David Friedberg interviewed Ray Dalio, who just wrote a book that's free online. Well worth your
time, but the long and short of it is that the Fed can't cut rates and tame inflation at the same time. The only way to bring down interest rates and tame inflation is to cut government spending. That is why DOGE is so important. It's not just a vengeful attack on the Beltway, but a necessary step to control our federal debt, tame inflation, and bring down interest rates, as everyone knows that low interest rates are a necessary part of a healthy economy.
As Americans, we need to support DOGE's efforts to control federal spending.
Dalio also points out that the transition from a service-based economy to an AI economy will be brutal and hurt many people. We all need to be prepared for it. Own your house, have a savings account, get out of debt. Be prepared for change.
The name of the book is "How Countries Go Broke."
Link: https://www.youtube.com/watch?v=1_rvVTuGRNE
Replies to: David Friedberg interviewed Ray Dalio, who just wrote a book that's free online. Well worth your
LOL...Trump and the GOP are the problem...they rammed a $1.9T tax break for Corps and the
wealthiest...then DJT fired the Inspector General overseeing the proper use of $2.2T in his CARE Act...on top of failing to invest in critically needed Infrastructure, after repeated "Promises" to do so. Never mind that he himself has sought bankruptcy protection for several of his business ventures.
Spending cuts are always a part of the equation for debt reduction...but so is tax policy, like Biden's proposal to ensure corps and the wealthiest pay their fair share...it worked during our 'Glory Years' after WWII.
Check out the attached analysis of both Trump and Biden performances.
Link: https://www.crfb.org/papers/trump-and-biden-national-debt
What is "their fair share"?
Define it with numbers please.
I accept the fact that I have to spoon feed you...check out the link...but just in case that's too
burdensome...here's an excerpt...
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The Big Drivers
Biden’s proposed tax cuts include expansions of the Child Tax Credit (CTC) and the Earned Income Tax Credit (EITC), both of which primarily benefit low- and moderate-income households. TPC estimates a smaller overall benefit from Biden’s CTC changes than the Administration, in part because TPC was unable to model some proposed CTC revisions. Those features could significantly affect the CTC proposal’s cost and distributional impact.
The biggest single source of tax hikes on high income households is Biden’s proposal to raise the top rate on capital gains from 20 percent to 39.6 percent.
Other important tax increases for high-income households: Biden’s proposed increase in the top rate for wages and salary income to 39.6 percent, and his proposed expansion and rate hike for the Net Investment Income Tax. Biden’s minimum tax on individuals with more than $100 million in wealth affects only about 20,000 households but would be substantial tax increase for those who get hit.
Finally, as investors and highly paid workers, high-income households would pay a larger share of Biden’s proposed corporate income tax increases. They include a higher corporate income tax rate and tough new tax rules on US-based multinational corporations.
The president is nothing if not consistent. As Biden has made clear since his 2020 campaign, he wants to raise taxes substantially on high-income households and corporations and provide modest tax cuts to low- and moderate-income households. And, like it or not, that’s what his budget does.
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I will say that Ray Dalio is correct in saying that the U.S. Wealth Inequality level is a major problem...he just doesn't seem to understand how it's happening. BTW, Ray is also a member of the "Volcker Alliance" and didn't get caught up in the highly leveraged Wall Street collapse of 2007.
https://en.wikipedia.org/wiki/Ray_Dalio
Link: https://taxpolicycenter.org/taxvox/bidens-budget-would-raise-taxes-high-income-households-cut-them-many-others
I'm good with that number.
But I am far more in favor of consumption based taxation.
Biden made a mockery of the rule of law and especially accountability for tax dodgers.
Given the lack of evidence, I'll have to take your word for it...
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There's those damned dots
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Hopefully DOGE can have as much success as ICE is having in ridding
The federal government of all the useless employees. It’s not a coincidence that he ordered all their lazy *saws back into the office cause he knew a certain % would likely quit.
Dalio is super impressive and is great at simplifying what can be very complex issues. Lots of grea
t videos from him on his company's site and throughout the web. Milton Friedman also was great at simplifying the complex. He, too, talked about how government spending drives inflation. Of course, Libs here and like Robert Reich see new issue with tremendous government spending, because the rich always can pay more.
Dalio is saying, look, I’m rich and 75, so this won’t affect me, but I want to pass
down my knowledge. As Friedberg said, it’s the most important issue of our time.
Hoping that Trump unleashing our natural resources brings down the cost of things too, so interest rates can decline as well.