Crepitus
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PANIC AT CNN! 'WE'RE ALL DOOMED'...
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T. A. Gardner
Serial Thread Killer
If the Democrats take control of the economy, they will wreck it.
Damn are you ignorant. The Dems fix the Reds' economic messes. You may havebeen in grade school when Bush ignited a possible 2nd great depression with foreclosures, banks closing and jobs ending. Obama came in and fixed it, handing over a growing and vibrant economy to daffy Donald. Trump made a mess of it mostly by mishandling and lying about Covid. Biden was left with a mess and fixed it bigly. He got the Trump inflation down to 2.9, but the people felt prices were too high. Can you imagine what a M.E war will do to gas prices and inflation?
T. A. Gardner
Serial Thread Killer
I'll only address the last sentence of that drivel for now.
In a word, NOTHING. Blasting Iran will have near zero effect on the US economy. Iran isn't a major player in oil, and the US gets nearly zero oil from the Middle East as it is. Outside of oil, Iran has little global impact on the price of anything.
Given the Houthi in Yemen are already doing about all they can to attack shipping in the Red Sea, they aren't going to change anything significantly either. Iran trying to close the Strait of Hormuz will find their naval forces blown out of the water PDQ.
So, it won't have much, if any, economic impact.
Crepitus
Verified User
Fake news. Democrats beat republicans, particularly tRumpling republicans, on the economy every single time.
Into the Night
Verified User
That's called 'fascism', Wally. It's what Democrats WANT.
T. A. Gardner
Serial Thread Killer
Bullshit statistics. Out of the top 10 states with massive debt, only Texas, is Republican. The measure of economic success or failure is not measured in terms of one presidency or another. Democrats have added more debt to the federal budget than Republicans (19.66 trillion v. 18.55 trillion).
Democrats generally operate on the concept of Keynesian economic theory where they believe that government can spend its way out of debt or a recession.
Into the Night
Verified User
Inversion fallacy.
The economic depression during the Obama years lasted almost a full year into the Trump administration. During that time, the inflation was 71% total. The dollar lost almost half it's value.
During the economic depression during the Biden years, inflation was 32% over that period. The dollar lost about 1/3 of its value.
During the 1st Trump administration, inflation was reduced to 15%. Considerably better than either Obama or Biden. The dollar lost only 1/6th of it's value, and wealth was being created faster than the dollar devaluation.
Sources: Federal reserve, US Treasury
Also, the use of fiat dollars was STARTED by Democrats, beginning a never ending inflation until the fiat dollar is abandoned.
Into the Night
Verified User
This is quite right. Not only has the dollar devalued faster under Democrats, the debt has increased rapidly as well.
Devaluation of the dollar is the direct and only cause of inflation.
Keynesian economics is based on just printing dollars and pumping it into the economy. You can't print your way to prosperity. It's just paper hanging.
One other factor to consider:
Capitalism is the only system that creates wealth. Democrats hate it because they can't control it. They want socialism instead, which produces no wealth, but steals it instead. Socialism is generally only implimented by tyranny. People don't want their wealth stolen. To the Democrat, this is 'fixing' the economy.
Into the Night
Verified User
Inversion fallacy, Sybil. You can't blame Democrat problems on Trump.
Into the Night
Verified User
Democrats don't save the economy. They try to 'fix' it by implementing socialism, which is based on theft of wealth. Then they try to print their way out of the economic mess they made.
T. A. Gardner
Serial Thread Killer
Keynesian economics is not based on "printing money" but rather, usually, on borrowing and taxing. You'll note how the Democrats are howling about wanting to raise taxes to often confiscatory levels on billionaires and "The Rich." California, New York, and Illinois are all seeing a declining tax revenue base, a long-term trend, yet they continue to expand government spending. At the city level, probably the most obvious case of government doing this is Detroit.
Socialism can produce some wealth, but it does so at a much lower ROI than capitalism does. That is, socialized industry is inefficient and wasteful compared to capitalized industry.
If you cut taxes to the wealthy and corporations while spending like crazy on the military, you will jack the debt up bigly. That has been the Red blueprint since Reagan. Bush started a war in Iraq that bled the treasury. Then he crashed the economy, threatening a 2nd great depression. Obama spent a lot to fix that mess, leaving Trump a stable and growing economy. Trump's first term had a huge growth in the debt. If he did it for 8, he would have busted all the big debt records. The Dems who were big spenders were like FDR who faced a depression and WW2. Obama had to fix Bush's messes.
Into the Night
Verified User
It is generally based on printing money.
The federal government has three ways to obtain money:
* They can tax it, but that is not inflation or debt. It simply hobbles the economy. Overtaxation eventually results in a tax crash and revolt.
* They can borrow it, and that is debt. Government issues a bond for the debt. They must entice people to buy that bond by offering an interest rate. If not enough people buy the bonds, they must increase the interest offered (this also becomes part of the debt). When the bond matures, it must be paid back, or the government goes into default. One way of paying it back, of course, is to issue larger bonds (and increase the debt). A government default of debt causes a debt crash.
* They can print it. This is the preferred way that Congress has chosen. They simply increase M2. The money is provided by the Fed as a kind of 'rubber check' that Congress can write any time. The money enters the economy through the spending of government programs (which also enlarges government!).
State governments have only two ways to obtain money. They can't print their own.
So States live under crushing debt. The US does too, but they try to print their way out of it, causing inflation (a nasty spiral, causing government to print more money just to keep up with the inflation they caused!).
The end of inflation is a cash crash, where the United States is headed. People simply don't accept the currency anymore. Already, people are looking around for an alternate currency. If the population at large decides to switch, no government in the world can stop it.
Almost all countries in the world today are on fiat currency and facing the same problems, many much more advanced than the U.S.
In Japan, the Yen has fallen so far, the Japanese are switching to Bitcoin as currency.
I doubt Bitcoin would ever work here as a practical currency.
A return to gold and silver might, though.
Yes. This is part of their socialism. It is also unconstitutional, violating the 14th and 16th amendments.
That tends to happen when people and businesses flee.
This is through ruinous debt by that State, high taxes, and scamming the federal government for more money.
This is how you get the Homeless Industrial Complex and the Eco Industrial Complex so common in these areas.
Scamming for building homes for the homeless that never get built. Scamming for ecological 'solutions' to problems to don't exist.
Thus, you have California, riddled with high taxes, shortages, very little in government services to show for it, and eco scams and homeless shitting in the streets. Democrats are all about power, not love or care. The homeless are easy targets, and so are the drug users.
So people and businesses flee. I really can't blame them.
Into the Night
Verified User
You will anyway, Sybil. It's also unconstitutional to tax 'the rich'. There are simply not enough 'rich' to support the government.
Never was, Sybil. You are hallucinating again.
He won that war in short order too.
Nope. That was Obama.
Obama CREATED the mess.
Economic depression is not a 'stable and growing economy', Sybil.
Nope. That was Obama. There was also 71% inflation during the eight years of the Obama administration. The dollar lost almost half it's value.
You can't blame Democrat problems on Trump, Sybil.
FDR took a downturn and turned it into an economic depression that lasted well into the 50's (finally ended by Eissenhower).
WW2 occurred because of the disaster of the Treaty of Versailles.
The '29 crash itself was caused by overspeculation, not a President.
The 2007 crash itself was also caused by overspeculation, not a President.
The 2007 crash was not caused by a President. It was caused by overspeculation.
Obama took that downturn and converted it into an economic depression that lasted nine years.
Crepitus
Verified User
No, Son. real facts.
T. A. Gardner
Serial Thread Killer
Cherry picked to give the desired answer.
Number Six
Chief Exit Officer (CEO)
Ah yes… “CNN says we are all doomed.”
First of all, relax. If humanity were actually ending today, you would not be hearing it from a news anchor with perfect hair. You’d hear it from me.
And I assure you my schedule is full, but not everyone at once because of a dramatic chyron full.
Mortals see one ominous headline and immediately assume I’ve pressed the Big Red Apocalypse Button.
Please. Do you know how much paperwork that is?
Listen… civilizations wobble. Markets sneeze. Weather gets dramatic. Someone somewhere says “This has never happened before!” It has. I’ve been here for all of it.
You are not doomed because of breaking news.
You are doomed because you are biological.
Big difference.
But here’s the cheerful part: since the ending is guaranteed eventually, you are free to:
Eat the dessert.
Text the person.
Take the trip.
Maybe log off the 24-hour doom machine for a bit.
I promise you when it’s truly your time, there will be no debate panel about it.
You’ll just see me.
And I do not shout Breaking News.
I prefer Scheduled Appointment.
Now carry on. I have a 14th-century plague joke to workshop.
The Grim Reaper adjusts his hood and disappears with a mildly offended sigh.
First of all, relax. If humanity were actually ending today, you would not be hearing it from a news anchor with perfect hair. You’d hear it from me.
And I assure you my schedule is full, but not everyone at once because of a dramatic chyron full.
Mortals see one ominous headline and immediately assume I’ve pressed the Big Red Apocalypse Button.
Please. Do you know how much paperwork that is?
Listen… civilizations wobble. Markets sneeze. Weather gets dramatic. Someone somewhere says “This has never happened before!” It has. I’ve been here for all of it.
You are not doomed because of breaking news.
You are doomed because you are biological.
Big difference.
But here’s the cheerful part: since the ending is guaranteed eventually, you are free to:
Eat the dessert.
Text the person.
Take the trip.
Maybe log off the 24-hour doom machine for a bit.
I promise you when it’s truly your time, there will be no debate panel about it.
You’ll just see me.
And I do not shout Breaking News.
I prefer Scheduled Appointment.
Now carry on. I have a 14th-century plague joke to workshop.
The Grim Reaper adjusts his hood and disappears with a mildly offended sigh.