Article

2021-12-14 Economy

'Toss away your money': Bloomberg is mercilessly mocked after advising Americans to 'spend their pay check immediately' and 'borrow lots of money' as a way to cope with inflation

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Posted by Skidmark 2021-12-14 00:00|| || Front Page|| [10 views ] Top

#1 His logic is perfect, and it is what the government is constantly doing.

Posted by Glenmore 2021-12-14 01:24|| 2021-12-14 01:24|| Front Page Top

#2 Tossing away yer money is a process, see. Like farming. It’s a process. You dig a hole, you put a seed in, you put dirt on top, add water, up comes the corn.

Posted by Merrick Ferret 2021-12-14 01:32|| 2021-12-14 01:32|| Front Page Top

#3 Normal Americans don't get to borrow money at near zero interest rates.

Posted by Hupinetle Ebbeamp5826 2021-12-14 02:57|| 2021-12-14 02:57|| Front Page Top

#4 This Jewish billionaire is right, from his point of view. Inflation penalizes savers and rewards borrowers. The thing to do is borrow as much money as you can and invest it to make more money. The idea that the rest of us don't qualify for loans and can barely keep our heads afloat is foreign to him. He's speaking from his own perspective inside the censored bubble. If we could all go to the bank and get a small loan of a few million we could all make out like bandits. But the idea that we can't get near-zero interest loans like he can is unknown to him.

Posted by Clulet Splat5443 2021-12-14 04:53|| 2021-12-14 04:53|| Front Page Top

#5 Would his logic be different if he were not Jewish, my dear Clulet Splat5443? Please explain how, as I am more ignorant than I would like to be on the subject.

Posted by trailing wife 2021-12-14 07:00|| 2021-12-14 07:00|| Front Page Top

#6
Give this some thought.

The minimum wage went from about $5.25 to $7.25p/hr or about a 38.09% increase.

Social Social Retirees are only seeing about a 5.9% COLA adjustment or 32.19% less than minimum wage earners.

Given too many Retirees were already penny pinching for food, utils and med's before the Min Wage increases.

We are really screwed now looking at a 31+% inflation rate.

Now imagine if the Socialist-Democrats run on their $15 p/hr (a 185.71% increase) in 2024 and get in office?

Where we would be?

Posted by NN2N1 2021-12-14 07:24|| 2021-12-14 07:24|| Front Page Top

#7 Inflation penalizes savers and rewards borrowers. The thing to do is borrow as much money as you can and invest it to make more money.

Classic Wharton School of Economics philosophy that 'Great Minds' have used since the sixties to scuttle the US and world economy.

Posted by Mullah Richard 2021-12-14 07:59|| 2021-12-14 07:59|| Front Page Top

#8 Yeah, Bloomie, that's why your and yours are running up the stock market. The you'll cash out (crash) when the government has to suck up tons of that money to pay the debt on its IOUs and those bond yields climb.

Posted by Procopius2k 2021-12-14 08:14|| 2021-12-14 08:14|| Front Page Top

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