BlooVooDoo
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He wants to hire them at The Boering Company.
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Trump / Musk (other than DOGE)
- Thread starter nycfan
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- Politics
He wants to hire them at The Boering Company.
ChileG
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Wait, they agreed to do this without Trump threatening to shoot himself in the dick?Trump is an amazing negotiator. He leveraged Canada to implement plans that it agreed to last year
'Folding like a bad poker player': Critics say Trump 'got played' by Trudeau
Critics on social media laughed as news broke that President Donald Trump paused plans to levy severe tariffs on Canada.Prime Minister Justin Trudeau announced Monday afternoon that Trump agreed not to impose tariffs on his country for at least a month. In a statement, Trudeau said the proposed...www.rawstory.com
I’m starting to think there are better ways to negotiate with allies than threatening them with a Global recession.
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You count one day "paper losses" in your investment account or retirement account as an actual loss? Are you liquidating your accounts today? The market will bounce back.
As I posted earlier, Wells and other industry experts predict mortgage rates will fall to 6.1-6.3% by the end of the year. You should be mad at Biden as his inflationary spending caused rates to rise in the first place.
No politician is going to "cut" social security payments - that's political suicide. Might as well worry about an asteroid hitting your house.
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Is the Administration seeking a justification to use military force (bombs or troops?) in Mexico against Mexican drug cartels? I mean, sure, maybe in a vacuum that sounds outlandish, but that is something Trump floated many times during his campaign.
Could also just be PR preening but sounds ominous.
This is completely false. How can you believe stupid shit like this? I'd explain it to you, but you seem to have the cognition of a 3rd grader.
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do you think trump giving away the largest welfare handout in the history of the usa had any effect? over $2 trillion dollars with one signature? $2 trillion fucking dollars.
heelinhell
Iconic Member
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It is so sad that these GOPers in Congress are so afraid of Trump. Dr. Cassidy just violated his Hippocratic Oath:
" I will follow that system of regimen which, according to my ability and judgment, I consider for the benefit of my patients, and abstain from whatever is deleterious and mischievous."
CRHeel94
Esteemed Member
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The Panama thing? Ugh..no. That was the spin given by Trump. Chinese have owned those ports for more than 25 years. They have nothing to do with the operation of the Canal. By the way, Chinese companies operate more than 120 ports around the world.
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Pretext, pretext, pretext.
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Over 5.25T in additional spending in 2021/22 alone (coming on the heels of COVID spending in 2020) AND he wanted trillions more - only Sinema and Manchin stopped him
1.9T - American Rescue Plan - unnecessary as Congress passed almost 1T in COVID relief in December 2020. By April 2021, most of America was on their way to getting vaxxed and returning to work.
1.2T - infrastructure bill -
1.75T Build Back Better
1.6T Inflation Reduction Act - actually a green new deal act.
So you're stating I'm "stupid" for believing that this amount of unnecessary stimulus didn't contribute to inflation? "Completely false?" Larry Summers agrees with me. Yes, there were other contributing factors such as supply chain issues but the additional spending was the main cause of the inflation.
1.9T - American Rescue Plan - unnecessary as Congress passed almost 1T in COVID relief in December 2020. By April 2021, most of America was on their way to getting vaxxed and returning to work.
1.2T - infrastructure bill -
1.75T Build Back Better
1.6T Inflation Reduction Act - actually a green new deal act.
So you're stating I'm "stupid" for believing that this amount of unnecessary stimulus didn't contribute to inflation? "Completely false?" Larry Summers agrees with me. Yes, there were other contributing factors such as supply chain issues but the additional spending was the main cause of the inflation.
lawtig02
Inconceivable Member
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Guantanamo is an absolute nightmare for criminal due process. Especially if torture is involved. That said, due process may not mean much going forward.
superrific
Legend of ZZL
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Son, you know less about economics than about law. Nobody cares about your Biden mewling. We now know what caused the inflation, and it was supply chain disruption.
Of course stimulus contributed to inflation, but you said Biden's spending was the cause of post pandemic inflation, which is bullshit. And how come Trump's roughly $5T in stimulus in the form of spending and tax cuts gets a total pass from you in this analysis? Regardless, supply chain disruptions combined with a shift in demand from services to goods was the primary cause of inflation. Also do you care to address the fact that the US fared better than most of its peers as it relates to pandemic induced inflation? If Biden's stimulus was the sole cause of inflation then how come it came down faster in the US than most other countries' inflation rates?
lawtig02
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That's a bit of an oversimplification, but certainly immensely more correct than Ram's idiotic blame gaming.
Section 3 also performs a decomposition of the 6.9 percentage point rise in headline inflation between end-2020 and September 2022 (from 1.3 percent to 8.2 percent). It concludes that the combination of direct and pass-through effects from headline-inflation shocks accounts for about 4.6 percentage points of the rise in 12-month inflation. A rise in expected inflation accounts for 0.5 percentage point, and the rise in labor market tightness (measured by the ratio of vacancies to unemployment) accounts for 2.0 percentage points.
* * *
In the simple regressions, the variables with the most explanatory power are, in order of importance (with adjusted R-squared statistics in parentheses): energy-price shocks, measured as energy price inflation minus median inflation (0.646); the IHS Markit Economics index of firms’ backlogs of goods and services orders, which we interpret as a measure of supply chain disruptions (0.429); the share of goods in aggregate consumption, which captures the shift away from services during lockdowns (0.253); and auto-price shocks, measured as a weighted average of auto-related inflation rates (new and used cars, car rentals, and car insurance) minus median inflation (0.191).
In multiple regressions, we find high explanatory power from a combination of three variables: energy-price shocks, backlogs of work, and auto-price shocks. A regression of headline shocks on these variables has an adjusted R-squared of 0.912. When all three are included, the goods share is not significant.
superrific
Legend of ZZL
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If the market will just "bounce back" no matter what, does that mean nothing ever matters? Kind of a strange position.
1. Let me explain a bit of finance to you. Securities are priced by the following formula: Return = Risk-Free-Return + B * market premium. The market premium can be security-specific, sector specific, market specific, or based on a number of other factors. Let's look at the first term.
The "risk-free return" isn't exactly free of risk, but it's systemic risk. We call it "risk-free" because if the bad outcome comes true, we will have a lot more problems than a dip in our portfolio values.
What Trump has done is increase the risk-free rate of return. That is, because of his policies, people require more yield to choose investment over consumption. That's the upshot of the trade war bullshit. The world's economy is less sound than it was a week ago, because there are malevolent actors in key positions trying to undermine it. And we are paying for that with higher interest rates. His fiscal profligacy has also caused interest rates to rise, though that's something of a US specific risk (which can be globalized).
2. Economists have demonstrated that we pay approximately 0.10-0.25% more interest on US debt as a result of the Pubs' debt ceiling brinksmanship during the Obama years. Every time the Pubs threaten a default, the US ends up paying more in interest. And that means every American with debt (mortgage, credit card, business, etc) is paying more in interest.
Debt ceiling brinksmanship has clear negative effects on taxpayers
Debt limit brinksmanship is already impacting Treasury securities. The increase in interest rates represents a cost to taxpayers and a lack of confidence among investors.
www.brookings.edu
And now we're getting the same thing with Trump's policies. He has added permanent instability to the world economy, and my guess is that the "risk-free" rate will have increased by almost 10 basis points. That's about $300B per year in additional interest rates paid by the federal government.
3. All of the DOGE savings actually identified have been on the order of $3B a year. So it's been two weeks and Trump has already cost the US hundreds of billions of dollars. WINNING! Of course, to understand this requires some education. And then you wonder why educated people everywhere loathe MAGA and the other organized ignorance movements like Brexit etc.
superrific
Legend of ZZL
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Of course it is an oversimplification. More than a bit. The guy I'm responding is a lawyer who doesn't understand concepts like jurisdiction. He's going to have zero chance with R-squared.
The additional fiscal spending in 2021 added very little to inflation. Probably on the order of GOP debt ceiling brinksmanship. At least from the fiscal spending, people were able to eat and pay their rent/mortgage. The GOP raises interest rates just to do it. Gives them woodies I guess.
superrific
Legend of ZZL
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I'm 100% sure they didn't.