You know the insanity started with the 2008 bailout. It simply continued under Trump as all hoped to recover from 2008. That year featured $14T of paper disappearing and we were slowly amortizing that away as the economy was picking up speed. Obama was hit by the recession along with FDR's time bomb and took the wrong path with spending. Trump reversed a lot of that and was on a recovery path until the Chinese gift arrived. The reversal in the Fed balance started early 2018 and was on a new slope until the pandemic.
That 0.1% is a very big deal if the increase could have continued. But the deficit did increase mainly because of excessive tax cuts, particularly for the rich. Trump got rolled by Ryan over that but took his half loaf.
TDS really impacts your ability to think clearly. All Biden had to do to keep GDP up was keep his hands out of the cookie jar (printing money, the aforementioned MMT) and stop himself from screwing with our energy policy and production ability. That's it. He could have sipped iced tea from the Rose Garden and touched nothing, and GDP would have continued to skyrocket.
Instead you got massive regulation on all industries that use fossil fuels, OSHA mandates, see-sawing shutdowns and fear mongering, and just generally obscure and stupid messaging. It continues today. It's ludicrously stupid to blame the previous administration when in 2021 the GDP was lifting off. +5.67%!!!
It dropped off a cliff during Covid due to the extreme loss of demand. The oil companies haven't caught up to the shrinkage circa 2019. Mostly because of Biden's "Green New Deal" regulations and fear of over-investing or getting bankrupted.
Actually the decline in fuels started three years before Biden via ESG restrictions. While we needed investment for economic growth we didn't do that. The delay eventually shows up. We are almost back to 2019 levels but should have been ~ 15% greater by now. Of course, Biden hasn't improved matters when restrictions need to be reduced.
Go ahead. Keep trashing (like he hasn't been trashed by Statists enough) the only person who has remained un-captured (and thus gained his rightful popularity), just because he isn't your perfect politician.
One might think government revenues will bring a rather steep decline as taxable capital gains decrease, but outlays will continue their rise. The end of MMT arrives as interest on the debt dominates future outlays. Worse, that fact is worldwide affecting neatly every government and results in an even stronger dollar. Yet our primo exports of food and energy are being reduced.
Not sure how Congress can deal with this and structurally we are in a very bad place. This recession will likely be much longer and deeper than many in the past. Worse, it will likely be worldwide.
Cutting back to necessities and increasing taxes may be the only solution and will be wildly unpopular. Our politicians have squandered a lot to their favored donors and the public will not be happy with any of them. Very hard decisions ahead with little confidence in this administration to deal with that.
Much of the economic stress was initiated with COVID and piled on by trump and Biden's attempt to right the ship. The attack on Ukraine exacerbated the world inflation and the negative propaganda constantly hurled from the right erodes market confidence in the public but high rollers are doing quite well. It is time to quit complaining , work to produce our own"stuff"and show the world and ourselves what some American effort can do.
Most of the recent Fed balance sheet expansion was under bankruptcy bro Trump.
https://www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm
You know the insanity started with the 2008 bailout. It simply continued under Trump as all hoped to recover from 2008. That year featured $14T of paper disappearing and we were slowly amortizing that away as the economy was picking up speed. Obama was hit by the recession along with FDR's time bomb and took the wrong path with spending. Trump reversed a lot of that and was on a recovery path until the Chinese gift arrived. The reversal in the Fed balance started early 2018 and was on a new slope until the pandemic.
That 0.1% is a very big deal if the increase could have continued. But the deficit did increase mainly because of excessive tax cuts, particularly for the rich. Trump got rolled by Ryan over that but took his half loaf.
Unfortunately for Biden administration and Democrats, they will get the blame.
And November is around the corner.
Unfortunately for Biden, fortunately for the country.
TDS really impacts your ability to think clearly. All Biden had to do to keep GDP up was keep his hands out of the cookie jar (printing money, the aforementioned MMT) and stop himself from screwing with our energy policy and production ability. That's it. He could have sipped iced tea from the Rose Garden and touched nothing, and GDP would have continued to skyrocket.
Instead you got massive regulation on all industries that use fossil fuels, OSHA mandates, see-sawing shutdowns and fear mongering, and just generally obscure and stupid messaging. It continues today. It's ludicrously stupid to blame the previous administration when in 2021 the GDP was lifting off. +5.67%!!!
You have no clue what you are talking about.
What in the. LNG has nothing to do with our current gasoline prices.
Our oil production:
https://ourfiniteworld.com/2022/04/21/the-world-has-a-major-crude-oil-problem-expect-conflict-ahead/
It dropped off a cliff during Covid due to the extreme loss of demand. The oil companies haven't caught up to the shrinkage circa 2019. Mostly because of Biden's "Green New Deal" regulations and fear of over-investing or getting bankrupted.
You aren't very smart. You aren't even making coherent arguments.
Actually the decline in fuels started three years before Biden via ESG restrictions. While we needed investment for economic growth we didn't do that. The delay eventually shows up. We are almost back to 2019 levels but should have been ~ 15% greater by now. Of course, Biden hasn't improved matters when restrictions need to be reduced.
So what?
Go ahead. Keep trashing (like he hasn't been trashed by Statists enough) the only person who has remained un-captured (and thus gained his rightful popularity), just because he isn't your perfect politician.
Are you a Democrat plant?
One might think government revenues will bring a rather steep decline as taxable capital gains decrease, but outlays will continue their rise. The end of MMT arrives as interest on the debt dominates future outlays. Worse, that fact is worldwide affecting neatly every government and results in an even stronger dollar. Yet our primo exports of food and energy are being reduced.
Not sure how Congress can deal with this and structurally we are in a very bad place. This recession will likely be much longer and deeper than many in the past. Worse, it will likely be worldwide.
Cutting back to necessities and increasing taxes may be the only solution and will be wildly unpopular. Our politicians have squandered a lot to their favored donors and the public will not be happy with any of them. Very hard decisions ahead with little confidence in this administration to deal with that.
Buy bitcoin
Totally worthless.
Totally worthless. Just ask Warren Buffet.
Bitcoin is a *software* *program*! It is completely useless and worthless! Stay the hell away from all crypto!
Headed out to Binance soon.
Has Brandon cleared this with the giant bunny yet?
Much of the economic stress was initiated with COVID and piled on by trump and Biden's attempt to right the ship. The attack on Ukraine exacerbated the world inflation and the negative propaganda constantly hurled from the right erodes market confidence in the public but high rollers are doing quite well. It is time to quit complaining , work to produce our own"stuff"and show the world and ourselves what some American effort can do.
Biden and Democrats are destroying the middle class by inflation, critical race indoctrination and illegal immigration.