Wow, Tesla laying off more than 10% of its world wide workforce, two Top Executives leaving

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Policy encourages savings since money bottled up in savings or investments is not out on the street where it would cause inflation. Capital gains should not get a tax break versus other income though.
 
mk378 said:
Policy encourages savings since money bottled up in savings or investments is not out on the street where it would cause inflation. Capital gains should not get a tax break versus other income though.
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From 2008 to 2019 much of the time inflation was below the fed target, which is why we had ZIRP and NIRP. So clearly this is not the reason. These policies have been in place for a century or more. Inflation has only been a concern a small portion of the time.
 
dlundblad said:
Also, why are we paying taxes if the government is allowed to print money? 🤔
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Because that money has a value behind it, usually a gold reserve. If you print more money the existing moneys value becomes less. I.e. you're diluting the dollar.

I'm a capitalist through and through. But you have to have socialist policies to ensure people don't end up on the street or starve to death.
 
Bailes1992 said:
Because that money has a value behind it, usually a gold reserve. If you print more money the existing moneys value becomes less. I.e. you're diluting the dollar.

I'm a capitalist through and through. But you have to have socialist policies to ensure people don't end up on the street or starve to death.
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Total agree, I am the same. Some groups and individuals take a just and reasonable thing to extremes though and that makes people bitter as hell. I saw on the news a couple of months ago where veterans some disabled were kicked out of their housing to make room for illegals. I cannot tell you how much that disturbed me.
 
SC Maintenance said:
Problem with regulation is its never actually done. The banks were supposed to be regulated in 2007, except the regulators were not smart enough to know the banks were leveraged 30X, and the ratings agencies were too stupid to figure out when you burry junk debt into a CDO you shouldn't call it investment grade. All the regulators really wanted to work for the investment banks so do you think there going to do there job - of course not. Moral hazard is supposed to prevent this but we had none in 2008.

We will have another incident like this at some point in the future. It will be different but the same. Nothing was fixed. Laws won't work because they will find ways around them. Until we let banks fail and put bankers in jail when they cheat, nothing will change.
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It was absolutely criminal no one went to prison after 2008. The single biggest problem is the regulators are all from the same lot as the bankers. The conventional wisdom is that these financial instruments are too complex for a non-industry person to understand and so you have to hire from Wall Street to regulate Wall Street. Meanwhile, they aren't hard to understand and the regulators are all buddies with the Wall Street guys.
 
Trav said:
Total agree, I am the same. Some groups and individuals take a just and reasonable thing to extremes though and that makes people bitter as hell. I saw on the news a couple of months ago where veterans some disabled were kicked out of their housing to make room for illegals. I cannot tell you how much that disturbed me.
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We are having similar issues in this country. We have immigrants that are travelling across Europe through perfectly safe countries to the UK just because we are a soft touch and will house them and give them £1,600 every month in benefits. Meanwhile affordable housing is non existent, our health services are on their a*se and we rack up huge national debts.

Our own should always come first and we shouldn't be welcoming these migrants with such open arms.

I've always said the only immigrants we should have are those that benefit our economy. Those who's expertise we are short of and will benefit everybody.
 
dlundblad said:
Also, why are we paying taxes if the government is allowed to print money? 🤔
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If you think things are bad now I want to envision a world where quantitative easing/"printing of money" isn't just used to make up deficits in the budget and stimulate economic activity during extraordinary events, and instead, it's used to fund 100% of the budget.
 
slo town said:
Government regulations? I'm more a fan of financial "regulations", and even then that term is too vague.

Instead I like the term "budgetary regulations". No one can constantly spend (and spend at increasingly higher rates!) more money than they earn, the government included.

Since I took a shot at Greenspan, the President who took us off the gold standard is the root cause of our inflationary and budgetary problems. That President, who threw Bretton-Woods under the bus, gave Greenspan the opportunity to wreak his havoc.

And, @JeffKeryk, with you and me being Silicon Valley types, both you and I well know salary planning is a zero sum game in our business. When I managed a team of engineers I only got so much money to reward the team who worked for me. Some people get raises, others didn't. And in every single case I always rewarded those who made the greatest contributions to the team's efforts.

The government lives in financial fairyland compared to the pure capitalism you see in Silicon Valley. Silicon Valley often gets a bad rap from those who haven't lived or worked there. People think Silicon Valley is for softies. Not! Silicon Valley has a take no prisoners mentally. Silicon Valley is a land of the survival of the fittest.

Scott
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Heck Ron Paul said if he ran his practice like the government he'd been bankrupt his first year in business.
 
Trav said:
Total agree, I am the same. Some groups and individuals take a just and reasonable thing to extremes though and that makes people bitter as hell. I saw on the news a couple of months ago where veterans some disabled were kicked out of their housing to make room for illegals. I cannot tell you how much that disturbed me.
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Sickening isn't it?
 
Bailes1992 said:
Because that money has a value behind it, usually a gold reserve. If you print more money the existing moneys value becomes less. I.e. you're diluting the dollar.

I'm a capitalist through and through. But you have to have socialist policies to ensure people don't end up on the street or starve to death.
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Diluting the dollar since August 1971. No gold backing anything. So its a fair question - why tax anything?

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SC Maintenance said:
Diluting the dollar since August 1971. No gold backing anything. So its a fair question - why tax anything?

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Part of the rationale of going off the gold standard was there simply wasn't enough gold to continue economic growth at the rate it was growing. There is also a finite amount of gold on earth. Economic growth was in turn being fueled mostly by population growth. Imagine a world where we either restricted population growth (hello China and how's that working for them now?) which would've restricted US economic growth and we would not be where we are now or there was a finite amount of money being diluted by an ever increasing number of people - literally a scarcity of money. At some point population and available gold diverges and every country that has reached this point has gone off their standard.

I don't know what else we could've have done but I'm open to suggestions...
 
Folks - we’ve wandered into monetary policy, immigration, social benefits, and a few other politically charged topics.

Let’s take a break until we are ready to talk about Tesla, the company, the putative topic of this thread.
 
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