The Dumpsterfire Economy

[ebacon]

Originally Posted by Chicks

Munchkin: The stock market is the Trump administration's economic report card

https://www.cnbc.com/2017/02/23/mnuc...port-card.html

Yep. Own it, Stevie.

I give up on trying to figure out what this administration wants to build and maintain.

It's interesting that in 2017 Mnuchin said, "we're in an environment where there is very attractive investment opportunities in the US." What the hell did he see as attractive? Growing and selling pot to subvert our nation like the Opium Wars that happened 150 years ago? Is that his game book? I am convinced it is.

The US had every material thing that any rational person could ever want by the time K-Mart and Builder's Square went under. Around then Warren Buffet suffered one of his biggest blunders when his investment in American textiles went under. Warren thought that Americans would never go so far that they could not make underwear for themselves. Wrong.

A few years later, but before Mnuchin's 2017 babbling, Warren said that he could not find any more value to be had in America. Warren was trepidatiously investing in foreign markets while avoiding investing in the growing American energy trade/information economy that he did not understand. Fuck. I am a electrical engineer/patent attorney and I still do not understand it either. It's a circle jerk of blinking lights as far as I can tell.

Warren Buffet is more mensch than mere meat with eyes. Mnuchin appears to be mindless meat.

[Dondilion]

Mnuchin has a cover - the virus.

[Chicks]

Originally Posted by Dondilion

Mnuchin has a cover - the virus.

Gee thanks, captain obvious!

[Chicks]

10 swing states face crushing job losses

https://finance.yahoo.com/news/10-sw...210935804.html

It is absolutely vital for the Dems to blanket the airwaves in these states with the facts about Donny's blame for the utter failure of his government to prevent the spread of this virus, when it was well known to be coming. Trumpkins, sadly, are mostly Faux "News" watching idiots, so it will be difficult, but not impossible, to get through their thick skulls.

[Chicks]

Coronavirus is revealing how broken America’s economy really is
We are told by everyone from the United Nations to Donald Trump that the US is a ‘developed’ economy. The statistics suggest otherwise

https://www.theguardian.com/news/dat...onomy-covid-19

[Chicks]

My Retirement Plan Is You
Americans without retirement savings are increasingly moving in with their millennial children.

Known as the reverse-boomerang effect, the phenomenon of parents moving in with their adult children, often for financial reasons, is on the rise. According to a Pew Research Center analysis of population data, 14 percent of adults living in someone else’s home in 2017 were a parent of the head of household, up from just 7 percent in 1995. And this trend is expected to balloon in the coming decades as baby boomers leave the work force but can’t afford to support themselves.

Expressed in starker terms, the Center for Retirement Research at Boston College has predicted that half of today’s workers will not have enough savings to sustain their standard of living when they retire. According to the AARP Public Policy Institute, one in five Americans will be over the age of 65 by 2030 (compared with one in seven in 2017), “and our nation will face a severe shortage in accessible and affordable housing to meet their needs.”

...yet the Repubes are determined to destroy ALL safety nets, including, for starters, Social Security and Medicare...

[Chicks]

COVID-19 Is Also a Reallocation Shock

https://www.nber.org/papers/w27137

We find 3 new hires for every 10 layoffs caused by the shock and estimate that 42 percent of recent layoffs will result in permanent job loss.

Anyone who still votes for a Repube after Donny's disastrous mishandling of this pandemic will be a traitor, plain and simple.

[Chicks]

The US economy is officially in recession

https://finance.yahoo.com/news/us-ec...165226139.html

Because Donny and the Repubes haven't a clue.

[RickeyM]

Of course Donny will say it's not his fault but elect him again because only he can fix it.

[Chicks]

US job market’s modest improvement may be stalling

https://apnews.com/fa8499715b15252f959aed371b10b3a3

The economy is expected to shrink at a roughly 30% rate in the current quarter. That would be the worst quarterly contraction, by far, since record-keeping began in 1948.

SO MUCH WINNING!!!!