[Hong Wu]

I haven't been reading this thread because it's like, Trump is a billionaire after operating multiple kinds of operations, becomes President, the US economy is doing historically well and then some people argue that he's bad at economics because they want him to be bad. Delusional.

Still, this story was retarded enough that I felt like posting it somewhere: https://www.thedailybeast.com/can-whart ... degree-now

The Daily Beast apparently operates in such an echo chamber that they believe they might get Trump's school to revoke his degree in economics (do schools even do that?) despite his across-the-board success in economic matters. Sad!

[blackjack21]

President Trump’s new tariffs on Chinese imports, which took effect at 12:01 a.m. on Friday, are taxes that will be paid by Americans.

It will be paid by Americans who purchase Chinese goods. Goods from the US and other parts of the world remain unaffected. So they will enjoy more competitive pricing vis-a-vis the Chinese-made products.

A tariff is a consumption tax, much like a sales tax, and such taxes tend to be regressive, meaning they cost lower-income families a larger share of their income than they cost upper-income families. There are better ways to raise the money.

By lowering the cost of Chinese-made goods, companies also had the incentive to layoff American workers and move production to China. The tariffs hurt the process of outsourcing jobs. That makes the job market more profitable for lower-income families in America. They are all pretty well aware of that now.

Americans will be paying higher prices on a wide range of goods.

Range of goods from China--if Americans buy Chinese-made goods instead of goods made in the US or elsewhere.

Nice comeback with facts, BTW. Why didn't you just yell, "Fake News!", like the other right-wingers?

My comment didn't have to do with fake news. My comment had to do with your lack of subject/verb agreement by your failure to use a possessive pronoun whilst calling somebody else "stupid." I find the collapse of grammar whilst insulting the intelligence of others an interesting phenomenon.

The rich got the BIG tax cuts.

Corporations got the big tax cuts.

Is insults all you can muster now?

Now you have singular/plural verb-subject disagreement while trying to insult Hindsite. It really is a remarkable phenomenon.

I haven't been reading this thread because it's like, Trump is a billionaire after operating multiple kinds of operations, becomes President, the US economy is doing historically well and then some people argue that he's bad at economics because they want him to be bad.

As noted, his detractors do not seem to have a policy basis for disagreeing with him. Instead, Trump's detractors focus on character defects, his intelligence, poor morals, poor manners, etc. It has been a losing strategy so far, and one they show no signs of abandoning.

[jimjam]

Trump's detractors focus on character defects, his intelligence, poor morals, poor manners, etc.

Don't forget incompetence and playing out of his league. Really, what has he done so far. A big tax gift for billionaires and corporations and lots of proclamations requiring only his autograph. Not a whole lot of legislation. His China gambit will prove to be entertaining. I'm with him as to calling China out but bringing his methodology to the China game is ill advised at best. Obese Donald's idea of a deal is to not only get more $$ but to humiliate his "opponent". I rather doubt that China desires to become the world's laughingstock by being humiliated by Obese Donald. They will endure severe economic losses before that happens. Obese Donald's M.O. is best illustrated by his fucking of a rug subcontractor in one of his real estate monstrosities. Donald does a walk thru and tells the hapless sub contractor that something is an eighth of an inch off and the hapless sub contractor will be paid …. nothing. Don then pulls his 2 or 3 dozen lawyer act and the hapless sub contractor is fucked. Donnie does this over and over. Won't work with China though.

[Hindsite]

Thank you. Your anecdotal evidence is worthless. Present some facts. You saying something happening doesn't mean it is.

2018 was the worst for stocks in 10 years
https://edition.cnn.com/2018/12/31/inve ... index.html

CNN fake news is worthless to prove any facts.

[Godstud]

@Hindsite Just the other day you were using CNN as a source. Is it only true when it agrees with you?

Fox News agree...

Stock market woes raise a nagging fear: Is a recession near?
Fears of a recession have been mounting with the U.S. stock market appearing to be headed for its worst December since 1931 — during the Great Depression.
Wall Street's sustained slump has been fueled by investor concerns about lower corporate profits, higher corporate debt, a festering trade war between the United States and China and a broader global slowdown.
https://www.foxnews.com/us/stock-market ... ssion-near

A Foolish Take: What 2018's Stock Market Drop Means for 2019
2018 has been a disappointment for many market participants, breaking a nine-year streak of positive returns for investors in the S&P 500 (SNPINDEX: ^GSPC). Nobody likes losing money, and even if stocks manage to make up a bit of ground on the last trading day of the year Monday, it's unlikely to be enough to offset the 7% year-to-date drop coming out of the weekend.
https://www.foxbusiness.com/markets/a-f ... s-for-2019

Cmon, let me hear you say it.

"Fake News!"

[Hindsite]

Dow 26,000 and Apple's $350B Pledge Just Latest Examples of Trump Boom
01-18-2018

Stocks have had a huge move upward since Donald Trump's election, closing above 26,000 for the first time Wednesday.

President Trump's number one choice Wednesday night for his fake news awards was a New York Times column by economist Paul Krugman who claimed the stock market would never recover if Trump was elected.

Instead, stocks have boomed.
https://www1.cbn.com/cbnnews/us/2018/ja ... trump-boom

Dow Jones - 10 Year Daily Chart
https://www.macrotrends.net/1358/dow-jo ... t-10-years

The Dow is at 25,942 as of 5/10/2019.

[Godstud]

They boomed, then slumped. I guess you aren't away of what happened in Sep, but I am sure you don't follow the stock market. I was lucky enough to move a great deal of money out of the stock market just before the slump, so it hardly touched me. Others weren't so lucky.

You still can't dismiss the facts, and even your vaunted Fox news is in agreement. This is only 2 companies, not the stock market.

[Hindsite]

They boomed, then slumped. I guess you aren't away of what happened in Sep, but I am sure you don't follow the stock market. I was lucky enough to move a great deal of money out of the stock market just before the slump, so it hardly touched me. Others weren't so lucky.

You still can't dismiss the facts, and even your vaunted Fox news is in agreement. This is only 2 companies, not the stock market.

The Dow went back up over 26,000 again in November 2018. Just take a look at the chart. It never even went close to as low as it was a decade ago. Sure the numbers go up and down every day, but the economy is still great.

[jimjam]

Obese Donald's Tax reduction for billionaires and corporations recently presented our wealthiest 1% or so with a terrible dilemma: what to do with their additional billions. There are only so many mansions, yachts and personal jets you can own. What we have seen is large amounts of money flowing offshore and into the stock market. The stock market, and to some extent, the real estate market are now significantly over valued and we are approaching the bust side of a typical boom/bust cycle. When will the bust come is the only question. It will come and the bigger the over valuation …. the bigger the bust. It may happen next week or it may happen in 5 years. We'll see. Economic valuations are both a function of supply and demand and psychological perceptions. An adverse psychological perception caused by, for example, an easy to win trade war can catch on and spread like wild fire. And, as is well known, if you play with fire you get burned sooner or later ………… as Obese Donald has failed to learn as a result of his six bankruptcies. Stay tuned ….. this is going to be interesting and, as a Chinese proverb states, "May you live in interesting times."

Maybe tax legislation that put more wealth into the hands of the bottom 90% would have stimulated increased consumption in our consumption based economy . Oh well …. too late now. I saw a guy laying in the gutter today who, i'm sure, is quite thrilled with the "Trump Boom".

[Hindsite]

Maybe tax legislation that put more wealth into the hands of the bottom 90% would have stimulated increased consumption in our consumption based economy :?: . Oh well …. too late now. I saw a guy laying in the gutter today who, i'm sure, is quite thrilled with the "Trump Boom".

You will never get that from the liberal Democrats. Lowering any taxes is an abomination to them. They are for providing many social programs that requires raising taxes not lowering them.

[jimjam]

You will never get that from the liberal Democrats. Lowering any taxes is an abomination to them. They are for providing many social programs that requires raising taxes not lowering them.

You and I disagree on most things but I respect your views. Unfortunately in America these days if someone has an opinion that differs they are either a filthy liberal or a filthy conservative. It would be nice if we had more respect for the persons who have views that differ form our own views .

[Stormsmith]

You will never get that from the liberal Democrats. Lowering any taxes is an abomination to them. They are for providing many social programs that requires raising taxes not lowering them.

And yet you republicans are celebrating paying a ton of taxes for goods from Canada, China etc etc called tariffs up to 25%.Ouch. And on top of that you'rè subsidizing farmers . Good Grief!

[Hindsite]

And yet you republicans are celebrating paying a ton of taxes for goods from Canada, China etc etc called tariffs up to 25%.Ouch. And on top of that you'rè subsidizing farmers . Good Grief!

The threatend tariffs resulted in a trade agreement with Mexico and Canada. It is only waiting for ratification by the Democrats in Congress. But they seem to interested in obstructing and investigating the President. The Chinese are much more stubborn because they have been ripping us off in trade and intellectual property for decades and don't want to give it up. The government has been subsidizing the farmers for decades to not plant certain crops, so that is no big deal.

Why Does the Govt. Pay Farmers to Not Grow Crops?
Economy Aug 4, 2009 12:44 PM EDT

Paying farmers not to grow crops was a substitute for agricultural price support programs designed to ensure that farmers could always sell their crops for enough to support themselves.
https://www.pbs.org/newshour/economy/wh ... ay-farmers

[jimjam]

no big deal.

$15,000,000,000 here today …… gone tomorrow. "No big deal." Just add it to the Trump Deficit . I have noticed that Trump Zombies are really really bad at math.

Trump has promised to “make it up” to farmers hurt by Chinese tariffs against soybeans and other agricultural products. Previously set at $12bn, on Monday he suggested the compensation could go even higher.

He said: “We’re going to take the highest year, the biggest purchase that China has ever made with from our farmers, which is about $15bn, and do something reciprocal to our farmers so our farmers can do well.”

[Hindsite]

$15,000,000,000 here today …… gone tomorrow. "No big deal." Just add it to the Trump Deficit .

Trump has promised to “make it up” to farmers hurt by Chinese tariffs against soybeans and other agricultural products. Previously set at $12bn, on Monday he suggested the compensation could go even higher.

He said: “We’re going to take the highest year, the biggest purchase that China has ever made with from our farmers, which is about $15bn, and do something reciprocal to our farmers so our farmers can do well.”

It's called smart economics.
Praise the Lord.

[jimjam]

It's called smart economics.
Praise the Lord.

HOLLY SHIT! did he really say that? It's SMART to spend $15,000,000,000 that you don't have?? I sure as hell would not want to see dumb economics. Isn't it amazing that in this Trump in Wonderland time that people like this call themselves "conservatives".

Oh, wait!! Hillary is worse and the Democrats did it .

[Hindsite]

HOLLY SHIT! did he really say that? It's SMART to spend $15,000,000,000 that you don't have?? I sure as hell would not want to see dumb economics. Isn't it amazing that in this Trump in Wonderland time that people like this call themselves "conservatives".

Oh, wait!! Hillary is worse and the Democrats did it .

It is better than spending it on giving illegals all manner of free stuff (including healthcare) like the Democrats are running on. Besides, there is a chance to get a good trade agreement with China. I forgot you guys call the "illegals" undocumented. Sorry about that.

[jimjam]

It is better than spending it on giving illegals all manner of free stuff (including healthcare) like the Democrats are running on. Besides, there is a chance to get a good trade agreement with China. I forgot you guys call the "illegals" undocumented. Sorry about that.

Excellent point! It's also better than sending bags of shit to graduates of Trump University …..

also

For some reason, the raised tariffs make me wonder whether the president of the United States be guilty of insider trading...

[Hindsite]

Excellent point! It's also better than sending bags of shit to graduates of Trump University …..

also

For some reason, the raised tariffs make me wonder whether the president of the United States be guilty of insider trading...

That is called crazy thinking.

[Potemkin]

HOLLY SHIT! did he really say that? It's SMART to spend $15,000,000,000 that you don't have?? I sure as hell would not want to see dumb economics. Isn't it amazing that in this Trump in Wonderland time that people like this call themselves "conservatives".

Oh, wait!! Hillary is worse and the Democrats did it .

Words such as "conservative" or "liberal" long ago lost their meaning, jimjam. Nowadays, "conservatives" spend money like drunken sailors on shore leave, and just borrow it from their unborn grandkids rather than raise taxes here and now. And "liberals" have become the most intolerant illiberal Puritans since Oliver Cromwell.

I tell you, we live in strange times jimjam....