The Nation's Financial Condition

[youthathletics]

Effective interest costs are below zero at this time for a lot of borrowing - so we actually should be increasing our debt to:

1. Overcome the economic effects of the pandemic.
2. Actually do needed infrastructure, including transitioning to a renewable/electric economy.

Fix some of these issues and the economic expansion can actually change that ratio of debt to GDP.

I think that's exactly correct, though perhaps not obvious to those who've been sold on the idea that if a country spends more than you take in in any given year it's all a loss. Under that view, no spending is 'investment', it's all gone.

And right now, the cost of 'investment' is very, very low, so now's the optimal time for such to be made.

Now you sound like a republican...I knew you had it in you. Hope you had a great day.

Yup, just want smarter, more honest and transparent government, not incompetent, corrupt, or ideologically driven decisions.

That needn't be D or R, it's what we should all want. And in that zone, D's and R's can disagree, but the negotiation of such can lead to consensus and compromise overall much better than division and discord.

Wonderful day yesterday. Son, wife and I took a bike ride down on Kent Island, ending with an sunset dinner on the end of the dock at the Jetty, fried oyster appetizer, burger with crab dip and bacon, rockfish and fries basket, and soft crab BLT were shared around over a pitcher of beer. Boats, band playing, sunset...discussion about life...

Happy to hear about your great day on the island with the family. We would frequent The Jetty often when we had our boat. Often stopping at Red Eye's as well. Cycling in KI is so nice....no hills, only batteling headwinds on occasion.

[MDlaxfan76]

Effective interest costs are below zero at this time for a lot of borrowing - so we actually should be increasing our debt to:

1. Overcome the economic effects of the pandemic.
2. Actually do needed infrastructure, including transitioning to a renewable/electric economy.

Fix some of these issues and the economic expansion can actually change that ratio of debt to GDP.

I think that's exactly correct, though perhaps not obvious to those who've been sold on the idea that if a country spends more than you take in in any given year it's all a loss. Under that view, no spending is 'investment', it's all gone.

And right now, the cost of 'investment' is very, very low, so now's the optimal time for such to be made.

Now you sound like a republican...I knew you had it in you. Hope you had a great day.

Yup, just want smarter, more honest and transparent government, not incompetent, corrupt, or ideologically driven decisions.

That needn't be D or R, it's what we should all want. And in that zone, D's and R's can disagree, but the negotiation of such can lead to consensus and compromise overall much better than division and discord.

Wonderful day yesterday. Son, wife and I took a bike ride down on Kent Island, ending with an sunset dinner on the end of the dock at the Jetty, fried oyster appetizer, burger with crab dip and bacon, rockfish and fries basket, and soft crab BLT were shared around over a pitcher of beer. Boats, band playing, sunset...discussion about life...

Happy to hear about your great day on the island with the family. We would frequent The Jetty often when we had our boat. Often stopping at Red Eye's as well. Cycling in KI is so nice....no hills, only batteling headwinds on occasion.

Lots of folks out, maybe one of the last nice weekend days.

Haven't been to Red Eye's...where's that?
Outdoor, water view dining?

EDIT, ahh I see it...haven't explored out there by bike, might have to do so!

[CU88]

Boeing to Cut 11,000 More Jobs

Boeing will cut 11,000 more jobs with 7,000 in the form of layoffs (WSJ). The job cuts come atop previously announced cuts of about 20,000 jobs, and the company expects to end the year with about 130,000 workers. That is about 40% fewer employees than the company had in 1997 when it merged with McDonnel Douglas.

[CU88]

“Nearly half the 22 million jobs lost in March and April remain unfilled and the unemployment rate remains at 7.9%, more than double its pre-pandemic level as 12.6 million Americans are still out of work.”

[jhu72]

Trump's first term to date stock market inferior to 3 of the other last 4 presidents. Obama and Clinton blow him away by more than 20%, papa Bush beats him by a nose of 1%. Only "W" does worse.

[Brooklyn]

With the election result, how soon will the delusional right wing start to cry about the national debt again?

[RedFromMI]

With the election result, how soon will the delusional right wing start to cry about the national debt again?

It has already started - McConnell has brought that up.

In reality, money is effectively free - so spend it for infrastructure and to fix the problems (both medical and economic) from the pandemic. Can fix the issue later.

But that is not likely to happen unless you can get a couple of Rs to cross over and demand it and allow Mitch to be overridden in the Senate.

[Farfromgeneva]

Get rid of all those ag subsidies stat. Rural telecom subsidies? Gonzo.

But...I did read from a credible source that California has become a net recipient of wealth transfers via government in the past few years which was not true prior to around 2015-2017 timeframe.

[a fan]

Get rid of all those ag subsidies stat. Rural telecom subsidies? Gonzo.

But...I did read from a credible source that California has become a net recipient of wealth transfers via government in the past few years which was not true prior to around 2015-2017 timeframe.

We all have. That's what happens when you borrow $3 Trillion over three-isn years (before Covid), and pump it through the economy.

Economically speaking, that's why we have such a massive deficit-----NO ONE is putting in anywhere near what they're taking out from the Federal government. The difference is, if you pull out the Federal funding, San Fran and Silicon Valley will be fine. Meanwhile, rural parts of California will shut down without all that borrowed money.

[CU88]

Any chance of a Pandemic Relief Bill before Jan 20?

[Farfromgeneva]

No, Nein, Nyet

[a fan]

Any chance of a Pandemic Relief Bill before Jan 20?

Nothing will happen until the Senate is settled.

Imho, we won't get any bills passed if McConnell holds....

[Brooklyn]

With the election result, how soon will the delusional right wing start to cry about the national debt again?

It has already started - McConnell has brought that up.

Wouldn't surprise me in the least to see right wing delusionals crying "Blame Biden" for the debt and everything else real soon.

[ardilla secreta]

Berkshire Hathaway B (BRKB) up 12.65 today on news that Kramerica is digging up dirt on Joe Biden

[jhu72]

Any chance of a Pandemic Relief Bill before Jan 20?

Nothing will happen until the Senate is settled.

Imho, we won't get any bills passed if McConnell holds....

McConnell now considers doing something a priority. The real priority is getting it done and announced before the Georgia runoffs. This is one of the issues the dems are going to hang around McConnell and republican senate's neck. The lay of the "issue" land I think really favors the dems in these runoffs, as does the momentum. No reason for Pelosi to give on her demands.

[Jim Malone]

It will be interesting to see if the Federal Reserve and Treasury continue the programs for buying state and local bonds, purchasing corporate debt and making loans to small and medium-size businesses or allow them to sunset December 31.

[jhu72]

Afan's day of reckoning is drawing closer. Olbermann of course is just joking, but a lot of monied folks aren't.

[a fan]

Afan's day of reckoning is drawing closer. Olbermann of course is just joking, but a lot of monied folks aren't.

Yup. We're rapidly approaching the point where we fracture as a nation.

The instant libs figure out that they can have single payer .gov health care. Free University, and all sorts of things.....and all they have to do to get them is to stop sending money to flyover America....and simply keep the money for themselves. And I gotta tell ya, with each passing day of TrumpNation nonsense? It sounds better and better.

Tick tock, Republicans. Ya better learn to code.

[Typical Lax Dad]

Afan's day of reckoning is drawing closer. Olbermann of course is just joking, but a lot of monied folks aren't.

Yup. We're rapidly approaching the point where we fracture as a nation.

The instant libs figure out that they can have single payer .gov health care. Free University, and all sorts of things.....and all they have to do to get them is to stop sending money to flyover America....and simply keep the money for themselves. And I gotta tell ya, with each passing day of TrumpNation nonsense? It sounds better and better.

Tick tock, Republicans. Ya better learn to code.

+1

[ardilla secreta]

Afan's day of reckoning is drawing closer. Olbermann of course is just joking, but a lot of monied folks aren't.

Interesting that you brought this up as the first thing that came to my mind when Biden won was for him to mandate that states get to keep more of their tax revenues. Especially fitting with “taker” states love of states rights and hate of socialism. Time for them to grab their boots by the straps and learn to fend for themselves.