Covid Relief Spending

[We'llBeDoneIn15Minutes]

You always redirect and pivot to other points. I guess if you vote for someone that means you like them??? So you must love Biden and Hillary? FYI, I would vote vote for a vegetable over Biden (sorry, bad comparison). Just bc I vote against someone doesn't mean I like the other choice.

To answer your question, which you still don't do yourself, I voted Trump in the presidential elections but never in the primary. Was Biden your #1 choice? Does that mean you didn't vote for him over Trump? (idk, maybe Biden was your #1)

Have you figured out why you never answer questions and discuss matters the way you do? Is it subconscious or purposeful? It is littered with Saul Alinsky tactics.

It is a fact that you would not do the same work for 10% of your pay. FACT

You're basically banging your head against the wall and expecting a different outcome each time. We've all been down that road. Just make good use of the ignore feature and move on 😉

---

Members don't see this ad.

 

[BobLoblaw78]

I really don't care whether you "like" him or not. That part is actually the least relevant unless of course you're voting for who you'd rather take to the prom.

Your nonsensical Randian verbal diarrhea about "fakers" speaks to the notion that you at least nominally care about economic, business, and leadership competence. You go on at length about all the lowlifes you think are leeching from society, but yet you remain hilariously oblivious to the fact that you voted twice for someone who was born rich, inherited 400 million from his dad, bankrupted multiple, multiple businesses, defrauded a charity, defrauded trump "university", stiffed multiple contractors, avoided paying taxes for 15 years, and
took his company public before losing $647 million and leaving all the shareholders with the bag before the stock was delisted.

And of course all that was before he finished his disastrous one-term presidency with a bungling covid response which made the economic downturn worse and lost his party the WH, the Senate, and the House.


So, you can see how someone would have to have multiple screws loose to think that you know even the slightest about what you're talking about when you refer to anything related to macro, jobs, employment, the minimum wage, who should be economic winners, and who is actually a "faker"

You, sir, are an unconscionable liar. And with the degree you do it, I would rather believe you are a big hairy troll trying to get a rise then someone that confabulates the way you do. Good day. I will leave you be and trust people's intelligence to see through your Saul Alinsky tactics. (you definitely ratcheted up the attacks when I spoke truth). I dare you to answer one question.... where did I call someone a "lowlife"? You will continue to avoid answering questions but demand answers from others. I used the term fakers exactly how it should be used. I said I wanted help for the truly unfortunate and needy but not those who were truly faking to manipulate the system for gain. It is apparent you don't like truth or even a passing attempt to appear truthful.

To stone, troll!

 

[vector2]

We’re a bit out in the weeds, but just to summarize some points which the trolls have not disputed:


1. The federal minimum wage has not come close to keeping up with inflation. It is $7.25 today. Inflation adjusted, the federal minimum wage in 1968 was $10.54.

2. The people who work minimum wage jobs aren’t just teenage burger flippers. 90% are over 20. 37% are over 40. One-third have children. A majority of them work full-time.

3. Americans are more productive than ever as assessed by GDP. Americans work more hours than ever. This has been despite declining wage growth. Furthermore, CEO:average worker pay used to be 25 : 1. It is now 300 : 1.

4. Raising the minimum wage would increase wages for 17 million Americans. Almost a million Americans would be lifted above the poverty level. There could be job losses, but there are methods to mitigate these losses.

5. There already exist empiric examples in places like Seattle, San Francisco, NYC, DC, San Jose etc which have implemented a $15 minimum wage and have suffered no lasting untoward negative consequences vis a vis unemployment. They may not necessarily be generalizable to everywhere but they are good templates from which to start.

6. Until more employers are forced to pay a living wage and benefits, the taxpayer will continue to subsidize food, healthcare, childcare, and retirement for these workers.

 

[vector2]

You, sir, are an unconscionable liar. And with the degree you do it, I would rather believe you are a big hairy troll trying to get a rise then someone that confabulates the way you do. Good day. I will leave you be and trust people's intelligence to see through your Saul Alinsky tactics. (you definitely ratcheted up the attacks when I spoke truth). I dare you to answer one question.... where did I call someone a "lowlife"? You will continue to avoid answering questions but demand answers from others. I used the term fakers exactly how it should be used. I said I wanted help for the truly unfortunate and needy but not those who were truly faking to manipulate the system for gain. It is apparent you don't like truth or even a passing attempt to appear truthful.

To stone, troll!

Hey, how come you picked Bob Loblaw for a handle? With the way you see minimum wage workers plus your trump fandom you’re def more a Lucille or Lindsay

 

[nimbus]

If destitute people can migrate on foot from Central America to the USA in search of a better job, I don't see why people in Alabama can't migrate to Maryland for a better job too, if Maryland offers higher wages.

The people who arrive at our border are a select group.

 

[pgg]

if people want free healthcare then it should be a priority to them. That means they shouldn't smoke, drink or be obese. You can't intentionally undermine your health and demand that someone else fix it for free.

Unless you're a kid, or have a broken chromosome, just about ALL medical problems are self-inflicted to a large degree. Most of us would benefit from eating better, exercising more, driving slower, not playing contact sports, having better posture and using ergonomically correct office equipment, the list is endless. Whether or not a person "deserves" their injuries or health problems probably isn't a factor we should be considering in gatekeeping their healthcare.

Cost, and who pays, is a separate issue.

 

[pgg]

I mean, sure, I guess it’s theoretically possible for every dissatisfied person to pack up all their stuff, uproot their family, and leave all the people they know behind in the effort to make $5 more per hour, but personally, I think it makes more sense to federally compel either a higher nominal or COL adjusted MW. Many states have already proven beyond a shadow of a doubt that workers and workers’ rights are entirely economically expendable.

I'll be third in line arguing that the whole "state's rights" mantra is mostly bull**** cover for abusive, racist, and classiest policies ... but if we don't leave some things up to state and local government, what's the point of having them at all?

I'm just saying the actual barriers for residents of a state to effect change in that state, or move 100 miles to another state, are pretty low when you consider what people outside the USA have to do.

Were not talking about states allowing factories to employ 6-year-olds to polish machinery because they have 10 small fingers, and hey, whether they keep all 10 or just 7 doesn't affect their ability to work. We're splitting hairs over the threshold to define a living wage - something that has tremendous regional variation. If THAT isn't squarely in the jurisdiction of states to manage, nothing is. The purpose of the federal government isn't to overrule the perceived wisdom of state leaders elected by residents of that state, no matter how well intended.

 

[Southpaw]

I'm not sure how anyone can have a conversation on healthcare, straight faced and honest, and say that healthcare is the responsibility of the person as most issues are self inflicted. While correct on the surface, it completely absolves all insurance companies, hospitals, and others involved of the exorbitant costs placed on the person for the cost of care.

While I don't enjoy taking care of unhealthy people who eat too much and exercise to little, it's absurd to think they and they alone are responsible financially for the delivery of healthcare, regardless of cost, in this country. And yet that is the natural conclusion to all of these conversations with rightward thinking Americans.

Insurers should not be allowed to charge whatever they want for basic healthcare plans. Also, those plans should provide actual healthcare coverage and not just scratch the surface of needed coverage. Hospitals should not be allowed to charge whatever they want for the delivery of care. And yet, for the most part, this is what is allowed currently by our government mostly due to lobbying.

But, and this is the important part, if people are so dumb as to elect those to office who have no interest whatsoever in actual service to the people who elected them, then I guess in the end it does fall on the shoulders of citizens. I do think it's imperative that our government hold hospitals and insurers accountable and not continually personally bankrupt people for basic healthcare, but I guess I'll continue to shrug my shoulders and move on about my day because certainly not enough people care to do something about it. And not enough people care to NOT elect the same idiots to office who care more about self-preservation than actual service to public need.

 

[vector2]

I'll be third in line arguing that the whole "state's rights" mantra is mostly bull**** cover for abusive, racist, and classiest policies ... but if we don't leave some things up to state and local government, what's the point of having them at all?

I'm just saying the actual barriers for residents of a state to effect change in that state, or move 100 miles to another state, are pretty low when you consider what people outside the USA have to do.

Were not talking about states allowing factories to employ 6-year-olds to polish machinery because they have 10 small fingers, and hey, whether they keep all 10 or just 7 doesn't affect their ability to work. We're splitting hairs over the threshold to define a living wage - something that has tremendous regional variation. If THAT isn't squarely in the jurisdiction of states to manage, nothing is. The purpose of the federal government isn't to overrule the perceived wisdom of state leaders elected by residents of that state, no matter how well intended.

For me, I'd rather not use a desperate El Salvadoran as the standard for how easy or how difficult it is to move across the country and change jobs. And really, the fact that healthcare is tied to employment means the US is among the worst of the OECD when it comes to job mobility. Hell, my sister is a high 5, low 6 figure earner with 3 masters and even she was in a tough spot when she and her husband wanted to move, so I sympathize with someone making $7.25 an hr when they say moving is difficult.

You're right that there is tremendous regional variation, but many states are without a doubt meeting the lowest common denominator. States can do whatever they want to the higher side, but yet why is almost every red state exactly $7.25? That tells me they'd go even lower if it wasn't for the minimum wage, which honestly in this day and age is an absurdly gilded age prospect. So, if these states are pegging themselves to the federal minimum wage instead of using the FMW as a jumping off point from which to go higher on their own, then I think we're compelled to raise it.

 

[chocomorsel]

I'll be third in line arguing that the whole "state's rights" mantra is mostly bull**** cover for abusive, racist, and classiest policies ... but if we don't leave some things up to state and local government, what's the point of having them at all?

I'm just saying the actual barriers for residents of a state to effect change in that state, or move 100 miles to another state, are pretty low when you consider what people outside the USA have to do.

Were not talking about states allowing factories to employ 6-year-olds to polish machinery because they have 10 small fingers, and hey, whether they keep all 10 or just 7 doesn't affect their ability to work. We're splitting hairs over the threshold to define a living wage - something that has tremendous regional variation. If THAT isn't squarely in the jurisdiction of states to manage, nothing is. The purpose of the federal government isn't to overrule the perceived wisdom of state leaders elected by residents of that state, no matter how well intended.

TBF, speaking as an immigrant, our mindset is different when compelled to move. And it comes at a large familial cost but obviously a better financial cost. We know that our countries and governments aren’t providing us the essentials we need. The problem is in this country, even with the financial disparities, people aren’t starving to death or dying from illness/injury at the rate they do in other countries. The poor peoples norms as bad as they seem to us, still don’t compare to the poor peoples’ norms in third world countries. I think that many poor Americans are conditioned to think that “this is the way it is”. I noticed this a lot in Alabama in the poor population. They know the segregation is there, they know they’re poor, but they have this mentality of “well this is how it is, and always been in the South.” I bet this happens with the coal miners, the factory workers, etc. It’s normalized, it’s accepted, and keeps people stagnated because they have been told since they were little that they live in the “greatest country in the world” and trust their government to provide.

I’m probably not explaining this correctly, but I feel like many poor White people in this country are brainwashed to accept their status since they live in the great USA and continue to vote for people who could give a rats ass about their poverty; the poor Blacks just accept that they’ve always been treated unfairly and will always be poor and many don’t bother voting because they don’t trust it will make a difference; the other cultures have a lot of more recent immigration and a different drive and haven’t lost that will or haven’t bought into the whole “it is what it is” mentality.

We all got to realize that coming from the super wealthy and the large corporations, there is an incentive to keep people poor and ignorant in this country. In any country really.
End of rant.

 

[anbuitachi]

bidens tax hike is expected to raise 2.1T in the next 10 years. Covers the covid relief bill!

 

[chessknt]

I don't think blaming the electorate is useful when you have such a broken political system at the helm. Between the near endless amount of lobbying money and fierce tribalism of the parties (look at the public crucifixion of the Republicans that voted against trump) it is functionally impossible to think that voting could affect some sort of change at the federal level. Their votes are all lockstep with the party even though it is nonsense to think that federal priorities for a progressive or conservative in California are always the same as for one in Maine (or Ohio or florida etc) yet somehow their votes always align.

 

[anbuitachi]

TBF, speaking as an immigrant, our mindset is different when compelled to move. And it comes at a large familial cost but obviously a better financial cost. We know that our countries and governments aren’t providing us the essentials we need. The problem is in this country, even with the financial disparities, people aren’t starving to death or dying from illness/injury at the rate they do in other countries. The poor peoples norms as bad as they seem to us, still don’t compare to the poor peoples’ norms in third world countries. I think that many poor Americans are conditioned to think that “this is the way it is”. I noticed this a lot in Alabama in the poor population. They know the segregation is there, they know they’re poor, but they have this mentality of “well this is how it is, and always been in the South.” I bet this happens with the coal miners, the factory workers, etc. It’s normalized, it’s accepted, and keeps people stagnated because they have been told since they were little that they live in the “greatest country in the world” and trust their government to provide.

I’m probably not explaining this correctly, but I feel like many poor White people in this country are brainwashed to accept their status since they live in the great USA and continue to vote for people who could give a rats ass about their poverty; the poor Blacks just accept that they’ve always been treated unfairly and will always be poor and many don’t bother voting because they don’t trust it will make a difference; the other cultures have a lot of more recent immigration and a different drive and haven’t lost that will or haven’t bought into the whole “it is what it is” mentality.

We all got to realize that coming from the super wealthy and the large corporations, there is an incentive to keep people poor and ignorant in this country. In any country really.
End of rant.

a lot of the poor probably think they live in the great USA, and their condition must still be better than the rest of the world!
funny bc i just watched this video yesterday

 

[chocomorsel]

a lot of the poor probably think they live in the great USA, and their condition must still be better than the rest of the world!
funny bc i just watched this video yesterday

Wow! Speaks what I have been thinking for the past decade or so. I too was originally brainwashed at how rich and good this country was at one point.

 

[Lawpy]

Wow! Speaks what I have been thinking for the past decade or so. I too was originally brainwashed at how rich and good this country was at one point.

Economic inequality and so many protections and tax benefits for huge corporations really suck.

 

[We'llBeDoneIn15Minutes]

If people are so dumb as to elect those to office who have no interest whatsoever in actual service to the people who elected them...

I would love to this extensive list of politicians you believe are dedicated more to service than simply being reelected, having power, and reaping benefits of the job 😂

 

[Southpaw]

I would love to this extensive list of politicians you believe are dedicated more to service than simply being reelected, having power, and reaping benefits of the job 😂

It'd be short, which was my point. That's the problem.

 

[kmurp]

How to Invest In Stocks: A Step-by-Step Guide for Beginners

Want to get started investing in stocks? Here are 6 simple steps to follow, including helpful resources.

www.businessinsider.com

I like solid dividend paying growth stocks and US multinationals. Besides Equities investing in materials and industrials are good as well. Gold, precious metals are only good investments with very high inflation. I hope that doesn't occur and the inflation rate stays below 4.5%.

TIPS

 

[deleted126335]

One of the most popular measures of the money supply used by economists is M1. It consists of the most highly liquid assets. In other words, the most easily exchangeable assets are used as payment for goods and services.
As Trading Economics data shows, the Fed has created 39% of all the “dollars” in the economy in 2020. To put it on its head, in 2020 the Fed has created more money than in almost a hundred years of its existence.
Monetary policy effectiveness has its boundaries.
As good as it might seem at first glance, creating money “out of thin air” doesn’t bring prosperity.
View attachment 333003

True but incomplete. There is no wage inflation. Most of the money has been flowing into financial assets. Not ordinary people's pockets.

 

[gasdoc77]

TIPS

Tips are garbage. The fed will always under- acknowledge inflation so that the government can keep borrowing costs lower than real inflation (so they can pay off debt with tomorrow's less valuable money). The spread between what tips will EVER pay and true inflation is where you will continually lose purchasing power.
So your resultant loss of purchasing power will be funding these government obligations.

 

[nimbus]

Some of the COVID relief money will end up in collectibles. Seems like all asset classes are in bubbles at the moment. Lots of money with nowhere to go.


“John Demsey, the executive group president of the Estée Lauder Companies, voiced that concern even as he admitted a primary quarantine pastime.
“All I do is go through watch porn,” he said. “I’m selling watches, I’m buying watches. It’s crazy. I have no reason right now to buy a watch. 😂 I’m at home all day at a computer. Time is staring me right in the face. What reason do I have to look at my wrist? But I want a tangible sign of something, so I’m looking at watches.” And many other people are too.”

Here’s How Bored Rich People Are Spending Their Extra Cash (Published 2021)

The value of collectibles — like coffee tables, whiskey, Air Jordans and Pokémon cards — has soared.

www.nytimes.com

From Crypto Art to Trading Cards, Investment Manias Abound

 

[We'llBeDoneIn15Minutes]

Stop The Insanity!
Biden Team Preparing Up to $3 Trillion in New Spending for the Economy

 

[nimbus]

Stop The Insanity!
Biden Team Preparing Up to $3 Trillion in New Spending for the Economy

Nice! We’re gonna gentrify the whole country. It’s about time we fixed this place up. The United States will be dope.

 

[deleted162650]

Nice! We’re gonna gentrify the whole country. It’s about time we fixed this place up. The United States will be dope.

Uhh, I think you mean dope AF!

 

[We'llBeDoneIn15Minutes]

Ok, this is quite a bit terrifying. I admit being a televising skeptic, so if these numbers are a little off they won't be off forever. Inflation is coming down the pike sponsored by endless debt spending. There is no Santa Claus, Easter Bunny, or free lunch.

 

[thinkorswim]

Ok, this is quite a bit terrifying. I admit being a televising skeptic, so if these numbers are a little off they won't be off forever. Inflation is coming down the pike sponsored by endless debt spending. There is no Santa Claus, Easter Bunny, or free lunch.

View attachment 334050

A $3 trillion bill with policies you don’t agree with isn’t causing inflation. The easy monetary policy of the Fed for the past decade is finally causing inflation. To be honest, I’m surprised that it didn’t happen sooner.

 

[nimbus]

A $3 trillion bill with policies you don’t agree with isn’t causing inflation. The easy monetary policy of the Fed for the past decade is finally causing inflation. To be honest, I’m surprised that it didn’t happen sooner.

If they included housing in the CPI, which they should because everybody needs a place to live, inflation would have shown up a long time ago.

 

[deleted875186]

percent of population completed college degree is <40%...

i agree with min wage increase. just not to 15$

We all know min wage is not a living wage and should be a platform for college/HS students to help pay for extras living with parents/supplementing with student loans.

But if someone out of college after 5 yrs is still making min wage, then its on them. Don't flip burgers for Mcdonalds as your first job and 5 yrs later still flip burgers. Just because they did not improve themselves and continues to flip burgers should they suddenly have a living wage.

No reason for a HS student to earn a living wage..... oh wait, these HS students likely will never get a job b/c who is going to pay them $15/hr with essentially zero skills?

This likely will be a moot point b/c we are moving towards a more liberal/progressive voting block and we will have a $15/hr min wage, higher taxes, free college, and universal basic income. I am hopeful that I will not be part of the educated workers paying substantially higher taxes just because we feel everyone should be entitled to a good standard. I will disagree all day long that someone who failed out of HS should not be entitled to making $15/hr flipping burgers. There is no reason they should be making 30K/yr when they did not put the work and failed out of HS.

Burger flippers are essential workers, they deserved to be pid a fair wage for work, doesn’t matter that they did or did not complete high school.

I agree $15 was an overly optimistic target for a minimum wage, but all the arguements about how terrible $15 minimum will be are ridiculous and speculative, businesses will be fine, prices go up modestly for services, high earners continue to enjoy their life and those making minimum wage will have a little less crappy life. Businesses have exploited low paying workers, these people work hard at ****ty jobs.

 

[We'llBeDoneIn15Minutes]

A $3 trillion bill with policies you don’t agree with isn’t causing inflation. The easy monetary policy of the Fed for the past decade is finally causing inflation. To be honest, I’m surprised that it didn’t happen sooner.

The Debt, Fed, and Math couldn't care less what spending you or I prefer. They are all tied together. Where do you think the money for the 3 trillion will come from? You got it, same place as the last spending bonanza, the Fed.

The debt can't afford to raise the 3 trillion the old fashion way of letting the market decide; the interest rate on it would have to rise substantially to draw in enough investors.
As Al Davis used to say,
Just Monetize Baby!!

 

[deleted162650]

Ok, this is quite a bit terrifying. I admit being a televising skeptic, so if these numbers are a little off they won't be off forever. Inflation is coming down the pike sponsored by endless debt spending. There is no Santa Claus, Easter Bunny, or free lunch.

View attachment 334050

Much of the price increases on commodities has come from supply line disruption due to COVID creating significant supply/demand mismatch. It’s not necessarily the result of inflation (although I agree inflation is coming).

 

[BLADEMDA]

As expected the Infrastructure bill isn't about infrastructure as most of the spending is for the progressive agenda like climate change

Joe Biden’s $2 Trillion Infrastructure Bill Is Nothing Short of a Disaster

Know this: If this ramshackle, misnamed, blunderbuss of a bill is adopted, inflationary pressures will build, and if federal debt interest rates start to rise, anyone capable of passing out of a grade one arithmetic class will run for what the left used to call the “commanding heights” of the...

nationalinterest.org

 

[emergentmd]

Anytime the gov tries to change the economy, economics win out at the end. It may feel good with artificially raising in wage to $15 or print 3 trillion but the piper will be paid. If not know then in the near future.

I have not heard a liberal policy wonk tell me why $15 is so good when that would put the US at the top level and many 1st world countries way behind.

Keep printing. Venezuela say hello.

 

[nimbus]

FDR: From Budget Balancer to Keynesian - FDR Presidential Library & Museum

www.fdrlibrary.org

 

[deleted126335]

FDR: From Budget Balancer to Keynesian - FDR Presidential Library & Museum

www.fdrlibrary.org

The government is very good at collecting and redistributing money. They are going all in with this administration on both fronts.

 

[nimbus]

March 31, 2021

President Joe Biden today unveiled a new $2 trillion infrastructure proposal titled The American Jobs Plan. The statement introducing the plan notes that the United States currently ranks 13th in the world for the quality of our infrastructure, and that our public domestic investment as a share...

heathercoxrichardson.substack.com

 

[nimbus]

The government is very good at collecting and redistributing money. They are going all in with this administration on both fronts.

Was the government intervention helpful or harmful to most Americans?

 

[deleted162650]

Was the government intervention helpful or harmful to most Americans?

I think it’s waaaaaaaaaay to early to make that determination.

 

[nimbus]

I think it’s waaaaaaaaaay to early to make that determination.

FDR?

 

[deleted162650]

LOL, thought you were responding to Doze regarding this admin.


But, with regards to FDR, I think WW2 did far more for the economic recovery than the New Deal. Regardless though, FDR was in a position where he had to do something, and giving people jobs was good thing.

 

[deleted126335]

If they included housing in the CPI, which they should because everybody needs a place to live, inflation would have shown up a long time ago.

housing is included in the CPI. housing prices have increased due to lower mortgage rates, disruption in commodity supply chains, and relocations due to COVID. Also, prices and rents have fallen in many parts of the country-inside the big cities.

https://www.bls.gov/cpi/factsheets/owners-equivalent-rent-and-rent.pdf

mortgage rates ticking up, supply chains being repaired, and impending evictions and repossessions are expected to cool housing prices.

Nearly 20% of Renters Are Behind on Payments

Research shows that almost 10 million tenants are behind on their rent. While there are protections in place for now, they won't last forever.

www.fool.com

 

[ChiDO]

5-10% of the "infrastructure bill" goes to infrastructure.

 

[We'llBeDoneIn15Minutes]

Was the government intervention helpful or harmful to most Americans?

Harmful.

 

[We'llBeDoneIn15Minutes]

As expected the Infrastructure bill isn't about infrastructure as most of the spending is for the progressive agenda like climate change.

I'm utterly shocked and in disbelief over this!!!
........said no one ever

 

[We'llBeDoneIn15Minutes]

LOL, thought you were responding to Doze regarding this admin.


But, with regards to FDR, I think WW2 did far more for the economic recovery than the New Deal. Regardless though, FDR was in a position where he had to do something, and giving people jobs was good thing.

Neither really did anything for recovery. Just buried is in a massive hole we began to dig out of post WW2 and FDR.

Unless you take possession of value from countries you war with, which we never do, war is exclusively an economic drain of money and resources with zero economic gain (yeah ok, we do occasionally discover something useful while blowing up stuff and killing people, but not exactly an efficient way to achieve progress).

No one talks about how the Vietnam, Iraq, and Afghanistan wars made us rich, because they didn't, but more importantly because they were "bad" wars. Because WW2 was a "good" war (ie, Dead Nazis) it has taken on the mythical ability to be the only war in history to make us or anyone else economically stronger.

 

[deleted126335]

Because WW2 was a "good" war (ie, Dead Nazis) it has taken on the mythical ability to be the only war in history to make us or anyone else economically stronger.

We were the only economy left standing after WW2. Killing or utterly destroying your economic competitors is good for business. That didn’t happen in post WW2 conflicts.

 

[We'llBeDoneIn15Minutes]

We were the only economy left standing after WW2. Killing or utterly destroying your economic competitors is good for business. That didn’t happen in post WW2 conflicts.

That is definitely a different and possibly more plausible take than the usual we put unemployed Americans to "work" producing absolutely nothing with the sole purpose of shooting and exploding.

I strongly feel free trade with other countries makes us more economically prosperous for many reasons, but I'd have to think more about your comment since as I said it's a different take than the usual WW2 narrative. My initial reaction is countries leveled by war have nothing to offer us in trade and no ability to buy our products in return as well, effectively eliminating the benefits of free trade, and in effect being an economic isolationist till those countries are up and running again. We must also not overlook the massive cost the USA took on a) decimating countries and b) rebuilding said leveled countries.

While there certainly are individual gains for companies that no longer have more efficient foreign competitors, I would probably conclude this hurts us as a whole. More efficient foreign competitors strengthen us as we can shift out of inefficient industries to industries where we have the upper hand and a win/win for all countries involved. Again, I am in the camp that competitive free trade is very good for countries so I would most likely have a hard time seeing how destroying foreign lands will benefit us overall.

 

[vector2]

5-10% of the "infrastructure bill" goes to infrastructure.

Yeah, that's not true.

Admittedly, the last-minute in-home care addition is a bit much (and could be dealt with in a separate bill), but ultimately all of the cries from Republicans about how an "infrastructure" bill can only tackle stuff made out of steel or concrete are either disingenuous, specious, or both.

 

[vector2]

"

What is infrastructure? Definition and examples​

Infrastructure refers to the basic systems and services that a country or organization needs in order to function properly. For a whole nation, it includes all the physical systems such as the road and railway networks, utilities, sewage, water, telephone lines and cell towers, air control towers, bridges, etc., plus services including law enforcement, emergency services, healthcare, education, etc.

...

What exactly does infrastructure mean?​

Choate’s and Walter’s publication triggered crisis discussions and the increase in infrastructure asset management and maintenance planning in the United States.

However, public-policy discussions had one glaring obstacle – there was not a precise definition for the term.

In a paper – Infrastructure for the 21st Century – the US National Research Council sought to clarify the meaning of ‘public works infrastructure’ with the following comment:

“… both specific functional modes – highways, streets, roads, and bridges; mass transit; airports and airways; water supply and water resources; wastewater management; solid waste treatment and disposal; electric power generation and transmission; telecommunications; and hazardous waste management – and the combined system these modal elements comprise.”

“A comprehension of infrastructure spans not only these public works facilities, but also the operating procedures, management practices, and development policies that interact together with societal demand and the physical world to facilitate the transport of people and goods, provision of water for drinking and a variety of other uses, safe disposal of society’s waste products, provision of energy where it is needed, and transmission of information within and between communities.”

In Keynesian economics, the term ‘infrastructure’ referred only to public assets that facilitate production – it did not include private assets of the same purpose.

In post-Keynesian times, however, the term has become more and more popular. Its meaning has also widened, and today includes the internal framework in any technology system or business organization.

Hard Infrastructure refers to the large physical networks and facilities we need for a modern industrial nation to function, including bridges, roads, railways, power plants, etc.

Soft Infrastructure includes all the institutions we need to maintain the economy, health and cultural and social standards of a nation, such as the education, finance and health systems, law enforcement, emergency services, and the system of government.

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What is infrastructure? Definition and examples - Market Business News

Infrastructure refers to the basic systems and services that a country or organization needs in order to function properly. For a whole nation, it includes all the physical systems such as road and railway networks, utilities, sewage, water, telephone lines and cell towers, air control towers...

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