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06-01-2021, 07:03 PM
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#691
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Valued Poster
Join Date: Jan 1, 2010
Location: Austin Texas
Posts: 2,288
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Quote:
Originally Posted by Tiny
Up until Obama's presidency, the peak post WWII net debt to GDP ratio was 48%. Obama and Trump and Congress took that up to 80% pre-Covid. Now it's about 100%, and Biden's budget has it going up to 117%, even assuming he gets his tax increases. When you go over 100% you used to be considered to be in dangerous territory. Think Greece. Not necessarily now though because interest rates are low.
But what's going to happen when interest rates have to go up to control inflation? Say they go to 6%. That's roughly $1.2 trillion a year that has to be paid on the net national debt. Well, the individual income tax only collects $1.5 trillion a year. So what do we do? Raise taxes by 2/3rds to pay the interest on the debt? Probably not, we just let the problem snowball, but that's an indication of the magnitude of the problem.
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Tiny may be correct about the effects of inflation, but I have my doubts that we'll have to raise interest rates to control inflation. The temporary causes of inflation we're seeing now is due to the collapse of "just in time" manufacturing". The sudden collapse of demand due to the massive pandemic shutdown of the global economy shuttered manufacturing plants and emptied the small inventories in manufacturing components around the world.
Until manufacturing plants can get back up to speed, starting with the raw materials and sub components that manufacturers use to complete final products we'll continue to see higher than normal prices for some items across the board. Eventually pricing will drop back to a more stable value as supply meets demand.
https://www.nytimes.com/2021/06/01/b...shortages.html
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06-01-2021, 07:03 PM
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#692
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BANNED
Join Date: Mar 4, 2019
Location: In the valley
Posts: 10,786
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Quote:
Originally Posted by Tsmokies
Get a fnkn clue Levi. Trump had to pardon so many of his felony buddies...he was the Putin on the usa...except he couldn't poison his enemies...he just talk stupid shit
Biden/Harris is making America smart again
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Oh really, Biden is making America smart again. That would be a good opener for a stand up comedian. It would take fifteen minutes for the audience to quit laughing.
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06-01-2021, 07:11 PM
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#693
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Valued Poster
Join Date: Jan 9, 2014
Location: Near mid cities but never whaco
Posts: 4,826
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Get a clue again Levi...trump was a comedians dream. Who couldn't make fun of stupid???
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06-01-2021, 07:45 PM
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#694
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Lifetime Premium Access
Join Date: Nov 16, 2013
Location: Baton Rouge
Posts: 6,109
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Tiny is only partially right. As I said, a lot of the inflation is the result of supply issues rather than permanent increases that real inflation would cause. I’m no fan of rampant debt but if you recall no one cared about debt when taxes were slashed hence reducing revenue so that same attitude should exist when spending is made. According to Republicans “deficits don’t matter” and growing the economy will pay for tax breaks. Nevermind that in both situations the tax cuts caused huge deficit spending and subsequent recessions.
There’s a reason that since Reagan every recession has resulted from Republicans’ economic policies. There’s also a reason that under the Democrats deficits have all been smaller by the end of their terms.
Tiny will claim there’s no relation at all between those things because they don’t support his Reaganesque voodoo economic beliefs as pushed by the Grover Norquist crowd.
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06-01-2021, 08:42 PM
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#695
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Valued Poster
Join Date: Jan 9, 2014
Location: Near mid cities but never whaco
Posts: 4,826
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With all due respect 1blackman1...there is no reason for intelligent people to try and reason with stupid. I throw shit out there just to make the trump sucking idiots look more stupid. It's a fun and easy thing to do...if you don't believe me just watch...my post
We know they will never have a clue dude
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06-01-2021, 08:52 PM
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#696
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Premium Access
Join Date: Mar 16, 2016
Location: Steel City
Posts: 8,086
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Quote:
Originally Posted by Tsmokies
What did you not understand about "buddies" jac??? Through those numbers out there.
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Yes, much better to let as many drug traffickers as possible off the hook than people who got caught up in bullshit process crimes from spiteful swamp creatures who couldn’t make a case against the guy they really wanted. That’s Obonga’s legacy, poison thousands of children and get off scott free.
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06-01-2021, 09:13 PM
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#697
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Lifetime Premium Access
Join Date: Mar 4, 2010
Location: Texas
Posts: 8,998
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Quote:
Originally Posted by txdot-guy
Tiny may be correct about the effects of inflation, but I have my doubts that we'll have to raise interest rates to control inflation. The temporary causes of inflation we're seeing now is due to the collapse of "just in time" manufacturing". The sudden collapse of demand due to the massive pandemic shutdown of the global economy shuttered manufacturing plants and emptied the small inventories in manufacturing components around the world.
Until manufacturing plants can get back up to speed, starting with the raw materials and sub components that manufacturers use to complete final products we'll continue to see higher than normal prices for some items across the board. Eventually pricing will drop back to a more stable value as supply meets demand.
https://www.nytimes.com/2021/06/01/b...shortages.html
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No doubt inventories and the supply chain have something to do with it. I don't think that's all of it though. If you look at components of the CPI, most are up over 2% year on year.
Here's some of Larry Summers reasoning. He was Chief Economist of the World Bank, a senior Treasury Department official throughout the Clinton administration, and director of Obama's National Economic Council,
https://www.washingtonpost.com/opini...ovid-stimulus/
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06-01-2021, 09:42 PM
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#698
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Lifetime Premium Access
Join Date: Mar 4, 2010
Location: Texas
Posts: 8,998
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Quote:
Originally Posted by 1blackman1
Tiny is only partially right. As I said, a lot of the inflation is the result of supply issues rather than permanent increases that real inflation would cause. I’m no fan of rampant debt but if you recall no one cared about debt when taxes were slashed hence reducing revenue so that same attitude should exist when spending is made. According to Republicans “deficits don’t matter” and growing the economy will pay for tax breaks. Nevermind that in both situations the tax cuts caused huge deficit spending and subsequent recessions.
There’s a reason that since Reagan every recession has resulted from Republicans’ economic policies. There’s also a reason that under the Democrats deficits have all been smaller by the end of their terms.
Tiny will claim there’s no relation at all between those things because they don’t support his Reaganesque voodoo economic beliefs as pushed by the Grover Norquist crowd.
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There used to be a strong correlation between an NFC victory in the super bowl and stock market performance. Does that mean there's cause and effect? No.
Could you describe the specific "Republican economic policies" that resulted in recessions since Reagan?
Debt matters to me. I didn't like the trillion or so that George W. Bush and Congress piled on as a result of spending on the Iraq war. Or the trillions that Trump, Pelosi and McConnell piled on in 2020. For that matter the Republicans could have found lots of places to cut in 2017 and 2018, starting with the defense budget.
And I applaud the reductions in the deficit engineered by Bill Clinton, Newt Gingrich and others during the late 1990's. Working together they produced a balanced budget.
Lower taxes and lower spending are correlated with greater prosperity. Knock out the petrostates like Qatar and Norway and small places like Monaco and Luxembourg, and the wealthiest countries in the world, being Singapore, Ireland, Switzerland, Hong Kong and the USA, spend less and tax less than other developed countries. And it makes sense. The investment to grow the economy in a sustainable way is through the private sector, not through government. When more money stays in the hands of the people and businesses we're better off.
Biden and Democratic Congressmen apparently want to turn the USA into something like France, a high-taxing, high-spending country. If that happens most people will be worse off. France's GDP per capita adjusted for purchasing power is 28% lower than ours. Germany's is 17% lower. Germany spends and taxes less as a % of GDP than France, and more than we do.
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06-01-2021, 11:10 PM
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#699
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Valued Poster
Join Date: Jan 9, 2014
Location: Near mid cities but never whaco
Posts: 4,826
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Eveybody needs to understand that America's greatest generation has left the building. They secured our freedoms so the current generation dip shits can do nothing but talk shit like they have a fkn clue lol n wtd
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06-01-2021, 11:34 PM
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#700
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BANNED
Join Date: Mar 4, 2019
Location: In the valley
Posts: 10,786
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Quote:
Originally Posted by Tsmokies
Get a clue again Levi...trump was a comedians dream. Who couldn't make fun of stupid???
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Comedians made fun of Trump out of hatred and made him look stupid. Comedians now make fun of Biden because he is stupid. Remember you and 80 million dumb asses own that fucker.
https://youtu.be/2uI1st7fhOo
https://youtu.be/DZfzJATDmXs
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06-01-2021, 11:46 PM
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#701
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Lifetime Premium Access
Join Date: Mar 4, 2010
Location: Texas
Posts: 8,998
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Quote:
Originally Posted by Tsmokies
Eveybody needs to understand that America's greatest generation has left the building. They secured our freedoms so the current generation dip shits can do nothing but talk shit like they have a fkn clue lol n wtd
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How does this tie back to voter fraud?
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06-02-2021, 12:38 AM
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#702
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Lifetime Premium Access
Join Date: Nov 16, 2013
Location: Baton Rouge
Posts: 6,109
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Quote:
Originally Posted by Levianon17
Comedians made fun of Trump out of hatred and made him look stupid. Comedians now make fun of Biden because he is stupid. Remember you and 80 million dumb asses own that fucker.
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Comedians made fun of Trump because he was a walking joke and he was stupid. Injecting disinfectant was still my favorite. I mean how dumb and stupid must one be to actually say that shit out loud. Him and his followers - dumbest motherfuckers on the planet.
And before you claim he did not say it or it was out of context - here ya go,
"And then I see the disinfectant, where it knocks it out in one minute. And is there a way we can do something like that, by injection inside or almost a cleaning, because you see it gets in the lungs and it does a tremendous number on the lungs, so it’d be interesting to check that, so that you’re going to have to use medical doctors with, but it sounds interesting to me."
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06-02-2021, 12:56 AM
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#703
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Valued Poster
Join Date: Jun 5, 2017
Location: austin
Posts: 22,906
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Quote:
Originally Posted by 1blackman1
Comedians made fun of Trump because he was a walking joke and he was stupid. Injecting disinfectant was still my favorite. I mean how dumb and stupid must one be to actually say that shit out loud. Him and his followers - dumbest motherfuckers on the planet.
And before you claim he did not say it or it was out of context - here ya go,
"And then I see the disinfectant, where it knocks it out in one minute. And is there a way we can do something like that, by injection inside or almost a cleaning, because you see it gets in the lungs and it does a tremendous number on the lungs, so it’d be interesting to check that, so that you’re going to have to use medical doctors with, but it sounds interesting to me."
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My favorite is joe thinking he was running for the senate. c'mon man grow up.
Priceless
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06-02-2021, 07:40 AM
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#704
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Valued Poster
Join Date: Dec 31, 2009
Location: Georgetown, Texas
Posts: 9,330
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Quote:
Originally Posted by bambino
You’re the one who attacks sources while yours aren’t airtight. An insult is an insult Speedy. Again you deflect.
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So you won't answer my question. Because you can't. The sources I cited which point out the inaccuracies of the sources you cite are correct.
I don't cite sources to support my POV.I don't have to do so. Facts are facts. Trump lost. The votes were certified by states controlled by both Republicans and Democrats.
If any of the "forensic audits" being done or are planned to be done, come up with irrefutable evidence that significant fraud was perpetrated in the 2020 election that would change the results, I will change my opinion as to whether or not Biden won.
Right now, 7 months after the election, there is none at all.
On the other hand, if the audits fall flat on their faces, you and others will NEVER admit that Biden won a fair election.
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06-02-2021, 07:46 AM
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#705
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Valued Poster
Join Date: Dec 31, 2009
Location: Georgetown, Texas
Posts: 9,330
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Quote:
Originally Posted by dilbert firestorm
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It is so easy to find FACTS which show such posts to be incorrect.
Fact check: Table shows outdated voter registration numbers for 15 states
Thousands of social media users have been sharing a table which claims to provide evidence of election fraud by showing that in 15 states the number of votes counted in the 2020 General Election exceeds the number of registered voters. However, the most up-to-date figures for the number of registered voters are larger than those listed in the table, and not exceeded by the number of votes counted in any of the 15 states.
https://www.reuters.com/article/uk-f...-idUSKBN27M2GF
Fact-check: Trump's claim about votes exceeding voters in swing states
PolitiFact’s ruling: Pants on Fire!
https://www.statesman.com/story/news...tes/115051852/
Did No. Of Votes Exceed No. Of Registered Voters In Eight US States? The graphic used in the posts relies on old data that does not match the significantly higher official figures for registered voters as reported by the states.
https://www.boomlive.in/world/did-no...s-states-10555
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