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[Ogodei]

He actually wasn't strictly wrong about that "better stock market covers the national debt" thing, he just way oversimplified.

Basically if your national economic growth rate is higher than the interest rate on T-Bills, you can effectively sustain infinite debt because the growth in government revenue (assuming that taxation is adequately capturing that growth, such that economic growth is equal to revenue growth as a percentage), as fast or faster than what it costs to service government spending.

 

[sangreal]

If I were in charge of sending out renewal notices for an insurance company this year, I would make it very clear that the increase in your premium is because President Oompa Loompa is working on destroying the ACA. Guessing they won’t actually send letters saying that, but it’s what I would do.

They won’t but they had no problems getting he message out that the ACA was to blame for every premium increase. Of course they also had help from companies that would reduce their share and blame the ACA etc

 

[Dan]

He actually wasn't strictly wrong about that "better stock market covers the national debt" thing, he just way oversimplified.

Basically if your national economic growth rate is higher than the interest rate on T-Bills, you can effectively sustain infinite debt because the growth in government revenue (assuming that taxation is adequately capturing that growth, such that economic growth is equal to revenue growth as a percentage), as fast or faster than what it costs to service government spending.

That's a really big assumption.

 

[Ogodei]

That's a really big assumption.

In the broad-strokes of macroeconomics, it's generally held to be true. If GDP is going up and taxation policy stays the same, then revenue will go up by roughly that amount, because the domestic product is taxed at some or multiple parts of the cycle.

 

[Stinkles]

lol, and you base that on what?

Oh right, you are just posting your wet dreams.

Remember when laughing stock flew too close to the sun and pretended to not be a troll for a couple of weeks? It always felt like watching someone with Tourettes trying not to blurt out f-bombs.

 

[barber]

In the broad-strokes of macroeconomics, it's generally held to be true. If GDP is going up and taxation policy stays the same, then revenue will go up by roughly that amount, because the domestic product is taxed at some or multiple parts of the cycle.

The key problem is that GOP economics basically talk about changing the taxation to create a growth that will outperform that decrease in revenue. Otherwise yeah, it is mostly about debt as percentage of GDP, debt is not always that bad.

 

[Poodlestrike]

I hate that whenever industries like that get upset at republicans they just write an angry public letter, but when they get upset at democrats they launch a multi million dollar ad campaign against them.

This is because the corporations are aware that only one of the parities is actually pro-corporate, despite what some will say.

 

[Dan]

In the broad-strokes of macroeconomics, it's generally held to be true. If GDP is going up and taxation policy stays the same, then revenue will go up by roughly that amount, because the domestic product is taxed at some or multiple parts of the cycle.

Sure, although the bolded is not intended to remain. Trump's statement was reductive to the point of being completely misleading. Of course, generally a stronger economy should result in higher revenues, but that's also not really the desired policy by the Republicans in power.

 

[Ogodei]

The key problem is that GOP economics basically talk about changing the taxation to create a growth that will outperform that decrease in revenue. Otherwise yeah, it is mostly about debt as percentage of GDP, debt is not always that bad.

It's more about the idea that you can fund debt forever if the interest payments are sustainable, and if you A) have the debt denominated in your own currency such that you control the means through which your debt is valued and B) keep the interest rate low enough that growth in your economy outpaces the service-costs, then your national debt becomes meaningless.

A) is the reason why the Eurozone countries debt was such an issue, because their issuance of debt was not tied to the money supply. That's why it's also an issue for developing countries who cannot denominate their debt in their own currency (because there's no foreign demand to hold reserves of their currency), which is where hyperinflation tends to come from, when you try to print your way out of debt that you don't control.

Paul Krugman wrote a lot about it until 2015 or so, when it finally became clear that we were past the post-recession stagnation, deriding the notion of "Phantom Bond Vigilantes," which were a boogeyman created by the Right to justify why the US National Debt was bad (because the debt isn't bad since it fits these rules, but if some exogenous factor were to occur to force interest rates up then the system would come crashing down, but the so-called Bond Vigilantes never materialized).

 

[RDreamer]

He actually wasn't strictly wrong about that "better stock market covers the national debt" thing, he just way oversimplified.

Basically if your national economic growth rate is higher than the interest rate on T-Bills, you can effectively sustain infinite debt because the growth in government revenue (assuming that taxation is adequately capturing that growth, such that economic growth is equal to revenue growth as a percentage), as fast or faster than what it costs to service government spending.

That assumes the stock market is a 1:1 reflection of the economy and it often isn't really.

That's also ignoring that he didn't just say the stock market is doing well and that means our debt doesn't matter as much because the economy is doing well. He used real numbers and actually seemed to assume we've gained back 5-9 trillion dollars out of nowhere because of the stock market.

 

[tuxfool]

That assumes the stock market is a 1:1 reflection of the economy and it often isn't really.

That's also ignoring that he didn't just say the stock market is doing well and that means our debt doesn't matter as much because the economy is doing well. He used real numbers and actually seemed to assume we've gained back 5-9 trillion dollars out of nowhere because of the stock market.

Yeah. To make a direct correlation of the stock market to the economy, presupposes that all the extra revenue is entering the direct economy, instead of sitting under somebody's figurative mattress (even then it won't be a 1:1 correlation).

 

[Ourobolus]

wait if stocks are down then what's going on with the national debt


EDIT: lol literally didn't read the last five posts, probably should refresh more often

 

[gaugebozo]

You guys are way overthinking Trump's understanding of the economy. He knows people talk about the stock market when they talk about the economy, so he heard about more money going into the stock market and incorrectly connected it with the debt. Notice he's not even saying that revenues have gone up, he's saying the debt went down.

 

[Diablos]

Fuck Tim Murphy. Scum. Seems like working for him was a living hell.

Capitol Hell: Inside Rep. Tim Murphy's Toxic Congressional Office https://www.huffingtonpost.com/entry/tim-murphy-toxic-office_us_59e0b4c9e4b0a52aca173676

It’s also even more disturbing since he was so fixated on mental health. Why, so you can know how to break people? Seems like it.

There’s no way Paul Ryan didn’t have some kind of idea about what his office was like. Not with that kind of turnover.

 

[Joe]

"Trump 1% Doctrine"

https://twitter.com/matthewstoller/status/919241872798900224

He's an obvious bullshit artist so you can't take him seriously. He's also the President so you have to on the 1% chance he means it.

U.S. gov't is not leaving Puerto Rico right now, Trump is just being a troll. Or is he? 1% chance.

Not going to blow up Obamacare or Iran deal. Or is he? 1% chance. North Korea?

There's no answer to this. I just wanted to put a name on it. #TrumpOnePercentDoctrine

I think this is a good way to frame how most people are feeling.

The constant consideration of several important, new, and vastly separate issues through the three distinct lenses of "he's just a dumbfuck", "he's just bullshitting", and "he's serious and consciously malicious", simultaneously, is exhausting.

However, I truly believe that exhaustion is a key goal of the Trump administration so persistence is necessary.

 

[NYCmetsfan]

"Trump 1% Doctrine"

https://twitter.com/matthewstoller/status/919241872798900224


I think this is a good way to frame how most people are feeling.

The constant consideration of several important, new, and vastly separate issues through the three distinct lenses of "he's just a dumbfuck", "he's just bullshitting", and "he's serious and consciously malicious", simultaneously, is exhausting.

However, I truly believe that exhaustion is a key goal of the Trump administration so persistence is necessary.

you didn't tell me this was stoller, ugh

 

[Joe]

you didn't tell me this was stoller, ugh

Why is that bad? Serious question. Just started following him, he seemed interesting.

 

[Bonen no Max'd]

Why is that bad? Serious question. Just started following him, he seemed interesting.

Stoller is really interesting when you first start reading him and becomes increasingly tedious once you realize how one-note most of his analysis of basically everything is. He can basically only view things through the lens of antitrust vs monopoly power.

 

[SatelliteOfLove]

Fuck Tim Murphy. Scum. Seems like working for him was a living hell.

Capitol Hell: Inside Rep. Tim Murphy's Toxic Congressional Office https://www.huffingtonpost.com/entry/tim-murphy-toxic-office_us_59e0b4c9e4b0a52aca173676

It’s also even more disturbing since he was so fixated on mental health. Why, so you can know how to break people? Seems like it.

There’s no way Paul Ryan didn’t have some kind of idea about what his office was like. Not with that kind of turnover.

Neat fact: Ryan has nearly no power other than breathing in reguards to Speakership by now. If anyone wanted that job, he'd be gone. Ergo, monsters run wild in the GOP House caucus without much risk of crackdown on all but the worst actions.

 

[whyamihere]

Hey remember how 700,000 people, mostly of color, live in Washington DC and have no voting representation in government? Imagine a similar situation in another country.

 

[B-Dubs]

Neat fact: Ryan has nearly no power other than breathing in reguards to Speakership by now. If anyone wanted that job, he'd be gone. Ergo, monsters run wild in the GOP House caucus without much risk of crackdown on all but the worst actions.

Boehner could barely hold them together, is this a shock to anyone? The GOP paid the ultimate price for power, they let the lunatics run the asylum.

Hey remember how 700,000 people, mostly of color, live in Washington DC and have no voting representation in government? Imagine a similar situation in another country.

Yea. The whole thing is madness. A real push needs to be made to fix this shit.

 

[Lucky Forward]

Bannon: Trump Will ‘Win With 400 Electoral Votes In 2020’ Re-Election Bid

Former White House Chief Strategist Steve Bannon said President Donald Trump will win re-election in 2020 by an overwhelming success in electoral votes.

“President Trump is not only going to finish this term, he’s going to win with 400 electoral votes in 2020,” Bannon said at the Values Voter Summit in Washington on Saturday.

Despite Bannon’s latest display of confidence in Trump, his remarks at the summit come three days after Vanity Fair reported a source saying he’s told people that Trump only has a 30 percent chance of finishing his first term as president.

 

[whyamihere]

How would you even get Trump to 400 lol

Minnesota, 2 more Maine EVs, New Hampshire, Virginia, Colorado... New Mexico??

?????

That's 375 I think.

 

[Scirrocco]

Bannon: Trump Will ‘Win With 400 Electoral Votes In 2020’ Re-Election Bid

Trump heard about his 30% remark, demanded he make a statement, just like Rex. Clockwork.

 

[KirbYuuYuu]

Russia and voting law changes will help

 

[pigeon]

Stoller is really interesting when you first start reading him and becomes increasingly tedious once you realize how one-note most of his analysis of basically everything is. He can basically only view things through the lens of antitrust vs monopoly power.

I think peak Stoller was when he said he was lukewarm on Trump originally but became more in favor of him after the election because he thought Trump would do something about corporate concentration.

 

[whyamihere]

Russia and voting law changes will help

lol no.

 

[Bonen no Max'd]

hot take: progressives should nationalize sport leagues and turn all teams/franchises into locally owned coops

I think peak Stoller was when he said he was lukewarm on Trump originally but became more in favor of him after the election because he thought Trump would do something about corporate concentration.

omg I missed this but I am somehow not surprised

 

[kess]

But Bannon said Trump wasn't going to finish his term

 

[tuxfool]

I think peak Stoller was when he said he was lukewarm on Trump originally but became more in favor of him after the election because he thought Trump would do something about corporate concentration.

It is incredible how these dipshits can even put their shoes on in the morning. Their entire ability to assess cause and effect is utterly broken, they have less capacity in that regard than your average primate.

 

[Bonen no Max'd]

How would you even get Trump to 400 lol

Minnesota, 2 more Maine EVs, New Hampshire, Virginia, Colorado... New Mexico??

?????

That's 375 I think.

I gave him all of those plus Nevada and Illinois and that's 376. What's next, Oregon? Connecticut? New Jersey? lol

 

[Abinash117]

I think peak Stoller was when he said he was lukewarm on Trump originally but became more in favor of him after the election because he thought Trump would do something about corporate concentration.

I don't know who that is, but that is very, very stupid belief if he thought that. Why do some keep forgetting that Trump is rich, and owns many companies? Why would he undermine himself?

 

[Loxley]

Bannon: Trump Will ‘Win With 400 Electoral Votes In 2020’ Re-Election Bid

Someone got an angry phonecall from Papa Trump.

 

[GoldenEye 007]

lol no.

Or a candidate that is able to Perot the Dem ticket.

 

[Mark Andrew]

Maybe next time he’ll fulfill his promise of winning New York and California.

 

[AntoneM]

He actually wasn't strictly wrong about that "better stock market covers the national debt" thing, he just way oversimplified.

Basically if your national economic growth rate is higher than the interest rate on T-Bills, you can effectively sustain infinite debt because the growth in government revenue (assuming that taxation is adequately capturing that growth, such that economic growth is equal to revenue growth as a percentage), as fast or faster than what it costs to service government spending.

Even strictly speaking he was wrong. Stock market has nearly noting to do with federal debt outside of capital gains taxes.

 

[VendettaRed07]

Hey remember how 700,000 people, mostly of color, live in Washington DC and have no voting representation in government? Imagine a similar situation in another country.

The best chance is to become part of Maryland or Virginia so they can get a House Rep and have influence on who they vote for in the senate, etc. Statehood with two extra senators isn’t going to happen.

 

[B-Dubs]

Maybe next time he’ll fulfill his promise of winning New York and California.

Yea, and I'm going to find a winning lotto ticket on the subway tonight.

 

[RustyNails]

He actually wasn't strictly wrong about that "better stock market covers the national debt" thing, he just way oversimplified.

Basically if your national economic growth rate is higher than the interest rate on T-Bills, you can effectively sustain infinite debt because the growth in government revenue (assuming that taxation is adequately capturing that growth, such that economic growth is equal to revenue growth as a percentage), as fast or faster than what it costs to service government spending.

Lol

 

[Brawly Likes to Brawl]

Hey remember how 700,000 people, mostly of color, live in Washington DC and have no voting representation in government? Imagine a similar situation in another country.

How could I forget, I live there and spent last year listening to milenials from swing states brag about how above it all they are for never voting.

 

[Teggy]

Wat

(I’m assuming democrats in SW Virginia are just Republicans who haven’t changed their party yet anyway. )

 

[AntraxSuicide]

hot take: progressives should nationalize sport leagues and turn all teams/franchises into locally owned coops

As bad as various sports owners are, I'm not sure I want to see what management of a New England team run by Bostonian sports fans looks like.

Or God, Tampa Bay?

 

[wutwutwut]

Bannon: Trump Will ‘Win With 400 Electoral Votes In 2020' Re-Election Bid

Have we not understood yet that Bannon is really, really stupid?

 

[Ogodei]

I gave him all of those plus Nevada and Illinois and that's 376. What's next, Oregon? Connecticut? New Jersey? lol

Dial the highest Clinton rated states that it takes to get to 139 (which would be more than 400 for Trump).

Trump would have to win the following Clinton states:

Minnesota, New Hampshire, Maine at-large, Nevada, Colorado, New Mexico, Virginia, Oregon, Washington, Delaware, Maine 1, Rhode Island, Connecticut, and New Jersey.

 

[kirblar]

As bad as various sports owners are, I'm not sure I want to see what management of a New England team run by Bostonian sports fans looks like.

Or God, Tampa Bay?

Two words:

Eagles. Fans.

 

[Zona]

Yea, and I'm going to find a winning lotto ticket on the subway tonight.

It’ll happen right after NYC gets taken out by a tsunami, and the West coast of California slides into the ocean after an earthquake, three days before the election. Otherwise lol.

 

[FloydtheFathead]

As bad as various sports owners are, I'm not sure I want to see what management of a New England team run by Bostonian sports fans looks like.

Or God, Tampa Bay?

Every wide receiver will be scrappy and a gym rat..

*cough white cough cough*


And Tampa Bay.. the teams would need to be tested for meth routinely I feel.

 

[smokeandmirrors]

Have we not understood yet that Bannon is really, really stupid?

people really desperately want these right wingers to be smart. lol

 

[ShadowSwordmaster]

Have we not understood yet that Bannon is really, really stupid?

The 30% comment should have been a dead give away.

 

[ArkhamFantasy]

I dont know if this is the right place to ask this, but i have a question about Human Resources.

Do they exist basically to try and prevent employee's from reporting things to their lawyer or to the police? Basically a self regulating entity within the company itself?

Some stories i've read lately are leading me to believe that HR is not a great place to report things to....