Trump's Dumb Economics - Page 22 - Politics Forum.org | PoFo

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User avatar
By Godstud
#14935797
So far, Trump has just caused USA to pay$12 billion to farmers in aid, because of these stupid tariffs. USA is LOSING the "trade war", that they initiated with their ill-conceived tariffs, and myopic policies.

Companies are already seeking to move to other countries to be able to better trade their products and avoid the tariffs. How is USA benefiting from companies and jobs going to other countries?

Yes, @One Degree, we know you don't give a shit about anyone but yourself, least of all farmers. You don't have to constantly rant on about how much you hate the poor and people who've been hurt by others. :knife:
#14936044
The official rate of unemployment in America has plunged to a remarkably low 3.8%. The Federal Reserve forecasts that the unemployment rate will reach 3.5% by the end of the year.

But the official rate hides more troubling realities: legions of college grads overqualified for their jobs, a growing number of contract workers with no job security, and an army of part-time workers desperate for full-time jobs. Almost 80% of Americans say they live from paycheck to paycheck, many not knowing how big their next one will be.

Although the US economy continues to grow, most of the gains have been going to a relatively few top executives of large companies, financiers, and inventors and owners of digital devices.

America doesn’t have a jobs crisis. It has a good jobs crisis.

When Republicans delivered their $1.5tn tax cut last December they predicted a big wage boost for American workers. Forget it. Wages actually dropped in the second quarter of this year.

The shift from factory to office and other sedentary jobs created other social upheaval. The more recent shift in bargaining power from workers to large corporations – and consequentially, the dramatic widening of inequalities of income, wealth, and political power – has had a more unfortunate and, I fear, more lasting consequence: an angry working class vulnerable to demagogues peddling authoritarianism, racism, and xenophobia.

There it is kids. That's ^ how Trump And The Plutocrats are hoodwinking the suckers and fucking them in the ass. The plutocrats get your money, you get to hate wet backs and liberals and the plutocrats laugh at you all the way to the bank.
#14936049
jimjam wrote: lasting consequence: an angry working class vulnerable to demagogues peddling authoritarianism, racism, and xenophobia.


The dems are mostly responsible for that. 8 years of Obama's neoliberal upward redistribution of wealth fueled the Tea Party movement which culminated in Trump.

There it is kids. That's ^ how Trump And The Plutocrats are hoodwinking the suckers and fucking them in the ass.


So vote Democrat. :knife:
User avatar
By jimjam
#14936272
Donald and the plutocrats are planning their next heist on the US Treasury:

The Trump administration is considering bypassing Congress to grant a $100 billion tax cut mainly to the wealthy, a legally tenuous maneuver that would cut capital gains taxation and fulfill a long-held ambition of many investors and conservatives.

Hmmmm :hmm: I wonder if this will help the 80% of Americans who are living from pay check to pay check :hmm:
User avatar
By Godstud
#14936282
@jimjam of course it will. Because Trickle-down economics.




































:lol:
#14937410
During the campaign, Donald repeatedly claimed that the unemployment rate was a phony number and the real unemployment rate was really many times higher. Now, he regularly touts unemployment statistics as proof of his economic agenda’s success, though he does not always get them right. His refusal to acknowledge this shift has been frustrating, but even flip-flops have a statute of limitations.

During Donald's first 100 days in office his L.P.D. (lies per day) statistic was 4.9. He is now chugging along at a L.P.D. of 7.6. Lies emanating from the White House are by no means something new but Donald is so good at it that we pretty much assume by now that most of what he says are lies :| .
User avatar
By Godstud
#14937414
Trump just does it. He is not good at it. Good liars take some effort to discover the lies. Trump's shit at lying.
#14937417
Claiming that good stats are false and then claiming the opposite after you won is basic tactics for con artists in politics, it's The Con Art of The Deal 101 I guess, so I wouldn't even mention it while discussing con art at its highest. As to Trump's LPD, he always has to lie something because the truth could never be good enough for him. If his presidency were really the greatest ever, he still would lie about it to make it appear even better. But this is not the case, of course, he has to be a pathological liar because that's what his whole existence is based on. That's how he lives and always lived his private and public life, and that's how he does and always did business. He tells the truth accidentally only. I don't think he meant to say live on TV that he knows nothing about Russia, for example, it was one of the very rare cases when telling the truth served him well enough to accidentally do it.
User avatar
By jimjam
#14937654
The initial jolt of the Republicans’ $1.5 trillion tax cuts, mostly for corporations and the wealthy, is wearing off. Corporations have bought back $437 billion of their own shares, which leaves them that much less to invest in new production, or wages. In fact, spending on business equipment slowed.

Short-term rates, such as those for two-year Treasury bonds, run higher than long-term rates, like the 10-year bond, a sign of pessimism that is a well-known red flag. Recessions tend to follow an inverted yield curve like a stray cat looking for a meal.

The bottom 60 percent of income-earners have been fueling their spending, and thus the economy’s, by using their savings or credit cards. They almost have to, because wage growth is expanding at a disappointing 2.7 percent annual clip — despite evidence that employers are finally throwing a few more pennies at workers.

Every time I hear how great the economy is in the United States I pinch myself. I have to wonder which United States is being referred to. Is it the one where the stock market is rising to ridiculous heights? Or is it the one where a working American can't make ends meet no matter how hard she tries? Or, worse yet, is it the economy that refuses to hire Americans over the age of 50, where corporations complain that they cannot find enough skilled Americans for the jobs they need to fill even though we're right here, and the one where corporate welfare and well-being supersedes that of 99% of us?

The economy that most of us are reading and hearing about is the one where the richest are doing well at our expense, the stock market never falls, and the CEOs are paid thousands of times more in perks, stocks and salary than we will ever see. It's the economy where luxury housing is being built while affordable housing is becoming non-existent. It's the economy where needing health care, even the simplest sort, can leave a person bankrupt.

Eventually Trump's dumb economics will be relegating Russiagate to the back pages. We're heading for a fall and depression to rival what happened in 1929. The law of gravity has not been repealed.
#14937657
jimjam wrote:The initial jolt of the Republicans’ $1.5 trillion tax cuts, mostly for corporations and the wealthy, is wearing off. Corporations have bought back $437 billion of their own shares, which leaves them that much less to invest in new production, or wages. In fact, spending on business equipment slowed.

Short-term rates, such as those for two-year Treasury bonds, run higher than long-term rates, like the 10-year bond, a sign of pessimism that is a well-known red flag. Recessions tend to follow an inverted yield curve like a stray cat looking for a meal.

The bottom 60 percent of income-earners have been fueling their spending, and thus the economy’s, by using their savings or credit cards. They almost have to, because wage growth is expanding at a disappointing 2.7 percent annual clip — despite evidence that employers are finally throwing a few more pennies at workers.

Every time I hear how great the economy is in the United States I pinch myself. I have to wonder which United States is being referred to. Is it the one where the stock market is rising to ridiculous heights? Or is it the one where a working American can't make ends meet no matter how hard she tries? Or, worse yet, is it the economy that refuses to hire Americans over the age of 50, where corporations complain that they cannot find enough skilled Americans for the jobs they need to fill even though we're right here, and the one where corporate welfare and well-being supersedes that of 99% of us?

The economy that most of us are reading and hearing about is the one where the richest are doing well at our expense, the stock market never falls, and the CEOs are paid thousands of times more in perks, stocks and salary than we will ever see. It's the economy where luxury housing is being built while affordable housing is becoming non-existent. It's the economy where needing health care, even the simplest sort, can leave a person bankrupt.

Eventually Trump's dumb economics will be relegating Russiagate to the back pages. We're heading for a fall and depression to rival what happened in 1929. The law of gravity has not been repealed.


It's almost enough to make a person a Socialist, or an Anarcho-Capitalist, isn't it? Either the State is the problem, or the Economic System that the State protects Is.
#14937805
jimjam wrote:The initial jolt of the Republicans’ $1.5 trillion tax cuts, mostly for corporations and the wealthy, is wearing off. Corporations have bought back $437 billion of their own shares,


Who could have predicted this?

The answer is: everyone. This is basically what every analyst in the office predicted would happen.
#14937846
SpecialOlympian wrote:Who could have predicted this?

The answer is: everyone. This is basically what every analyst in the office predicted would happen.

Everyone but Donald's base ….. the Conned Ones. It will be interesting to see if they eventually smarten up. Scary how dumb the masses are.

[youtube]mHgv4McMJUk[/youtube]
#14938020
Trump's base will never smarten up.

Might as well stop playing in the land of fantasy.

"When they finally wake up and figure they've been screwed..."

No.

It isn't going to happen.

They are not going to wake up.

So deal with the alternatives.
User avatar
By jimjam
#14938111
Crantag wrote:Trump's base will never smarten up.

Might as well stop playing in the land of fantasy.

"When they finally wake up and figure they've been screwed..."

No.

It isn't going to happen.

They are not going to wake up.

So deal with the alternatives.


Agree. At the heart of the dynamics of a con lies the trueism that the conned will not admit to him/her self that they have been duped. To do so would be to admit to a degree of naivety/stupidity and it is human nature to avoid admitting an error. This simply sets the mark up for further cons, as an expert con artist such as Donald well knows. Once he cons em, he owns em.
User avatar
By jimjam
#14938544
America is becoming great …… again.

The number of senior households filing bankruptcy is not negligible. By 2050, almost a quarter of Americans, 88 million, will be over 65. If current bankruptcy trends among seniors continue, our bankruptcy courts will be flooded with financially broken retirees.

meanwhile:

This newly built modern mega mansion is located in the Bel Air neighborhood of Los Angeles, CA.

It features approximately 31,000 square feet of living space with 12 bedrooms, 24 bathrooms, multiple staircases, elevator, multiple living & dining rooms, gourmet kitchen, 5 wet bars, wine cellar, home theater, 2-lane bowling alley, salon/spa, 14-car garage and much more.

Outdoor features include a gated entrance, motor court, balconies, water & fire features, infinity pool, spa, pool house, BBQ, tennis court and a putting green.

It is listed at $100,000,000.
#14938984
Crantag wrote:Trump's base will never smarten up.

Might as well stop playing in the land of fantasy.

"When they finally wake up and figure they've been screwed..."

Trump is president, because people woke up and realized they've been screwed. Is Trump their savior? I don't think people hold him in that high esteem. I think of Trump as more like an enema for the political class. For some reason, people think there is some sort of love for Trump himself. All Trump has to do to keep his numbers up is throw illegal aliens out of the country, bash ObamaCare, and bash the FakeNews.

The whole point of the "dumb economics" commentary is because Trump is taxing importers. In other words it favors domestic businesses at the expense of people who export jobs, enslave Chinese people and then sell back to Americans who make less money than before their jobs went overseas.

I don't think Trump is going to make everything great. I just want him to make it suck for the establishment.
#14939302
blackjack21 wrote:The whole point of the "dumb economics" commentary is because Trump is taxing importers.


Not even close my friend.

Their are multiple points. To summarize, his addiction to cash will not end well for the nation and, likely, the world. Cash to Donald is like cocaine to the drug user. Feels good in the short run but …….

Also ,as an aside, the farce of Donald's "tax reform" helping the conned little guy is becoming clear:

The idea that the tax cuts were going to line workers’ pockets was always a mirage. Most people will enjoy only a modest and temporary tax cut — families earning $25,00 or less will save on average just $60 on their federal tax this year, and those making between $48,600 and $86,100 will save $930, according to the Urban-Brookings Tax Policy Center. Families in the top 1 percent, on the other hand, will save an average of $51,140.
#14939338
jimjam wrote:families earning $25,00 or less will save on average just $60 on their federal tax this year

That's because they hardly pay any tax. You can't lower someone's tax burden if they don't have one.

jimjam wrote:and those making between $48,600 and $86,100 will save $930

That's more of a raise than most families have seen in 30 years. That's why trade is relevant. It's why Trump is relevant.

jimjam wrote:Families in the top 1 percent, on the other hand, will save an average of $51,140.

That's if they hold a lot of stock--e.g., people like me. They will all lose on mortgages on new houses and on SALT. You already see SoCal real estate people howling about it. It won't be long until it hits all the blue urban areas.
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