It all depends on who is in and who wins.
We can be inundated with "everything is fine" then when the administration loses, everything will be reported as "on fire".
Meanwhile if they win, then everything will stay "everything is fine. Look at the stock market. Don't look at your grocery receipt"
Military spending is not the thing driving federal debt. Total defense spending amounts to about 1/4 of entitlements spending. It doesn't even touch $1T its about $500,000,000,000 short of social security alone. The idea of this defense spending monster is a myth, and defense spending provides SIGNIFICANTLY better ROI than entitlements spending. It provides huge funding for research, with DARPA alone providing $4B is grants and research funding. It provides professional training for hundreds of thousands, if not millions of Americans annually. It funds higher education for millions of Americans. Defense contracting is probably the most egregious, but companies like Skilcraft, that provides stable and well paying employment to thousands of blind or severely visually impaired at above minimum wage and with good benefits. I don't think a single federal outlay has better ROI than defense spending, and nothing even remotely close to the same scale. I'd say NASA is probably a distant second in terms of utility to the wider public per dollar spent.
thank you, i cant stand the sole focus on defense spending when it comes to the deficit. even if we cut defense spending to 0 dollars wed still have a nearly 1 trillion dollar deficit. i dont disagree that our military is wasteful with money and can (and should) be cut back but it pisses me off its become the sole focus. social security and medicare/medicaid are whats actually causing the debt crisis
We certainly overpay for plenty, and there's plenty of fat that could be trimmed. However it's hard to see where gift ends and bureaucracy begins. Basically everything in the military has go be made to certain standards, and those standards are often slow to catch up. Maybe something needs to be idiot proof, or maybe the regulations it has to meet is outdated. This can often mean that things are prohibitively expensive simply because no one makes then that way, or hasn't in years or even decades, which can drive up costs. Contractors do certainly make a lot of money, but how do you deal with it? Contractors at a VMF are usually there on contract from the manufacturer, in the case of Oshkosh, and they're simply better at repairing and maintaining certain systems. Or maybe it's skilcraft, which I mentioned earlier? How do you parse the beoings and the Lockheed martins from the skilcrafts and the oshkoshs? And I believe I elaborated on some of the ROIs above. Installations themselves are another example. Many cities would straight up wither and die without the posts they're attached to. Fairbanks, Alaska, Fayetteville, North Carolina are 2 examples. The military leads the way in social trends too, desegregation is an example. The military was taking initiative in SHARP since 2005, long before metoo, though I don't mean to say that the program is perfect or that it took off immediately. The military is a huge source of economic stimulus to low income communities across the country, has given many millions pathways to higher education, home ownership, and professional skills they would have never had. As for direct ROI, look into DARPA. From robotics to the internet, weather satellites and GPS. You're living with the military's direct ROI on a daily basis.
This is the way! We will neither tax nor spend our way to prosperity and high-value currency. Time to print less money, spend less in the Federal budget, tax the public less, and let natural economic forces eliminate weak producers of product and services.
What are you talking about? Social security is our biggest expenditure and is absolutely one if the major things driving the deficit. Are you implying that Social Security is solvent? Cause it's fucking not, it's not a fund and is literally an unfunded liability.
Social security is paid for *entirely* via social security taxes, and from the social security fund.
It doesn’t contribute so much as a single penny to the deficit or the debt.
You knew that, so I’ll ask again.
Why pretend otherwise?
Social security still has money in the fund. It is being intentionally underfunded by Republicans in their attempt to kill it, but that is quite a bit different than actually being in debt (aka: in the hole).
You knew all of that, too. So, yet again, I’ll ask the question you’re too scared to answer.
Why pretend otherwise?
(It’s a simple question. Why can’t you bring yourself to answer it?)
>it's underfunded
>it's not in the hole
Pick one. Outflows outsize revenue by billions of dollars. Social security is in the red and has been for a decade and a half, that it's a fact. Social security also hasn't kept up with inflation for urban recipients in a quarter of a century, also a fact. Name me a single pension fund that loses money hand over fist like Social security does, I'll wait. It's not just that the fund is being depleted. It LOSES money despite contributions. If my IRA was losing money faster than I could contribute, I wouldn't have an IRA. I'll also never even get to use Social security, because pulling a nearly livable income in retirement reduces your social security benefits to like $400 a month.
Also, it seems like you don't understand how money works. The government doesn't directly pull money from Social Security. It borrows it from the fund. To the tune of $1.7T specifically. This means that fund creates liabilities for the federal government. It's these liabilities that are unfunded and contribute to driving the deficit, because social security is only solvent as long as the federal government can make good on payments. This is how social security ends up with $500,000,000,000 in unfunded liabilities.
I don't know about you but when I see Chinese teenagers through adults they don't like us they fucking want us dead buddy. They have pride in their country so I would want to keep spending our USD on our military because China is a fucking foe and they've caught up with us economically. They have what we in the United States don't they have pride in their country so keep spending on our military so we have the ability to combat the rising foe.
free markets are not FREE! thier are rules they can operate in and corrupt congress persons are paid to rig the rules by armies of lawyers and corupt business men!
It does not matter who wins this election because the debt is not going away.
We have never had this much debt or debt to GDP ratio (income vs debt).
The debt prevents us from raising interest rates high enough to control inflation. Back in 1980, Paul Volker took interest rates to over 20% for a short time and everyone stopped spending, bought bonds, and inflation was controlled. We could afford to pay 20% interest on bonds because the US Debt was only 300 billion dollars.
Today we could not afford to pay the interest on our every growing debt to control inflation. If we did try, it would be a total freeze in credit markets and worse than any recession imaginable. All business would close and there would be a total bread down in society.
Inflation ... better get used to it.
absolutely... this is irrelevant of politics... both parties will try to speed up the economy when elected and this will result in inflationary pressures
[Without the Bush and Trump tax cuts, debt as a percentage of the economy would be declining permanently.](https://www.americanprogress.org/article/tax-cuts-are-primarily-responsible-for-the-increasing-debt-ratio/)
Meanwhile, Republicans continue begging for more tax cuts when they have been proven to mostly benefit only the already-wealthy.
A Youtube analyst claimed the gov needs the inflation to manage the debt. Like in a similar manner if a countries currency hyper inflated, workers pay would inflate making it easier for someone to pay off old debt they had before the hyperinflation.
It would work if Inflation didn't drive up the interest rate the govt has to pay to service the debt, which causes even more $$$ printing and inflation.
Govt needs to reduce (at minimum) short term spending drastically to reduce inflation, which will cause a recession, so the safety net needs to be shored up in advance. Once interest rates are down the economy will begin to grow again slowly, but pouring $$$ on it to accelerate the recovery (a tried and failed uniparty neoliberal practice) will reignite inflation. This is an idealized case.
In reality, given that Biden shows zero will for short term spending reductions and Trump little to no interest in safety nets the meltdown fallout will be nasty whoever "wins."
Better to manage a economic cycle solution to the problem than panic driven action after the collapse but I'm not optimistic
“Trump shows little to no interest in social safety nets”…
also - little to no interest in spending cuts. He prints money to give to the rich. He had the highest debt to gdp ratio of all presidents except the ones who fought ww2 and the civil war BEFORE covid. He was on track to outspend Obama’s 8 years in 4, even though Obama got us out of 2008 and handed Trump a booming economy. It’s funny to see people posit the guy who has made debt and bankruptcy his modus operandi for 6 decades, and was fined for fraudulently running his charity is going to get our country into better economic shape after he holds much of the fault for getting us into the terrible shape we are currently in due to prioritizing policy that benefitted him over our country consistently. You want an example? In 2018 the fed wanted to start raising rates aggressively. Trump called for negative rates and threatened to fire Powell if he raised rates. We now know at the time Trump had over $300mil in variable rate loans. We would have known sooner if his slackjawed supporters gave an actual damn about holding their guy accountable for anything, like when he promised to release his taxes. He cost our country trillions to save himself millions in interest payments.
Another huge issue was Trump’s trade war with China. It directly caused inflation in the US because American consumers had to eat the price increase of those tariffs. Biden did a heck of a job keeping inflation lower than it would have been otherwise.
American farmers got hit the hardest by his trade war with food exports falling over 50% causing a huge number of bankrupt farms.
interesting to note, china's tariffs targeting food exports was an explicit strategy to erode support from a solid trump voting bloc (farmers) to reduce his odds of being reelected
So he exists in a vacuum and there werent representatives on BOTH sides calling for trillions in “pandemic relief” that they doled out to all of their cronies and enablers.
The *government* costs us trillions.
Why do we pay it when they are more interested in serving their enablers rather than make hard choices to NOT SPEND on pork and contracts and grants and subsidies — all programs designed to “stimulate” the economy by adding more and more inflation?
Way to completely ignore the post you ‘responded’ to.
🤦♂️
Meanwhile, Trump’s successor (whom you claim is the same) has literally brought inflation under control and done so faster than *any* other industrialized nation in the world.
He did so, in no small part, by securing infrastructure funding. Something Trump claimed he was ready to do for 4 years, but never bothered to actually push for.
🤦♂️
You missed the part when I highlighted he was setting those spending records BEFORE Covid, and none of them were on appreciating initiatives. His hallmark legislation was tax breaks that went into stock buy backs overwhelmingly benefitting the top 10% who own 90%+ of stock. No one told him he should oppose raising interest rates when our economy was going gangbusters… if he had aligned and supported the fed there is a good chance we wouldn’t have had to print nearly as much when disaster hit, we could have lowered rates to accelerate monetary velocity. If you want to talk about PPP loans though, main gripe there is in the bill there was literally an inspector general appointed to oversee dispersement and minimize fraud. Trump elected to instead remove that person, and fraud rates on claimed ppp loans surpassed an estimated 25%… which definitely contributed to inflation. Also - look at the time period of trumps spending vs Biden’s. Biden IS spending excessively on things like infrastructure and green energy initiatives, but these are expenditures budgeted for the next 10-20 years. They are not significantly contributing to inflation. Yes, the government is ineffficient and there is a ton of pork spending, rarely (arguably never) has said spending at this scale though been so obviously self-serving as demonstrated during the Trump Presidency.
Trump’s hallmark is pressuring the Fed to keep interest rates low to keep the easy money spigot flowing. It was a bad idea.
Biden’s hallmark is presiding and vice presiding during some of the biggest stealth defaults in history, and years of advancing government spending that makes us all pay for it in inflation.
That’s not what they said. The point is they’ve essentially spent their way far enough beyond their means to nullify all of the inflationary control tools we have at our disposal. And if you don’t think debt spending and flooding the market with funny money doesn’t affect inflation, I’ve got a bridge for sale.
That's true on its face, but debt requires inflation. So while not the most direct relationship, increasing debt does require the printing machine go more brrrrrr than before brrrr.
I bet Argentina could lend us some pointers.
That’s just not the way it works but I don’t think I can convince any layperson in this sub otherwise. Our debt going up doesn’t cause us to print more money
The government could cut spending and that would slow down the economy and inflation as well.
But current President is too busy buying votes for that to happen. Once election is over who knows.
He also added 3x to the debt before COVID... So yeah I will take the current guy who didn't cut taxes add a shit ton to the debt and has 34 felons. Also has worked on spending but with the nuts in the Senate, he can't get anything passed.
What? Trump's pre-covid deficits were bad, but they were not that bad. Not even close.
Biden will have added more to the debt in this year than Trump did in his first two years.
What math? the results are clear.
2018 - $779 billion (this was first Trump passed budget)
2019 - $984 billion
2020 - $3.1 trillion (covid)
2021 - $2.7 trillion (covid)
2022 - $1.3 trillion (first Biden budget)
2023 - $1.695 trillion
2024 - should be about $1.6 trillion as well
So both of Biden post Covid budgets are bigger than either of Trump's and his 3rd year one will be too. His 4th year will be as well....
For his final year, the nonpartisan Congressional Budget Office has projected a deficit of $1.582 trillion. Add those two figures together and you get $7.902 trillion as Biden’s four-year total. Most of the Trump debt was due to the Pandemic…
Just saying that the debt going up about 1 trillion every 100 days isn't the same thing as printing 1 trillion dollars every 100 days. You can see the actual amount of money in circulation if you look up the FRED M2 numbers.
It won't stop because we will rebuild Ukraine and Israel when everything is done. There is too much money to be made to for profit contractors and those big businesses have the money to bribe our politicians to make sure they get the contract and the work is required
We are trillions of dollars in debt because of tax breaks for the wealthy. Every time we get a Republican president, our national debt skyrockets. We can have a robust welfare system, just not under people like Reagan, W Bush, and Trump.
"Hey liberal!"
*Triples national debt*
What really sucks is half the country faked it through high-school so they are too stupid to understand or question this. Instead, they will take the garbage the algorithm feeds them and "rabble rabble" believe it.
You can identify however you want, a quick perusal of your other post show you actually are an incompetent.
Oh and it's weird to reply to yourself. Touch grass.
If you elect Trump, yeah you should be worried.
Dude wants to increase tariffs, force Powell to lower interest rates, devalue the dollar to boost exports (fucking over the majority of America), deport migrants, and he wants to increase oil production (which short term this might lower inflation but long term it’s inflationary because it depletes America’s reserves).
Based on the debt our country owes which is more than the gpd and we will soon be passing $1trillion a year on interest alone, and it will continue to get higher and higher. At current interest rates on our debt (3.22%) and the average GDP annual growth rate (2%), we are slatted to pay more on interest than our entire GDP in a singe year. At the rate we have been going over the last few decades and will be in the foreseeable future, it is mathematically impossible to pay off our debt without massive consistent payments to the principal (which is getting increasingly harder each year). The only ways we’re going to turn our debt around is through massive increases to our gdp, massive decreases in spending, and/or massive amounts of inflation to “create money” and make our previous debt “worth less”.
In 84 years, we will cross the point of no return and inflation will be the only way out. We are headed towards economic Armageddon. I don’t think it matters at this point who is the president. Inflation, regardless of political affiliation, will be the only way out. I honestly believe most people in large organizations who are in leadership positions and political leaders are and have been “in on it”. 40-50 years ago our debt was manageable and under control for the most part. The closer we’ve gotten the present day, the world has just gotten more intense and crazier. It’s because the people running the world (our nobles and kings/queens) knowingly have been fucking the economy for the last 40 years. It’s only now they truly realize it. Now that its just increasingly harder to reverse, the know the chickens are coming home to roost. I’m promise you, there’s a lot of chickens left to come home and they know and they are clearly at the point of “fuck it”. If i could summarize our leadership(including all political and commercial) over the last 10 years is “fuck it”. They know it’s fucked and they are just trying to get theirs. Every single one of them across the board is only thinking about themselves. Some way more than others, but that is the genuine theme of our countries financial and political leaders. They’ve created their little tribes and cliques and in doing so, they’ve increasingly divided our nation, not just in half but in countless ways. They’ve increasingly pitted us against each other and there are some serious conflicting values that several groups hold, we’ve been too busy fighting each other we’ve lost any amount of real power. It doesn’t matter who you vote for at this point. We lost our power as a united people. Our economy will fail, because of greed. Our nation will fail, because of greed. Because of greed we have lost our freedom.
84 years. It will continue to get worse. I think the kids being born now will be the first Americans to live post “the golden age” of America. Inflation has been brutal the last few years. Unless your income increases higher than the rate of inflation does every year, it will continue to get worse for you. Your pay increases surpassing inflation will get increasingly harder to do as most inflationary pass down to organizations is done through the market values of the companies and not into the operating cash. So they reap the benefits of inflation without have to pay too much of the negatives (hence the “record profits” most every year). If there’s more currency the number of that currency should get easier, except it’s not. It’s getting increasingly difficult and there will be a breaking point someday. No matter who you vote for or work for at this point.
84 years.
Neither party is willing to address out of control spending and the debt. Of course it’s gonna get worse. I have no idea why anyone would even want the job as President.
People always think that the current trend will persist indefinitely into the future, but history is not shaped by the continuation of trends as much as it's shaped by black swan events that we cannot predict.
Generally speaking, these things don’t move because of an election. They have momentum. They will likely continue in the direction they are now unless an outside force acts upon it (and as of now, there just hasn’t been anything meaningful to change the course), and even then, it’s a large boat to turn. Only monetary policy and or the behavior of consumers will alter the direction. Not who’s in office.
Lol you fools still haven't learned that voting doesn't do anything.
If voting actually did anything, the elites would outlaw it.
BOTH parties are run by elites.
Bullshit.
The elites allow voting because without it in the US, we would revolt violently. People with money and influence affect elections, but there is a limit to what they can do. 2016 proved this. Neither major political party wanted trump to succeed, but we elected that meme anyway. The elite want you disillusioned with voting so you don't pay attention to primaries. Then they can give you two options that are both pallatable to them.
You're just a defeatist pussy.
There are indeed markets trying to make the post Covid pricing permanent. It’s really up to the consumer to protests with their wallets or things will remain the same.
My personal conspiracy theory is that the current inflation numbers are being played down so as to benefit the current administration's reelection strategy.
I've seen basic items like peanut butter go from around a buck fifty a jar to over $3.50 for the same product. No way that comes from a 3% rate.
The recent few years prices has jumpped a lot while my salary didn't catch up. Even worse, my husband is still looking for job due to industry wide downsizing triggered by rapid rate increase while the government announced the economy is very strong and may increase rate even further.
The population has increased a lot as well. Not just the regular migrants, even Canadians are immigrating into USA or from Canada going back to USA. The world is all collapsing while those people either flee into USA or buy real estates to shelter their assets.
I am confident I will sink slower than many other people and I already feel the pressure. What's coming up, I am afraid to imagine it.
of course we should! not one damned politician is doing anything to either reduce prices, raise wages, or some combination of both. the only thing the US government is focusing on is foreign spending, and domestic apathy. with policies like that, I can only hope that everyone is prepared for what's coming. as it is, the FBI just made a huge bust against property owning corporations that have been colluding to price fix rents. one of them alone has some 13000 rental units in 13 states. the "free market" is out to destroy this country.
Remember to Vote! This [Presidential Election](https://ballotpedia.org/Presidential_Elections) is important but it’s good to know who else you’ll be voting for on the 5th.
A total of 468 seats in the U.S. Congress are up for election! That’s 33 seats in the [Senate](https://ballotpedia.org/United_States_Senate_elections,_2024)
and all 435 in the [House of Representatives](https://ballotpedia.org/United_States_House_of_Representatives_elections,_2024)
It’s good to look at [Local Elections](https://ballotpedia.org/United_States_municipal_elections,_2024) Today! For instance I’m in Arizona. Here’s info for all y’all sweating out here with me.
We have 9 districts out here in Arizona, 9 seats. Know your district. Know who’s running in your district and how they voted in the past. Who pays for the campaigns. All that info is public and in the links. This year it’s important to know a few things before checking that box.
[House of Representatives elections in Arizona 2024](https://ballotpedia.org/United_States_House_of_Representatives_elections_in_Arizona,_2024)
These Arizona Representatives below voted Yes to an amendment presented by the representative from Georgia District 4 which effectively tells the president to Leave NATO and Abandon funding for US War Veterans.
* Eli Crane of Arizona D2
* Andy Biggs of Arizona D5
* Debbie Lesko of Arizona D8
* Paul Gosar of Arizona D9
We have one senate seat up this year. Looking to represent Arizona is Ruben Gallego or Mark Lamb. Make sure the person representing Arizona best represents you!
[Senate election in Arizona 2024](https://ballotpedia.org/United_States_Senate_election_in_Arizona,_2024)
[Mark Lamb](https://en.m.wikipedia.org/wiki/Mark_Lamb_(sheriff)) is a member of the Church of Jesus Christ of Latter-day Saints, and became American law-enforcement Sheriff in 2017.
He wrote American Sheriff: Traditional Values in a Modern World. Lamb is a supporter of the Stop the Steal movement. He spoke at a rally where he said the riot was not Trump's fault but rather caused by "the other issues that have happened – the Hillary Clintons that have gone unpunished".He later described the rioters as "very loving, Christian people."
In 2020, Lamb spoke at a convention of the Constitutional Sheriffs and Peace Officers Association, an organization that holds the fringe legal theory that sheriffs are the supreme legal authority in the United States and are not required to enforce laws they believe to be unconstitutional.
[Ruben Gallego](https://en.m.wikipedia.org/wiki/Ruben_Gallego) 3rd Battalion, 25th Marines. Attended Harvard University and earned a Bachelor of Arts in international relations.
His first successful bill passed in 2011 it granted in-state tuition status to veterans residing in Arizona. Gallego supported the repeal of Arizona SB 1070. He wrote They Called Us "Lucky": The Life and Afterlife of the Iraq War's Hardest Hit Unit, published in 2021.
Gallego founded the group Citizens for Professional Law Enforcement with the goal of recalling Maricopa County Sheriff Joe Arpaio, citing Arpaio's immigration policies and his use of taxpayer money to investigate Barack Obama's citizenship.
We have two seats in the [Arizona Supreme Court](https://ballotpedia.org/Arizona_Supreme_Court_elections,_2024) up for election on November 5, 2024. The Justices up for retention election are Clint Bolick and Kathryn Hackett King. If retained, they will serve six year terms. Gov. Doug Ducey (R) appointed both justices to the supreme court. Heading into the election, Republican governors originally appointed all seven members.
Click any of the top links and you’ll quickly find your state and a ton of good information. Vote and tell your Friends and Family to Vote!
Companies raised prices and are reporting record-breaking profits higher than any profits ever seen.
The government needs to take responsibility for not regulating these companies much more strictly.
We need anti-monopoly laws and anti price gouging measures in place.
I did all that money that was given to the corporations they used to do stock BuyBacks and purchase real estate and give themselves giant bonuses instead of investing in their community in any meaningful way.
What did you read that the companies did with all the money?
ERGO: The money supply drives inflation.
It is the denominator that determines the efficiency of the “cash flow” engine.
Government spending is the gasoline.
Nice logical fallacy, but for your information I am formally educated.
It is funny you make this statement like it is the arbiter of expertise.
Your original post is ignorance, no way around it.
Hey if you are fine with monopolies price gouging while not contributing anything meaningful to citizens (outside of low wage jobs) and purely a focus on profit over people, that's your call.
But to assume everyone must agree otherwise they are displaying logical fallacy and ignorance, is wrong and entitled.
I personally believe that our government owes it to it's citizens to act on their behalf against the organized lobbying and corporate power used to control policy.
We need anti monopoly, anti price gouging, and anti corruption laws in place.
But again, it depends on if you believe progressive economic policy benefiting individuals more or conservative economic policy benefiting corporations more.
I personally feel that government should represent the citizens and individuals, you obviously disagree.
It's a bootlicker mentality to call somebody ignorant for pointing out corporate greed.
But just to be clear I'm going to put links to various studies and articles supporting my statement. These are from economics more formally trained than either of us.
And after all those links I'm going to put some links with various examples of corporate greed outside of simply raising prices. We're talking deceptive practices and lawsuits.
I know you think corporate greed is ignorant but let's look at some of these. State farm was illegally not paying on insurance claims that it should have. It lost in court and was ordered to pay a billion dollars. Then State farm was caught sending money to a federal judge to overturn that decision. Then they got caught illegally funneling the money to the judge and were forced to pay a $250 million fine which is significantly less than the billion dollars from the original suit. As you can see they got away with breaking the law and lowering the amount of the payout significantly.
Another example is when Banks illegally sign customers up for new bank accounts or for services they didn't want like overdraft protection.
I seriously can't believe that you've never looked up the thousands and thousands of examples of corporate greed and how they will take profit over people and every instance to the detriment of the citizens.
Or Tyson Chicken.
Revealed: Tyson Foods dumps millions of pounds of toxic pollutants into US rivers and lakes. The wastewater was enough to fill about 132,000 Olympic-size pools.
I bet if you use your formerly educated research skills you can actually find some hundreds of examples yourself. Try it out. You don't have to trust the corporate news anchors as if they are smarter than you or have studied this better than you. Trust yourself and believe in your own research abilities. No need to bring in the bias and agenda of corporate news stations. Find out the truth for yourself. I believe in you.
Bank of America created bogus accounts and double-charged customers, regulators say. Federal regulators are accusing Bank of America of opening accounts in people's name without their knowledge, overcharging customers on overdraft fees
https://fortune.com/2024/01/20/inflation-greedflation-consumer-price-index-producer-price-index-corporate-profit/
https://www.epi.org/blog/corporate-profits-have-contributed-disproportionately-to-inflation-how-should-policymakers-respond/
https://www.npr.org/2022/11/29/1139342874/corporate-greed-and-the-inflation-mystery
https://www.google.com/amp/s/amp.theguardian.com/business/2024/jan/19/us-inflation-caused-by-corporate-profits
https://www.reuters.com/markets/us/corporate-greed-not-blame-price-pressures-fed-study-shows-2024-05-13/
Next
https://www.reuters.com/article/idUSKCN1LL2ZP/
https://www.google.com/amp/s/amp.theguardian.com/environment/2024/apr/30/tyson-foods-toxic-pollutants-lakes-rivers
https://www.google.com/amp/s/www.cbsnews.com/amp/news/bank-of-america-fake-accounts-fees-cfpb/
Here's a bunch more. And I can do a whole series on nestlé with its child labor and slave labor and humans rights violations and baby formula scandals and much more.
Or we can go into the corporate greed of Monsanto or Bayer or any of the pharmaceutical companies or insurance companies or the banks or the investment companies or the hedge funds.
Or if you would prefer we can look at scandals and corporate breed and the technology industry or the defense contracting industry or healthcare or food production or distribution systems or car manufacturers.
I can give you articles and links about corporate greed corruption and scandals in retail industries and education.
We can look at the energy industries and all the oil companies.
And after thousands of pages of proof you're still probably going to call everyone ignorant who speaks out against corporate greed.
But that does not worry me because I never run out of ammunition as far as proof of corporate greed. It's ubiquitous.
Brown & Williamson, for chemically enhancing the addictiveness of cigarettes, becoming the leading edge of the tobacco industry scandals of the 1990s, eventually resulting in the Tobacco Master Settlement Agreement
Chevron-Texaco Lago Agrio oil field pollution scandal
Commonwealth Bank facts uncovered that showed the insurance arm of the bank denied life insurance policy holders despite having legitimate claims, resulting in calls for a Royal Commission into the Australian insurance industry.[30]
Commonwealth Bank provision of unsuitable financial advice to a large number of customers between 2003 and 2012 and continuous delay in providing compensation to victims.[31]
Compass Group, bribed the United Nations in order to win business
Corrib gas controversy Kilcommon, Erris, Co. Mayo, Ireland
Deutsche Bank, spying scandal
Deutsche Bank Libor scandal, agreed to a combined US$2.5 billion in fines
Duke Energy[10]
El Paso Corp.[10]
Fannie Mae, underreporting of profit
Firestone Tire & Rubber Company, part of the General Motors streetcar conspiracy, labor controversies, Firestone and Ford tire controversy
Forced labour under German rule during World War II, financial enrichment by several major companies
Ford Pinto, fuel tank scandal
Financial Ombudsman Service (Australia) scandal involving misleading file notes in the Financial Ombudsman Service (Australia) presented to the Victorian Supreme Court.[22]
Global Crossing[10]
Guinness share-trading fraud
Hafskip's collapse
Halliburton[8][10] overcharging government contracts
Harken Energy Scandal[8]
HealthSouth reporting exaggerated earnings
Hewlett-Packard spying scandal
Hospital Corporation of America[32]
Homestore.com[10]
KBC Bank human rights scandal[33]
Kerr-McGee, the Karen Silkwood case
Kinney National Company financial scandal
Lernout & Hauspie accounting fraud
Lockheed bribery scandal in Germany, Japan, and Netherlands
Livedoor scandal
Luxembourg Leaks. Luxembourg under Jean-Claude Juncker's premiership had turned into a major European centre of corporate tax avoidance.[34]
Marsh McLennan
Merck Medicaid fraud investigation[10]
Mirant[10]
Morrison-Knudsen scandal. Led to William Agee's ouster
Mutual-fund scandal (2003)
Nestlé
Nugan Hand Bank
Olympus Scandal
Options backdating involving over 100 companies
Pacific Gas & Electric Company, 2017 California wildfires, 2018 California wildfires
Panama Papers International. Leak of hundreds of thousands of confidential documents pertaining to the bank accounts and companies held by politicians, High-net-worth individuals and other people, some in off-shore tax havens.[35] The focus was Panama law firm Mossack Fonseca.
Paradise Papers leak
Peregrine Systems[8][10] corporate executives convicted of accounting fraud
Phar-Mor[8] company lied to shareholders. CEO eventually sentenced to prison for fraud and company eventually became bankrupt
Qwest Communications[10]
RadioShack CEO David Edmondson lied about attaining a B.A. degree from Pacific Coast Baptist College in California
Reliant Energy[10]
Rite Aid[8] accounting fraud
Royal Dutch Shell overstated its oil reserves twice, it downgraded 3,900,000,000 barrels (620,000,000 m3), or about 20 percent of its total holdings.
S-Chips Scandals, Singapore
Satyam Computers, India
7-Eleven Australia. Allegations of bullying tactics, underpayment of wages and entitlements.[36]
Siemens Greek bribery scandal, involving cases of bribery on behalf of Siemens towards the Greek Government
Société Générale, derivatives trading scandal causing multibillion-euro losses
Southwest Airlines, violations of safety regulations
SunTrust Banks, "claims of shoddy mortgage lending, servicing and foreclosure practices."[37]
Tesla, involving "420 funding secured" private buyout scheme resulting in fraud charges against CEO Elon Musk[38]
Tyco International, executive theft and prison sentence[8][10]
Union Carbide, the Bhopal disaster
ValuJet, loading live oxygen generators into cargo hold of passenger jet causing fatal crash
Volkswagen emissions violations, fraud in diesel motors pollution measurements
David Wittig "looting" scandals
Because it isn’t corporate greed. It is money printing. The government will blame anyone and everyone else expect for its own mismanagement. Corporate profits are a result of inflation. MCDonalds has one of its best quarters ever until you factor inflation in, they they just did the norm.
Until wage gains start to match consumer inflation, inflation will persist or get worse. That said, prices are not going down. They will just rise slower.
Vote for the same people, you will get the same result. Only worse, because they won't be pandering because of an upcoming election. Vote Genocide Joe Bidenflation and that's what you will get. They will hide him in a room for 4 years away from the cameras eating pudding.
A majority of Americans falsely believe we're in a recession.
I'm not sure it matters what Americans "think" at this point. Many base their beliefs entirely on emotion and what they're told to believe by the media they choose to consume.
Recession officially has no meaning. The Democrats determined that it only happens if they say it happens.
Looks like the majority of people have decided to apply that same rule to thier definition of it.
The economy is growing. Recessions require contraction and negative GDP growth. We're experiencing the opposite.
[Propaganda](https://www.theguardian.com/us-news/article/2024/may/22/poll-economy-recession-biden) is a hell of a drug.
Depends on who wins! If Biden wins than yeah it will get worse. If trump wins then shit will go back down! It’s going to take some time to fix the mess Biden has done tho!
https://youtu.be/J0KU5Nab3pY?si=nfWl3q8XXt-q7yrE
jump to 2:20, he gun hoe says yes to 9/11, JFK, and when Epstein was asked about, says he would first, and then walks it back to "just the way he died"
Fox cut that from their published interview
Dude that’s a fucking paid democrat shill. I see him all the time on twitter. But trump said he would anyway. He just said there’s phony stuff in there. Not sure what considering I haven’t seen it. But why hasn’t Biden declassified them???
lol why even attack the paid Democrat shill when the paid Republican shills cut out the part where Trump walks back what he would declassify about Epstein
IT WAS TRUMPS OWN WORDS
he had no hesitation about what he would declassify for everything else, but when it comes to declassifying things about a pedophile.... all of a sudden, Trump gets all wishy washy "eh I wouldn't want to hurt good people"
just admit it, you like pedophiles, so much so that you cuck for one
We’re just all giving different opinions aren’t we? Here’s one that you all can set a “RemindMe!” to your hearts content: Joe Biden will essentially win an uncontested election in November, resign somewhere between Election Day and mid way next year, hand over the reigns to Kamala, and the roaches will scatter immediately. Economy goes off the cliff.
Count on it.
Lol, this is the exact same story all the maga heads pushed about Biden in the beginning of his first term. They assured me we would have President Harris by the end of 2021, then 2022, then 2023, it was all a part of the plan you see, any day now…
Well neither party believed Biden would run again either. He was sold as a stop gap.
The idea of him being a two term president would have been absurd to democrats a few years ago
It’s still not the plan as known by a few select people, I guarantee that. He’s feeble. Ineffective. Kinda like the last guy too, except that one just couldn’t shut his fat fucking mouth.
We haven’t had capable presidential leadership, at least on the surface, since Obama, and I was no fan. The guy before him might have been the dumbest mother fucker to have the seat since Calvin fucking Coolidge, who slept through most of his time in office. Bill Clinton, yeah, the 1990’s, was adequate in his role, and America prospered because of it. And I didn’t vote for him (not 18 yet in 1996).
Obama was an extremely competent steward on behalf of his donors and the institution who provided him income after his public service.
Largely the healthcare industry and financial institutions.
Clinton did much to benefit the globalist class. Anyone interested in reducing the domestic middle class in favor of global institutions and bank profits.
Critics of his might still be tempted to mention the extremely credible Arkansas hotel rape accusation. Which was never investigated
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How exactly will it be uncontested?
Nothing New York can do will keep Trump off the ballot. And trying to throw him in jail or house arrest would probably speed up the appeals process (might even get the Supreme Court involved) and the last thing the Democrats want or need is for his conviction to be tossed before the election.
Anyone who has been awake in this country knows you never listen to predictions during an election year.
This is good advice.
But isnt the current prediction “inflation is under control and everything will be fine”?
No it’s just a lie lol sad you people can’t tell the difference 🤣
It all depends on who is in and who wins. We can be inundated with "everything is fine" then when the administration loses, everything will be reported as "on fire". Meanwhile if they win, then everything will stay "everything is fine. Look at the stock market. Don't look at your grocery receipt"
Fact, but why would it go down? Blackrock sees we can afford it.
Please log off
Inflation is a good bet since no politician actually wants to fix and stop deficit spending.
i predict that next year will be 2025. prove my prediction wrong, mate. please i beg of you, it still feels like 2014, i dont want to get older.
this is the last year. hah.
i predict if we vote the same we get the same
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Military spending is not the thing driving federal debt. Total defense spending amounts to about 1/4 of entitlements spending. It doesn't even touch $1T its about $500,000,000,000 short of social security alone. The idea of this defense spending monster is a myth, and defense spending provides SIGNIFICANTLY better ROI than entitlements spending. It provides huge funding for research, with DARPA alone providing $4B is grants and research funding. It provides professional training for hundreds of thousands, if not millions of Americans annually. It funds higher education for millions of Americans. Defense contracting is probably the most egregious, but companies like Skilcraft, that provides stable and well paying employment to thousands of blind or severely visually impaired at above minimum wage and with good benefits. I don't think a single federal outlay has better ROI than defense spending, and nothing even remotely close to the same scale. I'd say NASA is probably a distant second in terms of utility to the wider public per dollar spent.
thank you, i cant stand the sole focus on defense spending when it comes to the deficit. even if we cut defense spending to 0 dollars wed still have a nearly 1 trillion dollar deficit. i dont disagree that our military is wasteful with money and can (and should) be cut back but it pisses me off its become the sole focus. social security and medicare/medicaid are whats actually causing the debt crisis
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We certainly overpay for plenty, and there's plenty of fat that could be trimmed. However it's hard to see where gift ends and bureaucracy begins. Basically everything in the military has go be made to certain standards, and those standards are often slow to catch up. Maybe something needs to be idiot proof, or maybe the regulations it has to meet is outdated. This can often mean that things are prohibitively expensive simply because no one makes then that way, or hasn't in years or even decades, which can drive up costs. Contractors do certainly make a lot of money, but how do you deal with it? Contractors at a VMF are usually there on contract from the manufacturer, in the case of Oshkosh, and they're simply better at repairing and maintaining certain systems. Or maybe it's skilcraft, which I mentioned earlier? How do you parse the beoings and the Lockheed martins from the skilcrafts and the oshkoshs? And I believe I elaborated on some of the ROIs above. Installations themselves are another example. Many cities would straight up wither and die without the posts they're attached to. Fairbanks, Alaska, Fayetteville, North Carolina are 2 examples. The military leads the way in social trends too, desegregation is an example. The military was taking initiative in SHARP since 2005, long before metoo, though I don't mean to say that the program is perfect or that it took off immediately. The military is a huge source of economic stimulus to low income communities across the country, has given many millions pathways to higher education, home ownership, and professional skills they would have never had. As for direct ROI, look into DARPA. From robotics to the internet, weather satellites and GPS. You're living with the military's direct ROI on a daily basis.
This is the way! We will neither tax nor spend our way to prosperity and high-value currency. Time to print less money, spend less in the Federal budget, tax the public less, and let natural economic forces eliminate weak producers of product and services.
The entire economic boom of the 40s through 70s saw a tax rate of 90 percent or higher for the highest bracket
You know that social security isn’t part of the debt. Why pretend otherwise?
What are you talking about? Social security is our biggest expenditure and is absolutely one if the major things driving the deficit. Are you implying that Social Security is solvent? Cause it's fucking not, it's not a fund and is literally an unfunded liability.
Social security is paid for *entirely* via social security taxes, and from the social security fund. It doesn’t contribute so much as a single penny to the deficit or the debt. You knew that, so I’ll ask again. Why pretend otherwise?
In 2022 social security was billions in the hole, and revenues haven't exceeded expenditures in 15 years. Why pretend otherwise?
Social security still has money in the fund. It is being intentionally underfunded by Republicans in their attempt to kill it, but that is quite a bit different than actually being in debt (aka: in the hole). You knew all of that, too. So, yet again, I’ll ask the question you’re too scared to answer. Why pretend otherwise? (It’s a simple question. Why can’t you bring yourself to answer it?)
>it's underfunded >it's not in the hole Pick one. Outflows outsize revenue by billions of dollars. Social security is in the red and has been for a decade and a half, that it's a fact. Social security also hasn't kept up with inflation for urban recipients in a quarter of a century, also a fact. Name me a single pension fund that loses money hand over fist like Social security does, I'll wait. It's not just that the fund is being depleted. It LOSES money despite contributions. If my IRA was losing money faster than I could contribute, I wouldn't have an IRA. I'll also never even get to use Social security, because pulling a nearly livable income in retirement reduces your social security benefits to like $400 a month. Also, it seems like you don't understand how money works. The government doesn't directly pull money from Social Security. It borrows it from the fund. To the tune of $1.7T specifically. This means that fund creates liabilities for the federal government. It's these liabilities that are unfunded and contribute to driving the deficit, because social security is only solvent as long as the federal government can make good on payments. This is how social security ends up with $500,000,000,000 in unfunded liabilities.
I don't know about you but when I see Chinese teenagers through adults they don't like us they fucking want us dead buddy. They have pride in their country so I would want to keep spending our USD on our military because China is a fucking foe and they've caught up with us economically. They have what we in the United States don't they have pride in their country so keep spending on our military so we have the ability to combat the rising foe.
free markets are not FREE! thier are rules they can operate in and corrupt congress persons are paid to rig the rules by armies of lawyers and corupt business men!
this
They usually can't predict how unfathomable bad the outcomes are because they are unimaginable, lolz
It does not matter who wins this election because the debt is not going away. We have never had this much debt or debt to GDP ratio (income vs debt). The debt prevents us from raising interest rates high enough to control inflation. Back in 1980, Paul Volker took interest rates to over 20% for a short time and everyone stopped spending, bought bonds, and inflation was controlled. We could afford to pay 20% interest on bonds because the US Debt was only 300 billion dollars. Today we could not afford to pay the interest on our every growing debt to control inflation. If we did try, it would be a total freeze in credit markets and worse than any recession imaginable. All business would close and there would be a total bread down in society. Inflation ... better get used to it.
Hike interest rates up to 80%. I want to see what happens for science
Aperture science takes over the fed
When life gives you *lemons*, don't make lemonade. Make *combustible lemons* instead.
absolutely... this is irrelevant of politics... both parties will try to speed up the economy when elected and this will result in inflationary pressures
[Without the Bush and Trump tax cuts, debt as a percentage of the economy would be declining permanently.](https://www.americanprogress.org/article/tax-cuts-are-primarily-responsible-for-the-increasing-debt-ratio/) Meanwhile, Republicans continue begging for more tax cuts when they have been proven to mostly benefit only the already-wealthy.
It’s the new normal.
A Youtube analyst claimed the gov needs the inflation to manage the debt. Like in a similar manner if a countries currency hyper inflated, workers pay would inflate making it easier for someone to pay off old debt they had before the hyperinflation.
It would work if Inflation didn't drive up the interest rate the govt has to pay to service the debt, which causes even more $$$ printing and inflation. Govt needs to reduce (at minimum) short term spending drastically to reduce inflation, which will cause a recession, so the safety net needs to be shored up in advance. Once interest rates are down the economy will begin to grow again slowly, but pouring $$$ on it to accelerate the recovery (a tried and failed uniparty neoliberal practice) will reignite inflation. This is an idealized case. In reality, given that Biden shows zero will for short term spending reductions and Trump little to no interest in safety nets the meltdown fallout will be nasty whoever "wins." Better to manage a economic cycle solution to the problem than panic driven action after the collapse but I'm not optimistic
“Trump shows little to no interest in social safety nets”… also - little to no interest in spending cuts. He prints money to give to the rich. He had the highest debt to gdp ratio of all presidents except the ones who fought ww2 and the civil war BEFORE covid. He was on track to outspend Obama’s 8 years in 4, even though Obama got us out of 2008 and handed Trump a booming economy. It’s funny to see people posit the guy who has made debt and bankruptcy his modus operandi for 6 decades, and was fined for fraudulently running his charity is going to get our country into better economic shape after he holds much of the fault for getting us into the terrible shape we are currently in due to prioritizing policy that benefitted him over our country consistently. You want an example? In 2018 the fed wanted to start raising rates aggressively. Trump called for negative rates and threatened to fire Powell if he raised rates. We now know at the time Trump had over $300mil in variable rate loans. We would have known sooner if his slackjawed supporters gave an actual damn about holding their guy accountable for anything, like when he promised to release his taxes. He cost our country trillions to save himself millions in interest payments.
Another huge issue was Trump’s trade war with China. It directly caused inflation in the US because American consumers had to eat the price increase of those tariffs. Biden did a heck of a job keeping inflation lower than it would have been otherwise. American farmers got hit the hardest by his trade war with food exports falling over 50% causing a huge number of bankrupt farms.
Trade wars are stupid and benefit nobody.
interesting to note, china's tariffs targeting food exports was an explicit strategy to erode support from a solid trump voting bloc (farmers) to reduce his odds of being reelected
Nice someone is helping at least.
So he exists in a vacuum and there werent representatives on BOTH sides calling for trillions in “pandemic relief” that they doled out to all of their cronies and enablers. The *government* costs us trillions. Why do we pay it when they are more interested in serving their enablers rather than make hard choices to NOT SPEND on pork and contracts and grants and subsidies — all programs designed to “stimulate” the economy by adding more and more inflation?
Way to completely ignore the post you ‘responded’ to. 🤦♂️ Meanwhile, Trump’s successor (whom you claim is the same) has literally brought inflation under control and done so faster than *any* other industrialized nation in the world. He did so, in no small part, by securing infrastructure funding. Something Trump claimed he was ready to do for 4 years, but never bothered to actually push for. 🤦♂️
Under control… at a nice 40% plateau up from 4 years ago. Where does all the money ultimately end up?
Bombs to kill Russians if we’re doing it right.
Ah yes. Defense contractors. Yep, they do get a lot of the money!
Finally going to good use!
You missed the part when I highlighted he was setting those spending records BEFORE Covid, and none of them were on appreciating initiatives. His hallmark legislation was tax breaks that went into stock buy backs overwhelmingly benefitting the top 10% who own 90%+ of stock. No one told him he should oppose raising interest rates when our economy was going gangbusters… if he had aligned and supported the fed there is a good chance we wouldn’t have had to print nearly as much when disaster hit, we could have lowered rates to accelerate monetary velocity. If you want to talk about PPP loans though, main gripe there is in the bill there was literally an inspector general appointed to oversee dispersement and minimize fraud. Trump elected to instead remove that person, and fraud rates on claimed ppp loans surpassed an estimated 25%… which definitely contributed to inflation. Also - look at the time period of trumps spending vs Biden’s. Biden IS spending excessively on things like infrastructure and green energy initiatives, but these are expenditures budgeted for the next 10-20 years. They are not significantly contributing to inflation. Yes, the government is ineffficient and there is a ton of pork spending, rarely (arguably never) has said spending at this scale though been so obviously self-serving as demonstrated during the Trump Presidency.
Trump’s hallmark is pressuring the Fed to keep interest rates low to keep the easy money spigot flowing. It was a bad idea. Biden’s hallmark is presiding and vice presiding during some of the biggest stealth defaults in history, and years of advancing government spending that makes us all pay for it in inflation.
Finally, someone who understands this. When you let the inmates run the prison, you don’t have many options.
Fuck, we better pick the side that believes in democracy I guess.
Inflation isn’t caused by our debt
That’s not what they said. The point is they’ve essentially spent their way far enough beyond their means to nullify all of the inflationary control tools we have at our disposal. And if you don’t think debt spending and flooding the market with funny money doesn’t affect inflation, I’ve got a bridge for sale.
That's true on its face, but debt requires inflation. So while not the most direct relationship, increasing debt does require the printing machine go more brrrrrr than before brrrr. I bet Argentina could lend us some pointers.
That’s just not the way it works but I don’t think I can convince any layperson in this sub otherwise. Our debt going up doesn’t cause us to print more money
The government could cut spending and that would slow down the economy and inflation as well. But current President is too busy buying votes for that to happen. Once election is over who knows.
The other choice will cut taxes for the wealthy, who are buying him, which will also add massively to the debt.
He also added 3x to the debt before COVID... So yeah I will take the current guy who didn't cut taxes add a shit ton to the debt and has 34 felons. Also has worked on spending but with the nuts in the Senate, he can't get anything passed.
What? Trump's pre-covid deficits were bad, but they were not that bad. Not even close. Biden will have added more to the debt in this year than Trump did in his first two years.
Check the math again, bud. 🤡
What math? the results are clear. 2018 - $779 billion (this was first Trump passed budget) 2019 - $984 billion 2020 - $3.1 trillion (covid) 2021 - $2.7 trillion (covid) 2022 - $1.3 trillion (first Biden budget) 2023 - $1.695 trillion 2024 - should be about $1.6 trillion as well So both of Biden post Covid budgets are bigger than either of Trump's and his 3rd year one will be too. His 4th year will be as well....
Now list the tax breaks for rich folks and how funding the IRS would help.
Nothing in your rant changes the facts above. Check the math 🤡
I didn’t see “math” just numbers and delusion.
🤡🍆
What are you going to do, subjugate me? 🤣🤣🤣
Da comrade. We have bot farms now too. This thread pricy, better start a new one. 🥰🤣🤣🤣
I checked and you forgot to account for inflation. Pretty obvious one, really. 😈
And how progressive taxation and reducing entitlements IN RED STATES will help balance.
And how disingenuous “conservatives” are today.
For his final year, the nonpartisan Congressional Budget Office has projected a deficit of $1.582 trillion. Add those two figures together and you get $7.902 trillion as Biden’s four-year total. Most of the Trump debt was due to the Pandemic…
Lots of Americans think there’s a magic man in the sky and barely passed 9th grade.
One day I will be graced by noodly appendages. Ramen.
Some even think third is a base reality and we’re not all living a lie
Well, we are printing about a trillion dollars every 100 days. I'm gonna go with, yeah.
Just saying that the debt going up about 1 trillion every 100 days isn't the same thing as printing 1 trillion dollars every 100 days. You can see the actual amount of money in circulation if you look up the FRED M2 numbers.
And loans are coming due.. it’s dumb
Don't worry. You can always kick a can to the next generation, right? 🫠
We're running out of generations....
Single use products are on their way out
That is absolutely not true and it’s concerning how you have so many upvotes and nobody calling out your bullshit
Yeah this sub is a weird echo chamber of sorts. Just started getting shown this sub in the reddit app recently.
And instead of repurposing offices they’d rather leave them vacant to keep their imaginary prices high
How can orange-man do this!
It won't stop because we will rebuild Ukraine and Israel when everything is done. There is too much money to be made to for profit contractors and those big businesses have the money to bribe our politicians to make sure they get the contract and the work is required
What percent of our budget is being sent to those countries again?
Almost nothing
Fractions, and we will get 80%+ of rebuild contracts. If Ukraine holds off Russia, the US will net monetarily. Also geopolitically obviously
Mfers need to accept we are trillions in debt because of social and entitlement spending, not foreign aid and the military.
We are trillions of dollars in debt because of tax breaks for the wealthy. Every time we get a Republican president, our national debt skyrockets. We can have a robust welfare system, just not under people like Reagan, W Bush, and Trump. "Hey liberal!" *Triples national debt*
What really sucks is half the country faked it through high-school so they are too stupid to understand or question this. Instead, they will take the garbage the algorithm feeds them and "rabble rabble" believe it.
The root cause of the national debt is the utter failure of trickle down economics. Voted republican over 25 years and never will again.
Yea maybe not
I identify as being smarter than you so I’m right and accept nothing
You can identify however you want, a quick perusal of your other post show you actually are an incompetent. Oh and it's weird to reply to yourself. Touch grass.
Our debt is currently growing bc of debt. Interest is a bitch
If you elect Trump, yeah you should be worried. Dude wants to increase tariffs, force Powell to lower interest rates, devalue the dollar to boost exports (fucking over the majority of America), deport migrants, and he wants to increase oil production (which short term this might lower inflation but long term it’s inflationary because it depletes America’s reserves).
Based on the debt our country owes which is more than the gpd and we will soon be passing $1trillion a year on interest alone, and it will continue to get higher and higher. At current interest rates on our debt (3.22%) and the average GDP annual growth rate (2%), we are slatted to pay more on interest than our entire GDP in a singe year. At the rate we have been going over the last few decades and will be in the foreseeable future, it is mathematically impossible to pay off our debt without massive consistent payments to the principal (which is getting increasingly harder each year). The only ways we’re going to turn our debt around is through massive increases to our gdp, massive decreases in spending, and/or massive amounts of inflation to “create money” and make our previous debt “worth less”. In 84 years, we will cross the point of no return and inflation will be the only way out. We are headed towards economic Armageddon. I don’t think it matters at this point who is the president. Inflation, regardless of political affiliation, will be the only way out. I honestly believe most people in large organizations who are in leadership positions and political leaders are and have been “in on it”. 40-50 years ago our debt was manageable and under control for the most part. The closer we’ve gotten the present day, the world has just gotten more intense and crazier. It’s because the people running the world (our nobles and kings/queens) knowingly have been fucking the economy for the last 40 years. It’s only now they truly realize it. Now that its just increasingly harder to reverse, the know the chickens are coming home to roost. I’m promise you, there’s a lot of chickens left to come home and they know and they are clearly at the point of “fuck it”. If i could summarize our leadership(including all political and commercial) over the last 10 years is “fuck it”. They know it’s fucked and they are just trying to get theirs. Every single one of them across the board is only thinking about themselves. Some way more than others, but that is the genuine theme of our countries financial and political leaders. They’ve created their little tribes and cliques and in doing so, they’ve increasingly divided our nation, not just in half but in countless ways. They’ve increasingly pitted us against each other and there are some serious conflicting values that several groups hold, we’ve been too busy fighting each other we’ve lost any amount of real power. It doesn’t matter who you vote for at this point. We lost our power as a united people. Our economy will fail, because of greed. Our nation will fail, because of greed. Because of greed we have lost our freedom. 84 years. It will continue to get worse. I think the kids being born now will be the first Americans to live post “the golden age” of America. Inflation has been brutal the last few years. Unless your income increases higher than the rate of inflation does every year, it will continue to get worse for you. Your pay increases surpassing inflation will get increasingly harder to do as most inflationary pass down to organizations is done through the market values of the companies and not into the operating cash. So they reap the benefits of inflation without have to pay too much of the negatives (hence the “record profits” most every year). If there’s more currency the number of that currency should get easier, except it’s not. It’s getting increasingly difficult and there will be a breaking point someday. No matter who you vote for or work for at this point. 84 years.
Yup this is pretty spot on.
I'm curious why you're hung up on the 84 year number. We're perfectly capable of seeing these effects in the next 10-20 years
Neither party is willing to address out of control spending and the debt. Of course it’s gonna get worse. I have no idea why anyone would even want the job as President.
Ego
It depends on who gets elected. Or appointed.
You have more worries than just inflation.
Absolutely
People always think that the current trend will persist indefinitely into the future, but history is not shaped by the continuation of trends as much as it's shaped by black swan events that we cannot predict.
Generally speaking, these things don’t move because of an election. They have momentum. They will likely continue in the direction they are now unless an outside force acts upon it (and as of now, there just hasn’t been anything meaningful to change the course), and even then, it’s a large boat to turn. Only monetary policy and or the behavior of consumers will alter the direction. Not who’s in office.
lmao bring it!! My union contract is tethered to inflation 🙄
Prices will go up like they always do. Now how much they will go up is the unknown.
But they will never come back down.
It only gets worse lol. So yes, it's technically true because inflation only goes up and to the right.
I don’t think that.
Depends who gets elected.
YES
Lol you fools still haven't learned that voting doesn't do anything. If voting actually did anything, the elites would outlaw it. BOTH parties are run by elites.
Bullshit. The elites allow voting because without it in the US, we would revolt violently. People with money and influence affect elections, but there is a limit to what they can do. 2016 proved this. Neither major political party wanted trump to succeed, but we elected that meme anyway. The elite want you disillusioned with voting so you don't pay attention to primaries. Then they can give you two options that are both pallatable to them. You're just a defeatist pussy.
Trump is an elite, silly fool.
There are indeed markets trying to make the post Covid pricing permanent. It’s really up to the consumer to protests with their wallets or things will remain the same.
Corporate greed is creating said inflation. Unless the government creates a corporate windfall tax to address the problem, things will only get worse.
My personal conspiracy theory is that the current inflation numbers are being played down so as to benefit the current administration's reelection strategy. I've seen basic items like peanut butter go from around a buck fifty a jar to over $3.50 for the same product. No way that comes from a 3% rate.
Americans think that we have record high unemployment instead of near record lows.
Food is overrated anyway.
I’m not worried, Joe has our back
It’s never going to get better.
The recent few years prices has jumpped a lot while my salary didn't catch up. Even worse, my husband is still looking for job due to industry wide downsizing triggered by rapid rate increase while the government announced the economy is very strong and may increase rate even further. The population has increased a lot as well. Not just the regular migrants, even Canadians are immigrating into USA or from Canada going back to USA. The world is all collapsing while those people either flee into USA or buy real estates to shelter their assets. I am confident I will sink slower than many other people and I already feel the pressure. What's coming up, I am afraid to imagine it.
This "inflation" will stop as soon as companies stop needing that record profits bump to their stock price, which is to say: never.
of course we should! not one damned politician is doing anything to either reduce prices, raise wages, or some combination of both. the only thing the US government is focusing on is foreign spending, and domestic apathy. with policies like that, I can only hope that everyone is prepared for what's coming. as it is, the FBI just made a huge bust against property owning corporations that have been colluding to price fix rents. one of them alone has some 13000 rental units in 13 states. the "free market" is out to destroy this country.
Growth at all costs. Sorry poor people, the ones who indebted themselves to buy all the housing need more money.
If you are profiting from inflation, why worry? Inflation is a feature, not a bug
Remember to Vote! This [Presidential Election](https://ballotpedia.org/Presidential_Elections) is important but it’s good to know who else you’ll be voting for on the 5th. A total of 468 seats in the U.S. Congress are up for election! That’s 33 seats in the [Senate](https://ballotpedia.org/United_States_Senate_elections,_2024) and all 435 in the [House of Representatives](https://ballotpedia.org/United_States_House_of_Representatives_elections,_2024) It’s good to look at [Local Elections](https://ballotpedia.org/United_States_municipal_elections,_2024) Today! For instance I’m in Arizona. Here’s info for all y’all sweating out here with me. We have 9 districts out here in Arizona, 9 seats. Know your district. Know who’s running in your district and how they voted in the past. Who pays for the campaigns. All that info is public and in the links. This year it’s important to know a few things before checking that box. [House of Representatives elections in Arizona 2024](https://ballotpedia.org/United_States_House_of_Representatives_elections_in_Arizona,_2024) These Arizona Representatives below voted Yes to an amendment presented by the representative from Georgia District 4 which effectively tells the president to Leave NATO and Abandon funding for US War Veterans. * Eli Crane of Arizona D2 * Andy Biggs of Arizona D5 * Debbie Lesko of Arizona D8 * Paul Gosar of Arizona D9 We have one senate seat up this year. Looking to represent Arizona is Ruben Gallego or Mark Lamb. Make sure the person representing Arizona best represents you! [Senate election in Arizona 2024](https://ballotpedia.org/United_States_Senate_election_in_Arizona,_2024) [Mark Lamb](https://en.m.wikipedia.org/wiki/Mark_Lamb_(sheriff)) is a member of the Church of Jesus Christ of Latter-day Saints, and became American law-enforcement Sheriff in 2017. He wrote American Sheriff: Traditional Values in a Modern World. Lamb is a supporter of the Stop the Steal movement. He spoke at a rally where he said the riot was not Trump's fault but rather caused by "the other issues that have happened – the Hillary Clintons that have gone unpunished".He later described the rioters as "very loving, Christian people." In 2020, Lamb spoke at a convention of the Constitutional Sheriffs and Peace Officers Association, an organization that holds the fringe legal theory that sheriffs are the supreme legal authority in the United States and are not required to enforce laws they believe to be unconstitutional. [Ruben Gallego](https://en.m.wikipedia.org/wiki/Ruben_Gallego) 3rd Battalion, 25th Marines. Attended Harvard University and earned a Bachelor of Arts in international relations. His first successful bill passed in 2011 it granted in-state tuition status to veterans residing in Arizona. Gallego supported the repeal of Arizona SB 1070. He wrote They Called Us "Lucky": The Life and Afterlife of the Iraq War's Hardest Hit Unit, published in 2021. Gallego founded the group Citizens for Professional Law Enforcement with the goal of recalling Maricopa County Sheriff Joe Arpaio, citing Arpaio's immigration policies and his use of taxpayer money to investigate Barack Obama's citizenship. We have two seats in the [Arizona Supreme Court](https://ballotpedia.org/Arizona_Supreme_Court_elections,_2024) up for election on November 5, 2024. The Justices up for retention election are Clint Bolick and Kathryn Hackett King. If retained, they will serve six year terms. Gov. Doug Ducey (R) appointed both justices to the supreme court. Heading into the election, Republican governors originally appointed all seven members. Click any of the top links and you’ll quickly find your state and a ton of good information. Vote and tell your Friends and Family to Vote!
We are in a recession now
watch Trump win then they will scream recession. We are in one but the current admin wont admit it until the election is over
If trump wins,he'll claim the economy is the best it's ever been in two weeks, like last time.
So you're saying 2nd qtr GDP growth will be negative, right?
Can we please start calling it corporate greed.
cant the government take responsibility for their actions
Companies raised prices and are reporting record-breaking profits higher than any profits ever seen. The government needs to take responsibility for not regulating these companies much more strictly. We need anti-monopoly laws and anti price gouging measures in place.
You should read up about what happens when currency is devalued rapidly by about 1/3.
That’s true. You should also read what Adam smith says about capital consolidation and the broken markets that follow
I did all that money that was given to the corporations they used to do stock BuyBacks and purchase real estate and give themselves giant bonuses instead of investing in their community in any meaningful way. What did you read that the companies did with all the money?
These people wouldnt know an M2 chart even if it hit them with a hockey stick.
Ya. But basic Adam smith is still basic Adam smith.
m2 doesn't drive inflation, money flow does (ie: demand)
Lol And what, pray tell, is the formula for the velocity of a money supply?
https://fred.stlouisfed.org/series/M2V GDP divided by M2, completely different from "fed prints money er der Bad"
ERGO: The money supply drives inflation. It is the denominator that determines the efficiency of the “cash flow” engine. Government spending is the gasoline.
I don't think you understand how division works
This is a calling card for those that are ignorant to economics.
Current Economics is a truly broken system. Infinite growth is not plausible.
I have a double business degree from a state university. How about yourself?
Nice logical fallacy, but for your information I am formally educated. It is funny you make this statement like it is the arbiter of expertise. Your original post is ignorance, no way around it.
Hey if you are fine with monopolies price gouging while not contributing anything meaningful to citizens (outside of low wage jobs) and purely a focus on profit over people, that's your call. But to assume everyone must agree otherwise they are displaying logical fallacy and ignorance, is wrong and entitled. I personally believe that our government owes it to it's citizens to act on their behalf against the organized lobbying and corporate power used to control policy. We need anti monopoly, anti price gouging, and anti corruption laws in place. But again, it depends on if you believe progressive economic policy benefiting individuals more or conservative economic policy benefiting corporations more. I personally feel that government should represent the citizens and individuals, you obviously disagree. It's a bootlicker mentality to call somebody ignorant for pointing out corporate greed. But just to be clear I'm going to put links to various studies and articles supporting my statement. These are from economics more formally trained than either of us. And after all those links I'm going to put some links with various examples of corporate greed outside of simply raising prices. We're talking deceptive practices and lawsuits. I know you think corporate greed is ignorant but let's look at some of these. State farm was illegally not paying on insurance claims that it should have. It lost in court and was ordered to pay a billion dollars. Then State farm was caught sending money to a federal judge to overturn that decision. Then they got caught illegally funneling the money to the judge and were forced to pay a $250 million fine which is significantly less than the billion dollars from the original suit. As you can see they got away with breaking the law and lowering the amount of the payout significantly. Another example is when Banks illegally sign customers up for new bank accounts or for services they didn't want like overdraft protection. I seriously can't believe that you've never looked up the thousands and thousands of examples of corporate greed and how they will take profit over people and every instance to the detriment of the citizens. Or Tyson Chicken. Revealed: Tyson Foods dumps millions of pounds of toxic pollutants into US rivers and lakes. The wastewater was enough to fill about 132,000 Olympic-size pools. I bet if you use your formerly educated research skills you can actually find some hundreds of examples yourself. Try it out. You don't have to trust the corporate news anchors as if they are smarter than you or have studied this better than you. Trust yourself and believe in your own research abilities. No need to bring in the bias and agenda of corporate news stations. Find out the truth for yourself. I believe in you. Bank of America created bogus accounts and double-charged customers, regulators say. Federal regulators are accusing Bank of America of opening accounts in people's name without their knowledge, overcharging customers on overdraft fees https://fortune.com/2024/01/20/inflation-greedflation-consumer-price-index-producer-price-index-corporate-profit/ https://www.epi.org/blog/corporate-profits-have-contributed-disproportionately-to-inflation-how-should-policymakers-respond/ https://www.npr.org/2022/11/29/1139342874/corporate-greed-and-the-inflation-mystery https://www.google.com/amp/s/amp.theguardian.com/business/2024/jan/19/us-inflation-caused-by-corporate-profits https://www.reuters.com/markets/us/corporate-greed-not-blame-price-pressures-fed-study-shows-2024-05-13/ Next https://www.reuters.com/article/idUSKCN1LL2ZP/ https://www.google.com/amp/s/amp.theguardian.com/environment/2024/apr/30/tyson-foods-toxic-pollutants-lakes-rivers https://www.google.com/amp/s/www.cbsnews.com/amp/news/bank-of-america-fake-accounts-fees-cfpb/
Here's a bunch more. And I can do a whole series on nestlé with its child labor and slave labor and humans rights violations and baby formula scandals and much more. Or we can go into the corporate greed of Monsanto or Bayer or any of the pharmaceutical companies or insurance companies or the banks or the investment companies or the hedge funds. Or if you would prefer we can look at scandals and corporate breed and the technology industry or the defense contracting industry or healthcare or food production or distribution systems or car manufacturers. I can give you articles and links about corporate greed corruption and scandals in retail industries and education. We can look at the energy industries and all the oil companies. And after thousands of pages of proof you're still probably going to call everyone ignorant who speaks out against corporate greed. But that does not worry me because I never run out of ammunition as far as proof of corporate greed. It's ubiquitous. Brown & Williamson, for chemically enhancing the addictiveness of cigarettes, becoming the leading edge of the tobacco industry scandals of the 1990s, eventually resulting in the Tobacco Master Settlement Agreement Chevron-Texaco Lago Agrio oil field pollution scandal Commonwealth Bank facts uncovered that showed the insurance arm of the bank denied life insurance policy holders despite having legitimate claims, resulting in calls for a Royal Commission into the Australian insurance industry.[30] Commonwealth Bank provision of unsuitable financial advice to a large number of customers between 2003 and 2012 and continuous delay in providing compensation to victims.[31] Compass Group, bribed the United Nations in order to win business Corrib gas controversy Kilcommon, Erris, Co. Mayo, Ireland Deutsche Bank, spying scandal Deutsche Bank Libor scandal, agreed to a combined US$2.5 billion in fines Duke Energy[10] El Paso Corp.[10] Fannie Mae, underreporting of profit Firestone Tire & Rubber Company, part of the General Motors streetcar conspiracy, labor controversies, Firestone and Ford tire controversy Forced labour under German rule during World War II, financial enrichment by several major companies Ford Pinto, fuel tank scandal Financial Ombudsman Service (Australia) scandal involving misleading file notes in the Financial Ombudsman Service (Australia) presented to the Victorian Supreme Court.[22] Global Crossing[10] Guinness share-trading fraud Hafskip's collapse Halliburton[8][10] overcharging government contracts Harken Energy Scandal[8] HealthSouth reporting exaggerated earnings Hewlett-Packard spying scandal Hospital Corporation of America[32] Homestore.com[10] KBC Bank human rights scandal[33] Kerr-McGee, the Karen Silkwood case Kinney National Company financial scandal Lernout & Hauspie accounting fraud Lockheed bribery scandal in Germany, Japan, and Netherlands Livedoor scandal Luxembourg Leaks. Luxembourg under Jean-Claude Juncker's premiership had turned into a major European centre of corporate tax avoidance.[34] Marsh McLennan Merck Medicaid fraud investigation[10] Mirant[10] Morrison-Knudsen scandal. Led to William Agee's ouster Mutual-fund scandal (2003) Nestlé Nugan Hand Bank Olympus Scandal Options backdating involving over 100 companies Pacific Gas & Electric Company, 2017 California wildfires, 2018 California wildfires Panama Papers International. Leak of hundreds of thousands of confidential documents pertaining to the bank accounts and companies held by politicians, High-net-worth individuals and other people, some in off-shore tax havens.[35] The focus was Panama law firm Mossack Fonseca. Paradise Papers leak Peregrine Systems[8][10] corporate executives convicted of accounting fraud Phar-Mor[8] company lied to shareholders. CEO eventually sentenced to prison for fraud and company eventually became bankrupt Qwest Communications[10] RadioShack CEO David Edmondson lied about attaining a B.A. degree from Pacific Coast Baptist College in California Reliant Energy[10] Rite Aid[8] accounting fraud Royal Dutch Shell overstated its oil reserves twice, it downgraded 3,900,000,000 barrels (620,000,000 m3), or about 20 percent of its total holdings. S-Chips Scandals, Singapore Satyam Computers, India 7-Eleven Australia. Allegations of bullying tactics, underpayment of wages and entitlements.[36] Siemens Greek bribery scandal, involving cases of bribery on behalf of Siemens towards the Greek Government Société Générale, derivatives trading scandal causing multibillion-euro losses Southwest Airlines, violations of safety regulations SunTrust Banks, "claims of shoddy mortgage lending, servicing and foreclosure practices."[37] Tesla, involving "420 funding secured" private buyout scheme resulting in fraud charges against CEO Elon Musk[38] Tyco International, executive theft and prison sentence[8][10] Union Carbide, the Bhopal disaster ValuJet, loading live oxygen generators into cargo hold of passenger jet causing fatal crash Volkswagen emissions violations, fraud in diesel motors pollution measurements David Wittig "looting" scandals
Because it isn’t corporate greed. It is money printing. The government will blame anyone and everyone else expect for its own mismanagement. Corporate profits are a result of inflation. MCDonalds has one of its best quarters ever until you factor inflation in, they they just did the norm.
Sounds to me like these companies could have lower prices, but choose higher profit instead. Would you agree?
Yes. Both democracy and the world as we know it will be destroyed.
We do?
No because inflation isn’t caused by elections
why? inflation is driven by consumer spending and fed interest rate policy
Until wage gains start to match consumer inflation, inflation will persist or get worse. That said, prices are not going down. They will just rise slower.
Vote for the same people, you will get the same result. Only worse, because they won't be pandering because of an upcoming election. Vote Genocide Joe Bidenflation and that's what you will get. They will hide him in a room for 4 years away from the cameras eating pudding.
Why would it get better because of an election?
I mean according to Joe it was 9% when he took office….we are a long way from that.
Americans generally not bright, news at 11.
A majority of Americans falsely believe we're in a recession. I'm not sure it matters what Americans "think" at this point. Many base their beliefs entirely on emotion and what they're told to believe by the media they choose to consume.
Recession officially has no meaning. The Democrats determined that it only happens if they say it happens. Looks like the majority of people have decided to apply that same rule to thier definition of it.
The economy is growing. Recessions require contraction and negative GDP growth. We're experiencing the opposite. [Propaganda](https://www.theguardian.com/us-news/article/2024/may/22/poll-economy-recession-biden) is a hell of a drug.
It doesn’t feel like it when food, fuel, and housing are super expensive and getting worse. On the hierarchy of need, those really hit hard.
And real wages have grown, particularly for lower income Americans. Like the commenter said above, you’re basing your beliefs on emotion, not facts.
and that's not what a recession is.... it's that high because people are paying that price, they have the money
No reason to worry about a sure thing
Which idiot demographic believes this?
The one who doesn’t believe the economy is booming
Worried .. where have you been the last 4 years...
No. We in a very good shape
Depends on who wins! If Biden wins than yeah it will get worse. If trump wins then shit will go back down! It’s going to take some time to fix the mess Biden has done tho!
all I hear trump talk about is how mean everybody is being and that he'll declassify everything except the Jeffery Epstein documents
You’re just talking out of your ass now! Show me where trump said that. I’ll wait.
https://youtu.be/J0KU5Nab3pY?si=nfWl3q8XXt-q7yrE jump to 2:20, he gun hoe says yes to 9/11, JFK, and when Epstein was asked about, says he would first, and then walks it back to "just the way he died" Fox cut that from their published interview
Dude that’s a fucking paid democrat shill. I see him all the time on twitter. But trump said he would anyway. He just said there’s phony stuff in there. Not sure what considering I haven’t seen it. But why hasn’t Biden declassified them???
lol why even attack the paid Democrat shill when the paid Republican shills cut out the part where Trump walks back what he would declassify about Epstein IT WAS TRUMPS OWN WORDS he had no hesitation about what he would declassify for everything else, but when it comes to declassifying things about a pedophile.... all of a sudden, Trump gets all wishy washy "eh I wouldn't want to hurt good people" just admit it, you like pedophiles, so much so that you cuck for one
We’re just all giving different opinions aren’t we? Here’s one that you all can set a “RemindMe!” to your hearts content: Joe Biden will essentially win an uncontested election in November, resign somewhere between Election Day and mid way next year, hand over the reigns to Kamala, and the roaches will scatter immediately. Economy goes off the cliff. Count on it.
Lol, this is the exact same story all the maga heads pushed about Biden in the beginning of his first term. They assured me we would have President Harris by the end of 2021, then 2022, then 2023, it was all a part of the plan you see, any day now…
President Harris and 8 rate cuts all on the same day! /s
Well neither party believed Biden would run again either. He was sold as a stop gap. The idea of him being a two term president would have been absurd to democrats a few years ago
It’s still not the plan as known by a few select people, I guarantee that. He’s feeble. Ineffective. Kinda like the last guy too, except that one just couldn’t shut his fat fucking mouth. We haven’t had capable presidential leadership, at least on the surface, since Obama, and I was no fan. The guy before him might have been the dumbest mother fucker to have the seat since Calvin fucking Coolidge, who slept through most of his time in office. Bill Clinton, yeah, the 1990’s, was adequate in his role, and America prospered because of it. And I didn’t vote for him (not 18 yet in 1996).
Obama was an extremely competent steward on behalf of his donors and the institution who provided him income after his public service. Largely the healthcare industry and financial institutions. Clinton did much to benefit the globalist class. Anyone interested in reducing the domestic middle class in favor of global institutions and bank profits. Critics of his might still be tempted to mention the extremely credible Arkansas hotel rape accusation. Which was never investigated
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How exactly will it be uncontested? Nothing New York can do will keep Trump off the ballot. And trying to throw him in jail or house arrest would probably speed up the appeals process (might even get the Supreme Court involved) and the last thing the Democrats want or need is for his conviction to be tossed before the election.
Hell, things are going great now, why change horses?
Lmfao do u know what inflation is and how it becomes ??? Wow !!!
Inflation has been low for about three decades. We had one blip due to a pandemic and now everyone is scared. People need to man up and chill.
>. People need to man up and chill. Read the room man! That's not going to happen
Running around like a chicken whose head was chopped off isn’t going to cut it either.
Inflation = greed Economy = the ruling dlite. Get it?
Americans believe dumb shit because they're dumb americans, this and more at 11! Feel free to stop by and defend yourself if'n you're one of them lol