Debate @Fuck Bankers on banking, the Great Depression, and Jews I guess.

[Fuck Bankers]

No. That is a literal fucking lie. They are on a 99 year lease. Fucking kill yourself

That's a lie

 

[WelperHelper99]

That's a lie

I'm not clicking your link. It's a sign of low intelligence if you can't explain yourself.

 

[Fuck Bankers]

Having a lower fraction is literally the opposite of what I wrote, retard

You understood my meaning. My meaning is there was less fractional reserve lending happening after the great depression. There was a higher "fraction" held in reserves after the great depression.

I'm not clicking your link. It's a sign of low intelligence if you can't explain yourself.

it's a source to Forbes where they tell you the data that 90% of Chinese people own their homes out right. You can click it or not, it's the truth.

 

[FieldPiece]

To prevent hyperinflation.

To put it in perspective, for the Nintendo Switch there was a game called Animal Crossing, which let you earn "bells" that you can use to buy goods and decorations. That game had an online function where you could join other people's games and trade bells for goods.

It also had multiple infinite money glitches, such as a stock market system where you could buy a stock item in large quantities on your island and travel to an island where the stock items can be sold for the maximum price. That led to everything being inflated to massive prices. Cardboard furniture which is normally like 20 bells in the game was in such demand that it can be sold for like 20,000,000. Bells became so worthless that people resorted to trading using a random draw ticket you get for completing achievements and is much harder to get. At the height of its frenzy it had a slave auction where characters that can't be obtained by amiibo cards (NFC tokens that unlock dlc, fakes can be made easily)

So everyone that had an infinite money cheat ended up trading massive amounts of money, while people who tried to play the game legitimately got left behind because they were priced out of the online market.

That's sort of what's happening now. Banks that get freshly printed money and companies that buy all real estate have an extreme level of control while everyone else gets left behind

Sounds like all the more reason the government shouldnt be able to print money and all government employees should be slaves devoid of rights.

 

[draggs]

That's a lie

Maybe you should try reading what you linked for once. Chinese households spend a significantly larger proportion of their income on housing than American households. This is why Chinese have a lower material quality of life, they have very little left over to spend on consumer goods. Plus the construction standards of Chinese housing are garbage. They spend much more of their income on inferior housing, China numba wan

 

[Fuck Bankers]

Maybe you should try reading what you linked for once. Chinese households spend a significantly larger proportion of their income on housing than American households

In fact, 90% of families in the country own their home, giving China one of the highest home ownership rates in the world. What’s more is that 80% of these homes are owned outright,

"owned outright" means they pay nothing for the place because they own it out right.

 

[WelperHelper99]

it's a source to Forbes where they tell you the data that 90% of Chinese people own their homes out right. You can click it or not, it's the truth.

And Forbes is fucking wrong. Again go rope you fucking communist stooge

 

[Fuck Bankers]

And Forbes is fucking wrong. Again go rope you fucking communist stooge

Not an argument.

 

[The best and greatest]

Advanced industrial economies are required to hold territory. If you don't have the ability to create modern weapons, you'll lose a modern war. The investment in that economy is therefore vital for the survival of a government. During periods of societal instability, institutions will become unstable. That is true of public and private institutions. What I'm talking about is concentration of power in a few private banks. investment institutions would be monitored more closely if done by the government. Especially in America where people are skeptical of the government. We also already have a pretty much public bank the Federal Reserve.
People own homes out right in China. This used to be the norm in America 100 years ago. It can be again.

People in China own homes that are not and never will be built that they're still making payments on, owed to something called the Evergrande Crisis.
The how's and why's of the crisis are complex but it boils down to GDP quotas set by the national government for regional governments and the easiest way to 'raise GDP' for many of these provinces was to invest in real estate construction which is how China ended up with a bunch of Ghost cities nobody lives in and overleveraged property development firms that went belly up with the banks left holding the bill. This catastrophic mismanagement is the result of China's governmental policies which ties back in with what I mentioned earlier about Chinese people being unable to withdraw their money from the bank.

China is probably the worst example you could have chosen.

 

[WelperHelper99]

Not an argument.

Correct. It's a statement. You understand English. I'm so proud .

 

[Fuck Bankers]

People in China own homes that are not and never will be built that they're still making payments on, owed to something called the Evergrande Crisis.
The how's and why's of the crisis are complex but it boils down to GDP quotas set by the national government for regional governments and the easiest way to 'raise GDP' for many of these provinces was to invest in real estate construction which is how China ended up with a bunch of Ghost cities nobody lives in and overleveraged property development firms that went belly up with the banks left holding the bill. This catastrophic mismanagement is the result of China's governmental policies which ties back in with what I mentioned earlier about Chinese people being unable to withdraw their money from the bank.

China is probably the worst example you could have chosen.

China's government is not one I want to live under. You can't deny China has grown as a super power. A lot of that is due to public investment. As well as smart trade policies, enacted by that same government.

 

[draggs]

"owned outright" means they pay nothing for the place because they own it out right.

Yes, they own outright inferior housing because the government artificially distorts the market to put cost to the buyer mostly up-front, depress it as much as possible, and encourage family to privately lend money to buyers for the bulk of the cost, money that is endlessly recycled in real estate purchases that never increase real wealth, which is one reason why the real estate market in China has gone in the shitter and will never recover without a major crash to reset property value

 

[FILTH Tourist]

That's a lie

Owning the house isn't the same as owning the land it sits on. The land is still owned by the CCP and is what is leased out.

 

[Fuck Bankers]

Yes, they own outright inferior housing because the government artificially distorts the market to put cost to the buyer mostly up-front, depress it as much as possible, and encourage family to lend money to buyers for the bulk of the cost, money that is endlessly recycled in real estate purchases that never increase real wealth, which is one reason why the real estate market in China has gone in the shitter and will never recover without a major crash to reset property value

Why should real estate increase in value? Maybe that's why young people can't buy homes because boomers insist their 2 bedroom condo should be worth $6 million? I doubt we'll ever see a major crash in China and they'll continue to be the world manufacturing power because we have useful-idiots like you defending bankers.
If this is an inferior city, I'd love to see how great New York City is, I'm sure it isn't a hellhole.

Owning the house isn't the same as owning the land it sits on. The land is still owned by the CCP and is what is leased out.

All land is owned by the government. If the government can kill me for not paying property taxes, then it owns it. I do believe in inheritance and families owning land for generations. That is a fundamentally different issue to public vs private banking.

 

[Meth Until Death]

Are you really so retarded as to not understand that the money supply and interest rates are inextricably linked?

Do you also not understand that the money supply decreased from 1929 to 1933 because the Depression started in 1929?

for fuck's sake you doing this
View attachment 6964189
with your link sperging is getting stale

You look like a simple cunt. @Fuck Bankers is clearly and autistically stating his position while you are are bitching like a high school girl

 

[draggs]

Why should real estate increase in value? Maybe that's why young people can't buy homes because boomers insist their 2 bedroom condo should be worth $6 million? I doubt we'll ever see a major crash in China and they'll continue to be the world manufacturing power because we have useful-idiots like you defending bankers.
If this is an inferior city, I'd love to see how great New York City is, I'm sure it isn't a hellhole.

Beijing, of course, has no slums.

You look like a simple cunt. @Fuck Bankers is clearly and autistically stating his position while you are are bitching like a high school girl

You look like a retard who can't understand basic economics and things like 1929 happened before 1933, like he can't

 

[Fuck Bankers]

Do you also not understand that the money supply decreased from 1929 to 1933 because the Depression started in 1929?

How did the depression make the fed destroy money? this is M1, the stuff that the Fed makes. This isn't accounting for M2 or other fractional currency. The M1 monetary supply was contracted. The Feds are a private monopoly, they can do whatever they want.

WE won't see it but the Chinese people themselves certainly will.
View attachment 6964483

They aren't the only one's to imprison political opponents

 

[John Badman]

Why should real estate increase in value? Maybe that's why young people can't buy homes because boomers insist their 2 bedroom condo should be worth $6 million? I doubt we'll ever see a major crash in China and they'll continue to be the world manufacturing power because we have useful-idiots like you defending bankers.
If this is an inferior city, I'd love to see how great New York City is, I'm sure it isn't a hellhole.

Real estate value increases due to tenants occupying property thus driving up rent floors. If they all look the same there is not much architectural difference compared to competing renters in a market. The biggest problem with the Chinese housing market is its communal centralization of property within a providence. If you cannot collect from enough tenants the best you could do is complain to the government that they need to build a factory and hope that new citizens come. The crux of this situation is that China is in a race against birthing rates and requires the dispersal of population with enough capital to finance ventures.

 

[Meth Until Death]

You look like a retard who can't understand basic economics and things like 1929 happened before 1933, like he can't

Fuck up softcock. You talk like a woman

 

[draggs]

How did the depression make the fed destroy money? this is M1, the stuff that the Fed makes. This isn't accounting for M2 or other fractional currency. The M1 monetary supply was contracted. The Feds are a private monopoly, they can do whatever they want.

Ummm

https://fred.stlouisfed.org/series/M1SL

Before May 2020, M1 consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the vaults of depository institutions; (2) demand deposits at commercial banks (excluding those amounts held by depository institutions, the U.S. government, and foreign banks and official institutions) less cash items in the process of collection and Federal Reserve float; and (3) other checkable deposits (OCDs), consisting of negotiable order of withdrawal, or NOW, and automatic transfer service, or ATS, accounts at depository institutions, share draft accounts at credit unions, and demand deposits at thrift institutions.

The M1 supply contracted from 1929 to 1933 because of decreasing deposits and bank runs crashing banks. Your characterization of what the M1 supply is is simply incorrect lol

@Meth Until Death take your Midol babby