The US Economy Is Beating The World But You Wouldn’t Know It From The Media

[whitehall]

Empty shelves in stores, inflation highest in 40 years, energy prices so high that some people worry about heating their homes and people would rather stay at home on the dole or unemployment than work. Let's go Brandon.

 

[pknopp]

What is the relationship between the economy and government debt?

Ask the countries working to undermine the dollar. It is going to happen. The rest of the world isn't going to allow us to print, print, print while they struggle forever.

 

[EyeBRollin]

Ask the countries working to undermine the dollar. It is going to happen. The rest of the world isn't going to allow us to print, print, print while they struggle forever.

Bullshit. What does the US government debt represent? Be specific.

 

[pknopp]

Bullshit. What does the US government debt represent? Be specific.

It represents our ability to do things other countries can not. It's not going to last forever because we abuse that.

 

[rightwinger]

Empty shelves in stores, inflation highest in 40 years, energy prices so high that some people worry about heating their homes and people would rather stay at home on the dole or unemployment than work. Let's go Brandon.

How are the supply chains and energy prices in the rest of the world?

We do not exist in a vacuum

 

[EyeBRollin]

It represents our ability to do things other countries can not. It's not going to last forever because we abuse that.

Wrong. It is clear by your “30 trillion in debt” comment you are misinformed about what government debt signifies. Don’t push right-wing propaganda.

 

[pknopp]

Wrong. It is clear by your “30 trillion in debt” comment you are misinformed about what government debt signifies. Don’t push right-wing propaganda.

Bite me. Nothing I said is "right wing". Nothing I said is wrong either.

China is undermining the dollar’s global role - OMFIF

Democrats promised to make the rich pay their fair share. Why are they not to address the debt?

 

[EyeBRollin]

Bite me. Nothing I said is "right wing". Nothing I said is wrong either.

China is undermining the dollar’s global role - OMFIF

Democrats promised to make the rich pay their fair share. Why are they not to address the debt?

There is no “addressing” government debt. That is right-wing propaganda to promote austerity. Tell us when the $30 trillion debt is due.

 

[LordBrownTrout]

30 trillion in debt, inflation at 10 percent and rising quickly, supply chain problems, supply shortages, etc. Yeah, things are are great.

 

[White 6]

We can't.

I don't know. I really don't. GDP will probably turn out to be over $20 Trillion Dollar$ this year with tax revenue of $3.86 trillion Dollars. I know there is a difference, but I can't help but remember my house put me in debt for over twice my annual income and I had a 30-year payment schedule. $30 Trillion is approx. 1.3 times the average size of annual GDP, and about 10 times annual tax revenue. I certainly did not have to do a 10-year repayment plan, but neither do we, and I don't think the size of the debt takes in, the interest on the debt. I was always able to manage my debt, because I controlled my spending. I probably would not be debt free, if I had my income (though usually increasing), but let somebody else control my spending. I made "A" in economics (and managerial finance for that matter), but did not go far enough with it to be able to properly calculate any analytics on economy of this scale, as there are just too damn many variables for me to account for. The thing that worries me most, it that possibly the people who supposedly went far enough, still could just be frigging wrong. Kind of like me making a deal, acting confident, as part of getting the best deal, signing, shaking hands, but walking away, really thinking "boy, I hope this shit works to plan, or I'm severely fucked", only this time, I have very little input on making the plan work.

 

[pknopp]

There is no “addressing” government debt. That is right-wing propaganda to promote austerity. Tell us when the $30 trillion debt is due.

When the dollar gets knocked down and we become Venezuela. You do understand it was Trump that said that debt doesn't matter?

 

[iamwhatiseem]

The national media could sure as hell be doing a better job of explaining the driving forces behind this inflation (exploding demand and damaged supply), but they may think that it's too complicated to fit into short news stories. Obviously the MAGA media is going to just simplistically blame Biden to support its political agenda.

I have seen stories on this unexpected phenomenon of people just not going back to work even when their benefits stop, and we should be examining that more carefully. That's a fascinating societal/cultural issue.

But outside of that, the numbers look damn good, and the rest of the world hopes it can catch up. The media sure could point that out.

It is a cultural shift.
My son, a respiratory specialist, is making just ungodly amounts of money this year.
Why? Because of contracts hospitals are FORCED to make in order to get their lazy staff to work more.
Here is one of his contracts... it ran from Oct. 1 - Dec. 1. You sign the contract and you agree to working 2 weekend shifts for those two months. (Total of 4 extra days) You agree to work both Halloween and Thanksgiving day. (now 6 extra days) And finally, you agree to work 3 extra shifts for both October and November for a grand total of 12 extra days of work.
No how much the contract paid him? $17,000 on top of his normal pay.
That is a $1,416 bonus for each day he worked.
He just signed a new contract that is effective from Dec. 2nd to February. This one is for working one extra day every week, and two of those a month must be weekend. Again the contract is for 8 weeks. But this one is only for 8 extra days. The bonus this time is $20,000. A bonus of $2,500 per day.
Why are they doing this?
They also have National Guard members working non critical jobs.
Why the shortage??
Two things... one in 2020 they had 17 respiratory staff members take an early retirement. Several of them when this all first started. Just when they were needed most, they walked off. This happened all over the country, and it isn't talked about enough. Despicable people.
But more that that - they have 19 staff members who went PRN in 2020. PRN or per diem is what the medical field calls fully qualified individuals working part-time. PRN use to be what a lot of new hires and retiring staff did. They work when needed, usually much less hours than full timers. Except now PRN has become "I work when I want to". Some only working 1 or 2 days a week.
I asked my son "why are they doing this? They chose to only work that many hours when they could be making a years worth of wages in a few months?? I don't get that." - His reply - The culture has changed, a lot of kids don't have the work ethics like people use to, they really only want to work enough to just get by"

 

[pknopp]

I don't know. I really don't. GDP will probably turn out to be over $20 Trillion Dollar$ this year with tax revenue of $3.86 trillion Dollars. I know there is a difference, but I can't help but remember my house put me in debt for over twice my annual income and I had a 30-year payment schedule. $30 Trillion is approx. 1.3 times the average size of annual GDP, and about 10 times annual tax revenue. I certainly did not have to do a 10-year repayment plan, but neither do we, and I don't think the size of the debt takes in, the interest on the debt. I was always able to manage my debt, because I controlled my spending. I probably would not be debt free, if I had my income (though usually increasing), but let somebody else control my spending. I made "A" in economics (and managerial finance for that matter), but did not go far enough with it to be able to properly calculate any analytics on economy of this scale, as there are just too damn many variables for me to account for. The thing that worries me most, it that possibly the people who supposedly went far enough, still could just be frigging wrong. Kind of like me making a deal, acting confident, as part of getting the best deal, signing, shaking hands, but walking away, really thinking "boy, I hope this shit works to plan, or I'm severely fucked", only this time, I have very little input on making the plan work.

GDP includes the billions and billions we simply print. Can you not see what is happening because of that?

 

[EyeBRollin]

When the dollar gets knocked down and we become Venezuela. You do understand it was Trump that said that debt doesn't matter?

Trump is correct. Funny how the truth about debt comes out when a Republican is president. Under Democrats, national debt is suddenly a problem.

 

[pknopp]

Trump is correct. Funny how the truth about debt comes out when a Republican is president. Under Democrats, national debt is suddenly a problem.

I've condemned it for years. It's not going to last forever because we abuse it.

China is undermining the dollar’s global role - OMFIF

 

[EyeBRollin]

I've condemned it for years. It's not going to last forever because we abuse it.

China is undermining the dollar’s global role - OMFIF

Then you’ve condemned economic growth for years.

 

[Papageorgio]

The U.S. economy is expanding at a 7% rate over the last three months, up by 5% from the beginning of the year. That number isn’t just three times the expected growth rate in Europe, it almost doubles the rate of growth in China.


Rolling into the holiday season, America is enjoyingrecord low levels of unemployment and levels of economic growth that exceed the wildest unfulfilled promises of Donald Trump. But at the same time, CNN reports that President Biden’s approval levels for handling the economy are at record lows. The best economy in 50 years enjoys just a 44% approval rating.

Because a disaster-addicted media will find disaster, even if it has to create it.

The U.S. economy is beating the world, thanks to Joe Biden, but you wouldn't know it from the media

The U.S. economy is expanding at a 7% rate over the last three months, up by 5% from the beginning of the year. That number isn’t just three times the expected growth rate in Europe, it almost doubles the rate of growth in China. As reported in The...

m.dailykos.com

Best economy in 50 years, and in the winter during a pandemic. What will it be like next year?

The government shutdown the economy last year, then added $4 trillion in spending, this would have happened no matter who was in office.

 

[pknopp]

Then you’ve condemned economic growth for years.

In the way we did it? Absolutely.

 

[EyeBRollin]

In the way we did it? Absolutely.

The alternative you advocate for is economically catastrophic.

 

[White 6]

GDP includes the billions and billions we simply print. Can you not see what is happening because of that?

It is quite a bit like a pyramid scheme. I do know that a lot of people have made a lot of profit on pyramid schemes, until they failed at a given point of history, echoing Soros theories on reflexivity, like the panic and financial crash of 08-09.