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FY DEFICIT (IN BILLIONS) DEBT INCREASE (IN BILLIONS) DEFICIT-TO-GDP RATIO 2021 $3,000 $1,584 13.2%
Note the difference between the deficit of 3 tril versus in increase in debt of only 1.6 tril. One can assume the other 1.4 tril came from "printed" money. It's just incredible that we stand by and tolerate this. After all, we must spend vast amounts of time of protecting the supposed rights of the TG crowd.
Foolishness.
Loose money has been a 2 edged coin for me . I was able to build up my portfolio .But now I am looking at inflation eroding the value of it at a time I am on a fixed income . I cannot predict the future but I am looking at potentially having to reenter the work force .
From a broader economic outlook ,the nation's economic trajectory is lunacy ;doubly so because we already know where it leads.
https://i0.wp.com/www.washingtonpost...ed-300x236.jpg
Here is what is going to happen. Bond holders of US debt are holding non-inflation instruments that will lose value . So the government ,needing to service the debt will have to offer higher rates of return . So more of the budget has to be dedicated to debt service . If the government intends to keep it's discretionary and non-discretionary obligations it will have to gobble up more of the available credit making less credit available to the private sector ......or they can cut services .
They could cut loose all mentally and physically healthy people from Welfare and tell them to find jobs which are thankfully out there in abundance. It would be good for them and good for the country.
Workfare was the solution in the Bubba years .
U.S. consumer price inflation jumps 6.8% year over year in November, the largest increase since 1982.
So it turns out that just printing more money is not really the answer?
Clueless Joe is still pushing the idea that passing spending bills will ease inflationary pressures .
“For anyone who, like me, is concerned about costs facing American families, passing BBB is the most immediate and direct step we can take to deliver,”
Statement by President Joe Biden on Today’s Consumer Price Index Data | The White House
ok so $367 billion (according to the CBO) of unfunded spending will reduce inflation ?
and that is with budget trickery , They said that if Build Brandon Better was properly funded for a decade it would require $ 3 trillion . But they lie and fund extending the enhanced child tax credit for only one year . As we all know ,government gimmies once passed are almost impossible to roll back.
Then Clueless Joe blamed inflation on Covid and supply chain issues and bragged that gas prices had dropped pennies .
“Half of the price increases in this report are in cars and energy costs from November. Since then, we have seen significant energy price reductions,”
Tell the people of California that prices are droppinghttp://cdn5.moneynewsdaily.com/20121002011943cali.jpg
If you're a dem, you must become a good, shall we say, "distorter of the truth". That's because the truth does not help you politically.
inflation rose by 6.8 % this year according to a Labor Dept report . This is the largest increase in 40 years .
CPI November 2021: Inflation surged 6.8% in November, more than expected, to fastest since 1982 (cnbc.com)
Yesterday at the Summit for Democracy ,Clueless called a 40 year high in inflation a "bump in the road " . Then he mumbled some incoherence
"I think you'll see it change sooner than, quicker than, more rapidly than it will take -- than most people think."
Yes. Now it is all crystal clear.Quote:
"I think you'll see it change sooner than, quicker than, more rapidly than it will take -- than most people think."
a new study on over-weight domestic turkeys was conducted by Brown University .
Waddle and shuffle: gait alterations associated with domestication in turkeys | Journal of Experimental Biology | The Company of Biologists
Maybe you did not know (or care ) that turkeys in the wild are fit . They can run a 6 minute mile .
This Turkey Is Exercising On A Treadmill While You're Eating His Brothers - Digg
But the (overpriced this year because of the big meat conglomerates ) domestic turkey raised for human consumption is a grossly obese version of the bird Ben Franklin once thought should be the national bird of America.
But who cares ? Evidently it was important enough for the government via the National Institutes of Health and the National Science Foundation to fund a $1.7 million grant to Brown U to conduct the study.
Sen Joni Ernst gave NIH and NSF the November 'Squeal Award 'for this study.
The Taxpayer Turkey Trot (senate.gov)
Make 'em Squeal - Senator Joni Ernst (senate.gov)
“With our national debt approaching $30 trillion and higher prices making it difficult for families to put food on the table, we cannot afford to continue wasting taxpayer dollars funding fowl projects … and folks, this one is a real turkey!”
To help prevent the right wing noise machine from being an echo chamber I submit that government doesn't set prices, or wages... corporations do. That's where inflation comes from. Have fun on your new job, but don't blame Joe for your CHOICES.
If I was in business making huge profits well above costs ,I could easily sell slightly less than my competitors and grab a whole lot of market share .
I guess all American companies are engaged in this big price fixing scheme to screw over the customers they need to stay in business. Typical lib logic.
No one "sets" prices. The market determines prices. When the gov begins to inject more dollars into the economy, then each dollar becomes worth a little less. Thus it takes more dollars to buy the same item.
Sure am glad the Biden admin jumped all over the distribution problems with dozens of enormous container ships stuck in harbors. It would also be nice if they would fix the problems on the southern border including getting rid of the "cages" which liberal dems found so offensive during the Trump admin. Strangely, they are silent now. Wonder why? Stinkin politics?
Warren Buffett the Dem's favorite corporate sage said this in a comment that he made supporting government debt.Warren Buffett explains the simple reason why the U.S. will never default on its debt (yahoo.com)Quote:
The chief worry about just printing money to pay obligations is inflation.“What you end up getting in terms of purchasing power can be in doubt,” Buffett said.
It always amazes me to read these, "We will never forfeit on our debt," articles. The average person reads that and thinks, "Then we can accumulate all the debt we want!" You can if you plan on handling the great pain that will accompany it. In America, if we don't kill our children before they are born, we instead burden them with enormous debt because, after all, we must find out about obesity in turkeys.
You drop your prices, they drop theirs, and we race to the bottom of no profit.Quote:
Originally Posted by tomder55
Generally speaking, the less efficient businesses can't compete and go out of business. That's why you can't buy a Packard or Pontiac automobile now. Kodak used to be the number one camera company. Now? Not so much. The company does not even exist. Novel used to be a prime leader in computer networking, but now they do very little. The list goes on and on. It's the benefit of a free market. If companies are "setting" prices, then that's a violation of law.
Buffet further clarifies his statement on inflation in a series of articles (Please forgive my inability to provide links here that I got by googling "Buffet on inflation")Quote:
Originally Posted by tomder55
As a citizen we deal with inflation with smart budget decisions, and buying choices.
As citizens we deal with inflation, wars, floods, recessions, and tornadoes. It does not make those things trivial. And as always, the aged and poor suffer the most. It is impossible for a person to say they care about the poor and yet not take inflation seriously. That's especially true when it is all so needless as it is now. It all comes down to an appalling lack of discipline we are displaying as a nation.
Blast from the past
https://scontent-atl3-2.xx.fbcdn.net...rQ&oe=61E1F60C
Fantastic and very sadly true. Evidently, at that time, it did not occur to them that we would try and print our way out of trouble.
Now if we can just get all of those filthy rich people to pay their "fair share".
https://www.foxbusiness.com/business...ver-11-billionQuote:
Musk says his tax bill for 2021 was over $11 billion.
<sarc> Not enough ! If he can afford to send people to space on joy rides ,he can afford to end hunger ! </sarc>
2% of Elon Musk's wealth could solve world hunger, says director of UN food scarcity organization - CNN
Elon Musk tweets he'll spend $6 billion to fight hunger on 1 condition (cnbc.com)
Me ? I would not give a penny to any UN agency . The UN is the most corrupt institution in the world .
Got $465,000 to waste? You too can teach pigeons to gamble. I kid you not, The NIH is using tax payer's money for an experiment to teach pigeons to use "a monetary-like currency" to "decide whether to earn, accumulate, spend, or gamble tokens in a self-contained economic environment."
An animal model of gambling in a laboratory-based token economy - Timothy Hackenberg (grantome.com)
This was just one of the many creative use of money government wasted in this year's Festivus Report (airing of grievances ) at the Christmas holiday season compiled by Senator Rand Paul.
Microsoft Word - Festivus Report 2021.docx (senate.gov)
It's what they do when Washington pols figure out that the American people have become so inattentive (to put it nicely) that they can borrow/print money head over heels in order to fund these programs. That and the ever complaint liberal media makes it all possible. How sad to see us just throw away things of such great value.
Big meat wasn't a big enough target . Now the blonde hair blue eyed native American wants to target big food .She wants to break up Krogers for some strange reason. What is Kroger's profit margin ? O.75 % .
The Kroger Co. (KR) Valuation Measures & Financial Statistics (yahoo.com)
Profit margins NEVER stopped boards and CEOS from getting filthy rich and staying that way.
I have no problem with high salaries for the big wheels as long as the opportunity is open to everyone. Most of us won't do it, however. It requires great vision and a serious education along with sixty to seventy hour workweeks. The average person just won't do it.
I'm a spread the wealth fairly kind of guy and hard work and a good education may not make you rich. That opportunity ain't there for everybody. Never was, probably will be.
Aside from the mentally or physically challenged, the opportunities are endless.
It seems to me that the "spread the wealth" believers don't follow their own advice. They typically don't spread their own wealth around. Did you volunteer to give part of your paycheck to the janitor? Why is "spreading the wealth" always what someone else is supposed to do?
I'm not jealous of their income. As long as it's competitive and legal, then go for it.
Yeah, most of us do.Quote:
Originally Posted by jlisenbe
And you know that how?
Verbal and written interaction.Quote:
Originally Posted by jlisenbe
With perhaps 1% of 1% of 1% of the people you claim to know about. Do you see why I would look at that with extreme reservation?
Oh ye of little faith!Quote:
Originally Posted by jlisenbe
What would you do with the money if you amassed a fortune or somehow came into a large amount of money?
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