What a Mess!

[SoCal Deek]

3 minutes ago, BillStime said:

The best economy ever crumbled 60 days into a pandemic?

 

Yeah sure 

 

Now what? THIS is your latest spin? 😂😂😂

[BillStime]

1 hour ago, SoCal Deek said:

Now what? THIS is your latest spin? 😂😂😂

oh honey this is not first time I critiqued the alleged gReAtEsT economic period in our lifetime - per the cult.

 

[Doc]

2 hours ago, SoCal Deek said:

Now what? THIS is your latest spin? 😂😂😂

 

She's dizzy from all the spinning for this worst-ever President.

[nedboy7]

I’ll give credit where credit is due. Donald was absolutely right when he told Wolf Blitzer in 2004: “I’ve been around for a long time and it just seems that the economy does better under the Democrats than the Republicans.”

[SoCal Deek]

1 hour ago, BillStime said:

oh honey this is not first time I critiqued the alleged gReAtEsT economic period in our lifetime - per the cult.

 

If and when you finally get out of junior high school  you’ll be better equipped to understand the economy. 

[BillStime]

1 minute ago, SoCal Deek said:

If and when you finally get out of junior high school  you’ll be better equipped to understand the economy. 

Trust the process 

[nedboy7]

27 minutes ago, SoCal Deek said:

If and when you finally get out of junior high school  you’ll be better equipped to understand the economy. 

 

Sounds like you need some more school yourself....

 

Trump took every opportunity while campaigning to tout gains in the stock market as evidence of a booming U.S. economy. On Nov. 24, 2020, Trump even broke his post-election silence to hold a minute-long news conference to tout the Dow Jones Industrial Average trading at the 30,000 mark.

"The stock market’s just broken 30,000. Never been broken, that number, that’s a sacred number," the president said. "I just want to congratulate all the people within the administration that worked so hard."

Stock markets have rallied significantly, bouncing back sharply after a March fall to soar to record highs as Trump was in office -- despite the rest of the economy largely receding and suffering.

"The stock market is up phenomenally and the bond market too, so wealthy investors who own most of it benefited," Frankel said of economic wins during Trump's tenure.

Much of the stock market gains, however, economists link to expansionary policy from the Federal Reserve, which is independent of Trump -- and Trump has notably even taken steps to weaken the Fed’s independence. Expansionary policy aims to inject money into the economy, such as the way the Fed slashed interest rates and made it easier to borrow.

The Dow soared by 56% during Trump's presidency. It climbed 148% under Obama, it fell by 26.5% under Bush and climbed 229% under Clinton. Notably, the previous presidents had two terms. At the one term line, the Dow climbed 73.2% under Obama, dropped by 3.7% under Bush and soared 105.8% under Clinton.

"It's not Trump because the stock market is going up even more since Biden won the election," Frankel added.

Chinn noted that “if you lower interest rates by two to three percentage points, that'll give you a stock market boom.”

Another problem with pointing to the stock market as a barometer of the economy is that most of it is owned by the wealthy, and middle- and low-wage workers don't reap the benefits of market gains if they don't own any market shares.

In the third quarter of 2020 the wealthiest 10% of households based on net worth own 88% of all total corporate equities and mutual fund shares, according to Federal Reserve data, with the top 1% owning 53%.

Shierholz said for most working class and even middle class families, stock market gains are "utterly irrelevant."

While Trump didn't create the issue of income inequality in the U.S., his policies will be remembered for creating an economy where the richest prosper while lower-paid families struggle.

[SoCal Deek]

13 minutes ago, nedboy7 said:

 

Sounds like you need some more school yourself....

 

Trump took every opportunity while campaigning to tout gains in the stock market as evidence of a booming U.S. economy. On Nov. 24, 2020, Trump even broke his post-election silence to hold a minute-long news conference to tout the Dow Jones Industrial Average trading at the 30,000 mark.

"The stock market’s just broken 30,000. Never been broken, that number, that’s a sacred number," the president said. "I just want to congratulate all the people within the administration that worked so hard."

Stock markets have rallied significantly, bouncing back sharply after a March fall to soar to record highs as Trump was in office -- despite the rest of the economy largely receding and suffering.

"The stock market is up phenomenally and the bond market too, so wealthy investors who own most of it benefited," Frankel said of economic wins during Trump's tenure.

Much of the stock market gains, however, economists link to expansionary policy from the Federal Reserve, which is independent of Trump -- and Trump has notably even taken steps to weaken the Fed’s independence. Expansionary policy aims to inject money into the economy, such as the way the Fed slashed interest rates and made it easier to borrow.

The Dow soared by 56% during Trump's presidency. It climbed 148% under Obama, it fell by 26.5% under Bush and climbed 229% under Clinton. Notably, the previous presidents had two terms. At the one term line, the Dow climbed 73.2% under Obama, dropped by 3.7% under Bush and soared 105.8% under Clinton.

"It's not Trump because the stock market is going up even more since Biden won the election," Frankel added.

Chinn noted that “if you lower interest rates by two to three percentage points, that'll give you a stock market boom.”

Another problem with pointing to the stock market as a barometer of the economy is that most of it is owned by the wealthy, and middle- and low-wage workers don't reap the benefits of market gains if they don't own any market shares.

In the third quarter of 2020 the wealthiest 10% of households based on net worth own 88% of all total corporate equities and mutual fund shares, according to Federal Reserve data, with the top 1% owning 53%.

Shierholz said for most working class and even middle class families, stock market gains are "utterly irrelevant."

While Trump didn't create the issue of income inequality in the U.S., his policies will be remembered for creating an economy where the richest prosper while lower-paid families struggle.

Keep preaching Bernie! 🙄

[nedboy7]

38 minutes ago, SoCal Deek said:

Keep preaching Bernie! 🙄

Hard to understand Isn’t it?  facts hurt your brain ha?  

https://evonomics.com/economists-agree-democratic-presidents-better-making-us-rich-eight-reasons/

 

[SoCal Deek]

2 minutes ago, nedboy7 said:

Hard to understand Isn’t it?  facts hurt your brain ha?  

https://evonomics.com/economists-agree-democratic-presidents-better-making-us-rich-eight-reasons/

 

Just speaking from decades of personal / professional experience Ned. You don’t have to agree with it. 

[nedboy7]

12 minutes ago, SoCal Deek said:

Just speaking from decades of personal / professional experience Ned. You don’t have to agree with it. 

 

Yeah why listen to experts when you have your own experience.  Keep at it.  Sort of like you sat at a football game and saw people of different ethnicity getting along and you thought that was proof of there being no systemic racism.  Keep at it. 

[BillsFanNC]

Academics agree that dems are better....at everything!

 

FFS.

 

In other news water is wet,  the Patriots cheat and we will all eventually die.

[Irv]

Interest is up and the stock market’s down. You’ll only get mugged if you go downtown.   
 

Pretty much sums up our current situation with the moronic Dems and demented Joe.  
 

WHAT A MESS!

[OrangeBills]

On 9/15/2022 at 1:53 PM, nedboy7 said:

 

Sounds like you need some more school yourself....

 

Trump took every opportunity while campaigning to tout gains in the stock market as evidence of a booming U.S. economy. On Nov. 24, 2020, Trump even broke his post-election silence to hold a minute-long news conference to tout the Dow Jones Industrial Average trading at the 30,000 mark.

"The stock market’s just broken 30,000. Never been broken, that number, that’s a sacred number," the president said. "I just want to congratulate all the people within the administration that worked so hard."

Stock markets have rallied significantly, bouncing back sharply after a March fall to soar to record highs as Trump was in office -- despite the rest of the economy largely receding and suffering.

"The stock market is up phenomenally and the bond market too, so wealthy investors who own most of it benefited," Frankel said of economic wins during Trump's tenure.

Much of the stock market gains, however, economists link to expansionary policy from the Federal Reserve, which is independent of Trump -- and Trump has notably even taken steps to weaken the Fed’s independence. Expansionary policy aims to inject money into the economy, such as the way the Fed slashed interest rates and made it easier to borrow.

The Dow soared by 56% during Trump's presidency. It climbed 148% under Obama, it fell by 26.5% under Bush and climbed 229% under Clinton. Notably, the previous presidents had two terms. At the one term line, the Dow climbed 73.2% under Obama, dropped by 3.7% under Bush and soared 105.8% under Clinton.

"It's not Trump because the stock market is going up even more since Biden won the election," Frankel added.

Chinn noted that “if you lower interest rates by two to three percentage points, that'll give you a stock market boom.”

Another problem with pointing to the stock market as a barometer of the economy is that most of it is owned by the wealthy, and middle- and low-wage workers don't reap the benefits of market gains if they don't own any market shares.

In the third quarter of 2020 the wealthiest 10% of households based on net worth own 88% of all total corporate equities and mutual fund shares, according to Federal Reserve data, with the top 1% owning 53%.

Shierholz said for most working class and even middle class families, stock market gains are "utterly irrelevant."

While Trump didn't create the issue of income inequality in the U.S., his policies will be remembered for creating an economy where the richest prosper while lower-paid families struggle.

 

So dumb, so misguided.

 

Middle class and poor families are struggling much more now than they were then.  And it's going to get materially worse.  

 

And to top it off, the set-up is very bad, because the Fed will be counter-productive (raising rates instead of lowering them) and the Fiscal side has no ammo because the idiotic Biden Administration already spent all the printed money on "feel-good" instead of saving it for necessary.

 

NEVER EVER FORGET that moron Bernie Sanders wanted to print SEVEN TRILLION DOLLARS to create his Socialist/Communist fantasy land...we are doomed by the $3 Trillion the moronic Biden Admin Cabal has flexed on us...the net $6T more that Bernie wanted would have ended our society.

 

You people need to get a clue before it's too late.  Right now not one freaking thing you Leftists say has any semblance of intelligent/realistic thought embedded in it...it's a joke.

 

And "Election Denier" is the biggest LIE in the history of the world...the Dems denied every election they lost for 20 years 

 

You know what, with this education system and this media, we're finally cooked.   This stuff is so dumb.

 

 

[nedboy7]

7 hours ago, OrangeBills said:

 

So dumb, so misguided.

 

Middle class and poor families are struggling much more now than they were then.  And it's going to get materially worse.  

 

And to top it off, the set-up is very bad, because the Fed will be counter-productive (raising rates instead of lowering them) and the Fiscal side has no ammo because the idiotic Biden Administration already spent all the printed money on "feel-good" instead of saving it for necessary.

 

NEVER EVER FORGET that moron Bernie Sanders wanted to print SEVEN TRILLION DOLLARS to create his Socialist/Communist fantasy land...we are doomed by the $3 Trillion the moronic Biden Admin Cabal has flexed on us...the net $6T more that Bernie wanted would have ended our society.

 

You people need to get a clue before it's too late.  Right now not one freaking thing you Leftists say has any semblance of intelligent/realistic thought embedded in it...it's a joke.

 

And "Election Denier" is the biggest LIE in the history of the world...the Dems denied every election they lost for 20 years 

 

You know what, with this education system and this media, we're finally cooked.   This stuff is so dumb.

 

 

 

Wow you are triggered ha?  When you say this media do you include Alex Jones?  Cause that dude is toast! 

[OrangeBills]

1 hour ago, nedboy7 said:

 

Wow you are triggered ha?  When you say this media do you include Alex Jones?  Cause that dude is toast! 

 

What does Triggered mean?  I don't care in the least about Alex Jones, his program shouldn't exist just like the MSNBC "Mid-Terms Podcast" shouldn't exist either.  People should live their lives, Politics should not be a "thing", it should just be a function.

 

I notice you didn't attempt to answer any of the points I made, and I understand, there are no answers.   Only general Democrat incompetence that I hope doesn't sink us all.  

 

You'll notice that "barely a Democrat anymore" Jamie Dimon is now out in force all over warning about how bad things are gonna get....I was asked today why that is?   And the answer is because he sees noone of competence in any room in Washington right now.  The President is gone, the VP is a zero, Schumer is a clown, Pelosi is, frankly, a never-was...the Cabinet is pathetic and makes Trump's look like the Manhattan Project.  

 

Dimon is trying to signal to people that we're in real trouble.  The problem is, our gov't itself is the GD problem, they've used all our tolls preemptively and now we're stuck with nothing to defend ourselves. 

 

The Democrats' Climate Approach is a Smog Reduction strategy, not an energy policy, and millions of people may die globally as a result.  

 

Nobody's lives get better by getting a cheap handout, or an artificial lift of minimum wage, and people are now figuring that out.  

 

The problem is, you can't change reality.  Reality is beautiful.  Leftist democrats live in an entirely sanctified dreamworld where their latest feel-good ideas work...but they DON'T here in the real world.  

 

And our friends out East in China and Russia know that and they are decidedly using it against us.   I hope there's a strand of strategic intelligence in the Biden Administration somewhere, but frankly I don't see it.  

[nedboy7]

1 hour ago, OrangeBills said:

 

What does Triggered mean?  I don't care in the least about Alex Jones, his program shouldn't exist just like the MSNBC "Mid-Terms Podcast" shouldn't exist either.  People should live their lives, Politics should not be a "thing", it should just be a function.

 

I notice you didn't attempt to answer any of the points I made, and I understand, there are no answers.   Only general Democrat incompetence that I hope doesn't sink us all.  

 

You'll notice that "barely a Democrat anymore" Jamie Dimon is now out in force all over warning about how bad things are gonna get....I was asked today why that is?   And the answer is because he sees noone of competence in any room in Washington right now.  The President is gone, the VP is a zero, Schumer is a clown, Pelosi is, frankly, a never-was...the Cabinet is pathetic and makes Trump's look like the Manhattan Project.  

 

Dimon is trying to signal to people that we're in real trouble.  The problem is, our gov't itself is the GD problem, they've used all our tolls preemptively and now we're stuck with nothing to defend ourselves. 

 

The Democrats' Climate Approach is a Smog Reduction strategy, not an energy policy, and millions of people may die globally as a result.  

 

Nobody's lives get better by getting a cheap handout, or an artificial lift of minimum wage, and people are now figuring that out.  

 

The problem is, you can't change reality.  Reality is beautiful.  Leftist democrats live in an entirely sanctified dreamworld where their latest feel-good ideas work...but they DON'T here in the real world.  

 

And our friends out East in China and Russia know that and they are decidedly using it against us.   I hope there's a strand of strategic intelligence in the Biden Administration somewhere, but frankly I don't see it.  

 

There is no arguing with someone as stupid and one sided as you.  Flame away. 

[Over 29 years of fanhood]

On 9/15/2022 at 1:53 PM, nedboy7 said:

 

Sounds like you need some more school yourself....

 

Trump took every opportunity while campaigning to tout gains in the stock market as evidence of a booming U.S. economy. On Nov. 24, 2020, Trump even broke his post-election silence to hold a minute-long news conference to tout the Dow Jones Industrial Average trading at the 30,000 mark.

"The stock market’s just broken 30,000. Never been broken, that number, that’s a sacred number," the president said. "I just want to congratulate all the people within the administration that worked so hard."

Stock markets have rallied significantly, bouncing back sharply after a March fall to soar to record highs as Trump was in office -- despite the rest of the economy largely receding and suffering.

"The stock market is up phenomenally and the bond market too, so wealthy investors who own most of it benefited," Frankel said of economic wins during Trump's tenure.

Much of the stock market gains, however, economists link to expansionary policy from the Federal Reserve, which is independent of Trump -- and Trump has notably even taken steps to weaken the Fed’s independence. Expansionary policy aims to inject money into the economy, such as the way the Fed slashed interest rates and made it easier to borrow.

The Dow soared by 56% during Trump's presidency. It climbed 148% under Obama, it fell by 26.5% under Bush and climbed 229% under Clinton. Notably, the previous presidents had two terms. At the one term line, the Dow climbed 73.2% under Obama, dropped by 3.7% under Bush and soared 105.8% under Clinton.

"It's not Trump because the stock market is going up even more since Biden won the election," Frankel added.

Chinn noted that “if you lower interest rates by two to three percentage points, that'll give you a stock market boom.”

Another problem with pointing to the stock market as a barometer of the economy is that most of it is owned by the wealthy, and middle- and low-wage workers don't reap the benefits of market gains if they don't own any market shares.

In the third quarter of 2020 the wealthiest 10% of households based on net worth own 88% of all total corporate equities and mutual fund shares, according to Federal Reserve data, with the top 1% owning 53%.

Shierholz said for most working class and even middle class families, stock market gains are "utterly irrelevant."

While Trump didn't create the issue of income inequality in the U.S., his policies will be remembered for creating an economy where the richest prosper while lower-paid families struggle.

Yeah probably and Biden will be remembered for creating an economy where only the Uber Uber wealthy and

elite prosper and everyone else everyone else.. struggles mightily 
 

This administration doubled down on bad policy and inflated retirees and the middle class out of financial security.
 

And all those people that liberals call rich… employed responsible workers with families… have been crushed now too. 
 

Nobody except for the elites and their buddies are better off today than they were  4 years ago and that’s not a pro last guy message that’s just dismay at the present. 
 

 

 

 

Edited October 13, 2022 by Over 29 years of fanhood

[RiotAct]

Another big down day in the stock markets incoming, it looks like.

 

But hey, no more mean tweets.

[nedboy7]

11 hours ago, Over 29 years of fanhood said:

Yeah probably and Biden will be remembered for creating an economy where only the Uber Uber wealthy and

elite prosper and everyone else everyone else.. struggles mightily 
 

This administration doubled down on bad policy and inflated retirees and the middle class out of financial security.
 

And all those people that liberals call rich… employed responsible workers with families… have been crushed now too. 
 

Nobody except for the elites and their buddies are better off today than they were  4 years ago and that’s not a pro last guy message that’s just dismay at the present. 
 

 

 

 

who got rich under Trump?  You kidding me?  Who got the tax cuts?  Not the middle class. Check yourself. 

2 minutes ago, nedboy7 said:

who got rich under Trump?  You kidding me?  Who got the tax cuts?  Not the middle class. Check yourself. 

 

The Tax Cuts and Jobs Act of 2017 (TCJA), passed by President Trump and congressional Republicans, was the biggest reform of the U.S. tax code since 1986. The TCJA lowered income tax rates, especially for higher-income Americans, and it lowered the corporate tax rate from 35% to 21%. Some tax credits and deductions also changed. The standard deduction was nearly doubled (from $6,350 in 2017 to $12,000 in 2018) and the child tax credit was doubled (from $1,000 in 2017 to $2,000 in 2018), but some itemized deductions were limited or eliminated.

IRS data on the 2018 tax season released in May 2019 shows that savings for taxpayers were uneven. For example, the average refund was $90 higher, nationally, in 2018 than 2017. But the taxpayers who saw the largest refund increases had an adjusted gross income (AGI) of at least $200,000. Tax returns showing an AGI of less than $100,000 paid less income tax overall, but returns with an AGI just above $100,000 (many middle-class families) owed more tax, on average. Note that this AGI is per tax return, not per taxpayer: A married couple where each spouse has a salary of $65,000 could very well have an AGI of just above $100,000 if they file jointly.

On the whole, low-income families appear to have received the least savings, while high-income families saved the most. Middle-class families saw mixed results. The biggest winners from Trump’s tax cuts were probably businesses. Between 2017 and 2018, corporations paid 22.4% less income tax. The total value of refunds issued by the IRS to businesses also increased by 33.8% nationally.

 

this is what’s wrong with Trumpers.  I get some criticism of Biden is legit. But you guys have a pretty weird sense of reality about what happened before him.   Like claiming somehow the poor did better or that federal spending was somehow less under Trump. 

Edited October 13, 2022 by nedboy7