re: Senate passes “Inflation Reduction Act” - $430B and mostly climate change spending

Pretty sure that's an oxymoron.

Kevin O'Leary was just talking about how stupid it is to include EV credits when the producers can't even keep up with demand right now. Just printing more money/bumping demand. That's not deflationary.

They're adding 87,000 IRS agent positions. The whole agency only has around 80,000 employees total. This is fricking insane and should scare every single American.

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We are at the point where unproductive spending creates negative growth.

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Link?

And so we're saying that printing and spending money poorly is good policy?

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Imagine that govt spending is one of the primary drivers of inflation

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government spending is the only reason for inflation.

It’s just ones guys estimate but he calculates a $0.20 return for every dollar issued…in 2019

Looking at some long TLT options this morning. It's laughable that the federal government is passing this as inflation reduction primarily; there is only really inflationary things in this bill, outside of extremely long timelines or just arguing spending on anything is deflationary so we return back to what's in the actual bill if all spending is relatively the same deflationary force. FED is so fked and stuck.

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hey're going to bolster the IRS as well. Get ready for your audit next year as they look into your $40 venmo transactions.

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I was already audited last year. Nothing came of it. Not much to audit. lol
But i was in Limbo for months and months for no reason. My taxes are simple and can be audited in 5 mins. wasted my time and theirs.

Also I think this stupid bill just crushed the market rally. Im going back to 75% cash today.

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There is a huge movement in big, leftist run cities to minimize/eliminate gas stoves, supposedly because of emissions.

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Those idiots can enjoy their crappy electric stoves. My gas stove is far superior and costs much less to use

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this is the bill the dems chose to ram through before they lose legislation power

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They aren't losing power in either chamber. In fact they will get theb52 in the senate to kill the filibuster.

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It's a case of ideology unrelated to good sense or rational practicality. There are around 260 million vehicles in the US. If they were all replaced with EV's, I wonder how many new power plants would be needed?

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Regardless of the merits/effectiveness of the bill itself, I’m not sure I understand the question, as it seems to ignore basic economics in general.

In other words, in a scenario where 260 million cars are all EV, then in that same scenario, there would likely be far more supply of solar power, and combined with all power sources, they would likely be close to enough to meet the additional demand, if not not even more.

More particularly, in pretty much any scenario of something’s demand, there is going to be prices elasticity or that demand, and thus dependent to some degree on supply, including the supply to making that thing work. So however and whenever it gets to 260 million cars, it was partially dependent on supply.

So any question about any hypothetical that drastically changes one side of the equation, without considering both the known causes and effect of the equation, is always a poor question, and at best coming from a place of ignorance or at worst, coming from a place of dishonesty.