[XogGyux]

He gave the evidence to you but you're too stupid, or too stubborn, to accept it.

These are not mutually exclusive could be both!

[jimjam]

America’s trade deficit in goods with the rest of the world rose to its highest level in history last year as the United States imported a record number of products, including from China, widening the deficit to $891.3 billion and delivering a setback to President Trump’s goal of narrowing that gap.

The widening gap was also exacerbated by Mr. Trump’s $1.5 trillion tax cut, which has been largely financed by government borrowing, and the trade war he escalated last year. Mr. Trump’s tax cuts would ultimately exacerbate a trade deficit he has vowed to reduce, as Americans, flush with extra cash, bought more imported goods.

His trade war with Beijing also widened the gap: Stiff tariffs on Chinese goods helped slow China’s economy, crimping American exports, which declined nearly 50 percent in December from the same month a year before.

and

The tax cuts are also helping to swell the federal budget deficit, which Mr. Trump similarly pledged to reduce — and, in fact, eliminate — as a candidate. On Tuesday, Treasury Department figures showed the budget deficit widening, and it is on track to top $1 trillion this fiscal year. Federal Reserve officials and some economists warn that federal borrowing is growing too quickly and will ultimately swamp the American economy, with the United States paying huge sums of interest on the debt. The Fed chairman, Jerome H. Powell, warned lawmakers at a House hearing last week that the federal debt was on an “unsustainable” path.

Promises made, promises...what was the rest of that slogan?

Anyway, I'm sure the MAGA crowd understands and appreciates all the subtle nuances and difficulties of international trade, so no problem. I used to wonder how anyone could go bankrupt 6 times. Not anymore.

[XogGyux]

America’s trade deficit in goods with the rest of the world rose to its highest level in history last year as the United States imported a record number of products, including from China, widening the deficit to $891.3 billion and delivering a setback to President Trump’s goal of narrowing that gap.

The widening gap was also exacerbated by Mr. Trump’s $1.5 trillion tax cut, which has been largely financed by government borrowing, and the trade war he escalated last year. Mr. Trump’s tax cuts would ultimately exacerbate a trade deficit he has vowed to reduce, as Americans, flush with extra cash, bought more imported goods.

His trade war with Beijing also widened the gap: Stiff tariffs on Chinese goods helped slow China’s economy, crimping American exports, which declined nearly 50 percent in December from the same month a year before.

and

The tax cuts are also helping to swell the federal budget deficit, which Mr. Trump similarly pledged to reduce — and, in fact, eliminate — as a candidate. On Tuesday, Treasury Department figures showed the budget deficit widening, and it is on track to top $1 trillion this fiscal year. Federal Reserve officials and some economists warn that federal borrowing is growing too quickly and will ultimately swamp the American economy, with the United States paying huge sums of interest on the debt. The Fed chairman, Jerome H. Powell, warned lawmakers at a House hearing last week that the federal debt was on an “unsustainable” path.

Promises made, promises...what was the rest of that slogan?

Anyway, I'm sure the MAGA crowd understands and appreciates all the subtle nuances and difficulties of international trade, so no problem. I used to wonder how anyone could go bankrupt 6 times. Not anymore.

I wonder, who do trump supporters think will end up paying for this? Mexico? Haha
I find this scary if not terrifying. Best case scenario at some point we will have to pay for it with much higher taxes, worse case scenario this could wreck america economy with ripple into the word’s economy.

[jimjam]

Over two years of unified G.O.P. control of government, a funny thing happened: Both deficits surged. The budget deficit has hit a level unprecedented except during wars and in the immediate aftermath of major economic crises; the trade deficit in goods has set a record.

And the supposed cause of the deficit isn’t the only thing Trump gets wrong about trade policy. He also keeps insisting that foreigners are paying his tariffs. In reality, prices received by foreign exporters haven’t gone down. Prices paid by U.S. consumers have gone up, instead.

Again, the swelling trade deficit doesn’t pose any immediate threat to the U.S. economy. And even the Trumpian trade war has probably done only limited economic harm; the main damage is to U.S. credibility.

But Trump’s deficits show that he is completely clueless about his signature policy issue. Luckily, a great nation like America can survive a lot, including dishonesty and ignorance at the top.

I have a feeling this thread will be around for the duration of Donald's reign. What can one expect from a NYC real estate operator who has gone bankrupt six times using a business model of flooding the playing field with cash and, after the bottom falls out, disappearing into a flood of lawyers and unpaid bills.

[jimjam]

The 2017 Trump tax law is a dreadful piece of economic policy — essentially a giant effort to aggravate income inequality. Tax cuts that benefit the wealthy most are huge and permanent. Tax cuts focused on everyone else are smaller and temporary. A better policy response would start with a tax cut focused on the majority of Americans, not the wealthy.

President Trump likes to brag about the supposedly booming economy. So do other Republican politicians. Some journalists have gotten into the habit too, exaggerating the strength of the economic expansion, because it makes for a good story.

Here’s the truth: There is no boom. The economy has been mired in an extended funk since the financial crisis ended in 2010. G.D.P. growth still has not reached 3 percent in any year, and 3 percent isn’t a very high bar.A primary culprit is a savings glut. Americans are saving more and spending less partly because the rich now take home so much of the economy’s income — and the rich don’t spend as large a share of their income as the poor and middle class. The aging of society plays a role too, because people are saving for retirement.

[redcarpet]

The U.S is losing the trade war with China and ANOTHER campaign promise with the trade deficit at a historical high (as well as debt!).

Here’s the truth: There is no boom. The economy has been mired in an extended funk since the financial crisis ended in 2010. G.D.P. growth still has not reached 3 percent in any year, and 3 percent isn’t a very high bar.A primary culprit is a savings glut. Americans are saving more and spending less partly because the rich now take home so much of the economy’s income — and the rich don’t spend as large a share of their income as the poor and middle class. The aging of society plays a role too, because people are saving for retirement.

Word! Trump’s economy is leaving his right-wing base stranded in poverty — and it’s getting worse and no, No, Trump Voters, Your Wages Aren’t Going Up

[Hindsite]

I wonder, who do trump supporters think will end up paying for this? Mexico? Haha
I find this scary if not terrifying. Best case scenario at some point we will have to pay for it with much higher taxes, worse case scenario this could wreck america economy with ripple into the word’s economy.

As long as we keep AOC out of it and leave the complicated stuff to our resident genius, then I suspect we will be okay.

[jimjam]

The president’s party is trying to set up the 2020 election as a war against the S-word. “America will never be a socialist country,” Trump announced in his last State of the Union speech. At a big gathering of conservatives, Mike Pence warned that “Medicare for all” and the Green New Deal were “the same tired economic theories that have impoverished nations … over the past century. That system is socialism.” Republicans can’t stop howling about socialism. But nobody makes capitalism look worse than Donald Trump.

But the magic of the marketplace can get you into plenty of trouble, too. For a good example of when the system doesn’t work, just look at Trump’s relationship with Deutsche Bank, which has given him about $2 billion in loans over the years. Two billion dollars to a guy whose major financial talent seems to be defaulting.

Trump wanted to borrow $125 million from DB to renovate a building on Wall Street. And what did they see? Well, at that point Trump was a host of WrestleMania and a frequent guest of the Howard Stern radio show. And he had gotten famous for not paying back loans. But what the hell. The Deutschebankers said yes. Maybe they had read “The Art of the Deal” without noticing that it was clearly written by somebody else.

I can't wait to banish socialism from America in one key arena: the socializing of business risks. No more government bailouts for Wall Street banks, no more sweetheart government loans to pharma, tech, and energy startups, no more subsidies for toxic cleanups, no more taxpayer-supported research and data that companies can privatize for free. Business people can shoulder all those expenses themselves, because they have what it takes to haul themselves up by their bootstraps.

[Hindsite]

The president’s party is trying to set up the 2020 election as a war against the S-word. “America will never be a socialist country,” Trump announced in his last State of the Union speech. At a big gathering of conservatives, Mike Pence warned that “Medicare for all” and the Green New Deal were “the same tired economic theories that have impoverished nations … over the past century. That system is socialism.” Republicans can’t stop howling about socialism. But nobody makes capitalism look worse than Donald Trump.

But the magic of the marketplace can get you into plenty of trouble, too. For a good example of when the system doesn’t work, just look at Trump’s relationship with Deutsche Bank, which has given him about $2 billion in loans over the years. Two billion dollars to a guy whose major financial talent seems to be defaulting.

Trump wanted to borrow $125 million from DB to renovate a building on Wall Street. And what did they see? Well, at that point Trump was a host of WrestleMania and a frequent guest of the Howard Stern radio show. And he had gotten famous for not paying back loans. But what the hell. The Deutschebankers said yes. Maybe they had read “The Art of the Deal” without noticing that it was clearly written by somebody else.

I can't wait to banish socialism from America in one key arena: the socializing of business risks. No more government bailouts for Wall Street banks, no more sweetheart government loans to pharma, tech, and energy startups, no more subsidies for toxic cleanups, no more taxpayer-supported research and data that companies can privatize for free. Business people can shoulder all those expenses themselves, because they have what it takes to haul themselves up by their bootstraps.

In other words, you want to destroy our economy.

[jimjam]

In other words, you want to destroy our economy.

In time it will destroy itself along with a nice greed assist from Donald and his plutocratic 0.1 %'ers.

as an aside ….. I never could fathom why multi billionaires want ever more billions. Even H.S. i'm sure will agree that you cannot take it with you after you drop dead and go 6 feet under. This strange behavior simply bears out my opinion that money/power is the most addicting drug in history. In January one of Donald's buddies purchased a condo in NYC for $238,000,000 shortly after purchasing a house in London for $120,000,000. The guy is a mental case not unlike his flim flam front man Donald. WTF is the point .

[Hindsite]

In time it will destroy itself along with a nice greed assist from Donald and his plutocratic 0.1 %'ers.

as an aside ….. I never could fathom why multi billionaires want ever more billions. Even H.S. i'm sure will agree that you cannot take it with you after you drop dead and go 6 feet under. This strange behavior simply bears out my opinion that money/power is the most addicting drug in history. In January one of Donald's buddies purchased a condo in NYC for $238,000,000 shortly after purchasing a house in London for $120,000,000. The guy is a mental case not unlike his flim flam front man Donald. WTF is the point :?:.

You got me on that one. I have no idea.

[jimjam]

If you give huge tax breaks to any group or groups, the flow of money into the economy will provide a temporary stimulus. The media have been giving Trump credit for the boom when he simply artificially boosted an economy that was already humming along. Now the effects are wearing off and the huge deficits, the unnecessary tariffs and the economic uncertainty caused by a reckless leader are starting to take their toll.

I think a lot of us are tired of being told the health of our economy is strong, our stock market bloated with all of the stock buybacks and Fed rigging. I often think about the Fed's 4.5 trillion dumped out to banks, flowing into real estate, into corporate debt--much of it risky--and into the market, helping the very rich. But it did not shed its largesse on those who had no capital--those in the bottom 50% of households who need the help most, many of which are supported by those who work very hard for too little.

Did anyone really expect anything different? Ballooning deficits, wasteful spending (military and wall) and failure to invest in things that make country more productive — education and infrastructure have gone nowhere. Just a giant deficit busting tax cut —

[Hindsite]

Did anyone really expect anything different? Ballooning deficits, wasteful spending (military and wall) and failure to invest in things that make country more productive — education and infrastructure have gone nowhere. Just a giant deficit busting tax cut —

Blame the Democrats because it was the Democrat's disregard for the working class, illegal immigration, education, and infrastructure along with Obama's doubling the national debt and screwing up the healthcare system is what allowed Donald Trump to become President.

[jimjam]

Blame the Democrats

Has your boy Donald ever been blamed for anything?

Has he ever accepted responsibility for anything that did not go well?

[Hindsite]

Has your boy Donald ever been blamed for anything? :?:

Has he ever accepted responsibility for anything that did not go well? :?:

It is stupid to take blame for something that is not your fault. Trump is too smart for that.
Praise the Lord.

[jimjam]

It is stupid to take blame for something that is not your fault. Trump is too smart for that.
Praise the Lord.

Surprisingly ( ) you seem to have missed the point. I'll try again. Has Donald ever taken responsibility for something he has done that has gone wrong or ……. has everything he has ever done been a resounding success?

[Hindsite]

Surprisingly ( ) you seem to have missed the point. I'll try again. Has Donald ever taken responsibility for something he has done that has gone wrong or ……. has everything he has ever done been a resounding success?

Well, he seems to have been a pretty big success to me. But I have never been a billionaire married to a beautiful model or been President of the USA so I may not be able to judge fairly.

[jimjam]

I may not be able to judge fairly.

good dodge. I guess i'll have to read between the lines. "He's full of shit and doesn't have the guts to take responsibility for his decisions gone wrong." And, of course, he has made some bad decisions because, as you know, only God is perfect.

Huzzah!

on a more serious note: On rare occasions, long-term yields can actually fall below yields on short-term bonds — a “yield curve inversion” in the parlance of the markets. Such unusual occurrences have preceded every recession over the last 60 years.

And it happened on Friday.

[Hindsite]

good dodge. I guess i'll have to read between the lines.

No, Just put on a tin foil hat.
HalleluYah

[jimjam]

No, Just put on a tin foil hat.
HalleluYah

OK, remove your tin foil hat for a moment and give me your thoughts on a yield inversion...………...