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The Real Reason the Economy Might Collapse
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Oct 13, 2021 16:03:31   #
Sonny Magoo Loc: Where pot pie is boiled in a kettle
 
dtucker300 wrote:
"Skyrocketing wealth ine******y isn’t just wrong. It’s also weakening our economy."

Why is it wrong? How?

"70 percent of the US economy depends on consumer spending. So American consumers need to spend enough money to buy most of the goods and services Americans are capable of producing."
The economy depends not on consumerism, it depends on product production. If products are not produced they can't be bought. Right now, inflation is increasing because there are more dollars (thanks to the Democrats giveaways) than there are goods to meet the demand.

This means that over the long term their incomes need to keep pace with their productivity. As productivity becomes more efficient, goods become less expensive. Case in point, Computers.

"But their incomes haven’t. Over the past 40 years, most people’s wages have basically stagnated , while worker productivity has soared."

Democrat Party policies have been responsible for most of this. They've demolished the middle class, destroyed union jobs, and sent industrial production to foreign countries. The largest unions are now Public Employees. College degrees are worthless because you can now get your degree in Gay G****r Studies in the Medieval Period. They destroyed energy production and stifled business with overreaching environmental regulations instead of common sense solutions. One other note; people live longer and more comfortably than ever. Today's citizen lives better than the Kings and Queens or the wealthiest person of 100 years ago.

"Where did the economic gains go? Mostly to the top. The wealthy now own more of the economy than at any time since the 1920s."

Economic gain didn't go to the wealthy. The wealthy put money back into businesses, charity, investments, entrepreneurial ventures, and R&D. Much of the gains he speaks of went to the government in the form of more taxes to support more Democratic Party pipe dream giveaway programs. In other words, wasted, due to central planning, like a socialist state.

"Here’s the economic problem: The wealthy spend only a small percentage of their income and wealth. Their spending is not enough to fulfill the consumer demand that keeps the economy churning."

What does he think the wealthy do with the rest of their wealth? Hide it under their mattress like a Silas Mariner? Consumer demand does not drive the economy nearly as much as the Production and Development of new products to make life better. We export less than we import. Obviously, there is a demand for imported products

"Lower-income people, on the other hand, spend almost everything they have – which is becoming very little. Most workers aren’t earning nearly enough to buy what the economy is capable of producing."

They do, however, live better than any generation before them and have a better standard of living. healthcare, and life expectancy than the wealthiest people had 100 years ago. Why should workers be able to buy 'everything' the economy produces. Economics involves trade-offs because resources are limited. As Mick Jagger said, "You can't always get what you want, but you just might get what you need."

"The result is a gap between potential output and potential consumption."

That's a pretty dumb statement. There's a real gap between Robert Reich's potential intelligence and real intelligence. Why do you read his nonsense? Because you can't discern between l*****t garbage and how the real world works." L*****ts think they can devise a system in which they can alter Human Nature. They can't! The framers of our Constitution understood this better than anyone.

"To fill the gap, the economy depends on people going deeper and deeper into debt so they can buy. Even in 2018, when the economy appeared strong, 40% of Americans had negative net incomes and were borrowing money to pay for basic household needs."

No, it doesn't. Live within your means. The government needs to learn this lesson also because they have amassed greater debt than all the consumer debt combined. Politicians must really h**e children to leave this crushing debt burden to them. Now, I'll admit that there are some people who through no fault of their own (Usually it's the result of government policies), who can't make ends meet and need help. We have hundreds of government programs to assist these people. However, there are givers and takers and the takers have figured out how to use and l**t the system for their own selfish ends. Why is it that every poor person I see, (not the mentally ill living on the streets) has a cell phone? Is a cell phone a basic household necessity? Okay, how about cable TV? And there are many other examples. Most people need a car to go to and from work but the Biden economic and energy program has caused gasoline prices to skyrocket. Who gets hurt the most by this? The working poor. Their situation improved better with Trump's policies than with any other administration in the past 60 years. Even LBJ's 'Great Society' started the disintegration of the nuclear family and began making people dependent on the government.

"The Fed has had to keep short-term interest rates lower and lower to accommodate this buying. And the government has to spend more and more to fill the remaining gap."

The Federal Reserve answers to no one. All of its' members come from banking and Wall Street financial institutions. As I mentioned earlier, because of quantitative easing there are more dollars chasing fewer goods because people were unwilling to go back to work when they could stay at home and get free money from the government. There is no such thing as a free lunch. Every industry has labor shortages, not due to a decrease in the labor force but because of unavailable workers, 5 million people, who stopped working since the c***d p******c started and decided to stay home to collect government benefits. They could fill these jobs. Even McDonald's can't fill positions and is offering bonuses for just coming in for a job interview.

'None of this is sustainable. At some point, widening ine******y causes the economy to collapse."

Reich throws around all these nuggets of what he thinks is conventional wisdom. His statements are not wisdom at all. He never explains why he believes this to be true. He says it, you're supposed to believe it, because he is the mighty and powerful OZ.


"We’ve seen this before. Years ago, Marriner Eccles, chairman of the Federal Reserve from 1934 to 1948, explained that the Great Depression occurred because the buying power of most Americans fell far short of what the economy was producing."

The great depression was caused because of the over-extension of easy credit and lending without secure collateral. The buying power was curtailed because businesses dried up when there was no money left to fuel the speculative boom. We did the same thing in 2008 with the housing because the leaders in the Democratic Party thought everyone should be able to buy a house, just as in the 1920s people believed everyone could become rich. Easy money makes people lazy and they speculate on potential future gains. Government policies were the problem. Unintended outcomes from these policies were the problem. Then the Politicians come and say "V**e for us and we can save you." Only, they make it worse with more unintended and unforeseen consequences

"He blamed the increasing concentration of wealth at the top: “A giant suction pump had by 1929-1930 drawn into a few hands an increasing portion of currently produced wealth. As in a poker game where the chips were concentrated in fewer and fewer hands, the other fellows could stay in the game only by borrowing. When their credit ran out, the game stopped.”"

Why would any sane person join a high-stakes poker game without an adequate bankroll to back them? Getting and giving credit is a risk. Why would anyone want to borrow on credit for such a foolish risk?

"While the wealthy of the 1920s didn’t know what to do with all their money, most Americans could maintain their standard of living only by going into debt. When that debt bubble burst, the economy tanked."

Speculation and borrowing on margin by greedy people made the system collapse. That takes down the innocent bystanders also.

"Fast forward 100 years and we see the same pattern. While the typical Americans’ wages have barely budged for decades, adjusted for inflation, most economic gains have gone to the top, just as Eccles’s so-called “giant suction pump” drew an increasing portion of the nation’s wealth into a few hands before the Great Depression."

Yes, we see the same pattern but the reasons are all wrong as I have already stated

"The result has been an economy whose underlying structure is far more fragile than it may seem."

Absolutely. So why should we trust the government to fix this when they are at the root of most problems and then only make them worse? The federal debt is the highest it has ever been in peacetime, only surpassed by the debt after the end of WWII. Increasing the debt is insanity and will destroy this country. Exactly what the left wants to do.

"Remember the housing and financial bubbles that burst in 2008? We avoided another Great Depression then only because the government pumped enough money into the economy to maintain demand, and the Fed kept interest rates near zero. Then came the p******c."

2008 resulted in a lot of people losing their homes and leaving more people worse off than before the housing bubble. All of that could have been avoided if common fiscal and monetary sense had been practiced. I***ts like Barney Frank and the Democrats were largely responsible because they don't understand economics.

"The Fed has had to keep interest rates near zero. And the government has had to pump even more money into the economy. While these programs have been crucial to staving off a p******c-induced depression, they’re only temporary."

And the current administration have no basic understanding of economics. I can't think of one person in the Biden Administration, including Schumer and Pelosi, who have ever been in private enterprise. Biden had 47 years to fix this when he was in the Senate. Schumer went straight from law school to elected office. These clowns have never had to build anything. They live off the sweet of hard-working Americans and leave the government richer than what they could possibly have earned from their salaries.

"Over the long term, the real worry continues to be on the demand side. Widening ine******y means not enough demand."

Currently, the problem is too much demand. Too many plentiful dollars chasing after too few goods because of production and supply problems that cheap government money created. Next, the problem will become too much inflation, debt, and high taxes.

"America’s wealth gap is now more extreme than it’s been in over a century. Until this structural problem is remedied, the American economy will remain perilously fragile."

It will remain perilously fragile as long as the Democrats keep promising more and more benefits without any way to pay for it. George W. Bush was just as responsible for putting us in military conflicts without having the American people sacrifice something in order to fund it. Higher taxes are not the solution to the problem of a government and administrative state that has grown exponentially since the Marxist Progressives have tried to change our Constitutional republic into a welfare state

"It will also be vulnerable to the next demagogue wielding anger, r****m, and resentment as substitutes for real reform."

That's exactly what we have in the Biden Admin. A stooge for the American Marxists who want to destroy this country by fundamentally changing it. The left and their B*M and A****a allies are the demagogue r****ts.

"Closing our staggering wealth gap is crucial to the survival of both our economy and our democracy."

Yes, it is. However, he hasn't a clue as to what works and what doesn't. He's a theoretician. We may as well have Karl Marx advising us what to do. As Forrest Gump says, "Stupid is as stupid does."

https://www.youtube.com/watch?v=iNLOdRMgaDY&feature=emb_rel_end
"Skyrocketing wealth ine******y isn’t just wr... (show quote)


Great rebuttal.
...and you didn't just copy and paste

Reply
Oct 13, 2021 16:18:10   #
woodguru
 
Milosia2 wrote:
The Real Reason the Economy Might Collapse
Robert Reich

Economic Policy | Wealth Ine******y
by Robert Reich | October 11, 2021 - 6:49am




Skyrocketing wealth ine******y isn’t just wrong. It’s also weakening our economy.

70 percent of the US economy depends on consumer spending. So American consumers need to spend enough money to buy most of the goods and services Americans are capable of producing.

This means that over the long term their incomes need to keep pace with their productivity.

But their incomes haven’t. Over the past 40 years, most people’s wages have basically stagnated , while worker productivity has soared.

Where did the economic gains go? Mostly to the top. The wealthy now own more of the economy than at any time since the 1920s.



Here’s the economic problem: The wealthy spend only a small percentage of their income and wealth. Their spending is not enough to fulfill the consumer demand that keeps the economy churning.

Lower-income people, on the other hand, spend almost everything they have – which is becoming very little. Most workers aren’t earning nearly enough to buy what the economy is capable of producing.

The result is a gap between potential output and potential consumption.

To fill the gap, the economy depends on people going deeper and deeper into debt so they can buy. Even in 2018, when the economy appeared strong, 40% of Americans had negative net incomes and were borrowing money to pay for basic household needs.

The Fed has had to keep short-term interest rates lower and lower to accommodate this buying. And the government has to spend more and more to fill the remaining gap.

None of this is sustainable. At some point, widening ine******y causes the economy to collapse.

We’ve seen this before. Years ago, Marriner Eccles, chairman of the Federal Reserve from 1934 to 1948, explained that the Great Depression occurred because the buying power of most Americans fell far short of what the economy was producing.

He blamed the increasing concentration of wealth at the top: “A giant suction pump had by 1929-1930 drawn into a few hands an increasing portion of currently produced wealth. As in a poker game where the chips were concentrated in fewer and fewer hands, the other fellows could stay in the game only by borrowing. When their credit ran out, the game stopped.”

While the wealthy of the 1920s didn’t know what to do with all their money, most Americans could maintain their standard of living only by going into debt. When that debt bubble burst, the economy tanked.

Fast forward 100 years and we see the same pattern. While the typical Americans’ wages have barely budged for decades, adjusted for inflation, most economic gains have gone to the top, just as Eccles’s so-called “giant suction pump” drew an increasing portion of the nation’s wealth into a few hands before the Great Depression.

The result has been an economy whose underlying structure is far more fragile than it may seem.

Remember the housing and financial bubbles that burst in 2008? We avoided another Great Depression then only because the government pumped enough money into the economy to maintain demand, and the Fed kept interest rates near zero. Then came the p******c.

The Fed has had to keep interest rates near zero. And the government has had to pump even more money into the economy. While these programs have been crucial to staving off a p******c-induced depression, they’re only temporary.

Over the long term, the real worry continues to be on the demand side. Widening ine******y means not enough demand.

America’s wealth gap is now more extreme than it’s been in over a century. Until this structural problem is remedied, the American economy will remain perilously fragile.

It will also be vulnerable to the next demagogue wielding anger, r****m, and resentment as substitutes for real reform.

Closing our staggering wealth gap is crucial to the survival of both our economy and our democracy.

https://www.youtube.com/watch?v=iNLOdRMgaDY&feature=emb_rel_end
The Real Reason the Economy Might Collapse br Robe... (show quote)


That was far too logical for the feeble minded right...10% of what goes to the top and corporations would give middle class people a five to ten dollar an hour raise, which would be spent.

Reply
Oct 13, 2021 16:23:24   #
woodguru
 
Ronald Hatt wrote:
The real reason our Economy might collapse: Demoncrat party mishandling of "EVERYTHING"!

*DEMONCRATS are putting more money in their pockets, than the national Treasury!...{ FACT!!!! {


Of course trump did everything right, such as his i***tic trade war crap that caused him to spend tens of billions of dollars trying to bail out wealthy farmers and ranchers.

Or adding trillions to the debt and hundreds of billions a year to the deficit.

Because you call your drivel { FACT!!!! { does not make it so

Reply
 
 
Oct 13, 2021 19:12:59   #
son of witless
 
Milosia2 wrote:
The Real Reason the Economy Might Collapse
Robert Reich

Economic Policy | Wealth Ine******y
by Robert Reich | October 11, 2021 - 6:49am




Skyrocketing wealth ine******y isn’t just wrong. It’s also weakening our economy.

70 percent of the US economy depends on consumer spending. So American consumers need to spend enough money to buy most of the goods and services Americans are capable of producing.

This means that over the long term their incomes need to keep pace with their productivity.

But their incomes haven’t. Over the past 40 years, most people’s wages have basically stagnated , while worker productivity has soared.

Where did the economic gains go? Mostly to the top. The wealthy now own more of the economy than at any time since the 1920s.



Here’s the economic problem: The wealthy spend only a small percentage of their income and wealth. Their spending is not enough to fulfill the consumer demand that keeps the economy churning.

Lower-income people, on the other hand, spend almost everything they have – which is becoming very little. Most workers aren’t earning nearly enough to buy what the economy is capable of producing.

The result is a gap between potential output and potential consumption.

To fill the gap, the economy depends on people going deeper and deeper into debt so they can buy. Even in 2018, when the economy appeared strong, 40% of Americans had negative net incomes and were borrowing money to pay for basic household needs.

The Fed has had to keep short-term interest rates lower and lower to accommodate this buying. And the government has to spend more and more to fill the remaining gap.

None of this is sustainable. At some point, widening ine******y causes the economy to collapse.

We’ve seen this before. Years ago, Marriner Eccles, chairman of the Federal Reserve from 1934 to 1948, explained that the Great Depression occurred because the buying power of most Americans fell far short of what the economy was producing.

He blamed the increasing concentration of wealth at the top: “A giant suction pump had by 1929-1930 drawn into a few hands an increasing portion of currently produced wealth. As in a poker game where the chips were concentrated in fewer and fewer hands, the other fellows could stay in the game only by borrowing. When their credit ran out, the game stopped.”

While the wealthy of the 1920s didn’t know what to do with all their money, most Americans could maintain their standard of living only by going into debt. When that debt bubble burst, the economy tanked.

Fast forward 100 years and we see the same pattern. While the typical Americans’ wages have barely budged for decades, adjusted for inflation, most economic gains have gone to the top, just as Eccles’s so-called “giant suction pump” drew an increasing portion of the nation’s wealth into a few hands before the Great Depression.

The result has been an economy whose underlying structure is far more fragile than it may seem.

Remember the housing and financial bubbles that burst in 2008? We avoided another Great Depression then only because the government pumped enough money into the economy to maintain demand, and the Fed kept interest rates near zero. Then came the p******c.

The Fed has had to keep interest rates near zero. And the government has had to pump even more money into the economy. While these programs have been crucial to staving off a p******c-induced depression, they’re only temporary.

Over the long term, the real worry continues to be on the demand side. Widening ine******y means not enough demand.

America’s wealth gap is now more extreme than it’s been in over a century. Until this structural problem is remedied, the American economy will remain perilously fragile.

It will also be vulnerable to the next demagogue wielding anger, r****m, and resentment as substitutes for real reform.

Closing our staggering wealth gap is crucial to the survival of both our economy and our democracy.

https://www.youtube.com/watch?v=iNLOdRMgaDY&feature=emb_rel_end
The Real Reason the Economy Might Collapse br Robe... (show quote)


Anything to shift the blame for the economy away from Joe the I***t. Robert Reich is even more stupid that Biden and Harris, and that is hard to do.

Reply
Oct 13, 2021 19:14:30   #
son of witless
 
woodguru wrote:
Of course trump did everything right, such as his i***tic trade war crap that caused him to spend tens of billions of dollars trying to bail out wealthy farmers and ranchers.

Or adding trillions to the debt and hundreds of billions a year to the deficit.

Because you call your drivel { FACT!!!! { does not make it so


Interesting how Joe the i***t is keeping many of Trump's policies towards China.

Reply
Oct 13, 2021 19:57:23   #
martsiva
 
Milosia2 wrote:
The Real Reason the Economy Might Collapse
Robert Reich

Economic Policy | Wealth Ine******y
by Robert Reich | October 11, 2021 - 6:49am




Skyrocketing wealth ine******y isn’t just wrong. It’s also weakening our economy.

70 percent of the US economy depends on consumer spending. So American consumers need to spend enough money to buy most of the goods and services Americans are capable of producing.

This means that over the long term their incomes need to keep pace with their productivity.

But their incomes haven’t. Over the past 40 years, most people’s wages have basically stagnated , while worker productivity has soared.

Where did the economic gains go? Mostly to the top. The wealthy now own more of the economy than at any time since the 1920s.



Here’s the economic problem: The wealthy spend only a small percentage of their income and wealth. Their spending is not enough to fulfill the consumer demand that keeps the economy churning.

Lower-income people, on the other hand, spend almost everything they have – which is becoming very little. Most workers aren’t earning nearly enough to buy what the economy is capable of producing.

The result is a gap between potential output and potential consumption.

To fill the gap, the economy depends on people going deeper and deeper into debt so they can buy. Even in 2018, when the economy appeared strong, 40% of Americans had negative net incomes and were borrowing money to pay for basic household needs.

The Fed has had to keep short-term interest rates lower and lower to accommodate this buying. And the government has to spend more and more to fill the remaining gap.

None of this is sustainable. At some point, widening ine******y causes the economy to collapse.

We’ve seen this before. Years ago, Marriner Eccles, chairman of the Federal Reserve from 1934 to 1948, explained that the Great Depression occurred because the buying power of most Americans fell far short of what the economy was producing.

He blamed the increasing concentration of wealth at the top: “A giant suction pump had by 1929-1930 drawn into a few hands an increasing portion of currently produced wealth. As in a poker game where the chips were concentrated in fewer and fewer hands, the other fellows could stay in the game only by borrowing. When their credit ran out, the game stopped.”

While the wealthy of the 1920s didn’t know what to do with all their money, most Americans could maintain their standard of living only by going into debt. When that debt bubble burst, the economy tanked.

Fast forward 100 years and we see the same pattern. While the typical Americans’ wages have barely budged for decades, adjusted for inflation, most economic gains have gone to the top, just as Eccles’s so-called “giant suction pump” drew an increasing portion of the nation’s wealth into a few hands before the Great Depression.

The result has been an economy whose underlying structure is far more fragile than it may seem.

Remember the housing and financial bubbles that burst in 2008? We avoided another Great Depression then only because the government pumped enough money into the economy to maintain demand, and the Fed kept interest rates near zero. Then came the p******c.

The Fed has had to keep interest rates near zero. And the government has had to pump even more money into the economy. While these programs have been crucial to staving off a p******c-induced depression, they’re only temporary.

Over the long term, the real worry continues to be on the demand side. Widening ine******y means not enough demand.

America’s wealth gap is now more extreme than it’s been in over a century. Until this structural problem is remedied, the American economy will remain perilously fragile.

It will also be vulnerable to the next demagogue wielding anger, r****m, and resentment as substitutes for real reform.

Closing our staggering wealth gap is crucial to the survival of both our economy and our democracy.

https://www.youtube.com/watch?v=iNLOdRMgaDY&feature=emb_rel_end
The Real Reason the Economy Might Collapse br Robe... (show quote)


You need to do more research! The Fed, itself, caused the Great Depression which Ben Bernanke admitted!

Reply
Oct 13, 2021 20:08:13   #
martsiva
 
Milosia2 wrote:
How does Forrest Gump plan to fix the things listed that you just explained away ?
I might be able to agree with what you say but it’s mostly rhetoric and hyperbole.
There were no answers for any of it.
This is the proper representation of the so called Republican Party, no answers for anything.
Just Nein ! Nein ! Nein ! Nein ! Nein ! Nein !
Nein !!!!!!!!!
After which they say,
They are Patriots, they love America , they support everything to make this country better, the American people were stupid for not electing a past president who was impeached twice, has numerous violations on file ready for court time,
lied over 30,000 times to the American People, tried to install his sister wife Ivanka as the head of the Treasury,
I’m stopping here , but, you get the picture, right ?
Who would want trump back, even for dinner ?
How does Forrest Gump plan to fix the things liste... (show quote)


So you are denying that the economy is better under Biden than it was under Trump?? And the answers are socialism that the Democrats support?? The answer is that hard working Americans are to give part of what they work for to those who are capable to work but would rather just take from those who do work??Can you answer??

Reply
 
 
Oct 13, 2021 20:09:43   #
dtucker300 Loc: Vista, CA
 
Milosia2 wrote:
How does Forrest Gump plan to fix the things listed that you just explained away ?
I might be able to agree with what you say but it’s mostly rhetoric and hyperbole.
There were no answers for any of it.
This is the proper representation of the so called Republican Party, no answers for anything.
Just Nein ! Nein ! Nein ! Nein ! Nein ! Nein !
Nein !!!!!!!!!
After which they say,
They are Patriots, they love America , they support everything to make this country better, the American people were stupid for not electing a past president who was impeached twice, has numerous violations on file ready for court time,
lied over 30,000 times to the American People, tried to install his sister wife Ivanka as the head of the Treasury,
I’m stopping here , but, you get the picture, right ?
Who would want trump back, even for dinner ?
How does Forrest Gump plan to fix the things liste... (show quote)


Who are they? I never said any of those things. There is one great big answer to everything that you failed to see or understand; Reinstitute the constitutional republic and reduce the size and scope of government to get it out of everyone's private business. Can you not Read!? Sheesh!

What the hell is a sister-wife? How many lies has Biden told the American people in the 48 years he has been in public office(Not all lies are equal and Bidens are whoppers)? Unless I missed something Trump was never convicted during the impeachments. Numerous violations on file for court time; What are they waiting for?

[b]Your problem is you just h**e Trump the Person, because of what he says and tweets, and you can't see beyond that for the good he did and how his policies helped the average American. Biden on the other hand has made a cluster-Eff of everything he does and touches. In less than 9 months he has sent our economy spiraling out of control and it will only get worse. The Democratic Party has been overtaken by forces of demonic and devious conniving evil! I can only surmise that most Biden v**ers/supporters are either not aware of how the Democratic party is destroying this country, or they are too busy trying to earn a living and not aware of what is happening, or they are just plain stupid. The l*****ts fall into the latter category.

You seem to be educated enough to understand what is happening, so what is your excuse?

Reply
Oct 13, 2021 20:16:23   #
dtucker300 Loc: Vista, CA
 
Milosia2 wrote:
Jude Waniskey-
The 2 Santa Claus Theory .
Read it on Google.
It explains to a tee everything youz keep trying to sell.
The republicans are not the fiscally responsible party. They can’t even v**e yes on paying their own bills from the last failed presidency by raising the debt ceiling.
That is Not being Fiscally responsible .


You keep going back to the Two Santa Clause theory. How many times are you going to bring out that tiresome diatribe? That seems to be the only thing you have. There's plenty of blame to go around for both parties. I dislike McConnell and the establishment RINOs because they are just as responsible. They tried to sabotage the Tea Party candidates. However, I absolutely abhor and despise the Democratic Party leadership. Pelosi, Schumer, Biden, and the rest are EVIL! I used to be a Democrat. I didn't leave the party. It left me. I'm now a non-partisan Independent. But if I had to choose between the lesser of two evils, it is hands down the Republicans over the Democrats. At least there are a few Republicans who believe in America, The Constitutional Republic, the rule of law, and free enterprise.

Reply
Oct 13, 2021 20:19:20   #
dtucker300 Loc: Vista, CA
 
son of witless wrote:
Interesting how Joe the i***t is keeping many of Trump's policies towards China.



Ask The Democrats how they feel about the surcharges Biden has imposed on Chinese imports.

Reply
Oct 13, 2021 21:10:15   #
dtucker300 Loc: Vista, CA
 
Milosia2 wrote:
Jude Waniskey-
The 2 Santa Claus Theory .
Read it on Google.
It explains to a tee everything youz keep trying to sell.
The republicans are not the fiscally responsible party. They can’t even v**e yes on paying their own bills from the last failed presidency by raising the debt ceiling.
That is Not being Fiscally responsible .


Milosia, educate yourself. Read!

Democrats’ Inflation Hurricane
Posted Wednesday, October 13, 2021 | By AMAC, Robert B. Charles

Brace for heavy weather. Biden and Democrats are driving inflation to hurricane levels. In 2018, the annual inflation rate was 1.9 percent. In 2021, the annual inflation rate is 5.3 percent. It is about to rip shingles off personal budgets, especially for those on fixed incomes, with credit card, mortgage, or variable interest debt. Why? See, e.g., Current US Inflation Rates: 2000-2021. https://www.usinflationcalculator.com/inflation/current-inflation-rates/

Three reasons explain why inflation is about to get worse, not better.

First, Democrats’ excessive federal spending is unaffordable. Driven by v**e-chasing, irresponsible fiscal stewardship, and one-party control over House, Senate, and White House, Democrat spending is effectively unchecked. Trillions more are coming if Democrats get their way. Beyond the current fracas over how to twist “reconciliation” to get v**es needed down to 51, intimidate the parliamentarian, jam two bills totaling $4.7 trillion through both chambers, Democrats are likely to continue spending. See, e.g., $3.5 Trillion Is a Phony Number. https://www.wsj.com/articles/3-5-trillion-is-a-phony-number-democrats-spending-bill-entitlements-joe-biden-11632425260

Above and beyond this wild, supplemental, “non-regular order” spending in the fiscal year 2022, more can be expected. While passage of either the $1.2 trillion “infrastructure” bill or $3.5 trillion “human infrastructure” (or “Build Back Better”) bill – or both – will quicken inflation, more can be expected.

No one is talking about this, but after December 3, a continuing resolution runs out, and Congress will likely pass an “omnibus bill,” capturing in one bill the unfinished and delayed “regular order” process for funding programs until October 2022.

Into that “omnibus bill,” or emergency legislation passed at the same time, Democrats may push other spending. Specifically, as the “delta variant” of C***D continues, and Democrat mandates shutter businesses, an excuse may be made for more C***D relief spending.

In addition, on December 31, many current provisions end, including the payroll tax deferral, employee retention credit, enhanced child tax credit, tax extenders, emergency disaster loans, and various medical and fiscal checks, which could be suspended by Democrats. All of this produces increased spending.

Second, Democrats’ anti-energy independence hurts. Energy costs are soaring – because Biden and the Democrats shut down, penalized, and disincentivized US energy independence while proving unable to lower the international cost of oil through diplomacy. See, e.g., OPEC+ Predictably Rejects Biden Plea For More Oil Production.
https://www.forbes.com/sites/davidblackmon/2021/08/17/opec-predictably-rejects-biden-plea-for-more-oil-production/?sh=45fcfc052acd

The result has been both predictable and devastating. Oil is now at a near-record high, impairing Americans at the gas pump and suggesting oil shortages and sky-high fuel costs for winter heat. See, e.g., Oil hits $80 per barrel a seven year high; Biden Caught Flatfooted By Skyrocketing Oil Prices. https://www.forbes.com/sites/daneberhart/2021/10/04/biden-caught-flatfooted-by-skyrocketing-oil-prices/?sh=142ea46966cf

As the US energy sector shrinks, consolidates, tries to survive, Biden and Democrats pursue the wishful idea that multi-decade build-out costs for wind, sun, and other renewable power generation will magically compensate for non-production, create jobs as fast as destroying them, and keep costs low. That is worse than miscalculation – it is pure, unadulterated fiction.

The t***h is that Biden and Democrats are destroying the US energy sector, chasing energy unicorns as they k**l horsepower that runs the US economy, US cars, trucks, buses, trains, planes, and production – not to mention economically keeping Americans warm in cold winter months. The result is a double hit that will raise consumer costs. They will wipe out a sector’s employment while causing consumers to pay more for what that sector used to produce – and from foreign sources. See, e.g., About Joe’s Energy Jobs; Gas Prices Surge as Biden Targets U.S. Oil Production; Biden’s assault on oil and gas industry threatens jobs, energy security.
https://www.wsj.com/articles/about-joes-energy-jobs-11598310676
https://www.wicker.senate.gov/2021/8/wicker-biden-undermines-u-s-energy-independence
https://www.theadvertiser.com/story/opinion/2021/02/03/bidens-assault-oil-and-gas-industry-threatens-jobs-energy-security/4355071001/

Third, Democrats’ anti-business policies raise prices. As the Biden White House and Democrats push hard-to-meet mandates on businesses nationwide, provide cash and non-cash benefits rewarding non-work, and excuse increased dependence on the government, the effect is business cuts and closures.

Business cuts and closures come with obvious effects, including lower employment (already starting to show up in the numbers), lower consumption, higher costs for what we are producing less of, supply chain disruptions within and across economic sectors, increased foreign dependence (since we have less of what would be produced domestically), and reduced consumer confidence. The big effect is less work and income trying to buy less available goods and services at higher prices.

Even mainstream media are being forced to report that the economy is headed lower, prices higher, and rosy Democrat projections are simply not bearing up. See, e.g., Employers add a dismal 194,000 jobs in September, unemployment rate at 4.8%; Buckle Up: 3 Reasons Why Inflation Is Rising.
https://abcnews.go.com/Business/employers-add-dismal-194000-jobs-september-unemployment-rate/story?id=80464069
https://www.forbes.com/sites/mikepatton/2021/06/10/buckle-up-3-reasons-why-inflation-is-rising/?sh=3872825a2f80

Where does all this excess spending, anti-energy independence (affecting all sectors), and anti-business sentiment lead? Until fiscal restraint returns, program cuts match revenues, mandates come off, taxes come down, and free enterprise, job creation, and investment are respected – no place good.

In short, brace for heavy weather. Biden and Democrats are driving inflation to hurricane levels, spending like a wind machine, toppling pillars of the US energy sector, hampering the production of goods and services, creating an imbalance between supply and demand, sure to whip up the winds of inflation.

Reply
 
 
Oct 13, 2021 23:35:02   #
jack sequim wa Loc: Blanchard, Idaho
 
Milosia2 wrote:
The Real Reason the Economy Might Collapse
Robert Reich

Economic Policy | Wealth Ine******y
by Robert Reich | October 11, 2021 - 6:49am




Skyrocketing wealth ine******y isn’t just wrong. It’s also weakening our economy.

70 percent of the US economy depends on consumer spending. So American consumers need to spend enough money to buy most of the goods and services Americans are capable of producing.

This means that over the long term their incomes need to keep pace with their productivity.

But their incomes haven’t. Over the past 40 years, most people’s wages have basically stagnated , while worker productivity has soared.

Where did the economic gains go? Mostly to the top. The wealthy now own more of the economy than at any time since the 1920s.



Here’s the economic problem: The wealthy spend only a small percentage of their income and wealth. Their spending is not enough to fulfill the consumer demand that keeps the economy churning.

Lower-income people, on the other hand, spend almost everything they have – which is becoming very little. Most workers aren’t earning nearly enough to buy what the economy is capable of producing.

The result is a gap between potential output and potential consumption.

To fill the gap, the economy depends on people going deeper and deeper into debt so they can buy. Even in 2018, when the economy appeared strong, 40% of Americans had negative net incomes and were borrowing money to pay for basic household needs.

The Fed has had to keep short-term interest rates lower and lower to accommodate this buying. And the government has to spend more and more to fill the remaining gap.

None of this is sustainable. At some point, widening ine******y causes the economy to collapse.

We’ve seen this before. Years ago, Marriner Eccles, chairman of the Federal Reserve from 1934 to 1948, explained that the Great Depression occurred because the buying power of most Americans fell far short of what the economy was producing.

He blamed the increasing concentration of wealth at the top: “A giant suction pump had by 1929-1930 drawn into a few hands an increasing portion of currently produced wealth. As in a poker game where the chips were concentrated in fewer and fewer hands, the other fellows could stay in the game only by borrowing. When their credit ran out, the game stopped.”

While the wealthy of the 1920s didn’t know what to do with all their money, most Americans could maintain their standard of living only by going into debt. When that debt bubble burst, the economy tanked.

Fast forward 100 years and we see the same pattern. While the typical Americans’ wages have barely budged for decades, adjusted for inflation, most economic gains have gone to the top, just as Eccles’s so-called “giant suction pump” drew an increasing portion of the nation’s wealth into a few hands before the Great Depression.

The result has been an economy whose underlying structure is far more fragile than it may seem.

Remember the housing and financial bubbles that burst in 2008? We avoided another Great Depression then only because the government pumped enough money into the economy to maintain demand, and the Fed kept interest rates near zero. Then came the p******c.

The Fed has had to keep interest rates near zero. And the government has had to pump even more money into the economy. While these programs have been crucial to staving off a p******c-induced depression, they’re only temporary.

Over the long term, the real worry continues to be on the demand side. Widening ine******y means not enough demand.

America’s wealth gap is now more extreme than it’s been in over a century. Until this structural problem is remedied, the American economy will remain perilously fragile.

It will also be vulnerable to the next demagogue wielding anger, r****m, and resentment as substitutes for real reform.

Closing our staggering wealth gap is crucial to the survival of both our economy and our democracy.

https://www.youtube.com/watch?v=iNLOdRMgaDY&feature=emb_rel_end
The Real Reason the Economy Might Collapse br Robe... (show quote)




What's happening now isn't Republican or Democrat, it's the elite wiping out everything but the elite. All small businesses going, going, gone.

Reply
Oct 14, 2021 00:41:56   #
Radiance3
 
Milosia2 wrote:
The Real Reason the Economy Might Collapse
Robert Reich

Economic Policy | Wealth Ine******y
by Robert Reich | October 11, 2021 - 6:49am




Skyrocketing wealth ine******y isn’t just wrong. It’s also weakening our economy.

70 percent of the US economy depends on consumer spending. So American consumers need to spend enough money to buy most of the goods and services Americans are capable of producing.

This means that over the long term their incomes need to keep pace with their productivity.

But their incomes haven’t. Over the past 40 years, most people’s wages have basically stagnated , while worker productivity has soared.

Where did the economic gains go? Mostly to the top. The wealthy now own more of the economy than at any time since the 1920s.



Here’s the economic problem: The wealthy spend only a small percentage of their income and wealth. Their spending is not enough to fulfill the consumer demand that keeps the economy churning.

Lower-income people, on the other hand, spend almost everything they have – which is becoming very little. Most workers aren’t earning nearly enough to buy what the economy is capable of producing.

The result is a gap between potential output and potential consumption.

To fill the gap, the economy depends on people going deeper and deeper into debt so they can buy. Even in 2018, when the economy appeared strong, 40% of Americans had negative net incomes and were borrowing money to pay for basic household needs.

The Fed has had to keep short-term interest rates lower and lower to accommodate this buying. And the government has to spend more and more to fill the remaining gap.

None of this is sustainable. At some point, widening ine******y causes the economy to collapse.

We’ve seen this before. Years ago, Marriner Eccles, chairman of the Federal Reserve from 1934 to 1948, explained that the Great Depression occurred because the buying power of most Americans fell far short of what the economy was producing.

He blamed the increasing concentration of wealth at the top: “A giant suction pump had by 1929-1930 drawn into a few hands an increasing portion of currently produced wealth. As in a poker game where the chips were concentrated in fewer and fewer hands, the other fellows could stay in the game only by borrowing. When their credit ran out, the game stopped.”

While the wealthy of the 1920s didn’t know what to do with all their money, most Americans could maintain their standard of living only by going into debt. When that debt bubble burst, the economy tanked.

Fast forward 100 years and we see the same pattern. While the typical Americans’ wages have barely budged for decades, adjusted for inflation, most economic gains have gone to the top, just as Eccles’s so-called “giant suction pump” drew an increasing portion of the nation’s wealth into a few hands before the Great Depression.

The result has been an economy whose underlying structure is far more fragile than it may seem.

Remember the housing and financial bubbles that burst in 2008? We avoided another Great Depression then only because the government pumped enough money into the economy to maintain demand, and the Fed kept interest rates near zero. Then came the p******c.

The Fed has had to keep interest rates near zero. And the government has had to pump even more money into the economy. While these programs have been crucial to staving off a p******c-induced depression, they’re only temporary.

Over the long term, the real worry continues to be on the demand side. Widening ine******y means not enough demand.

America’s wealth gap is now more extreme than it’s been in over a century. Until this structural problem is remedied, the American economy will remain perilously fragile.

It will also be vulnerable to the next demagogue wielding anger, r****m, and resentment as substitutes for real reform.

Closing our staggering wealth gap is crucial to the survival of both our economy and our democracy.

https://www.youtube.com/watch?v=iNLOdRMgaDY&feature=emb_rel_end
The Real Reason the Economy Might Collapse br Robe... (show quote)

==================
You are wrong again Milosia.
Robert Reich has a very politically biased opinion as democrat. He is 100% dev**ed democrat and had served in 3 democrat administrations of Gerald Ford, Jimmy Carter, as well as serving the Sec. of Labor from 1993 to 1997 under president Bill Clinton. Robert Reich's brain is 110% molded democrat.

His theory is pumping out too much cash into the market so as to stimulate economy, but where will the cash come from? From the rich according to him, that means increase tax rates for the rich to increase cash that will be pumped into the market. And who will pump the cash, no other than the handout democrats who Biden will distribute the $3.5 trillion. Reich's goal is to decrease gap between the rich and the poor .

During the administration of president Trump we have the best economy locally and worldwide. The gap between the rich and the poor was so slim. Income of those in the higher bracket has lowered the margin cause the company was so productive due to increased labor and production in addition to lower tax rates. Who benefitted on that. The employees. The employees salaries went up. There were 96.5% employment with companies producing so much production. Inflation was at its lowest. B****s, Hispanics, and all minorities and women have reached the highest income. Almost every one was employed Except those who are weak and sick. While few who did not have sk**ls were given training in private firms and after that they were hired full time. These were the prior convicts with low level crimes. and president Trump ordered them released. They became productive and felt self-worth and p***e of themselves. This is one of the virtues of having a job feeling good that elevated their self-esteem.

Biden is doing the opposite. He gives them tax payers money from Cradle to Grave. The best thing is " teach them how to fish , and you feed him for the rest of his life"

Giving work is better than giving money. Robert Reich. First , stir the growth of production to meet the demands. Those who demand, must be required/allowed to work and produce so as to balance between demands and supplies.

Another thing that Reich missed is the lowering of corporate tax rates. He has the opposite proposal for this by raising the taxes rates of the rich. If he does this, it will create inflation. Corporations or business industries when overhead costs rise, the solution is increase prices to offset the losses in the high taxes.

Another solution of companies when overhead cost expands, businesses reduce employment in order to continue the same earning potentials of the company, or increase prices of their labor, services, and or commodities for sale. What makes up production is material, labor, and overhead. All taxes fall into the overhead costs. The adverse effects of his propositions are inflation, higher unemployment, interest rates could go up too. When supplies of money is scarce at the bank, interest rates go up.
I hope president Biden does not listen to his handlers.

Biden's solution is pump more money. The $3.5 trillion will do the trick? No. What Biden must do is by not feeding those l***hes. Require them to work, instead of feeding them to stay home. When they produce that adds to supplies to meet demands of the increasing population.

Robert Reich's problems of economic perspectives:
The Great Depression of 2008 stemmed from the demands of the Liberal /Democratic Group to ease affordability by allowing home ownership for low income. That was how the Sub-prime lending came about. The loan interest rates of the Sub-prime lending is much higher than the prime rates.

At that time from 2006 until 2008, democrats demanded from banks and financial institutions to allow loans to low income, with bad credits by lowering requirements for lending practices. The normal rule to qualify mortgage loans are: Stable jobs. Must have only 30% debts or liabilities in relation to monthly income. Good credit ratings. These are prime rate barrowers.

However the high risks for sub-prime barrowers, those with bad credits, and low and not stable income. Their loan rates were significantly higher rates than the prime rate. After a year, tens of thousands were not able to pay their loans, with massive foreclosures happened. Several banks got bankrupt and closed.

Reply
Oct 14, 2021 01:02:27   #
dtucker300 Loc: Vista, CA
 
Radiance3 wrote:
==================
You are wrong again Milosia.
Robert Reich has a very politically biased opinion as democrat. He is 100% dev**ed democrat and had served in 3 democrat administrations of Gerald Ford, Jimmy Carter, as well as serving the Sec. of Labor from 1993 to 1997 under president Bill Clinton. Robert Reich's brain is 110% molded democrat.

His theory is pumping out too much cash into the market so as to stimulate economy, but where will the cash come from? From the rich according to him, that means increase tax rates for the rich to increase cash that will be pumped into the market. And who will pump the cash, no other than the handout democrats who Biden will distribute the $3.5 trillion. Reich's goal is to decrease gap between the rich and the poor .

That is wrong policy Robert Reich. First , stir the growth of production to meet the demands. Those who demand, must be required/allowed to work and produce so as to balance between demands and supplies.

Another thing that Reich missed is the lowering of corporate tax rates. He has the opposite proposal for this by raising the taxes rates of the rich. If he does this, it will create inflation. Corporations or business industries when overhead costs rise, the solution is increase prices to offset the losses in the high taxes.

Another solution of companies when overhead cost expands, businesses reduce employment in order to continue the same earning potentials of the company, or increase prices of their labor, services, and or commodities for sale. What makes up production is material, labor, and overhead. All taxes fall into the overhead costs. The adverse effects of his propositions are inflation, higher unemployment, interest rates could go up too. When supplies of money is scarce at the bank, interest rates go up.
I hope president Biden does not listen to his handlers.

Biden's solution is pump more money. The $3.5 trillion will do the trick? No. What Biden must do is by not feeding those l***hes. Require them to work, instead of feeding them to stay home. When they produce that adds to supplies to meet demands of the increasing population.

Robert Reich's problems of economic perspectives:
The Great Depression of 2008 stemmed from the demands of the Liberal /Democratic Group to ease affordability by allowing home ownership for low income. That was how the Sub-prime lending came about. The loan interest rates of the Sub-prime lending is much higher than the prime rates.

At that time from 2006 until 2008, democrats demanded from banks and financial institutions to allow loans to low income, with bad credits by lowering requirements for lending practices. The normal rule to qualify mortgage loans are: Stable jobs. Must have only 30% debts or liabilities in relation to monthly income. Good credit ratings. These are prime rate barrowers.

However the high risks for sub-prime barrowers, those with bad credits, and low and not stable income. Their loan rates were significantly higher rates than the prime rate. After a year, tens of thousands were not able to pay their loans, with massive foreclosures happened. Several banks got bankrupt and closed.
================== br i You are wrong again Milo... (show quote)


Gerald Ford wasn't a Democrat.

Reply
Oct 14, 2021 01:20:42   #
Radiance3
 
dtucker300 wrote:
Gerald Ford wasn't a Democrat.

===============
Did I missed that? You are right I did. Thanks for pointing that out. My human imperfection.

Here was my statement:
He is 100% dev**ed democrat and had served in 3 democrat administrations of Gerald Ford, Jimmy Carter, as well as serving the Sec. of Labor from 1993 to 1997 under president Bill Clinton.

Reply
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