The Trump Economy

[Foxx]

https://twitter.com/AP/status/1071117448789876736

 

[Tiberius]

“President Xi and I want this deal to happen, and it probably will. But if not remember… I am a Tariff Man,” 

 

 

[Buffalo_Gal]

While the unemployment picture for black Americans is still higher than other demographic groups, it had never fallen below 7 percent since the Bureau of Labor Statistics began tracking the statistic in 1972. The rate for Hispanics is 4.5 percent, while whites are at 3.4 percent, and Asians stand at 2.7 percent.

Black unemployment rate tied record low (which also happened under the Trump administration back in May).

 

 

[B-Man]

CHANGE: Average US price of gas drops 22 cents per gallon to $2.51.

 

Have you hugged a fracker today?

 

 

.

 

[Koko78]

On 12/9/2018 at 10:16 AM, Buffalo_Gal said:

While the unemployment picture for black Americans is still higher than other demographic groups, it had never fallen below 7 percent since the Bureau of Labor Statistics began tracking the statistic in 1972. The rate for Hispanics is 4.5 percent, while whites are at 3.4 percent, and Asians stand at 2.7 percent.

Black unemployment rate tied record low (which also happened under the Trump administration back in May).

 

 

 

Proof that Trump's a racist! By putting blacks (and other minorities) to work, he can control them by threats to the economy and their employment!

 

#IMPEACH #RESIST

[plenzmd1]

On 12/9/2018 at 10:16 AM, Buffalo_Gal said:

While the unemployment picture for black Americans is still higher than other demographic groups, it had never fallen below 7 percent since the Bureau of Labor Statistics began tracking the statistic in 1972. The rate for Hispanics is 4.5 percent, while whites are at 3.4 percent, and Asians stand at 2.7 percent.

Black unemployment rate tied record low (which also happened under the Trump administration back in May).

 

 

not much comes out of Trumps mouth that I agree with..but his statement during the election cycle to African Americans that (paraphrasing here) " you have voted Democratic for 50 years and nothing has changed..vote for me what do you have to lose?"..was the one thing I agreed with 100%

[Buffalo_Gal]

Job openings surged at U.S. factories in October.
 

The job opening rate for durable goods manufacturing hit 4 percent, the highest ever recorded in data going back to 2000, according to a report issued Monday by the Department of Labor. That’s an increase from 3.7 percent a month earlier.
 

The figures suggest that tariffs are not hurting U.S. manufacturers.

 

3.5 Million People Drop Off Food Stamps Under Trump
 

More than 3.5 million people have dropped off food stamps since President Donald Trump’s first full month in office, according to the latest data from the U.S. Department of Agriculture (USDA).
 

The most recent USDA data reveals that 38,577,141 Americans received benefits through the Supplemental Nutrition Assistance Program (SNAP)—otherwise known as the federal government program responsible for giving out food stamps—in September 2018.

[Koko78]

2 hours ago, Buffalo_Gal said:

Job openings surged at U.S. factories in October.
 

The job opening rate for durable goods manufacturing hit 4 percent, the highest ever recorded in data going back to 2000, according to a report issued Monday by the Department of Labor. That’s an increase from 3.7 percent a month earlier.
 

The figures suggest that tariffs are not hurting U.S. manufacturers.

 

3.5 Million People Drop Off Food Stamps Under Trump
 

More than 3.5 million people have dropped off food stamps since President Donald Trump’s first full month in office, according to the latest data from the U.S. Department of Agriculture (USDA).
 

The most recent USDA data reveals that 38,577,141 Americans received benefits through the Supplemental Nutrition Assistance Program (SNAP)—otherwise known as the federal government program responsible for giving out food stamps—in September 2018.

 

Praise be Obama!

[/dev/null]

7 hours ago, Buffalo_Gal said:

 

3.5 Million People Drop Off Food Stamps Under Trump
 

More than 3.5 million people have dropped off food stamps since President Donald Trump’s first full month in office, according to the latest data from the U.S. Department of Agriculture (USDA).
 

The most recent USDA data reveals that 38,577,141 Americans received benefits through the Supplemental Nutrition Assistance Program (SNAP)—otherwise known as the federal government program responsible for giving out food stamps—in September 2018.

Why is Trump kicking people off Food Stamps?

[Nanker]

I can’t believe this. Why I heard just today that Nancy Pelosi said that people are losing their jobs and it’s Trump’s fault for wanting to build a wall. 

[Buffalo_Gal]

Rebound: Jobless Claims Return to Near Record Lows
 

The labor market rebounded in the first week of December as the number of jobless claims plummetted.
The number of Americans applying for state unemployment benefits fell to 206,000. Economists had forecast around 225,000.

</snip>

The sharp drop in claims also suggests that the lower-than-expected job growth in November was not a signal of a cooling-off of hiring but an indication of the inability of businesses to find  workers in a tight labor market. Nonfarm payrolls rose by 155,000 jobs in November, below expectations and below the prior month’s 237,000. The unemployment rate held steady at 3.7 percent, a very low level.

</snip>

[plenzmd1]

https://www.yahoo.com/finance/news/trump-tax-cuts-putting-america-203051912.html

 

Hard to know which one to believe..the economy is booming...or we are going to hell in a hand basket as Trump just juiced and economy that was already rolling, and the high from that sugar rush is coming crashing down now

 

The economy grew at a robust 4.2% in the second quarter, the highest level since 2014. But Moody’s Analytics predicts growth of just 2.9% for all of 2018, and 2019 as well. It will then fall to 0.9%, according to the forecasting firm. If so, economic growth under Trump would average just 2.2% per year, almost exactly the same as during President Obama’s second term.

 

The United States’ fiscal strength is set to gradually decline from 2019 onward,” Moody’s Analysts wrote in the report. “A persistent widening of fiscal deficits will push the federal debt and interest burdens to historic levels, which will ultimately weigh on the sovereign credit profile.”

 

 

[DC Tom]

5 minutes ago, plenzmd1 said:

“A persistent widening of fiscal deficits will push the federal debt and interest burdens to historic levels, which will ultimately weigh on the sovereign credit profile.”

 

 

 

I wonder what Ocasio-Cortez has to say about that?  ?

[plenzmd1]

Just now, DC Tom said:

 

I wonder what Ocasio-Cortez has to say about that?  ?

do you really think she can comprehend the idea of a deficit? And the impacts? All someone else money

[3rdnlng]

7 minutes ago, DC Tom said:

 

I wonder what Ocasio-Cortez has to say about that?  ?

 

[TPS]

10 minutes ago, plenzmd1 said:

do you really think she can comprehend the idea of a deficit? And the impacts? All someone else money

It's pretty clear that most people here can't, so she's in good company...

?

[GG]

23 minutes ago, plenzmd1 said:

https://www.yahoo.com/finance/news/trump-tax-cuts-putting-america-203051912.html

 

Hard to know which one to believe..the economy is booming...or we are going to hell in a hand basket as Trump just juiced and economy that was already rolling, and the high from that sugar rush is coming crashing down now

 

The economy grew at a robust 4.2% in the second quarter, the highest level since 2014. But Moody’s Analytics predicts growth of just 2.9% for all of 2018, and 2019 as well. It will then fall to 0.9%, according to the forecasting firm. If so, economic growth under Trump would average just 2.2% per year, almost exactly the same as during President Obama’s second term.

 

The United States’ fiscal strength is set to gradually decline from 2019 onward,” Moody’s Analysts wrote in the report. “A persistent widening of fiscal deficits will push the federal debt and interest burdens to historic levels, which will ultimately weigh on the sovereign credit profile.”

 

 

 

He draws a lot of conclusions that aren't supported (it would help if he linked the report that he's referencing ...)

[DC Tom]

26 minutes ago, plenzmd1 said:

do you really think she can comprehend the idea of a deficit? And the impacts? All someone else money

 

Of course not.  That's why I want to hear her opinion.  It'll be hilarious.

[plenzmd1]

9 minutes ago, GG said:

 

He draws a lot of conclusions that aren't supported (it would help if he linked the report that he's referencing ...)

to be fair, believe those were the conclusions of Moody's, and the report i believe is a paid report., but i will endeavor to track it down!

[GG]

3 minutes ago, plenzmd1 said:

to be fair, believe those were the conclusions of Moody's, and the report i believe is a paid report., but i will endeavor to track it down!

 

I have a stinking suspicion he's referring to a report released a while sago, not "recently"

[plenzmd1]

23 minutes ago, GG said:

 

I have a stinking suspicion he's referring to a report released a while sago, not "recently"

it wss from a report dated 12/12/18..Moodys is not gospel now either

[IDBillzFan]

 

1 hour ago, plenzmd1 said:

do you really think she can comprehend the idea of a deficit? And the impacts? All someone else money

 

She reminds me of Emily Litella.

 

"I don't understand what all this hubub is about with youth in Asia. Why would anyone have a problem with youth in Asia?"

[GG]

56 minutes ago, plenzmd1 said:

it wss from a report dated 12/12/18..Moodys is not gospel now either

 

You don't happen to have a link?

 

It's not like the rating agencies haven't been wrong before

[3rdnlng]

17 minutes ago, LABillzFan said:

 

 

She reminds me of Emily Litella.

 

"I don't understand what all this hubub is about with youth in Asia. Why would anyone have a problem with youth in Asia?"

It's a self of steam thing.

[IDBillzFan]

44 minutes ago, 3rdnlng said:

It's a self of steam thing.

 

As long as we protect our natural race horses and endangered feces!

[Chef Jim]

2 minutes ago, LABillzFan said:

 

As long as we protect our natural race horses and endangered feces!

 

Why on earth are you looking at protecting constipation??

[3rdnlng]

3 minutes ago, LABillzFan said:

 

As long as we protect our natural race horses and endangered feces!

You should be lamb basted for that.

[plenzmd1]

52 minutes ago, GG said:

 

You don't happen to have a link?

 

It's not like the rating agencies haven't been wrong before

Its here..but it is behind a paywall

 

https://www.moodys.com/credit-ratings/United-States-of-America-Government-of-credit-rating-790575

[TPS]

2 hours ago, GG said:

 

I have a stinking suspicion he's referring to a report released a while sago, not "recently"

Seems it's right in line with the majority of analysts regarding current and future deficits, mine included...

[GG]

38 minutes ago, plenzmd1 said:

Its here..but it is behind a paywall

 

https://www.moodys.com/credit-ratings/United-States-of-America-Government-of-credit-rating-790575

 

Thx, I'll see if I can dig up the doc.  I have a feeling he played with the words to fit his article.

[billsfan89]

4 hours ago, plenzmd1 said:

https://www.yahoo.com/finance/news/trump-tax-cuts-putting-america-203051912.html

 

Hard to know which one to believe..the economy is booming...or we are going to hell in a hand basket as Trump just juiced and economy that was already rolling, and the high from that sugar rush is coming crashing down now

 

The economy grew at a robust 4.2% in the second quarter, the highest level since 2014. But Moody’s Analytics predicts growth of just 2.9% for all of 2018, and 2019 as well. It will then fall to 0.9%, according to the forecasting firm. If so, economic growth under Trump would average just 2.2% per year, almost exactly the same as during President Obama’s second term.

 

The United States’ fiscal strength is set to gradually decline from 2019 onward,” Moody’s Analysts wrote in the report. “A persistent widening of fiscal deficits will push the federal debt and interest burdens to historic levels, which will ultimately weigh on the sovereign credit profile.”

 

 

 

Personally my read on the situation is that the economy for the middle class has not improved since the 1970's. In the 1980's Reagan cut taxes and didn't cut spending. He got the top end of the economy going but the manufacturing base and middle class didn't see much overall benefit, wages stagnated. The best thing Reagan did was pursue cutting inflation which did stabilize things for your average consumer but beyond that the economy in the middle started to erode.  

 

In the 1990's Clinton raised taxes moderately but continued on the deregulation and free trade path in order to be a centrist. The economy at the top flourished but the middle class and wages did not see much benefit. Bush II cut taxes and continued with deregulation and it led to a nice sugar high where once again people at the top got rich but manufacturing and middle class wages went down. 

 

Then after the Bush years the economy hit the biggest recession in generations and Obama pushed through new deficit spending (Bush also bailed out the banks) at the same time the fed flooded the market with cheap money (QE) and low interest. It stopped the bleeding and thanks to cheap money and low interest for years the economy at the top got going but wages kept stagnating and manufacturing and middle class jobs didn't grow enough. 

 

Now Trump pumped in some tax cuts and deregulation and its taken a top of an economy that was doing good and juiced it up. But its just not resonating with the average middle class American and the policies aren't addressing longer term needs (Education, Infrastructure, Healthcare, and Energy.) 

 

The tax cuts sugar high should continue in 2019 but in 2020 and certainly by 2021 the economy will hit a recession and the fed will not only have to cut rates but it will also have to do QE again. And honestly that might not be enough to stop the bleeding. 

[Buffalo_Gal]

We knew this buy was coming... CNN is terrible.
 

 

[3rdnlng]

26 minutes ago, Buffalo_Gal said:

We knew this buy was coming... CNN is terrible.
 

 

China had expectations that they were going to be able to get enough soybeans from Argentina to replace soybeans from the U.S. While Argentina had a record crop they were never going to replace all the U.S. soybeans. Placing higher tariffs on our soybeans would be like taxing themselves. They need us.

[/dev/null]

34 minutes ago, Buffalo_Gal said:

We knew this buy was coming... CNN is terrible.
 

 

 

Trump sells american soy to china to make soy milk for ice cream to make Trump's second scoop

[DC Tom]

2 hours ago, Buffalo_Gal said:

We knew this buy was coming... CNN is terrible.
 

 

 

Not true, CNN reported it:

 

New soybean orders from China aren't showing up in trade data -- yet

 

"China didn't buy soybeans before today, there's no proof they did today because it's not in the government data, so it could be a lie."  They went way the hell out of their way to make the story as negative as they possibly could.  Only thing they didn't do is report "Trump caves, allows soybean sales to China."

[TH3]

2 hours ago, Buffalo_Gal said:

We knew this buy was coming... CNN is terrible.
 

 

Tyler Zed huh?  I missed his teachings at Grad School....Did T-Zed mention that China used to buy 6 million tons a month....before Tariff man hit ....they have committed to buy 1.3 million tons at around $7 per unit vs $10 last year during ....order due 1q 2019.....low price due to massive stockpiles .....prices likely won’t bounce back till 2020.....

 

The winning....TZED?

 

Google is your friend

Edited December 14, 2018 by TH3

[3rdnlng]

Well Baskin, Argentina had a record crop so the supply is bigger than the demand, at least temporarily.

[Deranged Rhino]

1 hour ago, TH3 said:

Google is your friend

 

It's not. If you've learned nothing else the past two years, this should be the primary lesson.

[DC Tom]

1 hour ago, TH3 said:

Tyler Zed huh?  I missed his teachings at Grad School....Did T-Zed mention that China used to buy 6 million tons a month....before Tariff man hit ....they have committed to buy 1.3 million tons at around $7 per unit vs $10 last year during ....order due 1q 2019.....low price due to massive stockpiles .....prices likely won’t bounce back till 2020.....

 

The winning....TZED?

 

Google is your friend

 

Shouldn't you be on the air right now, Mr. Lemon?

[Deranged Rhino]