You borrow all that money with no means to pay it back? And you are talking Trillions with a capital T
Who exactly would be leaning that money to us? Answer the Suadis and Chinese. Piss them off and they sell the debt for political reasons and we are talking Great Depression 2.
Inflation would skyrocket, the value of the dollar would drop like a rock and our stock market would drop.
Brilliant Matt just Brillant. The liberal answer to every and anything is to spend money
You've been saying inflation would be up for a while now and it's been stuck below the Fed's 2% target for years.
We need more inflation. It increases incomes, makes U.S. Goods cheaper on the world market, makes it easier to pay debts, and increases interest rates on bank accounts.
Inflation is too low right now (especially after Brexit). Other countries holding our debt is an advantage because they won't attack a country they're monetarily tied to. Not sure you're seeing the picture clearly here, Coach. Or maybe you are: low inflation helps people who already have money, and with your sweet stock picks, you'll be Warren Buffett in no time.
Inflation hurts the poor and uneducated the most Matt. Yes bank depsosits go up but at less than inflation which causes a decline in spending power. It also makes everything especially energy and food much more expensive and wages always lag behind it. If you blow up the dollar with debt you risk oil being sold in other currency's besides dollars and then we are totally F-ed. Please stay away from economics you truely lack an education and understanding of how it really works.
You expressed the exact liberal / socalst mindset to just send and print more money which is why it's a huge mistake to let liberals run our country.
"It is better to go skiing and think of God, than go to church and think of sport."
Artic Explorer Fridtjof Nansen
For its part, the Fed has stuck to a position that it is confident that, despite the current downward pressures, inflation is on a longer-term trajectory toward the 2 percent target. That's been a harder sell lately.
Wells Fargo strategists on Tuesday retreated from their hopes that inflation would hit 2 percent by year's end, lowering their forecast to 1.4 percent even though they agreed with the Fed's opinion that falling energy prices are "transitory."
If legit, the numbers are stunning. I assumed it was lopsided but wow.
I can't vouch for the stats but the conclusions agree with what I see as I visit with people across America. Both Matt & Z are college educated and neither really got hurt in the recession and both are doing very well so although they look at it from polar views, neither really understand the issues. A lot of this thread was about how trades people are in short supply, this is partially true but if you want to be a licensed plumper or electrician you usually need to go to trade school and this can take a year or two, a skilled carpenter needs training as well. This takes time and money that a lot of the working poor do not have, they are stuck in a cycle of poverty. If we really need more of these people would anyone object to trade schools being free, I wouldn't?
Now with that said, there are not enough of those jobs to go around either, it is the loss of the manufacturing jobs that is killing the under educated. Now if you look at people in the energy sector, Shell, Chevron, & XOM have laid off over 50% of their work force in the US over the past 2 years, not just field workers but geologists, computer scientists & office support staff. Houston has huge amounts of empty office space and it has rippled down into the economy. I can believe that the under educated have not recovered but what I think you don't see is that many of the middle class and upper middle class have been dropped down a peg or two as their post recession jobs pay far less than what they had before. Engineering jobs have gone to China and India - these jobs are easy to export and pay in these professions has dropped.
So no wonder 90% of the people are pissed.
I urge you to look at the statistics on this web site:
http://inequality.org/income-inequality/ This clearly shows the impact that Regan had and continues to have, it is why I changed my stance from looking at him as a great president to one that has destroyed the middle class as well as the republican party.
So it's not that the poor are poorer, it's that they have not shared in the growth. The other half of the story is that with this growing disparity 90% of the population has lost any political power, any say in the direction of government and the wealthy and politically connected can get away with crimes with impunity as we now so clearly see.
These are the seeds for a social revolution, it will be disruptive, the sooner it comes the less disruptive it will be. I am hoping we can get some changes in this election that will start us down this path before it is highly disruptive. Bernie would have been mildly disruptive, Trump will be more so but still he is better than what is liable to come if no change occurs. Clinton will be the F'ing disaster - she represents everything that is wrong with the current conditions.
This year it is not about policies - it is about political change and the 90% taking control back.
Don't ski the trees, ski the spaces between the trees.
Re: The Gap: Anger, Bernie, Trump, Brexit.. what else?
Right because disposing of all of your batteries is so green, whatever man. You're also forgetting that fracking will employ non-educated, highly paid ditch diggers. Your solar, battery power blah, blah, blah, will require college.
Thanks Ptex , i had not been aware of this data source .
I briefly skimmed thru the data which is clearly. Illustrative of the damage rendered by Regan et al . The data clearly illustrates the alarming increase in wealth by the top .01 percent which is not only inequitable but is the stuff of very serious unrest when contrasted with the bottom 90 percent .
We all felt this to some degree during the last 3 decades and while many intuitively or anecdotally GOT it , these data are alarming .
I then went to see who is funding them thru their Institute of Policy Studies on their IRS. 990 's . They appear to be completely privately sourced . Most of their trustees were unknown to me except Harry Belafonte . Is there a bias perhaps , but at face value without further digging , it does help understand some of the metrics that are driving the great churn in the middle class today .
Change , no make that systemic change is needed .The system is calcified , skewed toward the advantage of the elite class and has a vested interest in the maintenance of the status quo , by offering the masses " bread and circus" and just enough to keep them primarily DISTRACTED and disengaged . I too am very concerned about the future IF this malaise is allowed ro continue
I don't think it would. I think it is the takers in this society that need a wake up call. If you want to live in poverty that is your choice. Is it harder for some to crawl up the ladder? it certainly is but the opportunity is there. retooling all the trade agreements we have would be a first step in bringing jobs back to America. Unless your factory is in this country charge them to bring there product in. Make it so corporations want to set up shop in this country...and if an American Company wants to reincorporate to a foreign territory let them go. Then charge them such a high tariff to sell there product to the most lucrative market in the world that they are not competitive, someone will pick up the ball. The people that we put in office to protect the majority have had the system rigged by the few.
We need to begin to lower our debt not expand it. Expand debt and raise interest rates is crazy. This country has to become a net exporter again of solid goods, that is how you build the middle class. We lost that competitive edge in the late 60's and 70's when Unions became to strong and shotty workmanship became the norm. Not the pendulum has swung 180 and we need unions to regroup and start representing the people they are suppose to. They need to force there way onto the board of corporations to have input on compensation packages of the CEO's. There is not a single worker that would care if the CEO pay went up as long as there were going up just the same.