Debt servicing up 30% so far this year

Celticguy said:
https://www.wsj.com/articles/u-s-pa...es-rates-inflation-stays-elevated-11656165602

and it'll be a lot more next year.

The good news is that it kinda ties Biden's hands on spending assuming we can even pay it with our current credit worthyness.

Inflation hurts a lot more in addition to bread and gas.
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It gets unworkable very quickly, plus inflation is on purpose because of all of the excess debt in the system, there has to be a default of some sort, inflation is the plan.

Its all going to come crashing down, the current global financial system is toast.

China will design the next one.

BIG PAIN AHEAD
 
Celticguy said:
https://www.wsj.com/articles/u-s-pa...es-rates-inflation-stays-elevated-11656165602

and it'll be a lot more next year.

The good news is that it kinda ties Biden's hands on spending assuming we can even pay it with our current credit worthyness.

Inflation hurts a lot more in addition to bread and gas.
Click to expand...

In terms of debt servicing from a shithole, consider the atrocity to which the lawlessly hacked in pig tRump and his seditious conspiring repukes of their tax break conspiring gutter at increasing the national debt at over 36% for the taxpayer to eat. This during those four deplorable years at having a lawlessly hacked in administration of stench and trash that squatted in the then Russian bugged up and repuke enemy form within disgraced up and contaminated White House from 2017 to 2020. This until as of 2020 when the majority at being fed up at running with the devil finally gave the 45 devil and his fellow lawless criminals whose tenure was of a counterfeit crapped out shit hole the boot! These are the reasons why it does not pay to lawlessly hack in a career criminal tRump type in there at robbing Hillary Clinton to which came with a curse of epic proportions:

President Trump's Impact on the National Debt
The national debt increased by almost 36% during Trump's tenure

Republican candidate Donald Trump promised during the 2016 presidential campaign that he would eliminate the nation’s debt in eight years.

Instead, his budget estimates showed that he would actually add at least $8.3 trillion, increasing the U.S. debt to $28.5 trillion by 2025.1 But the national debt reached that figure much sooner. The national debt stood at $19.9 trillion when President Trump took office in January 2017, and it reached a high of $27 trillion in October 2020.

The national debt reached another high of $28 trillion less than two months after President Trump left office."

https://www.thebalance.com/trump-plans-to-reduce-national-debt-4114401
 
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Celticguy said:
its a side effect of chilling the economy to drive down inflation.
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It won't do anything. Inflation is a lie, we're looking at a supply/demand issue. Prices are up due to lack of supply. People who believe in "inflation" are idiots because our currency only has the value we give it.
 
Guille said:
It won't do anything. Inflation is a lie, we're looking at a supply/demand issue. Prices are up due to lack of supply. People who believe in "inflation" are idiots because our currency only has the value we give it.
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Interesting theory. Wrong but interesting. No credible economist agrees with you.
 
Guille said:
It won't do anything. Inflation is a lie, we're looking at a supply/demand issue. Prices are up due to lack of supply. People who believe in "inflation" are idiots because our currency only has the value we give it.
Click to expand...
lack of supply coupled with excess dollars = high inflation. we are close to 9%
The problem is we import way too much and dont manufacture enough -which is what Trump was trying
to accomplish with trade negotiations bilateral with China

oil production is down about 1 million bbl, despite refiners running at peak,
because we closed some refinerys too

and then there is a fertilizer shortage..not sure when that hits.. it's a shit load of screw ups combined
 
dukkha said:
lack of supply coupled with excess dollars = high inflation. we are close to 9%
The problem is we import way too much and dont manufacture enough -which is what Trump was trying
to accomplish with trade negotiations bilateral with China

oil production is down about 1 million bbl, despite refiners running at peak,
because we closed some refinerys too

and then there is a fertilizer shortage..not sure when that hits.. it's a shit load of screw ups combined
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OK...how?

As for the rest of your post you're talking about supply being down. That's a lot different than some magical money fairy fucking with the intrinsic value of currency.
 
Guille said:
OK...how?

As for the rest of your post you're talking about supply being down. That's a lot different than some magical money fairy fucking with the intrinsic value of currency.
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red letter you highlted is supply and demand. too few goods OR too much currency increases prices.
In our current economy both are happening at the same time *ouch*
 
dukkha said:
red letter you highlted is supply and demand. too few goods OR too much currency increases prices.
In our current economy both are happening at the same time *ouch*
Click to expand...

Yeah. We have a supply/demand problem. Inflation doesn't factor in at all because it doesn't exist.
 
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