Buffalo_Gal Posted October 26, 2018 Share Posted October 26, 2018 3.4% was expected, comes in at 3.5%, and we all know it will be adjusted up in a few weeks...Gross Domestic Product, 3rd quarter 2018 (advance estimate)Real gross domestic product (GDP) increased at an annual rate of 3.5 percent in the third quarter of 2018 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 4.2 percent. Link to comment Share on other sites More sharing options...
Tiberius Posted October 26, 2018 Share Posted October 26, 2018 Another horrible day on Wall Street. https://www.marketwatch.com/story/us-stock-futures-under-pressure-after-amazon-google-disappoint-2018-10-26 Link to comment Share on other sites More sharing options...
ALF Posted October 31, 2018 Share Posted October 31, 2018 GM offers buyouts to 18,000 employees (salary) GM employees with 12 or more years at the company -- about 18,000 of its 50,000 salaried staff in the United States -- will be given the offer. Typically about 10 to 15% of those eligible take the offers. GM is also dealing with some higher costs associated with tariffs on imported steel and aluminum, which has raised its commodity costs by about $300 million in the third quarter, and could raise costs by $1 billion next year. The automakers have not announced plans to offer buyouts to hourly production workers at their factories, which would require an agreement with the United Autoworkers union. https://www.cnn.com/2018/10/31/business/gm-buyouts/index.html 18,000 salary would mean massive number for hourly Link to comment Share on other sites More sharing options...
Buffalo_Gal Posted October 31, 2018 Share Posted October 31, 2018 U.S. creates 227,000 private-sector jobs in October, ADP says 227,000 actual 178,000 predicted However, September was adjusted down a smidge. Link to comment Share on other sites More sharing options...
IDBillzFan Posted October 31, 2018 Share Posted October 31, 2018 1 hour ago, Buffalo_Gal said: U.S. creates 227,000 private-sector jobs in October, ADP says 227,000 actual 178,000 predicted However, September was adjusted down a smidge. Thanks, Obama! Link to comment Share on other sites More sharing options...
Chef Jim Posted October 31, 2018 Share Posted October 31, 2018 On 10/26/2018 at 8:31 AM, Tiberius said: Another horrible day on Wall Street. https://www.marketwatch.com/story/us-stock-futures-under-pressure-after-amazon-google-disappoint-2018-10-26 So the "Trump Economy" is only responsible for the horrible days on Wall Street? Link to comment Share on other sites More sharing options...
Koko78 Posted November 1, 2018 Share Posted November 1, 2018 1 hour ago, Chef Jim said: So the "Trump Economy" is only responsible for the horrible days on Wall Street? Correct. Everything good that happened after January 20, 2017 is due to Obama's enlightened rule. Everything bad that happens is due to Trump's ineptness. It's not dissimilar to the actual literal fact that everything bad that happened between January 20, 2009 and January 20, 2017 was due to Bush's incompetence, while everything good that happened during that time frame was due to Obama's enlightened rule. Praise be Obama. Link to comment Share on other sites More sharing options...
Kevbeau Posted November 1, 2018 Share Posted November 1, 2018 6 hours ago, ALF said: GM offers buyouts to 18,000 employees (salary) GM employees with 12 or more years at the company -- about 18,000 of its 50,000 salaried staff in the United States -- will be given the offer. Typically about 10 to 15% of those eligible take the offers. GM is also dealing with some higher costs associated with tariffs on imported steel and aluminum, which has raised its commodity costs by about $300 million in the third quarter, and could raise costs by $1 billion next year. The automakers have not announced plans to offer buyouts to hourly production workers at their factories, which would require an agreement with the United Autoworkers union. https://www.cnn.com/2018/10/31/business/gm-buyouts/index.html 18,000 salary would mean massive number for hourly This is becoming the norm in corporate America. The phone carriers do this once year as an annual “cut the tail excercise.” Think Jack Welch’s old bell curve system. So far a lot of companies, including my own have been generous with severance. We’ll see how long that lasts. Technological efficiencies have evolved fast in the corporate space as well. As an example, consider the cheap computing power now available. Think what one person can do from a simple accounting standpoint versus a decade ago. Extrapolate that to HR, purchasing, etc and there’s no need to keep people around who are at the bottom of the curve. For the most part, if you’re good at your job and you have a marketable skill set, there’s nothing to worry about. If anyone with a laptop and a decent work ethic can do your job....may want enroll in some online courses. Link to comment Share on other sites More sharing options...
B-Man Posted November 1, 2018 Share Posted November 1, 2018 (edited) U.S. workers see fastest wage growth in a decade, outpacing inflation. Can you imagine if we had this blistering economy with a Democrat President? The MSM would be covering nothing else. Even people who are generally on the side of President Trump have come to accept that the biggest story in many, many years, and the biggest success story in the American economy that anyone can remember, and which vindicates every conservative principle about taxes and regulation in spectacular fashion, is not even news that merits being reported. So true. by Glenn Reynolds Edited November 1, 2018 by B-Man Link to comment Share on other sites More sharing options...
B-Man Posted November 2, 2018 Share Posted November 2, 2018 Even Never-Trumpers are convinced. Quote Hugh HewittVerified account @hughhewitt 47m47 minutes ago Wow. Economy is on fire. Job creation blew out the estimates (250K v. 188K estimate). All time low unemployment rate for Hispanics. Terrific employment conditions for everyone. Are voters really going to invite @NancyPelsoi and her colleagues back to power? I don't think so. 1 Link to comment Share on other sites More sharing options...
Deranged Rhino Posted November 2, 2018 Share Posted November 2, 2018 https://mobile.twitter.com/kevcirilli/status/1058337580087984130 Link to comment Share on other sites More sharing options...
B-Man Posted November 4, 2018 Share Posted November 4, 2018 . 2 Link to comment Share on other sites More sharing options...
Rob's House Posted November 6, 2018 Share Posted November 6, 2018 https://thehill.com/policy/finance/414042-yearly-wage-growth-rises-to-fastest-rate-since-2008?amp&__twitter_impression=true 1 Link to comment Share on other sites More sharing options...
Chef Jim Posted November 7, 2018 Share Posted November 7, 2018 The market is up big today because the Dems retook The House - Idiot libs that post about a day in the market in a thread about the economy. 1 Link to comment Share on other sites More sharing options...
3rdnlng Posted November 7, 2018 Share Posted November 7, 2018 28 minutes ago, Chef Jim said: The market is up big today because the Dems retook The House - Idiot libs that post about a day in the market in a thread about the economy. The market was going to be up either way the House turned. Certainty is always a positive for the market. The fact that the Senate edged more towards the R's was a positive too. More certainty. Link to comment Share on other sites More sharing options...
Tiberius Posted November 7, 2018 Share Posted November 7, 2018 38 minutes ago, Chef Jim said: The market is up big today because the Dems retook The House - Idiot libs that post about a day in the market in a thread about the economy. Oh, so no one posted that, so you pulled it out of your addled old brain and just pretended a "lib" posted it. Brilliant! You must be really frustrated Link to comment Share on other sites More sharing options...
Chef Jim Posted November 7, 2018 Share Posted November 7, 2018 1 hour ago, Tiberius said: Oh, so no one posted that, so you pulled it out of your addled old brain and just pretended a "lib" posted it. Brilliant! You must be really frustrated Says the idiot liberal who posted the market was having a horrible day in a thread on the economy. You really really suck at this. Link to comment Share on other sites More sharing options...
Tiberius Posted November 7, 2018 Share Posted November 7, 2018 3 minutes ago, Chef Jim said: Says the idiot liberal who posted the market was having a horrible day in a thread on the economy. You really really suck at this. Is that worse than just making up something someone said and posting it? Mine was fact based. You made something up you clown. And you think I suck at this? Link to comment Share on other sites More sharing options...
3rdnlng Posted November 7, 2018 Share Posted November 7, 2018 Gleeful Gator, you suck at everything. You have so much practice sucking that your cheeks are permanently concave. Link to comment Share on other sites More sharing options...
Chef Jim Posted November 7, 2018 Share Posted November 7, 2018 2 minutes ago, Tiberius said: Is that worse than just making up something someone said and posting it? Mine was fact based. You made something up you clown. And you think I suck at this? Seriously?? You have no clue that my post today was just mocking you when you posted that it was horrible day in the market in a thread about the economy? Yeah you suck real bad at this. Question: How's the economy doing today? Link to comment Share on other sites More sharing options...
Tiberius Posted November 7, 2018 Share Posted November 7, 2018 1 minute ago, Chef Jim said: Seriously?? You have no clue that my post today was just mocking you when you posted that it was horrible day in the market in a thread about the economy? Yeah you suck real bad at this. Question: How's the economy doing today? I responded, right? Answer: nice Link to comment Share on other sites More sharing options...
plenzmd1 Posted November 8, 2018 Share Posted November 8, 2018 Again, my main issue with Trump has been and will continue to be the tax cuts and the deficit. Articles like this scare the poop out of me. Long term i just do not see the economy sustaining growth as the deficit increases at record pace. https://finance.yahoo.com/news/ballooning-us-debt-like-boiling-frog-211753177.html 1 Link to comment Share on other sites More sharing options...
Gavin in Va Beach Posted November 8, 2018 Share Posted November 8, 2018 2 minutes ago, plenzmd1 said: Again, my main issue with Trump has been and will continue to be the tax cuts and the deficit. Articles like this scare the poop out of me. Long term i just do not see the economy sustaining growth as the deficit increases at record pace. https://finance.yahoo.com/news/ballooning-us-debt-like-boiling-frog-211753177.html Others here know the economy far better than I do, but when I read that tax revenue collected is higher than it's ever been I don't see that as an indictment of tax cuts but Congress's inability to reign in spending. This is the fault of both parties. Factor in the fact that one party is championing the idea we need more government healthcare, along with their mantra that all entitlements should never be cut but rather increased, and I'm not sure your issue is with Trump. Link to comment Share on other sites More sharing options...
plenzmd1 Posted November 8, 2018 Share Posted November 8, 2018 27 minutes ago, Gavin in Va Beach said: Others here know the economy far better than I do, but when I read that tax revenue collected is higher than it's ever been I don't see that as an indictment of tax cuts but Congress's inability to reign in spending. This is the fault of both parties. Factor in the fact that one party is championing the idea we need more government healthcare, along with their mantra that all entitlements should never be cut but rather increased, and I'm not sure your issue is with Trump. Tax receipts on a year over year basis are declining ..please see attached link. https://www.fiscal.treasury.gov/fsreports/rpt/mthTreasStmt/mts0918.pdf Outside of April, when people were paying taxes based on 2017 income, every single month in calendar year 2018, when the Trump tax cuts hit, revenue is lower compared to the corresponding month of 2017. Add into that Trump's huge uptick in governemnt spending and we have a massive swelling of the debt ..something usually not seen in "greatest economy ever " periods. One usually associates a decrease in federal debt during great economic times. I agree spending needs to come under control, and the issue i not 100% with Trump and Republicans, but when he and his boys like MMcConnell are already laying the groundwork for even bigger spending increases..that is not good for anyone on this board. Add into that his public statement he wants to cut taxes even further.ay yi yay Link to comment Share on other sites More sharing options...
Foxx Posted November 8, 2018 Share Posted November 8, 2018 (edited) 2 hours ago, plenzmd1 said: Again, my main issue with Trump has been and will continue to be the tax cuts and the deficit. Articles like this scare the poop out of me. Long term i just do not see the economy sustaining growth as the deficit increases at record pace. https://finance.yahoo.com/news/ballooning-us-debt-like-boiling-frog-211753177.html were it not for TARP and QE (insert whatever number makes you feel comfortable here (infinity)), i would tend to agree with you. however, i think both these programs, particularly QE smashed to hell any thought that you can't just print money (ie; entering 1's and 0's into a database). the old logical thinking would have dictated that printing that money would have come home to roost by now, that it hasn't, well........ Edited November 8, 2018 by Foxx Link to comment Share on other sites More sharing options...
TPS Posted November 8, 2018 Share Posted November 8, 2018 (edited) 3 hours ago, plenzmd1 said: Again, my main issue with Trump has been and will continue to be the tax cuts and the deficit. Articles like this scare the poop out of me. Long term i just do not see the economy sustaining growth as the deficit increases at record pace. https://finance.yahoo.com/news/ballooning-us-debt-like-boiling-frog-211753177.html I've stated this a few times here: there is never a failed Treasury auction because the 23 Primary Dealer Banks are required to bid and fill it. Take a look at any auction result and you'll see the tenders from the PDs exceed any Treasury offering, easily. 1 hour ago, Foxx said: were it not for TARP and QE (insert whatever number makes you feel comfortable here (infinity)), i would tend to agree with you. however, i think both these programs, particularly QE smashed to hell any thought that you can't just print money (ie; entering 1's and 0's into a database). the old logical thinking would have dictated that printing that money would have come home to roost by now, that it hasn't, well........ Yes, I've had a lot of arguments here about the impact, or lack of, from QE on inflation.... Edited November 8, 2018 by TPS 1 Link to comment Share on other sites More sharing options...
GG Posted November 8, 2018 Author Share Posted November 8, 2018 1 hour ago, TPS said: Yes, I've had a lot of arguments here about the impact, or lack of, from QE on inflation.... It helps to own the world's reserve currency. No one else could get away with it. Now, I'd like to hear a counter argument why we don't need to police the world. Link to comment Share on other sites More sharing options...
TPS Posted November 8, 2018 Share Posted November 8, 2018 (edited) 12 minutes ago, GG said: It helps to own the world's reserve currency. No one else could get away with it. Now, I'd like to hear a counter argument why we don't need to police the world. Not true. It helps to have a central bank that requires of its private banks they bid and fill the auction. Just look at the auction data. The cover to bid ratio is over 3, while it's being reported that foreign purchases are declining. added: let me rephrase that, it may help, but it's not needed. Edited November 8, 2018 by TPS Link to comment Share on other sites More sharing options...
IDBillzFan Posted November 8, 2018 Share Posted November 8, 2018 16 minutes ago, GG said: It helps to own the world's reserve currency. No one else could get away with it. Now, I'd like to hear a counter argument why we don't need to police the world. I'm not worried. According to my BIL, we're going to avoid all of this by getting in on the ground floor of Initiative Q! Who's with me? Link to comment Share on other sites More sharing options...
/dev/null Posted November 13, 2018 Share Posted November 13, 2018 The next Chair of the House Financial Services Committee https://www.washingtontimes.com/news/2018/nov/11/why-wall-street-must-get-ready-for-maxine-waters/ Link to comment Share on other sites More sharing options...
BeginnersMind Posted November 13, 2018 Share Posted November 13, 2018 On 11/8/2018 at 4:28 PM, GG said: It helps to own the world's reserve currency. No one else could get away with it. Now, I'd like to hear a counter argument why we don't need to police the world. Isolationism is the ideal pushed by the new Rs these days. It hurts the brain to think how backwards it is. The freakin Dems are more for free and open trade than the Rs who think we can bring back a manufacturing economy that is a) largely still here and b) gone in other respects for a reason. Link to comment Share on other sites More sharing options...
Nanker Posted November 13, 2018 Share Posted November 13, 2018 Interesting to see the Left dropping their egalitarian mantra of “fair” and have replaced it with the socialist mantra of “free.” Link to comment Share on other sites More sharing options...
Tiberius Posted November 13, 2018 Share Posted November 13, 2018 34 minutes ago, Nanker said: Interesting to see the Left dropping their egalitarian mantra of “fair” and have replaced it with the socialist mantra of “free.” Your own fault. How does a political party blow an election with the best economy since...gees, ww2? You guys just totally suck Link to comment Share on other sites More sharing options...
BeginnersMind Posted November 13, 2018 Share Posted November 13, 2018 32 minutes ago, Nanker said: Interesting to see the Left dropping their egalitarian mantra of “fair” and have replaced it with the socialist mantra of “free.” Assume you're reacting to me mentioning free trade. That used to be a Republican ideal, and one I supported. The Dems don't want it but they are more for free trade than the Rs right now. I don't trust either side to support free trade because it costs some political capital. Link to comment Share on other sites More sharing options...
leh-nerd skin-erd Posted November 13, 2018 Share Posted November 13, 2018 1 hour ago, BeginnersMind said: Isolationism is the ideal pushed by the new Rs these days. It hurts the brain to think how backwards it is. The freakin Dems are more for free and open trade than the Rs who think we can bring back a manufacturing economy that is a) largely still here and b) gone in other respects for a reason. Spinning current buzz word "nationalism" into old buzz word "isolationism" may work for a beginner's mind, but not for those who pay attention to the world. It's akin to suggesting that the country needs to address a problem with "illegal immigration" actually means am individual is against "legal immigration". I was reading the commentary of Peppe Le Macron chiding those who dare to consider the interests of their own country as part of their political agenda. Considering the current and future history of France, the fear over the Brits leaving the EU, and the general condition of Europe we should most certainly walk at a brisk pace in the opposite direction. Link to comment Share on other sites More sharing options...
BeginnersMind Posted November 13, 2018 Share Posted November 13, 2018 1 minute ago, leh-nerd skin-erd said: Spinning current buzz word "nationalism" into old buzz word "isolationism" may work for a beginner's mind, but not for those who pay attention to the world. 2 Bring manufacturing jobs home. We don't need other countries. Withdraw from multinational treaties and agreements. These are a weak intellectual arguments (not yours, but that come from the Twitter-sphere and meme-logic). Isolationism in the context of what Washington meant is irrelevant in 2018, so my use of the term is not meant to imply any equivalence. Washington, reading Hamilton's pen, was advocating a short-term isolationism in order for the fledgling country to have a chance at survival. It was excellent advice at the end of the 18th beginning of the 19th century but we outgrew it. We don't have to be as linked as Europe because we have a natural isolation in the form of our oceans. But that doesn't mean that we should turn our backs on the benefits of free trade and good relations with other countries. Link to comment Share on other sites More sharing options...
Tiberius Posted November 13, 2018 Share Posted November 13, 2018 Just now, BeginnersMind said: Bring manufacturing jobs home. We don't need other countries. Withdraw from multinational treaties and agreements. These are a weak intellectual arguments (not yours, but that come from the Twitter-sphere and meme-logic). Isolationism in the context of what Washington meant is irrelevant in 2018, so my use of the term is not meant to imply any equivalence. Washington, reading Hamilton's pen, was advocating a short-term isolationism in order for the fledgling country to have a chance at survival. It was excellent advice at the end of the 18th beginning of the 19th century but we outgrew it. We don't have to be as linked as Europe because we have a natural isolation in the form of our oceans. But that doesn't mean that we should turn our backs on the benefits of free trade and good relations with other countries. And Washington with Jay's treaty was opening up trade with other countries, not closing it off. We were the only Republican in the world at that that time. We should be supporting other republics today, not allowing out president to draw closer to any murderous dictator that offers him cash, hotels or praise Link to comment Share on other sites More sharing options...
Tiberius Posted November 13, 2018 Share Posted November 13, 2018 Link to comment Share on other sites More sharing options...
TakeYouToTasker Posted November 13, 2018 Share Posted November 13, 2018 (edited) 48 minutes ago, BeginnersMind said: Bring manufacturing jobs home. We don't need other countries. Withdraw from multinational treaties and agreements. These are a weak intellectual arguments (not yours, but that come from the Twitter-sphere and meme-logic). Isolationism in the context of what Washington meant is irrelevant in 2018, so my use of the term is not meant to imply any equivalence. Washington, reading Hamilton's pen, was advocating a short-term isolationism in order for the fledgling country to have a chance at survival. It was excellent advice at the end of the 18th beginning of the 19th century but we outgrew it. We don't have to be as linked as Europe because we have a natural isolation in the form of our oceans. But that doesn't mean that we should turn our backs on the benefits of free trade and good relations with other countries. Words have meanings. You don't get to determine isolationism means something new because it better suits your argument, and the word isolationism carries negative connotations. Nothing being proposed is isolationism. Bringing American steel back into the fold was a national security issue. Withdrawing from multi-national treaties which don't work to the benefit of the United States is the job of a responsible Executive. The United States should not be party to any agreements which don't directly benefit us. Withdrawing from multi-national agreements is even more advantageous, because our law doesn't permit us to be party to agreements which are not ratified as treaties. We do need other countries, but they need us more; and the relationship between us should reflect that. Our relationship with Europe is past it's expiration date as written. They attempted to help rig our most recent Presidential election through their Five Eyes involvement, which is an explicit act of war; and shirk their financial responsibility own national defense and UN funding, pinning us with the bill while they spend their own dollars propping up failing welfare states and chastising us at every turn. As for free trade: free trade is a two way street. It is not beneficial for us to participate in free trade agreements with nations who are not reciprocating, because it puts us at a steep disadvantage. Free trade is the most desirable, but there is not benefit to it until other countries tariff structures are broken. Edited November 13, 2018 by TakeYouToTasker Link to comment Share on other sites More sharing options...
Rob's House Posted November 13, 2018 Share Posted November 13, 2018 President Trump is amazing. After only two years in office he's got liberals defending the constitution, supporting the military, and advocating free trade. The man is a genius. 3 3 Link to comment Share on other sites More sharing options...
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