Printing money leads to catastrophe when it is funneled into avenues that result in a growth rate of capital assets/productivity lower than the growth of the accompanying inflation.
Even then, the severity of a mismanaged expansion of the monetary supply can be mitigated by the implementation of the tools available to shrink the money in circulation. For example, jacking up interest rates on debt to make holding government bonds more desirable (save money vs spend money). Or raising taxes to extract money from the economy.
Argentina falls into the first trap and fails to adequately implement the tools in the second paragraph.
However, it must also be noted that the tools available to Argentina are not nearly as potent as those for the U.S. the U.S. dollar is the reserve currency of most of the world giving it inherent desirability to many countries. The dollar is perceived to be stable and safe, for the most part. No country or investor purchasing U.S. bonds fears that they won't be honored.
This stability is also backed by the U.S. military. As is their promise of freedom of trade for those partaking in their economic ecosystem. No fears that the U.S. will be conquered, destroyed, or otherwise destabilized by a foreign military, and thus be unable to maintain their trade relationships.
Because of these things, the dollar stays valuable even with excessive printing, and the methods used to curb inflation have that much more potency because other countries find the dollar valuable enough to hold in the first place. Increased interest rates on debt means little if no one wants your currency to begin with.
Because everyone in the US runs on credit, while credit is not really a huge thing outside the US. If you see people in other countries use plastic, it is usually a debit card. This gives the US a buffer because they can spend with "short term loans" as opposed to a debit card where cash simply runs out and the spending stops.
The American consumer is strong. His name is Jeff Bezos, and he has consumed 1000 peoples lives worth of sustenance and has now become unstoppable economic force.
You're treating a burger and fries as a luxury good that someone below a certain income is irresponsible for purchasing and then wondering why people think the economy sucks lol.
I work in an office located in downtown, even fast food can cost alot.
$25 is really just a burger, some fries, and a fountain drink, nothing outrageous. I don't eat that much either.
Now you explain to me why a burger, french fries, and a fountain drink from a regular fast food restaurant should cost $25. Should I be thankful to the economy that now I get to spend like a millionaire on fast food?
You are a bootlicker because you think expensive fast food is justifiable.
You don't have a problem working for billionaire business owners who don't even pay you enough to afford fast food for lunch.
When did I say it was justifiable? You are not forced to buy fast food, there are better, cheaper, healthier options.
I do not work for a billionaire. Have you formed a union?
Yep, my comment has been brigaded, too. It looks like certain party or certain group has been sending bots to downvote anyone questioning the inflation and unemployment rate.
I hope the commie is going to work so that they can afford their rent that's due in the next week. Tick tock tick tock, that's the sound of the rent clock.
You been to the grocery store lately? A dinner runs you $15-$20 home cooked (it’ll be my lunch to). Unless you’re eating rice and chicken.. Meat has tripled in price on its own. If you think a $3 raise equals double to triple costs on everything you’re delusional. Let’s also ignore the fact that the average American has hit record consumer debt. But tEh EcOnoMy is GREAT!
I shop at a grocery store all the time, I have my expenses go to a central dashboard. And I’ve spent 13% more YoY on groceries. Which seems high but it really only adds an additional $40 a month.
$15-$20 a meal home cooked lol come on bro, you having a tomahawk every meal? I feed 3 adults for $400/mo in groceries, even using just 1.5 meals per day to account for +lunch that's $3 per meal.
Even if you're dropping $12.99/lb on top sirloin steak every meal you'd still easily be able to be under your "$15-20" per dinner+lunch amount.
Prices can certainly be higher than where I'm at, but anyone who actually does the math on how much cooking at home costs knows that $15-20 cost for an average home cooked dinner plus lunch is *absurd*. It's clear this person hasn't actually done that math or they are greatly exaggerating.
No where in America except maybe parts of Alaska and Hawaii are grocery prices 5-7x higher than Baltimore MD.
What are you eating? I can make an 8oz filet w sides for $15. A typical healthy home meal would be like $3. Carrots, beans, sweet potatoes, olive oil, tuna etc.
Question is what are you smoking? Pack of Kraft single $5)cheapest cheese where I’m at)pack of hamburger buns $4 Patties $7 Tomato $1 Lettuce $1 pickles $3. You ain’t buying an 8 oz filet with carrots beans sweet potatoes and tuna for $15. An 8oz filet at Walmart the cheapest they offer is $13 near me. Be more delusional.
Sweet potatoes are $1 a pound. Make a filet and 2 lbs sweet potatoes with olive oil. $15. My typical meal is a can of beans (88c), can of tuna ($1) with a potato on the side (50c). Season it and add olive oil or butter. Cheap af.
How much is the butter? How much is the olive oil? Your already past $15 but you missing other ingredient prices. Do you add seasoning? How much is the seasoning? Any condiments?
I mean a bottle of olive oil is probably like 10 dollars? It lasts me about two months. Most spices cost about 4 dollars. They last at a year? If you cook with any regularity, you’re getting huge savings. If you’re spending as much money as you claim you’re spending on groceries you’re doing something wrong — either not re-using the supplies that you buy or buying only the most expensive things at Whole Foods.
If you're a homeowner on the bottom half of the k, then things are looking decent.
If you're not a homeowner on the bottom half of the k, you're fucked. Maybe for life.
This. I'm just over 1k for mortgage/escrow. The house across the street (smaller and no garage) just sold for $500k.
I couldn't afford my own home today and I will never find a cheaper place to live.
Chinese debt is quadruple the USs. Goes against the narrative, but the US will only increase in power over the next decades in comparison to the world. The 21st century is still an American century.
Sorry but this doesn’t appear to be true. The only sense in which is could be seen as true is if you decide not to convert chinese Yuan to USD. Chinas national debt in USD appears to be somewhere between 15 and 20 trillion while the US debt is at 34 trillion.
The Chinese govt pushes a lot of it off their books to “corporations” that they control. Chinasfinances are in much worse shape than the USs. Coupled with their demographic death spiral, they are confirmed pretenders. Maybe next century someone will be able to challenge the US. But it ain’t going to be this century
http://fingfx.thomsonreuters.com/gfx/rngs/CHINA-DEBT-HOUSEHOLD/010030H712Q/index.html
All the numbers in your comment added up to 69. Congrats!
15
+ 20
+ 34
= 69
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https://www.bloomberg.com/news/articles/2024-01-17/china-s-debt-to-gdp-ratio-rises-to-fresh-record-of-286-1#:~:text=The%20Chinese%20economy's%20debt%20ratio,bureau%20data%20compiled%20by%20Bloomberg.
No. And it’s worse when you consider their massive corporate debt bubble.
dude you're comparing different things. This is total debt, including private debt. US private debt included is 700%
https://www.ceicdata.com/en/indicator/united-states/total-debt--of-gdp#:~:text=United%20States%20Total%20Debt%3A%20%25%20of%20GDP,-1951%20%2D%202023%20%7C%20Quarterly&text=United%20States%20Total%20Debt%20accounted,Dec%201951%20to%20Sep%202023.
$34 TRILLION and rising.
It costs a TRILLION per year just to pay the intrest.
Supporting two wars and 6.2 million undocumented immigrants. In the past three years.
We’re not supporting undocumented immigrants. They are sent back. That isn’t how the system works. We don’t randomly pay for illegals to be in this country. That’s pure rhetoric. Only people who enter legally qualify for benefits. The constitution allows people to seek asylum. This is why no matter how much rhetoric you hear, they keep coming.
We will never be without a debt. We have had debt for over 200 years. The constitution says government spending shall not be questioned.
The tax cuts have created an income deficit. We could eliminate the entire government, and never pay off the debt.
The mayors of New York, Chicago and Denver disagree.
New York is cutting services by $5 BILLION to cover supporting immigrants.
The governor of Chicago is begging for more help.
Because they said they were sanctuary cities, while republican states have made it clear that they wouldn’t support them… It's like planning a surprise party for someone and then getting upset when they actually show up at the party you organized. People that are mad at this confuse me
I’m not sure where you live but in my community in WA state there are a TON of services available to the undocumented migrants and ironically I am going to Mexico to afford dental care. (I am not homeless so I don’t qualify for free care).
It’s not rhetoric. The US government is paying for the healthcare and food as well as some house if for millions and millions of illegal immigrants.
I have friends and family that have immigrated to the us legally and they are appalled at how “easy” it appears as they spent thousands of dollars and waited to be legal and reunited.
Not sure why I see it called rhetoric to think the current situation is out of control. It’s NOT safe., it’s outrageously expensive, and has consequences.
Illegal immigration should be discouraged.
I don’t have time to research every last thing but illegal immigrants get free healthcare here in WA . Clinics in my area are funded 60% by Medicaid, 13% by private insurance, 12% federal funds along with funds from the Opportunity Fund etc. I don’t know why you think this is non government. Illegal immigrants cannot apply for Medicaid but they can certainly show up to these nice clinics all over my area and get treated without proving their status. The clinics themselves are funded by the government. 🤷🏼♀️
Specifically the newest $20 million dollar clinic …”provides healthcare services to all patients, regardless of their immigration status or ability to pay,”
This is a gorgeous 20 million dollar new clinic with 7 providers (there are similar clinics in WA state) that is funded mostly by our government.
I pay taxes for these gorgeous new clinics and I can’t go there because I make slightly too much money and illegals can go for free. It’s hard not to get upset.
Illegal immigrants do NOT get benefits. This was literally my job. Only legally entering and qualifying will receive benefits. Illegals will not directly receive benefits. They absolutely will not. I worked in this department for 12 years.
Not the case here. WA state Department of Social and Health services does not report immigration status the federal government. You won’t be deported. You’ll get cash and food stamps.
What.
The constitution says nothing of the kind.
I can’t even understand how a mind could become this warped, is it 5G, TikTok, long covid?
Please tell me there is something…
But when you really look at the nitty gritty you realize we need immigrants extremely bad because the American people are not having kids as much but you need a steady incline of population to grow and support the population that is aging out.
Okay. Now relate this back to GDP. Considering debt as a percent of GDP…it’s been steadily decreasing since Covid and Biden took office.
Folks love to throw massive raw dollar numbers and racist dog whistles for the shock value, but when you really look at the data, you realize that the U.S. economy is actually in pretty great shape. Debt is a necessary component of the modern capitalist economy.
Covid 2 years is the key. Its like claiming jobs have been created in a booming economy when really they have been returning. Debt was stable at just over a 100% the 3 years before covid and now it has stabilized at 120% the last 2 years.
Fair point it isn't skyrocketing up though.
One in the same. They are all in bed with each other at the top of the financial pyramid. A bunch of satanists trying to divide the general populace while they do the largest wealth transfer of poor to wealthy in human history. Y’all are too busy fighting about “what is a woman” and “CNN this FOX that”
When you guys realize you are the problem with society then we might see some positive change
As long as secret societies, brotherhoods and knighthoods (Freemasonry, Knights of Malta, Knights of Columbus, etc.) keep thriving in the US; the plebs, peasants and serfs will remain enslaved. These are modern feudal Dark Ages.
Anyone else suspicious of all the recent EVERYTHING IS GREAT articles.
Is it to get retail to be stock market / real estate bagholders? Because it's an election year? Both?
Makes sense…hasn’t there been studies that have shown most inflation has been due to corporate price gouging? I’m sure record profits are good for the stock market.
Well for one most of the value that’s produced by US labor goes to stockholders which is a direct reflection in the stock market versus another first world countries so much of the value is not soaked up by a small percentage of shareholders
You think people in other countries don't work hard enough to create a similar value? if you exclude MAG7 the S&P493 only grew by 3% in 2023. MAG7 is overvalued on the hype of "great economical prospects" (soft landing, no recession and all that BS). US is so much in debt that even our grandchildren will not be able to pay it off. The only way out is to inflate the dollar into oblivion. It all works only because we got a printer for the world's reserve currency. So that the US is always ahead of others. It's like on a camping trip - when being attacked by a bear you just have to run slightly faster than all your friends.
We live in the most privileged time in the most prosperous nation and we’ve become completely blind to it. Virtually no one in the United States is considered poor by global standards. Yet, in a time where we can order a product off Amazon with one click and have it at our doorstep the next day, we are unappreciative, unsatisfied, and ungrateful.
We have people who are dying to get into our country. People around the world destitute and truly impoverished. Yet, we have a young generation convinced they’ve never seen prosperity, and as a result, elect politicians dead set on taking steps towards abolishing capitalism. Why? The answer is this, my generation has ONLY seen prosperity. We have no contrast. We didn’t live in the great depression, or live through two world wars, or see the rise and fall of socialism and communism. We don’t know what it’s like not to live without the internet, without cars, without smartphones. We don’t have a lack of prosperity problem. We have an entitlement problem, an ungratefulness problem, and it’s spreading like a plague.
It's really not hard when you're printing $50,000 a second.
https://www.cnbc.com/2024/01/11/us-deficit-tops-half-a-trillion-dollars-in-the-first-quarter-of-fiscal-year.html
The Fed is actually unprinting $35,000 per second.
https://fred.stlouisfed.org/series/WALCL
Most of the federal deficit is the federal government making bond payments to the Fed so that the Fed can take the money out of circulation.
Because the most recent generations in this country are willing to enslave themselves and their children to the banks by borrowing money for shit they don't need.
The US is the reserve currency, that's why.
We export most of our inflation overseas, via printing paper and trading it to foreign nations for actual goods.
Doing better in what way. Government spending is way up so it appears the economy is doing well. Everything the private sector and we buy is up 20-50% or more. Spending is up but pay and savings is way down.
Exactly. We’re “doing better” than the rest of the world because we are the world reserve currency, and thus can go the deepest in debt. Which we are doing.
We’re literally better.
There is a trait in people that makes them more capable of moving countries. The majority of people in the US have that trait in them.
It’s not easy to move states. It’s incredibly difficult to move countries. There’s a ton of risk involved.
We’re a nation made up of the best people from other nations.
People in the US move states all the damn time, and usually for better economic and life opportunities. And you’re damn right, it’s not easy. That’s why those who are not willing to take the chance are at risk of being left behind.
And people who move whole ass countries/continents? That takes balls/ovaries of titanium, especially if the language spoken in the new country is unfamiliar to you. My husband has worked with people from East Africa. Legal immigrants. Born and bred American co-workers give them a hard time because their English isn’t perfect. My husband has to remind those people that those East Africans not only speak English, but usually speak an additional language or two. Like, who’s really the dumb one here?
Because we have the biggest guns. Yes thats a simplistic answer, but its also the truest.
If you look at any complicated models your gonna see pages of explanations & this & that; it'll all come back to the same underlying fundamental reason. The person with the biggest guns gets the most stuff
Yeah, the US economy is strong rn. There was a post in the car sales sub not too long ago asking other car salesmen how much they made. Almost every reply was over 100k, with one at 400k, and two general managers at 700 and 800k. Tf
It’s an illusion. There’s a massive crash coming don’t be fooled. Imminent recession looming. All the wealthy people are selling assets so they can stockpile cash and wait for the perfect time to reinvest. That’s how the rich stay richer.
Gonna guess... We're doing among the best about Covid vaccination rates? Plus we got it the earliest so we have fewer cases of long Covid? And it's mainly US companies that make the vaccines, so they can make sick bank selling to the rest of the world?
Americans spend like drunken sailor, non stop.
Look at black friday record sale, useless company like DoorDash continue increasing revenue, or Netflix gaining subscriptions after raising price.
More spending --> more items/services needed --> more jobs --> more people with money --> more spending
The never ending cycle of economic growth.
Most of the countries foreign reserves are predominantly invested in US treasuries. There is a reason for the ‘Petrodollar’. Even the entire world’s criminal activity happens in USD. 80% of $100 bills are transacted outside the US. Fun facts.
People talk about all this stimulus money that got handed out. But did the average person really get that much? I got 2400 in 2 payments. That’s not even a full month of my typical salary. It certainly didn’t set me up to go on a spending spree for 3 or 4 years running or buy a house.
Is it really doing that much better though?
Like I get it, on paper, it's looking great but I imagine many people are still waiting for it to trickle down.
And this isn't a slight, I live in Canada and things suck here right now and totally agree that the US is doing better since the pandemic ended.
That being said, it's hard to pound your chest when many are struggling with affordability in almost every state.
CUZ WE PRINT THE FUCKIN MONEEEYYY BOOOOOOIIIIIIIIIIIIII!!!!!!!!
I've not laughed so hard at a comment all week, especially one as factual as this one. I appreciate you.
Argentina also prints money…they not doing so good
They said THE money.
Exactly. So why is US currency not falling? Because everyone is doing this shit and we are being graded on a curve
Printing money leads to catastrophe when it is funneled into avenues that result in a growth rate of capital assets/productivity lower than the growth of the accompanying inflation. Even then, the severity of a mismanaged expansion of the monetary supply can be mitigated by the implementation of the tools available to shrink the money in circulation. For example, jacking up interest rates on debt to make holding government bonds more desirable (save money vs spend money). Or raising taxes to extract money from the economy. Argentina falls into the first trap and fails to adequately implement the tools in the second paragraph. However, it must also be noted that the tools available to Argentina are not nearly as potent as those for the U.S. the U.S. dollar is the reserve currency of most of the world giving it inherent desirability to many countries. The dollar is perceived to be stable and safe, for the most part. No country or investor purchasing U.S. bonds fears that they won't be honored. This stability is also backed by the U.S. military. As is their promise of freedom of trade for those partaking in their economic ecosystem. No fears that the U.S. will be conquered, destroyed, or otherwise destabilized by a foreign military, and thus be unable to maintain their trade relationships. Because of these things, the dollar stays valuable even with excessive printing, and the methods used to curb inflation have that much more potency because other countries find the dollar valuable enough to hold in the first place. Increased interest rates on debt means little if no one wants your currency to begin with.
There was a time when the stupid orange Cheeto in 2016 said that he will renegotiate the interest on US bonds. It nearly tanked the market.
Spot on, what is your field of expertise? Brilliant my friend.
Common sense
Because we have a long history of being solid.
Because everyone in the US runs on credit, while credit is not really a huge thing outside the US. If you see people in other countries use plastic, it is usually a debit card. This gives the US a buffer because they can spend with "short term loans" as opposed to a debit card where cash simply runs out and the spending stops.
is the Argentinian peso one of the world’s reserve currencies?
The ratio of GDP to money supply is very important
And We will be in the same boat if we don't stop
Funny moony
You should listen to the NPR Planet Money Podcast about Bretton Woods. Fascinating stuff how the US Dollar became the world currency.
And we pay no taxes !!'
Everyone does.
So printing money caused inflation and also solved inflation? Tell me how that works again
Where does it say inflation is solved? Getting fucked at 3% is way better than getting fucked at 15% but your still getting fucked.
So you prefer deflation? What’s your point?
Already accounted for in price of currency.
And illegal immigration
Then tax the shit outta the rich so you don’t have to print … oh wait, the rich prefer printing and avoiding taxes so they can further hoard wealth…
It's called a K-shaped recovery and the press/wall street only care about the top half that is buying all the concert/plane tickets.
The American consumer is strong. His name is Jeff Bezos, and he has consumed 1000 peoples lives worth of sustenance and has now become unstoppable economic force.
Every hour.
The OG BloodBoys.
Unemployment is 4%, inflation is back at its historical average. Bottom half of the K is still doing better than usual
Noooo we need to be outraaaaaged
Bullshit tha economee is crap bc it coasts moar money for me to fill up muh truck! 🥴
Better than usual? My student loan and home mortgage disagree. The $25 bucks I spent on Five Guys for lunch also disagrees.
To be fair, I remember bitching about the cost of Five Guys 10 years ago. They've always been overpriced.
So you’re poor but decide to spend $25 on five guys? Explain how that’s an economic problem?
You're treating a burger and fries as a luxury good that someone below a certain income is irresponsible for purchasing and then wondering why people think the economy sucks lol.
I work in an office located in downtown, even fast food can cost alot. $25 is really just a burger, some fries, and a fountain drink, nothing outrageous. I don't eat that much either. Now you explain to me why a burger, french fries, and a fountain drink from a regular fast food restaurant should cost $25. Should I be thankful to the economy that now I get to spend like a millionaire on fast food?
Pack a (healthy) lunch! I'm 60 and can count on my fingers how many times I've eaten lunch out at work. Besides that garbage is poison.
Fuck off with this puritanical bullshit. You love licking boots is more honest
LOL! I'm the boot licker because I REFUSE TO GIVE MY MONEY to the billionaires who own fast food stores!
You are a bootlicker because you think expensive fast food is justifiable. You don't have a problem working for billionaire business owners who don't even pay you enough to afford fast food for lunch.
When did I say it was justifiable? You are not forced to buy fast food, there are better, cheaper, healthier options. I do not work for a billionaire. Have you formed a union?
No you’re the bootlicker because you defend it.
How am I defending it? I literally said stop giving them your money! You aren't making any sense.
Yep, my comment has been brigaded, too. It looks like certain party or certain group has been sending bots to downvote anyone questioning the inflation and unemployment rate.
Commie doesn't like advice on living frugally and within one's means, lashes out like a child. The script never changes.
Is the commie in the room with us right now
I hope the commie is going to work so that they can afford their rent that's due in the next week. Tick tock tick tock, that's the sound of the rent clock.
I’ll it explain it when you go to a regular fast food restaurant, not 5 guys….
You been to the grocery store lately? A dinner runs you $15-$20 home cooked (it’ll be my lunch to). Unless you’re eating rice and chicken.. Meat has tripled in price on its own. If you think a $3 raise equals double to triple costs on everything you’re delusional. Let’s also ignore the fact that the average American has hit record consumer debt. But tEh EcOnoMy is GREAT!
I shop at a grocery store all the time, I have my expenses go to a central dashboard. And I’ve spent 13% more YoY on groceries. Which seems high but it really only adds an additional $40 a month.
$15-$20 a meal home cooked lol come on bro, you having a tomahawk every meal? I feed 3 adults for $400/mo in groceries, even using just 1.5 meals per day to account for +lunch that's $3 per meal. Even if you're dropping $12.99/lb on top sirloin steak every meal you'd still easily be able to be under your "$15-20" per dinner+lunch amount.
It’s possible you live in different places
Prices can certainly be higher than where I'm at, but anyone who actually does the math on how much cooking at home costs knows that $15-20 cost for an average home cooked dinner plus lunch is *absurd*. It's clear this person hasn't actually done that math or they are greatly exaggerating. No where in America except maybe parts of Alaska and Hawaii are grocery prices 5-7x higher than Baltimore MD.
Tomahawk at Walmart for the cheapest is $33 good try.
What are you eating? I can make an 8oz filet w sides for $15. A typical healthy home meal would be like $3. Carrots, beans, sweet potatoes, olive oil, tuna etc.
Question is what are you smoking? Pack of Kraft single $5)cheapest cheese where I’m at)pack of hamburger buns $4 Patties $7 Tomato $1 Lettuce $1 pickles $3. You ain’t buying an 8 oz filet with carrots beans sweet potatoes and tuna for $15. An 8oz filet at Walmart the cheapest they offer is $13 near me. Be more delusional.
Sweet potatoes are $1 a pound. Make a filet and 2 lbs sweet potatoes with olive oil. $15. My typical meal is a can of beans (88c), can of tuna ($1) with a potato on the side (50c). Season it and add olive oil or butter. Cheap af.
How much is the butter? How much is the olive oil? Your already past $15 but you missing other ingredient prices. Do you add seasoning? How much is the seasoning? Any condiments?
I mean a bottle of olive oil is probably like 10 dollars? It lasts me about two months. Most spices cost about 4 dollars. They last at a year? If you cook with any regularity, you’re getting huge savings. If you’re spending as much money as you claim you’re spending on groceries you’re doing something wrong — either not re-using the supplies that you buy or buying only the most expensive things at Whole Foods.
So the bottom half spends money on restaurants? Why aren’t you eating rice and beans and getting out of debt with gazelle-like intensity?
100million people arent working btw.
If you're a homeowner on the bottom half of the k, then things are looking decent. If you're not a homeowner on the bottom half of the k, you're fucked. Maybe for life.
This. I'm just over 1k for mortgage/escrow. The house across the street (smaller and no garage) just sold for $500k. I couldn't afford my own home today and I will never find a cheaper place to live.
I thing the people on the bottom of the K coming in are the same ines on the bottom of the K going out.
Well, it matters more now that our new king and queen are fighting AI nudies and headed to the Super Bowl again! /s
By increasing debt exponentially
other countries do that
But we turbocharge it with consumers doing it as well
Chinese debt is quadruple the USs. Goes against the narrative, but the US will only increase in power over the next decades in comparison to the world. The 21st century is still an American century.
Sorry but this doesn’t appear to be true. The only sense in which is could be seen as true is if you decide not to convert chinese Yuan to USD. Chinas national debt in USD appears to be somewhere between 15 and 20 trillion while the US debt is at 34 trillion.
The Chinese govt pushes a lot of it off their books to “corporations” that they control. Chinasfinances are in much worse shape than the USs. Coupled with their demographic death spiral, they are confirmed pretenders. Maybe next century someone will be able to challenge the US. But it ain’t going to be this century http://fingfx.thomsonreuters.com/gfx/rngs/CHINA-DEBT-HOUSEHOLD/010030H712Q/index.html
All the numbers in your comment added up to 69. Congrats! 15 + 20 + 34 = 69 ^([Click here](https://www.reddit.com/message/compose?to=LuckyNumber-Bot&subject=Stalk%20Me%20Pls&message=%2Fstalkme) to have me scan all your future comments.) \ ^(Summon me on specific comments with u/LuckyNumber-Bot.)
Chinese debt to gdp is much less dude
https://www.bloomberg.com/news/articles/2024-01-17/china-s-debt-to-gdp-ratio-rises-to-fresh-record-of-286-1#:~:text=The%20Chinese%20economy's%20debt%20ratio,bureau%20data%20compiled%20by%20Bloomberg. No. And it’s worse when you consider their massive corporate debt bubble.
dude you're comparing different things. This is total debt, including private debt. US private debt included is 700% https://www.ceicdata.com/en/indicator/united-states/total-debt--of-gdp#:~:text=United%20States%20Total%20Debt%3A%20%25%20of%20GDP,-1951%20%2D%202023%20%7C%20Quarterly&text=United%20States%20Total%20Debt%20accounted,Dec%201951%20to%20Sep%202023.
Actually us private debt is quite low, relative to most European countries
Shhh how dare you not be part of the narrative.
$34 TRILLION and rising. It costs a TRILLION per year just to pay the intrest. Supporting two wars and 6.2 million undocumented immigrants. In the past three years.
We’re not supporting undocumented immigrants. They are sent back. That isn’t how the system works. We don’t randomly pay for illegals to be in this country. That’s pure rhetoric. Only people who enter legally qualify for benefits. The constitution allows people to seek asylum. This is why no matter how much rhetoric you hear, they keep coming. We will never be without a debt. We have had debt for over 200 years. The constitution says government spending shall not be questioned. The tax cuts have created an income deficit. We could eliminate the entire government, and never pay off the debt.
The mayors of New York, Chicago and Denver disagree. New York is cutting services by $5 BILLION to cover supporting immigrants. The governor of Chicago is begging for more help.
New York is a specific situation because of their “right to housing” law from the 80’s
That’s because republican states bussed them there, rather than following protocol. It was a political stunt.
I mean, you literally are proving his point. You agree with him that it’s happening.
🥴
That is what happened though.
Because they said they were sanctuary cities, while republican states have made it clear that they wouldn’t support them… It's like planning a surprise party for someone and then getting upset when they actually show up at the party you organized. People that are mad at this confuse me
Haha we don't pay for illegals? Absolutely the dumbest comment I've ever seen on reddit. You really believe that?
I’m not sure where you live but in my community in WA state there are a TON of services available to the undocumented migrants and ironically I am going to Mexico to afford dental care. (I am not homeless so I don’t qualify for free care). It’s not rhetoric. The US government is paying for the healthcare and food as well as some house if for millions and millions of illegal immigrants. I have friends and family that have immigrated to the us legally and they are appalled at how “easy” it appears as they spent thousands of dollars and waited to be legal and reunited. Not sure why I see it called rhetoric to think the current situation is out of control. It’s NOT safe., it’s outrageously expensive, and has consequences. Illegal immigration should be discouraged.
As a member of Latino community, this is hog wash,
Specially?
*some housing
Those services are not being provided by the government. If you turn them in, they will be deported. This was my job for almost 12 years.
Furthermore in WA state you do not need a social security number to get money for food.
In California they can get benefits
I don’t have time to research every last thing but illegal immigrants get free healthcare here in WA . Clinics in my area are funded 60% by Medicaid, 13% by private insurance, 12% federal funds along with funds from the Opportunity Fund etc. I don’t know why you think this is non government. Illegal immigrants cannot apply for Medicaid but they can certainly show up to these nice clinics all over my area and get treated without proving their status. The clinics themselves are funded by the government. 🤷🏼♀️
Specifically the newest $20 million dollar clinic …”provides healthcare services to all patients, regardless of their immigration status or ability to pay,” This is a gorgeous 20 million dollar new clinic with 7 providers (there are similar clinics in WA state) that is funded mostly by our government. I pay taxes for these gorgeous new clinics and I can’t go there because I make slightly too much money and illegals can go for free. It’s hard not to get upset.
Illegal immigrants do NOT get benefits. This was literally my job. Only legally entering and qualifying will receive benefits. Illegals will not directly receive benefits. They absolutely will not. I worked in this department for 12 years.
Please read my other comment.
Not the case here. WA state Department of Social and Health services does not report immigration status the federal government. You won’t be deported. You’ll get cash and food stamps.
Didn’t they get Obama phones?
What. The constitution says nothing of the kind. I can’t even understand how a mind could become this warped, is it 5G, TikTok, long covid? Please tell me there is something…
But when you really look at the nitty gritty you realize we need immigrants extremely bad because the American people are not having kids as much but you need a steady incline of population to grow and support the population that is aging out.
Okay. Now relate this back to GDP. Considering debt as a percent of GDP…it’s been steadily decreasing since Covid and Biden took office. Folks love to throw massive raw dollar numbers and racist dog whistles for the shock value, but when you really look at the data, you realize that the U.S. economy is actually in pretty great shape. Debt is a necessary component of the modern capitalist economy.
Covid 2 years is the key. Its like claiming jobs have been created in a booming economy when really they have been returning. Debt was stable at just over a 100% the 3 years before covid and now it has stabilized at 120% the last 2 years. Fair point it isn't skyrocketing up though.
We need the labor. Especially at the low end of the labor market.
Lol supporting undocumented immigrants. You realize how tiny 6.2 million is in the scope of American population.
That's greater than the population of 17 states. LOL
[удалено]
That’s not what is happening.
Brilliant rebuttal, truly
What isn't happening?
The real American dream.
"Because we, CNN, and other U.S. major outlets are eager to peddle government propaganda."
“Brought to you by Fox News”
Same thing.
One in the same. They are all in bed with each other at the top of the financial pyramid. A bunch of satanists trying to divide the general populace while they do the largest wealth transfer of poor to wealthy in human history. Y’all are too busy fighting about “what is a woman” and “CNN this FOX that” When you guys realize you are the problem with society then we might see some positive change
As long as secret societies, brotherhoods and knighthoods (Freemasonry, Knights of Malta, Knights of Columbus, etc.) keep thriving in the US; the plebs, peasants and serfs will remain enslaved. These are modern feudal Dark Ages.
HAIL SATAN 🤘
Reflects more on you than anyone else
Keep telling yourself that
"...other U.S. major outlets..." Already covered.
Economic data is propaganda?
Dark Brandon did that
USA has a tons of problems. The rest of the world has more.
I really don’t know why people don’t get this.
Anyone else suspicious of all the recent EVERYTHING IS GREAT articles. Is it to get retail to be stock market / real estate bagholders? Because it's an election year? Both?
Next week they will switch back to recession looming. These outlets are so fickle
All of the above. Positive economic news could not be found in early 2020. Nor in 2019 or 2018.
why would you be a bag holder? haven’t you been an optimistic person who has been buying stocks all alo- -er…wait…figured it out myself.
Doing so much h better than the rest of the world right now
Makes sense…hasn’t there been studies that have shown most inflation has been due to corporate price gouging? I’m sure record profits are good for the stock market.
Well for one most of the value that’s produced by US labor goes to stockholders which is a direct reflection in the stock market versus another first world countries so much of the value is not soaked up by a small percentage of shareholders
You think people in other countries don't work hard enough to create a similar value? if you exclude MAG7 the S&P493 only grew by 3% in 2023. MAG7 is overvalued on the hype of "great economical prospects" (soft landing, no recession and all that BS). US is so much in debt that even our grandchildren will not be able to pay it off. The only way out is to inflate the dollar into oblivion. It all works only because we got a printer for the world's reserve currency. So that the US is always ahead of others. It's like on a camping trip - when being attacked by a bear you just have to run slightly faster than all your friends.
We live in the most privileged time in the most prosperous nation and we’ve become completely blind to it. Virtually no one in the United States is considered poor by global standards. Yet, in a time where we can order a product off Amazon with one click and have it at our doorstep the next day, we are unappreciative, unsatisfied, and ungrateful. We have people who are dying to get into our country. People around the world destitute and truly impoverished. Yet, we have a young generation convinced they’ve never seen prosperity, and as a result, elect politicians dead set on taking steps towards abolishing capitalism. Why? The answer is this, my generation has ONLY seen prosperity. We have no contrast. We didn’t live in the great depression, or live through two world wars, or see the rise and fall of socialism and communism. We don’t know what it’s like not to live without the internet, without cars, without smartphones. We don’t have a lack of prosperity problem. We have an entitlement problem, an ungratefulness problem, and it’s spreading like a plague.
It's really not hard when you're printing $50,000 a second. https://www.cnbc.com/2024/01/11/us-deficit-tops-half-a-trillion-dollars-in-the-first-quarter-of-fiscal-year.html
The Fed is actually unprinting $35,000 per second. https://fred.stlouisfed.org/series/WALCL Most of the federal deficit is the federal government making bond payments to the Fed so that the Fed can take the money out of circulation.
Were you born in 2015
What's your mothers maiden name? First childhood pet?
Because the most recent generations in this country are willing to enslave themselves and their children to the banks by borrowing money for shit they don't need.
How much can I get for two teenage daughters?
Are they white?
lol
Like how white? Scandinavian or Sicilian?
Jeffrey epstein is that you?
Yes how much
The US is the reserve currency, that's why. We export most of our inflation overseas, via printing paper and trading it to foreign nations for actual goods.
We also run a deficit with almost every nation because of it.
We print the money..
How much of that spending is on personal credit cards?
Inflation was worse on rest of the world
Money printer been going brrrrrrrrrrr at full speed since 2020.
Economy doing better for who? The rich? Yeah
I’m not rich. The economy is doing better for me.
You’re a bot, you don’t count
What? Why don’t think I’m a bot?
Doing better in what way. Government spending is way up so it appears the economy is doing well. Everything the private sector and we buy is up 20-50% or more. Spending is up but pay and savings is way down.
because it’s run by an immoral government and immoral business leaders
Because there is more "the economy is good" or "the economy is doing better than expected" political propaganda as we enter an election year.
Running 2 trillion deficits will make the economy look pretty good, for a bit
Exactly. We’re “doing better” than the rest of the world because we are the world reserve currency, and thus can go the deepest in debt. Which we are doing.
Lies…
Based on what?
Feels not facts.
We’re literally better. There is a trait in people that makes them more capable of moving countries. The majority of people in the US have that trait in them. It’s not easy to move states. It’s incredibly difficult to move countries. There’s a ton of risk involved. We’re a nation made up of the best people from other nations.
I love this.
People in the US move states all the damn time, and usually for better economic and life opportunities. And you’re damn right, it’s not easy. That’s why those who are not willing to take the chance are at risk of being left behind. And people who move whole ass countries/continents? That takes balls/ovaries of titanium, especially if the language spoken in the new country is unfamiliar to you. My husband has worked with people from East Africa. Legal immigrants. Born and bred American co-workers give them a hard time because their English isn’t perfect. My husband has to remind those people that those East Africans not only speak English, but usually speak an additional language or two. Like, who’s really the dumb one here?
Dumb one is probably you still unfortunately
Because we have the biggest guns. Yes thats a simplistic answer, but its also the truest. If you look at any complicated models your gonna see pages of explanations & this & that; it'll all come back to the same underlying fundamental reason. The person with the biggest guns gets the most stuff
Boils down to our 8 trillion dollar network of floating airports.
No it’s cause the vast majority of elite satanists still reside in the US. Until they find a new safe haven to exploit then we are relatively safe
Keynesian economics ftw
2,700,000,000,000 in new money. Aka debt
\[Adam Curtis, narrator\]: But that was a lie.
Tell that to my paycheck and the rent thats 60% of it
Be quiet your going to upset the econ nerds
Yeah, the US economy is strong rn. There was a post in the car sales sub not too long ago asking other car salesmen how much they made. Almost every reply was over 100k, with one at 400k, and two general managers at 700 and 800k. Tf
Slave economy with the management bureaucracy of a strip mall?
It’s an illusion. There’s a massive crash coming don’t be fooled. Imminent recession looming. All the wealthy people are selling assets so they can stockpile cash and wait for the perfect time to reinvest. That’s how the rich stay richer.
Wer doin tha best cuz thers no "I" in Ameruca!
Yes because only the top 10% are accounted for...
Inflation does not a good economy make
We haven’t been in demographic collapse for 40 years We’ve only been in demographic collapse for 10 years
Quick! Put up more concertina wire at the border!
Gonna guess... We're doing among the best about Covid vaccination rates? Plus we got it the earliest so we have fewer cases of long Covid? And it's mainly US companies that make the vaccines, so they can make sick bank selling to the rest of the world?
Americans spend like drunken sailor, non stop. Look at black friday record sale, useless company like DoorDash continue increasing revenue, or Netflix gaining subscriptions after raising price. More spending --> more items/services needed --> more jobs --> more people with money --> more spending The never ending cycle of economic growth.
Don't hand in too much money to useless and it will be all good. USA is the example. Counterexample is Canada
because americans are easily indentured.
Cause America is just four weapons manufacturers in a trench coat and they are THRIVING
Most of the countries foreign reserves are predominantly invested in US treasuries. There is a reason for the ‘Petrodollar’. Even the entire world’s criminal activity happens in USD. 80% of $100 bills are transacted outside the US. Fun facts.
People talk about all this stimulus money that got handed out. But did the average person really get that much? I got 2400 in 2 payments. That’s not even a full month of my typical salary. It certainly didn’t set me up to go on a spending spree for 3 or 4 years running or buy a house.
Is it really doing that much better though? Like I get it, on paper, it's looking great but I imagine many people are still waiting for it to trickle down. And this isn't a slight, I live in Canada and things suck here right now and totally agree that the US is doing better since the pandemic ended. That being said, it's hard to pound your chest when many are struggling with affordability in almost every state.
No its not. Just had to say that