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Started By
Message
1
Posted on 10/10/18 at 6:37 pm to TigersHuskers
quote:
Stocks look awful and right now I'm expecting one early on next year.
I wouldn't be worried about a 1 day market down turn. But Real Estate is cooling off and that's my biggest concern. Also, China and other asian country's economies are slowing down. So the signs are there for a recession and coupled with bond yields surging at a very fast rate and the uncertainty of Trump's trade war makes for an interesting next 6 months.
Posted on 10/10/18 at 6:47 pm to tgrbaitn08
quote:
Tariffs
It will hurt some industries, but not enough to cause a recession.
But he better be careful with all that shite..
Posted on 10/10/18 at 7:04 pm to OweO
Ford just announced it expects to lay off 24,000 people due to a 1 billion loss so far from the tarrifs. China's economy is feeling a lot of pain right now. Other Asian economies are starting to be affected. The international monetary fund is estimated $480 billion and rising as the global costs of the tarrifs. Pretty much 100% of economists say the tarrifs are a really bad idea.
Cheap money is ending as well in the U.S. There is a good chance the Dems retake the House and they have already said they will pass legislation to roll back the idiotic trump tax cuts that have already added an extra trillion to the debt and have returned us to trillion dollar deficits. That obviously will get a veto by trump if it passes the Senate (and it might, not all Republican senators are complete idiots and some may vote for it.
Anyway, I dont really care one way or the other. My job is recession proof and I got about a 25k raise and 10k bonus the last recession anyway (2008). I just personally think the combination of tariffs, massive increase in the deficit under trump, and end of cheap money are going to be some strong head winds soon.
We will all see :)
Cheap money is ending as well in the U.S. There is a good chance the Dems retake the House and they have already said they will pass legislation to roll back the idiotic trump tax cuts that have already added an extra trillion to the debt and have returned us to trillion dollar deficits. That obviously will get a veto by trump if it passes the Senate (and it might, not all Republican senators are complete idiots and some may vote for it.
Anyway, I dont really care one way or the other. My job is recession proof and I got about a 25k raise and 10k bonus the last recession anyway (2008). I just personally think the combination of tariffs, massive increase in the deficit under trump, and end of cheap money are going to be some strong head winds soon.
We will all see :)
Posted on 10/10/18 at 7:22 pm to Masterag
quote:
tax breaks
Tax breaks cause recessions? So I guess the inverse is also true and tax hikes grow the economy?
Posted on 10/10/18 at 7:25 pm to fallguy_1978
quote:
Tax breaks cause recessions? So I guess the inverse is also true and tax hikes grow the economy?
Debts and deficits can and do, yes.
Posted on 10/10/18 at 7:29 pm to Tiger n Miami AU83
quote:
Debts and deficits can and do, yes.
I think Trump was stupid for signing that spending bill. It was a disaster. I just find it hilarious that Democrats become deficit/national debt hawks when they aren't in power
Posted on 10/10/18 at 7:32 pm to fallguy_1978
quote:
on how high rates go up. They need to go back to normal levels.
there is no normal.
What is is.
People who sell pattern reading software are con artists.
Posted on 10/10/18 at 7:32 pm to fallguy_1978
quote:
I just find it hilarious that Democrats become deficit/national debt hawks when they aren't in power
Equally as hilarious as the republicans that mysteriously stopped giving a frick as soon as trump was inaugurated.
Posted on 10/10/18 at 7:37 pm to fallguy_1978
In case you dont understand, I will help you out briefly then I'm moving on. As I said, I dont really care. I only care that I will be paying for the shite through higher taxes in the near future as a high wage earner.
When debt becomes really unsustainable, taxes will get jacked way up and spending cut. See austerity measures in Greece, Spain, and the UK in recent years. When that happens to us, and trumps tax cuts are moving us a lot closer to that time a lot faster, it is going to get painful.
The bill always comes due. One thing that annoys me is the dumbasses that voted for trump and his resulting explosion of the deficit are mostly the lower income wage earners. They will suffer by losing jobs when the shite inevitably hits the fan, but it will be my tax dollars that have to fix the problem. It isnt gonna be the people making 40k and paying 4k in federal taxes that end up getting fricked. It's going to be the people making 125k-250k in W2 wages who already pay the highest effective tax rate that take it in the arse.
When debt becomes really unsustainable, taxes will get jacked way up and spending cut. See austerity measures in Greece, Spain, and the UK in recent years. When that happens to us, and trumps tax cuts are moving us a lot closer to that time a lot faster, it is going to get painful.
The bill always comes due. One thing that annoys me is the dumbasses that voted for trump and his resulting explosion of the deficit are mostly the lower income wage earners. They will suffer by losing jobs when the shite inevitably hits the fan, but it will be my tax dollars that have to fix the problem. It isnt gonna be the people making 40k and paying 4k in federal taxes that end up getting fricked. It's going to be the people making 125k-250k in W2 wages who already pay the highest effective tax rate that take it in the arse.
Posted on 10/10/18 at 7:41 pm to TigersHuskers
I’ve been short a while so it can’t come soon enough
Posted on 10/10/18 at 7:45 pm to Tiger n Miami AU83
The federal government is projected to collect record tax revenue in 2018. Cut spending across the board.
The problem is that neither side is willing to make cuts to their pet programs when in power. Military for the right and social programs for the left.
The problem is that neither side is willing to make cuts to their pet programs when in power. Military for the right and social programs for the left.
Posted on 10/10/18 at 7:46 pm to Tiger n Miami AU83
quote:Nice little humble brag there.
It's going to be the people making 125k-250k in W2 wages who already pay the highest effective tax rate that take it in the arse
Posted on 10/10/18 at 7:48 pm to Tiger n Miami AU83
quote:
idiotic trump tax cuts that have already added an extra trillion to the debt and have returned us to trillion dollar deficits.
You can't say these things on here, 95% of the board swears he does no wrong.
Posted on 10/10/18 at 7:49 pm to fallguy_1978
quote:
I just find it hilarious that Democrats become deficit/national debt hawks when they aren't in power ?
Well, right before trump took office when Obama was in power the deficit was what around 400B average his last 2 years? Something like that.
Trump gets and literally the only major legislation he has signed in his term was the spending bill and tax cuts. Literally the only significant pieces of legislation.
And bam, in less than 1 year since he signed them, we have gone from 400b in deficits to over 1 trillion for the foreseeable future. Which is basically until the Dems get back in control and get the deficit back down again.
You tell me which party is better for the debt and deficit.
And I know you are not an idiot and wont use that idiotic talking point about Obama's first couple of years when he literally had no choice but to cut taxes and increase spending to keep the country out of a fricking depression.
Posted on 10/10/18 at 7:50 pm to TigersHuskers
quote:
Oh I'll get it back when the economy recovers but I think it gets ugly early on next year. That's my feeling.
Man, really glad you’re here looking out for us.
Posted on 10/10/18 at 7:50 pm to Tiger n Miami AU83
Those tax cuts created jobs and put money back into our economy.
Posted on 10/10/18 at 7:50 pm to RummelTiger
(no message)
This post was edited on 10/11/18 at 5:55 am
Posted on 10/10/18 at 7:51 pm to fallguy_1978
quote:
The federal government is projected to collect record tax revenue in 2018. Cut spending across the board.
Yeah and it would have collected a frick load more and the debt would not have exploded had trump not passed his idiotic tax cut plan that people like me will pay for in spades in a fee years.
And you let me know the next time the Republicans cut spending. All they do is jack up military spending and cut nothing whatsoever over and over. shite the dems dont even jack all spending combined the way the Republicans jack the military alone. Research discressionary spending under Obama in his second term (in other words after the stimulus package that kept the country from a depression).
This post was edited on 10/10/18 at 7:53 pm
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