Post#1964 » by MrDollarBills » Wed Jul 17, 2024 10:47 pm
Capn'O wrote:Luv those Knicks wrote:Neutral 123 wrote:Removing liquidity once you've added it involves taking from someone. That can certainly be done easily, but is very difficult politically.
This is done gradually through raising of interest rates that slows down the creation of new debt (money) and reduction in government spending. This takes time.
There are a lot of good sources on this topic and economics in general.
That's true, but what irritates the crap out of me is how everyone says inflation is Biden's fault. Like it wouldn't have happened under Trump. It would have. Maybe 7% instead of 8%, but it still happens.
They put too much into the COVID recovery package, but people don't have crystal balls. Add to that, the war in Ukraine which spiked gas prices and corporations eager to make record profits post COVID and the inflation was bad, and it's already showing signs that the problem has been fixed. Prices can't go up forever.
It could have been a lot worse. Trump would have fought interest rate hikes that ultimately curbed the spike. He would have actively fought slowing the economy. Maybe less public money in the system but maybe not as the first package came under his watch. Trump is not fiscal conservative.
Trump is frothing at the mouth to kick Jerome Powell out to replace him with Jamie Dimon I heard. That should tell you everything.
Trump isn't even a conservative. Outside of authoritarianism and fascism he has no consistent ideology that he's beholden too. Whatever serves him at the moment.
Please consider donating blood:
https://www.nybc.org/2025-2026 Indiana Pacers C: J. Valanciunas /T. Bryant
PF: K. Kuzma /J. Robinson-Earl
SF: T. Evbuomwan /J. Howard
SG: T. Hardaway Jr. /V. Williams Jr.
PG: C. Payne /G.Vincent