Basic Economics

Discussion in 'Too Hot for Swamp Gas' started by texigator, Oct 7, 2013.

  1. texigator
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    texigator Well-Known Member

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    After having a discussion with a good friend who is a liberal the other day, it occurred to me that most people probably don't have alot of economics course study in their background. This clip is a great explanation of the fundamentals of the economy with regard to credit and cycles and I would love to hear what people think is going to happen as the cumulative effect of many years of trillion dollars of deficits finally come home to roost.

    Enjoy!

    https://www.youtube.com/watch?v=PHe0bXAIuk0#t=61
  2. gatordowneast
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    gatordowneast Premium Member

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    Tex, you will get nowhere with your liberal friend. They are "right" brainers (similar to artists). They "feel", but cannot reason. You can add columns of numbers, point out historical similarities...it doesn't matter to a libbie.
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  3. Gatorrick22
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    Gatorrick22 Well-Known Member

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    Yes, and they take but do not give - and they are in the mindset that everyone should get something for free - and that we as a country should work together like one big commune. Insuring that their ilk get to live off of other people's money.
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  4. oldgator
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    oldgator Premium Member

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    looks like another message board circle jerk of cons stroking each others egos by trying to one up each other in making insults directed at libs....

    oh, you are so smart(sarcasm)
    oh, you are so brave(sarcasm)
    oh, you are so in a bubble of self deceit

    Economics is about people, businesses, foreign countries, education, health, and a myriad of other facts----fact is, in order to study and evaluate economy a person better be able to use both sides of their brain---the 'feeling' humanitarian side as well as the analytical side.
    ---humanitarian--to understand the needs of people, their hopes, their tendencies, etc
    ---analytical---to create cute little charts that are wrong if done without the humanitarian side of the brain's understanding those aspects of economy.

    To run a business well-a person needs both sides of their brain

    If you are satisfied with not using your humanitarian side---you have in essence given yourself a lobotomy(by failing to use half your brain) and are by definition a half wit.
  5. GatorRade
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    GatorRade Well-Known Member

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    Did you recently watch a "basic psychoanalysis" video?
  6. oldgator
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    oldgator Premium Member

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    before delving into 'basic economics' it might help you to do th most basic part of basic economics.

    namely--understanding definition of economics

    http://www.investopedia.com/terms/e/economics.asp

    Definition of 'Economics'
    a social science---I'm surprised none of you have resorted to calling economics a commie plot because it is a 'social' science.

    first and foremost---economics is about people...both in terms of individuals as well as people in groups. Being about people, to be effective in understanding economics---it is essential to understand people. their drives, their emotions, their hopes, their dreams, their human faults, their assets of character, etc. Without that understanding of people, a person can't understand economy. All the person who claims to be talking about economy but disregards human nature, etc is doing is creating useless charts and living in a fantasy world of self inflicted delusion.
  7. mdgator05
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    mdgator05 Premium Member

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    Yes that is why particularly high reasoning fields, such as law and academia, have nothing but conservatives in them. Oh they don't? That's odd.
  8. oldgator
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    oldgator Premium Member

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    seems cons in this thread envision a Sheldon Cooper(Big brain theroy) as being ideal role model for them---
    ---brilliant with numbers but totally whacked when it comes to understanding himself and others. And doesn't even see the bubble he's in.
  9. 92gator
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    92gator Well-Known Member

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    He'll get there...eventually....he just won't give you any credit.

    Just last night my wife shows me this FB posting (she's on FB, I'm not)--of a mutual friend, a flaming libby...posts in reply to another mutual friend's post showing how he was getting screwed by Obamacasre--that she thinks Obamacare sucks...and sneaks some crappola about how she always knew it wouldn't work...LMAO!

    Told my wife I'd have a helluva a lot more respect for her if she just owned that she didn't know how the hell it was going to work, or that she honestly didn't see it coming out as it did...than insult everyone's intell., by pretending she was never for it...

    ...but we'll take what we can, however it comes.
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  10. LostReptile
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    LostReptile New Member

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    the economy doesn't work like a "simple machine" -- it's vast, complex and often random, with unexplainable reactions to events based on fear, hindsight bias, overreaction....
  11. ArtDeco
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    ArtDeco Well-Known Member

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    I enjoyed this, as I enjoy most of your posts. Funny story.
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  12. 92gator
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    92gator Well-Known Member

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    ^^^Thank you. It's especially funny, since it is true.
  13. RealGatorFan
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    RealGatorFan Well-Known Member

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    Some of this is true - that liberals tend to stare blankly when numbers are thrown at them. But it is also true with poor conservatives. Considering that being poor equates to lack of economics sense and being poor equates to being more liberal (for a reason of course), it seems liberals in general lack economic sense.

    The issue most people only listen to other people without fact checking. Take Obama's remarks about the US defaulting if the Republicans don't pass his bill. Not true and actually it is false and he's being an alarmist. The fact is the government gets $250 Billion in taxes each month. Interest on debt is almost $25 Billion each month. We are mandated by law (Obama is not above the law like he thinks he is) to pay our interest on debt before anything else. That means we cannot default unless we purposely withhold payment, which is illegal and look it up, punishable by death. It's the same as treason. So, before we ever default, most likely we have to pick what other things we can pay. Obama knows entitlement programs will be hit and that means pissed welfare junkies.

    But the fact is, we can't default if the debt ceiling isn't raised. Obama is a liar and someone should call him on it on TV.
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  14. Clayton
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    Clayton New Member

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    Enjoy ? What, enjoy the effects of the last guy that YOU helped put into office......such as a doubling of the debt over 8 years and bringing the deficit from a near surplus to a $1.2 trillion deficit ? Weird how you weren't posting so much about the debt and deficit then.....

    But no....I doubt anyone will enjoy the harmful deficit spending you helped foist upon.

    Thank GOD that President Barack Obama has lowered the deficit left to him by his Republican predecessor, with the 2013 deficit forecast to be about half of the $1.2 trillion left to him by Bush in 2009.

    Oh, hey, by the way......when was the last time a Republican actually left office with a deficit lower than when he began his term ? Eisenhower ? Seriously.....50 years ago ? Fortunately, (including Obama) BOTH the last two Democrat Presidents will have left office with a deficit lower than when they began their term.


    So never mind those pesky little facts, you may now get on with the right-wing circle-jerk about how all you fiscally responsible Republicans care so much about the deficit. It's amusing to watch. Especially for those of us that are the slightest bit concerned with actual FACTS. :)
  15. texigator
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    texigator Well-Known Member

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    Interesting point. I never thought about political orientation in terms of left brain/right brain, but I can easily see how it would apply. It also explains why debates with "progressives" usually end right after they begin because they usually can't defend their positions with facts and logic, but, rather with emotion and utopian ideals.

    I'm a right brainer, myself.
  16. 92gator
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    92gator Well-Known Member

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    Doh!

    Sorry Clay, but 'Bush's fault' expired years ago. Try again.

    btw, if you want to make historical comparisons, at least keep the players straight:

    POTUS has executive authority, and is commander in chief--as such, he is the primarily responsible for foreign affairs, and domestically, more subjective stuff like national morale.

    Congress controls the purse strings (haven't you been paying attention to what's keeping Obamacre at bay????).

    So...when was the last time a Democrat controlled congress left a deficit lower that what it began with?

    Because that Clintonian *surplus* neo-libbies like to boast of and flaunt....under a GOP Congress...

    ...and the Great Recession, and the resulting Debt Explosion?

    Dummy-rat controlled Congress, since '06.

    :dog:
  17. texigator
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    texigator Well-Known Member

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    We can clearly get by without your dreck, Rambo.
  18. texigator
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    texigator Well-Known Member

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    Another partisan fool post. You actually think I'm a Republican! HAHAHAHAHAHAHA

    I love to read the moronic Democrat partisan fool Pavlovian posts by people who can't see any issue outside the context of their own selfish partisan position and think that all others are so equally blind.

    What was your name before, Clayton? Either you weren't around when Bush II was President and only came here when Bush III took office, or else you are just lying about my posting because I screamed about the deficits under W as completely irresponsible. Of course, Bush III doubled down and made W's deficits look like spare change.
  19. texigator
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    texigator Well-Known Member

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    The central point of the clip, which I'm sure escapes the "progressives" here is that one of the major factors that affects the economy is credit. And credit creates boom and bust cycles. Borrowing allows spending to be moved forward. Credit increases economic activity but by spending more than you make in the short term will require you to spend LESS than you make ("austerity measures", anyone?) in the long run.

    So Obama has chosen to spend our children's and grandchildren's money TODAY to prop up an economy with huge amounts of credit, that will ultimately result in a lesser future and that money gets repaid one way or another, either with dollars paid back or with dminished purchasing power of our currency, through inflation.

    But be sure and keep your heads in.....the sand, "progressives" and worship your mighty leader who is transforming our nation into a second-rate power, just like everyone else.

    You must be so proud in your ignorance.
  20. gatorpa
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    gatorpa Well-Known Member

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    Truman returns with more BS!
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