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-   -   The Dumpsterfire Economy (http://www.politicalchat.org/showthread.php?t=12212)

whell 02-06-2018 12:56 PM
Quote:
Originally Posted by finnbow (Post 367225)
These statistics reveal exactly why the tax cuts financed by an additional $1.5 trillion is deficit spending was exactly the wrong thing to do at the time.
Baloney and John Maynard Keynes claptrap.

whell 02-06-2018 01:02 PM
Quote:
Originally Posted by Chicks (Post 367226)

‘The president clearly set himself up’: Trump’s stock market miscalculation

https://www.politico.com/story/2018/...et-down-324880

...it was still a large and shocking decline. It arrived amid growing concern that an economy juiced by a massive corporate tax cut, and already at full employment, could overheat and require forceful action from a new and untested Federal Reserve chairman — installed by Trump — to cool things down.

On top of concerns about rising inflation, the tax cuts are already increasing the federal government’s need to borrow and accelerating the date by which Congress must raise the federal debt limit. And as of Monday, there was still no plan in Washington to raise the limit and avoid a catastrophic default.
Wait. A month ago, you folks were bragging that the good economic numbers were fully attributable to Obama. Now you're saying that yesterday's decline is all Trump's fault?

So, I guess today's move upward from yesterday's close is back to being Obama's? :rolleyes:

whell 02-06-2018 01:06 PM
Quote:
Originally Posted by Rajoo (Post 367248)
Neither, I am a print journalism supporter. Started working in the printing industry part time while in undergraduate school so am partial. :)

Now for some great news,

This is probably because of a profit agreement UAW made with GM for the wage concessions they made. Either way good for the workers.

Now the Dotard will claim all of the credit. Yes part of the profits are from the tac cuts but the main reason for UAW to be in this position is because of Obama's bailout of GM from which the US government made a tidy profit. But I am sure these details will be forgotten.

This is from whell's home town paper, hope i beat him to it. :D

https://www.freep.com/story/money/ca...8-b/309855002/
Just another anecdote if you ask Finn. :rolleyes:

Yes, the profit sharing bonuses have been around a while - I think they go back to the mid - late '80's. The average payment is about $2100 or so, so profit sharing checks over $10,000 are relative whoppers.

nailer 02-06-2018 01:10 PM
Quote:
Originally Posted by whell (Post 367257)
Wait. A month ago, you folks were bragging that the good economic numbers were fully attributable to Obama. Now you're saying that yesterday's decline is all Trump's fault?

So, I guess today's move upward from yesterday's close is back to being Obama's? :rolleyes:
If Trump's going to take credit for the gains he deserves blame for the losses.

Rajoo 02-06-2018 01:21 PM
Trump said he’d shrink the trade deficit with China. It just hit a record high.

Quote:
Release of the new trade figures came one week after the president boasted in his State of the Union address that the United States had “finally turned the page on decades of unfair trade deals that sacrificed our prosperity and shipped away our companies, our jobs, and our nation’s wealth.”
FAKE NEWS, BENGHAZI, TRUMP HATERS, FAILING NEWS, OBAMA, NANCY & CHUCK, WITCH HUNT, COMEY, MC_CABE, MUELLER, HILLARY, ...............am I getting warm yet? :D

This is to hide the bad news, shout it down. :)

https://www.washingtonpost.com/news/...=.5f01125d2cd0

Chicks 02-06-2018 03:58 PM
Quote:
Originally Posted by whell (Post 367257)
Wait. A month ago, you folks were bragging that the good economic numbers were fully attributable to Obama. Now you're saying that yesterday's decline is all Trump's fault?

So, I guess today's move upward from yesterday's close is back to being Obama's? :rolleyes:
Guess you forgot about that little tax “reform” bill that was passed last month, then... You’re such a moron.

whell 02-06-2018 06:18 PM
Quote:
Originally Posted by nailer (Post 367259)
If Trump's going to take credit for the gains he deserves blame for the losses.
I suspect he'd be OK with that since the Dow was up over 500 Pts today, and is still way up from where it was a year ago.

On the other hand, I recall some folks around here blaming Bush for the sad state of the economy for years after Barry took office. :rolleyes:

whell 02-06-2018 06:19 PM
Quote:
Originally Posted by Chicks (Post 367272)
Guess you forgot about that little tax “reform” bill that was passed last month, then... You’re such a moron.
Nah, I didn't forget. My paycheck will start getting bigger this month. :p

Chicks 02-06-2018 06:28 PM
Quote:
Originally Posted by whell (Post 367286)
Nah, I didn't forget. My paycheck will start getting bigger this month. :p
Don’t spend the $1.50 all in one place.

whell 02-07-2018 07:32 AM
Quote:
Originally Posted by Rajoo (Post 367262)
Trump said he’d shrink the trade deficit with China. It just hit a record high.

FAKE NEWS, BENGHAZI, TRUMP HATERS, FAILING NEWS, OBAMA, NANCY & CHUCK, WITCH HUNT, COMEY, MC_CABE, MUELLER, HILLARY, ...............am I getting warm yet? :D

This is to hide the bad news, shout it down. :)

https://www.washingtonpost.com/news/...=.5f01125d2cd0
The bitchers are gonna bitch. Would you prefer Obama's and geithner's claim that high unemployment and low wage growth as the "new normal"?


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