Originally posted by: tom
I already answered the question
Sweden ended lockdowns sooner than anybody else & did better.
Sorry radish-boy, Sweden isn't a member of the G-7. Do you even know what the G-7 is? If not, please refrain from commenting.
And in any case, you still haven't been able to name one G-7 country that is doing better than the US.
G-7 or not - Sweden is not doing better than the US economy by any metric.
So now Tom loves the socialized medicine and electric car loving Swedes?
Sweden is running a government spending surplus. In contrast, the US borrowed $5200 in 2023 for every man, woman and child. This outlandish spending certainly stimulates our current economy IN THE SHORT RUN, yet it fucks our children, grandchildren and great grandchildren.
PJ, if I borrow $150,000 for a fancy car and ten nice trips, does that mean I'm doing great financially? That seems to be your argument.
Since when do you care about deficits? You're on record bragging about Trump's economy and how much better it was than Biden's. Not only does that fail the GDP and employment metrics....it fails your deficit metric too. Biden's lowered the deficit every year since Trump left office.
So - uh - looks like you're stuck with "Joe is old" or something.
Originally posted by: Boilerman
Sweden is running a government spending surplus. In contrast, the US borrowed $5200 in 2023 for every man, woman and child. This outlandish spending certainly stimulates our current economy IN THE SHORT RUN, yet it fucks our children, grandchildren and great grandchildren.
PJ, if I borrow $150,000 for a fancy car and ten nice trips, does that mean I'm doing great financially? That seems to be your argument.
Putting aside that Boilerman is now arguing on behalf of a government with a 50% plus (after deductions!) personal tax rate, he is engaging in what is known as the Government-Household Fallacy. Let's see what a Nobel Prize-winning economist has to say about it:
"This fallacy seems to stem from a false analogy to borrowing by individuals. Current reality is almost the exact opposite. Deficits add to the net disposable income of individuals, to the extent that government disbursements that constitute income to recipients exceed that abstracted from disposable income in taxes, fees, and other charges. This added purchasing power, when spent, provides markets for private production, inducing producers to invest in additional plant capacity, which will form part of the real heritage left to the future.
This is in addition to whatever public investment takes place in infrastructure, education, research, and the like. Larger deficits, sufficient to recycle savings out of a growing gross domestic product (GDP) in excess of what can be recycled by profit-seeking private investment, are not an economic sin but an economic necessity. Deficits in excess of a gap growing as a result of the maximum feasible growth in real output might indeed cause problems, but we are nowhere near that level.
Even the analogy itself is faulty. If General Motors, AT&T, and individual households had been required to balance their budgets in the manner being applied to the Federal government, there would be no corporate bonds, no mortgages, no bank loans, and many fewer automobiles, telephones, and houses."
The difference is that GM borrows money to fund business expansion such as a new plant or new product line. People get mortgages to buy a tangible asset (house).
The fed is borrowing money to pay for their daily operations. That and people using credit cards to buy groceries is the road to bankruptcy.
It warms my heart to see Tom and Boiler embrace Western European socialism.
Originally posted by: tom
The difference is that GM borrows money to fund business expansion such as a new plant or new product line. People get mortgages to buy a tangible asset (house).
The fed is borrowing money to pay for their daily operations. That and people using credit cards to buy groceries is the road to bankruptcy.
Borrowing less money than Trump...And the FED is now selling the assetts they bought under Trump with printed money so they could prop up his shitty economy. They dont have to do that anymore because the economy is on its own feet.
Sucks to be an America hater, doesn't it?
PJ just jumped right over my suggestion to consider employment participation rate. Address a couple of issues for me.
1. How many americans are working today vs pre covid Trump? PS, I gave you a link for this.
2. How many more people are living in the US since Sleepy has let 4,000,000 illegals in, and what does this do to the percentage of people living in America working. Notice that I didn't say Americans. The employment participation rate takes into account all living in America, and what percentage of these people are working.
3. Why it's good that we have 5,000,000 more people living here, yet 2,000,000 fewer people working?
4. Lots of free shit. Ask NY, Chicago, Detroit, Denver, and others about this free shit.
