@co-hoosier he’s totally worthless. And no he is not a smart guy
@bar-down Ha ha... He's smart, and he explains things well. He's a shit leader. But he isn't embarrassing to listen to. He'd be a good advisor on someone's staff, that actually has leadership and administrative abilities.
@co-hoosier I think he says quite a lot of meaningful things. He just doesn't DO anything. Academic, intellectual, for sure. Not a good practical leader. There's a place in politics for people like him, but not governing positions.
Biden’s economic screw-ups during COVID were largely temporary. I think the increase costs which many characterize as “affordability “ are deeply imbedded in the economy and won’t be reversed.
He'd be a good advisor on someone's staff,
His highest and best use is an anonymous employee at a think tank.
The cost increases from war and tariffs will subside. The other reasons for high costs are here to stay.
@co-hoosier Or maybe an advisor on a Governing staff... But yeah, that too.
Inflation and the increasing costs of living have been a given during my lifetime.
The only way to deal with inflation is to increase your income and net worth at a faster rate than the ever-increasing costs of living.
Unfortunately, all too many of us due to controllable circumstances and uncontrollable circumstances don't keep pace or exceed the rate of inflation.
Finally, rather than accept responsibility for not being able to cope with inflation we blame government, politicians, political parties, capitalism, bad luck, etc.
he reasons for increasing costs are deeply rooted in the economy and also in consumer preferences. National politics doesn’t have much to do with it.
That comment is among the most laughably ridiculous things I've ever read here, and that's saying something.
Having said all that... the affordability issues still on the Dems? Why aren't the current GOP leaders working to fix it, if so?
Trump campaigned on bringing prices down "on Day One." Instead, he's driven them higher with his tariffs and war.
Americans are going into debt to pay for food.
Grocery prices are Americans' top affordability challenge: Report
Well. What do we do then?
I've linked an article below from Yale about the risks of running incredibly large federal deficits and long term debt servicing. Our federal debt will punch through the $40tn mark later this year or early next. Debt to GDP is now in excess of 100% and rising. Interest on the debt is now a top three federal program by $$$$. Even though the US still has an independent central bank (for now) at the rudder we are experiencing higher than expected inflation AND rising interest rates. Best case scenario is a trade off but lowering both at the same time seems like a pipe dream at this point.
all this to say, we're not spending our way out of this mess. At least not government spending our way out of it. And our persistance in ignoring the radon gas that is debt in this country is borderline appalling considering the consequences that are baked in. I've said this before but we better pray and pray hard that the US wins the race to AGI b/c it might be the only fucking way to solve the debt crisis. Rising government debt has real and sharp edges to it for average Americans. It's why the DSA scares the shit out of me.
The Inflationary Risks of Rising Federal Deficits and Debt | The Budget Lab
Inflation and the increasing costs of living have been a given during my lifetime.
The only way to deal with inflation is to increase your income and net worth at a faster rate than the ever-increasing costs of living.
Unfortunately, all too many of us due to controllable circumstances and uncontrollable circumstances don't keep pace or exceed the rate of inflation.
Finally, rather than accept responsibility for not being able to cope with inflation we blame government, politicians, political parties, capitalism, bad luck, etc.
Inflation is from the Government and/or banks having the ability to create new money. It's a choice and doesn't need to happen. And it benefits those closest to the money creation at the expense of those furtherest from it (wage earners). It's unfair and something no one should accept. This is why we Bitcoin, brotha.
Americans are going into debt to pay for food.
Grocery prices are Americans' top affordability challenge: Report
Well. What do we do then?
I've linked an article below from Yale about the risks of running incredibly large federal deficits and long term debt servicing. Our federal debt will punch through the $40tn mark later this year or early next. Debt to GDP is now in excess of 100% and rising. Interest on the debt is now a top three federal program by $$$$. Even though the US still has an independent central bank (for now) at the rudder we are experiencing higher than expected inflation AND rising interest rates. Best case scenario is a trade off but lowering both at the same time seems like a pipe dream at this point.
all this to say, we're not spending our way out of this mess. At least not government spending our way out of it. And our persistance in ignoring the radon gas that is debt in this country is borderline appalling considering the consequences that are baked in. I've said this before but we better pray and pray hard that the US wins the race to AGI b/c it might be the only fucking way to solve the debt crisis. Rising government debt has real and sharp edges to it for average Americans. It's why the DSA scares the shit out of me.
The Inflationary Risks of Rising Federal Deficits and Debt | The Budget Lab
I know something that will allow you to sleep easier at night. And this is the one time it's not a BBL or a chubby 6.
@snarlcakes If you fucking say BTC I'm going to scream. If BTC is an inflation hedge please explain the last year. I'll take my answer offline. Kthxbye.
@snarlcakes If you fucking say BTC I'm going to scream. If BTC is an inflation hedge please explain the last year. I'll take my answer offline. Kthxbye.
In that case, like I told Murt before, you can leave all the chubby 6s and sats for me. The more the merrier. Expand your time horizon.