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Presidential candidate Joe Biden has caused a stir with an ambitious economic proposal?

serfserf Member Posts: 9,217 ✭✭✭✭
edited July 2020 in Politics
Oh let's see when he gets into office he will borrow(not spend) 5 trillion dollars From The Federal Reserve credit line and imposed racial equity by giving out free money and benefits to The BLM for voting him in.
 Campaign promises and balancing the budget are two birds of the same feather. False leadership under the guise of free money for all. It's all a joke on the taxpayers with hyperinflation and a war to blame it all on.
                                 serf
                   Presidential candidate Joe Biden has caused a stir with an ambitious economic proposal: making racial equity part of the U.S. Federal Reserve’s mandate. Critics worry that such an explicitly political goal will compromise the central bank’s independence, and undermine its efforts to do what is best for the economy as a whole.

Actually, I think it’s a great idea. If Congress insists that the Fed act to reduce racial inequality in labor markets, it won’t benefit only Black Americans. It will achieve better economic outcomes for the country as a whole.



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Comments

  • chiefrchiefr Member Posts: 14,083 ✭✭✭✭
    The greatest threat Joe Biden proposes relative to the economy is repealing GOPs 2017 tax reform act.
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  • serfserf Member Posts: 9,217 ✭✭✭✭
    edited July 2020
    GreatGuns said:
    No surprise, but you're talking out of both sides of your mouth serf. Criticizing with your imaginary blather in the first paragraph, then presenting the actual intent and saying it's a great idea makes me question your intentions here again. Confused? Miss your own original point? Nevermind. I'm not suppose to feed you.
      It's called political satire, get a clue. You are the one confused and are you a friend of Barziila? You sure act like him here.
                                                    serf

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  • serfserf Member Posts: 9,217 ✭✭✭✭
     You can refute the obvious.Your posts are not objective but only subjective. You can live in your bubble and think about your accolades in your past. .  Like King Solomon said it's all vain and vanity in the end anyway.  Personal Name calling is not debating it's only slandered.  The Federal Reserve will lose control soon enough ,just watch it and see for actions are louder than words. We agree to disagree and being angry at the messenger instead at the message is not going to solve anything.
    And to think you have some philosophical leadership for the forum is not for you to decide. A chief cannot be the only judge of his own cooking.
                                              serf
                               
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  • BobJudyBobJudy Member Posts: 6,630 ✭✭✭✭
    I question the premise of the author that you quote in your last two paragraphs. At its core this plan is nothing new. The Biden plan is nothing more than affirmative action with a bigger carrot at stake. All it will do is pump more money into the economy at the expense of more debt. Raising taxes to pay off that debt will neutralise any monetary benefit. Affirmative action has made some small inroads regarding minority employment but cultural resistance fostered by socialist programs have prevented it from making significant progress. You can't force people who are accustomed to having the government provide to take advantage of any style of affirmative action. It doesn't matter their race, ambition and accountability both rank low on the priority list of certain segments of society. Insanity is trying the same thing over and over expecting a different result. Personally I think a WPA style of program should be implemented but that would be the kiss of doom for any politician because of the work requirement. It is easier to buy votes than it is to earn them. Bob
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  • serfserf Member Posts: 9,217 ✭✭✭✭
            
    t. It is easier to buy votes than it is to earn them. Bob
            In this case it will be a false promise. Easier to be promised and fail to deliver. The Federal Reserve is losing faith with We The People. If they show their hand and start banning cash paper because of Cov19 virus like it has happened with coin change then the gig is up. Point of sale taxing is why they might do it.  All things considered.
                                              serf
        
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  • BobJudyBobJudy Member Posts: 6,630 ✭✭✭✭
    Strange - the projections for coin production by the mint amounts to about 3 billion more for this year over last year's production. They have ramped up to offset all the self isolators sitting on their pocket change and keeping it out of circulation. Kind of just the opposite of what you posted. But facts are never as much fun as gloomy made up predictions. Bob
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  • serfserf Member Posts: 9,217 ✭✭✭✭
    edited July 2020
    BobJudy said:
    Strange - the projections for coin production by the mint amounts to about 3 billion more for this year over last year's production. They have ramped up to offset all the self isolators sitting on their pocket change and keeping it out of circulation. Kind of just the opposite of what you posted. But facts are never as much fun as gloomy made up predictions. Bob

     They are hoarding coin change? Now ask yourself why is the public doing That? That is the question?   Yeah I am gloomy because we are cutting off all Chinese trade soon and we don't have the capacity to take up the slack for important products
     Like medical drugs and to many other product to list but one big one here is/was lead and the smelting of it.
       
    We just had The Chinese Embassy shut down here in Houston  with Trump forcing them all out of the country yesterday. Stealing Cov19 research here and burning Dumpsters full of papers?? War could be coming very soon with China, how's that for doom and gloom.
                                               serf
                                         
    The US has ordered China to close its consulate in Houston, Texas, by Friday - a move described as "political provocation" by Beijing.
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  • BobJudyBobJudy Member Posts: 6,630 ✭✭✭✭
    serf said:
    BobJudy said:
    Strange - the projections for coin production by the mint amounts to about 3 billion more for this year over last year's production. They have ramped up to offset all the self isolators sitting on their pocket change and keeping it out of circulation. Kind of just the opposite of what you posted. But facts are never as much fun as gloomy made up predictions. Bob

     They are hoarding coin change? Now ask yourself why is the public doing That? That is the question?   Yeah I am gloomy because we are cutting off all Chinese trade soon and we don't have the capacity to take up the slack for important products
     Like medical drugs and to many other product to list but one big one here is/was lead and the smelting of it.
       
    We just had The Chinese Embassy shut down here in Houston  with Trump forcing them all out of the country yesterday. Stealing Cov19 research here and burning Dumpsters full of papers?? War could be coming very soon with China, how's that for doom and gloom.
                                               serf
                                         
    The US has ordered China to close its consulate in Houston, Texas, by Friday - a move described as "political provocation" by Beijing.
    Did I use the word hoarding or was that the word you wanted to hear? In a large portion of our country shopping habits have changed dramatically. Not a lot of coins are exchanged and put back into circulation when one orders from places like Amazon. Banking habits have changed. I normally don't carry coins and any that I accumulate sits around until there is enough to roll up and drop off at the bank. Due to the virus banks here are mostly limited to drive up service, with inside service by appointment only. I am not going to try to send $50 - $100 worth of coin thru their pneumatic tubes a roll or 2 at a time. I am also not going to make an inside appointment just to exchange my coins for a mere $100. That is why coins aren't circulating, not some worry that the dollar will crash or the Chinese will start a war. Sometimes we forget the simple answer and try to find a deeper meaning that just isn't there. 

    Regarding China being our major supplier of a lot of critical items, you are correct. This has been a wake up call for the world. Perhaps we will learn to be self sufficient. The good thing is that the Chinese economy needs the West just as much as we need them. A lot of countries are now looking hard at their Chinese relations and dependency, not just the U.S. Is war possible? Sure it is but it isn't likely. We still carry the big stick and unlike a few years ago they think we just might use it if necessary. Bob
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  • spasmcreeksrunspasmcreeksrun Member Posts: 1,755 ✭✭✭
    America can learn to stand on its own two feet or learn how to abjectly grovel before china and pay what ever they demand...
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  • mjrfd99mjrfd99 Member Posts: 4,553 ✭✭✭
    Lyin'biden's boys crack me up. Crooked rat joe been liing for 50 years.  Back when a b c actually did news and not 24/7 d-rat propaganda:  
    https://www.youtube.com/watch?v=kDeKdZ6D6yI&feature=youtu.be
    They're as wacked and as full of rat s***as he is.  
    Not a coincidence he looks like the banjo boy from Deliverance.



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  • mjrfd99mjrfd99 Member Posts: 4,553 ✭✭✭
    Who else can toss chinaman's salad as good as crooked rat joe?
    Other rats.
    https://www.youtube.com/watch?v=Nv7yVCwv6NU
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  • nononsensenononsense Member Posts: 10,928 ✭✭✭✭
    O.K. Once again this kind of antagonism warrants closure.
    Best.
     
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This discussion has been closed.