Zone1 The Undeserving Rich, Bank Bailouts, And America's Soaring Inequality

[Toddsterpatriot]

Yeah, team transitory and all that.

The balance sheet under Biden has been coming down and it's a drop in the bucket compared to the expansion he inherited. I'll repeat: the balance sheet doubled under MAGA King and MAGA King wanted negative interest rates. No matter what you say about Biden, that is MAGA's legacy. Fiscal insanity.



The previous president threatened to fire/demote the Fed chair if he didn't lower interest rates to zero (or below). Take your talk of independence and shove it up your ass.

The balance sheet under Biden has been coming down and it's a drop in the bucket compared to the expansion he inherited.

Up $1.2 trillion since he took office. Shrinking fast. DURR.

No matter what you say about Biden, that is MAGA's legacy. Fiscal insanity.

The Fed is monetary, not fiscal.

Are you AOC?

The previous president threatened to fire/demote the Fed chair if he didn't lower interest rates to zero (or below).

Why didn't Biden do the same if Powell didn't raise rates and shrink the sheet in January 2021?

 

[Toddsterpatriot]

Yes, because real banks survive. In this day and age of stress tests and FDIC insurance, how fucking bad of a bank do you have to be to have a 1931-style run? Pretty fucken bad. In other words, not a real bank.

Why didn't Biden shut down the fake bank before it failed?
Any other fake banks Biden should seize?

 

[multivita-man]

The balance sheet under Biden has been coming down and it's a drop in the bucket compared to the expansion he inherited.

Up $1.2 trillion since he took office. Shrinking fast. DURR.

No matter what you say about Biden, that is MAGA's legacy. Fiscal insanity.

The Fed is monetary, not fiscal.

Are you AOC?

The previous president threatened to fire/demote the Fed chair if he didn't lower interest rates to zero (or below).

Why didn't Biden do the same if Powell didn't raise rates and shrink the sheet in January 2021?

Right, like I said, 10+ years of a Fed rave party, and MAGA King lit the house on fire, but why didn't Biden put it out faster? lol

 

[multivita-man]

Why didn't Biden shut down the fake bank before it failed?
Any other fake banks Biden should seize?

Regulators should have flagged it earlier - no disagreement. In fact, IIRC, they actually did identify their long-term bonds as a concern. But it was too late.

 

[Toddsterpatriot]

Right, like I said, 10+ years of a Fed rave party, and MAGA King lit the house on fire, but why didn't Biden put it out faster? lol

Up $1.2 trillion?
Sounds like Biden is throwing gasoline on the burning house.

 

[Toddsterpatriot]

And Biden is responsible how, moron?

Bidenflation is bad for banks, twit.

 

[KissMy]

Do some research. Check out the decline in health care inflation. The reality, the ACA contributed more to GDP growth during the Trump administration than anything else. In fact, without the ACA, GDP growth under Trump would have been negative.

Yup! - Healthcare spending as percent of Wages, GDP & Inflation have been dropping since the ACA became law.

 

[Toddsterpatriot]

Increasing rates is what happens after the balance sheet expands

Balance sheet has been expanding since 2008, rates stayed near zero.

Now get me a beer, AOC.

 

[Oddball]

Balance sheet has been expanding since 2008, rates stayed near zero.

Now get me a beer, AOC.

And a sammich!

 

[Oddball]

 

[CrusaderFrank]

You clearly don't understand how inflation works. I'll take you more seriously when you've convinced me you understand how inflation actually works, not what you picked up by reading some cute meme.

We’re all ears, please explain it all to us, Clarissa! How does inflation work?

 

[Harpy Eagle]

The $5 trillion in spending since '21 has inflated the fuck out of the currency and made the 0.8% interest T-bills the banks have been holding worthless.

But somehow the 6.5 trillion spent in just 2020 had no impact at all.

Weird!

 

[Winston]

Spending doesn't go on the balance sheet until the money is spent, it doesn't go on the balance sheet when the funding bill is signed. The CBO scored the bill as raising the deficit by 367 billion over ten years but did not account for an increase in tax revenue from enhanced enforcement by all those new IRS agents, LOL.

Biden's social and climate plan is set for a House vote after a CBO analysis said it would slightly boost the deficit

Democrats moved toward a vote on the social safety net and climate plan, as five House holdouts wanted to see the Congressional Budget Office score.

www.cnbc.com

 

[KissMy]

That's awful!!

I'm glad Biden told the Fed to shrink their balance sheet the day he took office.

He did that, right?

The Biden Budget didn't start until Q4-2021 and it did shrink their balance sheet.

 

[Oddball]

Spending doesn't go on the balance sheet until the money is spent, it doesn't go on the balance sheet when the funding bill is signed. The CBO scored the bill as raising the deficit by 367 billion over ten years but did not account for an increase in tax revenue from enhanced enforcement by all those new IRS agents, LOL.

Biden's social and climate plan is set for a House vote after a CBO analysis said it would slightly boost the deficit

Democrats moved toward a vote on the social safety net and climate plan, as five House holdouts wanted to see the Congressional Budget Office score.

www.cnbc.com

It goes on the balance sheet when the fed monetizes the debt, which is what is happening since there's no increased revenue.

 

[Oddball]

That is not the definition of a junk bond.

I understand the literal meaning....Regardless, the 0.8% interest treasuries that the banks are stuck holding are, for any practical purpose, junk.

Beside leverageing beyond what they were allowed, that's why SVB failed....That's why other banks are shitting themselves right now.

 

[Oddball]

The Biden Budget didn't start until Q4-2021 and it did shrink their balance sheet.

Riiiiiight....Xiden has spent over $5 trillion over and above what is annually budgeted, but the balance sheet is shrinking.

I have a bridge to sell you.

 

[Dont Taz Me Bro]

Do some research. Check out the decline in health care inflation.

That wasn't the promise that was made, now, was it?

 

[Dont Taz Me Bro]

This thread is in the Clean Debate Zone. There are no insults permitted. If you can't discuss like an adult you don't belong here.

 

[Toddsterpatriot]

The Biden Budget didn't start until Q4-2021 and it did shrink their balance sheet.

Biden's budget shrank the Fed's balance sheet how exactly?