The Biden Economy

[Dondilion]

The Federal Reserves $34.5 trillion problem.

Following the IMF warning on spending, the linked article is an eye opener on the ponzi scheme operation of the federal government/federal reserve collective. Of special interest is the "debt monetization" operation..

https://www.fxstreet.com/amp/analysi...m-202404261906

[donquixote99]

Originally Posted by Dondilion

The Federal Reserves $34.5 trillion problem.

Following the IMF warning on spending, the linked article is an eye opener on the ponzi scheme operation of the federal government/federal reserve collective. Of special interest is the "debt monetization" operation..

https://www.fxstreet.com/amp/analysi...m-202404261906

A big fat sack of polemics on the scale, seems to me. 'Welfare state' rhetoric when welfare is 18% of the Fed budget. The US taxes way under what most developed economies tax. Increase the tax just half the way from where we are to the average, and we'd wipe out the deficit, and could pay off the debt.

The actual problem is the top wealth hoarders would rather loan money to the government and get interest on it forever, rather than pay taxes.

[Dondilion]

Originally Posted by donquixote99

A big fat sack of polemics on the scale, seems to me. 'Welfare state' rhetoric when welfare is 18% of the Fed budget. The US taxes way under what most developed economies tax. Increase the tax just half the way from where we are to the average, and we'd wipe out the deficit, and could pay off the debt.

The actual problem is the top wealth hoarders would rather loan money to the government and get interest on it forever, rather than pay taxes.

I do not read here "Welfare state rhetoric". What I see is criticism of spending in general and the interplay between the Federal reserve and the Federal government.

The Federal reserve is facilitating the Federal government profligate behavior and avoidance of tax implementation by creating fake demand for treasure bonds.

[donquixote99]

Originally Posted by Dondilion

I do not read here "Welfare state rhetoric". What I see is criticism of spending in general and the interplay between the Federal reserve and the Federal government.

The Federal reserve is facilitating the Federal government profligate behavior and avoidance of tax implementation by creating fake demand for treasure bonds.

"Because higher taxes are politically untenable, the government would be forced to constrain its spending, putting a natural check on both the warfare and the welfare state."

Why are higher taxes politically untenable? Because libertarian wealth-holders don't like them.

[Chicks]

All 3 major stock indexes close at record highs as inflation slows down
https://thehill.com/business/4666442...-record-highs/

Naturally, Donny is now claiming credit for Biden’s superb economy… and the rubes believe him. Sigh.

[Pio1980]

J B will have two scheduled debate sessions with MagaLardo Mussolini under controlled cdx, minus the peanut gallery.
What makes me think this will be the classic "chess with a pidgeon" scenario.

[bobabode]

Dow Jones tops 40,000 for the first time.

The l'orange presidential turnip promised that Biden and the Democratic Party would tank the economy into a major depression, what happened?

ps Thanks Joe, my 401k loves you.

[Chicks]

Paul Krugman Schools Americans 'Righteously Angry' About Soaring Costs: Biden's Price Levels Mirror Reagan's Inflation Triumph
https://www.benzinga.com/amp/content/39032776

Sadly, those who would vote for Trump refuse to be schooled.

[RickeyM]

Originally Posted by Chicks

Paul Krugman Schools Americans 'Righteously Angry' About Soaring Costs: Biden's Price Levels Mirror Reagan's Inflation Triumph
https://www.benzinga.com/amp/content/39032776

Sadly, those who would vote for Trump refuse to be schooled.

The GOP propaganda machine is indeed strong. They've got Biden blamed for everything from the end of civilization as we know it to erectile dysfunction. I was fond of saying the GOP character assassination of Hillary Clinton was second to none but with the orange turd's help they've oudone themselves with the job they're doing on Biden. It's hard to fight that. The Democrats have done a piss poor job of telling the country about what's really going on. Some Americans are hip to it but forget about the cult, normal reasoning is beyond them. The Dems need many of our leaders out there pushing against the Republican narrative but it seems they want to leave it all up to Joe. This leaves the Repubs with a single target to focus on.

[donquixote99]

People who mainly get their information from 'main stream media' think the economy is doing well. People who mainly get their information from You-Tube and social media think it is a disaster. So it's the new media that is the problem? Do the Democrats need to get better at Internet? That is, better at dishonest propaganda, which seems to be what it's especially good for?