Comments by "Grim Affiliations" (@grimaffiliations3671) on "Michael Bordenaro" channel.

  1. Malls aren't a thing anymore, everyone shops online. They should turn them into housing to address the housing shortage
    85
  2. They're finally ending single family mandates here in MA. This should massively increase housing supply which will increase affordability. No more government meddling with our property rights
    42
  3. To be honest these CEOs have been making stark predictions for the past 4 years. Anyone listening to their predictions has missed out on a fortune
    30
  4. why would they not have jobs?
    28
  5. do you have a concrete date for when everything is supposed to implode? Or do you just like sounding like you know any more than the next guy?
    22
  6. same thing
    22
  7. honestly looks way better than i thought it would
    18
  8. very naïve to blame every bad thing on one party
    18
  9.  @phaedrus2633  paying taxes doesn't mean you don't have property rights. It just means you're paying to have your claim on that property recognized and protected by the state. You might say that you can protect it on your own, but even then, legally using violence to protect it is only allowed because of the states recognition of your ownership of that property
    14
  10.  @dalestoltzfus6166  Yes because without taxes, the dollar is pretty worthless. To create demand for your currency, you must force people to pay a tribute in that currency. This is what the British did in Africa. The africans weren't interested in working for british currency so the British created a "hut tax" that could only be paid in british currency. Only then did their currency become valuable. This can also be seen with Japanese invasion money, which lost all value after the Japanese stopped collecting it in taxes from conquered countries
    12
  11. Don't HOA's apply to single family homes too?
    10
  12. no other country has property taxes? ahhahaha you've clearly never left america kid
    10
  13. What people don't get about the economy is that the 3 sectors of the economy (private sector, public sector and foreign sector) can't all be in surplus. The only way for the private sector to run a surplus (which it needs to do to stay out of recession) is to draw that surplus from one of the other sectors. And since it can't draw the surplus from the foreign sector because of our trade deficit, it must draw it from the government. So until we get rid of our trade deficit (which can't happen unless the US loses it's reserve currency status) the private sector will rely on government deficits to stay afloat and calling for a "balanced budget" is basically calling for a recession
    9
  14.  @PhuQuocTranIV  only way to stop wealth inequality is to tax wealth
    8
  15. They're not saying its your feelings, they're saying just because the economy is bad for you doesn't mean its a bad economy
    8
  16. only way out is more supply
    7
  17. cant get depressions in a fiat system
    7
  18. almost like we've been lied to about a looming collapse by grifters
    7
  19. need land value taxes
    7
  20. So prices of homes, groceries and gas are coming down while growth and unemployment are still in good shape? Seems like good news to me
    7
  21. Depressions don't happen in the fiat system because the government can always bail out the economy when things get bad. They don't need a gold stockpile to do so
    7
  22. union strong
    6
  23.  @gregorysagegreene  voting didn't cause covid, supply chain bottlenecks or price gouging
    6
  24. why would the insurance companies want to end private car ownership?
    6
  25. is that why republicans keep trying to raise the retirement age?
    6
  26. @CMBBmc-jd6ur no they're up because of limited supply, so all the new inventory will be great
    6
  27.  @katydid2877  look at vacancy rates though, that tells you housing supply is incredibly limited. Thousands of homes won't cut it when millions are looking for jobs. We need to get rid of all these strict zoning laws
    6
  28. there definitely is a housing shortage, this is evidenced by the vacancy rates
    5
  29. thats why we need a land value tax. it'll take away most of the value of your house but it would lower taxes and get corporate speculators out of the market
    5
  30. many businesses are also forming
    5
  31.  @DonalldArmentor  Gold backed currencies are even worse, they're not alive at all
    5
  32. need mroe supply
    5
  33. not according to the fbi data, it's been coming down since 2020
    5
  34. ​ @bunnspecial  Taxes don't increase, but there are more people to pay the taxes and that helps the finances of your local government. Allowing multifamily housing is the financially conservative thing to do. It also reduces prices for single family homes by absorbing housing demand. But even if it didn't have any of those benefits, i'm fundamentally against the government telling a property owner what kind of housing they can build on their land
    5
  35.  @funzario144  The US was a prosperous country 4 years ago? You should probably stick to talking about germany, because you obviously have no clue what was happening abroad
    5
  36. thats why we need a land value tax. it'll take away most of the value of your house but it would lower taxes and get corporate speculators out of the market
    5
  37. we certainly will be if he gets elected and moves forward with his tariff plan
    4
  38. state will fall apart like it did in kansas
    4
  39.  @reaccionapr  Do you have a ball park, Something you can actually be held accountable for missing? Because people have just been moving the goal posts for the past 4 years when their bold prophetic wise doom predictions amounted to nothing
    4
  40. thats a good thing. If regular people have to pay unrealized gains taxes on their homes, why shouldn't bill gates have to pay unrealized gains on all his stock? It would only apply to people with 100 mill in assets
    4
  41. it looked ay better than i was expecting. I was expecting the walking dead
    4
  42. Bingo. This guy doesn't even know they were priced in
    4
  43. Most households in the US own their home, have a retirement account, are employed, and are seeing their wages grow around 5% nominal. That's enough income growth to keep the cycle going driven by spending at current rates
    4
  44. this is why i appreciate Harris' plan to allow medicare to cover in home care
    4
  45. like 10 of the last recessions we've had have come under republicans
    4
  46. corporations can do what they like
    4
  47. aren't household net worths at like all time records?
    4
  48. its because the government artificially limits housing supply with all these single family home only mandates. In Austin where they got rid of the red tape, theres a housing boom and rent prices are coming down a lot. I was offered a 300 bucks reduction. Landlords hate competing
    4
  49. if taxation is theft then so if private property
    4
  50. Future generations wont pay anything off. Learn how government finance works
    4
  51. more like stopping for fuel
    3
  52. ​This claim that the "next generation will foot the bill" is nonsense. It relies on the idea that taxes will have to go up in the future to pay for the national debt, but that's completely wrong for two main reasons. The first one being, the debt isn't paid for by taxes, it's paid for by simply rolling over any bonds that come due. The government rolled over 120 TRILLION dollars worth of bonds in 2021 alone. That's trillion with a T. The idea that taxes could ever cover that amount in silly. They can do this forever because they control the currency our debt is denominated in. The other reason it's nonsense is the main reason, and it's because taxes don't pay for anything the federal government does. They're debited out of existence at the IRS. The money we're using to pay taxes comes from the government in the first place, so our taxes don't give them new money, they just cancel out what they've already spent. You can test this out yourself, the next time you pay federal taxes, do it in cash at a physical IRS location. They'll literally put your tax money in a shredder
    3
  53.  @LockedUpLarry  There was certainly a housing crisis before 2020, we've been underbuilding for years thanks to single family mandates
    3
  54. Cities and suburbs need to legalise apartments and town houses to lower these ridiculous demand levels
    3
  55.  @francismarion6400  tax cuts reduce revenue
    3
  56.  @BonoboMonkey  still less inflationary than a 20% tariff on all goods which is what trump is proposing
    3
  57.  @katydid2877  depends on where the house is. From a population perspective we've definitely underbuilt a lot after homebuilders were wiped out by the last big crash
    3
  58. nah, the chatter indicates that inflation will come in at 0% for the second time in a row this month. That happens and they'll definitely cut in september
    3
  59. this is a golden age for blue color work. It won't be long before most white collar jobs are done by ai
    3
  60. Some socialism would be quite nice, these corporations are getting too powerful
    3
  61. Interesting that people are talking about a depression with unemployment at 4% and growth estimated at close to 3% for the quarter
    3
  62.  @prd004.2  This is why i never understood why people are apposed to universal healthcare because they don't want to pay for other peoples healthcare but are ok paying insurance premiums, which is to cover other peoples healthcare. And your deductibles are tied to your premiums, so if you want to pay less for other people, you have to pay more upfront.
    3
  63. and now he wants a 20% tariff on all goods. Dude's economically illiterate
    3
  64. im not rich and i certainly aint voting for trumps inflationary tariffs. Im tired of inflation
    3
  65. The FED is ahead of the curve for once
    3
  66. a meme of doing that impossible and achieving a soft landing
    3
  67.  @AverageJoeDividends  violent crime and robberies, national level
    3
  68. pretty much all ev's are cheap thanks to battery prices coming down so much. Getting one was a no brainer for me
    3
  69. blue all the way
    3
  70. where do they charge fishing and hunting tax? also you must be pretty rich to be worrying about inherence taxes
    3
  71. corporate propoganda
    3
  72.  @Ziegfried82  Fun fact, the federal government doesn't actually use our taxes. They're debited out of existence as soon as we pay them. And if you decide to pay in cash, that cash loses all value as soon as you pay so they throw your tax money in a shredder. Because the government spent the money into circulation in the first place, so paying your taxes doesn't give them new money, it just cancels out what they already spent
    3
  73. blame the right wing supreme court
    3
  74. is it extending, or were you just wrong about the recession?
    3
  75. thats been a thing for a while, but bulls have made a fortune at the expense of the bears in that time
    3
  76. high rates hurt housing inventory, so this will lower jousing prices
    3
  77. it has always been the rate of increase in prices
    3
  78.  @katydid2877  More apartments means less demand for single family homes. And personally i don't think anyone should have the right to tell you what kind of housing you can build on your on land. Property rights matter
    3
  79. is it worthless if you can use it for shelter?
    3
  80. that's what happens when you defund education to lower peoples taxes. Lower taxes always come with a cost
    2
  81. lol
    2
  82. 3% growth, 4% unemployment, 2.9% inflation. "Imploding economy"
    2
  83.  @joedestefano3088  inflation isn't at 20% for everyday items, you pulled that out of your rear. People aren't falling off the unemployment numbers, take a look at the unemployment to population ratio. Credit card debt as a share of disposable income is where it was pre-pandemic
    2
  84. it should be normal. Interest rates should be 0% forever, and the govenrment should handle inflation with fiscal policy
    2
  85. Cutting spending is bad for the private sector. Government deficits = private sector surpluses
    2
  86.  @francismarion6400  yeah but cutting taxes immediately increases the deficit. That's a simple fact. I dont necessarily have a problem with adding to the deficit as long as it doesnt cause inflation, but it's still objectively what happens
    2
  87. You'd expect people to max out rhir credit cards before they get to theappoint, which they haven't been doing ,
    2
  88.  @theboringchannel2027  Eurozone countries do not control their own currencies, hence they have no control over their reinterest rates and can actually become insolvent. The US is in a different boat
    2
  89.  @theboringchannel2027  No because individual countries control their own currencies while EU member states do not. The Euro is controlled by the European Central Bank
    2
  90. They should cut rates in the next meeting
    2
  91. it hasn't been this strong in decades
    2
  92. blame the nimbys for the homeless problem
    2
  93. many places dont even allow starter homes
    2
  94. Turns out old joe isn't lying about a booming economy
    2
  95. But hey, at least he's fighting woke!
    2
  96.  @davidhunternyc1  housing situation is a big one
    2
  97.  @HarrisonCountyStudio  inflation isn't the price level, its the rate of price increase. Grocery price inflaiton is way down. You're not losing 2-3% of your purchasing power because wages tend to grow faster than 2-3% every year
    2
  98. or just get rid of property taxes and replace them with a land value taxes. That way you only pay according to the value gains implemented by the community around you. No more speculation, no more idle parking lots on prime land, no more super high taxes for people in rural areas or people use their land efficiently
    2
  99.  @cautiousoptimist1926  no it wasn't. Lowering them is a good thing, and its clearly not all that inflationary since we had a decade of interest rates at 0 with no resulting inflation
    2
  100.  @BillySBC  That was clearly a supply issue due to the bubble bursting. Nothing to do with rates, if anything low rates keep mortgages down which help with affordability. We struggled to get inflation up to 2% throughout the 2010's despite zirp and massive qe
    2
  101. the government isn't like you, they make the money. Their "debt" is our savings and assets
    2
  102. thats why we should have a land value tax. You get taxed based on the value of your land, not the house. It will take away most of the value of your house but you'll pay less taxes and home ownership would be back on the table for most people. Speculators and corporate investors would be forced out of the market
    2
  103. that isn't the definition of a recession in the US. And government spending = private sector wealth. So there's nothing unusual about using government spending to ward off a recession
    2
  104.  @esteban1487  what counts as socialist depends on your answer though
    2
  105.  @esteban1487  socialism is an umbrella term, and their are many types
    2
  106.  @queserasera1674  Medicare is now allowed to negotiate down drug prices thanks to dems in 2022. Insulin is now capped at 2k for people on medicare thanks to dems in 2022. I have no reason to doubt they will allow medicare to cover in home healthcare if they win this year
    2
  107. "sound" money = depression
    2
  108. why? The governments deficit is our surplus. So getting them to balance their budget means taking money out of your own pocket
    2
  109. lay offs are low. They just need to start hiring
    2
  110. 😁😅😅
    2
  111. assuming he finally gets a prediction right
    2
  112. The system will always function, because they government has all of it's debt in its own currency. This means they have full control of their interest rates and thus, the debt is sustainable. Also, money is not supposed to be a store of value, it's supposed to be a means of exchange. People with money will use it to buy assets, and that's where their wealth comes from
    2
  113.  @Ziegfried82  No, the debt based system is far superior to a gold based system because it's a lot more flexible. Demand for money explodes during downturns, and the government needs to be able to inject that money into the system to support that demand, otherwise a recession will turn into a depression. Average citizens do not like depressions
    2
  114.  @RafaelPerez-b9n  Growing debt doesn't lead to inflation. Our debt is many times larger than it was in 1980 but inflation is many times lower. Crashes and depressions were way more common in the gold standard precisely because money supply was so inflexible. We had four recessions every decade on the gold standard, that seems like the very definition of irresponsibility
    2
  115. jobless claims just came in lower than expected, cuts are working fast
    2
  116. yeah trump promised to cut energy prices in half not realizing that would bankrupt the energy industry
    2
  117.  @deardra5619  now imagine how much things will cost if trump puts a tarrif on all goods
    2
  118. They're not getting forced to make EV's, they're doing it because they know it's the future. Chine is coming hard for all internal combustion engine vehicles
    2
  119.  @francismarion6400  poor people do contribute a lot, and they actually contribute a much larger share of what they earn than wealthy elites do
    2
  120. these are false statements. I bought gas for 2.70 yesterday
    2
  121. didn't it already uninvert again recently?
    2
  122.  @kilnmaster  thats why i like Harris' unrealized tax plan. If the average person needs to pay unrealized gains taxes, then bill gates should have to do it too
    2
  123. there's a huge shortage what do you mean?
    2
  124. maybe these doom and gloom channels are lying to you?
    2
  125. yeah because big corporations would prefer the guy trying to raise their taxes over the guy who gave them the biggest tax cut in decades
    2
  126. because the government owes in a currency it creates out of thin air, so it can never default. You are a currency user, they are a currency issuer
    2
  127. then why has inflation fallen so much since 2022? Why do we currently have deflation in many categories?
    2
  128. then why lower prices?
    2
  129.  @winniethepoohandeeyore2  Until then you're just gonna have to deal with people sadly
    2
  130.  @fredk9999  your line of credit would be cut off if you weren't good for it
    2
  131. yes and no. They can print whatever they need, but you still need to pay taxes because taxes give value to the currency
    2
  132.  @Bennysol  No. It only seems that way because you've been lied to your whole life. Taxes do not pay for the federal governments spending. The money you use to pay taxes was spent into the economy by the government in the first place, so when you pay the tax, it doesn't give the government new money. It simply cancels out what they already spent
    2
  133. victim mentality
    2
  134.  @francismarion6400  nah we have property taxes, land value taxes are lower than property taxes because they don't depend on how big your house is, they depend on how valuable the land it's on is. So people in rural/suburban areas will pay way less than people in high value city real estate. Theres a video on it called "the power of land" check it out
    2
  135.  @austinmackell9286  Good point. If all of these people were as concerned about the national debt as they claim, they would simply stop adding to it by selling bonds and instead go back to letting the treasury run an overdraft with the fed. That would allow us to finance the deficit without having to sell bonds. And there would be no economic difference
    2
  136. called being ahead of the curve.
    2
  137. US Jobless claims came in lower than expected. The rate cuts work fast
    2
  138. even if you actually work with homeless people, why would the ones you've interacted with speak for all homeless people?
    2
  139.  @dibari22  what's your source for the 80% number? Because it seems to me like you just pulled that out of your posterior. People are homeless for a wide variety of reasons, and its incredibly naïve to assume people always have access to the help they need. All help for the homeless starts with getting them the security of a roof, other things follow from that
    2
  140.  @beatrixbrennan1545  what you mean is wrong, that's the point
    2
  141. because their numbers don't agree with your feelings?
    2
  142.  @francismarion6400  I'm not saying its not what they do, im saying you thinking it's a bad approach reveals how little you know about the governments monetary operations. A "balanced budget" is not a good thing on the federal level. When you get rid of the governments deficit, that deficit simply gets pushed onto us in the private sector, and thats how you get recessions and depressions. Also i think its pretty funny that you think going over budget is an exclusively dem thing
    2
  143. isnt that what trump is running on? price controls on credit card interest rates?
    2
  144. A co-op condo would be great. Dont know why more people don't do it
    2
  145. recessions have always been defined by the NBER's call. They haven't called one yet
    2
  146.  @tom-ks6hz  Wages have gone up massively since then, obviously you wouldn;t be able to live in 2024 with 1980's wages
    2
  147. why would they jump in now knowing the fed will cut further?
    2
  148. inflation happens for al sorts of reasons that have nothing to do with gov
    2
  149.  @MrGunlover12  and they're right. The national debt makes up peoples savings and assets. Getting rid of it would make people worse off
    2
  150.  @katydid2877  Because more people will have other housing options like town homes. At the end of the day, their are millions of people who need housing options, if all you're allowed to build are single family homes, you're never going to bring demand down. A better question than why should apartments get built near me, is why should you get to tell someone else what they should build on their own land? I believe in free markets, not big government market manipulation
    2
  151. his tariffs would cause stagflation
    1
  152. he'll move the goal post
    1
  153. What weimar problems do we have lol
    1
  154. government debt is private sector assets, so you're saying the private sector is too rich
    1
  155.  @Damn-h4e  Learn double entry book keeping. Every liability has an asset on the other side. We own the assets on the other side of the governments liability
    1
  156.  @bpb5541  maybe because its super small compared to the others
    1
  157.  @RickyEnEspanol  downturns happen when the government reduces deficits. That aint happneing right now so we aint getting a downturn
    1
  158. detroit is making a comeback
    1
  159. We're doing much better tha the Reagan "boom", in terms of growth and unemployment. And inflation has actually gone up the same amount
    1
  160. blue areas are the most in demand, even in red states
    1
  161. thankfully republicans haven't scrapped social security yet
    1
  162.  @RmAndrei93  Thee fed has full control of interest rates. So there's no risk of the debt getting out of hand. Besides, even selling bonds and adding to the debt at all is optional. There's no rule that says you have to match deficits with bond sales
    1
  163. and there are seriously republicans who want to cut social security by 20%
    1
  164.  @LockedUpLarry  ?
    1
  165.  @ThunderStruck94660  How do you know trump loves this country? Because he says he does? He loves himself and his elite friends
    1
  166.  @MIUBHI007  the rich are walled off, so they're fine blocking new housing because they dont have to deal with the homeless
    1
  167.  @paulcarlson4230  how come regular people have to pay taxes on unrealized gains on their homes but everyone loses their mind if you suggest the elites pay taxes on unrealized stock increases
    1
  168. the governments "debt" is our asset
    1
  169.  @Valmontst  cope
    1
  170.  @azmike3572  Yeah, the vast majority of most cities and suburbs are zoned for single family homes only. It's not wonder supply hasn't been able to keep up with demand
    1
  171.  @carltonshore8843  yeah because the legislature repealed their own tax cuts after the state fell apart, they even overrode the govrnors veto to do it. Those tax cuts are a big reason they have a dem governor now
    1
  172.  @11Bravo84  do you have a wealth fund based on a tax on oil profits like alaska?
    1
  173. hope their land value tax proposal goes well, seems like a no brainer to me
    1
  174. they're packed where i am
    1
  175. we're booming. Numbers > feelings
    1
  176. sovereign debt crisis is a myth
    1
  177. its not transfered anywhere
    1
  178. plenty of private sector indicators back up thier numbers
    1
  179.  @markm391  aren't you tired of inflation? Tariffs = inflation
    1
  180.  @gabrielw7773  Because people like Trump keep pushing single family home mandates in our cities and suburbs
    1
  181.  @ericprieto4348  trump recently came out in favor of single family home mandates, so he clearly wants low supply and high prices
    1
  182.  @francismarion6400  if you cut taxes by a trillion, you hurt the government revenue by a trillion. That's a deficit. Unless you match that tax cut with revenue elsewhere, you will have increased the deficit
    1
  183.  @francismarion6400  ok, but that's assuming tax cuts are accompanied by spending cuts. I'm talking about tax cuts alone, they obviously increase the deficit
    1
  184.  @francismarion6400  you said the deficit only increases if the government spends beyond their budget, but revenue obviously determines the size of their budget
    1
  185. The GDP was only 1.6% because of a drop in net exports. "core GDP" made up of consumption & fixed investment actually grew at 3.1%, a very strong print
    1
  186.  @TheSerenity63  if taxation is theft because the government takes what it didn't earn, doesn't that make all private property theft? After all, you didn't earn the land
    1
  187.  @HillyBill38548  im just saying, isn't the logic accurate?
    1
  188.  @HillyBill38548  i agree that taxes should be more geared toward capital than labor, but saying taxation itself is theft doesn't really add up. Because you could use the same argument to say all private property is theft
    1
  189.  @bpb5541  the US doesn't need anyone "lending" it money. It makes the money
    1
  190. i think EV's will get so efficient and reliable and cheap that ice vehicles will go out of style on their own
    1
  191. The government needs to get out of the way, but sadly people like trump support government red tape telling you what you can build on your own land
    1
  192. two randos tried to shoot trump, and this proves the BLS is faking jobs numbers
    1
  193.  @hotmic4045  It doesn't have to be concrete, thats why i asked for a ball park. Otherwise is all just pIssing in the wind. You say it will crash when they cut, that seems like a pretty concrete prediction to me. Thats much better than cryptic ambiguous statements like the one on this post. Although, If it really is when you least expect it, then what use are historic data?
    1
  194. doom sells unfortunately
    1
  195.  @Ziegfried82  You've got to be stagnating to be in stagflation and we're doing the opposite. We're growing a twice the rate of the next strongest g7 country
    1
  196. the grocery store is too monopolized for that. 4 or 5 companies own everything there
    1
  197.  @bpb5541  appreciation isn't the same as inflation
    1
  198.  @MikeS-7  That isn't true. We've borrowed tonnes since 2022 yet inflation has only fallen since then
    1
  199.  @BonoboMonkey  That's fine, but maybe then you shouldn't be whining about inflation?
    1
  200.  @MikeS-7  Then how come the 0 interest rate policies of the 2010's didn't cause inflation despite all the government borrowing back then? Or all the borrowing during ww2 despite the low interest rate environment? What about Japan, they've been struggling with deflation despite very low interest rates and the highest debt to gdp ratio in the world
    1
  201.  @BonoboMonkey  You're punishing everyday Americans. Everyone knows that's who ultimately pays the price. It would be far more inflationary than helping with down payments for first time buyers, and if you're ok paying an extra 5k a year due to tariffs (before other countries retaliate) you don't get to complain about inflation for any reason
    1
  202.  @viewerone  That recession will turn into a depression if the government doesn't start running deficits again. This is why Clinton barely had time to brag about his balanced budget before a recession hit and he had to start running deficits again. Every time we've ever had a period of deficit reduction, we got a recession/depression right afterwards
    1
  203.  @theboringchannel2027  It's completely accurate. It's clear you lack any knowledge of sectoral balance/stock-flow consistent modelling
    1
  204.  @duancoviero9759  Basic accounting. Every payment in the economy must come from somewhere, and every payment must go somewhere. A surplus in one sector can only be achieved via a deficit in at least one other sector. Just as every country on earth can’t simultaneously achieve a trade surplus (or deficit), each of our three sectors can’t be in surplus (or deficit) at the same time
    1
  205.  @zorzobukumica628  ?
    1
  206.  @rossperreault833  economy's slowing down, not cutting now risks recession. Cutting rates risks nothing
    1
  207.  @jonathantaylor6926  inflation is almost all rent, which is lagging. Real time indicators show rent much lower. cpi for everything else is below 2% and we're seeing slight deflation in goods. Obviously they won't but time to cut is now, before we see further weakening in the labor market. Also borrowing rates are set exclusive by the fed, not by investor demand. When you borrow in yout own currency, the market doesn't decide where your rates go
    1
  208. for what?
    1
  209. now do average wages
    1
  210.  @donmarek7001  then why are they pushing EV's so hard? More EV's = lower gas prices
    1
  211.  @donmarek7001  It lowers demand for gas, which lowers prices. Basic economics
    1
  212.  @donmarek7001  Not yet, but they will. Its already happened in China. EV's are bringing us closer to peak gas demand
    1
  213. hide what?
    1
  214.  @bypinkerton892  stock market has pretty much recovered everything its lost over the past week lol
    1
  215.  @bypinkerton892  stock market has pretty much recovered everything its lost over the past week lol
    1
  216. hide what?
    1
  217.  @tobyk5149  dollar index is freely available and not controlled by government
    1
  218. they ended up getting the sick leave
    1
  219.  @Ziegfried82  stock market is rising much faster than infalation
    1
  220. he doesn't kno what he;s talking about?
    1
  221. unemployment been rising
    1
  222.  @Bruno-sy3zv  prices aren't at all time highs, the 3 month average for core inflaiton is at 1.6%. Almost all remaining inflation is in rent, and rent data is lagging. Inflation has been beaten, no need to risk further cooling in the labor market. Also no, all that free interest money is good for people who own bonds, which are the rich
    1
  223.  @janelbuckley8332  we're not on the gold standard anymore so depressions aren't a thing
    1
  224.  @sierrasky2491  nah, recessions turned into depressions on the gold standard because our money supply was tied to the availability of gold. That was terrible for the economy because demand for money explodes during downturns, and the government is left unable to provide that money. But under our fiat system, the government can always provide that money and support demand/private sector balance sheets
    1
  225. illegals arent buying homes
    1
  226.  @theladynextdoor313  ?
    1
  227. covid era inflation was inevitable, no matter who was in charge. The money supply started growing under Trump anyway.
    1
  228. taxpayers didn't pay anything. Federal taxes are debited out of existence upon payment
    1
  229. It's not just about which party was in power though, that's a very simplistic way of looking at things. Trump was in power when the deep covid recession happened, does that mean we should blame him?
    1
  230.  @OldLion64  I dunno, i watch this channel called More Perfect Union and it seems dems are always trying to make things better for the working class
    1
  231. inflation isn't a demand issue, it's a supply issue. And higher rates just lower supply. They could cut
    1
  232. unemployment for natural born citizen is at record lows
    1
  233.  @petersmith6145  that's boomers aging out
    1
  234. if regular people have to pay it on their homes, the elites should have to pay it on their assets
    1
  235.  @florabamabelle6413  republicans destroyed Florida. no thanks
    1
  236. wages are also a lot higher tho, so i'd imagine the average person finds it just as easy to see a movie as they did back in the day
    1
  237.  @MrBob1984  stock market better
    1
  238.  @MrBob1984  stock market is saving in the currency
    1
  239.  @dragonraider14  not talking about the fed, talking about the whisper number for inflation in july. Some people indicate it will surprise to the downside
    1
  240. they tried massively reducing taxes under brownback in Kansas and everything fell apart so much that the legislature had to repeal their own tax cuts and override the governors veto. It's a big reason they currently have a dem governor
    1
  241. yeah, the hyperventilating over a recession was probably premature
    1
  242. and according to the numbers, we have a lot
    1
  243. thats because wages have kept up with inflation. Thats pretty good considering how much inflation we've had after covid
    1
  244.  @gregoryjarvis000  would anything really last without a collective pool of funds with which to conduct public services? Without taxes would rome have contributed all it has to civilization?
    1
  245. ​ @maxscott3349  But isn't the whole concept of private property based on exclusion through violence? You are claiming a piece of nature (which you didn't build) and thus reserve the right to expel all other from it using violence. To have your claim protected by our legal system in perpetuity, shouldn't you have to pay a tax on it in perpetuity? I do however agree that the tax should be on the land and not the house itself, that way you only pay more when your land is made more valuable by the community around you. But the taxes in general i do believe are necessary for any functioning society
    1
  246.  @Finalyayap13  Yes, i do agree taxes should come from assets/capital and not labor or consumption. So i don't disagree with criticism of those particular taxes
    1
  247. ​ @maxscott3349  You wouldn't have the legal right to use violence to protect your property if it isn't legally your property
    1
  248. trumps tariffs will make things 10000 times worse
    1
  249.  @Marktheshark-e7f  Pretty funny that you're trying to play the "both side bad" card when your initial comment was abut how one side will make things way worse
    1
  250. government isn't a household
    1
  251.  @chadwells7562  who said anything about magic?
    1
  252.  @chadwells7562  I dismissed what was said because it was nonsense that conflates a currency issuing governments finances with that of a mere household/private business. Nothing to do with magic
    1
  253. spending wont pancake unless governmetn deficits pancake
    1
  254. yup. if they wanted real change theyd get rid of single family mandates and other strict zoning laws
    1
  255. People currently have more spending power than they did in 2019
    1
  256. They don't build much housing in Cali. This causes rents to go through the roof and people end up living on the streets
    1
  257.  @Mikegastaldo  Even if no one came in, they're not building housing adequate for the people who already live there. Im sure Austin has the same number of "ponchos" coming in, yet they're seeing some of the sharpest rent declines in the country, because they actually build housing
    1
  258.  @Mikegastaldo  source?
    1
  259. yeah but most of that is in rent. We're below 2% inflation on everything else
    1
  260.  @xzr56  right
    1
  261. need land value taxes
    1
  262. prices will remain super high due to our massive housing shortage. We need government red tape to be cut, not added like trump is suggesting
    1
  263.  @garysmolen528  96% of california's residentially zoned land is exclusively for single family homes. Supply is never gonna keep up with demand if you don't allow denser forms of housing
    1
  264. NIMBYism is a disaster
    1
  265.  @jbeav3902  The US has no problem paying for interest on the debt. They paid for 120 TRILLION dollars worth of interest in 2021 alone
    1
  266.  @tobyk5149  aint a coincidence we haven't had one since we left the gold standard
    1
  267. At least harris is cutting all the red tape around homebuilding, trump has doubled down on housing regulations
    1
  268. productivity is very high right now, so we're able to grow a lot without employing as many people. Current gdp predictions are at 3.2%
    1
  269. the governments debt is our asset
    1
  270. ?
    1
  271. isnt that what property rights are?
    1
  272.  @CharleneSmith-we9vh  its had no affect on the dollar
    1
  273.  @bpb5541  The economy will be fine as long as the government continues to run deficits, which they will
    1
  274. why would they give all that stimulus and pay off peoples student loans then?
    1
  275. some of the things you mentioned are literally in deflation
    1
  276. a common definition isn't the US definition. In the US, its only a recession if the NBER calls it one. Also, even if you consider that period a recession, which it wasn't, we've long since come out of it
    1
  277.  @crabbyhayes1076  sure but like i said, 2 quarters of negative growth doesn't = a recession in the US. And every quarter since then has been positive anyway, so even if that were the definition of a recession, we haven't been in one recently
    1
  278.  @anowerulazim4381  the average wage across the economy
    1
  279. corporations own a tiny share of the rental market. And they only see it as a good investment because the government artificially reduces supply with their single family zoning mandates
    1
  280. doom sells
    1
  281. not true. They've been deficit spending since 2022 and inflaiton has only fallen since then. Inflation is defined by the rate of increase in prices, not printing money
    1
  282.  @esteban1487  what % of a nations wealth would have to be owned collectively though the government for a country to be considered socialist?
    1
  283.  @bobbya51  I'd love to, can't right now though
    1
  284.  @queserasera1674  She was VP not president. That question more accurately applies to trump, who was actually president before. Why didn't he do his current tax cut plans when he was president?
    1
  285.  @MrSteeDoo  some people are afraid of any kind of density, even in cities
    1
  286. without taxes you have anarchy
    1
  287. the media was screaming recession all of last year, bloomberg said it was 100% certain in 2023. They just ended up with egg on their face
    1
  288.  @dertythegrower  no matter where it is, that much growth is closer to a boom than a recession
    1
  289.  @NE0Nwhip  That isn't necessary. If the debt becomes a problem we could always just stop selling bonds. There's no rule that says we need to match deficits with bond sales. Or we could just buy out half our debt like the Japanese did
    1
  290. you can't expect them to make current decisions based on future reports. Doesn't really make sense. At the time, the unemployment rate was rising quickly
    1
  291.  @jjms79  they don't need to lower anything. The fed processes over a quadrillion payments a year, they have no trouble servicing the debt since it comes due in US dollars, and they make the stuff
    1
  292. Wrong. The SPR has now been rising for over a year, and stands at 375 million barrels, with more to be delivered every week through 2024
    1
  293. trump tariffs way more likely to send people to the soup line
    1
  294. what do you make of republicans trying to cut social security by 20% by raising the retirement age?
    1
  295. from the fact that buyers keep buying things? Aggregate demand is still high
    1
  296. what policy do 90% appose?
    1
  297.  @L.Fontein7  Fiat currencies don't become worthless when you borrow exclusively in your own currency. This is why countries like sri lanka, argentina, venezuella etc went under with far lower debt to gdp ratios than japan. They borrowed in foreign currencies, Japan borrowed in it's own currency. Taxes will always give some value to your currency, in fact people in the US only pay federal taxes to give value to the dollar, the government doesn't actually use it
    1
  298. false choice. Low interest rates don't automatically lead to inflation
    1
  299. Harris is trying to make billionaires pay their share of unrealized gains too
    1
  300.  @PhuQuocTranIV  this is why im thankful biden has ended the student loan crisis
    1
  301.  @atlantasailor1  it's very different actually. We don't determine the value of of our currency based on how much shiny rocks we have in them
    1
  302.  @rnettles6241  We certainly wouldn't be growing at twice the rate of the next strongest g7 country, we wouldn't unemployment below 4% for the longest stretch since the 60's, we wouldn't have new business forming at a record pace. Be serious
    1
  303. this is why government deficits is a good thing. The Governments deficit is our surplus, so as long as they keep running deficits, the private sector will have the funds to spend with
    1
  304. So are wages
    1
  305.  @thetapheonix  trump is ultra israel first
    1
  306.  @morriganfey6079  its already adjusted
    1
  307. you keep repeating it so i'll bite, what makes you say climate change is naturally occurring? How do you explain all the extra carbon in the atmosphere coming from plants (fossil fuels)?
    1
  308.  @NFL1976  ?
    1
  309. they dont
    1
  310.  @francismarion6400  of course it is, the poorer you are, the more of what you earn gets taken
    1
  311.  @francismarion6400  nah, they pay different kinds of taxes like payroll, sales and excise taxes
    1
  312.  @francismarion6400  depends on what you consider too much. I personally think the government isn't doing too much if it helps ensure people aren't living below the poverty line. A strong safety net is good for people, their communities and the overall economy
    1
  313.  @ld9044  it aint a depression if people dont know
    1
  314.  @ld9044  the point is people would feel a depression. They clearly arent, most people say their finances are just fine. New business are starting up at a record pace, restaurant and concerts are packed. Even if they're paying with credit, they wouldn't have access to that credit in a depression
    1
  315.  @esteban1487  greatly
    1
  316.  @DIVISIONINCISION  nah thats too quick
    1
  317.  @DIVISIONINCISION  ahead of the curve doesn't mean just zooming rates lower. It means being proactive and a 50 cut was
    1
  318. i was impressed too
    1
  319.  @commonsense504  not inevitable at all
    1
  320. trump is for higher prices, thats why he's doubling down on housing regulations
    1
  321. it doesn't. Core cpi leaves those out to see what underlying inflation is
    1
  322. private or public?
    1
  323.  @michaeln.2383  it may apply to private debt but it doesn't apply public debt. The money always exists to service government debt because it is owed in the governments own currency. They simply create the money as it comes due
    1
  324. retail sales just came in above expectations. And going after price gougers isn't the same as price fixing, we're already doing that
    1
  325.  @randomchord  by reporting facts?
    1
  326.  @randomchord  wages have outstripped inflation over the past 4 years. They'll probably set up a commission to fine companies found to be price gouging, using similar methodology as they do currently. I know of at least 4 companies that have already faced price gouging sanctions
    1
  327.  @randomchord  the numbers are easily found just be looking at the inflation reports over the past 4 years and measuring them against the wage numbers. Most of the losses from the sell off have already been erased, so im not sure it was that historic. Yes, the companies are in the food industry. Cal-main, the country's biggest egg producer hit with 53 mill. Starkist, the tuna producer, and JBS was recently hit for price fixing beef. They've already gone after apple. Her plan to build 3 million new homes is great, we have a massive housing shortage in this country. Also your tax dollars aren't going anywhere, they're debited out of existence upon payment. The retail numbers contradict your claim that the "bottom of the food chain" was disappearing and that the middle class was no longer buying
    1
  328.  @randomchord  Inflation since bidet took office has been 19.4% and wage increases for workers has been 19.7%. The calmain fine was paid last year for long running price fixing. Like i said, the retail numbers indicate the middle class is still spending, you claimed they'd bene wiped out. Harris is adding millions of homes to the supply, maybe the down payment assistance isn't ideal and won't help in already oversaturated areas, but it could make a world of difference in less desirable rural areas. And all that extra supply will do a world of good. See who was right about what? Neither of us are exactly making predictions for the future, you're saying the consumer is tapped out, and im saying they aren't. The numbers clearly support the "not" argument for now. But if you wanna make a bet about the future im down
    1
  329. buying up residential properties is only profitable because the government limits supply with strict zoning laws
    1
  330. state governments cant print money
    1
  331. the truth is we'll be fine
    1
  332.  @joeimj6203  and people claim we're in a depression
    1
  333. they gov has an infinite supply so its now difference to them
    1
  334. no on both counts
    1
  335. no, they're paying us interest
    1
  336.  @miket7184  Crime has only been falling since it peaked under trump. You get homelessness when you manipulate the market to keep supply low, which trump supports. Trump blocked the strictest border bill in decades, and would only add to inflation with his 20% tariff on all goods. Funny how that works
    1
  337. We're currently gowing at a higher rate than they projected we'd be even before covid screwed the economy
    1
  338. how so?
    1
  339.  @Ziegfried82  Just because ownership can comes with stipulations, doesn't mean it isn't ownership
    1
  340.  @EnterBitcoin  thats the law, if you want the legal distinction of property owner, you have to contribute to the maintenance of the state
    1
  341.  @violent_bebop9687  Yes, it's in perpetuity. Since you wish to occupy a piece of nature and exclude other in perpetuity, it makes sense for you to pay in perpetuity
    1
  342.  @robg5157  I guess i just agree with old Benny Franklin. "He that does not like civil society on these terms, let him retire and live among savages. He can have no right to the benefits of society, who will not pay his club towards the support of it”
    1
  343. why isn't my house and job gone now? Dems are already in charge
    1
  344.  @cheaplaughkennedy2318  ? ist this vid about them lowering prices?
    1
  345. she's also going to bring tonnes of housing online by getting rid of red tape, trump is doubling down on housing red tape
    1
  346.  @michaelb.8953  2.5% is an all time record?
    1
  347.  @tonyk8369  people are much richer now than previous gens
    1
  348.  @debbiec6216  lol
    1
  349.  @surfboard396  doom sells. Many such cases on youtube
    1
  350. Its cus the majority os residentially zoned land is exclusively for single family homes. Best way to lower demand for single family homes is to legalize apartments, condos, townhomes etc
    1
  351. deflation won't be a problem for the govenrments debt but it will be a problem for everyone elses debt
    1
  352.  @petegurdal1844  Where the government tells you what kind of housing you can build on your own land
    1
  353.  @winniethepoohandeeyore2  If you don't want to live among people shouldn't you be off the grid?
    1
  354.  @DeplorablesGarbage  what is the name of that law/bill?
    1
  355.  @stephengeorge3507  go live off the grid if you cant handle living among people
    1
  356. florida is actually a good place to own an ev because it's very sunny. You would be able to charge your car from home and save money on gas
    1
  357. the government doesn't "borrow"
    1
  358.  @xro1983  the "kicking the can" phrase is nonsense
    1
  359. the banks down just give out loans, you've gotta be good for it. More people getting loans approved means more people are able to pay
    1
  360. @hycoperosity5843 the fed is part of the government. Its funny how many people think the US government has to beg for money from a private bank. They're a government entity. They were created by the government, get their authority from government, answer to government, have their board of governors appointed by the government, have to turn over all their profits to the government, and only exist to fulfil their dual mandate from the government, full employment + low inflation. Also, the governments "debt" is our asset. If they were to wipe out the debt, millions of peoples savings and assets would go down the toilet. Both dollars and bonds are just government IOU's, so if you're not mad your grandkids would inherit money, you shouldn't be mad they'll inherit bonds (government debt)
    1
  361. there's no genie or bottle. People have been predicting an iminent collapse more or less since the country was founded. Those who know how monetary operations work know its nonsense
    1
  362. not according to the numbers
    1
  363. How did we go from a depression with low tax revenues straight into a costly world war? Almost as if the government has its own money and doesn't need taxes
    1
  364. only gonna get worse with global warming
    1
  365. Co-op condos don't need to deal with HOA fees im pretty sure
    1
  366.  @minigirl6839  Heard that when Biden was elected lol
    1
  367. Inflation won't increase meaningfully any time soon, unless something like ww3 happens. It only spiked after covid because covid was a black swan event. Low rates doesn't = inflation, we saw that for the entire decade prior to covid
    1
  368. we need a land value tax
    1
  369. A good place to start would be getting rid of these strict zoning laws that make everything except single family homes illegal. This artificially constrains supply and makes buying up homes and mobile home parks a profitable endeavour. The city could also buy up land and develop non market housing on it to further put downward pressure on prices. Or we could implement a land value tax, yes it means you wont get to benefit from the value of your land but you'll pay less in property taxes. Also im not sure the greed is good philosophy works in this scenario, because the land lords did not invent the land
    1
  370. thats why we need a land value tax. it'll take away most of the value of your house but it would lower taxes and get corporate speculators out of the market. Check out a vid called "The power of land" by Britmonkey
    1
  371. why would they announce a recession with unemployment at 4% and growth at 3.1%? thats a booming economy
    1
  372.  @robertoramos8257  wages have kept up with inflation, and risen most among the bottom 20%
    1
  373. gdp tracker has us growing at 3% this quarter, thats boom
    1
  374. 750 billion to illegals?
    1
  375. Higher rates = higher deficits needed to make the interest payments. We're currently spending more on interest payments than Medicare
    1
  376.  @PaulaHawk99  the land value tax would replace the property tax and potentially most other taxes. So if you live in the suburbs or a rural area you'd pay way less than you would if you lived in the cities. Also you wouldn't get penalized for fixing up your house. Theres a good vid about it here called "The Power of Land: Georgism 101" check it out
    1
  377.  @PaulaHawk99  lvt would be less taxes
    1
  378. they should just follow the only method that works, housing first. No need to force them to get sober or get a job before giving the shelter. That stuff comes after you're secure
    1
  379.  @Joce123  There's no guarantee of course, but it's incredibly effective and a very large percentage of people do end up staying in a job and off the streets. It also saves the city large sums of money both in less crime, and less shelter costs
    1
  380.  @stevenemartin  a good start would be getting rid of all the government red tape around housing construction in places like san fran
    1
  381. no definition was changed
    1
  382. The problem is that they're ignoring the most successful homeless remedy there is: Housing First. Get them into a home before asking them to get sober or get a job. They can only do those things once they have the stability of a roof. It works and tends to save the city money too
    1
  383.  @desolder75  old news, that applied to the year ending last February
    1
  384. what do you know that they donr oh wise one
    1
  385. clearly not true since they've been doing that since 2022 and inflation has only come down since then. We currently have deflation in pretty much everything that isn't essential
    1
  386. we don't all owe 35 trillion. The government does. And no, they don't get their money from taxes
    1
  387. we should have land value tax instead of property taxes. You pay much lower taxes if you're in a less populated area like a suburb, or if your home uses land efficiently like 2 stories
    1
  388. government debt = private sector asset. And its not mathematically impossible to pay off
    1
  389. anyone who owns a home isn't getting crushed, they're thriving
    1
  390.  @Sweetbutpsyko  they need to ditch all these laws making it harder to build new housing. Single family mandates, parking minimums, 2 stair mandates
    1
  391. we stopped doing that ages ago
    1
  392.  @jayson657  it's great for me for a start. And its great for a lot more according to the macro data. When assessing the health of the overall economy, you've gotta look beyond your bubble
    1
  393.  @JohnShalamskas  cant reduce government spending
    1
  394. what does 08 have to do with covid? And if you think your money is monopoly, feel free to send it my way
    1
  395. Those are just initial downward revisions, they've tend to be revised back up in recent years
    1
  396.  @bcampbell1826  ok?
    1
  397. crime has only fallen from its peak in 2020. Food and shelter are up, but so are wages. Consumer debt as a share of income is actually better than it was pre-pandemic. Government debt is indeed a sign of a strong economy, as government debt = private sector assets. Bankruptcies are historically low. Growth is very high, unemployment is very low, inflation continues to fall. All signs of a great economy
    1
  398.  @Resmith18SR  People who are struggling dont feel like the economy is great, but all economies have struggling peoples, even in boom times. I'm not saying everything is great, thats impossible, but it is certainly a great economy by most metrics. And the number of people living paycheck to paycheck isn't particularly elevated by historic standards. People are not even close to maxing out their credit cards, as credit utilization is around 20%. Crime is has been plummeting for over a year now, thats objectively the case. Again, you're trying to imply that we cant have a well functioning economy unless everyone is doing great and crime doesn't exists, which is ridiculous. It will eventually hit 100 trillion, and that will be just as fine as the currency 35 trillion is, because the economy will have grown massively by then
    1
  399.  @Resmith18SR  Its not in my mind, its in the economic data. You're arguing that some people are struggling, which is no doubt happening, but some people struggling isn't a measure of a bad economy. As like i mentioned, people struggle even in the best of times. He rose rates because he mistakenly believed that inflation was a demand issue rather than a supply one. And if he lowers rates soon, it's because there's not need for them to remain high given that the only remaining inflation is in rent, which high rates don't help. If anything, high rates make rent more expensive. Im not in the minority according to the polls, most people say their finances are fine or very good. They just think everyone else is struggling because the media likes to amplify negativity. I never said crime didn't exist, i said its been falling rapidly since it peaked in 2020
    1
  400.  @Resmith18SR  inflation still exists in the areas too, but food inflation has been very low recently and the insurance inflation is made worse by higher rates. Also if you take out the lagging rent numbers, cpi would be 1.9% well within the fed target
    1
  401.  @Resmith18SR  not according to the polling
    1
  402.  @Resmith18SR  most of the ones polling about peoples finances. Most recent one was by fox
    1
  403.  @Resmith18SR  i did name the poll, the new fox news poll. I wouldn't say they're delusional but they're not a representative sample
    1
  404.  @Resmith18SR  most people believe their finances good or great
    1
  405.  @beatrixbrennan1545  No on receives public tax dollars on the federal level. Your taxes do not pay for anything the federal government does. The money you use to pay taxes was spent into the economy by the government, so paying your taxes doesn't give the government new money, it just cancels out the money they already spent. This is why they throw your tax money in a shredder if you pay by cash. Try it out yourself
    1
  406. depressions arent possible in the fiat era
    1
  407.  @HealingPainNaturally  "over forever" haha, i'll believe that when i see it.
    1
  408. how is it a ponzi scheme?
    1
  409. why is it immoral? You're not paying for it so why do you care?
    1
  410. thats communism not socialism
    1
  411.  @francismarion6400  i guess socialism is an umbrella term that can include communism, but nowadays socialism refers to the non marxist lenninist kind. The kind that allows markets and democracy
    1
  412. high rates are keeping inflation high.
    1
  413.  @kevinhaney293  Government employees are paid for their labor like anyone else. They are not funded by taxpayers because taxes are deleted at the IRS
    1
  414. Great news on the inflation front
    1
  415. then why does the govenrment ban all forms of housing tha aren't big single family homes?
    1
  416.  @cypherlock01  they don't need gold so it doesn't matter. They have $
    1
  417.  @emberspirit6375  inflation aint thru the roof
    1
  418.  @azmike3572  floating exchange rate currency system
    1
  419.  @dertythegrower  government debt is an asset to the private sector
    1
  420.  @francismarion6400  You're the midwit meme
    1
  421.  @francismarion6400  Stop looking at government finances the way you look at household finances, they're very different
    1
  422.  @scottohara9001  same logic
    1
  423. This is why i am disappointed in Trump doubling down on single family home mandates. Keep the government out
    1
  424.  @jkmarshall3553  balancing the budget is a terrible idea. The governments deficit is our surplus, so asking for a balanced budget is asking for the government to take money out of our pockets
    1
  425. he had them adjusted down by over 500k at one point
    1
  426.  @mitchmoe6224  thats why im voting for Harris. Dems have been great for unions
    1
  427.  @mitchmoe6224  what do you mean not good for the rank and file? This is been the most pro-union NLRB in recent history. Compare that to Trump who recently praised elon musk for firing striking workers and its a no brainer
    1
  428.  @mitchmoe6224  No, i've looked at the rules the NLRB has been putting out. No recent administration comes close
    1
  429. what economic downturn? retail sales are up, and unemployment claims are way down
    1
  430. that doesn't mean everything is going up
    1
  431. those are almost all boomers retiring or who didn't make it out of covid
    1
  432.  @terrifiorelli9819  The money will never turn to toilet paper. The only reason the federal government makes us pay taxes is to give their currency value. They throw our taxes in a shredder after we pay them. You can buy shredded tax money in DC
    1
  433.  @terrifiorelli9819  Argentina has tonnes of debt in foreign currencies. The US has all of its debt in dollars, so it will be fine. This is why japan hasn't had hyperinflation or defaulted despite having a debt to gdp ratio far higher than Venezuela
    1
  434. anecdotal
    1
  435.  @geraldkoth654  nonsense. inflation is the rate of increase in the price level
    1
  436. @Bluebird8712 hyperbole
    1
  437.  @bloodyidit4506  retail sales are strong, jobless claims are falling, restaurant bookings are strong, air travel is strong, hotel occupancy rates are high, bank credit growth is accelerating, bankruptcy filings are trending lower, credit card spending is solid, and Broadway show attendance and box office grosses are strong
    1
  438.  @HarrisonCountyStudio  nonsense
    1
  439.  @HarrisonCountyStudio  nope, it's always been the rate of increase not the money supply
    1
  440.  @KennyCronin-wq8xq  give us a line from the book
    1
  441. micro recessions happen all the time tho, that's not a real recession
    1
  442. land value tax !
    1
  443.  @762foryou  It's actually the doomers who fail to accept reality. They've been predicting impending doom since the national debt was just 1 billion. Kinda like waiting for the rapture
    1
  444. thats why we should have a land value tax. You get taxed based on the value of your land, not the house. It will take away most of the value of your house but you'll pay less taxes and home ownership would be back on the table for most people. Speculators and corporate investors would be forced out of the market
    1
  445.  @DavidSamuel-c3h  it is supply and demand, the government artificially limits supply of housing, which puts demand through the roof
    1
  446.  @DavidSamuel-c3h  the housing bubble meant that homebuilders massively underbuilt homes in the 2010's. Keeping mortgage rates high has only driven down the supply of existing homes for sale. If the Fed lowers rates, it would spur demand from buyers who have been sitting on the sidelines. Only way out is through more supply. Jerome Powell and company can’t make new homes or apartment buildings appear out of thin air through monetary policy
    1
  447.  @katydid2877  it helps because it's new supply. New supply increases the vacancy rate which puts negative pressure on prices. Filtering also takes place where more financially capable people move into the new apartments making their old housing available on the market. Housing isn't a strip club, and ultimately affordable apartments are occupied by regular people. Whats worse is blocking so much new housing that you end up with hoards of homeless walking the streets. At the end of the day, someone put their hard earned money into their land, a random neighbourhood busy body shouldn't get to tell them they can't build a duplex
    1
  448. we should have land value tax instead of property taxes. You pay much lower taxes if you're in a less populated area like a suburb, or if your home uses land efficiently like 2 stories
    1
  449.  @divergentone7491  Land value taxes should exist in my opinion. If you want to wall off a piece of nature and exclude other from it, you should have to contribute to the society that allows you to do so in peace, not just from individuals but foreign states as well. And that tax only applies to the unimproved value of the land your property is on, not the property itself which is currently the case
    1