The Trump Economy

[Deranged Rhino]

32 minutes ago, Teddy KGB said:

 

Can you explain why you chose to speak on the matter ?   

 

It's what he does when he trolls: speak up on matters he knows nothing about, belittling them -- until he goes too far and exposes his own ignorance (see the CNN thread) then he creates a new screenname and hides behind that for a few weeks/months. 

 

Rinse, lather, repeat. 

[Benjamin Franklin]

49 minutes ago, Deranged Rhino said:

 

It's what he does when he trolls: speak up on matters he knows nothing about, belittling them -- until he goes too far and exposes his own ignorance (see the CNN thread) then he creates a new screenname and hides behind that for a few weeks/months. 

 

Rinse, lather, repeat. 

 

Did you ever find the guy you were so excited about at the Hyperspace Research Institute?

[GG]

1 hour ago, TPS said:

The $1.5 trillion in Reserves are also on the BS of banks, so why isn't it inflationary? It's clear you don't understand the fundamental causes of inflation.

You clearly underestimate the power of central banks.  And, the majority of Japanese debt is held internally, so the government bond market doesn't have much influence on the yen exchange rate. 

Raytheon is used as one example of how government spending influences the value of a companies shares (wealth creation).  So it appears that you now agree that government spending influences wealth creation....

And the US controls most of the international payments system.  Look what happens when a country gets on our bad side....a dominant military force is also a requirement to be the reserve currency....

 

Please revisit the cause & effect point.  Would you be making the same arguments for the British pound in 1920?  Yes, you would.   The pound was unassailable.

 

What do you think had a higher impact on overall private wealth creation?  Trump adding a new contract to Raytheon’s order book, or US reducing the tax rate on companies’ overseas profits?    One didn’t involve spending a dime.

[Benjamin Franklin]

Just now, GG said:

 

Please revisit the cause & effect point.  Would you be making the same arguments for the British pound in 1920?  Yes, you would.   The pound was unassailable.

 

What do you think had a higher impact on overall private wealth creation?  Trump adding a new contract to Raytheon’s order book, or US reducing the tax rate on companies’ overseas profits?    One didn’t involve spending a dime.

 

Did I just wander into GG-TPS debate? The ***** did I do to deserve this?

 

 

[/dev/null]

19 minutes ago, Benjamin Franklin said:

 

Did I just wander into GG-TPS debate? The ***** did I do to deserve this?

 

 

 

you touched yourself in a naughty way

[DC Tom]

20 minutes ago, Benjamin Franklin said:

 

Did I just wander into GG-TPS debate? The ***** did I do to deserve this?

 

 

 

You accidentally signed up for a 500-level econ course.

[TPS]

44 minutes ago, GG said:

 

Please revisit the cause & effect point.  Would you be making the same arguments for the British pound in 1920?  Yes, you would.   The pound was unassailable.

 

What do you think had a higher impact on overall private wealth creation?  Trump adding a new contract to Raytheon’s order book, or US reducing the tax rate on companies’ overseas profits?    One didn’t involve spending a dime.

Both actions increase the value of their stock. I’m glad you finally acknowledge that government influences wealth creation. 

Edited August 19, 2019 by TPS

[plenzmd1]

3 hours ago, leh-nerd skin-erd said:

Simply not true. The opposition party generally wants people disappointed with the economy.  "What's in it for me" is the benchmark for a regime change. The fact is that a struggling economy rarely touches people like Pelosi, Schumer, McConnell et al in any significant way, so it becomes the flag to carry. 

 

The anti-trumpers argument goes "it'll never work...", "it will temporarily work", "its only working for the rich" and of course "where it works it's a clear sign of racism". 

 

Its boring, old, and repetitive. The Trump tax cuts benefited me and the people who were employed as a result. In the alternative, had that money gone to the govt, it's gone forever, and well, by the time the skim takes place, any benefit I might realize is purely a coincidence.

Hmm, disappointed maybe..but who wants the economy in the tank outside of the very person/persons who benefit from the election results..and that is certainly not 99.8% of people.

 

I do get tired of your last point..I have not heard  one utterance of Trumps economic policies are racist..classest..yes, racist  No!!

 

Where we differ is the effect of the tax cuts..I don't believe they had any meaningful, long term impact..and job creation has not been any greater under Trump than it was Obama..but with a swelling deficit. As I have said a lot in this thread, full employment is here to stay based solely on demographics, and has been predicted for at least a decade.and will prolly be that way even in a recessionary environment

 

Problem is in a recessionary period, Trump has diminished levers to pull now to stimulate growth..he has already busted his nut when he did not have too.

[DC Tom]

40 minutes ago, plenzmd1 said:

Hmm, disappointed maybe..but who wants the economy in the tank outside of the very person/persons who benefit from the election results..and that is certainly not 99.8% of people.

 

I do get tired of your last point..I have not heard  one utterance of Trumps economic policies are racist..classest..yes, racist  No!!

 

 

You need to read more.

 

https://publicintegrity.org/business/how-trumps-tax-cuts-favor-whites-over-minorities/

https://www.scmp.com/comment/insight-opinion/united-states/article/2152291/donald-trumps-racist-vitriol-appeals-his-base

https://democracyjournal.org/briefing-book/racial-equality-under-trump/

[TPS]

2 hours ago, Benjamin Franklin said:

 

Did I just wander into GG-TPS debate? The ***** did I do to deserve this?

 

 

No, you're in the archives from 10 years ago....

[plenzmd1]

25 minutes ago, DC Tom said:

 

You need to read more.

 

https://publicintegrity.org/business/how-trumps-tax-cuts-favor-whites-over-minorities/

https://www.scmp.com/comment/insight-opinion/united-states/article/2152291/donald-trumps-racist-vitriol-appeals-his-base

https://democracyjournal.org/briefing-book/racial-equality-under-trump/

okay, so now i am supposed to read even more left leaning publications than the MSM, which everyone tells me is so biased to not read what they write...so I am confused 

[plenzmd1]

man, if this is correct we are in bigger economic trouble than we thought

 

https://www.washingtonpost.com/business/economy/white-house-officials-eyeing-payroll-tax-cut-in-effort-to-reverse-weakening-economy/2019/08/19/4cab28ec-c2bd-11e9-b72f-b31dfaa77212_story.html

 

Quote

The president’s plea to launch a new phase of “quantitative easing” is shorthand for asking the Fed to pump more money into the economy, a step that could weaken the U.S. dollar. This also is seen as an extreme step that central bankers take when they are trying to urgently address a slumping economy, not a tactic that is employed when the economy is still growing.

 

So, we still saying the economy is roaring? BTW, was funny to hear Trump the other day preach the market is up "60-70% under hin, while it is up 26%. 

[DC Tom]

36 minutes ago, plenzmd1 said:

okay, so now i am supposed to read even more left leaning publications than the MSM, which everyone tells me is so biased to not read what they write...so I am confused 

 

Read everything, whether you agree with it or not.

[plenzmd1]

Just now, DC Tom said:

 

Read everything, whether you agree with it or not.

wish i could..just dont have the time..especially with Monday Night Preseason football on!

[leh-nerd skin-erd]

4 hours ago, plenzmd1 said:

Hmm, disappointed maybe..but who wants the economy in the tank outside of the very person/persons who benefit from the election results..and that is certainly not 99.8% of people.

 

I do get tired of your last point..I have not heard  one utterance of Trumps economic policies are racist..classest..yes, racist  No!!

 

 

3 hours ago, plenzmd1 said:

okay, so now i am supposed to read even more left leaning publications than the MSM, which everyone tells me is so biased to not read what they write...so I am confused 

 

2 hours ago, plenzmd1 said:

wish i could..just dont have the time..especially with Monday Night Preseason football on!

Tired, confused and precious little time on your hands.  

 

You're basically a really homely soccer mom. 

[TPS]

Who are these socialists?

https://www.businessroundtable.org/business-roundtable-redefines-the-purpose-of-a-corporation-to-promote-an-economy-that-serves-all-americans

 

[GG]

14 hours ago, TPS said:

Both actions increase the value of their stock. I’m glad you finally acknowledge that government influences wealth creation. 

 

Very emblematic too.  Spend cash to influence a $50 billion market cap company, and spend no cash to influence a $1 trillion market cap company. 

 

Which one has a greater on total wealth creation if there's a 1% jump?

 

That is in essence the difference in thinking that a government can do a better job in dictating the economy over the private sector.

[leh-nerd skin-erd]

1 hour ago, TPS said:

Who are these socialists?

https://www.businessroundtable.org/business-roundtable-redefines-the-purpose-of-a-corporation-to-promote-an-economy-that-serves-all-americans

 

Interestingly, over the years, I've met with suppliers and vendors for a variety of different businesses, and the two most frequent complaints I've heard have been directed at:

 

Larger developers (business/homes)-notorious late payers, foot draggers, and often willing to forgo paying at all;

 

The State of NY--all of the above, plus systemic apathy to the plight of the vendor who completed the work ordered by the department as to when/if they would eve lr be paid.

 

One friend of mine did a medium-sized contamination cleanup on an emergency basis for NYS that ran about $450k.  They paid their employees, prioritized that job over other paying work and fought tooth and nail to receive payment. Seems to me it went a year or so, and the answer kept coming back "we'll get to you when we get to you.".

[Koko78]

20 minutes ago, leh-nerd skin-erd said:

Interestingly, over the years, I've met with suppliers and vendors for a variety of different businesses, and the two most frequent complaints I've heard have been directed at:

 

Larger developers (business/homes)-notorious late payers, foot draggers, and often willing to forgo paying at all;

 

The State of NY--all of the above, plus systemic apathy to the plight of the vendor who completed the work ordered by the department as to when/if they would eve lr be paid.

 

One friend of mine did a medium-sized contamination cleanup on an emergency basis for NYS that ran about $450k.  They paid their employees, prioritized that job over other paying work and fought tooth and nail to receive payment. Seems to me it went a year or so, and the answer kept coming back "we'll get to you when we get to you.".

 

Then the answer for the contractor becomes 'money up front or call someone else'.

[row_33]

oops the DJIA is back again, i guess all the Cassandras last week were wrong again

 

did they put a single penny on a short position as they gloated about Capitalism's death (for the 15,000th time)