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Thread: Joe's disappointing speech today

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    testsubjectalpha's Avatar Senior Member
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    Joe's disappointing speech today

    After passing a $2T so called Covid package, $2 Trillion like a month ago, Biden is talking about there is nothing in that package and now he needs to borrow another $4 Trillion in your name.

    Is anybody here buying this garbage from him anymore?

    Biden Holds Press Conference With Prime Minister Of Japan | NBC News - Bing video
    "The Constitution is not an instrument for the government to restrain the people, it is an instrument for the people to restrain the government - lest it come to dominate our lives and interests." - Patrick Henry

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    Joe himself has always been disappointing but he's the best the democrats had to offer.





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    We know inflation is going crazy. Increases we have see on materials range from 2% for minerals to 70% for wooden crates and they are not quoting. They tell us to call at the time of order.

    We fully expect 20% for this year as the impact on our prices. Gasoline and food easily match these increases. Capital goods will have to follow.

    We know that the government lies about inflation from Bush and beyond by revaluing the key products they measure.

    But let's take the governments 2.6% number.
    The Fed discount rate is .25%.
    The current 13 week Treasury Bond is at .005
    The average mortgage rate is still only 2.68%

    How soon before the Fed has to take action and the what happens to our interest payments on the debt?
    Last edited by carolina73; 05-10-2021 at 08:53 PM.

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    Quote Originally Posted by carolina73 View Post
    We know inflation is going crazy. Increases we have see on materials range from 2% for minerals to 70% for wooden crates and they are not quoting. They tell us to call at the time of order.

    We fully expect 20% for this year as the impact on our prices. Gasoline and food easily match these increases. Capital goods will have to follow.

    We know that the government lies about inflation from Bush and beyond by revaluing the key products they measure.

    But let's take the governments 2.6% number.
    The Fed discount rate is .25%.
    The current 13 week Treasury Bond is at .005
    The average mortgage rate is still only 2.68%

    How soon before the Fed has to take action and the what happens to our interest payments on the debt?
    Now, I'm not the economic savant of an AOC or Bernie Sanders but I'm pretty sure than when inflation rears it's ugly head and prices rise it disproportionately penalizes the poor and middle class. Those who do not have a lot of extra cash to spend. What is called the hidden tax hike.





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    Quote Originally Posted by The Booman View Post
    Now, I'm not the economic savant of an AOC or Bernie Sanders but I'm pretty sure than when inflation rears it's ugly head and prices rise it disproportionately penalizes the poor and middle class. Those who do not have a lot of extra cash to spend. What is called the hidden tax hike.


    And then the Woke Biden crowd will demand even higher taxes and more social spending along with artificial wage hikes that kill jobs!

    When the dust settles it will be very ugly and we may not recover this time?

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    Quote Originally Posted by RMNIXON View Post
    And then the Woke Biden crowd will demand even higher taxes and more social spending along with artificial wage hikes that kill jobs!

    When the dust settles it will be very ugly and we may not recover this time?
    They're not worried because they'll just blame Trump.

    And the lemmings will march on.





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    Quote Originally Posted by The Booman View Post
    Now, I'm not the economic savant of an AOC or Bernie Sanders but I'm pretty sure than when inflation rears it's ugly head and prices rise it disproportionately penalizes the poor and middle class. Those who do not have a lot of extra cash to spend. What is called the hidden tax hike.
    And where does the Fed get the money to cover the loss they take on loaning banks the money to keep mortgage rates low?
    They print it and idlute the dollar more to create more inflation and further devalue our savings and retirements.
    When retirees see their 3% COLA at the end of the year then they will wonder why everything they are buying is 20% more expensive. Frauds in the White House will say "But look at our low inflation number!."
    Last edited by carolina73; 05-10-2021 at 09:29 PM.

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    Quote Originally Posted by carolina73 View Post
    We know inflation is going crazy. Increases we have see on materials range from 2% for minerals to 70% for wooden crates and they are not quoting. They tell us to call at the time of order.

    We fully expect 20% for this year as the impact on our prices. Gasoline and food easily match these increases. Capital goods will have to follow.

    We know that the government lies about inflation from Bush and beyond by revaluing the key products they measure.

    But let's take the governments 2.6% number.
    The Fed discount rate is .25%.
    The current 13 week Treasury Bond is at .005
    The average mortgage rate is still only 2.68%

    How soon before the Fed has to take action and the what happens to our interest payments on the debt?
    Met a 61 year old gal (originally foreign but an American citizen) the other day living on her husbands SS and the last two years have been so brutal she is moving to Turkey so she can live on her SS comfortably. Can't do it here on a fixed income and it is getting worse.

    Have another acquaintance in her 80's that cannot live on SS so is using a settlement for a wrongful death to implement income with rental houses she purchased. She's lucky except for the wrongful death reason.

    Waiting for democrats to pipe in and tell us how they all did it wrong, like they do with businesses because of unemployment bonuses.
    Last edited by Hoosier8; 05-10-2021 at 09:22 PM.
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    When he told protesters to “go home”, he meant stay for an insurrection.

    And when he told Brad Raffensperger to implement “whatever the correct legal remedy is”, he meant fraud.

    War is peace.

    Freedom is slavery.

    Ignorance is strength.

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    Quote Originally Posted by carolina73 View Post
    And where does the Fed get the money to cover the loss they tak on loaning banks the money to keep mortgage rates low?
    They print it and idlute the dollar more to create more inflation and further devalue our savings and retirements.
    When retirees see their 3% COLA at the end of the year then they will wonder why everything they are buying is 20% more expensive. Frauds in the White House will say "But look at our low inflation number!."

    But, no more mean tweets.





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    Quote Originally Posted by The Booman View Post
    But, no more mean tweets.
    I think DG has trademarked that line. Is their a royalty payment due?

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