Who's Hiring And Who's Firing: Government Accounted For 88% Of All January Job Gains

Source: https://www.zerohedge.com/markets/whos-hiring-and-whos-firing-government-accounted-88-all-january-job-gains
Published: Feb 5, 2021
Author: Tyler Durden
Post Date: 2021-02-05 14:06:21 by Horse
Views: 608

The government accounted for almost all of the headline gains, with 43K of 49K jobs, or 88% of all.

Poster Comment:

This won't last long. Neither will $4 trillion annual budget deficits.

At this rate whoever becomes President in January 2025 will inherit a $50 trillion national debt. Suppose the interest rate due to inflation rose to 10%. That would add $5 trillion to our annual $4 trillion budget deficit.

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#1: Pinguinite    To: Horse (#0)

At this rate whoever becomes President in January 2025 will inherit a $50 trillion national debt. Suppose the interest rate due to inflation rose to 10%. That would add $5 trillion to our annual $4 trillion budget deficit.

That assumes we last that long.

It's one silver lining to Trump losing. He won't be blamed for the crash of the dollar that has a good chance of happening within the next 4 years.

Not that Trump was fiscally responsible. Addressing the debt is something he completely failed to do on his term.

Pinguinite posted on 2021-02-05 14:16:15   Reply   Private Reply

#2: Horse    To: Pinguinite (#1)

If we had Lincoln's Greenbacks, there would be no national debt.

Horse posted on 2021-02-05 14:36:02   Reply   Private Reply

#3: Pinguinite    To: Horse (#2)

If we had Lincoln's Greenbacks, there would be no national debt.

As I understand it, the LG's would just have been the fed gov printing money. Sure it cuts out the fed reserve and incurred debt, but it just replaces it with inflation, as happened pre-1789 with colonial money.

Pinguinite posted on 2021-02-05 17:01:12   Reply   Private Reply

#4: TommyTheMadArtist    To: Horse (#2)

There you go again talking about history and telling the truth. C'MON MAN... nobody has time for that.

TommyTheMadArtist posted on 2021-02-05 18:03:17   Reply   Private Reply

#5: Horse    To: Pinguinite (#3)

No inflation if you increase the money supply at the same rate as GDP.

We can spend the increase in Money Supply into circulation as opposed to taxing them to death.

Horse posted on 2021-02-05 19:38:13   Reply   Private Reply

#6: Pinguinite    To: Horse (#5)

No inflation if you increase the money supply at the same rate as GDP.

That is true but it also requires fiscal discipline which govs as a rule do not possess.

Pinguinite posted on 2021-02-05 20:26:13   Reply   Private Reply

#7: StraitGate    To: Pinguinite (#3)

the LG's would just have been the fed gov printing money.

That's always been my understanding, too. But then, I'm not a money man.

StraitGate posted on 2021-02-05 20:29:08   Reply   Private Reply