its your standard deduction on you Fed tax form.
12K for singles
24K for married.

And what is Biden plan to stop inflation?

Spend more money via Build back better. That's his plan.
The Fed reserve manages inflation. They don't cause it.
This all started at least a decade ago when government spending really went off the rails and has yet to be controlled.

Biden is the figure head and hence gets the blame.


If a bill truly helps Americans, Democrats would stop a Republican win just as much as Republican would stop a Democrat win.

So, you want to remove all actual Republicans, especially any with scruples, morals, or love of democracy, and replace them with more know nothing, bat shit crazy, hypocritical, abusive, insanely thin skinned, anti democracy asshole morons like MTG and Bobert that always put party before country, and Great Leader before party….right?

Because you say they are real Republicans, not the people who shaped the party your entire adult life….right?

Only the people who follow Trump, the lifetime Democrat who changed parties because, as he himself said, you can convince the right of any crazy thing and get them to vote based on nonsense (paraphrased, not quoted), who are vehemently against tax and spend, but love borrow and spend, who care deeply about the debt and deficit only when they aren’t in control, who care so much about inflation that they block any nomination to the fed, making it impossible to take real meaningful action to fight inflation.…..only they are actual Republicans. Right?

You are such a silly man.

Average gas prices are temporarily $.06 higher than 2008. Oil prices are dropping fast. Oil companies aren’t pumping oil they have and aren’t near top production levels at refineries, but are complaining they can’t have more preserve land and offshore preserves to drill on.
You want to compare to 2020, and you want to ignore the absolute disaster of leadership that made the economy so bad that gas prices dropped significantly and oil went to -$40 a barrel at one point. You want to forget the -36% gdp and 750000 dead Americans, and between $10-16 TRILLION dollars in wasted money it took to have those lower gas prices (with no where to go because everything was closed, and nothing to buy because all supply chains were broken).
For a family of 4, the debt left by Trump’s Covid failures is well over $200000. How many tanks of gas would that have bought you?
Yes, I maintain my position that the pandemic response team global response unit could have likely identified and stopped Covid in the very early stages and evaded even an epidemic in China had they not been eradicated, and you can’t prove different. That puts it all on you know who’s shoulders.

BTW, liberal California is poised to rebate every taxpayer $400 to cover increased gas prices thanks to our functioning economy and budget surpluses.

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7604733/

With all the Trump and Trumpist failures, I think it could be a total ass kicking BY Democrats. The shine is off the Trump penny, and everyone outside the cult can tell it’s just a blank slug painted copper…that includes many in your party, causing a deep divide for Democrats to exploit. Numerous Republican candidates are being challenged in court to bar them from public office for being part of an insurrection….including Trump in 6 states. Can’t win if you can’t hold office. D’oh!

Are you sad about duckduckgo? It seems your ilk are outraged that the platform has decided to limit (not even censure) Russian propaganda, moving it away from the top of their news feeds, and without their Russian propaganda spoon fed to them, they’ve started throwing tantrums and stomping away in search of a site that will tell them the lies they want to hear. Such infants. Are you one? Be honest. (Ha, like you would)

No, the point of discussion to come to an understanding IMO, not to just argue.

You KNOW this, eh? I think you just believe that, but Ok, then where do we get a well functioning reserve bank? We certainly don’t have one now, we don’t even have a fully staffed reserve board capable of doing business. The gold standard isn’t constantly relying on a functioning fed….good thing because we haven’t had one for decades and don’t seem likely to have one anytime in the near future….by design.

Coin clipping went out with edge minting. Please. Nobody was using pieces of 8 of $20 coins.

Elon is dumping Tesla to pay some enormous capital gains and income taxes he’s avoided for the last decade by taking out loans against his stocks instead of selling any. He likes to say he’s paying the most taxes anyone ver has, and right wing propaganda is trying to back that up, but he didn’t pay any taxes for over 10 years while becoming the richest man ever…so divide by 10 and try again, liar, and his stock gains are also from his companies making artificially high profits by not paying taxes.
If reports are to be believed, he’s worth $200 billion now, so really that amounts to 5.25% total taxes (fed and state)….hardly his fair share…because he’s really a socialist welfare queen!
Be prepared for a massive slump in its value. He’s planning on selling off 10%, but prices will drop far more.

Just gonna leave this here….
Child and animal rapists and kiddy porn producers deputy Dennis Perkins and Cynthia Perkins.

https://www.wafb.com/2022/02/08/attorneys-cynthia-perkins-file-motion-change-venue/

https://www.theadvocate.com/baton_rouge/news/crime_police/article_8d919014-c548-11eb-9675-13ca19304098.html

https://www.livingstonparishnews.com/breaking_news/dennis-perkins-to-seek-plea-deal-to-avoid-trial-attorney-says/article_d2da7670-c559-11eb-ac17-53601
906e672.html

Raped and videoed themselves raping children and animals, and mixed his semen into cupcakes they fed to her students and photographed the children eating them for later sexual gratification.

She’s plead guilty and accepted a 40 year sentence in return for testifying against her cop ex husband, he’s forcing his victims to relive the abuse in court.

Another fine example of our boys in blue.

A German mark had value….until it didn’t. Your opinion of “fiat money” isn’t universal by any stretch. You say it’s universally better. I wholeheartedly disagree, and point to Germany and Venezuela as proof. They aren’t outliers either, (looking at Africa).

Gold is useful and valuable. Digital footprints aren’t. Paper notes aren’t. Printed circuits, connectors, anti oxidation, actual physical money, jewelry, etc. gold has intrinsic value, a dollar bill has about 13210 joules, so its intrinsic worth is about 1 small 1 gram stick as kindling and little more….no matter if it’s a $1 or $500 bill or a check for billions. Again, see Germany, where bills were more valuable as firewood than money.

This deflation idea again. Give me 3 examples of deflation harming/ending a nation on the gold standard please, I’ve never heard of it happening. (Edit: as far as I can find, I’m no economics professor, for the most part the gold standard was abandoned worldwide in the early 1930’s and the last remnants removed in the early 70’s by Nixon)

Explain how unsecured notes guard against speculation….don’t just claim it. I don’t see it, people made a mint short selling Venezuelan (and other failed) dollars….speculating they would crash….they did. What?

GDP is the metric that imparts value to unsecured notes offered by countries.

I think you had a mini stroke, the paragraph starting USofA is a word salad with no meaning.

Name 3. I named Germany post ww1….they didn’t get to borrow or ignore their debts. What are you talking about?

So, the only ones that don’t/can’t borrow are all the ones that need to.

Pretending basing your dollar on Bitcoin is the same as basing it on gold is outrageous idiotic bullshit. Just nonsense. Utterly moronic and pure fantasy. Don’t try moving the goalposts, that’s what you said.

Yes, the fed will take gold. They don’t take Bitcoin, do they? How about shells? Pebbles?

Jesus, you just want to argue. You’re rambling, switching positions and going off on tangents.
It’s not about whether someone might accept it, it’s about whether it’s universally accepted at one value and about holding its accepted long term value. People once gladly accepted beanie babies as payment….stupid people.
Arcata Ca printed up Arcata dollars….you could get them cheap, businesses took them. Wanna put your nest egg into them? You say that’s good money, as good as dollars. I’ll sell them to you for gold, and let’s see who’s doing better in 10 years. Or I’ll sell you pebbles for gold. Any currency you want, I’ll sell you for gold. How’s that working with pebbles or shells? Can you buy currency with them?

It has everything to do with how much it’s worth. Stop jumping subjects because your point is failing to convince. An economy based on pebbles fails because their neighbors don’t value pebbles, but if their pebbles are gold, they succeed because gold is valued universally.

What are you talking about, the gold standard’s ability to keep up? Huh?! No keep up necessary, no slow down required, gold trades exactly as fast as everything else. What is this nonsense?!?

You mean you can’t overspend and go deep into debt?! And that’s bad?! In your opinion, not many economists….and what makes you think you can’t borrow against gold? Secured loans are easier and cheaper to come by. WHAT?!?

Yes, unsecured paper money can just be printed forever, you CAN “sell the universe”. (Or sell dollars who’s overall value is based on your country’s value) over and over, then print more and sell 9/10 again, print more, sell again. Eventually that money is worth less than it costs to print, and your creditors get paid off in dollars worth a tiny fraction of what they lent you. Not if it’s backed with gold.

Miracle cure?!? Quote it. I think you misread. Secured notes being better than unsecured notes is not “miracle cure” or perfection, it’s just measurably better, safer, and more stable. No system is perfect.

No.
IMO….The fed printing money is (one reason) why the economy is a disaster.
Every dollar the fed prints makes every dollar worth less….and eventually worthless.
The fed keeping a moderate reserve and releasing some to stabilize the economy AND RECAPTURING IT LATER keeps economy swings moderate. (You just have to not listen to morons who don’t ever want to rebuild the reserve because it cools off hot economies, and instead they want to live on credit).
Printing money is NOT a permanent solution to not having enough money, and doesn’t keep the economy stable long term. Ask Venezuela.

Basing your dollar’s value on gdp means another 2020 and it might disappear altogether instead of just seeing high inflation for years….no advantage there

No!

A gold standard provides none of the perceived advantages.
There was never any stability under a gold standard.
Unless its just a Bretton-Woods type "gold" standard where the gold is symbolic. The fed printing money is what keeps economy swings moderate.

I certainly hope so, 0-.25% doesn’t cover administrative costs for basically free loans.
If they go slow, it shouldn’t stall….cool off a bit, sure. That’s acceptable.

Personally, I think it all became funny money when Nixon dropped the gold standard, and I would support returning to it, painful as it would be. At least the dollar would have some permanent fairly predictable value. (And the fed would be forced to stop printing more money to pay government debts, which causes inflation).

IMO they will raise rates. the economy will stall. they will be forced to increase purchases of equities and reduce rates (again). the fed will not let another 2008 happen however they will make the crash that much harder. the house of cards has been built for a long time over many administrations and its waay past the point of any attempt at recovery. delaying the pain will make the pain even worse but when it comes crashing down USD will be gone forever and alternatives (like metals and yes BTC) will reign. you will have time though as petrodollar is king at this point other nations will fall before us. make your time.

Duly noted.

Sift animosity aside, given and taken. I truly desire all to succeed.

Your statements about the economy as a whole applies to all, whether they diversify or solely own just 3 stocks or less.


I don't fear a crash of 87 or 2008. But your are right the ground beneath us is shaking. Having belief in our leaders and FED to do the the right thing is a is half harted. Even if they choose a proper corrective path it will be a bumpy ride.



You are right I am forward thinking and willing to take a few hard bumps over the next 10 years. I believe the upside is worth this risk.


I don't want a japan crash that took 25+ years to recover, or a 1929 crash which took 10 years and war to recover.

Every hard crash recovers, eventually.

If things go bad I will exit. Granted no one has perfect timing and neither do I. Will I loose 20 30% probably.

I do watch markets daily.


I'm 60 with 2 years left on the house mortgage. I will have a GE pension and hopefully some SS. Granted inflation can eat that 4K/month away but it will still help. Also I would continue to work.

And if that's not enough at least the house will be paid for and I will eat PB and J. or rice and beans.

Bob, please read this carefully. I know we fuck around a lot here, but I 100% honestly don't want to see you get hurt financially.

Obviously, if you believe in TSLA, I understand you putting your money where your mouth is (full disclosure: I'm holding POTX and CURLF, so I'm on the same page with what I'm saying on this) but PLEASE don't bet money you don't have on TSLA.

“At 10-times revenues, to give you a 10-year payback (P/E 10, my note), I must pay you 100% of revenues for 10-straight years in dividends. That assumes I can get that by my shareholders. It also assumes I have zero cost of goods sold, which is very hard for a computer company.

That assumes zero expenses, which is hard with 39,000 employees. That assumes I pay no taxes, which is very hard. And that expects you pay no taxes on your dividends, which is kind of illegal. And that assumes with zero R&D for the next 10-years, I can maintain the current revenue run rate.

Now, having done that, would any of you like to buy my stock at $64? Do you realize how ridiculous those underlying assumptions are? You don’t need any transparency. You don’t need any footnotes.

What were you thinking?”

-- Scott McNealy was the CEO of Sun Microsystems
2002

At the peak of the Dot-Com, roughly 30 stocks in the NASDAQ 100 traded above 10 P/E. Today ALL stocks in the DAQ do: the average P/E is ~25.5.

TSLA is at a P/E of 175.

There is no American economy. There hasn't been since since October 3 of 2008. Things got catastrophically worse on September 17th of 2019 when the repo market came within hours of completely locking up in a catastrophe that would have made AIG look like a rounding error. The Fed was forced to firehose astronomical amounts of money into the system to keep this from happening and this was before Covid.

In Jan of 2021, there was $2.6 TRILLION in Zombie Debt out there. That's $2.6 TRILLION on the verge of default at 2021 interest rates. The Fed is now in a horrific position: raise rates and watch massive defaults explode like financial nukes, or keep rates steady and watch inflation implode the economy.

People don't understand how bad this is and how much worse it can get. If the Fed has to raise rates by 500 BP -- and Christ fucking help us if they do -- the first order defaults will be the worst in Capitalist history and the second and third order effects could very well be the nightmare scenario we came within 36 hours of in 2008.

Save your money, Bob. Cash is king. And fuck BTC.

There are 2 things.
Inflation.
Biden.
Correlation is not causation.

There are also only two things that can safely be done to combat inflation - raise interest rates (not Bidens job), and actually govern well, make sure public spending is going to the right places instead of fuelling the spiral. That is difficult to evaluate from a distance and at this time, but Biden still has a chance there. Unfortunately the results will only come in over a period of years if not decades. The good thing is that Biden is less ideologically bound than Trump. Trump just lowered taxes for rich people, that was his only economic plan.

Implying current inflation is Bidens fault is like blaming covid on Trump. Its the covid response that can be pinned on Trump based on numbers we have now, after the fact.

How Bidens administration does when challenged will be evaluated in a couple of years time. I am curious why the fed is reluctant to raise the rate at the moment.

Just dont blame the mountain rescuers for the avalanche.