Crantag wrote:There is a precise term for this: supply-side economics.
It is good that you recognize that is what this bill is about (giving money to 'supplyers'). Supply-side economics is based on Say's Law, which states production creates it's own demand. It's nothing but an ideological justification for giving public money to the rich, and doesn't work. If there is no corresponding stimulation to demand, how is giving money to producers going to have the supposed intended effect? In reality, the extra money is likely to flow to the financial markets. There are a number of major companies which already earn comparable amounts on financial returns on assets than they do from operations.
Gross investment is the smallest component of GDP other than the trade deficit. In the US, we have something like 70% consumption, but only 14.5% gross investment. That's just behind Uruguay and just above Burma on a percentage basis. It is way out of balance and has been for a long time. By contrast, China has 40% gross investment. So if you don't believe that level of gross investment works, why would you be going to China?
Crantag wrote:The stock market is in an epic bubble. When I look at the real estate markets around me, all I see is bubbles. Better buckle up. Myself, I'm going to China; I'll try to hold on to as many Chinese Yuan as I can in the coming years.
Talk about bubbles. China has entire cities with few residents. The real estate bubble there is epic. We have bust towns like Detroit, but we aren't building whole new towns the size of Detroit with few if any residents just to speculate on property. Some cities in the US have recovered and are in bubble territory--e.g., San Francisco, New York, Vancouver (CA), etc. However, the suburbs are still in much fairer price ranges by comparison. If there is a bust in the real estate market in the US, it will likely be in the big cities.
China Ghost CitiesWE BROKE INTO China's Italian GHOST TOWNChina's Largest Ghost City?Why I REFUSE to buy Property in ChinaGHOST CITY - Inside the Chinese Housing BubbleGodstud wrote::lol: How does a snot-nosed troll who brags about his GPA, and lives in their mom's basement, know fucking anything about anything?
My mom is a liberal, lives in a retirement community, doesn't have a basement, and essentially depends on my sister's excessive kindness for her lifestyle. I live in a 3150 sq. ft. 4-bedroom 4-1/2 bathroom home that I own, with 30 solar panels so that I don't have to pay the local utility for outrageously priced electricity. I'm a skeptic of anthropogenic climate change theory, but I believe in federal tax credits and state cap-and-trade taxes and how to take advantage of those loopholes or avoid those penalties as it suits me.
Godstud wrote:Again, you don't need to live somewhere to learn about it.
Yes, but why would you care? I'd debate someone like Decky on the merits of socialism versus capitalism all day long, but I'm not going to put myself to becoming an expert on UK tax law to try and tell people in the UK how they should live. Heck, I have dual citizenship in the US and Ireland, but I do not vote in Ireland, because I do not live there. I'm not an expert in their tax laws either.
Godstud wrote:What would you know anyways, since there's no evidence that you're even American.
Well, clearly I write in American English. I live in the United States. I was born in the United States. My parents were US citizens. My father's patralineal ancestors pre-date the United States in the colonies. My mother's parents were naturalized citizens, father from the UK and mother from Ireland. So it is quite possible I'm not an American. However, I think the probability suggests I'm an American.
Godstud wrote:You're probably a Russian troll, as well as being a person who has no real argument so you discuss the inconsequential to draw attention away from your lack of argument.
I'm not a Russian troll, but I can speak about 200 words in Russian and string together some rudimentary sentences. My party trick is that I can do it with almost no trace of an accent, which tends to blow Russians away. However, it doesn't take long for them to figure out I don't know too many words.
Godstud quoting Forbes for some reason wrote:CBO: Senate Tax Bill Is Even Worse For Low-Income People Than Thought
Low income people don't pay taxes. So I could really care less.
Godstud wrote:CBO: Senate Tax Bill Is Even Worse For Low-Income People Than Thought
Which has nothing to do with the tax bill other than you don't have to pay a massive tax penalty if you don't buy health insurance.
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