[MrBill]

$this->bbcode_second_pass_quote('seldom_seen', '')$this->bbcode_second_pass_quote('MrBill', 'D')ebt & savings are two sides of the same coin. YOu cannot have one without the other. Taking on debt is sacraficing future consumption for present consumption.

[seldom_seen]

$this->bbcode_second_pass_quote('MrBill', 'M')y feeling is that if the system goes through a serious period of correction that those who are successful now under this system will be those that are successful under any other system that replaces it.

[MrBill]

$this->bbcode_second_pass_quote('seldom_seen', '')$this->bbcode_second_pass_quote('MrBill', 'M')y feeling is that if the system goes through a serious period of correction that those who are successful now under this system will be those that are successful under any other system that replaces it.

[seldom_seen]

$this->bbcode_second_pass_quote('MrBill', 'O')f course, that does not mean someone might not kill me for my troubles, but that is something I cannot prepare for.

[MrBill]

$this->bbcode_second_pass_quote('seldom_seen', '')$this->bbcode_second_pass_quote('MrBill', 'O')f course, that does not mean someone might not kill me for my troubles, but that is something I cannot prepare for.

[CrudeAwakening]

$this->bbcode_second_pass_quote('MrBill', '
')Debt & savings are two sides of the same coin. YOu cannot have one without the other.

[Mesuge]

$this->bbcode_second_pass_quote('ElijahJones', ' ')Think about this, is there a single decision you can make that affects the future of George Bush?
EJ

[MrBill]

$this->bbcode_second_pass_quote('', 'I') think you can. The money supply is increased through the generation of debt. If I borrow from a bank, my debt is not someone elses's savings, it is new money created for the purpose of the loan. But I'd have to save in order to repay that debt, if that's what you mean.

[shakespear1]

Mr.Bill

I am rather late to this discussion but would like to comment on the following.


$this->bbcode_second_pass_quote('', 'I')t reminds me of a debate a few years ago in academia. There was a feeling that math & sciences were too male oriented and that natural laws reflected male bias. It turned out to be a total hoax, but it sucked a lot of academics into the debate about whether the pseudo sciences were of equal value to the hard sciences. It was pretty funny in the end. People lining up to say that the old laws no longer apply. Looking for that new paradigm to explain how everything, even the natural world and physics had changed. Smile

[MrBill]

$this->bbcode_second_pass_quote('shakespear1', 'M')r.Bill

I am rather late to this discussion but would like to comment on the following.


$this->bbcode_second_pass_quote('', 'I')t reminds me of a debate a few years ago in academia. There was a feeling that math & sciences were too male oriented and that natural laws reflected male bias. It turned out to be a total hoax, but it sucked a lot of academics into the debate about whether the pseudo sciences were of equal value to the hard sciences. It was pretty funny in the end. People lining up to say that the old laws no longer apply. Looking for that new paradigm to explain how everything, even the natural world and physics had changed. Smile

[RacerJace]

Mr.Bill I think you spend far too much time on these forums....!

[MrBill]

$this->bbcode_second_pass_quote('RacerJace', 'M')r.Bill I think you spend far too much time on these forums....!

[linlithgowoil]

mr bill - im glad you'll be fine no matter what happens, it must be a great feeling to be one of the 'haves'. but lets face it, you were lucky. your family owns substantial amounts of land. this means that at some point in the past, your family was some kind of wealthy nobility class and i am therefore not surprised at all that you;ve done very well out of the system.

i'd like to see how well you would have done if you came from an inner city family that had zero assets and no money - the odds are that you would have been one of the 'have-nots' for the rest of your life. sure, through 80 hours hard work a week you just might have got to university and bulit up £30,000 of debt, only to then have to take a job in mcdonalds because there arent enough graduate jobs around, and the ones that are around. or maybe you would have invented something etc.

i guess its ok when 'im alright jack' though.

me - i came from a poor familyof 5 children. i went to university, studied law and am now a lawyer. because i had no money, i had to borrow around £25,000 to do this. i cant pay this off now because lawyers get piss poor wages in my country - not a whole lot more than a taxi-driver. isnt that pathetic?

[Byron100]

sorry, double post...

[Byron100]

$this->bbcode_second_pass_quote('Byron100', 'm')e - i came from a poor familyof 5 children. i went to university, studied law and am now a lawyer. because i had no money, i had to borrow around £25,000 to do this. i cant pay this off now because lawyers get piss poor wages in my country - not a whole lot more than a taxi-driver. isnt that pathetic?

[MrBill]

$this->bbcode_second_pass_quote('linlithgowoil', 'm')r bill - im glad you'll be fine no matter what happens, it must be a great feeling to be one of the 'haves'. but lets face it, you were lucky. your family owns substantial amounts of land. this means that at some point in the past, your family was some kind of wealthy nobility class and i am therefore not surprised at all that you;ve done very well out of the system.

i'd like to see how well you would have done if you came from an inner city family that had zero assets and no money - the odds are that you would have been one of the 'have-nots' for the rest of your life. sure, through 80 hours hard work a week you just might have got to university and bulit up £30,000 of debt, only to then have to take a job in mcdonalds because there arent enough graduate jobs around, and the ones that are around. or maybe you would have invented something etc.

i guess its ok when 'im alright jack' though.

me - i came from a poor familyof 5 children. i went to university, studied law and am now a lawyer. because i had no money, i had to borrow around £25,000 to do this. i cant pay this off now because lawyers get piss poor wages in my country - not a whole lot more than a taxi-driver. isnt that pathetic?

[MrBill]

I paid my own way through university without help from my parents, took on modest levels of debt, maybe $7000, and paid it off after I graduated

[CrudeAwakening]

$this->bbcode_second_pass_quote('MrBill', ' ')Most banks do not 'print' money, but you are right, new money can be created through the fractional reserve banking or the deposit creation multiplier. The Treasury would then increase money supply to cover this increased lending activity. The money that the Treasury prints is covered by purchases of treasury bills & notes by foreign & domestic investors through primary dealers. Savings & investment equal borrowing & debt.

[MrBill]

$this->bbcode_second_pass_quote('CrudeAwakening', '')$this->bbcode_second_pass_quote('MrBill', ' ')Most banks do not 'print' money, but you are right, new money can be created through the fractional reserve banking or the deposit creation multiplier. The Treasury would then increase money supply to cover this increased lending activity. The money that the Treasury prints is covered by purchases of treasury bills & notes by foreign & domestic investors through primary dealers. Savings & investment equal borrowing & debt.

[Bootstrapper]

$this->bbcode_second_pass_quote('ElijahJones', 'H')ypothesis: We live in an age when a version of economic theory is informing the decisions of the most powerful people in the world. A time when the "haves" literally own everything (including science) and careers are made or broken for the sake of money and prestige. Peak oil cannot be properly understood unless we also look at it in its proper context. Its not just a physical problem it is an economic and a psychological problem. It says something about humanity, something very profound. Let me ask you a telling question. How free are you? Are you as free as Bill Gates? Are you as free as Warren Buffet? Think about this, is there a single decision you can make that affects the future of George Bush? Is there a single decision that he can make that affects your future? Who gives the powerful their advice and what happens to those who oppose them? If you look carefully you will see that the nature of the world has not changed in recorded history, the powerful still rule over the weak. Just because they have now allowed you an SUV and a home does not mean you are not a slave. If push came to shove they would gladly see you impoverished and not think twice. American society suffers from the American delusion that the American Dream is accessible to everyone. Of course this cannot be true, there are a finite amount of resources and many people willing to do just about anything to win. How long can the illusion of democracy exist when the nature of humanity is about empire?

That is a set of thoughts with some amount of rhetoric but I have been thinking about this because I see that very often funding for science is based upon who likes or does not like your idea. Meddle in the wrong matters or claim to be able to produce information that alters someone's financial future and you will quickly find out what humans cherish, its not truth baby. I would just like to see how many of you are near enough to the glass ceiling to recognize these things. Is what I have said true? If so how can we change it?

EJ