Occupy Dallas

[Denny]

I lived paycheck to paycheck for most of my adult life. I always had work and I always paid my bills, or did without.

Funny thing though, I have finally reached a level where I am much more comfortable, and guess what? I still live within a conservative budget. I don't think that is going to change for most people.

I'm not sure what everyone wants to try and "fix". Or how. I can think of many things that are crappy and need to be abolished because they are counter to prosperity. Just to be fair, I'll throw out something; abolish capital gains taxes on dividends. Talk about making capital available...

I grew up boarder line poor and refuse to ever go back. I also learned from those mistakes where 'others' would rather point fingers and cause trouble I have focused on making it work.

Unless you are a single mom with 5 kids, there is most likely room for saving.

Because of another issue entirely, instant gratification. Making an economy that isn't focused on debt won't change human nature and these people will live exactly the same as they do now because they lack discipline. The only difference is that people who want to get ahead won't be able to do so. Catering to the least common denominator just means we all live like shit.

While I agree that people put money into the financial system and lose it, saying that their earnings should keep their value perpetually is more idealism. That has never happened and never will. The solution to all this is educating people about money. We don't do that in school and people are dumb because of it, we've got entire industries that take advantage of dumb people. The supply side of the dumb people equation needs to stop, not the demand side. The demand side is actually called capitalism, btw.

Because of this debt-driven system!

Society pushes for people to go into debt. It is totally acceptable to live outside your means. Hell, even I still have a house payment even though I can pay it off right now.

America has built this system and it is tearing people apart by design. It is doing what is was supposed to do. Even you guys that think you're ahead of the system (LOL) are in for a rude awakening.

[Bassics]

Capitalism involves debt by default.

So you want to get away from capitalism?

It sounds like you are attempting to blame capitalism for not being socialism.

[Denny]

Capitalism involves debt by default.

So you want to get away from capitalism?

It sounds like you are attempting to blame capitalism for not being socialism.

Negative. You can have capitalism without this fiat currency bullshit.

BTW, we aren't experiencing capatilism now, so how do we know?

[Snatch Napkin]

Fuck Social Media, I'll stick with Furburger. Furburger Magazine had some downs in the last several quarters, but now that BroncoJohnny is back running things, we should have a big FY13 with the relaunch of the "Granny Doin Wrong" series, and the latest additions "Face Down in the Toilet" and "Stuff Her Full of Household Items".

Tell me more about this "Stuff her full of household items", please.

Will you be looking for a director over this section? I've already got quite a collection to contribute, but I absolutely love to see others' ideas and individual creativity.

[Bassics]

Negative. You can have capitalism without this fiat currency bullshit.

No, you can't, because the fiat is when the debt is traded in its place. It doesn't matter if the currency is paper, gold or unicorn piss. When the note becomes an asset it is a fiat.

[Denny]

No, you can't, because the fiat is when the debt is traded in its place. It doesn't matter if the currency is paper, gold or unicorn piss. When the note becomes an asset it is a fiat.

Right, but when it's not back by a hard asset, then it might as well be unicorn piss because it'll be printed beyond the source's means of paying it back, thus making it worth less.

[Strychnine]

It is quite evident to me that these kids are not going to be much competition to people like me, who work hard for what they have.

LMAO. Apparently Dave Ramsey yesterday told these shitheads to "take a bath then go ocuupy a job."

[CJ]

Right, but when it's not back by a hard asset, then it might as well be unicorn piss because it'll be printed beyond the source's means of paying it back, thus making it worth less.

There is nothing wrong with debt if it's backed by liquid assets. Financing drives capitalist growth, it is essential.

[Denny]

There is nothing wrong with debt if it's backed by liquid assets. Financing drives capitalist growth, it is essential.

What is the dollar backed by?

HINT: It's not oil.

[Snatch Napkin]

What is the dollar backed by?

HINT: It's not oil.

The push of a button, which activates a few volts to run down a wire to another financial institution.

[CJ]

What is the dollar backed by?

HINT: It's not oil.

liquid assets man. It isn't even debatable, financing is essential for capitalist growth. Checkout an economics textbook. For a company to grow at a respectable pace it has to borrow against it's own capital. Loans that are not backed by liquid assets are the problem you seem to be arguing.

And what exactly is with your BOA avatar? You should have Dick Durbin in that avatar.

[Denny]

liquid assets man. It isn't even debatable, financing is essential for capitalist growth. Checkout an economics textbook. For a company to grow at a respectable pace it has to borrow against it's own capital. Loans that are not backed by liquid assets are the problem you seem to be arguing.

And what exactly is with your BOA avatar? You should have Dick Durbin in that avatar.

Without buyers for the liquidity (soon to be proven by these bogus bonds), then what do you have?

Really, what is a dollar worth? What does a dollar equal?

[347Mike]

Without buyers for the liquidity (soon to be proven by these bogus bonds), then what do you have?

Really, what is a dollar worth? What does a dollar equal?

A spec of gold?

[Bassics]

Right, but when it's not back by a hard asset, then it might as well be unicorn piss because it'll be printed beyond the source's means of paying it back, thus making it worth less.

It is backed by a promise to pay it back in gold, with some extra gold. That has always been true. A note is a promise with terms.

How is that different from today? Collateral obligations are still part and parcel of lending.

[Broncojohnny]

Right, but when it's not back by a hard asset, then it might as well be unicorn piss because it'll be printed beyond the source's means of paying it back, thus making it worth less.

But a fiat currency is worth what a group consensus says it is worth. So exactly how will it become worthless? At some point even gold is only worth what someone will pay for it. It does nothing in and of itself. Gold on a desert island is worthless. So in a system where currency is based on the value of something else that relies on a group consensus for value, is that currency not still a fiat currency? How does that extra link in the chain make the currency NOT a fiat currency any more?