Mainstream Economics Thread

[sonofdaxjones]

We’ve had this discussion before Steve Dave. Just throw more in the deferred stack, piled up like cord word at our treasury.

They’ve also run down Fed holdings by $1 trillion in 4 years.

Your “it doesn’t matter” shtick is tired and no amount of #blueanongE mansplaining is going to change reality.


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[sonofdaxjones]

. . . on top of adding $8 trillion to the national debt in 4 years


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[steve dave]

Well, I’m excited to see what happens with that over the next four years then brother, lmao


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[sonofdaxjones]

Me too, just bought more XOM

Also sad to see that apparently Jerome holds monarch status.

Leader for life 🫤


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[sonofdaxjones]

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[Rage Against the McKee]

If you owe the bank $300, that's your problem. If you owe the bank $30 trillion, that's their problem.

[Justwin]

https://twitter.com/realejantoni/status/1854924652088344685?s=46&t=-jwPwnR3rKHM9sk9hA7h8g


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That absolutely is the worst thing about Fed having a deferred asset in terms of remittances to the Treasury.

[Justwin]

Can you please specifically explain why you think the Fed having a deferred asset for remittances to the Treasury is a problem?

Do you think this is a problem for the Fed and the economy or a problem for the federal government in terms of budgeting?

[I_have_purplewood]

Can you please specifically explain why you think the Fed having a deferred asset for remittances to the Treasury is a problem?

Do you think this is a problem for the Fed and the economy or a problem for the federal government in terms of budgeting?

There are too many tariff guru's on this site to tackle this one.  I never knew so many people knew the consequences of tariffs.

[john "teach me how to" dougie]

Can you please specifically explain why you think the Fed having a deferred asset for remittances to the Treasury is a problem?

Do you think this is a problem for the Fed and the economy or a problem for the federal government in terms of budgeting?

There are too many tariff guru's on this site to tackle this one.  I never knew so many people knew the consequences of tariffs.

Trumps first round of tariiffs on China resulted in COVID, and we all know what that did to the economy. 

[sonofdaxjones]

This is getting to be like Groundhog Day. I am having flashbacks to the discussion about Bill Clinton "balancing the budget" and the cognitive dissonance of some who couldn't understand that intra governmental borrowing . . . was still borrowing.  So (for example) throwing a bunch of IOU's into the Social Security "lock box" was still borrowing money to cover the costs of running the government.

In the near term (which is now being calculated in half decades) the US Treasury cannot count on cash coming from The Fed . . . so who has to cover for that?  You can attempt to normalize "deferred asset" all you want, but that concept still smells of the extra special sauce accounting that our government grants itself.

[Spracne]

Stop trynna normalize your fancy words

[steve dave]

https://x.com/josephpolitano/status/1855650232496714131?s=46


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[OB_Won]

This is getting to be like Groundhog Day. I am having flashbacks to the discussion about Bill Clinton "balancing the budget" and the cognitive dissonance of some who couldn't understand that intra governmental borrowing . . . was still borrowing.  So (for example) throwing a bunch of IOU's into the Social Security "lock box" was still borrowing money to cover the costs of running the government.

In the near term (which is now being calculated in half decades) the US Treasury cannot count on cash coming from The Fed . . . so who has to cover for that?  You can attempt to normalize "deferred asset" all you want, but that concept still smells of the extra special sauce accounting that our government grants itself.

Would it make sense to have everybody, as well as corporations actually pay taxes? Or should we just cut social security, medicare, WIC, etc? Seems to smell of extra special sauce to promise a drastic cutting of the deficit at the same time as lowering taxes, removing financial regulations, and slashing the IRS.


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[sonofdaxjones]

I love this stuff because it only affirms the satanist/central planning mindset of #blueanon

See also post 2012 election Vox article posted elsewhere for further color on the smug component. 

#blueanon: An echo chamber for the ages


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[Spracne]

https://x.com/josephpolitano/status/1855650232496714131?s=46


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Is this a common belief? And also, why?

[Rage Against the McKee]

https://x.com/josephpolitano/status/1855650232496714131?s=46


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Is this a common belief? And also, why?

Most people's problems are through no fault of their own.

[sonofdaxjones]

It’s fascinating to watch the meltdowns when people call for an audit of The Fed

Not ending, not radically changing, not firing the chairman. . . an audit


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[steve dave]

It’s fascinating to watch the meltdowns when people call for an audit of The Fed

Not ending, not radically changing, not firing the chairman. . . an audit


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Nobody even knows what you’re shaking your fist at Dax


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[sonofdaxjones]

I am sorry that insular far suburban Omaha has you so out of touch, Steve #frown

https://www.wsj.com/articles/senate-defeats-audit-the-fed-bill-1452630386


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[steve dave]

Dax, if you think suburban Omaha has me out of touch with fed related stuff I have some shocking news for you about what a limited amount of things I know about (youth sports, macro, fed policy). Wheelhouse!


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[sonofdaxjones]

Always touting those credentials, Steve


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[steve dave]

Always touting those credentials, Steve


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Credentials, lmao. What credentials are those brother? Listening to podcasts and reading FT should be on my LinkedIn page irl.


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[sonofdaxjones]

It's pretty simple . . . the FedOPhiles couldn't even tolerate an audit.

[sonofdaxjones]

https://twitter.com/DowdEdward/status/1856166118508904560