TH3 Posted November 26, 2018 Posted November 26, 2018 On 11/22/2018 at 3:22 PM, GG said: Not arguing about the tax cut juice, but he also rolled back regulations and the proverbial red tape to get the real economic juices going. We've been down this road before. The summer of recovery finally came when you know who exited stage left. I love love love this chestnut.... Please name 3 regulations "rolled back" and some quantitative analysis showing their effect on the economy.... On 11/25/2018 at 7:05 AM, Foxx said: As Predicted, GOP Tax Cuts Prompt Record Tax Revenues Feds Collect Record Taxes in October; Still Run $100B Deficit my other fave....OF COURSE there is record tax revenues....there should be....the economy is numerically its largest......there should be record revenues EVERY year!! 1
GG Posted November 26, 2018 Author Posted November 26, 2018 1 hour ago, TH3 said: I love love love this chestnut.... Please name 3 regulations "rolled back" and some quantitative analysis showing their effect on the economy.... my other fave....OF COURSE there is record tax revenues....there should be....the economy is numerically its largest......there should be record revenues EVERY year!! Too lazy to use Google? These are somewhat dated, but you can imagine the progress since the publications Forbes, WaPo, Brookings
Tiberius Posted November 27, 2018 Posted November 27, 2018 Trump now thinks iPhones need to be more expensive! https://www.bloomberg.com/news/articles/2018-11-26/trump-suggests-10-tariffs-may-be-placed-on-iphones-laptops?utm_source=twitter&utm_medium=social&utm_content=economics&utm_campaign=socialflow-organic&cmpid%3D=socialflow-twitter-economics Quote “Maybe. Maybe. Depends on what the rate is,” the president said, referring to mobile phones and laptops. “I mean, I can make it 10 percent, and people could stand that very easily.” Ya, that would just be wonderful you idiot! Who put this complete clown in office?
3rdnlng Posted November 27, 2018 Posted November 27, 2018 30 minutes ago, Tiberius said: Trump now thinks iPhones need to be more expensive! https://www.bloomberg.com/news/articles/2018-11-26/trump-suggests-10-tariffs-may-be-placed-on-iphones-laptops?utm_source=twitter&utm_medium=social&utm_content=economics&utm_campaign=socialflow-organic&cmpid%3D=socialflow-twitter-economics Ya, that would just be wonderful you idiot! Who put this complete clown in office? Obama and his ilk with an assist from one Hillary Clinton. 1
Chef Jim Posted November 27, 2018 Posted November 27, 2018 46 minutes ago, Tiberius said: Who put this complete clown in office? Winners.
plenzmd1 Posted November 27, 2018 Posted November 27, 2018 This is an interesting article...might be just a wee bit over my head..maybe some of you smarter economics guys can help here. I guess what i did not see in here is the benefit of the strong dollar on the economy today https://www.washingtonpost.com/business/economy/why-the-us-trade-deficit-is-getting-bigger--despite-all-of-trumps-promises/2018/11/27/f2c2dd34-de1f-11e8-b3f0-62607289efee_story.html?utm_term=.f0fd4a5435b7
billsfan89 Posted November 27, 2018 Posted November 27, 2018 On 11/23/2018 at 6:20 PM, Deranged Rhino said: (But they will continue to do so anyway) The fed should raise rates, when the economy starts to slide into a recession you need to be able to cut rates to limit the damage. Right now rates are at 2.5%. That's pretty dam low for what is not considered to be a recession. Typically non recession economies have interest rates at least above 4%. So if you have rates set well below 4% you can't really juice the economy with rate cut when things start to decline because the impact of rate cuts will be lower. I think the fed needs to have rates at least around 4% by the end of 2019 and hold them stable until a recession comes in 2020 or 2021.
Deranged Rhino Posted November 27, 2018 Posted November 27, 2018 Just now, billsfan89 said: The fed should raise rates, when the economy starts to slide into a recession you need to be able to cut rates to limit the damage. Right now rates are at 2.5%. That's pretty dam low for what is not considered to be a recession. Typically non recession economies have interest rates at least above 4%. So if you have rates set well below 4% you can't really juice the economy with rate cut when things start to decline because the impact of rate cuts will be lower. I think the fed needs to have rates at least around 4% by the end of 2019 and hold them stable until a recession comes in 2020 or 2021. They'll keep raising rates into 2019. By mid 2019, the economy will bust - and the Fed will be blamed. (imo)
billsfan89 Posted November 27, 2018 Posted November 27, 2018 Just now, Deranged Rhino said: They'll keep raising rates into 2019. By mid 2019, the economy will bust - and the Fed will be blamed. I think 2019 the economy will be on the sugar high of tax cuts and deregulation. Under 3% growth but significantly above 2%. 2020 will be where it gets interesting. The sugar high will be starting to fade by then 3 years into new tax rates and the fed rate hikes will not help either.
3rdnlng Posted November 27, 2018 Posted November 27, 2018 2 minutes ago, Deranged Rhino said: They'll keep raising rates into 2019. By mid 2019, the economy will bust - and the Fed will be blamed. (imo) Well, since the Fed is part of the government why can't Trump just order them to do what he wants? 2
Deranged Rhino Posted November 27, 2018 Posted November 27, 2018 1 minute ago, billsfan89 said: I think 2019 the economy will be on the sugar high of tax cuts and deregulation. Under 3% growth but significantly above 2%. 2020 will be where it gets interesting. The sugar high will be starting to fade by then 3 years into new tax rates and the fed rate hikes will not help either. I take your words and others who are better versed in economics on the details such as this. I'm spitballing about the bigger picture/operation for the sake of conversation. What I'm suggesting is that the Fed and the central banking system as a whole is being targeted for restructuring/reform/obliteration by this administration. Trump appointed his guy to the Fed and now is "shocked" the Fed is continuing to raise rates despite Trump believing prior to the appointment it wouldn't happen. That's a lie (from Trump). Trump knew exactly what Powell was going to do, and wants him to do it. Everyone's going to need to take a haircut, and it's going to hurt, but Trump's administration wants to direct that outrage to the Fed rather than to the Oval. The silver lining to the plan is more people than ever are aware of the Fed and the shadiness attached to it. Those numbers will grow through the rest of the year and 2019 as Trump and others in the media will continue to point their fingers at the fed for causing problems. (Once Mueller is behind us, this will become a focal point for the administration)
billsfan89 Posted November 27, 2018 Posted November 27, 2018 12 minutes ago, Deranged Rhino said: I take your words and others who are better versed in economics on the details such as this. I'm spitballing about the bigger picture/operation for the sake of conversation. What I'm suggesting is that the Fed and the central banking system as a whole is being targeted for restructuring/reform/obliteration by this administration. Trump appointed his guy to the Fed and now is "shocked" the Fed is continuing to raise rates despite Trump believing prior to the appointment it wouldn't happen. That's a lie (from Trump). Trump knew exactly what Powell was going to do, and wants him to do it. Everyone's going to need to take a haircut, and it's going to hurt, but Trump's administration wants to direct that outrage to the Fed rather than to the Oval. The silver lining to the plan is more people than ever are aware of the Fed and the shadiness attached to it. Those numbers will grow through the rest of the year and 2019 as Trump and others in the media will continue to point their fingers at the fed for causing problems. (Once Mueller is behind us, this will become a focal point for the administration) I am spitballing too so it's just a guess on my end but I think 2019 stays strong 2020 could go either way. I think that while the Fed is super Shady in general but they are actually doing the right thing in terms of economic policy to raise rates to normal non recession levels while the economy is good. That's responsible policy under the conditions the fed operates in. I don't know enough about if there should even be a central bank in the US but if there is one than raising rates now is the proper thing to do if you are a central bank. You need high rates during a non recession to make cuts an actual stimulus during a recession. I don't think Trump wants to get rid of the fed either. I think he wants control of it because he views the fed as trying to crimp his economy. I think Trump is a corporate thinker who only sees things in quarter to quarter growth and doesn't understand why you need higher interest rates. 1
GG Posted November 27, 2018 Author Posted November 27, 2018 34 minutes ago, billsfan89 said: I don't think Trump wants to get rid of the fed either. I think he wants control of it because he views the fed as trying to crimp his economy. I think Trump is a corporate thinker who only sees things in quarter to quarter growth and doesn't understand why you need higher interest rates. Trump's a real estate and marketing guy, not a corporate guy. He's always railed about interest rates. Corporate guys understand why interest rates fluctuate. 1
Chef Jim Posted November 28, 2018 Posted November 28, 2018 What an awesome day in the market. Thank you President Trump!!! 1
DC Tom Posted November 28, 2018 Posted November 28, 2018 1 minute ago, Chef Jim said: What an awesome day in the market. Thank you President Trump!!! Trump? But this happened on the very day that Obama took credit for US oil production. You think that's a coincidence? 4
3rdnlng Posted November 28, 2018 Posted November 28, 2018 15 minutes ago, DC Tom said: Trump? But this happened on the very day that Obama took credit for US oil production. You think that's a coincidence? No coincidence, Obama single-handily dropped the price of oil by $30 a barrel. It's easy, just turn that little dial on the price marker gun.
whatdrought Posted November 29, 2018 Posted November 29, 2018 https://www.upworthy.com/patagonia-s-ceo-is-donating-company-s-entire-10-m-trump-tax-cut-to-fight-climate-change?c=ufb1&fbclid=IwAR3LhAak5f0mI159VCIA-yNBAZGk7W3r1iJ79DlXrRyQ5ycZh2gvvh2Xk9Y In other news, Liberals are angry that they get to decide how to spend their money. Orange man bad.
Tiberius Posted November 29, 2018 Posted November 29, 2018 18 hours ago, Chef Jim said: What an awesome day in the market. Thank you President Trump!!! What did he do?
Chef Jim Posted November 29, 2018 Posted November 29, 2018 12 minutes ago, Tiberius said: What did he do? Perfect. Thanks for proving my point.
Tiberius Posted November 29, 2018 Posted November 29, 2018 2 minutes ago, Chef Jim said: Perfect. Thanks for proving my point. You don't have a point. You never have and never will.
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