24K Posted August 18 Share Posted August 18 1 minute ago, Elias Pettersson said: Spoken like a true liberal. You do realize there is interest owed on the debt, right? Just like a credit card? The interest payment on that debt for 2025 will be close to $1 trillion. That’s $1 trillion from gross revenues that cannot be used for anything else. But keep telling yourself that the debt isn’t a problem. They will surely print more money to pay off that interest payment. Which of course leads to more inflation and higher prices. Yes, why do you think the target inflation rate is 2% rather than 0? Quote Link to comment Share on other sites More sharing options...
stawns Posted August 18 Share Posted August 18 7 minutes ago, Elias Pettersson said: Spoken like a true liberal. You do realize there is interest owed on the debt, right? Just like a credit card? The interest payment on that debt for 2025 will be close to $1 trillion. That’s $1 trillion from gross revenues that cannot be used for anything else. But keep telling yourself that the debt isn’t a problem. They will surely print more money to pay off that interest payment. Which of course leads to more inflation and higher prices. You're dealing from an old monetary theory deck, imo. Let's that money trickle down to the poor people, right? 1 Quote Link to comment Share on other sites More sharing options...
Elias Pettersson Posted August 18 Share Posted August 18 2 minutes ago, 24K said: There is no debt threat for America as long as they can maintain reserve currency status. US is literally the only country that can get away with ever balloning debt until they lose a world war as they control the printer for the money that debt is paid in. The only issue is with inflation and as long as Fed can keep that in check, the debt is a non issue for the US. That is also why Trump proposal to eliminate the Feds is beyond idiotic as that would literally make US national debt a major problem without the trusted hands of the Fed that preserve US dollar's reserve currency status in the eyes of other nations. Remember this can only be said about USA. Canada can't pull this shit so national debt is a real issue for Canadians. How exactly do you control inflation when you need to “print” over a trillion dollars per year just to pay the interest on the debt? Can you explain that? Also, the US dollar has dropped from 71% to 59% in terms of its share of world currency reserve. On top of that, you have the BRICS countries who want to start their own world currency reserve. So, the US dollar being the dominant player in the future is under significant attack. Quote Link to comment Share on other sites More sharing options...
Elias Pettersson Posted August 18 Share Posted August 18 10 minutes ago, 24K said: Yes, why do you think the target inflation rate is 2% rather than 0? Do you think the real rate of inflation is only 3% right now? When you go grocery shopping, fill up your tank with gas, or go out to dinner is the real rate of inflation only 3%? Quote Link to comment Share on other sites More sharing options...
Bob Long Posted August 18 Share Posted August 18 22 minutes ago, 24K said: Part of it is on Harris for a lack of detail there but CNN have been chasing the fox audience for awhile now with their most recent CEOs so not surprised they are now actually leaning right. It make sense that they are doing that as the left have generally left cable in favor of independent sources on YouTube and the like. Most cable news watcher that remain are your older folks that lean right. CNN tried to do the streaming thing to retain left leaning viewership but that failed spectacularly. As for WaPo, they have always been right leaning, they are more anti Trump than anything. But both WaPo and NYT are not feeling the wrath of their right ward turn with active boycott from the left with subscription cancelations. Not a fan of CNN, I find that they tend to try to create too many hair on fire headlines. NYT tho I really like, actually have a subscription. I see better coverage there of Canadian issues than CBC a lot the time. Quote Link to comment Share on other sites More sharing options...
Bob Long Posted August 18 Share Posted August 18 1 minute ago, Elias Pettersson said: Do you think the real rate of inflation is only 3% right now? When you go grocery shopping, fill up your tank with gas, or go out to dinner is the real rate of inflation only 3%? Gas prices are down in BC. I find lots of deals grocery shopping. Lots of great lower cost restaurant options in Vancouver too. Quote Link to comment Share on other sites More sharing options...
24K Posted August 18 Share Posted August 18 8 minutes ago, Elias Pettersson said: How exactly do you control inflation when you need to “print” over a trillion dollars per year just to pay the interest on the debt? Can you explain that? They don't print or need to print a trillion dollars to fiance the debt. You still have taxes and such and it is like what 3% of GDP? That is like nothing. 8 minutes ago, Elias Pettersson said: Also, the US dollar has dropped from 71% to 59% in terms of its share of world currency reserve. On top of that, you have the BRICS countries who want to start their own world currency reserve. So, the US dollar being the dominant player in the future is under significant attack. It is under attack but end of day, global commerce will still demand US dollars when push come to shove. Right now only countries that play around with ending transaction in yuan or rubbles of any appreciable amount are between Russia and China themselves and I guess their client states. Quote Link to comment Share on other sites More sharing options...
24K Posted August 18 Share Posted August 18 9 minutes ago, Elias Pettersson said: Do you think the real rate of inflation is only 3% right now? When you go grocery shopping, fill up your tank with gas, or go out to dinner is the real rate of inflation only 3%? How does inflation right now have anything to do we my comment? Fed have stated their target of 2% annual inflation for a long time. Way before this recent spike in inflation. Quote Link to comment Share on other sites More sharing options...
Elias Pettersson Posted August 18 Share Posted August 18 7 minutes ago, Bob Long said: Gas prices are down in BC. I find lots of deals grocery shopping. Lots of great lower cost restaurant options in Vancouver too. Gas prices are up 13% in BC since January. So not sure what you mean by gas prices are going down. 13% is a lot more than 3% right? https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1810000101 As for groceries, everyone knows prices are up more than 3%. Doesn’t matter where you shop. McDonald’s is a pretty low end restaurant right? A Big Mac is $7.79 today. What was it 10 years ago? $3.99. That’s more than 3% right? Try 100% more. Quote Link to comment Share on other sites More sharing options...
Elias Pettersson Posted August 18 Share Posted August 18 17 minutes ago, 24K said: They don't print or need to print a trillion dollars to fiance the debt. You still have taxes and such and it is like what 3% of GDP? That is like nothing. It is under attack but end of day, global commerce will still demand US dollars when push come to shove. Right now only countries that play around with ending transaction in yuan or rubbles of any appreciable amount are between Russia and China themselves and I guess their client states. Last year alone the US printed over $200 billion. They print money every year. Kamala’s economic plan is estimated to cost almost $2 trillion. Where you do think that money is coming from? And don’t tell me Trump’s taxes because in order to get that approved it needs to go through Congress. So you need to have one party control all 3 levels of government to get anything approved. Is Kamala gonna hope and pray that she controls all levels of government? Quote Link to comment Share on other sites More sharing options...
Popular Post Optimist Prime Posted August 18 Popular Post Share Posted August 18 6 minutes ago, Elias Pettersson said: Gas prices are up 13% in BC since January. So not sure what you mean by gas prices are going down. 13% is a lot more than 3% right? https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1810000101 As for groceries, everyone knows prices are up more than 3%. Doesn’t matter where you shop. McDonald’s is a pretty low end restaurant right? A Big Mac is $7.79 today. What was it 10 years ago? $3.99. That’s more than 3% right? Try 100% more. Sir, this is a Wendies, US politics thread. But for what it is worth, i just filled up today and it was $1.96 a liter for the high end good stuff. As some may remember I record every fuel up for over a decade now: it was in January $2.04/liter, same pump nozzle as January, same company, same location. As for being on topic: And now this. 3 2 Quote Link to comment Share on other sites More sharing options...
Bob Long Posted August 18 Share Posted August 18 6 minutes ago, Elias Pettersson said: Gas prices are up 13% in BC since January. So not sure what you mean by gas prices are going down. 13% is a lot more than 3% right? https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1810000101 Actually they've dropped a lot since Feb https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1810000101 6 minutes ago, Elias Pettersson said: As for groceries, everyone knows prices are up more than 3%. Doesn’t matter where you shop. You have to look around more, but you can still find good deals. Trudeau has finally got the big companies to address the gouging. Harris sounds like she wants to as well. 6 minutes ago, Elias Pettersson said: McDonald’s is a pretty low end restaurant right? A Big Mac is $7.79 today. What was it 10 years ago? $3.99. That’s more than 3% right? Try 100% more. Why would you eat that crap when you can get a Bahn mi for that price? Quote Link to comment Share on other sites More sharing options...
SilentSam Posted August 18 Share Posted August 18 Quote Link to comment Share on other sites More sharing options...
Optimist Prime Posted August 18 Share Posted August 18 6 minutes ago, Bob Long said: Actually they've dropped a lot since Feb https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1810000101 You have to look around more, but you can still find good deals. Trudeau has finally got the big companies to address the gouging. Harris sounds like she wants to as well. Why would you eat that crap when you can get a Bahn mi for that price? I personally flip through all the flyers once a week and make notes on things I know we will need that are cheaper at one store vs another. When i shop, i get 7 things at COuntry Grocer, two things at safeway, 14 things at superstore and a handful of stuff at Thrifties, in any given week. "but i shouldn't have to do stuff to save money"... well what can i say: welcome to reality, snowflake. (not you, an imaginary reader complaining about inflation while spending 20 dollars on a salami without seeing it is 7.99 two blocks away.) I should add, cuz i have a habit of editing after I hit send (yeah i will work on it) when i see a fast food joint has hiked their prices i simply don't buy that thing. My last bigmac was sometime before spring. 1 Quote Link to comment Share on other sites More sharing options...
Ilunga Posted August 18 Share Posted August 18 1 hour ago, Elias Pettersson said: Spoken like a true liberal. You do realize there is interest owed on the debt, right? Just like a credit card? The interest payment on that debt for 2025 will be close to $1 trillion. That’s $1 trillion from gross revenues that cannot be used for anything else. But keep telling yourself that the debt isn’t a problem. They will surely print more money to pay off that interest payment. Which of course leads to more inflation and higher prices. This isn't even close to how indebted the US was in the 1930's, debt in relation to cash in circulation Currently the US has about 2.3 trillion cash in circulation and is just over 34 trillion in debt. A ratio of 17-1 give or take. Back when Huey Long delivered his, Every Man a King speech. America was in debt to the tune of 272,000,000,000, and there was only 6,000,000,000 in circulation. That's a ratio of 45-1 While Huey was a flawed person he had some great ideas that he was already implementing in his home state of Louisiana. He was running for president, wanting to implement his ideas nationally. Limiting the wealth any one person could hold amongst others. https://www.americanrhetoric.com/speeches/hueyplongking.htm The opening line of his speech " Is that a right of life, when the young children of this country are being reared into a sphere which is more owned by 12 men that is by more than 120 million people " Some things don't change....right ? 1 Quote Link to comment Share on other sites More sharing options...
Curmudgeon Posted August 18 Share Posted August 18 (edited) Some airhead on Fox criticized Kamala Harris because she said she ate a whole bag of Doritos the night Trump was elected. I'm shocked and dismayed. This hitherto unknown (secret?) fact is certainly disqualifying and may, in some states, be criminal. Harris should immediately withdraw, enter a convent, and beat herself severely with a birch switch. How dare she eat an entire bag of salty, spicy, extruded corn mush when people are struggling to afford a Big Mac with fries and a drink? I mean really, how can someone who scarfed down a whole bag of chips be trusted with the nuclear codes? Edited August 18 by Curmudgeon 2 Quote Link to comment Share on other sites More sharing options...
24K Posted August 18 Share Posted August 18 (edited) 57 minutes ago, Elias Pettersson said: Last year alone the US printed over $200 billion. They print money every year. Kamala’s economic plan is estimated to cost almost $2 trillion. Where you do think that money is coming from? And don’t tell me Trump’s taxes because in order to get that approved it needs to go through Congress. So you need to have one party control all 3 levels of government to get anything approved. Is Kamala gonna hope and pray that she controls all levels of government? Harris plan cost $1.7 trillion over a decade. Where was this outrage when Trump tax cut added $2.1 trillion in less than a decade to the debt? Edited August 18 by 24K 2 Quote Link to comment Share on other sites More sharing options...
24K Posted August 18 Share Posted August 18 4 minutes ago, Curmudgeon said: Some airhead on Fox criticized Kamala Harris because she said she ate a whole bag of Doritos the night Trump was elected. I'm shocked and dismayed. This hitherto unknown (secret?) fact is certainly disqualifying and may, in some states, be criminal. Harris should immediately withdraw, enter a convent, and beat herself severely with a birch switch. How dare she eat an entire bag of salty, spicy, extruded corn mush when people are struggling to afford a Big Mac with fries and a drink? I mean really, how can someone who scarfed down a whole bag of chips be trusted with the nuclear codes? Well at least it ain't Lays right? 1 Quote Link to comment Share on other sites More sharing options...
JoeyJoeJoeJr. Shabadoo Posted August 18 Share Posted August 18 5 minutes ago, Curmudgeon said: Some airhead on Fox criticized Kamala Harris because she said she ate a whole bag of Doritos the night Trump was elected. I'm shocked and dismayed. This hitherto unknown (secret?) fact is certainly disqualifying and may, in some states, be criminal. Harris should immediately withdraw, enter a convent, and beat herself severely with a birch switch. How dare she eat an entire bag of salty, spicy, extruded corn mush when people are struggling to afford a Big Mac with fries and a drink? I mean really, how can someone who scarfed down a whole bag of chips be trusted with the nuclear codes? I think it's safe to say the number of people who must have consumed that bit of "news" with a chest covered in dorito crumbs and a 2L mountain dew in their lap, is greater than zero. It's also probably safe to say the irony was lost for most of those people. 1 1 Quote Link to comment Share on other sites More sharing options...
Elias Pettersson Posted August 18 Share Posted August 18 6 minutes ago, Ilunga said: This isn't even close to how indebted the US was in the 1930's, debt in relation to cash in circulation Currently the US has about 2.3 trillion cash in circulation and is just over 34 trillion in debt. A ratio of 17-1 give or take. Back when Huey Long delivered his, Every Man a King speech. America was in debt to the tune of 272,000,000,000, and there was only 6,000,000,000 in circulation. That's a ratio of 45-1 While Huey was a flawed person he had some great ideas that he was already implementing in his home state of Louisiana. He was running for president, wanting to implement his ideas nationally. Limiting the wealth any one person could hold amongst others. https://www.americanrhetoric.com/speeches/hueyplongking.htm The opening line of his speech " Is that a right of life, when the young children of this country are being reared into a sphere which is more owned by 12 men that is by more than 120 million people " Some things don't change....right ? Nothing ever changes my friend. The cycle repeats over and over again. And the people who get screwed the most are the middle class. We all know this to be true. Doesn’t matter which party is in government. 1 Quote Link to comment Share on other sites More sharing options...
24K Posted August 18 Share Posted August 18 21 hours ago, Sabrefan1 said: I think he knows how they work, but someone convinced him it was a good idea and most of them did have merit. Now he may end up overdoing it if he gets back in office. Well we now have proof he doesn't know how tarrifs work. 3 Quote Link to comment Share on other sites More sharing options...
Gnarcore Posted August 18 Share Posted August 18 1 hour ago, Bob Long said: Gas prices are down in BC. I find lots of deals grocery shopping. Lots of great lower cost restaurant options in Vancouver too. Just bought 5 nice size striploins for $16.50. Some things went up and stayed up...just be smart and look for deals. Also I recall him basing it on the price he paid for car washes at one point. 2 1 1 Quote Link to comment Share on other sites More sharing options...
Chickenspear Posted August 18 Share Posted August 18 7 minutes ago, JoeyJoeJoeJr. Shabadoo said: I think it's safe to say the number of people who must have consumed that bit of "news" with a chest covered in dorito crumbs and a 2L mountain dew in their lap, is greater than zero. It's also probably safe to say the irony was lost for most of those people. I hear the irony detecting gene gets nerfed with each consecutive generation of incest. The scientific name for this is Geneticae Hypocrisis. 1 Quote Link to comment Share on other sites More sharing options...
Optimist Prime Posted August 18 Share Posted August 18 8 minutes ago, Elias Pettersson said: Nothing ever changes my friend. The cycle repeats over and over again. And the people who get screwed the most are the middle class. We all know this to be true. Doesn’t matter which party is in government. Are we just forgetting about the group directly below the middle class: that middle class by definition are okay, but not rich: you are ignoring an entire class that we collectively know to be poor. No one is more screwed in any society in any age than the those in poverty. But i get it, Peter poutine needs middle class to believe you, so i guess go ahead and spout nonesense for him. 1 Quote Link to comment Share on other sites More sharing options...
Warhippy Posted August 18 Share Posted August 18 4 hours ago, Sabrefan1 said: You can't call every single outlet that prints a story or two that you don't like, fake news. Especially on this board since CNN has been lionized by a fair number of people here for printing and broadcasting news that they like. Personally, I'm waiting a few more days for it all to play out before I take a deeper look into what's happening. Right now, it's just fluff and headlines based on a segment of speech and whatever her campaign put out the day before, which is also likely to change. Wait for it. Wait...for it 4 hours ago, RupertKBD said: I think you missed Hippy's sarcasm there.... He was referring to how Trump and other Repugs would handle it.... Ok there it is good sir All sarcasm nothing more 1 Quote Link to comment Share on other sites More sharing options...
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