they also avoid discussing the US dollar as the global reserve currency, pretending as if there is no such thing. Warren Buffett: There’s no option for any reserve currency other than the U.S. dollar, and re-affirms his conviction that crytocurrencies are rat poison square.
If millions more people lose healthcare, or can't afford a prescription, it's a big win for Trump if he makes himself richer. That's all he ever cares about.
The response was far from perfect but I think overall it was a net positive. You disagree? I would argue that not building enough houses is more to blame for the current situation, but don't disagree that money will always find somewhere to go. The shale boom lost a few hundred billion due to a supply glut until about 2022 so it’s not like all the money went into real estate. Not to mention all the VC went into go nowhere tech companies. Sure, timing is everything. Places that aren't SF and NYC, say Austin and DFW also got pretty expensive too but that's not really where global money is going. Was a very good time to be leveraged in housing, but I feel like rates are going to normalize a bit and the economy is going to turn. I just view cause and effect a bit differently or maybe it's just through the lenses of less cynicism. It's not that I have such lofty views of mankind, I think the ultra wealthy and central banks are coordinating to the extent you believe. I think things were in fact more transitory now that we have sometime to reflect even if the fed was too slow to act. I think the fed will keep rates higher a bit longer than the market expects. And I think the GOP will cry wolf when the same Fed Chair that Trump put into place will lower rates until the second half of the year.
the outgrowth of the CHIP act, OpenAI chief Sam Altman reportedly wants to raise 7 trillions of dollars to address the chip shortage more high-paying jobs towards contributing to expand the GDP. who could have imagined that Govt spending would lead to private investment of this magnitude? Invisible Fan and the sources from which he cut and past
the fund will attract a large infusion of cash (in US Dollars) from foreign entities, further accentuating USD's status as the global reserve currency, something that Invisible and the sources, from which he cut n past, refuse to acknowledge.
Good to hear and it’s stuff like this why I’m not as positive about AI as some. I also fear though that such regulation will be easily circumvented. The pace of technology on AI is moving much faster than regulation.
Congress passed the CHIPS Act, a $280 billion spending package aimed at encouraging the growth of the US-based semiconductor industry. President Joe Biden signed the bill into law on Aug. 9, 2023. since then, many well-paying jobs have been created. and there is more development effectively, the US Gov has committed $280 billions to develop the semi industry---creating tens of thousands of well-paying jobs in the US---paving the way for addition $7,000 billions private investment into the semi industry. this > 25 X return on investment, from the perspective of growing the GDP, is so stunning that the usual suspects , @invisiblefan @stupimoniker, continue to remain silent
why is it that the sources from which you cut and paste avoid discussing "the US dollar as the reserve currency for international transactions since WW2". it is a UBER competitive advantage to the US, it is stupid not to leverage such a competitive advantage. Putin's complaint about it https://twitter.com/WallStreetSilv/status/1755791294192816492? Putin: "To use the dollar as a tool of foreign policy struggle is one of the biggest strategic mistakes made by the U.S political leadership" ,underscores how much of an economic advantage it has been bluntly put, the US has Russia by its economic balls, and squeezing hard !
@adoo doing overtime for the ministry of truth by posting on a holiday weekend. Must need that overtime for me living rent free in his head. If Deficits Don't Matter, don't cry when Trump or the next R doubles whatever he deficit spent in his first term on order for him to brag about his Strong Economy. It's sucker bait tailor made for the feckless and shortsighted.
a glutton for punishment, at least invisible no longer parrots the false narrative that the Fed is wrecking its balance sheet,
The response as in Fed only? I would, at fairest, give them an incomplete. If voters decide to reelect Biden and forgive him for the inflation the Fed helped accelerate and not contain, then yes, you would give him a net positive-ish rating. That doesn't mean his ass won't be replaced for someone like Brainard, who doesn't seem to be in the same mold as Powell or a Bernanke/Yellen. Last year, the Fed backstopped a bank panic that ostensibly came from a higher rate policy and ended up giving free lunches for banks at the tail end of the Bank Term Funding Program. This behavior of rescuing banks from themselves is why Fed President Neel Kashkari is a vocal critic of banks getting their **** together. I don't know what you mean here. I missed this one. Thank you for acknowledging our current trajectory is unsustainable. We might have ten-ish years of leash, but ofc the more complacent we get with the uncomfortable, the easier it is for Denialists to roost and legitimize themselves when things go beyond the point of no return. It turns out the correspondance I had over this wasn't you, but rather @astros123 from a time when I assumed he had two fully functioning lobes, and when I didn't realise that he used his moniker to remind him how to count. "My rant on what we are actually spending money on" https://bbs.clutchfans.net/threads/its-a-matter-of-bidenomics.320222/page-18#post-14757638 Anyhow, I'd argue MMT is more Voodoo Economics than whatever my remarks has been criticized as. The CBO has calculated the costs between a financed 500B work vs a 500B work under debt. https://www.cbo.gov/publication/57407 (There's a cool graph if you click!) Under the first scenario financed by reducing noninvestment purchases, macroeconomic changes would reduce the net cost of funding infrastructure by approximately one-third over 30 years. Under the second scenario financed by increasing federal borrowing, macroeconomic changes would increase the net cost of funding infrastructure by approximately one-fourth over 30 years. In a different reply, I tried introducing the concept crowding out effects, where public debt competes with private credit through competitive rates...if buying Treasuries (34T+ worth) is more attractive than investing in a company's debt burden, that could have a real (not financialized) productive downward impact on the economy. Or maybe it means your smallish company needs to "toughen up" and become a TBTF oligopoly to warrant folks (or maybe even the Fed!) to buy your debt...? Anyways, astros just played dead and rolled over to Like whatever to help his master B fixation.
