Editorial: As US debt reaches the barely imaginable milestone of $40 trillion, America’s ability to meet its financial obligations – coupled with the reality that the global economy depends on decisions made in Washington – should concentrate White House minds on ending its consequential war with Iran
  • CharlesDarwin@lemmy.worldEnglish
    1·
    7 hours ago

    Yeah Biden was actually good on the economy. People have become so ignorant of economics they think there’s a button the government has for “make economy good”. Nope, the inflation was caused by the free market, Biden got it down without it turning into a recession, stuck the soft landing.

    Yeah. People ignore or conveniently forget the effects of Covid on both the supply chain and people getting stimulus checks to keep them whole. And then, Russia attacked Ukraine, disrupting the oil supply…none of these things were something Biden had much control over. Unlike donnie starting a war with Iran…

    He’ll probably blame Biden for that and a lot of people will believe that.

    They have been doing it since day one. I get that his idiot goons have to repeat that they were handed an economy that was like someone in the emergency room because a truck backed over them (laughing *the fuck *out loud at that one), but for others to buy that shit and then repeat it?

    Or believe the “late stage capitalism” bullshit they consume from social media.

    Yeah, that tends to be one of the things that make my eyes roll up in my head. I’m no super-fan of capitalism, but not everything is “late stage capitalism”, FFS. I guess I was 14 once, too, but…Jesus. The amount of WELLAXTUALEEE people that pop up to do some half-assed armchair Communist critique after seemingly have read a pamphlet or watched some hot take is rather hilarious.

    • SpaceCowboy@lemmy.ca
      1·
      48 minutes ago

      Well I don’t understand how the Great Depression wouldn’t be late stage capitalism. It’s just inconvenient for that narrative that the height of human prosperity happened during the 100 year period of late stage capitalism.

      Really annoying because we could look at the policies that got us out of the great depression and say “why don’t we try those things again?” Trust-busting, Keynesian economic policy, actually having wealthy people pay taxes, that kind of thing. Go with what works.

      Thinking capitalism is an ideology is the problem. It’s just buying and selling things really. Systems develop from that and those systems can be bad. So it needs regulation.

      It’s like a machine that needs maintenance. Not doing maintenance on a machine will result in it breaking down eventually, no matter how good the machine is. Libertarian types and socialist types both consider it ideology, one group thinking it’s perfect and should be left alone, the other thinking it’s evil and should be destroyed. Both groups are wrong. It’s like saying a hammer is perfect and should be used for every job or saying a hammer is evil and should be destroyed. It’s just a tool, people shouldn’t get all emotional over it.