The Fed Hikes Interest Rates to 22-Year-High to Combat Biden's Hyperinfation;<br>Even With This Strong Medicine, Predicts Inflation Will Be With Us for a Long Time

The Fed Hikes Interest Rates to 22-Year-High to Combat Biden's Hyperinfation;
Even With This Strong Medicine, Predicts Inflation Will Be With Us for a Long Time

It's a conspiracy theory that an excessive supply of government-created money causes the value of that money to go down and for prices of goods and services to go up.

That's just White Supremacy Economics, straight-up.

The Federal Reserve approved a much-anticipated interest rate hike that takes benchmark borrowing costs to their highest level in more than 22 years.
The quarter percentage point increase will bring the fed funds rate to a target range of 5.25%-5.5%.
While policymakers indicated at the June meeting that two rate hikes are coming this year, markets are pricing in a better-than-even chance that there won't be any more moves this year.
Chair Jerome Powell said the central bank will make data-driven decisions on a "meeting-by-meeting" basis.

Biden's Hyperinflation will be with us "for years," Powell predicted.

Federal Reserve Chairman Jerome Powell said he believes high inflation will be with us until 2025, even with record high-interest rates, in a Wednesday press conference.
Powell does not see the inflation rate returning to the normal level of 2% until 2025, far sooner than when he believes the Fed will start lowering rates again, he said in a press conference concluding the July Federal Open Market Committee meeting. The remarks follow the Wednesday announcement prior to the press conference by the Fed that it would raise its benchmark federal funds rate by 25 basis points to a range of 5.25% and 5.50%, reaching the highest level since 2001, according to the Fed press release.

The progressive, Democrat-aligned investment group Blackrock warns of "rollercoaster inflation" and a recession despite very nominal "full employment."

The economy could be in for chaos, as the US risks rollercoaster inflation and an unusual "full employment recession," BlackRock warned.
Though inflation has eased significantly from its 41-year-high last summer, there are conflicting pressures in the economy that could potentially make prices volatile in the future, the asset manager said in a note on Monday. That's because consumers are shifting their spending from goods to services, which is driving goods deflation. But at the same time, the labor market remains tight, which is driving wage inflation as workers push for higher pay.
"The result? A rollercoaster trajectory over the next quarters before inflation likely settles near 3% -- well above the Fed's 2% target," strategists said.
That rollercoaster could potentially spell bad news for stocks: High inflation can weather corporate profits by increasing costs for firms. Meanwhile, falling inflation can weigh on goods prices, which is another headwind for profits.

Posted by: Ace at 03:06 PM

Comments

(Jump to bottom of comments)

1 1st?

Posted by: Bulgaroctonus at July 27, 2023 03:07 PM (xTRSc)

2 Who could have predicted Bidenflation?

Posted by: mr tmz at July 27, 2023 03:07 PM (rJ48h)

3 Inflation is always and everywhere a monetary phenomenon.

Posted by: Zombie Milton Friedman! at July 27, 2023 03:08 PM (2tUFv)

4 Of course it will. They are doing everything to keep anything from countering it.

Posted by: Aetius451AD Work Laptop at July 27, 2023 03:08 PM (zZu0s)

5 Yesssss!

Posted by: Bulgaroctonus at July 27, 2023 03:08 PM (xTRSc)

6 Hyperinflation sounds so cool

Posted by: ... at July 27, 2023 03:09 PM (KaovF)

7 Who could have possibly predicted that inflation would be with us a long time?

Posted by: blaster at July 27, 2023 03:10 PM (Jk9SN)

8 God has blessed Jimmy Carter with getting to live to see him recognized as the 2nd worst president in memory, but really #3 but no one is safe to talk about the Obumbles disaster for at least 50 years.

Posted by: Bete at July 27, 2023 03:10 PM (BRhwL)

9 Inflation will be back below 2% after 12 months of the second Trump Presidency. We'll also again be net exporters of energy.

Posted by: Roy at July 27, 2023 03:10 PM (wQWJv)

10 "... inflation returning to 2% by 2025. In other news, pigs flew today."

Posted by: Gaff at July 27, 2023 03:10 PM (jPS2y)

11 Filed under "I have a bridge to sell you"...

TheBlaze
@theblaze
Jean-Pierre says Joe Biden would not pardon Hunter Biden.
Video: twitter.com/theblaze/status/1684639398350999552
11:58 AM · Jul 27, 2023

Posted by: BeautifulHillaryClinton at July 27, 2023 03:10 PM (MFZ8i)

12 Ace is doing the 1 hour time warp again

Posted by: Grumpy and Recalcitrant at July 27, 2023 03:11 PM (nRMeC)

13 Bidenomics suck.

Posted by: runner at July 27, 2023 03:11 PM (djUq5)

14 I just got paid the princely sum of .03 cents interest on my checking account for the month thanks to the Fed!

Posted by: Mister Scott (Formerly GWS) at July 27, 2023 03:11 PM (ncXxy)

15 Plus bellbottoms are apparently back, so why not the misery index as well.

Posted by: Bete at July 27, 2023 03:11 PM (BRhwL)

16 Time to Volkerize.

13% mortgages.

Posted by: Deplorable Ian Galt at July 27, 2023 03:11 PM (ufFY8)

17 You could get a good start on getting inflation under control by unleashing the oil and gas industry to, in the words of the Great Mama Bear, Drill Baby Drill.

You get gas back to 2.25 a gallon and a whole lot of dominoes fall.

Posted by: Thomas Bender at July 27, 2023 03:11 PM (rc3Z7)

18 I hate this mutherfucker.

Posted by: eleven at July 27, 2023 03:11 PM (iziT8)

19 Posted by: Mister Scott (Formerly GWS) at July 27, 2023 03:11 PM (ncXxy)

LUXURY!!!

Posted by: Yorkshireman #2 at July 27, 2023 03:11 PM (/HDaX)

20 there is no inflation but if there were it would be good for you.

Posted by: Ripley at July 27, 2023 03:12 PM (KrJTL)

21 Sorry to swear. I have cut way down.

Posted by: eleven at July 27, 2023 03:12 PM (iziT8)

22 1 1st?
Posted by: Bulgaroctonus at July 27, 2023 03:07 PM (xTRSc)

5 Yesssss!
Posted by: Bulgaroctonus at July 27, 2023 03:08 PM (xTRSc)

Great, kid -- don't get cocky!

Posted by: Doof at July 27, 2023 03:12 PM (StUJj)

23 @18

>>I hate this mutherfucker.

Well, he hate's you more, as well as just about everyone not with the Donk program.

Posted by: Thomas Bender at July 27, 2023 03:13 PM (rc3Z7)

24 There is a sequel to the comedic novel The Mouse That Roared (don't recall its name, not looking it up) where the Duchy of Grand Fenwick, having accidentally defeated the US, is now experiencing terrible inflation due to the large amount of US dollars they got for their victory. This sets up the last novel of the trilogy The Mouse on the Moon. It's been 4 decades since I read the series and that bit stayed with me for some reason.

Posted by: Polliwog the 'Ette at July 27, 2023 03:13 PM (nC+QA)

25 I was assured that we had whipped inflation now?

Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:13 PM (LvTSG)

26 The first quoted article is a little ambiguous. It means that the second rate hike is priced as unlikely, the first of the two is the one that just happened.

Posted by: Red Turban Someguy - The Republic is already dead! at July 27, 2023 03:13 PM (eYoxG)

27 You could get a good start on getting inflation under control by unleashing the oil and gas industry to, in the words of the Great Mama Bear, Drill Baby Drill.

You get gas back to 2.25 a gallon and a whole lot of dominoes fall.
Posted by: Thomas Bender at July 27, 2023 03:11 PM (rc3Z7)

This is my position as well but you still have to quit printing money. Raising rates without curtailing spending is a recipe for disaster.

Posted by: polynikes at July 27, 2023 03:13 PM (MNhXM)

28 Powell does not see the inflation rate returning to the normal level of 2% until 2025,

“That ain’t necessarily how it would be,” Hap said weightily from the depths of his ninth-grade education.

Posted by: Additional Blond Agent, STEM Guy at July 27, 2023 03:13 PM (/HDaX)

29 Is it still $20 like downtown?

Posted by: Commissar of Plenty and Lysenko stuff at July 27, 2023 03:14 PM (X66Zg)

30 "Inflation is always and everywhere a monetary phenomenon, in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output.”

St. Milton Friedman

Posted by: a.moron at July 27, 2023 03:14 PM (tu3iY)

31
'Misinflation', i.e. not real, they say.

Posted by: Mike Hammer, etc., etc. at July 27, 2023 03:14 PM (48u4S)

32 @227

>>This is my position as well but you still have to quit printing money. Raising rates without curtailing spending is a recipe for disaster.

Of course, there are a whole basket of things that have to happen, but if a fill up costs 25 bucks instead of 60 buck, in the immortal words of The Meat Puppet, that's a big f**king deal.

Posted by: Thomas Bender at July 27, 2023 03:15 PM (rc3Z7)

33 “That ain’t necessarily how it would be,” Hap said weightily from the depths of his ninth-grade education.
Posted by: Additional Blond Agent, STEM Guy at July 27, 2023 03:13 PM (/HDaX)

=====

Holy shit, Additional Blond Agent, I think of this quote all the time lately.

Posted by: Jordan61 at July 27, 2023 03:15 PM (DRSnL)

34 Jan 22 2025: Fed chairman is pushing rates above 6% in an effort to slow inflation cause by Trump's failed economic policy.

Posted by: Cat Ass Trophy at July 27, 2023 03:15 PM (slgIg)

35 Well now that Mumbles McDiaperfiller has cured cancer, maybe he can shift his steely gaze toward the problem of inflation.

By cracky.

Posted by: Boxx Culvert, 2023 pronouns: Shad/dap at July 27, 2023 03:16 PM (pScWL)

36 Is it still $20 like downtown?
Posted by: Commissar of Plenty and Lysenko stuff at July 27, 2023 03:14 PM (X66Zg)

Strip club dancers have had no price increases in decades.

Posted by: polynikes at July 27, 2023 03:16 PM (MNhXM)

37 Inflation is always and everywhere a monetary phenomenon.
Posted by: Zombie Milton Friedman! at July 27, 2023 03:08 PM (2tUFv)

MILTON FRIEDMAN ISN'T RUNNING THINGS ANYMORE!

Posted by: Zombie Joe Biden! at July 27, 2023 03:16 PM (2tUFv)

38 22 Doof, I am the humblest of men.

Posted by: Bulgaroctonus at July 27, 2023 03:16 PM (xTRSc)

39 I just got paid the princely sum of .03 cents interest on my checking account for the month thanks to the Fed!
Posted by: Mister Scott (Formerly GWS) at July 27, 2023 03:11 PM (ncXxy)

But wait until you see the compound interest!

Posted by: InZona at July 27, 2023 03:16 PM (5GZJ1)

40 Polliwog, I never knew there was the second book, I only read the first and last Gran Fenwick ones.

Posted by: Kindltot at July 27, 2023 03:16 PM (xhaym)

41 Good. Keep chasing that rainbow.

The country is in debt up to it's asshole and still people want more. Greedy, selfish, grubbing assholes who don't give two shits as long as they get theirs.

Gimme, gimme, gimme.

Gimme some more...

Posted by: Hairyback Guy at July 27, 2023 03:16 PM (b+YaX)

42 "That rollercoaster could potentially spell bad news for stocks..."

Meh. I'll just do the opposite of whatever Jim Cramer says to do. Best bet in the house.

Posted by: AnonyBotymousDrivel Remembers Babbitt and Perna at July 27, 2023 03:16 PM (aXxgO)

43 38 22 Doof, I am the humblest of men.
Posted by: Bulgaroctonus at July 27, 2023 03:16 PM (xTRSc)

========

I'm a thousand times as humble as thou art.

Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:16 PM (LvTSG)

44 But like, man, this is really going to cut into my latte budget.

Posted by: youngins at July 27, 2023 03:16 PM (ppBhU)

45 Misinflation

Cardi-Urologist.

Posted by: Commissar of Plenty and Lysenko stuff at July 27, 2023 03:17 PM (X66Zg)

46 TheBlaze
@theblaze
Jean-Pierre says Joe Biden would not pardon Hunter Biden.
Video: twitter.com/theblaze/status/1684639398350999552
11:58 AM · Jul 27, 2023
Posted by: BeautifulHillaryClinton at July 27, 2023 03:10 PM (MFZ8i)

So what happens if they he does? Does KJP get fired? Get docked a day's pay?

No. These words are worthless.

Posted by: blaster at July 27, 2023 03:17 PM (Jk9SN)

47 Federal Reserve Chairman Jerome Powell said the Fed’s staff is no longer predicting near-term U.S. recession, Axios reports. Bidenomics is on a roll!

I don't believe it but I'll ponder it as a possible outcome. So we were going to have recession with inflation - stagflation. Now we're going to have light growth with disinflation.

Oh they had a hand...in trashing the American dream for millions of Americans for the past 50+ years.

DU loves to "blame" the Fed for... something? Lowering inflation without causing a recession or unemployment? That darn Federal Reserve! It's clear that in the last year and half the Fed has been right and all their critics have been wrong.

Good, keep inflation under control, give Bidenomics a chance to work. People forget that historically, interest rates have averaged between 5-7%. Thank goodness these artificially low rates have returned to the normal range for a healthy economy. That’s Bidenomics at work!

Posted by: Intercepted DU Transmissions brought by the Intrepid AoS Liaison at July 27, 2023 03:17 PM (JCZqz)

48 Holy shit, Additional Blond Agent, I think of this quote all the time lately.
Posted by: Jordan61 at July 27, 2023 03:15 PM (DRSnL)

Indeed. Vic knew the score even if Hap didn't.

Posted by: Additional Blond Agent, STEM Guy at July 27, 2023 03:17 PM (/HDaX)

49

Raising interest rates suppresses the real part of the economy that makes things and does things.

It does not address the actual source of the current inflation, from the fake economy where the government creates money out of nothing and gives it to dickheads who consume but do not produce.

In fact, cooling off the real economy means less goods and services available to be bought by the dickheads with their free money, which actually looks kind of inflationary to me.

I think their solution for inflation is simply to lie about how bad it really is. People can see what things cost, though.

Posted by: Semi-Literate Thug at July 27, 2023 03:18 PM (G6qJm)

50 Why $3.50 a gallon gas is good for the environment and YOU.

Posted by: VOX at July 27, 2023 03:18 PM (VtYZF)

51 MILTON FRIEDMAN ISN'T RUNNING THINGS ANYMORE!
Posted by: Zombie Joe Biden! at July 27, 2023 03:16 PM (2tUFv)

Go read "A Monetary History of the United States", Joe.

Hunter can help you with the big words.

Posted by: Zombie Milton Friedman! at July 27, 2023 03:18 PM (2tUFv)

52 Good thing the Republicans are committed to cutting spending and entitlements.

Posted by: Mark Andrew Edwards, buy ammo, food, water at July 27, 2023 03:18 PM (xcxpd)

53 An unusual full employment recession. Jeebus. They do like to fap.

Posted by: Puddinhead at July 27, 2023 03:18 PM (8Sqzu)

54 Remember transitory inflation or whatever the fuck they tried to sell? They just get through each day with a new lie.

Posted by: ... at July 27, 2023 03:18 PM (KaovF)

55 " Inflation is always and everywhere a monetary phenomenon. "

ummm...yeah.

Posted by: eleven at July 27, 2023 03:18 PM (iziT8)

56 White supremacy economics? Wow! Is there anything white supremacy can't do??

Posted by: Prime Sister at July 27, 2023 03:18 PM (tQL7r)

57 25 I was assured that we had whipped inflation now?
Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:13 PM (LvTSG)

Whipping is racist.

Posted by: Roy at July 27, 2023 03:19 PM (wQWJv)

58 52 Good thing the Republicans are committed to cutting spending and entitlements.
Posted by: Mark Andrew Edwards, buy ammo, food, water at July 27, 2023 03:18 PM (xcxpd)

=========

It's a good thing committed conservative voters like the AoS commentariat are willing to cut their own welfare payments in order to help balance the budget!

Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:19 PM (LvTSG)

59 i hate to say say it but i think it's too late to do much more than slow down enough so when the car hits the brick wall not everyone in the car is killed.

Posted by: gnats local 678 at July 27, 2023 03:20 PM (B1FKF)

60 Inflation destroys everything. You cannot save, it loses you money, so there is no reason not to spend as fast as you earn it. I makes simple investment impossible since that loses you money, so you have to speculate, and like all speculations some lose and some win, and the winners tend to have inside knowledge.
The future is always going to be harder to live, more expensive and the necesities are always going to be more cheaply made and less useful.
Inflation steals fortunes and lives, and makes dreams out of the reach of people who need those dreams.

Posted by: Kindltot at July 27, 2023 03:20 PM (xhaym)

61 57 25 I was assured that we had whipped inflation now?
Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:13 PM (LvTSG)

Whipping is racist.
Posted by: Roy at July 27, 2023 03:19 PM (wQWJv)

Aw.

Posted by: DEVO at July 27, 2023 03:20 PM (ppBhU)

62 This is what I don't get. You can't raise interest high enough or fast enough to stave off inflation. It's too late. You can't undo decades of printing free money with a quarter percent here and there.

So what do they think they're going to accomplish? I really don't know. Maybe it's to fool "economists" who think it will actually do something. Economics are practiced by economists, not too far removed from the South Park chicken sacrifice episode.

What I'm hearing though is, housing isn't likely to collapse, but commercial real estate is in big BIG trouble. Oh well. Bankers gotta bank, and we'll just bail them out anyway, so what difference does it make. You'll pay more for your housing no matter what, that's the only thing I can see happening here.

Posted by: BurtTC at July 27, 2023 03:20 PM (dGCAG)

63 You could get a good start on getting inflation under control by unleashing the oil and gas industry to, in the words of the Great Mama Bear, Drill Baby Drill.

You get gas back to 2.25 a gallon and a whole lot of dominoes fall.
Posted by: Thomas Bender at July 27, 2023 03:11 PM (rc3Z7)

This is my position as well but you still have to quit printing money. Raising rates without curtailing spending is a recipe for disaster.

Posted by: polynikes at July 27, 2023 03:13 PM

Deficit spending is now baked into the cake. $1.5 TRILLION+ deficit spending is going to happen for the foreseeable future just to cover the national debt interest payments. Every decade the national debt is going to grow 25% based on current projections, and those are the most conservative estimates. If interest rates hit double digits we are pretty much fvcked.

Posted by: Mister Scott (Formerly GWS) at July 27, 2023 03:20 PM (ncXxy)

64 The idea that the economy is great when inflation is higher than economic growth is so funny.

Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:20 PM (LvTSG)

65 58 52 Good thing the Republicans are committed to cutting spending and entitlements.
Posted by: Mark Andrew Edwards, buy ammo, food, water at July 27, 2023 03:18 PM (xcxpd)

=========

It's a good thing committed conservative voters like the AoS commentariat are willing to cut their own welfare payments in order to help balance the budget!
Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:19 PM (LvTSG)

Do...do we have morons on welfare?
I refused to take Unemployment for years.
I won't even use the handicapped parking spot and I'm psychotic!

Posted by: Mark Andrew Edwards, buy ammo, food, water at July 27, 2023 03:21 PM (xcxpd)

66 It's a good thing committed conservative voters like the AoS commentariat are willing to cut their own welfare payments in order to help balance the budget!
Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:19 PM (LvTSG)

What welfare payments?

Posted by: polynikes at July 27, 2023 03:21 PM (MNhXM)

67 @59

>>i hate to say say it but i think it's too late to do much more than slow down enough so when the car hits the brick wall not everyone in the car is killed.

So what your saying is we can somehow transform the wall into a bollard, we might survive?

Posted by: Thomas Bender at July 27, 2023 03:21 PM (rc3Z7)

68 I remember back in 2011, Ofuckstick's people were *still* peppering his speeches with "the failed policies of the last eight years".

Shows you how much it's all mindfucking, and how little what they say even means.

Posted by: ... at July 27, 2023 03:21 PM (KaovF)

69 Gimme, gimme, gimme.

Gimme some more...

Posted by: Hairyback Guy

That actually sounds like a Bible verse, in Proverbs (I think)

Posted by: Prime Sister at July 27, 2023 03:22 PM (tQL7r)

70 59 i hate to say say it but i think it's too late to do much more than slow down enough so when the car hits the brick wall not everyone in the car is killed.
Posted by: gnats local 678

Yep.
A burning clown car careening down a cliff into a sea of smoldering nuclear waste.

Everything is fine.

Posted by: Puddleglum at July 27, 2023 03:22 PM (sAmhv)

71 KJP says, "The American people are beginning to feel Bidenomics."

Yeah, and it's not good.

https://tinyurl.com/bdfczhhn

Posted by: bonhomme at July 27, 2023 03:22 PM (V1QHJ)

72 Didn't Linda Ronstadt sing about inflation being with us for a long long time?

Posted by: An Observation sez China Joe not my president at July 27, 2023 03:22 PM (CecP5)

73 65 Do...do we have morons on welfare?
I refused to take Unemployment for years.
I won't even use the handicapped parking spot and I'm psychotic!
Posted by: Mark Andrew Edwards, buy ammo, food, water at July 27, 2023 03:21 PM (xcxpd)

=========

Oh, that's right. Social security is an "investment". Sorry.

Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:22 PM (LvTSG)

74 Gaylord was right, Joey can screw anything up.

Welcome to Joeflation.

Posted by: Anna Puma at July 27, 2023 03:22 PM (ZKJKX)

75 60 Inflation destroys everything. You cannot save, it loses you money, so there is no reason not to spend as fast as you earn it. I makes simple investment impossible since that loses you money, so you have to speculate, and like all speculations some lose and some win, and the winners tend to have inside knowledge.
---------------
Go short. There is at least another 30% decline in market prices. Or go long commodities. Soros loves times like these.

Posted by: Puddinhead at July 27, 2023 03:22 PM (8Sqzu)

76 Go read "A Monetary History of the United States", Joe.

Hunter can help you with the big words.
Posted by: Zombie Milton Friedman! at July 27, 2023 03:18 PM (2tUFv)

I liked Murray Rothbard's Money and Banking in the United States.
it is like reading an Anne Rule book. About the murder of an economy.

Posted by: Kindltot at July 27, 2023 03:22 PM (xhaym)

77 @63

>>If interest rates hit double digits we are pretty much fvcked.

Turkish: Proper f**ked, like a rabbit.

Posted by: Thomas Bender at July 27, 2023 03:22 PM (rc3Z7)

78 It's a good thing committed conservative voters like the AoS commentariat are willing to cut their own welfare payments in order to help balance the budget!

We live in a pirate republic now. If you're not on the account, you're a sucker.

Posted by: bear with asymmetrical balls - an election is simply a festival for the majority at July 27, 2023 03:22 PM (ppBhU)

79 Oh, that's right. Social security is an "investment". Sorry.
Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:22 PM (LvTSG)

I knew what you meant . I just wanted you to say that stupid shit.

Posted by: polynikes at July 27, 2023 03:23 PM (MNhXM)

80 You get gas back to 2.25 a gallon and a whole lot of dominoes fall.
Posted by: Thomas Bender at July 27, 2023 03:11 PM (rc3Z7)

Which is why they won't do it.

Wasn't there a Lenin quote about using inflation to break the capitalist system?

Posted by: Aetius451AD Work Laptop at July 27, 2023 03:23 PM (zZu0s)

81 Sorry, A History of Money and Banking in the United States

Posted by: Kindltot at July 27, 2023 03:23 PM (xhaym)

82 think their solution for inflation is simply to lie about how bad it really is. People can see what things cost, though.
Posted by: Semi-Literate Thug

And why not? It works so well on everything else

Posted by: Prime Sister at July 27, 2023 03:23 PM (tQL7r)

83 79 Oh, that's right. Social security is an "investment". Sorry.
Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:22 PM (LvTSG)

I knew what you meant . I just wanted you to say that stupid shit.
Posted by: polynikes at July 27, 2023 03:23 PM (MNhXM)

He says that all the time without prompting.

Posted by: Aetius451AD Work Laptop at July 27, 2023 03:23 PM (zZu0s)

84 Deficit spending is now baked into the cake. $1.5 TRILLION+ deficit spending is going to happen for the foreseeable future just to cover the national debt interest payments. Every decade the national debt is going to grow 25% based on current projections, and those are the most conservative estimates. If interest rates hit double digits we are pretty much fvcked.
Posted by: Mister Scott (Formerly GWS) at July 27, 2023 03:20 PM (ncXxy)

I'm thinking the US dollar starts to be challenged sometime after the next recession(I'm not in the camp that we're about to have one since I think we had one in 2022). The early stages will be as usual, rates falling and dollar strengthening.

Posted by: Red Turban Someguy - The Republic is already dead! at July 27, 2023 03:24 PM (eYoxG)

85 "But... but... but... Biden's only been in office for three years!" - dumbasses thay don't realize Biden has been in office nearly half a century

Posted by: Brando at July 27, 2023 03:24 PM (8SUZQ)

86 Inflation steals fortunes and lives, and makes dreams out of the reach of people who need those dreams.
Posted by: Kindltot at July 27, 2023 03:20 PM (xhaym)

That's why I want to send you my free guide to buying pig shit. Pig shit has been proven to be an effective way to stay ahead of inflation, and is an essential component of any well balanced investment portfolio.

So order your guide today, along with my free e-book: "Gold Belongs In Your Dental Fillings, Not In Your Retirement Plan."

Posted by: BurtTC at July 27, 2023 03:24 PM (dGCAG)

87 KJP says, "The American people are beginning to feel Bidenomics."

Is there a vaccine against it because if it's all the same to you, I'd rather not have it.

Posted by: AnonyBotymousDrivel Remembers Babbitt and Perna at July 27, 2023 03:24 PM (aXxgO)

88 79 Oh, that's right. Social security is an "investment". Sorry.
Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:22 PM (LvTSG)

I knew what you meant . I just wanted you to say that stupid shit.
Posted by: polynikes at July 27, 2023 03:23 PM (MNhXM)

=========

"Everyone else's entitlements are welfare except mine," is why entitlements will never get cut.

There is no electorate willing to cut entitlements in any significant way, so pretending that the GOP should be on board with it is silly.

Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:24 PM (LvTSG)

89 Best economy ever

Posted by: Don Black at July 27, 2023 03:24 PM (NZ4hr)

90 Damn, I missed the Alien thread. But I believe ace declared all threads are open alien threads so...

1. I believe Mannix has the photos of hot alien chicks that he's going to release at the appropriate time.

2. Aliens walk among us. You can identify them easily. They wear camo crocks which they actually introduced into the fashion world,

3. They put carrots in chile and pineapple on pizza. Because of these two abominations they should be rounded up and shot back into space.

Posted by: Joey Sausage at July 27, 2023 03:25 PM (or2+y)

91 The only way to get back to prosperity is to cut corporate and capital gains taxes and roll back the SEC and banking regulations imposed since 2008!

-GOP advisors

Posted by: Cat Ass Trophy at July 27, 2023 03:25 PM (slgIg)

92 83 He says that all the time without prompting.
Posted by: Aetius451AD Work Laptop at July 27, 2023 03:23 PM (zZu0s)

=======

In all fairness, I am an asshole.

Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:25 PM (LvTSG)

93 What I'm hearing though is, housing isn't likely to collapse, but commercial real estate is in big BIG trouble. Oh well. Bankers gotta bank, and we'll just bail them out anyway, so what difference does it make. You'll pay more for your housing no matter what, that's the only thing I can see happening here.
Posted by: BurtTC at July 27, 2023 03:20 PM (dGCAG)

Chaos is coming.

Commercial real estate is just about to crater, and that's because of all the remote work. And that is also crashing lots of small businesses. In DC, the mayor is pressing the Feds to bring everyone back to the office. Dems love Dems, they will do it. And likely force anyone who does business with Feds to do it, too. Just like they did with vaccines.

This will cause lots of employment disruption as some companies will remain remote to keep or attract employees. And those who go back to the office will need local employees - they probably have lots that are not nearby anymore.

Posted by: blaster at July 27, 2023 03:25 PM (Jk9SN)

94 Ace is doing the 1 hour time warp again
Posted by: Grumpy and Recalcitrant at July 27, 2023 03:11 PM (nRMeC)

Why is that so important for some of you? Don't quite understand it.

Posted by: Dr. Pork Chops & Bacons at July 27, 2023 03:25 PM (BdMk6)

95 I don't know, but if we killed enough Democrats things would likely get better very quickly.

Posted by: Puddinhead at July 27, 2023 03:25 PM (8Sqzu)

96 Karine whatsherface is too stupid to understand the words that someone else wrote for her and that are coming out of her mouth.

Posted by: runner at July 27, 2023 03:25 PM (djUq5)

97 Smoldering nuclear waste doused in napalm.

G Gordon Liddy will rise from the grave to sell us gold again,

Posted by: Anna Puma at July 27, 2023 03:25 PM (ZKJKX)

98 Sometimes TJM even nods sagaciously when saying it.

Posted by: Bulgaroctonus at July 27, 2023 03:26 PM (xTRSc)

99 Jim Grant, of Jim Grant's Rate observer, normally a very stodgy financial analyst, said a day or two ago "The Fed is out to do as much damage as possible. They are whipsawing the public with printing money, then jerking us around with interest rate fun..."

Most important point - this very mainstream, old time analyst is publicly saying that the Fed is INTENTIONALLY doing everything it can to destroy this economy.

Posted by: Tom Servo at July 27, 2023 03:26 PM (i9ffA)

100 Didn't Linda Ronstadt sing about inflation being with us for a long long time?
Posted by: An Observation sez China Joe not my president at July 27, 2023 03:22 PM (CecP5)

She sang about it, but Warren Zevon wrote it, and he gave it to her to record in exchange for a particularly moist handjob.

Posted by: BurtTC at July 27, 2023 03:26 PM (dGCAG)

101 Am buying a new home, the interest rate I'm paying is sickening. People that bought homes just two years ago in my area are only paying 3.5%. Mine is double that. Doing what I can to boost my credit score so when it makes sense to refinance, I can get a really good new interest rate. But it sucks that it will probably be way past 2025 when the fed rates finally go down and refinancing makes sense. I don't trust their numbers at all.

Posted by: LizLem at July 27, 2023 03:26 PM (6s5zw)

102 In all fairness, I am an asshole.
Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:25 PM (LvTSG)

Now see! That is his unpredictability. Truth and stupidity- and you never know which is coming.

Posted by: Aetius451AD Work Laptop at July 27, 2023 03:27 PM (zZu0s)

103 G Gordon Liddy will rise from the grave to sell us gold again

This has the makings of a good religion.

Posted by: zombie l. ron hubbard at July 27, 2023 03:27 PM (ppBhU)

104 We should cut the federal government by 50% per year for the next 10 years.

Posted by: Cat Ass Trophy at July 27, 2023 03:27 PM (slgIg)

105 Wow, the DU zombies actually use "Bidenomics" as if it's a genuine economic philosophy of some sort. I didn't think anyone really pretended that was the case.

Posted by: spindrift at July 27, 2023 03:27 PM (iG1Nf)

106 This is the Prometheus of economies.

Posted by: Anna Puma at July 27, 2023 03:28 PM (ZKJKX)

107 89 Best economy ever
Posted by: Don Black at July 27, 2023 03:24 PM (NZ4hr)

Hey, I'm loving life.

Posted by: Hunter's crack pipe at July 27, 2023 03:28 PM (VtYZF)

108 Why is that so important for some of you? Don't quite understand it.
Posted by: Dr. Pork Chops & Bacons at July 27, 2023 03:25 PM (BdMk6)

You know what it means, don't you? That time machine totally doesn't have?

He has it.

Posted by: blaster at July 27, 2023 03:28 PM (Jk9SN)

109 Economics 101: If the government prints more money inflation will go up.

Biden Junta Then: PRINT PRESSES GO VROOOM!

Biden Junta Now: Obviously no one could have seen this hyperinflation coming

Posted by: 18-1 at July 27, 2023 03:28 PM (lc5cP)

110 71 KJP says, "The American people are beginning to feel Bidenomics."

Posted by: bonhomme

Feel it like Ned Beatty felt the 'love' in 'Deliverance'.

Posted by: Puddleglum at July 27, 2023 03:28 PM (sAmhv)

111 I remember Rush Bingbang explaining how the feds always got the economy wrong as they only think of the economy as a pie already baked instead of a pie that can be baked bigger and bigger if the folks are left alone to do so.

Posted by: Hairyback Guy at July 27, 2023 03:28 PM (b+YaX)

112 105 Wow, the DU zombies actually use "Bidenomics" as if it's a genuine economic philosophy of some sort. I didn't think anyone really pretended that was the case.
Posted by: spindrift at July 27, 2023 03:27 PM (iG1Nf)

=========

They are partisans first and foremost. They are not ideologues. If they were, they'd hate Biden and Bidenomics on principle.

Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:28 PM (LvTSG)

113 Bidenomics = I take your your stuff because you racist plebes don't need it. Also, its good for the erf.

Posted by: 18-1 at July 27, 2023 03:29 PM (lc5cP)

114 > Wow, the DU zombies actually use "Bidenomics" as if it's a genuine economic philosophy of some sort.

I don't see any method at all.

Posted by: DB - shadowy figure from a past episode at July 27, 2023 03:29 PM (geLO8)

115 Story was out yesterday - 30 story office building, prime condition, in downtown Baltimore, valued at tax rolls at $180+ million, last sold a few years ago for $66 million - just changed hands for a price of $24 million.

Posted by: Tom Servo at July 27, 2023 03:29 PM (i9ffA)

116 LOL.

In the fight against Russian influence in the Ukrainian Kamenskoe Dnipropetrovsk region a bust of Leonid Brezhnev, who was born here, was dismantled

Brezhnev was Ukrainian, of course, but because he was a native Russian speaker (like Zelensky), he wasn't Ukrainian-Ukrainian.

Posted by: Zombie Milton Friedman! at July 27, 2023 03:29 PM (2tUFv)

117 The State of Tennessee had declared a sales tax holiday on groceries between 8/1/2023 and 11/31/2023 to help families cope.

Probably just a coincidence.

Posted by: Tonypete at July 27, 2023 03:29 PM (qoGsy)

118 115 Story was out yesterday - 30 story office building, prime condition, in downtown Baltimore, valued at tax rolls at $180+ million, last sold a few years ago for $66 million - just changed hands for a price of $24 million.

Posted by: Tom Servo at July 27, 2023 03:29 PM (i9ffA)

=========

So, the owner is going to be charged like Trump was in New York?

Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:29 PM (LvTSG)

119 Commercial real estate is just about to crater, and that's because of all the remote work. And that is also crashing lots of small businesses. In DC, the mayor is pressing the Feds to bring everyone back to the office. Dems love Dems, they will do it. And likely force anyone who does business with Feds to do it, too. Just like they did with vaccines.

This will cause lots of employment disruption as some companies will remain remote to keep or attract employees. And those who go back to the office will need local employees - they probably have lots that are not nearby anymore.
Posted by: blaster at July 27, 2023 03:25 PM (Jk9SN)

Sure, they can force worker drones back into office buildings, but they can't bring back small businesses they killed these last three years. They can't. Those businesses, the restaurants, the mom and pop shops, the hair salons, and every other little guy who couldn't afford to keep paying rent when they weren't allowed to open...

They're gone. Forever.

Posted by: BurtTC at July 27, 2023 03:29 PM (dGCAG)

120 Polynikes, how's that stone doing?

Posted by: The Central Scrutinizer at July 27, 2023 03:30 PM (KbCG3)

121 I remember Rush Bingbang explaining how the feds always got the economy wrong as they only think of the economy as a pie already baked instead of a pie that can be baked bigger and bigger if the folks are left alone to do so.

The economy is a grower, not a shower.

Posted by: economics 101 for coomers at July 27, 2023 03:30 PM (ppBhU)

122 Everyone else's entitlements are welfare except mine," is why entitlements will never get cut.

There is no electorate willing to cut entitlements in any significant way, so pretending that the GOP should be on board with it is silly.
Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:24 PM (LvTSG)

I would gladly take the money me and my employers paid into SS in a lump sum.

We were also close to revamping SS until 9/11. How old were you then?

I also would change the automatic increases based on the inflation rate.

I think you have a case of projection.

Posted by: polynikes at July 27, 2023 03:30 PM (MNhXM)

123 Lol
3% I Flatiron is bad ?

Posted by: Paul at July 27, 2023 03:30 PM (Mayo2)

124 probably half the people who vote think it's the fault of the oil companies, the meat packing companies and all the other that the dems have blamed. also putin and trump.

Posted by: gnats local 678 at July 27, 2023 03:30 PM (B1FKF)

125 Personally, I’d rather have Sefton’s weather machine than Ace’s time machine.

Posted by: Bulgaroctonus at July 27, 2023 03:30 PM (xTRSc)

126 Didn't Linda Ronstadt sing about inflation being with us for a long long time?

“Prices are high again
never going down.
Biden is a clown.
Can’t help it.”

Posted by: Stephen Price Blair at July 27, 2023 03:30 PM (EXyHK)

127 I thought CBD had a weather machine?

Posted by: So confused at July 27, 2023 03:30 PM (11AZQ)

128 Where does Senile Joe get his codswallop about how good the economy is. Granted he is demented but really m

Posted by: That Northernlurker what lurkd at July 27, 2023 03:30 PM (aCNZ6)

129 You know what it means, don't you? That time machine totally doesn't have?

He has it.
Posted by: blaster at July 27, 2023 03:28 PM (Jk9SN)

Ah so. Yeah, it makes sense now.

Posted by: Dr. Pork Chops & Bacons at July 27, 2023 03:30 PM (BdMk6)

130
So, the owner is going to be charged like Trump was in New York?

Hah, as if there are any conservatives left in Baltimore.

Posted by: Hunter's crack pipe at July 27, 2023 03:30 PM (VtYZF)

131 The Fed is out to do as much damage as possible. They are whipsawing the public with printing money, then jerking us around with interest rate fun..."

Most important point - this very mainstream, old time analyst is publicly saying that the Fed is INTENTIONALLY doing everything it can to destroy this economy.
Posted by: Tom Servo

Whoa there! Someone admitted that publicly? Hadn't heard any economist ever say that before.

Posted by: Prime Sister at July 27, 2023 03:31 PM (tQL7r)

132 71 KJP says, "The American people are beginning to feel Bidenomics."
Yeah, and it's not good.
https://tinyurl.com/bdfczhhn
Posted by: bonhomme at July 27, 2023 03:22 PM

Actual responses (not labeled as ads) on that link:
Why listen to the partisan, obstructionist doom-sayers when you can check the facts out at http://Snopes.com? Bidenomics works harder than any GOP politician.

The last two Democratic Presidents began their presidencies with the "Recovery Act" and the "Rescue Plan" because the inheritance left by their Republican predecessors were so catastrophic. Democrats KNOW how to make the government run better.

And finally "If Build Back Better Was a Canoe Ride" with an image (THAT image) from "Deliverance"

Posted by: Intercepted DU Transmissions brought by the Intrepid AoS Liaison at July 27, 2023 03:31 PM (2obSz)

133 KJP says, "The American people are beginning to feel Bidenomics."
_________

What a tool.

Posted by: Adirondack Patriot at July 27, 2023 03:31 PM (lf83v)

134 122 I would gladly take the money me and my employers paid into SS in a lump sum.

We were also close to revamping SS until 9/11. How old were you then?

I also would change the automatic increases based on the inflation rate.

I think you have a case of projection.
Posted by: polynikes at July 27, 2023 03:30 PM (MNhXM)

=========

It was sold to you as an investment, but the government lied. It was never more than a tax. I've been told since I entered the workforce that I had to pay in but wouldn't get a penny back.

So, yeah, that colored my thinking. If it was an investment, the government would have forced you to buy T-bills that you would have owned. Instead, they taxed you and used the money as they wanted. It was never an investment.

Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:31 PM (LvTSG)

135 Story was out yesterday - 30 story office building, prime condition, in downtown Baltimore, valued at tax rolls at $180+ million, last sold a few years ago for $66 million - just changed hands for a price of $24 million.

Posted by: Tom Servo

Listen, fat! I made it so prices are falling and now are stableized!!
-- Joe Bribem

Posted by: Tonypete at July 27, 2023 03:31 PM (qoGsy)

136
News relevant to prior threads!

I can't wait for the legal beagles to pounce on this one.

Politico nabbed a copy of the Hunter Biden plea agreement that the DOJ has been suppressing.

https://tinyurl.com/u5cvmrwk

Posted by: Blonde Morticia at July 27, 2023 03:31 PM (lCaJd)

137 Am buying a new home, the interest rate I'm paying is sickening. People that bought homes just two years ago in my area are only paying 3.5%. Mine is double that. Doing what I can to boost my credit score so when it makes sense to refinance, I can get a really good new interest rate. But it sucks that it will probably be way past 2025 when the fed rates finally go down and refinancing makes sense. I don't trust their numbers at all.

Posted by: LizLem at July 27, 2023 03:26 PM

We got a 3% rate when we bought our house 7 years ago. Today the best rate we can get at our credit union is 6.0%. That would add another $500-600 a month to a $300,000 mortgage. We were planning on moving but we have decided to stay put until the madness goes away.

Posted by: Mister Scott (Formerly GWS) at July 27, 2023 03:31 PM (ncXxy)

138 104 We should cut the federal government by 50% per year for the next 10 years.
Posted by: Cat Ass Trophy at July 27, 2023 03:27 PM (slgIg)

Hmmm. 25, 12.5 , 6.25, 3.13, 1.56, .78, .39, .20, .10, .05

.05 x 6,300,000,000,000= 315 Billion per year.

Sounds like a decent start.

That is still higher than all the budgets in total between 1910 or so and the founding of the country.

Posted by: Aetius451AD Work Laptop at July 27, 2023 03:32 PM (zZu0s)

139 I like blaming Biden.

It makes it seem like there is a team of bad guys to blame that can be defeated by the good guys.

But the reality is that D.C. is run by a uniparty and, no matter which party is in charge, the money printers never stop rolling and the debt never stops increasing,

I'm pretty sure D.C. party count sorts out like this:

Uniparty: 534
Rand Paul: 1

Posted by: Bitter Clinger at July 27, 2023 03:32 PM (Zqeqr)

140 Oh, that's right. Social security is an "investment". Sorry.
Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:22 PM (LvTSG)

OH! It's an age insult. Went over my head.
Sure cut SS too. I've never planned on either retiring or on collecting SS.

Posted by: Mark Andrew Edwards, buy ammo, food, water at July 27, 2023 03:32 PM (xcxpd)

141 Is it even "real" money anymore?

Posted by: "Perfessor" Squirrel at July 27, 2023 03:32 PM (YIVH2)

142 worst preznits of my life (ranked):
1. LBJ - for turning civil rights for blacks into welfare (chains) for blacks
2. Obama - for being a communist jack ass
3. Biden - for being Obama's puppet
4. Jimmuh Cahteh - for being a liberal simpleton

Posted by: DanMan at July 27, 2023 03:32 PM (DB6tu)

143 Those businesses, the restaurants, the mom and pop shops, the hair salons, and every other little guy who couldn't afford to keep paying rent when they weren't allowed to open...

They're gone. Forever.
Posted by: BurtTC at July 27, 2023 03:29 PM (dGCAG)

That's the thing about small business is that they are small. Yeah, mom and pop deli is gone, but relatively easy for a new one to pop up if there is demand.

Posted by: blaster at July 27, 2023 03:32 PM (Jk9SN)

144
Story was out yesterday - 30 story office building, prime condition, in downtown Baltimore, valued at tax rolls at $180+ million, last sold a few years ago for $66 million - just changed hands for a price of $24 million.

Posted by: Tom Servo

========

Hold my beer.

Posted by: San Francisco Commercial Real Estate at July 27, 2023 03:32 PM (lCaJd)

145 Story was out yesterday - 30 story office building, prime condition, in downtown Baltimore, valued at tax rolls at $180+ million, last sold a few years ago for $66 million - just changed hands for a price of $24 million.

Posted by: Tom Servo at July 27, 2023 03:29 PM (i9ffA)

Gonna go out on a limb and say whoever bought it has an in with the politicians, and KNOWS if he can't fill the building, his "investment" will be guaranteed by the government. He's essentially putting up no risk.

Posted by: BurtTC at July 27, 2023 03:32 PM (dGCAG)

146 The progressive, Democrat-aligned investment group Blackrock warns of "rollercoaster inflation" and a recession despite very nominal "full employment."

No people with names were involved in this warning./s

Posted by: Question Authority bumper sticker at July 27, 2023 03:32 PM (Rbu5d)

147 KJP says, "The American people are beginning to feel Bidenomics."

Yes. Deep in my ass. Prison sex is everything I thought it would be.

Posted by: bear with asymmetrical balls - an election is simply a festival for the majority at July 27, 2023 03:32 PM (ppBhU)

148 Everyone else's entitlements are welfare except mine," is why entitlements will never get cut.

Oh there is an answer to this. The GOPe doesn't like it though.

Come up with draconian taxes that hit leftists and their interests and give that money to rightwing people and groups.

The debt is beyond solving. The left uses taxes as a weapon against us, and the treasury as their slush fund.

Do it back to them...but harder.

Posted by: 18-1 at July 27, 2023 03:32 PM (lc5cP)

149 Polynikes, how's that stone doing?
Posted by: The Central Scrutinizer at July 27, 2023 03:30 PM (KbCG3)

Thanks for asking . Still stuck but the discomfort hasn’t gotten any worse. Maybe it’s the Tylenol with codeine I took last night. Drinking a ton of water.

Again thanks for asking.

Posted by: polynikes at July 27, 2023 03:32 PM (MNhXM)

150 We got a 3% rate when we bought our house 7 years ago. Today the best rate we can get at our credit union is 6.0%. That would add another $500-600 a month to a $300,000 mortgage. We were planning on moving but we have decided to stay put until the madness goes away.
Posted by: Mister Scott (Formerly GWS) at July 27, 2023 03:31 PM (ncXxy)

=====

We're in the exact same boat. Husband really wants to move, but our interest rate is 2.5% and I just can't walk away from that.

Posted by: Jordan61 at July 27, 2023 03:33 PM (DRSnL)

151 Hunter Biden's art is immune to impact of inflation thankfully.

Posted by: Wonkish Rogue at July 27, 2023 03:33 PM (OZjDX)

152 The grocery store gave me a free jar of pesto. Some sort of promotion.

What is pesto and what does it do

Posted by: DB - shadowy figure from a past episode at July 27, 2023 03:33 PM (geLO8)

153 Brezhnev was Ukrainian, of course, but because he was a native Russian speaker (like Zelensky), he wasn't Ukrainian-Ukrainian.
_________

And his eyebrows went on to an illustrious career with Andy Rooney after Brezhnev died.

Posted by: Adirondack Patriot at July 27, 2023 03:33 PM (lf83v)

154 Where does Senile Joe get his codswallop about how good the economy is. Granted he is demented but really m
Posted by: That Northernlurker

That lil screen in front of him with the words on it.

Posted by: BruceWayne at July 27, 2023 03:33 PM (MGB5H)

155 So Ace is the one with access to alien technologies!

Posted by: stu-mick-o-sucks at July 27, 2023 03:33 PM (uU/Wx)

156 Listen, fat! I made it so prices are falling and now are stableized!!
-- Joe Bribem
Posted by: Tonypete at July 27, 2023 03:31 PM (qoGsy)
----
$0 is stable, right?

Posted by: "Perfessor" Squirrel at July 27, 2023 03:33 PM (YIVH2)

157 Jim Jordan subpoenaed Facebook for communication between the Biden administration and Facebook. He's now releasing the emails. Same shit they pulled with Twitter.

https://tinyurl.com/2s3s9jsm

Posted by: JackStraw at July 27, 2023 03:33 PM (ZLI7S)

158 >>> 3. They put carrots in chile and pineapple on pizza. Because of these two abominations they should be rounded up and shot back into space.

Here's what I don't understand. Do the same people who hate pineapple on pizza NOT like ham with pineapple in general? I thought that was a staple of American cuisine, you slow cook ham with pineapple to make it sweet and juicy. They are the same flavors and textures, just on top of a pizza.

And if it's the marinara sauce throwing you off, just use BBQ sauce instead. Maybe add peppers or jalapeños if you want some heat.

I get this is similar to the cilantro vs no cilantro debate, people like what they like. But I think Hawaiian pizza is delicious, and I'm sorry for those whose taste buds disagree. You are truly missing out.

Posted by: LizLem at July 27, 2023 03:33 PM (6s5zw)

159 125 Personally, I’d rather have Sefton’s weather machine than Ace’s time machine.
Posted by: Bulgaroctonus at July 27, 2023 03:30 PM (xTRSc)

ace gotta shitty lease from JJ for the time machine.

Wait.

If ace has a time machine.

He could change anything he wanted.

Which means this is all according to HIS plan.

You fucktard!

Posted by: Aetius451AD Work Laptop at July 27, 2023 03:33 PM (zZu0s)

160 Aliens stole my money.

Posted by: Archer at July 27, 2023 03:33 PM (gmo/4)

161 Whoa there! Someone admitted that publicly? Hadn't heard any economist ever say that before.
Posted by: Prime Sister at July 27, 2023 03:31 PM (tQL7r)

People quote “The Fed tightens until something breaks.” all the time. It's pretty much received wisdom and why the economists have been expecting a recession(that and the denial of a recession in 2022).

Posted by: Red Turban Someguy - The Republic is already dead! at July 27, 2023 03:34 PM (eYoxG)

162 Dow is doing great real wages are going up
Corporate profits record high

Posted by: Paul at July 27, 2023 03:34 PM (Mayo2)

163 but relatively easy for a new one to pop up if there is demand

It's easy if the economic conditions allow for it. And if you have enough trust and confidence in your government to not shut everything down again.

Posted by: bear with asymmetrical balls - an election is simply a festival for the majority at July 27, 2023 03:34 PM (ppBhU)

164 pigs flew today."
Posted by: Gaff at July 27, 2023 03:10 PM (jPS2y)

Raising bacon wings is all the rage in homesteading circles.

Posted by: Question Authority bumper sticker at July 27, 2023 03:34 PM (Rbu5d)

165 What is pesto and what does it do
Posted by: DB - shadowy figure from a past episode at July 27, 2023 03:33 PM (geLO

Rub it on cuts, bruises and the like.

Speeds healing and smells wonderful.

Posted by: Hairyback Guy at July 27, 2023 03:34 PM (b+YaX)

166 Will you dummies believe in global warming now?

CNN
@CNN
Heat waves in three continents have driven the planet's average temperature in July to levels not seen in 120,000 years, scientists say https://cnn.it/3rIwoO9

-
It's proved by records from Neanderthal meteorologists!

Posted by: Anonosaurus Wrecks, Is this the real life? Is this just fantasy? at July 27, 2023 03:34 PM (FVME7)

167 re 101: don surber used to write about an 18 percent mortgage when he bought a house in the early 1980s. i think varney at fox biz has talked about that, too.

Posted by: gnats local 678 at July 27, 2023 03:34 PM (B1FKF)

168 The transportation industry has been worrisome lately. UPS seems to have avoided a strike, but YRC is stumbling along the plank to bankruptcy. Shipping costs are going up.

Posted by: Oglebay at July 27, 2023 03:35 PM (ogTiX)

169 Dow is doing great real wages are going up
Corporate profits record high
Posted by: Paul
_________

So, the rich are getting richer, troll?

Posted by: Adirondack Patriot at July 27, 2023 03:35 PM (lf83v)

170
Gimme, gimme, gimme.

Gimme some more...

Posted by: Hairyback Guy

That actually sounds like a Bible verse, in Proverbs (I think)
Posted by: Prime Sister at July 27, 2023 03:22 PM (tQL7r)

It's an ABBA song.

https://tinyurl.com/ycyysdnr

Posted by: Believe it or Not at July 27, 2023 03:35 PM (JqMqI)

171 Most LIVs I talk to think prices will go back down one "inflation is solved".

They don't get that Biden already stole 50% of their wealth through inflation. No he didn't tax it...but that retirement/nest egg/whatever you had will only buy half the things it did under Trump.

"Solving inflation" at this point just means stopping Biden from stealing more of your wealth.

Posted by: 18-1 at July 27, 2023 03:35 PM (lc5cP)

172 Looks like I'll be hitting the 401s just in time to maintain my current standard of living.
Fu*king government assholes.

Posted by: Diogenes at July 27, 2023 03:35 PM (e4fEA)

173 That's the thing about small business is that they are small. Yeah, mom and pop deli is gone, but relatively easy for a new one to pop up if there is demand.
Posted by: blaster at July 27, 2023 03:32 PM (Jk9SN)

Well, I'm not sure I'd be willing to put a business in any of these shithole cities, where you have to deal with theft, poopers in your entrance way, the potential for another mostly peaceful protest... why would anybody go back.

It ain't happening. And the rents are not coming down either, so anyone who thinks they can get a bargain... unless you have politicians in your pocket, why would you take any risk.

Posted by: BurtTC at July 27, 2023 03:35 PM (dGCAG)

174 140 Oh, that's right. Social security is an "investment". Sorry.
Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:22 PM (LvTSG)

OH! It's an age insult. Went over my head.
Sure cut SS too. I've never planned on either retiring or on collecting SS.
Posted by: Mark Andrew Edwards, buy ammo, food, water at July 27, 2023 03:32 PM (xcxpd)

=========

It's not an age insult at all. Social Security is an entitlement. It's the only entitlement that no one considers welfare because...reasons. Because the government lied to the public about it, calling it an investment, when it was never more than a tax and an entitlement.

It's mostly an argument in microcosm about how there is no electorate for cutting entitlements at all. "Cut theirs, not mine," is so deep in the electorate in general that you can't find a majority of people HERE to agree to cut their own benefits to cut spending, then where is there any body politic that will? Why would the GOP do it as a representative body? What group of voters is demanding it?

Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:35 PM (LvTSG)

175 I get this is similar to the cilantro vs no cilantro debate, people like what they like. But I think Hawaiian pizza is delicious, and I'm sorry for those whose taste buds disagree. You are truly missing out.
Posted by: LizLem at July 27, 2023 03:33 PM (6s5zw)
---
I think for me it's as much about the texture as it is the combination of flavors. Pineapple on pizza just doesn't feel right, especially when combined with mozzarella cheese.

Posted by: "Perfessor" Squirrel at July 27, 2023 03:35 PM (YIVH2)

176 >KJP says, "The American people are beginning to feel Bidenomics."

Yes, but not in the way her bosses pretend

Posted by: DB - shadowy figure from a past episode at July 27, 2023 03:36 PM (geLO8)

177 Barbenheimer Pitch Meeting:

https://youtu.be/saj2Q92wBkU

Posted by: Azathoth at July 27, 2023 03:36 PM (wb1YC)

178 90 Damn, I missed the Alien thread. But I believe ace declared all threads are open alien threads so...

1. I believe Mannix has the photos of hot alien chicks that he's going to release at the appropriate time.

2. Aliens walk among us. You can identify them easily. They wear camo crocks which they actually introduced into the fashion world,

3. They put carrots in chile and pineapple on pizza. Because of these two abominations they should be rounded up and shot back into space.
Posted by: Joey Sausage at July 27, 2023 03:25 PM (or2+y)

It's possible but not yet authenticated that they also put ketchup on hot dog sandwiches.

Posted by: Jonah "the Wale" Goldberg at July 27, 2023 03:36 PM (53oGX)

179 Posted by: Paul at July 27, 2023 03:34 PM (Mayo2)

The guy who can't distinguish between revenue and profit is telling us everything is awesome.

Keep fucking that hobby-horse.

Posted by: spindrift at July 27, 2023 03:36 PM (iG1Nf)

180 re 162: guy who believes that the chocolate ration has been increased has chimed in.

Posted by: gnats local 678 at July 27, 2023 03:36 PM (B1FKF)

181 Corporate profits record high
Posted by: Paul at July 27, 2023 03:34 PM (Mayo2)

It's weird how the left cares more about corporations than actual people.

Posted by: Methos at July 27, 2023 03:36 PM (kOpft)

182 Yeah, Hawaiian pizza is awesome.

Posted by: Bulgaroctonus at July 27, 2023 03:36 PM (xTRSc)

183 I just don't understand how a Republican candidate for President just doesn't take the trans issue and hammer it home every day, every hour, & every minute all the way to the occupying the White House.
It seems to be the one issue that could win back suburbs while keeping the MAGA base.

Megyn Kelly
@megynkelly
My God pls take five minutes to listen to the incredible, heart-wrenching opening statement of
@ChoooCole on how the medical community FAILED her w/the so-called “gender affirming care” ppl like Rachel Levine/the Biden Admin/the AMA/AAP push at every turn. Please.
Quote Tweet
The Daily Signal
@DailySignal·3h
"My childhood was ruined": listen to heartbreaking opening statement of detransitioner @ChoooCole
Video: twitter.com/i/status/1684597870811308032
9:50 AM · Jul 27, 2023

Posted by: BeautifulHillaryClinton at July 27, 2023 03:37 PM (MFZ8i)

184 Oh, that's right. Social security is an "investment". Sorry.
Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:22 PM (LvTSG)

OH! It's an age insult. Went over my head.
Sure cut SS too. I've never planned on either retiring or on collecting SS.

Posted by: Mark Andrew Edwards, buy ammo, food, water at July 27, 2023 03:32 PM

It's the "boomer" insult. Some people apparently think we don't deserve getting any of the 12% of our wages that we and our employers paid into social security for 45 years back.

Posted by: Mister Scott (Formerly GWS) at July 27, 2023 03:37 PM (ncXxy)

185 181 Corporate profits record high
Posted by: Paul at July 27, 2023 03:34 PM (Mayo2)

It's weird how the left cares more about corporations than actual people.

-------------------------

Corporations are people, my friend.

Posted by: Oglebay at July 27, 2023 03:37 PM (ogTiX)

186 182 Yeah, Hawaiian pizza is awesome.
Posted by: Bulgaroctonus at July 27, 2023 03:36 PM (xTRSc)

Dammit, Bulgar.

Fruit does not belong on pizza.

So let it be written, so let it be done.

Posted by: Aetius451AD Work Laptop at July 27, 2023 03:37 PM (zZu0s)

187
That's the thing about small business is that they are small. Yeah, mom and pop deli is gone, but relatively easy for a new one to pop up if there is demand.
Posted by: blaster

=========

It continually amazes me that people pursue their dream of small businesses in doomed neighborhoods. People are opening sandwich shops and little stores in San Fran as we speak. Windows smashed in within months.

Posted by: San Francisco Commercial Real Estate at July 27, 2023 03:37 PM (lCaJd)

188 Will you dummies believe in global warming now?

CNN
@CNN
Heat waves in three continents have driven the planet's average temperature in July to levels not seen in 120,000 years, scientists say https://cnn.it/3rIwoO9

-
It's proved by records from Neanderthal meteorologists!
Posted by: Anonosaurus Wrecks, Is this the real life? Is this just fantasy? at July 27, 2023 03:34 PM (FVME7)

I just marvel at how stupid they must think their audience is.

And they're right.

Posted by: BurtTC at July 27, 2023 03:37 PM (dGCAG)

189 184 It's the "boomer" insult. Some people apparently think we don't deserve getting any of the 12% of our wages that we and our employers paid into social security for 45 years back.
Posted by: Mister Scott (Formerly GWS) at July 27, 2023 03:37 PM (ncXxy)

=========

Why that tax and not the rest of your taxes?

Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:37 PM (LvTSG)

190 IMHO, the interest is about where it should have been all along. What's so aggravating is that it hasn't translated to individual savings accounts and CD's.

Posted by: Dr. Pork Chops & Bacons at July 27, 2023 03:37 PM (BdMk6)

191 150 We got a 3% rate when we bought our house 7 years ago. Today the best rate we can get at our credit union is 6.0%. That would add another $500-600 a month to a $300,000 mortgage. We were planning on moving but we have decided to stay put until the madness goes away.
Posted by: Mister Scott (Formerly GWS) at July 27, 2023 03:31 PM (ncXxy)

=====

We're in the exact same boat. Husband really wants to move, but our interest rate is 2.5% and I just can't walk away from that.
Posted by: Jordan61 at July 27, 2023 03:33 PM (DRSnL)

3% is an abnormally low rate. That's the historical US inflation rate. Maybe rates come down to 5% or something in the next recession, but you may end up waiting for a very long time to see 3% again.

Posted by: Red Turban Someguy - The Republic is already dead! at July 27, 2023 03:38 PM (eYoxG)

192 Dammit, Bulgar.

Fruit does not belong on pizza.

So let it be written, so let it be done.
Posted by: Aetius451AD Work Laptop at July 27, 2023 03:37 PM (zZu0s)

=====

THIS

Posted by: Jordan61 at July 27, 2023 03:38 PM (DRSnL)

193 Stagflation we missed you so.

Posted by: Regular joe. Not just mad, Samuel L Jackson mad at July 27, 2023 03:38 PM (nnp+f)

194 I just marvel at how stupid they must think their audience is.

And they're right.
Posted by: BurtTC at July 27, 2023 03:37 PM (dGCAG)

You ain't just whistlin' Dixie.

Posted by: Aetius451AD Work Laptop at July 27, 2023 03:38 PM (zZu0s)

195 I see Paul is still living in his mom's basement.

Posted by: Kindltot at July 27, 2023 03:38 PM (xhaym)

196 Fruit does not belong on pizza.

Technically, tomato is a fruit.

Posted by: Wesley Crusher at July 27, 2023 03:39 PM (iG1Nf)

197 And before you start on 'Tomato is a fru-', fuck that.

Posted by: Aetius451AD Work Laptop at July 27, 2023 03:39 PM (zZu0s)

198 190 IMHO, the interest is about where it should have been all along. What's so aggravating is that it hasn't translated to individual savings accounts and CD's.
Posted by: Dr. Pork Chops & Bacons at July 27, 2023 03:37 PM (BdMk6)

Short-term CD's are offering something close to the Fed Funds rate. Stuff with longer duration is offering less since the yield curve is inverted.

Posted by: Red Turban Someguy - The Republic is already dead! at July 27, 2023 03:39 PM (eYoxG)

199 I only had pineapple and canadian bacon made at one place that was any good in my life and that was in college when my judgement might have been slightly affected by drugs and/or alcohol.

Posted by: Archer at July 27, 2023 03:39 PM (gmo/4)

200 I'm going to go home and have a real cold drink after this Navy Telecom I am on while I am on Leave. Sigh

Posted by: Nevergiveup at July 27, 2023 03:39 PM (pVWRI)

201 196 Fruit does not belong on pizza.

Technically, tomato is a fruit.
Posted by: Wesley Crusher at July 27, 2023 03:39 PM (iG1Nf)

You would know about fruits. How does that alien's dick taste, space cadet?

Posted by: Aetius451AD Work Laptop at July 27, 2023 03:40 PM (zZu0s)

202 Tomato is a fruit. Sorry, but that is what it is.

Posted by: Kindltot at July 27, 2023 03:40 PM (xhaym)

203 A very large percentage of my working life was a self employed person, so I had the privilege of paying BOTH halves of (legally required, mind you) the social security fund. It was $.15 of every dollar I made, if memory serves.
You can't opt out of it.
And hell yes, I'm collecting it now.

Posted by: gourmand du jour at July 27, 2023 03:40 PM (MeG8a)

204 You mock the G-man and his gold shilling, but I believe that a good portion of our economic woes can be laid at the feet of the demise of the Stack and Packed Calendar.

Posted by: Good Ole Daze at July 27, 2023 03:40 PM (tO+U3)

205 >Heat waves in three continents have driven the planet's average temperature in July to levels not seen in 120,000 years, scientists say

I call BS unless they can produce the daily climate summary for July 26th, 120,000 BC

Posted by: DB - shadowy figure from a past episode at July 27, 2023 03:40 PM (geLO8)

206 I just don't understand how a Republican candidate for President just doesn't take the trans issue and hammer it home every day, every hour, & every minute all the way to the occupying the White House.
It seems to be the one issue that could win back suburbs while keeping the MAGA base.

Posted by: BeautifulHillaryClinton at July 27, 2023 03:37 PM (MFZ8i)

The willingness of any Republican Party candidate to take on these issues is inversely related to how much they depend on the Republican Corporate Donor Class for their campaign cash.

Posted by: BurtTC at July 27, 2023 03:40 PM (dGCAG)

207 "Feel it like Ned Beatty felt the 'love' in 'Deliverance'. "

Just when I finally forgot about that scene.

Posted by: eleven at July 27, 2023 03:40 PM (iziT8)

208 We got a 3% rate when we bought our house 7 years ago. Today the best rate we can get at our credit union is 6.0%. That would add another $500-600 a month to a $300,000 mortgage. We were planning on moving but we have decided to stay put until the madness goes away.
Posted by: Mister Scott (Formerly GWS) at July 27, 2023 03:31 PM (ncXxy)

=====

We're in the exact same boat. Husband really wants to move, but our interest rate is 2.5% and I just can't walk away from that.

Posted by: Jordan61 at July 27, 2023 03:33 PM

Yep, it's frustrating. We have been making double mortgage payments for the last 4 years using my social security check so our house will be paid off in about 5 years and we can move without having to take out a new mortgage. That's the new plan.

Posted by: Mister Scott (Formerly GWS) at July 27, 2023 03:41 PM (ncXxy)

209 It's possible but not yet authenticated that they also put ketchup on hot dog sandwiches.

Posted by: Jonah "the Wale" Goldberg at July 27, 2023 03:36 PM (53oGX)

I can't even....

Posted by: Joey Sausage at July 27, 2023 03:41 PM (or2+y)

210 Linda’s version of “Long, Long Time” always makes me want to cry. She really puts over the heartbreak.

Posted by: Bulgaroctonus at July 27, 2023 03:41 PM (xTRSc)

211 anyway, i don't eat pineapple, for some reason it burns my tongue. same with kiwi froot.

Posted by: gnats local 678 at July 27, 2023 03:41 PM (B1FKF)

212 People quote “The Fed tightens until something breaks.” all the time. It's pretty much received wisdom and why the economists have been expecting a recession(that and the denial of a recession in 2022).
Posted by: Red Turban Someguy

Maybe so. 🤷‍♀️ Still hadn't heard an economist admit the specifics out loud. I actually think that may be good news.

Posted by: Prime Sister at July 27, 2023 03:41 PM (tQL7r)

213 Get these heathens their blue raspberry pizzas, then.

Posted by: Aetius451AD Work Laptop at July 27, 2023 03:41 PM (zZu0s)

214 The State of Tennessee had declared a sales tax holiday on groceries between 8/1/2023 and 11/31/2023 to help families cope.

Probably just a coincidence.
Posted by: Tonypete at July 27, 2023 03:29 PM (qoGsy)

Mighty good to hear. I'm going to celebrate by putting the Tennessee plates I braved the county clerk's office for on my car now, heat and humidity be damned.

Posted by: Additional Blond Agent, STEM Guy at July 27, 2023 03:41 PM (/HDaX)

215 Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:31 PM (LvTSG)

Nothing was sold to me . I gladly would have opt out if allowed . Since I wasn’t , I paid into it so I get what they say I get . I don’t get a say so on that either. What I paid in I paid for your parents SS benefit. What you pay in pays for my benefits. ‘Entitlements’ by definition don’t require you to pay money to get them.

Posted by: polynikes at July 27, 2023 03:41 PM (MNhXM)

216 Tomato is a fruit. Sorry, but that is what it is.
Posted by: Kindltot
__________

Next you will tell me that a peanut is not a nut -- it's a legume.

Posted by: Adirondack Patriot at July 27, 2023 03:41 PM (lf83v)

217 It's the "boomer" insult. Some people apparently think we don't deserve getting any of the 12% of our wages that we and our employers paid into social security for 45 years back.
-
I rad somewhere that a fool and his money are soon parted.

SS was always a scam redistributing wealth from relatively poor young people trying to raise families to retired fat cats. And it was always destined to fail. Boomers might as well be the ones holding the empty bag at the end.

Of course, since no one can say no to an obviously evil program, we'll just destroy the dollar and starve together, I suppose.

Posted by: Methos at July 27, 2023 03:42 PM (kOpft)

218 Raise the Social Security tax from 6.2% (12.4% for Ee and ER) to 8.3% and full benefits can continue past the point where the trust goes bust.

Posted by: Oglebay at July 27, 2023 03:42 PM (ogTiX)

219 OH! It's an age insult. Went over my head.
Sure cut SS too. I've never planned on either retiring or on collecting SS.
Posted by: Mark Andrew Edwards, buy ammo, food, water at July 27, 2023 03:32 PM (xcxpd)

=========

It's not an age insult at all. Social Security is an entitlement. It's the only entitlement that no one considers welfare because...reasons. Because the government lied to the public about it, calling it an investment, when it was never more than a tax and an entitlement.

It's mostly an argument in microcosm about how there is no electorate for cutting entitlements at all. "Cut theirs, not mine," is so deep in the electorate in general that you can't find a majority of people HERE to agree to cut their own benefits to cut spending, then where is there any body politic that will? Why would the GOP do it as a representative body? What group of voters is demanding it?
Posted by: TheJamesMadison
--------------
Social Security is fairly to fix for decades--raise the retirement age--partial to 65 and full at 70 in the same way that it was raised in the 80's. It is Medicare and Poverty Entitlements like Medicaid that have exploded in costs.

Posted by: whig at July 27, 2023 03:42 PM (9hLLz)

220 And before you start on 'Tomato is a fru-', fuck that.
Posted by: Aetius451AD Work Laptop at July 27, 2023 03:39 PM (zZu0s)

I am sorry, did you want me to lie? Is lying what you require here? Is the truth too much for you to handle? Lies will not solve your problems. Tomatoes. Are. A. Fruit.

Posted by: Kindltot at July 27, 2023 03:42 PM (xhaym)

221 Heat waves in three continents have driven the planet's average temperature in July to levels not seen in 120,000 years, scientists say

I call BS unless they can produce the daily climate summary for July 26th, 120,000 BC

Posted by: DB - shadowy figure from a past episode at July 27, 2023 03:40 PM (geLO

Grog concur.

Posted by: Grog and Raquel Welch at July 27, 2023 03:42 PM (gmo/4)

222 Knowledge is knowing tomato is a fruit

Wisdom is knowing not to put it in fruit salad

Posted by: 18-1 at July 27, 2023 03:42 PM (lc5cP)

223 150 We got a 3% rate when we bought our house 7 years ago. Today the best rate we can get at our credit union is 6.0%. That would add another $500-600 a month to a $300,000 mortgage. We were planning on moving but we have decided to stay put until the madness goes away.
Posted by: Mister Scott (Formerly GWS) at July 27, 2023 03:31 PM (ncXxy)

=====

We're in the exact same boat. Husband really wants to move, but our interest rate is 2.5% and I just can't walk away from that.
Posted by: Jordan61 at July 27, 2023 03:33 PM (DRSnL)

Same... we have 1.98%
I just can't consider it at 6%+

Posted by: Jonah at July 27, 2023 03:42 PM (53oGX)

224 Mr. Jen just read a report that Yellow Freight is likely going under. Over 1Billion in debt. Likely scenario Chapter 7, not 11. I imagine Pete Butterbrain will be right on that.

Posted by: Jen the original at July 27, 2023 03:42 PM (Rl89V)

225 Why $3.50 a gallon gas is good for the environment and YOU.
Posted by: VOX

That would be down a $1.20 from the ARCO where I pay cash. Gimme dat!

Posted by: SFGoth at July 27, 2023 03:43 PM (KAi1n)

226 I always laugh at Paul's "profits are up" nonsense because I know he hates capitalism.

That, and he's economically illiterate.

Posted by: Blake - semi lurker at large at July 27, 2023 03:43 PM (2YtOq)

227 "The federal government collected $5.0 trillion in revenue in fiscal year 2022 (FY 2022) — or $15,098 per person. The federal government spent $6.5 trillion in FY 2022 — or $19,434 per person — including funds distributed to states..."

"The U.S. government has spent $4.81 trillion in fiscal year 2023 so far..."

Meanwhile:

"tHe dOw iS hIgH."
- smoothbrains

Posted by: Azathoth at July 27, 2023 03:43 PM (wb1YC)

228
Jim Jordan subpoenaed Facebook for communication between the Biden administration and Facebook. He's now releasing the emails. Same shit they pulled with Twitter.

https://tinyurl.com/2s3s9jsm

Posted by: JackStraw

============

Jim Jordan: "contempt is still on the table"

lol

Posted by: Blonde Morticia at July 27, 2023 03:43 PM (lCaJd)

229 Next you will tell me that a peanut is not a nut -- it's a legume.
Posted by: Adirondack Patriot at July 27, 2023 03:41 PM (lf83v)

True. And a cashew is a drupe, not a nut

Posted by: Kindltot at July 27, 2023 03:43 PM (xhaym)

230 "So let it be written, so let it be done. "

Great movie.

Posted by: eleven at July 27, 2023 03:43 PM (iziT8)

231 225 Why $3.50 a gallon gas is good for the environment and YOU.
Posted by: VOX

That would be down a $1.20 from the ARCO where I pay cash. Gimme dat!
Posted by: SFGoth at July 27, 2023 03:43 PM (KAi1n)

Word. It's over $5 a gallon near my place

Posted by: Mark Andrew Edwards, buy ammo, food, water at July 27, 2023 03:43 PM (xcxpd)

232 Real estate market is dead. And will just get deader in the near term,

Posted by: Montec at July 27, 2023 03:43 PM (Rudgo)

233 I do enjoy a good nut

Posted by: Sandra Fluke at July 27, 2023 03:44 PM (lc5cP)

234 IMHO, the interest is about where it should have been all along. What's so aggravating is that it hasn't translated to individual savings accounts and CD's.
Posted by: Dr. Pork Chops & Bacons at July 27, 2023 03:37 PM (BdMk6)

I believe that's because the interest rate hikes are intended to encourage large investors to park their money. They don't really care about the individual saver. They don't make up enough of the pool of money circulating.

Posted by: BurtTC at July 27, 2023 03:44 PM (dGCAG)

235 my parents, both born in the 1930's and long lived (mom's still going!) were at the sweet spot for SS. Dad figured out that by age 82, he'd collected 100 times what he had paid in. Mom's still collecting. Mind you, there were years in the 50's when he had just started working where his entire yearly SS payment was $10 or so. And that earned a full years credit in the system.

Posted by: Tom Servo at July 27, 2023 03:44 PM (i9ffA)

236 Heat waves in three continents have driven the planet's average temperature in July to levels not seen in 120,000 years, scientists say

I call BS unless they can produce the daily climate summary for July 26th, 120,000 BC
Posted by: DB - shadowy figure from a past episode at July 27, 2023 03:40 PM (geLO

But....but.....the rings in that petrified tree....

Posted by: Dr. Pork Chops & Bacons at July 27, 2023 03:44 PM (BdMk6)

237 I know the 29 year olds remember 15-16% years mortgage rates.

Posted by: polynikes at July 27, 2023 03:44 PM (MNhXM)

238 It stayed dead stable at around 3.33 for months, then this week went up to 3.49. Broke the seal.

Posted by: Aetius451AD Work Laptop at July 27, 2023 03:45 PM (zZu0s)

239 Democrats around election time: The only reason gas prices are high are evil oil companies!

Democrats the rest of the year: Of course we have to raise gas prices to save the Erf. You don't need a car anyway, plebe.

Posted by: 18-1 at July 27, 2023 03:45 PM (lc5cP)

240 206 I just don't understand how a Republican candidate for President just doesn't take the trans issue and hammer it home every day, every hour, & every minute all the way to the occupying the White House.
It seems to be the one issue that could win back suburbs while keeping the MAGA base.

Posted by: BeautifulHillaryClinton
---------
Don't ever believe that 'one neat trick' over a policy wins a national election. People base their vote for all kinds of reasons and ballots don't give a shit about issues because they don't come from real people.

Posted by: whig at July 27, 2023 03:45 PM (9hLLz)

241 Of course, since no one can say no to an obviously evil program, we'll just destroy the dollar and starve together, I suppose.

Posted by: Methos at July 27, 2023 03:42 PM (kOpft)

Euthanasia. Coming to a hospital near you.

Posted by: Joey Sausage at July 27, 2023 03:45 PM (or2+y)

242 It's so hot in Antarctica this winter that there are no cute Penguin Pics or vids for the Cafe.

Posted by: Penguin Liberation Front at July 27, 2023 03:45 PM (tO+U3)

243 This helps serve the purpose of liberals in many ways.

Besides their usual money laundering, it helps push the young towards being commies. Raising these rates is making home ownership more and more unobtainable, and instead of people going "hey this house that would have cost me 1/4th the price 4 years ago with a 30 year mortgage, is now out of reach because the government made my money worthless on top of making interest payments double" and they are instead blaming the sellers and other networth individuals, and getting louder about how housing should be free.

Ive got to hand it to liberal politicans though, everything they do is calculated and in the service of destroying the free world.

Posted by: Rbastid at July 27, 2023 03:45 PM (YB6QN)

244 Why $3.50 a gallon gas is good for the environment and YOU.
Posted by: VOX at July 27, 2023 03:18 PM (VtYZF)
.......

$5.50 here in CA

Posted by: wth at July 27, 2023 03:45 PM (v0R5T)

245 215 215 Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:31 PM (LvTSG)

Nothing was sold to me . I gladly would have opt out if allowed . Since I wasn’t , I paid into it so I get what they say I get . I don’t get a say so on that either. What I paid in I paid for your parents SS benefit. What you pay in pays for my benefits. ‘Entitlements’ by definition don’t require you to pay money to get them.
Posted by: polynikes at July 27, 2023 03:41 PM (MNhXM)

========

It was a lie. It's obvious that it worked on a lot of people.

"Pay in, and you'll get more out."

It's literally a Ponzi scheme, but because it's government backed, they can keep it going for longer since they can print more dollars.

But again, my larger point still stands: If the die-hard constitutionalists at AoS are unwilling to cut their own entitlement payments, why should we expect there to be any body of voters who are chomping for serious entitlement reform? Is it any wonder why the GOP doesn't make any effort to cut entitlements? Is it any wonder that Trump made huge strides by promising to protect entitlements instead of cutting them? Financial conservatism is dead in the water

Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:45 PM (LvTSG)

246 Posted by: Tom Servo at July 27, 2023 03:44 PM (i9ffA)

Unfortunately my Dad never collected.

Posted by: polynikes at July 27, 2023 03:45 PM (MNhXM)

247 "I know the 29 year olds remember 15-16% years mortgage rates."

I remember 21%.

Posted by: gourmand du jour at July 27, 2023 03:45 PM (MeG8a)

248 Powell does not see the inflation rate returning to the normal level of 2% until 2025, far sooner than when he believes the Fed will start lowering rates again, he said in a press conference concluding the July Federal Open Market Committee meeting. The remarks follow the Wednesday announcement prior to the press conference by the Fed that it would raise its benchmark federal funds rate by 25 basis points to a range of 5.25% and 5.50%, reaching the highest level since 2001, according to the Fed press release.
++++
No shit. Massaged inflation is running at over 6% and real inflation is closer to 10% and interest rates are at five and a half. Interest rates should probably be closer to 11% or 12% in an undoctored market.

Posted by: Joe Mannix (Not a cop!) at July 27, 2023 03:46 PM (t0OGg)

249 Pineapple on pizza.

These malcontents haven't even tried it.

They're weak, like Ukraine. If their girl pulled a Pearl Harbor and stuck a finger up their ass during sex, they'd telephone emergency assistance and give a tearful interview about it on Hard Copy with their identities concealed by shadows.

Look, so long as she doesn't leave a Lee press on nail up there, you just limp on through the rest of your day with your chin held high. Pineapple on pizza is the same. It's a little gay, but you manfully persevere.

Posted by: bear with asymmetrical balls - an election is simply a festival for the majority at July 27, 2023 03:46 PM (ppBhU)

250 Biden's Hyperinflation will be with us "for years," Powell predicted.
.......

Joeconomics

Posted by: wth at July 27, 2023 03:46 PM (v0R5T)

251 Over/under on when the interest on the national debt first exceeds 10 trillion in a fiscal year?

If they steal the 2024 election, I'll go with 2027; even if not, maybe 2032.

Posted by: ShainS at July 27, 2023 03:46 PM (8wwub)

252 The economy could be in for chaos, as the US risks rollercoaster inflation and an unusual "full employment recession," BlackRock warned.
++++
LOL. The participation rate indicates that isn't what's going on.

Posted by: Joe Mannix (Not a cop!) at July 27, 2023 03:46 PM (t0OGg)

253 Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:45 PM (LvTSG)

Do you just ignore what people post?

Posted by: polynikes at July 27, 2023 03:46 PM (MNhXM)

254 What's so aggravating is that it hasn't translated to individual savings accounts and CD's.

-/

There are CDs for 5%+ out there. Even checking accounts are starting to give a bit of interest. My credit union is 1.85% right now. Not a lot, but it was 0.05% not long ago,

Posted by: Montec at July 27, 2023 03:46 PM (Rudgo)

255 184 Oh, that's right. Social security is an "investment". Sorry.
Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:22 PM (LvTSG)

OH! It's an age insult. Went over my head.
Sure cut SS too. I've never planned on either retiring or on collecting SS.

Posted by: Mark Andrew Edwards, buy ammo, food, water at July 27, 2023 03:32 PM

It's the "boomer" insult. Some people apparently think we don't deserve getting any of the 12% of our wages that we and our employers paid into social security for 45 years back.
Posted by: Mister Scott (Formerly GWS) at July 27, 2023 03:37 PM (ncXxy)

ah hem... its a TAX

Posted by: Chief Justice Roberts at July 27, 2023 03:46 PM (53oGX)

256 Gimme, gimme, gimme.

Gimme some more...

Posted by: Hairyback Guy

That actually sounds like a Bible verse, in Proverbs (I think)
Posted by: Prime Sister at July 27, 2023 03:22 PM (tQL7r)

It's an ABBA song.

https://tinyurl.com/ycyysdnr
Posted by: Believe it or Not
---
Spinal Tap
Gimme Some Money
https://youtu.be/WZ0AOY4iTU8

Posted by: screaming in digital at July 27, 2023 03:46 PM (aBJcM)

257 222 Knowledge is knowing tomato is a fruit

Wisdom is knowing not to put it in fruit salad
Posted by: 18-1 at July 27, 2023 03:42 PM (lc5cP)

Philosophy is wondering if ketchup is a smoothie.

Posted by: I am the Shadout Mapes, the Housekeeper at July 27, 2023 03:47 PM (PiwSw)

258 Real estate market is dead. And will just get deader in the near term,

Posted by: Montec at July 27, 2023 03:43 PM

Not around me. They just finished a new lake to supply water to Dallas. They had a sale of lakefront property with multiple 1 acre lots going for $1,000,000. The auction had over 800 people show up to bid on 72 lots by the new lake. It was pure pandemonium.

Posted by: Mister Scott (Formerly GWS) at July 27, 2023 03:47 PM (ncXxy)

259 Jeepers, Aetius. You’re crabby today. Chill out, Dude. Think about boobs or something.

Posted by: Bulgaroctonus at July 27, 2023 03:47 PM (xTRSc)

260 Actually just stop taking SS taxes out of my paycheck now. Just give me my money and let me make my own decisions like a big boy. I can handle it.

Death to all entitlements.

Posted by: Mark Andrew Edwards, buy ammo, food, water at July 27, 2023 03:47 PM (xcxpd)

261 That rollercoaster could potentially spell bad news for stocks: High inflation can weather corporate profits by increasing costs for firms. Meanwhile, falling inflation can weigh on goods prices, which is another headwind for profits.
++++
Is it just me or this is a bizarre - and likely wrong - use of the word "weather?" I think he meant not that profits can weather inflation, but that inflation will hit profits.

Posted by: Joe Mannix (Not a cop!) at July 27, 2023 03:47 PM (t0OGg)

262 Heat waves in three continents have driven the planet's average temperature in July to levels not seen in 120,000 years, scientists say

I call BS unless they can produce the daily climate summary for July 26th, 120,000 BC
Posted by: DB - shadowy figure from a past episode at July 27, 2023 03:40 PM (geLO

By location and time of day....

Posted by: LASue at July 27, 2023 03:47 PM (Ed8Zd)

263 Next you will tell me that a peanut is not a nut -- it's a legume.
---------------
Its a tuber.

Posted by: Puddinhead at July 27, 2023 03:47 PM (8Sqzu)

264 Financial conservatism is dead in the water
Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:45 PM (LvTSG)

Agreed. So the rational thing to do is to plan around an eventual currency collapse and ensuing entitlement collapse. Unfortunately it's not really as simple as buying gold(which doesn't correlate all that well with inflation to begin with).

Posted by: Red Turban Someguy - The Republic is already dead! at July 27, 2023 03:47 PM (eYoxG)

265 By the way,

Any of youse guys that want to take a hand at the US budget if you wuz kangz and shit can do that at

https://abalancingact.com/

Has current US spending, taxes, and borrowing figures and you can alter the existing budget/spending into as many subcategories as you wish.

Posted by: whig at July 27, 2023 03:48 PM (9hLLz)

266 The left has said, repeatedly, that deficits don't matter. "We owe it to ourselves! LULZ!"

So expect deficits to explode until the economy does.

Posted by: 18-1 at July 27, 2023 03:48 PM (lc5cP)

267 "I know the 29 year olds remember 15-16% years mortgage rates."

Sure and what was the price of a house? $50k?
I’ll take that vs a 6% mortgage and $500k purchase price.

Posted by: Montec at July 27, 2023 03:48 PM (Rudgo)

268 What are the principles of Bidenomics as articulated by the demented one himself?

Posted by: That Northernlurker what lurkd at July 27, 2023 03:48 PM (rWwta)

269 I don't care. Where the hell are those damn space aliens to annihilate us. I'm losing my patience.

Posted by: BeckoningChasm at July 27, 2023 03:48 PM (p+1gI)

270 253 Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:45 PM (LvTSG)

Do you just ignore what people post?
Posted by: polynikes at July 27, 2023 03:46 PM (MNhXM)

=======

You literally described a Ponzi scheme.

Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:48 PM (LvTSG)

271 253 Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:45 PM (LvTSG)

Do you just ignore what people post?
Posted by: polynikes at July 27, 2023 03:46 PM (MNhXM)

Pineapple and other fruit do not belong on pizza.

Tomato, while technically a fruit, is merely a base for pizza sauce. You are not putting slices of tomato on your pizza.

Posted by: Aetius451AD Work Laptop at July 27, 2023 03:48 PM (zZu0s)

272 Sigh. Social Security benefits have been cut quite a bit through inflation. Yeah, there is a COL adjustment but that adjustment is less than the rate of inflation.

And the COL is always partially eaten up by Medicare raising rates.

Posted by: Blake - semi lurker at large at July 27, 2023 03:48 PM (2YtOq)

273 Largest line item in the on books budget is interest on the debt. All the interest payments are made with borrowed money piled on top of the already borrowed money. And some more money is borrowed too.

For shoes and stuff.
What can possibly go wrong?

Posted by: torabora at July 27, 2023 03:48 PM (a816X)

274 "Likely scenario Chapter 7, not 11."

That famous quote from the Bhagavad Gita: "I am become 7, destroyer of companies."

Posted by: SFGoth at July 27, 2023 03:48 PM (KAi1n)

275 "My childhood was ruined": listen to heartbreaking opening statement of detransitioner @ChoooCole
Video: twitter.com/i/status/1684597870811308032

Posted by: BeautifulHillaryClinton

Holy Cow! A truly brave young woman. I pray she does well for the rest of her life.

Posted by: Tonypete at July 27, 2023 03:48 PM (qoGsy)

276 Actually just stop taking SS taxes out of my paycheck now. Just give me my money and let me make my own decisions like a big boy. I can handle it.

Death to all entitlements.
Posted by: Mark Andrew Edwards
---
+1

Posted by: screaming in digital at July 27, 2023 03:49 PM (aBJcM)

277 I wish my streaks of good luck were as "transitory" as this inflation has been.

Posted by: Defenestratus at July 27, 2023 03:49 PM (XWh0a)

278 You literally described a Ponzi scheme.
Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:48 PM (LvTSG)

TJM, that is what government is. Has been for a century or more. Moose out front shoulda told ya.

Posted by: Aetius451AD Work Laptop at July 27, 2023 03:49 PM (zZu0s)

279 Don't ever believe that 'one neat trick' over a policy wins a national election. People base their vote for all kinds of reasons and ballots don't give a shit about issues because they don't come from real people.
Posted by: whig at July 27, 2023 03:45 PM (9hLLz)

Wait, I have to tell you about the centerpiece of my election campaign based on a reduction of the marginal rate on business taxes!

Posted by: Your Average GOPe Candidate at July 27, 2023 03:49 PM (xhaym)

280 They just keep feeding the fear and panic.
Many people really have not finally woken up to the game yet.

Posted by: artisanal 'ette at July 27, 2023 03:49 PM (uQPen)

281 2001 was when I bought my house, and the rate was ~6.5% (VA). Fine for that time and *much* better than the previous 10-20 years. It was trending down, though, so it was seen as an improvement. I refi'd in 2013 for about 3.5% and I have no intent to do so again for the foreseeable future.

But this, right now anyway, isn't that bad historically.

Posted by: Jeff Weimer at July 27, 2023 03:49 PM (wgQZ1)

282 Agreed. So the rational thing to do is to plan around an eventual currency collapse and ensuing entitlement collapse. Unfortunately it's not really as simple as buying gold(which doesn't correlate all that well with inflation to begin with).
Posted by: Red Turban Someguy - The Republic is already dead! at July 27, 2023 03:47 PM (eYoxG)

I'm a big fan of food, water and ammo as investments.

Posted by: Mark Andrew Edwards, buy ammo, food, water at July 27, 2023 03:49 PM (xcxpd)

283 278 You literally described a Ponzi scheme.
Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:48 PM (LvTSG)

TJM, that is what government is. Has been for a century or more. Moose out front shoulda told ya.
Posted by: Aetius451AD Work Laptop at July 27, 2023 03:49 PM (zZu0s)

=========

Doesn't mean I have to support it.

Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:49 PM (LvTSG)

284 But again, my larger point still stands: If the die-hard constitutionalists at AoS are unwilling to cut their own entitlement payments, why should we expect there to be any body of voters who are chomping for serious entitlement reform? Is it any wonder why the GOP doesn't make any effort to cut entitlements? Is it any wonder that Trump made huge strides by promising to protect entitlements instead of cutting them? Financial conservatism is dead in the water

Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:45 PM

You must have missed the post where I said I would be willing to take a 10% cut in both of my Federal government checks, Navy retirement and social security if everyone single person getting a government check was cut by 10% across the board.

Posted by: Mister Scott (Formerly GWS) at July 27, 2023 03:49 PM (ncXxy)

285 If cashews are wrong I don't want to be right.

Posted by: eleven at July 27, 2023 03:50 PM (iziT8)

286 Corporate profits are at record highs because companies are raising prices beyond the rate of inflation, dunce. Guess what comes next?

Posted by: Furbinator at July 27, 2023 03:50 PM (Odd4r)

287 Heat waves in three continents have driven the planet's average temperature in July to levels not seen in 120,000 years, scientists say

I call BS unless they can produce the daily climate summary for July 26th, 120,000 BC
Posted by: DB - shadowy figure from a past episode at July 27, 2023 03:40 PM (geLO

But....but.....the rings in that petrified tree....
Posted by: Dr. Pork Chops & Bacons at July 27, 2023 03:44 PM (BdMk6)
_______________

... that was cherry-picked from a whole bunch of trees that were rejected for inconsistency with the narrative.

Posted by: Deplorable Jay Guevara at July 27, 2023 03:50 PM (YqDXo)

288 But again, my larger point still stands: If the die-hard constitutionalists at AoS are unwilling to cut their own entitlement payments, why should we expect there to be any body of voters who are chomping for serious entitlement reform? Is it any wonder why the GOP doesn't make any effort to cut entitlements? Is it any wonder that Trump made huge strides by promising to protect entitlements instead of cutting them? Financial conservatism is dead in the water
Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:45 PM (LvTSG)

So you're saying that you will refuse Medicare and Social security when the time comes?

Posted by: Believe it or Not at July 27, 2023 03:50 PM (JqMqI)

289 You are not putting slices of tomato on your pizza.
--------------
The Margarette Pizza wants a word with you.

Posted by: Puddinhead at July 27, 2023 03:50 PM (8Sqzu)

290 I don't care. Where the hell are those damn space aliens to annihilate us. I'm losing my patience.

DUDE!

We just want to come down, drink some brews, beam up a few cows, peep in a few windows, and probe some hot human back doors.

What kind of beings do you think we are?

Posted by: Biff on college break from Betelguese University at July 27, 2023 03:50 PM (lc5cP)

291 Heat waves in three continents have driven the planet's average temperature in July to levels not seen in 120,000 years, scientists say

I call BS unless they can produce the daily climate summary for July 26th, 120,000 BC
Posted by: DB - shadowy figure from a past episode at July 27, 2023 03:40 PM (geLO

And a simple question, even assuming they could produce that date: Since fossil fuels weren't used in 120,000 BC, what caused the high temps?

Posted by: LASue at July 27, 2023 03:50 PM (Ed8Zd)

292 Next you will tell me that a peanut is not a nut -- it's a legume.
---------------
Its a tuber.
Posted by: Puddinhead
_____

A musical instrument? I think not.

Posted by: John Phillips Sousa at July 27, 2023 03:50 PM (lf83v)

293 What are the principles of Bidenomics as articulated by the demented one himself?
Posted by: That Northernlurker what lurkd
---
10% for the Big Guy

Posted by: screaming in digital at July 27, 2023 03:50 PM (aBJcM)

294 You are not putting slices of tomato on your pizza.
Posted by: Aetius451AD Work Laptop

Thin crust, extra cheese, tomato slices, mushrooms, onions, garlic, black olives, and a meat of your choice (bacon is well-received).

Posted by: SFGoth at July 27, 2023 03:50 PM (KAi1n)

295
Not around me. They just finished a new lake to supply water to Dallas. They had a sale of lakefront property with multiple 1 acre lots going for $1,000,000. The auction had over 800 people show up to bid on 72 lots by the new lake. It was pure pandemonium.
Posted by: Mister Scott (Formerly GWS) at July 27, 2023 03:47 PM (ncXxy)

There will always be exceptions. Some cities had no appreciation 2020-2022 while the country as a whole went crazy.

Nationally real estate is dead right now. June had the lowest number of sales in mucho mucho years.

Posted by: Montec at July 27, 2023 03:50 PM (Rudgo)

296 I struggle to contain my rage against anyone voting Democrat. All of this - all of it - was totally, totally, foreseeable.

Posted by: Deplorable Jay Guevara at July 27, 2023 03:50 PM (YqDXo)

297 This is my position as well but you still have to quit printing money. Raising rates without curtailing spending is a recipe for disaster.
Posted by: polynikes at July 27, 2023 03:13 PM (MNhXM)
==
The fed actually has started doing this. It actually has caused a very nasty liquidity issue on a global basis.

And by the way - I never consider monetary policy to drive inflation. Economic productivity always is the driver, monetary policy is just the enabler.

Posted by: Black JEM at July 27, 2023 03:51 PM (UVyKP)

298 My block had 3 houses for sale, all sold for more than asking and in a very short period of time, like a week or 2. All were over $1M. One sold for $1.4M.

Posted by: gourmand du jour at July 27, 2023 03:51 PM (MeG8a)

299 272 Sigh. Social Security benefits have been cut quite a bit through inflation. Yeah, there is a COL adjustment but that adjustment is less than the rate of inflation.

And the COL is always partially eaten up by Medicare raising rates.
Posted by: Blake - semi lurker at large at July 27, 2023 03:48 PM (2YtOq)

The proportion of people paying in to taking out is only getting worse over time. Given sufficient inflation, which is really a payout cut by other means, sure the system can be made solvent again. More likely we're going to see much higher levels of inflation at once then that though, as the US will continue to stack up debt on the way.

Posted by: Red Turban Someguy - The Republic is already dead! at July 27, 2023 03:51 PM (eYoxG)

300 124 probably half the people who vote think it's the fault of the oil companies, the meat packing companies and all the other that the dems have blamed. also putin and trump.
Posted by: gnats local 678

BIG GROCERY!!!!!
NATIONALIZE GROCERY STORES NOW!!!!
BADORANGEMAN!!!

Posted by: Puddleglum at July 27, 2023 03:51 PM (sAmhv)

301 I don't know a lot about economics. But every day of my working life, I was compelled by law to pay SocSec taxes, with the promise that there would be something on the back end. Well, I'm there. I'm retired. I want the juice I was promised. If that makes me a bad person or not a conservative, I can live with that.

Posted by: DB - shadowy figure from a past episode at July 27, 2023 03:51 PM (geLO8)

302 Agreed. So the rational thing to do is to plan around an eventual currency collapse and ensuing entitlement collapse. Unfortunately it's not really as simple as buying gold(which doesn't correlate all that well with inflation to begin with).
-
Yeah, gold isn't going to help you in an economy without a currency.

Posted by: Methos at July 27, 2023 03:51 PM (kOpft)

303 The aliens just came here to get small block Chevys for their engine swaps

Posted by: Azjaeger at July 27, 2023 03:51 PM (q97Za)

304 It's literally a Ponzi scheme, but because it's government backed, they can keep it going for longer since they can print more dollars.
Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:45 PM (LvTSG)

Concur. The social security ponzi scheme, like any other fed program, was and is used to train people to accept socialism for their own good and to buy their votes.

Once trained, they will never untrain unless they have an epiphany.

Posted by: Hairyback Guy at July 27, 2023 03:51 PM (b+YaX)

305 250 Biden's Hyperinflation will be with us "for years," Powell predicted.
.......

Joeconomics
Posted by: wth at July 27, 2023 03:46 PM (v0R5T)

Joeconomics.

Heh!

Posted by: Cuthbert the Witless at July 27, 2023 03:51 PM (rWLfI)

306 288 So you're saying that you will refuse Medicare and Social security when the time comes?
Posted by: Believe it or Not at July 27, 2023 03:50 PM (JqMqI)

========

I've been told that it won't be there when I get old enough to take them.

I'm financial planning where I shouldn't need it. We'll see how things are in 30 years when the question is presented to me.

Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:51 PM (LvTSG)

307 I struggle to contain my rage against anyone voting Democrat. All of this - all of it - was totally, totally, foreseeable.

Pretty much everything the left claimed was a "rightwing conspiracy theory" since 2016 has come true.

And they'll call predictions of continuing inflation and an economic depression conspiracy theories too.

Posted by: 18-1 at July 27, 2023 03:51 PM (lc5cP)

308 Philosophy is wondering if ketchup is a smoothie.
Posted by: I am the Shadout Mapes, the Housekeeper at July 27, 2023 03:47 PM (PiwSw)

It is technically a spiced jam

Posted by: Your Average GOPe Candidate at July 27, 2023 03:52 PM (xhaym)

309 Any of youse guys that want to take a hand at the US budget if you wuz kangz and shit can do that at

https://abalancingact.com/

Has current US spending, taxes, and borrowing figures and you can alter the existing budget/spending into as many subcategories as you wish.
Posted by: whig at July 27, 2023 03:48 PM (9hLLz)
.......

I'll just use NukeMap

Posted by: wth at July 27, 2023 03:52 PM (v0R5T)

310 297 This is my position as well but you still have to quit printing money. Raising rates without curtailing spending is a recipe for disaster.
Posted by: polynikes at July 27, 2023 03:13 PM (MNhXM)
==
The fed actually has started doing this. It actually has caused a very nasty liquidity issue on a global basis.

And by the way - I never consider monetary policy to drive inflation. Economic productivity always is the driver, monetary policy is just the enabler.
Posted by: Black JEM at July 27, 2023 03:51 PM (UVyKP)

Add a 0 to every dollar bill and you don't think prices will increase? You have to actually make goods, quantity of currency by comparison is easy to adjust.

Posted by: Red Turban Someguy - The Republic is already dead! at July 27, 2023 03:52 PM (eYoxG)

311 What are the principles of Bidenomics as articulated by the demented one himself?
Posted by: That Northernlurker what lurkd
_____________

Money for you (Democrat constituency #1), money for you (#2), money for you (#3), ... etc.

Posted by: Deplorable Jay Guevara at July 27, 2023 03:52 PM (YqDXo)

312 I struggle to contain my rage against anyone voting Democrat.
________

Me too. I despise them.

Posted by: Adirondack Patriot at July 27, 2023 03:52 PM (lf83v)

313 >>You must have missed the post where I said I would be willing to take a 10% cut in both of my Federal government checks, Navy retirement and social security if everyone single person getting a government check was cut by 10% across the board.

I'd do it. I always planned on SS being at best extra cash not the core of my retirement.

Posted by: JackStraw at July 27, 2023 03:52 PM (ZLI7S)

314 At some point home prices will have to come down. Home prices are still rising but the pool of buyers is shrinking and it will become a buyers market at some point. But I really do not understand how people are affording $2500-3000 mortgage payments, along with ever increasing real estate taxes, insurance etc and car payments.

Posted by: Jen the original at July 27, 2023 03:52 PM (Rl89V)

315 Nominal "full employment?" LMAO.

The current Labor Participation Rate -- which likely excludes tens of millions of illegal aliens fortifying the Free Shit Army -- is 62.6%.

"Missed it by that much ..."

Posted by: ShainS at July 27, 2023 03:52 PM (8wwub)

316 Speaking of sliced tomatos, a Caprese is a great appetizer.

Posted by: I am the Shadout Mapes, the Housekeeper at July 27, 2023 03:52 PM (PiwSw)

317 >>If cashews are wrong I don't want to be right.

Posted by: eleven

ACKshually, the cashew is not a nut

Posted by: DB - shadowy figure from a past episode at July 27, 2023 03:53 PM (geLO8)

318 Just as an aside, although it's related. I have some US Treasury bills (short-term stuff). I have a variety of them in various short durations. It doesn't pay much, but it pays more than a savings account (even a "high-yield" savings account).

Over the past month, my blended yield has moved from 5.088% to 5.259%. That doesn't sound like much (and it isn't), but the actual yield being paid by the Treasury (for my specific blend) has increased by almost one percent. In five weeks.

If that keeps up, we're in fiscal crisis territory before too long.

Posted by: Joe Mannix (Not a cop!) at July 27, 2023 03:53 PM (t0OGg)

319 The Senator Satanic Preacher from GA ran on the platform that inflation was caused by the evil shipping company cartels.

Posted by: 18-1 at July 27, 2023 03:53 PM (lc5cP)

320 There are CDs for 5%+ out there. Even checking accounts are starting to give a bit of interest. My credit union is 1.85% right now. Not a lot, but it was 0.05% not long ago,
Posted by: Montec at July 27, 2023 03:46 PM (Rudgo)

My Savings account is 4%, I remember way back just before Barky the dog eater getting 9% on savings.

Posted by: Chief Justice Roberts at July 27, 2023 03:53 PM (53oGX)

321 Nothing was sold to me . I gladly would have opt out if allowed . Since I wasn’t , I paid into it so I get what they say I get . I don’t get a say so on that either. What I paid in I paid for your parents SS benefit. What you pay in pays for my benefits. ‘Entitlements’ by definition don’t require you to pay money to get them.
Posted by: polynikes

You know, back in the olden days (early 90s) you could opt out of SS. Idk if it was job specific, but there were folks at the seminary where we lived who has opted out. They couldn't change their minds, and could never draw any SS check. And neither could your family members if something happened to the wage-earner. I knew a couple of wives who were really concerned about their future financial predicament if their spouses died.

Posted by: Prime Sister at July 27, 2023 03:53 PM (tQL7r)

322 Euthanasia. Coming to a hospital near you.
Posted by: Joey Sausage at July 27, 2023 03:45 PM (or2+y)

I'm thinking it's probably already here.

Posted by: Dr. Pork Chops & Bacons at July 27, 2023 03:53 PM (BdMk6)

323 But again, my larger point still stands: If the die-hard constitutionalists at AoS are unwilling to cut their own entitlement payments, why should we expect there to be any body of voters who are chomping for serious entitlement reform?

This gets the causation reversed. I'm not willing to cut, because the American public and its wretched government has made it clear that it not happening. We can't band together and beat this through frugality. And any claim we should is just the usual "neutral principles" and "this isn't who we are" talk. So, yes, I am going to take what I can when I can. Because that's the only game in town. Until the system collapses. When things have to get rebuilt, we can talk about foundational principles again.

Posted by: bear with asymmetrical balls - an election is simply a festival for the majority at July 27, 2023 03:53 PM (ppBhU)

324 302 Agreed. So the rational thing to do is to plan around an eventual currency collapse and ensuing entitlement collapse. Unfortunately it's not really as simple as buying gold(which doesn't correlate all that well with inflation to begin with).
-
Yeah, gold isn't going to help you in an economy without a currency.
Posted by: Methos at July 27, 2023 03:51 PM (kOpft)

Usually a currency collapse means using another currency or some good as a means of exchange. In a lot of other countries that is US dollars. Dunno what that'll end up being in the US.

Posted by: Red Turban Someguy - The Republic is already dead! at July 27, 2023 03:53 PM (eYoxG)

325 Nobody wants to give up their benefits because thy were forced to pay into the system. I get it.

Posted by: Montec at July 27, 2023 03:53 PM (Rudgo)

326 264 Financial conservatism is dead in the water
Posted by: TheJamesMadison

Agreed. So the rational thing to do is to plan around an eventual currency collapse and ensuing entitlement collapse. Unfortunately it's not really as simple as buying gold(which doesn't correlate all that well with inflation to begin with).
Posted by: Red Turban Someguy
---------
Have your wealth portable, at hand, and needed work skills is what third world elites have done for years during periods of uncertainty in teh economy.

Carpenters, plumbers, electricians, mechanics, welders, machinists, and so on can keep their head above water. Those that can do medicine in a low tech environment will do well and farmers/distillers/dope merchants will also probably do ok.

Posted by: whig at July 27, 2023 03:54 PM (9hLLz)

327 308 Philosophy is wondering if ketchup is a smoothie.
Posted by: I am the Shadout Mapes, the Housekeeper at July 27, 2023 03:47 PM (PiwSw)

It is technically a spiced jam
-------------
Its a puree.

Posted by: Puddinhead at July 27, 2023 03:54 PM (8Sqzu)

328 You literally described a Ponzi scheme.
Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:48 PM (LvTSG)

TJM, that is what government is. Has been for a century or more. Moose out front shoulda told ya.
Posted by: Aetius451AD Work Laptop at July 27, 2023 03:49 PM (zZu0s)

=========

Doesn't mean I have to support it.
Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:49 PM (LvTSG)

No, we're why you have to support it

Posted by: Armed and ready diverse and derpy IRS legion of enforcers at July 27, 2023 03:54 PM (kOpft)

329 there is no inflation but if there were it would be good for you.
Posted by: Ripley at July 27, 2023 03:12 PM (KrJTL)

Another win/win situation from the neolibs!

It's not zero sum MAGAtards.

Posted by: Thesokorus at July 27, 2023 03:54 PM (xjbf5)

330 296 I struggle to contain my rage against anyone voting Democrat. All of this - all of it - was totally, totally, foreseeable.
Posted by: Deplorable Jay Guevara

I live in Babylon DC so I understand. I work and live among them. It's like living inside the Jonestown compound. Even the politics here are similar to Jim Jones beliefs.

Posted by: Puddleglum at July 27, 2023 03:54 PM (sAmhv)

331 Cashew pizza.

*mic drop*

Posted by: eleven at July 27, 2023 03:54 PM (iziT8)

332 323 This gets the causation reversed. I'm not willing to cut, because the American public and its wretched government has made it clear that it not happening. We can't band together and beat this through frugality. And any claim we should is just the usual "neutral principles" and "this isn't who we are" talk. So, yes, I am going to take what I can when I can. Because that's the only game in town. Until the system collapses. When things have to get rebuilt, we can talk about foundational principles again.
Posted by: bear with asymmetrical balls - an election is simply a festival for the majority at July 27, 2023 03:53 PM (ppBhU)

========

I just get tired of the idea that the GOP should be running on cutting entitlements. Who's demanding that they do? Not their voters.

Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:54 PM (LvTSG)

333 >> If the die-hard constitutionalists at AoS are unwilling to cut their own entitlement payments, why should we expect there to be any body of voters who are chomping for serious entitlement reform?

*puts hand up*

I don't *get* any entitlement payments so taking a cut of $0 is no sacrifice on my part. It's not like social security will be around when I'm ready to retire in another 23 years anyways.

Posted by: Defenestratus at July 27, 2023 03:54 PM (XWh0a)

334 Pretty much everything the left claimed was a "rightwing conspiracy theory" since 2016 has come true.

And they'll call predictions of continuing inflation and an economic depression conspiracy theories too.
Posted by: 18-1 at July 27, 2023 03:51 PM (lc5cP)
________________

I refuse to believe any conspiracy theory until Biden denies it. That confirms its truth 100% in my book.

Posted by: Deplorable Jay Guevara at July 27, 2023 03:55 PM (YqDXo)

335 197 And before you start on 'Tomato is a fru-', fuck that.
Posted by: Aetius451AD Work Laptop at July 27, 2023 03:39 PM

Perhaps you're all overlooking another important contestant?

Posted by: Olives at July 27, 2023 03:55 PM (JCZqz)

336 You know, back in the olden days (early 90s) you could opt out of SS. Idk if it was job specific, but there were folks at the seminary where we lived who has opted out. They couldn't change their minds, and could never draw any SS check. And neither could your family members if something happened to the wage-earner. I knew a couple of wives who were really concerned about their future financial predicament if their spouses died.
Posted by: Prime Sister

That is from the ministerial exception where the state cannot tax religious faiths that was built into the Social Security Act. Local and state governments can opt in or out as they choose for employees.

Posted by: whig at July 27, 2023 03:55 PM (9hLLz)

337 "Is it any wonder why the GOP doesn't make any effort to cut entitlements?"

Debt is rising at twice the rate of revenue. The biggest driver is entitlements. Revenue is still within it's historic bands, rising and falling within economic activity. You can not raise taxes enough to cover the current debt, notwithstanding the fact that every credible economic analysis shows that raising taxes will result in less revenue.

Nobody in Congress has the balls to do anything about it. That's because it would start with cutting the welfare state, which is being raided by people who never paid in or were meant to get it. That includes things like the parents of chain migrators who have been raiding programs like SSD.

Posted by: Furbinator at July 27, 2023 03:55 PM (Odd4r)

338 >>wondering if ketchup is a smoothie.
Posted by: I am the Shadout Mapes, the Housekeeper

It is technically a spiced jam
-------------
Its a puree.

Posted by: Puddinhead

It's a floor wax

Posted by: DB - shadowy figure from a past episode at July 27, 2023 03:55 PM (geLO8)

339 I struggle to contain my rage against anyone voting Democrat. All of this - all of it - was totally, totally, foreseeable.

Posted by: Deplorable Jay Guevara at July 27, 2023 03:50 PM (YqDXo)

THIS. I have relatives i cannot engage with because I know I'll break very bad on them. And really...why bother. They can't keep their smug ignorant mouths shut and we have no values in common.

Posted by: Joey Sausage at July 27, 2023 03:55 PM (or2+y)

340 and I hope you all are buying Hunts, not Heinz

Posted by: DB - shadowy figure from a past episode at July 27, 2023 03:56 PM (geLO8)

341 What are the principles of Bidenomics as articulated by the demented one himself?
Posted by: That Northernlurker what lurkd
_____________

Money for you (Democrat constituency #1), money for you (#2), money for you (#3), ... etc.
Posted by: Deplorable Jay Guevara at July 27, 2023 03:52 PM (YqDXo)

----------

Also: "The only cure for hyperinflation is to print and spend tens of trillions more dollars!"

And enrich Wall Street by destroying Main Street.

Posted by: ShainS at July 27, 2023 03:56 PM (8wwub)

342 Let's see. I've contributed to Social Security for 50 years, with the promise that I'd be paid back with interest. Now I'm receiving my withheld wages, still paying taxes on the returned wages, but now it's a welfare payment and I'm a moocher?

Posted by: Regular joe. Not just mad, Samuel L Jackson mad at July 27, 2023 03:56 PM (nnp+f)

343 one difference between social security and an annuity is annuity payments don;t get adjusted for 'inflation'

Posted by: gnats local 678 at July 27, 2023 03:56 PM (B1FKF)

344 So you're saying that you will refuse Medicare and Social security when the time comes?
Posted by: Believe it or Not at July 27, 2023 03:50 PM (JqMqI)

========

I've been told that it won't be there when I get old enough to take them.

I'm financial planning where I shouldn't need it. We'll see how things are in 30 years when the question is presented to me.
Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July

So did I until being kicked to curb due age discrimination and good luck getting hired when you're 55+. Those self reliance plans and money went up in flames trying to not to end up on skid row.

Posted by: Believe it or Not at July 27, 2023 03:56 PM (JqMqI)

345 It's a floor wax

Posted by: DB - shadowy figure from a past episode at July 27, 2023 03:55 PM (geLO

Never gets old. Lol.

Posted by: Joey Sausage at July 27, 2023 03:56 PM (or2+y)

346 As the Bureaucracy grows so does the budget

Posted by: Skip at July 27, 2023 03:56 PM (CQAiS)

347 You literally described a Ponzi scheme.
Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:48 PM (LvTSG)

No a ponzi scheme is a covert illegal scam with no intention to pay out . SS is a tax that provides continued benefits theoretically from the taxes collected once you become eligible. That you don’t become eligible until way after the money you were taxed is used to pay current liabilities is not a Ponzi scheme. It’s how governments work to fund everything. The premiums you pay for insurance isn’t the same money used to pay you years later to pay a claim you might file.

Posted by: polynikes at July 27, 2023 03:57 PM (MNhXM)

348 and I hope you all are buying Hunts, not Heinz
Posted by: DB - shadowy figure from a past episode at July 27, 2023 03:56 PM (geLO8

=====

I personally buy whatever the generic brand is at the commissary.

Posted by: Jordan61 at July 27, 2023 03:57 PM (DRSnL)

349 I've a novel idea: before attacking social security, maybe make drug testing and proof of citizenship mandatory for welfare recipients? Maybe cap benefits at two out of wedlock kids?

Posted by: Blake - semi lurker at large at July 27, 2023 03:57 PM (2YtOq)

350 I struggle to contain my rage against anyone voting Democrat. All of this - all of it - was totally, totally, foreseeable.

The HIV lefties I get. They are looting the treasury knowing that eventually they will bankrupt it...they just want to get "generational wealth" first.

The lefty LIVs though? They refuse to consider who is paying for their Bidenbux and what happens when those people are tapped out..specifically what happens to THEM when their are no more EBT cards and Obamaphones

Posted by: 18-1 at July 27, 2023 03:57 PM (lc5cP)

351 Nobody in Congress has the balls to do anything about it. That's because it would start with cutting the welfare state, which is being raided by people who never paid in or were meant to get it. That includes things like the parents of chain migrators who have been raiding programs like SSD.
Posted by: Furbinator at July 27, 2023 03:55 PM (Odd4r)
++++
SSDI fraud is a serious problem, but a manageable one.
Social Security itself is a manageable problem.
SNAP is a manageable problem.
Even the FHA is a manageable problem.

What is *not* a manageable problem is Medicare and Medicaid. They are eating the federal budget, and will destroy it.

Posted by: Joe Mannix (Not a cop!) at July 27, 2023 03:58 PM (t0OGg)

352 I'm thinking it's probably already here.
Posted by: Dr. Pork Chops & Bacons at July 27, 2023 03:53 PM (BdMk6)

Oh, it is already here. Behold the propaganda:

https://is.gd/vlj5rR

Posted by: I am the Shadout Mapes, the Housekeeper at July 27, 2023 03:58 PM (PiwSw)

353 347 You literally described a Ponzi scheme.
Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:48 PM (LvTSG)

No a ponzi scheme is a covert illegal scam with no intention to pay out . SS is a tax that provides continued benefits theoretically from the taxes collected once you become eligible. That you don’t become eligible until way after the money you were taxed is used to pay current liabilities is not a Ponzi scheme. It’s how governments work to fund everything. The premiums you pay for insurance isn’t the same money used to pay you years later to pay a claim you might file.
Posted by: polynikes at July 27, 2023 03:57 PM (MNhXM)

Ponzi schemes pay out until they run out of cash flow from new participants to cover what is owed prior participants.

That's literally how Social Security is structured and how it will fail.

Posted by: Red Turban Someguy - The Republic is already dead! at July 27, 2023 03:58 PM (eYoxG)

354 Here's the "Gimme! Gimme! Gimme!" proverb:

"There are three things that are never satisfied, four that never say, 'Enough! ': the grave, the barren womb, land, which is never satisfied with water, and fire, which never says, 'Enough!" Proberbs 30:15-16

Posted by: Prime Sister at July 27, 2023 03:58 PM (tQL7r)

355 347 No a ponzi scheme is a covert illegal scam with no intention to pay out . SS is a tax that provides continued benefits theoretically from the taxes collected once you become eligible. That you don’t become eligible until way after the money you were taxed is used to pay current liabilities is not a Ponzi scheme. It’s how governments work to fund everything. The premiums you pay for insurance isn’t the same money used to pay you years later to pay a claim you might file.
Posted by: polynikes at July 27, 2023 03:57 PM (MNhXM)

========

So, it's a tax, not an investment, paid for by new entrants and benefits paid out to older entrants. Yeah, that's a Ponzi Scheme.

Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:58 PM (LvTSG)

356 Insurance, unlike Ponzi schemes and Social Security(a type of Ponzi scheme), actually invest money.

Posted by: Red Turban Someguy - The Republic is already dead! at July 27, 2023 03:58 PM (eYoxG)

357 I refuse to believe any conspiracy theory until Biden denies it. That confirms its truth 100% in my book.

Heh!! Yep, that's what I do.

Posted by: Puddleglum at July 27, 2023 03:58 PM (sAmhv)

358 Usually a currency collapse means using another currency or some good as a means of exchange. In a lot of other countries that is US dollars. Dunno what that'll end up being in the US.
-
The problem is whatever the replacement is has to be something most everyone has access to and are used to using, at least on occasion.

US consumers are used to using credit cards, and it's hard to see how that translates to 'something else' that the merchants will take.

Posted by: Methos at July 27, 2023 03:59 PM (kOpft)

359 one difference between social security and an annuity is annuity payments don;t get adjusted for 'inflation'
Posted by: gnats local 678 at July 27, 2023 03:56 PM (B1FKF

I don’t think SS should be adjusted that way either. The 8% increase they just did compounds the problem.

Posted by: polynikes at July 27, 2023 03:59 PM (MNhXM)

360 I was in and out of the NASDQ and managed +2.24%, but it wasn't easy.

On the bright side, a generally down day for my enemies.

https://bityl.co/K7eD

Posted by: G'rump928(c) at July 27, 2023 03:59 PM (aD39U)

361 The HIV lefties I get. They are looting the treasury knowing that eventually they will bankrupt it...they just want to get "generational wealth" first.

Wait...why are the gays looting the treasury? Ahhh, probably looking for booty.

Posted by: Confused Moron at July 27, 2023 03:59 PM (JCZqz)

362 Usually a currency collapse means using another currency or some good as a means of exchange. In a lot of other countries that is US dollars. Dunno what that'll end up being in the US.
Posted by: Red Turban Someguy - The Republic is already dead! at July 27, 2023 03:53 PM (eYoxG)

Coups and massive Government forced re-industrialization is the only thing that has every really stopped such things.

Sadly, usually involving a foreign war.

Say what you will, but Hjalmar Schacht did a good job with GER currency issues.

Posted by: Thesokorus at July 27, 2023 03:59 PM (xjbf5)

363 Shhhh...the dirty little secret about social security is most folks were supposed to die before they collected anything.

The feds can't even do that right.

Posted by: Hairyback Guy at July 27, 2023 03:59 PM (b+YaX)

364 I always planned on SS being at best extra cash not the core of my retirement.
Posted by: JackStraw at July 27, 2023 03:52 PM (ZLI7S)
---
Same here. It'll hopefully just be a little extra gravy on top of the money I'll receive from my university pension and investment accounts.

Posted by: "Perfessor" Squirrel at July 27, 2023 03:59 PM (YIVH2)

365 Ponzi schemes pay out until they run out of cash flow from new participants to cover what is owed prior participants.
------------
So killing retired Democrats would be good for the country, rite?

Posted by: Puddinhead at July 27, 2023 04:00 PM (DmtxH)

366 Let's see. I've contributed to Social Security for 50 years, with the promise that I'd be paid back with interest. Now I'm receiving my withheld wages, still paying taxes on the returned wages, but now it's a welfare payment and I'm a moocher?
Posted by: Regular joe. Not just mad, Samuel L Jackson mad at July 27, 2023 03:56 PM (nnp+f)
++++
By law? Yes.

Social Security is not what the government says it is. It is not a retirement plan or annuity or pension. You pay taxes and those taxes fund the government. The government pays out a benefit. The amount of the payout is related to the amount of tax paid, but it isn't actually set up that way. Social Security is a welfare program and its special line-item tax is merely a tax with a special name.

The entire structure of Social Security, from a marketing standpoint, is a lie. It has always been a lie.

Posted by: Joe Mannix (Not a cop!) at July 27, 2023 04:00 PM (t0OGg)

367 253 Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:45 PM (LvTSG)

Do you just ignore what people post?
Posted by: polynikes at July 27, 2023 03:46 PM (MNhXM)

His point doesn't contradict yours, and RedTurban at 264 just pointed out what this all really means: The problem with so-called "entitlements" is that they CANNOT be cut, not by any party, not by any politician. Too many people depend on them and will go ballistic if someone tries to stop them - so they will go on until the weight of them causes our entire financial, social, and governmental system to dramatically crash and burn. It's inevitable now, no one can stop it, and only the exact timing remains in doubt.

Posted by: Tom Servo at July 27, 2023 04:00 PM (i9ffA)

368 i knew a young lady in college ages ago who'd been a drug addict. she told me she and her type would go into the automat in midtown manhattan, get hot water for free and add ketchup to make soup. she came from a well to do family, too.

Posted by: gnats local 678 at July 27, 2023 04:00 PM (B1FKF)

369 By definition, there isn't a full employment recession. The job losses are what cause the economic activity to fall and kill inflation. I guess when so many people have 2 or 3 jobs they can call it full employment, even though plenty of people don't have jobs.

Posted by: Thomas Paine at July 27, 2023 04:01 PM (SRpQL)

370

Perry Johnson will cut everything by two per cent.

https://www.perryjohnson.com

Posted by: Bertram Cabot, Jr. at July 27, 2023 04:01 PM (63Dwl)

371 Usually a currency collapse means using another currency or some good as a means of exchange. In a lot of other countries that is US dollars. Dunno what that'll end up being in the US.
Posted by: Red Turban Someguy - The Republic is already dead! at July 27, 2023 03:53 PM (eYoxG)

It'll be the marks system. Karl marks.

Posted by: Dr. Pork Chops & Bacons at July 27, 2023 04:01 PM (BdMk6)

372 Good to know we're all going broke, but at least the Biden family is getting richer by the day.

Posted by: Wyatt Earp at July 27, 2023 04:01 PM (d2bW3)

373 "What is *not* a manageable problem is Medicare and Medicaid. They are eating the federal budget, and will destroy it.
Posted by: Joe Mannix (Not a cop!) at July 27, 2023 03:58 PM (t0OGg)"

Wait. You mean providing "free" healthcare to people who never paid into it is not sustainable? Hater. Go to your local emergency room and look at the illegal immigrants who are using that for free as there personal healthcare facility. It's costing the US taxpayers billions.

Posted by: Furbinator at July 27, 2023 04:01 PM (Vv0FN)

374 US consumers are used to using credit cards, and it's hard to see how that translates to 'something else' that the merchants will take.
Posted by: Methos at July 27, 2023 03:59 PM (kOpft)

Well payment systems being used for crypto in third world countries show some promise. Recent changes in the financial sector make switching to other currencies easily seem a lot more plausible than they were in the past.

Posted by: Red Turban Someguy - The Republic is already dead! at July 27, 2023 04:01 PM (eYoxG)

375 I'd do it. I always planned on SS being at best extra cash not the core of my retirement.
Posted by: JackStraw at July 27, 2023 03:52 PM (ZLI7S)
_______________

This. It drives me wild when idiots bleat the Social Security isn't enough to live on.

IT WAS NEVER SUPPOSED TO BE, YOU NITWIT! IT WAS SUPPOSED TO BE A SWEETENER TO TOP UP YOUR SAVINGS, WHICH IN YOUR CASE ARE OBVIOUSLY NON-EXISTENT!

Sheesh.

Posted by: Deplorable Jay Guevara at July 27, 2023 04:01 PM (YqDXo)

376 Increase the earnings cap for SS from a buck 60 per year.

Medicare has no cap

Posted by: Steve_in_SoCal at July 27, 2023 04:02 PM (FxH7T)

377 To summarize some Lefty politician or apologist's defense of SS, it can't be a Ponzi scheme, because those are illegal, and Congress passed a law creating SS.

This was said earnestly, as if it were an absolute, slam-dunk, irrefutable defense.

Posted by: Moron Analyst at July 27, 2023 04:02 PM (JCZqz)

378 People need to understand SS tax is just that, a tax. It goes into the general fund. As does Medicare tax. There’s no defined, guaranteed benefit. The govt could one day say thanks for the cash now fuck off.

Posted by: Montec at July 27, 2023 04:02 PM (Rudgo)

379 369 By definition, there isn't a full employment recession. The job losses are what cause the economic activity to fall and kill inflation. I guess when so many people have 2 or 3 jobs they can call it full employment, even though plenty of people don't have jobs.
Posted by: Thomas Paine at July 27, 2023 04:01 PM (SRpQL)

You can have a shrinking economy alongside full employment if the labor force is declining. Which is the global trend for most countries.

Posted by: Red Turban Someguy - The Republic is already dead! at July 27, 2023 04:02 PM (eYoxG)

380 As I've posted before, one of our two major political parties has as its sole organizing principle coveting thy neighbor's house, wife, manservant, maidservant, ox, ass, and everything else that is thy neighbor's.

Posted by: Caesar North of the Rubicon at July 27, 2023 04:02 PM (7B5FA)

381 But what of The Lockbox?

Posted by: G'rump928(c) at July 27, 2023 04:02 PM (aD39U)

382 >>I just get tired of the idea that the GOP should be running on cutting entitlements. Who's demanding that they do? Not their voters.

Reality is demanding it. Before you hit retirement there will either be an enormous correction in entitlements or a major economic crash that will have an enormous affect on your and your family's life worse than a minor entitlement reform would have.

It's just basic math. I didn't want entitlement reform because I'm super virtuous, believe me I'm not. I want it because I'd prefer we don't have another major depression. But I'm to the point now where I am tired of advocating for something that the vast majority either doesn't understand or doesn't care about and I'm old enough that the odds are I will miss the worst of the pain.

So laissez les bon temps rouler and party on Wayne. I got mine, enjoy the flood.

Posted by: JackStraw at July 27, 2023 04:02 PM (ZLI7S)

383 Posted by: Tom Servo at July 27, 2023 04:00 PM (i9ffA)

His point was you , an aos commenter, is not willing any austerity or reform of SS.

Is that true for you?

Posted by: polynikes at July 27, 2023 04:03 PM (MNhXM)

384 I just get tired of the idea that the GOP should be running on cutting entitlements. Who's demanding that they do? Not their voters.
Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 03:54 PM (LvTSG)

The donors. And a negligible % of their voters.

But that is "conservatism" which has maybe 10% support among voters nationally.

Posted by: Thesokorus at July 27, 2023 04:03 PM (xjbf5)

385 Increase the earnings cap for SS from a buck 60 per year.

—

It increases every year. It was $80k not long ago.

And with a cap comes a benefits cap. Why yiu want is for SS to be a welfare program where there is no cap on taxes, but also keep the tax on benefits.

Posted by: Montec at July 27, 2023 04:04 PM (Rudgo)

386 Currency is White Supremacy!

No money, no inflation.

Posted by: Axeman at July 27, 2023 04:04 PM (krQz2)

387 I just get tired of the idea that the GOP should be running on cutting entitlements. Who's demanding that they do? Not their voters.
Posted by: TheJamesMadison

Many of the people proposing this ignore the possibility that their ox might be gored. Generally the ONLY way for a cut like social security for large voting block can occur is if everyone else shares the pain including the I'm All Right Jack folks.

Marginal tax rates go up for those that saved for their own retirement with gimmes like Roth and 403 tax shields pierced, fed retirees take a hit, army, navy, etc. defense spending vastly scaled back on pay, benefits, etc. back to something like pre 1940 levels. Death taxes go up, all sorts of user fees on federal services, and so on.

Massive twenty year clawbacks if someone strips moms and pops of assets before nursing home care to put them on Medicaid or the elimination of 'gifts' without income tax being paid Virtually all federal contractors being force to take massive haircuts, and so on. And investors in the bond debt might also be forced to take a write down.

Repeat ad nauseum. Most people have really no idea what austerity actually means to them.

Posted by: whig at July 27, 2023 04:04 PM (9hLLz)

388 That video of Trump advisor Jason Miller rocking a N95 mask with respiration valve during the 2020 Jan 6 committee VIDEO interview is just sad and pathetic.

Posted by: BeautifulHillaryClinton at July 27, 2023 04:04 PM (MFZ8i)

389 But what of The Lockbox?
Posted by: G'rump928(c) at July 27, 2023 04:02 PM (aD39U)

It's in Joe's garage

Posted by: Doof at July 27, 2023 04:04 PM (StUJj)

390 374 US consumers are used to using credit cards, and it's hard to see how that translates to 'something else' that the merchants will take.
Posted by: Methos at July 27, 2023 03:59 PM (kOpft)

Bullets is what they'll take. As in "lookit how many bullets I got here, now give me what I want and I won't be using them on yew".

Posted by: Tom Servo at July 27, 2023 04:04 PM (i9ffA)

391 What they tried to say is the population using entitlements would drop as the boomer generation died off. But in reality what they did is accelerate the decline by handing out benefits to everyone including illegal immigrants, and now they're making it worse with the current border invasion. It's not sustainable and especially in Blue States is going to lead to fiscal collapse.

Posted by: Furbinator at July 27, 2023 04:04 PM (Vv0FN)

392 His point doesn't contradict yours, and RedTurban at 264 just pointed out what this all really means: The problem with so-called "entitlements" is that they CANNOT be cut, not by any party, not by any politician. Too many people depend on them and will go ballistic if someone tries to stop them - so they will go on until the weight of them causes our entire financial, social, and governmental system to dramatically crash and burn. It's inevitable now, no one can stop it, and only the exact timing remains in doubt.
Posted by: Tom Servo at July 27, 2023 04:00 PM (i9ffA)
_______________

The only conceivable solution would be to freeze them at the current level for a few decades, and let inflation nibble down the actual value of the payments.

Yeah, I'm taking serious bong hits right now.

Posted by: Deplorable Jay Guevara at July 27, 2023 04:04 PM (YqDXo)

393 This. It drives me wild when idiots bleat the Social Security isn't enough to live on.

IT WAS NEVER SUPPOSED TO BE, YOU NITWIT! IT WAS SUPPOSED TO BE A SWEETENER TO TOP UP YOUR SAVINGS, WHICH IN YOUR CASE ARE OBVIOUSLY NON-EXISTENT!
Posted by: Deplorable Jay Guevara at July 27, 2023 04:01 PM

It drives me wild when conservatives say SS was only supposed to be supplemental retirement income.

WE'RE FUCKING COMMIES THAT THINK THE GOVERNMENT SHOULD PROVIDE YOU EVERYTHING, NITWIT! SS WAS JUST A PALATABLE FOOT IN THE DOOR THAT WOULD EVER EXPAND, BUT NEVER CONTRACT!

Posted by: FDR subversive Commie at July 27, 2023 04:05 PM (JCZqz)

394 The fed actually has started doing this. It actually has caused a very nasty liquidity issue on a global basis.
And by the way - I never consider monetary policy to drive inflation. Economic productivity always is the driver, monetary policy is just the enabler.
Posted by: Black JEM at July 27, 2023 03:51 PM (UVyKP)

It is mostly the other way around. The FED has been pushing inflation for 100 years, making money off the cantillon effect.
Money in our system is made by the banks making loans. Instead of you digging gold out of the ground, you take on a loan and pay it back, thus making it good. If you go bankrupt it is written off the books. Instead of trading gold ore for dollars you are promising to pay it back.
The FED is promising to moderate inflation and keep enough extra money in the system via loans to keep things going, but that makes inflation keep rising.
When money is easy to get, and there is extra printing, businesses can get easy loans and can make lots of stuff without wondering who really needs it, this is the malinvestment the Austrians talk about.
In the end the easy money causes business cycles of economic collapse, not the manufacturing

Posted by: Kindltot at July 27, 2023 04:05 PM (xhaym)

395 1 2 3 Lock Box

Posted by: Pug Mahon, Lifelong Metal-head at July 27, 2023 04:05 PM (xPJvm)

396 Doesn't help that most Americans don't want to work anymore and would rather have leftist gifts coming in instead.

I retire in 16 months and about a week later I'll get another job, because I'm not a slug.

Posted by: Wyatt Earp at July 27, 2023 04:05 PM (d2bW3)

397 I refuse to believe any conspiracy theory until Biden denies it. That confirms its truth 100% in my book.
Posted by: Deplorable Jay Guevara at July 27, 2023 03:55 PM (YqDXo)

Why do you think he goes around yelling "don't jump" all the time? He's counting on that. And I gotta admit, I'm tempted.

Posted by: clutch cargo - processed in a facility that may contain lead at July 27, 2023 04:05 PM (zB/T/)

398 But what of The Lockbox?
Posted by: G'rump928(c) at July 27, 2023 04:02 PM (aD39U)
---
DC has stolen the lock. Now it's just a box.

Posted by: Axeman at July 27, 2023 04:05 PM (krQz2)

399 social security payments are rounded towards the middle. a guy who always made low wages would get more than what he paid for and a guy in the upper class would get less than he paid for. anyway, the whole trust fund is just gov't bonds, that is, what the gov't collected and didn't use to pay out benefits was borrowed by the gov't. one reason clinton c 1998 was supposedly running a balanced budget was because they decided to include so sec as a regular part of the budget.

Posted by: gnats local 678 at July 27, 2023 04:05 PM (B1FKF)

400 Well payment systems being used for crypto in third world countries show some promise. Recent changes in the financial sector make switching to other currencies easily seem a lot more plausible than they were in the past.
Posted by: Red Turban Someguy - The Republic is already dead! at July 27, 2023 04:01 PM (eYoxG)

It's good only as long as the elites allow us access to the internet.

Posted by: Dr. Pork Chops & Bacons at July 27, 2023 04:05 PM (BdMk6)

401 o summarize some Lefty politician or apologist's defense of SS, it can't be a Ponzi scheme, because those are illegal, and Congress passed a law creating SS.

This was said earnestly, as if it were an absolute, slam-dunk, irrefutable defense.
Posted by: Moron Analyst at July 27, 2023 04:02 PM (JCZqz

It’s not that it’s legal but that you know exactly what it is makes it not a Ponzi scheme.

Posted by: polynikes at July 27, 2023 04:05 PM (MNhXM)

402 383 Posted by: Tom Servo at July 27, 2023 04:00 PM (i9ffA)

His point was you , an aos commenter, is not willing any austerity or reform of SS.

Is that true for you?
Posted by: polynikes at July 27, 2023 04:03 PM (MNhXM)

The people who would accept austerity mostly view themselves as having no prospect of receiving meaningful payments. I think only JackStraw has come out as an exception on this thread so far.

Posted by: Red Turban Someguy - The Republic is already dead! at July 27, 2023 04:05 PM (eYoxG)

403 398 But what of The Lockbox?
Posted by: G'rump928(c) at July 27, 2023 04:02 PM (aD39U)
---
DC has stolen the lock. Now it's just a box.
Posted by: Axeman at July 27, 2023 04:05 PM (krQz2)

=======

They left the box? That doesn't sound like DC.

Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 04:06 PM (LvTSG)

404 re 398: that's where hunter hides his stash.

Posted by: gnats local 678 at July 27, 2023 04:06 PM (B1FKF)

405 The Sundowner administration has broken records for paying staff
The Eff Bee Eye pays out tens of millions to informants
Read the Monkey Pox Czar makes $230G
Most Federal buildings are %75 empty

Posted by: Skip at July 27, 2023 04:06 PM (xhxe8)

406 His point was you , an aos commenter, is not willing any austerity or reform of SS.

Is that true for you?
Posted by: polynikes at July 27, 2023 04:03 PM (MNhXM)

I want to rape the system for all I can get and then laugh at all the Gen-Xers when it crashes.

Posted by: Tom Servo at July 27, 2023 04:06 PM (i9ffA)

407 You can have a shrinking economy alongside full employment if the labor force is declining. Which is the global trend for most countries.
Posted by: Red Turban Someguy - The Republic is already dead! at July 27, 2023 04:02 PM (eYoxG)

The economy is shrinking due to a shortage of USDs globally. A massive shortage. Enough things aren't being made to buy. And that's why prices are going up. Along with fuckery like food. And energy prices. But the biggest issue is USDs are incredibly scarce on the ground. And that despite all the "printing" which is just gifts to Int'l Finance.

Posted by: Thesokorus at July 27, 2023 04:06 PM (xjbf5)

408 The problem is government spending. Being the largest employer in the world and $32 trillion in debt, the only solution is to cut the size of the US government.
1. Cut the size of government in half
2. massive unemployment of useless people
3. Chaos

We are so screwed.

Posted by: wth at July 27, 2023 04:06 PM (v0R5T)

409 he fed actually has started doing this. It actually has caused a very nasty liquidity issue on a global basis.
---
Wow! I thought it was just me that had a liquidity issue!

Posted by: Jerry Nadler at July 27, 2023 04:07 PM (krQz2)

410 383 Posted by: Tom Servo at July 27, 2023 04:00 PM (i9ffA)

His point was you , an aos commenter, is not willing any austerity or reform of SS.

Is that true for you?
Posted by: polynikes at July 27, 2023 04:03 PM (MNhXM)

=======

My point is that a MAJORITY of AOS commenters won't agree to it. And that's definitely true.

If we can't get a majority here, is there a majority in the wider electorate?

Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 04:07 PM (LvTSG)

411 Many of the people proposing this ignore the possibility that their ox might be gored. Generally the ONLY way for a cut like social security for large voting block can occur is if everyone else shares the pain including the I'm All Right Jack folks.

That's what we are doing now.
That's what inflation does.

Posted by: Inogame at July 27, 2023 04:07 PM (53oGX)

412 >>>This. It drives me wild when idiots bleat the Social Security isn't enough to live on.

Our original contract doesn't have us putting anything into SS. The previous cops did, but not ours.

Posted by: Wyatt Earp at July 27, 2023 04:07 PM (d2bW3)

413 363 Shhhh...the dirty little secret about social security is most folks were supposed to die before they collected anything.

The feds can't even do that right.
Posted by: Hairyback Guy at July 27, 2023 03:59 PM

We're working on it! Next variant will be a doozy, you'll see!

Posted by: Dr. Fauci and his Chinese Medical Collaborators at July 27, 2023 04:07 PM (JCZqz)

414 1 2 3 Lock Box
Posted by: Pug Mahon, Lifelong Metal-head at July 27, 2023 04:05 PM (xPJvm)

"Suckers walk, money talks
But it can't touch my three lock box"

Great tune!!

Posted by: Doof at July 27, 2023 04:07 PM (StUJj)

415 People need to understand SS tax is just that, a tax. It goes into the general fund. As does Medicare tax. There’s no defined, guaranteed benefit. The govt could one day say thanks for the cash now fuck off. Posted by: Montec at July 27, 2023 04:02 PM (Rudgo)

At some point it will be fully means-tested, but probably not for anyone currently receiving benefits. Even now it's de facto means-tested to a very small extent by being considered taxable income above a certain amount and by Medicare having variable payments. That sort of workaround is just going to be expanded so that the wealthier you are, the less the benefit is worth.

Posted by: Caesar North of the Rubicon at July 27, 2023 04:07 PM (7B5FA)

416 Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 04:07 PM (LvTSG)

How are those belt loops looking? All together now?

Posted by: thathalfrican - The One at July 27, 2023 04:08 PM (h54nQ)

417 416 Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 04:07 PM (LvTSG)

How are those belt loops looking? All together now?
Posted by: thathalfrican - The One at July 27, 2023 04:08 PM (h54nQ)

========

I haven't had a meeting with Jeb in years. I do pray that his belt loop game has improved. It was a rookie mistake on his part.

Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 04:08 PM (LvTSG)

418 Add a 0 to every dollar bill and you don't think prices will increase? You have to actually make goods, quantity of currency by comparison is easy to adjust.
Posted by: Red Turban Someguy - The Republic is already dead! at July 27, 2023 03:52 PM (eYoxG)
==
Biden actually on monetary did exactly what Trump did. And Trump had no inflation, but Biden did. Why?

Biden killed productivity.

Posted by: Black JEM at July 27, 2023 04:08 PM (UVyKP)

419 Yeah I'm a little sick of hearing the solution is to cut benefits for people who paid in or who gift their assets to their children or more death taxes. EATADIK. There is enough fat in people who never paid into these programs or people who hide their assets to get federal benefits. You start going hard after all the billions being virtually embezzled by people like that, and we'll talk.

Posted by: Furbinator at July 27, 2023 04:08 PM (Vv0FN)

420 As long as we are spending money on NPR etc, however small that amount is in the big picture, cutting SS and/or pensions is going to be a hard sell. Stop funding the Left with all this superfluous stuff and then come to me with SS cuts.

Posted by: G'rump928(c) at July 27, 2023 04:08 PM (aD39U)

421 The donors. And a negligible % of their voters.

But that is "conservatism" which has maybe 10% support among voters nationally.
Posted by: Thesokorus
--------
Those donors are unwittingly building the scaffold for them and their Dem counterparts.

Part of the viciousness of the French Revolution was that the state was broke from fighting endless wars and not taxing the aristos and church for their share of that while impoverishing all other classes.

The viciousness of the Russian Revolution was that Russia essentially and insanely went to war over Serbia and Bosnia, killed a bunch of plebes due to feckless and useless commanders, impoverished the state, and put the burden on the plebes instead of the aristos.

Posted by: whig at July 27, 2023 04:09 PM (9hLLz)

422 Shhhh...the dirty little secret about social security is most folks were supposed to die before they collected anything. The feds can't even do that right. Posted by: Hairyback Guy at July 27, 2023 03:59 PM We're working on it! Next variant will be a doozy, you'll see! Posted by: Dr. Fauci and his Chinese Medical Collaborators at July 27, 2023 04:07 PM (JCZqz)

The corollary is that smoking greatly enhanced this aspect of the program. If people still smoked like they did in 1938 there would be no solvency problem at all.

Posted by: Caesar North of the Rubicon at July 27, 2023 04:09 PM (7B5FA)

423 395 1 2 3 Lock Box

Posted by: Pug Mahon, Lifelong Metal-head at July 27, 2023 04:05 PM (xPJvm)

--------

Unfortunately, Al Gore chose John Pedodesta to set the password -- which he set to "password" and it's all been raided by hackers on Al Gore's interwebs creation.

Posted by: ShainS at July 27, 2023 04:09 PM (8wwub)

424 Ya know what was "misinformation" in the 40s?

That Social Security would become a Ponzi scheme.

Posted by: Axeman at July 27, 2023 04:10 PM (krQz2)

425 "Record high interest rates"

That statement alone eviscerates any credibility the writer had.

Posted by: SMFH at July 27, 2023 04:10 PM (vGZLX)

426 when so sec got through congress and was signed into low by fdr, life expectancy was about 67.

Posted by: gnats local 678 at July 27, 2023 04:10 PM (B1FKF)

427 My point is that a MAJORITY of AOS commenters won't agree to it. And that's definitely true.

If we can't get a majority here, is there a majority in the wider electorate?
Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 04:07 PM (LvTSG)

I strongly agree that everyone under the age of 60 should immediately see dramatic cutbacks in their projected benefits. Well of course I'm past that mile marker.

Posted by: Tom Servo at July 27, 2023 04:10 PM (i9ffA)

428 I want to rape the system for all I can get and then laugh at all the Gen-Xers when it crashes.
Posted by: Tom Servo at July 27, 2023 04:06 PM (i9ffA)

I apologize to TJM.

You were right.

Posted by: polynikes at July 27, 2023 04:10 PM (MNhXM)

429 That is from the ministerial exception where the state cannot tax religious faiths that was built into the Social Security Act. Local and state governments can opt in or out as they choose for employees.
Posted by: whig

Thanks for filling in the gaps, Whig. It was so long ago I couldn't remember details.

Posted by: Prime Sister at July 27, 2023 04:10 PM (tQL7r)

430 My Dad taught me that SS is sufficient IF you own your house without a mortgage.

That is true for me, but only because I was a high-income worker and my SS is higher than average.

Still, you have to have some savings too, for a rainy day, or when you need a new roof-A/C-car, or in my case plumbing.

Posted by: Chatterbox Mouse at July 27, 2023 04:11 PM (jgJfd)

431 If I may restate TJM, there is no constituency for entitlement reform (ie people who will vote for it) so holding the Republican party to that tenet is hobbling.

Posted by: blaster at July 27, 2023 04:11 PM (Jk9SN)

432 A rollercoaster trajectory over the next quarters before inflation likely settles near 3%
===
That's today's optimistic happy talk. . . In reality it will go well past 3%.

Posted by: "Unexpectedly" at July 27, 2023 04:11 PM (sh1GZ)

433 269 I don't care. Where the hell are those damn space aliens to annihilate us. I'm losing my patience.
Posted by: BeckoningChasm at July 27, 2023 03:48 PM (p+1gI)

And SMOD has abandoned us...

Posted by: Question Authority bumper sticker at July 27, 2023 04:11 PM (Rbu5d)

434 Shhhh...the dirty little secret about social security is most folks were supposed to die before they collected anything.

The feds can't even do that right.
Posted by: Hairyback Guy at July 27, 2023 03:59 PM
++++
Social Security starts at age 65.
The US life expectancy at birth when the Act was passed in 1935 was 60.7 years.

Social Security full retirement age is now 66.3 years.
US life expectancy at birth is about 78.8.

The "full retirement" age went up by 3.5%
Life expectancy went up by 29.8%

Posted by: Joe Mannix (Not a cop!) at July 27, 2023 04:11 PM (t0OGg)

435 But what of The Lockbox?
Posted by: G'rump928(c) at July 27, 2023 04:02 PM (aD39U)
.......

Julio is living in it under a bridge in Downtown Los Angeles.

Posted by: wth at July 27, 2023 04:11 PM (v0R5T)

436 The corollary is that smoking greatly enhanced this aspect of the program. If people still smoked like they did in 1938 there would be no solvency problem at all.

Posted by: Caesar North of the Rubicon at July 27, 2023 04:09 PM (7B5FA)

Isn't The Vaccine supposed to take up the slack?

Posted by: Joey Sausage at July 27, 2023 04:11 PM (or2+y)

437 363 Shhhh...the dirty little secret about social security is most folks were supposed to die before they collected anything.
____________

Yep. Bismarck, in an effort to co-opt the socialists, set the retirement age at 65. At that time few people lived to 65.

Posted by: Deplorable Jay Guevara at July 27, 2023 04:12 PM (YqDXo)

438 It is hilarious that one of the Top Stories on Apple News is something about Women Soccer.

Posted by: I am the Shadout Mapes, the Housekeeper at July 27, 2023 04:12 PM (PiwSw)

439 431 If I may restate TJM, there is no constituency for entitlement reform (ie people who will vote for it) so holding the Republican party to that tenet is hobbling.

Posted by: blaster at July 27, 2023 04:11 PM (Jk9SN)

=======

"Constituency"...that's the word I kept grasping for.

But yeah. Since there is no constituency for it, there will never be a solution for it politically. In fact, there is a much broader constituency for keeping the money train moving.

Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 04:12 PM (LvTSG)

440 418 Add a 0 to every dollar bill and you don't think prices will increase? You have to actually make goods, quantity of currency by comparison is easy to adjust.
Posted by: Red Turban Someguy - The Republic is already dead! at July 27, 2023 03:52 PM (eYoxG)
==
Biden actually on monetary did exactly what Trump did. And Trump had no inflation, but Biden did. Why?

Biden killed productivity.
Posted by: Black JEM at July 27, 2023 04:08 PM (UVyKP)

Inflation doesn't occur in a very proportional fashion. Countries have tried the printing tons of money thing enough to see it'll cause prices to increase.

Part of that is spending rate though, which is psychological/expectations driven. Monetary pressure is M*V, Money Supply * Velocity(dollar turnover). So MV:goods gets you your prices.

Posted by: Red Turban Someguy - The Republic is already dead! at July 27, 2023 04:12 PM (eYoxG)

441 My son once said that his generation will simply repudiate the National Debt.

LOL.

Posted by: Chatterbox Mouse at July 27, 2023 04:12 PM (jgJfd)

442 I strongly agree that everyone under the age of 60 should immediately see dramatic cutbacks in their projected benefits. Well of course I'm past that mile marker.
Posted by: Tom Servo at July 27, 2023 04:10 PM (i9ffA)

Yeah! I wholeheartedly endorse this! With one tiny change - age of 55.

Posted by: blaster at July 27, 2023 04:12 PM (Jk9SN)

443 I am also tired of going to the grocery store and watching an older person who served out country struggle at checkout while some illegal whips out the EBT cars and buys whatever they want on his taxes. Right after they've come from their free healthcare visit and three newly minted Pedro's they had to try and anchor themselves in the country.

Posted by: Furbinator at July 27, 2023 04:12 PM (Vv0FN)

444
"Though inflation has eased significantly from its 41-year-high last summer"

Blackrock doesn't shop at the same places we do...
Inflation has *NOT* eased... FJB and Blackrock.

Posted by: AZ deplorable moron at July 27, 2023 04:12 PM (JWsMn)

445 If I may restate TJM, there is no constituency for entitlement reform (ie people who will vote for it) so holding the Republican party to that tenet is hobbling.

Posted by: blaster at July 27, 2023 04:11 PM (Jk9SN)

We were closer than we’ve ever been in 2001. And then 9/11 happened.

Posted by: polynikes at July 27, 2023 04:12 PM (MNhXM)

446 Biden killed productivity.
Posted by: Black JEM

Yes, literally

Posted by: Prime Sister at July 27, 2023 04:12 PM (tQL7r)

447 271...You are not putting slices of tomato on your pizza.
Posted by: Aetius451AD Work Laptop at July 27, 2023 03:48 PM (zZu0s)

A pizza place near us does, and it's good.

Posted by: Question Authority bumper sticker at July 27, 2023 04:13 PM (Rbu5d)

448 "Suckers walk, money talks
But it can't touch my three lock box"

Great tune!!
Posted by: Doof at July 27, 2023 04:07 PM (StUJj)

I literally have not heard that song in two decades, but that I remember it so clearly speaks of its quality.

Posted by: Pug Mahon, Lifelong Metal-head at July 27, 2023 04:13 PM (xPJvm)

449 The economy is shrinking due to a shortage of USDs globally. A massive shortage. Enough things aren't being made to buy. And that's why prices are going up. Along with fuckery like food. And energy prices. But the biggest issue is USDs are incredibly scarce on the ground. And that despite all the "printing" which is just gifts to Int'l Finance. Posted by: Thesokorus at July 27, 2023 04:06 PM (xjbf5)

The Europeans figured that out in the 70's by inventing Eurodollars to buy oil from the Middle East that was priced in dollars, which led to the Eurobond market priced in dollars. It's just figures on a ledger.

Posted by: Caesar North of the Rubicon at July 27, 2023 04:13 PM (7B5FA)

450 It is mostly the other way around. The FED has been pushing inflation for 100 years, making money off the cantillon effect.
Money in our system is made by the banks making loans. Instead of you digging gold out of the ground, you take on a loan and pay it back, thus making it good. If you go bankrupt it is written off the books. Instead of trading gold ore for dollars you are promising to pay it back.
The FED is promising to moderate inflation and keep enough extra money in the system via loans to keep things going, but that makes inflation keep rising.
When money is easy to get, and there is extra printing, businesses can get easy loans and can make lots of stuff without wondering who really needs it, this is the malinvestment the Austrians talk about.
In the end the easy money causes business cycles of economic collapse, not the manufacturing
Posted by: Kindltot at July 27, 2023 04:05 PM (xhaym)
==
I would suggest you look at what the fed has been doing in just the last few years. Powell clearly got pissed off at Biden, thinks Yellen is a complete idiot. Yes, you do not unwind those positions quickly, because we've been realistically printing easy money for 15 or so years.

Posted by: Black JEM at July 27, 2023 04:13 PM (UVyKP)

451 I would like to get at least what I paid in to SS back. Beyond that I don't care. Heck I'll consider it a bonus if I ever get any SS.

Posted by: fd at July 27, 2023 04:13 PM (iayUP)

452 when was the last flame war

Posted by: DB - shadowy figure from a past episode at July 27, 2023 04:13 PM (geLO8)

453 When SS was created, the life expectancy was 65.

LOL

Lots of laughing today.

Posted by: Chatterbox Mouse at July 27, 2023 04:13 PM (jgJfd)

454 You are not putting slices of tomato on your pizza.
Posted by: Aetius451AD Work Laptop at July 27, 2023 03:48 PM (zZu0s)

A pizza place near us does, and it's good.
Posted by: Question Authority bumper sticker at July 27, 2023 04:13 PM (Rbu5d)
---
Absolutely.

Posted by: Axeman at July 27, 2023 04:14 PM (krQz2)

455 >>>Yes, literally
Posted by: Prime Sister

With help from Fauci and his covid fears.

Posted by: Wyatt Earp at July 27, 2023 04:14 PM (d2bW3)

456 I want to rape the system for all I can get and then laugh at all the Gen-Xers when it crashes.

Gen Xers have always lived knowing that SocSec was a Ponzi scheme and the demographics meant it was gonna explode more than Hiroshima at some point. We're going to have a much better retirement than the older folks who actually believed the "you pay in and it's set aside for you" lie.

Posted by: Ian S. at July 27, 2023 04:14 PM (ZGrMX)

457 Buddy, could you spare $350.00 for a cup of coffee?

Posted by: Eromero at July 27, 2023 04:15 PM (z3WCn)

458 We were closer than we’ve ever been in 2001. And then 9/11 happened.
Posted by: polynikes at July 27, 2023 04:12 PM (MNhXM)

Hmmm. There's a conspiracy theory in there somewhere...

Posted by: blaster at July 27, 2023 04:15 PM (Jk9SN)

459 Still, you have to have some savings too, for a rainy day, or when you need a new roof-A/C-car, or in my case plumbing.

Posted by: Chatterbox Mouse at July 27, 2023 04:11 PM (jgJfd)
______________

Yep. Luck comes in two flavors. Which is news to the snakes in Sacramento. They were high-fiving each other over the budget surplus a year or two ago, and now are crying in their chablis because now there's a huge budget deficit. The notion of putting some money aside for a rainy day was and is still terra incognito for them.

Posted by: Deplorable Jay Guevara at July 27, 2023 04:15 PM (YqDXo)

460 BTW your 401k? You are required to take money out when/if you reach 70, so the feds can tax the shit out of your capital gains as regular income.

Posted by: Regular joe. Not just mad, Samuel L Jackson mad at July 27, 2023 04:15 PM (nnp+f)

461 Teach your sons and daughters to love Jesus Christ. Then teach them to shoot, hunt, forage and navigate.

That is all.

Posted by: Marcus T at July 27, 2023 04:15 PM (YxvtA)

462 >>I know the 29 year olds remember 15-16% years mortgage rates.

neighbor next door to my fist house had a 1979 loan at 14%, in 1986 my rate was 8% and we paid it off in 17 years

He did a reverse mortgage before he died 6 years ago

and he was an accountant

Posted by: DanMan at July 27, 2023 04:15 PM (DB6tu)

463 452 when was the last flame war
Posted by: DB - shadowy figure from a past episode at July 27, 2023 04:13 PM (geLO

SHUT! IT!

You jackwagon.

Posted by: blaster at July 27, 2023 04:15 PM (Jk9SN)

464 445 If I may restate TJM, there is no constituency for entitlement reform (ie people who will vote for it) so holding the Republican party to that tenet is hobbling.

Posted by: blaster at July 27, 2023 04:11 PM (Jk9SN)

We were closer than we’ve ever been in 2001. And then 9/11 happened.
Posted by: polynikes at July 27, 2023 04:12 PM (MNhXM)

It was arguably fixable then. It's not now. That's why I and TJM and others have written off that part of the platform as a lost cause.

Posted by: Red Turban Someguy - The Republic is already dead! at July 27, 2023 04:15 PM (eYoxG)

465 Many of the folks here do not really understand the logic both political and legal to what they are saying.

Ending Social Security is certainly within Congressional powers but so is eliminate all the various tax shelters that many of the people here have saved money with. Such as Roth plans, 401k and 403b plans, changing marginal rates, changing cost basis for inheritance, and I can go on and on. All sorts of state, local, and federal benefits to retirees are similarly on the table. Denial of non-profit status for any organization with all income taxable (which would include religious organizations btw), and so on.

On taxes, spending, and borrowing, Congress has plenary power and none of this by prior Supreme Court decisions indicate you have a property interest that cannot be abrogated by a change in legislation by a new Congress.

Posted by: whig at July 27, 2023 04:16 PM (9hLLz)

466 "Grandma" pizza: topped with sliced fresh tomato and fresh mozzarella. Must have.

Posted by: San Franpsycho at July 27, 2023 04:16 PM (JvZF+)

467 I love sipping real champagne and snacking on caviar before I go to my favorite fusion cuisine restaurant. Living on social security makes life wonderful.

Posted by: Dr. Pork Chops & Bacons at July 27, 2023 04:16 PM (BdMk6)

468 Shhhh...the dirty little secret about social security is most folks were supposed to die before they collected anything.

Posted by: Hairyback Guy

Too true. And it actually happens that way more than you'd think. While working there, I saw records of many, many men who retired....and then keeled over within the first six months.

Posted by: Prime Sister at July 27, 2023 04:17 PM (tQL7r)

469 No Baby, I've got a prayer breakfast today,
I don't got time for that inflation...

Posted by: Mister Ghost at July 27, 2023 04:17 PM (TGPs7)

470 Inflation doesn't occur in a very proportional fashion. Countries have tried the printing tons of money thing enough to see it'll cause prices to increase.

Part of that is spending rate though, which is psychological/expectations driven. Monetary pressure is M*V, Money Supply * Velocity(dollar turnover). So MV:goods gets you your prices.
Posted by: Red Turban Someguy - The Republic is already dead! at July 27, 2023 04:12 PM (eYoxG)
==
You realize that we've underprinted currency and choked off economic growth in the past.

Productivity is the foundation of all of it. Printing money (or not printing money) absent recognizing productivity is a fools errand.

Posted by: Black JEM at July 27, 2023 04:17 PM (UVyKP)

471 464 It was arguably fixable then. It's not now. That's why I and TJM and others have written off that part of the platform as a lost cause.
Posted by: Red Turban Someguy - The Republic is already dead! at July 27, 2023 04:15 PM (eYoxG)

=======

I fully think SS could be fixed, but the fixes would be unpopular. Minimum retirement age to 75? That would do a lot, but holy shit would it cause a shitstorm.

Instead, we will hobble along as SS gets worse and worse, the ugly stepsister to our real problem: Medicare and Medicaid.

Now, let's talk about cutting Medicare benefits.

Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 04:17 PM (LvTSG)

472 "This is my position as well but you still have to quit printing money. Raising rates without curtailing spending is a recipe for disaster." Posted by: polynikes

Many think the plan is to destroy the King Dollar, at least raise other competitors ... BUT perhaps to bring an emergency and usher in their Fed Crypto where they track out every purchase, cut off our ability to buy if we "misbehave" (vote Trump, don't get the fake vax, don't praise trannies and pedo's, deny global warming ...)

Posted by: illiniwek at July 27, 2023 04:17 PM (Cus5s)

473 465 Many of the folks here do not really understand the logic both political and legal to what they are saying.

Ending Social Security is certainly within Congressional powers but so is eliminate all the various tax shelters that many of the people here have saved money with. Such as Roth plans, 401k and 403b plans, changing marginal rates, changing cost basis for inheritance, and I can go on and on. All sorts of state, local, and federal benefits to retirees are similarly on the table. Denial of non-profit status for any organization with all income taxable (which would include religious organizations btw), and so on.

On taxes, spending, and borrowing, Congress has plenary power and none of this by prior Supreme Court decisions indicate you have a property interest that cannot be abrogated by a change in legislation by a new Congress.
Posted by: whig at July 27, 2023 04:16 PM (9hLLz)

Is the tl;dr here that ridiculous cash grabs by Congress are likely in the ensuing chaos? I'm inclined to agree. That won't stop things from crashing though.

Posted by: Red Turban Someguy - The Republic is already dead! at July 27, 2023 04:18 PM (eYoxG)

474 We're going to have a much better retirement than the older folks who actually believed the "you pay in and it's set aside for you" lie.
Posted by: Ian S. at July 27, 2023 04:14 PM (ZGrMX)
______________

Anyone who believed that government would let all that lovely money just sit there unmolested is an idiot.

California has an interesting angle on this. The state government looks at CalPers (state pension system), sees all that lovely money going to waste, and they get the googly-booglies for it. So they claim the pension fund is over-funded, glom onto a lot of the cash. Now all CalPers has to do is hit 50% annual returns to stay solvent. Easy.

Posted by: Deplorable Jay Guevara at July 27, 2023 04:18 PM (YqDXo)

475 Shhhh...the dirty little secret about social security is most folks were supposed to die before they collected anything.

That's the one thing it has in common with real insurance.

Posted by: Ian S. at July 27, 2023 04:18 PM (ZGrMX)

476 They better start laying off useless goverment workers before they touch Social Security or things are going to get ugly.

Posted by: wth at July 27, 2023 04:19 PM (v0R5T)

477 While working there, I saw records of many, many men who retired....and then keeled over within the first six months.
Posted by: Prime Sister at July 27, 2023 04:17 PM (tQL7r)
---
Some men are like sharks. They stop swimming, they die.

Posted by: Axeman at July 27, 2023 04:19 PM (krQz2)

478 Ending Social Security is certainly within Congressional powers but so is eliminate all the various tax shelters that many of the people here have saved money with. Such as Roth plans, 401k and 403b plans, changing marginal rates, changing cost basis for inheritance, and I can go on and on. All sorts of state, local, and federal benefits to retirees are similarly on the table. Denial of non-profit status for any organization with all income taxable (which would include religious organizations btw), and so on.
_________________

Also eliminate welfare, EBT, SNAP, and all that crap too.

Posted by: Deplorable Jay Guevara at July 27, 2023 04:19 PM (YqDXo)

479 California has an interesting angle on this. The state government looks at CalPers (state pension system), sees all that lovely money going to waste, and they get the googly-booglies for it. So they claim the pension fund is over-funded, glom onto a lot of the cash. Now all CalPers has to do is hit 50% annual returns to stay solvent. Easy.
Posted by: Deplorable Jay Guevara at July 27, 2023 04:18 PM (YqDXo)
++++
It's now actually possible that CalPERS will detonate the state's fiscal position during the next major market downturn. CalPERS will start running out of money and the state will start running out of revenues because the rich folks who live on stock market returns who make up a giant chunk of the budget will stop seeing those returns come in.

Posted by: Joe Mannix (Not a cop!) at July 27, 2023 04:20 PM (t0OGg)

480 but so is eliminate all the various tax shelters that many of the people here have saved money with

Oh, I'm sure a deparate federal government making a trillion or more in interest payments on debt won't go after those just because that's where the money is.

Posted by: people who don't know what time it is at July 27, 2023 04:20 PM (ppBhU)

481 Now, let's talk about cutting Medicare benefits.
Posted by: TheJamesMadison, contemplating utopia with Peter Weir at July 27, 2023 04:17 PM (LvTSG)
===

*Aetna, UHC, and Prudential have entered the chat*

Posted by: San Franpsycho at July 27, 2023 04:20 PM (JvZF+)

482 So, it won't return to normal until 2025? Will economic policy suddenly change for some reason in the year after the presidential election? Interesting....

Posted by: GWB at July 27, 2023 04:21 PM (7dRmv)

483 324...Dunno what that'll end up being in the US.
Posted by: Red Turban Someguy - The Republic is already dead! at July 27, 2023 03:53 PM (eYoxG)

Food.
Alcohol.
Ammo.
Basic medicines.
Iow, barter until the strongman takes over and imposes a currency.

Posted by: Question Authority bumper sticker at July 27, 2023 04:21 PM (Rbu5d)

484 >>> Fruit does not belong on pizza.
So let it be written, so let it be done.
Posted by: Aetius451AD Work Laptop at July 27, 2023 03:37 PM (zZu0s)

This will freak you out then, but a really delicious artisan hole in the wall pizza place I love does fruit on pizza. Well.

One pie is fresh mozzarella, huckleberries, prosciutto and thyme finished with chipotle peach syrup and asiago.

Another pie is fresh mozzarella, huckleberry chicken, raw slide ridge honey, huckleberries and thyme, finished with asiago.

Delectable.

Posted by: LizLem at July 27, 2023 04:21 PM (6s5zw)

485 Also eliminate welfare, EBT, SNAP, and all that crap too.

Every store has a banner up in front "We accept EBT/SNAP!". The moment that was no longer shameful to advertise was the moment the US ended.

Posted by: Ian S. at July 27, 2023 04:21 PM (ZGrMX)

486 also a lot of people think we could get deflation, because rising rates well help cool the economy, but people become cautious or unable to afford more than rent of house payment.

No one buying (and US consumer has been the Big buyer for the world) means recession, lower prices ... even as government cranks out more infinite dollars ... (more government dependence, rich get richer off government largesse)

Posted by: illiniwek at July 27, 2023 04:21 PM (Cus5s)

487 They better start laying off useless goverment workers before they touch Social Security or things are going to get ugly.
Posted by: wth at July 27, 2023 04:19 PM (v0R5T)
_____________

First up: the Department of Education. Gone. The DHS. Gone. Then every diversity "coordinator." Gone. EEOC. Gone.

Posted by: Deplorable Jay Guevara at July 27, 2023 04:21 PM (YqDXo)

488 >>Gen Xers have always lived knowing that SocSec was a Ponzi scheme and the demographics meant it was gonna explode more than Hiroshima at some point. We're going to have a much better retirement than the older folks who actually believed the "you pay in and it's set aside for you" lie

If the Gen Xers I know are any indication I think you are way off. Some may, the vast majority most definitely will not.

Posted by: JackStraw at July 27, 2023 04:21 PM (ZLI7S)

489 I am stunned by this thread. On-topic with serious commentary.
Well done.

Posted by: DB - shadowy figure from a past episode at July 27, 2023 04:21 PM (geLO8)

490 You realize that we've underprinted currency and choked off economic growth in the past.

Productivity is the foundation of all of it. Printing money (or not printing money) absent recognizing productivity is a fools errand.
Posted by: Black JEM at July 27, 2023 04:17 PM (UVyKP)

Productivity is the economy. Currency is an overlay. Could be Won or Dollars. Big Numbers on the currency mean Big Prices on the goods. Money printing obviously has an impact on prices. To hold otherwise is to suggest the government could print and spend trillions or quadrillions with no price impact.

Production of goods also impacts prices.

MV:goods has three components, Money Supply, Velocity of Money, and Quantity of goods.

Posted by: Red Turban Someguy - The Republic is already dead! at July 27, 2023 04:21 PM (eYoxG)

491 Nood

Posted by: San Franpsycho at July 27, 2023 04:22 PM (JvZF+)

492 "Constituency"...that's the word I kept grasping for.

But yeah. Since there is no constituency for it, there will never be a solution for it politically. In fact, there is a much broader constituency for keeping the money train moving.
Posted by: TheJamesMadison
--------
I think a majority of the American public is a bit smarter than that but in return for cuts in Social Security will demand their pound of flesh across the board that the political and donor class will scream about--i.e. massive tax increases on the donor class, massive loss of being able to use govt spending for the political class.

Basically that would require something like 20-30 years of austerity, high unemployment, high interest rates, etc. If you replicated the German miracle policies of Konrad Adenauer after WWII who eliminated virtually all federal regulations on the economy and sound money, you might cut that to 15 years if you required all federal bondholders to take a haircut.

Posted by: whig at July 27, 2023 04:22 PM (9hLLz)

493 When you go into a store and want something, it's mean that they won't give it to you until you pay them a sum of money!

So asking for more money is even meaner. That's why it's white supremacy. Money is white supremacy.

Posted by: Axeman at July 27, 2023 04:22 PM (krQz2)

494 "Posted by: whig at July 27, 2023 04:16 PM (9hLLz)"

Article 1, Section 9, Clause 3. Properly read it does not just apply to criminal law. It would be outrageous and unusual given the current body of laws (which I know you know well) to go back and suddenly swipe people's 401's et al, given the premise was they would be tax deferred. I would believe any honest court would not allow that. It would be a punitive unconstitutional grab.

Posted by: Marcus T at July 27, 2023 04:22 PM (g1ha0)

495 484 >>> Fruit does not belong on pizza.
So let it be written, so let it be done.
Posted by: Aetius451AD Work Laptop at July 27, 2023 03:37 PM (zZu0s)

This will freak you out then, but a really delicious artisan hole in the wall pizza place I love does fruit on pizza. Well.

One pie is fresh mozzarella, huckleberries, prosciutto and thyme finished with chipotle peach syrup and asiago.

Another pie is fresh mozzarella, huckleberry chicken, raw slide ridge honey, huckleberries and thyme, finished with asiago.

Delectable.

Posted by: LizLem at July 27, 2023 04:21 PM (6s5zw)

Fruit salad on crust does not constitute a pizza.

Posted by: The Central Scrutinizer at July 27, 2023 04:22 PM (KbCG3)

496 Fruit does not belong on pizza.
So let it be written, so let it be done.

Back in the 90s when Pizza Hut had the lunch buffet and their food was still passable, the dessert pizzas were fantastic. They were basically pies on a pizza crust (which isn't that far from a pie crust to begin with).

Posted by: Ian S. at July 27, 2023 04:23 PM (ZGrMX)

497
"Record high interest rates"

That statement alone eviscerates any credibility the writer had.
Posted by: SMFH

And boiling oceans!

Posted by: Bertram Cabot, Jr. at July 27, 2023 04:23 PM (63Dwl)

498 It's now actually possible that CalPERS will detonate the state's fiscal position during the next major market downturn. CalPERS will start running out of money and the state will start running out of revenues because the rich folks who live on stock market returns who make up a giant chunk of the budget will stop seeing those returns come in.
Posted by: Joe Mannix (Not a cop!) at July 27, 2023 04:20 PM (t0OGg)
_______________

At which point California will stop making pension payments to those now living in other states, something that they've toyed with for years. That will be the canary in the coal mine.

Posted by: Deplorable Jay Guevara at July 27, 2023 04:24 PM (YqDXo)

499 474 We're going to have a much better retirement than the older folks who actually believed the "you pay in and it's set aside for you" lie.
Posted by: Ian S. at July 27, 2023 04:14 PM (ZGrMX)
______________

Anyone who believed that government would let all that lovely money just sit there unmolested is an idiot.

California has an interesting angle on this. The state government looks at CalPers (state pension system), sees all that lovely money going to waste, and they get the googly-booglies for it. So they claim the pension fund is over-funded, glom onto a lot of the cash. Now all CalPers has to do is hit 50% annual returns to stay solvent. Easy.
Posted by: Deplorable Jay Guevara at July 27, 2023 04:18 PM (YqDXo)

Local property is harder to yoink. Something to think about as the prospect of Congress raiding retirement accounts(like Cyprus raided bank accounts) becomes more likely.

Posted by: Red Turban Someguy - The Republic is already dead! at July 27, 2023 04:24 PM (eYoxG)

500 494 "Posted by: whig at July 27, 2023 04:16 PM (9hLLz)"

Article 1, Section 9, Clause 3. Properly read it does not just apply to criminal law. It would be outrageous and unusual given the current body of laws (which I know you know well) to go back and suddenly swipe people's 401's et al, given the premise was they would be tax deferred. I would believe any honest court would not allow that. It would be a punitive unconstitutional grab.
Posted by: Marcus T at July 27, 2023 04:22 PM (g1ha0)

And so a move portending immediate collapse. It may not happen at all as printing money is easier.

Posted by: Red Turban Someguy - The Republic is already dead! at July 27, 2023 04:25 PM (eYoxG)

501 Article 1, Section 9, Clause 3. Properly read it does not just apply to criminal law. It would be outrageous and unusual given the current body of laws (which I know you know well) to go back and suddenly swipe people's 401's et al, given the premise was they would be tax deferred. I would believe any honest court would not allow that. It would be a punitive unconstitutional grab.
Posted by: Marcus T at July 27, 2023 04:22 PM (g1ha0)
_____________

So you're saying it's inevitable?

Posted by: Deplorable Jay Guevara at July 27, 2023 04:25 PM (YqDXo)

502 Many think the plan is to destroy the King Dollar, at least raise other competitors ... BUT perhaps to bring an emergency and usher in their Fed Crypto where they track out every purchase, cut off our ability to buy if we "misbehave" (vote Trump, don't get the fake vax, don't praise trannies and pedo's, deny global warming ...)
Posted by: illiniwek

No power, no crypto. Essentially, you will go back to a barter economy as the whole system shuts down. Economy is kind of like a steel mill, hard to get started but a sudden stoppage is deadly to a steel mill and it is not easily restarted.

Posted by: whig at July 27, 2023 04:25 PM (9hLLz)

503 It was arguably fixable then. It's not now. That's why I and TJM and others have written off that part of the platform as a lost cause.
Posted by: Red Turban Someguy - The Republic is already dead! at July 27, 2023 04:15 PM (eYoxG)

That’s not what the debate was about. TJM was insulting aos 29 year old commenters because they dared to continue to receive SS. It was my position that almost every SS recipient here would welcome some reform or austerity ( in my case example I would have definitely recommended a minimal cola instead of an 8% increase. ( non-government working employees saw no where near an 8% raise if anything)

Anyway Tom Servo destroyed my point with his Let it Burn comment. I guess I had rose colored glasses on about aos.

Posted by: polynikes at July 27, 2023 04:25 PM (MNhXM)

504 US government debt service is about to exceed ONE TRILLION DOLLARS annually.

That's just stunning when you stop to think about it.

Posted by: Meade Lux Lewis, Domestic Terrorist at July 27, 2023 04:26 PM (sWM8x)

505 Local property is harder to yoink. Something to think about as the prospect of Congress raiding retirement accounts(like Cyprus raided bank accounts) becomes more likely.
Posted by: Red Turban Someguy - The Republic is already dead! at July 27, 2023 04:24 PM (eYoxG)
_______________

Which is why the Reds here are drawing a bead on Prop. 13 (limits property tax increases), something that they've hated since its inception.

Posted by: Deplorable Jay Guevara at July 27, 2023 04:26 PM (YqDXo)

506 It would be a punitive unconstitutional grab.
Posted by: Marcus T
----------
You would be wrong and for once you cannot blame modern progressives. See Calder v. Bull on the ex post facto where Scotus and every single court since then have held ex post facto only applies to criminal laws and btw, bills of attainder would only apply if you have specific names in your bill. Some interesting precedents on both of this during the Revolution, post Revolution, and post ratifying the current Constitution.

Posted by: whig at July 27, 2023 04:28 PM (9hLLz)

507 Here's another little stratagem used by California. They require a "deposit" on drink containers, etc., that you can get refunded when you recycle the container.

Next step: close all the recycling centers, and pocket the deposits.

You effed up, you trusted us!

Posted by: Deplorable Jay Guevara at July 27, 2023 04:32 PM (YqDXo)

508 Nood.

Posted by: Deplorable Jay Guevara at July 27, 2023 04:33 PM (YqDXo)

509 Golly! I hope this doesn't trigger a recession! Because we're totally not in one now. Even Jim Cramer says so.

Posted by: red speck at July 27, 2023 04:37 PM (0Id0S)

510 I'm okay with pineapple on pizza. I don't seek it but will eat it when it's offered.
So sue me.

Posted by: That Northernlurker what lurkd at July 27, 2023 04:54 PM (aCNZ6)

511 I'm making $90 an hour working from home. I never imagined that it was honest to goodness yet my closest companion is earning sixteen thousand US dollars a month by working on the connection, that was truly astounding for me, she prescribed for me to attempt it simply. Everybody must try this job now by just using this website... www.Payathome7.com

Posted by: www.Payathome7.com at July 27, 2023 05:57 PM (JUywZ)

512 Rons and Ettes, what we have is a supply side inflationary cycle caused by expensive energy.

Biden started it by shutting down American fossil fuel energy on day 1 leaving OPEC back in control with some Russian market influence. Our economy has slowed this spring so the Saudi's naturally just cut production again last week so the inflationary beatdown reneweth.

Yes, printing money hasn't helped inflation, but energy costs are the basis of all goods made.

Posted by: Danimal28 at July 27, 2023 06:32 PM (ryUqI)

513 I'm making $90 an hour working from home. I never imagined that it was honest to goodness yet my closest companion is earning sixteen thousand US dollars a month by working on the connection, that was truly astounding for me, she prescribed for me to attempt it simply. Everybody must try this job now by just using this website... www.Payathome7.com

Posted by: www.Payathome7.com at July 28, 2023 04:01 AM (Z6A1s)

514 name check

Posted by: gingeroni at July 28, 2023 01:29 PM (86qGP)

Processing 0.09, elapsed 0.1018 seconds.
15 queries taking 0.0264 seconds, 523 records returned.
Page size 293 kb.
Powered by Minx 0.8 beta.

The Fed Hikes Interest Rates to 22-Year-High to Combat Biden's Hyperinfation;Even With This Strong Medicine, Predicts Inflation Will Be With Us for a Long Time

Comments

The Fed Hikes Interest Rates to 22-Year-High to Combat Biden's Hyperinfation;
Even With This Strong Medicine, Predicts Inflation Will Be With Us for a Long Time