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#15107323
jimjam

I wonder if the fear of covid and a labour shortage we haven't seen since the mid nineteen-nighty's and a proper health-care plan might drive wages upwards.
#15107359
jimjam wrote:who are making [email protected] if they are lucky and in debt up to their ass :lol:


In debt from what exactly? Also if they are working on a construction project and not just hauling sand bags, they are making on average 20 per hour and if they are skilled (carpenters, electricians and Plumbers) they are making close to 40 per hour.
User avatar
By jimjam
#15107512
Oxymoron wrote:In debt from what exactly? Also if they are working on a construction project and not just hauling sand bags, they are making on average 20 per hour and if they are skilled (carpenters, electricians and Plumbers) they are making close to 40 per hour.


UM..... I was referring to the millions of people who are going to purchase all these houses. They are not unemployed which is great but they are paid shit with no benefits and are in debt for what? To feed their families.
User avatar
By XogGyux
#15107515
jimjam wrote:UM..... I was referring to the millions of people who are going to purchase all these houses. They are not unemployed which is great but they are paid shit with no benefits and are in debt for what? To feed their families.

But the stock markets!
Everyone's 401k should be shooting up.

Nevermind that it is completely detached from reality.
User avatar
By Godstud
#15107534
The stock markets suck. They haven't been good for 2 years.
User avatar
By jimjam
#15107576
Godstud wrote:The stock markets suck. They haven't been good for 2 years.

"good as gold"...………….. gold has gone up at over an annual rate of 50% over the past 30 days and an annual rate of 28% over the past year. Gold price is influenced by a number of factors...…. two big ones recently are increased inflation caused by Don The Cons $8,000,000,000,000 deficit spending over the past 3+ years and …. simple fear.
User avatar
By jimjam
#15112824
Now that the Great Depression of 2020 has begun Obese Donald is coming up with a collection of quack economic ideas presented to him by his cadre of adoring quack economists in an effort to con his "base" one more time. A really substantive measure would direct employers to stop collecting payroll taxes on behalf of their workers.

Even if the money went to workers, which it almost certainly wouldn’t, it would go to precisely the wrong ones — workers who haven’t lost their jobs in the pandemic, not those who have. Now, lots of bad economic ideas — like giant tax cuts for the rich — nonetheless have strong political support. But a payroll tax cut isn’t one of them. In fact, Senate Republicans have been dismissive, dropping the idea from their proposals.

Donald isn’t actually cutting the payroll tax, which would require legislation. Instead, he’s just deferring its collection; workers will still owe the money a few months later. And knowing this, many if not most employers won’t increase paychecks, they’ll just put the money in escrow on workers’ behalf. As far as most workers are concerned, this whole thing may be a nonevent.

We’re facing a moment of crisis. Unless very quick action is taken, consumer spending is about to collapse, bringing the whole economy down with it. This would be a really good time for presidential leadership. But what we have instead is a pitchman hawking miracle cures at his country club. Recent interviews and inside reporting make it clear that Donald really is completely out of his depth, with no understanding of either the epidemiological or the economic reality we face.

At a moment of crisis America is cursed with a president who is incompetent, deeply ignorant, yet so personally insecure that he surrounds himself with people who tell him he’s a universal genius.
#15113081
At a moment of crisis America is cursed with a president who is incompetent, deeply ignorant, yet so personally insecure that he surrounds himself with people who tell him he’s a universal genius.

Nations get the leaders they deserve, @jimjam. Donald Trump, or someone indistinguishable from him, in the White House has been coming for a long time now, and you know it. :|
#15113141
Stocks rebound on Wall Street, S&P 500 trades above record
WED, AUG 12 2020

Stocks marched broadly higher on Wall Street Wednesday, briefly nudging the S&P 500 above its all-time closing high set in February, before the coronavirus pandemic led to a historic market plunge.

The benchmark index notched a 1.4% gain, its eighth in nine days. It ended within 0.2% of its record high from Feb. 19, before the coronavirus prompted the sudden shutdown of much of the economy.

Big technology stocks led the way higher once again. Health care and communication services stocks also had a strong showing. The rally followed gains for stocks across Europe and much of Asia, while Treasury yields continued their sharp increase after a report on inflation came in higher than expected for the second straight day.

The S&P 500 rose 46.66 points to 3,380.35. The Dow Jones Industrial Average gained 289.93 points, or 1%, to 27,976.84. The Nasdaq composite, which is heavily weighted with technology stocks, climbed 229.42 points, or 2.1%, to 11,012.24. The Russell 2000 index of small company stocks picked up 8.15 points, or 0.5%, to 1,583.25.

The U.S. stock market is on the edge of erasing the last of the losses taken after the coronavirus pandemic crushed the economy into recession, even though the economy is still hobbling despite some recent improvements. In March, the S&P 500 had been down nearly 34% from its record.

Much of the rebound has been due to massive amounts of support from the Federal Reserve, which has slashed interest rates to nearly zero and propped up far-ranging corners of the bond market to keep the economy’s head above water. The ultra-low interest rates mean investors are getting paid very little to own bonds, which pushes some into stocks, boosting their prices.

“Economic data is coming in much better than expected; the earnings season is much better than expected,” said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors. “You couple all of those things with the massive amounts of fiscal and monetary stimulus taking place. That’s why we’ve seen the (market) rally so quickly off its low and at the magnitude that we’ve seen.”

Wall Street’s gains on Wednesday were widespread, with two-thirds of the stocks in the S&P 500 higher.

The yield on the 10-year Treasury rose to 0.67% from 0.66% late Tuesday. It's jumped sharply since sitting at 0.57% late Monday.

https://www.chron.com/news/article/Shar ... 477294.php
#15113321
Hindsite wrote:Stocks rebound on Wall Street, S&P 500 trades above record
WED, AUG 12 2020

Stocks marched broadly higher on Wall Street Wednesday, briefly nudging the S&P 500 above its all-time closing high set in February, before the coronavirus pandemic led to a historic market plunge.

The benchmark index notched a 1.4% gain, its eighth in nine days. It ended within 0.2% of its record high from Feb. 19, before the coronavirus prompted the sudden shutdown of much of the economy.

Big technology stocks led the way higher once again. Health care and communication services stocks also had a strong showing. The rally followed gains for stocks across Europe and much of Asia, while Treasury yields continued their sharp increase after a report on inflation came in higher than expected for the second straight day.

The S&P 500 rose 46.66 points to 3,380.35. The Dow Jones Industrial Average gained 289.93 points, or 1%, to 27,976.84. The Nasdaq composite, which is heavily weighted with technology stocks, climbed 229.42 points, or 2.1%, to 11,012.24. The Russell 2000 index of small company stocks picked up 8.15 points, or 0.5%, to 1,583.25.

The U.S. stock market is on the edge of erasing the last of the losses taken after the coronavirus pandemic crushed the economy into recession, even though the economy is still hobbling despite some recent improvements. In March, the S&P 500 had been down nearly 34% from its record.

Much of the rebound has been due to massive amounts of support from the Federal Reserve, which has slashed interest rates to nearly zero and propped up far-ranging corners of the bond market to keep the economy’s head above water. The ultra-low interest rates mean investors are getting paid very little to own bonds, which pushes some into stocks, boosting their prices.

“Economic data is coming in much better than expected; the earnings season is much better than expected,” said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors. “You couple all of those things with the massive amounts of fiscal and monetary stimulus taking place. That’s why we’ve seen the (market) rally so quickly off its low and at the magnitude that we’ve seen.”

Wall Street’s gains on Wednesday were widespread, with two-thirds of the stocks in the S&P 500 higher.

The yield on the 10-year Treasury rose to 0.67% from 0.66% late Tuesday. It's jumped sharply since sitting at 0.57% late Monday.

https://www.chron.com/news/article/Shar ... 477294.php

The richest 1 per cent of Americans now account for more than half the value of equities owned by U.S. households, according to Goldman Sachs.

As of September 2019, the bottom 90 per cent owned 12 per cent of this total, analysts noted.

Image
"Wake up Bro! Wake up ……. the Russel 2000 is up 8.15%. :eek: "
User avatar
By Godstud
#15113322
Repeat After Me: The Markets Are Not the Economy
The two have been intertwined in the American psyche since the 1929 stock crash and the onset of the Great Depression. But stocks are not a reliable gauge of overall economic health.

The stock market looks increasingly divorced from economic reality.

The United States is on the brink of the worst economic collapse since the Hoover administration. Corporate profits have crumpled. More than a million Americans have contracted the coronavirus, and hundreds are dying each day. There is no turnaround in sight.

Yet stocks keep climbing. Even as 20.5 million people lost their jobs in April, the S&P 500 stock index logged its best month in 33 years. After a few weeks of wild swings, the market is down a mere 9.3 percent this year and 13.5 percent from its peak — what most investors would consider a correction. On Friday, after the government released the staggering unemployment figures, the S&P 500 closed up 1.7 percent.

Conventional wisdom would explain the market’s comparatively modest losses this way: Since markets tend to be forward-looking, investors have already accounted for what’s expected to be a cataclysmic drop in second-quarter activity and are forecasting a relatively rapid economic recovery afterward. The Federal Reserve’s actions have also bolstered investors’ confidence that the bottom won’t fall out of the market.

But the pandemic has also highlighted a deeper trend. For decades, the market has been growing increasingly detached from the mainstream of American life, mirroring broad changes in the economy.


https://www.nytimes.com/2020/05/10/busi ... virus.html
#15114667
With an upside down tax policy, where corporations and the wealthy (via corporations) accumulate the vast amount of money pumped into the economy over the last 20 years, inflation is muted because those ultrawealthy cannot spend enough to drive inflation. Meanwhile, the national debt sky rockets, the price of real estate sky rockets, people continue to buy cyclically obsolete technology (cell phones and computers) channeling money to corporations and the wealthy.
Wages stagnate, household wealth continues to fall, and with no money to spend, prices on food and energy stay low. The country is poorer because we all hold the debt as a people and wealth has been transferred ever upward. Our infrastructure and safety net continues to crumble. As many have pointed out, under the guise of capitalism, Republicans love to socialize corporate bailouts and supports (tax policy), even as they despise socialized programs and engage in massively regressive tax policy toward the general populace.
If the piper has to be paid, I think we must claw back the wealth that has been unfairly accumulated through policies that have essentially created massive national debt and ever transferred money to the wealthiest. I don't see that happening.
#15114921
jimjam wrote:With an upside down tax policy, where corporations and the wealthy (via corporations) accumulate the vast amount of money pumped into the economy over the last 20 years, inflation is muted because those ultrawealthy cannot spend enough to drive inflation. Meanwhile, the national debt sky rockets, the price of real estate sky rockets, people continue to buy cyclically obsolete technology (cell phones and computers) channeling money to corporations and the wealthy.
Wages stagnate, household wealth continues to fall, and with no money to spend, prices on food and energy stay low. The country is poorer because we all hold the debt as a people and wealth has been transferred ever upward. Our infrastructure and safety net continues to crumble. As many have pointed out, under the guise of capitalism, Republicans love to socialize corporate bailouts and supports (tax policy), even as they despise socialized programs and engage in massively regressive tax policy toward the general populace.
If the piper has to be paid, I think we must claw back the wealth that has been unfairly accumulated through policies that have essentially created massive national debt and ever transferred money to the wealthiest. I don't see that happening.

This has been 40 years in the making, @jimjam. The endgame is to turn the USA into Brazil with nukes. So far, it seems to be working. The American people have even got to the stage of voting for a morally questionable populist caudillo, just like they do south of the border.... Lol.
User avatar
By Chad
#15115532
By Potemkin: This has been 40 years in the making, @jimjam. The endgame is to turn the USA into Brazil with nukes. So far, it seems to be working. The American people have even got to the stage of voting for a morally questionable populist caudillo, just like they do south of the border.... Lol.

Democrats and Obama era open Borders did not help America's Middle Class. Classrooms filled with unvaccinated illegals increased school taxes as the illegals got a free ride and legal Americans wages dropped as they watched their income quotients fall like a rock as oil and gas prices shot up like a rocket. Illegal Mandates and tax penalties that were unconstitutional but yet approved by America's first and only Black President almost created a civil war. ( that has been desired by the Communist Leftist Democrats for many years.) President Trump is correct with all of his Political instincts and America is Blessed that he defeated Crooked Hillary and the Deep State. Obama Gate will be exposed and the guilty Democrats will be exposed. America's economy will soar during President Trump's second term. If N. Korea gets a new leader...Lil Sister may want Peace and America will oblige. Great things are happening with President Trump. Communism will be destroyed in all of America's political arenas as President Trump's adversaries keep exposing themselves to law abiding taxpaying legal American citizens. Democrats just cannot believe that America's Patriots do not want to be controlled by the leftist Government. No Patriot will ever want to be controlled by Communism. America will never get turned into a third world country like Brazil.
User avatar
By Chad
#15115759
By jimjam : Chad wrote:
Great things are happening with President Trump

By Potemkin: This has been 40 years in the making, @jimjam. The endgame is to turn the USA into Brazil with nukes. So far, it seems to be working. The American people have even got to the stage of voting for a morally questionable populist caudillo, just like they do south of the border.... Lol.

Biden and all the BLM Supporting, Antifa Loving, Police Defunding, Leftist, Communist Democrats are bad for all of America's taxpaying legal citizens. Pictures of being without a home and still able to get cigarettes and alcohol really exposes more than one bad decision by the Democrat run cities and States. The homeless population that hangs around for some of the free (taxpayer funded Democrat Policies) continues to grow in Democrat run cities and States. Time to purge all of America's political arenas of the Disgusting Democrats that support Communism over Capitalism.
User avatar
By Godstud
#15115842
@Chad You wouldn't know what Communism was if it came up and bit you on the ass. USA is in absolutely no more danger of being Communist as it is of having the national anthem replaced with a Justin Beiber song. :knife:

Fear-mongering and stupidity is what you demonstrate. Your anti-Communist silliness is about 50 years too late.

It's very hard to read your posts as they are barely legible. You do know how to make paragraphs, right? It might allow people to read your posts far more easily.

Note: If English is not your first language, don't ignore what I said, but learn from it.
#15115850
The wealth gap in the U.S. continues to widen, with the top 1% of Americans close to amassing more wealth than the entire middle class, according to the latest data from the Federal Reserve, Bloomberg reports. Part of that growing divide is fueled by President Donald Trump’s tax cuts and his relentless drive for lower interest rates.
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