Posted on 07/23/2021 12:48:24 PM PDT by blam
That be the commie plan
Not til I get back in! ;)
Any further stimulus spending is intended to fix a problem that, in Druck’s words, “doesn’t exist anymore.” He added: “If I was Darth Vader and I wanted to destroy the US economy, I would do aggressive spending in the middle of an already hot economy.”
If you thought the real-estate bubble bust decade ago was big, this money printing bust will make that one look like Sunday school picnic.
Are there any examples of countries who created long term prosperity with excess money printing made necessary due to excessive budget deficits?
Weimar tried it, Zimbabwe tried it, Argentina tried it, so where is their long term prosperity?
$28 trillion national debt, sky high stock market valuations, rising inflation. What could go wrong?
“Are there any examples of countries who created long term prosperity with excess money printing made necessary due to excessive budget deficits?”
I’ll give you two of the biggest success stories.
1) The British Empire
2) The American Empire
We clear debt and pay our bills. While adding new debt for future prosperity.
Never forget debt keeps people working and productive.
Druck gets in and out of the market with much aplomb about every six months or so.
It’s a very old trick.
The Roman Empire debased their coinage.
In the early empire a denarius was 90% silver. Late empire it was barely 5% silver.
You’re correct.
Like you said:
“oldest trick in the book.”
There is a canyon size difference between prudent debt and debt accumulated for UNPRODUCTIVE purposes. Buying a house with mortgage is prudent. Buying a Corvette on borrowed money is not prudent debt.
“There is a canyon size difference between prudent debt and debt accumulated for UNPRODUCTIVE purposes. Buying a house with mortgage is prudent. Buying a Corvette on borrowed money is not prudent debt.”
True.
Neither of those purchases are blowing up the economy though. Unless you compounded those purchases massively.
Besides, if I buy inflated real estate in a deflationary environment, it could take me 15 to 30 years to clear the mortgage.
The corvette depending on model & year would be easier to pay off, during the same deflationary time period.
Bigger than Clinton’s Bubble ?
it’s not 28 trillion..
it’s about 230 trillion.. people always leave out unfunded liabilities.
Look at the federal budget with focus. MAJORITY OF SPENDING IS for welfare in various forms. $600/week bonus for remaining unemployed?
Monday afternoon is the time AMD gives their quarterly results.
Looking good but....too many times the stock goes up a bit then down again and just meanders. Their $35 billion purchase of another company has been approved by the US and EU this year so hopefully on tuesday morning the stock zooms up and up.
If Trump was president the economy would be roaring along.
Is NOW the time I should be investing in Frozen Orange Juice Futures? ;)
A huge swath of the spending is social security and healthcare for elderly Americans.
Good luck cutting those expenditures.(I’m against hurting the elderly BTW.) So massive cuts for old timers is a non starter.
The unemployment benefits and PPP loans are temporary.(so far)
When those cash infusions run out, individuals and businesses will have to “sink or swim.”
Many of them will drown.
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