we borrow in our own currency. there is no viable alternative to the us dollar (europe is fucking imploading and the chinese are still devaluing the yuan). the real question is why aren’t we borrowing *more* money to fund infrastructure and defense and shit.

ok now freak out because this seems unintuitive and crazy to your english/poli sci major brain

(http://www.autoadmit.com/thread.php?thread_id=4325635&forum_id=2#38704272)

It’s wise to take a middle position on economic collapse scenarios. Z’s mentioned the “NeverBulls” before – perma-Bears who’ve predicted 10 of the last 3 recessions at ZeroHedge, complete with “Cross of Doom” graphs for midwit quants. I spent a lot of time awaiting that Apocalypse in the last 20 years and suffered financially for it (looked smart in 2001 and 2008 but that made me 90% wrong). The libertarians and GOP (same thing on economics) rely on fiscal fearmongering to sell their snake oil, and I bought in hard.

I think 2008 (and the Cyprus crisis a few years later) showed how collapse will play out in the near future. The owners of the global financial casinos will simply dip into the taxpayers till to back up their bad bets. The guys pimping “gold or die” on the Blaze Levin show and even some credible dissident right outlets are selling their own brand of snake oil.

That said, if recent Wall Street divorce trials and the Epstein scandal show us anything, the global financial system is run by high IQ cokehead degenerates at best and midwit cokehead degenerates on average. Some combination of these guys may cause damage that the system can’t absorb. We can’t completely rule out a collapse even though I think it’s a fairly low probability event. They don’t call these things black swans because they’re predictable or manageable.

The best thing those of us who aren’t plugged into the elite system can do is be antifragile in either circumstance. Follow the Dave Ramsey strategy of avoiding debt and consumerism. Everyone should read this guy and incorporate at least some of what he’s saying into their life planning. Take some of your surplus and do some investing using Taleb’s barbell strategy – keep everything you actually need and then some in cash or other super safe stores of value. Use the surplus to make a number of small high risk/return bets like Bitcoin, startups, volatile stocks etc… The trick is to have a lot of irons in the fire with high enough return that justifying the risk requires only one or two of them to pan out The most important thing to worry about in the barbell is to never risk more money than you can afford to burn. Taleb was very big on emphasizing that the first thing you need to do to succeed in investing is not get ruined and that means never placing yourself in a position where you could possibly be ruined. 2008 crushed a lot of people because they mistook their home and/or 401k for “super safe” investments. Their ruin was a lot more possible than they appreciated. The basic rule that our dads told us about gambling applies – assume any money you gamble is a loss and be able to live with it or don’t make the bet.

The world of investing is really for connected Insiders with access to information or other unethical or illegal advantages. You can play around the edges of it but make sure your ass is covered nine ways to Sunday first. The average individual investor probably has better odds getting rich at the local sportsball book then they do with Charles Schwab or FOREX.

(http://www.autoadmit.com/thread.php?thread_id=4325635&forum_id=2#38704289)

this is just glorified cave dweller ranting

(http://www.autoadmit.com/thread.php?thread_id=4325635&forum_id=2#38704308)

I mentioned crowding out for a reason

(http://www.autoadmit.com/thread.php?thread_id=4325635&forum_id=2#38704437)

immigration/demographics is the only thing that matters.

(http://www.autoadmit.com/thread.php?thread_id=4325635&forum_id=2#38704380)

nigga just read through this thread and others. you’ll forgive me for finding this idea pretty amusing

oh also this one: http://autoadmit.com/thread.php?thread_id=4071613&mc=24&forum_id=2

(http://www.autoadmit.com/thread.php?thread_id=4325635&forum_id=2#38704388)

i talked about this in the op. the chinese own trillions in dollar denominated assets - they have as much a stake in the dollar as we do.

(http://www.autoadmit.com/thread.php?thread_id=4325635&forum_id=2#38704410)

You're an idiot, got it.

(http://www.autoadmit.com/thread.php?thread_id=4325635&forum_id=2#38704447)

You don't think it could turn into the entire world vs. US & Israel because we spend money willy-nilly?

What's stopping them from doing the same and just declaring they'll take care of it?

(http://www.autoadmit.com/thread.php?thread_id=4325635&forum_id=2#38704481)

The United States, China and Saudi Arabia are joined at the hip. There is no viable alternative to the US dollar as the global reserve currency. None. The euro zone is imploading - it’s closer to collapsing than challenging the dollar. Yields are dropping and the dollar is strengthening because....money still pours into the us during times of economic uncertainty.

We can borrow incrementally more money given these facts. And the debt isn’t some existential crisis - it’s not like we pay interest in another currency that could suddenly move against the dollar (like the Russian/Asian financial crises)

(http://www.autoadmit.com/thread.php?thread_id=4325635&forum_id=2#38704508)

It's a perfectly rational to be upset that the US spends billions on retarded shit.

(http://www.autoadmit.com/thread.php?thread_id=4325635&forum_id=2#38704527)

I don’t think the Chinese view national economic suicide to be a stop on the path to global superpower status. The US and China are tied together. This makes me optimistic that neither party will do something truly retarded to wreck the global economy or risk a hot war

Everyone other than the us and China are mostly irrelevant

(http://www.autoadmit.com/thread.php?thread_id=4325635&forum_id=2#38705789)