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Fritz
Social climber
Choss Creek, ID
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Jul 26, 2016 - 07:49am PT
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EdwardT! Re your question: Who has really benefited from this recovery?
I have! The best earning years of my life. Millions of other Americans are doing great too. If you start looking at the amount of new constructions, trucks on the highways, & mobs of people in retail stores, you might be able to question the "Nabobs of Negatism" in the Republican party that are trying very-hard to make Americans think times are tough.
Times are not tough, get over it.
Of couse, you might be one of those that is having tough times. If so, try to be a little more positive, it might help your future.
Edit Note to Edward T: I'll stick with answering your original question, not the edited one.
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dirtbag
climber
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Jul 26, 2016 - 08:13am PT
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Yes, Esco, times were so much better when the country was shedding 800,000 jobs per month, housing prices plummeted, the stock market crashed, and we had negative growth. What can i say? You got me.
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apogee
climber
Technically expert, safe belayer, can lead if easy
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Jul 26, 2016 - 08:52am PT
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Make America Implode Again!
Trump/Pence 2016
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Escopeta
Trad climber
Idaho
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Jul 26, 2016 - 09:03am PT
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So, just to be clear; when Hillary gets elected are we still blaming Bush or will we switch to Obeezy?
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dirtbag
climber
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Jul 26, 2016 - 09:09am PT
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There isn't a simple answer. For many of our problems you can blame FDR, Truman, Ike, Kennedy, Johnson, Nixon, ford, carter, Reagan, bush, Clinton, bush, or Obama.
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apogee
climber
Technically expert, safe belayer, can lead if easy
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Jul 26, 2016 - 09:09am PT
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Stop that, dirt. Complex answers like that can make Esco's head explode.
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skcreidc
Social climber
SD, CA
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Jul 26, 2016 - 09:22am PT
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I still blame Hoover
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Escopeta
Trad climber
Idaho
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Jul 26, 2016 - 09:25am PT
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Curious, and yet almost all of you retards are going to simply vote from more of the same.
Makes sense.
You back on my knob Apogee? Little more to the left please.
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apogee
climber
Technically expert, safe belayer, can lead if easy
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Jul 26, 2016 - 09:45am PT
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I forget...who you gonna vote for, Esco?
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Norton
Social climber
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Jul 26, 2016 - 09:46am PT
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Curious, and yet almost all of you retards are going to simply vote from more of the same.
oh no, I am going to vote for the Green Party just because I want change
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Norton
Social climber
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Jul 26, 2016 - 09:49am PT
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looks like Trump is in bed with Putin
that why you gonna vote for him, Excreto?
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EdwardT
Trad climber
Retired
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Jul 26, 2016 - 09:57am PT
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Edit Note to Edward T: I'll stick with answering your original question, not the edited one.
Makes sense. Why discuss the ugly truth affecting the mainstream when you can boast about your own good fortune.
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Ksolem
Trad climber
Monrovia, California
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Jul 26, 2016 - 09:58am PT
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There have been several mentions of low interest rates as if that's a good thing. There is an optimal range for interest rates, and right now they're too low. The risk of lending money outweighs the gains. But we're between a rock and a hard place since even a modest hike in interest will increase the cost of servicing the debt to where it will be a significant part of the budget. we are especially vulnerable to this since all of the governments borrowing is done on short term loans, so changes in interest rates affect us almost immediately.
The question was asked "what is the effect of the debt?" A hike in interest rates, which would be good news economically (businesses will have easier access to money for equipment, people, etc.) has the potential to sink us into a state where programs will have to be defunded to pay the interest. So the Fed will keep adding to the money supply to depress interest rates and "grow" the economy. But when the money supply grows faster than the economy for long enough the inevitable result is inflation.
Pick yer poison.
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apogee
climber
Technically expert, safe belayer, can lead if easy
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Jul 26, 2016 - 10:04am PT
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Let's see...which POTUS should I choose to manage such things...
A candidate with actual political leadership experience, who has direct experience with life in the White House, and a demonstrated history of getting things done....
Or a candidate who has bankrupted 5 companies, stiffed the employees working for him, has NO experience in government whatsoever, but is best buddies with Putin...
Tough choice.
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fear
Ice climber
hartford, ct
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Jul 26, 2016 - 10:20am PT
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It's amazing how blind the strong supporters on either "side" are to reality and just how bad both options are.
But yet this false dichotomy created of two "teams" allows the charade of voting to continue unabated. Different colors, animal mascots, etc. Fascinating.
Good stuff...
Apologies.
Back to your regular programming.
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Norton
Social climber
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Jul 26, 2016 - 10:22am PT
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the national debt has now been largely refinanced
as each debt instrument came to maturity the holders rolled it over into much lower interest rates, including brief spells at negative returns
all great news, in fact the best possible outcome
I will ask one more time, why was old man Conventional Wisdom SO wrong?
he claimed and most everyone believed that a rising national debt had, simply had to result in higher interest rates, yet rates are at the lowest level in the past 80 years
IF you are a traditionalist who believes that what happened in the past means the same thing has to happen in the future given largely the same circumstances then explain why you and Conventional Wisdom were so very wrong this time
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JEleazarian
Trad climber
Fresno CA
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Jul 26, 2016 - 10:30am PT
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I will ask one more time, why was old man Conventional Wisdom SO wrong?
he claimed and most everyone believed that a rising national debt had, simply had to result in higher interest rates, yet rates are at the lowest level in the past 80 years
Old Man Conventional Wisdom assumed that the economy would recover as it did in previous recessions, but instead the economy got hit with the most anti-business regulations in my lifetime. This administration's environmental, labor, financial and legal actors have drastically increased the cost of doing business in this country, and left businesses with fewer opportunities for making money by investing in new plant, equipment or services.
In a normal recovery, demand for investment goods and services would increase the demand for money, raising interest rates. In this economy, where there is little in which to make real investment (as opposed merely to trading assets), the cash stays on the sidelines. If the economy ever takes off, which it should eventually, absent something truly incompetent (such as Trumpian trade policy), inflation and interest rates will both rise.
So the good news is that we haven't had to worry about rising interest rates despite our increased national debt. The bad news is that if the economy ever starts performing the way it has historically, inflation and high interest rates will come roaring back.
John
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guyman
Social climber
Moorpark, CA.
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Jul 26, 2016 - 10:40am PT
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John....Kris.....
good points.
Norton... come on, getting a new credit card every year and maxing it out is a loosing game.
One day conventional wisdom (reality is a better word IMHO) will come flying back to bite you in the ass. (all of us really)
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pyro
Big Wall climber
Calabasas
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Jul 26, 2016 - 10:58am PT
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looks like Trump is in bed with Putin
when Trump becomes president well find out if he can put some missiles in Poland.. bush tried and same with Obama..
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dirtbag
climber
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Jul 26, 2016 - 11:01am PT
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Pyro, he won't even try. He doesn't really give a sh#t about nato.
Not steadfastly honoring that treaty by waffling on our willingness to stand by our allies during a crisis is by far the most reckless and dangerous thing he has said, and should automatically disqualify him as president.
"Keep America Safe" my ass!
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