The Dumpsterfire Economy

[Pio1980]

What should one expect from a kakistocracy functioning as a kleptocracy.

[donquixote99]

The Democrats have not torpedoed the economy. Dems want the payments to consumers and small business that would keep the economy on life support. GOP has vetoed that.

From Amanda Marcotte in Salon:

But this catastrophe cannot be laid solely at the feet of Trump and his delusions. A huge part of the problem was that Republicans, for all their chatter about "the economy," have always been far more invested in gutting the social safety net and slashing taxes than in the genuine economic well-being of Americans. Reopening fast was largely a dodge used to justify the Republican refusal to pass more bills to protect workers and businesses from economic catastrophe, since those bills would require increased government spending and, most likely, raising taxes on the wealthy to pay for it.

For instance, staff at retail stores and restaurants that forced to closed by lockdown restrictions are eligible for unemployment checks. By lifting those restrictions and ordering people back to work, Republicans can now kick those folks off unemployment. The fact that the "jobs" they're going back to could well evaporate due to lack of business, doesn't matter to Republicans. They just want folks off the unemployment rolls and really don't care what happens to them after that.

[Oerets]

The republican party is spending like there is no tomorrow. Yet little is getting to those who need it. Trust me there will be a tomorrow and all to soon!

Troubled times ahead for the next few generations who will need to pay the tab.

[Chicks]

Stock Market Rises As The Orange Shitstain's Prospects Fall

https://www.forbes.com/sites/johntob...rospects-fall/

President* Trump campaigned vigorously in 2015/2016, promising, among other things, to bring back former leading U.S. industries, then stagnant: Steel, aluminum, oil & gas and coal. However, he failed, and those groups are dramatically lower, even though the overall stock market rose.

Now, however, those stocks are joining today’s rising market because of Trump, but not for the reasons Trump anticipated. This time, it’s his potential leaving that is creating bullishness.

[mpholland]

Well I am enjoying a rare 40 hour week this week. I typically work 50+ hours, and have for the last two years. We just broke ground on a new 75,000 square foot addition to our current facility. I am certain we will be hiring several more people in the near future. The company implemented a $15/hr minimum wage last year, with many of us making much more than that. Not too bad for a semi-rural area with a median per-capita income of $25,403.

Funny thing is I used to work as much OT as I could when I was younger so as to be in a position to not have to work it when I got older. I sure hope we hire some more soon, as I am getting tired of it.

https://ktvz.com/news/redmond/2020/0...certain-times/

[donquixote99]

Always great to hear of the success of enterprising g, responsible independent businesses. We

[Chicks]

Q2 GDP: US economy contracted by worst-ever 32.9% in Q2

https://finance.yahoo.com/news/q2-gd...171558880.html

SO MUCH WINNING!!!!! Ya think Donny will be tweeting about the Dow today?

[Chicks]

Exxon to suspend company match to employee retirement plans in Oct

https://finance.yahoo.com/news/exxon...050005927.html

Screw you, employees! We’re holding firm on the divided for shareholders, though!

Shareholder value, the mantra at MegaCorp for the last decade I worked there. Employees are disposable.

[Chicks]

Data show Orange Shitstain didn't 'build' a great economy. He inherited it.
The average quarterly economic growth under Trump, 2.5 percent, was almost exactly what it was under Obama in the second term, 2.4 percent.

https://www.nbcnews.com/politics/mee...rited-n1237793

...just like he inherited all his money from daddy, then lost it...

[Chicks]

Orange Shitstain says he saved 51 million jobs in pandemic. Economists, U.S. officials say otherwise

https://www.reuters.com/article/us-h...-idUSKBN25N1IZ

Bullshit, Donny.