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Drudge Retort: The Other Side of the News
Wednesday, June 03, 2020

Anguish and Action: We work to help leaders change their world -- and the world needs changing. The killings of George Floyd, Breonna Taylor, Ahmaud Arbery, and the loss of far too many Black lives to list, have left our nation anguished and outraged. While now is a time for grief and anger, it is also a time for resolve.

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I'm glad to see the President step up at a time like this.

#1 | Posted by Zed at 2020-06-03 01:04 PM | Reply | Newsworthy 3

Obama: "Folks, we're ------."

Thank you for your undivided attention.

#2 | Posted by madscientist at 2020-06-03 01:34 PM | Reply | Funny: 1

Hardly addressing the 'Nation' when it can only be viewed live on his website as of now. It is unknown if any of the major news stations will carry it live or not.

#3 | Posted by gracieamazed at 2020-06-03 02:35 PM | Reply | Funny: 1

In the absence of any leadership from Trump, this is highly appropriate by President Obama. Reminds us what real leadership looks like.

All Trump and his stooges can do is blame Antifa. Shameful.

#4 | Posted by moder8 at 2020-06-03 05:27 PM | Reply | Newsworthy 3

Obama is showing off with these complete sentences.

#5 | Posted by lee_the_agent at 2020-06-03 05:34 PM | Reply | Funny: 6 | Newsworthy 2

Unless someone plays a tape of his talk, Trump will never know about this, not being able to follow a transcript.

Maybe, just maybe, Trump will retort to Obama: "Fine! You want to be president? Be my guest!" and our long national nightmare will thus conclude...

#6 | Posted by catdog at 2020-06-03 05:41 PM | Reply

Of course he does Lee. "I mean, you got the first mainstream African-American who is articulate and bright and clean and a nice-looking guy," he said. "I mean, that's a storybook, man."

#7 | Posted by gracieamazed at 2020-06-03 05:43 PM | Reply | Funny: 1

Hardly addressing the 'Nation' when it can only be viewed live on his website as of now. It is unknown if any of the major news stations will carry it live or not.
#3 | POSTED BY GRACIEAMAZED

... it is all over the Internet. Live. Many venues to choose from.

#8 | Posted by GOnoles92 at 2020-06-03 05:45 PM | Reply

------- Twitter eruption in 3, 2, 1......

#9 | Posted by truthhurts at 2020-06-03 05:53 PM | Reply

Always funny to hear Tumpers make fun of Biden's harmless (albeit often stupid) gaffes. Yeah, yeah...Biden says some stupid stuff, be he aint got nothin on your guy!

#10 | Posted by horstngraben at 2020-06-03 06:00 PM | Reply | Newsworthy 3

It is unknown if any of the major news stations will carry it live or not.

#3 | POSTED BY GRACIEAMAZED

People still watch broadcast tv? Fascinating.

#11 | Posted by johnny_hotsauce at 2020-06-03 06:02 PM | Reply | Newsworthy 2

#* Not exactly addressing the nation. Biden had 30 years as senator and 8 years as VP, he didn't fix anything. Obama had 8 years as president and he didn't fix anything. I have no desire to hear how either one will fix something now that they weren't able to fix over all those years.

#12 | Posted by gracieamazed at 2020-06-03 06:04 PM | Reply | Funny: 1

People still watch broadcast tv?

She meant FOX News.

#13 | Posted by REDIAL at 2020-06-03 06:08 PM | Reply | Newsworthy 1

Thanks President Obama for doing something I used to think was easy for Presidents. Identify with us, encourage us, show the way forward.

#14 | Posted by lee_the_agent at 2020-06-03 06:11 PM | Reply | Newsworthy 2

What powerful words. Simple. Direct. Hopeful. Concrete plans to reconcile and move forward. I miss this man.

#15 | Posted by BruceBanner at 2020-06-03 06:20 PM | Reply | Newsworthy 1

Obama had 8 years as president and he didn't fix anything. I have no desire to hear how either one will fix something now that they weren't able to fix over all those years.
#12 | POSTED BY GRACIEAMAZED

That's a serious, significant oversimplification.

Actually, it's down right false. And am curious why you would ascribe to such a perspective? You sounds like an absolutist.

#16 | Posted by rstybeach11 at 2020-06-03 06:24 PM | Reply | Newsworthy 4

Obama had 8 years as president and he didn't fix anything. I have no desire to hear how either one will fix something now that they weren't able to fix over all those years.
#12 | POSTED BY GRACIEAMAZED

Obama had plans that address both the pandemic and police violence.
Trump ripped up those plans.
You love him for it.

You love seeing protesters get beaten, far more than you're bothered by murders by racist police.
Isn't your son a police officer? Has he killed anyone and made you proud?

#17 | Posted by snoofy at 2020-06-03 06:30 PM | Reply | Newsworthy 4

Obama made lots of improvements like Obamacare, CC regs, lowering the deficit, draw down in Iraq.

Trump has basically helped the .1%ers loot America while trashing the place and alliances.
Trump's bungling has cost Trillions, polarized citizens, alienated allies and destroyed the economy.
Everything Trump touches dies.

#18 | Posted by bored at 2020-06-03 06:36 PM | Reply

The good feelings that Obama inspires in this nation is amazing. I'm going to write him a letter and tell him so. I miss him so much. I miss the sound of his voice. I miss the confidence he inspires. I miss his leadership, his intelligence and his humor. I miss not having him in our lives.

#19 | Posted by Twinpac at 2020-06-03 06:46 PM | Reply | Newsworthy 2

Biden had 30 years as senator and 8 years as VP, he didn't fix anything. Obama had 8 years as president and he didn't fix anything. I have no desire to hear how either one will fix something now that they weren't able to fix over all those years.
#12 | POSTED BY GRACIEAMAZED

Hold up.
Is something broken?
What is it?
What is Trump doing to fix it?

Thanks in advance, GracieAmazed!

#20 | Posted by snoofy at 2020-06-03 06:55 PM | Reply | Newsworthy 1

Actually, it's down right false. And am curious why you would ascribe to such a perspective? You sounds like an absolutist.
#16 | POSTED BY RSTYBEACH11 AT 2020-06-03 06:24 PM | FLAG: (CHOOSE) | NEWSWORTHY 1

Nah, she's right.

There's an oversimplified response for you.

#21 | Posted by METACOG at 2020-06-03 07:10 PM | Reply

#21 Might as well get this out of the way:
Who were you before you got the axe?

#22 | Posted by snoofy at 2020-06-03 07:12 PM | Reply | Funny: 1 | Newsworthy 1

Trump has basically helped the .1%ers loot America while trashing the place and alliances.
Trump's bungling has cost Trillions, polarized citizens, alienated allies and destroyed the economy.
Everything Trump touches dies.

Trump happens to be the current president of a political-economic system designed to prey on the working class.
Obama is feeding you people a line of BS. This was going on while he was president. He's no different than any other politician.

#23 | Posted by Ray at 2020-06-03 07:15 PM | Reply | Funny: 3

SNOOFY

"What is Trump doing to fix?"

He hasn't stopped breaking it yet. He still has another 154 days to put the country in full blown depression . . . or WWIII.

#24 | Posted by Twinpac at 2020-06-03 07:16 PM | Reply | Newsworthy 1

What is Trump doing to fix it?
Thanks in advance, GracieAmazed!
#20 | POSTED BY SNOOFY

You people are so obsessed with one man, you can't see the political system for what it his.

The U.S. is on the same trajectory as empires of the past that collapsed.

#25 | Posted by Ray at 2020-06-03 07:21 PM | Reply | Funny: 2

Meanwhile, Trump addressed the ball.

#26 | Posted by LesWit at 2020-06-03 07:21 PM | Reply

He still has another 154 days to put the country in full blown depression . . . or WWIII.

Or?

#27 | Posted by RevDarko at 2020-06-03 07:31 PM | Reply

#25 answer the question.

#28 | Posted by fresno500 at 2020-06-03 07:36 PM | Reply

REVDARKO

It depends. He can't even get our allies to attend a meeting. Seems they have some reservations about Trump's stability.

#29 | Posted by Twinpac at 2020-06-03 07:48 PM | Reply

He's no different than any other politician.

Other than the not holding any office part.

#30 | Posted by REDIAL at 2020-06-03 07:54 PM | Reply

He can't even get our allies to attend a meeting. Seems they have some reservations about Trump's stability.
#29 | POSTED BY TWINPAC

There in lies a justifiable reason to address RAY's concern that too much focus is being placed on one person.

That one person is the representative of the system RAY refers to. Said representative's political alignment(?)/philosophy(?) is incongruent with the larger, global system.

#31 | Posted by rstybeach11 at 2020-06-03 07:55 PM | Reply

"too much focus is being placed on one person."

Ray also finds it systemically unfair, and dare I say racist, that the QB so often wins the Super Bowl MVP title.

#32 | Posted by snoofy at 2020-06-03 08:19 PM | Reply | Funny: 1

#12 | POSTED BY GRACIEAMAZED

Holy cow GRACIEAMAZED, all the orange snot barge had to do was leave everything in place that his betters had created and we wouldn't be where we are now. Or at least not nearly as bad. You must be a troll, no one is this stupid.

#33 | Posted by billy_boy at 2020-06-03 08:19 PM | Reply | Newsworthy 2

"all the orange snot barge had to do was leave everything in place that his betters had created and we wouldn't be where we are now."

Including just letting his inherited billions sit in an index fund.
Instead he had to show off how good he is at business, by losing half of it.
And GracieAmazed still actually believes Trump is a successful businessman. Imagine being that clueless about the business world.

Stay in school, kids!

#34 | Posted by snoofy at 2020-06-03 08:24 PM | Reply | Newsworthy 1

I absolutely can't take serious a chronically unemployed poster who is proud they receive their unemployment benefits on a fake BOA debit card.

#35 | Posted by gracieamazed at 2020-06-03 08:28 PM | Reply | Funny: 1

Sock puppets are out in full force!

#36 | Posted by gracieamazed at 2020-06-03 08:31 PM | Reply | Funny: 1

It's A Shame About Ray

#37 | Posted by Angrydad at 2020-06-03 08:33 PM | Reply

RSTY

I'm not so much thinking about the "global balance" at the moment. Atlas doesn't shrug easily.

Instability in Trump's administration is starting to look more like a San Andreas Fault.

Trump is so unstable my concern is whether or not the Pentagon would follow the orders of a perpetual child should he order them to fire on U.S. citizens.

Trump is a very desperate man.

#38 | Posted by Twinpac at 2020-06-03 08:44 PM | Reply

Debbie Ray Downer is harshing my high.

#39 | Posted by Corky at 2020-06-03 08:56 PM | Reply

I absolutely can't take serious a chronically unemployed poster who is proud they receive their unemployment benefits on a fake BOA debit card.

#35 | Posted by gracieamazed at 2020-06-03 08:28 PM | Reply

Sock puppets are out in full force!

#36 | Posted by gracieamazed at 2020-06-03 08:31 PM | Reply

I'm so confused about GRACIEAMAZED...

www.shutterstock.com

#40 | Posted by billy_boy at 2020-06-03 08:57 PM | Reply

I absolutely can't take serious a chronically unemployed poster who is proud they receive their unemployment benefits on a fake BOA debit card.

#35 | POSTED BY GRACIEAMAZED AT 2020-06-03 08:28 PM |

Is this Snoofy you are speaking about?

#41 | Posted by byrdman at 2020-06-03 09:07 PM | Reply

Gee, that Obama guy is great!

Wonder who he picked for his VP for 8 years?

#42 | Posted by Corky at 2020-06-03 09:08 PM | Reply

#41

Sounds more like Ray......

#43 | Posted by Corky at 2020-06-03 09:09 PM | Reply

Seems they have some reservations about Trump's stability.

And every world war needs an unstable megalomaniac for the world to unite against.

You seem to be under the impression that Trump is looking for an enemy to unite the world against.

He wants to BE the one the world unites against.

#44 | Posted by RevDarko at 2020-06-03 09:10 PM | Reply

Biden to Trump - "oh your a villain alright, just not super..."

I'll see myself out now :-(

#45 | Posted by billy_boy at 2020-06-03 09:18 PM | Reply

People who put their money where their mouth is...

.... a pledge of "1,000,000 to improve police training and address systemic racism through education and advocacy in our country."

www.instagram.com

And he hasn't even gotten paid yet!

#46 | Posted by Corky at 2020-06-03 09:20 PM | Reply

The U.S. is on the same trajectory as empires of the past that collapsed.
#25 | POSTED BY RAY AT 2020-06-03 07:21 PM | FLAG: | FUNNY: 1

That funny flag reminds why every new generation never bothers to learn the lessons of history which repeat over and over again.

#47 | Posted by Ray at 2020-06-03 09:21 PM | Reply

Billy Boy, don't worry about her. She's just a bored woman who has a lot of conflicts because history isn't moving like she expected.
We're moving into a new era, the Corona Virus has sped up history. I actually think I will se the beginning a a great new future in my lifetime, I honestly didn't before the Corna Virus. It will be a hard time for most of us, it will leave many of us behind but it will change, not just the United States, but the entire world. After this virus I seriously doubt that populations will tolerate dictators because those dictators did not protect them from this virus. Stronman Dictators are only powerful as long as the people believe they can be protected by them. Obviously they can't. Their power is going to evaporate as the people look for leaders who can and will actually protect them from the real threats they face.
The Coronavirus will cause the biggest expansion of democracy in history. The people will demand it because their leaders have failed them so badly. And at the top of the pile of failed leaders is Donald Trump, who wasn't elected by the people but appointed by the EC which was created to prevent abolition. A racist institution choosing our President????? Hello???? America?????? Correct this wrong!!!!!
We see the protests in the street, let's make use of this energy and demand an Amendment to abolish the EC once and for all. George Bush achieved the presidency the same way Trump did and look what the results were. Then we had Obama who won the popular vote and look what he did. Then the EC gave us Trump and he destroyed what Obama did because his entire Presidency is based on hate and revenge.
Barrack Obama loved America, loved Americans.
Donald Trump doesn't love America because he is incapable of love.
I swear, we all know that, why are some of us so unwilling to admit it?

#48 | Posted by danni at 2020-06-03 09:22 PM | Reply | Newsworthy 1

And Rev. Gracie, I'm sorry about the spelling errors but I type faster than I think. And actually that is true. I've been known to have conversations with people while I am typing infomation totally unrelated to the conversation. I'm not bragging, there are lots of people who do the same thing, it's what I do for a living snd after this many years it is not surprising that I got sort of good at it.

#49 | Posted by danni at 2020-06-03 09:27 PM | Reply

"The U.S. is on the same trajectory as empires of the past that collapsed.
#25 | POSTED BY RAY AT 2020-06-03 07:21 PM | FLAG: | FUNNY: 1
That funny flag reminds why every new generation never bothers to learn the lessons of history which repeat over and over again."

Is this the same old Ray? If so welcome back sir and your warnings are heard though maybe not agreed with. We fought WWII after going through the Great Depression of 1929. I think Americans are far more resillinet than you think and we will fight our way out of this Pandemic, the civil unrest and anything else that is trown at us. We are America and we will even survive Donald Trump, like it or not.

#50 | Posted by danni at 2020-06-03 09:31 PM | Reply

Rev. Gracie, sorry for the spelling errors again. My fingers don't always obey my brain.

#51 | Posted by danni at 2020-06-03 09:33 PM | Reply

... a pledge of "1,000,000 to improve police training and address systemic racism through education and advocacy in our country."

There goes Corky again. Always with a solution that can't be made to work.

The current crop of police have a military background which teaches warfare tactics.

Those Norman Rockwell days when police were friendly are long gone.

#52 | Posted by Ray at 2020-06-03 09:34 PM | Reply

The problem with our police isn't really with our police. It is the lace of education about our rights among the population.
Why do the police pick on the black population so much....because they can.
Black population needs to lawyer up, they need to get immunity removed from police so that they are just as liable as the rest of of for the things they do.
It is EDUCATION, EDUCATION, EDUCATION!
That is what the powerful fear most, that's why they make it so ridiculously expensive......because they don't want us to have it!!!!
When and if you ever digest and accept those realities then, and only then, will we create a better nation.

Rev. Gracie, please check me for spelling errors but this time I think I corrected all of them. If not, feel free to call them out.
Hey Gracie, I think you have actually caused me to be more careful and thoughtful, and I don't say that to you with any resentment.
Thank you, sincerely, maybe I needed that.

#53 | Posted by danni at 2020-06-03 09:43 PM | Reply

Holy cow GRACIEAMAZED... You must be a troll, no one is this stupid.
#33 | POSTED BY BILLY_BOY

If only it were so simple.

She's a racist and a representation of Trump supporters.

Her type of Americans are the reason we're in this mess.

#54 | Posted by ClownShack at 2020-06-03 09:52 PM | Reply | Newsworthy 1

#50 | POSTED BY DANNI

If so welcome back sir and your warnings are heard though maybe not agreed with.

Welcome? I didn't expect that. Thanks.

What you say is true. But what you are missing is that the world monetary system is collapsing. A credit fueled dollar operates on the same principle as a Ponzi scheme. Once it can no longer expand, the next stage is credit deflation. I've been warning about it for years only to get ridiculed. What the virus shutdown did was accelerate the process of defaults. In a deflationary economy, everything goes in reverse of an inflationary economy. The dollar gets stronger on world markets, not weaker. And the credit market contracts instead of expanding.

#55 | Posted by Ray at 2020-06-03 09:54 PM | Reply

"The current crop of police have a military background which teaches warfare tactics."

Then it should be easy to defeat them, like they were defeated in Iraq, Afghanistan, and even Beirut.

Or maybe America is not really any different than Grenada.

#56 | Posted by snoofy at 2020-06-03 10:05 PM | Reply

A credit fueled dollar operates on the same principle as a Ponzi scheme.
#55 | POSTED BY RAY

Your problem is you offer no solutions.

Islam doesn't do credit. Is Islam the solution?

#57 | Posted by snoofy at 2020-06-03 10:07 PM | Reply

#53 DANNI
Is GRACIEAMAZED really a reverend or are you being sarcastic? I'm serious. Sorry for not knowing.

#58 | Posted by billy_boy at 2020-06-03 10:20 PM | Reply

- Always with a solution that can't be made to work.

Always wearing his Chicken Little outfit with the Negative Nancy beads.

It barely even fits these days.

#59 | Posted by Corky at 2020-06-03 10:54 PM | Reply

I. Umm. Ahhh. Mmmm.

Ummm.

I miss ahhh , err, I miss Obama and his calm rational thinking!

Ummmm.

So much!

#60 | Posted by donnerboy at 2020-06-03 11:11 PM | Reply

I absolutely can't take serious a chronically unemployed poster who is proud they receive their unemployment benefits on a fake BOA debit card.
#35 | POSTED BY GRACIEAMAZED

You love Trump.

Trump has been living off his daddy's credit card his entire life!

How's that work, in your mind?

I'd genuinely love to know how that works

#61 | Posted by snoofy at 2020-06-03 11:48 PM | Reply

That funny flag reminds why every new generation never bothers to learn the lessons of history which repeat over and over again.
#47 | POSTED BY RAY

Like wearing a mask during a pandemic.

#62 | Posted by snoofy at 2020-06-04 12:06 AM | Reply | Newsworthy 1

Ray: We've got to harvest the asteroid belt to pay off the debt.

#63 | Posted by grumpy_too at 2020-06-04 02:25 AM | Reply

It's interesting how Ray is convinced so much is an illusion and a fraud. And yet money, which is only valuable because humans think it's valuable, is what's real. Especially money owed, i.e. debt.

#64 | Posted by snoofy at 2020-06-04 02:33 AM | Reply

We've got to harvest the asteroid belt to pay off the debt.
#63 | POSTED BY GRUMPY_TOO

That would take NASA (the state funded agency) to take over putting people and equipment into space. They are now solely a permission and policy agency; the private sector has taken over American space venturing.

So unless you're planning on taking over SpaceX and the companies following suit, good luck paying off anything at a federal level with the undoubted riches afforded by asteroids.

#65 | Posted by METACOG at 2020-06-04 03:59 AM | Reply | Funny: 1

#65 | Posted by METACOG

It's a joke, son...don't'cha get it?

#66 | Posted by Angrydad at 2020-06-04 07:45 AM | Reply

Of course he does Lee. "I mean, you got the first mainstream African-American who is articulate and bright and clean and a nice-looking guy," he said. "I mean, that's a storybook, man."

#7 | POSTED BY GRACIEAMAZED

Gracie is pissed that her bunker boy looks like schtt compared to Obama.

It's OK gracie, it is possible to get out of the Trump rut.

#67 | Posted by jpw at 2020-06-04 11:36 AM | Reply | Newsworthy 1

#12 | POSTED BY GRACIEAMAZED

Because people like you didn't want them to fix anything.

Look in the mirror gracie. You'll see the problem.

#68 | Posted by jpw at 2020-06-04 11:40 AM | Reply | Newsworthy 1

Obama is feeding you people a line of BS. This was going on while he was president. He's no different than any other politician.

#23 | POSTED BY RAY

I'd ask if you ever get tired of lazy thinking but I already know the answer.

The looting of the Treasury was nowhere close to what's happening now under Obama. Hell, it wasn't even close under Bush when we were fighting two wars and passing tax cuts.

#69 | Posted by jpw at 2020-06-04 11:43 AM | Reply

The U.S. is on the same trajectory as empires of the past that collapsed.

#25 | POSTED BY RAY

Do you honestly think you're the only person who sees this?

#70 | Posted by jpw at 2020-06-04 11:45 AM | Reply | Newsworthy 1

What you say is true. But what you are missing is that the world monetary system is collapsing. A credit fueled dollar operates on the same principle as a Ponzi scheme. Once it can no longer expand, the next stage is credit deflation. I've been warning about it for years only to get ridiculed. What the virus shutdown did was accelerate the process of defaults. In a deflationary economy, everything goes in reverse of an inflationary economy. The dollar gets stronger on world markets, not weaker. And the credit market contracts instead of expanding.

#55 | POSTED BY RAY

Wow. I'm so glad you came back to explain that to us.

I never understood the concept of opposites until now. Thanks!

As for warning about it for years that's the reason you're not taken very seriously. A weatherman in Kansas who forecasts a tornado every day eventually gets it right.

#71 | Posted by jpw at 2020-06-04 11:49 AM | Reply | Newsworthy 1

#55 Ray, what you don't understand is that LABOR is the intrisnic value of fiat money. And it's unlikely we'll run out of it.

#72 | Posted by madscientist at 2020-06-04 12:40 PM | Reply | Newsworthy 1

When a mediocre former president seems like a sage only a few years later, it is obvious the current President is a complete failure.

#73 | Posted by e1g1 at 2020-06-04 06:08 PM | Reply

Sometimes the mood strikes me to post here.
I always know what to expect.

#74 | Posted by Ray at 2020-06-04 06:28 PM | Reply

The U.S. is on the same trajectory as empires of the past that collapsed.
#25 | POSTED BY RAY

I don't really know what that means.

Did any empires succeed, or is every empire necessarily on the same path, and therefore you're not saying anything?

#75 | Posted by snoofy at 2020-06-04 06:53 PM | Reply

Did any empires succeed, or is every empire necessarily on the same path, and therefore you're not saying anything?
#75 | POSTED BY SNOOFY

They succeed initially until their expenses start exceeding their income.
The US crossed that line after the Vietnam War when Nixon took the dollar off the gold standard.
From that point on the US was free to create as much currency as it needed.

Until recently, it took something like $3 of debt to raise the GDP $1. Take away debt and the GDP would be falling.
This nation is not producing real wealth anymore. It's getting by on credit.

I don't know how long this can continue. But it can't be for many more years.

#76 | Posted by Ray at 2020-06-04 08:12 PM | Reply

"This nation is not producing real wealth anymore. It's getting by on credit."

US currency has always been backed by nothing more than the full faith and credit of the United States government.

They simply stopped making the credit exchangeable for gold, which doesn't change the nature of the beast, since gold itself is likewise only valuable because people say it is.

"I don't know how long this can continue. But it can't be for many more years."

That seems lazy, even by your standards.
Surely you can bold down what you're saying to some kind of Debt to GDP ratio.
Surely you can find out what those ratios were when other empires failed, and how close the US is.

You seem like you might even be the kind of person who knows England's biggest military challenge in suppressing the Colonial rebellion was not being able to afford to pay the troops.
So then, you might ask, what was England's Debt-to-GDP ratio at the time.

You should ask that.

#77 | Posted by snoofy at 2020-06-04 08:24 PM | Reply | Newsworthy 1

Oh well. Ray's too busy saying busing is racist to ask that.

#78 | Posted by snoofy at 2020-06-04 09:27 PM | Reply

You want to see the US government go ape? Start striking all over the place. The President will draft every able-bodied man and force them to work. Because if labor stops, the value of the dollar drops. Then the stock market crashes and all those millions of nest eggs evaporate.

Ray, didn't they teach Germany 1914-1945 back in the day? Or at least read Shirer's The Rise and Fall of the Third Reich: A History of Nazi Germany.

#79 | Posted by madscientist at 2020-06-05 07:34 AM | Reply

They succeed initially until their expenses start exceeding their income.
The US crossed that line after the Vietnam War when Nixon took the dollar off the gold standard.
From that point on the US was free to create as much currency as it needed.
Until recently, it took something like $3 of debt to raise the GDP $1. Take away debt and the GDP would be falling.
This nation is not producing real wealth anymore. It's getting by on credit.
I don't know how long this can continue. But it can't be for many more years.

#76 | POSTED BY RAY

Ray is an example of what a 4th grade understanding of economics gets you.

1. "The US crossed that line after the Vietnam War when Nixon took the dollar off the gold standard."
The US has been running deficits since before WW2. There have been only a couple years as exceptions (most recently the last four Clinton budgets).
As for the gold standard, see #77 | POSTED BY SNOOFY

2. "From that point on the US was free to create as much currency as it needed."
You don't understand how currency is created. It's not "the US". It's the Federal Reserve. The Feds can't just create it when they want.

3. "Until recently, it took something like $3 of debt to raise the GDP $1. Take away debt and the GDP would be falling."
No. It frankly depends on how its used. If we blow finances on wars overseas, then yes it's going to be low. If its invested in infrastructure, telecommunications, education, welfare, etc., the numbers reverse. BUT Republicans consider that wasted money so we don't do it.

4. "This nation is not producing real wealth anymore. It's getting by on credit."
I honestly have no idea where you got such a stupid conclusion. We are actually producing wealth at an unprecedented rate and faster than the rest of the world. In fact, the wealth creation in the US is almost as much as the rest of the world combined (about 75% if I recall).

#80 | Posted by Sycophant at 2020-06-05 01:11 PM | Reply

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