Biden gets the blame for inflation, and to be sure his monetary policies are directly responsible for a lot of the current economic pain. But we didn't get here in a vaccume, the low interest rates have been here for a decade, Washington has been printing money like water for decades.
W Bush spend money like a drunken sailor. Medicare part B, seriously? Free medication for the group that hold the most wealth in the history of the world so they could keep their money in the bank and stimulate Eastern European economies by giving billions to scammers.
Keynesian economics to the destruction...
2008 TARP let's print half a trillion+ dollars and bail out wall street. Half the funds were authorized by Congress as Bush was leaving office at Present-elect Obama's request. It should have been returned to the treasury, never spent.
And why was wall street in this predicament? We can go back to Jimmy Carter's CRA, which Clinton doubled down on. Let's force banks to give trillions in loans to people that will likely default. No problem we will invent high return insurance, re-insurance, and re-re-insurance. Heroin for wall street. It all came crashing down in a cacophony.
2008 should have been the sobering up moment. Instead the Government came in with the narcan which encouraged the would be heroin addicts. Much like Uber reduced DIU's but binge drinking went up. The controlling, immediate consequence, which also passively controlled other behavior, was removed.
GM still declared bankruptcy, Bank of America is still saddled with the albatross Merrill Lynch, how many 401ks are suffering from that forced buy?
Factor in inflation and TARP cost the American tax payers and contributed to where we are today.
More Keynesian economics, Obama added anywhere from trillions to doubling the deficit, spending (printing) money we don't have.
Contrary to popular belief the deficit has not been 0 in the last 100 years. Budgets that don't add to the deficit don't mean the balance has actually come down. Bush 43 came into office with 5+ trillion 55% of GDP.
Obama drove us over the fiscal cliff leaving office with 19+ trillion, 105% of GDP. His policies, much like FDR and the depression, actually slowed the recession recovery and prolonged it.
Trump took us to 28 trillion, 129% of GDP.
There is always an excuse, a cost-benefit discussion. Where we have been for more than a decade is that debate is really about doing something that will absolutely cause harm and rationalized as "less bad'.
It's not all Biden's fault, or Trump's, or Obama's, or Bush 43, or 9/11 & Afghanistan, or the great recession, or COVID.
The space program from 1960-73 spent over $1 trillion (adjusted). In the 60's we were enjoying 4%-6% per year real GDP growth. Since 2001 the highest is 3.9% in 2004, a total of -6% in that period.
From 2008 to 2022 we had a 20% increase in GDP, and a 100% increase in the deficit. Where is the cost benefit?
Europe is languishing under the green agenda, the U.S. is, but the possibility of tens of thousands dying in the winter of 2022/23 is very real.
I suspect an actual depression is on the way. For too long economic policies were about preventing pain rather than allowing some pain in normal economic cycle. Like a system that builds up potential energy it ultimately has to be released. All the world's economies are about to explode.
There is an ecconomic uncertainty theory that basically says it is not possible to modulate tbe economy in a way prevent downturns that cause some pain to some people. The government should not try. Sound economic policy is keeping the sine wave average, not smoothing it out so no one gets hurt.
Keynesian economics has objectively, repeatedly failed. It is responsible for most of the bad (evidenced by negative consequences) economic policies for the last 90 years.
I think we are headed for an honest to God depression, forget about the 2008 recession. Sustained inflation at 8+% and interest rates climbing higher mean hunkering down. So you have a job, you limit your spending.
Target sales nonexistent, no merchandise, Walmart canceling billions in orders.
Oh, the economy is producing 300k to 400k jobs a month, it's like no other recession. It's smoke and mirrors.
I was RIF'ed in July, I was able to get another job. Corporate America is playing musical chairs with their employees.
Money is the music, it's slowing down now. When millions of people making financial decisions every day all make the same decisions the music stops.
These recent show notes are making me depressed. The Republicans are proving themselves to be as inept as many of us feared they'd be. Good news on Herschel Walker but otherwise, it's disheartening to watch the big lead we had be totally squandered. No matter how you slice it, in my mind it all comes back to Trump.
Biden gets the blame for inflation, and to be sure his monetary policies are directly responsible for a lot of the current economic pain. But we didn't get here in a vaccume, the low interest rates have been here for a decade, Washington has been printing money like water for decades.
W Bush spend money like a drunken sailor. Medicare part B, seriously? Free medication for the group that hold the most wealth in the history of the world so they could keep their money in the bank and stimulate Eastern European economies by giving billions to scammers.
Keynesian economics to the destruction...
2008 TARP let's print half a trillion+ dollars and bail out wall street. Half the funds were authorized by Congress as Bush was leaving office at Present-elect Obama's request. It should have been returned to the treasury, never spent.
And why was wall street in this predicament? We can go back to Jimmy Carter's CRA, which Clinton doubled down on. Let's force banks to give trillions in loans to people that will likely default. No problem we will invent high return insurance, re-insurance, and re-re-insurance. Heroin for wall street. It all came crashing down in a cacophony.
2008 should have been the sobering up moment. Instead the Government came in with the narcan which encouraged the would be heroin addicts. Much like Uber reduced DIU's but binge drinking went up. The controlling, immediate consequence, which also passively controlled other behavior, was removed.
GM still declared bankruptcy, Bank of America is still saddled with the albatross Merrill Lynch, how many 401ks are suffering from that forced buy?
Factor in inflation and TARP cost the American tax payers and contributed to where we are today.
More Keynesian economics, Obama added anywhere from trillions to doubling the deficit, spending (printing) money we don't have.
Contrary to popular belief the deficit has not been 0 in the last 100 years. Budgets that don't add to the deficit don't mean the balance has actually come down. Bush 43 came into office with 5+ trillion 55% of GDP.
Obama drove us over the fiscal cliff leaving office with 19+ trillion, 105% of GDP. His policies, much like FDR and the depression, actually slowed the recession recovery and prolonged it.
Trump took us to 28 trillion, 129% of GDP.
There is always an excuse, a cost-benefit discussion. Where we have been for more than a decade is that debate is really about doing something that will absolutely cause harm and rationalized as "less bad'.
It's not all Biden's fault, or Trump's, or Obama's, or Bush 43, or 9/11 & Afghanistan, or the great recession, or COVID.
The space program from 1960-73 spent over $1 trillion (adjusted). In the 60's we were enjoying 4%-6% per year real GDP growth. Since 2001 the highest is 3.9% in 2004, a total of -6% in that period.
From 2008 to 2022 we had a 20% increase in GDP, and a 100% increase in the deficit. Where is the cost benefit?
Europe is languishing under the green agenda, the U.S. is, but the possibility of tens of thousands dying in the winter of 2022/23 is very real.
I suspect an actual depression is on the way. For too long economic policies were about preventing pain rather than allowing some pain in normal economic cycle. Like a system that builds up potential energy it ultimately has to be released. All the world's economies are about to explode.
There is an ecconomic uncertainty theory that basically says it is not possible to modulate tbe economy in a way prevent downturns that cause some pain to some people. The government should not try. Sound economic policy is keeping the sine wave average, not smoothing it out so no one gets hurt.
Keynesian economics has objectively, repeatedly failed. It is responsible for most of the bad (evidenced by negative consequences) economic policies for the last 90 years.
I think we are headed for an honest to God depression, forget about the 2008 recession. Sustained inflation at 8+% and interest rates climbing higher mean hunkering down. So you have a job, you limit your spending.
Target sales nonexistent, no merchandise, Walmart canceling billions in orders.
Oh, the economy is producing 300k to 400k jobs a month, it's like no other recession. It's smoke and mirrors.
I was RIF'ed in July, I was able to get another job. Corporate America is playing musical chairs with their employees.
Money is the music, it's slowing down now. When millions of people making financial decisions every day all make the same decisions the music stops.
Jean-Pierre is a professional gaslighter.
These recent show notes are making me depressed. The Republicans are proving themselves to be as inept as many of us feared they'd be. Good news on Herschel Walker but otherwise, it's disheartening to watch the big lead we had be totally squandered. No matter how you slice it, in my mind it all comes back to Trump.
Sheesh.....Florida Gator fans will do anything for attention, eh?