[AdamB]

Basically, Manchin made green energy hostage to FF's.

Pretty amusing for Democrats to support it, isn't it? Like maybe it was the plan all along, pay lip service to whatever greenery they could shout about while making sure that their deep pocketed friends got their cut of the pie?

This will lead to record spending and record inflation.

Seems like the spending part has been going on forever, the inflation part is relatively new.

The middle class will be crushed as the inflation "tax" wipes out their standard of living. But big Green and Oil corps. will get fat.

And who do you think the Democan and Republicrat people work for? Like they care about the middle class, and inflation is exactly the plan to devalue the government debt. And impoverish the citizens along the way as a nice side benefit. Sort of like the Greece issue, except at a larger scale.

America only know one response to a debt created crisis: create MORE debt! The final reckoning just got worse.

Oh, don't pretend that current American actions won't flow out into the world at large. American exceptionalsim cuts both ways, when we're good, the world can benefit as well, when we are banana bending stupid, well, the rest of the world suffers as well.

[AdamB]

And just watch the Biden bureaucracy stiff Manchin on those drilling permits by dragging out some process or another and never actually issuing any drilling permits. So Manchin has bargained with the devil and has lost his soul .

Which drilling permits? The ones that have been processed and put out for drilling ever since the initial euphoria of "i hereby stop drilling on federal lands" claim which lasted maybe 6 months? Manchin never had a soul, he's a politician, and doing a GOOD job at making sure he is set for life by the time he leaves office. As expected of an American politician.

[vtsnowedin]

Manchin never had a soul, he's a politician, and doing a GOOD job at making sure he is set for life by the time he leaves office. As expected of an American politician.

Well Manchin turns 75 next month and was already rich from his families coal brokerage business. If he runs for reelection in 2024 that would probably be his last term after holding one office or another for fifty years. I doubt if he cares much about his retirement account.

[AdamB]

Manchin never had a soul, he's a politician, and doing a GOOD job at making sure he is set for life by the time he leaves office. As expected of an American politician.

Well Manchin turns 75 next month and was already rich from his families coal brokerage business.

So he continues in the fine tradition of going to congress to get richer than he started? Certainly his support of the family business, including his own, and his daughters, fits right in with normal politician behavior.

If he runs for reelection in 2024 that would probably be his last term after holding one office or another for fifty years. I doubt if he cares much about his retirement account.

No need after he has had more than enough time to solidify future income with the kind of legislation he has allowed to pass. The entire point of being a politician.

[vtsnowedin]

Manchin never had a soul, he's a politician, and doing a GOOD job at making sure he is set for life by the time he leaves office. As expected of an American politician.

Well Manchin turns 75 next month and was already rich from his families coal brokerage business.

So he continues in the fine tradition of going to congress to get richer than he started? Certainly his support of the family business, including his own, and his daughters, fits right in with normal politician behavior.

If he runs for reelection in 2024 that would probably be his last term after holding one office or another for fifty years. I doubt if he cares much about his retirement account.

No need after he has had more than enough time to solidify future income with the kind of legislation he has allowed to pass. The entire point of being a politician.

Perhaps you miss my point. After another term he would retire at age 82 and probably based on statistics not be retired long. Just like Pelosi and Biden he is so old he never left time to actually spend and enjoy the riches they have accumulated.
Perhaps their grand children will enjoy burning through the millions?

[Doly]

And who do you think the Democan and Republicrat people work for?

Themselves, obviously.

Like they care about the middle class, and inflation is exactly the plan to devalue the government debt. And impoverish the citizens along the way as a nice side benefit.

I wouldn't assume that any politician understands money. In fact, the way they behave strongly suggests that they don't. I'm not sure what they are trying to achieve with their money policies, but it's irrelevant, since in order to achieve what they want they would have to know what they are doing in the first place.

[vtsnowedin]

And who do you think the Democan and Republicrat people work for?

Themselves, obviously.

Like they care about the middle class, and inflation is exactly the plan to devalue the government debt. And impoverish the citizens along the way as a nice side benefit.

I wouldn't assume that any politician understands money. In fact, the way they behave strongly suggests that they don't. I'm not sure what they are trying to achieve with their money policies, but it's irrelevant, since in order to achieve what they want they would have to know what they are doing in the first place.

Your cynicism is showing but in this case you have it well placed.
Using inflation to devalue the public debt works of course but I see no reason that they would deliberately impoverishing the citizens at the same time. After all those citizens are the paying customers of their corporations and many of them are their stockholders through their retirement accounts.
So they are doing that by accident ,not knowing how the economy really works.

[AdamB]

Perhaps you miss my point. After another term he would retire at age 82 and probably based on statistics not be retired long. Just like Pelosi and Biden he is so old he never left time to actually spend and enjoy the riches they have accumulated.

They enjoy them in the moments they aren't working. Which, if my understanding of the length of time Congress is in session, it means that a working American does about 240 years a year of work, and recently Congress does like 130.

Are you implying they don't have sufficient time to, in Manchins case, enjoy the spoils of their "work"?

Perhaps their grand children will enjoy burning through the millions?

Once you have more than you need to spend on what you enjoy, why would you otherwise be working? I'm eligible to retire right now, full retirement except I've got a little time before full or full+ social security, investments and savings, even more headed my way when my aged parents pass away. My wife is younger than I am, it sure isn't kids I plan on showering with liquidity, it is the wife. So sure, Manchin can shower his descendants with whatever situation he can rig for them through his influence sales.

[AdamB]

Like they care about the middle class, and inflation is exactly the plan to devalue the government debt. And impoverish the citizens along the way as a nice side benefit.

I wouldn't assume that any politician understands money.

Quite possible. Certainly peak oilers can't be counted on to know bubcuss about geology, let alone economics, petroleum engineering, etc etc.

[AdamB]

So they are doing that by accident ,not knowing how the economy really works.

Or Doly is right and they don't know squat about economics. Or much of anything. But they do ACCOMPLISH their own enrichment while in office. What an interesting coincidence...win Federal public office....do favors....get out and be rich. What an interesting correlation....win federal office and come out being worth far more than when you went in.

[theluckycountry]

I wouldn't assume that any politician understands money. In fact, the way they behave strongly suggests that they don't..

They are like academics in that regard, living their whole lives in an insulated bubble chasing money, grants and gratuities, doled out by big businesses with a specific agenda. Much of the scientific papers now are unverifiable, they are just putting out shite in the media and politicians lap this up if it suits their agenda. As for economics? Well that's not even a science, it's pseudo-science.

https://www.sciencedaily.com/releases/2 ... 092605.htm
https://www.upi.com/Science_News/2021/0 ... 621892627/

[vtsnowedin]

........What an interesting coincidence...win Federal public office....do favors....get out and be rich. .......

Funny that they seldom go to the get out route and keep in there building ever bigger fortunes they never get around to spending.

[AdamB]

........What an interesting coincidence...win Federal public office....do favors....get out and be rich. .......

Funny that they seldom go to the get out route and keep in there building ever bigger fortunes they never get around to spending.

Depends on whether or not you want to know your wife and kids will be taken care of in the event of your demise. Generational wealth is the way the rich stay rich in America...best way to become a millionaire in our world of business's not paying a living wage? Inherit it.

[vtsnowedin]

Generational wealth is the way the rich stay rich in America...best way to become a millionaire in our world of business's not paying a living wage? Inherit it.

Actually a lot of people do pretty well marrying it. John Kerry for example.

[Plantagenet]

Generational wealth is the way the rich stay rich in America...best way to become a millionaire in our world of business's not paying a living wage? Inherit it.

Actually a lot of people do pretty well marrying it. John Kerry for example.

In reality the vast majority of people who become millionaires in the USA do so by going to school and becoming talented professionals who earn high salaries. Doctors, lawyer, computer programmers etc etc. earn very good money these days.

There are also large numbers of people who make a lot money starting up small businesses, or running franchise restaurants like McDonalds.

Several million people in the USA have become millionaires by saving and investing through their retirement accounts.

Many people become millionaires by buying small apartment buildings or a number of rental units and then collecting rents.

And some People can even become millionaires just by buying their own house and watching as its value inflates. For example....right now the average price of home in Orange Country is 1.3 million dollars, and similarly high prices can be found in nice areas all over California.

And a very large number of people become millionaires each year just because they are so good at playing football, basketball or baseball.


Show me the Money!!!!

Cheers!

[vtsnowedin]

There are about 22 million millionaires in the US.I'll bet less then 2000 of them are athletes or rock stars.

[AdamB]

There are about 22 million millionaires in the US.I'll bet less then 2000 of them are athletes or rock stars.

I'd bet the same. I know some old farts who are millionaires, a married school teacher and coal miner. Born to Depression Era parents, learned to be frugal. That and steady work during the American union era was enough.