Wally
BrownCafe Innovator & King of Puns
Will Biden's 40% corporate tax help or hinder?
I want him to go on vacation. Maybe play some golf and concentrate on being the best he can be.Will Biden's 40% corporate tax help or hinder?
Blame on both sides here. Nobody cares...
Watchdog: Biden's 2025 budget would drive national debt to $45 trillion in 10 years, 106% of GDP
A budget watchdog group says the "projected growth in debt and deficits under the president's budget is driven by a persistent gap between spending and revenue." Meanwhile, progressive groups laud the budget.justthenews.com
Blame on both sides here. Nobody cares...
Watchdog: Biden's 2025 budget would drive national debt to $45 trillion in 10 years, 106% of GDP
A budget watchdog group says the "projected growth in debt and deficits under the president's budget is driven by a persistent gap between spending and revenue." Meanwhile, progressive groups laud the budget.justthenews.com
Trouble is, any cut will immediately be starving children or pushing Gammy off a cliff. Cannot tax your way out of this problem either.What Is the U.S. National Debt Right Now — and Why Is It So High?
See the latest numbers and learn more about the causes of our high and rising national debt.www.pgpf.org
Since the increase in the money supply (M1, M2 and M3) can cause inflation but is not the only possible cause of inflation, defining inflation as merely the increase in the overall money supply isn’t as accurate as defining “inflation” as “the rate of increase in prices over a given period of time. Inflation is typically a broad measure, such as the overall increase in prices or the increase in the cost of living in a country.” (IMF definition)i know what you mean to say, but the price increase in-and-of-itself is not inflation
inflation is increasing the money supply, the price increases are the (inevitable and inescapable) result
Being the reserve currency comes with “responsibilities “.Since the increase in the money supply (M1, M2 and M3) can cause inflation but is not the only possible cause of inflation, defining inflation as merely the increase in the overall money supply isn’t as accurate as defining “inflation” as “the rate of increase in prices over a given period of time. Inflation is typically a broad measure, such as the overall increase in prices or the increase in the cost of living in a country.” (IMF definition)
Injecting $2 trillion in stimulus into the money supply will, and did, result in inflation. Biden was warned not to do it but he did anyways.Since the increase in the money supply (M1, M2 and M3) can cause inflation but is not the only possible cause of inflation, defining inflation as merely the increase in the overall money supply isn’t as accurate as defining “inflation” as “the rate of increase in prices over a given period of time. Inflation is typically a broad measure, such as the overall increase in prices or the increase in the cost of living in a country.” (IMF definition)
I don’t disagree with that.Being the reserve currency comes with “responsibilities “.
We’ve had a long history of doing too little in terms of response to economic shocks. This time was an overshoot. Keep in mind we’re a $27 trillion economy, and the ARP ($1.9 trillion) was a one time shot amidst a crisis. Not sure it’s totally responsible for 100% of the cycle of inflation we’ve had. Also we should note that Trump signed the CARES Act which was $2.2 trillion.Injecting $2 trillion in stimulus into the money supply will, and did, result in inflation. Biden was warned not to do it but he did anyways.
You'll have to argue with top economists like Larry Summers who warned the administration not to do it. It was unnecessary and ended up being the major catalyst behind the inflation surge. It's not political, it's hammering everyone. Especially those on fixed incomes.We’ve had a long history of doing too little in terms of response to economic shocks. This time was an overshoot. Keep in mind we’re a $27 trillion economy, and the ARP ($1.9 trillion) was a one time shot amidst a crisis. Not sure it’s totally responsible for 100% of the cycle of inflation we’ve had. Also we should note that Trump signed the CARES Act which was $2.2 trillion.
Not everything economics related has to be political. It’s a big topic.
Larry Summers isn’t all knowing. He got the housing crash of financial crisis of 2008 wrong. He was just right about this.You'll have to argue with top economists like Larry Summers who warned the administration not to do it. It was unnecessary and ended up being the major catalyst behind the inflation surge. It's not political, it's hammering everyone. Especially those on fixed incomes.
But he was right. And generally recognized as one of the country's best economists. And just about everyone got 2008 wrong. What he and I've read others told the administration was just basic economics. If it's a major law of economics that inflating the money supply causes price inflation then if you have some sense you listen to the experts.Larry Summers isn’t all knowing. He got the housing crash of financial crisis of 2008 wrong. He was just right about this.
We had been inflating the money supply like crazy since ‘08 with very little inflation.But he was right. And generally recognized as one of the country's best economists. And just about everyone got 2008 wrong. What he and I've read others told the administration was just basic economics. If it's a major law of economics that inflating the money supply causes price inflation then if you have some sense you listen to the experts.
No, we were printing money to cover our debt payments. Not the same as putting $2 trillion in stimulus payments into the public's hands.We had been inflating the money supply like crazy since ‘08 with very little inflation.
Wow. So printing money now to cover our debt payments aren’t a negative thing?No, we were printing money to cover our debt payments. Not the same as putting $2 trillion in stimulus payments into the public's hands.