I’m sorry, but economists...

1to392831weretaken said:

GreenRiverGatorz said:

YellowSnow said:

HoustonHusky said:

Guy got a question on if there is a limit to how much money the Fed can print and how large the Federal Government deficits can go and he replied by saying 'the interest rates are incredibly low so the Federal Government should be borrowing everything it can'.

Same guy literally got several questions about unnaturally high oil prices considering the reduction in usage, rapidly rising housing prices, and if the stock market is overvalued and then went on a long talk about how amazingly low inflation numbers are...

Guy forecasts 6% GDP growth for at least the next 2 years...

Had a sweet graph too on how the economy as a whole will be above prepandamic forecasts for 2023 if we pass the large stimulus in front of Congress...admitted under questioning that there is a minor assumption of just using standard multipliers (i.e. if you borrow 10 trillion than the GDP will grow to 50 trillion, or the more the govt spends the better the economy looks...).

With these folks in charge we might get some of those Chinese empty cities built yet...

I'd avoid Spanish banks.

Probably someone like Krugman.

I'm not opposed to still borrowing money at amazingly low interest rates, but that spending has to go into things like infrastructure and/or R&D which increase productivity and have long term ROI. I don't see the point in just giving everyone $2K.

Interestingly enough, neither does Krugman. For as much as the guy advocates for seemingly endless spending, he at least wants it to go towards something. Free money to people who are just going to stash and create more of a savings glut helps no one.

This is why the government should only send the $2K to people like me: It wouldn't be necessary, but, hell, I'd sign a contract if they want that guarantees I will blow all $2K of it in the name of stimulating the economy. I'm a team player like that.

Hookers and blow?

HHusky said:

6% isn't even particularly healthy, unless your argument is that it's healthy when coming back from a massive decline. Maybe that's the thinking here, but it sounds pretty unlikely to me as well. There are better arguments for "going big" than promises of the short term growth rate. I completely agree with everyone who has chimed in about updating infrastructure. It was the one wish list item where I was most in sync with the previous administration's rhetoric, at least.

That's exactly what I'm saying. There's wreckage everywhere, but at the same time, I feel like people are going stir crazy waiting for the covid shackles to come off and that sounds like the roaring 20's Part II is coming to me - but it might take a bit to get going.

HoustonHusky will be right eventually - because everyone who predicts a crash is right if you wait long enough - I'm thinking maybe October of 2029.

HoustonHusky said:

dflea said:

HHusky said:

6% isn't even particularly healthy, unless your argument is that it's healthy when coming back from a massive decline. Maybe that's the thinking here, but it sounds pretty unlikely to me as well. There are better arguments for "going big" than promises of the short term growth rate. I completely agree with everyone who has chimed in about updating infrastructure. It was the one wish list item where I was most in sync with the previous administration's rhetoric, at least.

That's exactly what I'm saying. There's wreckage everywhere, but at the same time, I feel like people are going stir crazy waiting for the covid shackles to come off and that sounds like the roaring 20's Part II is coming to me - but it might take a bit to get going.

HoustonHusky will be right eventually - because everyone who predicts a crash is right if you wait long enough - I'm thinking maybe October of 2029.

Where again did I predict a crash?

Increase the money supply by 35% and the price of assets doesn’t go down...they swing hard because of the instability but they won’t stay down...they go up and up...

But in that scenario claiming 1% inflation and therefore 6% GDP growth is comical...or I should say Banana Republic economics...

Maybe this bored isn't for you, Tug guy. You get all wound up about every subject and now you and pawz are dropping fuckoffs because you can't get your ass out of Tug mode.

You called economists dumbfucks without much backing up your claim to start the thread. Put your money where your mouth is, champ. If the economy is going to lag, then invest that way. No need to rant about someone's prediction of 6% growth. You've also claimed inflation is right around the corner and the dollar will no longer be the reserve currency. I saw you're wrong.

You ok with that, or do you need to fuckoff this post, too?