Trump's Trade Wars - another disaster
POSTED BY: captaincrunch
UPDATED: Tuesday, July 7, 2020 08:51
VIEWED: 14929
PAGE 2 of 17
The Dow is only up because of the massive inflation that has occurred in the last decade because of quantitative easing. We're in the second longest period of "growth" of GDP in America. If it were to "grow" until the 2020 election, it would be the longest period of "growth" the US has ever seen.
One of the bubbles will burst eventually. When it does, the FED can't lower the rates to below Zero to combat it this time.
I wonder what Stagflation is going to be like.
The only thing I really find funny is people here who put all of this blame on Trump. From what I can see, the only thing Trump is guilty of here is keeping up with the status quo instead of making good on any of his pre-election promises regarding the economy. As soon as he got in all of the sudden the Unemployment numbers were great and the Dow is doing better than ever. He hasn't done a thing to shrink big government. Regarding the economy specifically, we might as well still have Obama in or have voted in a Clinton. The picture wouldn't look any different than it does today.
Do Right, Be Right. :)
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Quote:You should try reading some news sometime, instead of 3-month old outdated gibberish, which every reasonable person knew it was when it was propagated.
Originally posted by reaverfan:Quote:Seems he's stealing a page from Bush. How did that turn out?
Originally posted by JEWELSTAITEFAN:
And for a 2nd day in a row, Trolls double down on stupid while the Stock Market climbs. Even with SIG's helping to explain, their FACTS Vaccine protects them from letting knowledge and information infiltrate.
Budget office projects growing deficits and massive debt during Trump administration
http://www.latimes.com/politics/la-na-pol-trump-deficits-20180409-stor
y.html
The CBO also confirmed earlier estimates that despite Republican promises that the tax cuts would pay for themselves through economic growth, the plan would actually increase the deficit about $1.9 trillion over 11 years.
Democrats said the report rebuked Republicans' claims to be fiscal conservatives.
"In their craven haste to give corporations and the wealthiest 1% massive tax breaks, Republicans saddled our children and grandchildren with trillions of dollars of debt," House Minority Leader Nancy Pelosi (D-San Francisco) said in a statement.
More of the same from the tinkle-down crew.
A few weeks later, the CBO announced that they were off by $2.95 Trillion, and the Trump Tax Reform would actually reduce the debt by $1.45 Trillion, after several years of first paying back the $1.5 Trillion.
Try keeping up with the adults, m'kay?
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Quote:Unlike you, I read news. You read what your Russian bosses tell you to parrot. You say the same things all the other trolls say, all over the internet.
Originally posted by JEWELSTAITEFAN:
You should try reading some news sometime, instead of 3-month old outdated gibberish, which every reasonable person knew it was when it was propagated.
A few weeks later, the CBO announced that they were off by $2.95 Trillion, and the Trump Tax Reform would actually reduce the debt by $1.45 Trillion, after several years of first paying back the $1.5 Trillion.
Try keeping up with the adults, m'kay?
Here's a novel idea. Why don't you post the source of what you said? That would be refreshing.
Here's mine. https://www.cbo.gov/publication/53727
Prove it wrong, Ruskie.
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Quote:
Originally posted by JEWELSTAITEFAN:
A few weeks later, the CBO announced that they were off by $2.95 Trillion, and the Trump Tax Reform would actually reduce the debt by $1.45 Trillion, after several years of first paying back the $1.5 Trillion.
Huh? "the CBO announced that they were off by $2.95 Trillion" that's almost 3 times the TOTAL projected deficit for 2020, JSF. I too am anxious to see your links for that one. (f*cksake).
"The U.S. budget deficit will surpass $1 trillion by 2020, two years sooner than previously estimated, as tax cuts and spending increases signed by President Donald Trump do little to boost long-term economic growth, according to the Congressional Budget Office.
Spending will exceed revenue by $804 billion in the fiscal year through September, jumping from a projected $563 billion shortfall forecast in June, the non-partisan arm of Congress said in a report Monday. In fiscal 2019, the deficit will reach $981 billion, compared with an earlier projection of $689 billion.
The nation’s budget gap was only set to surpass the trillion-dollar level in fiscal 2022 under CBO’s report last June."
https://mises.org/power-market/cbo-projection-us-deficit-tops-1-trilli
on-two-years-ahead-schedule
Stop huffin' your mom's hair spray, m'kay?
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I don't think that cutting taxes in THIS situation will reduce the deficit. The taxes have to be SO high that they are strangling economic growth, and in THIS case what's strangling economic growth is not taxes it's "free trade", internal corruption and wealth inequality. So, I do NOT agree with Trump's tax cut, unless there's something about "repatriation of capital" that I don't understand. When I have more time I'll research it.
Also, the stock market is NOT the economy! The stock market is up because THE FED has held interest rates at near-zero for almost ten years now, and large businesses which issue stock have been busy borrowing money at near-zero interest rates to engage in "stock buybacks" which reduce the number of outstanding shares, artificially increasing the price per share (PE ratio).
A stock market crash CAN bonk the economy (It has done so in the past) due to capital flow (money velocity) grinding to a halt. But the REAL economy consists of production of goods and provision of services; not stock, real estate, or commodity prices or derivatives and hedge funds.
So I wouldn't be crowing about stock prices, if I were a Trump supporter, because (1) it's irrelevant to the real economy and (2) it's not under control of the WH, but under control of The Fed. A rise in interest rates will crash a lot of debt-based speculation, including hedge funds, stocks, and real estate.
-----------
Pity would be no more,
If we did not MAKE men poor - William Blake
"The messy American environment, where most people don't agree, is perfect for people like me. I CAN DO AS I PLEASE." - SECOND
America is an oligarchy http://www.fireflyfans.net/mthread.aspx?tid=57876
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Quote:
Originally posted by SIGNYM:
I don't think that cutting taxes in THIS situation will reduce the deficit. The taxes have to be SO high that they are strangling economic growth, and in THIS case what's strangling economic growth is not taxes it's "free trade", internal corruption and wealth inequality. So, I do NOT agree with Trump's tax cut, unless there's something about "repatriation of capital" that I don't understand. When I have more time I'll research it.
Also, the stock market is NOT the economy! The stock market is up because THE FED has held interest rates at near-zero for almost ten years now, and large businesses which issue stock have been busy borrowing money at near-zero interest rates to engage in "stock buybacks" which reduce the number of outstanding shares, artificially increasing the price per share (PE ratio).
A stock market crash CAN bonk the economy (It has done so in the past) due to capital flow (money velocity) grinding to a halt. But the REAL economy consists of production of goods and provision of services; not stock, real estate, or commodity prices or derivatives and hedge funds.
So I wouldn't be crowing about stock prices, if I were a Trump supporter, because (1) it's irrelevant to the real economy and (2) it's not under control of the WH, but under control of The Fed. A rise in interest rates will crash a lot of debt-based speculation, including hedge funds, stocks, and real estate.
-----------
Pity would be no more,
If we did not MAKE men poor - William Blake
"The messy American environment, where most people don't agree, is perfect for people like me. I CAN DO AS I PLEASE." - SECOND
America is an oligarchy http://www.fireflyfans.net/mthread.aspx?tid=57876
This.
Do Right, Be Right. :)
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Quote:You can argue with CBO about that. Lettuce know how well that works for ya.
Originally posted by SIGNYM:
I don't think that cutting taxes in THIS situation will reduce the deficit.
To be technically accurate, I don't believe any reasonable projection has indicated the Obamanomics bloat will be halted soon enough to actually reduce the Debt in that timeframe, but the CBO was comparing the projections from before the Tax Reform, and then comparing again a few weeks later.
Quote:Why don't you like Repatriation of Capital?
So, I do NOT agree with Trump's tax cut, unless there's something about "repatriation of capital" that I don't understand. When I have more time I'll research it.
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GDP is at 4.1%...shut up
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Quote:
Originally posted by whozit:
GDP is at 4.1%...shut up
T
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Quote:JSF, you posted ...
I don't think that cutting taxes in THIS situation will reduce the deficit. - SIGNY
You can argue with CBO about that. Lettuce know how well that works for ya. - JSF
Quote:I went to the CBO website and there was NOTHING there like this. So if you have information that none of us have ... LINKS, PLEASE?
You should try reading some news sometime, instead of 3-month old outdated gibberish, which every reasonable person knew it was when it was propagated.
A few weeks later, the CBO announced that they were off by $2.95 Trillion, and the Trump Tax Reform would actually reduce the debt by $1.45 Trillion, after several years of first paying back the $1.5 Trillion.
Quote:As I requested: LINKS, PLEASE?
To be technically accurate, I don't believe any reasonable projection has indicated the Obamanomics bloat will be halted soon enough to actually reduce the Debt in that timeframe, but the CBO was comparing the projections from before the Tax Reform, and then comparing again a few weeks later.
Quote:It's not that I don't like it, it's that I don't know exactly what it is or how its supposed to work. Here are two threads of thought that I have on the topic ....
So, I do NOT agree with Trump's tax cut, unless there's something about "repatriation of capital" that I don't understand. When I have more time I'll research it.- SIGNY
Why don't you like Repatriation of Capital?- JSF
1) It's possible to reduce imports into the USA by charging tariffs, and if the tariffs are high enough you can essentially block certain imports. BUT, just because there is a deficit of (say) automobiles in the USA and (because of reduced supply and steady demand) the price goes up from $25,000 to $50,000, altho that represents an investment opportunity, that doesn't necessarily mean that any company will actually step in and invest. Perhaps the total investment is too high, or interest rates are too high, so altho the "environment" might be good, actual investment might not happen.
2) At the same time, if taxes allow profit to remain in the USA, PERHAPS that money would be used for investment.
So possibly between a "push" (availability of money) and a "pull" (demand for product) the right investment would happen to re-industrialize America, but it seems a bit indirect/ uncertain.
-----------
Pity would be no more,
If we did not MAKE men poor - William Blake
"The messy American environment, where most people don't agree, is perfect for people like me. I CAN DO AS I PLEASE." - SECOND
America is an oligarchy http://www.fireflyfans.net/mthread.aspx?tid=57876
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