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Post by aardvark on Jun 27, 2024 5:34:25 GMT -5
Oh my God, a highly accomplished and highly decorated economist married a highly accomplished and highly decorated economist. What are the odds? I found a site you might want to checkout: www.paranormaldate.com/It’s amazing. You tried this %*$# with the 51 intel officials (Who have destroyed their reputation) and now you’re trying to do the same thing with some idiot economists (who have also sold their soul to the devil) to try to get old !!!!###$$$!!!ed up Joe elected again. You people really are dumb as dirt. So says the person who couldn't quote the supposed reputation-destroying lie, despite being prompted to do so several times. You are trying to wish something into existence based on nothing more than your own hysterics. Not a good look.
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Post by HOLIDAY on Jun 27, 2024 7:37:27 GMT -5
It’s amazing. You tried this %*$# with the 51 intel officials (Who have destroyed their reputation) and now you’re trying to do the same thing with some idiot economists (who have also sold their soul to the devil) to try to get old !!!!###$$$!!!ed up Joe elected again. You people really are dumb as dirt. So says the person who couldn't quote the supposed reputation-destroying lie, despite being prompted to do so several times. You are trying to wish something into existence based on nothing more than your own hysterics. Not a good look. it turns out one economist maxed out his donations to Joe Biden this year. And that person was Janet Yellings husband. I mean, how stupid can you be? In fact, not one single one of these economists , didn’t donate heavily to the Democrat party. How embarrassing? Do you know how ridiculous that looks? How stupid?
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Post by bobinmd on Jun 27, 2024 8:17:17 GMT -5
By the way, one of the people on the prized committee that is touting, Donald Trump’s terrible economic plan is Janet Yellen’s husband. You cannot make this sht up. You make sh!t up all the time, so I’m not sure why you’re complaining. Anyway, his name is George Akerlof, and he’s a very smart, very accomplished man. You should spend more time listening to people like him and less time hanging out with Jesse Watters and and Jeanine Pirro. You’re over his head.
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Post by joetrinsey on Jun 27, 2024 8:21:48 GMT -5
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Post by aardvark on Jun 27, 2024 8:27:22 GMT -5
So says the person who couldn't quote the supposed reputation-destroying lie, despite being prompted to do so several times. You are trying to wish something into existence based on nothing more than your own hysterics. Not a good look. it turns out one economist maxed out his donations to Joe Biden this year. And that person was Janet Yellings husband. I mean, how stupid can you be? In fact, not one single one of these economists , didn’t donate heavily to the Democrat party. How embarrassing? Do you know how ridiculous that looks? How stupid? Projecting again?
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bluepenquin
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Post by bluepenquin on Jun 27, 2024 8:29:20 GMT -5
It does not take a Nobel-level economist to understand Trump's economic agenda - as currently stated, at any rate, because who knows what will come out of his mouth at any time - would inflict damage upon American consumers and destabilize the global economy. By default, nearly any plan cobbled together by the Biden administration would be better. That should not dismissed as a purely partisan opinion, primarily because it's objectively true. At any rate, one can disagree with Joseph Stiglitz's political-economic worldview, but simply referring to him as an "idiot" says far more about the commenter than it does Stiglitz. That is the odd thing to me, that the stuff that comes out of Trump's mouth is all over the map, and a lot of it would devastate the economy, but his supporters seem to all see cherry pick the pieces they want and discard the rest, while using polling data to trash the Biden economy rather than actual indicators, because the indicators area actually quite good. HOLIDAY thinks we are in a Depression, and bluepenquin seems to think we are almost there. I'm not used to seeing this scale of mass delusion. I think Trump is delusional and has gas-lighted himself at this point, by Bannon is just sitting back and laughing at us that his plan to dismantle the government is this close to working. He doesn't even hide it anymore. I am not a fan of Stiglitz - you may have a different opinion on him. He - along with a majority of these 16 experts gave a letter endorsing Build Back Better and then Inflation Reduction Act. They claimed among other things that this legislation would reduce inflation. Shortly after passing - inflation skyrocketed in this country. It was obvious to most of us - that this kind of spending when the economy was already recovering from Covid and was starting to run hot - would lead to inflation (Larry Summers being notable in predicting inflation from this legislation). What did we get from this endorsed legislation from Stiglitz? Horrible inflation not seen since the early 1980's. Increased interest rates required to try and prevent complete runaway inflation. Serious increase in our national debt. It is my opinion - along with many others - that this publicly endorsed stuff from Stiglitz was a complete disaster and did great harm to economy. That this harm has created the largest impact on the lower income. For me - I find him to be an idiot and don't take his political opinions seriously. You or others are welcome to find his opinion relevant. Now - that doesn't necessarily mean that I endorse Trump's economic vision/views for the US. I think his proposals for increased taxes in the form of higher tariffs to be an absolute disaster for the economy. This policy will be inflationary and slow economic growth. It is a tax - and it is a particularly bad tax for the economy. I also do not support lowering taxes - particularly for the more wealthy. And I don't like that he doesn't plan to do anything about the high cost of entitlement programs - like social security - which is close to falling off a cliff and wrecking the economy.
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Post by aardvark on Jun 27, 2024 8:54:44 GMT -5
Build Back Better never became law. Why even mention it? The Inflation Reduction Act did pass and became effective on August 16, 2022. I encourage everyone to look at the Wikipedia entry for it to judge for themselves its value, rather than believing bluepenquin's panicked summation.
As for inflation, it is currently at 3.27%, which is below the historical average. Yes, it did spike for a bit, but most of that happened before the Inflation Reduction Act became effective. Inflation has since been dropping from that spike.
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Post by aardvark on Jun 27, 2024 9:04:13 GMT -5
Wikipedia comes to the rescue again. Look up:
2021–2023 inflation surge
This talks about the worldwide inflation surge in that time period. Impacts from COVID and the Russia invasion of Ukraine were the biggest factors.
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Post by mikegarrison on Jun 27, 2024 9:26:19 GMT -5
Build Back Better never became law. Why even mention it? The Inflation Reduction Act did pass and became effective on August 16, 2022. I encourage everyone to look at the Wikipedia entry for it to judge for themselves its value, rather than believing bluepenquin's panicked summation. As for inflation, it is currently at 3.27%, which is below the historical average. Yes, it did spike for a bit, but most of that happened before the Inflation Reduction Act became effective. Inflation has since been dropping from that spike. Blue is going to demonize it because it goes against his religion. And I don't mean his Christianity, I mean his economic religion. He's the flip side of, for example, a dedicated Marxist who simply will not accept any evidence that Marxism doesn't work, because he philosophically *needs* it to work. Blue is like that but on the opposite side from Marxism. He philosophically needs centralized economic moderation and stimulus to not work, so he refuses to accept any evidence that it does work. Anyway, he has attacked the messengers here, but is quite silent about the message itself. Yet I believe Blue does not like tariffs, and that is the central core to Trumps plan, so regardless of how he feels about these 16 economists, does he think they are right that Trump's plan would be damaging to the economy?
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Post by blue-footedbooby on Jun 27, 2024 9:49:47 GMT -5
I don't understand why Blue has a beef against the IRA and thinks it is a major cause of inflation (Most GOPer's go with COVID stimulous). And then to falsly reference Summers is a bit over the top. Blue obviously is anti-environment or pro-petro. Probably heavily invested in a dirty industry of some sort.
For Summers, well: "So number one: It (IRA) will reduce deficits. Number two: We will augment the supply of key commodities, particularly in the energy sector, because of the subsidies and other support. And number three: We will bring down prices, particularly of pharmaceutical goods, by using the government’s purchasing power more effectively to procure at low costs. So, the net effect of this bill is going to be to reduce inflation"
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Post by oldnewbie on Jun 27, 2024 10:41:24 GMT -5
I am not a fan of Stiglitz - you may have a different opinion on him. He - along with a majority of these 16 experts gave a letter endorsing Build Back Better and then Inflation Reduction Act. They claimed among other things that this legislation would reduce inflation. Shortly after passing - inflation skyrocketed in this country. It was obvious to most of us - that this kind of spending when the economy was already recovering from Covid and was starting to run hot - would lead to inflation (Larry Summers being notable in predicting inflation from this legislation). What did we get from this endorsed legislation from Stiglitz? Horrible inflation not seen since the early 1980's. Increased interest rates required to try and prevent complete runaway inflation. Serious increase in our national debt. It is my opinion - along with many others - that this publicly endorsed stuff from Stiglitz was a complete disaster and did great harm to economy. That this harm has created the largest impact on the lower income. For me - I find him to be an idiot and don't take his political opinions seriously. You or others are welcome to find his opinion relevant. Now - that doesn't necessarily mean that I endorse Trump's economic vision/views for the US. I think his proposals for increased taxes in the form of higher tariffs to be an absolute disaster for the economy. This policy will be inflationary and slow economic growth. It is a tax - and it is a particularly bad tax for the economy. I also do not support lowering taxes - particularly for the more wealthy. And I don't like that he doesn't plan to do anything about the high cost of entitlement programs - like social security - which is close to falling off a cliff and wrecking the economy. I honestly didn't know much about Stiglitz before this, but he is very clearly not an idiot. That is why I asked you to more clearly explain your position. You did that and I appreciate it, so thank you. Others have already done a good job responding. I'll just add I find it curious you are holding fast to Larry Summers views, who has been constantly modifying his positions since he has been so completely wrong. Yes, there was a short period of high inflation, as there was around the world, but his recession never happened, and that was without the policies he favored to spike unemployment, which he felt were a necessary condition to avoid a recession. In the face of his having been so wrong, why do you laud him and call Stiglitz an idiot?
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Post by mervinswerved on Jun 27, 2024 10:54:05 GMT -5
I greatly enjoyed The Price of Peace. Finally finished it earlier this year. ![](https://m.media-amazon.com/images/I/71zTEwGZKdL._AC_UF1000,1000_QL80_.jpg)
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bluepenquin
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Post by bluepenquin on Jun 27, 2024 15:36:22 GMT -5
I am not a fan of Stiglitz - you may have a different opinion on him. He - along with a majority of these 16 experts gave a letter endorsing Build Back Better and then Inflation Reduction Act. They claimed among other things that this legislation would reduce inflation. Shortly after passing - inflation skyrocketed in this country. It was obvious to most of us - that this kind of spending when the economy was already recovering from Covid and was starting to run hot - would lead to inflation (Larry Summers being notable in predicting inflation from this legislation). What did we get from this endorsed legislation from Stiglitz? Horrible inflation not seen since the early 1980's. Increased interest rates required to try and prevent complete runaway inflation. Serious increase in our national debt. It is my opinion - along with many others - that this publicly endorsed stuff from Stiglitz was a complete disaster and did great harm to economy. That this harm has created the largest impact on the lower income. For me - I find him to be an idiot and don't take his political opinions seriously. You or others are welcome to find his opinion relevant. Now - that doesn't necessarily mean that I endorse Trump's economic vision/views for the US. I think his proposals for increased taxes in the form of higher tariffs to be an absolute disaster for the economy. This policy will be inflationary and slow economic growth. It is a tax - and it is a particularly bad tax for the economy. I also do not support lowering taxes - particularly for the more wealthy. And I don't like that he doesn't plan to do anything about the high cost of entitlement programs - like social security - which is close to falling off a cliff and wrecking the economy. I honestly didn't know much about Stiglitz before this, but he is very clearly not an idiot. That is why I asked you to more clearly explain your position. You did that and I appreciate it, so thank you. Others have already done a good job responding. I'll just add I find it curious you are holding fast to Larry Summers views, who has been constantly modifying his positions since he has been so completely wrong. Yes, there was a short period of high inflation, as there was around the world, but his recession never happened, and that was without the policies he favored to spike unemployment, which he felt were a necessary condition to avoid a recession. In the face of his having been so wrong, why do you laud him and call Stiglitz an idiot? My use of the word 'idiot' would be similar to one using this to describe Trump, or to describe Krugman. Clearly these people (Stiglitz) aren't idiots, but they can illicit beliefs that one can strongly oppose or disagree with. And I have prefaced 'idiot' with 'to me' or something like that - as in not literally an idiot or a consensus idiot, but a description of my dislike of his opinion here. I know you didn't say this - but to say that inflation is only 3.7% is totally missing the point of just how stinking high prices are today and why purchasing power for most American's have decreased. This isn't a short period of inflation - this is wrecking havoc on millions of people that cannot afford it. And pertinent to this election - it overshadows all other economic stuff going on and is a complete drag for Biden. I am not sure how we avoided a recession? In part, we have spent our way into reasonable growth (certainly not good/exciting growth). And/or - the Fed was and is slow in raising interest rates. They appear to have guided a soft landing by not going 'overboard' on raising interest rates. I would have been faster and harder in order to stamp out inflation and that probably would have pushed us into a short term recession, but instead - we still have way too inflation with a softer landing. Jobs/Unemployment are great - but with worse purchasing power. Maybe the right trade-off? Let us not ignore the damage done to our national debt.
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Post by aardvark on Jun 27, 2024 16:32:31 GMT -5
3.27%, not 3.7%. Honestly, you seem to have a huge blind spot here.
Did you read the Wikipedia entry on inflation I referenced above? You should.
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Post by joetrinsey on Jun 27, 2024 17:23:17 GMT -5
I greatly enjoyed The Price of Peace. Finally finished it earlier this year. ![](https://m.media-amazon.com/images/I/71zTEwGZKdL._AC_UF1000,1000_QL80_.jpg) Been in my audible queue so you just convinced me to grab it! Have you read Nixonland? That one sat in my queue for a while too. Didn’t think I needed another book about the 60s but it was really good. Author has a nice dry humor.
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