[XogGyux]

During the 2016 campaign, trump made an aggressive promise on federal finances: He would eliminate the budget deficit within eight years. Now, three years into his presidency, the deficit is 68 percent higher than when he started.

trump's estimated deficit this FY: $4,000,000,000,000

You are not counting the 7trillion dollars in the federal reserve, most of which was used as an emergency bailout of wallstreet by buying shit assets at whatever price.
Because to save wallstreet there is no limit, throw whatever the fuck you want. Fking republicans believe in capitalism right until the moment they need to come in and super-hero fly away the companies out of bankruptcies. Now, when it comes to the actual people... then they are all about capitalism... you failed because you were not trying hard enough. Of the close to 3T that congress has passed, and ~4T+ that Fed has pumped, about 300mil or about 4% of the total have done to individuals even though we pay the vast majority of the tax. Seems fair

[Crantag]

Trumps economy is back even after Covid and the dumb riots.... aint nuffin can stop this train.... so get out the way get out the way

Don't confuse economics with finance. In my town I've noticed lately that it's hard to find an open convenience store or gas station after 8. It's because of the depression environment.

[Hindsite]

During the 2016 campaign, trump made an aggressive promise on federal finances: He would eliminate the budget deficit within eight years. Now, three years into his presidency, the deficit is 68 percent higher than when he started.

trump's estimated deficit this FY: $4,000,000,000,000

And the Democrats gladly went along with it and want to increase that deficit even more. But on the good side a lot of lives and businesses are being saved during this Chinese pandemic due to President Trump's decisive actions.

Here is some more good news for the economy:

Unemployment rate drops to 13.3% in May, signaling return of US jobs

The U.S. unemployment rate unexpectedly dropped to 13.3 percent in May, down from a record high in April, indicating the nation's economy is recovering faster than expected from the coronavirus lockdown.

The Labor Department said in its Friday report that employers added a stunning 2.5 million jobs in May -- the biggest increase on record.

https://www.foxbusiness.com/economy/may ... obs-report

The Democrat mayors and governors were still trying to keep the lockdown in force in May until a former Black convict was killed by police. Now protesting the police is more important than social distancing, so perhaps they will open up their states economy faster. We can at least hope.

[jimjam]

Unemployment rate drops to 13.3% in May, signaling return of US jobs

So far, employment numbers in this time of Covid-19 look like a fishhook: a huge decline followed by a much smaller upturn. Unemployment is still higher than it was for most of the Great Depression.
The saving graces of the situation, such as they are, are that (a) while there is immense economic hardship, it’s not nearly as severe as you might have expected given Depression-level unemployment and (b) the employment slump has so far been mostly limited to contact-intensive sectors. That is, the crisis hasn’t — yet — spilled over into a crash of the economy as a whole.

Both these saving graces, however, are the result of emergency aid — the safety net hurriedly put in place in late March, largely at Democrats’ insistence. This safety net alleviated hardship while allowing the unemployed to maintain spending and encouraging businesses to maintain their payrolls.

the nation's economy is recovering faster than expected from the coronavirus lockdown.

You are way way out of your depth talking about economics HS. See me in 2 or 3 months and we will discuss your "recovery". This shit will take years to "recover". We are still plunging.

"Coronavirus lockdown"? Please at least be consistent while regurgitating your FoxFakeNews horse shit. How about Chinese Virus lockdown.


Meanwhile back in trump's economic La-La Land:

"I'm the king of debt. I love debt," trump commented seemingly trying to explain the comfort level he has with debt after a long business career that included four bankruptcy filings by his companies.

The GOP's new tax law is expected to add $1.5 trillion to the debt over 10 years and drive the US's exploding deficit.

During a 2017 debt briefing with senior officials, Trump responded to a presentation of charts and graphics by saying, "Yeah, but I won't be here."

Trump said: "Who the hell cares about the budget? "

US debt sits at about $22 trillion, and in a few years the US could be paying more in interest on that debt than on the military or on Medicare.

[Hindsite]

US debt sits at about $22 trillion, and in a few years the US could be paying more in interest on that debt than on the military or on Medicare.

Trump says that this is the best time for the government to borrow money since the interest rate is near Zero. What great economic business do you own? I bet it is no were near worth as much as Trump's.

[Godstud]

@Hindsite Jimjam's daddy didn't probably give him a quarter of a billion dollars.


You know so little about EVERYTHING!

[XogGyux]

So far, employment numbers in this time of Covid-19 look like a fishhook: a huge decline followed by a much smaller upturn. Unemployment is still higher than it was for most of the Great Depression.
The saving graces of the situation, such as they are, are that (a) while there is immense economic hardship, it’s not nearly as severe as you might have expected given Depression-level unemployment and (b) the employment slump has so far been mostly limited to contact-intensive sectors. That is, the crisis hasn’t — yet — spilled over into a crash of the economy as a whole.

Both these saving graces, however, are the result of emergency aid — the safety net hurriedly put in place in late March, largely at Democrats’ insistence. This safety net alleviated hardship while allowing the unemployed to maintain spending and encouraging businesses to maintain their payrolls.



You are way way out of your depth talking about economics HS. See me in 2 or 3 months and we will discuss your "recovery". This shit will take years to "recover". We are still plunging.

"Coronavirus lockdown"? Please at least be consistent while regurgitating your FoxFakeNews horse shit. How about Chinese Virus lockdown.


Meanwhile back in trump's economic La-La Land:

"I'm the king of debt. I love debt," trump commented seemingly trying to explain the comfort level he has with debt after a long business career that included four bankruptcy filings by his companies.

The GOP's new tax law is expected to add $1.5 trillion to the debt over 10 years and drive the US's exploding deficit.

During a 2017 debt briefing with senior officials, Trump responded to a presentation of charts and graphics by saying, "Yeah, but I won't be here."

Trump said: "Who the hell cares about the budget? "

US debt sits at about $22 trillion, and in a few years the US could be paying more in interest on that debt than on the military or on Medicare.

Maybe he got his minions to alter the numbers to make them look good . Normaly this would be strictly in the fringe of conspiracy theory. However, he accused Obama of doing the same, and we all know Donnie, when he accuses people of doing something almost certainly he did it first .
I'll give it a non-zero chance of this being the case. Who knows, maybe this is the next scandal.
If this happens, remember where you hear it first ^_^

[Hindsite]

@Hindsite Jimjam's daddy didn't probably give him a quarter of a billion dollars.


You know so little about EVERYTHING!

However, I know a lot about a little, which is more than you know.
Praise the Lord.

[jimjam]

Trump says that this is the best time for the government to borrow money since the interest rate is near Zero. What great economic business do you own? I bet it is no were near worth as much as Trump's.

"I'm the king of debt. I love debt," trump commented seemingly trying to explain the comfort level he has with debt after a long business career that included four bankruptcy filings by his companies.

This was actually my #1 concern about trump from day 1. His obvious business model is to use other people's $ to bankrupt whatever he touches. The economic damage he is doing to America will be with us for decades. I have been moving into gold and real estate to protect myself.

[Hindsite]

"I'm the king of debt. I love debt," trump commented seemingly trying to explain the comfort level he has with debt after a long business career that included four bankruptcy filings by his companies.

This was actually my #1 concern about trump from day 1. His obvious business model is to use other people's $ to bankrupt whatever he touches. The economic damage he is doing to America will be with us for decades. I have been moving into gold and real estate to protect myself.

So you are another sucker that has fallen for those TV adds. Most countries no longer back their currencies with gold and silver and since 99% of retail transactions in industrialized countries are now done electronically, most people in the world expect that gold and silver will never again be useful as a standard means of coinage or for retail transactions. But the shiny gold and silver coins may be nice to hold and look at if it makes you feel better.

[Godstud]

@Hindsite Are you aware that right now gold is recording its highest price in about 10 years?

Land and gold retain value. That's why Jimjam invests in them, as do other long-term investors.

[jimjam]

So you are another sucker that has fallen for those TV adds. Most countries no longer back their currencies with gold and silver and since 99% of retail transactions in industrialized countries are now done electronically, most people in the world expect that gold and silver will never again be useful as a standard means of coinage or for retail transactions. But the shiny gold and silver coins may be nice to hold and look at if it makes you feel better.

Do yourself a favor and refrain from commenting on economics. You are embarrassing yourself and you don't know it. Gold I purchased in the past @$500 @ oz I can sell today @$1727.21. It is a tangible ….. something I can hold in my hand which protects me from inflation and your boy trump ….. the self proclaimed King Of Debt as he ransacks the US Treasury. TV ads? Be real ……. I buy and sell gold from my man "John" . I'm going to bed now HS …… no more time to listen to sheer economic ignorance. nighty - night

[Hindsite]

Do yourself a favor and refrain from commenting on economics. You are embarrassing yourself and you don't know it. Gold I purchased in the past @$500 @ oz I can sell today @$1727.21. It is a tangible ….. something I can hold in my hand which protects me from inflation and your boy trump ….. the self proclaimed King Of Debt as he ransacks the US Treasury. I'm going to bed now HS …… no more time to listen to sheer economic ignorance. nighty - night

They shall cast their silver in the streets, and their gold shall be removed: their silver and their gold shall not be able to deliver them in the day of the wrath of the LORD: they shall not satisfy their souls, neither fill their bowels: because it is the stumblingblock of their iniquity.
(Ezekiel 7:19 KJV)

[jimjam]

They shall cast their silver in the streets, and their gold shall be removed: their silver and their gold shall not be able to deliver them in the day of the wrath of the LORD: they shall not satisfy their souls, neither fill their bowels: because it is the stumblingblock of their iniquity.
(Ezekiel 7:19 KJV)

And trump shall cast the post office in the streets and post office retirees pensions shall be removed and be as dust cast before the four winds.
(The book of bankruptcy 1:17 DJT)

Now i'm REALLY going to bed

[Hindsite]

And trump shall cast the post office in the streets and post office retirees pensions shall be removed.
(trumpski 22:92 the real world)

Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days.
(James 5:3 KJV)

[Oxymoron]

WOW. You fall for this crap. The economy is not the stock market.

The stock market is a massive bubble right now. You got trillions of dollars from the fed buying shit assets which drives the price up. Then you have "traders" which are basically high-stake gamblers betting that the fed will continue to do this and buying more bullshit themselves. The economy cannot possibly be "back" when most everything was closed for 3 months, most businesses are cutting down on the workforce, most businesses that do open are at reduced capacity, and most cities, which are the economical power-house of the country, are in protest.

Stock Market is not a bubble, it went down and since the situation is not as dire as predicted people are reinvesting in sound blue chip companies.
Not everything was closed, and supermarkets Home depot, Lowes, walmart all made huge amount of money. Not to mention tech companies like door dash.
As the positive unemployment report demonstrates, we are back and getting stronger by the day. The riots are quieting down, and soon the protests will be over. Even if they are not over they hardly dent the economy.

[Oxymoron]

Don't confuse economics with finance. In my town I've noticed lately that it's hard to find an open convenience store or gas station after 8. It's because of the depression environment.

Anecdote.

[XogGyux]

Stock Market is not a bubble, it went down and since the situation is not as dire as predicted people are reinvesting in sound blue chip companies.
Not everything was closed, and supermarkets Home depot, Lowes, walmart all made huge amount of money. Not to mention tech companies like door dash.
As the positive unemployment report demonstrates, we are back and getting stronger by the day. The riots are quieting down, and soon the protests will be over. Even if they are not over they hardly dent the economy.

Yeah sure, keep drinking the koolaid.
Most businesses operating on the negative for almost 3 months and when they come back, they will be operating at a fraction of their usual capacity and there is still the looming threat that more shutdowns could occur during winter.
What you are seeing in the stock market is a combination of FED money bubble + speculation + the fact that the market is highly skewed towards tech companies that are not very much affected at all, if anything received a boost such as apple, Microsoft, amazon. Those 3 + walmart make over 20% of the DOW.
There is no reasonable scenario in which the stock can possibly be worth the same that it did before all the companies were actually making $$, before the unemployment was low and before the fear of a global pandemic.
Remember

The market can remain irrational longer than you can remain solvent.

Especially with the money hose that the fed has.

[Crantag]

Anecdote.

Yes, an anecdote to illustrate a point. I didn't try to use it as proof of anything I used it to demonstrate the difference between economic adversity and financial crisis.

[jimjam]

Another promise kept.

“If you elect me as your president, I will run this county like I ran my business.”
— Donald J. Trump
The Final Presidential Debate, 2016

trump's hotels and casino businesses of his have declared bankruptcy six times between 1991 and 2009 due to its inability to meet required payments and to re-negotiate debt with banks, owners of stock and bonds and various small businesses (unsecured creditors).

trump is not only wrecking the economy with his maskless performance act, he's also adding to the nation's death totals.

Does one think at this moment that the large majority of people in America believe that this economy will come roaring back? When things stared shutting down and people were out of work, didn’t any of us see the the long food bank lines?