Trump's Dumb Economics - Page 58 - Politics Forum.org | PoFo

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#15010517
snapdragon wrote:This might be slightly off topic, but only slightly....what I want to know is, how do American tax payers feel about paying for Trump's four adult children to have a free holiday in London?

edit: Free for them, I meant. It didn't cost them or their Dad one cent.

I feel good about it. They are excellent ambassadors for the American people.
Praise the Lord.
User avatar
By Beren
#15010520
Hindsite wrote:I feel good about it. They are excellent ambassadors for the American people.
Praise the Lord.

You couldn't find any better ones across your vast country. :lol:
User avatar
By jimjam
#15010651
75,000 jobs were created last month. Analysts had expected a gain of about 175,000 jobs, according to Bloomberg.

However dramatic the fall off in hiring was in May, it’s part of a larger trend suggesting that the labor market has cooled from last year, when tax cuts provided a short-term lift. In the first five months of 2019, the economy added an average of 164,000 jobs, down from an average gain of 223,000 for all of 2018.

Nevertheless, Carl Tannenbaum, chief economist at Northern Trust, puts the risk of a recession higher than at any times since the financial crisis of 2008. “They say that policy errors, not old age, end expansions, and the steps taken on the trade front in the last five weeks fall under that,” he said.

Crude oil prices, which typically rise when traders expect the economy to charge ahead, are down about 20 percent since late April.

The tariff trade war is working its very destructive way into the economy.

The 0.1% Welfare Queen Tax-Cut Sugar High is wearing off.

The national debt is exploding due to Republican malpractice.

Trump is moving manufacturing jobs from China to Vietnam and bomb production jobs to Saudi Arabia.

And Trump's time on the golf course continues to break Presidential records.

The Trump Titanic proudly accelerates into a sea of icebergs.

What a disaster.
#15010656
jimjam wrote:However dramatic the fall off in hiring was in May, it’s part of a larger trend suggesting that the labor market has cooled from last year, when tax cuts provided a short-term lift.


So, at the end of the day, 75,000 jobs were created last month.

Only the ignorant left could find something wrong with that...
#15010658
snapdragon wrote:This might be slightly off topic, but only slightly....what I want to know is, how do American tax payers feel about paying for Trump's four adult children to have a free holiday in London?

edit: Free for them, I meant. It didn't cost them or their Dad one cent.


Since President Trump donates his salary to various government agencies I don't have a problem with it, why do you?
#15010659
snapdragon wrote:This might be slightly off topic, but only slightly....what I want to know is, how do American tax payers feel about paying for Trump's four adult children to have a free holiday in London?

edit: Free for them, I meant. It didn't cost them or their Dad one cent.


I don't have a problem with it. It's the President's prerogative...
#15010695
Let's be clear: The Fed did what was prescribed. But Trump is engaging in blatant sabotage of the economy.

He's created the biggest peace-time budget deficits in American history.

Obese Donald is sabotaging our trading relationships, putting at risk the survival of the entire post-WW II system of trade that did so much to raise the world out of poverty.

He's sabotaged the ACA, which is putting the health of America's workforce at risk in the long term.

And despite this massive fiscal stimulus deriving from his unprecedented deficit spending, the economy is slowing and weakening.

The problem is not the Fed, it's Trump.
#15010738
jimjam wrote:Let's be clear: The Fed did what was prescribed. But Trump is engaging in blatant sabotage of the economy.

He's created the biggest peace-time budget deficits in American history.

Obese Donald is sabotaging our trading relationships, putting at risk the survival of the entire post-WW II system of trade that did so much to raise the world out of poverty.

He's sabotaged the ACA, which is putting the health of America's workforce at risk in the long term.

And despite this massive fiscal stimulus deriving from his unprecedented deficit spending, the economy is slowing and weakening.

The problem is not the Fed, it's Trump.

Trump did not create the budget deficit. Now that the world has been raised out of poverty, Trump has decided we need to raise our own out of poverty, unlike the Democrats, who just allow the homeless in their cities to live in tents or just sleep on the streets and spread disease, probably from those illegal immigrants they are providing sanctuary.

Because of McCain stopping the repeal and replace of Obamacare, all Trump was able to get passed was the elimination of the unfair taxing of those that refused to pay the unaffordable high premiums they would have to pay under Obama's ACA.

Trump is getting better trading deals with his tougher trade policies and has created more jobs and a booming economy by reducing taxes and job killing regulations. Now that our economy and military are much stronger because of Trump's policies, we are in a better position to demand reciprocal trade with China and that they stop stealing our companies intellectual property.
User avatar
By jimjam
#15010807
Obese Donald's proposed tariffs on Mexican imports faced bipartisan opposition. The Trump Tax -- effectively a national sales tax on all Americans.

Mr. Trump will claim that this is all the "Art of the Deal", and that he forced Mexico to solve our border issues by his tough stance and brinksmanship. In reality, he caved to the opposition from Mitch McConnell and his own Senate Republicans.

Mr. Trump's loyal cult followers are frustrated. But they will stand by him, as they always do. They will issue a post-hoc rationalization stating that he won, and beat the Mexicans.
#15010868
jimjam wrote:Obese Donald's proposed tariffs on Mexican imports faced bipartisan opposition. The Trump Tax -- effectively a national sales tax on all Americans.

Mr. Trump will claim that this is all the "Art of the Deal", and that he forced Mexico to solve our border issues by his tough stance and brinksmanship. In reality, he caved to the opposition from Mitch McConnell and his own Senate Republicans.

Mr. Trump's loyal cult followers are frustrated. But they will stand by him, as they always do. They will issue a post-hoc rationalization stating that he won, and beat the Mexicans.

Mexico has agreed to U.S. demands that it tighten its borders to stop the flow of illegal Central American immigrants from coming into the U.S. The deal suspends steep tariffs on imported Mexican goods that would have gone into effect on Monday.

The deal came after three days of lengthy negotiations to stop the flow of mostly Central American migrants into the U.S. by traveling through Mexico. In a joint declaration, Mexico agreed to increase its enforcement efforts along their southern border with Guatemala, including deploying their national guard troops.

Mexico is also taking decisive action to dismantle human smuggling and trafficking organizations as well as their illicit financial and transportation networks. Additionally, the United States and Mexico commit to strengthen bilateral cooperation, including information sharing and coordinated actions to better protect and secure our common border.

Under the agreement, the U.S. will also "immediately" expand its Migrant Protection Protocols, also known as the "Remain-in-Mexico" policy, which started at the end of January. Individuals who are trying to come to the U.S. to seek asylum are to be returned to Mexico to wait for their asylum claims to be heard in court. Mexico said that it will offer jobs, healthcare and education to the asylum-seekers.

Both parties also agree that, in the event the measures adopted do not have the expected results, they will take further actions. Therefore, the United States and Mexico will continue their discussions on the terms of additional understandings to address irregular migrant flows and asylum issues, to be completed and announced within 90 days, if necessary.
#15010869
jimjam wrote:Obese Donald's proposed tariffs on Mexican imports faced bipartisan opposition. The Trump Tax -- effectively a national sales tax on all Americans. Mr. Trump will claim that this is all the "Art of the Deal", and that he forced Mexico to solve our border issues by his tough stance and brinksmanship. In reality, he caved to the opposition from Mitch McConnell and his own Senate Republicans.


Agreed. Still I'll sit and await the results, but at least the senior republican senators can breath easy.
#15010903
Obese Donald is full of shit....

Mexico Agreed to Take Border Actions Months Before Trump Announced Tariff Deal
Having threatened Mexico with an escalating series of tariffs — starting at 5 percent and growing to 25 percent — the president faced enormous criticism from global leaders, business executives, Republican and Democratic lawmakers, and members of his own staff that he risked disrupting a critical marketplace.

After nine days of uncertainty, Mr. Trump backed down and accepted Mexico’s promises.

Mr. Trump’s decision to use trade as a bludgeon against Mexico was driven in part by his obsession with stopping what he falsely calls an invasion of the country and in part by a desire to satisfy his core supporters, many of who have grown angry at his inability to build his promised border wall.

https://www.nytimes.com/2019/06/08/us/p ... BtRRkMoeug
#15010912
Missing in the discussion so far of Obese Donald's threats to slap tariffs on Mexico is the effect his threats had on the stock market. The effects are not just a by product of his threats. It is very probably that it is the reason for them, the major intention of them. All around him, people urged him not to do it. But their urging was part of the show. They were, of course reassured that it was just a threat and thus assured they waited for the drop. This drop, even among drops was extreme. They rushed in, even some pouring money they didn't have from margin accounts, but as much as they could manage, and VOILA ! the moment it became clear that it was all a hoax, the market leaped, leaped way beyond its price before the threats. I wonder how much of Trump money went into the stock market at the nadir. Go figure.
Anyone on the inside, or just anyone who has caught on to him, might have easily made an enormous profit.
The second reason for the threats, were of course to make it seem that something was accomplished by them, a story of "Mexico" agreed to make a greater effort to stop the flow of immigrants. If you believe that any of this is real, I have a bridge over the East River to sell you.
#15010952
Godstud wrote:Obese Donald is full of shit....

Trump is still a genius. The stock market went higher.
Praise the Lord.
#15010963
Beren wrote:Trump is not a genius, it's just America so easy to con, including the stock market.

Obese Donald's tax cut for billionaires gave a trillion or so to people who didn't need it and many, quite frankly, didn't know what to do with the money. They already had all the cars, yachts and mansions that they needed/wanted and much more. Much was dumped into the stock market, real estate and shipped to over seas hiding places. The stock market and much real estate are now large and growing bubbles. That means ….. overvalued for this point in time. What do bubbles do eventually? ……. they burst …… when? next week or in a few years ….. stay tuned for the closing chapter of Obese Donald's Dumb Economics.
#15011148
jimjam wrote:Obese Donald's tax cut for billionaires gave a trillion or so to people who didn't need it and many, quite frankly, didn't know what to do with the money.

The people that got the tax cuts are those that produce jobs and know how to increase wealth. Because they know what to do with money is why they are rich.
President Trump for following an example of Jesus in parable of the talents in which the ones with the ability to gain wealth were given according to their ability.
For to everyone who has will more be given, and he will have an abundance.
(Matthew 25:29)
#15011149
I doubt very much that Jesus said: "If someone's fat, feed them more! Forget the poor. They'll always be around"


Halleluyah
#15011198
jimjam wrote:Obese Donald's proposed tariffs on Mexican imports faced bipartisan opposition. The Trump Tax -- effectively a national sales tax on all Americans.

Mr. Trump will claim that this is all the "Art of the Deal", and that he forced Mexico to solve our border issues by his tough stance and brinksmanship. In reality, he caved to the opposition from Mitch McConnell and his own Senate Republicans.

Mr. Trump's loyal cult followers are frustrated. But they will stand by him, as they always do. They will issue a post-hoc rationalization stating that he won, and beat the Mexicans.


How is this a bad thing?

https://www.nytimes.com/2019/06/08/world/americas/mexico-tariffs-migration.html
#15011221
jimjam wrote:Obese Donald's proposed tariffs on Mexican imports faced bipartisan opposition. The Trump Tax -- effectively a national sales tax on all Americans.

Trump is right over the target if he's taking that kind of flack. I think the Mexicans need to face an actual tariff though.

jimjam wrote:In reality, he caved to the opposition from Mitch McConnell and his own Senate Republicans.

In other words, the establishment who keep selling out America's interests in order to get more donations from outsourcers objected. They may have turned it in to a game, where Trump makes serious threats and the "cooler heads" talk him down. It's called "good cop, bad cop". It's an interesting game, because Pelosi et. al. oppose tariffs too, but the left flank of the Democratic party actually doesn't like NAFTA either. Pelosi was once critical of the trade deals back in the 90s, because of the effect it would have on unionized workers.

Hindsite wrote:Mexico has agreed to U.S. demands that it tighten its borders to stop the flow of illegal Central American immigrants from coming into the U.S. The deal suspends steep tariffs on imported Mexican goods that would have gone into effect on Monday.

It's obviously a very effective threat. It hurts outsourcers, which is fine at this juncture.

Godstud wrote:Obese Donald is full of shit....

Mexico Agreed to Take Border Actions Months Before Trump Announced Tariff Deal

Talk is cheap. We faced that problem with Japan in the 1980s. We're facing it with China now. China agreed to buy more American goods too. They just haven't done it.

jimjam wrote:Missing in the discussion so far of Obese Donald's threats to slap tariffs on Mexico is the effect his threats had on the stock market. The effects are not just a by product of his threats. It is very probably that it is the reason for them, the major intention of them. All around him, people urged him not to do it. But their urging was part of the show. They were, of course reassured that it was just a threat and thus assured they waited for the drop. This drop, even among drops was extreme. They rushed in, even some pouring money they didn't have from margin accounts, but as much as they could manage, and VOILA ! the moment it became clear that it was all a hoax, the market leaped, leaped way beyond its price before the threats. I wonder how much of Trump money went into the stock market at the nadir. Go figure.

He he he. Not as likely, but it would be quite clever. And... not illegal either.

jimjam wrote:Obese Donald's tax cut for billionaires gave a trillion or so to people who didn't need it and many, quite frankly, didn't know what to do with the money.

:roll: Really? When has figuring out what to do with money been that big a challenge? Congress seems to have a never-ending supply of ideas on how to waste our money.

jimjam wrote:They already had all the cars, yachts and mansions that they needed/wanted and much more.

Consumption is not the only purpose of money by a long shot. For example, did they have all the graders, backhoes, excavators, pile drivers, and dozers they needed? Some things that aren't really super duper cool and give you a thrill up their leg also cost lots of money.
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