IT’S OVER: LARRY SUMMERS DROPS THERONUCLEAR GRADE BLACKPILL

[Anonymous No.49686088]

[Anonymous No.49686138]

>>49686088
if they raised rates to 20% the GDP would go like -10% or something. not happening.
we will have to live with high inflation.

[Anonymous No.49686199]

>>49686138
pay down your fucking national debt holy shit guys, we appreciate the massive army and the 11 aircraft carriers but maybe fucking take a look at the fact the interest on national debt will be in the trillions if you don't cut this shit out.

[Anonymous No.49686279]

>>49686088
jimmy carter administration continues to age like the finest wine. truly bewildering how reagan got all the credit, but maybe that's just boomerism ideology at its finest

[Anonymous No.49686290]

>>49686199
>we appreciate the massive army and the 11 aircraft carriers
the entire military budget is a small expenditure compared to what we spend on Education/healthcare/welfare.

[Anonymous No.49686368]

>>49686088
>>49686138
20% then is like what 6% would be now.

[Anonymous No.49686466]

>>49686088
Just dropping in to mention...
> lurking since fappening
> nearly every day... boomers had life so easy
> nearly every newspaper today...
> things are so bad, they're almost as bad as when boomers were your age.

Not asking for pity, simply pointing out that the grass is usually greener on the other side.

[Anonymous No.49687724]

>>49686138
But with inflation it's already like -10% it's just scaled around the inflation.

[Anonymous No.49688036]

>>49686088
larry summers is a kook. he’s been more wrong that right on his predictions. ignored

[Anonymous No.49688069]

>>49686279

[Anonymous No.49688104]

>>49686199
i dont understand why the US doesn't just refuse to pay its national debt and declare that their slate is clean, and threaten to nuke anyone who challenges them on it. why wouldnt that work?

[Anonymous No.49688152]

Larry Summers ineptitude cost Harvard $1.8 billion.

[Anonymous No.49688225]

>>49686290
this is laughably wrong. we spend at least 10x more on defense than anything else combined

[Anonymous No.49688271]

>>49686088
so sit in money and buy bonds when they hit 25%?

[Anonymous No.49688347]

>>49688104
it might work, though it is a bit of an extreme move

[Anonymous No.49688366]

>>49686290
>the entire military budget is a small expenditure compared to what we spend on Education
And yet your people can't tell apart a continent from a country or a state. Just Lmao

[Anonymous No.49688401]

>>49686088
It's not rocket science. To kill inflation you have to kill demand.

[SAGE No.49688454]

>>49688225
Welfare is the biggest drain, military is 2nd.

[Anonymous No.49688468]

>>49686088
I’m erect for the chance to buy 30 year 25% annual bonds whoa mama

[Anonymous No.49688485]

volker was a retard. he rose interest by a 800 bps and the next month lowered it by 500 bps. he did dumb stuff like that

[Anonymous No.49688497]

>>49686290

[Anonymous No.49688499]

>>49688104
The US is not the only country with nukes. And you are dependent on china's manifacturing.

[Anonymous No.49688501]

>>49688225
problem is all of stuff thats off the books that cant be accounted for
makes analyzing the overall defense budget hard

[Anonymous No.49688512]

>>49688225
Retard

[Anonymous No.49688606]

>>49688104
Of the $30 trillion or debt the US government has, about $7 trillion is held by foreign governments & investors. The biggest holder of debt is the Federal reserve itself, at $ 9 trillion or so; the Social Security fund, military pension fund, state and local government pension funds all hold trillions more, with the rest held by American corporations and citizens.

[Anonymous No.49688641]

>>49688606
Just want to add, I would be all for nuking the federal reserve, but good luck using the military to clear out the debt owed to the military retirement system.

[Anonymous No.49688715]

>>49688104
>refuse to pay back treasuries
>the most "safe" investment in existence
>millions of investors get fucked
>literally trillions of dollars disappearing
>US government loses all credibility
>US investors who got fucked riot and bring back guillotines
What about this sounds good? Most of our debt is held in the US, not by China. The US would have to threaten to nuke itself

[Anonymous No.49688774]

>>49686290
It's actually the opposite. Especially since the military covers all of those for a not-insignificant portion of the country, between servicepeople and contractors.

[Anonymous No.49688824]

>>49686279
lol you're funny

[Anonymous No.49688874]

>>49686466
80s stagflation isn't really comparable to Millennials' situation. Boomers were just starting to see the crumbling of the American dream, Millennials have lived it since 9/11. There concerns were losing things we could never afford to have in the first place. Their response wasn't trying to build alternative structures (however misguided ours have been), it was to tear down the ones others had built and to elect Reagan.

[Anonymous No.49688903]

>>49686290
National defense (haha), social security, medicare/medicaid, and interest on the debt together exceed all Federal revenue. You could eliminate every other Federal program, department, and employee and STILL not balance the budget.

[Anonymous No.49688996]

>>49688512
If you'd actually read the chart, you'd notice that they did a bunch of number fudging, including putting in stuff that's highly abnormal (high UI, PPP, etc) and running veterans' benefits into Other Discretionary and Non-Defense. When you cut out "literally paying for Boomers' retirement", the biggest expense is Defense, by a long shot.
>>49688454
SS/MC and retirement benefits in general aren't welfare. Neither is UI. Those are all entitlements you get paid out from because you paid into them.

[Anonymous No.49689008]

>>49688497
the most important post in the thread lol.

[Anonymous No.49689016]

>>49688225
Are you one of those retards who looks at the discretionary budget and thinks that america puts all its spending into the military?

[Anonymous No.49689045]

>inflation isn't so bad if you remove [list of items/assets required for living]
all so tiresome

[Anonymous No.49689047]

>>49686199
>take a look at the fact the interest on national debt will be in the trillions if you don't cut this shit out.
This is precisely why they won't raise rates.
Every 1% increase in rates corresponds to 200 billion more dollars necessary to service the debt. It's gonna be 3% max

[Anonymous No.49689103]

>>49686290
um, the exact opposite is true
eat shit, gaslighter

[Anonymous No.49689226]

>>49688497
>Source: blogspot.com
Hm.

[Anonymous No.49689267]

>>49689016
2010 was 12 years ago retard,
>inb4 we need 800 billion for the military and another 40 billion for Ukraine

[Anonymous No.49689349]

>>49688715
>what about this sounds good
The guillotines sound pretty good nowadays

[Anonymous No.49689352]

>>49688606
Basically the only way out is hiking taxes by several percent and either letting social security and pensions default or slashing them in half and discontinuing them for people under 40.
Fucking boomers and their fucking pyramid scheme.

[Anonymous No.49689608]

>>49689267
Then look up some more recent stuff, and you will see federal spending on healthcare alone far exceeds military spending. Here is a link that will show you 2021 spending data.

https://datalab.usaspending.gov/americas-finance-guide/spending/categories/

[Anonymous No.49689761]

>>49688225
Defense is only $700b and most of that is basically a jobs program.
Welfare, medicare and medicaid, social security etc. is a few trillion

[Anonymous No.49691036]

>>49686088

Larry Summers black pill you say? The same person who said "MAGA supports" was the main driver for inflation? continuing the narrative dumb Chud and poor fags, just buy the 60k electric vehicle that we want you to buy and everything will be better

[Anonymous No.49691192]

>>49688715
>Offers to convert actual value to a new currency, resetting the debt to zero.

They can make what they want. Money doesn't exist.

[Anonymous No.49691368]

>>49689267
so easy to find
just google it you lazy fuck

[Anonymous No.49691762]

>>49688104
US politicians are owned by the creditors

[Anonymous No.49691817]

>>49686466
fucking hell how does it always come back to "awwwww pooor wittle boomers"

[Anonymous No.49691894]

>>49688225
Discretionary and Non-Discretionary budget.
We could have 4 militaries for the cost of our entitlement spending.

[Anonymous No.49691903]

>>49686138
This. Anyone who compares what's happening now to what happened in the 80s is a fucking retard.

>Huuuurrrr we may raise interest rates so much we have a sovereign debt crisis!
>duuuurrrr it's just like the 80s!

[Anonymous No.49692011]

>>49691368
>"defense"
>US never had to defend against an invading force, it only invades others
Dishonest

[Anonymous No.49692130]

>>49686199
The biggest government expense is literally gibs for niggers and social security/ Medicaid nothing else comes close

[Anonymous No.49692155]

>>49692011
Yes, "defense" refers to the American thalassocracy that guarantees global trade routes and US hegemony over the entire planet. America has been a global empire since the end of WWII and that takes a shitload of resources.

[Anonymous No.49692153]

>>49688225
The biggest singular expense is literally insulin for diabetic niggers kys or learn

[Anonymous No.49692213]

>>49691192
Others have tried
“Sorry shitbux 1 caused us to go into default, here let us pay you back with shitbux 2”
No thanks, we only want all your farmland, real estate, and gold. And you have to limit your army to 30,000 and wear panties.

[Anonymous No.49692327]

>>49689226
literally has sources on 2 of those. the other one is from some leftist news article. probably Time.

[Anonymous No.49692508]

>>49689103
wrong retard
https://usdebtclock.org/
defense spending is almost half medicaid.

[Anonymous No.49693346]

>>49688104
Because no one will buy Luna 2.0 and Luna classic will be debased to nothing

[Anonymous No.49693881]

>>49686290
The military is welfare
>>49688104
Because their economy would be in the shit, every investor broke, usd would be worthless and nobody would take US debt again

[Anonymous No.49694073]

>>49688715
Investors rioting in the street? The only people who riot nowadays have zero investments.

[Anonymous No.49694330]

>>49686466
boomers were still a 90% White generation.
we are now ~50% and the CRA/affirmative action legalized discrimination against Whites fucks us over in a way boomers never had to deal with it.
It will cause civil war or balkanization if it isn't fixed.
War and death are better than life as a hated second class citizen.
pic rel is how it was in russia.
Germany had the same problem and a civilwar started with the original antifa terrorists. That one ended with the terrorists dead but also 2 million regular citizens.

trannyjannies civilwars and communism make the markets go to 0

[Anonymous No.49694556]

>>49688497
fuck never thought of it that way

[Anonymous No.49694600]

>>49686290
Are you retarded?

[Anonymous No.49694705]

>>49688104
Anon dollars are ‘created’ through debt. Specifically the federal reserve in the case of the US. It simply doesn’t work like that especially because the Fed owns the US. The debt doesn’t even matter because of this because you’re just lending to yourself. It’s just a means to keep the masses under control.

[Anonymous No.49694720]

>>49694330
Holodomor followed by the race war everyone is fighting but Whites going hot.

https://www.zerohedge.com/markets/another-food-plant-erupts-flames

[Anonymous No.49694728]

>>49686199
Tell that to all the countries that depend on us for defense.
1 US aircraft carrier has the same number of fighter jets as the entire German air force. If the US said it was staying NATO but was pulling all of our troops out of every country, every country that has a US military base would be offering us anything to stay.
Also we spend 2 trillion dollars a year on health care and social security in the US than we do on defense.
https://www.cbo.gov/publication/56324

[Anonymous No.49694729]

>>49688454
Military is welfare

[Anonymous No.49694787]

>>49694600
https://www.cbo.gov/publication/56324
2019
Medicare/Medicaid - 1.053 trillion dollars
Defense - 676 billion dollars

The US spends around 330 billion dollars more on health care than we do on defense.

[Anonymous No.49694874]

>>49686199
reminder that 30 trillion disappeared after 9/11

[Anonymous No.49695058]

>>49694330
Meh.
Except the rural areas are still 95% white.
What are they gonna arm city rats and send them out?
Seems as likely as training desert rats to shoot.

[Anonymous No.49695089]

>biz goes into endless rant into national debts
I'm just going to say it you gotta stop overthinking it. The economy is just highschool. The popular kids became executives/CEO through social skills and pump their bags with debt and the lesser of the popular kids become middle management to enforce this debt structure. /biz/ is just the weirdos of the high school of varying degrees. At the end of the day the school staff (fed and government) run the school regardless. Either the weirdos rise up (bitcoin becomes the standard) the popular kids hangover car crash (mass suicides and violence) or the school staff higher ups close the school (dollar gets rugged).

[Anonymous No.49695155]

>>49688104
This is in the top 3 common brainlet takes. The only way the entire US economy can function under reserve currency status is if people *continue* buying your debt, you retard. It's bought and sold, there isn't some Chinaman out there who's patiently waiting for Uncle Sam to return his money someday.

[Anonymous No.49695173]

>IT'S OVER
>still here
Getting tired of your shit, OP

[Anonymous No.49695184]

>>49686088
>>49686138
What if this means Volker raised rates too high and he actually only needed 9%?

[Anonymous No.49695214]

I'm surprised how clueless most posters ITT are
1) The debt is deliberate
2) The inflation in deliberate
3) The bankers and pollies doing this to the country (and in many other countries) are benefiting from everyone else's suffering.
Learn about the history of the federal reserve, the IMF, the global reserve banking scheme, and the debt based economy.

[Anonymous No.49695215]

>>49688104
that is what we are doing, it's just in slow motion

[Anonymous No.49696356]

>>49686088
Why do you give a shit about GDP unless you are some elitist pedo Billionaire. The regular folks are suffering, high rates is what is needed.

[Anonymous No.49696484]

>we just need to cut the niggers gibs bros

Have fun watching every city with a moderate nog population be razed overnight LMAO

[Anonymous No.49696508]

What is going to happen is inflation is going to "peak" at some point. Lets say it peaks at 8-9 then goes down to 4-5%. And that will be considered "low." So anytime the market is too low they will turn on the money printer until inflation heads up again. Looks like that's what happened in the 70s too. You see inflation just stair stepping up. And the stock market just jigsawing but never really fully collapsing. By the time Volcker came with the big dick 20% rates the worse crashes were already over. Then that was the peak and everything fucking mooned for 20 years.

I am planning to just load up any time the stock market drops 20, 30, 40, and 50%, then at -50% go pretty much all in. And then just sell at 80, 90, 100% of ATH. I'll do this for the next decade or so or until inflation gets better.

[Anonymous No.49696553]

>>49688225
Look up how "discretionary" works in the US budget.

[Anonymous No.49696562]

Larry's a Jew, but he's been shitting on the Fed for the last 18 months saying that this crisis was inevitable, so he's not wrong. He also got fired from Harvard for telling the truth about women, so he's arguably based.

[Anonymous No.49696603]

>>49695214
They need to be dragged out of their homes and put into camps.

[Anonymous No.49696661]

>>49695058
have you not seen the people marching from south america? theres 200k a month now and none of them care about laws. an american prison is a luxury resort to them

[Anonymous No.49696688]

>>49694600
>>49689103
>>49688774
leftoids getting absolutely btfo
don't believe everything you read on cnn niggers

[Anonymous No.49696952]

>>49696562
ooh yeah that is pretty based

[Anonymous No.49697076]

>>49694073
no, but they pay and organize people's riots

[Anonymous No.49697152]

>>49686088
It's impossible to pay all debts. Our current monetary system works in such a way that there is more debt than there is money to pay for it. Like debt = money + interests.

Watch the movies "Money as Debt", which were made in 2006 to 2010.

[Anonymous No.49697250]

>>49688104
The majority of US treasuries are held by the Federal reserve, Medicare and pension schemes. The only countries that purchase significant amounts of US debts do so to use as collateral to nuke their own currency and make a favourable exchange rate for exports (China and Japan)

[Anonymous No.49697360]

>>49692011
The best defense is a good offense

[Anonymous No.49697531]

Hmm if only we could learn from what Volcker did wrong to mitigate both inflation and the recession somehow.

Oh well.

Summers is like 100 years old btw so even with magic baby blood or however these fuckers stay alive so long it's quite literally "not his problem". But hey I can go another 10 years getting fucked in the ass.

If you're a zoomer take note of the economic shitfest of the early 2010s because that's gonna be the next few years again. But at least our boomer parents/grandparents got to retire :D

[Anonymous No.49697560]

>>49686138
They will do it then say we need to import 50 million immigrants to fix it, trust me.

>>49686199
The US national debt is high specifically because it's also your debt, big brain. The USA has basically offloaded 30 trillion annual gdp to the rest of the world through FDI.

[Anonymous No.49697584]

>>49688366
European countries aren't countries. Russians understand American feelings the best.

[Anonymous No.49697627]

>>49686088
There is no monetary inflation, everyone is getting squeezed by higher commodity prices. Even the US government.

If nothing is done, you can see real economic failure. I'd rather have a depression or recession instead.

[Anonymous No.49697636]

>>49688996
>When you cut out "literally paying for Boomers' retirement"
I like that SS will be bankrupt by 2035 without tax raises, but that would mean most boomers would lose SS except the oldest ones. So we'll probably see massive tax increases on gen y/zoom/alphas.

Poor alphas. At least Y and Z know the score and how fucked things are. Alphas are just little kids playing fortnite or whatever and then they'll have to pay their 90 year old great-grandparents' retirement lol.

[Anonymous No.49697644]

>>49686199
>pay down your fucking national debt
This isn't your mom's car loan. Not how it works.

[Anonymous No.49697902]

>>49695089
Im gonna have to second this. With the endless national debt discussions coming and going i always end up with the same conclusion: the blockchain is far more fair than what the fiat system could ever accomplish and we will be doing the world a favor by overthrowing it. It all sums up to that. Be it by BTC, ETH or fucking VINU, i'd rather have a memecoin as the form of value than live another one hundred years of central bankers

[Anonymous No.49698047]

>>49686088
nothing is going to happen, nothing ever happens chuds

[Anonymous No.49698058]

>>49695058
>What are they gonna arm city rats and send them out?
Yes. That's what they did in Russia
>Jew: those greedy white farmers are hoarding all the food. Go kill them!
>starving goyim: yes master
>urbanites die
>jew: send the second wave!
>more urbanites die
...
>jew: send the ninth wave!
>farmers out of ammo, overwhelmed
>jew now has more land and fewer mouths to feed

[Anonymous No.49699650]

>>49697644
Yes it is retard