U.S. Posts $2.77 Trillion Budget Gap, Second-Biggest Ever | Metals Mine

U.S. Posts $2.77 Trillion Budget Gap, Second-Biggest Ever | Metals Mine

U.S. Posts $2.77 Trillion Budget Gap, Second-Biggest Ever

From bnnbloomberg.ca

The U.S. posted the second-largest annual budget deficit on record for 2021 as pandemic-relief spending sustained the federal government’s massive borrowing needs. The deficit for the fiscal year through September was $2.77 trillion, compared with the $3.1 trillion peak seen in the previous year, a Treasury Department report showed on Friday. Treasury Secretary Janet Yellen and acting White House budget director Shalanda Young said in a statement that the U.S. economic recovery this year helped to shrink the deficit from its 2020 nadir. The resulting gap was $897 billion less than forecast in the administration’s ... (full story)

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Oct 23, 2021 5:06pm — Edited

Guys, calm down. The problem is, you guys live almost in an utopia compared to the rest of the world. You think 4-5% percent inflation is bad and Democrats will ruin everything and change the system? Try living in Turkey, with 45% inflation rates. We also changed the system, from parliamentary republic to the presidency (Autocracy actually) few years ago. And 20 years ago, when i was a baby, interest rates were 120% believe me or not.

We are in a serious pandemic with energy and supply crisis and you are grunting about 5% inflation? Let me tell you something, the lowest inflation rate i have ever seen in my life was 8% and those days were the best days of my life.

Sounds sad right? Of course you can't make progress if you compare yourself with Turkey, but what i am just saying is don't exaggerate things too much. Yeah inflation hit 5% but now FED is going to taper, and next year they will hike the rates so everything will be alright. Back to the 2-3% inflation again.

It is good to worry about your country, but exaggerating the situation and overreacting will only cause harm.

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Oct 23, 2021 12:41pm

Quoting Don M

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I think you’re smoking too much weed. Just my thoughts

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Oct 23, 2021 1:39pm — Edited

Quoting Don M

Hidden

Personally I have no idea of what rational cognitive process could possibly lead one to the extraordinarily partisan political analysis you present. I'm not a American, and have no skin in the chaos and crisis in American politics and governance thats now become a major threat to the democratic Free World. If I were a mainstream European whos family has experienced both Communism and Fascism and the horrors they brought on the old continent, in the last 90 years, I would brand you a Fascist.
I dont. Or indulge in ad hominem labeling, and I respect your views as I expect you to respect mine.

But I find your post and its content if a reflection of where the majority of Americans are at, deeply worrying.
As I do of similar political perspectives I get from Russia , China and much of the Islamist block.
We're here to discuss and exchange views on trading international markets. Geopolitical, ideological trends that effect trade, and economic policies driven by political ideology (is there any other sort) are the grist to long term fundamental analysis and ultimately capital flows, FDI, and growth of global and national GDP.
Sadly the standard of comment and exchange on these threads falls far short of what could be helpful for serious investors, but as a cheap& cheerful free facility for traders bored with their long day, and a center where tech trading systems can be discussed and info exchanged it serves retail trading enthusiasts well.
I personally despair at how pedestrian its coverage of serious geopolitical fundamentals has become and the quality of the partisan comment it attracts... the vast majority of smarter members with any real professional experience have long since given up on the increasing US, and monetary policy focus plus the inept management and monitoring of the site and particularly, its news threads.

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Oct 25, 2021 7:58am

I always think it hilarious when the conspiracy theories come out. Governments ( Left, Right and Center) would have trouble organizing a gangbang in a whorehouse with a credit card and people think they have these long term plans of this and that. Funny stuff. The fact is they are all crabs in a bucket, crawling over each other trying to get out and pulling each other down. There is not thought longer than the next election and who's gonna contribute. The people pulling the strings run everything giving the illusion of two sides but its the same puppeteers. Of course inflation is here and gonna stay for a while, greed is universal and a capitalist never lets a good crisis go by without boosting the bottom line. Instead of whining about the game I advise its best to learn to play it unless someone here has figured out how to change it

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Oct 23, 2021 4:31pm

Quoting RossEdwards

Disliked

{quote} Personally I have no idea of what rational cognitive process could possibly lead one to the extraordinarily partisan political analysis you present. I'm not a American, and have no skin in the chaos and crisis in American politics and governance thats now become a major threat to the democratic Free World. If I were a mainstream European whos family has experienced both Communism and Fascism and the horrors they brought on the old continent, in the last 90 years, I would brand you a Fascist. I dont. Or indulge in ad hominem labeling, and...

Ignored

get a life ,your part of the problem from where I stand
then comment on the subject
that's a massive deficit + they talk of taper with spending bills on the horizon

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Oct 24, 2021 7:14am — Edited

Quoting UKBanter

Disliked

{quote} Agreed however the people that matter are "left" lets face it ,no matter which shade they say they are,(blue/red), they are all Liberal. IMO the big reason many folks don't vote as they have nothing to push them into the polling booths. The actual Liberals polling 11.6% of the popular vote last time around. But if Joe Swinson stood in my constituency I would bother the polling booth (for entirely non political reasons) (on topic) Just my take where we all concur i feel. Were at a position where we are not at all comfortable....

Ignored

theres a lot of apathy out there ,I think we're safe from the Swinson now ?but I do still double lock my front door just in case

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Oct 24, 2021 6:40am

Quoting Bones

Disliked

{quote} no Britain isn't left

Ignored

Agreed however the people that matter are "left" lets face it ,no matter which shade they say they are,(blue/red), they are all Liberal.
IMO the big reason many folks don't vote as they have nothing to push them into the polling booths. The actual Liberals polling 11.6% of the popular vote last time around.
But if Joe Swinson stood in my constituency I would bother the polling booth (for entirely non political reasons

)

(on topic) Just my take where we all concur i feel. Were at a position where we are not at all comfortable. We have little or no faith in the "tools" that are available to fix the financial problems experienced worldwide in recent times. Or indeed at this point to have faith in the possibility that the can could be kicked any decent length of time further up the road.

"Painted into a corner".... "elephant in the room"..... My take it will have to fix itself.
Yes its going to get ugly (NOT THAT I WANT IT TO I WANT TO BE WRONG!).

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Oct 25, 2021 7:10am

Don M has it right. There will always be problems but what we have now is purposely created problems. Inflation is largely led by energy prices as that affects everything. Strangling domestic production and then pleading for foreign increases is glaringly obvious as to the results. Speculation as to the motives only has two reasons. Comparing ourselves to Turkey or any other high inflation place is like comparing losing a lower leg to a whole leg. More apropos would be comparing our present inflation to the misery index of the 1970's. No matter when or where inflation is theft. It is never transitory unless there is a countervailing deflation. Neither is good nor very tolerable.

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Oct 23, 2021 4:18pm

Quoting Don M

Hidden

no Britain isn't left

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Oct 24, 2021 6:39am

its not normal

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Oct 24, 2021 1:05pm

Picture no 2 bonsey two effin good reasons to vote for her!!! I do think of myself as deep with very shallow aspects.

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Oct 23, 2021 4:22pm

Well then, US "Political Leadership" is either totally ideologically tone deaf or what has been going on past five years is 100% intentionally contrived.
Had a brief chat recently with as she referred to herself being, a young grandmother with eleven grandchildren who was forced by coercion to take the vaccine or lose her job.
Only thought on her mind was what the Hell was going on in her country.

People are waking up to question current circumstance and will be acting on what they determine the Truth is. Seems quite relevant when it boils down to effects upon consumer confidence or lack thereof.

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Oct 24, 2021 5:26am

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Oct 24, 2021 5:38am — Edited

Quoting Nordling00

Disliked

Guys, calm down. The problem is, you guys live almost in an utopia compared to the rest of the world. You think 4-5% percent inflation is bad and Democrats will ruin everything and change the system? Try living in Turkey, with 45% inflation rates. We also changed the system, from parliamentary republic to the presidency (Autocracy actually) few years ago. And 20 years ago, when i was a baby, interest rates were 120% believe me or not. We are in a serious pandemic with energy and supply crisis and you are grunting about 5% inflation? Let me tell...

Ignored

they lost control of it already first they spent decades trying to achieve inflation
then they claim they can hold it at the 2% with raw prices rocketing
the fed are painted in a corner they do not want higher rates ,this is why you have to doubt much taper right now
Janet Yellen says all the time its not the amount but the cost of all that debt.
The core problem is after years of failed QE stimulus theres no where to go in any normal economics

what you described right there is the massive unknown gamble central banks play as soon as they start taper in this environment rates will jump

Your right you can't compare Turkey V the reserve currency of the world

Oct 24, 2021 5:59am — Edited

they can't fill the gap ,which is the perfect excuse not to taper... Powell keeps dropping hints
but also inflation isn't transitory which is the only theme holding rates down

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Oct 24, 2021 6:17am

Quoting Bones

Disliked

{quote} they lost control of it already first they spent decades trying to achieve inflation then they claim they can hold it at the 2% with raw prices rocketing the fed are painted in a corner they do not want higher rates ,this is why you have to doubt much taper right now Janet Yellen says all the time its not the amount but the cost of all that debt. The core problem is after years of failed QE stimulus theres no where to go in any normal economics what you described right there is the massive unknown gamble central banks play as soon as they...

Ignored

I don't think central banks play a gamble, and it is not unknown.

With the pandemic, unemployment peaked but inflation was low. So FED has started an expansionary cycle to cool down the unemployment by running the risk of heating up the inflation.

Now that the unemployment reached to the natural levels, next step is the contraction cycle. But yeah, FED is not so willing to start contraction cycle because that will also cause a bit unemployment and more importantly this supply chain crisis is not in control yet. But sooner or later, contraction cycle will begin and US will start to lower it's debt and cool down the inflation.

There is nothing to exaggerate. No need to call this "a plan to make US turn into China" like the guy in the first post did.

These are just little disagreements on when and how to start this contraction cycle. We are human, these disagreements are natural and there is nothing to worry about.

Oct 24, 2021 6:47am

Quoting Bones

Disliked

its not normal {image}

Ignored

Yeah, this chart proves my point. US is in an expansionary cycle since the start of the pandemic. It looks too much in the chart because Biden also has too many spending plans aside from the pandemic. That's also alright, the government after him can start a deeper contraction cycle, done.

Oct 24, 2021 7:16am — Edited

Quoting UKBanter

Disliked

Bones i put a like on the post #15 but NOT liking what the post is saying!!! Is there a way back?........... think we know the answer......

Ignored

Im waiting for the next harebrained scheme ,in the next crisis...
they can never unwind that in our life
It's all normal to our young friend Nordling

Oct 24, 2021 7:58am

Quoting Bones

Disliked

{quote} Im waiting for the next harebrained scheme ,in the next crisis... they can never unwind that in our life It's all normal to our young friend Nordling

Ignored

Cause i have seen the worse, despite my young age. I have learned how to handle the worst situations, and educated myself about how to not just overcome but also benefit them.

It's not just normal, it's too good for your young friend Nordling.

Oct 24, 2021 3:18pm

Quoting Nordling00

Disliked

{quote} Cause i have seen the worse, despite my young age. I have learned how to handle the worst situations, and educated myself about how to not just overcome but also benefit them. It's not just normal, it's too good for your young friend Nordling.

Ignored

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Oct 24, 2021 3:35pm

Quoting Bones

Disliked

{quote} {image}

Ignored

Yeah. I am not the one to blame for though. It is not my fault to be born in this country, i am also not the one that made this country awful.

It is not appropriate to make fun of me with this though. This is a very low thing to do.

And yeah, i have probably seen the worst things in life including hyperinflation. Which is one of the reasons why i am successful, patient and strong for my age.

Oct 25, 2021 12:53am

Quoting aquavox

Disliked

{quote} well the Highest inflation i ever experienced was 25.5% and they were the best days of my life ! i made a $hit load of Money, both capital gain and income - so go figure?

Ignored

Well yeah. There's an inner economy and outer economy. Outer economy is the economy of the country that you live in, which you can't really change and all you can do is vote. And there is the inner economy, the one that's yours. Your inner economy must go up whether your country's economy is good or bad. That's why financial education matters. Congrats btw, same here. I benefit from every scenario too.

Oct 25, 2021 4:08am

Quoting aquavox

Disliked

{quote} well the Highest inflation i ever experienced was 25.5% and they were the best days of my life ! i made a $hit load of Money, both capital gain and income - so go figure?

Ignored

You must be extremely jealous of the Zimbabweans then they are living the dream aren't they, maybe you should relocate

Oct 24, 2021 10:31pm

Quoting Nordling00

Disliked

the lowest inflation rate i have ever seen in my life was 8% and those days were the best days of my life...

Ignored

well the Highest inflation i ever experienced was 25.5% and they were the best days of my life !
i made a $hit load of Money, both capital gain and income - so go figure?

Oct 25, 2021 7:26am

Quoting barkie

Disliked

{quote} You must be extremely jealous of the Zimbabweans then they are living the dream aren't they, maybe you should relocate

Ignored

No need to, NZ in the 80’s was quite the Roller coaster , taught me a lot about trading, fromthe Deutschmark account i profited from , to pulling funds outs of a managed account in Feb 87 due to an inverted head and shoulders I spotted inthe markets, that meant I didn’t,t lose anything on October 19 ‘87 …… :-)

Oct 24, 2021 4:03am

This is a post to remind members why the first post is hidden:

"Hidden for breach of Trader Code of Conduct"

Probably it was too political and a bit off topic.

Oct 23, 2021 10:41am

Yea I mean most people will just switch to harder assets and hoard them. The Malthusian Big Bang event

Oct 24, 2021 6:51am

Bones i put a like on the post #15 but NOT liking what the post is saying!!!

Is there a way back?........... think we know the answer......

Hidden for breach of Trader Code of Conduct

Hidden for breach of Trader Code of Conduct

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