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re: Trumps plan to defeat inflation - What do yall think?
Posted on 9/13/24 at 10:53 am to OccamsStubble
Posted on 9/13/24 at 10:53 am to OccamsStubble
quote:
Physics stops this train. Nothing stops physics.
Of course. Whatever is at the end of the tracks, a cliff, a wall, etc...will eventually stop it but we will continue to accelerate towards whatever that is until we hit it.
0
Posted on 9/13/24 at 1:47 pm to boomtown143
Wait, is that his “concept of a plan?”
Posted on 9/13/24 at 2:02 pm to Bard
quote:
Going off last year's official budget, it would take a cut to total spending of ~28% just to balance last year's budget and it's nearly $1.7T deficit spending. This year we're looking at deficit spending of somewhere over $2T so FY2024
Speaking of debt and deficits...
Loading Twitter/X Embed...
If tweet fails to load, click here. Last year, it took until December to reach $1T in servicing costs. Before that, annual servicing costs had never hit $1T.
At this rate, we'll be lucky if the USD hasn't crashed by 2030.
Posted on 9/13/24 at 4:39 pm to Bard
quote:
At this rate, we'll be lucky if the USD hasn't crashed by 2030.
That's up to the bond market. How long will they sit at the card table before realizing that they're the sucker? Financial repression on an order of magnitude we haven't seen since the 40s is coming and soon. It's just math, and relatively simple math at that.
August numbers are hysterical.
tax receipts: $307B
spending: $687B
deficit: $380B
This is for August, lol. Personally, I think if you own sovereign debt with a duration greater than 2 years you need your head examined and it's only a matter of time before the entire market comes to that conclusion. When that happens all duration ends up on the Fed's balance sheet and we start funding even more exclusively on the short end at higher rates with inflation that makes covid look mild.
Posted on 9/16/24 at 6:53 am to achenator
Re tariffs: manufacturers have the option of lowering prices so that after the tariff, the price is the still the same as before tariffs. In a command economy like China, where the cost of the product is naturally distorted by the government, this is the likely outcome.
Posted on 9/19/24 at 11:55 am to boomtown143
Anyone see Trump promising to cap credit card interest rates at 10%?
Not that he can do that, but that's, um, inflationary.
Not that he can do that, but that's, um, inflationary.
Posted on 9/19/24 at 2:16 pm to Big Scrub TX
The only thing he and Kamala haven't promised is a chicken in every pot.
Posted on 9/19/24 at 2:27 pm to Big Scrub TX
quote:
Anyone see Trump promising to cap credit card interest rates at 10%?
Not that he can do that, but that's, um, inflationary.
Yield curve control for consumers, lol.
Posted on 9/19/24 at 4:19 pm to Art Blakey
quote:
August numbers are hysterical.
tax receipts: $307B
spending: $687B
deficit: $380B
Something has to give, preferably two things have to give.
One, we can't keep cutting taxes. Used to be that cutting taxes was a tool to spur economic activity. It seems that now it's just a carrot used to get reelected. I mean, Trump has now said no taxes on Social Security checks and no taxes on tips. Oh, and he wants to give general income tax cuts and further corporate tax cuts as well. How? Lord knows Kamala would push for yet MORE benefits for the middle and below. Stop the madness!
On the other hand, we need responsible officials to cut down on spending. Someone mentioned earlier how non-discretionary spending is, far and away, our biggest spend. Gotta stop generational welfare, systemic abuse of entitlements, and get serious about able-bodied people getting to work. We need to cut defense spending considerably...no reason we should be dropping nearly $1T/yr on defense. Lord knows there's plenty to cut.
Bard up above didn't mention Obama's second term. Thanks to sequestration, a moderate POTUS with a GOP Congress, our deficit spending shrank considerably, to under 3% of GDP. Sequestration was UGLY, but it sure as hell did manage to drastically cut spending while there were no ridiculous, unnecessary tax cuts in place at the same time. The results show we can be more balanced.
Posted on 9/19/24 at 4:34 pm to Big Scrub TX
quote:
Not that he can do that, but that's, um, inflationary
How would it be inlationary when the cards are all maxxed
Posted on 9/19/24 at 4:37 pm to mmmmmbeeer
quote:
quote:Middle America wins, Wall St and DC lose Which means it will never happen. Trump sides with whomever can enrich him, personally, the most.
lies and projection
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