Mainstream Economics Thread

[sonofdaxjones]

And a fascist.

A tsunami of tapouts

From someone who supports a movement that demands global censorship, misapplies the application of law against self perceived political enemies, wanted people arrested and their kids taken away if they didn't get the vax,  had thought leaders openly talking about re-education camps  . . . etc etc etc

You may want to grab a newspaper if this is a redline for you

Newspapers are government censorship?


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[star seed 7]

Oh dax, you stupid idiot lmao lol

[sonofdaxjones]

Take it the courts, then. When Biden got challenged in the courts for his political targeting. He lost

#blueanon was Big Mad

Just because #blueanon is Big Mad - doesn’t make it illegal.

Most of the #blueanon wins of late will be overturned. Can you guys win anything without judge shopping? My gawd LMAO


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['taterblast]

all time record federal debt

not a defense of anyone, but isn't this kind of a funny point to make when federal debt has increased every year since the beginning of time

There were years under Clinton where it went down.

link?

[sonofdaxjones]

Back in the day we had a long discussion about it.

Some pushed the notion that there was no deficits, but there was still a substantial amount of intergovernmental borrowing - thus the lockbox(es) filled with IOU’s

That said, our deficits were much smaller. Helped to have a Republican controlled Congress. 


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['taterblast]

all time record federal debt

not a defense of anyone, but isn't this kind of a funny point to make when federal debt has increased every year since the beginning of time

A record pace

by $ yes.
by % no

[sonofdaxjones]

I'll let the people who have to figure out how to pay for the interest on the debt (that of course the $) know that the % pace of borrowing was not a record. I am sure they'll be relieved to hear that.

[Justwin]

all time record federal debt

not a defense of anyone, but isn't this kind of a funny point to make when federal debt has increased every year since the beginning of time

There were years under Clinton where it went down.

link?

https://fred.stlouisfed.org/series/FYGFDPUN#

[wetwillie]

That graph is almost unfathomable

[Justwin]

This one is Debt Held by the Public as a Percent of GDP. It's a better indicator of debt load and gives a slightly better picture than the Debt Held by the Public graph above. It still is incredible what has happened to the federal debt since the beginning of 2008.

https://fred.stlouisfed.org/series/FYGFGDQ188S

[Justwin]

Anyone know which presidents the debt increased the most under?

In terms of Debt to GDP ratio, Barack Obama and Joe Biden.

Actually, I don't know what I was thinking. The answers are Barack Obama and Donald Trump. I was off by one year due to the election being in 2020, but Biden not taking office until 2021. George W. Bush would probably be third on this list.

The drivers of the increase in Debt to GDP ratio were the fiscal policy responses to the financial crisis of 2008 and COVID.

This is just looking at the time period since 1970. If you want to go back further, the Civil War, WW I, the Great Depression and WW II were also big drivers of an increase in the Debt to GDP ratio.

[IPA4Me]

Anyone know which presidents the debt increased the most under?

In terms of Debt to GDP ratio, Barack Obama and Joe Biden.

Actually, I don't know what I was thinking. The answers are Barack Obama and Donald Trump. I was off by one year due to the election being in 2020, but Biden not taking office until 2021. George W. Bush would probably be third on this list.

The drivers of the increase in Debt to GDP ratio were the fiscal policy responses to the financial crisis of 2008 and COVID.

This is just looking at the time period since 1970. If you want to go back further, the Civil War, WW I, the Great Depression and WW II were also big drivers of an increase in the Debt to GDP ratio.

Do you think the policy makers have the intestinal fortitude to let things unwind a bit more to get at least to 80%? We barely bounced at 90% two years ago.

[Justwin]

Anyone know which presidents the debt increased the most under?

In terms of Debt to GDP ratio, Barack Obama and Joe Biden.

Actually, I don't know what I was thinking. The answers are Barack Obama and Donald Trump. I was off by one year due to the election being in 2020, but Biden not taking office until 2021. George W. Bush would probably be third on this list.

The drivers of the increase in Debt to GDP ratio were the fiscal policy responses to the financial crisis of 2008 and COVID.

This is just looking at the time period since 1970. If you want to go back further, the Civil War, WW I, the Great Depression and WW II were also big drivers of an increase in the Debt to GDP ratio.

Do you think the policy makers have the intestinal fortitude to let things unwind a bit more to get at least to 80%? We barely bounced at 90% two years ago.

No. I think a 200% Debt to GDP ratio is more likely than an 80% Debt to GDP ratio.

[LickNeckey]

Anyone know which presidents the debt increased the most under?

In terms of Debt to GDP ratio, Barack Obama and Joe Biden.

Actually, I don't know what I was thinking. The answers are Barack Obama and Donald Trump. I was off by one year due to the election being in 2020, but Biden not taking office until 2021. George W. Bush would probably be third on this list.

The drivers of the increase in Debt to GDP ratio were the fiscal policy responses to the financial crisis of 2008 and COVID.

This is just looking at the time period since 1970. If you want to go back further, the Civil War, WW I, the Great Depression and WW II were also big drivers of an increase in the Debt to GDP ratio.

Incur significant debt to stabilize banks and the economic climate for businesses.

Strip entitlements from the most vulnerable in society.

Profit

[LickNeckey]

https://www.reddit.com/r/WallStreetbetsELITE/s/MgfUFZ5oqE

[sonofdaxjones]

The best part of the current #blueanon/#blueanongE rage out

Is that they are either completely unresponsive to any "what changed" question when it comes to #blueanon politicians and/or they defended to the hilt the french frying of our economic numbers during the previous administration.

Now they're going to micro-manage the eff out of Don Trump and cling to his every word both past and present 

Of course, the proclamation that the stock market is "not the real economy" by #blueanon political leaders during Trump 1.0 will be omnipresent in this discussion

Edit: Please also note that we are most certinaly going to revert from "we'll know a recession when we see it" . . . to the official definition of a recession, cus them the rules . . . until we decide thems not the rules, again.

[LickNeckey]

I am fairly certain we will all know the recession when we see it

[sonofdaxjones]

We were in recession during Pedo Pete’s term. #blueanon didn’t see it

Shrooms Yellen four years of transitory inflation has entered the chat


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[Justwin]

We were in recession during Pedo Pete’s term. #blueanon didn’t see it

Shrooms Yellen four years of transitory inflation has entered the chat


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When were we in a recession during Biden's term?

[mocat]

We were in recession during Pedo Pete’s term. #blueanon didn’t see it

Shrooms Yellen four years of transitory inflation has entered the chat


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When were we in a recession during Biden's term?

first three quarters of 2022 there was a pretty sizeable "correction" but I don't know if i've seen anyone argue that we were in a recession.

[sonofdaxjones]

It was discussed on this blog when it was occurring . . . that was the nexus of the whole "we'll know a recession when we see it".

Of course we also know that GDP "growth" of any kind was almost exclusively bolstered by Federal spending and a labor market buoyed exclusively on the back of government hiring and highly subsidized hiring.

Edit: Some may recall a presser where Joe went out and read of a note card and told us that Powell et. al. says we're not in a recession and talked about a whole bunch of numbers that didn't have anything to do with GDP . . . and then Shrooms Yellen followed on over the next days or so with a bunch of jibber-jabber about how certain things were strong and GDP numbers be damned . . . we're not in a recession (and this is just transitory inflation BTW) blah blah blah

[Trim]

It was discussed on this blog when it was occurring

Not specific to this topic/thread, but I love when dax does this.  There is almost no topic, political or otherwise, that has not been "discussed" on this blog, even if that discussion is just one person posting something about something and being ignored.

[Justwin]

It was discussed on this blog when it was occurring . . . that was the nexus of the whole "we'll know a recession when we see it".

Of course we also know that GDP "growth" of any kind was almost exclusively bolstered by Federal spending and a labor market buoyed exclusively on the back of government hiring and highly subsidized hiring.

Edit: Some may recall a presser where Joe went out and read of a note card and told us that Powell et. al. says we're not in a recession and talked about a whole bunch of numbers that didn't have anything to do with GDP . . . and then Shrooms Yellen followed on over the next days or so with a bunch of jibber-jabber about how certain things were strong and GDP numbers be damned . . . we're not in a recession (and this is just transitory inflation BTW) blah blah blah

When was it discussed on this blog when it was occurring? What are the dates you believe the US was in a recession during the Biden administration?

[wetwillie]

1st and 2nd quarter of 2022 were both negative growth quarters consecutively I believe

[steve dave]

According to Elon Musk

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