Could it be that MAGA wants to see the US default?

[multivita-man]

And it would be an economic disaster.

At minimum, it rattles markets and disrupts economic activity, even if it just lasts for a few days. Less optimistically, it causes capital flight among bigger investors who want to hedge their eggs in the US basket and spread their risk (India, Brazil, Europe, China?).

The US economy will no longer look reliable because something that was once unthinkable will have happened. Political polarization, mostly a loud annoyance up to this point, will be seen as an 'uncontained failure' that, going forward, has the potential to catastrophically impact the American and even the global economy. Investors and other countries cannot afford to be in that position. So if MAGAs are thinking, We'll be fine as long as we don't actually default on servicing the debt, they aren't really thinking about how this looks to investors, particularly those outside the U.S.

Worst-case scenario, this mess drags on due to infighting in both parties and there's a complete collapse in confidence in the economy and possibly sends us closer to an actual default, which would be the mother of all disasters.

Which there idiot Republicans see as a political win for them

It would weaken Joe Biden for sure. The reality is that voters in the middle, where elections are won and lost, will be furious with both political parties. I could even see this laying the groundwork for a 3rd party candidate that gets on the ballot in every state.

I obviously blame the MAGA party for doing what it always does, but I also wish Biden had done a better job of preparing for this shit. He knew it was coming and somehow still looked caught by surprise.

 

[Lesh]

The Biden's propaganda can cook the books and say whatever they want, but numbers do not lie.

Read my previous posts, shitstain. Number of bankruptcies is at 2008 level, and banks are not landing. In fact they tied their assets into government bonds that they can't get rid off unless they take huge hit. Do I need to remind you what happened to SVB and FRB, or you already forgot? Banks are battling down the hatches and hogging their bailout money instead of landing it out, and data shows the fastest deterioration in landing since 2008. When banks stop landing to small businesses, regardless of they're being healthy, and accumulating their loss reserves, just to stay in business, you can mimic Biden and scream from the top of your lungs that "economy is strong as hell", but nobody is buying it anymore. The numbers are clear, we are in the recession, and all of this is happening before recession "officially" begin, which means the only thing preventing them to admit it is that they need someone to blame it on, just like you're doing it now.

It looks like the Fed set us up for one hell of a crash by pumping trillions out, AND then crushing banks and the economy to hide it, potentially delivering a combination credit crunch/recession that already taking out jobs at 2008 levels before it has even started. All this paired with economically clueless administration that is requesting to spend even more money on things we don't need, which will cost us loss of jobs that would drag for years. Just like inflation is dragging for a third year now, despite they spend so much money to reduce it by passing "Inflation reduction Act" that didn't do Jack shit.

Of course, troll like you will refuse to even look at the numbers, and even if you look at them you wouldn't know what do they mean, so your only choice here is to keep repeating whatever hell the MSM tells you.

Who told you that bank failures equate to recessions

Smack em on the head

 

[Lesh]

At minimum, it rattles markets and disrupts economic activity, even if it just lasts for a few days. Less optimistically, it causes capital flight among bigger investors who want to hedge their eggs in the US basket and spread their risk (India, Brazil, Europe, China?).

The US economy will no longer look reliable because something that was once unthinkable will have happened. Political polarization, mostly a loud annoyance up to this point, will be seen as an 'uncontained failure' that, going forward, has the potential to catastrophically impact the American and even the global economy. Investors and other countries cannot afford to be in that position. So if MAGAs are thinking, We'll be fine as long as we don't actually default on servicing the debt, they aren't really thinking about how this looks to investors, particularly those outside the U.S.



It would weaken Joe Biden for sure. The reality is that voters in the middle, where elections are won and lost, will be furious with both political parties. I could even see this laying the groundwork for a 3rd party candidate that gets on the ballot in every state.

I obviously blame the MAGA party for doing what it always does, but I also wish Biden had done a better job of preparing for this shit. He knew it was coming and somehow still looked caught by surprise.

How do you prepare to deal with economic terrorists who don’t care what damage they cause?

 

[Ame®icano]

Hey moron. Your own chart shows inflation higher that 4.9 on NUMEROUS occasions over the last 40 years. That was your moronic claim

You're talking about current month, what about past two years, shitstain? When is the last time we had 9% inflation?

 

[Ame®icano]

Who told you that bank failures equate to recessions

Smack em on the head

Who said that bank failures equate recession? Did you read anything I wrote above?

You're so fucking illiterate that even drawing it with crayons wouldn't help you get it.

 

[JimH52]

A "clean" bill?

Give the filth everything they want?

No! They lost the election for the house. They better learn to live with it.

As obama said...elections have consequences.

The red wave became a pink trinkle down trump's leg. You bearly win the house and los t the WH and Senate....basically cause you allowed the loser trump to pick candidates.

 

[C_Clayton_Jones]

At minimum, it rattles markets and disrupts economic activity, even if it just lasts for a few days. Less optimistically, it causes capital flight among bigger investors who want to hedge their eggs in the US basket and spread their risk (India, Brazil, Europe, China?).

The US economy will no longer look reliable because something that was once unthinkable will have happened. Political polarization, mostly a loud annoyance up to this point, will be seen as an 'uncontained failure' that, going forward, has the potential to catastrophically impact the American and even the global economy. Investors and other countries cannot afford to be in that position. So if MAGAs are thinking, We'll be fine as long as we don't actually default on servicing the debt, they aren't really thinking about how this looks to investors, particularly those outside the U.S.

Worst-case scenario, this mess drags on due to infighting in both parties and there's a complete collapse in confidence in the economy and possibly sends us closer to an actual default, which would be the mother of all disasters.



It would weaken Joe Biden for sure. The reality is that voters in the middle, where elections are won and lost, will be furious with both political parties. I could even see this laying the groundwork for a 3rd party candidate that gets on the ballot in every state.

I obviously blame the MAGA party for doing what it always does, but I also wish Biden had done a better job of preparing for this shit. He knew it was coming and somehow still looked caught by surprise.

And how exactly should President Biden have ‘prepared.’

Indeed, the power of the purse is the sole purview of Congress.

The president shouldn’t be involved to begin with; which is why blaming President Biden is ridiculous.

This is a failure of the legislative branch, not the executive.

Presidents getting involved in Congressional budget negotiations is something else we’ve gotten wrong; something else contrary to the original intent of the Framers.

 

[JimH52]

Stopping democrat's spending us into oblivion IS a victory.

But not a word when trump was recording records in inflations.

 

[multivita-man]

How do you prepare to deal with economic terrorists who don’t care what damage they cause?

I Biden and the Dems made a very obvious strategic mistake in not aggressively getting out in front of the GOP in terms of messaging, and I say that based on Biden's apparent confusion on whether to negotiate. He spent weeks/months saying he wasn't going to negotiate with McCarthy, the budget's already been allocated, etc.

I think he assumed that McCarthy wouldn't be able to come up with a bill of their own. But they did. Granted, it's an awful bill, but I'm not hearing much about why specifically it's awful, just that it's bad and cuts things that the Dems don't want cut.

Now Biden has shown a willingness to negotiate, which has frustrated his own party, but more than that, he's wasted a lot of time. Now he's put himself and his party in a bit of a corner. I think what would have worked would have been a regular blitz on Sunday talk shows, on CNN, on whatever - shit, even Fox - and to have hammered away at a few basic points:

* All revenue starts in the House, which the GOP controls.
* Congress, not the President, can vote to issue new credit.
* Congress has always, always, always done this to pay our bills
* Dems did it every time Trump needed it.

That's really that needed to be said, over and over and over again. Wanna talk about spending? Fine, both parties pledge to come up with a compromise in the fall when they talk about the next FY budget. But until then, we pay our bills. Period.

Why this approach wasn't done is frankly political malpractice, and I'm beginning to have doubts about whether Biden can win against either Trump or DeSantis. I don't blame Biden alone, either. Schumer and Jeffries and the entire Dem leadership really should have seen this shit coming the night the House went to the MAGAs.

 

[Ame®icano]

But not a word when trump was recording records in inflations.

Huh? What are you talking about? These are Trump's inflation numbers.

 

[JimH52]

I don't know what the percentages are, but yeah, I think that there are some who are ignorant enough to think that it's best, politically and for them, that we default.

As ignorant and manipulated as they are, they have absolutely no idea what that would do to them, to their loved ones, and to America, both short and long term.

These people function at a "gee, it can't get any worse!" level, because they believe what they're told. It's sad to watch this ugly manipulation put us at such danger.

They defend Poootin and Russia. They really want to bring the US down to the level if c Russia. Unless moderate repubs step up, Margie Greene and the trump cult will force a default.

 

[Mac1958]

They defend Poootin and Russia. They really want to bring the US down to the level if c Russia. Unless moderate repubs step up, Margie Greene and the trump cult will force a default.

MTG is the base. She's what you see here.

 

[multivita-man]

And how exactly should President Biden have ‘prepared.’

I say it in #249. The messaging was a failure. The strategy was a failure. I blame Republicans obviously because they're the ones that pull this shit, but I didn't vote for Biden to get played; I voted for him to win these kinds of battles. FFS, he was vice president when Obama dealt with this shit not once but twice. I think the difference is that Obama was out in front of the cameras more and was a more aggressive campaigner for his causes. Biden's off on the other side of the world while we're days away from the x-date. Sure, foreign affairs is his job, but again, he's misplaying this.

Indeed, the power of the purse is the sole purview of Congress.

The president shouldn’t be involved to begin with; which is why blaming President Biden is ridiculous.

This is a failure of the legislative branch, not the executive.

Presidents getting involved in Congressional budget negotiations is something else we’ve gotten wrong; something else contrary to the original intent of the Framers.

That's not how people are going to see it, though. Biden is viewed as the leader of his party.

 

[JimH52]

I Biden and the Dems made a very obvious strategic mistake in not aggressively getting out in front of the GOP in terms of messaging, and I say that based on Biden's apparent confusion on whether to negotiate. He spent weeks/months saying he wasn't going to negotiate with McCarthy, the budget's already been allocated, etc.

I think he assumed that McCarthy wouldn't be able to come up with a bill of their own. But they did. Granted, it's an awful bill, but I'm not hearing much about why specifically it's awful, just that it's bad and cuts things that the Dems don't want cut.

Now Biden has shown a willingness to negotiate, which has frustrated his own party, but more than that, he's wasted a lot of time. Now he's put himself and his party in a bit of a corner. I think what would have worked would have been a regular blitz on Sunday talk shows, on CNN, on whatever - shit, even Fox - and to have hammered away at a few basic points:

* All revenue starts in the House, which the GOP controls.
* Congress, not the President, can vote to issue new credit.
* Congress has always, always, always done this to pay our bills
* Dems did it every time Trump needed it.

That's really that needed to be said, over and over and over again. Wanna talk about spending? Fine, both parties pledge to come up with a compromise in the fall when they talk about the next FY budget. But until then, we pay our bills. Period.

Why this approach wasn't done is frankly political malpractice, and I'm beginning to have doubts about whether Biden can win against either Trump or DeSantis. I don't blame Biden alone, either. Schumer and Jeffries and the entire Dem leadership really should have seen this shit coming the night the House went to the MAGAs.

Some of the draconian cuts that McCarthy and his kind want should be front and center. The public needs to know the hate repubs have for the poor and needy.

 

[JimH52]

MTG is the base. She's what you see here.

She does not deserve a middle initial. Margie Greene is the best she gets.

 

[multivita-man]

Some of the draconian cuts that McCarthy and his kind want should be front and center. The public needs to know the hate repubs have for the poor and needy.

Absolutely.

We're unfortunately at a disadvantage. The right wing owns the media.

 

[JimH52]

MAGA‘s are all Trump Humpers. They don’t know what they want. Making up shit is their standby. They have literally made everyone the enemy and are convinced that democrats, blacks, gays and any non white nationalist is the enemy. The economy is a distant topic.

They don't understand the economy. That is what is scary. They are putting a gun to the economy's head and cocking the trigger.

 

[multivita-man]

They don't understand the economy. That is what is scary. They are putting a gun to the economy's head and cocking the trigger.

I think Kevin McCarthy and some others actually do get it, but they neutered McCarthy as a condition of his becoming Speaker. McCarthy's crime isn't that he's stupid - he's not. It's that he has no fucking balls and is willing to sink the nation's economy to remain Speaker.

 

[struth]

Who told you that bank failures equate to recessions

Smack em on the head

bank failures are certainly a sign of recession

 

[Moonglow]

Only in the last year of his presidency. If you were honest you would mention what reason for that would be. I still haven't met a honest socialist...

Oblama had to deal with a giant loss of jobs, banks, and real estate.