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Replies: 26
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Heisman Winner [119839]
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Dow already down 535+
Apr 25, 2024, 9:40 AM
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Thanks (fill in blank)
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Hall of Famer [21990]
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dem boys in Washington
Apr 25, 2024, 9:41 AM
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need to crank up the spending to keep our GDP numbers hot.
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All-In [40952]
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They just passed a 95 billion dollar bill
Apr 25, 2024, 9:48 AM
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That's 95,000 million dollars. That's almost $300 for every man woman child and other in the US, and about half of those don't pay any federal tax.
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Hall of Famer [21990]
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conversely
Apr 25, 2024, 9:58 AM
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that's only 0.5% of our GDP haha
we're borrowing $1T every 100 days to keep the GDP at 1.6%
let's do some simpleton math....
$1T every 100 days is ~3.65T every year which is ~902.5B / quarter. in addition to what's budgeted.
our GDP rose 1.6%...and according to the BEA that's 327.5B.
so I axe you fellow muricans: hey, mr. neal in nc: if you give me 900 bucks and I give you back 300, you wanna do business?
lol
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Oculus Spirit [75807]
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The real question is, who does the government really owe money to, and
Apr 25, 2024, 10:06 AM
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can the government beat them up?
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Hall of Famer [21990]
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bro
Apr 25, 2024, 10:07 AM
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you ask some questions that blow my mind. are you being serious?
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Oculus Spirit [75807]
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Yes, dead serious. Who can really try and cash in
Apr 25, 2024, 10:10 AM
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their chips against the United States and not ruin their own economy. It sure isn't China. China needs us to keep the wheel turning so people can buy their cheap crap.
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Hall of Famer [21990]
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we do
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Apr 25, 2024, 10:19 AM
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lol
78% is held by the American public, as of Q1 2023. did not look if that changed over the course of the year last year.
the Fed, social security (largest holder, lol), pensions, mutual funds, city/state governments....
China only has ~$900B of our debt. And they've been short, hard. Liquidating T-bills like crazy. Largest foreign holder is Japan, actually.
we're holding the bag, bro.
i'm shocked people don't know this.......
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Hall of Famer [21990]
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sorry, I misspoke
Apr 25, 2024, 10:33 AM
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76% held by American public. ~6.7T owned by foreign countries.
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All-In [40952]
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how about I give you 900 in government
Apr 25, 2024, 12:04 PM
[ in reply to conversely ] |
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business and you give me 300 back
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CU Medallion [56190]
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Total annual spending is what, $6 trillion?
2
Apr 25, 2024, 10:00 AM
[ in reply to They just passed a 95 billion dollar bill ] |
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$95 billion is 1.5% of that. It's also a small price to pay to
A: Do what's right and
B: Militarily exhaust one of our largest geopolitical adversaries
Also, half of people don't pay federal income tax. They pay other federal taxes.
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CU Medallion [56190]
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I should add....
Apr 25, 2024, 10:02 AM
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I'm not sure why Israel needs aid. Are they running out of bombs to drop on orphanages?
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Heisman Winner [138136]
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Israel is wealthy af.
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Apr 25, 2024, 10:05 AM
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That whole aid setup with them is...weird.
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Oculus Spirit [76427]
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Everyone knows Jewish people have tons of money.
Apr 25, 2024, 1:07 PM
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I’m not sure why we are aiding them at all. It’s not like it’s a war they are going to lose. Ukraine on the other hand I can understand the aid to build more drones to kill Russians.
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All-In [47843]
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-599.93
Apr 25, 2024, 9:52 AM
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but the temp in Seneca is 62.
So we got that forging us, which is nice.
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Hall of Famer [24250]
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Re: Dow already down 535+
Apr 25, 2024, 10:07 AM
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Maybe some limit orders will be triggered soon
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Hall of Famer [21990]
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methinks
1
Apr 25, 2024, 10:12 AM
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we Powell put strike hunting again
forget cutting rates this year.
hidden sliver of the GDP was the PCE coming in HOT too....
let's ask the class: what do we call it when the cost of everything is sky high, yet the GDP is declining?
hint:
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Hall of Famer [24250]
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Re: methinks
Apr 25, 2024, 10:14 AM
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I think the technical term is BOFBS
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Hall of Famer [24250]
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Re: methinks
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Apr 25, 2024, 10:17 AM
[ in reply to methinks ] |
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NVDA is like fuggit - up about $13 per share.
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CU Medallion [56190]
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You can call it stagflation or you can call it
Apr 25, 2024, 11:28 AM
[ in reply to methinks ] |
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exactly what the Fed has been trying to do by raising interest rates.
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Hall of Famer [21990]
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that's what I meant by
1
Apr 25, 2024, 11:59 AM
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powell put strike hunting.......
slang notwithstanding, you have to agree we have conflicting ideologies here, no?
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CU Medallion [56190]
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Admittedly, I struggled to parse that line.
3
Apr 25, 2024, 12:04 PM
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There's a conflict insofar as we can't have our cake and eat it, too.
People can complain about inflation or they can complain about the Fed trying to control inflation. The media is always happy to report bad news, so they'll put either result in big neon lights to freak everyone out.
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Hall of Famer [21990]
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100% aligned with you
Apr 25, 2024, 12:18 PM
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the Fed doesn't bear 100% of the responsibility in inflation though1 (wrt this specific conversation today). our definition of the cake, and what we're eating, however, seems to be where our disconnect lies.
my conflicting ideologies statement (or my interpretation of having our cake and eating it too) is referring to the fact that we're having "restrictive" monetary policy (which I don't have a whole sale problem with), yet borrowing $1T every 100 days as spending is out of control (which I have a massive ####### problem with).
to your notion regarding media manipulation of storylines and narratives...my novice interpretation of such reporting over the past 7 - 9 quarters is:
- good economic news = praise admin
- bad economic news = blame fed
that's yet another disingenuous position, in my view.
as mature, logical adults here (seemingly) we need to reach alignment and consensus that you will not stop inflation while spending is out of control, IDGAF what the Fed does. conversely, if you stifle spending but the Fed is dumping liquidity (circa 2020), then you'll get inflation together.
The policies need to be complimentary, which they're not.
1Of note: I'm more biased against the Federal Reserve than 99.5% of the people here. I'm not defending the Fed whatsoever, they got us in this mess.
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CU Medallion [56190]
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I don't see a connection between deficit spending and inflation.
Apr 25, 2024, 1:25 PM
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There was a partial connection between covid stimulus and inflation for a couple years, but that's long over.
The Fed is deliberately trying to damage the economy to reduce inflation, so the media's not wrong to point that out. I'm not sure how much economic credit or blame we can assign to politics aside from threats to default on our debt.
The media will report on the craziest people on either fringe and then post think-pieces wondering why our nation is so polarized. They'll also report on inflation, which is bad, and also our efforts to fight inflation, which are bad. Then they'll post think-pieces about why consumer confidence is low. Some people think the MSM is some hyperpartisan political apparatus when really it's an outrage factory and a depression mill. Their entire agenda is to say, "Look at THIS! How terrible!"
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All-In [31558]
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Re: Dow already down 535+
1
Apr 25, 2024, 10:15 AM
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Good, bring on the recession that has still yet to happen. I need some rate cuts.
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110%er [7742]
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Gave Datthews Pand sucks
Apr 25, 2024, 10:52 AM
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What's a bit concerning is these financial reports often get revised downward later. Could be a rough quarter.
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All-In [26552]
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Economy is awesome
Apr 25, 2024, 12:53 PM
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Grandpa told us so.
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50
