The Trump Economy

[Buffalo_Gal]

2 minutes ago, Foxx said:

i never said it was a repub/dem issue. i said it was a conservative ideal (saving for a rainy day) and a liberal ideal (school curriculum). these are generally accepted, aren't they? that they are associated with those particular political mindsets is besides the point. saving for a rainy day is a very much conservative ideal, that can not be disputed with any sense of a logical argument that would withstand scrutiny.

My father was a math teacher. He used to teach the kids how to write a check, balance a budget, etc. In algebra class! He simply wanted to make certain they had those life skills.  He did this as long as he was teaching (he started in 1964).  I cannot imagine what it is like these days if he felt it was necessary way back then.

[Foxx]

1 minute ago, Buffalo_Gal said:

My father was a math teacher. He used to teach the kids how to write a check, balance a budget, etc. In algebra class! He simply wanted to make certain they had those life skills.  He did this as long as he was teaching (he started in 1964).  I cannot imagine what it is like these days if he felt it was necessary way back then.

i have said for many years now and i firmly believe it to this day.

 

calculators in the classroom is the cause of the downfall of society.

[Chef Jim]

14 minutes ago, Crayola64 said:

 

Parents in this country are in no way qualified to teach this.  And I really disagree, an 18 year old is very close to making money, and they have money at that point.  And teaching kids how to make a lot more money through financial principles could be appealing.  

 

But I don't know if teaching will fix the issue (just my best idea), but it is such an issue

 

Seriously?  How many 18 year olds are working in this country let alone saving?  And my point was if mom and dad are working with a competent advisor he should be insisting the  parents bring the kids along to their reviews.  

13 minutes ago, Buffalo_Gal said:

My father was a math teacher. He used to teach the kids how to write a check, balance a budget, etc. In algebra class! He simply wanted to make certain they had those life skills.  He did this as long as he was teaching (he started in 1964).  I cannot imagine what it is like these days if he felt it was necessary way back then.

 

I took an "Economics" course in HS and had no idea how to balance a checkbook until I got married at 22.  

Edited March 22, 2020 by Chef Jim

[Foxx]

11 minutes ago, Crayola64 said:

 

okay, I am just not interested in politicizing that issue, maybe others are

is there such a thing as long held conservative beliefs?

[RochesterRob]

26 minutes ago, Foxx said:

not to worry, we are about to see a bifurcation of goods. hyperinflation for essentials and deflation for luxury items.

  People will have to reprioritize on expenditures.  There will be fewer people buying a full size pickup truck just to be seen in it versus having a productive use for it.  

[Foxx]

10 minutes ago, RochesterRob said:

  People will have to reprioritize on expenditures.  There will be fewer people buying a full size pickup truck just to be seen in it versus having a productive use for it.  

lol. i saw a commercial last night, a couple actually for different car makers. they are offering deferred payment for either 90 or 120 days if you purchase a new truck. not to mention the 0% financing that can now be had, yes, can now be had for a mere 84 months.

 

Edited March 22, 2020 by Foxx

[jrober38]

The economy is going to be destroyed by the end of April. 

 

If this lasts more than a few months, which seems likely give the curve the US is tracking along, the economy will crash. 

 

First the hotel, airline and restaurant industries will fail. Then autos will begin to fail as no one will be buying cars anymore. Same for real estate construction.

 

This is going to be a colossal disaster. No other way to put it. 

[SoCal Deek]

3 minutes ago, jrober38 said:

The economy is going to be destroyed by the end of April. 

 

If this lasts more than a few months, which seems likely give the curve the US is tracking along, the economy will crash. 

 

First the hotel, airline and restaurant industries will fail. Then autos will begin to fail as no one will be buying cars anymore. Same for real estate construction.

 

This is going to be a colossal disaster. No other way to put it. 

Agreed! This was fun for a week or two but it’s time for everyone to go back to work and practice good hygiene and social distancing. Stay home if you’re sick! Easy access to tests will certainly help. Pence reported that 90% of those asking for tests, don’t have the virus. That’s good for many reasons.

[RochesterRob]

7 minutes ago, jrober38 said:

The economy is going to be destroyed by the end of April. 

 

If this lasts more than a few months, which seems likely give the curve the US is tracking along, the economy will crash. 

 

First the hotel, airline and restaurant industries will fail. Then autos will begin to fail as no one will be buying cars anymore. Same for real estate construction.

 

This is going to be a colossal disaster. No other way to put it. 

  So, what are you going to do when the looters show up at your door?

4 minutes ago, SoCal Deek said:

Agreed! This was fun for a week or two but it’s time for everyone to go back to work and practice good hygiene and social distancing. Stay home if you’re sick! Easy access to tests will certainly help. Pence reported that 90% of those asking for tests, don’t have the virus. That’s good for many reasons.

  What is transpiring in California in terms of isolation and shutdowns?

[jrober38]

10 minutes ago, RochesterRob said:

  So, what are you going to do when the looters show up at your door?

 

Seems unlikely. 

[RochesterRob]

17 minutes ago, jrober38 said:

 

Seems unlikely. 

  Because....................?

[jrober38]

2 minutes ago, RochesterRob said:

  Because....................?

 

Were people looting homes in Europe during the financial crisis when places like Spain, Italy and Greece had near 20% unemployment? 

[RochesterRob]

1 minute ago, jrober38 said:

 

Were people looting homes in Europe during the financial crisis when places like Spain, Italy and Greece had near 20% unemployment? 

  North America is not Europe and if the predictions come true the US has not had this kind of financial stress in quite some time.  I believe that we have far less connection to society than in the 1930's so it would be far easier to do anti-social things such as looting.  "The economy is going to be destroyed by the end of April."  Your words, not mine.  What do you think is going to happen when the economy is destroyed in approximate 40 days?  Block parties?  Also, if the economy is going to be destroyed by the end of April then how is it only going to be only crashed a couple of months after that?  OK, again I would ask how you would deal with looters at your door.  I assume that you do not live in a dumpster so even if it is just a laptop and a dorm refrigerator you have things of value.  You don't seem like the kind of person to have a gun and if it is as chaotic as you suggest it is unlikely the cops will get there before the looters leave.

[jrober38]

5 minutes ago, RochesterRob said:

  North America is not Europe and if the predictions come true the US has not had this kind of financial stress in quite some time.  I believe that we have far less connection to society than in the 1930's so it would be far easier to do anti-social things such as looting.  "The economy is going to be destroyed by the end of April."  Your words, not mine.  What do you think is going to happen when the economy is destroyed in approximate 40 days?  Block parties?  Also, if the economy is going to be destroyed by the end of April then how is it only going to be only crashed a couple of months after that?  OK, again I would ask how you would deal with looters at your door.  I assume that you do not live in a dumpster so even if it is just a laptop and a dorm refrigerator you have things of value.  You don't seem like the kind of person to have a gun and if it is as chaotic as you suggest it is unlikely the cops will get there before the looters leave.

 

The government is going to have to start shipping people money every month. 

 

That is going to be the only option with unemployment upwards of 15%. 

Edited March 23, 2020 by jrober38

[RochesterRob]

2 minutes ago, jrober38 said:

 

The government is going to have to start shipping people money every month. 

 

That is going to be the only option with unemployment upwards of 15%. 

  The risk in shipping people large sums of money is that you get the Weimar Republic and hyperinflation.  You were talking 20 percent unemployment and now you say 15 percent?

[jrober38]

2 minutes ago, RochesterRob said:

  The risk in shipping people large sums of money is that you get the Weimar Republic and hyperinflation.  You were talking 20 percent unemployment and now you say 15 percent?

 

I don't think borrowing money to pay people a monthly amount will lead to hyper inflation.

 

The US economy 30 days ago was buzzing. In your example Germany had just lost a war and had to pay massive reparation payments that crashed their economy.

 

When people can't pay rent, can't pay for food, can't pay for anything, the government is going to have no choice but to start shipping people money to survive. 

[RochesterRob]

14 minutes ago, jrober38 said:

 

I don't think borrowing money to pay people a monthly amount will lead to hyper inflation.

 

The US economy 30 days ago was buzzing. In your example Germany had just lost a war and had to pay massive reparation payments that crashed their economy.

 

When people can't pay rent, can't pay for food, can't pay for anything, the government is going to have no choice but to start shipping people money to survive. 

  I did not say that the causes would be the same but I wanted to cite an example of hyperinflation and its effect on the economy.  Pretty sure before your edit that you said large sums of money implying more than what is needed based on need.  Again, what will you do to protect yourself if your neighborhood descends into chaos?

[jrober38]

1 minute ago, RochesterRob said:

  I did not say that the causes would be the same but I wanted to cite an example of hyperinflation and its effect on the economy.  Pretty sure before your edit that you said large sums of money implying more than what is needed based on need.  Again, what will you do to protect yourself if your neighborhood descends into chaos?

 

I own multiple firearms. I have no belief that I'll have to use them.

 

I didn't edit anything. 

[CoudyBills]

4 hours ago, Chef Jim said:

 

Here's the challenge.  Teaching it in high school is a complete waste of time. By the time a 17 or 18 year old is working and making any kind of money that can be put aside they will have long forgotten anything they learned an many as 10 years previously.  It needs to be taught in the home by mom and dad and reinforced throughout the kids early adult years.  The problem here is mom and dad typically don't know what the ***** they're doing.  Unless they're working with me of course.  ?

We train our kids like that.  They have jobs within the home, get paid, save, spend, give.  Been doing it for years.  

1 hour ago, RochesterRob said:

  So, what are you going to do when the looters show up at your door?

Um, shoot them?  In the face, that way they know you are serious?

[CoudyBills]

5 hours ago, RochesterRob said:

  A lot of people are hand to mouth through no fault of their own.  People have health problems or somebody in their family does.  Some have disabilities.  Some are going to work a low wage job because that is all the skills that they have.  Not everybody has the potential intellectually for an advanced degree.  

You don't need an advanced degree.  I have a buddy who makes 33k a year.  He has a wife who doesn't work, a kid, a house (mortgage), a fully funded emergency fund, and he is self funding a master's degree.  While it is different for people who are on a fixed government income, I put very little stock in the little guy can't get ahead argument.  People don't have to make a killing to have an emergency fund.  There are options.