiritual account good sir.

Raumdeuter please take note of this.

For ease of reference, I extract from that link, the words of Eisenhower -

"A vital element in keeping the peace is our military establishment. Our arms must be mighty, ready for instant action, so that no potential aggressor may be tempted to risk his own destruction. . . . American makers of plowshares could, with time and as required, make swords as well. But now we can no longer risk emergency improvisation of national defense; we have been compelled to create a permanent armaments industry of vast proportions. . . . This conjunction of an immense military establishment and a large arms industry is new in the American experience. . . .Yet we must not fail to comprehend its grave implications. . . . In the councils of government, we must guard against the acquisition of unwarranted influence, whether sought or unsought, by the military-industrial complex. The potential for the disastrous rise of misplaced power exists and will persist."

LordReed posted a clip of Carl Sagan talking about the trillions of dollars spent by the USA in chasing cold war threats that never materialized some days ago.

Not saying security is not important but anyone who has a remote idea of what is spent by the US will know that it is silly to suggest that it cannot afford reasonable welfare programs. It most certainly can. Over and over again.

raumdeuter:
US govt income is primarily from taxes. So how will the govt afford to pay for these welfare you desire?

Increase taxes? Or where? The top federal tax is 37% some states charge up to another 13% state tax, plus property tax, sales tax etc

So how much more of their income shoupd they pay up? 70% of their income, 80% or 100%

Instead of emotionally spazzing out tell where the money will come from

All those who want more taxes find it convenient to exclude themselves from those who should pay more

There is a reason why the US is the top destination for most people in the world and top innovators surely its not because they impose heavy taxes for welfare

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Wherever the money for needless wars comes from is a good start.

However beyond that, it is ignorant to argue that the USA cannot afford reasonable (not excessive) welfare schemes.

raumdeuter:
So explain simply will you offer to pay more in taxes to afford what you clamor for? Or who should pay for it. All the welfare you want who pays for it

Or should govt just print money to pay for it like you suggested

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Combo of all possible resources including tax of course.
Please note that the income of governments are not limited to tax alone.

Quit asking who should pay for it as though it is charity. It is not charity. It is insurance for everyone. You paying that tax today could be the one in need tomorrow as very often happens.

basilico:
Cross Posted.

I prefer the views of those affected directly by the Iran war ,not the lords of doom here.

Message from Saudi Petroleum expert, Dr. Mansour Al-Malik, Energy consultant and Professor at KSA University

"Thank you, Your Excellency President Trump

The question today is not who started the confrontation… but who stopped the danger before it grew larger.

1- Thank you, Your Excellency President Trump… because you understood what many ignored for years, that the Iranian threat was not theoretical nor media-driven, but missiles being manufactured, drones being stockpiled, cells being planted, and an expansion project awaiting the moment to pounce.

2- Thank you because you were not deceived by the peace slogans raised by day, while weapons were being shipped at night to the Popular Mobilization Forces, Hezbollah, and the cross-border militias.

3- Thank you because you realized that every day of delay was not a day for de-escalation… but an additional day in missile factories, a new day in uranium enrichment, and another day in training proxies.

4- Thank you because you read the history of the region well, and knew that those who bombed embassies, hijacked planes, threatened navigation, and struck oil facilities are not deterred by a statement of condemnation or a diplomatic smile.

5- Thank you because you knew that the security of the Gulf is not merely a local matter, but a pillar of global economic stability, and that targeting Riyadh or Abu Dhabi or Kuwait or Manama or Doha is an attack on energy, trade, and markets around the world.

6- Thank you because you did not wait until Iran became a nuclear power imposing its conditions on everyone, making its deterrence more costly and more dangerous.

7- Thank you because you distinguished between the noble Iranian people, who deserve life and prosperity, and the regime that spent its wealth on militias instead of schools and hospitals.

8- Thank you because you exposed the falsehood of what is called the Axis of Resistance, which raised slogans for decades while its rifles were aimed at Arab capitals more than at its declared enemies.

9- Thank you because you proved that firmness is sometimes the shortest path to peace, and that prolonged hesitation may breed a greater war in the future.

10- Thank you because you gave the peoples of the region hope that the era of blackmail with missiles and drones is not an eternal fate.

11- Thank you because you said in the language of power what years of fruitless negotiations failed to achieve: that the security of allied nations and their sovereignty are red lines.

12- Thank you because you sent a clear message to all who think of threatening their neighbors, that the world may be patient… but it does not forget.

13- Thank you because you stood with your allies when they needed a stance, not just words.

14- Thank you because you understood that stability is not made by those who fund chaos, but by those who deter it.

15- And finally, thank you… because you made many review their calculations, and realize that the time of recklessness may be long… but it does not last.

As for us in the Gulf… we want real peace, the peace of nations not the peace of militias, the peace of development not the peace of fear, the peace of the future not the peace of slogans. "

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Sadly, once presented with a counter view from an equally placed person or even a better placed person, you will go silent and pretend not to have seen it.

raumdeuter:
The emtional long winded post aside, The fact of the matter is Who will pay for it

Will you offer to pay more in taxes so that these desires of yours can be done? If yes, why havent you been paying more taxes for it or you are just virtue signaling?

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Firstly, what emotional long winded post?
Secondly do you not understand that there are practical reasons for societies to invest in welfare other than just emotions?
Thirdly, what is wrong with emotions of compassion and empathy for compatriots within the socio economy of a nation-state? Are we robots of human beings?

urchman3000:
[Data boy. You don cast . Nobody takes you serious again ]The cankerworm ADC should stop the joke

Was it not just yesterday, Atiku threw jabs at Kwankwanso, Today, it's Amaechi's turn to throw jabs at Atiku and Peter Obi

Perhaps tomorrow, it would be the turn of Obi or Kwankwanso to return the jabs at each other.

Imagine the disorganized opposition that want to take Power in 2027 when the election is even less than a year

The Ajoka Dem

This is normal competition before primaries to select a flag bearer.

basilico:
I don't take everything at face value , you might call that a problem. Especially when it comes from sources sworn to destroy Trump.
Kristie Noem, I quickly pointed out she had awarded a week old company millions of dollars to run the ad.

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Did you see anything wrong with her handling of ICE.

Kash Patel .. I don't think he has the cojones to drain the swamp.

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What swamp? Because when people say "drain the swamp" they are sometimes talking about different things.

So go ahead and tell me why Hegseth is incompetent.

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I sincerely think it will be a waste of time.

basilico:
It's good to be specific on why he is a failure. I might have missed it by assuming it'all part of internal abd external sabotage.

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What's the point. You turned out to be the normal Trumpist. You will not see reason.

You probably defended Noem and Bondi until they were fired.

basilico:
The problem with his appointment is that retired generals think they are the only ones who should get that position. With their influence they have tried to sabotage him so some of the hate you read is an ongoing effort to remove him.

The IC has been going after Tulsi Gabbard too.

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Sabotage? Hate? The fella needs no sabotage from anyone else to destroy himself.

basilico:
Hegseth is doing a fine job. Correcting injustices is one way of improving troop morale.

Now it's being said the US has a new weapon they used in Venezuela and possibly in this latest pilot rescue. Directed Energy Weapon. Beam it like a torch from low flying plane or helicopter from above and those caught up become zombies not knowing where their right hands are.
I expect you to say without this weapon , Hegseth missions would have had casualties and so he is a failure
Was you born with hate or did it grow over the years?
(Hint: I know a lot about military weapons). You can save yourself grief if you learn to tell when I'm serious.

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He is a comedian.

basilico:
The Charges: He was convicted of the illegal possession and public discharge of a firearm, stemming from a 2018 incident where he fired a semi-automatic rifle during the EFF's fifth-anniversary celebrations
Malema gives Africans a bad name
This case was filed in 2018. Sentencing was yesterday.

You know I have to insert Trump😉😉😉

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I mean Trump said he should be charged for the chant. Not for firing any rifle.

budaatum:
One of the Chief Priests of maga and the tea party that preceded it was Ayn Rand. She railed against handouts to the poor until she needed handouts herself. And the only reason she's not mentioned much anymore is her hypocrisy.

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There we go. And there are many many many other such tales.

budaatum:
The bold is not true.

The more they print, the more their currency loses value, and the more those they borrow from demand higher interest.

USA is currently replacing sub 1% T-bills repayable in less than a year, for post 4% bonds repayable in 5-30 years, because lenders are demanding more to mitigate inflation.

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All boils down to management, it has to be carefully done.
As explained in my longer post, the USA/ the dollar has luxuries in this regard compared to other economies/ currencies.

basilico:
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Trump had asked Ramaphosa at the WH why Malema had not been charged

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Not for firing the rifle.
For the chant "kill the boer"

benalvino3:
My barber just finished my hair, I had to pay tax for it

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He must be skilled.
Cant be easy making sure the clipper didnt cut through empty space beneath the hair.

basilico:
She would agree with me that the Lord worked through Hegseth

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And so?

cococandy:
Damn. I hope all is well now. Wish you the best!

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All is well by grace. But it is very very instructive especially for the middle aged to the elderly and those who must give care to loved ones.

cococandy:
No, they’re too macho and they’ve got life all figured out.
As a healthcare professional, I can tell them for free.99 that it takes only one health accident for all the perfect planning in the world to go down the drain.

Even those insurance company CEOs they bootlick will kick them to curb so fast they won’t even be able finish a sentence before they hit the concrete.

One misplaced blood clot. One mutation in the wrong cell. One accidentally torn blood vessel. Then they’ll understand how someone who has worked a good job their whole life, pays their monthly insurance premium and saved a bunch of money can all of sudden be left with absolutely nothing.

The family members will have to decide to put them in a care home (that they can’t afford btw) or stay at home and take care of them indefinitely. It’s also the people in their conservative camp that will turn around and call said family member lazy and dependent on welfare.

When the only choice they have is to work a job that doesn’t cover the care fees of their loved ones or stay home and receive benefits such as food stamps so they can at least be available for their sick family and have food while at it. And this is just one tiny example.

But what do I know? I don’t know what I’m talking about. I’ve only seen this happen a few hundred times in my >decade of being a nurse. Definitely not an informed opinion by any means. Just a bleeding heart liberal here 😒

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Vert well said. Deep. This is so so so so so true, and i relate personally with it. One sudden illness is all it takes.
And i have seen those who scoffed at the needy as lazy finally realize their folly when the table turned on them.

basilico:
Yes China is a developing economy according to WTO. It's exports qualify for lower tariffs within the WTO framework.

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Call it whatever, but that it will overtake the USA is a given.

Besides, note that the WTO allows countries to self-designate. And there are benefits to self designating as developing.
Neither the World Bank nor the IMF class China as such.

basilico:
The EU is more trustworthy than anything Putin , Xi Jinpin could ever come up with. In the first case those are developing economies

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You are still calling China a developing economy? Okay oh.
It cant be more than two decades at the very most before China will replace the US as the world's largest economy.

basilico:
Well explained, you know I have to bring in my twist and insert someone's name.

Nixon eliminated the gold standard,I didn't get your thoughts on whether it was good or not .I do know that was at the height of the oil embargo caused by OPEC refusing to sell oil to America because she supported Israel during their war with the Arabs
Trump has stated he wants to bring back the gold standard. What you think of that?


Secondly I'd rather and most people use the dollar because it's largely subject to a transparent process . I don't know of anyone crazy enough to carry roubles or the Yuan when visiting another country like Tunisia for instance. We are stuck with the dollar and we are more safer with it than the Yuan .The Yuan is artificially pegged every now and then by China to make it's exports cheaper.

Correct me if I'm wrong.


h

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I don't think a return to the gold standard is possible, the world has moved way too far off that way of doing things to return. The strength of your currency will today be determined by the strength of your economy. And by your regulations.

In terms of what currency can futuristically challenge the dollar, it will have to be a currency supported by a substantial grouping of countries which is the reason the USA detests BRICS as it is the only current viable grouping that may come up with a globally acceptable currency of trade other than the dollar.

The minute the dollar has a replacement or alternative, that is the end of US dominance of the world. In fact anyone who knows what's up knows that is the real way to break US hegemony and not any military way. This is why the US will go to war to protect the dollar's position.

GloriousGbola:
And trumps foolishness may be what brings the house of cards down

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You can say that again my brother.
He doesn't understand that that House of Cards relies on global respect for America and attraction to its economy.

Fundamentally, its unspoken racism that has caused Americans to vote and defend someone like this.

bayelsaowei:
No government wants any one or would ever ask anyone to pay 99% of their income as tax.

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Except those who are governed by a high maintenance mistress.

bayelsaowei:
With the taxes I pay the government is supposed to bear a chunk of the burden of those who need help, while I use my income to support the best I can.

And I am a kind hearted individual. Way better than your evil self.

I help people and l love helping the needy. I was thought that from the scriptures. I was also taught to pay back ceasars things to ceaser.

On the other hand, you detest folks who are needy, because all you think about is yourself and your stocks.

Reason why you are quick to condemn welfare programs for those who need it, but go ahead to support the limitless spending of funds for the killing of humans.

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The sad thing is that it is when life happens to them as it can to all humans and they need that back up humane system and it is not there - that is when they finally get the simple logic that the system should have back up systems of support for the vulnerable built into various areas of need, such as healthcare, pensions, old age, shelter, unemployment assistance etc. Its what the whole society contributes to, not to give away to the careless, but to protect its most vulnerable who could be anyone at anytime.

basilico:
I'm. short of knowledge about FIAT too.. The exact value of physical dollars in circulation is about $12 Trillion.
How does the US owe $38 Trillion?

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All money issued as money becomes money by "fiat" of the issuing authority which is the government. This money is not just paper money but also digital money.

Frightening isnt it, that money exists because someone somewhere declares it into existence and types the figures into a computer then distributes those figures through banks.

Its literally thin air.

raumdeuter:
Printing money has inflationary consequence which we saw under covid, If AMerica decides to print more money for whatever you want, it will lea to the same inflation, Its why no one suggests it as an option

Its a question 5yr old ask, If we are poor, why dnt we just print more money

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Alright, let me address the matter a little.
Benalvino3, you too, pay attention oh. I don't want to repeat myself too often.

Now, here goes.

Once upon a time humans traded by barter. You have one thing, I have another, we exchange. But barter could not handle all trade across the spectrum of different needs.

This led to the development of the practice of sale by standard items of value, such as gold, silver or other precious metals or stones, or rare objects. In some places in Africa cowries have been used at a point.

Gold through history became the most accepted standard of trade. However it is not practical to carry gold about especially in large quantities.

Paper money (incidentally first used in China) became what was used to represent gold. So you had X gold stored away and you could have signed paper money backed by that gold. And so you had the gold standard. In short, the value of the money was backed by gold reserves.

However in 1971 President Richard Nixon ended the gold standard. The US dollar from that time was no longer backed by gold but by the authority of its own issuance by government. Enter fiat currency.

You see, since 1944, the international financial system had been based on the Bretton Woods Agreement, which pegged other currencies to the U.S. dollar, while the dollar itself was backed by gold at $35 per ounce. Nixon ending the gold standard effectively ended this system and birthed the era of fiat currency. From that point, money was valuable not because it was backed by gold but because the government declared it to be money. The value of money is now determined by international foreign exchange markets and not by gold reserves.

Now, the US Dollar is the international reserve currency and international trading currency. What this means is that every other country requires the dollar to effectively participate in the global economy. If a random country such as Nigeria excessively prints it's currency, it will lose scarcity and quickly become weak and devalued against the dollar. This does not mean that we don't engage in currency printing - in fact we have done so alot and many countries do, it's just that it has to be watched and you have to be careful so that it does not lose its scarcity which will lead to hyper inflation and loss of value in the Forex market.

But things are different with the country that owns the dollar. This is because every other country is constantly seeking the dollar as global reserve and trading currency. This creates a permanent and ceaseless demand for the dollar and by the laws of economics this will mean that the dollar will remain strong.

It also means something else as a corollary. It gives the US government more latitude to create dollars out of thin air because those dollars will still be highly sought after being the international currency of trade and international reserve currency. The dollar therefore simply will not depreciate the same way other currencies will, currencies which don't have that supervening advantage.

Thus the US Government has special advantage when it comes to Quantitative Easing (which is not the same thing as printing cash) and cash printing. In both events the threshold for it to lose value is much higher and thus it can invent money out of thin air to a greater degree than other countries can and with less inflationary risk. This does not mean that it risks no inflation to be clear, but that risk is reduced compared to other currencies acting the same way.

What is Quantitative Easing? It is a basically a form of monetary policy on which a Central Bank increases the money supply by creating digital money and adding it to its own reserves. It then uses such to buy assets and thereby reflates the economy with liquidity. In this way wealth can be created by fiat and this is not cash printing. Governments do it to help the economy when needed, and the USA is in the strongest position to do it when we needed because of the position of the dollar as explained above.

The summary of all of this is that the USA can indeed take many different steps and options in terms of infusing and injecting funds for social programs into its system without suffering the kind of shocks other economies would. If well managed, consequences can be minimal and achieve the intended results quite easily.

I hope I have helped.

cc: basilico since you said you dont really understand fiat money, I hope this helps.

benalvino3:
I said you are using the word Fiat because you have watched a crypto video given the fact that what you were saying about Fiat is wrong!!!

So, I said that because your understanding of fiat is like someone who just heard the word in a crypto video.

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Crypto videos are the place where one learns about fiat money?
When did crypto come into existence please?

What I did and never said is Fiat and Crypto are the same thing. Try combining your brain with the brief woman cococandy and see if you will get it 😂😂 else, I can't help you with comprehension

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Keep reaching for the stars comparing yourself to your betters such as cococandy. You may never know how comical you come across on this board. How ignorant. The good lady is a fine example of a rational and sober thinker.

cococandy:
And his low eyeQ fans are celebrating this

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For them, his every fart is a chess move.