The Trump Economy

[Teddy KGB]

1 hour ago, LBSeeBallLBGetBall said:

I think I know who Shady used to be. BillsFan-4-Ever. Oddly enough, Shady was the last person to check his profile. His posting style makes sense, as I remember BF4E saying that he had Aspergers. He seemed like a decent guy, just got stuck on certain things.

 

https://www.twobillsdrive.com/community/profile/10009-billsfan-4-ever/

 

Lmao.    That man rode for Ej the way he rides for Zay.           

[LB3]

Just now, Teddy KGB said:

 

Lmao.    That man rode for Ej the way he rides for Zay.           

 I think his battle with Metzelaars over EJ is what got him the ban hammer. He used to love calling out "Faux News" all the time too.

[Teddy KGB]

Just now, LBSeeBallLBGetBall said:

 I think his battle with Metzelaars over EJ is what got him the ban hammer. He used to love calling out "Faux News" all the time too.

 

Good work ??     Maybe he can verify it for us. 

[Tiberius]

This is interesting and probably represents the thinking of a group of people who are looking past the rapid

y closing Trump era to the rise of a New Democratic majority that they might have to deal with: 

 

 

In this 2014 file photo, JPMorgan Chase Chairman and CEO Jamie Dimon listens as President Barack Obama speaks to leading CEOs at the Business Roundtable headquarters in Washington. (Jacquelyn Martin/AP)

By Jena McGregor

August 19 at 10:30 AM

The organization representing the nation’s most powerful chief executives is rewriting how it views the purpose of a corporation, updating its decades-old endorsement of the theory that shareholders’ interests should come above all else.

The new statement, released Monday by the Business Roundtable, suggests balancing the needs of a company’s various constituencies and comes at a time of widening income inequality, rising expectations from the public for corporate behavior and proposals from Democratic lawmakers that aim to revamp or even restructure American capitalism.

“Americans deserve an economy that allows each person to succeed through hard work and creativity and to lead a life of meaning and dignity,” reads the statement from the organization, which is chaired by JPMorgan Chase CEO Jamie Dimon.

The group says its members “share a fundamental commitment to all of our stakeholders,” and commit to doing well by their customers, employees, suppliers and local communities. “Each of our stakeholders is essential,” the group adds. “We commit to deliver value to all of them, for the future success of our companies, our communities and our country.”

The new statement includes 181 signatures of the 192 current members of the Business Roundtable, which represents many of the biggest companies in the United States. While the statement represents at the very least a symbolic change in the group’s thinking, it was not clear how companies would change their practices in light of the new commitments, nor how any changes in behavior would be assessed or monitored.

https://www.washingtonpost.com/business/2019/08/19/lobbying-group-powerful-ceos-is-rethinking-how-it-defines-corporations-purpose/

[SlimShady'sSpaceForce]

4 hours ago, LBSeeBallLBGetBall said:

I think I know who Shady used to be. BillsFan-4-Ever. Oddly enough, Shady was the last person to check his profile. His posting style makes sense, as I remember BF4E saying that he had Aspergers. He seemed like a decent guy, just got stuck on certain things.

 

https://www.twobillsdrive.com/community/profile/10009-billsfan-4-ever/

By checking a profile means that is who I am or was? 

 

I have checked Teddy's profile.  Am I him? 

I have checked DCTom profile.  Am I him?

I have checked Deranged Rhino's profile.  Am I him?

 

I have checked your profile too.    Am I you?  

 

You must be Bray Wyatt then 

Or Mike from Horseheads

 

Have you ever clicked on a profile out of curiosity? 

 

Or  had an accidental click on someones profile?  Christ I do it once or twice a week.  

 

 

Edited August 19, 2019 by ShadyBillsFan

[DC Tom]

7 minutes ago, ShadyBillsFan said:

By checking a profile means that is who I am or was? 

 

I have checked Teddy's profile.  Am I him? 

I have checked DCTom profile.  Am I him?

 

 

You wish.  ?

[Tiberius]

The latest NBC News-Wall Street Journal poll finds: “Amid President Donald Trump’s trade war with China, nearly two-thirds of Americans say they support free trade with foreign countries. ... That represents a new high in the NBC/WSJ survey on this question, and it’s a 7-point increase from the last time it was asked in 2017.” Only 27 percent think free trade is bad.

[LB3]

13 minutes ago, ShadyBillsFan said:

By checking a profile means that is who I am or was? 

 

I have checked Teddy's profile.  Am I him? 

I have checked DCTom profile.  Am I him?

I have checked Deranged Rhino's profile.  Am I him?

 

I have checked your profile too.    Am I you?  

 

You must be Bray Wyatt then 

Or Mike from Horseheads

 

Have you ever clicked on a profile out of curiosity? 

 

Or  had an accidental click on someones profile?  Christ I do it once or twice a week.  

 

 

Quite the meltdown here, BF4E. 

[sherpa]

4 minutes ago, Tiberius said:

The latest NBC News-Wall Street Journal poll finds: “Amid President Donald Trump’s trade war with China, nearly two-thirds of Americans say they support free trade with foreign countries. ... That represents a new high in the NBC/WSJ survey on this question, and it’s a 7-point increase from the last time it was asked in 2017.” Only 27 percent think free trade is bad.

 

Do you think you are knowledgeable regarding the subject of US-China trade?

If you aren't, it is absolutely not free, and has never been.

 

It has been an issue that in the interest of fairness, has needed addressing for at least a decade. 

[Tiberius]

12 minutes ago, sherpa said:

 

Do you think you are knowledgeable regarding the subject of US-China trade?

If you aren't, it is absolutely not free, and has never been.

 

It has been an issue that in the interest of fairness, has needed addressing for at least a decade. 

For sure, but don't do something that causes a recession, puts our farmers on welfare and places higher taxes on American consumers. I'm mean be smart about. Trump does not understand any of this. 

[Benjamin Franklin]

1 hour ago, ShadyBillsFan said:

By checking a profile means that is who I am or was? 

 

I have checked Teddy's profile.  Am I him? 

I have checked DCTom profile.  Am I him?

I have checked Deranged Rhino's profile.  Am I him?

 

I have checked your profile too.    Am I you?  

 

You must be Bray Wyatt then 

Or Mike from Horseheads

 

Have you ever clicked on a profile out of curiosity? 

 

Or  had an accidental click on someones profile?  Christ I do it once or twice a week.  

 

 

 

If you criticize the conspiracists, you’re part of the conspiracy. 

Edited August 19, 2019 by Benjamin Franklin

[Teddy KGB]

23 minutes ago, Benjamin Franklin said:

 

If you criticize the conspiracists, you’re part of the conspiracy. 

 

Maybe you can explain why he’s clicking on a profile that hasn’t posted in years ? 

 

Whatcha got ? 

[leh-nerd skin-erd]

On 8/18/2019 at 9:06 AM, plenzmd1 said:

No one wants a bad economy..what we want is for people to not blindly follow Trump's policies without looking at the actual results. The sugar rush of his tax cuts have worn off, his trade policies are rhetoric are eroding confidence in business leaders causing decrease investments and what may be a slowing economy and a ballooning deficit. Again, growth below 2% without the increase in government spending last quarter..that is not a great economy

 

The problem we have now is not anti Trumpers wanting a bad economy, it is Trump loyalists who will not believe what the numbes are clearly foretelling with a "nothing to see here, all is well" attitude.

Simply not true. The opposition party generally wants people disappointed with the economy.  "What's in it for me" is the benchmark for a regime change. The fact is that a struggling economy rarely touches people like Pelosi, Schumer, McConnell et al in any significant way, so it becomes the flag to carry. 

 

The anti-trumpers argument goes "it'll never work...", "it will temporarily work", "its only working for the rich" and of course "where it works it's a clear sign of racism". 

 

Its boring, old, and repetitive. The Trump tax cuts benefited me and the people who were employed as a result. In the alternative, had that money gone to the govt, it's gone forever, and well, by the time the skim takes place, any benefit I might realize is purely a coincidence.

[GG]

On 8/17/2019 at 12:53 PM, TPS said:

The US has already given up its economic supremacy, and, as I stated, it has nothing to do with MMT.  The economic demise is inevitable, and it is usually associated with finance becoming the dominant "industry," an industry that produces no tangible good.

Please explain why QE is "fundamentally inflationary."  As I've suggested, your errors seem to stem from not understanding the causes of inflation, so please do explain.

If this was true, then please explain why there is no inflation in Japan.  And "some day" is not an answer....do YOU have a theory?

 

The demise of USA's economic supremacy is only inevitable if somebody overtakes it, and it won't be China in its current form.   Your standard for US losing its edge in the '70s is due more to other countries finally getting their act together and increasing their share of global output.  But if you look at any tangible metrics on who's still driving the global economic train, there's still only one country that sits between the Atlantic and Pacific Oceans.  USA's economic growth is consistently higher than the other G8 continues.

 

QE is fundamentally inflationary because the central bank created nearly $3 trillion of assets out of thin air.   I don't know how much more basic it can get.  Just because the Fed parked the assets on its balance sheet doesn't mean it's not inflationary.  Same with Japan, because the only reason BOJ is getting away with inflating its balance sheet is that the currency traders don't have a better Asian benchmark. 

 

That's why I said that Japan is playing with fire by betting that China will never take a more capitalist turn and truly privatizes its economy.   If China makes that move, then Japan is toast.  You are totally underestimating the roles that government bond and currency markets play in determining whether a country experiences inflation or not.  If a sovereign falls out of favor with investors, then there's nothing a central bank can do. 

 

You can't have it both ways.  You can't claim that US will lose its supremacy but then be sanguine about the debt build up.   

 

 

On 8/17/2019 at 12:53 PM, TPS said:

The statement that "deficit spending stimulates an increase in private sector wealth creation" is not the same thing as saying "all private sector wealth creation depends on government actions." I'll say it again for you, government does not create wealth, but it does spur greater wealth creation by the private sector when it deficit spends because it puts more REAL resources to work (like the Raytheon example).  As TRump has shown, government does not have to tax to spend more on Raytheon's "products; in fact, he cut taxes AND increased defense spending--he increased the level of deficit spending!  (I wonder how Raytheon's share prices reacted to Trump's increase in defense spending...?)

 

Yes, the discussion will go nowhere because you don't understand the nature of the argument, as that second sentence indicates.  Where does money come from? How do people and firms pay their taxes?

A complete straw man statement.    

 

Your DoD obsession is a bit overboard in explaining away gov't spending.  Raytheon's annual revenues are only $25 billion.  That's a pittance compared to the overall GDP, and even the DOD budget, the majority of which are personnel and other expenses related to running the bases.    Raytheon's share price increase as a result of new contracts is insignificant to the overall market, unlike movements in other sectors.  For comparison, Apple earns more in one month than Raytheon does in the entire year.    The markets moved much more with anticipation of Apple bringing more cash to the US than anything that happened with Raytheon's contracts.

 

Again, people use US$ because it's the most convenient and liquid.   They will easily move to other currencies (ie method of payment) if the US$ is no longer convenient and liquid.

[LB3]

18 minutes ago, Teddy KGB said:

 

Maybe you can explain why he’s clicking on a profile that hasn’t posted in years ? 

 

Whatcha got ? 

I double checked some old OTW threads where BF4E was a regular poster. It's like Shady picked up right where BF4E left off after about a year away. Plus they basically live in the same place.

 

He can deny it, but I think I Perry Mason'd the shite out of this one. 

 

Holy ***** I'm bored as hell at work today.

[Teddy KGB]

1 minute ago, LBSeeBallLBGetBall said:

I double checked some old OTW threads where BF4E was a regular poster. It's like Shady picked up right where BF4E left off after about a year away. Plus they basically live in the same place.

 

He can deny it, but I think I Perry Mason'd the shite out of this one. 

 

Holy ***** I'm bored as hell at work today.

 

BF4E was a big pot fan as well.     I think we have enough evidence to move forward with the prosecution ???

[SoCal Deek]

1 hour ago, Tiberius said:

For sure, but don't do something that causes a recession, puts our farmers on welfare and places higher taxes on American consumers. I'm mean be smart about. Trump does not understand any of this. 

And you’re Program would be what again? I’m it’s something like keep doing what we’ve been doing until nobody in America has a job, so the government can take over everything and save the day....right?

[Benjamin Franklin]

33 minutes ago, Teddy KGB said:

 

Maybe you can explain why he’s clicking on a profile that hasn’t posted in years ? 

 

Whatcha got ? 

 

I’m trying to imagine caring enough to think of a reason. 

 

Can’t do it. 

[Teddy KGB]

5 minutes ago, Benjamin Franklin said:

 

I’m trying to imagine caring enough to think of a reason. 

 

Can’t do it. 

 

Can you explain why you chose to speak on the matter ?   

[TPS]

29 minutes ago, GG said:

 

The demise of USA's economic supremacy is only inevitable if somebody overtakes it, and it won't be China in its current form.   Your standard for US losing its edge in the '70s is due more to other countries finally getting their act together and increasing their share of global output.  But if you look at any tangible metrics on who's still driving the global economic train, there's still only one country that sits between the Atlantic and Pacific Oceans.  USA's economic growth is consistently higher than the other G8 continues.

 

QE is fundamentally inflationary because the central bank created nearly $3 trillion of assets out of thin air.   I don't know how much more basic it can get.  Just because the Fed parked the assets on its balance sheet doesn't mean it's not inflationary.  Same with Japan, because the only reason BOJ is getting away with inflating its balance sheet is that the currency traders don't have a better Asian benchmark. 

The $1.5 trillion in Reserves are also on the BS of banks, so why isn't it inflationary? It's clear you don't understand the fundamental causes of inflation.

29 minutes ago, GG said:

 

That's why I said that Japan is playing with fire by betting that China will never take a more capitalist turn and truly privatizes its economy.   If China makes that move, then Japan is toast.  You are totally underestimating the roles that government bond and currency markets play in determining whether a country experiences inflation or not.  If a sovereign falls out of favor with investors, then there's nothing a central bank can do. 

 

You can't have it both ways.  You can't claim that US will lose its supremacy but then be sanguine about the debt build up.   

You clearly underestimate the power of central banks.  And, the majority of Japanese debt is held internally, so the government bond market doesn't have much influence on the yen exchange rate. 

29 minutes ago, GG said:

 

 

 

Your DoD obsession is a bit overboard in explaining away gov't spending.  Raytheon's annual revenues are only $25 billion.  That's a pittance compared to the overall GDP, and even the DOD budget, the majority of which are personnel and other expenses related to running the bases.    Raytheon's share price increase as a result of new contracts is insignificant to the overall market, unlike movements in other sectors.  For comparison, Apple earns more in one month than Raytheon does in the entire year.    The markets moved much more with anticipation of Apple bringing more cash to the US than anything that happened with Raytheon's contracts.

Raytheon is used as one example of how government spending influences the value of a companies shares (wealth creation).  So it appears that you now agree that government spending influences wealth creation....

29 minutes ago, GG said:

 

Again, people use US$ because it's the most convenient and liquid.   They will easily move to other currencies (ie method of payment) if the US$ is no longer convenient and liquid.

And the US controls most of the international payments system.  Look what happens when a country gets on our bad side....a dominant military force is also a requirement to be the reserve currency....