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I don’t know why the US is following Japan’s path to its “lost decade.” I guess once the Fed adopted quantitative easing, pioneered in Japan, it was inevitable that we would go down the same path. The road map is: easy money -> asset price bubble -> bubble bursts -> lending collapses (bad debt) -> quantitative easing / attempted fiscal stimulus -> government debt crowds out private investment -> lack of growth (private investment is more efficient at generating growth) -> more government stimulus / more government debt -> central bank is pushing on a string / stimulus has no effect.
We’re in the crowding out private investment stage, without the historically high personal savings rates that are culturally engrained into the Japanese. The federal and state governments are looking to tax wealth / any form of savings that isn’t Social Security, looking to increase capital gains taxes, trying to discourage people from Roth IRAs, and basically waging war on private savings. At the same time, they are running up record levels of public debt. This is an economic poison pill, that the American people may be paying for for decades.
This is not a surprise when you look at the structure and constitutional powers of the Florida governor. Also, how is this “fascism?” Please define “fascism” with a citation from a non-Princeton / Ivy nut job source that isn’t “authoritarian looking stuff I don’t like.”
https://www.covers.com/politics/us-election-betting-odds
Weird. The homepage headline reads: Biden pulls away from Trump. The fix is in!
Biden's tax proposal could wreck real estate investors.
I went through 256 pages of his proposal to analyze the impact.
Here is all you need to know:
— The Money Cruncher, CPA (@money_cruncher) May 15, 2024
Well this is unusual.
This is Jared Bernstein, the Chair of the Council of Economic Advisers, the main agency advising Biden on economic policy, from the documentary: Finding the Money.
He seems unable to communicate how the US monetary system works, despite being an advisor on… pic.twitter.com/gRI3y3hfDx
— unusual_whales (@unusual_whales) May 3, 2024
This interview. From the upcoming “documentary” on money… from he Modern Monetary Theory side of things.
https://en.m.wikipedia.org/wiki/Jared_Bernstein
Why is this important? Because it explains the administration’s approach to debt and deficit spending. This man, with no formal economics training, is the chair of the Council of Economic Advisors.
This idiot, Jared Bernstein, is Biden's Chairman of the Council of Economic Advisors. He spews BS about our horrific Biden economy. He graduated with a degree in music, with a doctorate in Social Services. He's clueless like the rest of the Biden Administration, about anything… pic.twitter.com/2xScU7KvMg
— Jon C Whiteman CPA (@GMastersonCPA) April 29, 2024
He can’t address the dumb MMT talking point of why do we borrow money instead of simply spending printed money. We’re all screwed.
