The National Debt, Do You Worry About It?

[Over70irregs]

Wow. So printing money now to cover our debt payments aren’t a negative thing?

Yeah it’s negative

 

[vantexan]

Wow. So printing money now to cover our debt payments aren’t a negative thing?

It's absolutely a negative thing. Instead of propping the economy up since 2008 they should have let things naturally play out. But putting $2 trillion into the public's hands as stimulus in such a short period isn't a good thing. Drove up prices too rapidly.

 

[Next Day Err]

It's absolutely a negative thing. Instead of propping the economy up since 2008 they should have let things naturally play out. But putting $2 trillion into the public's hands as stimulus in such a short period isn't a good thing. Drove up prices too rapidly.

$2.2 trillion in CARES Act under Trump

$1.9 trillion in American Rescue Plan under Biden

 

[Over70irregs]

$2.2 trillion in CARES Act under Trump

$1.9 trillion in American Rescue Plan under Biden

As we ALL can see they have NO solutions to this. 1 Trill/100 days = Stack….stack……or stay whacked. Not too late.

 

[vantexan]

$2.2 trillion in CARES Act under Trump

$1.9 trillion in American Rescue Plan under Biden

You're not getting it. It was necessary for Trump and Congress to help get through the pandemic. But Biden took it too far in spite of being warned that too much stimulus would lead to inflation.

 

[Gotta Go]

How else do you buy votes...
Other than kill babies and call it healthcare...

 

[Next Day Err]

You're not getting it. It was necessary for Trump and Congress to help get through the pandemic. But Biden took it too far in spite of being warned that too much stimulus would lead to inflation.

I do get it. That's why I said earlier that it was probably a case of doing too much rather than too little like we usually do in the aftermath of a financial crisis.

 

[Over70irregs]

You're not getting it. It was necessary for Trump and Congress to help get through the pandemic. But Biden took it too far in spite of being warned that too much stimulus would lead to inflation.

That was started due to ignorance and greed in the first place. One started the other continues. Inflation was already present. We are just accelerating. We BOTH know it’s down to the right correct? (Kudos to you for acknowledging both parties are complicit. That is rare here)

 

[catstalking]

Wow. So printing money now to cover our debt payments aren’t a negative thing?

they are the same, vantexan is wrong

 

[vantexan]

That was started due to ignorance and greed in the first place. One started the other continues. Inflation was already present. We are just accelerating. We BOTH know it’s down to the right correct? (Kudos to you for acknowledging both parties are complicit. That is rare here)

Inflation was running about 2% a year. The Fed has a role to play managing the money supply. But they have to react to what Congress does. Everything they've been doing in the last two years has been to try to contain hyperinflation. And the jury is out as to whether they'll succeed.

 

[vantexan]

they are the same, vantexan is wrong

QE covered excess spending, leading to a massive increase in our debt. That's something that stretched over about 12 years until the pandemic hit. QE was designed to keep the country from going into depression from recession. They should have just let the natural economic correction take place. Then the pandemic hit and they had no choice but to up spending to keep things afloat. But the virus was weakening and eventual normalcy was on the horizon. There was no need to inject massive stimulus into the system and it was likely to cause much higher inflation than the about 2% average we were experiencing under QE. Biden was warned of this by major economists. I can only guess he thought, or the people behind him thought, that it would be a big political win if it worked. They were into Modern Monetary Theory, which is basically spend your way to prosperity. It didn't work.

 

[catstalking]

QE covered excess spending, leading to a massive increase in our debt. That's something that stretched over about 12 years until the pandemic hit. QE was designed to keep the country from going into depression from recession. They should have just let the natural economic correction take place. Then the pandemic hit and they had no choice but to up spending to keep things afloat. But the virus was weakening and eventual normalcy was on the horizon. There was no need to inject massive stimulus into the system and it was likely to cause much higher inflation than the about 2% average we were experiencing under QE. Biden was warned of this by major economists. I can only guess he thought, or the people behind him thought, that it would be a big political win if it worked. They were into Modern Monetary Theory, which is basically spend your way to prosperity. It didn't work.

that's a lot of words to admit that money printing is bad and everyone did it for their own (wrong) reasons

 

[vantexan]

that's a lot of words to admit that money printing is bad and everyone did it for their own (wrong) reasons

I like to clarify my positions. Reading is FUNdamental.

 

[Over70irregs]

Inflation was running about 2% a year. The Fed has a role to play managing the money supply. But they have to react to what Congress does. Everything they've been doing in the last two years has been to try to contain hyperinflation. And the jury is out as to whether they'll succeed.

The jury is your auto/property insurance, groceries, home prices.

Home affordability
1. San Jose, CA: $454,296
2. San Francisco, CA: $339,864
3. Los Angeles, CA: $279,250
4. San Diego, CA: $273,613
5. Seattle, WA: $213,984
6. New York, NY: $213,615
7. Boston, MA: $205,253
8. Riverside, CA: $173,375
9. Denver, CO: $172,704
10. Sacramento, CA: $172,261
11. Washington, DC: $166,551
12. Portland, OR: $161,624
13. Salt Lake City, UT: $154,455
14. Miami, FL: $151,163
Inflation Containment……..No

 

[Up In Smoke]

The jury is your auto/property insurance, groceries, home prices.

Home affordability
1. San Jose, CA: $454,296
2. San Francisco, CA: $339,864
3. Los Angeles, CA: $279,250
4. San Diego, CA: $273,613
5. Seattle, WA: $213,984
6. New York, NY: $213,615
7. Boston, MA: $205,253
8. Riverside, CA: $173,375
9. Denver, CO: $172,704
10. Sacramento, CA: $172,261
11. Washington, DC: $166,551
12. Portland, OR: $161,624
13. Salt Lake City, UT: $154,455
14. Miami, FL: $151,163
Inflation Containment……..No

Is the home owner, business owner and investor to blame for trying to maximize revenues and profits??

 

[vantexan]

The jury is your auto/property insurance, groceries, home prices.

Home affordability
1. San Jose, CA: $454,296
2. San Francisco, CA: $339,864
3. Los Angeles, CA: $279,250
4. San Diego, CA: $273,613
5. Seattle, WA: $213,984
6. New York, NY: $213,615
7. Boston, MA: $205,253
8. Riverside, CA: $173,375
9. Denver, CO: $172,704
10. Sacramento, CA: $172,261
11. Washington, DC: $166,551
12. Portland, OR: $161,624
13. Salt Lake City, UT: $154,455
14. Miami, FL: $151,163
Inflation Containment……..No

What year are your numbers from? Just a quick check has San Francisco at over $1,200,000.

 

[vantexan]

Is the home owner, business owner and investor to blame for trying to maximize revenues and profits??

In a lot of areas of the country companies like Blackrock are buying up available homes then charging high rent. Makes it very difficult for young couples starting out. There's capitalism, then there's predation.

 

[Next Day Err]

In a lot of areas of the country companies like Blackrock are buying up available homes then charging high rent. Makes it very difficult for young couples starting out. There's capitalism, then there's predation.

That’s just capitalism. There are winners and losers.

 

[Up In Smoke]

In a lot of areas of the country companies like Blackrock are buying up available homes then charging high rent. Makes it very difficult for young couples starting out. There's capitalism, then there's predation.

It boils down to demand and access to capital. Cash is king.

 

[Over70irregs]

Is the home owner, business owner and investor to blame for trying to maximize revenues and profits??

Hmmm How about NO BLAME NO BAILOUTS…. Interest more than defense budget. People are over levered on CC, house, auto. The $ is a problem.