The Trump Economy

[daz28]

1 minute ago, Chef Jim said:

My point exactly. You mentioned the “unfortunate” ones who are I debt could use the tax breaks. They would have those tax breaks and still be in debt. Fools will be fools. 
 

And you and I didn’t benefit from those stock by backs?  So a buy back is “almost” securities fraud?  ????

It's not securities fraud, but it has the general feel of it.  I mean you inflate your companies price with the money that you told Trump you'd use to invest in jobs, then sell a bunch of your own personal shares on the bump.  It's greasy at best

[Chef Jim]

3 minutes ago, daz28 said:

It's not securities fraud, but it has the general feel of it.  I mean you inflate your companies price with the money that you told Trump you'd use to invest in jobs, then sell a bunch of your own personal shares on the bump.  It's greasy at best

As a public company who benefits from the increased share price?  You likely didn’t B word when your 401k doubled. And we had the lowest unemployment in what 50 years. Is there nothing  over the last 3.5 years that half the country  won’t complain about? 

[daz28]

5 minutes ago, Chef Jim said:

As a public company who benefits from the increased share price?  You likely didn’t B word when your 401k doubled. And we had the lowest unemployment in what 50 years. Is there nothing  over the last 3.5 years that half the country  won’t complain about? 

I don't think you understand what I'm saying.  if your company buys back shares, the price per share goes up.  Top executives have their own personal shares as well.  After the price goes up on the companies buyback, they then sell their personal shares for a neat GUARANTEED profit.  Neither me nor you have ever benefitted from a GUARANTEED stock transaction like that. 

[Chef Jim]

1 hour ago, daz28 said:

I don't think you understand what I'm saying.  if your company buys back shares, the price per share goes up.  Top executives have their own personal shares as well.  After the price goes up on the companies buyback, they then sell their personal shares for a neat GUARANTEED profit.  Neither me nor you have ever benefitted from a GUARANTEED stock transaction like that. 

 

I know how stock buybacks work.  You do realize that every shareholder has the ability to do the EXACT same thing right?  And you do realize that a stock buyback does not GUARANTEE the share price will rise don't you? 

[Foxx]

8 hours ago, Tiberius said:

Or, don’t respond. Look at the meat industry, they are hurting because of the virus, not the response. Let’s not forget that. Some people seem to want to blame the response. I know we are a political people, but the virus is the disaster, not the response. 

you're an idiot.

[daz28]

7 hours ago, Chef Jim said:

 

I know how stock buybacks work.  You do realize that every shareholder has the ability to do the EXACT same thing right?  And you do realize that a stock buyback does not GUARANTEE the share price will rise don't you? 

The shareholder does not know when the transaction will go through, so he's playing the street like everyone else.  Top management could even BUY more shares before they DECIDE to execute the buy back to enhance their position in the company.  None of this was even considered when they ram-rodded this tax cut through.  It may have even been intentional, butt look there's Mike Flynn's squirrel. 

 

If a company is not in a position to re-invest, and stock buyback from tax cuts is the best option for the company, you better believe that will increase its price per share.  Guaranteed no, but if the management is that inept, they wouldn't/shouldn't be where they are. 

 

 

Edited May 11, 2020 by daz28

[KRC]

14 hours ago, Chef Jim said:

 

I know how stock buybacks work.  You do realize that every shareholder has the ability to do the EXACT same thing right?  And you do realize that a stock buyback does not GUARANTEE the share price will rise don't you? 

 

I am guessing he also does not realize that stock does not only go to top executives. Companies use it as incentives to attract and retain quality workers. My company has been using options and RSU's  for a while and you do not have to be in management to get them.

 

You have to look at why the company is buying back stock. It could be positive or negative. Are they trying to manipulate EPS? Are they trying to get their stock price up if they think it is undervalued? Are they trying to cut the amount of money they pay in dividends? There are a bunch of reasons why companies would buy back stock.

[Chef Jim]

42 minutes ago, KRC said:

 

I am guessing he also does not realize that stock does not only go to top executives. Companies use it as incentives to attract and retain quality workers. My company has been using options and RSU's  for a while and you do not have to be in management to get them.

 

You have to look at why the company is buying back stock. It could be positive or negative. Are they trying to manipulate EPS? Are they trying to get their stock price up if they think it is undervalued? Are they trying to cut the amount of money they pay in dividends? There are a bunch of reasons why companies would buy back stock.

But #ceosbad!

7 hours ago, daz28 said:

The shareholder does not know when the transaction will go through, so he's playing the street like everyone else.  Top management could even BUY more shares before they DECIDE to execute the buy back to enhance their position in the company.  None of this was even considered when they ram-rodded this tax cut through.  It may have even been intentional, butt look there's Mike Flynn's squirrel. 

 

If a company is not in a position to re-invest, and stock buyback from tax cuts is the best option for the company, you better believe that will increase its price per share.  Guaranteed no, but if the management is that inept, they wouldn't/shouldn't be where they are. 

 

 

 

Then why did you use the word GUARANTEED in all caps twice?   

[KRC]

30 minutes ago, Chef Jim said:

But #ceosbad!

 

I usually see it come down to jealousy. They want what the CEOs have, but are not willing to put in the work to attain that level within the company.

[Chef Jim]

4 minutes ago, KRC said:

 

I usually see it come down to jealousy. They want what the CEOs have, but are not willing to put in the work to attain that level within the company.

I don’t. I see it as they truly feel CEO’s of large corporations are evil. That they just sit around and make millions with no risk.  They are worker bees that don’t understand why upper management make so much. They have no clue the risk a CEO has and continues to take. 

[plenzmd1]

If anyone is seeing this, put on CNBC to Chamath Pailihapitya interview ongoing. Controversial guy for sure, but his interviews are always thought provoking. Not a fan of the Feds actions today..his main thoughts today is we are enterenting hyper deflationary time, where equities will be disconnected from the economy and continue and upward rise...furthering the wealth gap etc. After he is finished, will see if i can get a link from CNBC.

 

From his last interview

 

https://www.cnbc.com/2020/04/22/palihapitiya-buybacks-show-growing-strain-of-incompetence-among-ceos.html

Edited May 12, 2020 by plenzmd1

[Foxx]

7 hours ago, plenzmd1 said:

If anyone is seeing this, put on CNBC to Chamath Pailihapitya interview ongoing. Controversial guy for sure, but his interviews are always thought provoking. Not a fan of the Feds actions today..his main thoughts today is we are enterenting hyper deflationary time, where equities will be disconnected from the economy and continue and upward rise...furthering the wealth gap etc. After he is finished, will see if i can get a link from CNBC.

 

From his last interview

 

https://www.cnbc.com/2020/04/22/palihapitiya-buybacks-show-growing-strain-of-incompetence-among-ceos.html

personally, i would not be surprised to see both hyper inflation and hyper deflation occur at the same time. luxuries will crash and essentials will skyrocket. that being said, that hyper inflation did not come home to roost after four rounds of QE and then QE infinity, says something. what that is exactly is debatable but one things for sure, we are going to be living in some interesting times in the days ahead

[plenzmd1]

8 minutes ago, Foxx said:

personally, i would not be surprised to see both hyper inflation and hyper deflation occur at the same time. luxuries will crash and essentials will skyrocket. that being said, that hyper inflation did not come home to roost after four rounds of QE and then QE infinity, says something. what that is exactly is debatable but one things for sure, we are going to be living in some interesting times in the days ahead

Was all over Bitcoin. Did not watch Squawk yesterday. The hedge fund bitcoin dude was on, everyone is on bitcoin!

[Tiberius]

Just like his casino business, he ruins everything 

[Chef Jim]

How did Trump ruin the economy? 

[Buffalo_Gal]

China ruined the US economy when they were not forthcoming about  the Wuhan virus.  China ruined the world's economy. China is asshoe.

I am uncertain why people are unclear about that, but it is Tibs, soooo  ?‍♂️

[Tiberius]

Great Depression and the Republicans only concern is that businesses can be sued for not having a safe work environment. They just don’t give a fig about the people 

[SectionC3]

On 5/10/2020 at 2:46 PM, Chef Jim said:

As a public company who benefits from the increased share price?  You likely didn’t B word when your 401k doubled. And we had the lowest unemployment in what 50 years. Is there nothing  over the last 3.5 years that half the country  won’t complain about? 

 

Those things are true (this coming from a guy with a nice, self-directed portfolio consisting of a blend of indices and individual holdings).  The concern I've always had with the Trump economy was that it was built on debt, and that someone else will pay the bill for his emptying of the treasury.  It was a gamble; the tax breaks were supposed to juice GDP by at least 4%, but they didn't.  I wonder whether the market would have experienced similar gains in the absence of the tax breaks.  Passive investing isn't going away anytime soon. And the larger companies that drag up the indices probably would have grown at a similar rate, anyhow.  

 

In any event, all that aside, all the good that was done from an economic perspective for the past 3.5 years --- and there was a lot of good for a lot of people --- was freaking wasted when he stuck his head in the sand and ignored the virus.  The virus isn't his fault.  And the response to the virus isn't something that he could completely control.  The effect of the virus would have been bad even with the best of governments.  But the things he could control . . . he has not done a good job.  And that's a shame for everyone. 

7 minutes ago, Buffalo_Gal said:

China ruined the US economy when they were not forthcoming about  the Wuhan virus.  China ruined the world's economy. China is asshoe.

I am uncertain why people are unclear about that, but it is Tibs, soooo  ?‍♂️

 

Yup.  And we have no culpability at all for trying to wish it away for a couple of months instead of, you know, being proactive about it.  Makes. Perfect. Sense. 

 

***

 

https://www.cnbc.com/2020/05/14/weekly-jobless-claims.html

 

More lovely news. 

Edited May 14, 2020 by SectionC3

[Tiberius]

On 5/10/2020 at 3:09 PM, daz28 said:

I don't think you understand what I'm saying.  if your company buys back shares, the price per share goes up.  Top executives have their own personal shares as well.  After the price goes up on the companies buyback, they then sell their personal shares for a neat GUARANTEED profit.  Neither me nor you have ever benefitted from a GUARANTEED stock transaction like that. 

Trying to explain anything to that dope is a waste of time. 

[Boatdrinks]

4 minutes ago, Tiberius said:

Great Depression and the Republicans only concern is that businesses can be sued for not having a safe work environment. They just don’t give a fig about the people 

Business owners are people. Anyway, lots of arbitrary lawsuits could come about by gold diggers if it’s not addressed. Reasonable precautions can be taken and some will still get virus. Nothing is foolproof. No one has an innate right not to get a virus. It’s a risk anytime one is in a communal setting. 

[Tiberius]

2 minutes ago, Boatdrinks said:

Business owners are people. Anyway, lots of arbitrary lawsuits could come about by gold diggers if it’s not addressed. Reasonable precautions can be taken and some will still get virus. Nothing is foolproof. No one has an innate right not to get a virus. It’s a risk anytime one is in a communal setting. 

You really want to take away the right of people to seek redress through the courts?? 

 

But dont pass pass gun laws, right? 

[Reality Check]

1 minute ago, Tiberius said:

You really want to take away the right of people to seek redress through the courts?? 

 

But dont pass pass gun laws, right? 

We already have gun laws, traitor.

[Tiberius]

1 minute ago, Reality Check said:

We already have gun laws, traitor.

Love that Safe Act 

[Reality Check]

1 minute ago, Tiberius said:

Love that Safe Act 

You are becoming my favorite Nazi. Did they promise you a job as a guard when people get rounded up?

[Boatdrinks]

4 minutes ago, Tiberius said:

You really want to take away the right of people to seek redress through the courts?? 

 

But dont pass pass gun laws, right? 

Some kind of limitation will be needed. Even though proving where someone got a virus would be difficult, too many liberal judges. That’s why New York State is such a cesspool and we pay so much for car insurance etc. maybe you sign a waiver to get a job. Anyway, if I work at your business and I get Covid 19 , was your business negligent ? Or did I not wish my hands etc. lots of people are slobs, as evidenced by the spread of this stuff. 

[Tiberius]

6 minutes ago, Boatdrinks said:

Some kind of limitation will be needed. Even though proving where someone got a virus would be difficult, too many liberal judges. That’s why New York State is such a cesspool and we pay so much for car insurance etc. maybe you sign a waiver to get a job. Anyway, if I work at your business and I get Covid 19 , was your business negligent ? Or did I not wish my hands etc. lots of people are slobs, as evidenced by the spread of this stuff. 

On citizens seeking redress through the courts? Seriously? On what constitutional grounds? 

[Reality Check]

2 minutes ago, Tiberius said:

On citizens seeking redress through the courts? Seriously? On what constitutional grounds? 

You could give a damn about the Constitution. How much does Bloomberg pay you?

[Boatdrinks]

13 minutes ago, Tiberius said:

On citizens seeking redress through the courts? Seriously? On what constitutional grounds? 

We already have some limits, even in NYS. Such as the workers comp law. I think some reasonable limits are in order here. Also, no one is forced to go back to work, ever. You work on a voluntary basis. You can stay home forever if you want. 

[Tiberius]

Just now, Boatdrinks said:

We already have some limits, even in NYS. Such as the workers comp law. I think some reasonable limits are in order here. Also, no one is forced to go back to work, ever. You work on a voluntary basis. You can stay home forever if you want. 

But a worker can be lied to, told its safe but it's not. That's exactly the employer the GOP wants to protect 

[Boatdrinks]

Just now, Tiberius said:

But a worker can be lied to, told its safe but it's not. That's exactly the employer the GOP wants to protect 

Safe is the most overused term in this and it’s a lie. No one is safe from a virus. 

[Koko78]

3 hours ago, Chef Jim said:

How did Trump ruin the economy? 

 

He personally ruined the economy by closing the economy, but not soon enough, and now has blood on his hands - being personally responsible for all the Flu Manchu Deaths - because of his slow response in shutting down the economy.

[Chef Jim]

3 hours ago, Tiberius said:

Trying to explain anything to that dope is a waste of time. 

Yeah what do I know. ?

[Hedge]

 

Quote

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TSMC’s investment will create thousands of highly-skilled American jobs and tens of thousands more jobs across the entire supply chain for years to come.

 

[Tiberius]

Quote

Neel Kashkari, the Minneapolis Fed president, said on CBS News on Thursday, “If this is a slow recovery, the way I think it is — I think we’re in this for months, a year, 18 months — there are going to be a lot of families that are going to need direct financial assistance.” He added, “I think a V–shaped recovery is off the table.”

And Republicans are sitting on their hands in the Senate as the economy burns 

[Chef Jim]

Then we offer financial assistance to those that need it not to every pet project under the sun. Politicians on both sides are very good a burying pork in those bills.  And some of it not so buried. We need to get assistance to people who need it NOW. How do things like this help people NOW?  It doesn’t. It just delays the passing of the bill?
 

https://www.denverpost.com/2020/05/12/marijuana-banking-heroes-act-coronavirus/amp/

[3rdnlng]

1 hour ago, Chef Jim said:

Then we offer financial assistance to those that need it not to every pet project under the sun. Politicians on both sides are very good a burying pork in those bills.  And some of it not so buried. We need to get assistance to people who need it NOW. How do things like this help people NOW?  It doesn’t. It just delays the passing of the bill?
 

https://www.denverpost.com/2020/05/12/marijuana-banking-heroes-act-coronavirus/amp/

Don't you know that things are going to get so bad financially for people that we need to give cash payments to illegal aliens and fundamentally change our voting procedures? Not to mention how the federal government needs to support sanctuary cities/states. 

[Chef Jim]

Just now, 3rdnlng said:

Don't you know that things are going to get so bad financially for people that we need to give cash payments to illegal aliens and fundamentally change our voting procedures? Not to mention how the federal government needs to support sanctuary cities/states. 

 

Not sure what your comment has to do with allowing the Cannabis industry to utilize the banking system.  

[unbillievable]

8 minutes ago, Chef Jim said:

 

Not sure what your comment has to do with allowing the Cannabis industry to utilize the banking system.  

 

 

The current banking system...

[Chef Jim]

6 minutes ago, unbillievable said:

 

 

The current banking system...

 

Exactly and his was to do with illegal immigrants and sanctuary cities.  @3rdnlng seems to be confused.  

[3rdnlng]

2 hours ago, Chef Jim said:

 

Exactly and his was to do with illegal immigrants and sanctuary cities.  @3rdnlng seems to be confused.  

Who me, confused? Honest, officer I'm dyslexic and I read the speed limit sign wrong. I thought it was 05 instead of 50 like you claim.