General Forums => The O' Club => Topic started by: CptTrips on September 04, 2020, 02:50:02 PM
Title: How the Economic Machine Works
Post by: CptTrips on September 04, 2020, 02:50:02 PM
At first I was afraid to post this in case it was misinterpreted as something political. It's not in any way, but I'm sure it will end up locked by someone going over the line responding. That is beyond my control. I think this information is important enough for every citizen to understand, that I will risk it.
I just thought was a beautifully composed, simple, clear explanation of some very complex topics. I've always been fascinated about how economic systems work a a systemic level (don't even get me started on the strange concept of money), and I read stuff for 30 years and this is one of the most elegant, accessible explanations I've ever seen.
I think every high school senior should have to watch this and be tested on it. Share it with your kids, nephews, grandkids, etc.
Title: Re: How the Economic Machine Works
Post by: DmonSlyr on September 04, 2020, 06:42:48 PM
Yeah economics and debt is so important but it's one of those things that most people dont learn or understand until they actually get in to it. Then they get in to it and moan and complain that they have to pay it back. Unfortunately, most school students haven't the faintest clue how money really works in business which is why they can be manipulated so easily into taking out student loans for college. Then corruptocrats say "vote for me, ill make it free". And this is how the economy fails because we all know nothing is for free and taking more money away from everyone else's paychecks lowers spending in the economy. Then they say well you need a credit card to "gain credit" and make yourself look good to lenders. Thats when young people get into trouble because they don't understand budgeting and get into debt they cannot pay for and get out of with their current wage.
They taught me economics in high-school. They did not teach me accounting. I became an accountant after college and realized just how important it was to understand accounting. When you talk about economics on a macro scale it normally goes in one ear and out the other because its too big for most kids to rationalize. They believe that nothing they do will actually be beneficial to learning it. If budgeting was ingrained into them like algebra was, you'd see a lot more responsibility with kids and money. The unions do it on purpose because they want our kids to be debt slaves inorder to push the "vote for us we'll make everyone else pay for it" agenda where only they win.
They dont teach accounting and budgeting in high School for a reason. All high schools care about is putting kids in college by any means necessary even if it means putting kids in debt knowing they cannot really afford it. They teach economics because its a good pseudo science that theorizes about how money flows, but they don't teach accounting because they dont want kids to know how money actually works in business or budgeting. I recon the majority of kids today dont even know the difference between Cash and Revenue.
Title: Re: How the Economic Machine Works
Post by: guncrasher on September 04, 2020, 08:05:32 PM
they don't teach you accounting in high school because those are college courses. economics in highschool is just basics.
all those years up to 12 grade are just basic courses to prepare you for college.
does everything has to be a conspiracy to you?
semp
Title: Re: How the Economic Machine Works
Post by: Arlo on September 04, 2020, 08:39:39 PM
"The unions do it on purpose because they want our kids to be debt slaves in order to push the "vote for us we'll make everyone else pay for it" agenda where only they win".
Yeah I remember when "They" made me take "Intro to Unions" in High School and "Unions 101" in College. . . . .
Need I say more?. . . . . lol
Title: Re: How the Economic Machine Works
Post by: DmonSlyr on September 04, 2020, 11:06:03 PM
they don't teach you accounting in high school because those are college courses. economics in highschool is just basics.
all those years up to 12 grade are just basic courses to prepare you for college.
does everything has to be a conspiracy to you?
semp
Calculus is a basic course? Funny, I've never used it in my life in the real world making money and creating economic value. Very few do. But I guess that's more important in life than being able to read your bank statement and creating a budget around it so you don't lose your economic value and/or get into serous debt. Doohh what am I'm thinking. Those darn tootin conspiracies, I tell you what.
Other courses they dont make you take anymore or offer. Mechanics to vehicles Robotics (I was lucky to take that one) Survival skills outdoors Home ec and cooking Business operations Welding Architecture Study of industry Study of inventions Finance Martial arts and defensive skills. Contract law
All classes that could be critically important in life circumstances.
No they don't want you to learn real life skills and get to work at a younger age thus make more money if you aren't suited for college. Just go take out a 50K loan for your college so you can learn actual conspiracy theories all day. If you can't than too bad freaking bad. That's exactly what you are saying.
Title: Re: How the Economic Machine Works
Post by: guncrasher on September 05, 2020, 01:19:18 AM
Other courses they dont make you take anymore or offer. Mechanics to vehicles Robotics (I was lucky to take that one) Survival skills outdoors Home ec and cooking Business operations Welding Architecture Study of industry Study of inventions Finance Martial arts and defensive skills. Contract law
All classes that could be critically important in life circumstances.
I'll take that head on.
what the heck is mechanic to vehicles?
robotics? really in high school? damn those MIT students really wasted their money in college, 2 years of high school would have been it
survival skills outdoors? boy and girls scouts covered that for only 7 bucks a year.
home ec and cooking, think mcdonalds and burger king got that covered too. if you dont know how to fry an egg, well...
business operations well that is a cover all class that leads to nothing
welding, at the steel mill where I used to work, 2 week course and you were certified, 1/3 of the mill were certified
architecture, yes you get a high school diploma in architecture and all the major companies will come knocking at your door
study of industry, yes 1 year of high school will lead to a rewarding career in watching people walk down the street
study of inventions, every high school should know that edison didnt invent the light bulb or the telephone
finance, again wall streets are recruiting high school students, big money there
martial arts, that ended in the 70's when jackie chan started doing his own stunts, on the other hand cobra kai still looking for sensei
contract law, yes all the law firms are giving big sign in bonuses to high school students, it's like the movie "the firm"
think you forgot some other major careers
lemonade stands, not really that's a good side hustle, i make the best ceviche and chile rellenos ask anybody at the legion, they keep telling me to sell it on the streets. and didnt have to learn that in home ec, it just came naturally to me
beer drinking, heck I was an expert before college
conspiracy theories, damn good career, how to make people believe in bs while they send me money to buy buckets of rice and beans
I keep going on for more rewarding careers, heck i believe I could make lots of money teaching people about life skills
semp
Title: Re: How the Economic Machine Works
Post by: Shuffler on September 05, 2020, 04:25:09 AM
LOL you know nothing about welding.
Many folks out of college take awhile to catch up to the folks who actually went into the work force straight out of high school.
There are some reasons to go to college.
Title: Re: How the Economic Machine Works
Post by: guncrasher on September 05, 2020, 04:48:27 AM
Many folks out of college take awhile to catch up to the folks who actually went into the work force straight out of high school.
There are some reasons to go to college.
I dont have a college degree and yet I had to teach employees I managed with accounting degrees on how to use a staple remover. never put them down, they did good. I was just good with numbers and was always willing to learn from those below me and above me.
my whole work ethics was dont mess with my paycheck or promotions and I wont mess with the work. have only worked for 4 companies doing accounting, construction and steel work. always fully funded my pension and 401k. whatever was left was to pay bills and party and I always party hard. I got a couple of bucks saved for when I need them. I hear people talk crap to me and say "you havent worked in 2 years", always reply and yet I still pay more taxes than you do.
not the same work ethics I saw in younger co workers.
semp
semp
Title: Re: How the Economic Machine Works
Post by: Eagler on September 05, 2020, 07:13:33 AM
Public ed has become a joke
HS grads have 9th grade education
Employers now ask for college kids to get the basic skills we had when we graduated from HS
They reach out for cheap college grads by going offshore
I have had more than one Indian software contractor tell me college degrees can be bought in India and some aren't worth the paper they are printed on but no one verifies anything usually.
Personally I think cyberschooling could produce smarter kids than in class.
As the current system produces "we need a village" idiots, what do we have to lose trying it for several years?
And yeah that means a parent might have to be a parent and stay home and help educate and raise their kid
Eagler
Title: Re: How the Economic Machine Works
Post by: DmonSlyr on September 05, 2020, 02:57:52 PM
Employers now ask for college kids to get the basic skills we had when we graduated from HS
They reach out for cheap college grads by going offshore
I have had more than one Indian software contractor tell me college degrees can be bought in India and some aren't worth the paper they are printed on but no one verifies anything usually.
Personally I think cyberschooling could produce smarter kids than in class.
As the current system produces "we need a village" idiots, what do we have to lose trying it for several years?
And yeah that means a parent might have to be a parent and stay home and help educate and raise their kid
Eagler
Funny how teachers are so afraid of parents watching their classes.
Nowadays starting back in the 90s and 2000s they are teaching all of these quasi methods of doing math where the parents could not help the child because they had to learn the method as well.
I think Zone economics is so important to learn. How to make the area around you and your city more economically prosperous. No one really talks about it.
Title: Re: How the Economic Machine Works
Post by: Meatwad on September 05, 2020, 03:19:34 PM
Common core math is garbage. Parents have no way to help the kids because nobody understands how it works. How it was taught in schools within the last 100 years was just fine. Now the kids cant even do simple math
Title: Re: How the Economic Machine Works
Post by: Ramesis on September 05, 2020, 03:33:11 PM
Yeah economics and debt is so important but it's one of those things that most people dont learn or understand until they actually get in to it. Then they get in to it and moan and complain that they have to pay it back. Unfortunately, most school students haven't the faintest clue how money really works in business which is why they can be manipulated so easily into taking out student loans for college. Then corruptocrats say "vote for me, ill make it free". And this is how the economy fails because we all know nothing is for free and taking more money away from everyone else's paychecks lowers spending in the economy. Then they say well you need a credit card to "gain credit" and make yourself look good to lenders. Thats when young people get into trouble because they don't understand budgeting and get into debt they cannot pay for and get out of with their current wage.
They taught me economics in high-school. They did not teach me accounting. I became an accountant after college and realized just how important it was to understand accounting. When you talk about economics on a macro scale it normally goes in one ear and out the other because its too big for most kids to rationalize. They believe that nothing they do will actually be beneficial to learning it. If budgeting was ingrained into them like algebra was, you'd see a lot more responsibility with kids and money. The unions do it on purpose because they want our kids to be debt slaves inorder to push the "vote for us we'll make everyone else pay for it" agenda where only they win.
They dont teach accounting and budgeting in high School for a reason. All high schools care about is putting kids in college by any means necessary even if it means putting kids in debt knowing they cannot really afford it. They teach economics because its a good pseudo science that theorizes about how money flows, but they don't teach accounting because they dont want kids to know how money actually works in business or budgeting. I recon the majority of kids today dont even know the difference between Cash and Revenue.
+1
Apparently the congress and presidents failed even the basics :rofl
Title: Re: How the Economic Machine Works
Post by: NatCigg on September 07, 2020, 12:07:18 PM
At first I was afraid to post this in case it was misinterpreted as something political. It's not in any way, but I'm sure it will end up locked by someone going over the line responding. That is beyond my control. I think this information is important enough for every citizen to understand, that I will risk it.
I just thought was a beautifully composed, simple, clear explanation of some very complex topics. I've always been fascinated about how economic systems work a a systemic level (don't even get me started on the strange concept of money), and I read stuff for 30 years and this is one of the most elegant, accessible explanations I've ever seen.
I think every high school senior should have to watch this and be tested on it. Share it with your kids, nephews, grandkids, etc.
A simplistic introduction to credit without covering the many variables in play though out the story. Taken as reality a individual could be swayed as ignorant. The video could be used as fake fact check propaganda considering how it ignores the complexity of the topic.
What is the lesson gained from the class?
I see the importance of production. "real income". The video could have focused on how Production is the base of the economy. but, the lesson was credit, so on we go.
Herein lies the problem of online education. In a real class, the instruction would not be biased to a end. The lesson on credit would be part of the large lesson of microeconomics. The importance of production relative to credit would be a larger focus. And the student would have developed a better understanding of risk.
This video focused to a modern narrative, and lacks a larger understanding of the causes and effects within a economy.
Still, a better pastime than other programing, but not a substitute for a formal education.
Title: Re: How the Economic Machine Works
Post by: Eagler on September 08, 2020, 07:56:35 AM
Credit = economies these days
Without it 95% are broke lol
It is why 6 year CD pays less than 1% now
It is why countries are going negative interest rates - they cannot afford to pay the interest on their printed debt.
It is why we are in the sheet storm we are in now around the globe.
<S>
Eagler
Title: Re: How the Economic Machine Works
Post by: morfiend on September 08, 2020, 08:12:40 AM
It is why countries are going negative interest rates - they cannot afford to pay the interest on their printed debt.
It is why we are in the sheet storm we are in now around the globe.
<S>
Eagler
Credit is not the problem debt is! Credit allows you to buy a house that you wouldnt otherwise be able to but then you go into debt. Most take 20 or 30 years to pay that house off and during that time they incur even more debt because they want that new car and new tv and new whatever so they end up in a endless cycle of debt.
Personally I have no debt,and it's amazing how little you can live on when you dont have to pay CC debt,a mortgage and a car payment. You can actually put some money into savings,investments or if you like under the mattress.
The massive amounts of money that is printed is done because of debt,not credit. Credit can be a good thing if you use it wisely,I have used some credit to make investments,thats was some time ago and the debt was paid off but I'd never remortgage my house at a lower rate just to get a new car/boat or insert your favorite item,thats how you stay in debt for life!
:salute
Title: Re: How the Economic Machine Works
Post by: Eagler on September 08, 2020, 12:46:08 PM
Exactly!
Now how many ppl can handle credit properly and not allow it you create debt for them?
From what I see and read most cannot handle credit properly as they can't live without the latest whatever and have to have it NOW and dont have $1000 for an emergency.
Life debt free is wonderful!
But we drive 7 and 12 year old cars - neither over 50k in mileage
Its all about choices.
But if gov doesn' t make the right ones, can it expect joe 6 pack to be able to?
Going negative with interest rates is your sign the world is truly broke.