Economics Thread

sturg33 said:
Neither party seems to understand this, or if they do, they don't seem to care

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The open secret is the economy does better in the short term with more government spending and no one gives a **** about the long term consequences. Getting elected is priority #1 to all politicians. Thus spending never goes down.
 
sturg33 said:
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I am not opposed to government spending and programs and ****, I just want them to be reasonably efficient and effective. Instead we get .001% of the value for what they tax us. Maybe someone can explain to me how kids in the 1930's learned math in school without a thousand dollar computer in front of them.
 
Real per capita GDP was around $6000 in 1930. Now it is around $80,000. Not all of it is down to a better educated population but a big chunk of it is. Just like a big part of the difference in per capita GDP in red and blue states is due to educational attainment.
 
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https://www.washingtonpost.com/opinions/2024/08/21/kamala-harris-donald-trump-economic-policies/

Adding a dash of substance to her one-word political program (“Joy”), Kamala Harris says that as president, she would tell the Federal Trade Commission to first define “excessive” price increases, then prosecute the living daylights out of the miscreants responsible for cornflakes costing (by some undisclosed metric) too much. She who was in the administration that has approved spending in trillion-dollar tranches, thinks that understanding inflation in terms of mundane matters such as supply and demand is for weaklings who do not grasp the marvels that muscular government can accomplish. Next? Perhaps legislating that lobsters shall grow on trees.

Harris, to whom the private sector is as foreign as Mongolia, has added this filigree to her platform of magic: Because houses cost too much, she proposes a $25,000 subsidy for first-time buyers. She would solve the problem of a commodity’s high price by increasing monetary demand for it. What could go wrong?

…

Donald “Tariff Man” Trump’s Harris-esque contribution to this year’s magical beliefs expands upon his 2016 promise that Mexico would pay for his “beautiful” border wall. Now he says China, like all nations that export goods to the United States, will somehow pay the additional tariffs (the rates he mentions vary with his whims) that he promises to impose on everything from everywhere. So remember: When you pay, say, 20 percent extra for an imported appliance, you did not really pay it. Magic!

He also promises to cut energy costs in half — in 100 days or less. And the six-times-bankrupted financial wizard says he will lower auto insurance costs — details pending. The Lovin’ Spoonful’s “Do You Believe in Magic” got here 59 years ago: “… if the music is groovy/ It makes you feel happy like an old-time movie.”


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The economy portion of the POTUS debate should be a hoot. Two morons making things up as they go, while their cheerleaders nod along.
 
Hmm - I guess we should ignore real world results from Trump.

Fitting for people that live in textbook world.

Has to be some form of disconnect with the world to say trumps a moron on economic issues while he oversaw the best economy we may have had in over a century TARIFFS and all (Cathie Woods words not mine). But sure the textbook lolbertarian community knows better!
 
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acesfull86 said:
https://www.washingtonpost.com/opinions/2024/08/21/kamala-harris-donald-trump-economic-policies/

Adding a dash of substance to her one-word political program (“Joy”), Kamala Harris says that as president, she would tell the Federal Trade Commission to first define “excessive” price increases, then prosecute the living daylights out of the miscreants responsible for cornflakes costing (by some undisclosed metric) too much. She who was in the administration that has approved spending in trillion-dollar tranches, thinks that understanding inflation in terms of mundane matters such as supply and demand is for weaklings who do not grasp the marvels that muscular government can accomplish. Next? Perhaps legislating that lobsters shall grow on trees.

Harris, to whom the private sector is as foreign as Mongolia, has added this filigree to her platform of magic: Because houses cost too much, she proposes a $25,000 subsidy for first-time buyers. She would solve the problem of a commodity’s high price by increasing monetary demand for it. What could go wrong?

…

Donald “Tariff Man” Trump’s Harris-esque contribution to this year’s magical beliefs expands upon his 2016 promise that Mexico would pay for his “beautiful” border wall. Now he says China, like all nations that export goods to the United States, will somehow pay the additional tariffs (the rates he mentions vary with his whims) that he promises to impose on everything from everywhere. So remember: When you pay, say, 20 percent extra for an imported appliance, you did not really pay it. Magic!

He also promises to cut energy costs in half — in 100 days or less. And the six-times-bankrupted financial wizard says he will lower auto insurance costs — details pending. The Lovin’ Spoonful’s “Do You Believe in Magic” got here 59 years ago: “… if the music is groovy/ It makes you feel happy like an old-time movie.”


—————

The economy portion of the POTUS debate should be a hoot. Two morons making things up as they go, while their cheerleaders nod along.
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There is no perfect single measure of monopolistic power. But the behavior of price markups is part of the toolkit along with some other metrics. Pretty standard part of the toolkit for antitrust enforcement.
 
thethe said:
Hmm - I guess we should ignore real world results from Trump.

Fitting for people that live in textbook world.

Has to be some form of disconnect with the world to say trumps a moron on economic issues while he oversaw the best economy we may have had in over a century TARIFFS and all (Cathie Woods words not mine). But sure the textbook lolbertarian community knows better!
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Cashier Wood may possibly be the worst investor in the world
 
GVirtaWbgAEb3Yq
 
Yet producers the greatest economy and opportunity in the free world.

I didn’t think we’d be in here with pro communists but….
 
Haven't we had communism in this country since FDR and the New Deal. Just askin'

If you want to go back to the good old days Herbert Hoover would be your man.
 
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I’m not even saying he’s wrong, but if he’s right, this seems like more of an indictment on our system than it is on the Biden Administration. We should not have an economic system that is so speculative that the value of assets can be impacted so greatly by the announcement of who an unpopular third-party candidate is endorsing more than 2 months before the election.
 
Yup - it’s a tremendous time for asset holders. Difference between the trump and Biden terms is that for Trump it was a tremendous time for blue collar low skilled workers as well.
 
mqt said:
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I’m not even saying he’s wrong, but if he’s right, this seems like more of an indictment on our system than it is on the Biden Administration. We should not have an economic system that is so speculative that the value of assets can be impacted so greatly by the announcement of who an unpopular third-party candidate is endorsing more than 2 months before the election.
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Man, idk if you know this but GameStop speculation can make you a lot of money and they are on life support
 
Tapate50 said:
Man, idk if you know this but GameStop speculation can make you a lot of money and they are on life support
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Yes, I’m aware of that entire saga and the forces behind it. The sheer nonsense that is today’s stock market will never fail to impress me.
 
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