AND 3. IF the EURO collapses THEN SO DOES the US DOLLAR! IF THAT HAPPENS: China and India SUFFER MASSIVE SOCIO-ECONOMIC MEGA-DISASTER! IF THAT HAPPENS: GAME OVER! Period! NO IFS AND OR BUTS ABOUT IT! SO: Credit Rating Agencies need to BACK OFF ASAP! THEY NEED TO STFU ASAP! Because THEY are FALSELY CREATING a DISASTER! Ask former Labour Secretary Robert Reich AND Wall Street Man of Wisdom Mike Norman. PERCEPTION CAN BE MANUFACTURED ON FALSE INFO. BANKS need to LOAN MONEY WISELY and be REGULATED!
To those commenting here who think they know more about this than Mike Norman: let me explain a few things: 1. While the National Debt is very high (no thanks to the previous administration's misadventures and bad policies): it cannot ever be paid off by freezing the flow of cash! NEVER! ONLY by Wiser Crediting can WE invest in the New Technologies and what not URGENTLY NEEDED to both FUEL the ECONOMY and SAVE THE WORLD! 2. SimpleMinded FALSE LOGIC thinks: Credit Rating Agencies are INFALLIBLE!
I TOTALLY AGREE! 1 ZILLION PERCENT! LET's GET THE MESSAGE OUT THERE: "THERE IS NO PHUNKING DEBT CRISIS...BUT THERE ARE THOSE WHO WANT TO MAKE SHORT-TERM PROFITS BY LYING TO US ABOUT IT!" THERE IS A CRISIS OF MISCONDUCT ON THE PART OF CREDIT RATING AGENCIES THAT CAN NO LONGER FIGURE OUT WHAT IS GOING ON! BECAUSE IDIOCRACY HAS NO LIMITS AND IDIOTS HAVE CHEATED EXAMS TO GET INTO THOSE AGENCIES! PERIOD! Mike Norman for President!
And then...Try this: Add 2 people to the prescribed game (marker suggestion: buttons) and maybe don't raise taxes the first time. You'll quickly find there isn't enough product to meet aggregate demand. That's inflationary.
....How do the players get money? The banker literally spends it into existence. When you land on Luxury Tax or draw a Chance card that instructs you to pay taxes, who gets that money? The bank! Try this: What if we experimented with the game Monopoly? Let's try paying 2x the amount it asks. Not 2 times the rents or mortgages, just taxes. Would that slow the game down any? Try 3x all tax bills. Try it. You'll like what you learn. :)
Of course the US can afford to pay any amount for any thing at any time. As I understand it, if the debt clock in New York read $0 it would mean not one of us would have even $1 to our name. And that makes me wonder where I'm going to get the money to pay my taxes for 2011? We've all played the game Monopoly. You know the banker? That's the Central Bank of that board.
To say there is no debt crisis is to say the US can afford to pay off the 13 trillion dollars of debt it has (100% of GDP) and the $100 trillion in off balance sheet unfunded liabilities. Not to mention the possible bailout of the $800 trillion derivative market.
Is this, in your opinion, a result of the European debt crisis? Are markets looking to safety over yield and want to park their money in t-bills out of fear of a eurozone collapse or default? Your feedback would be much appreciated.
@WilhelmDrake I was thinking the same thing. What is the point of buying treasuries at 0% when you can just hold cash? Maybe it has something to do with some banks who were offering negative interest on large deposits (as I heard a couple weeks ago).
Whoa, wait a minute. Is this fellow asking those creditors and lenders to blow his head off? After billions of money sent to the spenders?
Be careful when you speak those words when you're talking to banks or worse, loan-sharks.
ltmikepowell 2 months ago
Thank you for the breath of fresh air you provide. Keep up the great work!
500JJPIMP 2 months ago
Europe debt crisis is causing a flight from there to here, causing dollar to go up temporarily. WE're next.
kidbilly1970 2 months ago
No debt crisis? You're an idiot...
kidbilly1970 2 months ago
AND 3. IF the EURO collapses THEN SO DOES the US DOLLAR! IF THAT HAPPENS: China and India SUFFER MASSIVE SOCIO-ECONOMIC MEGA-DISASTER! IF THAT HAPPENS: GAME OVER! Period! NO IFS AND OR BUTS ABOUT IT! SO: Credit Rating Agencies need to BACK OFF ASAP! THEY NEED TO STFU ASAP! Because THEY are FALSELY CREATING a DISASTER! Ask former Labour Secretary Robert Reich AND Wall Street Man of Wisdom Mike Norman. PERCEPTION CAN BE MANUFACTURED ON FALSE INFO. BANKS need to LOAN MONEY WISELY and be REGULATED!
TheFreeAdviceMan 2 months ago
To those commenting here who think they know more about this than Mike Norman: let me explain a few things: 1. While the National Debt is very high (no thanks to the previous administration's misadventures and bad policies): it cannot ever be paid off by freezing the flow of cash! NEVER! ONLY by Wiser Crediting can WE invest in the New Technologies and what not URGENTLY NEEDED to both FUEL the ECONOMY and SAVE THE WORLD! 2. SimpleMinded FALSE LOGIC thinks: Credit Rating Agencies are INFALLIBLE!
TheFreeAdviceMan 2 months ago
I TOTALLY AGREE! 1 ZILLION PERCENT! LET's GET THE MESSAGE OUT THERE: "THERE IS NO PHUNKING DEBT CRISIS...BUT THERE ARE THOSE WHO WANT TO MAKE SHORT-TERM PROFITS BY LYING TO US ABOUT IT!" THERE IS A CRISIS OF MISCONDUCT ON THE PART OF CREDIT RATING AGENCIES THAT CAN NO LONGER FIGURE OUT WHAT IS GOING ON! BECAUSE IDIOCRACY HAS NO LIMITS AND IDIOTS HAVE CHEATED EXAMS TO GET INTO THOSE AGENCIES! PERIOD! Mike Norman for President!
TheFreeAdviceMan 2 months ago
And then...Try this: Add 2 people to the prescribed game (marker suggestion: buttons) and maybe don't raise taxes the first time. You'll quickly find there isn't enough product to meet aggregate demand. That's inflationary.
mortgageangel9 2 months ago
....How do the players get money? The banker literally spends it into existence. When you land on Luxury Tax or draw a Chance card that instructs you to pay taxes, who gets that money? The bank! Try this: What if we experimented with the game Monopoly? Let's try paying 2x the amount it asks. Not 2 times the rents or mortgages, just taxes. Would that slow the game down any? Try 3x all tax bills. Try it. You'll like what you learn. :)
mortgageangel9 2 months ago
Of course the US can afford to pay any amount for any thing at any time. As I understand it, if the debt clock in New York read $0 it would mean not one of us would have even $1 to our name. And that makes me wonder where I'm going to get the money to pay my taxes for 2011? We've all played the game Monopoly. You know the banker? That's the Central Bank of that board.
mortgageangel9 2 months ago
To say there is no debt crisis is to say the US can afford to pay off the 13 trillion dollars of debt it has (100% of GDP) and the $100 trillion in off balance sheet unfunded liabilities. Not to mention the possible bailout of the $800 trillion derivative market.
malumalumalu 2 months ago
@malumalumalu
As the US is monopoly issuer of the currency, that is what he is saying.
WilhelmDrake 2 months ago
Is this, in your opinion, a result of the European debt crisis? Are markets looking to safety over yield and want to park their money in t-bills out of fear of a eurozone collapse or default? Your feedback would be much appreciated.
christo930 2 months ago
If by "market" you mean the Fed's proxies, I agree.
helpendthefed 2 months ago
Dear Mr Norman,
Are 0% Treasuries almost the same as holding cash?
Why would someone want a 0% Treasury instead of cash?
Pardon my ignorance if my questions sound dumb.
Thanks,
Vilhelmo.
WilhelmDrake 2 months ago in playlist More videos from mikeydoggy
@WilhelmDrake I was thinking the same thing. What is the point of buying treasuries at 0% when you can just hold cash? Maybe it has something to do with some banks who were offering negative interest on large deposits (as I heard a couple weeks ago).
christo930 2 months ago
1/4 of a trilley at 0%! Yea the $ is going to Zero! RIIGHT!
Minethis1 2 months ago
Mr. Norman:
Banks are not lending... If that is not a Crisis, I don't know what is...
chimandude 2 months ago