Wednesday, March 31, 2021
$200 billion, $2.2 trillion, $900 billion, $1.9 trillion. Over a year, Congress has passed $5.2 trillion in extraordinary spending — and President Biden wants another $3-4 trillion, split between infrastructure and social spending.
When a "normal" federal budget, pre-COVID, was $4.4 trillion, and with borrowing, not taxes, funding nearly half of federal spending, it's not crazy to ask how much is too much, before we risk huge inflation.
"Modern monetary theory" is a trendy philosophy — AOC is a fan — that holds that the government can spend as much money as it wants. Drinks all around! Even if bondholders don't feel like lending to us to make up the difference in spending and revenues, the Federal Reserve can create new money through "keystrokes," argues the first-ever MMT textbook, published in 2019.
The Fed has been doing that. In early 2008, the amount of money available in the U.S. economy was $7.5 trillion. By 2012, it had risen to more than $10 trillion. Much of this was the Fed printing electronic dollars, to encourage people to spend after the economy crashed: the Fed "grew" its own holdings from less than $1 trillion to more than $3 trillion.
(This may sound confusing, but it is no different than if you received a bank statement listing the amount of money in your checking account, didn't like it, and so took a pen and added some zeroes.)
That didn't cause inflation (sort of), so why should this?
But this time is different. In a year, the Fed has nearly doubled its own holdings (again, that pen!) from $4 trillion to $7.7 trillion. Money in the U.S. economy has risen from $15.4 trillion to $19.7 trillion, partly because people who have kept their jobs have so little to spend on, with travel and entertainment off limits.
People who lost jobs need relief. But relief is different from hosing the economy with cash.
The danger of too much spending is that it doesn't create productive goods or services; it just makes things cost more. That's especially true because, when the economy opens up, people will spend the money they've saved — they're already searching for plane flights.
DASZAK "Coronavirus is a pretty good…You can manipulate them in the lab pretty easily. It’s spike protein"
Monday, March 29, 2021
Sunday, March 28, 2021
Saturday, March 27, 2021
Friday, March 26, 2021
Wednesday, March 24, 2021
This was very interesting. However, one could argue it is not a Democrat vs. Republican issue. It a urban vs. rural issue. And it just so happens that the majority of big cities vote Democrat. In other words are Democrates the cause or are big cities the cause ? Personally, I believe Democrat policies are the cause.
On Wednesday, March 24, 2021, 6:14 AM, Bill wrote:
Tuesday, March 23, 2021
Monday, March 22, 2021
In Plain Sight: How White Supremacy, Misogyny, and Hate Targeted the Star Wars Sequel Trilogy and Won
Friday, March 19, 2021
Wednesday, March 17, 2021
Tuesday, March 16, 2021
Monday, March 15, 2021
Sunday, March 14, 2021
Saturday, March 13, 2021
Possibly the strongest belief I had going into last year and the one I was saddest to lose when I realized it simply wasn't true anymore, was the belief that we were still a free country.
Biden's teleprompter speech Thursday evening paraded his non-belief in the Constitution. While claiming to be a unity president, not only did he give President Trump and his team zero credit for getting the vaccine fast-tracked and the country supplied with at least 100 million doses, he, Emperor No-Clothes, pronounced that he has decided we might be able to get outside with our close family members for the 4th of July, only if we are good boys and girls.
If the new normal means the Democrats-in-charge will have the power to dictate the nature of small outdoor family gatherings two full months after his goal of getting every willing person vaccinated, then Biden doesn't understand the meaning of Independence Day. "
Friday, March 12, 2021
Thursday, March 11, 2021
Wednesday, March 10, 2021
2. I do not trust China. There allowed people from Wuhan to travel to Italy and other countries when they were preventing the same people from traveling inside China. The CCP is inherently corrupt and turned into a brutal dictatorship that routinely engages in torture and murder.
Monday, March 8, 2021
Sunday, March 7, 2021
Saturday, March 6, 2021
Friday, March 5, 2021
Peterson writes an entire chapter against ideologies—feminism, anti-capitalism, environmentalism, basically anything ending in ism—declaring that life is too complex to be described by such intellectual frameworks. Funny story: There's an academic movement devoted to skepticism of grand historical narratives. It's called … postmodernism. That chapter concludes by advising readers to put their own lives in order before trying to change the world. This is not only a rehash of one of the previous 12 rules—"Clean up your bedroom," he writes, because fans love it when you play the hits—but also ferocious chutzpah coming from a man who was on a lecture tour well after he should have gone to rehab.On Fri, Mar 5, 2021 at 12:50 PM Larry wrote:I only vaguely knew the name Jordan Peterson for maybe 5 years.I knew he was controversial and the press characterized him as alt-right.I had no interest, and slightly avoided anything related to him.I have since watched him debate and be interviewed few times.He is a strange man. But, ge also is a methodical and intellectual debater with interesting takes. He also had some strange health issues with him and his family.He is most famous for his book/speeches on 12 principles, which seem very good.This article in the Atlantic is a well written history of his life.
Thursday, March 4, 2021
Tuesday, March 2, 2021
Monday, March 1, 2021
From: Larry Trout