Lords of Death Forums Lords of Death Forums LoD General Discussion What is wrong with our economic system

if you withdraw your 401k for a non medical, non emergency reason, do you get heavily taxed for it?

*NT*

yes, full tax and a 10% penalty

yea. unless im over 59. what a bummer. but i heard that if you use it for say, to pay for school, or an emergency (like being hit by a semi) that you dont get the 10%. true false?

its called Direct Mail Stretch. Its marketing. Do you request someone to market to your demographic? No? Then stfu.

Maybe not enough of it is actually the reason why it was used as monetary base for over 5000 years of human history?
Opposite of that is 'make as much as you want', which maybe is the reason our economy is so fucked up today?

"Opposite of that is 'make as much as you want', which maybe is the reason our economy is so fucked up today?"
Our money supply has to expand in the long run to support the growing population, & demand for U.S. goods/products.. Also, in the short run the Fed pumps money into the economy to stimulate it in times of growing recessions...
It's harder using gold as the standard since it has intrisnic value, and there would be price fluctions from the demand of gold as well as the demand for U.S. currency.
Depreciating dollar is not a bad thing though since we began export more to countries than we import.
Don't see any other developed economies using gold as currency do ya??:)

"This is flawed logic because while this does help our exporters but our export economy has diminished so much we have few companies to take advantage of this."
? The U.S. is one of the leading exporters in the world.... depreciating $ narrows the trade gap, increasing GDP. Not sure how this is flawed logic? If foreign goods (imports) are more expensive, people arn't going to buy them as much as domestic goods.... sounds like common sense to me.
"But the bigger elephant in the room is oil prices are sky high and easily eat up any potential economic gains. If the oil was at its pre-9/11 levels you might have a good point here. Oil costs 4x that much in 6 years (price-adjusted)."
... Oil prices are high regardless of what our dollar is worth. Every country feels the sting, including Euro area and China. The only ones benefiting are the exporters of oil and oil companies (or the alien comandeered republicans). mmmm not sure what this has to do with the value of the $? If oil prices rise it will cost more money.... it's the same with every inelastic (price insensitive) good we import (steel, mexicans, exc.)

Trade defecit is down 12% from one year ago, that's a pretty good fluctuation in my opinion, especially if it continues. (64 billion to current level 56.5). Domestic producers are helped the most while consumers are at a disadvantage since it costs them more to buy their fiji water and what have you. This also helps fill jobs at home since demand for domestic goods increases. Unemployment is steady right now at 4.6%, not bad considering how our construction industry is doing. Nonfarm payrolls increased by 166,000 in Oct.
The sting is there for every country that imports oil; obviously not as bad as it is to a country whose currency is depreciating relative to another, but it's there. China Energy Costs There are tons of articles on the rising costs of energy for China, this is just the first I saw.
"A study was just released last week talking about the US military being the #1 consumer of oil in the world."
Didn't see where it said #1 consumer of oil in the world, it did say #38 consumer of oil if it was a country. I seriously doubt most of our exports are military related. Unfortunetely oil is the driving force of all/most developed countries; regardless of military power. Personally, I think OPEC just likes putting it in everyones butt.

No crap. Credibility - 0.1. FAIL.
-Bal.