Official Biden / Harris Administration Thread

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Zippergate
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In reply to dajo9 • 9:43a, 5/3/24
Of course they say that. But do you know what their answer is to this problem? Secondly, is there any evidence whatsoever that it will work?

Also, look up Rational Expectations.
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dajo9
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In reply to Zippergate • 9:45a, 5/3/24
Zippergate said:
Of course they say that. But do you know what their answer is to this problem? Secondly, is there any evidence whatsoever that it will work?

Also, look up Rational Expectations.


Their answer to inflation is to stop printing money.

Jared Bernstein did a better job answering the question than you.
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Zippergate
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In reply to dajo9 • 9:59a, 5/3/24
No, it's not. It's to raise taxes. Look it up. One problem (among many) is, the marginal propensity to consume for the people receiving the government's largesse may be different than the ones paying the taxes. I mentioned the Soviets because micromanaging the economy like this is what they tried to do and that didn't work out particularly well for them did it (sorry Bernie).

To answer your question of why we borrow, what if we didn't? What if we had simply paid for all of the government's spending with cash, what would inflation be? No bonds, so all that cash is multiplying through the economy. If we are switch to a policy where government spending is not tethered to borrowing, what kind of message is that to our creditors who hold trillions of bonds, and what will the effect of that be? Have you actually thought about any of the repercussions of this?

Your excuses for Bernstein are shocking. Everything about that clip screams incompetence and idiocy.
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dajo9
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In reply to Zippergate • 10:39a, 5/3/24
Zippergate said:
No, it's not. It's to raise taxes. Look it up. One problem (among many) is, the marginal propensity to consume for the people receiving the government's largesse may be different than the ones paying the taxes. I mentioned the Soviets because micromanaging the economy like this is what they tried to do and that didn't work out particularly well for them did it (sorry Bernie).

To answer your question of why we borrow, what if we didn't? What if we had simply paid for all of the government's spending with cash, what would inflation be? No bonds, so all that cash is multiplying through the economy. If we are switch to a policy where government spending is not tethered to borrowing, what kind of message is that to our creditors who hold trillions of bonds, and what will the effect of that be? Have you actually thought about any of the repercussions of this?

Your excuses for Bernstein are shocking. Everything about that clip screams incompetence and idiocy.
MMT has nothing to do with command and control of the economy. You mention the Soviets as an unrelated boogeyman.

As I said, I'm not an advocate of MMT but I find the theory very interesting and I especially like how some of their simple questions breaks people's brains.

I'm just not sure that rich people / pensions / trading partners investing in something else other than Treasuries would have the negative impact you are implying. MMT could pair nicely with a wealth tax. Why pay interest when you can just confiscate obscene levels of wealth? Now, Wall Street would have major ramifications as the concept of the U.S. Treasury as a risk free asset is at the core of what it does. And it is good to have a risk free asset like U.S. Treasuries. Maybe the Treasury could issue some debt and do some printing. Maybe the Treasury could issue 10 years at 2% and only issue the amount for which there is demand? Print the rest. Acceptable spending, inflation and taxation become political questions.

I don't know - interesting theory that should have it's relevant questions answered by people like you and Jared Bernstein.
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Zippergate
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In reply to dajo9 • 11:05a, 5/3/24
MMT has nothing to do with command and control of the economy. You mention the Soviets as an unrelated boogeyman.

You lost me right there. MMT is all about replacing the market with government control. Your following comments prove as much.

As I said, I'm not an advocate of MMT but I find the theory very interesting and I especially like how some of their simple questions breaks people's brains.

We have (had?) as system that worked. It brought hundreds of millions a middle-class lifestyle. That is NOT a trivial thing. Look around the world and see what the average person is getting from their economic system. My point is this: You say you don't advocate for MMT yet you support the economic advisor to the president who clearly does. They are trashing the existing system to deploy a "very interesting" economic theory that has destroyed one economy after another every single time it has been used. If you step off the curb into the path of a bus, it does not matter whether you feel like you deserve the right of way or not.

I'm just not sure that rich people / pensions / trading partners investing in something else other than Treasuries would have the negative impact you are implying. MMT could pair nicely with a wealth tax. Why pay interest when you can just confiscate obscene levels of wealth?

Sure, take away their wealth. What do you think that will do to the pensions of the working class?

Now, Wall Street would have major ramifications as the concept of the U.S. Treasury as a risk free asset is at the core of what it does. And it is good to have a risk free asset like U.S. Treasuries. Maybe the Treasury could issue some debt and do some printing. Maybe the Treasury could issue 10 years at 2% and only issue the amount for which there is demand? Print the rest. Acceptable spending, inflation and taxation become political questions.

"Risk free"? How exactly are treasuries risk free when in the same paragraph you're telling me that inflation is a political question. Do you think a Saudi give's a flying **** for your political objectives. He wants a REAL, not nominal, rate of return.

I don't know - interesting theory that should have it's relevant questions answered by people like you and Jared Bernstein.

Talk is for sports bars. What exactly makes Jared Bernstein qualified to give advice on economic policy?
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dajo9
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In reply to Zippergate • 11:23a, 5/3/24
Zippergate said:
MMT has nothing to do with command and control of the economy. You mention the Soviets as an unrelated boogeyman.

You lost me right there. MMT is all about replacing the market with government control. Your following comments prove as much.

As I said, I'm not an advocate of MMT but I find the theory very interesting and I especially like how some of their simple questions breaks people's brains.

We have (had?) as system that worked. It brought hundreds of millions a middle-class lifestyle. That is NOT a trivial thing. Look around the world and see what the average person is getting from their economic system. My point is this: You say you don't advocate for MMT yet you support the economic advisor to the president who clearly does. They are trashing the existing system to deploy a "very interesting" economic theory that has destroyed one economy after another every single time it has been used. If you step off the curb into the path of a bus, it does not matter whether you feel like you deserve the right of way or not.

I'm just not sure that rich people / pensions / trading partners investing in something else other than Treasuries would have the negative impact you are implying. MMT could pair nicely with a wealth tax. Why pay interest when you can just confiscate obscene levels of wealth?

Sure, take away their wealth. What do you think that will do to the pensions of the working class?

Now, Wall Street would have major ramifications as the concept of the U.S. Treasury as a risk free asset is at the core of what it does. And it is good to have a risk free asset like U.S. Treasuries. Maybe the Treasury could issue some debt and do some printing. Maybe the Treasury could issue 10 years at 2% and only issue the amount for which there is demand? Print the rest. Acceptable spending, inflation and taxation become political questions.

"Risk free"? How exactly are treasuries risk free when in the same paragraph you're telling me that inflation is a political question. Do you think a Saudi give's a flying **** for your political objectives. He wants a REAL, not nominal, rate of return.

I don't know - interesting theory that should have it's relevant questions answered by people like you and Jared Bernstein.

Talk is for sports bars. What exactly makes Jared Bernstein qualified to give advice on economic policy?
It's really a waste of time discussing this with you. Every post you have gotten core things about MMT wrong. Then you say Jared Bernstein supports MMT after you posted a video in which Jared Bernstein says of MMT, "I don't get it. I don't know what they're talking about". In that you and Jared Bernstein have everything in common.
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Zippergate
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In reply to dajo9 • 12:09p, 5/3/24
It's really a waste of time discussing this with you. Every post you have gotten core things about MMT wrong. Then you say Jared Bernstein supports MMT after you posted a video in which Jared Bernstein says of MMT, "I don't get it. I don't know what they're talking about". In that you and Jared Bernstein have everything in common.

It truly is. You admit you don't understand the subject but then makes statements as if you do.

Clearly, Bernstein doesn't get much of anything. He even has a hard time differentiating between borrowing and lending. The only coherent thing he said in that clip is that the government clearly prints money to pay for things which is what the MMT crowd advocates for. Before you scream, "that's not what MMT is," try to understand that just because you and the MMT crowd are stuck in a first-order-thinking paradigm does not mean that everyone else is as well.
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movielover
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3:54p, 5/3/24



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movielover
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9:28p, 5/3/24
RFK Jr says Biden a bigger threat to democracy than Trump. 3 minute clip.


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movielover
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10:53a, 5/4/24
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Cal88
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12:26p, 5/4/24
Luke chimes in:
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movielover
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In reply to Cal88 • 1:01p, 5/4/24
Too many bong hits.

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Unit2Sucks
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1:03p, 5/4/24
The GOP wants you to suffer so that you will be dumb enough to elect Trump and suffer even more.

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bear2034
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1:02a, 5/5/24
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concordtom
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7:29a, 5/5/24
Remember when Donald Stern claimed that had Hillary gone on his show, we'd never have had this Donald Trump mess?

People like me didn't trust Stern. He'd have asked Hillary about her sex life and made fun of her, for shock.

But Howard exposed himself as a verifiable A Hole in later interviews, and is claimed to be reborn through therapy.

So now Biden takes him up on it.
Let's see how it turns out.
No doubt Stern wants to humanize Biden and show that he's not mentally finished yet.

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bear2034
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6:51p, 5/5/24
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movielover
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2:34p, 5/6/24
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movielover
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8:04p, 5/6/24

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Zippergate
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9:25p, 5/6/24
MMT is about expanding gov't power and expropriating wealth

https://open.substack.com/pub/quoththeraven/p/modern-monetary-theory-and-boiling?r=aiop6&utm_campaign=post&utm_medium=web

Here's a snip...

"Heavy taxation is unpopular. High interest rates are unpopular. Price inflation is unpopular. But if the State can blend taxing, borrowing, and printing in just the right amounts, then they can boil the frogs without them jumping out of the pot.

This insight reveals something about MMT. As much as its proponents brandish accounting tautologies and purely descriptive claims about government finance, in the end it is 100% political. Their framework is about giving the State maximum powerpower to expropriate and power to override what would prevail in unhampered markets. This is on full display in their writings and in their new film. They want to revolutionize the way politicians and voters view money and debt for the sake of their progressive agenda. When it comes to climate change, inequality, healthcare for all, and all the other Green New Deal issues, they want a world in which nobody asks about the costs."


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movielover
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In reply to Zippergate • 10:00p, 5/6/24
Senator Kennedy recently asked a leading expert, repeatedly, how much the US would have to spend over 20 years fighting the theory of man-caused Global Warming. He refused to answer.

Finally Kennedy threw out the number: $50 Trillion!!

Then he asked him how much that would decrease temperatures by. He couldn't answer.
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dajo9
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In reply to Zippergate • 6:24a, 5/7/24
Zippergate said:
MMT is about expanding gov't power and expropriating wealth

https://open.substack.com/pub/quoththeraven/p/modern-monetary-theory-and-boiling?r=aiop6&utm_campaign=post&utm_medium=web

Here's a snip...

"Heavy taxation is unpopular. High interest rates are unpopular. Price inflation is unpopular. But if the State can blend taxing, borrowing, and printing in just the right amounts, then they can boil the frogs without them jumping out of the pot.

This insight reveals something about MMT. As much as its proponents brandish accounting tautologies and purely descriptive claims about government finance, in the end it is 100% political. Their framework is about giving the State maximum powerpower to expropriate and power to override what would prevail in unhampered markets. This is on full display in their writings and in their new film. They want to revolutionize the way politicians and voters view money and debt for the sake of their progressive agenda. When it comes to climate change, inequality, healthcare for all, and all the other Green New Deal issues, they want a world in which nobody asks about the costs."


Scare tactics from the Austrian economists who have been completely discredited in recent years
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Zippergate
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In reply to dajo9 • 1:49p, 5/7/24
Discredited by the MMT'ers who just happen to be in favor with the Regime. Social "science"
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bearister
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In reply to bear2034 • 2:09p, 5/7/24
bear2034 said:




5…4…3…2…1…



Cancel my subscription to the Resurrection
Send my credentials to the House of Detention
I got some friends inside
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movielover
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9:29a, 5/8/24
It's projecting.

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Zippergate
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In reply to movielover • 9:55a, 5/8/24
"Well I tell you what, if you have a problem figuring out whether you're for me or Trump, then you ain't black." --Joe Biden (not black)
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bearister
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10:10a, 5/8/24
Cancel my subscription to the Resurrection
Send my credentials to the House of Detention
I got some friends inside
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The Ghoul
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In reply to movielover • 10:28a, 5/8/24
movielover said:
It's projecting.

I'm impressed she was able to record that video considering that she doesn't know how to use a computer.


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bear2034
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11:11a, 5/8/24
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bear2034
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11:38a, 5/8/24
Russiagate, the impeachments, the stolen 2020 election, the weaponization of government to imprison Trump...this is the real insurrection.
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bearister
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In reply to bear2034 • 11:52a, 5/8/24
bear2034 said:
Russiagate, the impeachments, the stolen 2020 election, the weaponization of government to imprison Trump...this is the real insurrection.

…and there is no way for tRump to satisfactorily pursue these baseless allegations under our current judicial system, so tRump will have to suspend the Constitution, eliminate the judicial system and install a totalitarian state to redress his paranoid delusional fantasy grievances…..and his next move will to figure out how to restrict the freedom of a civilian population possessed of 435,000,000 firearms (25,000,000 of them assault rifles).
Cancel my subscription to the Resurrection
Send my credentials to the House of Detention
I got some friends inside
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bear2034
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In reply to bearister • 11:57a, 5/8/24
bearister said:
bear2034 said:
Russiagate, the impeachments, the stolen 2020 election, the weaponization of government to imprison Trump...this is the real insurrection.

…and there is no way for tRump to satisfactorily pursue these baseless allegations under our current judicial system, so tRump will have to suspend the Constitution, eliminate the judicial system and install a totalitarian state to redress his paranoid delusional fantasy grievances…..and his next move will to figure out how to restrict the freedom of a civilian population possessed of 435,000,000 firearms (25,000,000 of them assault rifles).

The Americans have done it before when they overthrew British rule, they can do it again against the Communists.
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movielover
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12:56p, 5/8/24
CNN: NYT: RFK Jr. says worm 'got into my brain and ate a portion of it'

https://www.cnn.com/2024/05/08/politics/rfk-jr-mercury-poisoning-brain-parasite/index.html
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Big C
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In reply to movielover • 1:46p, 5/8/24
movielover said:
CNN: NYT: RFK Jr. says worm 'got into my brain and ate a portion of it'

https://www.cnn.com/2024/05/08/politics/rfk-jr-mercury-poisoning-brain-parasite/index.html

he sound like the worm got into his throat, too
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movielover
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6:32p, 5/8/24
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10:25a, 5/10/24
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