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03-09-2018, 12:13 PM
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Senior Member
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Join Date: Mar 2017
Posts: 13,286
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Quote:
Originally Posted by Pio1980
Riding the post-2008 crash Obama recovery. Who knows what this clueless incompetent moron will do to fuck that up.
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Yes, one need only look at the S&P 500 chart since 2009. Hasn’t deviated much from a straight line up, no real difference since the start of the Dotard’s rule. His idiot tariffs have been tempered so far, thankfully, but there’s plenty of danger ahead, with this moron and his hand-picked advisors.
He’s trying to destroy Obama’s great legacy, which includes the economic recovery. It surely must hurt that Obama is rated as 8th greatest president, while Donny is dead last. Yugely embarrassing!
__________________
"In a time of deceit telling the truth is a revolutionary act." -
George Orwell
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03-09-2018, 12:15 PM
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Reformed Know-Nothing
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Join Date: Oct 2009
Location: MoCo, MD
Posts: 25,857
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Quote:
Originally Posted by whell
They sure do:
https://www.bloomberg.com/news/artic...ns-slow-to-2-6
The U.S. added 313,000 jobs in January beating the estimate of 205,000. Bloomberg’s Mike McKee reports.
The U.S. economy enjoyed the biggest hiring spree since mid-2016 in February as workers streamed in from the sidelines of the labor force, but inflation pressures remained muted amid signs the pay gains that spooked financial markets last month haven’t taken hold.
I know you guys keep praying for bad news, so this must really suck for you.
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There has never been any doubt about the tax cuts providing a short-term sugar high. The issue is whether $1.5 trillion tax cut was the right thing to do at (nearly) full employment and at this point in the business cycle due to inflation and long-term debt concerns.
I hesitate to again emphasize to a person so unversed in economics and statistics as you that one data point does not establish a trend. Meanwhile, interest rates continue to increase unabated while the loss of home mortgage tax breaks are likely to put a damper on the housing market.
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As long as the roots are not severed, all will be well in the garden.
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03-09-2018, 01:04 PM
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Senior Member
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Join Date: Aug 2010
Location: Metro Detroit
Posts: 13,016
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Quote:
Originally Posted by finnbow
There has never been any doubt about the tax cuts providing a short-term sugar high. The issue is whether $1.5 trillion tax cut was the right thing to do at (nearly) full employment and at this point in the business cycle due to inflation and long-term debt concerns.
I hesitate to again emphasize to a person so unversed in economics and statistics as you that one data point does not establish a trend. Meanwhile, interest rates continue to increase unabated while the loss of home mortgage tax breaks are likely to put a damper on the housing market.
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Yeah, I understand how a bit of good economic news can be really depressing for you.
What'll hit home sales harder than interest rate hikes is a lack of supply which is causing home prices to rise. You know, that whole "supply and demand" thing that impacts price and buying habits.
https://www.reuters.com/article/us-u...-idUSKCN1G51W1
Existing home sales, which account for about 90 percent of U.S. home sales, declined 4.8 percent on a year-on-year basis in January. That was the biggest year-on-year drop since August 2014. The weakness in home sales is largely a function of supply constraints rather than a lack of demand, which is being driven by a robust labor market.
The shortage of properties is concentrated at the lower end of the market. While the number of previously-owned homes on the market rose 4.1 percent to 1.52 million units in January, housing inventory was down 9.5 percent from a year ago.
That was also the lowest inventory for January on record. Supply has declined for 32 straight months on a year-on-year basis. At January’s sales pace, it would take 3.4 months to exhaust the current inventory, up from 3.2 months in December.
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03-09-2018, 02:05 PM
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Reformed Know-Nothing
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Join Date: Oct 2009
Location: MoCo, MD
Posts: 25,857
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Quote:
Originally Posted by whell
[I]Existing home sales, which account for about 90 percent of U.S. home sales, declined 4.8 percent on a year-on-year basis in January. That was the biggest year-on-year drop since August 2014. The weakness in home sales is largely a function of supply constraints rather than a lack of demand, which is being driven by a robust labor market.
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Reduced supply and higher interest rates seem like a double-whammy to me, yet more evidence that the huge tax cuts were ill-timed and will give with one hand and take with the other (through higher mortgage interest payments). On top of that, we have Trump's idiotic tariffs likely to increase the price of all sorts of consumer goods. You know as little about economics as your beloved Dotard.
__________________
As long as the roots are not severed, all will be well in the garden.
Last edited by finnbow; 03-09-2018 at 02:12 PM.
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03-09-2018, 02:30 PM
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Senior Member
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Join Date: Aug 2010
Location: Metro Detroit
Posts: 13,016
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Quote:
Originally Posted by finnbow
Reduced supply and higher interest rates seem like a double-whammy to me, yet more evidence that the huge tax cuts were ill-timed and will give with one hand and take with the other (through higher mortgage interest payments). On top of that, we have Trump's idiotic tariffs likely to increase the price of all sorts of consumer goods. You know as little about economics as your beloved Dotard.
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Right, because a tax reduction is never a good idea when you have ANY outliers at all. In this case, since the housing market has been building capacity for almost 3 years, we shoulda looked at that single outlier and cancelled the whole thing.
Tariffs? What tariffs? The tariff thing was sooooo anticlimactic when compared to the doom and gloom with which the MSM covered them.
If I had your alleged economic expertise, I'd be worried about being schooled by a 5th grader.
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03-10-2018, 11:45 AM
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Rational Anarchist
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Join Date: Jul 2014
Location: DFW
Posts: 7,315
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Quote:
Originally Posted by Chicks
Yes, one need only look at the S&P 500 chart since 2009. Hasn’t deviated much from a straight line up, no real difference since the start of the Dotard’s rule. His idiot tariffs have been tempered so far, thankfully, but there’s plenty of danger ahead, with this moron and his hand-picked advisors.
He’s trying to destroy Obama’s great legacy, which includes the economic recovery. It surely must hurt that Obama is rated as 8th greatest president, while Donny is dead last. Yugely embarrassing!
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The market is a bubble just waiting for another wealth popping trigger event. The Obama recovery merely reinflated this ever expanding bubble.
__________________
"We have met the enemy and he is us."
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03-10-2018, 11:47 AM
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Senior Member
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Join Date: Mar 2014
Location: NE Bamastan
Posts: 11,049
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Quote:
Originally Posted by nailer
The market is a bubble just waiting for another wealth popping trigger event. The Obama recovery merely reinflated this ever expanding bubble.
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As I've said before, what is the model for universal sustainable prosperity? I don't know.
__________________
I'll believe corporations are people when Texas executes one.
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03-10-2018, 11:53 AM
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Rational Anarchist
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Join Date: Jul 2014
Location: DFW
Posts: 7,315
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Quote:
Originally Posted by Pio1980
As I've said before, what is the model for universal sustainable prosperity? I don't know.
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Sharing has shown to be a nonstarter.
__________________
"We have met the enemy and he is us."
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03-10-2018, 02:30 PM
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Senior Member
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Join Date: Mar 2017
Posts: 13,286
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__________________
"In a time of deceit telling the truth is a revolutionary act." -
George Orwell
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03-10-2018, 02:52 PM
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Senior Member
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Join Date: Mar 2014
Location: NE Bamastan
Posts: 11,049
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Quote:
Originally Posted by nailer
Sharing has shown to be a nonstarter.
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It's sustainable, but not "prosperity" as we think of it.
__________________
I'll believe corporations are people when Texas executes one.
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