Why is America’s economy beating forecasts?

Discussion in 'Economics & Trade' started by LafayetteBis, Nov 9, 2020.

  1. LafayetteBis

    LafayetteBis Well-Known Member Past Donor

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    From the Economist here, excerpt:
    The fact of the matter is obvious - the US is not on the brink of Economic Collapse. And not by a long-shot.

    And yet, it must get its act together, meaning Biden has his job cut-out for himself. Donald Dork is not going to help him one iota. DD is a "sick man", and has been for quite some time. What happens next should come as no surprise - it was forecast by psychiatrists long before he won the presidency. See here: Psychology Today (The Presidents Personality) (The article actually appeared first before his election in 2015.)

    It seems that the second Covid-crest may have arrived but may be tempering. If so, then further deaths and damage to the US economy might be avoided. Let's hope so. (Most of Europe is on lock-down.)

    But what cannot be avoided is the fetid smell of the post-election political finagling that Trump and McConnell will employ to stymie any action by a Biden government in office.

    Count on it - the smell is already in the air ...



     
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  2. Kode

    Kode Well-Known Member

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    The stock market seems to LOVE Biden.
     
  3. bringiton

    bringiton Well-Known Member

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    I.e., printing trillions of dollars and throwing most of them at billionaires....
     
  4. Kode

    Kode Well-Known Member

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    Yup. Isn't it interesting how so many people say and believe free markets are the way to prosperity and fairness, yet they think it's fine for the fed to meddle in the stock market and drive it up, up, up with QE and similar policies. This market should have had a bear phase six years ago to keep it all in balance, but the Fed prevented it.
     
  5. bringiton

    bringiton Well-Known Member

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    It's the reductio ad absurdum of the debt money system: like an opiate drug, we need more and more debt money -- and thus more and more debt -- just to not feel sick.
     
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  6. kazenatsu

    kazenatsu Well-Known Member Past Donor

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    sounds like an addiction to me, one that is ultimately not sustainable in the long-term
     
  7. bringiton

    bringiton Well-Known Member

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    It is precisely an addiction, and is definitely not sustainable in the long term.
     
  8. LafayetteBis

    LafayetteBis Well-Known Member Past Donor

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    Reference please ...
     
  9. Quadhole

    Quadhole Well-Known Member

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    I think it is Collapsing, just not on MSM, FOX, CNBC, and youtube. Nor does the BIS, or anyone else put out REAL numbers. Every time things get a little worse, they just adjust the stats to fit the economy. Have too much unemployment circa 1995, just create a loophole that removes those that have been laid off more than 6 months. Dont count them anymore. 2012 ????? Add in the Part time as EMPLOYEED. Someone has a job 6 hours a week, yep, their employed.

    Deflation is certain items drives up assumed Valued, like Homes. o people have a house they bought in 2012 during BAD TIMES at 150K, today it is worth on PAPER 225K so they get a cash out refi. No different then 2006 - 2009.
    We had an economic collapse in 2008 that was created by the politicians and bankers. They did not fix it, they papered it over. Thus, yes, we have an economic collapse coming.
    At some point the dollar fails, that is a fact, and soon
     
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  10. Quadhole

    Quadhole Well-Known Member

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    Which part, that is cant last ? Everyone that study's economics knows that no paper can last forever. The FED is already panicked, that is why you hear so many of them, and past FED people out there cheerleading to ALLOW US to fix it with MORE TOOLS> They want to buy stocks directly and more mortgages. Pelosi, Schumer, McConnell, Trump, Biden, none of them have a clue what is happening there because they are busy preaching Garbage about racism, hate, Covid, and other not so important things...

    All while the Cabal steals even more. Just yeasterday Janet Yellen was mentioned for Treasury Secretary. SO which FED MEMEBER should we hire to destroy the country ? Summers ? Maybe the Maestro Again ?
     
  11. Capt Nice

    Capt Nice Well-Known Member

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    Two things help. The outcome of the Presidential election and the obvious good news that we appear to have a vaccine for the virus.
     
  12. drluggit

    drluggit Well-Known Member Donor

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    I suppose if Biden chooses to lock the country down again, that the collapse will be entirely his fault then. Dang....
     
  13. Pag

    Pag Active Member

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    Intresting view. Just out of curiosity how didn't they fixed it. Just some more explanation on how did they passed 2008.
     
  14. LafayetteBis

    LafayetteBis Well-Known Member Past Donor

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    Blah, blah, blah. Try harder.

    Let's see some real, factual argumentation. The above is just more hearsay ...
     
  15. LafayetteBis

    LafayetteBis Well-Known Member Past Donor

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    That outcome would be certainly disastrous. Which is why it will not happen.

    I did happen in the mid-1920s and brought about a National Catastrophe. So, yes, it is indeed possible.

    But is it "doable", that is will a government allow it to happen because it is helpless.

    That aint gonna happin because the consequences are far too drastic ...
     
  16. bringiton

    bringiton Well-Known Member

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    Being disastrous does not keep disasters from happening, sorry.
    It will happen. That is certain. The only question is when and how. The US dollar's privileged status as world reserve currency is unjust and unsustainable, and it will end suddenly and catastrophically, as all such confidence-based scams do. Once people in other countries realize there is nothing worth buying with $US at current prices, it will collapse, and dollar holders will stampede for the exits.
     
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