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Thread: Trump Effect - Household Income Hits 15-Year High

  1. #401

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    A perfect example of how he was unable to make money with his casinos.


    President Donald Trump on Wednesday insisted that there was no way the United States could possibly lose its trade war with China, given that the U.S. already has a large trade deficit with its Asian rival.


    “When you’re already $500 Billion DOWN, you can’t lose!” the president wrote on Twitter.

    https://www.rawstory.com/2018/04/kin...ina-trade-war/

  2. #402
    I'd rather C2E than work!
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    The pronunciation of 'Duce' is uncannily close to 'douche'. Gotta be a connection there.
    Nisi Dominus Frustra

  3. #403

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    I'm fond of Cheeto Mussolini myself.
    Giving less of a damn than everů Can't laugh at the ignorant if you ignore them!

  4. #404

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    Will China pull out the big guns, just when the US needs to finance $1/5 in debt?

    China's $1.2 trillion weapon that could be used in a trade war with the US

    China holds $1.17 trillion of U.S. government debt.


    Economists and investors worry if there is a trade war, China could reduce its U.S. debt holdings as a political weapon against the Trump administration tariffs proposal.


    If that happens, the dollar could fall and other countries could follow suit and sell their holdings.


    If China reduces its buying at a time when the U.S. is increasing its supply of new Treasuries into the market, that could lead to a rout in the bond market.

    https://www.cnbc.com/2018/04/05/chin...trade-war.html

  5. #405

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    Watch how quickly China matches his move. As soon as he makes the formal announcement, China will likely respond in less than a day. They're ready for any move he makes.

    Trump decides to triple tariffs to $150 billion after China threatens to match with their own tariffs

    President Donald Trump said on Thursday he had instructed U.S. trade officials to consider $100 billion in additional tariffs on China, fueling an already heated trade dispute between the world’s two biggest economies.


    Trump said in a statement the further tariffs were being considered “in light of China’s unfair retaliation” against earlier U.S. trade actions that included $50 billion of tariffs on Chinese goods.

    https://www.rawstory.com/2018/04/tru...match-tariffs/

  6. #406

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    China’s reserves of USD though leaves China in a tough position.

    Maybe $2 trillion! They can keep them for a bit of interest (might be very profitable with rising rates due to Trump causing prices and inflation to rise), they can try to trade them off, they can buy goods and services (probably US goods and services, but maybe trade them off via goods and services from other places like Saudi Arabia), they can buy American assets (maybe they’re behind the stock market’s never ending climb), or what else?


    https://en.m.wikipedia.org/wiki/Fore...na#Composition
    Last edited by KC; 05-04-2018 at 07:33 PM.

  7. #407

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    Watching Larry Kudlow flail is a reminder that Trump has brought one of Wall Street's ugliest habits to the White House

    http://www.businessinsider.com/larry...et-mess-2018-4
    I am in no way entitled to your opinion...

  8. #408

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    And the winning continues.

    Dow tumbles 572 points as trade war fears pummel stocks

    The Dow closed down 572 points, a drop of 2.3%, after President Trump threatened to escalate a confrontation with China over trade. It fell as much as 767 points earlier in the day. The S&P 500 and the Nasdaq each declined more than 2%.


    Friday's losses wiped out gains for the week, and the Dow sank back into correction territory — 10% below its all-time closing high in January.


    Trump said late Thursday that he was considering tariffs on $100 billion more in Chinese exports, which would triple what the United States is already planning.

    http://www.kitv.com/story/37894972/d...r-fears-return

  9. #409

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    Trump "Amazon doesn't pay taxes!"

    Trump's Retail Website Only Pays Sales Taxes In 2 States. Amazon Pays Taxes In 45.

    TrumpStore.com, which touts itself as the “official retail website of the The Trump Organization,” doesn’t even pay sales taxes on its online shipments in New York, according to the information on its site. Its physical store and headquarters are located in the Trump Tower in Manhattan.


    Trump, who maintains his ownership of the Trump Organization even while president, has been slamming Amazon on Twitter for dodging sales taxes. He has called it a “no-tax” company and has blasted Amazon for paying “little or no taxes to state & local governments.”

    https://www.huffingtonpost.ca/entry/...b09d0a11946b1c

  10. #410

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    Trump is on air making Yuge boasts about the economy and the 3 million jobs that no one would believe would happen since he took office.

    His tax cuts and all is boasting has no significant change


    Reality

    The Labor Department released its official hiring and unemployment figures for March on Friday morning, providing the latest snapshot of the American economy.

    The Numbers
    103,000 jobs were added last month. Wall Street economists had expectedan increase of about 185,000, according to Bloomberg.
    ■ The unemployment rate was 4.1 percent for the sixth straight month.
    ■ Average earnings rose by 8 cents an hour and are up 2.7 percent over thepast year.
    ■ The Labor Department revised its estimate of February’s job growthupward, but January’s figure was revised sharply downward. The net result was aloss of 50,000 jobs relative to prior estimates.


    No big upswing in job numbers beyond the average statistical ranges over the last 7 years.


    https://www.bloomberg.com/quicktake/...us-jobs-report



    Advocating a better Edmonton through effective, efficient and economical transit.

  11. #411

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    So much winning!

    CBO confirms GOP tax bill will worsen offshore tax dodging
    While corporations receive massive tax windfalls.

    “By locating more tangible assets abroad, a corporation is able to reduce the amount of foreign income that is categorized as GILTI (Global Intangible Low Taxed Income),” the report said. “Similarly, by locating fewer tangible assets in the United States, a corporation can increase the amount of U.S. income that can be deducted as FDII (Foreign-Derived Intangible Income). Together, the provisions may increase corporations’ incentive to locate tangible assets abroad.”


    The CBO findings echo analysis from non-partisan think tanks like the Institute on Taxation and Economic Policy, which found that the Republican Tax Cuts and Jobs Act would make offshore tax dodging even worse than it was before. The Center on Budget and Policy Priorities similarly found that the plan is “likely to lead to more outsourcing of U.S. jobs and a larger trade deficit” due to its tax cuts for overseas profits.

    https://thinkprogress.org/corporatio...-1cd19cc24ff3/

  12. #412

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    And there's the IMF calling out the end game. By the next time a recession rolls around, the US won't ba able to increase spending in order to lessen the effects. The onlt thing they'll be able to do is slash spending. Which is what they always want to do. We all remember how ell that worked with Ralph. We blew up a hospital because we couldn't afford to staff it. We put off needed maintenance of roads and schools and hospitals and we laid off teachers and nurses. Now imagine that on a national scale x 10.

    Trump spending bill leads to stark IMF warning

    The IMF predicts that by 2023, the U.S. will have a larger debt-to-GDP ratio than Italy, a country with such high debt that it’s often referred to as a “ systemic threat,” to Europe.


    The actions taken by the U.S. right now are "unusual since most countries normally increase the deficit to stimulate the economy during period of recession, but reduce the deficit during good times," said Barry Bosworth, senior fellow in the Economic Studies Program at the Brookings Institution, a bipartisan policy center.


    "The U.S. had already recovered from the recession by 2017, but the government enacted a large tax cut and expenditure increases at the beginning of this year. Since we are near full employment, the deficit will be offset by interest rate increases in the future," he said. The rising debt-to-GDP ratio, he added, will, "inhibit the ability to increase the deficit in the event of a future recession."

    https://www.rawstory.com/2018/04/tru...k-imf-warning/
    And the GOP reaction? More tax cuts. Just like the Kansas experiment only bigger.

    Republicans fear political risk in Senate races as House moves to extend tax cuts

    Heading into a contentious campaign for control of Congress, Republicans are increasingly divided over how to bolster their signature legislative achievement — a $1.5 trillion tax cut — amid signs it is not the political gift they had expected it to be last year.


    House Speaker Paul D. Ryan (R-Wis.) aims to pass another massive tax cut this summer, which Republicans hope will rev up the GOP base and improve the standing of Republicans at the polls.

    https://www.washingtonpost.com/busin...=.51133c7dab1a

  13. #413

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    Well, if they can create a new economic bubble, create the “Roaring 20s” then maybe private sector growth will grow tax receipts. That’s the theory.

    If not, then the massively downsize government, curtail government payments for social security and health care and raise taxes way up. It’s a huge gamble but they are obviously willing to take it.


    Buffett may be way ahead of the curve:

    Warren Buffett eats the same thing for breakfast every day—and it never costs more than $3.17

    https://www.cnbc.com/2018/04/18/warr...-point-17.html
    Last edited by KC; 19-04-2018 at 06:06 PM.

  14. #414

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    Of course "they" are willing to risk it. "They're" not the ones that would lose health care, medicare, social security and the rest of the social safety net.

  15. #415

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    14 States across the USA have hit record-low unemployment rates:

    http://thehill.com/homenews/state-wa...w-unemployment

  16. #416

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    Thanks Obama!
    Advocating a better Edmonton through effective, efficient and economical transit.

  17. #417

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    Trump threatens war with Iran and trade war with Europe. Dow down 500 points (2%).

  18. #418

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    Even more winning.

    Donald Trump’s Decision to Withdraw From the TPP Caused Harley Davidson Plant in Missouri to Close and Move to Thailand
    BY BRANDON GAGE APRIL 24, 2018



    Trump signed an executive order last year which ended American participation in the free trade agreement between the United States and 11 Asian nations negotiated and enacted by President Obama.


    Harley Davidson’s CEO Matt Levatich said building a Thai plant was a “plan B” in the event Trump pulled out of the TPP. The agreement “would have helped us a lot,” Levatich said.

    https://secondnexus.com/news/harley-...and-trump-tpp/

  19. #419

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    More winning - US unemployment rate is now the lowest it has been in 18 years:

    https://tradingeconomics.com/united-...mployment-rate

  20. #420

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    Quote Originally Posted by MrOilers View Post
    More winning - US unemployment rate is now the lowest it has been in 18 years:

    https://tradingeconomics.com/united-...mployment-rate
    That’s one of the key measures of success so can’t fault him on this. (Though rightly or wrongly I never give government or its employees much credit for such economic stats since they argue it both ways themselves - claiming credit for good news and blaming others saying conditions are beyond their control when bad news hits.). Moreover Trump himself didn’t credit Obama for the massive gains and lowering of unemployment through Obama’s duration in office.

  21. #421

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    Quote Originally Posted by MrOilers View Post
    More winning - US unemployment rate is now the lowest it has been in 18 years:

    https://tradingeconomics.com/united-...mployment-rate
    You know that several posters already rebuked this claim as a long term trend, not something that Trump turned around. Even if my dog was president for the past 1-1/2 years, employment would have hit this level. Nothing Trump says demonstrates any significant change beyond the statistical norms.




    BTW, Trump claimed several times that the real unemployment rate was 42% and now it is under 4%. WOW! UNBELIEVABLE!

    If you start adding it up, our real unemployment rate is 42%.
    Sure is...
    Advocating a better Edmonton through effective, efficient and economical transit.

  22. #422

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    So everything improving today is due to Obama? Wow. Is there anything that man can't do?

    How did Obama end the Korean war and get North Korea to denuclearize?

  23. #423

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    Did I even mention Obama?

    I was just showing a trend line. If you cannot understand trends, or analyze data, maybe you should learn something from my dog....

    Nice try to deflect by bring up an unassociated topic such as North Korea. As you know, Trump pompously boasted yesterday at the NRA God and Guns worship festival that it was entirely his doing. Never gave any credit to anyone other than himself. As if the South Korea leadership and China had many other factors including ongoing sanctions had nothing to do with it.

    I am too busy to post more because I am working in my garage casting the gold Nobel Peace Prize that Mr. Trump won yesterday...
    Last edited by Edmonton PRT; 05-05-2018 at 07:28 AM.
    Advocating a better Edmonton through effective, efficient and economical transit.

  24. #424

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    Obama engaged in massive deficit spending. Trump is continuing that style of governing.

    Anyone that has ever owned or worked for a private business or taken a high school level accounting course should understand that the unemployment reduction credit should go to The Federal Reserve and it’s ZIRP. Low interest rates play a far bigger role than all the tinkering any President can muster.

  25. #425

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    April was best month in history for U.S. budget, according to CBO figures



    The federal government took in a record tax haul in April en route to its biggest-ever monthly budget surplus, the Congressional Budget Office said, as a surging economy left Americans with more money in their paychecks — and this more to pay to Uncle Sam.


    All told the government collected $515 billion and spent $297 billion, for a total monthly surplus of $218 billion. That swamped the previous monthly record of $190 billion, set in 2001.


    CBO analysts were surprised by the surplus, which was some $40 billion more than they’d guessed at less than a month ago.


    Analysts said they’ll have a better idea of what’s behind the surge as more information rolls in, but for now said it looks like individual taxpayers are paying more because they have higher incomes.
    https://www.thefiscaltimes.com/2018/05/08/Record-Budget-Surplus-April
    Last edited by MrOilers; 10-05-2018 at 08:40 AM.

  26. #426

  27. #427

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    Quote Originally Posted by MrOilers View Post

    April was best month in history for U.S. budget, according to CBO figures



    The federal government took in a record tax haul in April en route to its biggest-ever monthly budget surplus, the Congressional Budget Office said, as a surging economy left Americans with more money in their paychecks — and this more to pay to Uncle Sam.


    All told the government collected $515 billion and spent $297 billion, for a total monthly surplus of $218 billion. That swamped the previous monthly record of $190 billion, set in 2001.


    CBO analysts were surprised by the surplus, which was some $40 billion more than they’d guessed at less than a month ago.


    Analysts said they’ll have a better idea of what’s behind the surge as more information rolls in, but for now said it looks like individual taxpayers are paying more because they have higher incomes.
    https://archive.fo/ALbhi
    One to follow. Try to grow faster than the carrying costs of ones debt is standard practice among all governments - socialist and capitalists alike. Trump is just doing what obama did before him - with added touch of large tax cuts not balanced by commensurate spending cuts. Think NDP here who cut small business tax rates.

  28. #428

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    Goldman: Something strange is happening with the US economy

    https://www.msn.com/en-us/money/savi...ump/ar-AAxgPHJ

  29. #429

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    Amazing how Trump was all after the Clinton Foundation as a pay-to-play scheme.

    Now we are finding out about a major pay-to-play scheme centered around his own lawyer, Michael Cohen.
    Advocating a better Edmonton through effective, efficient and economical transit.

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