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Politics : View from the Center and Left

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koan

To: koan who wrote (448561)	8/7/2020 8:59:35 AM
From: Jamie153	1 Recommendation Read Replies (1) of 541119

"The fed just said it would not raise interest rates to curb inflation." That's not exactly what they said. They said they'd keep rates near zero for years and try to increase inflation. They're creating a planned economy. They've made it abundantly clear they don't believe in the free market. The stock market rise proves it's no longer related to the real economy. It's a casino. I stopped listening to conference calls because they all say the same thing. "We don't know what will happen next." IMO, the economy is dead in the water. It needs massive government money to create the illusion of growth. It didn't start with the virus. It's been this way since Trump took office. Republicans know they can explode the debt because they know fox news will protect them and never talk about it. Trillion dollar deficits before the virus were seldom news. So, what we're seeing now is the Trump debt on steroids. In March we had 23.5 trillion of debt. Now we have 25.5 trillion. Do the financial news website even mention the debt under republicans? Of course not. They all supported massive debt from tax cuts. They can't pretend to care about debt now. As far as China is concerned I think it's turning inward and it'll create a consumer based economy and get away from manufacturing. Besides, it's far cheaper to set up shop in Vietnam and Thailand than in China. China was pricing itself out of the market long before the virus. The virus is forcing them to move faster than they expected. Their belt and road will move quickly into Latin America. China set up a military base that shot down a US stealth fighter. Their tech surpassed ours when they had the fastest computers in the world for nearly a decade (republicans put in place across the board spending cuts that put us behind China and Russia). Both Russia and China have hypersonic weapons, something we still don't have. Regardless, every country in the world is going to be saddled with massive debt from the virus and this is on top of the massive debt from the Great Recession. The migration from the Southern hemisphere towards the North will become our new reality and it won't stop this time. The damage caused the virus is global and we're not prepared for what happens when they can't pay their debt.

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