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All Of The Elements Are In Place For An Economic Crisis Of Staggering Proportions

They were able to delay the U.S. economy’s day of reckoning, but they were not able to put it off indefinitely.  During the pandemic, the Federal Reserve pumped trillions of dollars into the financial system and our politicians borrowed and spent trillions of dollars that we did not have.  All of that money caused quite a bit of inflation, but it also created a “sugar rush” for the economy.  In other words, economic conditions were substantially better than they would have been otherwise.  Unfortunately, there will be a great price to be paid for such short-term thinking.  From the federal government on down, our entire society is absolutely drowning in debt, and now it appears that our economic problems are about to go to the next level.

In early 2024, there are all sorts of signs that economic activity in the U.S. is really starting to slow down.

For example, we just learned that consumer spending “fell sharply” during the month of January…

Consumer spending fell sharply in January, presenting a potential early danger sign for the economy, the Commerce Department reported Thursday.

Advance retail sales declined 0.8% for the month following a downwardly revised 0.4% gain in December, according to the Census Bureau. A decrease had been expected: Economists surveyed by Dow Jones were looking for a drop of 0.3%, in part to make up for seasonal distortions that probably boosted December’s number.

However, the pullback was considerably more than anticipated. Even excluding autos, sales dropped 0.6%, well below the estimate for a 0.2% gain.

Sadly, the truth is that U.S. consumers just don’t have as much money to spend these days.

The economic problems are looking to get worse.

Milei Secures Argentina's First Budget Surplus Since 2012 After Only One Month In Office

Not long after socialist activists flooded into Buenos Aires to protest President Javier Milei's sweeping budget cuts and reforms, it has been announced that Argentina is enjoying its first monthly budget surplus since August 2012.  The budget fix (and $589 million positive balance) took Milei only one month in office to achieve and leaves the political left with some embarrassing questions to answer.

Milei is considered a "far right" libertarian, but his extensive economic background has so far made him perfectly placed to begin repairs to Argentina's long suffering fiscal system.

A balanced budget is the first step towards removing the country's economy from under the thumb of the International Monetary Fund and the organization's $44 billion loan.  Though Argentina has a long way to go to solvency, the socialist policies of previous administrations only served to trap the population in a prison of persistent debt.  This has led to a series of stagflationary crisis events and a greatly devalued peso.  The economy is currently suffering from a 250% inflation rate.

Argentina has a surplus just one month after Javier Milei became Argentine president.
The DUmpster / Re: Trump is like Mr.Haney from Green acres.
« Last post by CollectivismMustDie on Today at 06:44:15 PM »
Biden is like the Jeff Bridges character from Thunderbolt and Lightfoot.

He's like an evil, less competent Mr. Magoo.
The DUmpster / Re: Trump is like Mr.Haney from Green acres.
« Last post by Dblhaul on Today at 05:48:42 PM »
History will show you a complete moron.

Heck with history, evert post this DUmmie makes proves it's a complete moron.
The DUmpster / Re: Trump is like Mr.Haney from Green acres.
« Last post by ADsOutburst on Today at 04:04:11 PM »
Was that Word Side Salad supposed to be coherent?

Indeed, it was... cryptic at best.
Pototan (855 posts)

I can never understand why people vote against their own self-interest...

I don't expect mouth breathers like yourself to even come close to comprehending exactly what my "self-interests" might be, DUm'Rat. I also have neither the patience nor the crayons to try explaining those self interests to you at this time.

Quote from:  DUm'Ass Pototan
...In the United States, every four years, there is a binary choice for the leader of the country.


Maybe YOU choose a "leader", DUm'Rat, but I'm electing a REPRESENTATIVE. The office of the President is supposed to be REPRESENTING ME, primarily in this nation's interactions with outside powers. He, she or it does not LEAD me; theoretically, s/h/it is supposed to be led - in part - by ME and the rest of my countrymen. Perhaps that's why this country is in such a sorry state, ass clown; you're putting clowns into office and expecting them to lead you, while they are looking to the likes of you mouthbreathers that elected them for whatever direction or cues they can get; the end result being that NOBODY is ****ing steering the damned ship.
The DUmpster / Re: Trump is like Mr.Haney from Green acres.
« Last post by USA4ME on Today at 03:44:45 PM »
The primitive Duncanpup is like the the sliding door to the Douglas’ closet; unhinged and always falling down.

Who the hell is he to decide what's in my best interest?

Ding! Ding! Ding!


  :beathorse: :beathorse: :beathorse: :beathorse: :beathorse: :beathorse: :beathorse: :beathorse: :beathorse: :beathorse: :beathorse: :beathorse: :beathorse:  :-)

I guess it’s the only horse they have lol :loser: :rotf: :rotf: :rotf:

Well the Trump Is Literally Hitler card isn't working so Dems gotta have something to dodge LIEden' myriad economy and foreign policy failures. OK, "myriad" is a bit of an exaggeration.
The DUmpster / Re: Trump is like Mr.Haney from Green acres.
« Last post by DefiantSix on Today at 03:35:24 PM »
Biden is like the Jeff Bridges character from Thunderbolt and Lightfoot.

Can't disagree, but I've seen SpongeBrainShitPants as more like Bernie lately, myself.

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