The Trump Economy

[Nanker]

On 12/26/2018 at 2:13 PM, 3rdnlng said:

What, punch the head of a government agency right in the mouth? You could get impeached from your job.

I’m retired. 

[reddogblitz]

The economy has been humming along for the last 2 years. I just hope Trump and the HoR don't blow it with a long shutdown. So far, 800,000 government people aren't getting paid. Then you have the suppliers like food suppliers at national parks and  IT consultants and office supply vendors and the companies that supply them and on and on.  i was on an IT project that got shut down last time.  A lot More people are not getting paid or paid less than just government workers.  Trickle down in action.

 

This could result in weakened consumer confidence which is the driver of a bad economy.  Bill Maher might like it, but a lot of us won't

[DC Tom]

6 hours ago, reddogblitz said:

The economy has been humming along for the last 2 years. I just hope Trump and the HoR don't blow it with a long shutdown. So far, 800,000 government people aren't getting paid. Then you have the suppliers like food suppliers at national parks and  IT consultants and office supply vendors and the companies that supply them and on and on.  i was on an IT project that got shut down last time.  A lot More people are not getting paid or paid less than just government workers.  Trickle down in action.

 

This could result in weakened consumer confidence which is the driver of a bad economy.  Bill Maher might like it, but a lot of us won't

 

The "federal workers not getting paid" thing is a bit overblown, just because of the government payroll schedule.  Most workers still have one paycheck coming to them, on the 16th, so they don't truly start feeling the financial effects of the shutdown until late January.

 

But the vendors that support government work...they are already taking a hit.

[ALF]

US national debt rises $2 trillion under Trump

 

The US national debt stood at $21.974 trillion at the end of 2018, more than $2 trillion higher than when President Donald Trump took office, according to numbers released Thursday by the Treasury 
Department.

 

The debt began to level off at the beginning of Trump's term, but bounced up again last year as the tax cuts passed at the end of 2017 took effect and the dramatically lower corporate tax rate lowered Treasury revenues.

 

As a candidate, Trump promised to "get rid of" the national debt, telling the Washington Post in 2016 that he could make the US debt-free "over a period of eight years."

 

https://www.cnn.com/2019/01/03/politics/trump-us-national-debt/index.html

[B-Man]

"Average earnings climbed to $27.48 an hour."

 

That's up 3.2% in the 12 months (up from a 3.1% increase in November), NPR reports.

Meanwhile, the unemployment rate jumped to 3.9 percent — the highest rate since August — as more people felt confident enough to quit their jobs and look for new ones....

 

 

 

Job growth surges by 312,000 in December

• Nonfarm payrolls surged by 312,000 in December. Economists surveyed by Dow Jones had been expecting payroll growth of just 176,000.
• Wages jumped 3.2 percent from a year ago and 0.4 percent over the previous month. The year-over-year increase is tied with October for the best since April 2009.
• The unemployment rate rose to 3.9 percent as more workers joined the labor force.

Jeff Cox | @JeffCoxCNBCcom

Published 2 Hours Ago  Updated 21 Mins AgoCNBC.com

[DC Tom]

7 minutes ago, ALF said:

US national debt rises $2 trillion under Trump

 

The US national debt stood at $21.974 trillion at the end of 2018, more than $2 trillion higher than when President Donald Trump took office, according to numbers released Thursday by the Treasury 
Department.

 

The debt began to level off at the beginning of Trump's term, but bounced up again last year as the tax cuts passed at the end of 2017 took effect and the dramatically lower corporate tax rate lowered Treasury revenues.

 

As a candidate, Trump promised to "get rid of" the national debt, telling the Washington Post in 2016 that he could make the US debt-free "over a period of eight years."

 

https://www.cnn.com/2019/01/03/politics/trump-us-national-debt/index.html

 

Compare to the three trillion in Obama's first two years in office...

[outsidethebox]

12 minutes ago, DC Tom said:

 

Compare to the three trillion in Obama's first two years in office...

Who can forget the cash for clunkers campaign.  Lol

[TPS]

22 minutes ago, DC Tom said:

 

Compare to the three trillion in Obama's first two years in office...

You're either kidding or "you're an idiot"...?

[3rdnlng]

53 minutes ago, TPS said:

You're either kidding or "you're an idiot"...?

That's what I like, refuting with facts.

[ALF]

1 hour ago, DC Tom said:

 

Compare to the three trillion in Obama's first two years in office...

 

Obama inherited  a crashed economy , you knew that , had to have stimulus to prevent a depression. Two major wars to fund cost mega $

[Deranged Rhino]

1 minute ago, ALF said:

 

Obama inherited  a crashed economy , you knew that , had to have stimulus to prevent a depression. Two major wars to fund cost mega $

 

He ran on ending those wars, instead he expanded them and spent more on them. Just like he ran on ending surveillance abuse but wound up doubling the size of the secret court system and doubling down on 4th and 5th amendment violations because it was politically beneficial to his administration.

[TPS]

16 minutes ago, 3rdnlng said:

That's what I like, refuting with facts.

See Alf's response. But It's silly trying to compare deficits when one expands during a contracting economy and the other expands in a growing economy.

[3rdnlng]

Great job growth in December. 150,000 more jobs than predicted. Wages are up, but so is unemployment. November job growth was also revised upward by 58,000. It's almost as if the workforce is growing dramatically for all of this to be happening. I wonder what will happen when we get a new deal with China?

[ALF]

3 minutes ago, 3rdnlng said:

Great job growth in December. 150,000 more jobs than predicted. Wages are up, but so is unemployment. November job growth was also revised upward by 58,000. It's almost as if the workforce is growing dramatically for all of this to be happening. I wonder what will happen when we get a new deal with China?

 

Was the Dec and Nov job growth retail sales to cover Christmas shopping ? 

[3rdnlng]

26 minutes ago, ALF said:

 

Was the Dec and Nov job growth retail sales to cover Christmas shopping ? 

Seriously?

[reddogblitz]

1 hour ago, Deranged Rhino said:

He ran on ending those wars, instead he expanded them and spent more on them.

 

This is one of the main reasons I voted for Barack the first time and not the second time.

 

I don't like Trump, but I will say he has gone after and even accomplished more campaign promises (whether you like them or not) than any other president I can remember.

[Swill Merchant]

1 hour ago, ALF said:

 

Obama inherited  a crashed economy , you knew that , had to have stimulus to prevent a depression. Two major wars to fund cost mega $

Objection. Assumes facts not in evidence.

[IDBillzFan]

1 hour ago, ALF said:

 

Obama inherited  a crashed economy , you knew that , had to have stimulus to prevent a depression. Two major wars to fund cost mega $

 

Ummmm, notfernuthing, but every single breathing human who paid even the least bit of attention to Obama's "Recover Act" knows it was virtually nothing more than a taxpayer-funded handout to groups and organizations that supported his presidency.

 

Go. Dig. Look at the recipients. See how it was doled out. Oh, sure, there was some money for studying grape genetics, and that was pretty important, but otherwise, everyone knows the truth.

 

There's a reason Obama ultimately has to confess that "shovel ready wasn't as shovel ready as we expected."

 

Because there was no shovel ready. There were only pockets opened. Which is also why every freaking summer was going to be THE summer of recovery.

 

I appreciate not liking Trump, but please, please, please do not try to suggest Obama did anything other than line people's pockets with the Recovery Act.

[The_Dude]

11 minutes ago, LABillzFan said:

 

Ummmm, notfernuthing, but every single breathing human who paid even the least bit of attention to Obama's "Recover Act" knows it was virtually nothing more than a taxpayer-funded handout to groups and organizations that supported his presidency.

 

Go. Dig. Look at the recipients. See how it was doled out. Oh, sure, there was some money for studying grape genetics, and that was pretty important, but otherwise, everyone knows the truth.

 

There's a reason Obama ultimately has to confess that "shovel ready wasn't as shovel ready as we expected."

 

Because there was no shovel ready. There were only pockets opened. Which is also why every freaking summer was going to be THE summer of recovery.

 

I appreciate not liking Trump, but please, please, please do not try to suggest Obama did anything other than line people's pockets with the Recovery Act.

 

I think it's Kiko's fault and I hope he pays dearly.

[Buffalo_Gal]

20 hours ago, plenzmd1 said:

@Buffalo_Gal So’s ya saying it was not related to Pelosi

 

it it was a valiant try, and I had a good chuckle! 

Ok, so look at today in the market... the jobs numbers and wage increases came out yesterday and were outstanding.  Then,  Powell didn't signal that the Feds (yet) had any plans to tank the economy.  So, up 700+ points.  Monday, someone could say Congress is going to pass  X, Y, Z regulations that Trump will sign (unlikely, but as an example), and it will go down 500 points.  ?‍♀️  Up, down, back up, back down... people have gone broke (and made fortunes) trying to read the stock market tea-leaves.