Trump's Dumb Economics - Page 26 - Politics Forum.org | PoFo

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By jimjam
#14953158
blackjack21 wrote:You and Stormsmith should go and swim the backstroke in the Yangtze River in the environmental paradise of our "ally," China.



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I would love to but I prefer to do my swimming here ^ where America is being made "great" again Trump style.

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China "ally"? No way. Russia's oligarchs' love to swim with Donald in his money bin in the Trump Tower basement ^ and as long as Donald continues to wash their cash …. Russia is the best ally that money can buy.
User avatar
By Godstud
#14953174
Why this market sell-off isn't like the correction at the beginning of the year
Wednesday's aggressive market sell-off rekindled memories of similar blowouts in the past, most recently in the first few months of 2018.
The concentration of losses helped separate the 832-point Dow drop from the broad-based selling of the previous correction.
Tech, by far, took the worst of the beating, with the sector off 4.8 percent on the day. Its recently spun-off sibling, communication services, was next with a drop just short of 4 percent.

Market experts cited a slew of factors that are contributing to the downdrift: fear the Fed will raise interest rates aggressively, worry from tech companies that tariffs on Chinese imports will drive costs higher, and even the upcoming earnings season as expectations fall for corporate profits.

https://www.cnbc.com/2018/10/10/why-thi ... -year.html
User avatar
By jimjam
#14968632
Looks like a friendly little gathering :lol: . I wonder how the steak was. Trump has a bigger economy behind him but Xi is a helluva lot smarter. Judging by the look on Donald's face, he may just know it.


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President Trump and Chinese President Xi Jinping at a dinner meeting at the end of the Group of 20 summit meeting in Buenos Aires.
#14968711
jimjam wrote:Looks like a friendly little gathering :lol: . I wonder how the steak was. Trump has a bigger economy behind him but Xi is a helluva lot smarter. Judging by the look on Donald's face, he may just know it.


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President Trump and Chinese President Xi Jinping at a dinner meeting at the end of the Group of 20 summit meeting in Buenos Aires.


Actually, Trump is using a ‘dominate expression’ and Xi is showing ‘doubt’. Xi has already lost the battle of wills based upon this photo.

Their expressions are mimicked by everyone on their side of the table.
Last edited by One Degree on 02 Dec 2018 13:49, edited 1 time in total.
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By Godstud
#14968713
Trump looks like he's taking a dump in his Depends. I guess that's what you old guys take as a "dominant expression" these days. :lol: :lol: :lol:
#14968728
One Degree wrote:Actually, Trump is using a ‘dominate expression’ and Xi is showing ‘doubt’. Xi has already lost the battle of wills based upon this photo.

actually Donald is using his "Asshole Expression" which I suspect Xi can handle without too much difficulty.

Now this is a dominate expression:

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#14968730
jimjam wrote:actually Donald is using his "Asshole Expression" which I suspect Xi can handle without too much difficulty.

Now this is a dominate expression:

Image


Nope, that’s just anger or insanity.
Look at the other people, especially the guy in the forefront with downcast eyes. That’s submissive. Look at Trump’ side. Everyone with heads up confronting the other side with the confidence of direct eye contact.
By Rich
#14968755
Potemkin wrote:But the capitalist system requires growth, One Degree. After all, there must be a return on investment, or else there will be no investment. You cannot have a capitalist system with zero growth, because that would mean zero profits. If you want to have an economic system with zero population growth and zero economic growth, then you are wishing away the capitalist system.

First off "Capitalist System" is a Marxist lie. The heyday of Capitalism in Britain was 1066 to 1485 when the big owners of Capital really did hold the bulk of the political power. The 1832 reform act was the death-knell for Capitalism. After 1832 the vast majority of the electorate were not major Capital owners, ie adult males who owned over ten times the mean, capital ownership for adult males.

The market economy does not require real growth to function, although it probably requires nominal growth in money terms to avoid unnecessary production loss. Normally real income today commands a price premium over real income in the future, expressed in positive real interest rates, but there is nothing set in stone about this. Where population decline exceeds productivity growth then future real income should command a price premium over present real income.
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By jimjam
#14969367
The sugar high from Trump's big cash dump (tax "reform") for billionaires and corporations is starting to run down.

Typically when an economy is in good health, yields on longer-term Treasuries are higher than those on shorter term government bonds, reflecting investor expectations that economic growth, and some inflation, will continue in coming years. When investors become less sure of that the economy and prices will continue to rise, yields on longer term bonds rise slowly, or even fall.

That’s been the case lately. Despite solid domestic economic growth and unemployment near 50-year lows, the yield on the 10-year Treasury note tumbled to 2.94 percent on Tuesday, down from 3.25 percent in September.

And other markets have also been sending some signals about softness in the global economy. American benchmark crude oil prices have plummeted more than 25 percent since the end of September.

Then there is the wild card effect of the wack job in the White House and his trade war which does not project the atmosphere of stability and predictability that most financial markets, with the exception of the NYC real estate market, tend to prosper on. "I am a Tariff Man." D.Trump. :eh:
#14969638
As you know, I'm a well read layman. I've gone over to the MMT school of economics. I'm also a Progressive, meaning I'm for the mass of Americans.
It seem to me that capitalists think that Capitalism needs growth. They want their profits to grow exponentially. This can only happen if there is economic growth.
OTOH, in the past growth has been very slow. So slow we might call it zero. So, Capitalism can survive no growth. This happened in Europe from 1000 to 1500 because population was constrained by food production and the tech level changed very slowly.
They had a mostly Capitalist economy. I see Feudalism as a form of Capitalism, because there were clearly separated owners and workers.

The world is entering a new age.
The transition includes the period from when we get serious about AGW and when the population stabilizes after it falls to around 1 or 2 billion people.
After that the population will not be allowed to grow because people would rather that growth in GDP be experienced as an increase in living conditions rather than just supporting more people at the same old living level.
During this new age, therefore, GDP growth will be very slow. It will all come from increasing tech levels.
Fiat currencies and MMT economics will make this new age much easier to govern or control. The EU and E-Zone will be gone.
Gov. deficit spending by all the nations of the world in this age will allow the nominal GDP to increase every year. This will avoid the terrible effects that deflation would cause. The national debts may rise without limits or the money supply will increase slowly without a limit.
Two other problems that the world sees now will have been fixed.
1] Private debt will be controlled. That is, it is the rise in private debt levels that lead to the GFC/2008 and now will likely cause another crash pretty soon. [Note: here 'private' means non-Gov. debt.] This happens because the rich would rather lend newly created (by bank lending) dollars to their workers than pay them more out of their own pockets. This lending is necessary for the GDP to grow because consumer spending drives the economy and workers must borrow if they are not paid more. OTOH, a time always comes when the workers can't pay all their bills. When this happens banks stop lending, when banks stop lending, nobody can rollover their debts so all the banks become insolvent. And the crash happens, again. THEREFORE, it is necessary to control private debt.
. . The Founders of the US wrote into the Constitution the idea I elaborate below. That is, a bankruptcy system of laws is required by the US Constitution. This makes the lender suffer. I would argue that the current system of Student Loans is unconstitutional. Others would argue that it is terrible social policy because it keeps college graduates from starting their working life with the ability to begin to earn more and spend that more into the economy thus depressing GDP growth and keeps them from buying a house. It also adds to the private debt level which is the problem noted just above.
2] International trade will also need to be controlled. That is, almost ever nation each month must have a zero balance of trade deficit/surplus. This means that nations like the current Germany and China can't be allowed to exist. They can't keep having a trade surplus because this [by accounting definition] this means other nations must have a trade deficit. And, someday the debtor nations must pay-up, but they never will be able to. What can they pay with in a world of fiat currencies? This is the problem in the EU and E-Zone now. I suppose that an alternate solution is for everyone to understand that all loans are made at a risk. That the mistake that the loan was made is NOT that the borrower borrowed the money, the mistake was made by the lender. And, if the loan can't be paid back then the pain belongs to and should be felt by the lender not to/by the borrower. Currently, the powers that be KNOW that the fault was the borrower's and they should bear the pain.
Last edited by Steve_American on 06 Dec 2018 17:43, edited 1 time in total.
#14969648
Canada has arrested Huawei’s global chief financial officer in Vancouver, where she is facing extradition to the United States, Canada’s Department of Justice said on Wednesday.

The arrest is related to violations of U.S. sanctions, a person familiar with the matter said. Meng Wanzhou, who is one of the vice chairs on the Chinese technology company’s board and the daughter of company founder Ren Zhengfei, was arrested on Dec. 1 and a court hearing has been set for Friday, a Canadian Justice Department spokesman said.

China’s embassy in Canada said it resolutely opposed the arrest and called for Meng’s immediate release.

The arrest could drive a wedge between China and the United States just days after President Donald Trump and President Xi Jinping held a meeting in Argentina where they agreed to steps to resolve a brewing trade war.

U.S. Senator Ben Sasse praised the action and said that it was “for breaking U.S. sanctions against Iran.” He added: “Sometimes Chinese aggression is explicitly state-sponsored and sometimes it’s laundered through many of Beijing’s so-called ‘private’ sector entities.”
#14969650
The daughter of the founder of Chinese telecoms giant Huawei has been arrested in Canada and faces extradition to the United States.

Meng Wanzhou, Huawei's chief financial officer and deputy chair, was arrested in Vancouver on 1 December.

Details of the arrest have not been released but the US has been investigating Huawei over possible violation of sanctions against Iran.

China's embassy in Canada protested at the arrest and demanded her release.

Huawei said it had little information about the charges and was "not aware of any wrongdoing by Ms Meng".

The arrest comes at a sensitive time for US-China relations. The nations are engaged in a trade war that has seen both impose duties of billions of dollars on one another's goods.

The arrest will not help the 90-day tariff truce the nations agreed after President Donald Trump and his Chinese counterpart Xi Jinping met at the G20.

Canada's ministry of justice confirmed the date and place of Ms Meng's arrest and added: "She is sought for extradition by the United States, and a bail hearing has been set for Friday."

It said it could not say more as Ms Meng had sought a ban on the publication of details and this had been ordered by the courts.

A spokesman for the US justice department in the Eastern District of New York - which Huawei said had brought the charges - declined to comment.

US media have reported that Huawei is under investigation for potential violations of US sanctions Huawei is one of the largest telecommunications equipment and services providers in the world

One report in the New York Times said the US commerce and treasury departments had subpoenaed the firm over suspected violation of sanctions against both Iran and North Korea.


US lawmakers have repeatedly accused the company of being a threat to US national security, arguing that its technology could be used for spying by the Chinese government.

Reacting to the arrest, US Senator Ben Sasse told Associated Press that China was aggressively engaged in undermining US national security interests, often "using private sector entities".

"Americans are grateful that our Canadian partners have arrested the chief financial officer," he added.




@jimjam
RE I would love to but I prefer to do my swimming here ^ where America is being made "great" again Trump style. 

I'm not much on swimming, but a bottle of Havana Club on a Floridian beach........or Canuba beach sounds ideal. Far too unseasonably brrrrr up here. :)
#14969781
What passes for "leadership" in the land of dim wits wearing little red hats:

President Donald Trump was taken to task on Twitter after a report claimed he shrugged off surging U.S. national debt (circa $21,000,000,000,000) because it wouldn’t happen until after he leaves the White House.

“Yeah, but I won’t be here,” The Daily Beast on Wednesday reported Trump as telling senior officials in early 2017 who attempted to warn him of the impending debt crisis.

Many people on Twitter weren’t surprised that Trump, who has declared bankruptcy for his companies on multiple occasions, was paying little heed to the figures.

Some also suggested he had the same “philosophy on climate change.”
User avatar
By Godstud
#14969886
In case Trump's moronic cultists are not aware of it already, Trump cares for nobody but himself.
#14970034
Godstud wrote:In case Trump's moronic cultists are not aware of it already, Trump cares for nobody but himself.


Tell us more about your intimate relationship with Trump that allows so much insight to who he is. :)
I prefer walnuts to peanuts, so Carter is a horrible person. :)
User avatar
By Godstud
#14970045
You don't need to be a brain surgeon to see Trump's behavior and what he says.

You truly are a Trump cultist, despite what you say. You never fail to leap to his defense. :knife:
#14970046
Godstud wrote:You don't need to be a brain surgeon to see Trump's behavior and what he says.

You truly are a Trump cultist, despite what you say. You never fail to leap to his defense. :knife:


Since I am not aware of him being guilty of anything other than saying things the ‘politically correct’ find offensive, I have no reason not to defend him. The ridiculous idea that he is a terrible President and person because you don’t agree with him is nothing but childish adherence to propaganda from Democrats.
A reasoning adult would be concerned with his policies, not his personality. I find it difficult to accept there were many Presidents whose personal company I would enjoy.
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