Jump to content

Economy Thread

Zavala

By Zavala
in Cloak Room

 Share

Recommended Posts

  • Replies 483
  • Created
  • Last Reply

Top Posters In This Topic

Popular Days

Top Posters In This Topic

Popular Days

Popular Posts

elfenix
elfenix

*thinks the US should be running surplusses generally* *watches the US run a surplus for the first time in his lifetime* *watches the republicans pass not just one but two tax cuts which put us on the

Brisketexan
Brisketexan

This. And as for Onboard's preferred economic approach -- I generally share that.  But here's what I realized about the GOP -- not only are they NOT in favor of what we thought they were....when

Brisketexan
Brisketexan

Let's break down these talking points - because that's all they are, talking points. As many have noted, we already have it.  We have free healthcare for every single human being in this countr

Posted Images

Enchubben

Enchubben 5509

Posted
Posted
4 minutes ago, Parliament said:

Yep.  Hard to get reelected in a recession.

Can’t help that’s for sure. Then again, he’ll (potentially) be campaigning against socialist policies that will raise everyone’s taxes and further crush the markets. 
 

I think most people won’t correlate the Coronavirus economic impact with trumps policies, CNN excluded.

Link to comment
Share on other sites
Brisketexan

Brisketexan 104465

Posted
Posted
28 minutes ago, Enchubben said:

Can’t help that’s for sure. Then again, he’ll (potentially) be campaigning against socialist policies that will raise everyone’s taxes and further crush the markets. 
 

I think most people won’t correlate the Coronavirus economic impact with trumps policies, CNN excluded.

Fascinating.  So, the read here is that the same people who give a president credit for an economy that is largely doing what it's gonna do, regardless of a president's actions (this has been the case forever -- both the economy doing what it's gonna do without regard for the president, and the people nonetheless giving the president credit (or blame) for the economy)....won't blame the president when the economy tanks because it's gonna do what it's gonna do, regardless of what the president does?

Interesting.  Mind you...I actually may AGREE with you, but not because of what the president does or doesn't do.  Rather, I think we're in an unprecedented situation when it comes to how the president's supporters view him (the cult dynamic).  They can only approve of him, never disapprove.  So, we may see a break from the historical pattern here, but it won't be because Trump did anything different - positive or negative - with the economy. Rather, it will be because by his very nature (as held by his supporters), he is incapable of doing wrong.

This may offer some interesting political history.

Oh, and on the bright side, there WILL be things we can absolutely blame Trump for -- like gutting CDC funding for just this sort of crisis, leaving critical positions unfilled, etc.  Responding to an immediate health crisis is actually one of the things the executive has more control over, and we are already set up to fail.  So, that will be interesting to watch as well, but that's really aside and apart from the economic issues.

Link to comment
Share on other sites
Parliament

Parliament 14112

Posted
Posted
34 minutes ago, Brisketexan said:

Fascinating.  So, the read here is that the same people who give a president credit for an economy that is largely doing what it's gonna do, regardless of a president's actions (this has been the case forever -- both the economy doing what it's gonna do without regard for the president, and the people nonetheless giving the president credit (or blame) for the economy)....won't blame the president when the economy tanks because it's gonna do what it's gonna do, regardless of what the president does?

Interesting.  Mind you...I actually may AGREE with you, but not because of what the president does or doesn't do.  Rather, I think we're in an unprecedented situation when it comes to how the president's supporters view him (the cult dynamic).  They can only approve of him, never disapprove.  So, we may see a break from the historical pattern here, but it won't be because Trump did anything different - positive or negative - with the economy. Rather, it will be because by his very nature (as held by his supporters), he is incapable of doing wrong.

 

My comment on economy:reelection is in the general sense, and I agree that the President is credited and blamed for the economy WAY more than he/she should.  No person is that powerful.

34 minutes ago, Brisketexan said:

Oh, and on the bright side, there WILL be things we can absolutely blame Trump for -- like gutting CDC funding for just this sort of crisis, leaving critical positions unfilled, etc.  Responding to an immediate health crisis is actually one of the things the executive has more control over, and we are already set up to fail.  So, that will be interesting to watch as well, but that's really aside and apart from the economic issues.

This thread is happily devoid of political discussion.  Let's please keep it that way.

Link to comment
Share on other sites
Brisketexan

Brisketexan 104465

Posted
Posted
7 minutes ago, Parliament said:

My comment on economy:reelection is in the general sense, and I agree that the President is credited and blamed for the economy WAY more than he/she should.  No person is that powerful.

On that, we are in agreement.  And this has long been my read on it -- back to GHWB, so pretty early in my political formation.  When you look at the drivers of the economy, the president and his policies have rather little effect.

8 minutes ago, Parliament said:

This thread is happily devoid of political discussion.  Let's please keep it that way.

Fair enough.  That said, what I responded to was entirely political, down to the gratuitous dig at CNN.  It's asinine.  And, I think it does point to an interesting political sideline -- you and I both agree that the president typically gets way more credit/blame for the economy than he deserves.  We may get a real opportunity to see that phenomenon break pattern over the next few months -- I believe that Trump is bulletproof on such matters, in that his supporters refuse to see him in any negative light (economy included).  That will be interesting to watch.

Link to comment
Share on other sites
David Dennison

David Dennison 18608

Posted
Posted (edited)
1 hour ago, Enchubben said:

Can’t help that’s for sure. Then again, he’ll (potentially) be campaigning against socialist policies that will raise everyone’s taxes and further crush the markets. 
 

I think most people won’t correlate the Coronavirus economic impact with trumps policies, CNN excluded.

So voters are too politically naive to know that the president doesn't change domestic tax policy with a snap of his fingers but they are savvy enough to know the president's economic policies don't correlate with a global pandemic?

OK.

Edited by David Dennison
  • Like 1
Link to comment
Share on other sites
gsoda3

gsoda3 3234

Posted
Posted
41 minutes ago, Parliament said:

My comment on economy:reelection is in the general sense, and I agree that the President is credited and blamed for the economy WAY more than he/she should.  No person is that powerful.

This thread is happily devoid of political discussion.  Let's please keep it that way.

i agree.  however there's been no other person in the past 20 years who has had so much influence over the markets.  it's ridiculous how much effect a single tweet has nowadays.  

  • Like 1
Link to comment
Share on other sites
Enchubben

Enchubben 5509

Posted
Posted
3 hours ago, Brisketexan said:

Fascinating.  So, the read here is that the same people who give a president credit for an economy that is largely doing what it's gonna do, regardless of a president's actions (this has been the case forever -- both the economy doing what it's gonna do without regard for the president, and the people nonetheless giving the president credit (or blame) for the economy)....won't blame the president when the economy tanks because it's gonna do what it's gonna do, regardless of what the president does?

Interesting.  Mind you...I actually may AGREE with you, but not because of what the president does or doesn't do.  Rather, I think we're in an unprecedented situation when it comes to how the president's supporters view him (the cult dynamic).  They can only approve of him, never disapprove.  So, we may see a break from the historical pattern here, but it won't be because Trump did anything different - positive or negative - with the economy. Rather, it will be because by his very nature (as held by his supporters), he is incapable of doing wrong.

This may offer some interesting political history.

Oh, and on the bright side, there WILL be things we can absolutely blame Trump for -- like gutting CDC funding for just this sort of crisis, leaving critical positions unfilled, etc.  Responding to an immediate health crisis is actually one of the things the executive has more control over, and we are already set up to fail.  So, that will be interesting to watch as well, but that's really aside and apart from the economic issues.

We are in agreement, I suppose I could have worded that better. I don’t think republicans will blame Trump for any dip in the market related to the coronavirus, while they will be stoked with fear related to Bernies policies. I’m not saying either is right or wrong, but in the context of whether it makes it harder for Trump to get re-elected I don’t think so.  I don’t think it moves the needle for people that already lean to one side or the other of re-election.

Link to comment
Share on other sites
Zavala

Zavala 1384

Posted
  • Author
Posted
On 2/26/2020 at 11:15 AM, Rusty Shackelford said:

Honk Kong breaks out the helicopter money.  This blog is worth a follow, btw

https://themacrotourist.com/moas-version-0-96b/

link doesn't work?

Check this one out:

https://kunstler.com/writings/clusterfuck-nation/

 

You think if all the schemes start to implode from coronavirus scare that we could just all 100% flip to constitutional treasury notes and ditch the FED USD?

Link to comment
Share on other sites
Francisco 2.0

Francisco 2.0 32290

Posted
Posted

Oh shit.  Carson probably is a dead man walking.

https://www.axios.com/ben-carson-minimum-wage-f6b1f06e-6745-4f46-8a76-6077dbbd6b84.html?utm_source=tsc&utm_campaign=hboseason3a

Quote

In an interview for "Axios on HBO," Housing and Urban Development Secretary Ben Carson told me that the $7.25-an-hour federal minimum wage would be "very difficult" to live on and that in his view it should be higher.

Driving the news: "I don't have any problem with raising the minimum wage," Carson said. "My personal opinion is that it should be indexed."

"You determine what the minimum wage should be, but when conditions change, it needs to change with it, it needs to be indexed," he added. "Then you don't keep having these arguments every 10 or 15 years."

 

 

Quote

This is the first time, as HUD secretary, that Carson has publicly admitted that America has a problem with its minimum wage.

Details: Carson, one of the most important but undercovered figures in national politics, is the top federal government official charged with housing the poorest and most vulnerable people in America.

The Trump administration has proposed sweeping cuts to his department's budget at a time when homelessness is on the rise.

Carson wants the federal government to play a smaller role in housing the poor.

He says local governments need to stop expecting more money from the federal government and should instead cut regulations, build smaller, cheaper homes, and encourage churches and the private sector to help people experiencing homelessness.

 

Quote

In our interview, Carson conceded the current minimum is too low after I cited a study by the National Low Income Housing Coalition that found that a worker earning $7.25 must work "103 hours per week (more than 2.5 full-time jobs) to afford a one-bedroom rental home at the national average fair market rent."

The big picture: "Axios on HBO" joined Carson on his recent bus tour to California, where he met with local officials to discuss a federal-state strategy for the state's homelessness and housing affordability crises.

During the tour, Carson said repeatedly that government programs have fostered "dependency" out of a misguided concept of compassion.

 

 

 

  • Like 1
Link to comment
Share on other sites
BradInATX

BradInATX 9208

Posted
Posted (edited)

"Carson wants the federal government to play a smaller role in housing the poor.

He says local governments need to stop expecting more money from the federal government and should instead cut regulations, build smaller, cheaper homes, and encourage churches and the private sector to help people experiencing homelessness."

 

This is why the Republicans tolerate Trump. Because behind the idiot making all of the noise on Twitter and the TV, the poor are getting fucked over and the rich are getting their pockets lined. Which is all the GOP really ever wanted.

Edited by BradInATX
  • Like 2
  • Fuck You 1
Link to comment
Share on other sites
Anastasis

Anastasis 23375

Posted
Posted (edited)
7 minutes ago, Captainant said:

What's driving oil prices off a cliff? Are the saudis just fucking with us by opening the taps? 

Based on what I can tell, appears that MBS is fucking with Russia, who is fucking with US shale gas producers. Lots of good all that Saudi hand holding and kissy cheek over the last 30 years is doing for us at this moment. 

Edited by Anastasis
Link to comment
Share on other sites
Francisco 2.0

Francisco 2.0 32290

Posted
Posted
6 minutes ago, Captainant said:

What's driving oil prices off a cliff? Are the saudis just fucking with us by opening the taps? 

Russians and Saudis both.

 

Russians wouldn't agree to cuts with OPEC on Friday.  Oil dropped.  Then Saudis came out and said after this month, they were gonna pump all they could.  Then it dropped more (and still is).

 

 

Link to comment
Share on other sites
Anastasis

Anastasis 23375

Posted
Posted
19 minutes ago, MaybeACoordinator said:

Makes it easier to keep your truck one step ahead of the repo man. Duh. 

I've always wanted one of them fancy boy expensive raptor trucks.  Should be a glut of them on craigslist fairly soon. 

  • Haha 1
Link to comment
Share on other sites
Francisco 2.0

Francisco 2.0 32290

Posted
Posted (edited)

Crossposted from the DT market thread:

 

Quote

Holy shit, Azar was trotted out to speak to the press at the White House and proclaim that the economy is strong.

The Secretary of Health and Human Services.  To talk about the economy.

 

Edited by Francisco 2.0
Link to comment
Share on other sites
David Dennison

David Dennison 18608

Posted
Posted
5 minutes ago, washparkhorn said:

 

Real talk: that wing still controls the Democratic Party.

They'll do it again to protect capitalism. Capitalism in America is more important than democracy. Capital is more important than labor.

This is known.

If you want to get their attention, strike. Stop going to work. Stop buying things. Stop paying your bills. But we won't because we can't. We will be punished if we do those things. Capitalism has us trapped and the owners of this country know it.

  • Like 2
Link to comment
Share on other sites
sidis

sidis 9713

Posted
Posted
6 minutes ago, David Dennison said:

Real talk: that wing still controls the Democratic Party.

They'll do it again to protect capitalism. Capitalism in America is more important than democracy. Capital is more important than labor.

This is known.

If you want to get their attention, strike. Stop going to work. Stop buying things. Stop paying your bills. But we won't because we can't. We will be punished if we do those things. Capitalism has us trapped and the owners of this country know it.

Op6P6Uh.gif

Link to comment
Share on other sites
washparkhorn

washparkhorn 9931

Posted
Posted
4 minutes ago, Pig Bellmont said:

TARP was signed into law by Bush on Oct 3 2008. Obama’s wing of the party helped push through the creation of the CFPB and other reforms. But sure, let’s pretend google doesn’t work

Do you really want to go down that road . . . ?

Signed,

The Pitchforks™ 

Link to comment
Share on other sites
GW Hayduke

GW Hayduke 1950

Posted
Posted (edited)
9 minutes ago, washparkhorn said:

Try to keep up. The BIDEN wing of the Dem Party.

 

1 hour ago, washparkhorn said:

Just a reminder as the bank go begging for yet another bailout:

 

Twitter trumpkins have trouble keeping up with their slew of twitter posts. Read a newspaper. Go talk to the guy at the corner store.

Edited by GW Hayduke
Link to comment
Share on other sites
washparkhorn

washparkhorn 9931

Posted
Posted

Fondest wishes GW. 

Trump is crowing about this 4.1 percent GDP growth, right? Yet if you look at the statistics, real worker wages have continued to be flat for this period. The crisis itself was the greatest looting of the public purse in history. The crisis itself was a huge wealth transfer. The Obama administration should have forced a lot more recognition of the losses. These losses were real. They should have forced more loan write-downs. And recognition of the loss to the financial system. And they should have had a huge stimulus to offset the downdraft of recognizing those losses. And in fact the Japanese, early in their crisis, they said the biggest mistake we made was not writing down the bad loans in the banking system. “Don’t repeat our mistake.”

And we did this in a more indirect manner by having the Fed engineer these super-low interest rates that were a transfer from savers to the financial system. Economist Ed Kane said that basically savers lost $300 billion in income a year. So that reduction of income right there, you see today. There’s a Wall Street Journal story about how pension funds are in crisis. There’s not a single mention of the fact that the zero-interest-rate policies are the reason why the pensions are in distress. All retirees and long-term savers, life insurance, they’re all in the same boat. It used to be that if you were a saver or an asset holder, you could get a decent positive return doing something not crazy. And the Fed took that away. The big reason the pensions are in crisis is because of the way we dealt with the crisis.

We have this fallacy that normal people should be able to save for retirement. If public pension funds, which can invest at the very lowest possible fees, can’t make this work, how is Joe Mom-and-Pop America gonna be able to do this? Again, it’s back to the stagnant worker wages. So, great, we’re not paying people enough, housing prices are very inflated. We’ve got this horrible medical system that costs way too much, and how are people supposed to put any money aside when their real estate and their rents and their health costs are going up?

Why do you think we have Trump? I mean, even though he did a big bait-and-switch, as we all know, there were a lot of people that lost their homes, their community wasn’t what it used to be, particularly if they lived in the Rust Belt. And then you have these people on the coast saying, “Oh, they should go get training. It’s disgusting.” I mean, let them eat cake is let them get training. What you hear from these coastal elites: People over 40, even over 35, are basically unhirable. Are you gonna train them? They’re gonna waste their time thinking they can get a new job? I mean, that’s just lunacy.

https://nymag.com/intelligencer/2018/08/yves-smith-on-why-we-didnt-see-the-2008-crash-coming.html

Thoughts and prayers for you and yours. 

  • Like 1
Link to comment
Share on other sites
 Share
Go to topic listing


Football ... Basketball ... Baseball ... Other Sports ... Futbol ... 🤫995🤫 ... Gambling ... Movies & TV ... Music ... Hobbies ... Lulz ... Food & Travel ... Daily Texan ... Business and Markets ... Cloak Room ... Help ... For Sale ... Board Discussion ... Subscribe!... Donate!... Advertise... COOKIE MONSTER!

×
×
  • Create New...