50 years of failed eco predictions

[gfm7175]

So you begin your response with a lie,

No, I began my response with the TRUTH. Masks do NOT filter out viruses. The typical paper mask that you see people wearing around are rated for particles of size 3+ microns. COVID is approximately 0.1 microns in diameter. IOW, COVID will go right through the mask pores.

Why do you pretend not to know this?

and expect others to believe you. Typical.

Are engineering specs and basic mathematics hard to understand?

https://www.news10.com/news/science/49-scientific-studies-explain-why-face-masks-work/

Try doing your own thinking for a change...

 

[Into the Night]

Taxes are not theft, and it's juvenile to think they are.

They are theft. Nothing but.

And lower taxes doesn't lead to increased economic activity,

Yes it does.

and we know that because we just fucking lived through it.

That we did. The most vibrant economy this nation had ever experienced!

One year after the Russia Tax Cut,

Russian taxes do not affect the United States.

manufacturing entered into a recession:

Due to DEMOCRATS shutting down the economy by shuttering businesses.

U.S. manufacturing was in a mild recession during 2019, a sore spot for the economy
https://www.washingtonpost.com/busi...mild-recession-during-2019-sore-spot-economy/

Fake news.

And the rest of the economy followed a year later, before any COVID lockdowns started:

It's official: Recession began in February, ending longest U.S. expansion ever
https://www.cbsnews.com/news/united-states-recession-started-february/

Fake news.

And the tax cut didn't even create more jobs, like you pretended it would:

Yes it did.

Obama’s Last Three Years Of Job Growth All Beat Trump’s Best Year
https://www.forbes.com/sites/chuckj...th-all-beat-trumps-best-year/?sh=574408ff6ba6

Fake News. Stop quoting fake news. Propaganda is not the truth.

 

[Into the Night]

Nope...the problems come from revenue declines via tax cuts.

Nope. The government spends too much.

Because we achieved a budget surplus before without cutting spending.

The government has NEVER had a budget surplus in over 70 years.

 

[LV426]

You can't borrow your way to profit

Someone should tell Netflix that. Or AT&T. Or Comcast. Or any fracking company.

You can't print your way out of economic problems.

Actually, spending during a recession is the smartest thing you can do to save your economy.

Cutting spending only exacerbates the recession because you're pulling spending out of the economy and not replacing it with any new spending.

So if everyone pulls back their spending together, that contracts the economy and causes a recession.

I should really be charging you for this lesson in Macroeconomics.

 

[LV426]

Only capitalism can save you. Only capitalism creates wealth. Socialism is theft of wealth. Both fascism and communism are forms of socialism.

You sound like you're in a cult.

Capitalism can't save anyone, and more often than not, Capitalism requires socialism to save it, rather than the other way around.

After all, didn't we just give Capitalism trillions of PPP dollars last year? The poor babies should've pulled themselves up by their bootstraps, huh?

Here's a shortlist of all the bailouts Capitalism had to get the last 40 years:

S&L Bailout
Dotcom Bailout
Subprime Bailout
Auto Bailout
Airline Bailout
Restaurant Bailout

Don't see any Capitalism bailing out government...I just see a lot of government bailing out Capitalism.

 

[Into the Night]

Wrong.

Deficits are caused when revenue doesn't exceed spending, and the only reason it does that is because revenue is depressed by tax cuts.

Nope. Deficits are part of BORROWING money, not taxation.

Near the end of Clinton's term, he achieved budget surpluses,

Never did. He simply cooked the books.

proving that you can raise taxes, eliminate the deficit, increase spending (which grew 33% over Clinton's 8 years), and grow your economy.

The economy didn't grow under Clinton. Speculation is not growth. It is gambling. It was caused by government printing money much faster than wealth being created (inflation). The resulting crash in 2001 was inevitable.

Bush said "surpluses mean we're being overtaxed", and then passed his Bush Tax Cuts which took a $236B budget surplus in 2000 and turned it into a $157B deficit by 2002.

Deficits have nothing to do with taxation. Deficits are about BORROWING money.

That was all thanks to the tax cuts.

You are making shit up.

 

[LV426]

Capitalism requires NO government to function.

Every single business is chartered by the state. What do you think "incorporation" means?

You're starting to get into a subject you know nothing about, and it's going to result in you flaming out with fallacies all over this thread.

It is just everyday people providing goods and services voluntarily that others want to voluntarily pay for. It's not 'The Rich'. It's the butcher, the baker, and the candlestick maker. It is EVERYONE that runs a business. Anyone can play. You don't have to be poor. Start a small business. All it takes is work and initiative. Clean gutters. Mow lawns. Start a hotdog cart. Pressure wash driveways. Fix cars. Anything. That's capitalism. You can pull yourself out of poverty. No government needed.

Not everyone can play because not everyone has equal access to the same Capital because so much of it is hoarded at the top.

You also have a very juvenile view of the economy and that's because you've never been taught Economics or Macroeconomics before.

So you're winging it.

Typical.

 

[LV426]

WRONG. He ENDED the recession caused by Carter's wage and price controls.

Moron...what Carter had was stagflation which is not a recession. It's something completely different. Stagflation is SLOW economic growth, not contracting economic growth. Contracting economic growth is a recession. Slow economic growth is stagflation.

Carter's GDP growth for his term (3.25%) was higher than Trump's (0.95%), Bush the Dumber's (2.2%), Bush the Elder's (2.25%), and Obama's (1.62%). And Reagan (3.48%) was only 0.23% higher than Carter.

And the wage and price controls started with Nixon in 1970, you dumbass.

So on top of not knowing a goddamn thing about economics, you also don't know a goddamned thing about history.

 

[Into the Night]

On what? What spending would you cut? Be specific.

Okay... you asked:

* disband the EPA.
* disband the NEA.
* disband the BATF.
* Wind down the Social Security system...to eventually disband it.
* disband the CPSC
* disband the DHS.
* disband the DEA.
* disband most of NASA (satellite tracking and airfoil standards tracking are still useful).
* reorganize the military to reduce waste and improve response.

That'll do for starters.

Because if you completely cut all discretionary spending from the budget, you're still running a trillion dollar deficit, dipshit.

Buzzword fallacy. ALL spending is discretionary.

And more importantly, government spending is a major component of our economy.

Nope. Taxing or printing money (stealing wealth) to spend it is NOT economy. Communism doesn't work, dude.

So if you reduce government spending by $1T, that's 4% of GDP you reduced that you didn't make up for.

Communism doesn't work, dude. Government spending ain't free.

Every amount of spending you cut needs to be made up somewhere else, otherwise you contract your economy.

Wrong. Government spending ain't free.

And what does contracting your economy mean? A recession.

Wrong. Get government out of the way and the economy improves.

Spending cuts are a sure fire way to speed up a recession.

Wrong. The government is broke. It must tax, print, or borrow money to function at all.

 

[Into the Night]

Nope...the problems come from revenue declines via tax cuts.

Because we achieved a budget surplus before without cutting spending.

There has never been a government surplus in over 70 years.

 

[LV426]

The S&Ls collapsed because of Carter.

Nope.

The S&L crisis was brought about by the combination of taxpayer guarantees along with deregulation, and it started in earnest with the Garn–St. Germain Depository Institutions Act of 1982 that deregulated savings and loan associations and allowed banks to provide adjustable-rate mortgage loans.

 

[Into the Night]

Yes they do.

Bush cut taxes in 2001 and that turned a $236B surplus into a $157B deficit by 2002.

There has not been a government surplus in over 70 years.

Well, good thing no one here is calling for Communism, then.

You are.

So you don't need to wad your panties all up into a bunch about something completely and totally imaginary.

Not imaginary. You are calling for communism.

 

[LV426]

Not a recession.

A recession is when the economy contracts and from July 1990 to March 1991, the economy contracted.

There is no disputing this.

 

[Into the Night]

Every single business is chartered by the state.

Nope. No business is chartered by the state.

What do you think "incorporation" means?

A type of business structure that operates under a constitution, usually known as the corporate charter or corporate contract. Shares in the contract are distributed among usually two or more owners. Not all businesses are corporations.

You're starting to get into a subject you know nothing about, and it's going to result in you flaming out with fallacies all over this thread.

Inversion fallacy.

Not everyone can play

Anyone can play the game of capitalism. All it takes is initiative and work.

because not everyone has equal access to the same Capital

Create it.

because so much of it is hoarded at the top.

Successful businessmen are successful because they produce products or services that people want to buy.

You also have a very juvenile view of the economy

Inversion fallacy. You are advocating communism as 'economy'. Communism is socialism. It is a form of theft.

and that's because you've never been taught Economics or Macroeconomics before.
So you're winging it.
Typical.

Inversion fallacies.

 

[Into the Night]

Here's what your buddy Lee Atwater had to say about tax cuts:

I don't give a shit about what Lee Atwater has to say.

 

[LV426]

Government does not create wealth. The only jobs Carter created were government jobs, paid for by stealing wealth.

Wrong again because you're too sloppy and too lazy to do the work of being informed.

Total Private Sector Employment (in 000s)
January 1977: 65,634
January 1981: 74,673

Total Government Sector Employment (in 000's)
January 1977: 15,056
January 1981: 16,360

So Carter created 9M private sector jobs and 1.3M public sector jobs.

It was actually Bush the Dumber (remember him?) who grew public sector employment during his term while losing net private sector jobs. Bush the Dumber would go on to create net 480,000 jobs in 8 years, but all those jobs are government jobs.

 

[LV426]

I got quite a bit of of it.

Sure, Jan.

I started my instrumentation company back then.

Sounds made up.

I've been creating wealth since.

Bullshit.

 

[LV426]

The only things stopping you from creating wealth is the government and you.

Wait - how could you have created wealth for yourself while also arguing at the same time that government stops you from creating wealth?

You're bullshitting everyone, aren't you?

 

[Into the Night]

Someone should tell Netflix that. Or AT&T. Or Comcast. Or any fracking company.

None of these companies borrowed their way to profit. They all produce products or services that people want to buy. That's how you make a profit. Borrowing is a liability. Sales are cash...an asset.

Actually, spending during a recession is the smartest thing you can do to save your economy.

No, capitalism is.

Cutting spending only exacerbates the recession because you're pulling spending out of the economy and not replacing it with any new spending.
So if everyone pulls back their spending together, that contracts the economy and causes a recession.

Reversal fallacy.

I should really be charging you for this lesson in Macroeconomics.

You aren't teaching any.

 

[Into the Night]

You sound like you're in a cult.

Capitalism is not a cult.

Capitalism can't save anyone,

It's the only thing that creates wealth.

and more often than not, Capitalism requires socialism to save it, rather than the other way around.

Reversal fallacy. Socialism is theft of wealth. It has no place to steal from without capitalism creating wealth.

After all, didn't we just give Capitalism trillions of PPP dollars last year?

No.

The poor babies should've pulled themselves up by their bootstraps, huh?

They already did.

Here's a shortlist of all the bailouts Capitalism had to get the last 40 years:

Bailouts are not capitalism.

S&L Bailout
Dotcom Bailout
Subprime Bailout
Auto Bailout
Airline Bailout
Restaurant Bailout

Bailouts are not capitalism.

Don't see any Capitalism bailing out government...I just see a lot of government bailing out Capitalism.

Bailouts are not capitalism. Communism is not capitalism.