Biden economy 2023

[Thread]

Not like your doomcasting.

That's what you did, Lumps, that and trying to assassinate President Trump.

[daboom1]

[pgardn]

Gas is under 3 bucks a gallon in SA
Biden is bestest president Evah.

-MAGA thoughtmaster

[CosmicCowboy]

I wouldn't touch a 10 year US Treasury with a 10-foot pole. Does anyone really trust this government to manage its finances in any way shape or form over the next 10-20 years?

Republicans will not raise taxes and Democrats will not cut social spending programs under any cir stances. Both parties will provide the military nearly blank checks.

That leaves one solution to dealing with the debt in the long-term -- simply printing money to pay off the interest and watching inflation skyrocket like it does in less developed countries that also can't manage their own finances.

It's the most predictable pending financial crisis in history.

No kidding. The US is going to have to borrow one trillion.dollars just this third quarter. Fears that they are going to have a hard time placing this debt could keep driving up interest rates even more creating massive inverse losses in existing bonds.

[CosmicCowboy]

I still have quite a bit in the stock market (probably dumb) but the bulk I am just rolling in 3 month and 9 month CDs. No way I'm touching 10 year treasuries.

[FuzzyLumpkins]

I still have quite a bit in the stock market (probably dumb) but the bulk I am just rolling in 3 month and 9 month CDs. No way I'm touching 10 year treasuries.

They've made those markets to important to fail. If another crash happens they procedurally bail it out at this point.

It is more likely they will change the procedures that allow the debt ceiling yearly showdown than default.

[CosmicCowboy]

They've made those markets to important to fail. If another crash happens they procedurally bail it out at this point.

It is more likely they will change the procedures that allow the debt ceiling yearly showdown than default.

Feds already holding over 8 trillion in assets trying to moderate rates. There is a limit to what they can do.

[Blake]

Took college courses in every main field

Beyond data tracking economics is a crapshoot

Sure you did

[FuzzyLumpkins]

Feds already holding over 8 trillion in assets trying to moderate rates. There is a limit to what they can do.

I remember when the same thing as said when it first hit 10 figures. This is not home finance.

[CosmicCowboy]

I remember when the same thing as said when it first hit 10 figures. This is not home finance.

I take it you are a modern monetary theory believer?

[baseline bum]

Republicans will not stop cutting taxes on the rich at every opportunity and Democrats will eventually chip away at social programs to keep allocating more to our national offense. Both parties will provide the military nearly blank checks.

FIFY

[boutons_deux]

Most I'll be interested that the US pays on its national debt goes right into American pockets, AKA, American citizen bond holders

2001 and 2017 repug tax cuts cuts for the oligarchy cost, costing America several trillion dollars in tax revenue

[boutons_deux]

Reports say the capitalist private equity millionaires who own the Democratic machinery, polling services, etc. Are heavily cutting staffing levels

A back door way that the capitals rig elections against tax raising Democrats in favor of tax cutting repugs

[DMX7]

I take it you are a modern monetary theory believer?

He doesn't know what you're talking about, but clearly he is one.

[Thread]

Reports say the capitalist private equity millionaires who own the Democratic machinery, polling services, etc. Are heavily cutting staffing levels

A back door way that the capital stole the guard key rigs elections against tax raising Democrats in favor of tax cutting repugs

...and, and, how does Trump fit it here, buster?

[Splits]

[Thread]

Compiled by a Jew in another district.

---

P.S., are you ready to bury the old perverbial hatchet, Splits?

[ElNono]

I wouldn't touch a 10 year US Treasury with a 10-foot pole. Does anyone really trust this government to manage its finances in any way shape or form over the next 10-20 years?

Republicans will not raise taxes and Democrats will not cut social spending programs under any cir stances. Both parties will provide the military nearly blank checks.

That leaves one solution to dealing with the debt in the long-term -- simply printing money to pay off the interest and watching inflation skyrocket like it does in less developed countries that also can't manage their own finances.

It's the most predictable pending financial crisis in history.

No kidding. The US is going to have to borrow one trillion.dollars just this third quarter. Fears that they are going to have a hard time placing this debt could keep driving up interest rates even more creating massive inverse losses in existing bonds.

Didn't we have a hyperinflation thread years ago? Hasn't been there mul udes of discussions about the Yuan replacing the dollar? How's that going?

What you guys are missing is that the value of the dollar as a liquidity/savings currency of choice is only relative to other currencies. Those other currencies also depreciate and/or get manipulated (the Yuan being a prime subject, which China uses to remain compe ive).

Of course "One Trillion Dollars!" sounds excessive, but given than we have a historical 2% inflation rate, the sums to pay for the same thing are going to continue going up, hand in hand with the value of the currency eroding over time due to said inflation.

But this is also why it's important for the Fed to level the inflation rate at 2%. It provides certainty and future outlook, which are important to the currency.

I think a more interesting discussion here is if we're overleveraged. ie: Is our debt/GDP output excessive. I do think you might have an argument there.

[Winehole23]

Republicans wreck the economy, Dems fix their messes.

[Winehole23]

Didn't we have a hyperinflation thread years ago? Hasn't been there mul udes of discussions about the Yuan replacing the dollar? How's that going?

What you guys are missing is that the value of the dollar as a liquidity/savings currency of choice is only relative to other currencies. Those other currencies also depreciate and/or get manipulated (the Yuan being a prime subject, which China uses to remain compe ive).

Of course "One Trillion Dollars!" sounds excessive, but given than we have a historical 2% inflation rate, the sums to pay for the same thing are going to continue going up, hand in hand with the value of the currency eroding over time due to said inflation.

But this is also why it's important for the Fed to level the inflation rate at 2%. It provides certainty and future outlook, which are important to the currency.

I think a more interesting discussion here is if we're overleveraged. ie: Is our debt/GDP output excessive. I do think you might have an argument there.

Bad debt is the proximate cause of just about all recessions. Obligations that can't be paid won't be. Saving the bad debts rather than allowing default and liquidation only prolongs the problem.

We've been doing that since 2008, under Dems and Republicans.

[ElNono]

Bad debt is the proximate cause of just about all recessions. Obligations that can't be paid won't be. Saving the bad debts rather than allowing default and liquidation only prolongs the problem.

We've been doing that since 2008, under Dems and Republicans.

I get what you mean, and I do think AIG should've gone under alongside Bear Stearns. However, when you get to that point, there's a short distance to a bank run. And that's undoubtedly more expensive and doesn't help anybody.

What I'd like to see is some sort of protocol to unwind these companies that are "too big to fail" or important enough to make a dent on the overall economy.

Instead of flat out bailing them out, just provide enough cash to slowly let the zombie decompose and die, honoring debts, etc.

[ElNono]

There's also something to be said about "too big to fail". Isn't that a byproduct of a deficient enforcement of anti-trust laws?

If they're too big, then maybe they ought to be split up.

[daboom1]

[daboom1]

[daboom1]