nedboy7 Posted September 15, 2022 Posted September 15, 2022 I’ll give credit where credit is due. Donald was absolutely right when he told Wolf Blitzer in 2004: “I’ve been around for a long time and it just seems that the economy does better under the Democrats than the Republicans.” 1
SoCal Deek Posted September 15, 2022 Posted September 15, 2022 1 hour ago, BillStime said: oh honey this is not first time I critiqued the alleged gReAtEsT economic period in our lifetime - per the cult. If and when you finally get out of junior high school you’ll be better equipped to understand the economy.
BillStime Posted September 15, 2022 Posted September 15, 2022 1 minute ago, SoCal Deek said: If and when you finally get out of junior high school you’ll be better equipped to understand the economy. Trust the process
nedboy7 Posted September 15, 2022 Posted September 15, 2022 27 minutes ago, SoCal Deek said: If and when you finally get out of junior high school you’ll be better equipped to understand the economy. Sounds like you need some more school yourself.... Trump took every opportunity while campaigning to tout gains in the stock market as evidence of a booming U.S. economy. On Nov. 24, 2020, Trump even broke his post-election silence to hold a minute-long news conference to tout the Dow Jones Industrial Average trading at the 30,000 mark. "The stock market’s just broken 30,000. Never been broken, that number, that’s a sacred number," the president said. "I just want to congratulate all the people within the administration that worked so hard." Stock markets have rallied significantly, bouncing back sharply after a March fall to soar to record highs as Trump was in office -- despite the rest of the economy largely receding and suffering. "The stock market is up phenomenally and the bond market too, so wealthy investors who own most of it benefited," Frankel said of economic wins during Trump's tenure. Much of the stock market gains, however, economists link to expansionary policy from the Federal Reserve, which is independent of Trump -- and Trump has notably even taken steps to weaken the Fed’s independence. Expansionary policy aims to inject money into the economy, such as the way the Fed slashed interest rates and made it easier to borrow. The Dow soared by 56% during Trump's presidency. It climbed 148% under Obama, it fell by 26.5% under Bush and climbed 229% under Clinton. Notably, the previous presidents had two terms. At the one term line, the Dow climbed 73.2% under Obama, dropped by 3.7% under Bush and soared 105.8% under Clinton. "It's not Trump because the stock market is going up even more since Biden won the election," Frankel added. Chinn noted that “if you lower interest rates by two to three percentage points, that'll give you a stock market boom.” Another problem with pointing to the stock market as a barometer of the economy is that most of it is owned by the wealthy, and middle- and low-wage workers don't reap the benefits of market gains if they don't own any market shares. In the third quarter of 2020 the wealthiest 10% of households based on net worth own 88% of all total corporate equities and mutual fund shares, according to Federal Reserve data, with the top 1% owning 53%. Shierholz said for most working class and even middle class families, stock market gains are "utterly irrelevant." While Trump didn't create the issue of income inequality in the U.S., his policies will be remembered for creating an economy where the richest prosper while lower-paid families struggle.
SoCal Deek Posted September 15, 2022 Posted September 15, 2022 13 minutes ago, nedboy7 said: Sounds like you need some more school yourself.... Trump took every opportunity while campaigning to tout gains in the stock market as evidence of a booming U.S. economy. On Nov. 24, 2020, Trump even broke his post-election silence to hold a minute-long news conference to tout the Dow Jones Industrial Average trading at the 30,000 mark. "The stock market’s just broken 30,000. Never been broken, that number, that’s a sacred number," the president said. "I just want to congratulate all the people within the administration that worked so hard." Stock markets have rallied significantly, bouncing back sharply after a March fall to soar to record highs as Trump was in office -- despite the rest of the economy largely receding and suffering. "The stock market is up phenomenally and the bond market too, so wealthy investors who own most of it benefited," Frankel said of economic wins during Trump's tenure. Much of the stock market gains, however, economists link to expansionary policy from the Federal Reserve, which is independent of Trump -- and Trump has notably even taken steps to weaken the Fed’s independence. Expansionary policy aims to inject money into the economy, such as the way the Fed slashed interest rates and made it easier to borrow. The Dow soared by 56% during Trump's presidency. It climbed 148% under Obama, it fell by 26.5% under Bush and climbed 229% under Clinton. Notably, the previous presidents had two terms. At the one term line, the Dow climbed 73.2% under Obama, dropped by 3.7% under Bush and soared 105.8% under Clinton. "It's not Trump because the stock market is going up even more since Biden won the election," Frankel added. Chinn noted that “if you lower interest rates by two to three percentage points, that'll give you a stock market boom.” Another problem with pointing to the stock market as a barometer of the economy is that most of it is owned by the wealthy, and middle- and low-wage workers don't reap the benefits of market gains if they don't own any market shares. In the third quarter of 2020 the wealthiest 10% of households based on net worth own 88% of all total corporate equities and mutual fund shares, according to Federal Reserve data, with the top 1% owning 53%. Shierholz said for most working class and even middle class families, stock market gains are "utterly irrelevant." While Trump didn't create the issue of income inequality in the U.S., his policies will be remembered for creating an economy where the richest prosper while lower-paid families struggle. Keep preaching Bernie! 🙄 1
nedboy7 Posted September 15, 2022 Posted September 15, 2022 38 minutes ago, SoCal Deek said: Keep preaching Bernie! 🙄 Hard to understand Isn’t it? facts hurt your brain ha? https://evonomics.com/economists-agree-democratic-presidents-better-making-us-rich-eight-reasons/
SoCal Deek Posted September 15, 2022 Posted September 15, 2022 2 minutes ago, nedboy7 said: Hard to understand Isn’t it? facts hurt your brain ha? https://evonomics.com/economists-agree-democratic-presidents-better-making-us-rich-eight-reasons/ Just speaking from decades of personal / professional experience Ned. You don’t have to agree with it. 1 2
nedboy7 Posted September 15, 2022 Posted September 15, 2022 12 minutes ago, SoCal Deek said: Just speaking from decades of personal / professional experience Ned. You don’t have to agree with it. Yeah why listen to experts when you have your own experience. Keep at it. Sort of like you sat at a football game and saw people of different ethnicity getting along and you thought that was proof of there being no systemic racism. Keep at it.
BillsFanNC Posted September 15, 2022 Posted September 15, 2022 Academics agree that dems are better....at everything! FFS. In other news water is wet, the Patriots cheat and we will all eventually die.
Irv Posted October 12, 2022 Author Posted October 12, 2022 Interest is up and the stock market’s down. You’ll only get mugged if you go downtown. Pretty much sums up our current situation with the moronic Dems and demented Joe. WHAT A MESS!
OrangeBills Posted October 12, 2022 Posted October 12, 2022 On 9/15/2022 at 1:53 PM, nedboy7 said: Sounds like you need some more school yourself.... Trump took every opportunity while campaigning to tout gains in the stock market as evidence of a booming U.S. economy. On Nov. 24, 2020, Trump even broke his post-election silence to hold a minute-long news conference to tout the Dow Jones Industrial Average trading at the 30,000 mark. "The stock market’s just broken 30,000. Never been broken, that number, that’s a sacred number," the president said. "I just want to congratulate all the people within the administration that worked so hard." Stock markets have rallied significantly, bouncing back sharply after a March fall to soar to record highs as Trump was in office -- despite the rest of the economy largely receding and suffering. "The stock market is up phenomenally and the bond market too, so wealthy investors who own most of it benefited," Frankel said of economic wins during Trump's tenure. Much of the stock market gains, however, economists link to expansionary policy from the Federal Reserve, which is independent of Trump -- and Trump has notably even taken steps to weaken the Fed’s independence. Expansionary policy aims to inject money into the economy, such as the way the Fed slashed interest rates and made it easier to borrow. The Dow soared by 56% during Trump's presidency. It climbed 148% under Obama, it fell by 26.5% under Bush and climbed 229% under Clinton. Notably, the previous presidents had two terms. At the one term line, the Dow climbed 73.2% under Obama, dropped by 3.7% under Bush and soared 105.8% under Clinton. "It's not Trump because the stock market is going up even more since Biden won the election," Frankel added. Chinn noted that “if you lower interest rates by two to three percentage points, that'll give you a stock market boom.” Another problem with pointing to the stock market as a barometer of the economy is that most of it is owned by the wealthy, and middle- and low-wage workers don't reap the benefits of market gains if they don't own any market shares. In the third quarter of 2020 the wealthiest 10% of households based on net worth own 88% of all total corporate equities and mutual fund shares, according to Federal Reserve data, with the top 1% owning 53%. Shierholz said for most working class and even middle class families, stock market gains are "utterly irrelevant." While Trump didn't create the issue of income inequality in the U.S., his policies will be remembered for creating an economy where the richest prosper while lower-paid families struggle. So dumb, so misguided. Middle class and poor families are struggling much more now than they were then. And it's going to get materially worse. And to top it off, the set-up is very bad, because the Fed will be counter-productive (raising rates instead of lowering them) and the Fiscal side has no ammo because the idiotic Biden Administration already spent all the printed money on "feel-good" instead of saving it for necessary. NEVER EVER FORGET that moron Bernie Sanders wanted to print SEVEN TRILLION DOLLARS to create his Socialist/Communist fantasy land...we are doomed by the $3 Trillion the moronic Biden Admin Cabal has flexed on us...the net $6T more that Bernie wanted would have ended our society. You people need to get a clue before it's too late. Right now not one freaking thing you Leftists say has any semblance of intelligent/realistic thought embedded in it...it's a joke. And "Election Denier" is the biggest LIE in the history of the world...the Dems denied every election they lost for 20 years You know what, with this education system and this media, we're finally cooked. This stuff is so dumb. 2
nedboy7 Posted October 12, 2022 Posted October 12, 2022 7 hours ago, OrangeBills said: So dumb, so misguided. Middle class and poor families are struggling much more now than they were then. And it's going to get materially worse. And to top it off, the set-up is very bad, because the Fed will be counter-productive (raising rates instead of lowering them) and the Fiscal side has no ammo because the idiotic Biden Administration already spent all the printed money on "feel-good" instead of saving it for necessary. NEVER EVER FORGET that moron Bernie Sanders wanted to print SEVEN TRILLION DOLLARS to create his Socialist/Communist fantasy land...we are doomed by the $3 Trillion the moronic Biden Admin Cabal has flexed on us...the net $6T more that Bernie wanted would have ended our society. You people need to get a clue before it's too late. Right now not one freaking thing you Leftists say has any semblance of intelligent/realistic thought embedded in it...it's a joke. And "Election Denier" is the biggest LIE in the history of the world...the Dems denied every election they lost for 20 years You know what, with this education system and this media, we're finally cooked. This stuff is so dumb. Wow you are triggered ha? When you say this media do you include Alex Jones? Cause that dude is toast!
OrangeBills Posted October 12, 2022 Posted October 12, 2022 1 hour ago, nedboy7 said: Wow you are triggered ha? When you say this media do you include Alex Jones? Cause that dude is toast! What does Triggered mean? I don't care in the least about Alex Jones, his program shouldn't exist just like the MSNBC "Mid-Terms Podcast" shouldn't exist either. People should live their lives, Politics should not be a "thing", it should just be a function. I notice you didn't attempt to answer any of the points I made, and I understand, there are no answers. Only general Democrat incompetence that I hope doesn't sink us all. You'll notice that "barely a Democrat anymore" Jamie Dimon is now out in force all over warning about how bad things are gonna get....I was asked today why that is? And the answer is because he sees noone of competence in any room in Washington right now. The President is gone, the VP is a zero, Schumer is a clown, Pelosi is, frankly, a never-was...the Cabinet is pathetic and makes Trump's look like the Manhattan Project. Dimon is trying to signal to people that we're in real trouble. The problem is, our gov't itself is the GD problem, they've used all our tolls preemptively and now we're stuck with nothing to defend ourselves. The Democrats' Climate Approach is a Smog Reduction strategy, not an energy policy, and millions of people may die globally as a result. Nobody's lives get better by getting a cheap handout, or an artificial lift of minimum wage, and people are now figuring that out. The problem is, you can't change reality. Reality is beautiful. Leftist democrats live in an entirely sanctified dreamworld where their latest feel-good ideas work...but they DON'T here in the real world. And our friends out East in China and Russia know that and they are decidedly using it against us. I hope there's a strand of strategic intelligence in the Biden Administration somewhere, but frankly I don't see it.
nedboy7 Posted October 12, 2022 Posted October 12, 2022 1 hour ago, OrangeBills said: What does Triggered mean? I don't care in the least about Alex Jones, his program shouldn't exist just like the MSNBC "Mid-Terms Podcast" shouldn't exist either. People should live their lives, Politics should not be a "thing", it should just be a function. I notice you didn't attempt to answer any of the points I made, and I understand, there are no answers. Only general Democrat incompetence that I hope doesn't sink us all. You'll notice that "barely a Democrat anymore" Jamie Dimon is now out in force all over warning about how bad things are gonna get....I was asked today why that is? And the answer is because he sees noone of competence in any room in Washington right now. The President is gone, the VP is a zero, Schumer is a clown, Pelosi is, frankly, a never-was...the Cabinet is pathetic and makes Trump's look like the Manhattan Project. Dimon is trying to signal to people that we're in real trouble. The problem is, our gov't itself is the GD problem, they've used all our tolls preemptively and now we're stuck with nothing to defend ourselves. The Democrats' Climate Approach is a Smog Reduction strategy, not an energy policy, and millions of people may die globally as a result. Nobody's lives get better by getting a cheap handout, or an artificial lift of minimum wage, and people are now figuring that out. The problem is, you can't change reality. Reality is beautiful. Leftist democrats live in an entirely sanctified dreamworld where their latest feel-good ideas work...but they DON'T here in the real world. And our friends out East in China and Russia know that and they are decidedly using it against us. I hope there's a strand of strategic intelligence in the Biden Administration somewhere, but frankly I don't see it. There is no arguing with someone as stupid and one sided as you. Flame away.
Over 29 years of fanhood Posted October 13, 2022 Posted October 13, 2022 (edited) On 9/15/2022 at 1:53 PM, nedboy7 said: Sounds like you need some more school yourself.... Trump took every opportunity while campaigning to tout gains in the stock market as evidence of a booming U.S. economy. On Nov. 24, 2020, Trump even broke his post-election silence to hold a minute-long news conference to tout the Dow Jones Industrial Average trading at the 30,000 mark. "The stock market’s just broken 30,000. Never been broken, that number, that’s a sacred number," the president said. "I just want to congratulate all the people within the administration that worked so hard." Stock markets have rallied significantly, bouncing back sharply after a March fall to soar to record highs as Trump was in office -- despite the rest of the economy largely receding and suffering. "The stock market is up phenomenally and the bond market too, so wealthy investors who own most of it benefited," Frankel said of economic wins during Trump's tenure. Much of the stock market gains, however, economists link to expansionary policy from the Federal Reserve, which is independent of Trump -- and Trump has notably even taken steps to weaken the Fed’s independence. Expansionary policy aims to inject money into the economy, such as the way the Fed slashed interest rates and made it easier to borrow. The Dow soared by 56% during Trump's presidency. It climbed 148% under Obama, it fell by 26.5% under Bush and climbed 229% under Clinton. Notably, the previous presidents had two terms. At the one term line, the Dow climbed 73.2% under Obama, dropped by 3.7% under Bush and soared 105.8% under Clinton. "It's not Trump because the stock market is going up even more since Biden won the election," Frankel added. Chinn noted that “if you lower interest rates by two to three percentage points, that'll give you a stock market boom.” Another problem with pointing to the stock market as a barometer of the economy is that most of it is owned by the wealthy, and middle- and low-wage workers don't reap the benefits of market gains if they don't own any market shares. In the third quarter of 2020 the wealthiest 10% of households based on net worth own 88% of all total corporate equities and mutual fund shares, according to Federal Reserve data, with the top 1% owning 53%. Shierholz said for most working class and even middle class families, stock market gains are "utterly irrelevant." While Trump didn't create the issue of income inequality in the U.S., his policies will be remembered for creating an economy where the richest prosper while lower-paid families struggle. Yeah probably and Biden will be remembered for creating an economy where only the Uber Uber wealthy and elite prosper and everyone else everyone else.. struggles mightily This administration doubled down on bad policy and inflated retirees and the middle class out of financial security. And all those people that liberals call rich… employed responsible workers with families… have been crushed now too. Nobody except for the elites and their buddies are better off today than they were 4 years ago and that’s not a pro last guy message that’s just dismay at the present. Edited October 13, 2022 by Over 29 years of fanhood
RiotAct Posted October 13, 2022 Posted October 13, 2022 Another big down day in the stock markets incoming, it looks like. But hey, no more mean tweets.
nedboy7 Posted October 13, 2022 Posted October 13, 2022 (edited) 11 hours ago, Over 29 years of fanhood said: Yeah probably and Biden will be remembered for creating an economy where only the Uber Uber wealthy and elite prosper and everyone else everyone else.. struggles mightily This administration doubled down on bad policy and inflated retirees and the middle class out of financial security. And all those people that liberals call rich… employed responsible workers with families… have been crushed now too. Nobody except for the elites and their buddies are better off today than they were 4 years ago and that’s not a pro last guy message that’s just dismay at the present. who got rich under Trump? You kidding me? Who got the tax cuts? Not the middle class. Check yourself. 2 minutes ago, nedboy7 said: who got rich under Trump? You kidding me? Who got the tax cuts? Not the middle class. Check yourself. The Tax Cuts and Jobs Act of 2017 (TCJA), passed by President Trump and congressional Republicans, was the biggest reform of the U.S. tax code since 1986. The TCJA lowered income tax rates, especially for higher-income Americans, and it lowered the corporate tax rate from 35% to 21%. Some tax credits and deductions also changed. The standard deduction was nearly doubled (from $6,350 in 2017 to $12,000 in 2018) and the child tax credit was doubled (from $1,000 in 2017 to $2,000 in 2018), but some itemized deductions were limited or eliminated. IRS data on the 2018 tax season released in May 2019 shows that savings for taxpayers were uneven. For example, the average refund was $90 higher, nationally, in 2018 than 2017. But the taxpayers who saw the largest refund increases had an adjusted gross income (AGI) of at least $200,000. Tax returns showing an AGI of less than $100,000 paid less income tax overall, but returns with an AGI just above $100,000 (many middle-class families) owed more tax, on average. Note that this AGI is per tax return, not per taxpayer: A married couple where each spouse has a salary of $65,000 could very well have an AGI of just above $100,000 if they file jointly. On the whole, low-income families appear to have received the least savings, while high-income families saved the most. Middle-class families saw mixed results. The biggest winners from Trump’s tax cuts were probably businesses. Between 2017 and 2018, corporations paid 22.4% less income tax. The total value of refunds issued by the IRS to businesses also increased by 33.8% nationally. this is what’s wrong with Trumpers. I get some criticism of Biden is legit. But you guys have a pretty weird sense of reality about what happened before him. Like claiming somehow the poor did better or that federal spending was somehow less under Trump. Edited October 13, 2022 by nedboy7
nedboy7 Posted October 13, 2022 Posted October 13, 2022 25 minutes ago, RiotAct said: Another big down day in the stock markets incoming, it looks like. But hey, no more mean tweets. you sound like my buddies who watch their 401k every ***** day to tell me how much money they made or lost. Meanwhile clearly not understanding how the stock market works long term. Only idiots freak out over fluctuations of the short term market. 1
mjd1001 Posted October 13, 2022 Posted October 13, 2022 (edited) My opinion is a large part of the issue we have is caused by the people who just hate the other side. If you think anyone who doesn't agree with you is an idiot, you are part of the problem. If you are sure your side is 100% correct (or even 95% correct) you are part of the problem. Think about this, if you LIKE hearing pundits, commentators, news networks make fun of the 'other side' from yours, you are part of the problem. People are sensative to things they like, so try to to think about people attacking 'your side', how about making sure you aren't taking joy in 'revenge' against that that making you feel better. I look at the inflation numbers that just came out today, and I can't help but think an issue is the extremes of both parties. A lot of us so badly want to 'own' the other side, that we have turned away from moderates in our own parties (they are too much like the 'other side') and have elected more people on the extremes. Trump and Marjorie Taylor Green on one side. AOC and Elizabeth Warren on the other side. They are extremes of their own parties. They don't want to work with the other side. Sure, maybe there are rare occastions where the country really needs to be 'shooken up' and those people need roles to do just that, but that is the exception, not the rule. So back to inflation. The worst parts of the inflation report (and inflation issue) are 3 things. Food. Shelter. Wages. At this point further rate hikes may not help those things that much, and will for sure inflict colateral damage on the rest of the economy. The fed has done their job, they can uses soe help from lawmakers now. If we had more 'moderate's in congress on both sides..sure, a lot of us won't like that. Warren doesn't like moderate Dems who don't agree with her and Trump surely hates moderate republicans won' won't back him. But guess what, they work together better. Immigration reform HELPS with wage inflation (lets drastically increase LEGAL immigration and that helps, won't solve but HELPS too rapid wage inflation). Housing. We give money away and have subsidies and tax breaks all over for home builders, lets re-focus those to have builders build more sensible, affordable housing. There are tons of tax breaks for builders to build high end, luxury housing..lets not add to them but take the money there are refocus it. Food inflation. don't even get me started at how much money is spent/tax breaks given to factory (and even family) farms to that MIGHT have been appropriate decades ago but hasn't been changed. Again, refocus that money on the supply chain for food, on producing/growing a more efficient manner. Congress can solve the biggest issues with inflation. But they have to work together and BOTH sides have to take 'victories' and 'losses' in the same bill/law. But with the parties being more polarized, and us, as voters, turning our backs on moderates who will work together because we just cannot STAND the thought of a moderate working with the other side, we are part of the issues we face. 3 minutes ago, mjd1001 said: Edited October 13, 2022 by mjd1001
All_Pro_Bills Posted October 13, 2022 Posted October 13, 2022 14 minutes ago, nedboy7 said: you sound like my buddies who watch their 401k every ***** day to tell me how much money they made or lost. Meanwhile clearly not understanding how the stock market works long term. Only idiots freak out over fluctuations of the short term market. This time is different. It really is. Because those outsized gains over the past few decades with periodic corrections over the course of time have been driven by consistently lower rates. Rates peaked in the early 1980's at about 20% and have been steadily falling. Supporting higher stock and bond prices. That trend is over. And inflation is not being contained by Fed rate hikes. What will they do? Go to 10 or 11 percent? The way our economy is structured and financialized it can't function at those levels. Time to buy "real" assets.
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