Posted on 07/21/2021 9:21:23 AM PDT by ChicagoConservative27
Senate Majority Leader Chuck Schumer (D-NY) will release a report Wednesday that argues spending trillions will “ease inflation pressures.”
The report, written by Moody’s chief economist Mark Zandi, claims inflation worries are “overdone,” because “much of the additional fiscal support … is designed to lift the economy’s longer-term growth potential and ease inflation pressures,” according to Axios
(Excerpt) Read more at breitbart.com ...
$6trillion dollars is $20,000 to each man woman and child in America.
Have you ever had the feeling your being cheated?
Inflation “teleports” value, a tax on wealth without having to overly “take” a cut. Every dollar injected into the economy moves $1/M1 of value from the economy to whoever gets that dollar. A new $1T of national debt effectively injects $1T cash, shrinking the coverage of M1 (base money supply) currency to slice up M1+$1T of the economic pie - effectively implementing a 0.37% tax on wealth across the board (given current total national wealth of $269.6T).
Worth emphasizing:
Each $1T in new federal debt is effectively a ~0.37% tax on all wealth.
How much of these trillions are funding Democrat election efforts (campaign funds, get out the voted NGO, etc.)?
With as much money is out there they don’t even need donors of independent means. Just kickback from what they dole out.
So basically, inflation harms current and future SS check recipients way more than in harms China. We're hurting ourselves (and should hate inflation all the more).
Fun fact: China hasn't paid a penny in the Chinese treasures Americans bought from them in many decades. They owe us about $1 trillion, which is about as much as we owe them.
he knows the LEFTIST media will back his lie
Now you know why the Covid-19 virus affected mainly OLD PEOPLE!.......................
I’m pretty sure that reputable economists (Paul Krugman??) would say it doesn’t work, but Lincoln used Greenbacks to fund the Civil War. That money was truly not borrowed. There were no interest payments. It was simply printed and used to rev up the economy. Hitler also did the same thing in the 1930s to great effect in Germany.
Nowadays, we would never do such a thing. Instead, we do what we’re doing right here. Because, you know, it’s smarter.
He just thinks everyone else is stupid.
All propaganda all the time, never give up the con.
[[[The report, written by Moody’s chief economist Mark Zandi, claims inflation worries are “overdone,” because “much of the additional fiscal support … is designed to lift the economy’s longer-term growth potential and ease inflation pressures,” according to Axios]]]]
For tomorrow’s magical trick, Mark Zandi will push a rope.
Noooooo!!
Yes, nearly every government contractor is also a big donor.
He thinks that giving people more cash will help them purchase more things that have gone up in price.
That would work on the first day. From the second day onward...not so much.
He is an idiot.
In that case, why limit the spending to trillion$?
If we handle this right, everyone can be a quadrillionaire!!
Chucky defends using debt and taxpayer dollars to fund Democrat socialism. Go to he** Chuck.
After graphically learning how much “chucky” likes “frenching” little Haitian girls, I would conclude chucky is just plain heinous evil.
Yes, and a bucket of gasoline will ease that house fire.
That just isn’t how money works...ffs.
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