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whowasthatmaskedman · 70-79, M
Is this the part where I say "I told you so"?😷
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SatanBurger · 36-40, F
@SW-User Okay in the following name why it's propaganda and what the economists get wrong. This is a serious question, as in I'm genuinely interested in your intelligence on the matter. If you know more than economists you should be able to take apart what she says. Thanks.
https://www.peoplesworld.org/article/top-economist-tells-congress-trump-musk-policies-risk-increased-inflation-and-recession/
Shierholz, a former Labor Department chief economist, focused, more importantly, on the future, and the Republicans’ planned $4.5 trillion tax cut for corporations and the rich, coupled with its $1.5 trillion-$2 trillion in cuts in domestic spending and its wholesale firing of federal workers. She didn’t like what she saw.
Shierholz saw the Federal Reserve Board would face rising inflation due to the pump-priming of the GOP plans at a time of full employment. It would have to slam on the brakes by raising interest rates—increasing the cost of borrowing for both the federal government and for consumers on their credit cards, home loans, and car loans. That would dampen the growth the consumer-based economy needs.
“Large deficit-financed tax cuts would likely push aggregate demand above the economy’s capacity to produce, which would either manifest as higher inflation or—if the Federal Reserve intervenes quickly and forcefully to forestall upward pressure on inflation—higher interest rates,” Shierholz explained.
Shierholz saw the Federal Reserve Board would face rising inflation due to the pump-priming of the GOP plans at a time of full employment. It would have to slam on the brakes by raising interest rates—increasing the cost of borrowing for both the federal government and for consumers on their credit cards, home loans, and car loans. That would dampen the growth the consumer-based economy needs.
“Large deficit-financed tax cuts would likely push aggregate demand above the economy’s capacity to produce, which would either manifest as higher inflation or—if the Federal Reserve intervenes quickly and forcefully to forestall upward pressure on inflation—higher interest rates,” Shierholz explained.
https://www.peoplesworld.org/article/top-economist-tells-congress-trump-musk-policies-risk-increased-inflation-and-recession/

SW-User
@SatanBurger it's propaganda because it's fear baiting journalism that is full of theoretical situations and some figure head giving scenarios. At any point during biden's time in office you never complained or felt that the economy wss in trouble ask yourself why. The same media that's reporting on the end of the world today was reporting on progress then.
Take this recent meeting in tbe oval office Donald Trump just prevented world war 3. If he gave in and allowed Ukraine to join nato world world 3 happens immediately now that Trump has played his hand we'll make likely get American companies in Ukraine. So then the situation will be if Russia attacks those areas with American workers he starts world war 3 by attacking a nato country without making all of Ukraine a retaliation zone.
By doing that Russia is limited to where they can engage without triggering a response by nato. Look how the media is reporting the situation it's being made out a whole different way. To answer your question it's propaganda because they pick and choose who the bad guy is they twist facts and change the meaning of words to fit narratives. I don't even want to take this seriously because we're talking about a recession right now while ignoring the fact we changed the meaning of the word to ignore the fact biden put us in one the media wasn't reporting on the current economy then
Take this recent meeting in tbe oval office Donald Trump just prevented world war 3. If he gave in and allowed Ukraine to join nato world world 3 happens immediately now that Trump has played his hand we'll make likely get American companies in Ukraine. So then the situation will be if Russia attacks those areas with American workers he starts world war 3 by attacking a nato country without making all of Ukraine a retaliation zone.
By doing that Russia is limited to where they can engage without triggering a response by nato. Look how the media is reporting the situation it's being made out a whole different way. To answer your question it's propaganda because they pick and choose who the bad guy is they twist facts and change the meaning of words to fit narratives. I don't even want to take this seriously because we're talking about a recession right now while ignoring the fact we changed the meaning of the word to ignore the fact biden put us in one the media wasn't reporting on the current economy then
whowasthatmaskedman · 70-79, M
@SW-User So. Thats just not true. You be ready too much fakely news.. Or you are the fake news...Try getting a news source outside America. The only one there telling the truth are comedians..😷
whowasthatmaskedman · 70-79, M
@BohemianBabe Thats a wonderdream. Sadly he will take all Americans and a lot of unfortunate people overseas with him..😷
SatanBurger · 36-40, F
@SW-User
You’re calling this propaganda, but you haven’t actually addressed the economic argument. The economist in the article explained how deficit financed tax cuts could overheat the economy, forcing the Fed to raise interest rates, which could slow growth. Do you disagree?
Media bias exists, but that doesn’t mean every claim is false. Instead of dismissing it as fear baiting, why not focus on whether the economic reasoning holds up?
If you think tax cuts wouldn’t increase inflation or lead to higher interest rates, explain why. Just saying the media picks and chooses isn’t an argument against the economics being discussed.
As for Ukraine...
That’s a completely different topic. We’re discussing economic policy, not foreign affairs. If you want to debate NATO, that’s another conversation, but it has nothing to do with whether deficit financed tax cuts could lead to inflation and higher interest rates.
The definition of a recession has been debated, but that doesn’t change whether tax cuts and spending cuts could impact inflation. If you think the economist is wrong, you need to explain why their prediction about inflation and interest rates is incorrect.
If you actually want to have a serious discussion, engage with the economic points. Dismissing it as ‘fear baiting’ and bringing up NATO isn’t a real counterargument.
Let’s talk facts, do you think cutting taxes by $4.5 trillion while also cutting spending by $2 trillion would have no economic consequences? Why or why not?"
it's propaganda because it's fear baiting journalism that is full of theoretical situations and some figure head giving scenarios. At any point during biden's time in office you never complained or felt that the economy wss in trouble ask yourself why.
You’re calling this propaganda, but you haven’t actually addressed the economic argument. The economist in the article explained how deficit financed tax cuts could overheat the economy, forcing the Fed to raise interest rates, which could slow growth. Do you disagree?
Media bias exists, but that doesn’t mean every claim is false. Instead of dismissing it as fear baiting, why not focus on whether the economic reasoning holds up?
If you think tax cuts wouldn’t increase inflation or lead to higher interest rates, explain why. Just saying the media picks and chooses isn’t an argument against the economics being discussed.
As for Ukraine...
That’s a completely different topic. We’re discussing economic policy, not foreign affairs. If you want to debate NATO, that’s another conversation, but it has nothing to do with whether deficit financed tax cuts could lead to inflation and higher interest rates.
The definition of a recession has been debated, but that doesn’t change whether tax cuts and spending cuts could impact inflation. If you think the economist is wrong, you need to explain why their prediction about inflation and interest rates is incorrect.
If you actually want to have a serious discussion, engage with the economic points. Dismissing it as ‘fear baiting’ and bringing up NATO isn’t a real counterargument.
Let’s talk facts, do you think cutting taxes by $4.5 trillion while also cutting spending by $2 trillion would have no economic consequences? Why or why not?"