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re: Will trump wreck the economy?
Posted on 6/19/18 at 2:05 pm to Tiger n Miami AU83
Posted on 6/19/18 at 2:05 pm to Tiger n Miami AU83
quote:
What we see now is a downward trajectory in the stock market, rising prices, inflation, increasing interest rates and so forth now that trump has been in office a year.
Link? Preferably a neutral one, if possible?
Genuinely curious. Our paychecks are higher; we'll have less tax burden next year; and the stock market has been up according to my investment. Unemployment numbers are at an all time low. But where is this downward trajectory?
2
Posted on 6/19/18 at 2:10 pm to Tiger n Miami AU83
quote:
What we see now is a downward trajectory in the stock market, rising prices, inflation, increasing interest rates and so forth now that trump has been in office a year.
The market was at an all time high, inflation and rising interest rates are a sign of a healthy economy. Interest rates have been held artificially low by the Fed for a decade.
Posted on 6/19/18 at 2:15 pm to fallguy_1978
A tariff is just a sales tax to you, me, and businesses importing the materials or goods in question.
Like any tax it takes money out of consumers' hands that would otherwise be spent or invested.
To further inflict damage on the economy, any retaliatory tariffs slow demand for U.S. made goods and raw materials.
It's best to get to the negotiating table sooner than later. You can look at it differently through politically-tainted glasses if you like.
Like any tax it takes money out of consumers' hands that would otherwise be spent or invested.
To further inflict damage on the economy, any retaliatory tariffs slow demand for U.S. made goods and raw materials.
It's best to get to the negotiating table sooner than later. You can look at it differently through politically-tainted glasses if you like.
This post was edited on 6/19/18 at 2:23 pm
Posted on 6/19/18 at 2:16 pm to StringedInstruments
quote:
Our paychecks are higher
While yours may be, relative to inflation there has been no real wage growth at the macro level.
quote:
we'll have less tax burden next year;
Not everyone will. And if people didn't take a look at their W4, they may owe money for the first time in their adult lives.
The unemployment numbers are great though, with the caveat that every administration tweaks them to make them look rosier than they actually are. Bill Clinton was the absolute worst in that regard.
quote:
But where is this downward trajectory?
The net effect of the tax law still remains to be seen. It has added to both the deficit and the debt though, but that was by design. The next step is using both of these to leverage cuts to "entitlement" programs.
Posted on 6/19/18 at 2:23 pm to StringedInstruments
Just google Dow Jones and look at a year to date chart.
Pay checks for most are a tiny bit higher but not substantially for most. I just want you to be aware (in a couple of years) when you see a tax hike that quadruples or more that small decrease and lasts for many years that is was necessary to offset all of the additional debt added from the recent cuts. Individuals will end up paying for the permanent corporate cuts and soon, BOOK THAT. Our debt is NOT in ANY way sustainable and all that was done with the recent cuts is shift a larger future burden to individuals. And it is coming SOON. 2-3 years out wait and see. No one is cutting spending, period.
As for unemployment, year, same downward trajectory it has been on under Obama and it has bottomed out now.
I will say Fallguy (great 80s show BTW) is right about rising interest rates and inflation being part of a healthy economy. We will see how quickly though and the trump tarrifs are trade wars are flat out objective stupidity from someone who has no clue WTF he is doing or talking about and is literally a semi-literate economic simpleton that doesn't read and understands practically nothing.
Pay checks for most are a tiny bit higher but not substantially for most. I just want you to be aware (in a couple of years) when you see a tax hike that quadruples or more that small decrease and lasts for many years that is was necessary to offset all of the additional debt added from the recent cuts. Individuals will end up paying for the permanent corporate cuts and soon, BOOK THAT. Our debt is NOT in ANY way sustainable and all that was done with the recent cuts is shift a larger future burden to individuals. And it is coming SOON. 2-3 years out wait and see. No one is cutting spending, period.
As for unemployment, year, same downward trajectory it has been on under Obama and it has bottomed out now.
I will say Fallguy (great 80s show BTW) is right about rising interest rates and inflation being part of a healthy economy. We will see how quickly though and the trump tarrifs are trade wars are flat out objective stupidity from someone who has no clue WTF he is doing or talking about and is literally a semi-literate economic simpleton that doesn't read and understands practically nothing.
This post was edited on 6/19/18 at 2:26 pm
Posted on 6/19/18 at 2:28 pm to TejasHorn
quote:
A tariff is just a sales tax to you, me, and businesses importing the materials or goods in question
I get it. I'm not a fan of the Trump tariffs. I voted for the guy but figured that he'd do some things that I didn't like. I'm more of a Rand Paul man.
This post was edited on 6/19/18 at 2:29 pm
Posted on 6/19/18 at 2:28 pm to The Spleen
quote:
The net effect of the tax law still remains to be seen. It has added to both the deficit and the debt though, but that was by design. The next step is using both of these to leverage cuts to "entitlement" programs.
Not gonna happen. Taxes on individuals will be raised. Entitlements may take a small haircut such as raising the retirement age or changing the inflation indexer, but for the most part large tax hikes no matter which party is in charge is what is going to happen.
Remember George Bush I and "read my lips"? It won't matter which party is in charge and neither will touch entitlements to any significant degree.
Posted on 6/19/18 at 2:50 pm to Tiger n Miami AU83
quote:
We will see how quickly though and the trump tarrifs are trade wars are flat out objective stupidity from someone who has no clue WTF he is doing or talking about and is literally a semi-literate economic simpleton that doesn't read and understands practically nothing.
So you’re a loser then, and you like losing right? Bc we have been on the losing end of trade deals for years, if you’re fine with that then you’re part of the problem. If not, this is what Trump ran his campaign on and is actually one of the few presidents who stands by his promise. Yea it may suck for the time being letting everything play out but don’t be so damn near sighted.
Posted on 6/19/18 at 2:57 pm to Shepherd88
Bet you, like trump did not even know we have an overall economic net trade surplus with Canada did you?
See you repeat trump talking points. But one problem with that... Trump has no idea what he is talking about. He does not read, cant use a computer and appears to be only semi-literate by most accounts. You are repeating the factually incorrect blathering of an ignorant person.
See you repeat trump talking points. But one problem with that... Trump has no idea what he is talking about. He does not read, cant use a computer and appears to be only semi-literate by most accounts. You are repeating the factually incorrect blathering of an ignorant person.
This post was edited on 6/19/18 at 2:59 pm
Posted on 6/19/18 at 3:08 pm to Tiger n Miami AU83
I can't speak to the Canada stuff, seems really stupid and pointless. Like going after your retarded cousin. Don't understand his strategy there.
But for China, it will hurt in the short term but has potential to be a good long term plan. Not guaranteed, but the potential is there. We'll see how it plays out.
But for China, it will hurt in the short term but has potential to be a good long term plan. Not guaranteed, but the potential is there. We'll see how it plays out.
This post was edited on 6/19/18 at 3:09 pm
Posted on 6/19/18 at 3:10 pm to Shepherd88
Think about this...
Republicans are against tarrifs.
Democrats are against tarrifs.
Every economist there is will tell you tarrifs are not good economically and reduce overall wealth.
Then on the other side, by himself, is a salesman (or conman may be more accurate) who does not read, cannot use a computer and who has no relevant background or education on the issue.
I think you can figure out where I am going with this.
Republicans are against tarrifs.
Democrats are against tarrifs.
Every economist there is will tell you tarrifs are not good economically and reduce overall wealth.
Then on the other side, by himself, is a salesman (or conman may be more accurate) who does not read, cannot use a computer and who has no relevant background or education on the issue.
I think you can figure out where I am going with this.
Posted on 6/19/18 at 3:12 pm to Tiger n Miami AU83
Honestly, a country likes ours should have trade deficits. They're usually a good sign of a diverse economy.
But in regards to Canada, we only have a deficit if you take goods into consideration. When you take services into consideration we actually have a surplus. And our economy is around 70% services, so why would you want to disregard that when talking trade?
That was a rhetorical question.
But in regards to Canada, we only have a deficit if you take goods into consideration. When you take services into consideration we actually have a surplus. And our economy is around 70% services, so why would you want to disregard that when talking trade?
That was a rhetorical question.
This post was edited on 6/19/18 at 3:13 pm
Posted on 6/19/18 at 3:14 pm to Tiger n Miami AU83
quote:
We will see how quickly though and the trump tarrifs are trade wars are flat out objective stupidity from someone who has no clue WTF he is doing or talking about and is literally a semi-literate economic simpleton that doesn't read and understands practically nothing.
Guy posting on anonymous message board calls billionaire tycoon who later became president an idiot. Par for the course.
And just FYI, I don't agree with everything Trump does by a Longshot, but your glasses are just as tainted as the Maga fan boys.
Posted on 6/19/18 at 3:16 pm to Tiger n Miami AU83
quote:
who has no relevant background or education on the issue.
Wharton and being advised by the top economists in the country arent relevant education or background? Again, I don't even necessarily disagree with your overall point, but you disqualify yourself by throwing out clearly partisan hyperbole and misstatement
Posted on 6/19/18 at 3:20 pm to Mingo Was His NameO
Trump is likely around average intelligence, possibly even on the low side of that. Money opens doors for unqualified people everyday, so his Wharton pedigree doesn't really impress me. He speaks like a simpleton, admittedly doesn't read, and surrounds himself with "yes" men because he can't stand being challenged. Color me not impressed.
Posted on 6/19/18 at 3:20 pm to The Spleen
quote:
When you take services into consideration we actually have a surplus. And our economy is around 70% services, so why would you want to disregard that when talking trade?
Exactly! Someone has been paying attention which is exactly what I stated a few posts back. I would bet you money trump does not even know this basic fact.
Posted on 6/19/18 at 3:25 pm to Tiger n Miami AU83
I think he does know, but he is purposely misrepresenting the facts so as to create a policy to "correct" his misrepresentation so he can then spin it into a win. One think Trump isn't dumb on is how to spin and manipulate almost any situation to make himself look good.
Posted on 6/19/18 at 3:28 pm to Mingo Was His NameO
quote:
Wharton and being advised by the top economists in the country arent relevant education or background?
1. He used family connections (Freddy trump) to transfer from Fordam. He does not have an MBA from Wharton as he claims. That lie was put to be long ago. Money has privileges.
2. He developed his trade and tarrif beliefs long before any economic advisor ever spoke to him and he is not listening to real economic advisors. He has Larry Kudlow, lol. Kudlow is about as dumb as they come and almost ALWAYS wrong. Just look at his track record of being so wrong it is hard to believe over the years.
Posted on 6/19/18 at 3:28 pm to The Spleen
quote:
Trump is likely around average intelligence, possibly even on the low side of that
And what makes you so smart?
quote:
Money opens doors for unqualified people everyday, so his Wharton pedigree doesn't really impress me.
What an incredibly close minded take.
quote:
He speaks like a simpleton, admittedly doesn't read, and surrounds himself with "yes" men because he can't stand being challenged. Color me not impressed.
I don't disagree with all of that, but if you don't realize that some of that is an "act" then I don't know what to tell you. All politicians panhandle to people, if you think how they talk or what they say isn't planned your ignorant. Obama is the king of that tactic.
Posted on 6/19/18 at 3:29 pm to The Spleen
quote:
One think Trump isn't dumb on is how to spin and manipulate almost any situation to make himself look good.
He has 60 years of experience in that area so I agree it is the one thing he is legitimately good at.
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