U.S. politics thread and Joe Biden-the Ronan O'Gara of U.S. Presidents

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TheFrog
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Re: U.S. politics thread and Joe Biden-the Ronan O'Gara of U.S. Presidents

Post by TheFrog »

Dozy wrote: Mon Apr 05, 2021 12:31 pm So Biden admin kicked off any wars yet
I've got to say, as a US tax payer, I understand this point. I am getting close to 45% of my salary getting confiscated by the Federal government and the State of Maryland, more than anything I paid in France, and I need on top of this to pay for a medical insurance and have no social protection at all.

Looking at the state of the infrastructure, I can't see where my money was invested there either...

And universities cost an arm and a leg, even "public" ones....

So I am thinking that a lot of the money i am giving away to the government here is not used on people's welfare but spent on the army and the police...
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Post by Dozy »

TheFrog wrote: Mon Apr 05, 2021 1:38 pm
Dozy wrote: Mon Apr 05, 2021 12:31 pm So Biden admin kicked off any wars yet
I've got to say, as a US tax payer, I understand this point. I am getting close to 45% of my salary getting confiscated by the Federal government and the State of Maryland, more than anything I paid in France, and I need on top of this to pay for a medical insurance and have no social protection at all.

Looking at the state of the infrastructure, I can't see where my money was invested there either...

And universities cost an arm and a leg, even "public" ones....

So I am thinking that a lot of the money i am giving away to the government here is not used on people's welfare but spent on the army and the police...
You are thinking? The whole world knows.

It's completely unsustainable too
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Re: U.S. politics thread and Joe Biden-the Ronan O'Gara of U.S. Presidents

Post by Mick Mannock »

TheFrog wrote: Mon Apr 05, 2021 1:34 pm
Mick Mannock wrote: Mon Apr 05, 2021 12:27 pm Now you are making a different argument.

And you have ignored the protectionist question entirely.
Was this message directed to me?

I am not sure about the point you make here, given that I was not debating protectionism but responding to your points.

Unless you think protectionism will make driving cheaper and strengthen the dollar?
Did you not type this?

"Where Trump handed out millions to the richest and became protectionist to address the concern of the people who voted him in, Biden is taking a completely different direction."
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Re: U.S. politics thread and Joe Biden-the Ronan O'Gara of U.S. Presidents

Post by TheFrog »

Mick Mannock wrote: Mon Apr 05, 2021 2:50 pm
TheFrog wrote: Mon Apr 05, 2021 1:34 pm
Mick Mannock wrote: Mon Apr 05, 2021 12:27 pm Now you are making a different argument.

And you have ignored the protectionist question entirely.
Was this message directed to me?

I am not sure about the point you make here, given that I was not debating protectionism but responding to your points.

Unless you think protectionism will make driving cheaper and strengthen the dollar?
Did you not type this?

"Where Trump handed out millions to the richest and became protectionist to address the concern of the people who voted him in, Biden is taking a completely different direction."
I posted a bit more than that...

And you responded to my first message talking about Biden creating a society where driving would be only for the rich and saying he would collapse the value of the $.

I responded to that response of yours and you came saying that I was making a different argument.


Excuse my being confused... :?
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Re: U.S. politics thread and Joe Biden-the Ronan O'Gara of U.S. Presidents

Post by Mick Mannock »

I accept that you may cite confusion as a reason for not wanting to address EU protectionism, having brought it up as a negative when employed by Trump.

That is fair enough. You are under no obligation.
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Re: U.S. politics thread and Joe Biden-the Ronan O'Gara of U.S. Presidents

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Mick Mannock wrote: Mon Apr 05, 2021 3:55 pm I accept that you may cite confusion as a reason for not wanting to address EU protectionism, having brought it up as a negative when employed by Trump.

That is fair enough. You are under no obligation.
So we are talking about Biden U turn in policies in the US and this has to become a EU subject?

And you wander from one agenda to another according to your own fantasies and we are supposed to read your mind?

So I should have understood your comments about driving becoming a luxury in the US, and the $ crashing as being the beginning of a debate on EU protectionism?


Also where in post did I say that Trump protectionism was a negative? (Though I do think so on many issues, not all).
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Re: U.S. politics thread and Joe Biden-the Ronan O'Gara of U.S. Presidents

Post by Jensrsa »

AOC just donated $5000 each to about 30 Dems up for election in 2022. This has put the Dems into a tailspin :lol:
As the midterm campaign’s first fundraising deadline approached this week, several vulnerable House Democrats got an unwelcome surprise in their accounts: $5,000 from Alexandria Ocasio-Cortez.

The New York Democrat sent the contributions to her colleagues to help keep the House majority ahead of a tough cycle without directly contributing to the Democratic Congressional Campaign Committee, with which she’s publicly clashed. But Ocasio-Cortez's largesse — and an oversight at the campaign headquarters — has instead raised awkward questions among her colleagues as some swing-district Democrats fret over whether to return her money before the GOP can turn it into an attack ad.
https://www.politico.com/news/2021/04/0 ... ons-478943

A shrewd move by AOC, I think. The Dems on the left already support her platform while those on the fence will be forced to get off the fence to defend accepting the donations. Sharp!
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Re: U.S. politics thread and Joe Biden-the Ronan O'Gara of U.S. Presidents

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Jensrsa wrote: Mon Apr 05, 2021 5:30 pm AOC just donated $5000 each to about 30 Dems up for election in 2022. This has put the Dems into a tailspin :lol:
As the midterm campaign’s first fundraising deadline approached this week, several vulnerable House Democrats got an unwelcome surprise in their accounts: $5,000 from Alexandria Ocasio-Cortez.

The New York Democrat sent the contributions to her colleagues to help keep the House majority ahead of a tough cycle without directly contributing to the Democratic Congressional Campaign Committee, with which she’s publicly clashed. But Ocasio-Cortez's largesse — and an oversight at the campaign headquarters — has instead raised awkward questions among her colleagues as some swing-district Democrats fret over whether to return her money before the GOP can turn it into an attack ad.
https://www.politico.com/news/2021/04/0 ... ons-478943

A shrewd move by AOC, I think. The Dems on the left already support her platform while those on the fence will be forced to get off the fence to defend accepting the donations. Sharp!
Could also hurt Democrats prospect by bringing in-fighting to the forefront?
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Re: U.S. politics thread and Joe Biden-the Ronan O'Gara of U.S. Presidents

Post by Jensrsa »

TheFrog wrote: Mon Apr 05, 2021 7:01 pm
Jensrsa wrote: Mon Apr 05, 2021 5:30 pm AOC just donated $5000 each to about 30 Dems up for election in 2022. This has put the Dems into a tailspin :lol:
As the midterm campaign’s first fundraising deadline approached this week, several vulnerable House Democrats got an unwelcome surprise in their accounts: $5,000 from Alexandria Ocasio-Cortez.

The New York Democrat sent the contributions to her colleagues to help keep the House majority ahead of a tough cycle without directly contributing to the Democratic Congressional Campaign Committee, with which she’s publicly clashed. But Ocasio-Cortez's largesse — and an oversight at the campaign headquarters — has instead raised awkward questions among her colleagues as some swing-district Democrats fret over whether to return her money before the GOP can turn it into an attack ad.
https://www.politico.com/news/2021/04/0 ... ons-478943

A shrewd move by AOC, I think. The Dems on the left already support her platform while those on the fence will be forced to get off the fence to defend accepting the donations. Sharp!
Could also hurt Democrats prospect by bringing in-fighting to the forefront?
Maybe. But the GQP was always going to attack the "Socialist" Dem party anyway. It's all about the spin as AOC/Sanders platform points are popular with the majority of Americans according to polls - $15 min. wage, M4A, Free/Affordable education, Renewable energy, etc.

AOC seems to have decided to force these issues to the front of the line
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Re: U.S. politics thread and Joe Biden-the Ronan O'Gara of U.S. Presidents

Post by fatcat »

Biden given 4 Pinocchios by The Washington Post for his lies about the changes to Georgia's election laws. Unity Joe to the fore.
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Re: U.S. politics thread and Joe Biden-the Ronan O'Gara of U.S. Presidents

Post by puku »

Mick Mannock wrote: Mon Apr 05, 2021 12:05 pm He is certainly creating an society where only the rich will be able to afford to drive.

He is also going to collapse the value of the $.

As for protectionism, I guess when Trump engaged in this it was bad, but EU protectionism is super-duper.
Are you sure Mick? Can only the rich afford to drive in the UK? After all, a gallon of gas costs nearly twice as much in the UK as it does in the US (Average cost there Mick...Cali prices are much higher, yet still regular folks can afford to drive there too).

When is the crash going to happen? Since inauguration it is essentially flat against the pound and has ticked up a bit against the Euro.
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Re: U.S. politics thread and Joe Biden-the Ronan O'Gara of U.S. Presidents

Post by piquant »

There are some fair concerns that Biden is opting to take on several new mountains of debt, but those are conceptual concerns, nobody actually knows when problems will kick in, and if there are going to be problems faced by governments following such calls the USA is best placed to avoid some of the kickings that might follow on
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Re: U.S. politics thread and Joe Biden-the Ronan O'Gara of U.S. Presidents

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Mick Mannock wrote: Mon Apr 05, 2021 3:55 pm I accept that you may cite confusion as a reason for not wanting to address EU protectionism, having brought it up as a negative when employed by Trump.

That is fair enough. You are under no obligation.
May be it is because you added the protectionism comment after I had already quoted your message?

Didn't you come back and edit your message after posting it?
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Re: U.S. politics thread and Joe Biden-the Ronan O'Gara of U.S. Presidents

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Mick Mannock wrote: Mon Apr 05, 2021 12:36 pm No, but if the USA does go to war, I am confident Biden will be informed
I thought Biden was in the pocket of the Chinese and would do their bidding? SO logically what this means is he stays out of Russias way in Ukraine?
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MrDominator wrote: Wed Mar 31, 2021 3:37 pm So much for 'Irish Joe' - you lads are f**ked :lol:

https://www.irishtimes.com/business/eco ... -1.4525075
The Republic’s 12.5 per cent corporate tax rate is facing a new threat, with the US signalling its support today for a global minimum corporate tax rate of 21 per cent on its companies . Proposals emerging today from the White House say the US administration intends to push for this new global minimum rate in the US.

While details have yet to be spelled out, the move relates to proposals to increase the tax charged on foreign earnings of US companies and to tighten the rules significantly. A vital change would be that the tax would apply in future on all earnings and not just on earnings above a 10 per cent rate, as happens currently. This would mean that US companies here would face additional payments on tax paid at the Irish 12.5 per cent rate on a lot of their earnings.

US companies are by far the biggest investors here, so if this proposal is passed is would damage the strategy of using low tax to attract American investment to the Republic. It is also likely to signal US support for a high global minimum corporate tax rate at OECD talks now underway. The concept of a global minimum tax rate has been part of OECD negotiations on global corporate tax reform for some time, but the general expectation was that it would be set at around the State’s current rate of 12.5 per cent.
But don't worry lads - he'll still listen to the bagpipes :lol:
Same as it ever was

https://twitter.com/SMTuffy/status/1379 ... 71716?s=20
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Re: U.S. politics thread and Joe Biden-the Ronan O'Gara of U.S. Presidents

Post by Mick Mannock »

paddyor wrote: Tue Apr 06, 2021 4:26 am
Mick Mannock wrote: Mon Apr 05, 2021 12:36 pm No, but if the USA does go to war, I am confident Biden will be informed
I thought Biden was in the pocket of the Chinese and would do their bidding? SO logically what this means is he stays out of Russias way in Ukraine?
Did I mention Ukraine?
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Was he lying, or just forgot what he said?

https://twitter.com/lourdesgnavarro/sta ... 6915057669

He had better issue an order to build nothing

https://americanmilitarynews.com/2021/0 ... port-says/
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Re: U.S. politics thread and Joe Biden-the Ronan O'Gara of U.S. Presidents

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Hilarious that people still haven't seen through AOC and the squad as the controlled internal opposition that they are.

They had SO MUCH LEVERAGE to get shit done.

Didn't use it at all
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Re: U.S. politics thread and Joe Biden-the Ronan O'Gara of U.S. Presidents

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DragonKhan wrote: Tue Apr 06, 2021 4:49 pm Hilarious that people still haven't seen through AOC and the squad as the controlled internal opposition that they are.

They had SO MUCH LEVERAGE to get shit done.

Didn't use it at all
Oh, they're using it.

You can see it in the components of the ARP and now in the Build Back Plan too but they are pragmatic enough not to use it to split the DP and lose their Congress majorities in the House and Senate
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Re: U.S. politics thread and Joe Biden-the Ronan O'Gara of U.S. Presidents

Post by Mick Mannock »

Biden disputes The first law of thermodynamics.

He assures us that raising taxes will create more energy. :lol:

This old fool gets a free pass because...pussy grab...or something.
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Jensrsa wrote: Tue Apr 06, 2021 6:10 pm
DragonKhan wrote: Tue Apr 06, 2021 4:49 pm Hilarious that people still haven't seen through AOC and the squad as the controlled internal opposition that they are.

They had SO MUCH LEVERAGE to get shit done.

Didn't use it at all
Oh, they're using it.

You can see it in the components of the ARP and now in the Build Back Plan too but they are pragmatic enough not to use it to split the DP and lose their Congress majorities in the House and Senate
15 dollar minimum wage has overwhelming support even on fox news polls. They ain't doing shit and when called out on it call it "violence"
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Re: U.S. politics thread and Joe Biden-the Ronan O'Gara of U.S. Presidents

Post by Short Man Syndrome »

On a positive note, spittle-flecking, swivel-eyed loon and Neckbeard pin-up Alex Jones looks like he will definitely be chowing down on cellmate boner after the SC declined to hear his appeal in the Sandy Hook case.

https://twitter.com/ronfilipkowski/stat ... 96617?s=21
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Post by Jensrsa »

DragonKhan wrote: Tue Apr 06, 2021 8:40 pm
Jensrsa wrote: Tue Apr 06, 2021 6:10 pm
DragonKhan wrote: Tue Apr 06, 2021 4:49 pm Hilarious that people still haven't seen through AOC and the squad as the controlled internal opposition that they are.

They had SO MUCH LEVERAGE to get shit done.

Didn't use it at all
Oh, they're using it.

You can see it in the components of the ARP and now in the Build Back Plan too but they are pragmatic enough not to use it to split the DP and lose their Congress majorities in the House and Senate
15 dollar minimum wage has overwhelming support even on fox news polls. They ain't doing shit and when called out on it call it "violence"
Of course they did. They added it to the bill in the House but It was scrapped in the Senate and rather than block the whole bill and the support the people needed when it went back to the House, they approved the support that the public immediately needed.

BTW, 21 States increased or are increasing their minimum wages in 2021 and a number of corporates have upped their minimum wages too. The minimum wage debate is very much on the foreground now, especially with the 2022 elections coming up
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Image

I wonder what Psaki will describe the wall as
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Re: U.S. politics thread and Joe Biden-the Ronan O'Gara of U.S. Presidents

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piquant wrote: Tue Apr 06, 2021 1:09 am There are some fair concerns that Biden is opting to take on several new mountains of debt, but those are conceptual concerns, nobody actually knows when problems will kick in, and if there are going to be problems faced by governments following such calls the USA is best placed to avoid some of the kickings that might follow on
The era of MMT is quite interesting. Looking at the debt taken on by developed nations, alongside the large amounts of QT, there should be effects in the system. However, inflation remains low (outside of Japan who successfully devalued). Is argue that increased government debt will be a slow burn issue, draining future abilities to invest due to increased interest payments. Not an issue if the debt provides infrastructure for growth (not certain it does though.

The bigger concern for me is the QT, which idiots and nutters the world round are using to justify magic money trees with zero inflationary consequences. The key forgotten is here is that our modern economy is very complex, and the QT needn't enter M1, or 2.

So where does this inflationary pressure go? Just look at the stock market. And when boomers die and pass on their wealth, broke millennials will spend it all in the real economy. This for me is the key economic worry for Biden. But I feel the policies to prevent it will prove too unpopular and the can will be kicked. Due he'll be dead as soon as that bird comes home to roost.
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Post by Ted. »

fatcat wrote: Mon Apr 05, 2021 11:34 pm Biden given 4 Pinocchios by The Washington Post for his lies about the changes to Georgia's election laws. Unity Joe to the fore.
An excellent improvement over the previous fella. Well done Joe. :thumbup:
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Post by paddyor »

DragonKhan wrote: Tue Apr 06, 2021 4:49 pm Hilarious that people still haven't seen through AOC and the squad as the controlled internal opposition that they are.

They had SO MUCH LEVERAGE to get shit done.

Didn't use it at all
Did they? WHat leverage exactly? Like the kind of leverage Manchin or Sinema had? They got absolutely crushed in the primaries.
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Mick Mannock wrote: Tue Apr 06, 2021 8:15 am
paddyor wrote: Tue Apr 06, 2021 4:26 am
Mick Mannock wrote: Mon Apr 05, 2021 12:36 pm No, but if the USA does go to war, I am confident Biden will be informed
I thought Biden was in the pocket of the Chinese and would do their bidding? SO logically what this means is he stays out of Russias way in Ukraine?
Did I mention Ukraine?
You mentioned war and currently it's looking like something could happen with Russia in Ukraine.

SO am i right in saying you're pivoting away from Biden is a chinese stooge to the entire US defense establishment is a stooge except when it's not and acts in a way that would annoy the chinese by going to war with their allies the Russians? Everything is so clear to you.
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Ted. wrote: Wed Apr 07, 2021 2:22 am
fatcat wrote: Mon Apr 05, 2021 11:34 pm Biden given 4 Pinocchios by The Washington Post for his lies about the changes to Georgia's election laws. Unity Joe to the fore.
An excellent improvement over the previous fella. Well done Joe. :thumbup:
Indeed. If I remember correctly Trump was averaging more than 50 or 60 false or misleading claims a day at one stage. And the overall number while in office was huge. 30 573 according to google. So an average of over 21 per day over his entire term.
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Re: U.S. politics thread and Joe Biden-the Ronan O'Gara of U.S. Presidents

Post by Mick Mannock »

paddyor wrote: Wed Apr 07, 2021 3:24 am
Mick Mannock wrote: Tue Apr 06, 2021 8:15 am
paddyor wrote: Tue Apr 06, 2021 4:26 am
Mick Mannock wrote: Mon Apr 05, 2021 12:36 pm No, but if the USA does go to war, I am confident Biden will be informed
I thought Biden was in the pocket of the Chinese and would do their bidding? SO logically what this means is he stays out of Russias way in Ukraine?
Did I mention Ukraine?
You mentioned war and currently it's looking like something could happen with Russia in Ukraine.

SO am i right in saying you're pivoting away from Biden is a chinese stooge to the entire US defense establishment is a stooge except when it's not and acts in a way that would annoy the chinese by going to war with their allies the Russians? Everything is so clear to you.
I answered someone else mentioning war.

I did not suggest where that war might take place.

Everything is not clear to me. Is everything clear to you? If so, well done to you.
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Re: U.S. politics thread and Joe Biden-the Ronan O'Gara of U.S. Presidents

Post by piquant »

Newby1 wrote: Tue Apr 06, 2021 11:47 pm
piquant wrote: Tue Apr 06, 2021 1:09 am There are some fair concerns that Biden is opting to take on several new mountains of debt, but those are conceptual concerns, nobody actually knows when problems will kick in, and if there are going to be problems faced by governments following such calls the USA is best placed to avoid some of the kickings that might follow on
The era of MMT is quite interesting. Looking at the debt taken on by developed nations, alongside the large amounts of QT, there should be effects in the system. However, inflation remains low (outside of Japan who successfully devalued). Is argue that increased government debt will be a slow burn issue, draining future abilities to invest due to increased interest payments. Not an issue if the debt provides infrastructure for growth (not certain it does though.

The bigger concern for me is the QT, which idiots and nutters the world round are using to justify magic money trees with zero inflationary consequences. The key forgotten is here is that our modern economy is very complex, and the QT needn't enter M1, or 2.

So where does this inflationary pressure go? Just look at the stock market. And when boomers die and pass on their wealth, broke millennials will spend it all in the real economy. This for me is the key economic worry for Biden. But I feel the policies to prevent it will prove too unpopular and the can will be kicked. Due he'll be dead as soon as that bird comes home to roost.
Broadly agree, though has anyone actually said how they're going to have QT function? I mean it's all very well cracking on with some redemptions, but where's that money coming from?

I suspect in the main we're looking at some very different outcomes for different economies around their use of QE/QT (again not that we know how the Fed, the ECB and so on will yet pursue QT). I've long had a concern around the use of debt in retail and government use, but it's hard to argue what the upper limits of debt should be when debt keeps exploding upwards and things just carry on, surely there's a problem coming at some point (although who knows, maybe not), the query then is whether there'll be the time (and will) to respond or will it be over the cliff edge territory.
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Post by fatcat »

Ted. wrote: Wed Apr 07, 2021 2:22 am
fatcat wrote: Mon Apr 05, 2021 11:34 pm Biden given 4 Pinocchios by The Washington Post for his lies about the changes to Georgia's election laws. Unity Joe to the fore.
An excellent improvement over the previous fella. Well done Joe. :thumbup:
Indeed. It's improvementing and thumbs-uppy all round. Encouraging MLB to move their all-stars game, and the potential $100m revenue, from Atlanta (54% black), Georgia (one third black) to Denver (10% black), Colorado (4% black) was an inspired bit of unity and healing. :thumbup:
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Re: U.S. politics thread and Joe Biden-the Ronan O'Gara of U.S. Presidents

Post by Newby1 »

piquant wrote: Wed Apr 07, 2021 9:09 am
Newby1 wrote: Tue Apr 06, 2021 11:47 pm
piquant wrote: Tue Apr 06, 2021 1:09 am There are some fair concerns that Biden is opting to take on several new mountains of debt, but those are conceptual concerns, nobody actually knows when problems will kick in, and if there are going to be problems faced by governments following such calls the USA is best placed to avoid some of the kickings that might follow on
The era of MMT is quite interesting. Looking at the debt taken on by developed nations, alongside the large amounts of QT, there should be effects in the system. However, inflation remains low (outside of Japan who successfully devalued). Is argue that increased government debt will be a slow burn issue, draining future abilities to invest due to increased interest payments. Not an issue if the debt provides infrastructure for growth (not certain it does though.

The bigger concern for me is the QT, which idiots and nutters the world round are using to justify magic money trees with zero inflationary consequences. The key forgotten is here is that our modern economy is very complex, and the QT needn't enter M1, or 2.

So where does this inflationary pressure go? Just look at the stock market. And when boomers die and pass on their wealth, broke millennials will spend it all in the real economy. This for me is the key economic worry for Biden. But I feel the policies to prevent it will prove too unpopular and the can will be kicked. Due he'll be dead as soon as that bird comes home to roost.
Broadly agree, though has anyone actually said how they're going to have QT function? I mean it's all very well cracking on with some redemptions, but where's that money coming from?

I suspect in the main we're looking at some very different outcomes for different economies around their use of QE/QT (again not that we know how the Fed, the ECB and so on will yet pursue QT). I've long had a concern around the use of debt in retail and government use, but it's hard to argue what the upper limits of debt should be when debt keeps exploding upwards and things just carry on, surely there's a problem coming at some point (although who knows, maybe not), the query then is whether there'll be the time (and will) to respond or will it be over the cliff edge territory.
I actually think the USA could be in the worst position with regards to this. The dollar is already weakening slightly, and the inflation in their stock markets is amongst the highest in the developed world (barely affected by the crisis). When that all gets liquidised there's the mother of all injections into the real economy (potentially when inflationary pressure is already high) and some firms may struggle to stay liquid.

On the other hand, other countries have different issues. China has a hidden debt crisis and a crazy housing market (mortgages around 12 times average rent, apartments in SZ can sell for 3 times the equivalent price in NY despite an average salary of $12k...).

The key thing here is how to slowly let the site out of these bubbles. I can't see a way, and any solution is likely to be unpopular. Not great for a country solidly divided and a president with pressures on both sides.
piquant
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Re: U.S. politics thread and Joe Biden-the Ronan O'Gara of U.S. Presidents

Post by piquant »

Newby1 wrote: Wed Apr 07, 2021 3:50 pm
piquant wrote: Wed Apr 07, 2021 9:09 am
Newby1 wrote: Tue Apr 06, 2021 11:47 pm
piquant wrote: Tue Apr 06, 2021 1:09 am There are some fair concerns that Biden is opting to take on several new mountains of debt, but those are conceptual concerns, nobody actually knows when problems will kick in, and if there are going to be problems faced by governments following such calls the USA is best placed to avoid some of the kickings that might follow on
The era of MMT is quite interesting. Looking at the debt taken on by developed nations, alongside the large amounts of QT, there should be effects in the system. However, inflation remains low (outside of Japan who successfully devalued). Is argue that increased government debt will be a slow burn issue, draining future abilities to invest due to increased interest payments. Not an issue if the debt provides infrastructure for growth (not certain it does though.

The bigger concern for me is the QT, which idiots and nutters the world round are using to justify magic money trees with zero inflationary consequences. The key forgotten is here is that our modern economy is very complex, and the QT needn't enter M1, or 2.

So where does this inflationary pressure go? Just look at the stock market. And when boomers die and pass on their wealth, broke millennials will spend it all in the real economy. This for me is the key economic worry for Biden. But I feel the policies to prevent it will prove too unpopular and the can will be kicked. Due he'll be dead as soon as that bird comes home to roost.
Broadly agree, though has anyone actually said how they're going to have QT function? I mean it's all very well cracking on with some redemptions, but where's that money coming from?

I suspect in the main we're looking at some very different outcomes for different economies around their use of QE/QT (again not that we know how the Fed, the ECB and so on will yet pursue QT). I've long had a concern around the use of debt in retail and government use, but it's hard to argue what the upper limits of debt should be when debt keeps exploding upwards and things just carry on, surely there's a problem coming at some point (although who knows, maybe not), the query then is whether there'll be the time (and will) to respond or will it be over the cliff edge territory.
I actually think the USA could be in the worst position with regards to this. The dollar is already weakening slightly, and the inflation in their stock markets is amongst the highest in the developed world (barely affected by the crisis). When that all gets liquidised there's the mother of all injections into the real economy (potentially when inflationary pressure is already high) and some firms may struggle to stay liquid.

On the other hand, other countries have different issues. China has a hidden debt crisis and a crazy housing market (mortgages around 12 times average rent, apartments in SZ can sell for 3 times the equivalent price in NY despite an average salary of $12k...).

The key thing here is how to slowly let the site out of these bubbles. I can't see a way, and any solution is likely to be unpopular. Not great for a country solidly divided and a president with pressures on both sides.

There many speculative arguments out there. Often very well researched, but highly contradictory, and they can't all be right, probably.

As for the US, well they're certainly in a pickle, but they're also very well placed to get away with an awful lot more.

As ever we're probably vastly over assuming near term changes and vastly misreading and underestimating longer term change.
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Re: U.S. politics thread and Joe Biden-the Ronan O'Gara of U.S. Presidents

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fatcat wrote: Wed Apr 07, 2021 10:41 am
Ted. wrote: Wed Apr 07, 2021 2:22 am
fatcat wrote: Mon Apr 05, 2021 11:34 pm Biden given 4 Pinocchios by The Washington Post for his lies about the changes to Georgia's election laws. Unity Joe to the fore.
An excellent improvement over the previous fella. Well done Joe. :thumbup:
Indeed. It's improvementing and thumbs-uppy all round. Encouraging MLB to move their all-stars game, and the potential $100m revenue, from Atlanta (54% black), Georgia (one third black) to Denver (10% black), Colorado (4% black) was an inspired bit of unity and healing. :thumbup:
Meaningless stats unless you consider Atlanta's income distribution and income inequality, the worst in the US, and who owns the concessions at the stadium for the All Stars game.

Image
https://www.ajc.com/news/local/atlanta- ... er%20year.
The median household income for a White family is $83,722 compared to $28,105 for a Black family.

...

The average African American-owned business is valued at $58,085 while the average value of a White business is $658,264.
https://www.atlantawealthbuilding.org/racial-wealth-gap

I doubt that many black owned businesses own concessions at the stadium
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Re: U.S. politics thread and Joe Biden-the Ronan O'Gara of U.S. Presidents

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Fair play to Moscow Mitch for coming out and saying corporate CEOs should stay out of politics however, the brazen hypocrisy is impressive for all he's a shocking failure as a human.
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Re: U.S. politics thread and Joe Biden-the Ronan O'Gara of U.S. Presidents

Post by paddyor »

Mick Mannock wrote: Wed Apr 07, 2021 8:34 am
I answered someone else mentioning war.

I did not suggest where that war might take place.

Everything is not clear to me. Is everything clear to you? If so, well done to you.
You've repeatedly claimed Biden was a Chinese stooge like it was blinding obvious.
Mick Mannock
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Re: U.S. politics thread and Joe Biden-the Ronan O'Gara of U.S. Presidents

Post by Mick Mannock »

paddyor wrote: Wed Apr 07, 2021 7:13 pm
Mick Mannock wrote: Wed Apr 07, 2021 8:34 am
I answered someone else mentioning war.

I did not suggest where that war might take place.

Everything is not clear to me. Is everything clear to you? If so, well done to you.
You've repeatedly claimed Biden was a Chinese stooge like it was blinding obvious.
That has nothing to do with what I wrote.
piquant
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Re: U.S. politics thread and Joe Biden-the Ronan O'Gara of U.S. Presidents

Post by piquant »

Ah, the Trump defence, what you say has nothing to do with what you say
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