Off-Topic Stock Market & Crypto Discussion

[SpikeUM]

From ML today (emphasis is mine):

Tale of the Tape: US debt ceiling $31.4tn equivalent to GDP of Japan, Germany, India, UK, France, Italy, Canada, Brazil, Russia, Australia, Korea & Mexico.

New 2020s fiscal excess inflationary & leads to default, debasement, de-rating of US assets.

 

[mr.h]

1st pay the bill. After that they debate budgets and may the best team win and get elected.

 

[90scane]

1st pay the bill. After that they debate budgets and may the best team win and get elected.

The 31T bill?

Revenue is $4T. If we completely stopped paying for every and focused only on the bill it would still take 10 years with interest.

You may think it is the best team but lobbyists control the strings. Thus your team could be elected but they aren’t going to truly implement what you want.

 

[DerpaDerp]

1st pay the bill. After that they debate budgets and may the best team win and get elected.

That IS the single dumbest idea you've had yet. What leverage does anyone have on budgets when you keep running up the credit card limit?

 

[mr.h]

That IS the single dumbest idea you've had yet. What leverage does anyone have on budgets when you keep running up the credit card limit?

we did it under Trump

The 31T bill?

Revenue is $4T. If we completely stopped paying for every and focused only on the bill it would still take 10 years with interest.

You may think it is the best team but lobbyists control the strings. Thus your team could be elected but they aren’t going to truly implement what you want.

Maybe I said it wrong. 1st we pay what we owe by raising the debt ceiling. Then we talk budget. 2024 is an election year and we will see what voters decide. Let's compare budgets without the threat of default. The Maga Right budget is an abortion, hurting the most vulnerable.

 

[SpikeUM]

we did it under Trump

Maybe I said it wrong. 1st we pay what we owe by raising the debt ceiling. Then we talk budget. 2024 is an election year and we will see what voters decide. Let's compare budgets without the threat of default. The Maga Right budget is an abortion, hurting the most vulnerable.

Put politics aside for a moment and consider the numbers:

Just above I posted that our budget deficit is equivalent to the combined GDP of Japan, Germany, India, UK, France, Italy, Canada, Brazil, Russia, Australia, Korea & Mexico.

By year end, the deficit will be $32T+ AND growing rapidly. Its essentially an open wound that we keep putting an irritant on, its only going to get worse.

If you taxed the wealth of all billionaires at 100% (i.e. you confiscated their assets), that would raise somewhere around $5-6 Trillion. Where are we going to get the other $25T+ from?

Its impossible, unless we DRAMATICALLY cut spending. We can do that willingly now, or wait until it gets even more out of control and the cure will be brutally painful.

Again forget politics, I gave you math and economic reality, you answer with the same. As the Rolling Stones famously sang, you cant always get what you want.

 

[DerpaDerp]

we did it under Trump

Maybe I said it wrong. 1st we pay what we owe by raising the debt ceiling. Then we talk budget. 2024 is an election year and we will see what voters decide. Let's compare budgets without the threat of default. The Maga Right budget is an abortion, hurting the most vulnerable.

No we don't owe ****. We cut spending to pull it in line with revenues. That's what SMART people do unlike you you ******* dunce. WE STOP the EXCESS SPENDING. You think we owe due to your parties excessive spending in the last congress. We don't. We CUT OFF the BILLS THEY PASSED and shove them up your ***!

Its not difficult.

If you have $1 in your pocket, and you want to buy something that's $2.50 you wait to buy it until you have the $2.50 in hand.

Pretty ******* simple.

 

[90scane]

I sit in the middle and blame both parties.
1. You don’t give away trillions then don’t adjust budgets while inflation is running crazy.
2. Both parties have ignored this for many many many years and refuse to touch the third rail(s).

 

[JD08]

Put politics aside for a moment and consider the numbers:

Just above I posted that our budget deficit is equivalent to the combined GDP of Japan, Germany, India, UK, France, Italy, Canada, Brazil, Russia, Australia, Korea & Mexico.

By year end, the deficit will be $32T+ AND growing rapidly. Its essentially an open wound that we keep putting an irritant on, its only going to get worse.

If you taxed the wealth of all billionaires at 100% (i.e. you confiscated their assets), that would raise somewhere around $5-6 Trillion. Where are we going to get the other $25T+ from?

Its impossible, unless we DRAMATICALLY cut spending. We can do that willingly now, or wait until it gets even more out of control and the cure will be brutally painful.

Again forget politics, I gave you math and economic reality, you answer with the same. As the Rolling Stones famously sang, you cant always get what you want.

You're explaining this using logic and reason to a person who can only see through a partisan lense.

 

[mr.h]

I sit in the middle and blame both parties.
1. You don’t give away trillions then don’t adjust budgets while inflation is running crazy.
2. Both parties have ignored this for many many many years and refuse to touch the third rail(s).

Of course..effing hypocrites. The debt should be a debate that can decide the 2024 elections, not to be taken hostage.
What if the Dems did this to Trump? This is not looking at it through a partisan lens. The US has raised the debt ceiling 90 times in the 20th century.
THE US PAYS IT’S BILLS. This is money already spent, that was authorized by Congress.
You guys are making it political.

 

[90scane]

The Maga Right budget is an abortion, hurting the most vulnerable.

Aren’t you pro abortion?

In all seriousness, part of our issue being the world reserve currency is asset inflation. Is it anywhere in the constitution that everyone is required to have the same standard of living?

Is it required that people have cell phones, cable TV, internet, big screen TVs, nice cars, nice clothes…?

education- even this is debatable but I believe it is in our countries best interest to provide the best possible without bias.

Healthcare- I would much rather solve the industrial food problem than providing healthcare to everyone. Remove processed sugars and watch how quickly a number of issues get resolved. Furthermore, by providing free healthcare we also increase life expectancy thus increase our costs across the board. Gee I wonder why we have massive healthcare and SS costs how!

SS- we paid in so it should be available BUT increasing the retirement age by 5 years should be a good starting point to cutting costs. Detaching it from inflation may be needed as well. Taxes on this could go higher for both individuals and companies along with removing the loophole.

Military spending cuts are fine by me so long as we don’t cut oil production and we are fully prepared for WW3. Otherwise, we may want to keep spending while we continue to back away from securing the worlds oceans for China.

Interest pays- sorta are required to pay them.

 

[90scane]

Of course..effing hypocrites

How is an independent an effing hypocrite?

Furthermore- read up on MMT. When inflation runs hot it is the responsibility of government to cut spending!

 

[mr.h]

How is an independent an effing hypocrite?

Furthermore- read up on MMT. When inflation runs hot it is the responsibility of government to cut spending!

YES, by all means cut spending, but pay the bills that Congress has already spent. Then have the argument.
How does that not make sense?

 

[mr.h]

Aren’t you pro abortion?

In all seriousness, part of our issue being the world reserve currency is asset inflation. Is it anywhere in the constitution that everyone is required to have the same standard of living?

Is it required that people have cell phones, cable TV, internet, big screen TVs, nice cars, nice clothes…?

education- even this is debatable but I believe it is in our countries best interest to provide the best possible without bias.

Healthcare- I would much rather solve the industrial food problem than providing healthcare to everyone. Remove processed sugars and watch how quickly a number of issues get resolved. Furthermore, by providing free healthcare we also increase life expectancy thus increase our costs across the board. Gee I wonder why we have massive healthcare and SS costs how!

SS- we paid in so it should be available BUT increasing the retirement age by 5 years should be a good starting point to cutting costs. Detaching it from inflation may be needed as well. Taxes on this could go higher for both individuals and companies along with removing the loophole.

Military spending cuts are fine by me so long as we don’t cut oil production and we are fully prepared for WW3. Otherwise, we may want to keep spending while we continue to back away from securing the worlds oceans for China.

Interest pays- sorta are required to pay them.

Again, this will be the debate that will decide the next election.
But have a clean debt ceiling increase, liked we have done for over 100 years. Then we debate.

 

[JD08]

Of course..effing hypocrites. The debt should be a debate that can decide the 2024 elections, not to be taken hostage.
What if the Dems did this to Trump? This is not looking at it through a partisan lens. The US has raised the debt ceiling 90 times in the 20th century.
THE US PAYS IT’S BILLS. This is money already spent, that was authorized by Congress.
You guys are making it political.

Except in 1862,1933, 1968, and 1971.

 

[Bender]

Me reading this:

So, good time to invest or bad time?

 

[90scane]

Me reading this:

So, good time to invest or bad time?

Depends on what you are investing in.

Treasuries, Bonds, CDs are returning 5-8%

Stocks- I’m sure you can find some good ones. Most of the large cap tech are holding up but I would expect them to get impacted.

 

[Bender]

Depends on what you are investing in.

Treasuries, Bonds, CDs are returning 5-8%

Stocks- I’m sure you can find some good ones. Most of the large cap tech are holding up but I would expect them to get impacted.

I'm a newbie, so idk what to invest in, but i wanna build some income on the side.

 

[TheEye]

I'm a newbie, so idk what to invest in, but i wanna build some income on the side.

Short term bonds are yielding 5% annual rates. If you have excess money with no plan, put it there. By the time it matures you may have more options.

 

[TheEye]

Put politics aside for a moment and consider the numbers:

Just above I posted that our budget deficit is equivalent to the combined GDP of Japan, Germany, India, UK, France, Italy, Canada, Brazil, Russia, Australia, Korea & Mexico.

By year end, the deficit will be $32T+ AND growing rapidly. Its essentially an open wound that we keep putting an irritant on, its only going to get worse.

If you taxed the wealth of all billionaires at 100% (i.e. you confiscated their assets), that would raise somewhere around $5-6 Trillion. Where are we going to get the other $25T+ from?

Its impossible, unless we DRAMATICALLY cut spending. We can do that willingly now, or wait until it gets even more out of control and the cure will be brutally painful.

Again forget politics, I gave you math and economic reality, you answer with the same. As the Rolling Stones famously sang, you cant always get what you want.

Deficit Tracker | Bipartisan Policy Center

Even as the U.S. economy expands, the federal government continues to run large and growing budget deficits that will soon exceed $1 trillion per…

bipartisanpolicy.org

This does not jibe with your statement of a $32 trillion deficit and growing.