GDP Hits 4.1 %! In Second Quarter

[bambino]

You haven’t aged well Poofter. But my old thread you bumped that I predicted the market would break 30k was right on the money.

[WTF]

Originally Posted by Tiny

As far as blowing out the deficit, Biden, Pelosi and Schumer are making Ryan, McConnell and Trump look like pikers, during the two years they controlled our federal government. Biden et al added $1.9 trillion to the national debt with the American Rescue Plan, while Larry Summers, other economists, and Republican leaders were telling them it was nuts. And so what have we got now? High inflation in goods and services that's outrunning inflation in wages. The working man is losing ground. If not for Sinema and Manchin we'd be even more fucked.

But yes, you can't blame inflation entirely on the American Rescue Plan. It was just one of a number of factors. Like supply chain glitches and higher prices caused by the tariffs. Tariffs that Biden could remove with a stroke of his pen. But he hasn't, at least yet.

lustylad posts about how much more tax revenue we have and you post about all the stimulus money handed out and the both of you try and simultaneously praise Trump for the extra tax revenue and blame Biden for inflation!

[WTF]

Originally Posted by bambino

You haven’t aged well Poofter. But my old thread you bumped that I predicted the market would break 30k was right on the money.

Yea good call on calling the Dow topping 30k after Bidens election win.

[Tiny]

Originally Posted by WTF

lustylad posts about how much more tax revenue we have and you post about all the stimulus money handed out and the both of you try and simultaneously praise Trump for the extra tax revenue and blame Biden for inflation!

Lusty Lad and I are just stating the obvious. But if you'd like an example of how partisanship can make a smart person look foolish, there's a good example in a thread you resuscitated earlier today --

January, 2018:

Originally Posted by WTF

First artificially low interest rates and now a tax cut.....when our debt is no longer attractive to countries, interest rates will rise and you will remember this warning.

Today, commenting on that post:

Originally Posted by WTF

Hmmmmmm January of 2018

So you're blaming higher interest rates in 2022 on tax cuts that took effect on 1/1/2018? Or at least I guess that's what you're getting at. Lusty Lad and I have been complaining about artificially low interest rates for quite a while. So has Chung Tran. I don't remember you saying much about Fed policy, since Biden's election.

Interest rates are rising and will rise more, because of inflation. Why do we have higher inflation? Well in part because of Biden's American Rescue Plan. And partly because of supply chain hang ups and higher priced imports, problems which could be alleviated with a few strokes of Biden's pen.

[Chung Tran]

Originally Posted by Tiny

Interest rates are rising and will rise more, because of inflation. Why do we have higher inflation? Well in part because of Biden's American Rescue Plan. And partly because of supply chain hang ups and higher priced imports, problems which could be alleviated with a few strokes of Biden's pen.

Biden is in a bad spot regarding China. It is not a good time to be offering any concessions to that Regime. I would prefer he keep the Tarrifs in place for now.

While we aren't far from the subject, I strongly oppose the plan (hopefully just a rumor) that Biden will eliminate $10,000 per person in student debt next week. It is inflationary and unfair. The people who really need help would fractionally benefit, and extra inflation would quickly squash even that.

[WTF]

Originally Posted by Tiny

Lusty Lad and I are just stating the obvious. But if you'd like an example of how partisanship can make a smart person look foolish, there's a good example in a thread you resuscitated earlier today --

January, 2018:



Today, commenting on that post:



So you're blaming higher interest rates in 2022 on tax cuts that took effect on 1/1/2018? Or at least I guess that's what you're getting at. Lusty Lad and I have been complaining about artificially low interest rates for quite a while. So has Chung Tran. I don't remember you saying much about Fed policy, since Biden's election.

Interest rates are rising and will rise more, because of inflation. Why do we have higher inflation? Well in part because of Biden's American Rescue Plan. And partly because of supply chain hang ups and higher priced imports, problems which could be alleviated with a few strokes of Biden's pen.

Well, well...look here at what I've caught.

You seem to think the core of the snowball it not just as responsible for the destruction that is caused by its flight as the outer layer.

The Fed can not raise tax rates but if they could it would have similar results to that targeted segment as higher intrest rates.

I'm not griping about the Fed policy...in fact what little I have said about recent Fed policy is that I hope they do not over correct. If I remember correctly CT wants a higher hikes. I do not.

I take it you want to recind the Trump tariffs? The way China has sided with Russia...I would not do that unless there were assurances they would join in the sanction pressure towards Russia to end their war.

But if they will not....I'm fine letting Russia and China team up and us and Europe (including) Ukraine face off in another Cold War.

[Tiny]

Originally Posted by Chung Tran

Biden is in a bad spot regarding China. It is not a good time to be offering any concessions to that Regime. I would prefer he keep the Tarrifs in place for now.

I believe the tariffs are a lose/lose proposition for the U.S. and China. The big beneficiary is Vietnam, as Chinese electronics and textile companies relocate production to there and other countries to avoid the tariffs.

Originally Posted by Chung Tran

While we aren't far from the subject, I strongly oppose the plan (hopefully just a rumor) that Biden will eliminate $10,000 per person in student debt next week. It is inflationary and unfair. The people who really need help would fractionally benefit, and extra inflation would quickly squash even that.

I agree with that. Given that people with college degrees make more money, it would be a subsidy to the rich.

[Tiny]

Originally Posted by WTF

But if they will not....I'm fine letting Russia and China team up and us and Europe (including) Ukraine face off in another Cold War.

What happened to the WTF I used to know? The three-quarters Libertarian. The man who wanted to cut military spending to reduce the deficit. Get hold of yourself. Think "What would Gary Johnson do" before you say things like that.

[WTF]

Originally Posted by Tiny

What happened to the WTF I used to know? .

Realpolitik.

Read what dilbert posted that Kissinger wrote about the current state of Ukraine.

We can not sustain high oil prices forever. We will eventually have to negotiate with Russia.

[bambino]

Originally Posted by WTF

Yea good call on calling the Dow topping 30k after Bidens election win.

It was 30k before Bribes took office. It will be under 30k soon.

[WTF]

Originally Posted by bambino

It was 30k before Bribes took office. It will be under 30k soon.

I said election win. Was that not correct?

Aren't you the same lil fella who said Trump would be reinstated?

It did appear that the market loved both Trumps and Biden's stimulus money.

Are you proud of the debt those two numbnuts have piled up?


Hopefully you've made a lot of money in the market to offset the resulting inflation!

I think Wacko's stock portfolio is moving in the wrong direction. No damn wonder he is so grumpy all the time!

[bambino]

Originally Posted by WTF

I said election win. Was that not correct?

Aren't you the same lil fella who said Trump would be reinstated?

It did appear that the market loved both Trumps and Biden's stimulus money.

Are you proud of the debt those two numbnuts have piled up?


Hopefully you've made a lot of money in the market to offset the resulting inflation!

I think Wacko's stock portfolio is moving in the wrong direction. No damn wonder he is so grumpy all the time!

Trump never left

[WTF]

Originally Posted by bambino

Trump never left

Oh yea I forgot...you still think Trump is President!

[The_Waco_Kid]

Originally Posted by WTF

I said election win. Was that not correct?

Aren't you the same lil fella who said Trump would be reinstated?

It did appear that the market loved both Trumps and Biden's stimulus money.

Are you proud of the debt those two numbnuts have piled up?


Hopefully you've made a lot of money in the market to offset the resulting inflation!

I think Wacko's stock portfolio is moving in the wrong direction. No damn wonder he is so grumpy all the time!

no one believes your claim you are up 30% in this current bear market.

[The_Waco_Kid]

Originally Posted by Chung Tran

Biden is in a bad spot regarding China. It is not a good time to be offering any concessions to that Regime. I would prefer he keep the Trump's Tarrifs in place for now.

While we aren't far from the subject, I strongly oppose the plan (hopefully just a rumor) that Biden will eliminate $10,000 per person in student debt next week. It is inflationary and unfair. The people who really need help would fractionally benefit, and extra inflation would quickly squash even that.

ftfy

you are correct on no concessions and not just trade. i'm sure you are aware China has aggressively been claiming islands far outside their legal scope in the South China Sea yes? no one seems to be willing to stop that. these islands are really atolls so they aren't inhabited so there isn't any uproar. they aren't attacking any nations.


they are violating international maritime law clearly. they have been ruled against several times but again that's toothless without something more substantial to back it up.


China seems to be attempting to claim the entire South China Sea and in general mirror what Japan did in the run up to WWII by seizing these atolls. of course they can't claim any inhabited islands unless hey want a shitstorm over it.


at the moment all the US can do is continue to patrol with the Navy while still of course being in international waters. China has made some attempts to confront Navy forces but it's mostly saber rattling. they aren't going to risk a serious confrontation at this point.


but left unimpeded they can vastly expand their territory. at some point they probably intend to claim no passage in the entire area. that's illegal of course but if they are allowed to make permanent bases all across the South China Sea then it's like the old saying "possession is 9/10ths the law". once they have someone needs to take it back and only the US and Japan have the Naval might to do it. question is, would we?