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Uber Member
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Dec 8, 2021, 06:19 AM
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The elephant in the room
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.
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Ultra Member
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Dec 9, 2021, 04:27 AM
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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.
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Ultra Member
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Dec 9, 2021, 05:11 AM
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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 .
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Ultra Member
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Dec 9, 2021, 05:18 AM
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Uber Member
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Dec 9, 2021, 05:33 AM
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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.
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Ultra Member
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Dec 9, 2021, 05:54 AM
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Workfare was the solution in the Bubba years .
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Ultra Member
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Dec 10, 2021, 05:00 PM
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U.S. consumer price inflation jumps 6.8% year over year in November, the largest increase since 1982.
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Uber Member
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Dec 10, 2021, 05:56 PM
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So it turns out that just printing more money is not really the answer?
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Ultra Member
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Dec 11, 2021, 06:11 AM
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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 dropping
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Uber Member
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Dec 11, 2021, 06:45 AM
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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.
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Ultra Member
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Dec 14, 2021, 05:48 AM
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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."
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Uber Member
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Dec 14, 2021, 10:29 AM
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"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.
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Ultra Member
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Dec 16, 2021, 05:39 AM
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Expert
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Dec 18, 2021, 06:07 AM
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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.
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Ultra Member
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Dec 18, 2021, 06:11 AM
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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.
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Uber Member
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Dec 18, 2021, 06:12 AM
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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?
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Uber Member
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Dec 18, 2021, 06:29 AM
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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.
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