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boggsman1
Joined: 24 Jun 2002 Posts: 9120 Location: at a computer
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Posted: Tue Sep 20, 2022 1:36 pm Post subject: |
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mrgybe wrote: | As I said a year ago, Powell and his cohorts got it completely wrong and are now desperately playing catch up. He should have been fired months ago, but at least he is finally tightening monetary policy. Meanwhile, in la la land, Biden is celebrating yet another trillion in government spending coming down the pipe. Someone please tell him! |
You're doing it again, no balance, just Biden Biden Biden. As if nothing bad happened leading up to this debacle. |
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mrgybe
Joined: 01 Jul 2008 Posts: 5180
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Posted: Tue Sep 20, 2022 2:28 pm Post subject: |
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I haven't mentioned where the fault lies; that's your invention. There is plenty of blame to go around, but Biden is President right now, so it falls to him to do the right thing, right now. Adding fuel to the fire by introducing even more massive government spending programs is not the right thing to do. Do you disagree? |
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boggsman1
Joined: 24 Jun 2002 Posts: 9120 Location: at a computer
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Posted: Tue Sep 20, 2022 3:25 pm Post subject: |
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mrgybe wrote: | I haven't mentioned where the fault lies; that's your invention. There is plenty of blame to go around, but Biden is President right now, so it falls to him to do the right thing, right now. Adding fuel to the fire by introducing even more massive government spending programs is not the right thing to do. Do you disagree? |
Which ones?
Student Loan? I don't like the plan. Chip Bill? I like it. What else? |
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mrgybe
Joined: 01 Jul 2008 Posts: 5180
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Posted: Tue Sep 20, 2022 4:39 pm Post subject: |
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Student Loan forgiveness.........agreed.......vote buying with taxpayer money setting an incredibly bad precedent for the future. CHIPS........there is massive global demand for semiconductors, and a significant shortage, yet the taxpayers need to give Intel and others huge amounts of money to encourage them to tap that demand? Inflation Reduction Act (try not to laugh)...........inapt doesn't cover it. Just another huge wish list item to appeal to his base.
Sometimes you just have to stop spending. |
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isobars
Joined: 12 Dec 1999 Posts: 20935
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Posted: Tue Sep 20, 2022 5:11 pm Post subject: |
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And the $1.6T dollar tax gift of that loan forgiveness goes to the universities who CAUSED the problem by lying to students about the benefits of those loans. (I assume everyone here knows that those universities have cash by the trillions stashed in their collective bungholes, raised their tuitions by the amount of those forgiven loans anyway, and thus don't need or deserve one red cent of that gift from unwitting taxpayers.)
Everyone here also knows the Inflation Reduction Act is an even bigger ripoff, an AGWA scam in sheep's clothing.
mrgybe wrote: | Student Loan forgiveness.........agreed.......vote buying with taxpayer money setting an incredibly bad precedent for the future. |
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swchandler
Joined: 08 Nov 1993 Posts: 10588
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Posted: Tue Sep 20, 2022 5:48 pm Post subject: |
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At least President Joe Biden isn't pissing away billions on a foolish border wall and lying about who will pay for it. Speaking for myself, I'm stoked that Biden had the good sense to invest in America while he can realistically muster the support in Congress. In the long term, the decision to invest in America will bear fruit on so many fronts.
Should the Republicans win the House in November, that will all end. Republicans don't have any real plans other than going after Hunter Biden or a boatload of other useless investigations targeting the Biden Administration. And, no doubt, they will close down the January 6th committee hearings in an attempt to get Donald Trump off the hook. Maybe they'll even go after Hillary Clinton again and create another ludicrous circus that goes nowhere. Hillary always brings out the bloodthirsty nature of the Republican base. Got to keep them panting in a fever of hate. |
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boggsman1
Joined: 24 Jun 2002 Posts: 9120 Location: at a computer
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Posted: Tue Sep 20, 2022 7:09 pm Post subject: |
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mrgybe wrote: | Student Loan forgiveness.........agreed.......vote buying with taxpayer money setting an incredibly bad precedent for the future. CHIPS........there is massive global demand for semiconductors, and a significant shortage, yet the taxpayers need to give Intel and others huge amounts of money to encourage them to tap that demand? Inflation Reduction Act (try not to laugh)...........inapt doesn't cover it. Just another huge wish list item to appeal to his base.
Sometimes you just have to stop spending. |
On its face yes .. But to get more on shoring of chips , you need to incentivize because it costs way more than producing them in Taiwan. So, if the US wants to bump domestic production from 8%, they'll need to fund these massive fabs.. |
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mac
Joined: 07 Mar 1999 Posts: 17747 Location: Berkeley, California
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Posted: Wed Sep 21, 2022 12:15 am Post subject: |
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Let’s see, Trump’s corporate tax cuts cost $750 billion, and ensured an ample supply of campaign contributions for Republicans. Biden’s forgiveness of some student debt is estimated by Wharton’s between $469 and $519 billion. Crickets from the right when Trump blew a hole in the budget. Wailing and gnashing of teeth when Biden kept one of his campaign promises—you remember, the election he won by 8 million votes because the Republicans ran a crook. |
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mrgybe
Joined: 01 Jul 2008 Posts: 5180
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Posted: Wed Sep 21, 2022 9:47 am Post subject: |
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boggsman1 wrote: | On its face yes .. But to get more on shoring of chips , you need to incentivize because it costs way more than producing them in Taiwan. So, if the US wants to bump domestic production from 8%, they'll need to fund these massive fabs.. |
So Intel made large profits by outsourcing to cheaper jurisdictions, and now taxpayers are going to give them $10 - 15 billion to bring some of it back? Capitalism at its finest, but at least a little more defensible than allowing millions to renege on their debts to get their vote.
We can't keep printing money and giving it away. Finally, the Fed seems to get it. Joe's handlers won't until the midterms are over. Real leadership. |
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boggsman1
Joined: 24 Jun 2002 Posts: 9120 Location: at a computer
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Posted: Wed Sep 21, 2022 10:13 am Post subject: |
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The US is hell bent on bringing back manufacturing of semi's due to the Chinese threat of invading Taiwan. TSM exports 65% of their goods to North America. So, in short the US is protecting its own interests... |
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