Author: Yogesh

Billionaire Tells Americans to Prepare For 'Financial Ruin'   [Copy link] 中文

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Post time 2013-7-14 14:03:26 |Display all floors
One thing about Trump is he became wealthy then got in to a financial mess partially through divorce and he was able to regenerate wealth.  So he has some experience with bad money management.  It is always relevent to listen to words of doom, while taking actions to secure the future.  Had the financial community done that in the decade leading up to the financial crisis of 2008 it could have been prevented or drastically reduced.
Attitude : Life is 10 percent what happens to you,  and 90 percent how you react to it.

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Post time 2013-7-15 02:11:20 |Display all floors
This post was edited by Yogesh at 2013-7-14 23:30
robert237 Post time: 2013-7-12 20:55
Obviously you are too dimwitted to understand.
No billionaire has ever come close to 'earning' tho ...

Dimwitted? Yep. I am. I do not think that I can reach conclusion immediately on any subject. I need to think a lot. I get lots of doubts. I honestly believe that I am not very smart or very knowledgeable. But I believe that knowing that you don't know is a good beginning to know. Isn't it?

OK. Coming back to our discussion. Facebook was launched by Mr. Zuckerberg and DOS/windows OS by Mr. Gates. They are basically smart people. Do you want to say that it is not only their work because they hired others? Is it a fault to hire others and develop a system? If yes, what should be the way out? See. No one would like to go extra mile if they don't see any benefits for themselves in it.
Or are you repeating some marxist theory whereby all generated incomes should be distributed among the workers as per the amount of work done? Is it so?

I am interested in taking all communists head-on (including all in China also) to understand the actual logic behind Marxism. And yeah. Please be logical. It doesn't matter whether you are lightning-witted or dim-witted. Dim-wits are fine for me but I can't hit my head on dumb walls. So do not try to defend something which does not fit logically in our discussion or you don't know. Let us see what is actual truth. I am genuinely interested.

Was killing of humans effective in China? Do you mean KMT was playing in the hands of foreign powers and so its extermination helped China to be independent? What about Taiwan? It is not a slave of some western power. So how did it remain so if some western wolves were interested in usurping the whole China?

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Post time 2013-7-15 02:27:09 |Display all floors
verdane Post time: 2013-7-12 18:59
I'm certainly not an economist or an expert! But historically when a given nation has gone on an e ...

You missed the point. There is only one family whose currency is accepted by all others in the village. So they can print more if they want to buy more. Even if some other currency is retaining its value, how does it help? I mean is there a guarantee that the producer of that currency won't print it more? So nobody in the village will go for some non-credit-worthy family. China is strong. Its currency is holding its value. But despite that, yuan is not going to replace dollar because credibility of China for transparency etc is not very high in the village.

Moreover, actual worth of dollar can be judged only when everyone goes out with their dollars to buy things. But it doesn't happen. Many countries, and China with the maximum, are sitting on a pile of dollars as reserve and they are not using it. Even if Dollar depreciates, everyone loses. Not only US. It is not going to happen that no one will want dollars. If they do not want, they can not participate in global trade.

Does it make sense what I understand? Or am I wrong somewhere?

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Post time 2013-7-19 23:20:10 |Display all floors
Detroit city, once the pride of USA, has applied for bankruptcy! Is it the sign of a coming storm?

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