Economics Thread

Jaw said:
Heck of an economy the American Fuhrer had going when China's poor hygiene created a pandemic. Heck of an economy.
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It's not difficult to throw a heck of a party by blowing a $500 billion hole in the budget. Deficit went up from 600 billion to 1.1 trillion (pre-covid) on his watch. I think when economic historians look back at that they will conclude the bang for the buck was not so impressive.

But I do think there was one thing we learned which hopefully will be replicated. A high pressure, low unemployment rate economy is very good for people in the lower quartile. It isn't rocket science and we kind of knew that before. But the Trump years really put a spotlight on that.
 
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nsacpi said:
It's not difficult to throw a heck of a party by blowing a $500 billion hole in the budget. Deficit went up from 600 billion to 1.1 trillion (pre-covid) on his watch. I think when economic historians look back at that they will conclude the bang for the buck was not so impressive.

But I do think there was one thing we learned which hopefully will be replicated. A high pressure, low unemployment rate economy is very good for people in the lower quartile. It isn't rocket science and we kind of knew that before. But the Trump years really put a spotlight on that.
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His tax cut for the wealthy was my least favorite policy decision of his presidency. I'm all for jacking that rate up sky high for the obscenely wealthy and eliminating it for everyone else. People seem to have forgotten that that is how federal income taxes were envisioned and sold to the people. We've allowed that crowd to spend too much would be tax money to buy politicians instead, and here we are.

Still, as you said, his economy was better for the lower income earners than anyone else's has been in a very long time.
 
Jaw said:
His tax cut for the wealthy was my least favorite policy decision of his presidency. I'm all for jacking that rate up sky high for the obscenely wealthy and eliminating it for everyone else. People seem to have forgotten that that is how federal income taxes were envisioned and sold to the people. We've allowed that crowd to spend too much would be tax money to buy politicians instead, and here we are.

Still, as you said, his economy was better for the lower income earners than anyone else's has been in a very long time.
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Infrastructure has become a kind of joke. But the return on infrastructure investment is quite good. Substitute a robust infrastructure investment program for tax cuts for the rich, and you're cooking with gas. You juice the economy and get a good long-term return.
 
Robert Reich
@RBReich
·
Dec 3
Let me get this straight: We can afford to bail out airlines that

have spent 96% of their cash flow on stock buybacks over the last decade,

but can’t afford to extend unemployment benefits for

working people during an economic catastrophe?
 
Paul is a kook. Of course you can print infinite amounts of money and face no consequences like record asset prices and gold prices and housing prices and Healthcare prices and education prices and...
 
Paul and his followers have been saying for quite a while now that Fed policy will lead to debasement of the dollar and high inflation. Still waiting. Maybe someday.

Since that exchange with Bernanke, consumer prices have gone up less than 2% per year. The Fed keeps missing its inflation target to the low side. Not seeing any "massive inflation tax." Most central banks the past two decades have been more worried about deflation than inflation.
 
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35% of money has been created in 2020.

But nsacpi assures me this doesn't delete the value of the currency.

And he has only been wrong about everything...
 
sturg33 said:
US dollar has lost 99.5% of its value over last 60 years...

But the board lecturer assures me there is no inflation lol
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Inflation has been low for decades now. It was higher in the 1970s and 1980s. But the economy and monetary policy were different then. I suppose the policies the Fed is currently pursuing might cause inflation. But they haven't so far. And it seems to me they are unlikely to.
 
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