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Thread: Predictions for a Biden presidency - MEGA THREAD

  1. #81
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    Quote Originally Posted by ExtraSlow View Post
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    How's that work out in Aspen?
    Fuck I should have clarified I meant Aspen Colorado.
    Quote Originally Posted by killramos View Post
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    If there is one thing I know for sure. ES has no Aspen goals

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    Quote Originally Posted by Buster View Post
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    Yeah... But why would it be a good thing?
    Ontario would have a fuel shortage and I'm a spiteful mother fucker
    Quote Originally Posted by Gestalt View Post
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    Im the one with a learning disability....

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    Ohhhhhh Caaaaaa na duhhhhhhh
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.

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    Day 1. Cancel Keystone XL Pipeline. I'm sure glad Biden will plunge Alberta further into darkness.

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    Quote Originally Posted by dirtsniffer View Post
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    Ontario would have a fuel shortage and I'm a spiteful mother fucker
    oh, yeah then, lets do it.

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    Quote Originally Posted by ZenOps View Post
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    There is talk of doing a clean wipe of US student debt. Which I think is a terrible idea.

    If you accumulated $200,000 from a US institution on idea that you would be able to get a job that made an extra $50,000 to $100,000 almost immediately: Its totally unfair to the guy who only spent $15,000 on his education (limited funds, resources to start with) Why should otherwise rich, white, overestimated in ability students get the core of free money?

    To me, clean sweep of student debt is basically just another bankruptcy option that primarily helps white rich people. Black student who owes $100 and is two days late, gets the shaft even moreso.

    Halvsies on debt owed? Thats doable, but still a bad idea imo.

    "If you owe the bank $100 that's your problem. If you owe the bank $100 million, that's the bank's problem." - J. Paul Getty
    It is, and it also wont happen..

    It will only be a temp fix for the economy, and it will come back to bite them in the ass in the future..

    There was a video explaining it i watched, gunna try to find it...

    weee Found it, I really respect this guys views and how he explains shit, realllly makes it simple to understand

    Originally posted by beemerm3
    so if we only seen 5 % of the oceans why not drain them or somethin lol or can u even transfer water from one ocean to another??? think of all the stuff u'd find treasures n eerything.

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    Quote Originally Posted by Kobe View Post
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    It is, and it also wont happen..

    It will only be a temp fix for the economy, and it will come back to bite them in the ass in the future..

    There was a video explaining it i watched, gunna try to find it...

    weee Found it, I really respect this guys views and how he explains shit, realllly makes it simple to understand

    I haven't watched the whole thing yet, but I'm not sure I agree with the comparison to historical wages. You can't really compare someone's purchasing power today with someone's purchasing power in 1974 because what you buy today is so much more advanced. How do you compare the purchasing power of someone in 1974 in terms of smartphones? You can't, obviously.

    By any metric, people today are vastly more wealthy.

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    Quote Originally Posted by Buster View Post
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    I haven't watched the whole thing yet, but I'm not sure I agree with the comparison to historical wages. You can't really compare someone's purchasing power today with someone's purchasing power in 1974 because what you buy today is so much more advanced. How do you compare the purchasing power of someone in 1974 in terms of smartphones? You can't, obviously.

    By any metric, people today are vastly more wealthy.
    I don't think you are supposed to qualify purchasing power with how advanced the products may be, but you should be comparing constants like cost of food, housing, fuel, transportation, etc... not how flashy the phones have become.

    You can quantify how much of a person's wage as a percentage goes towards the basic necessities in both eras, and once you have that, you can determine how much more or less purchasing power is to be had by determining what is leftover on average. At least that is how I would do it in my mind, but I am no economist.

    Doing a quick google search for average personal income in 1974 versus 2020 is ~$20k versus ~55k respectively. In that same vein, a new mustang was ~$4k then versus ~50k now. I would argue that a persons purchasing power was greater then versus now.
    Last edited by spikerS; 01-18-2021 at 03:45 AM.
    Boosted life tip #329
    Girlfriends cost money
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    Both make whining noises
    Make the smart choice.

    Originally posted by Mibz
    Always a fucking awful experience seeing spikers. Extra awful when he laps me.

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    Quote Originally Posted by spikerS View Post
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    I don't think you are supposed to qualify purchasing power with how advanced the products may be, but you should be comparing constants like cost of food, housing, fuel, transportation, etc... not how flashy the phones have become.

    You can quantify how much of a person's wage as a percentage goes towards the basic necessities in both eras, and once you have that, you can determine how much more or less purchasing power is to be had by determining what is leftover on average. At least that is how I would do it in my mind, but I am no economist.

    Doing a quick google search for average personal income in 1974 versus 2020 is ~$20k versus ~55k respectively. In that same vein, a new mustang was ~$4k then versus ~50k now. I would argue that a persons purchasing power was greater then versus now.
    You are cherry picking things that only existed in 1974, however. I don't think this is a valid comparison.

    How would you compare 1974 to a time before gasoline as a fuel was available, for instance?

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    Quote Originally Posted by Buster View Post
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    You are cherry picking things that only existed in 1974, however. I don't think this is a valid comparison.

    How would you compare 1974 to a time before gasoline as a fuel was available, for instance?
    I think you have to look past the material thing as an "item" but instead as a means. Yes, I picked a car as an example, but, it need not be a car. It could be a horse and carriage, or a horse...these are things for transportation. Same for shelter and food.

    Again, a quick google search has found that the ~$20,000 in 1974 for an average income, when adjusted for inflation to 2021, would be about $106k. Canada's average wage is currently ~$55k. I don't see how you can think that we are more wealthy today and have more purchasing power versus 1974? Sure, the things we have today are flashier, no question there, but I am not so sure we are better off financially now versus then.
    Boosted life tip #329
    Girlfriends cost money
    Turbos cost money
    Both make whining noises
    Make the smart choice.

    Originally posted by Mibz
    Always a fucking awful experience seeing spikers. Extra awful when he laps me.

  11. #91
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    My point is that you can't simply make an inflation conversion (such as those calculations are worth anything anyway). There are too many things that cannot be quantified that would certainly fall under the notion of increased purchasing power. Access to information, improvements in medical technology, vehicular safety, reduced smog, access to all of the art that was created since 1974, etc etc. I could think of a hundred different things.

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    Quote Originally Posted by Buster View Post
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    My point is that you can't simply make an inflation conversion (such as those calculations are worth anything anyway). There are too many things that cannot be quantified that would certainly fall under the notion of increased purchasing power. Access to information, improvements in medical technology, vehicular safety, reduced smog, access to all of the art that was created since 1974, etc etc. I could think of a hundred different things.
    I think you are confusing "quality of life" with "purchasing power"
    Boosted life tip #329
    Girlfriends cost money
    Turbos cost money
    Both make whining noises
    Make the smart choice.

    Originally posted by Mibz
    Always a fucking awful experience seeing spikers. Extra awful when he laps me.

  13. #93
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    How much will a combustion engine vehicle be worth in about 30 years? How much did a horse a buggy sell for in 1970? (trick question, noone bought one) A lot of wealth is tied up in assumed value at todays valuations. Today, a high end combustion engine car can be valued in the millions. I can imagine back in the day, a horse and buggy royal carriage (like what our Queen EII) used was worth approximately the same.

    Valuations of wealth are based on generational demand as much as anything else. Todays generation pays $16 for a slice of avocado toast.
    Opportunity Cost : Columbus spent $0 on burned carbon fuels to find America.

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    Quote Originally Posted by Buster View Post
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    You are cherry picking things that only existed in 1974, however. I don't think this is a valid comparison.

    How would you compare 1974 to a time before gasoline as a fuel was available, for instance?
    It doesn't matter. It's living expenses. Sure maybe you didn't have gasoline back then, but you needed feed for your horse and maintenance on your buggy. You're trying to split hairs in a weird way, any economist is going to base purchasing power on living expenses, housing, etc.

    And people are definitely not more wealthy nowadays. They may have more useless shit, but when the biggest expense in your entire lifetime(a home) has gone up by 500% in 20-30 years, but wages have only gone up 50%, it takes some pretty abstract math to try and quantify people being more wealthy today. I'd agree they might have better quality of life, but not more purchasing power.


    EDIT- SpikerS already caught it. You're mixing up wealth/purchasing power with quality of life.

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    Quote Originally Posted by spikerS View Post
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    I think you are confusing "quality of life" with "purchasing power"
    Let's imagine that we had a convenient method to measure a units of information to which you had access. We don't have such a unit, but for the purposes of this thought experiment, we do. In 1974, to go find that unit of information, you had to go to the library, you had to find an expert, you had to do a manual search of the scientific literature, etc etc. Nowadays, you have that in your pocket.

    So, has access to information seen inflation or deflation since 1974?

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    Using a horse was arguably much cheaper than a combustion vehicle. All you needed was hay to feed one horsepower. Was it high maintenance? Well, you did have to put water out for it, but if you had a field somewhere for it to graze on free grass that grew, it was win-win. With todays techology and speeds of a horse carriage, you could probably make a horse carriage that would last for 200 years with a spoonful of grease.

    Combustion engine will go down in history as being the most inefficient use of power ever. Burning into movement at 21% rotational efficiency. And people complain about solar panels that convert sun to 21% electricity (the most useful form of energy by far)

    Last edited by ZenOps; 01-18-2021 at 12:58 PM.
    Opportunity Cost : Columbus spent $0 on burned carbon fuels to find America.

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    Quote Originally Posted by Buster View Post
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    My point is that you can't simply make an inflation conversion (such as those calculations are worth anything anyway). There are too many things that cannot be quantified that would certainly fall under the notion of increased purchasing power. Access to information, improvements in medical technology, vehicular safety, reduced smog, access to all of the art that was created since 1974, etc etc. I could think of a hundred different things.
    Just to add to Buster's line of thought, there's a lot more ways to make money than grinding a 9-5. Fortune favours those who embrace what technology can offer and can leverage it in a way to increase revenue stream.

    Misterman points out that people have a lot of useless shit, yet they underestimate the value of the dollar when buying said useless shit. We're at record levels of consumer debt, with car debt in the trillions.

    People have purchasing power, they just don't use it wisely. I'm cherry picking, but it is always interesting to see someone drive a shitbox while wearing a Canada Goose jacket and the newest iPhone.

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    cheap access to credit could be a big part of it. From what I recall, the cost of post secondary has skyrocketed since student loans became commonplace and backed by the gov.
    Quote Originally Posted by Gestalt View Post
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    Im the one with a learning disability....

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    Quote Originally Posted by rx7boi View Post
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    Just to add to Buster's line of thought, there's a lot more ways to make money than grinding a 9-5. Fortune favours those who embrace what technology can offer and can leverage it in a way to increase revenue stream.

    Misterman points out that people have a lot of useless shit, yet they underestimate the value of the dollar when buying said useless shit. We're at record levels of consumer debt, with car debt in the trillions.

    People have purchasing power, they just don't use it wisely. I'm cherry picking, but it is always interesting to see someone drive a shitbox while wearing a Canada Goose jacket and the newest iPhone.
    This is called personal, or revolving debt (not just mortgage) in depreciating assets - and this has risen dramatically as young people now keep up with the Joneses on twitter.

    In 1995, it would have been considered INSANE to keep a 1000$ device in your pocket for daily use - mobile phones had their place though.

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    Anyone have a theory on why TC energy stock didn’t drop and is actually up a bit today?

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