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So I see that Democrats (and some spineless Romney-type Republicans) are trying to pass another COVID relief bill. If the economy is BOOMING and everything is amazing, why do we need another relief bill?
Now that I hadn't read. Just how stupid does someone have to be to promote something like that, at a time when inflation is the highest in decades, we have near zero unemployment and interest rates are spiking hard?
But the remedy is politically incorrect - abolition of all taxes on labor and industry. Eliminating all taxes and administrative overhead would drastically change the economic outlook. Higher take home pay, lower prices (while preserving profit margins), and repatriation of industries once America is a "Tax Haven."
This.
America didn't become the largest economy in the world with a corrupt, bloated, overbearing government.
We sure as hell ain't going to stay one with a corrupt, bloated, overbearing government.
GOVERNMENT PRODUCES NOTHING. ALL PRODUCTION OCCURS IN THE PRIVATE SECTOR.
In fact, Government waste should be excluded from GDP. Government "spending" is NOT production.
Last edited by albert648; 04-07-2022 at 06:16 PM..
Shocking consumer credit numbers... credit debt soars with savings long gone. Combine people spending all their covid stimulus combined with central bank tightening, inflation should dry up and we should see deflationary pressures come quickly before the swamp trash realizes what is happening and starts using more pixie dust to pump the system further with liquidity and halt their rate hikes they are supposedly going to make.
It doesn't surprise me Americans would spend every cent they have right away. A lot of people where I work still have 401K loans for tens of thousands of dollars. I wonder how quickly things will reverse course and spending will dry up... get ready to come off the heroin high of unprecedented QE. Withdraw is a *****.
Another question then... where are those trillions of dollars of M1 money pumped into the system... did they all go into the hands of the rich and large corporations? If so I wouldn't be surprised if there are some revenue and EPS misses on the horizon after the stimulus bump to earnings while supply chain issues remain. Trickle down should fix that right? Keep defending your positions modern monetary theorists. You want to drain the swamp but that is impossible with the policies you support. Meanwhile China is still locking down whole cities over a virus anyone can get a vaccine for. Clown world.
I sure don't want to go back to the time of Trump when chain stores were shutting down in my small rural town, such as JC Penney, Payless and Pier 1, for starters. And then came 2020 with all the covid restrictions and no concerts. And for a time no bars and restaurants open.
I don't live from paycheck to paycheck, so the inflation doesn't have a major impact on me. Shortages are worse. My local Wal-Mart is having trouble keeping dry cat food by Purina in stock.
I have to wonder how many here are homeowners. I know quite a few people that refinanced their homes to a much better interest rate, took a cash out and paid down all their high interest credit cards, and their monthly mortgages are not much higher at all. Clearly things worked out well for them. We took a 1031 rental and dropped 4 points off the interest (that was a nice monthly windfall for us).
I have to wonder how many here are homeowners. I know quite a few people that refinanced their homes to a much better interest rate, took a cash out and paid down all their high interest credit cards, and their monthly mortgages are not much higher at all. Clearly things worked out well for them. We took a 1031 rental and dropped 4 points off the interest (that was a nice monthly windfall for us).
That is nice. Yet the vast majority of people say we are heading into a recession and that the economy is in rough shape.
Also, the 30 year mortgage rate has doubled under Biden, it was 2.750% when he took office and is now 5.556%.
Hopefully, most people refinanced under Trump.
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