Trump's Dumb Economics - Page 73 - Politics Forum.org | PoFo

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#15032580
jimjam wrote:With each passing week it becomes ever clearer that Donald Trump’s trade war, far from being “good, and easy to win,” is damaging large parts of the U.S. economy. Farmers are facing financial disaster; manufacturing, which Trump’s policies were supposed to revive, is contracting; consumer confidence is plunging, largely because the public (rightly) fears that tariffs will raise prices.

Farming isn't a large part of the US economy. It's true that many states are largely agricultural, but only about 2% of Americans are involved in farming or ranching. As you love to point out when it suits you, many of them are multimillionaires. Manufacturing has had the biggest two year growth spurt in recent memory. The global economy is slowing, so that has an impact on US manufacturers. Germany, by contrast, is heading into recession. Tariffs haven't resulted in higher prices except for steel and aluminium, precisely because they are only against China and businesses can move operations to other countries that do not have such tariffs.

jimjam wrote:Business leaders aren’t do-gooders, but they are realists. Most of them understand that climate change is happening, that it’s dangerous, and that we’ll eventually have to transition to a low-emissions economy. They want to spend now to secure their place in that future economy; they know that investments that worsen climate change are bound to be long-run losers. But they’ll hold off on investing in our energy future as long as conspiracy theorists who consider global warming a gigantic hoax — and/or vindictive politicians determined to erase Obama’s achievements — keep rewriting the rules.

So which is it? Are they genius visionaries ready to seize on a long-term market opportunity, or gullible half-wits taken in by disingenuous "climate deniers"?

jimjam wrote:Some kinds of business do thrive under Trumpism — namely, businesses that aren’t in it for the long run, operations whose strategy is to take the money and run.

I work in computer software, and times have been good. We're in it for the long run. I'm sure miners are too.

jimjam wrote:These are good times for mining companies that rush in to extract whatever they can, leaving a poisoned landscape behind

So you are saying nature is poisonous?

jimjam wrote:for real estate speculators sponsoring dubious ventures that take advantage of newly created tax loopholes

Such as?

jimjam wrote:for for-profit colleges that leave their students with worthless degrees and crippling debt

Name one for-profit college and one worthless degree they offer. For every for-profit college, there are probably 100 private ones offering worthless degrees and saddling students with debt.
User avatar
By jimjam
#15032658
“We have lost our way on debt and deficits and spending, the president has called himself the king of debt.”

Trump’s attitude toward debt, namely being comfortable with it, “I think is ultimately leading us into the wrong direction.”

Mark Sanford.
#15032666
blackjack21 wrote:Name one for-profit college and one worthless degree they offer


Trump University ………… A Masters Degree in Bankruptcy and Con Artistry :lol:

Image
#15032672
blackjack21 wrote:Farming isn't a large part of the US economy. It's true that many states are largely agricultural, but only about 2% of Americans are involved in farming or ranching. As you love to point out when it suits you, many of them are multimillionaires. Manufacturing has had the biggest two year growth spurt in recent memory. The global economy is slowing, so that has an impact on US manufacturers. Germany, by contrast, is heading into recession. Tariffs haven't resulted in higher prices except for steel and aluminium, precisely because they are only against China and businesses can move operations to other countries that do not have such tariffs.


Actually Food, Beverage and Feed is the number one US export.

https://money.cnn.com/2018/03/07/news/e ... index.html

Keep making up information to suit your biased narratives though, it's a really great look.
#15032754
Crantag wrote:Actually Food, Beverage and Feed is the number one US export.

It would probably all be cheaper for us, it they did not export so much.
#15032794
jimjam wrote:Trump University ………… A Masters Degree in Bankruptcy and Con Artistry :lol:

:roll: Trump University is not a degree granting institution. Name one regionally accredited college or university that issues bachelors degrees. Or was Trump University the only thing you had in mind?

Crantag wrote:Actually Food, Beverage and Feed is the number one US export.

https://money.cnn.com/2018/03/07/news/e ... index.html

Keep making up information to suit your biased narratives though, it's a really great look.

If that were true, that would more than justify Trump's tariffs on China. The US exports over $500B in capital goods and $500B industrial goods, easily dwarfing agricultural products. Taxonomy is somewhat arbitrary, and you are being deliberately selective.
User avatar
By jimjam
#15032799
blackjack21 wrote:Trump University is not a degree granting institution. Name one regionally accredited college or university that issues bachelors degrees. Or was Trump University the only thing you had in mind?


lighten up Jack …….

https://youtu.be/1xOxHyTP91c
#15033747
So how's Trump doing on the economy?

1. Budget deficit for 2018-2027 up nearly 50% vs. the Obama policy baseline, a.k.a. the January 2017 CBO forecast. We can thank Trump for around $4.3 trillion more national debt by 2027 ($34,000 per family) vs. continuation of Obama policies.

2. Job creation in Obama's last 31 months was 6.8 million, vs. 5.3 million for Trump's first 31, including the big BLS downward revision for 2018-2019.

3. Stock market up cumulatively 46% at this point in Obama's Presidency (best of the past 6 Presidents), versus 29% for Trump (tied for 3rd with Clinton). Recall that 2018 was actually a down year, and we've had only a 5% increase since the January 2018 peak, despite all the drama.

4. Goodness gracious, look at those uninsured, just reported by the Census Bureau. At the end of 2018, we had 27.5 million uninsured, vs. 25.6 million in 2017, up 1.9 million or 7%. CBO estimates we'll have 7 million more uninsured (35 million vs. 28 million) under Trump's policies vs. the Obama baseline by 2021.

5. Real GDP growth was a respectable 2.6% for Trump's first 10 quarters (arithmetic average)...the very same as Obama's last 10 quarters. Surprised? BEA has been busy revising Trump's 2018 and 2019 GDP growth results down about 0.5% per quarter on average.

6. Inflation is higher, trade deficit is higher, and real wage growth is lower in Trump's first two years vs. Obama's last two.

I just love all this winning!
#15033748
jimjam wrote:6. Inflation is higher, trade deficit is higher, and real wage growth is lower in Trump's first two years vs. Obama's last two.


Why are you comparing Obama's last two years with Trump's first two years.

A more fair comparison would be the first two years of both administrations...
#15033750
let’s talk about one indicator of Trump’s cluelessness: his remarks about federal debt.

In addition to demanding that the Fed cut interest rates below zero, Trump declared that “we should then start to refinance our debt,” because “the USA should always be paying the lowest rate.” Observers were left scratching their heads, wondering what he was talking about.

Actually, however, it’s fairly obvious. Trump thinks that federal debt is like a business loan, which you can pay down early to take advantage of lower interest rates. He’s clearly unaware that federal debt actually consists of bonds, which can’t be prepaid (which is one reason interest rates on federal debt are always lower than, say, rates on home mortgages). That is, he imagines that the government’s finances can be managed as if the U.S. were a casino or a golf course, and it never occurred to him to ask anyone at Treasury whether that’s how it works.

I could easily live with the fact that Obese Donald is a liar and life long crook if he were competent. He is well suited to be a N.Y.C. real estate con artist but POTUS? He is in way over his head and clearly unsuited for the job. In a word …. incompetant.
#15034336
jimjam wrote:let’s talk about one indicator of Trump’s cluelessness: his remarks about federal debt.

In addition to demanding that the Fed cut interest rates below zero, Trump declared that “we should then start to refinance our debt,” because “the USA should always be paying the lowest rate.” Observers were left scratching their heads, wondering what he was talking about.

Actually, however, it’s fairly obvious. Trump thinks that federal debt is like a business loan, which you can pay down early to take advantage of lower interest rates. He’s clearly unaware that federal debt actually consists of bonds, which can’t be prepaid (which is one reason interest rates on federal debt are always lower than, say, rates on home mortgages). That is, he imagines that the government’s finances can be managed as if the U.S. were a casino or a golf course, and it never occurred to him to ask anyone at Treasury whether that’s how it works.

I could easily live with the fact that Obese Donald is a liar and life long crook if he were competent. He is well suited to be a N.Y.C. real estate con artist but POTUS? He is in way over his head and clearly unsuited for the job. In a word …. incompetant.

I think you are the one that is clueless. :lol:
User avatar
By Godstud
#15034345
Trump is the epitome of clueless:

Iraqi refugee Nadia Murad to Trump: ISIS killed family. Trump responds: 'Where are they now?'
https://www.usatoday.com/story/news/pol ... 783546001/

There's a video there, if you want to make a usual sub-moronic claim that it's fake news.

You can tell he doesn't give a fucking shit.
#15034346
Godstud wrote:Trump is the epitome of clueless:

Iraqi refugee Nadia Murad to Trump: ISIS killed family. Trump responds: 'Where are they now?'
https://www.usatoday.com/story/news/pol ... 783546001/

There's a video there, if you want to make a usual sub-moronic claim that it's fake news.

You can tell he doesn't give a fucking shit.

That was a reasonable question. How was he going to know where they were without asking?
User avatar
By Godstud
#15034352
:eh: They were KILLED! She just told him that... :knife:
#15034354
Godstud wrote::eh: They were KILLED! She just told him that... :knife:

But she did not tell were they were buried until he asked where they were. :knife:
User avatar
By Godstud
#15034356
:roll: Oh, fuck off. You know that's a bullshit response. He didn't ask where they were buried, and that wasn't the intent. He simply wasn't paying attention and stuck his big fat fucking foot in his big fat fucking mouth.
#15034359
Godstud wrote::roll: Oh, fuck off. You know that's a bullshit response. He didn't ask where they were buried, and that wasn't the intent. He simply wasn't paying attention and stuck his big fat fucking foot in his big fat fucking mouth.

He was actually showing concern, which you obviously don't have. But I will take your advice and fuck off for now. :lol:
User avatar
By Godstud
#15034362
He wasn't showing concern. He wasn't paying attention.

You simply can't admit any wrong-doing on the part of Trump, even when he's a total asshole.
#15034365
Godstud wrote::roll: Oh, fuck off. You know that's a bullshit response. He didn't ask where they were buried, and that wasn't the intent. He simply wasn't paying attention and stuck his big fat fucking foot in his big fat fucking mouth.

You seem excruciatingly aggrieved by Trump's response.

Godstud wrote:You simply can't admit any wrong-doing on the part of Trump, even when he's a total asshole.

What did Trump do that was wrong? How would Hindsite admit wrong-doing for someone else? Can I admit that you are somehow disagreeable and by my admission make it so?
User avatar
By Godstud
#15034368
@blackjack21 I'm sorry, is compassion something you are incapable of understanding?
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