Biden’s economy

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12/05/2023 22:26

Subject: Biden’s economy

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Anonymous wrote:Yep, everything is awesome and people are just too dumb to realize how great things are.

“ The typical American cannot afford to buy a home in a growing number of communities across the nation, according to common lending standards.

That's the main takeaway from a new report from real estate data provider ATTOM. Researchers examined the median home prices last year for roughly 575 U.S. counties and found that home prices in 99% of those areas are beyond the reach of the average income earner, who makes $71,214 a year, according to ATTOM.”

https://www.cbsnews.com/amp/news/homes-for-sale-affordable-housing-prices/

What’s the equivalent of let them eat cake for housing?

So you prefer lowered lending standards that cause market crashes?

You think the president sets lending rates?

The * President spends/gives away money for his ideological pet projects (climate change, subsidies to green energy, promising student loan forgiveness, American "Rescue" Plan to drop money from helicopters for votes, etc., etc.), and then the treasury creates money out of thin air and gives it to the federal reserve, thus lowering the value of the US dollar.

* Remember, this is the guy who wanted to spend $845 BILLION on his so called "Global Poverty Act" when he entered the White House as Vice President to Obama. So take $845 BILLION of U.S. tax payer money and helicopter it onto the world. For what? Does any other country in the world do this welfare mentality crap?

You understand, those spending bills have kept inflation in check right? Particularly as compared to the other industrialized countries. If they hadn't passed those bills, our economy would be in the dumpster right now.

Please explain the mechanics by which printing money out of thin air keeps inflation in check.

Currency is valued according to its rarity. The more you produce, the less value it has. That's just a fact. This is basic stuff.

Money isn’t printed out of thin air and most of it is invested in programs and policies that multiply benefits in the economy. Why do you clowns always think that defense spending and corporate subsidies create jobs and economic benefits but funds spent on healthcare, education, housing, infrastructure, etc. directly to local governments, hospitals and other medical providers, schools and colleges, institutions, nonprofits, contractors etc., are not as beneficial and in fact are much more efficient contributors to the economy?

It's not "invested". This is your ideology talking. It's spending money we don't have, so we're creating it out of thin air and devaluing the dollar in the process. Each dollar becomes worth less and therefore goods and services become more expensive.

Oh yeah, it's invested alright. Kamala just promised ANOTHER 3 Billion to countries around the world. We're going broke and the White House is throwing around money we don't have everyday for their pet projects.

Follow the money. Money spent on beneficial projects and services goes directly into local economies. It provides jobs and adds value to the community.

That isn’t what caused inflation. Inflation was global and was worse elsewhere. Inflation was caused by Covid shutting down the global economy for months while Trump’s tariffs were destroying supply chains.

it's beneficial to you, but apparently no one els,e because it's not getting done unless you CONFISCATE earnings from people by FORCE and impose your will. Got it?

Don't tell me I don't understand inflation. Just because you are economically illiterate doesn't mean everyone is.

When government invests in roads, bridgesm ports and tunnels, it makes it possible for private businesses to ship things to consumers. Further, the people actually fixing the roads and building the bridges get paid. That money goes back into retail, services and investments. Is that not beneficial?
When government funds DARPA and the internet is created, new businesses are formed and new opportunities created, and the wealth from those opportunities are many times the value of the original investment. That wealth is part of our GDP.

I could go on, but there have been a lot of studies around government investment and the follow on positive impact on an economy. I mean, even businesses like the rules so they can maximize their effort within boundaries. If a business in one state can pollute and have lower cost to produce than another company in a different state, that is a problem. Ergo, having uniform rules across states levels the playing field.

But sure, let's just have no rules and have money backed by gold bars.

1) First of all, get your terminology straight. It's NOT "investing". It's spending. PERIOD.
2) Yes, people that fix the roads and bridges get paid. Both the guy filling the pothole and the three guys leaning on a shovel chatting about last night's NFL game get paid. Government is EXTREMELY inefficient. By the time the bridge gets built with cost overruns, it's been paid for three times over. Just look at Boston's "Big Dig".
3) Let private companies fund the R&D. The more you propose, the more they foist cost on the tax payer and walk away with the profits. Some grease is necessary - but NOT like what we do today with these public/private partnerships. It has become a self-licking ice cream cone.
4) We have a national debt of $101,000 for each and every person in the country (or $260,000 for each and every actual tax payer). All from government numbers available at www.usdebtclock.org. What's the plan for at least keeping that manageable? Just keep going like this? We're sinking. You don't get that, do you? Everything has limits.