New politics thread

[Jon Miller]

The problem is we're at peacetime. What happens when the US faces a major external threat? Where is the money going to come from? The US debt burden is the same as it was during 1946. This is not a great situation to be in.

The pandemic is a major semi-external threat.

JM

[Ben Kenobi]

Japan is now over 220% (the US is 130% or so). Japan is not experiencing hyper-inflation, or even inflation at the levels that most economists think they need.

As I said, debt does not produce inflationary effects. Debt produces deflationary effects until the government starts to increase the money supply. Given Japan's society and their naturally deflationary economy, it makes sense that we're not seeing inflation.

The problem arises when the repayments cannot be made. Either the government holds the line or starts printing. We are not there yet, but that's only due to historically low interest rates.

[Jon Miller]

I think Biden will end up increasing the tax rate a bit, or at least will try. This will help reduce things. I Think it would be a good achievement if he can end his time at 130%.

JM

[Dinner]

I think Biden wants to increase taxes more than a bit.

[Egbert]

There are gigantic debts to pay.

[Dauphin]

The Wray guy was appointed by Trump IIRC. But then Trump-appointed AG Barr, and Trump-appointed Supreme Court Judges also look su****iously Antifa to me. Similar to the whole Covid thing.

Is suspiciously censored? Holy S****horpe!

[BeBMan]

hehe, didn't notice earlier

[Dauphin]

Yet the cockwombles aren't.

[Dauphin]

Suspiciously and inconspicuosly censoring is not perspicious, but instead despicably auspicious in its spiciness

[Buster Crabbe's Uncle]

Should be fixed now.

[Kidlicious]

I think Biden will end up increasing the tax rate a bit, or at least will try. This will help reduce things. I Think it would be a good achievement if he can end his time at 130%.

JM

That can actually increase the inflation rate. If that hurts the economy further we could be looking at disaster. Again, the pandemic (it's not actually a pandemic) isn't an excuse. You have to not cause a much bigger problem.

[Kidlicious]

During the 70s real wages decreased after taxes. Nominal wages increased, but purchasing power decreased because of inflation, and tax burdens increased because they all ended up in higher tax brackets. That's how the government collected taxes to pay for spending. It might look good on paper when you look at the trees instead of the forest, but it was a disaster.

[Kidlicious]

Carter was the best thing that ever happened to the Republican Party though.

[Egbert]

Carter was the best thing that ever happened to the Republican Party though.

I like Jimmy Carter.

Good bloke.

[Proteus_MST]

The Biden administration now has its first huge scandal ... at least as huge as Obamas jacket scandal of 2014, if not even bigger.

On Reading Tuesday, Biden gave a speech ... and he didn't mention Dr. Seuss
That surely is Cancel-Culture in action

https://www.vox.com/2021/3/2/2230917...fox-news-biden

Biden surely will get executed over this, when QAnon stages its coup today and reinstalls Trump as their beloved Fuehrer

[Kidlicious]

The Biden administration now has its first huge scandal ... at least as huge as Obamas jacket scandal of 2014, if not even bigger.

On Reading Tuesday, Biden gave a speech ... and he didn't mention Dr. Seuss
That surely is Cancel-Culture in action

https://www.vox.com/2021/3/2/2230917...fox-news-biden

Biden surely will get executed over this, when QAnon stages its coup today and reinstalls Trump as their beloved Fuehrer

Do you like cancel culture propaganda?