Lol my phone news app just told me “biden has won more than 270 electoral votes and has been elected the next president of the united states”

We literally have communist style media

Lol nazi or stalinist

Lol i have the personality of a boomer so i get ya, I really ought to disable my news app

Monark I remember when trump won it on election night in a sea of red, then counting mysteriously stopped in the swing states, then they gradually turned blue after having massive leads.

I honestly find it funny that we’re supposed to believe Pennsylvania voted for a man that said he will end fossil fuels. 😂

Lol i guess Michigan GOP tried to send electors as well but the state said that it was a threat of violence to offer to escort them in and locked down the capitol.

💀

Mystika my mother was not fine without a respirator, she nearly died. The WHO does say the virus is airborne, so I’m really shocked you have that lax attitude.

It drove her to quit the profession

I understand you aren’t required, but it should be

My mother caught it

And i know you arent attacking my mother

Yes i get there arent enough of them i said thats why they cant be required- cost and availability

But they should be, it sucks

vbonecrusher you do realize that foreign entities buy us debt- right now almost half of it right? The ceiling that the US can spend is based on the reputation the dollar has like you say, yet when spending greatly exceeds GDP this leads to fragility of the dollar. Money is not unrelated to resources. Peter Schiff talks a lot about the fagility of the dollar in this context.

https://schiffgold.com/key-gold-news/yale-economist-warns-of-dollar-crash/

The more you spend with a disproportionate GDP the more dependent you become on foreign standing of the currency. The US could easily lose its comfort of reserve currency and at that point- yes- the US can go bankrupt not just the states.

So yes taxes are needed to fund government spending, you cant just keep outsourcing the resources backing the dollar and expect is to retain its reputation. When countries lose faith in the dollar and it no longer has reserve currency that debt will have devastating consequences to trade.

I get these wall street guys wolf richter and peter schiff are probably the exact people you have problems with, but I think they’re valid points.

Haha

I knew that would trigger you

Theyre valid points though the us is heavily dependent on international trade

For example the manufacturing base is 40% reliant on foreign material

No its 40%

The us can go bank rupt when it is unable to produce goods and services

Youre playing very loosely with the term bankrupt

Having money is worth nothing if you have no means of producing goods or services

Look at the weinmar republics fall

They only recovered by increasing tax and cutting spending with the nazis

What im saying is taxes must fund spending for the us to engage in trade

The us must engage in trade to produce goods and services

If you cant produce goods and services the country is broke

For all intents and purposes

You aren’t addressing the argument here

You aren’t addressing the point though

A country that cant produce goods or services for its people is bank rupt

🤡

Grim has 69 degrees

🤡🥳

No thats not my point read what i said

It is possible to fund federal programs without taxes but you damage the currency in the process

The only reason the us is able to maintain its large deficits is due to its reserve currency status

But hey who are you going to trust on finances- millionaires who invest and advise on it for a living or a kid getting into college debt

You still aren’t addressing my point

Stop cursing and address my point on trade

That doesn’t address the foreign standing of the currency

In order to produce we must trade

🤡

Japan has the largest investment of us debt actually

So lol

Lol im talking about international trade

Owning us debt

It all goes back go trade, and faith in the dollar as i said before

The us can maintain large deficits as long as other countries support it and they do due to the dollar being the worlds reserve currency

Its not circular its cause and effect

As i said the us is heavily reliant on foreign trade for manufacturing

40%

70% of the economy is products

They need manufacturing

It all goes back to deficits only work when countries have faith in the production

Lol stop cursing and address the argument

No you didnt im talking about cause and effect with manufacturing

Thats not all im saying

Im saying that collapse will have devastating effects on trade

Which will have devastating effects on manufacturing

Which will have devastating effects on the consumer products

Which is 70% of the economy

All those jobs will vanish

A country without production or goods is dead or effectively bank rupt

Again the same thing happened to the weinmar republic

And they only remedied it by hiking taxes and cutting expenses

And its an ideal example as the weinmar republic was burdened with foreign debt from the war

Quit cursing and address the point

Finally were getting somewhere lol

Now quit spamming

You just admitted resources are a constraint lol

Huh

Lol oh i think hes trying to dm me lol

Oh well im happy, he admitted resources are a constraint 🤡🍻

Ill talk to him lol he’s probably fuming

Eh he just blocked me when i tried to explain the broader picture I was trying to get across as to why the US cant just keep printing money to fund federal spending as its outsourcing currency

I guess since he blocked me i wont see his messages anymore anyway

Well @vbonecrusher1014 if you do unblock me and see me here again I think the reason you keep getting so mad is we agree on so much- yet have different interpretations. For an olive branch I get you are playing with a strict definition of bankruptcy and I agree in that monetary sense. Feel free to dm me later ig? I’m a not a financial expert by any means, but I’m tying my argument to production and the inverse effect taxes has on GDP- and why in the US’s case with the debt it already has it would cripple the country in both a trade sense and production sense to keep printing money rather than taking taking in shares of the production.

I mean its part of the reason I loved trump so much for taking so much of our manufacturing dependence back, the man is brilliant in my opinion and is able to see the risk it creates for situations like this.

Im not sure whether I should be laughing or sticking my head in the sand

I did

Well i tried to have discussion with you

Oh well

Lol well at least you finally are seeing my argument

Or not

Nope that last message just proved you didnt

No they decreased 18% after they actually took effect

They fell 74 billion

https://www.google.com/amp/s/amp.ft.com/content/081e6d25-8d67-4caa-918a-2765a66f0052

Even left wing media admits it

The media tries to put a spin on it

But they did fall

It then grew when the pandemic hit the us

The us is almost completely reliant on china for medical equipment