Joe Biden 2021

[Fudge Nuggets 19190]

4 hours ago, sidis said:

 

Time to seize the means of production and all private property.

[Fudge Nuggets 19190]

20 minutes ago, Bruh Man said:

 

Good god, why can’t both those cunts just drop fucking dead?

[Gengs1 2583]

Nothing will get passed by the Ds and Rs will get everything they want.

They will get murdered in midterms and let’s welcome trump back in 24

rinse and repeat 

Edited October 27, 2021 by Gengs1

[DalTxHornFan 3101]

13 minutes ago, Gengs1 said:

Nothing will get passed by the Ds and Rs will get everything they want.

They will get murdered in midterms and let’s welcome trump back in 24

rinse and repeat 

[fattyflattie 4639]

1 hour ago, Zepol87 said:

Barely getting by, amazing. Good for you though

Barely getting by probably a bit of a stretch but it damn sure isn’t going as far as people make it out to be. 
 

1 hour ago, Fudge Nuggets said:

Good god, why can’t both those cunts just drop fucking dead?

Those two are like the D’s version of the aggy coaster.  Godamnit they are wasting the D’s precious time. 

[gmr548 16576]

13 hours ago, DonkeyCigars said:

Is the pivot that $200k is too much to make? That’s barely getting by where I live.

Yeah, that's a you problem, regardless of location. I don't see anyone here arguing a HH income of $200k makes someone/a family unfathomably wealthy or whatever, but this is completely disingenuous nonsense that prevents any adult tax conversation on tax policy.

[Satoshi 129]

9 hours ago, fattyflattie said:

Barely getting by probably a bit of a stretch but it damn sure isn’t going as far as people make it out to be. 
 

Cmon man, one of the resident socialists here equated 200k income with buying second homes. You’ve hit the big time if you hit that number. 
 

In other news, a very curious appointment by the Biden administration to head the Office of the Comptroller of the Currency. Basically bank regulation. They essentially nominated a communist. Don’t believe me? Just read her writings. 
 

https://en.m.wikipedia.org/wiki/Saule_Omarova
 

https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3715735
 

Some of the proposals she highlights. 

 

(1) Moving all commercial bank deposits from commercial banks to so-called FedAccounts at the Federal Reserve;

(2) Allowing the Fed, in “extreme and rare circumstances, when the Fed is unable to control inflation by raising interest rates,” to confiscate deposits from these FedAccounts in order to tighten monetary policy;

(3) Allowing the most Wall Street-conflicted regional Fed bank in the country, the New York Fed, when there are “rises in market value at rates suggestive of a bubble trend,” such as with technology stocks today, to “short these securities, thereby putting downward pressure on their prices”;

(4) Eliminate the Federal Deposit Insurance Corporation (FDIC) that insures bank deposits;

(5) Consolidate all bank regulatory functions at the OCC 

She’s very unlikely to be confirmed due to these opinions, but why on Earth would someone that essentially opposes financial autonomy and privacy be appointed to such a leadership role in our government? These are frankly dangerous positions to every American. 

 

[TwiceHorn 31454]

15 hours ago, Satoshi said:

Here’s something more for the average American. 
 

How it started

 

How it’s going 

 

So definitely Joe's fault.

[Satoshi 129]

1 minute ago, TwiceHorn said:

So definitely Joe's fault.

They explicitly claimed it was his policies that were working when the 4th of July barbecue was $0.16 less than last year. Now they don’t get credit? Cmon 

[JimmyJames 12271]

Cmon man!

[TwiceHorn 31454]

6 minutes ago, Satoshi said:

They explicitly claimed it was his policies that were working when the 4th of July barbecue was $0.16 less than last year. Now they don’t get credit? Cmon 

Are you arguing that Biden is somehow unique for attempting to take credit for that he cannot?

[Js1 85316]

Why are y’all engaging a bad faith troll? 

[Incredulity 11668]

28 minutes ago, Satoshi said:

Cmon man, one of the resident socialists here equated 200k income with buying second homes. You’ve hit the big time if you hit that number. 
 

In other news, a very curious appointment by the Biden administration to head the Office of the Comptroller of the Currency. Basically bank regulation. They essentially nominated a communist. Don’t believe me? Just read her writings. 
 

https://en.m.wikipedia.org/wiki/Saule_Omarova
 

https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3715735
 

Some of the proposals she highlights. 

 

(1) Moving all commercial bank deposits from commercial banks to so-called FedAccounts at the Federal Reserve;

(2) Allowing the Fed, in “extreme and rare circumstances, when the Fed is unable to control inflation by raising interest rates,” to confiscate deposits from these FedAccounts in order to tighten monetary policy;

(3) Allowing the most Wall Street-conflicted regional Fed bank in the country, the New York Fed, when there are “rises in market value at rates suggestive of a bubble trend,” such as with technology stocks today, to “short these securities, thereby putting downward pressure on their prices”;

(4) Eliminate the Federal Deposit Insurance Corporation (FDIC) that insures bank deposits;

(5) Consolidate all bank regulatory functions at the OCC 

She’s very unlikely to be confirmed due to these opinions, but why on Earth would someone that essentially opposes financial autonomy and privacy be appointed to such a leadership role in our government? These are frankly dangerous positions to every American. 

 

That is a fucking BIZARRE nomination.   Anyone have access to the linked paper?  Eliminating the FDIC, without replacement, doesn't seem ideal.

Edited October 27, 2021 by Incredulity

[Satoshi 129]

15 minutes ago, Incredulity said:

That is a fucking BIZARRE nomination.   Anyone have access to the linked paper?  Eliminating the FDIC, without replacement, doesn't seem ideal.

There’s a link inside the link to download the whole paper. 
 

I assume if you abolish commercial banks and it’s all held by the Federal Reserve then you don’t really need the insurance?

[Incredulity 11668]

1 minute ago, Satoshi said:

There’s a link inside the link to download the whole paper. 
 

I assume if you abolish commercial banks and it’s all held by the Federal Reserve then you don’t really need the insurance?

thanks,  I  just assumed the download was fee or subscription based.

[Anastasis 23469]

15 hours ago, sidis said:

 

 

 

Is the above a better look at corporate profits (absolute dollar amounts) over time better than one than takes into account domestic economic activity increases over the same time frame?

 

 

 

Edited October 27, 2021 by Anastasis

[Js1 85316]

I see we are now in the "DO SOMETHING!!!!!!!!!!!!!!!!" phase again. 

[Incredulity 11668]

Holy Lord.

Advocating for elimination of the current private banking system with a singular Federal Bank, under the pretense that will "democratize" finance.

Disclaimed by this, "do ya think so" 

Quote

Of course, the practical implementation of this multilayered structural reform would require more granular thinking about various
legal, political, and technological issues beyond this Article’s scope
 

 

[Incredulity 11668]

2 minutes ago, Js1 said:

I see we are now in the "DO SOMETHING!!!!!!!!!!!!!!!!" phase again. 

Ya could have done 1 Trillion in infrastructure spending months ago on a bipartisan basis.  Seems like "snatching defeat from the jaws of victory" is more the phase we are in.

[Satoshi 129]

17 minutes ago, Incredulity said:

Holy Lord.

Advocating for elimination of the current private banking system with a singular Federal Bank, under the pretense that will "democratize" finance.

Disclaimed by this, "do ya think so" 

 

I like this pearl. Not dystopian at all. 
 

For U.S. citizens, Individual FedAccounts would be opened automatically upon birth or naturalization. These accounts would also be credited automatically with regularly received federal benefits: social security payments, tax refunds, and all other disbursements that depend on one’s citizenship status.

 

Sure this is all just her wet dream, but the fact that she even proposes such a centralized model says a lot. Quite “progressive”.

[Brian Fantana 6685]

23 minutes ago, Incredulity said:

Ya could have done 1 Trillion in infrastructure spending months ago on a bipartisan basis.  Seems like "snatching defeat from the jaws of victory" is more the phase we are in.

Your boy Trump literally ran on that and it turned into vaporware as soon as he won office. Weird.

[Incredulity 11668]

Just now, Brian Fantana said:

Your boy Trump literally ran on that and it turned into vaporware as soon as he won office. Weird.

but, but, but, but....Trump.

 

Strong to Charlie Strong.

[Brian Fantana 6685]

Just now, Incredulity said:

but, but, but, but....Trump.

 

Strong to Charlie Strong.

There's no but Trump beyond I seriously doubt you criticized him for immediately forgetting about his campaign promise after getting elected. Fuck Biden, I don't give a shit. The democrats are fucking this up just as badly. Just be consistent.

[Incredulity 11668]

I said MANY times Trump is a fucking idiot. 

 

I never went full libtard mental breakdown, OMRFGROURSHGHRPPGLLE!!!! TrUmp must Die!!!! LOve WINS, but must murder!!!!!!

[Brian Fantana 6685]

Are you having a stroke what the fuck

[Incredulity 11668]

2 minutes ago, Brian Fantana said:

Are you having a stroke what the fuck

['stache 21805]

12 hours ago, Fudge Nuggets said:

Time to seize the means of production and all private property.

Or, you know, just have them pay taxes and living wages, the way it was when the boomers lived well and now pretend that everyone below them is lazy.

[Goofyboy 3290]

Or, you know, just have them pay taxes and living wages, the way it was when the boomers lived well and now pretend that everyone below them is lazy.

Louder for the mouth breathers in the back.

Boomers were around when the top whatever percent were in a tax rate of 90% and they say they want to MAGA… well, let’s go!

[Incredulity 11668]

3 minutes ago, Goofyboy said:

Boomers were around when the top whatever percent were in a tax rate of 90%

[Longhorn_Fan68 33869]

[Incredulity 11668]

[RomaVicta 29907]

39 minutes ago, Incredulity said:

Remind me why we hate her?

[Incredulity 11668]

Well, first she has no soul…

[David Dennison 18856]

1 hour ago, Incredulity said:

We are undertaxed.

[sidis 9827]

1 hour ago, Anastasis said:

 

 

Is the above a better look at corporate profits (absolute dollar amounts) over time better than one than takes into account domestic economic activity increases over the same time frame?

 

 

 

both are highly relevant in different ways.  but for the preceding discussion regarding inflation, the after tax corporate profits with no adjustments for inventory value and capital consumption provides a pretty interesting look.  particularly when one simply layers on it actual inflation along with wage growth.  it begs the question from your earlier graph, if the economy is growing rapidly and the profits are generally growing rapidly along with it in significant excess of inflation, as well as wage growth, then where is the excess going?  we know the answer.

 

[Bruh Man 3160]

 

[Anastasis 23469]

10 minutes ago, sidis said:

if the economy is growing rapidly and the profits are generally growing rapidly along with it in significant excess of inflation, as well as wage growth, then where is the excess going?  we know the answer.

To the investment class?

[washparkhorn 9939]

21 minutes ago, sidis said:

if the economy is growing rapidly and the profits are generally growing rapidly along with it in significant excess of inflation, as well as wage growth, then where is the excess going?  we know the answer.

Yes we do. And it sits doing nothing - testing the credibility of the public investment multiplier effect. Easy fix - inject the free money at the human level, not the ultra-wealthy/corporation private spigot of free cash. Humans spending reestablishes the fiscal multiplier effect.

It will all trickle up anyway. It always does.

Money supply chain broken. See below.

[sidis 9827]

27 minutes ago, Anastasis said:

To the investment class?

well, a select portion of them along with select management.

[Brisketexan 105105]

48 minutes ago, washparkhorn said:

Yes we do. And it sits doing nothing - testing the credibility of the public investment multiplier effect. Easy fix - inject the free money at the human level, not the ultra-wealthy/corporation private spigot of free cash. Humans spending reestablishes the fiscal multiplier effect.

It will all trickle up anyway. It always does.

Money supply chain broken. See below.

Fantastic post.  A powerful illustration of a significant underlying flaw in the system, tied to most of the economic issues we've been discussing.

[Neonmoon 38129]

1 hour ago, sidis said:

both are highly relevant in different ways.  but for the preceding discussion regarding inflation, the after tax corporate profits with no adjustments for inventory value and capital consumption provides a pretty interesting look.  particularly when one simply layers on it actual inflation along with wage growth.  it begs the question from your earlier graph, if the economy is growing rapidly and the profits are generally growing rapidly along with it in significant excess of inflation, as well as wage growth, then where is the excess going?  we know the answer.

 

Now try and convince the MAGA on this thread that the disparity displayed on this graph is a bad thing. 

[Satoshi 129]

1 hour ago, washparkhorn said:

Yes we do. And it sits doing nothing - testing the credibility of the public investment multiplier effect. Easy fix - inject the free money at the human level, not the ultra-wealthy/corporation private spigot of free cash. Humans spending reestablishes the fiscal multiplier effect.

It will all trickle up anyway. It always does.

Money supply chain broken. See below.

I agree with you that “helicopter money” will boost velocity. But what what would happen to our current rate of 5.4% inflation after we get a boost in velocity from increased direct transfers? As this board likes to say we will FAFO. 

[mchookem 16330]

didn't somebody create an actual economy thread for all these graphs? 

[washparkhorn 9939]

26 minutes ago, mchookem said:

didn't somebody create an actual economy thread for all these graphs? 

Sneaking in this before the chart jihadists have their way . . . 

 

Deflationary headwind as seen in GDP forecast product from the Atlanta Fed.  Awful trend (GDP at less than 1), but hopefully this is transitory data skewing the model.

[DonkeyCigars 144]

6 hours ago, 'stache said:

Or, you know, just have them pay taxes and living wages, the way it was when the boomers lived well and now pretend that everyone below them is lazy.

re: Billionaire tax:

NYU finance professor Aswath Damodaran wrote that the proposal is “perhaps the worst thought-through and most ineffective attempt ever at rewriting tax code.” Questions like, “What do you do when an investment goes down?” “How would they come up with the money without selling other assets?” and, “Is this even constitutional?” are not easily answered.

[TwiceHorn 31454]

24 minutes ago, DonkeyCigars said:

re: Billionaire tax:

NYU finance professor Aswath Damodaran wrote that the proposal is “perhaps the worst thought-through and most ineffective attempt ever at rewriting tax code.” Questions like, “What do you do when an investment goes down?” “How would they come up with the money without selling other assets?” and, “Is this even constitutional?” are not easily answered.

All that's been talked through over multiple pages on this board.

[DonkeyCigars 144]

2 minutes ago, TwiceHorn said:

All that's been talked through over multiple pages on this board.

Gotcha, sorry. Been a busy week :)

[Biff Tannen 45678]

22 minutes ago, TwiceHorn said:

All that's been talked through over multiple pages on this board.

As if that has ever stopped any of us before. 

[Captainant 27659]

4 hours ago, washparkhorn said:

Yes we do. And it sits doing nothing - testing the credibility of the public investment multiplier effect. Easy fix - inject the free money at the human level, not the ultra-wealthy/corporation private spigot of free cash. Humans spending reestablishes the fiscal multiplier effect.

It's not even hyperbole to say all the extra money is doing nothing - the reverse repo market is off the fucking chart

$1,413,188,000,000

Just fucking sitting there. Doing abso-fucking-lutely nothing but accruing a teensy bit of interest for the ultra-wealthy and multinational corporation/tax haven shell company economy.

[washparkhorn 9939]

The billionaires killed the Billionaire Tax swiftly. Shocking.