finance
Money talks; reviewing the global economy, government spending, taxes, and economic policy that affect our social and political future.
Is the U.S. Government Doing Too Little or Too Much To Help The Economy During the Covid-19 Pandemic?
Yes, they are on both counts! Nominal U.S. GDP reached it trough in Q2:2020 and was down $2.2T but in Q3:2020 it was down by just $580b, respectively from Q4:2019. Yet, in Dec. we passed a $935b stimulus relief bill and are now trying to pass another $1.9T dollar package. That is about $2.8T worth of economic relief to plug up a shortfall of $580b as of Q3:2020. This is on top of the $3.5T worth of additional stimulus (e.g., the CARES Act and several others) prior to the stimulus package signed in Dec. 2020. Interestingly, the economic shortfall from this pandemic is expected to narrow further in Q4:2020 as Real GDP is likely to grow by around 5.0%. To be sure, if much of the recent proposed economic stimulus legislation is approved by Congress and signed into law by the President --- U.S. real GDP in 2021 is likely to grow by 6.0% after contracting by about 3.5% in 2020.
By Anthony Chan5 years ago in The Swamp
Biden's Economic Balancing Act
When President-Elect Biden proposed his latest economic recovery plan the intentions of which are sound but, therein lies potential setbacks to authentic economic stabilization of our economy. We have to point out that any increase in basic wages my sound like a dream come true for millions but, conversely consumer goods have always risen proportionally to any increase in incomes. A case in point : When the Alaska pipe line was being constructed wages for the average construction worker was around $80,000 per year. What was not readily explained was the fact that rent, food, even gas for commuting correspondingly rose as well. The bottom line is the fact that these construction workers barely had enough disposable income to really have any net gain in their financial situation.
By Dr. Williams5 years ago in The Swamp
Bryan Watch - Dec 2020
Obviously, the biggest debate in Congress this month has been over providing addition relief for Americans impacted by the COVID pandemic. After Congress passed a $600 relief bill, President Trump called for Congress to increase checks to $2000.
By John Heckenlively5 years ago in The Swamp
A digital Euro? Why? What? When?
Do you need another payment method? You have your debit card. You (probably) have some cash. And you may be using services like Apple Pay. In a few years, a new option may just be added: a payment app or card from the European Central Bank with which you can transfer "digital euros."
By Bryan Dijkhuizen5 years ago in The Swamp
Why Reagan Was A Bad, Bad Man
As anyone who knows me well will tell you, I am in no way a fan of laissez-faire economics. I believe that history has proven time and time again that industry is wholly incapable of regulating itself. Pollution, poverty, suppression of worker rights and economic stagnation have significantly increased over the last forty years, all under the banner of deregulation. This was a movement which was supposed to provide a better future for everyone, but has failed spectacularly to improve the lives of anyone outside of a privileged few.
By T.C. Randall5 years ago in The Swamp
What is Capitalism? Legalized Theft.
Capitalism is an economic system centered around not only the private ownership, control, and operation of industrial means of production (the factories, farms, and other manufacturers of food, clothing, and all the products and services we use every day), but also the deliberate redistribution of a vast, overwhelming majority of global wealth into the pockets of those same private owners of the means of production.
By Johnny Ringo5 years ago in The Swamp
Stimulus Who?
Stimulus’s are needed right now in our country.But rumors are being spread that they have no idea when the next one will be. Democrats and Republicans are saying this saying that I’m saying everything is wrong.Donald Trump, our president during this dark time has made it easier. Pelosi refused to rule out the chances of reaching an agreement before the election.
By Elizabeth Havens5 years ago in The Swamp
Finally some updates about the stimulus package
For months now, millions of Americans grappling with the economic fallout of the coronavirus pandemic have been pinning their hopes on Congress delivering another round of financial relief, including direct cash payments like a second round of $1,200 stimulus checks and an extension of enhanced federal unemployment benefits.
By Anthony Lazar5 years ago in The Swamp
US Financial Change Management
Introduction It’s no secret that the entire US budgeting is in serious need of financial change management; though other countries could look at this too. Truth is, I had what I consider to be a very simple and obvious thought, then I did the math on it all; which I hate doing. Anyway, here are my thoughts.
By Timothy A Rowland5 years ago in The Swamp
The Price Of Being Black In America: How Wall Street Makes Millions Off Of Police Brutality.
Very little surprises me these days when it comes to anything dealing with racism, white supremacy or white privilege. I’m even less surprised by the ruthlessness that is the American capitalistic economy and what it breeds in some people. But I must admit, when I first heard that Wall Street, big banks and wealthy investors were making hundreds of millions of dollars off of police brutality cases, it not only brought American capitalism to an all time low in my eyes but reminded me that this is really nothing new. The history of this country was built on stealing lands and stealing people to build the “American Dream.” That system has flourished for 401 years. Why should the fact that some white people continue to make money off of the backs and deaths of Black people be any surprise when there is a racist in the oval office?
By Whitney Smart5 years ago in The Swamp
