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Toto deVeer

Consume Or We Die...

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From Dow Jones Newswire:

Brazil's Lula Says World Headed For 'Bankruptcy' Unless Rich Nations Act

SEOUL (AFP)--Brazilian President Luiz Inacio Lula da Silva said Thursday the world economy was headed for "bankruptcy" unless rich nations raise consumer demand rather than relying on exports to power recovery.

"If they don't consume, and they just bet on exports, the world will go into bankruptcy," he told reporters as leaders at the Group of 20 industrial and developing nations headed into a two-day summit in the South Korean capital.

No sh*t Sherlock...

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From Dow Jones Newswire:

No sh*t Sherlock...

Within 5 years, China will be at the start of the biggest credit bubble in World history.

That should pull us out.

hasta la victoria siempre!

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message...dont spend ALL your spare cash on a house....which is the idea of low interest rates...to get people spending in the economy.

Houses produce little wealth after they are built.

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message...dont spend ALL your spare cash on a house....which is the idea of low interest rates...to get people spending in the economy.

Houses produce little wealth after they are built.

People create wealth and houses are tools which help people create wealth. No tool creates wealth on its own and houses are no different.

However, importantly, unlike other tools, houses also occupy the opportunity to create wealth and so when a buyer buys a house he is buying a tool and also paying to occupy an opportunity to create wealth which is in fixed supply.

Edited by Stars

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If the world does become bankrupt, will humanity be repossesed or will there be a special scheme to protect us ?

alien.jpg

:D

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From Dow Jones Newswire:

Brazil's Lula Says World Banks and Fiat Money Headed For 'Bankruptcy' Unless Rich Nations Act

No sh*t Sherlock...

I have corrected the statement.

The world existed way before fiat money and banks were invented and will continue to exist (and be a happier place) once banks and fiat money disappear.

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"If they don't consume, and they just bet on exports, the world will go into bankruptcy,"

If they don't consume, and they just bet on exports, the world will print a shit load more money and cause rampant inflation in my county.

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slight problem with that consumption argument..

Not enough resources

But I thought we lived in a service based economy.

Nobody is required to produce a physical product.

We all just consume each others services. <_<

And judging by the posts in the two current under 35/over 35 income threads the guys who are providing nothing more than a service are doing very well out of it.

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But I thought we lived in a service based economy.

Nobody is required to produce a physical product.

We all just consume each others services. <_<

Isn't manufacturing an item a service?

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Yeah all we need to do is consume and buy more things we don't need.

Every living room must have 3 TV's, lets make it law and then charge a tax for having 3 TV's in your living room. Also we must have at least 1 TV in each bedroom or you get fined and if you do have 1 TV in each bedroom you get taxed.

Save the world and spend your money.

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Services I thought meant lifestyle coaches, interior designers, fitness trainers and prostitutes. All the hallmarks of a successful economy,

I'm sure we could make two big lists, but is there actually any economically significant distinction under the word?

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I'm sure we could make two big lists, but is there actually any economically significant distinction under the word?

can you monetise a service?

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Services I thought meant lifestyle coaches, interior designers, fitness trainers and prostitutes. All the hallmarks of a successful economy,

One of those professions is actually useful!

Sorry, going off-topic.

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Guest spp

Lots of paper money experiments are about to come a spectacular end.

Does buying silver count?

My average spot buy is around $14oz, so if they can criminally short it down just a bit further...I'll do my bit!

Rich nations??? Does that mean the West is not invited? :lol:

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  • 144 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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