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The USA is one of the few countries that would survive just fine if the global economy were to collapse. The USA produces plenty of food. The USA has ample reserves of vital commodities, particularly oil, natural gas, coal, lumber, etc. Fat, warm (cool in the summer) and happy. The rest of the world, not so much.
But the question is … with Democrats in charge, would we be able to use any of these commodities if something like this happened? I honestly think Democrats would prefer to see people live in darkness and starve before they’d ever allow use domestic of oil, natural gas, coal, and lumber. Democrats thrive on crisis and misery, so they’d probably want to keep it all going.
They have raised interest rates, but what good does that do to contain inflation when Biden's government had 459 billion dollar deficits in just 4 months up 77% from last year.
No wonder the inflation is surging out of control, they printed 459 billion dollars out of thin-air in the last 4 months.
This tremendous amount of money printing that is up 77% compared to last year will just cause more and more inflation because they are spending so much more fiat money than they are collecting via tax revenues.
Tremendous, that they had such a massive budget deficit when many had a tsunami of quarterly capital gains taxes and with so many workers paying taxes with unemployment rates supposedly being so low.
Budget deficit already at 459 billion, compared to 259 billion last fiscal year.
But the question is … with Democrats in charge, would we be able to use any of these commodities if something like this happened? I honestly think Democrats would prefer to see people live in darkness and starve before they’d ever allow use domestic of oil, natural gas, coal, and lumber. Democrats thrive on crisis and misery, so they’d probably want to keep it all going.
That's a fair question to ask. Venezuela is a resource rich nation, yet it is very poor. I hope the USA doesn't emulate that.
Luckily, democrats won't be in charge forever. I think people are already sick of democrats running the nation into the ground. The beauty of the 2 party system is we don't have to tolerate authoritarians, dictators, etc. Power is not absolute in the USA, and it's not guaranteed for any 1 leader, party. etc. When things start going downhill, people can vote for a change. I think they will do that in 2024 and put republicans in charge, because all the democrats are doing is bringing on hard times for the average American.
They have raised interest rates, but what good does that do to contain inflation when Biden's government had 459 billion dollar deficits in just 4 months up 77% from last year.
No wonder the inflation is surging out of control, they printed 459 billion dollars out of thin-air in the last 4 months.
This tremendous amount of money printing that is up 77% compared to last year will just cause more and more inflation because they are spending so much more fiat money than they are collecting via tax revenues.
Tremendous, that they had such a massive budget deficit when many had a tsunami of quarterly capital gains taxes and with so many workers paying taxes with unemployment rates supposedly being so low.
Budget deficit already at 459 billion, compared to 259 billion last fiscal year.
As long as the Federal Reserve halts QE and keeps up QT, I don't care what the US government does with deficits. Extra bonds circulating around means higher bond yields/interest rates which will naturally cause healthy economic contraction. It's the total abandonment of free market interest rates in favor of central bank suppressed interest rates from modern monetary theorists post 2008 that caused the situation we have where we are running out of ammunition to prop the system up and destroying the middle class, along with the massive concentration of wealth upward, using central bank asset purchases to suppress rates.
It's not Biden's fault. It's the Federal Reserve's fault. The central banks are the enablers, here. The republicans won't do any better, because a third of this forum and probably 3/4 of republican politicians are not fiscal conservatives, they are modern monetary theorists. Trump was a MMTer who ran as a fiscal conservative, though he had some good to great policies along the way.
Position 2 would be that modern monetary theory is fine in moderation, that QE is healthy because it keeps the system liquid, if not overdone like it was during the pandemic, that baking inflation into the system benefits us all. Targeting a specific inflation rate while keeping the system liquid is necessary. If that's true, there's a disconnect between fiscal conservatives and MMTers. This issue runs beyond political party because both parties tend to overspend to some degree, so I see no reason to specifically target one party here. In any case, inflation is far higher than 2%, and wages haven't really kept up as of yet, so this will be an interesting decade for sure, to see how central banks respond to all this and what the end result is. Still, I just get annoyed when I see people complain that the market has sold off from the stratospheric late 2021 valuations and then in the same breath complain about inflation. There's total cognitive dissonance here. Then they act like a selloff in the stratospheric housing prices is a bad thing.
I have this hunch this recession everyone is predicting won't materialize, because the herd is usually wrong in unison. Maybe I'm wrong because of the high cost of living. Time will tell. Unfortunately I believe these stratospheric housing prices are likely here to stay for awhile, and it will affect birth rates going forwards even more, if wages don't rise to compensate.
Well we are financially supporting 2 countries...our own and Ukraine.
We are also funding a war with Russia via Ukraine.
And?
Would you rather we let russia rebuild the USSR?
Would you prefer we wait like we did which allowed WWI and WWII to happen?
Some can't look beyond their own noses!
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