Trump's Dumb Economics - Page 87 - Politics Forum.org | PoFo

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#15075687
blackjack21 wrote:Dumb and pointless. Hotel owners lose billions when there is a quarantine. Trump isn't creating emergency situations to profit himself.

Only if you change my context which you did and do constantly. I made no reference to quarantine or the current situation. I was pointing out Donald's life long M.O. of borrowing, borrowing, skimming and declaring bankruptcy. He is using the same M.O. now that he is able to raid the U.S. Treasury and has been doing so for the past 3 years before quarantine.
User avatar
By jimjam
#15075732
Unfortunately the situation is worse than the lack of leadership, trump and mnuchin are angling for special financial powers due to the pandemic that will allow them to make massive payoffs with public money to favored corporations that support trump. These people are venal beyond comprehension, and are hoping to circumvent the House of Representatives and its constitutional duty to control spending of public tax dollars in the public interest.

Socialism for corporations and peons get: Total U.S. household debt reached a record $14.15 trillion at the end of the year after increasing by $193 billion, or 1.4%, in the fourth quarter of 2019, according to the Fed’s Quarterly Report on Household Debt and Credit.
#15075835
jimjam wrote:Unfortunately the situation is worse than the lack of leadership, trump and mnuchin are angling for special financial powers due to the pandemic that will allow them to make massive payoffs with public money to favored corporations that support trump. These people are venal beyond comprehension, and are hoping to circumvent the House of Representatives and its constitutional duty to control spending of public tax dollars in the public interest.

Socialism for corporations and peons get: Total U.S. household debt reached a record $14.15 trillion at the end of the year after increasing by $193 billion, or 1.4%, in the fourth quarter of 2019, according to the Fed’s Quarterly Report on Household Debt and Credit.

That is because the left are not taught to understand economics and be smart with their money. They borrow too much to get a higher education because they will not settle for a less expensive school. Then they are not satisfied to live in a home that fits their budget resulting in huge mortgages. I, on the other hand, have lived within my means and still own two homes free of mortgage payments and two payed off cars with credit card debt that I pay off every month to avoid finance charges.
User avatar
By jimjam
#15075840
Hindsite wrote:That is because the left are not taught to understand economics and be smart with their money. They borrow too much to get a higher education because they will not settle for a less expensive school. Then they are not satisfied to live in a home that fits their budget resulting in huge mortgages. I, on the other hand, have lived within my means and still own two homes free of mortgage payments and two payed off cars with credit card debt that I pay off every month to avoid finance charges.

Awesome ….. only people on the "left" have household debt. Wait a sec …….. I have zero debt, get to live in South Florida in Winter and the coast of Maine in Summer and haven't worked a twit in 15 years. Does that mean I am on the "right"? Help me here HS. I'm confused :?: (which most likely means i'm on the "left").
#15075843
jimjam wrote:Awesome ….. only people on the "left" have household debt. Wait a sec …….. I have zero debt, get to live in South Florida in Winter and the coast of Maine in Summer and haven't worked a twit in 15 years. Does that mean I am on the "right"? Help me here HS. I'm confused :?: (which most likely means i'm on the "left").

There are always exceptions to every generality.
User avatar
By jimjam
#15077931
So what’s in the stimulus bill that McConnell is trying to ram through the Senate? It grudgingly provides some, but only some, of the aid Americans in distress will need. Funny, isn’t it, how helping ordinary Americans is always framed as a “Democratic demand”? And even there the legislation includes poison pills, like a provision that would deny aid to many nonprofit institutions like nursing homes and group homes for the disabled.

But it also includes a $500 billion slush fund for corporations that the Trump administration could allocate at its discretion, with essentially no oversight. This isn’t just terrible policy; it’s an insult to our intelligence.

A $500 billion slush fund, subject to no Congressional oversight, with the recipients names kept secret for six months and Trump in charge? What could go wrong? :lol: This isn't a slush fund. It's a 500 billion dollar bribe to get big business to back Trump in Nov. That is the only reasonable explanation. When Mnuchin says the recipients of the payoffs will be kept secret for six months, that virtually assures that the intent of the fund is to be used as bribe money for political support.
#15078120
jimjam wrote:So what’s in the stimulus bill that McConnell is trying to ram through the Senate? It grudgingly provides some, but only some, of the aid Americans in distress will need. Funny, isn’t it, how helping ordinary Americans is always framed as a “Democratic demand”? And even there the legislation includes poison pills, like a provision that would deny aid to many nonprofit institutions like nursing homes and group homes for the disabled.

But it also includes a $500 billion slush fund for corporations that the Trump administration could allocate at its discretion, with essentially no oversight. This isn’t just terrible policy; it’s an insult to our intelligence.

A $500 billion slush fund, subject to no Congressional oversight, with the recipients names kept secret for six months and Trump in charge? What could go wrong? :lol: This isn't a slush fund. It's a 500 billion dollar bribe to get big business to back Trump in Nov. That is the only reasonable explanation. When Mnuchin says the recipients of the payoffs will be kept secret for six months, that virtually assures that the intent of the fund is to be used as bribe money for political support.

You are jumping the gun. As Nancy Pelosi would say, "We have to pass it to see what's in it." :lol:
HalleluYah
#15090177
Covid-19 has had a devastating effect on workers. The economy has plunged so quickly that official statistics can’t keep up, but the available data suggest that tens of millions of Americans have lost their jobs through no fault of their own, with more job losses to come and full recovery probably years away.

But Republicans adamantly oppose extending enhanced unemployment benefits — such an extension, says Senator Lindsey Graham, will take place “over our dead bodies.” (Actually, over other people’s dead bodies.)

Finally, the devastation caused by the coronavirus has left many in the world’s wealthiest major nation unable to put sufficient food on the table. Families with children under 12 are especially hard hit: According to one recent survey, 41 percent of these families are already unable to afford enough to eat. Food banks are overwhelmed, with lines sometimes a mile long.

But Republicans are still trying to make food stamps harder to get, and fiercely oppose proposals to temporarily make food aid more generous. Republicans complain that food stamps and unemployment benefits reduce the incentive to seek work. There was never serious evidence for this claim, but right now — at a time when workers can’t work, because doing their normal jobs would kill lots of people — I find it hard to understand how anyone can make this argument without gagging.

I guess it's time for another tax break for billionaires. "Trickle down" you know :lol: .
#15090203
33 millions lost their job in the US in the first couple of months while Germany hardly lost 400k jobs, even though German export industry has been hit harder than most in the global downturn. There are about 10 million German workers on short time work during which they get most of their salary without working. They keep their jobs and companies keep their qualified workers to quickly restart production once the economy improves. During the growth years, Germany has reduced debts and consistently produced a budget surplus, which gives it the reserves to spend big time now. Most of the money goes into preserving jobs and into keeping companies afloat. There is a wide range of measures reaching even the gig economy to help artists, entertainers and other freelancers get through the lockdown. Needless to say that virtually everybody has health coverage and there is welfare for those who fall through the safety net.

It is planned that even more money will be spent on stimulus packages once we leave the lockdown behind and the economy starts to pick up again.
#15090306
Atlantis wrote:33 millions lost their job in the US in the first couple of months while Germany hardly lost 400k jobs, even though German export industry has been hit harder than most in the global downturn. There are about 10 million German workers on short time work during which they get most of their salary without working. They keep their jobs and companies keep their qualified workers to quickly restart production once the economy improves. During the growth years, Germany has reduced debts and consistently produced a budget surplus, which gives it the reserves to spend big time now. Most of the money goes into preserving jobs and into keeping companies afloat. There is a wide range of measures reaching even the gig economy to help artists, entertainers and other freelancers get through the lockdown. Needless to say that virtually everybody has health coverage and there is welfare for those who fall through the safety net.

It is planned that even more money will be spent on stimulus packages once we leave the lockdown behind and the economy starts to pick up again.

Germany does not have as many people as the USA. :lol:
User avatar
By Godstud
#15090307
Germany has about 25% the population of the USA. They should have about 8 million job losses then. They do not. They only have 400,000. So, they have had 20 times less unemployed.

Is math another thing they don't learn in Georgia?
#15090312
Godstud wrote:Germany has about 25% the population of the USA. They should have about 8 million job losses then. They do not. They only have 400,000. So, they have had 20 times less unemployed.

Is math another thing they don't learn in Georgia?

Don't you know that the USA has a much bigger economy? :moron:
User avatar
By Godstud
#15090315
Math really isn't your strong suit. Germany's economy, per capita, equals the USA. it is the 4rth largest economy in the world.

Multiply Germany by 4 and you have an economy every bit as strong as the USA, and so it is very much comparable.
#15090318
Godstud wrote:Math really isn't your strong suit. Germany's economy, per capita, equals the USA. it is the 4rth largest economy in the world.

Multiply Germany by 4 and you have an economy every bit as strong as the USA, and so it is very much comparable.

I've had enough fun for tonight. It is way past my bedtime. :lol:
User avatar
By Godstud
#15090321
That probably explains some lapses in judgement. Have a good night @Hindsite. :D
#15090325
Hindsite wrote:Germany does not have as many people as the USA. :lol:


Then look at it another way. US unemployment has increased from about 3% before the pandemic to about 15% now, while German unemployment has increased by about 0.5%.
By fokker
#15090443
The US unemployment is not crippling or permanent yet. If the economy is re-opened quickly enough, those people will get re-hired back to their old jobs. That is a nightmare scenario for Democrats who hope for a ruined economy to blame it on Trump to win the election. Waiting for new cases to drop would take too long, majority of them seem to be of intrafamilial origin anyway. Those afraid to go out can follow Democrats advice and refuse to return to work.
User avatar
By XogGyux
#15090444
fokker wrote:The US unemployment is not crippling or permanent yet. If the economy is re-opened quickly enough, those people will get re-hired back to their old jobs. That is a nightmare scenario for Democrats who hope for a ruined economy to blame it on Trump to win the election. Waiting for new cases to drop would take too long, majority of them seem to be of intrafamilial origin anyway. Those afraid to go out can follow Democrats advice and refuse to return to work.


A lot of ifs.
Also... this idea that Democrats want the economy to tank... if they wanted that... all they have to do is stonewall for 6 months, no more package aids and voila, instant shitty economy coming right up :lol: .
Seriously, the only reason the stock market is not in the tank right now is the TRILLIONS of dollars that the goverment/fed has pumped into the system. What is it now 5-8 Trillion $$ in less than 3 months? Between this and the taxcuts from a couple of years back, by the end of Trump's first time he would have spent more money than both of Obama's terms combined :lol: .
How many empty promesses does it take? 1000? 100000? I bet he has plenty more empty promesses.
#15090472
Atlantis wrote:Then look at it another way. US unemployment has increased from about 3% before the pandemic to about 15% now, while German unemployment has increased by about 0.5%.

That is because the top health policy advisor on the White House coronavirus task force is Obama holdover Dr. Anthony Fauci, the head of the National Institutes of Health. It should be clear by now that Dr. Fauci is very political and also a moran from his crazy advice. I hear that Dr. Deborah Brix will stay on at the white house but not Dr. Fauci. I am glad President Trump has finally wised up to Dr. Fauci and will not be taking his advice anymore. It is sort of like his experience with Jim Comey, another political bastard.
HalleluYah
User avatar
By jimjam
#15092903
The expanded unemployment benefits that are doing so much good are set to expire on July 31. That should scare you.

Suppose, after all, that the epidemiologists are right, and that premature reopening leads to a second wave of infections. What we’ll need in that case is a second lockdown. But all indications are that Republicans are totally opposed to extending benefits.

What they want, instead, is legislation that would protect businesses from liability if their employees get sick.

That is, they want to force Americans to go to work even if it kills them.
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