Elon speaks out against the “big beautiful bill”
(twitter.com)
You're viewing a single comment thread. View all comments, or full comment thread.
Comments (46)
sorted by:
Deportations are still ongoing, and still being quite public. I don't see inflation going crazy in the future, and I think the economy is going to improve.
Yes, and those public numbers are showing at most 40k and shrinking per month. He’s not even on pace for 100k deportations this year. Inflation is going to increase if this bill passes, that’s undeniable, if the bill helps the economy more than it hurts it won’t be as noticeable, but it will be there. There’s also the problem that more spending will keep the fed rates higher and fuck the housing bubble more.
Considering that Trump is now deporting families as well as the criminals/terrorists suggests to me that they are going to be increasing the deportation rate. Prosecutions against employers means that even without physical deportations, the number of self-deportations are going to continue to increase. I expect that the deportation numbers will continue to increase, and most of the inflow has been shuttered as it is.
The spending means that inflation will take place, but no one besides literally me is pushing for deflation because they have no way to prevent a deflationary spiral that would basically kill the world economy. I expect the spending bill to help the economy a bit, along with further de-regulaiton efforts, so price rises are probably going to continue to be within the target 2% year over year, while wages continue to rise and employment goes up.
There's no good solution for the housing bubble besides further deportations (and to be clear there's only about 400k houses on the market at any given time). Prices of homes aren't going to collapse with a working economy, but the prices might stabilize with increased supplies and increased domestic demand.
These are all hypotheticals and the “self deportations” were thwarted by sanctuary states in the first term and will be again unless action is taken, which hasn’t happened.
This is patently false. The 2% myth is cherry picked, heavily government subsidized products. Wages have not met inflation for decades and are continuing to crash at higher income brackets, the H1B supply chain tied with inflation was enough to gut engineer pay to be 2/3s of its equivalent in the 90s. There’s no provided solution from the Trump admin other than more of the same.
The best solution to a bubble is to pop it before it becomes problematic, it is already too late for this. The average home is 100k more expensive than 3 years ago, the only way it would settle is if we didn’t keep mass importing immigrants and subsidizing their home buying, same with corporations. This is again something that has not been addressed by the Trump admin other than “more of the same”.
Self-deportations haven't been thwarted at all, and of course their hypotheticals, this is month 6th of the administration and midterms are over a year away.
Nothing I said in my 2nd quote is false and you didn't re-buff it either. I didn't say that 2% wasn't cherry picked, the CPI is always a cherry pick. I never said that wages didn't meet inflation. I didn't say anything about higher wages or the H1B supply chain.
I said wages will continue to go up. They will. Will they surpass inflation, probably not for a while, but for the first time in decades they are actually rising. The CPI is what it is and you'll have to deal with that. The wages of engineers are not going to be 2/3rds of what they were by the 90's because basically no wage has done that. I've seen nothing to suggest that higher income brackets are decreasing in money.
Your lying that the administration isn't reducing mass immigration and subsidizing home buying. They're actively deporting them, you're just complaining it's not fast enough. It is not a good idea to pop the housing bubble and let houses fall 80% in value in 6 months because that would implode the entire world economy and probably start several civil wars, a regional war, and a few famines. What the administration is trying to do is grow the economy around the bubble, which should reduce the damage as it deflates. Like I said, if 400k homes are on sale at any given time, and we've removed 100k illegals so far, that is a reduction on the effect of immigration on housing. Your real problem is the amount of homes being rented which are taken off the market for sale.
True, the largest ethnic group is German. They're the descendants of Hessians. Are they even white?