Common Sense Economics: How Much Ignorance Will Cost You - Tom Wheelwright & Howard Yaruss

[@ohdannyboy613]

Cooking my Trader Joe's Turkey Organic on Thanksgiving morning watching the Macys Parade on TV and reading your TAX FREE WEALTH book for the first time. Your book is worth its weight in Gold. The book on BOOOORING accounting kept me alert and awake on one concept: MONEY WORKS FOR YOU; not YOU WORK FOR MONEY! A Million thank you for your great wisdom! GRATITUDE is a great trait when sharing a wealth of knowledge with many other by writing a book!

[@wbaiey0]

Dear sir, thank you for all you vedios, they are so inspiring and informational. 🎉

[@dtsai]

To understand economics, just use a simple example. For example, pretend there are only 2 people on the planet and they go extinct if the other guy dies because division of labor is the only way to survive against disaster. Get 2 piles of 10 singles and move the money back and forth to represent their wallet. Initially, both people have $10 in the pocket for total money printed of $20. Person A sells food and Person B sell water. Initially, both people sell to each other at the same price of $1 Eventually, Person A realizes it's a lot more work to sell food and raises the price to $2, Person B continues to sell water to Person A for $1. What happens to the cashflow in their pockets compared from initially to after the price increase? The person selling for more money will eventually take all the money from the person selling for less. How do you solve this problem? You either tax the money from the rich guy and give some of it to the poor guy or you print money and give it to he poor guy. What does limited money printing work? Because no matter how much you print, it still adds up to 100%. What you realize is that money is actually just the bookkeeping, but it costs money to actually produce money, especially if you are using something like gold. You actually want something worthless like pen and paper or electrons to track money, not something valuable because if money is valuable, it becomes the product, not the bookkeeping records.

[@lyp7777]

A big NO to CBDC.

[@dtsai]

Remember, it's not just money it's supply and demand that increases or decreases inflation. If you print money and and built factories for key products that are impacted by inflation, you could reduce inflation. But if you just print money are left it to chance who would do what, then you probably took advice from a Atlantic City Casino owner.

[@dtsai]

The gov't and country is controlled by legacy corporations. So if you say you don't trust gov't, you are saying you don't trust oil companies.