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The Trump Economy


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14 hours 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

So we're starving them out! :thumbsup:

 

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1 hour ago, Buffalo_Gal said:

What China has done in  the last 30 years is amazing: (her second tweet shows how many people they have pulled out of poverty)
 

 

What Japan has done over the same time is astounding.  They've stagnated, if not contracted.

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17 minutes ago, DC Tom said:

What Japan has done over the same time is astounding.  They've stagnated, if not contracted.

 

It would be interesting to overlay manufacturing revenue.  When I was a kid, all the cheap crap said made in Japan on the bottom.  For a long time now it's been China.

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8 minutes ago, DC Tom said:

 

"Social Insurance and Retirement" intake was $179B.  Social Security, Medicare, and "Income Security" outlays were $373B.

 

Holy Jesus, we are *****.  

 

As you were saying about Japan ....

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42 minutes ago, Benjamin Franklin said:

 

Fortunately the fiscally responsible party had two years to fix it and did...oh...they did dick. 

 

But we will build that wall damn it!

Republicans only care about fiscal responsibility when they're out of power.  In power they're Democrat Lite

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1 hour ago, /dev/null said:

Republicans only care about fiscal responsibility when they're out of power.  In power they're Democrat Lite

 

Yes and it really sucks.  ***** Paul Ryan for all his rants about fiscal responsibility over the past 10 years became a turtle when his party gained the white house and majorities .  You'd think a guy like him would want to get something meaningful done before he left office. 

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37 minutes ago, keepthefaith said:

 

Yes and it really sucks.  ***** Paul Ryan for all his rants about fiscal responsibility over the past 10 years became a turtle when his party gained the white house and majorities .  You'd think a guy like him would want to get something meaningful done before he left office. 

Unfortunately, it's all about re-election, and everyone knows it's easier to get re-elected when you're promising goodies to people.  It's one of the reasons that the argument for term-limits is strong;  if these douches could only be there so long, do what's right, and then have to get out, we'd see alot more right getting done.  But so long as their MO is what-does-it-take-to-get-re-elected, this will continue to be a problem.

I wish 'my' side was better about it, but they're just as bad.  At least my side does one half of the equation properly, the lower taxes part.  But we need the other, HARD part, lowering expenditures.  And that will never happen so long as people have to fight to get re-elected.

We need one-and-done political appointees.  Get in, get done what you're voted in for, and leave.  I hate term-limits in that you don't get to keep good people, but it's good that you get the bad ones out.  We can't continue on this path to financial slavery, but until we get people in that will make the necessary, hard changes in, and get the old guard out, we're going down the crapper.

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4 hours ago, /dev/null said:

Republicans only care about fiscal responsibility when they're out of power.  In power they're Democrat Lite

I don't even think they're worthy of that.  This year's deficit is the highest since 2012.

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6 hours ago, TtownBillsFan said:

Unfortunately, it's all about re-election, and everyone knows it's easier to get re-elected when you're promising goodies to people.  It's one of the reasons that the argument for term-limits is strong;  if these douches could only be there so long, do what's right, and then have to get out, we'd see alot more right getting done.  But so long as their MO is what-does-it-take-to-get-re-elected, this will continue to be a problem.

I wish 'my' side was better about it, but they're just as bad.  At least my side does one half of the equation properly, the lower taxes part.  But we need the other, HARD part, lowering expenditures.  And that will never happen so long as people have to fight to get re-elected.

We need one-and-done political appointees.  Get in, get done what you're voted in for, and leave.  I hate term-limits in that you don't get to keep good people, but it's good that you get the bad ones out.  We can't continue on this path to financial slavery, but until we get people in that will make the necessary, hard changes in, and get the old guard out, we're going down the crapper.

1

 

That underlined part is *****. 

 

It's quitting your job when you have bills to pay. Taking a pay cut and buying a Mercedes. 

 

If anything, what the Rs do is worse than what the Ds do. At least the Ds spend more AND raise your taxes. That strategy is f*cked too but it's not as long term f*cked as spending more and raising less.

 

The Rs are pathetic on finances.

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20 minutes ago, Benjamin Franklin said:

 

That underlined part is *****. 

 

It's quitting your job when you have bills to pay. Taking a pay cut and buying a Mercedes. 

 

If anything, what the Rs do is worse than what the Ds do. At least the Ds spend more AND raise your taxes. That strategy is f*cked too but it's not as long term f*cked as spending more and raising less.

 

The Rs are pathetic on finances.

how_to_fart.jpg

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7 hours ago, Benjamin Franklin said:

 

That underlined part is *****. 

 

It's quitting your job when you have bills to pay. Taking a pay cut and buying a Mercedes. 

 

 

Your plane crashing the first time you fly, rain on your wedding day, ten thousand spoons when all you need is a knife...

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More aid to replace lost trade! 

 

https://www.politico.com/story/2018/12/17/trump-farmers-trade-relief-usda-1067716

 

Quote

 

The Trump administration announced Monday a second and “final” round of trade aid for farmers and ranchers burned by retaliatory tariffs, including roughly $4.9 billion in additional direct payments for certain commodity producers.

The second batch of trade relief payments is President Donald Trump’s latest effort to stem the pain inflicted on U.S. agricultural producers by his trade feuds. But just as with the first round, commodity groups are complaining that the aid is not nearly enough to offset the damage from retaliatory duties.

 

 

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On 12/15/2018 at 7:07 AM, Benjamin Franklin said:

 

That underlined part is *****. 

 

It's quitting your job when you have bills to pay. Taking a pay cut and buying a Mercedes. 

 

If anything, what the Rs do is worse than what the Ds do. At least the Ds spend more AND raise your taxes. That strategy is f*cked too but it's not as long term f*cked as spending more and raising less.

 

The Rs are pathetic on finances.

 

There are several different versions of this quote.  I was looking for one from a roman politician but did not find it but this one has the same theme.

 

“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves money from the Public Treasury. From that moment on, the majority always votes for the candidate promising the most benefits from the Public Treasury with the result that a democracy always collapses over loose fiscal policy always followed by dictatorship.”
Alexander Fraser Tyler, “The Decline and Fall of the Athenian Republic”

      

There is no real difference between the R's and the D's.   One is a Mugger and one is a Thief.  One steals your money, the other beats you, and then steals your money.  I am not sure which party is which though.  Either way, they will get your money.

 

There is only one way this will end.   The government will either be overthrown or will declare bankruptcy.  Eventually the can cannot be kicked down the road any longer. 

     

On 12/15/2018 at 2:50 PM, DC Tom said:

 

Your plane crashing the first time you fly, rain on your wedding day, ten thousand spoons when all you need is a knife...

 

      

“Suppose you were an idiot. And suppose you were a member of Congress. But I repeat myself.”

Mark Twain

https://jim.com/liberquo.htm

A good collection of quotes.   When I saw the above I thought of you.

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7 minutes ago, Greybeard said:

  

“Suppose you were an idiot. And suppose you were a member of Congress. But I repeat myself.”

Mark Twain

https://jim.com/liberquo.htm

A good collection of quotes.   When I saw the above I thought of you.

 

Unsurprisingly.  He got that quote from me.

 

I know, it sounds unlikely, time travel and all.  But then...he got the idea for A Connecticut Yankee in King Arthur's Court from somewhere, didn't he?  WAKE UP, SHEEPLE!!!!!

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10 minutes ago, Greybeard said:

 

 

There is only one way this will end.   The government will either be overthrown or will declare bankruptcy.  Eventually the can cannot be kicked down the road any longer.

As long as US government debt is issued in US dollars, the supply of which is under the control of the US central bank, the US will never go bankrupt. Overthrown, possibly...

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As I posted some weeks back, it looks like Trump's trade war is has done nothing to improve the trade balance, and the goods deficit is widening.  This will mean 4thQ Real GDP will come in below 3%, unless there is a "supply side miracle" and business spending picks up....

https://www.wsj.com/articles/u-s-current-account-deficit-widened-in-third-quarter-11545231771?mod=hp_major_pos10

 

 

Quote

The increase in the current-account deficit during the third quarter mainly reflected a $23.95 billion increase in the goods-trade deficit to $227.01 billion, the Commerce Department said Wednesday. 

 

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For those of the "sky is falling" belief the market is still up 11% from when Trump took office.  And why the Fed raised (and typically do so):

 

“The Committee judges that some further gradual increases in the target range for the federal funds rate will be consistent with sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee’s symmetric 2 percent objective over the medium term,”

 

So yes I guess to say the tax cuts lead to interest rate increases you'd be right.  But of course not for the reason that most idiots (who shall remain nameless) think. 

Edited by Chef Jim
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14 minutes ago, Tiberius said:

It was very well explained at the time that the tax cuts would lead to higher interest rates. But just pretend this is all a surprise. Why? Because #noclass 

 

This is pure nonsense.

Higher interest rates are the result increased demand for money.

Tax cuts may well add to other factors and stimulate to a level that would increase economic activity, but that is desirable, as long as debt can be managed, which is an entirely different issue.

Viewing an extremely desirable return to "normal" interest rates as a negative is a silly posture.

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25 minutes ago, sherpa said:

 

This is pure nonsense.

Higher interest rates are the result increased demand for money.

Tax cuts may well add to other factors and stimulate to a level that would increase economic activity, but that is desirable, as long as debt can be managed, which is an entirely different issue.

Viewing an extremely desirable return to "normal" interest rates as a negative is a silly posture.

Your second sentence is pure nonsense.

the Fed sets short term interest rates and can set it any level they want regardless of money demand.

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4 minutes ago, TPS said:

Your second sentence is pure nonsense.

the Fed sets short term interest rates and can set it any level they want regardless of money demand.

 

Nonsense.

The Fed does not "control short term interest rates."

The Fed controls the Fed funds rate, which is the rate banks make overnight loans to each other on money deposited at the Federal Reserve.

They also control the discount rate, which the rate banks pay when they borrow directly from the Federal Reserve.

 

To claim they "can set short term rates at any level they want" is preposterous.

They operate in a free market.

They have a huge influence, but the market determines what interest rates are based on supply and demand.

It is a giant misunderstanding to claim that the Fed controls rates.

In a relatively balanced market, it is easy to make such a claim, but it isn't true.

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