The economy
- Thread starter Rastafarian
- Start date
The 3lb beef log at 19.99 is the base price. The 3 lb pack at 12 was on sale.
It seems that trump has put Europe in a position where this is forced preservation.
"The disconnect between futures — which are underpinned by hundreds of billions of dollars of daily transactions — and physical oil is partly due to aggressive US attempts to keep a lid on prices, including through releasing emergency supplies. The reality is that the global economy is suffering from a bigger inflationary hit than futures suggest, something that’s piling pressure on central bankers and the Trump administration before the November midterm elections"
"Refiners in Asia, the top consuming region, are buying cargoes from thousands of miles away at eye-watering premiums to Brent as they try and secure whatever supplies are available. Trucking companies are starting to feel the impact of higher fuel costs and some parts of the world are crimping purchases of fuels that power ships. With jet fuel prices above $200 a barrel, major European airlines say passengers will have to bear the extra costs".
"Refiners in Asia, the top consuming region, are buying cargoes from thousands of miles away at eye-watering premiums to Brent as they try and secure whatever supplies are available. Trucking companies are starting to feel the impact of higher fuel costs and some parts of the world are crimping purchases of fuels that power ships. With jet fuel prices above $200 a barrel, major European airlines say passengers will have to bear the extra costs".
Again, the statement was that nobody can win under this administration other than billionaires. That’s what I was replying to. We’re doing great. We’re not billionaires or anywhere close.
Now the debt is a separate matter and a total bipartisan **** up. Dems push more spending and more entitlements. Republicans don’t do enough to reduce spending when they have control. There are no forward-thinking proposals for reducing major entitlement dependency and expense. Some quick ideas:
— We have to solve for healthcare costs. Medicaid and Medicare are 1/4 of the federal budget. The good news is there emerging capabilities with AI and robotics that can potentially finally bend the cost curve in medicine. Trump seems to be more serious than most about addressing prescription drug prices as well.
— We should aggressively attack the obesity epidemic in the US. 42% of people in the US are obese. That’s top 10 worst in the world. Most peer European countries are 15-23%. This means more chronic conditions, more hypertension, more heart surgeries, more joint replacements, more diabetes, etc etc. This materially increases Medicare and Medicaid costs above what they should be at more normal BMI levels. (Hint: body positivity movements aren’t the answer.)
— We need to somehow force personal retirement savings to ween people off the dependence on SS. Then begin tapering down SS benefits over time. The idea that you hand the government a ton of money over your career in exchange for a low-ROI retirement income is a really dumb one to begin with. Now this may take decades and a generation or two to fully implement, but it has to be done for our long-term financial benefit.
Anyways, yes, I think the debt is a major issue. But it’s not related to the original post I replied to nor is it a uniquely Trump problem.
Okay. So we’ve gone from billionaires (the post I replied to) to high wage earners (your most recent goal post location).
Is the interchangeability of these income and wealth levels something the left works on in private? Because it would explain the absurdity of some of the tax messaging vs tax proposals coming from the Dems.
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Ah I see you can’t argue the point I’m talking about.
What tax proposals does the right offer that you think will solve our country’s issues today and in the future?
See my post above to Rasta. I’m interested in reducing spending, not taking more money from hard-working American families.
Nothing about those ideas is tangible to today or any time in the future.
You know what makes people healthier over time? Being able to afford going to a doctor. With the vote you made, less people will be able to do that over the next ten years.
Forcing personal retirement savings? How are you going to do that when 60 percent of the country are living paycheck to paycheck?
This is me exactly. I have a 401K that I have been maxing out for 25+ years. It is sitting there in a very nice place. I bought my home in 2005 for $350K, it is paid off and was assessed at $750K for tax purposes. So with my house and 401K alone I am a millionaire.
Do I have that money to spend on cars, clothes, private schools, vacations etc. I do not. I turn 58 in May. People think that if you are a "millionaire" you can retire no problem.
If I retire at 58, that is 7 years of health care insurance I have to cover for my wife (same age as me) and my 13 year old daughter. I have researched health care extensively for retirement (through my current company, through independents and through the echanges). Medical alone is $3K a month and doesn't include dental or vision.
Bottom line is there are probably a bunch of "millionaires" just like me that still need to work for many more years. Taxing me more would not only hurt now, but it would require me to work even longer than 65 possibly.
I would guess that while you are doing great, it’s not as well as it was 18 mos ago. What would give you confidence this admin has us (and you in your bubble) headed in the right direction?
also, please let me know who the last republican president was to reduce spending. Clinton has done that more recently than any Republican president. We need to stop pretending that republicans are the party of fiscal responsibility because they haven’t been for a long time.
Are we #WINNING?
75 straight months of job growth under Obama.
48 straight months under Biden.
That’s stability. That’s leadership.
Then comes Trump
and suddenly job growth flatlines and we’re losing 92,000 jobs in a single month.
Stop pretending this is normal.
Stop pretending this is “winning.”
This is what happens when incompetence runs the economy.
When will MAGAs finally wake up.
75 straight months of job growth under Obama.
48 straight months under Biden.
That’s stability. That’s leadership.
Then comes Trump
and suddenly job growth flatlines and we’re losing 92,000 jobs in a single month.
Stop pretending this is normal.
Stop pretending this is “winning.”
This is what happens when incompetence runs the economy.
When will MAGAs finally wake up.
We currently are trapped in a back and forth battle between 2 extreme political parties who seem intent to see how much of the national treasury they can grab through any means possible when the hen house doors are open. The existence of a viable conservative party existing in the US today is a figment of imagination.
The argument that fiat currencies fail due to democratic pressure for government spending is a cornerstone of "sound money" theory, suggesting that governments, driven by electoral demand, overspend and print money, resulting in devaluation, inflation, and eventual loss of public confidence. This cycle often leads to long-term purchasing power loss.
Ludwig von Mises (1881-1973) was the most celebrated advocate of capitalism, and critic of socialism, of his time. Interesting that he was born in Lviv Ukraine.
The culmination of his life's work is Human Action, A Treatise on Economics.. FWIW, I believe this work copywright 1949 with a third revised edition in 1966 and a subsequent 4th edition to be the most comprehensive work I know of in explaining the forces that have driven capitalism in the past, drive it today and will continue to do so in the future.
mises.org
The culmination of his life's work is Human Action, A Treatise on Economics.. FWIW, I believe this work copywright 1949 with a third revised edition in 1966 and a subsequent 4th edition to be the most comprehensive work I know of in explaining the forces that have driven capitalism in the past, drive it today and will continue to do so in the future.
The Inevitable Decline of Developed Nations’ Fiat Money | Mises Institute
We are living through a historical monetary change. The first nation to adopt sound money and fiscal policies will win. The rest will lose.
mises.org
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Going to the doctor makes the majority healthier? Not personal diet & lifestyle choices?
Doctor = bandaid.
It’s more about preventative care, and people avoiding visiting the doctor unless it’s for emergencies. Definitely personal diet and better lifestyle choices will help lead to better overall health, but making it easier/cheaper to visit the doctor will also help. At least at it pertains to catching Things earlier
Human Action: A Treatise on Economics by Ludwig von Mises is a comprehensive defense of free-market economics, structured around the philosophy of praxeology (the study of human action). Its seven parts cover the principles of action, social cooperation, economic calculation, market dynamics, socialism, interventionism, and the role of economics in society.
The Library of Economics and Liberty +3
Part 1: Human Action
Part 2: Action Within the Framework of Society
Part 3: Economic Calculation
Part 1: Human Action
- I. Acting Man
- II. The Epistemological Problems of the Sciences of Human Action
- III. Economics and the Revolt Against Reason
- IV. A First Analysis of the Category of Action
- V. Time
- VI. Uncertainty
- VII. Action Within the World
Part 2: Action Within the Framework of Society
- VIII. Human Society
- IX. The Role of Ideas
- X. Exchange Within Society
Part 3: Economic Calculation
- XI. Valuation Without Calculation
- XII. The Sphere of Economic Calculation
- XIII. Monetary Calculation as a Tool of Action
Liberal job growth is a combination of illegals taking American citizens jobs, expanding govt jobs and then finally judging the numbers.
This liberal had a much higher home value and all my investments were doing a hell of a lot better under that system. I'd gladly go back to it.
Bruh listen to yourself this is literally insane talk
. Trump would think you need asylum and not the immigrant kindIs there something in the new ON3 platform that changes the words I type when posting a message? So many times in this thread someone argues with me against a point I did not make. It’s wild. I never said anything about republicans reducing spending and being fiscally responsible. I specifically said they haven’t done well there. I gave up on them in 2017. Both parties are terrible, which is why I don’t want either of them to have any more of my money or any more power. Not sure why anyone wants to give them more of either.
Since you work in AI you should understand the concept of reasoning. People don’t just reply to your messages in a thread but your overall posting history. Sure, that gets distorted because no one has a perfect memory - and I’ll own up to not acknowledging your comment about republicans not being fiscally conservative - but your complaints about Dems must outnumber your complaints about republicans by at least 100 to 1.
Regardless there is no point in bickering about that. We both want billionaires and corporations to pay their fair share. We want able bodied people to make their best effort at supporting themselves. We want the govt to be responsible with our money and not continue this reckless spending.
couple of things I take away.. the top 1% looks to higher by 5-6%, the next 9 is about the same, the bottom 1 % about the same, but its the "next 40% that has taken the biggest hit. that's :You can make this point without the hyperbole.
That said, is it true? This graph would indicate otherwise. Top 1% and 9% trending down since 2018 or so. Bottom 50% trending up (albeit still a small share). 50%-90% group up since 2018.
For US households, the 50th to 90th percentile wealth range—roughly the upper middle class—spans from approximately
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I believe liberals and conservatives had higher
rastafarian, here's where your thought gets a little wonky. We all want billionaires to pay their fair share...true.
But here's the thing, our tax system, just like everyone on the world taxes income. So, how many Americans earn $1 billion/year? One, none? If I recall someone who leans left on here defined fair share as the billionaire paying a higher marginal rate than his secretary. Ok that's fine. But how many don't? The only one who has come forward was Warren buffet who's salary is $100,000/year. Do you know of any other?
Now, I understand that you want to get at the billionaire net worth, let's see how the proposed law in California makes out.
Ned - it’s well known that musk Zuck Bezos thiel pay an effective tax rate below 10%.
I don’t think a wealth tax is the answer either. But the one in CA isn’t coming from Dems. It’s coming from a health care org that got enough signatures to put it on the ballot.
don't know the effective rate for those you mentioned. But, isn't that based on their income? that's my point. No one of them is making $1 billion a year, if they were they wouldn't be paying a 10% marginal rate.
Look, I'm not against billionaires paying more in taxes. But you don't get there through an income tax - which I believe you agree with. So, the only way is through a wealth tax...and so far, that hasn't worked anyplace it has been used.
I hope I didn't give the impression that dems were driving the wealth tax. If I did, I didn't mean to. My point there as well, at least in my mind, was if a wealth tax is imposed, it might be a window into what might happen if enacted in the US (although a national law might be a little harder to avoid). If I extrapolate what the NY governor is experiencing there just with high tax rates, I'd expect similar results if states enact wealth taxes. California seems to already be losing some of their ultra wealthy residents just on the possibility of a wealth tax.
We do need to find a way to increase revenues (and reduce spending) as these $2trillion annual deficits are just not sustainable
Stock market just ripped 3% on Trumps tweet. Going to be in for a volatile week.
Supposedly Iran came to the negotiating table when Trump threatened to take out their power plants. He paused the strikes for 5 days, conveniently until next weekend when the market is closed again.
Buckle up.
Supposedly Iran came to the negotiating table when Trump threatened to take out their power plants. He paused the strikes for 5 days, conveniently until next weekend when the market is closed again.
Buckle up.
Glad I covered my mnq June short last night before London open. I had a hunch trump would be on Twitter lol
The only response from Iran so far is that trump backed down due to their threats
Don't see the volatility stopping anytime soon. If anything, the can was kicked down the road. Iran already denying there were talks, which is probably true, i doubt there were talks. Trump just wanted to juice the market this morning as it was very weak pre-open. He probably blew some people out with that tweet,
Then Iran came out and said nothing of the sort happened. I'm so damn tired of this market manipulation from all these state actors.