The economy is actually bad

[Professor Emeritus]

True, but we live in the age of technological capabilities beyond the dreams of people of the past. We have metamaterials. And we can't fix poverty? Our ruling class chooses not to fix poverty. They like it, they enjoy it.

Most rich people make their money by exploiting those poorer than them, one way or another. Poverty will not end until we take power away from the people who profit off of those disparties.

Unfortunately, nearly 100% of Republicans and the majority of rich Democrats don't wish to do that. They think it's their right to make money off of charging rent, forcing poor people to take out loans, and exploiting workers just because they don't have capital.

 

[the cac mamba]

so tired of people bringing up the stimmy for reasons for inflation. your right it was miniscule in comparison to how much money was pumped into the market to keep it afloat.

investment brehs will remember, but im not sure about anybody else. the market actually did crash for a very short time in the middle of the shutdowns thats when that money printer really went into overdrive

we can bytch about the rich owning stocks, but the market is where every single american with a 401k or a pension is getting their money it kept that shyt propped up, too

 

[2 Up 2 Down]

This will ALWAYS happen under crony capitalism.

 

[2 Up 2 Down]

it looks like the republicans are about to shut that faucet off, and i'm struggling to give a fukk

biden's asking for another 26 billion dollars this week where the fukk is this money going?

We you see that the military received nearly 900 billion last year you will then realize that 26 billion is nothing to them

 

[CopiousX]

I’m always on the verge of crying myself to sleep knowing how this movie finna end for me as a have-not…

not necessarily. The longer you live the better it is for for you.

Unless you plan on dying tommorow, then you should be sitting on a few hundred thousand by your 60s with a property or two under your belt. The only issue with our sysytem is that takes so damn long to reach that place in life. You rarely get there in your youthful 20s, 30s or even 40s.

But of course it could always be worse. In most of the world you are born a peasant with nothing and you die with nothing.

 

[2stainz]

 

[sportscribe]

That has nothing to do with what the post is showing at all.

I don't have the time nor energy to get into online debates these days, but if you don't understand the correlation between pandamic era free for all money printing, inflatation, wage stagnation and removal of government tax credits then you shouldn't be having economic discussions.

 

[Professor Emeritus]

I don't have the time nor energy to get into online debates these days, but if you don't understand the correlation between pandamic era free for all money printing, inflatation, wage stagnation and removal of government tax credits then you shouldn't be having economic discussions.

First off, that's not what you said. The OP article was about poverty increasing back to previous levels after the covid-era tax credits phased out, and you're trying to blame those credits for the poverty. It's a direct contradiction of the article's claim that those credits temporarily LOWERED poverty. Poverty levels have simply returned to where they were before the Covid tax credits.

Second, that list is a giant meaningless mismash.

- Pandemic money printing is one of the main things that kept the economy from getting bad even quicker. Take away that and we would have been in full-blown recession.

- You're simultaneously citing the pandemic money printing (meaning tax credits) then turn around and complain about the removal of those same tax credits, so which is it?

- Blaming wage stagnation on money printing is nonsensical. You're just throwing words out there.

- Inflation was going to happen anyway when Covid followed by a quick open screwed over supply chains, China shut down hard completely, and the Russian War. Would you rather have inflation with money in your pocket, or inflation AND no money in your pocket either?

 

[Mowgli]

So basically covid liberal mandates wiped out Americans and the bandaid they put on the problem is now gone so folks are bleeding out. Imagine that

 

[the cac mamba]

First off, that's not what you said. The OP article was about poverty increasing back to previous levels after the covid-era tax credits phased out, and you're trying to blame those credits for the poverty. It's a direct contradiction of the article's claim that those credits temporarily LOWERED poverty.


Second, that list is a giant meaningless mismash.

- Pandemic money printing is one of the main things that kept the economy from getting bad even quicker. Take away that and we would have been in full-blown recession.

- You're simultaneously citing the pandemic money printing (meaning tax credits) then turn around and complain about the removal of those same tax credits, so which is it?

- Blaming wage stagnation on money printing is nonsensical. You're just throwing words out there.

- Inflation was going to happen anyway when Covid followed by a quick open screwed over supply chains, China shut down hard completely, and the Russian War. Would you rather have inflation with money in your pocket, or inflation AND no money in your pocket either?

Massie was right about those 3 covid bills. they're the worst thefts/transfers of wealth to the rich in american history, and absolutely set off the inflation, big time

i cant even imagine the thieving and inflated costs that went on in the second one, when they realized realized how easily distracted we were with the 1200 dollar checks the pork must have been insane

 

[Professor Emeritus]

Massie was right about those 3 covid bills. they're the worst thefts/transfers of wealth to the rich in american history, and absolutely set off the inflation, big time

i cant even imagine the thieving and inflated costs that went on in the second one, when they realized realized how easily distracted we were with the 1200 dollar checks the pork must have been insane

You claim not to be a Republican, then you turn around a kiss the ass of a far-right libertarian as if he's the authority.

Just three years before that, Massie had voted in favor of the gigantic Trump tax cuts for the rich, but THIS was the transfer of wealth he was worried about?



Inflation occurred all over the world, the USA's inflation rate was just 54th highest in 2021. But somehow, some bills passed only in the USA caused that?

 

[the cac mamba]

You claim not to be a Republican, then you turn around a kiss the ass of a far-right libertarian as if he's the authority.


Just three years before that, Massie had voted in favor of the gigantic Trump tax cuts for the rich, but THIS was the transfer of wealth he was worried about?

those tax cuts, that i didnt support, were spread out over a decade, and did not remotely cause inflation

so you're saying when trump ran a 5 trillion dollar deficit in 2020, and biden immediately got into office and wrote a 2 trillion dollar bill, all in the span of a year, that didnt cause inflation?

what an embarrassing, unserious position

 

[sportscribe]

snip

Basically put, the covid-era money printing (stimulus packages) were there to ameliorate the effects of the policies that were put in place by the government to "combat corona". This included stimulus checks and child tax credits -, which have expired.

The excess money printing is a direct cause of the inflation (demand pull), as prices increase based on consumer demand. My initial comment is basically saying that someone has to bear the brunt of the excess liquidity, and that is seen in sharp price increases which is directly attributable to too much money in circulation.

Inflation causes a reduction in purchasing power meaning that if prices of consumer goods increase sharply and wages stay the same (as they have), then poverty increases as people have less money in their pockets.

I hope that helps you understand the cycle.

 

[Majestyx]

gas just went up 50 cents in a fukkin week, to almost 5 dollars where im at. and as far as i can tell, biden is either incapable or unwilling to address it. this shyt is unacceptable

if trump is running on 2 dollar gas next year, and biden is still telling people to "just go buy an electric car" , im not confident in biden winning at all. this is the one fukking issue that affects 95 percent of voters, and the dems are failing on messaging, badly

gas went up a dollar in LA. i was like WTF

 

[the cac mamba]

gas went up a dollar in LA. i was like WTF

so like from 5 to 6