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Magox

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About Magox

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  1. Guess it really doesn’t matter anyways, the only ones watching those channels are people who already hate the president or people at airports. and there aren’t many people at airports
  2. Let's just say that I disagree with what you said. But I understand where you are coming from.
  3. I get that. There is no magic panacea. It will help speed the recovery some, but it's essentially just pain pills to make the recovery more tolerable from a human suffering standpoint. We shouldn't discount that. They are citizens and they are suffering.
  4. We'll see how effective the Relief bill will eventually be. But what is it exactly that you are against in it? Are we talking about these miniscule pet projects such as the $25 Million for the Arts deal? I say miniscule from a relative basis. Money was provided to state and local governments. I don't see how there is anything wrong with that. There was over $100 Billion given to hospitals. There was $350 Billion for small businesses with strings attached, where they had to keep all their employees still employed. There was $500 Billion for Big Business. It's not the hotels, airlines and other big businesses fault, they needed a lifeline. This isn't like the banking crisis of 2008 where we bailed out banks that had these crazy business practices. This is not a moral hazard issue which was my main argument against the bank bailout bill. Even though now rethinking it, in principle I am still against that bill but it was a necessary evil. I would like to understand why you are so vehemently against the Relief Bill?
  5. There are so many variables involved the most important being how quickly we can begin phasing back the workforce and at what utility rate. Every day that we are in this shut down mode is every day that businesses are killed and/hobbled. I was thinking that we would begin phasing in some of the workforce by May, now I'm not so sure of that.
  6. She will have hers, the Senate will have theirs and then Trump/Mnuchin will have one. I'm not sure one will get passed because I see everyone outside of Trump/Mnuchin trying to get in their pet projects or in the Republicans case trying to severely limit it. This is going to be a much tougher and contentious negotiation than the Relief Bill. Nancy got very little what she wanted out of the Relief bill, she will look to exert herself. Senate Republicans will push back hard. Meanwhile Trump will be like "Pass Something Now"
  7. I'm not arguing this. But, that is how it is. The government pays back Treasury bond holders, so whomever that may be are the ones that get paid. And the U.S has not shown one inkling that it cannot repay its debt. When you see issues like you saw Greece or Argentina with their debt defaults, it wasn't because of the amount of debt they had accumulated, it was because they couldn't repay the cost of servicing that debt or at least the fear of that. The U.S right now at this moment is going to have a tremendous shortfall in revenues, that will bounce back whether we do stimulus bills or not. But what an effective stimulus plan would do is quicken the recovery, get the economy back on track sooner and more importantly help out millions of people get employed and/or businesses get lifted. In regards to your second point. What's the point of making that argument. That's like saying Chicago Bulls only won those NBA titles because of Michael Jordan. We have the US dollar, and there is nothing remotely close to replacing that at this point in time.
  8. And you are right, at the end of the day without demand it doesn't matter how cheap the money is it won't make a difference. This relief package that was recently passed was not a "stimulus" bill, it was a relief bill to help make partially whole what was lost. And what was lost will not be made fully whole by this $2 trillion dollar relief bill. But it will help lessen the depth of the hole that we will suffer. This infrastructure idea is an essential need. There are countless studies that show improved roads etc leads to more efficiency and $$'s. And as I have stated, infrastructure enhancements is a function of government, so we aren't talking about something else. AND, it is a form of demand. It's not the answer to solving our problems but think of it as a kick start. There would be construction jobs, construction materials etc that would be purchased and created. It's these sort of kick start measures that can help an economy moving. I don't know if people truly realize how deep this hole is going to be. We can snap back to full employment quicker than the 2008 downturn, but the 2008 downturn had structural issues. Demand side economics helped on the margins but the problems were structural in nature. This downturn is worse and less sever than the 2008 down turn. The hole is going to be MUCH MUCH deeper. But the issues aren't structural, a good old Demand side economic stimulus can definitely get us right back on track. I'm not advocating that it makes the country hole, it just needs to accelerate the recovery. If you accelerate the recovery, less people will suffer for shorter periods of time.
  9. That's the rub. Efficiency from government in many aspects are not optimum. With that said I'd rather have someone who knows how to cut red tape and Trump is someone who could do that. Keep in mind, infrastructure improvements is a government function.
  10. I know that the majority of this board is against racking up more debt to the nation. And I won't get into my thoughts at this time on the national debt and the clear advantages that we have as a nation in regards to that. So my focus on this particular topic is Trump's push for another $2 Trillion for infrastructure. I think many of us saw Trump's presser yesterday. The amount of people that may die could be really high. The economic damage that this downturn is going to cause is going to be devastating. There will be companies that don't make it out of this, that will permanently go out of business. Yes, at some point those companies will be replaced but the longer we are shutdown the more companies that will be in this group. This will not be a V sort of recovery that within a year we will be where we were before this happened. At least not as the way things are looking now. The $2.2 Trillion will provide some relief but the economic damage will be much greater than that. The important thing is that very little of this is because of bad business practices. With all that said, Trump is actually right here. Improving Infrastructure is a function of a government and it is something that has been on his and the Democrats agenda for a while. There is no better time to borrow money than right now. Interest rates are below .25%. That is unbelievably low and since most of this debt is pushed out to long-term treasury bonds, the cost to service this debt is very low. So if you were a business owner, and you just went through a down turn and you needed to go to the bank to get a loan. And this loan would help you beef up your staff and improve and purchase new equipment that would have had to have been purchased anyway, wouldn't you just borrow as much as you possibly could considering that the interest rates are near 0%? You'd be helping by providing more jobs and getting your business back to order as quickly as possible. The concept remains for the government, we are in a deep hole and each day that passes by that hole gets deeper. This is a time where government can step in and help with relief to its citizens and improve the infrastructure with better roads, bridges etc. As far as I'm concerned, all the things that government was planning on doing or likely to have been doing at some point, they may as well appropriate that now. The government will never have interest rates as low as they are now and it only makes good business sense to borrow now while rates are this low.
  11. You very well may be right. But even if you have a persuadable group of 10-15% of the voting public, that is a substantial number. Between, PA, MI and WI Trump won those states with less than 100k votes between them all. All it takes is a percentage point or two to make the difference.
  12. Whenever these punk "journalists" come out with these gotcha questions, he should just repeat the same line "Yet another gotcha question. Next" . That way he can point out their gotcha questions and just move on.
  13. This is what gets me. He could still substantively push back but when he starts talking about ratings or brings the discussion back to him, that's where he loses some people. If he could just not be so narcissistic, he would do himself lots of favors.
  14. You could be right but that isn't what they are anticipating for this one. Read the two studies that are linked in that article.
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