Trump V. Biden

FXX

Experienced member
1,264 258
The US federal government will not pay off its debts until a crisis comes along that is severe enough to threaten the government’s existence. When that situation happens, the government will pay down its debts through inflation. High inflation.
is this the same inflation that's been elusive since 2008 crisis. The FED have tried to stimulate without luck. Printing money hasn't resulted in the inflation everyone was worried about and this is repeated with other advanced economies. You can't just make inflation, they have been trying unsuccessfully.
 
  • Like
Reactions: Atilla

Pat494

Legendary member
14,622 1,578
Well today is THE day.
The bookies still have Biden ahead but his lead has slipped a bit.
Trump was a strong finisher, paying little respect to the facts as ever.
 

Pat494

Legendary member
14,622 1,578
If Trump loses we can be sure he won't go easily.
Probably have a tantrum and wet himself.
A gentleman would accept the result and congratulate the winner.
 
Last edited:

Pat494

Legendary member
14,622 1,578
The Democrats had an easy victory awaiting them IF they had picked a film star as a candidate instead of a boring old nobody.
 

J Livermore

Active member
149 48
is this the same inflation that's been elusive since 2008 crisis. The FED have tried to stimulate without luck. Printing money hasn't resulted in the inflation everyone was worried about and this is repeated with other advanced economies. You can't just make inflation, they have been trying unsuccessfully.
Are you trying to suggest that the US government can pay off 25 trillion plus dollars in debt by printing money and nothing bad will happen?
 

Pat494

Legendary member
14,622 1,578
The Democrats had an easy victory awaiting them IF they had picked a film star as a candidate instead of a boring old nobody.
Harrison Ford and others were ready to offer the Dems their help.
 

trendie

Legendary member
6,739 1,304
The Democrats had an easy victory awaiting them IF they had picked a film star as a candidate instead of a boring old nobody.
But isnt that a problem in itself.
Why does anyone think someone who is paid to pretend to be someone else knows anything about geo-politics, economic theory, or international diplomacy?

Be wary of film stars, cos I think Arnie is a Republican!
He has the charisma to beat pretty much any other film star, in terms of popularity.
 

Pat494

Legendary member
14,622 1,578
The film star could play it like Reagan, who knew not much about anything.
He did however know that there were others out there that knew a lot about their own speciality and employed them.
His job was to be a happy host and kind to the young. Big smiles, straight talking and consideration. Great. I would have voted for such a person.
 
  • Like
Reactions: trendie

trendie

Legendary member
6,739 1,304
Bit scary at the moment, if I read it right. (BBC website, US Election tab).
41 states done. Biden ahead 224 / 213.
9 states remaining.
Pennsylvania, 20 electoral college votes, likely Rep.
North Carolina, 15 EC votes, likely Rep.
Georgia, 16 EC, Rep.
Alaska, 3 EC, Rep.

Thats likely 54 to the Reps.

The 5, likely Dems:
Nevada, EC = 6,
Arizona, 11,
Wisconsin, 10,
Michigan, 16
Maine, 4.
Thats 47.

That would be Biden (224 + 47) = 271, / Trump (213 + 54) = 267.

Biden needs to carry at least one Rep state (other than Alaska), over to the Dems, otherwise its the horror show of recounts, and flim-flam from Trump.
 

Rufus_Leakey

Active member
218 95
Bit scary at the moment
...
Biden needs to carry at least one Rep state (other than Alaska), over to the Dems, otherwise its the horror show of recounts, and flim-flam from Trump.

What really matters is whether the Republicans can keep control of the U.S. Senate. At the moment, this seems likely, and that means socialist (aka progressive) policies would not become laws.
 

new_trader

Legendary member
6,664 1,489
Are you trying to suggest that the US government can pay off 25 trillion plus dollars in debt by printing money and nothing bad will happen?

This is basically what all Keynesian economists believe and it's why MMT is growing in popularity, especially among left leaning/Socialist Governments who believe in big deficits and big Government social programs who think prosperity can come from the Printing press. Also, for this reason, Governments have gradually changed the definition of Inflation over the years, and even the way inflation is calculated rendering the CPI a completely useless metric.

John Williams of Shadow stats addresses this issue.

 

J Livermore

Active member
149 48
This is basically what all Keynesian economists believe and it's why MMT is growing in popularity, especially among left leaning/Socialist Governments who believe in big deficits and big Government social programs who think prosperity can come from the Printing press. Also, for this reason, Governments have gradually changed the definition of Inflation over the years, and even the way inflation is calculated rendering the CPI a completely useless metric.

John Williams of Shadow stats addresses this issue.

I don’t know as much about the Federal Reserve as I probably should. However, I’ve heard from a variety of sources that since 1913 (the year the Fed was created) the US Dollar has lost over 92% of its purchasing power.

That’s sad because inflation hurts the poor more than the middle or upper classes.
 

new_trader

Legendary member
6,664 1,489
I don’t know as much about the Federal Reserve as I probably should. However, I’ve heard from a variety of sources that since 1913 (the year the Fed was created) the US Dollar has lost over 92% of its purchasing power.

That’s sad because inflation hurts the poor more than the middle or upper classes.

They use gold as the reference for that calculation since the USD was once backed by gold at approx $20.67/oz when the Fed was created in 1913. Gold is now approx USD $1941/oz.
A simple arithmetic calculation: 20.67/1941 = 0.01065 meaning the USD has lost about 98% of its purchasing power since the FED was created in 1913!
 
  • Like
Reactions: Atilla

Pat494

Legendary member
14,622 1,578
Don't forget that The Fed is not owned by the US state. It is privately owned by the rich and therefore suits them when possible. Not too much or they would be called to explain and changed.
Their voting system looks like a cobbled togethor mess from the past and in dire need of updating too.
 
 
AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock