Trump's Dumb Economics - Page 92 - Politics Forum.org | PoFo

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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.
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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.
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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.
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By Godstud
#15107534
The stock markets suck. They haven't been good for 2 years.
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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.
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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.
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