The "free market" is a Big Government Program

[georgephillip]

??? We don't have Republican capitalism we have a mixed economy. This is Econ 101. Do you understand?

What are you missing?

Coronavirus Projected to Trigger Worst Economic Downturn Since 1940s

"As a proportion of gross domestic product, the deficit will end the fiscal year at almost 18%, its highest level since the year after World War II ended and up from 4.6% in 2019, the CBO said.

"Federal debt held by the public is projected to hit 101% of gross domestic product by the end of the fiscal year, up from 79% at the end of fiscal 2019, the CBO said."

 

[EdwardBaiamonte]

"Federal debt held by the public is projected to hit 101% of gross domestic product by the end of the fiscal year, up from 79% at the end of fiscal 2019, the CBO said."

And?????????????????????????

 

[Toddsterpatriot]

Under Republican capitalism it would be determined by the invisible hand's objective appraisal. Under libsocialism no way. This is why libsocialism just slowly starved 150 million to death

What do you see in the immediate future for Republican capitalism?

Coronavirus Projected to Trigger Worst Economic Downturn Since 1940s

"WASHINGTON—The coronavirus shutdown will induce the sharpest economic downturn and push the U.S. budget deficit to the highest levels since the 1940s, the Congressional Budget Office projects.

"The economy is likely to shrink 12% in the second quarter—a 40% drop if it were to persist for a year—and the jobless rate will average 14%, the nonpartisan research service said Friday.

"Job losses will come to 27 million in the second and third quarters.
The federal budget deficit is expected to reach $3.7 trillion by the end of the fiscal year on Sept. 30, the CBO said, up from about $1 trillion in the 12 months through March. Congress has authorized unprecedented deficit spending to offset the shutdown of vast swaths of the U.S. economy."

I apologize for the paywall.
WSJ has a two month subscription for $1 promotion that will expire shortly.

And our economy will still run circles around your Commie shitholes.

 

[georgephillip]

And our economy will still run circles around your Commie shitholes.

MAGA?

 

[georgephillip]

"Federal debt held by the public is projected to hit 101% of gross domestic product by the end of the fiscal year, up from 79% at the end of fiscal 2019, the CBO said."

And?????????????????????????

An economic system that functions like a cancer cell is undone by a virus.
Where's your invisible hand when you really need it?

Coronavirus Projected to Trigger Worst Economic Downturn Since 1940s

"The silver lining is that interest rates are projected to fall so low that the government’s net borrowing costs will decline even with the dramatic increase in borrowing, the CBO said.

"It sees the yield on 10-year Treasury notes hovering at 0.7% in the second half of this year and through 2021.

"The updated forecasts, published in a blog post by CBO Director Phillip Swagel, rest on assumptions that are 'subject to enormous uncertainty.'

"These include the extent to which the coronavirus is brought under control in the coming months and the possibility of a subsequent re-emergence."
https://seekingalpha.com/article/4141153-amazing-trump-stock-market-boom

Donald Trump on the stock market: 'It's all a big bubble'

 

[sparky]

Hope and Change or MAGA?

attracted the same drones

~S~

 

[georgephillip]

attracted the same drones

And the Democrat's solution...

Is Joe Senile?

 

[sparky]

~S~

 

[EdwardBaiamonte]

"Federal debt held by the public is projected to hit 101% of gross domestic product by the end of the fiscal year, up from 79% at the end of fiscal 2019, the CBO said."

And?????????????????????????

An economic system that functions like a cancer cell is undone by a virus.
Where's your invisible hand when you really need it?

Coronavirus Projected to Trigger Worst Economic Downturn Since 1940s

"The silver lining is that interest rates are projected to fall so low that the government’s net borrowing costs will decline even with the dramatic increase in borrowing, the CBO said.

"It sees the yield on 10-year Treasury notes hovering at 0.7% in the second half of this year and through 2021.

"The updated forecasts, published in a blog post by CBO Director Phillip Swagel, rest on assumptions that are 'subject to enormous uncertainty.'

"These include the extent to which the coronavirus is brought under control in the coming months and the possibility of a subsequent re-emergence."
https://seekingalpha.com/article/4141153-amazing-trump-stock-market-boom

Donald Trump on the stock market: 'It's all a big bubble'

I think your exceptionally low liberal IQ and liberal arrogance is leading you to conclude that capitalism has failed because it did not prevent our eliminate the pandemic?

In reality, it is doctors upon whom we depend to fight a pandemic. Do you understand now?

 

[sparky]

well capitalism has definitely failed Ed, anyone short of a turnip can see that ~S~

 

[georgephillip]

I think your exceptionally low liberal IQ and liberal arrogance is leading you to conclude that capitalism has failed because it did not prevent our eliminate the pandemic?

I wonder if you grasp the fact that one reason we lack an adequate supply of PPE and testing reagents is because capitalists are unsure how long current demand will last?

Do you even care?

How profit makes the fight for a coronavirus vaccine harder | Stephen Buranyi

 

[Toddsterpatriot]

I think your exceptionally low liberal IQ and liberal arrogance is leading you to conclude that capitalism has failed because it did not prevent our eliminate the pandemic?

I wonder if you grasp the fact that one reason we lack an adequate supply of PPE and testing reagents is because capitalists are unsure how long current demand will last?

Do you even care?

How profit makes the fight for a coronavirus vaccine harder | Stephen Buranyi

How adequate is the supply of medical gear in Cuba?

 

[georgephillip]

How adequate is the supply of medical gear in Cuba?

 

[Toddsterpatriot]

How adequate is the supply of medical gear in Cuba?

Doctors and no bandages or antibiotics. They're awesome!!

 

[RodISHI]

I'm sure it does but that doesn't sound like he's undermining the mom and pop hotel and motel businesses in any thing you have there. If people use his corporate hotels are they choosing to do that or are those corporate hotels with the Trump name the only ones available?

I think some of those using Trump hotels are doing so to gain favors from a life-long con man. Trump's also borrowed money from China's state-owned banks, and some of those loans will come due during his second term:

Trump owed tens of millions to Bank of China

"Donald Trump is warning 'China will own the United States' if Joe Biden is elected president. ..."

"But Trump himself has taken on debt from China. In 2012, his real estate partner refinanced one of Trump’s most prized New York buildings for almost $1 billion. The debt included $211 million from the state-owned Bank of China — its first loan of this kind in the U.S. — which matures in the middle of what could be Trump’s second term."

And so? Are you asserting that their is corruption in the president because of a business loan floating out there? You know business loans can be kinda risky and businesses do sometimes file bankruptcy. If I recall correctly one deal that that between one Trump adventure and a Saudi prince left the prince really pissy with Trump.

 

[georgephillip]

nd so? Are you asserting that their is corruption in the president because of a business loan floating out there? You know business loans can be kinda risky and businesses do sometimes file bankruptcy.

I don't see any evidence of Trump's integrity, do you?

Opinion | Trump’s Corruption: The Definitive List

"They don’t even try very hard to hide it.

"President Trump, his family and more than a few of his appointees are using his presidency to enrich themselves.

"They are spending taxpayer dollars for their own benefit.

"They are accepting sweetheart deals from foreigners.

"And they are harnessing the power of the federal government on behalf of their businesses.

"There’s a word for this: corruption."

 

[EdwardBaiamonte]

well capitalism has definitely failed Ed,

???China just switched to Republican capitalism from socialism, instantly eliminated 40% of the entire planet's poverty, and prevented another 60 million from slowly starving to death. See why they say liberalism is based in perfect ignorance?

 

[EdwardBaiamonte]

I wonder if you grasp the fact that one reason we lack an adequate supply of PPE and testing reagents is because capitalists are unsure how long current demand will last?

Totally 100% stupid of course since governments, hospitals etc etc have already issued purchase orders for 1000's of times more than they can produce. New producers are jumping into the market every day!! If ever Republican capitalism provided an incentive to produces stuff this is it.

Conversely, 200 million human beings slowly starved to death under socialism because there was no incentive to produce anything. This is what you support? How stupid is that?

 

[wamose]

Government shouldn't have anything to do with the free market. Government does however try to rig the free market.

 

[georgephillip]

Conversely, 200 million human beings slowly starved to death under socialism because there was no incentive to produce anything. This is what you supp

Why do capitalists fear competition from the public sector?

Capitalism Can’t Be Repaired, Coronavirus Shows Its Huge Weaknesses - CounterPunch.org

"A staggering 20 million U.S. employees have lost their jobs and filed for unemployment benefits during the month before April 15.

"This is absurd.

"We the people, the public, will now pay a portion of the wages and salaries their employers no longer do.

"The unemployed will often blame themselves; many will lose connections to their skills, their former employer, and their fellow workers; many will worry about getting old jobs back; many will borrow (often too much); all will worry about mounting debts; etc.

"They would be far better off if they all got socially useful jobs as well as most of their former paychecks.

"The government could be such an employer of last resort: when private capitalists either cannot or will not hire because to do so is not profitable for them."