Coming from a progressive who wants to change everything that is not a surprising view.(Aston's view on mundanity.) Some traditions hold value. That's the reason they are traditional. The grass is not always greener.
Inflation and a recession are now here :(
- Thread starter lawpoke87
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Great news….if you exclude the things a normal family has to purchase then inflation has largely been defeated 😂
Food is the most significant problem in my eyes. There has been quite a bit of unnecessary gouging by the grocery supply chain. Several countries around the world have tried to crack down on this. We should be too.
Yeah!!!
Survival of the fittest!!
To heck with everyone who may have been born with a disability or drug addicted parents!
They just need to compete. That will fix everything eventually huh?
I'm waiting for him to chime in with, 'churches will take care of that'.
The churches will be too busy with the millions of destitute old folks once social security is abolished. No room for that socialistic government nonsense in the pure capitalist libertarian Utopia. Old folks need to compete like everyone else.
Lazy old malingerers.
Sorry. Big word.
exactly; abolish ss in favor of 401ks and iras. Get the gov out of the retirement business and let individuls be less dependent on the gov.
The Fed is running out of options. Interest rates are rising at an historical pace. Our government keeps spending at an insane rate with deficits now approaching $2B a year. Unless we begin to immediately show some fiscal responsibility we are headed to a financial crisis the likes of which we haven’t seen in years…and there is nothing the Fed can do about it. Odds Washington will do anything…..just about zero.
Overstated imo. China policy change regarding our treasuries are certainly contributing to the uptick on bond and mortgage rates we’re now seeing. We have the Fed raising rates trying to curb the money supply while our political leaders continue to inject trillions into the same. Mortgage rates are now 8%. The real estate industry is in trouble. Our debt service costs continue to rise. Dark clouds on the horizon. A mild recession at this point with China as a contributing factor would not the worse outcome imo. However, I don’t believe the headwinds coming out of Asia are strong enough to trigger such an event. Rates will continue to rise imo until we fall off the cliff triggered by a real estate meltdown.
You (royal you) did manage to leave Congress down one leader to deal with the situation. Congratulations!
That cliff is approaching quickly. We need leadership from the Admin in the form of getting our financial house in order. Spending must be addressed. Once we reach the cliff there will be nothing the Admin or Fed can do to ease the pain.
Correct. We just need prices to stabilize and hold steady. The ground lost in terms of real wages and standard of living will not be made up for years if ever.
Actually I was being sarcastic. You have no way of knowing that this happened for the first and only time.
Every party makes these kind of presently unsubstantiable claims.
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GDP goes up? Recession.
GDP goes down? Recession.
GDP stays the same? Believe it or not…recession.
GDP goes down? Recession.
GDP stays the same? Believe it or not…recession.
if you are losing 0-21 after 1 quarter, you cant claim victory because you outscocore them 21-20 in the next 3 .
In normal times 5% GDP growth would be celebrated. In these time there’s no cheering by those who understand economics and our current financial situation. The Dow is down 700 points and 10 year treasury yield is now up to almost 5% since the release of the GDP figure. We must get inflation near 2% and reduce the deficit. Borrowing $2T a year with a 5% (or higher) yield on the 10 year is a disastrous scenario. We’re at the point where a mild recession is needed imo.
1.3% of that 4.9% growth was out of control government spending. Don’t be fooled.
Shhhh... future generations might hear and object to the theft..
Get ready for them to trot out anecdotal evidence that consumer spending is driving GDP and what is driving consumer spending is loan forgiveness. So therefore we need to forgive more student loans and raise everybody else’s taxes to make up the shortfall.
I’m ready for the argument as to why borrowing $2T a year at a 5% interest rate is sustainable. Furthermore, how are we going to finance the additional trillions in debt which is scheduled to mature in the next 12-18 months at that 5% rate?
Those making our current economic policy should be prosecuted for the damage they are now doing. What is sad is people are going to look up in a few years and act surprised at the portion of our gross expenditures which goes toward debt service. This path is unsustainable.
Its not that he will be dead or doesnt care... its what his circle of influence wants and desires, a diminished U.S. ...
Agree. However, I do believe politicians are willing to sacrifice the long term well being of the country if it benefits their current political aspirations. The Biden Admin is aware of the below numbers. If nothing is done in the very near future the model based on 5% debt service will have to be adjust higher (possibly significantly higher). Again….this is unsustainable. All we have are crickets.
That nasty slope started with Trump & continued through Covid. Yes, the Democrats haven't dealt with it.
The real problem lies with debt service cost going forward. The issue isn’t so much the amount of debt (not saying deficits don’t need to be lowered) but the bond rates we’re going to be forced to pay going forward unless the government takes immediate steps to address the same. Take at look at our debt service costs over the next ten years at 5%. Now look at those same costs at 10%. We reach the point where we can’t service our debt and fund our social programs and defense very quickly. This isn’t a problem we can ignore.
