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Boy, they’re dragging out this DACA thing, aren’t they? Where are we up to this week?

As I’ve been reporting, there are two issues in play here: Funding the government, and resolving the DACA business—those 800,000 illegal aliens who were given temporary work permits, probably illegally, by Barack Obama … and who are not, by the way, to be confused with “Dreamers.” “Dreamers” are illegals who would have been beneficiaries of the DREAM Act, except that Congress has never been able to pass it. There would have been two million of them.

The two issues, DACA and funding the government, have two different deadlines for congressional action. For funding the government, Congress has to pass a law before midnight January 19th, two weeks from this last Friday. For DACA the deadline is March 5th, eight and a half weeks from Friday, when President Trump’s extension of Obama’s (probably unconstitutional) order expires.

That second one isn’t really a deadline inasmuch as if Congress does nothing, Obama’s order just expires, and beneficiaries of it become regular illegal aliens, subject to deportation and with no legal right to work.

That would actually be my preferred solution. The Open Borders lobbies are mighty in the land, though, including in Congress and the Main Stream Media, and they will go to the mat to prevent it from happening.

The President, too, seems to have convinced himself, or been convinced, that the DACA illegals have to be amnestied. So it’s not probable that March 5th will come and go with there having been nothing done on DACA.

It does seem that the immigration issue has at least been decoupled from the funding issue. Congress will pass another Continuing Resolution on or before January 19th without any reference to DACA. Congressional Democrats now have it clear in their minds that shutting down the federal government to help illegal aliens would not play well in the country.

Thwarting President Trump’s immigration reforms—a border wall, an end to chain migration and the “diversity visa lottery“—on behalf of illegals is another matter. Democrats and Open-Borders Republicans are now working hard on that.

Thursday this last week, the President met with some Republican senators for opening discussions on immigration legislation. I don’t have a full list of the senators he met with, but it included Senators John Cornyn of Texas (NumbersUSA Grade in this Congress: C-minus), Lindsey Graham of South Carolina (F-minus), James Lankford of Oklahoma (D), and Charles Grassley of Iowa (C-plus).

That’s a median grade of D-minus.

Next week the President is meeting with a bipartisan group of Senators to have further discussions on a DACA-plus-immigration-reforms bill. Since every single Democratic Senator is an F-minus, the median represented at next week’s talks should be down in the F’s. Let’s be optimistic and say F-plus.

These are the people deciding the future demographics of the U.S.A., the nation our children and grandchildren will live in. This is the key issue, the major issue for our country at this time—the issue that won Trump the Presidency. Polls show major public support for the President’s stated positions.

The decision-makers, though, are the Cs and Ds and F-minuses in the U.S. Senate, bought and paid for by the Cheap Labor lobbies and Ethnic-Grievance groups.

I’m going to repeat my prediction of two weeks ago. We shall end up, sometime before March 5th, with a bill giving amnesty to the DACA illegals in return for an end to the “diversity visa” lottery and a new paint scheme for the border posts.

In contrast, while we dicker around with legislation that panders to foreign scofflaws and tiny cosmetic changes to border procedures, serious countries enforce their laws.

Exhibit A: Israel. The President of that country, Benjamin Netanyahu, refers to illegal aliens as “infiltrators.” Which beats “undocumented immigrant”! Israel’s illegals mostly come from East Africa, Eritrea and Somalia. Five years ago, the numbers had reached 60,000, bringing with them the usual elevated levels of crime.

That’s when Israel put up a big beautiful wall across the Sinai Desert, cutting infiltration from Africa to zero. The Israelis followed up with campaigns of expulsion. When sending countries refused to take back infiltrators, Israel just bribed other African countries to take them.

Twenty thousand have now gone, forty thousand still to go. The twenty thousand seem to have been low-hanging fruit, the ones easiest to deport. Now it’s getting harder; so the Israelis are getting more determined.

The deal until recently was that illegals were offered $3,500 to go back to their own countries; or, if the home country was too dangerous, they’d be given a plane ticket to one of those bribed countries, said to include Uganda and Rwanda.

Illegals who refused this deal would be put in prison.

Now, though, the government is worried about prison overcrowding, so Netanyahu says they should just be forcibly expelled. Quote from him:

The infiltrators have a simple choice—to cooperate with us and leave voluntarily, along a respectable, humanitarian and legal path—or we will have to use the other tools available to us, also according to the law. I hope they will choose to cooperate with us. Every country must maintain its borders, and protecting the borders from illegal infiltration is both a right and a basic duty of a sovereign state.[Netanyahu said looking for ways to forcibly deport illegal migrants, Times Of Israel, January 3, 2018]

The Israelis have even deported a guy from Kenya who claims to be a convert to Judaism. When opposition party legislators accused the government of “racism,” the Interior Ministry official responsible replied: “Do you want half of Africa coming here?”

That’s a serious country with a real government looking after its citizens.

ORDER IT NOW

Exhibit B: Japan. Japan is actually loosening up on immigration; but that’s relative. They’ve set up a strict points-based system, like Canada’s, for highly-skilled foreigners to get permanent residence. They are not such fools as to link it to a system of chain migration, though, with brothers and sisters, nephews and nieces, uncles and aunts pouring in.

And their performance on refugees is stellar. In 2016 they got 10,901 asylum applications. They accepted 28, a rate of 0.26 percent.

Again, these are serious countries with real governments looking after their citizens.

Look, listen, and envy.2010-12-24dl[1]

John Derbyshire [email him] writes an incredible amount on all sorts of subjects for all kinds of outlets. (This no longer includes National Review, whose editors had some kind of tantrum and fired him. ) He is the author of We Are Doomed: Reclaiming Conservative Pessimism and several other books. He has had two books published by VDARE.com com:FROM THE DISSIDENT RIGHT (also available in Kindle) and FROM THE DISSIDENT RIGHT II: ESSAYS 2013.

(Republished from VDare by permission of author or representative)
 
• Category: Ideology • Tags: DACA, Immigration, Israel 
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  1. Dave Pinsen says: • Website

    Not to be pedantic, but the president (head of state) of Israel is Reuven Rivlin. Netanyahu is the prime minister (head of government).

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  2. VDare does not have commenting, so consider this a reply to the entire Radio Derb podcast (transcript in this link) of a week or so back.

    Yeah, I’m going to go off the rails here and complain even about a white European immigrant, in this case the writer. This is the problem when the original founding stock of the country, exemplified by the founders of the country who drafted the US Constitution, let people in who JUST DON”T GET IT. See, the inhabitants of the colonies in British North America had been making their way mostly on their own for more than a century. They were as free as had/has ever been seen in history. Hey, I’m not kin to these founders either, but I GET IT. Keep the governments small, dammit!

    Too many of the immigrants over the last 2 centuries, especially going back through the 1880′s, were not from “people” who have a history of loving freedom. OK, that’s just my introduction – here’s my point, using an example of a big contradiction in the podcast (from my reading of the transcript).

    On the segment discussing the new tax plan, I’ve got no real argument with Derb on the details – it’s basically a wash for middle-middle-class families, with the exception of a negative for those itemizing high Yankee-state property taxes and family business itemization (as, standard deduction is doubled, yet exemptions are wiped out). Now this:

    I don’t mind. I’m sure our governments could be a lot more efficient; but plainly they are never going to be, and by comparison with other times and places, we are on the whole well-governed. That’s worth paying for.

    That’s too much for me. You think we are well-governed, huh, yet in a latter segment, the very interesting concept of the convergence of capitalism and totalitarianism, you admit that big business and the US government have almost complete control now? But, wait, you are fine with how much money you’ve been sending in had stolen from you from the Feds for over 5 decades?

    This shitshow could be stopped in its tracks if the Feral Government a) did not have this ability to take years of our lives’ labor away without dealing with the States first, and b) did not have the ability to print money to both devalue all monetary savings (at least in dollars), as an additional large hidden tax and to keep the show going. As to (a), I get disgusted when people act like good little ignorant drones and don’t mind getting reamed. As far as (b) goes, lots of people could learn from a guy like Ron Paul. He’ll be the first to tell you that what can’t go on, won’t go on, and the tremendous debt will be the downfall of the American economy. I’ll be the first to tell you that the silver lining in that dark economic cloud is that we will reach Peak Stupidity at that time. That time is in the near future.

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    • Replies: @Bill Jones
    "Too many of the immigrants over the last 2 centuries, especially going back through the 1880′s, were not from “people” who have a history of loving freedom. "

    Between 1880 and 1920 the US imported two Million Eastern European Jews.

    The cost to the
    legal system: Talmud Parsers replacing English Common Law.
    Culture- too numerous to list, but start with pornography, destruction of nuclear families, normalization of the foulest perversions etc
    Foreign Policy- endless war
    Financialization of the economy- endless debt
    Immigration, topic du jour.

    etc

    The cost would astonish if accurately reckoned.
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  3. b) did not have the ability to print money to both devalue all monetary savings (at least in dollars), as an additional large hidden tax and to keep the show going.

    This is only an issue if you’re a loser who keeps savings in cash.

    In case you’re not paying attention the stock market has done very well since 2009.

    A frankly, inflation is very low these days. So even if you’re stuffing your money into CDs you aren’t losing much.

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    • Replies: @Achmed E. Newman
    The US stock market is denominated in dollars. That's my problem with it, that wouldn't really be one if it weren't only being propped up by all the FED money creation. I don't know if you've ever played musical chairs, Thorfinnson, but it's like that. I don't know when the music is gonna stop, and you don't either, unless you are on Mr. Yellen's staff.

    As far as inflation goes, you may be the one who is not paying attention, or do you just not buy stuff? (Hey, maybe you own all the stuff you need - more power to ya') Check out the shadowstats website sometime. Even without that, I just notice how many things are double in price from the mid-00's and at least from the mid-1990's. Oil is the only thing (albeit an important one) that has been very stable. Big ticket stuff - housing, insurance, medical care, etc. is all up by amounts that don't factor into (even with compounding understood) the ridiculous 1-2% annual rises that our lying Feral Gov't spits out. You should keep in mind that they are really in a pickle and MUST keep the official numbers low - lots of entitlements from Fed-gov are indexed.

    Nope, you are right that if your money just sits in cash, you are losing. Even old ladies and pension funds are FORCED to go risky now, as there is no other choice. It'd be best to have some solid assets. It's a lot, but here is Peak Stupdity's take on the Global Financial Stupidity that's been going on. I'd refer you to Zerohedge too, but they have been too focused on the political end of things lately - it used to be a great site to learn from.
    , @Bizarro World Observer
    Inflation is not "low". Price inflation has been disguised by govt agencies that cook the books. And let's make clear what inflation is. It's inflation of the money supply, which the Fed has been doing at an astounding rate for more than a decade now.

    Inflation is a very effective way for the haves to steal from the have-nots (https://www.forbes.com/sites/billflax/2011/03/03/you-call-it-inflation-i-call-it-theft/#729a10a72bdb). The suckers who hold cash are raped. The poor and middle class see their costs of living continually rise, and their savings destroyed. The people with assets can borrow money cheap, and securities prices go up. And when the inevitable bubble, caused by inflation, pops and the markets crash, the haves get bailed out by the have-nots. What a wonderful system!

    Yeah, so to hell with all those losers.
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  4. bartok says:

    family business itemization (as, standard deduction is doubled, yet exemptions are wiped out)

    I’m afraid you don’t know what you are talking about in this detail. Individual business deductions are not itemized; they are (still) deducted in full from business income on Schedule C. Same goes for other forms of ‘family business’.

    Too many of the immigrants over the last 2 centuries, especially going back through the 1880′s, were not from “people” who have a history of loving freedom.

    This seems to have been learned directly from Derbyshire’s seminal “Libertarianism in One Country.” Yet you accuse Derbyshire of neglecting the point that he has long made and repeated.

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    • Replies: @Achmed E. Newman
    Bartok, I won't argue with you on your tax point - you are most likely right about Schedule C. I was in particularly just referring to families that have lots to itemize due to, call it unincorporated business stuff. The itemization items that have changed are not the problem as far as I know; it's that you've got a doubly-high goal to meet before itemizing is worth it. That doesn't sound bad in and of itself, but, see, the exemptions are gone.

    You may have had $20,000 in itemized deductions + $20,000 in exemptions (for a family of 5) before, taking $40,000 off of the TOP line. Now, you'd be just taking the $28,000 Std. deduction + a big fat ZERO = only $28,000 off the top line OK, yes, and extra $600 x 3 kids for child credit off the BOTTOM line, but that will put you behind if your marginal income is in the 25% bracket. i.e. that $1800 in credit is = 4 x that in deductions = $7,800, less than the $12,000 you lost from (deductions + exemptions).

    I'm no tax man, but I get the gist of it due to doing my taxes myself at the bar usually during superbowl halftime.
    , @Achmed E. Newman

    This seems to have been learned directly from Derbyshire’s seminal “Libertarianism in One Country.” Yet you accuse Derbyshire of neglecting the point that he has long made and repeated.
     
    I'll give John Derbyshire his due - I've read lots of good stuff from him, and he probably did write this. That doesn't mean I didn't also think this thought.

    Listen, that brings me to my point though. All the disrespect for libertards (it's not the insult I resent, it's the stupidity) and "muh constitution" you read from most of the alt-right, most of the unz writers (not my main man Ron Paul, of course, or (I wish) my main lady Miss Coulter), and the commenters is self-defeating. It seems like people want the major problems we have without dealing with the original root causes.

    I am sorry people think I am down on Mr. Derbyshire, as I should probably not have made the immigrant comment. It's the "Hey, our government could be a lot worse. Here's my money!" crap that irks me. Our existential issue is the immigration invasion, is it not? It's probably the only thing on this thread that could get all us commenters and John Derbyshire holding hands and singing Kumbaya, right? Why do you think we haven't been able to solve this problem yet, and maybe won't before there is no solution because it's too late?

    The Feral Gov't in this country is OUT OF OUR CONTROL! Why? People have not cared to defend the US Constitution for 5-10 decades (depending on what site you read), and that document has strict limits on the Fed-Gov powers - see B.O.R. Amendment X. At this late stage, the policy makers have no good reason to care about what the American people want.

    Yes, I may have read "Libertarianism in one Country", a great title already, so I'm sure it's good. In fact, I will admit that Dr. Paul should have read that before 2012, and we may have been right now in a much brighter situation. Why the praise for paying income tax then? Amendment 16 took power away from the states - follow the flow of the money. Over, the invasion of privacy, the huge increase in total theft , err, taxation level, the ability to make policy via tax rules, the worst aspect is the change in the flow of the money.

    Why do people bemoan the actions of "their" government while doing nothing to control it? It's a wild beast that will do what it's in it's nature to do. What do they do with man-eating lions? Yeah, that's the picture.
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  5. Truth says:

    I’m with you, Sport.

    I hate when immigrants come to a country, marry other immigrants and add nothing to the host country but hot air and silly invective about the way the natives do things.

    It ought to be a crime.

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    • Replies: @Anonymous
    Smart immigrants who help fight thirdwoldization of the country are always welcome. Thank you, Derb! Oh, and fsck you, Truth, for helping to ruin the country.
    , @Achmed E. Newman

    I’m with you, Sport.
     
    This is not good, not good at all...

    No, Mr. Derbyshire and wife have been good immigrants, unless the wife really did vote for Øb☭ma, but that's from some commenter who may not know this. Even many of the Euro immigrants of the modern era are pretty socialist in view, which is not a good thing.

    I respect all of the writings of "the Derb" besides the parts that show misunderstanding of the whole point of this country, and I've seen that a number of times. I'll call it out when I see it ... no charge.

    As for you, Truth, YOU HAVE TO GO BACK ....
    .
    .

    to Huffington Post

    .
    .

    BTW, if Mr. Derbyshire was ripping on guys like Thomas Sowell (he is black) or Walter Williams, well then, I'd be on your side, Truth. Please don't hold that Coates idiot up as an idea of a smart black guy, as that makes us all wonder even more about the rest.

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  6. I guess Israel’s moved on from injecting Depo-Provera into its migrants. And the reference to the wall is interesting. I had always assumed the wall was meant to keep Palestinian jihadists out of Israel. But maybe those crafty Israelis always had African refugees in mind? MIGA

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  7. OT: A NYT op-ed mentioned Derbyshire.

    https://www.nytimes.com/2018/01/06/opinion/sunday/alt-right-asian-fetish.html

    The right-wing agitator Mike Cernovich, the writer John Derbyshire and an alt-right figure named Kyle Chapman are all married to women of Asian descent.

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    • Replies: @Truth
    DEEEEEEEERRRRRRRRB!

    Congrats My N- You've made it!

    Hey, next week when you write your 17th scathing criticism of Tennessee Coates, he may even know who you are!

    Dawg, you guys are true rivals now, you've both been published in the Times.
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  8. Truth says:
    @Pseudonymic Handle
    OT: A NYT op-ed mentioned Derbyshire.
    https://www.nytimes.com/2018/01/06/opinion/sunday/alt-right-asian-fetish.html

    The right-wing agitator Mike Cernovich, the writer John Derbyshire and an alt-right figure named Kyle Chapman are all married to women of Asian descent.
     

    DEEEEEEEERRRRRRRRB!

    Congrats My N- You’ve made it!

    Hey, next week when you write your 17th scathing criticism of Tennessee Coates, he may even know who you are!

    Dawg, you guys are true rivals now, you’ve both been published in the Times.

    Read More
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  9. Anonymous • Disclaimer says:
    @Truth
    I'm with you, Sport.

    I hate when immigrants come to a country, marry other immigrants and add nothing to the host country but hot air and silly invective about the way the natives do things.

    It ought to be a crime.

    Smart immigrants who help fight thirdwoldization of the country are always welcome. Thank you, Derb! Oh, and fsck you, Truth, for helping to ruin the country.

    Read More
    • Replies: @Truth
    Oh, you thought I was talking about Derb? No, no, NOOOOOOO! I was referring to Sean Werbyshire, the manager at my local Car Wash. Immigrant from Brighton, married to a Korean, always whining about "the dark masses". No I love Derbyshire.
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  10. neutral says:

    One thing is for sure, the ADL will never ever in a million years mention this. Instead they will have an article saying how anti semitic borders are, and right below that article they will have another one saying how BDS is a grave human rights violation.

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  11. bartok says:

    The NYT should indeed worry about the alt-right (quickly becoming the new right). The asian thing is a sideshow.

    While /pol/ radicalizes the youth, Unz.com is radicalizing the olds. Paul Nehlen crossed the line with a thunderous step, tweeting out a picture of him holding “Culture of Critique.” Paul Craig Roberts’ latest column asks if White Genocide is on the table. His answer is, yup, the new communists are here and their agenda is white genocide.

    That’s in one week.

    Read More
    • Replies: @Achmed E. Newman
    I mostly like P.C. Roberts's writings, but he got mad at his commenters (I'm hoping one was me, as he has some major episode of stupidity involving the whole Global Climate Disruption(TM) hoax - I set him straight right around that time). If he's too chicken or sensitive to allow comments, I won't read his stuff.

    Oh, last thing for a while, I promise: Why don't people hit the reply button? I'd have replied myself long ago, but I hadn't refreshed this page.

    , @anony-mouse
    I didn't get that PCR article. If the world is about to end soon (as PCR has repeatedly pointed out), how will all Whites be killed in time?
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  12. Truth says:
    @Anonymous
    Smart immigrants who help fight thirdwoldization of the country are always welcome. Thank you, Derb! Oh, and fsck you, Truth, for helping to ruin the country.

    Oh, you thought I was talking about Derb? No, no, NOOOOOOO! I was referring to Sean Werbyshire, the manager at my local Car Wash. Immigrant from Brighton, married to a Korean, always whining about “the dark masses”. No I love Derbyshire.

    Read More
    • Replies: @anon
    I'm sure a black guy like you would be welcomed in Israel sport.
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  13. @Thorfinnsson


    b) did not have the ability to print money to both devalue all monetary savings (at least in dollars), as an additional large hidden tax and to keep the show going.
     
    This is only an issue if you're a loser who keeps savings in cash.

    In case you're not paying attention the stock market has done very well since 2009.

    A frankly, inflation is very low these days. So even if you're stuffing your money into CDs you aren't losing much.

    The US stock market is denominated in dollars. That’s my problem with it, that wouldn’t really be one if it weren’t only being propped up by all the FED money creation. I don’t know if you’ve ever played musical chairs, Thorfinnson, but it’s like that. I don’t know when the music is gonna stop, and you don’t either, unless you are on Mr. Yellen’s staff.

    As far as inflation goes, you may be the one who is not paying attention, or do you just not buy stuff? (Hey, maybe you own all the stuff you need – more power to ya’) Check out the shadowstats website sometime. Even without that, I just notice how many things are double in price from the mid-00′s and at least from the mid-1990′s. Oil is the only thing (albeit an important one) that has been very stable. Big ticket stuff – housing, insurance, medical care, etc. is all up by amounts that don’t factor into (even with compounding understood) the ridiculous 1-2% annual rises that our lying Feral Gov’t spits out. You should keep in mind that they are really in a pickle and MUST keep the official numbers low – lots of entitlements from Fed-gov are indexed.

    Nope, you are right that if your money just sits in cash, you are losing. Even old ladies and pension funds are FORCED to go risky now, as there is no other choice. It’d be best to have some solid assets. It’s a lot, but here is Peak Stupdity’s take on the Global Financial Stupidity that’s been going on. I’d refer you to Zerohedge too, but they have been too focused on the political end of things lately – it used to be a great site to learn from.

    Read More
    • Replies: @another fred

    I don’t know if you’ve ever played musical chairs, Thorfinnson, but it’s like that. I don’t know when the music is gonna stop, and you don’t either, unless you are on Mr. Yellen’s staff.
     
    Keep an eye on initial jobless claims (and unemployment). If they let them rise (and I think they will) then they are going to pause the music once again.

    The music will not stop for good yet, they just have to reduce the number of players before it starts again. When the emergency is declared, then the last players will fight for the last chair, but we peons will not be in the game. Be happy for the scraps you've gathered and try to stay away from the center of action then.

    To mix metaphors, when the elephants fight, the grass gets trampled. Grass that will then wither, die, and be cast into the furnace.

    , @Thorfinnsson
    Doomerism is nearly always wrong, particularly financial doomerism.


    The US stock market is denominated in dollars. That’s my problem with it, that wouldn’t really be one if it weren’t only being propped up by all the FED money creation. I don’t know if you’ve ever played musical chairs, Thorfinnson, but it’s like that. I don’t know when the music is gonna stop, and you don’t either, unless you are on Mr. Yellen’s staff.
     
    Quantitative easing ended in 2014, and is better described as an asset swap than money creation. Cash went into the market, bonds went into the FED. In fact you can argue that QE is deflationary as it reduces income to the private sector. This might be why it failed as an economic stimulus tool.

    The other commonly cited culprit, stock buybacks, are at their lowest level since 2012.

    The FED also has a lot less power over interest rates than commonly believed (including by the FED itself), and low interest rates increase the net present value of stocks.

    Corporate earnings and dividend growth since 2009 have been robust and track the growth in the S&P 500 Index very well.

    Of course, the high prices for stocks now are a strong indicator that future returns will be poor. But companies will keep paying out and increasing dividends regardless. Or you can just buy REITs or energy MLPs if stock yields are too low for your taste.

    The idea that the Dollar is going to collapse is also dubious and one which has been made for decades by the doom and gloom crowd, but if you believe that simply place your portfolio into international equities. It's also worth noting that 40% of the revenues of the S&P 500 are made outside the United States.

    Some international equities are very cheap right now. Russia, China, Portugal, Greece, and the Czech Republic come to mind.


    As far as inflation goes, you may be the one who is not paying attention, or do you just not buy stuff? (Hey, maybe you own all the stuff you need – more power to ya’) Check out the shadowstats website sometime. Even without that, I just notice how many things are double in price from the mid-00′s and at least from the mid-1990′s. Oil is the only thing (albeit an important one) that has been very stable. Big ticket stuff – housing, insurance, medical care, etc. is all up by amounts that don’t factor into (even with compounding understood) the ridiculous 1-2% annual rises that our lying Feral Gov’t spits out. You should keep in mind that they are really in a pickle and MUST keep the official numbers low – lots of entitlements from Fed-gov are indexed.
     
    A Shadowstats subscription has the same nominal price as it did a decade ago. That ought to tell you something.

    The big ticket items you cite are incorporated into BLS data. Housing is imputed through rental prices, insurance is included, as is medical care. Feel free to look at the data yourself. Certainly some practices are dubious, and the Bundesbank maintains that actual inflation in the USA is 30-50 basis points higher than the BLS claims.

    How much those price increases impact you depend on your own consumption mix. In my case I don't consume healthcare, insurance rates are low in my state, and housing prices have not inflated in my area.

    Manufactured goods have gotten cheaper, service prices are flat, and food has increased modestly in price.

    In my personal case there has thus been modest deflation.


    Nope, you are right that if your money just sits in cash, you are losing. Even old ladies and pension funds are FORCED to go risky now, as there is no other choice. It’d be best to have some solid assets. It’s a lot, but here is Peak Stupdity’s take on the Global Financial Stupidity that’s been going on. I’d refer you to Zerohedge too, but they have been too focused on the political end of things lately – it used to be a great site to learn from.
     
    Low interest rates are definitely a problem for pension funds (a bad idea to begin with, but that's a different story). They will need to change their approach, though I would echo Warren Buffet that the greater risk than volatility is foregone returns. Berkshire Hathaway's corporate pension fund radically departs from conventional pension practice by being primarily invested in equities.

    Zero Hedge is a good read, but another doomerist porn website. The sky isn't falling and doomerists are nearly always wrong.
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  14. @bartok

    family business itemization (as, standard deduction is doubled, yet exemptions are wiped out)
     
    I'm afraid you don't know what you are talking about in this detail. Individual business deductions are not itemized; they are (still) deducted in full from business income on Schedule C. Same goes for other forms of 'family business'.

    Too many of the immigrants over the last 2 centuries, especially going back through the 1880′s, were not from “people” who have a history of loving freedom.
     
    This seems to have been learned directly from Derbyshire's seminal "Libertarianism in One Country." Yet you accuse Derbyshire of neglecting the point that he has long made and repeated.

    Bartok, I won’t argue with you on your tax point – you are most likely right about Schedule C. I was in particularly just referring to families that have lots to itemize due to, call it unincorporated business stuff. The itemization items that have changed are not the problem as far as I know; it’s that you’ve got a doubly-high goal to meet before itemizing is worth it. That doesn’t sound bad in and of itself, but, see, the exemptions are gone.

    You may have had $20,000 in itemized deductions + $20,000 in exemptions (for a family of 5) before, taking $40,000 off of the TOP line. Now, you’d be just taking the $28,000 Std. deduction + a big fat ZERO = only $28,000 off the top line OK, yes, and extra $600 x 3 kids for child credit off the BOTTOM line, but that will put you behind if your marginal income is in the 25% bracket. i.e. that $1800 in credit is = 4 x that in deductions = $7,800, less than the $12,000 you lost from (deductions + exemptions).

    I’m no tax man, but I get the gist of it due to doing my taxes myself at the bar usually during superbowl halftime.

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  15. @bartok

    family business itemization (as, standard deduction is doubled, yet exemptions are wiped out)
     
    I'm afraid you don't know what you are talking about in this detail. Individual business deductions are not itemized; they are (still) deducted in full from business income on Schedule C. Same goes for other forms of 'family business'.

    Too many of the immigrants over the last 2 centuries, especially going back through the 1880′s, were not from “people” who have a history of loving freedom.
     
    This seems to have been learned directly from Derbyshire's seminal "Libertarianism in One Country." Yet you accuse Derbyshire of neglecting the point that he has long made and repeated.

    This seems to have been learned directly from Derbyshire’s seminal “Libertarianism in One Country.” Yet you accuse Derbyshire of neglecting the point that he has long made and repeated.

    I’ll give John Derbyshire his due – I’ve read lots of good stuff from him, and he probably did write this. That doesn’t mean I didn’t also think this thought.

    Listen, that brings me to my point though. All the disrespect for libertards (it’s not the insult I resent, it’s the stupidity) and “muh constitution” you read from most of the alt-right, most of the unz writers (not my main man Ron Paul, of course, or (I wish) my main lady Miss Coulter), and the commenters is self-defeating. It seems like people want the major problems we have without dealing with the original root causes.

    I am sorry people think I am down on Mr. Derbyshire, as I should probably not have made the immigrant comment. It’s the “Hey, our government could be a lot worse. Here’s my money!” crap that irks me. Our existential issue is the immigration invasion, is it not? It’s probably the only thing on this thread that could get all us commenters and John Derbyshire holding hands and singing Kumbaya, right? Why do you think we haven’t been able to solve this problem yet, and maybe won’t before there is no solution because it’s too late?

    The Feral Gov’t in this country is OUT OF OUR CONTROL! Why? People have not cared to defend the US Constitution for 5-10 decades (depending on what site you read), and that document has strict limits on the Fed-Gov powers – see B.O.R. Amendment X. At this late stage, the policy makers have no good reason to care about what the American people want.

    Yes, I may have read “Libertarianism in one Country”, a great title already, so I’m sure it’s good. In fact, I will admit that Dr. Paul should have read that before 2012, and we may have been right now in a much brighter situation. Why the praise for paying income tax then? Amendment 16 took power away from the states – follow the flow of the money. Over, the invasion of privacy, the huge increase in total theft , err, taxation level, the ability to make policy via tax rules, the worst aspect is the change in the flow of the money.

    Why do people bemoan the actions of “their” government while doing nothing to control it? It’s a wild beast that will do what it’s in it’s nature to do. What do they do with man-eating lions? Yeah, that’s the picture.

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  16. @Truth
    I'm with you, Sport.

    I hate when immigrants come to a country, marry other immigrants and add nothing to the host country but hot air and silly invective about the way the natives do things.

    It ought to be a crime.

    I’m with you, Sport.

    This is not good, not good at all…

    No, Mr. Derbyshire and wife have been good immigrants, unless the wife really did vote for Øb☭ma, but that’s from some commenter who may not know this. Even many of the Euro immigrants of the modern era are pretty socialist in view, which is not a good thing.

    I respect all of the writings of “the Derb” besides the parts that show misunderstanding of the whole point of this country, and I’ve seen that a number of times. I’ll call it out when I see it … no charge.

    As for you, Truth, YOU HAVE TO GO BACK ….
    .
    .

    to Huffington Post

    .
    .

    BTW, if Mr. Derbyshire was ripping on guys like Thomas Sowell (he is black) or Walter Williams, well then, I’d be on your side, Truth. Please don’t hold that Coates idiot up as an idea of a smart black guy, as that makes us all wonder even more about the rest.

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    Oh, I don't know. By the way a lot of men discern such things, I'd say he's fairly smart.

    https://networthpost.com/net-worth/ta-nehisi-coates-net-worth/
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  17. @bartok
    The NYT should indeed worry about the alt-right (quickly becoming the new right). The asian thing is a sideshow.

    While /pol/ radicalizes the youth, Unz.com is radicalizing the olds. Paul Nehlen crossed the line with a thunderous step, tweeting out a picture of him holding "Culture of Critique." Paul Craig Roberts' latest column asks if White Genocide is on the table. His answer is, yup, the new communists are here and their agenda is white genocide.

    That's in one week.

    I mostly like P.C. Roberts’s writings, but he got mad at his commenters (I’m hoping one was me, as he has some major episode of stupidity involving the whole Global Climate Disruption(TM) hoax – I set him straight right around that time). If he’s too chicken or sensitive to allow comments, I won’t read his stuff.

    Oh, last thing for a while, I promise: Why don’t people hit the reply button? I’d have replied myself long ago, but I hadn’t refreshed this page.

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  18. @bartok
    The NYT should indeed worry about the alt-right (quickly becoming the new right). The asian thing is a sideshow.

    While /pol/ radicalizes the youth, Unz.com is radicalizing the olds. Paul Nehlen crossed the line with a thunderous step, tweeting out a picture of him holding "Culture of Critique." Paul Craig Roberts' latest column asks if White Genocide is on the table. His answer is, yup, the new communists are here and their agenda is white genocide.

    That's in one week.

    I didn’t get that PCR article. If the world is about to end soon (as PCR has repeatedly pointed out), how will all Whites be killed in time?

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  19. anon • Disclaimer says:

    Canada’s much lauded “points system” immigration is a farce. 85-90% of immigrants who come here simply arrive under the so-called “family-reunification” nonsense – chain migration. This extends way beyond even immediate family members. Canada is a complete joke of a country, especially its “diversity-immigration” nonsense. As a side note isn’t it interesting that Jews are so pro-immigration and diversity everywhere but in Israel?

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  20. anon • Disclaimer says:
    @Truth
    Oh, you thought I was talking about Derb? No, no, NOOOOOOO! I was referring to Sean Werbyshire, the manager at my local Car Wash. Immigrant from Brighton, married to a Korean, always whining about "the dark masses". No I love Derbyshire.

    I’m sure a black guy like you would be welcomed in Israel sport.

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    Was there last year, had three Rabbi's BEG me to get a Bar Mitzvah. One of them literally tried to block my path when I said no!
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  21. The Western world is finally waking up to the perils of unrestricted mass Third World Immigration invasion. Whether the native loyalists and patriots can retake their nations from the globalist 0.001% New World/One World Order in time to save themselves, their nations, their cultures, their languages, and their race from annihilation and a melt down into a One World mongrel “copper mass”, except for the ruling self styled elite, who will remain pure Caucasian of course, remains to be seen. Also whether it can be done by peaceful means or requires violent revolution also remains unknown. Stay tuned.

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  22. @Achmed E. Newman
    The US stock market is denominated in dollars. That's my problem with it, that wouldn't really be one if it weren't only being propped up by all the FED money creation. I don't know if you've ever played musical chairs, Thorfinnson, but it's like that. I don't know when the music is gonna stop, and you don't either, unless you are on Mr. Yellen's staff.

    As far as inflation goes, you may be the one who is not paying attention, or do you just not buy stuff? (Hey, maybe you own all the stuff you need - more power to ya') Check out the shadowstats website sometime. Even without that, I just notice how many things are double in price from the mid-00's and at least from the mid-1990's. Oil is the only thing (albeit an important one) that has been very stable. Big ticket stuff - housing, insurance, medical care, etc. is all up by amounts that don't factor into (even with compounding understood) the ridiculous 1-2% annual rises that our lying Feral Gov't spits out. You should keep in mind that they are really in a pickle and MUST keep the official numbers low - lots of entitlements from Fed-gov are indexed.

    Nope, you are right that if your money just sits in cash, you are losing. Even old ladies and pension funds are FORCED to go risky now, as there is no other choice. It'd be best to have some solid assets. It's a lot, but here is Peak Stupdity's take on the Global Financial Stupidity that's been going on. I'd refer you to Zerohedge too, but they have been too focused on the political end of things lately - it used to be a great site to learn from.

    I don’t know if you’ve ever played musical chairs, Thorfinnson, but it’s like that. I don’t know when the music is gonna stop, and you don’t either, unless you are on Mr. Yellen’s staff.

    Keep an eye on initial jobless claims (and unemployment). If they let them rise (and I think they will) then they are going to pause the music once again.

    The music will not stop for good yet, they just have to reduce the number of players before it starts again. When the emergency is declared, then the last players will fight for the last chair, but we peons will not be in the game. Be happy for the scraps you’ve gathered and try to stay away from the center of action then.

    To mix metaphors, when the elephants fight, the grass gets trampled. Grass that will then wither, die, and be cast into the furnace.

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    Keep an eye on initial jobless claims (and unemployment)
     
    Just for the other reader's sake, I figure you probably know also that the latter (true unemployment) value has been bogus for a long time, due to the silly method of gathering data from people who still go into unemployment offices.

    a) That does not include all who have been unemployed for over 6 months or 1 year.

    b) I never even went down there when I did have periods of unemployment - I cannot deal calmly with that government crowd. I imagine there are others.

    Anyway, you sound like a zerohedger, Fred., and I like your metaphors too. Keep up the preps, bitchez!

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  23. @another fred

    I don’t know if you’ve ever played musical chairs, Thorfinnson, but it’s like that. I don’t know when the music is gonna stop, and you don’t either, unless you are on Mr. Yellen’s staff.
     
    Keep an eye on initial jobless claims (and unemployment). If they let them rise (and I think they will) then they are going to pause the music once again.

    The music will not stop for good yet, they just have to reduce the number of players before it starts again. When the emergency is declared, then the last players will fight for the last chair, but we peons will not be in the game. Be happy for the scraps you've gathered and try to stay away from the center of action then.

    To mix metaphors, when the elephants fight, the grass gets trampled. Grass that will then wither, die, and be cast into the furnace.

    Keep an eye on initial jobless claims (and unemployment)

    Just for the other reader’s sake, I figure you probably know also that the latter (true unemployment) value has been bogus for a long time, due to the silly method of gathering data from people who still go into unemployment offices.

    a) That does not include all who have been unemployed for over 6 months or 1 year.

    b) I never even went down there when I did have periods of unemployment – I cannot deal calmly with that government crowd. I imagine there are others.

    Anyway, you sound like a zerohedger, Fred., and I like your metaphors too. Keep up the preps, bitchez!

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  24. Truth says:
    @anon
    I'm sure a black guy like you would be welcomed in Israel sport.

    Was there last year, had three Rabbi’s BEG me to get a Bar Mitzvah. One of them literally tried to block my path when I said no!

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  25. Truth says:
    @Achmed E. Newman

    I’m with you, Sport.
     
    This is not good, not good at all...

    No, Mr. Derbyshire and wife have been good immigrants, unless the wife really did vote for Øb☭ma, but that's from some commenter who may not know this. Even many of the Euro immigrants of the modern era are pretty socialist in view, which is not a good thing.

    I respect all of the writings of "the Derb" besides the parts that show misunderstanding of the whole point of this country, and I've seen that a number of times. I'll call it out when I see it ... no charge.

    As for you, Truth, YOU HAVE TO GO BACK ....
    .
    .

    to Huffington Post

    .
    .

    BTW, if Mr. Derbyshire was ripping on guys like Thomas Sowell (he is black) or Walter Williams, well then, I'd be on your side, Truth. Please don't hold that Coates idiot up as an idea of a smart black guy, as that makes us all wonder even more about the rest.

    Oh, I don’t know. By the way a lot of men discern such things, I’d say he’s fairly smart.

    https://networthpost.com/net-worth/ta-nehisi-coates-net-worth/

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  26. @Achmed E. Newman
    The US stock market is denominated in dollars. That's my problem with it, that wouldn't really be one if it weren't only being propped up by all the FED money creation. I don't know if you've ever played musical chairs, Thorfinnson, but it's like that. I don't know when the music is gonna stop, and you don't either, unless you are on Mr. Yellen's staff.

    As far as inflation goes, you may be the one who is not paying attention, or do you just not buy stuff? (Hey, maybe you own all the stuff you need - more power to ya') Check out the shadowstats website sometime. Even without that, I just notice how many things are double in price from the mid-00's and at least from the mid-1990's. Oil is the only thing (albeit an important one) that has been very stable. Big ticket stuff - housing, insurance, medical care, etc. is all up by amounts that don't factor into (even with compounding understood) the ridiculous 1-2% annual rises that our lying Feral Gov't spits out. You should keep in mind that they are really in a pickle and MUST keep the official numbers low - lots of entitlements from Fed-gov are indexed.

    Nope, you are right that if your money just sits in cash, you are losing. Even old ladies and pension funds are FORCED to go risky now, as there is no other choice. It'd be best to have some solid assets. It's a lot, but here is Peak Stupdity's take on the Global Financial Stupidity that's been going on. I'd refer you to Zerohedge too, but they have been too focused on the political end of things lately - it used to be a great site to learn from.

    Doomerism is nearly always wrong, particularly financial doomerism.

    The US stock market is denominated in dollars. That’s my problem with it, that wouldn’t really be one if it weren’t only being propped up by all the FED money creation. I don’t know if you’ve ever played musical chairs, Thorfinnson, but it’s like that. I don’t know when the music is gonna stop, and you don’t either, unless you are on Mr. Yellen’s staff.

    Quantitative easing ended in 2014, and is better described as an asset swap than money creation. Cash went into the market, bonds went into the FED. In fact you can argue that QE is deflationary as it reduces income to the private sector. This might be why it failed as an economic stimulus tool.

    The other commonly cited culprit, stock buybacks, are at their lowest level since 2012.

    The FED also has a lot less power over interest rates than commonly believed (including by the FED itself), and low interest rates increase the net present value of stocks.

    Corporate earnings and dividend growth since 2009 have been robust and track the growth in the S&P 500 Index very well.

    Of course, the high prices for stocks now are a strong indicator that future returns will be poor. But companies will keep paying out and increasing dividends regardless. Or you can just buy REITs or energy MLPs if stock yields are too low for your taste.

    The idea that the Dollar is going to collapse is also dubious and one which has been made for decades by the doom and gloom crowd, but if you believe that simply place your portfolio into international equities. It’s also worth noting that 40% of the revenues of the S&P 500 are made outside the United States.

    Some international equities are very cheap right now. Russia, China, Portugal, Greece, and the Czech Republic come to mind.

    As far as inflation goes, you may be the one who is not paying attention, or do you just not buy stuff? (Hey, maybe you own all the stuff you need – more power to ya’) Check out the shadowstats website sometime. Even without that, I just notice how many things are double in price from the mid-00′s and at least from the mid-1990′s. Oil is the only thing (albeit an important one) that has been very stable. Big ticket stuff – housing, insurance, medical care, etc. is all up by amounts that don’t factor into (even with compounding understood) the ridiculous 1-2% annual rises that our lying Feral Gov’t spits out. You should keep in mind that they are really in a pickle and MUST keep the official numbers low – lots of entitlements from Fed-gov are indexed.

    A Shadowstats subscription has the same nominal price as it did a decade ago. That ought to tell you something.

    The big ticket items you cite are incorporated into BLS data. Housing is imputed through rental prices, insurance is included, as is medical care. Feel free to look at the data yourself. Certainly some practices are dubious, and the Bundesbank maintains that actual inflation in the USA is 30-50 basis points higher than the BLS claims.

    How much those price increases impact you depend on your own consumption mix. In my case I don’t consume healthcare, insurance rates are low in my state, and housing prices have not inflated in my area.

    Manufactured goods have gotten cheaper, service prices are flat, and food has increased modestly in price.

    In my personal case there has thus been modest deflation.

    Nope, you are right that if your money just sits in cash, you are losing. Even old ladies and pension funds are FORCED to go risky now, as there is no other choice. It’d be best to have some solid assets. It’s a lot, but here is Peak Stupdity’s take on the Global Financial Stupidity that’s been going on. I’d refer you to Zerohedge too, but they have been too focused on the political end of things lately – it used to be a great site to learn from.

    Low interest rates are definitely a problem for pension funds (a bad idea to begin with, but that’s a different story). They will need to change their approach, though I would echo Warren Buffet that the greater risk than volatility is foregone returns. Berkshire Hathaway’s corporate pension fund radically departs from conventional pension practice by being primarily invested in equities.

    Zero Hedge is a good read, but another doomerist porn website. The sky isn’t falling and doomerists are nearly always wrong.

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  27. timothyg says:

    Try using your favorite search engine to find an online petition, or way to connect with like minded people, or contact representation in Washington to stop the renewal of DACA.

    90%+ of the suggested links/stories/articles will be for the opposite.

    we are through the looking glass indeed..

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  28. @Achmed E. Newman
    VDare does not have commenting, so consider this a reply to the entire Radio Derb podcast (transcript in this link) of a week or so back.

    Yeah, I'm going to go off the rails here and complain even about a white European immigrant, in this case the writer. This is the problem when the original founding stock of the country, exemplified by the founders of the country who drafted the US Constitution, let people in who JUST DON"T GET IT. See, the inhabitants of the colonies in British North America had been making their way mostly on their own for more than a century. They were as free as had/has ever been seen in history. Hey, I'm not kin to these founders either, but I GET IT. Keep the governments small, dammit!

    Too many of the immigrants over the last 2 centuries, especially going back through the 1880's, were not from "people" who have a history of loving freedom. OK, that's just my introduction - here's my point, using an example of a big contradiction in the podcast (from my reading of the transcript).

    On the segment discussing the new tax plan, I've got no real argument with Derb on the details - it's basically a wash for middle-middle-class families, with the exception of a negative for those itemizing high Yankee-state property taxes and family business itemization (as, standard deduction is doubled, yet exemptions are wiped out). Now this:

    I don’t mind. I’m sure our governments could be a lot more efficient; but plainly they are never going to be, and by comparison with other times and places, we are on the whole well-governed. That’s worth paying for.
     
    That's too much for me. You think we are well-governed, huh, yet in a latter segment, the very interesting concept of the convergence of capitalism and totalitarianism, you admit that big business and the US government have almost complete control now? But, wait, you are fine with how much money you've been sending in had stolen from you from the Feds for over 5 decades?

    This shitshow could be stopped in its tracks if the Feral Government a) did not have this ability to take years of our lives' labor away without dealing with the States first, and b) did not have the ability to print money to both devalue all monetary savings (at least in dollars), as an additional large hidden tax and to keep the show going. As to (a), I get disgusted when people act like good little ignorant drones and don't mind getting reamed. As far as (b) goes, lots of people could learn from a guy like Ron Paul. He'll be the first to tell you that what can't go on, won't go on, and the tremendous debt will be the downfall of the American economy. I'll be the first to tell you that the silver lining in that dark economic cloud is that we will reach Peak Stupidity at that time. That time is in the near future.

    “Too many of the immigrants over the last 2 centuries, especially going back through the 1880′s, were not from “people” who have a history of loving freedom. ”

    Between 1880 and 1920 the US imported two Million Eastern European Jews.

    The cost to the
    legal system: Talmud Parsers replacing English Common Law.
    Culture- too numerous to list, but start with pornography, destruction of nuclear families, normalization of the foulest perversions etc
    Foreign Policy- endless war
    Financialization of the economy- endless debt
    Immigration, topic du jour.

    etc

    The cost would astonish if accurately reckoned.

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  29. @Thorfinnsson


    b) did not have the ability to print money to both devalue all monetary savings (at least in dollars), as an additional large hidden tax and to keep the show going.
     
    This is only an issue if you're a loser who keeps savings in cash.

    In case you're not paying attention the stock market has done very well since 2009.

    A frankly, inflation is very low these days. So even if you're stuffing your money into CDs you aren't losing much.

    Inflation is not “low”. Price inflation has been disguised by govt agencies that cook the books. And let’s make clear what inflation is. It’s inflation of the money supply, which the Fed has been doing at an astounding rate for more than a decade now.

    Inflation is a very effective way for the haves to steal from the have-nots (https://www.forbes.com/sites/billflax/2011/03/03/you-call-it-inflation-i-call-it-theft/#729a10a72bdb). The suckers who hold cash are raped. The poor and middle class see their costs of living continually rise, and their savings destroyed. The people with assets can borrow money cheap, and securities prices go up. And when the inevitable bubble, caused by inflation, pops and the markets crash, the haves get bailed out by the have-nots. What a wonderful system!

    Yeah, so to hell with all those losers.

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