Comments by "Grim Affiliations" (@grimaffiliations3671) on ""Americans Can't Stop Spending" - Why is Consumer Confidence So High?" video.

  1. Raising interest rates also just means older Americans get a lot of stimulus from all those extra interest payments. Personal interest income went up 120 billion this year
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  2. Because employment is so high. This is the longest stretch in US history with unemployment below 4%
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  3.  @funkspinna  most of the increase in the deficit is going toward a stimulus for already rich people through the interest payments
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  4. all the extra sales we're seeing have been adjusted for inflation
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  5. If more spending leads to near 5% growth count me in! Much better than low government spending and a slow economy like we saw during the 2010's
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  6. how do you even measure that?
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  7. Median real wealth rose a record 37% since 2019, unemployment near record lows, a record 1 in 7 families now having a small business, and wealth inequality is at the lowest level since 2008. Looks like Bidenomics is the real deal
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  8. The house of cards is fine. If covid didn't cause the collapse nothing will. Thanks to fiat the government can always bail the private sector out
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  9.  @vandogg14  No, our money is backed by taxes and the US credit rating is based on the fact that it literally can't run out of money. When a soverign nation has all of it's debt priced in it's own currency, it can never miss a payment. You're free to bet on a monetarily soverign nation to default, but you'll lose all your money. Just ask the people who've been betting against japan over the past few decades, they lost everything. Forget weed, check out a book called The Deficit Myth if you want your mind really blown
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  10.  @zachslump5844  all these extra sales are adjusted for inflation
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  11.  @WineHouse33  they're like that all the time, so what exactly do you agree with them on?
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  12. skilled trades work is in high demand because of the climate retards, not despite them. Electricians have never been in higher demand
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  13.  @juice_man4439  i didnt doubt their methodology during the last admin, so it'd be disingenous of me to do it now
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  14.  @funkspinna  i was talking about current increases in the deficit
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  15.  @lovly2cu725  It's not his job. His job is to make whatever payments congress appropriates
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  16.  @randal3122  Nonsense, we're seeing ridiculous growth, and abooming jobs market thanks to that government spending. Inflatoin has only been falling for the past year. The government shouls spend as much as is necessary to maintain full employment, and we'e clearly seeing that we were spending too little in the past.
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  17.  @randal3122  I'm very obviously right. There is no reason the government should be frugal in it's spending when we've seen for decades that only delivers aniemic growth, painful unemployment and overall misery. The government can and should support demand and pursue policies that further our full employment goals. Not doing so is unnecessarily living below our means
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  18.  @randal3122  The misery was caused by supply collapsing from the pandemic. And they responded a lot better after this down turn than the one in 08, how? With bold fiscal policy. Thanks to the bold spending we got the quickest recovery in US history instead of the slow painful one in the 2010's. So much sufering averted. Not only was it large enough to get us back to pre pandemic levels in a host of metrics, it actually got us back to pre-2008 levels. Growth through the roof, investment high and unemployment near record lows. If the spending was the main culprit for the inflation, we would have seen less inflation in countries that spent much less money, we didn't. The US has been doing far better on the inflation front. By the way i didn't say the government should spend whatever it feels like, i said it should spend whatever is necessary to maintain full employment. I don't know if you've noticed, but The private sector relies on goverment deficits to stay afloat. It's literally impossible for the US to balance it's budget without plunging the economy into recession, Bill clinton found that out the hard way
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  19.  @nunyabizness6662  Yes, Obama didn't spend anywhere near the amount he needed to inorder to support demand and it led to a lost decade for our economy.
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  20.  @randal3122  It makes a lot of sense to compare the two because the fiscal response was so different and bore such different results. The jobs that were lost during COVID absolutely didn't need to come back as quickly as they did. Had Biden not learned from his time as VP and Obama opted for a lacklustre stimulus, we would be suffering during the recovery for as long as we did after 2008. And like I said, if money printing were the primary cause, we would have seen significantly less inflation in countries that spent less money. The main cause of the inflation were the supply bottlenecks caused by the pandemic, as well as its many variants. There were other slightly smaller causes too, such as the oil and wheat price shocks associated with the war in Ukraine and the massive collective markups we saw in a lot of corporate prices. The fact that you're so casually throwing around words like hyperinflation kind of leads me to believe you have no idea what that is. We spent $5 trillion in one year, and we didn't even hit double-digit inflation annually; hyperinflation is 50% increases monthly. And we're already back down to the 3% range. Spending enough to support full employment brings us nowhere near hyperinflation. In fact, prices outside of rent have only grown by 1% over the past year, and that's despite near-record employment and almost 5% growth. It's obvious that we made the right call by going bold with the stimulus.
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  21. growth is inflation adjusted
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  22. spending power is up since the pandemic
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  23.  @Duude125  i live in the data. And it's pretty clear that real wages are up
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  24.  @oldscratch3535  wages have outsripprd supply
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  25.  @AChillin01R  govenrment bond interest
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  26.  @fatal9998  The share of workers earning minimum wage is actually the lowest it's been in a long time, inequality is the lowest it's been since 2008, median real wealth rose a record 37% since 2019, a record 1 in 7 families now having a small business, and wages have actually gone up faster than inflation
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  27.  @adamburwell4081  Nah, the bottom 20% have actually seen considerebly more wage growth than the top 50%. Ineqaility has fallen sharply since Biden got in
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  28.  @b.robles1823  Those are mainly old people, prime age workforce participation is all time highes
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  29.  @AChillin01R  just pointing out the data, wasn't an opinion
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  30.  @b.robles1823  Like i said, prime age workforce participation is at all time highes. And real wages are up since the pandemic
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  31. 4.9% growth
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  32.  @davewestly307  because it doesn't comport with your fee-fee's?
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  33. thanks to government spending. Demand was crazy low in the 2010's due to inadequate spending
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  34. Bottom line is people spend because they can. These extremely high employment rates as well as the fact that median real wealth rose a record 37% since 2019, a record 1 in 7 families now having a small business, and wealth inequality is at the lowest level since 2008 are why people are spending. Clearly the current hit
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