Inflation was caused by the actions of the past 50 years of spending. Thanks for disproving your ideology in an attempt to dunk on Trump, who generally agrees with your spending views.

Señor Chang said:

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Another reason we should not be concerned by the massive spending is that $1 in government spending = greater than $1 in gdp growth.
Gdp growth = 1/ the propensity to save
The propensity to save is currently ~ 20%
Therefore every dollar spent today grows our gdp tomorrow by $5

This $5 of gdp growth then increases tax revenue by $5.
This increase in tax revenue is used to service the debt.

Basically, we can spend as much as we want with little to zero negative consequences. Long term inflation is not on the way.

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As it turns out money does grow on trees.

MMT for the win

Decay said:

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Manhattan said:

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80s - COVID.

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Kicking the can down the road and not having to pay the piper until the end is success? Do you think we'll somehow go through less pain if we keep kicking the can?

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I would love a real discussion thread on what happens when the final collapse comes..

keep kicking down the road for 70 years, and eventually there will come a reckoning.

like Greece, Ireland, Spain, Portugal, Argentina today, Zimbabwe,

eventually there will be a type of collapse in the USA economy

so what do we do then?

on a personal level, I would love to discuss the best plans to make to protect my retirement savings.

CDUB98 said:

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Señor Chang said:

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Another reason we should not be concerned by the massive spending is that $1 in government spending = greater than $1 in gdp growth.
Gdp growth = 1/ the propensity to save
The propensity to save is currently ~ 20%
Therefore every dollar spent today grows our gdp tomorrow by $5

This $5 of gdp growth then increases tax revenue by $5.
This increase in tax revenue is used to service the debt.

Basically, we can spend as much as we want with little to zero negative consequences. Long term inflation is not on the way.

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Not sure if serious.

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It's a perpetual motion machine

We all know those work, that entropy is decreasing and we have nothing to worry about

https://www.forbbodiesonly.com/moparforum/attachments/nothing-to-see-here-lesely-neilson-gif.933361/

shack009 said:

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Inflation was caused by the actions of the past 50 years of spending. Thanks for disproving your ideology in an attempt to dunk on Trump, who generally agrees with your spending views.

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Inflation "is always and everywhere, a monetary phenomenon. It's always and everywhere a result of too much money, of a more rapid increase in the quantity of money than an output."
- Milton Friedman

Fightin_Aggie said:

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CDUB98 said:

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Señor Chang said:

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Another reason we should not be concerned by the massive spending is that $1 in government spending = greater than $1 in gdp growth.
Gdp growth = 1/ the propensity to save
The propensity to save is currently ~ 20%
Therefore every dollar spent today grows our gdp tomorrow by $5

This $5 of gdp growth then increases tax revenue by $5.
This increase in tax revenue is used to service the debt.

Basically, we can spend as much as we want with little to zero negative consequences. Long term inflation is not on the way.

---

Not sure if serious.

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It's a perpetual motion machine

We all know those work, that entropy is decreasing and we have nothing to worry about

https://www.forbbodiesonly.com/moparforum/attachments/nothing-to-see-here-lesely-neilson-gif.933361/

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Entropy ain't what it used to be...

Manhattan said:

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M2 also shows that inflation was caused by actions in 2020.

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How about you drop the illusions and remind us of the totality of responsible parties who voted to print that $?

Inflation starting in 2020, 2022, 2000....it's all the same.

The difference this time is the disintermediation of primary dealers in the Covid response. We put trillions straight into consumer bank accounts and bypassed the normal paths. That absolutely kicked off CPI inflation.

What had happened before is decades of inflation in asset prices which, for the most part, is the source of wealth disparity.

Inflation in either case, who got the cash was the only difference.

It has been 60 hours since US debt crossed $33 trillion and it is already up another $50 billion.

That means we have added $833 million in debt PER HOUR since US debt crossed $33 trillion.

If the total US debt were divided by every household in the country, each household would… pic.twitter.com/FulzoqTbdC

— The Kobeissi Letter (@KobeissiLetter) September 21, 2023

Get Off My Lawn said:

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How about you drop the illusions and remind us of the totality of responsible parties who voted to print that $?

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The best deal maker in history.

Manhattan said:

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Get Off My Lawn said:

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How about you drop the illusions and remind us of the totality of responsible parties who voted to print that $?

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The best deal maker in history.

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Trump didn't pull that lever by himself. And I've said time and again that I disagreed with his part in the money printing… but it wasn't just him and a pen - so drop the selective telling (aka lying) and give us a breakdown of who voted "yay."

Get Off My Lawn said:

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Manhattan said:

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Get Off My Lawn said:

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How about you drop the illusions and remind us of the totality of responsible parties who voted to print that $?

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The best deal maker in history.

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Trump didn't pull that lever by himself. And I've said time and again that I disagreed with his part in the money printing… but it wasn't just him and a pen - so drop the selective telling (aka lying) and give us a breakdown of who voted "yay."

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They're all (99.333% of them) guilty of profligate spending. There are very few financially responsible politicians at any level - much less DC.

Don't forget in 2019 that Trump was pushing hard for negative interest rates.

Manhattan said:

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Get Off My Lawn said:

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How about you drop the illusions and remind us of the totality of responsible parties who voted to print that $?

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The best deal maker in history.

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This is awesome. They get him to do what they want one time and then forever pin the failure on him. Trump definitely owns a huge chunk of the responsibility and just the fact that so many dims supported him should have been a huge red flag.

You cannot spend yourself rich

what happens when the US Dollar is no longer the only world fiat currency that the rest of the planet has to use?

LMCane said:

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what happens when the US Dollar is no longer the only world fiat currency that the rest of the planet has to use?

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Lets try not to think about that

You left something rather important out of the equation. Ballooning government debt means massive printing of $ and therefore inflation. Inflation devalues your savings And buying power at a clip far exceeding your pay increases if your'e actually employed .

Which is perfect if your'e at war with the great American middle class and you seek to knock them down to dependent proletariat level like the poor.

well this sure sounds like things are going swimmingly!


Credit card losses are rising at the fastest pace since the Great Financial Crisis
PUBLISHED FRI, SEP 22 202311:10 AM EDTUPDATED 1 MIN AGO

Goldman Sachs predicts credit card losses will continue to climb through the end of 2024/early 2025.

What is unusual is that the losses are accelerating outside of an economic downturn, the firm said.

Credit card losses currently stand at 3.63%, up 1.5 percentage points from the bottom.