Anyone willing to bet on a devaluation of the dollar when all the debt bubbles burst?

[Eric the Green]

(05-21-2016, 11:51 PM)Galen Wrote:

(05-21-2016, 09:23 PM)Eric the Green Wrote:

(05-20-2016, 10:49 PM)Galen Wrote:

(05-20-2016, 09:50 PM)Kinser79 Wrote:

(05-20-2016, 06:54 PM)TnT Wrote: So my fellow Economic Wizards ... what is it?  Catastrophic inflation or catastrophic deflation?

A little of both.  Currently there is a deflationary trend, but all the imaginary cash created through QEinfinity will eventually have to wash through the economy causing a rise in prices and a devaluation of the dollar.  This will probably result in further down grades to US Bond status, once it reaches the general economy.  Rising prices of course would largely be the result of inflation as I don't foresee a major shut down of normal production and distribution just yet.

There is one simple question:  Will the Fed governors ever accept that Keynesian economics does not work?  If they accept this possibility then a deflationary period is likely followed by a long period of growth.  If not then the US gets to look like Venezuela or Zimbabwe.  So far the Fed has shown a pronounced tendency to print at every crisis but I have hedged against both possibilities in case they decide to behave in a sane manner for once.

One thing that you can count on is the economic predictions made by the Fed are the exact opposite of what will happen.  They have a lousy prediction record.  Even worse than Eric the Obtuse, which is quite a feat given how clueless he is.

My prediction record is unmatched by anyone, which anyone except Galen and Kinser can verify from my posts to these forums over the years. One thing is clear: the libertarian trickle-down economics that Galen the Clueless espouses, does not work and has never worked. On the other hand, the "welfare state" worked well from the 30s to the 70s, until Galen's and Kinser's hero got in and wrecked it and created the trickle-down economy we still live in today, and which has created a huge class division between rich and poor in this country.

I suggest you take a good look at how the Code of Federal Regulations grown.  This level of growth does not suggest that the government is getting less insrusive but rather the opposite.  While Reagan had vaguely libertarian rhetoric the truth about his administration is rather different.  Total government spending versus GDP also paints a rather different picture that the one you suggest.  What we live under is a crony capitalist economy which is not even close to what a libertarian would consider a free market.

I will start to believe in your predictions after you manage to win the James Randi prize.

That will never happen; Randi is a fraud and his "prize" is just a publicity stunt. Noone will ever win the Randi prize because it doesn't exist and there's no criteria for receiving it; nor is he any kind of scientist. My prediction record speaks for itself, and is good; better than any pundit bar none.

(05-21-2016, 09:23 PM)Eric the Green Wrote: The job creaters are job destroyers. Galen the Clueless's economic program has been tried for 40 years now and has failed miserably.

The US hasn't really had a free market economy but rather what have had is a continuation of the centralization of power in the US that has continued for the last century.  If my economic program had been implemented then government spending would have decreased and the Code of Federal Regulations would be much smaller.  Since these things have  not happened than it is safe to say that the government has not moved in a libertarian direction.

Once again, I thank you for demonstrating why you will always be Eric the Obtuse and showing how little connection you have with reality.
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Galen the Clueless does not understand that libertarian economics has been implemented in the last 40 years to the extent that its slogans of "less government" have been used to block almost every proposal of reform and problem solution that has been made on the grounds that it is government action. Of course it does not fulfill the libertarian ideal, because it is just a ruse to keep the rich in power. But the libertarian ideal would just be a more extreme version of empowering the rich than the phony Republican version.