Biden’s Spending Plans Would Boost Economy, Not Spark Inflation: Moody’s

Discussion in 'Current Events' started by Arkanis, Jul 22, 2021.

  1. HB Surfer

    HB Surfer Well-Known Member Past Donor

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    This is economic illiteracy.

    Business are begging and paying more than minimum wage to get workers. You don't seem to understand Economics 101. It will take care of itself it the Government will quit spending and printing money and monstrous rates and let the economy take care of itself.
     
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  2. HB Surfer

    HB Surfer Well-Known Member Past Donor

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    Read that again people. 10A just dropped a truth bomb on you all.
     
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  3. GrayMan

    GrayMan Well-Known Member

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    Shouldnt we spending it to deal with production shortages instead of buying into the ground in roads that should already be funded on existing budgets?

    I mean we have severe shortage issues with vehicle chips. What's being done about that? You won't get ev vehicles if we don't have chips.
     
  4. GrayMan

    GrayMan Well-Known Member

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    No, that was covid and democrat governors shutting down the economy.
     
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  5. TheGreatSatan

    TheGreatSatan Banned

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    "Printing more money will reduce inflation"

    This has to be the single dumbest political statement in the last 100 years. Just imagine Trump said this...
     
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  6. Arkanis

    Arkanis Well-Known Member

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    Your statement is wrong.

    Investing in infrastructure isn't printing money.

    Did you even have the courage to read the article?...or would you rather wallow again in your fantasy world where Trump is still POTUS?
     
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  7. TheGreatSatan

    TheGreatSatan Banned

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    :roflol: This guy admits printing money doesn't create inflation.

    If 3.5 helps, wouldn't 10 be better?

    Will the shovels be ready this time?

    For every dollar that makes it to being spent on infrastructure, 10 will be stolen.

    This is what propagandist sound like. I don't need to read your article explaining why printing money doesn't create inflation, because I know it's wrong and stupid.
     
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  8. Arkanis

    Arkanis Well-Known Member

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    Unsatisfied with the $900 billion stimulus deal that Congress passed on Monday, Trump urged lawmakers to amend the legislation, and threatened to oppose it otherwise. “I am asking Congress to amend this bill and increase the ridiculously low $600 to $2,000 ... and to send me a suitable bill or else the next administration will have to deliver a Covid relief package,”

    https://www.vox.com/2020/12/23/22197037/trump-2000-stimulus-checks

    .... Wrong and stupid.
     
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  9. GrayMan

    GrayMan Well-Known Member

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    Unless the money actually increases productivity and goods, it will just cause inflation.
     
  10. TRFjr

    TRFjr Well-Known Member Past Donor

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    If that money is used for infrastructure you might have an argument, but only one third of that proposed spending bill is spent on infrastructure

    to grow an economy wealth has to be created not redistributed
    redistributing wealth is the same as taking a bucket of water out of the deep end of the pool and dump it in the shallow end then claim you made the pools water level rise
     
    Last edited: Jul 23, 2021
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  11. Arkanis

    Arkanis Well-Known Member

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    You comment without having read the article.
     
  12. kazenatsu

    kazenatsu Well-Known Member Past Donor

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    I don't think Moody's really knows what they are talking about.

    More likely political bias.

    If Trump was doing the same thing, they'd be saying the world was going to end.

    This "boost" of the economy and continued massive deficit spending seems extremely irresponsible.
     
    Last edited: Jul 23, 2021
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  13. kazenatsu

    kazenatsu Well-Known Member Past Donor

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    Except that's not happening. They've still been running massive deficit spending.

    They keep saying they're going to "tax the rich", but they're extremely reluctant to really do so. But they've already started spending all the money now.
     
    Last edited: Jul 23, 2021
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  14. TRFjr

    TRFjr Well-Known Member Past Donor

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    Don't need to read the article, been defeating the redistribution argument for decades
     
    Last edited: Jul 23, 2021
  15. FreshAir

    FreshAir Well-Known Member Past Donor

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    yes, you seem to have master that... economic illiteracy

    sadly many businesses will pay the least they can pay... period
     
    Last edited: Jul 23, 2021
  16. TheGreatSatan

    TheGreatSatan Banned

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    Deflect much?

    Does printing money reduce inflation? Yes or no.

    If evil orange man's stimulus caused inflation, won't pedo Joe's do the same?
     
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  17. flyboy56

    flyboy56 Well-Known Member Past Donor

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    How Moody's sold its ratings - and sold out investors

    WASHINGTON -- As the housing market collapsed in late 2007, Moody's Investors Service, whose investment ratings were widely trusted, responded by purging analysts and executives who warned of trouble and promoting those who helped Wall Street plunge the country into its worst financial crisis since the Great Depression.

    A McClatchy investigation has found that Moody's punished executives who questioned why the company was risking its reputation by putting its profits ahead of providing trustworthy ratings for investment offerings.


    https://www.sunherald.com/news/business/article36459435.html
     
    Last edited: Jul 23, 2021
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  18. Arkanis

    Arkanis Well-Known Member

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    The government doesn't print money when it invests in the country's infrastructure.

    It borrows from banks like any other company and has to pay back its debt.

    I can't even believe I have to explain this to someone on a political forum.
     
  19. Cougarbear

    Cougarbear Banned

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    Again, 2017 was coming out of the dismal Obama-Biden debacle with the economy and 2020 was a shutdown year with Covid19. You cannot run away from those two facts. average real GDP growth on a seasonally adjusted basis under Obama was only 1.64 percent annually from 2011-17. He said repeatedly, Obama said the new normal for GDP was 2% max. Trump beat that in 2018-19 handedly. Doubled the crybaby in chief Obama. Those are just the facts.
     
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  20. Arkanis

    Arkanis Well-Known Member

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    I would love to discuss economics with you, but unfortunately you don't know your definitions.

    The GDP grew by 1.7% in 2016.

    That's modest growth, but certainly not a debacle.

    False.

    2011: 1.6%
    2012: 2.2%
    2013: 1.8%
    2014: 2.5%
    2015: 3.1%
    2016: 1.7%

    Average = 2.15%/year.

    Trump has the economy growing at 2.5%/year from 2017 to January 2020.

    https://www.statista.com/statistics/188165/annual-gdp-growth-of-the-united-states-since-1990/

    So, for you Trump's performance of +0.35%/year makes him a genius?
     
    Last edited: Jul 23, 2021
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  21. Dutch

    Dutch Well-Known Member Past Donor

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    That’s what Democrats do best, spend someone else’s money. They’re good at it.

    As for “Biden proves once again”, he certainly does - every time he opens his mouth. Democrats be better off if they just let him sniff kids, at least that is what expected of him.
     
    Last edited: Jul 23, 2021
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  22. Hoosier8

    Hoosier8 Well-Known Member Past Donor

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    The writer of the Moody’s opinion is a big democrat donor and supporter.
     
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  23. 21Bronco

    21Bronco Banned

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    M2 is too high. Inflation will be the result. The Fed's balance sheet has ballooned.

    At some point, incremental government debt has a diminishing return on increase to real GDP. We're about there.
     
    Last edited: Jul 23, 2021
  24. Bluesguy

    Bluesguy Well-Known Member Donor

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    We need to stop printing money making what we have worth less. We need people going back to work for the wages they were earning before COVID, no one has explained why COVID should cause a wage increase for everyone care to try?
     
  25. Bluesguy

    Bluesguy Well-Known Member Donor

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    Moody's has been historically off base claiming the tax rate cuts would cause higher deficits when in fact they cause huge increases in revenues. To come out and publicly state that the government simply printing money and flooding the economy with it will not inflation the currency is embarrassingly laughable.

    I'm retired 5% inflations means my retirement money is worth 5% less. I hope all retires realize this along with everyone who have investments and then vote these Democrats out of office.
     
    Last edited: Jul 23, 2021
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