Economic News

  • Thread starter Thread starter nycfan
  • Start date Start date
  • Replies: 2K
  • Views: 122K
  • Politics 
In Trump 1.0, he pointed to new highs in U.S. markets to "prove" that he had built the greatest economy the world had ever known.

Trumpers used to share those posts to show how great their leader was doing. Of course, the markets hit many all time highs under Obama as well (which it tends to do without recession) and Trump said worst economy ever.
 
nycfan said:


200.gif
Click to expand...


Kraftyheel89 said:
In Trump 1.0, he pointed to new highs in U.S. markets to "prove" that he had built the greatest economy the world had ever known.

Trumpers used to share those posts to show how great their leader was doing. Of course, the markets hit many all time highs under Obama as well (which it tends to do without recession) and Trump said worst economy ever.
Click to expand...
He botched the Obama economy; no reason to think he won't botch the Biden economy🤕
 
These guys really don’t understand how this works:

Speaking on Meet the Press on Sunday, Howard Lutnick, the commerce secretary, said that tariffs would help “grow our economy in a way we’ve never grown before.”

Asked about forecasts from banks like JP Morgan and Goldman Sachs, who say a recession in the next 12 months has become more likely, Mr. Lutnick said that Americans should not be bracing for a recession.

“I would never bet on recession,” he said. “No chance.”

Mr. Lutnick claimed that the Trump administration’s efforts to reduce government deficits would drive interest rates down, while drilling more oil would also bring down the price of energy. He acknowledged that tariffs could increase the price of foreign goods, but said that domestic goods would get cheaper.

Many economists have expressed other views, saying that tariffs on foreign products can help U.S. companies become more profitable by giving them space to raise their prices, as well.

“Foreign goods may get a little more expensive,” Mr. Lutnick said. “But American goods are going to get cheaper, and you’re going to be helping Americans by buying American.”
 
nycfan said:


A century is a mighty long time …
Click to expand...


nycfan said:

Trump's economic shock therapy​



“President Trump believes it's worth risking pain to achieve his medium-term goal of rewiring the U.S. economy. He is attempting a form of economic shock therapy, while accepting there could be collateral damage.

IMG_5458.jpeg

IMG_5459.jpeg
Click to expand...
Couple these 2 together and we have a massive change in government, one which Trump intends to be President over indefinitely. When he dies not sure who he will pass the torch too. Maybe he downloads his brain to a Trump AI bot and he rules forever.
 
IMG_5460.jpeg


——
This is far from certainty (and the most certain economists predicting recession or recovery have been wrong plenty of times before), but Trump has effectively rattled investors and analysts so far, especially the ones who previously directed others to “take Trump seriously but not literally” and assured us that his obviously insane claims about tariffs are all about negotiating leverage, not his true beliefs or intentions. I think that is why his foreign policy behavior has also rattled the markets — that was the earlier sign that he does in fact mean what he says and this time doesn’t have anyone around him to stop him from acting on his weird 19th century economic theories and rash pre-WWI foreign policy notions.
 
nycfan said:

Trump's economic shock therapy​



“President Trump believes it's worth risking pain to achieve his medium-term goal of rewiring the U.S. economy. He is attempting a form of economic shock therapy, while accepting there could be collateral damage.

IMG_5458.jpeg

IMG_5459.jpeg
Click to expand...
I've wondered if one reason Trump is doing this is because he knew the P/E ratios were very high (stock market is the economy to him) and predicted a fall in the markets so he wanted it to happen quickly so he can blame Biden.

Remember he did say that the markets were going to crash either before or after the election during the campaign.

The thing is, stocks are not the economy and a moderate market correction doesn't have to mean a recession but he is pushing us to a recession. In either case, he is going to get far more than he wanted in both the market and the wider economy.
 
ChapelHillSooner said:
I've wondered if one reason Trump is doing this is because he knew the P/E ratios were very high (stock market is the economy to him) and predicted a fall in the markets so he wanted it to happen quickly so he can blame Biden.

Remember he did say that the markets were going to crash either before or after the election during the campaign.

The thing is, stocks are not the economy and a moderate market correction doesn't have to mean a recession but he is pushing us to a recession. In either case, he is going to get far more than he wanted in both the market and the wider economy.
Click to expand...
Trump will blame Biden even if a recession holds off until Fall 2028.
 
Bobfripp said:
Trump will blame Biden even if a recession holds off until Fall 2028.
Click to expand...
Of course but he knows that argument is a lot stronger if the recession starts in his first six months.

And in normal circumstances he would be right. Whatever control a president has over the economy, it wouldn't normally happen so quickly and so drastically. But that only applies to a president who isn't seemingly trying to create one.
 
uncmba said:
“Foreign goods may get a little more expensive,” Mr. Lutnick said. “But American goods are going to get cheaper, and you’re going to be helping Americans by buying American.”
Click to expand...
Huh?
 
Recession or not, most agree that on present course = slower growth, rising inflation, rising unemployment. That is trouble for the markets, economy, cost of goods, and employment.

Under Biden, we were doing very well on all fronts, except inflation spiking to 9%, but that was way down and on it's way and almost to Fed target of 2.5%.

This is where Dems (or a feeble old poor communicator) screwed up. It was #1 issue at polls, cost of goods and perception of "terrible economy."
 
I learned a bit of a hard lesson this past November as it pertains to economic sentiment. I was so confident about how so many of the macroeconomic indicators showed that the economy was booming (unemployment at record lows, stock market at record highs, wage growth outpacing inflation, etc.) that I didn't allow myself to consider that the microeconomics for so many people would be the Dems' undoing. As I've shared previously on the board, I grew up pretty poor- SNAP, free lunch at school, etc.- but I've been fortunate to be blessed with economic prosperity now in my 30's. Over essentially the last decade since I graduated from UNC, I've gone from having to basically choose between putting gas in the gar to get to work at my first two jobs working $7.25/hour, or buying groceries. Now I don't even notice the total at the gas pump or at the grocery store checkout. I've gone from eating out at restaurants maybe two or three times per year growing up (always around birthdays) to eating out every day for lunch when I'm not on the road for work. I've gone from having a checking account that I used to overdraw, one that would routinely have single-digit dollars on the day before pay day, to having savings accounts and investment accounts with six-figures in them.

I say all of that to say that I am a bit ashamed that I had apparently forgotten how it is to live paycheck-to-paycheck with grim economic prospects. So when I was touting the historically low-unemployment rates, or the historically-high stock market, or the wage growth outpacing inflation- but forgetting that the economy simply still does not work well for far too many of our fellow Americans- I was definitely doing the Democratic Party for whom I was advocating a disservice. It's easy to feel like everything is great for everyone when you can pull up your healthy savings and investment accounts on your $1,000 smart phone on your way to drop $30 on a random weekday lunch like it's no big deal, but I definitely learned that I need to be more understanding- instead of dismissive of -the plight of so many folks who are hurting economically.
 
You must log in or register to reply here.
Back
Top