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Thread: The end of an economic illusion

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    The end of an economic illusion

    The end of an economic illusion -- but the government is delusional.

    Inflation’s return marks a tipping point. Demand has hit the brick wall of supply. Our economies are now producing all that they can. Moreover, this inflation is clearly rooted in excessively expansive fiscal policies. While supply shocks can raise the price of one thing relative to others, they do not raise all prices and wages together.

    A lot of wishful thinking will have to be abandoned, starting with the idea that governments can borrow or print as much money as they need to spray at every problem. Government spending must now come from current tax revenues or from credible future tax revenues, to support non-inflationary borrowing.

    Stimulus spending for its own sake is over. Governments must start spending wisely. Spending to “create jobs” is nonsense when there is a widespread labor shortage.

    Unfortunately, many governments are responding to inflation by borrowing or printing even more money to subsidize energy, housing, childcare, and other costs, or to hand out more money to cushion the blow from inflation for example, by forgiving student loans. These policies will lead to even more inflation....
    Tradition is not the worship of ashes, but the preservation of fire. ― Gustav Mahler

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    LOL. -- Government spending must now come from current tax revenues or from credible future tax revenues, to support non-inflationary borrowing.


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    Any time you give a man something he doesn't earn, you cheapen him. Our kids earn what they get, and that includes respect. -- Woody Hayes​

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    Nothing the Democrats are doing makes sense.

    They cannot provide a single reasonable excuse for the border, for the spending, for the class envy, for turning races against each other.

    They have nothing to campaign on but still 40% of Americans support them. What does that say about the 40% of Americans.
    Let's go Brandon !!!

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    They are partisan?
    Any time you give a man something he doesn't earn, you cheapen him. Our kids earn what they get, and that includes respect. -- Woody Hayes​

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    This is the craziest era in the US anyone has ever seen. The current administration is undoubtedly the worst administration in US history.

    The only thing remarkable about the current administration is the demonstration of previously unimaginable incompetence.
    When the people find that they can vote themselves money, that will herald the end of the republic.“ - Benjamin Franklin.


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    When rising inflation began to actually be noticed by the left I heard rumblings that more government spending stimulus (especially for low income people) was in fact the answer.

    Because then they could afford to buy more!
    My Revenge will be Success! - Donald J Trump

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    Quote Originally Posted by DGUtley View Post
    They are partisan?
    That would be one.

    Another might be a total lack of concern for their country.
    Let's go Brandon !!!

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    Quote Originally Posted by RMNIXON View Post
    When rising inflation began to actually be noticed by the left I heard rumblings that more government spending stimulus (especially for low income people) was in fact the answer.

    Because then they could afford to buy more!
    Excuse number one from Biden for inflation and shortages was that people had so much money to spend after COVID.
    We still have ultra-inflation and supply shortages but Biden want to give away more money.

    But the MSM never calls him on it?

    Main Stream Morons?
    Let's go Brandon !!!

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    Quote Originally Posted by carolina73 View Post
    That would be one.

    Another might be a total lack of concern for their country.

    The parties certainly have different vision for the country. The left wants something else.
    Tradition is not the worship of ashes, but the preservation of fire. ― Gustav Mahler

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    Quote Originally Posted by DGUtley View Post
    LOL. -- Government spending must now come from current tax revenues or from credible future tax revenues, to support non-inflationary borrowing.


    Good luck with that. Where will the ~1T represented in recent deficits (not counting extra COVID cash) be cut?
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