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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 ever… 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.

  30. #430

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    Buffett says economy is feeling strong: 'If we're in the sixth inning, we have our sluggers coming to bat'

    https://www.cnbc.com/2018/06/07/buff...ng-strong.html

  31. #431
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    Default

    And yet the US government is running a record deficit. Weird.

  32. #432

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    And accelerating...

    The tax plan was supposedly tax neutral or even reduce the deficit.
    Advocating a better Edmonton through effective, efficient and economical transit.

  33. #433

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    What do you do when your tax cuts aren't working like you said they would? You lie, of course.

    Trump’s top economics adviser lies about ‘rapidly’ falling budget deficit
    There's just one problem.


    That Kudlow does not present the best economic arguments is not shocking. He recommended buying stocks in September 2008, denied the existence of the housing bubble in 2005, lauded the “Bush Boom” on the eve of the Great Recession, and argued that unemployment benefits make people not want to work (which is not true).


    He also said the war in Iraq would be a huge boon to the American economy, even though the trillions it added to the deficit (not to mention the tens of thousands of lives it cost) helped to put future administrations, including the one he helps to lead, in a situation where boosting the deficit with tax cuts is even more perilous thanks to trillions more in debt.

    https://thinkprogress.org/larry-kudl...-7f4c5caac6d5/

  34. #434

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    The U.S.' Colorblind Jobs Boom Under Trump Continues

    Inclusive' Boom: It may be a surprise, but President Trump is nowhere near as unpopular among minority voters as the biased mainstream media suggest. Why is that? In a word, jobs.


    Trump, it turns out, has been the most consequential president in history when it comes to minority employment. In June, for instance, the unemployment rate for Hispanics and Latinos 16 years and older fell to 4.6%, its lowest level ever, from 4.9% in May. The previous all-time low was 4.8%.


    African-American unemployment bounced up from its all-time low of 5.9% in May to 6.5% in June. But that 6.5% still represents the second-lowest unemployment reading ever for Black Americans.


    As for Asian-Americans, unemployment similarly bounced off its all-time low of 2.1% in May, rising to 3.2%. And that's still 0.6 percentage point lower than when Trump entered office.

    https://www.investors.com/politics/e...om-colorblind/

  35. #435

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    US farmers devastated by falling soybean costs due to Trump's tariff war.



    Current US soybean prices don't support farmers paying bills, says top industry official


    • A top American soybean industry official said Thursday that trade policies have "hurt" U.S. soybean prices, and he called the situation "very frustrating," even for supporters of President Donald Trump.
    • American Soybean Association CEO Ryan Findlay said China's retaliatory tariffs on U.S. beans are a major blow for producers because it's led to low prices that don't support farmers paying bills.
    • U.S. soybean futures have fallen nearly 20 percent since China announced on April 4 plans to slap a 25 percent tariff on 106 U.S. products, including American soybeans. The soybean tariff went into effect last week.





    https://www.cnbc.com/2018/07/12/fall...truggling.html

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  36. #436

    Default

    President Donald Trump has secured concessions from EU, averting a potential trade war


    The Europeans are lowering industrial tariffs

    EU agrees to buy more US soybeans

    https://www.cnbc.com/2018/07/25/trum...th-europe.html

    The Dow Jones had a huge jump once the news was announced

    I am starting to think that Trump knows exactly what he is doing.

  37. #437

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    Quote Originally Posted by MrOilers View Post
    President Donald Trump has secured concessions from EU, averting a potential trade war


    The Europeans are lowering industrial tariffs

    EU agrees to buy more US soybeans

    https://www.cnbc.com/2018/07/25/trum...th-europe.html

    The Dow Jones had a huge jump once the news was announced

    I am starting to think that Trump knows exactly what he is doing.
    He doesn’t care about reputation so yeah he knows that he can renegotiate every deal out there and get concessions. Short term gains but expect long term pain.

    Pity the next US president though because this is business more so than politics. And Trump never was a truly great businessman.


    “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.” Warren Buffett

    “Trust is like the air we breathe – when it's present, nobody really notices; when it's absent, everybody notices.” Warren Buffett

    “By the standards of the rest of the world, we overtrust. So far it has worked very well for us.” – CHARLIE MUNGER









    Trust Is a Must - business


    https://www.entrepreneur.com/article/55354
    Last edited by KC; 25-07-2018 at 04:00 PM.

  38. #438

    Default

    Quote Originally Posted by MrOilers View Post
    President Donald Trump has secured concessions from EU, averting a potential trade war

    The Europeans are lowering industrial tariffs

    EU agrees to buy more US soybeans

    https://www.cnbc.com/2018/07/25/trum...th-europe.html

    The Dow Jones had a huge jump once the news was announced

    I am starting to think that Trump knows exactly what he is doing.

    ... Juncker said that no new tariffs would be assessed as negotiations proceed. Yeah, right - just ask Canada and Mexico how well that worked for them on NAFTA negotiations.

  39. #439

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    Meanwhile, Trump proves that he really is the best and biggest...

    White House budget projects $1 trillion deficit in 2019

    The White House’s midyear budget projections see federal deficits surpassing $1 trillion in 2019.


    In an annual budget review, the White House’s Office of Management and Budget (OMB) estimated that new legislation enacted since the release of its February budget — alongside new projections on other spending and receipts — would add $101 billion more to the 2019 deficit, pushing it above $1 trillion.




    That figure would amount to 5.1 percent of the United States's gross domestic product, the nation’s total economic output.


    The midyear budget review was released quietly on Friday.


    Estimates from the nonpartisan Congressional Budget Office had forecast the deficit to near $1 trillion in 2019, but not pass it until 2020.

    http://thehill.com/homenews/administ...eficit-in-2019

  40. #440

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    Quote Originally Posted by Dave View Post

    ... Juncker said that no new tariffs would be assessed as negotiations proceed. Yeah, right - just ask Canada and Mexico how well that worked for them on NAFTA negotiations.
    Meanwhile...

    EU-US trade truce falters on Day 1 over farming

    His two most senior trade officials, however, soon enough insisted that all agricultural products (not just soybeans) should be part of the agreement — an anathema for the European Union.


    “It’s more than soybeans. All agricultural products are something that will be discussed [in the trade talks with the EU],” Commerce Secretary Wilbur Ross told Fox News on late Wednesday. “Soybeans was simply a very timely example of those [agricultural products],” he added.


    Trump’s chief trade enforcer, U.S. Trade Representative Robert Lighthizer, also demanded during a Senate hearing on Thursday that the EU deliver more. “Our view is we are negotiating about agriculture,” he told lawmakers. “That’s part of the project.”


    Brussels was quick to shoot down such suggestions. “Agriculture is not part of the scope of the talks,” an EU official told reporters on Thursday.


    “It’s clear that the U.S. side would’ve liked [it] but it has not been agreed, and Mr. Ross can say what he wishes but it doesn’t correspond” to the deal agreed, the official added. “There is no ambiguity in this regard.”

    https://www.politico.eu/article/eu-u...-over-farming/


  41. #441

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    Top Obama Economist: GDP Even Stronger Than It Looks | Breitbart

    https://www.breitbart.com/big-govern...than-it-looks/

  42. #442

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    Even if the economy is growing at 4.1% but the deficit is growing faster at double digits, you are not winning...

    http://jamiedupree.blog.ajc.com/2018...bama-deficits/




    @StevenTDennis
    The deficit under Trump will jump $420B a year from 2017-2019 according to the White House's new OMB projections.

    To put that in perspective, that delta is roughly equal to 2X the spending in the Affordable Care Act.

    It's a 63% increase in yearly red ink.

    Fact check: Trump touts ‘historic’ U.S. economy boom
    https://globalnews.ca/news/4357065/d...-canada-trade/
    Last edited by Edmonton PRT; 27-07-2018 at 07:35 PM.
    Advocating a better Edmonton through effective, efficient and economical transit.

  43. #443

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    Meanwhile, Donald Trump Jr. shows once again tat he's a liar.

    “Incredible numbers,” the president’s eldest son tweeted on Friday following the announcement of the strongest quarterly GDP growth in nearly four years. “I remember when ‘the experts’ laughed about breaking 3%. Just because Obama never broke 2% doesn’t mean that someone with great policies can’t. Let’s keep this going.”

    http://thehill.com/homenews/administ...-percent-under

  44. #444

    Default

    Many economists are studying the numbers and the strong growth may be due to farmers and manufacturers accelerating shipments and orders prior to the imposition of harmful tariffs. The real test will be what the next quarter results will be.
    Advocating a better Edmonton through effective, efficient and economical transit.

  45. #445

  46. #446

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    Say goodbye to your minuscule share of the tax cut. Hope you didn't spend it all in one place.

    Trump Plans to Announce $500 Tax on All American Households Today

    The White House, looking to ratchet up trade pressure on China, is expected to announced today that it is more than doubling the size of the proposed tariffs to 25% from 10% on $200 billion of Chinese imports, industry sources said.


    Well, let’s see: divide by four, carry the one….that’s a $50 billion tax on Chinese goods—and according to the Journal, that’s consumer goods like furniture, lamps, food and computers. That’s about $500 on every household in America.

    https://www.motherjones.com/kevin-dr...seholds-today/

  47. #447

    Default

    Quote Originally Posted by kkozoriz View Post
    Say goodbye to your minuscule share of the tax cut. Hope you didn't spend it all in one place.

    Trump Plans to Announce $500 Tax on All American Households Today

    The White House, looking to ratchet up trade pressure on China, is expected to announced today that it is more than doubling the size of the proposed tariffs to 25% from 10% on $200 billion of Chinese imports, industry sources said.


    Well, let’s see: divide by four, carry the one….that’s a $50 billion tax on Chinese goods—and according to the Journal, that’s consumer goods like furniture, lamps, food and computers. That’s about $500 on every household in America.

    https://www.motherjones.com/kevin-dr...seholds-today/
    It’s just a reversal. Prior to China’s arrival on the scene with its cheap labour in say the mid 1990s, products cost more and selection was far less but most people in America were doing ok. Actions like this will change the product mix, origins of production, etc. However the tariff money (dwindling) stays in their country and if the tariffs give domestic production a competitive edge then the sales value stays in the country. Sales of course should decline due to overall higher prices. Less consumerism and less materialism in the end. However, such subsidized, protected favouritism should enable otherwise inefficient companies to start up, create jobs, attract capital, etc.

  48. #448

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    Suckers.

    Trump Claims His Tariffs Will Pay Down Debt—After He Drove Up Deficits With a Billionaire Tax Cut
    Trump’s tax cut will cost nearly $2 trillion over the next decade. Tariffs won’t even come close to fixing that.


    The Washington Post estimates that Trump’s tariffs on $85 billion of foreign goods will raise about $21 billion at most, or about 0.1 percent of the current national debt. Trump has also pledged $12 billion to help farmers who are being hurt by his protectionism, further reducing any potential savings. But at the same time, the tariffs are raising production costs for American companies. That will either lead to lower profits or higher costs for consumers.


    The tax cut Trump signed into law in December is now expected to increase US debt by about $1.9 trillion between 2018 and 2028. That is about $433 billion more than the Congress’ Joint Committee on Taxation projected before the tax bill became law. (Trump administration officials repeatedly claimed without evidence that the tax bill would pay for itself.)


    Most of the new deficit spending will benefit the wealthiest Americans. In 2025, when the tax cuts are in full effect, the top 20 percent of Americans will get two-thirds of the tax cuts, according to the nonpartisan Tax Policy Center. The top 1 percent alone will get 25 percent of the tax cuts, which works out to $61,090 per taxpayer in the top 1 percent on average. Those in the top 0.1 percent will get $252,300 on average. The average middle class taxpayer, meanwhile, will get about $900.

    https://www.motherjones.com/politics...cut-trade-war/

  49. #449

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    So much winning!

    South Carolina TV manufacturing plant closes — and says Trump’s tariffs are to blame



    "A manufacturing plant in South Carolina recently announced that it’s completely closing down in large part thanks to President Donald Trump’s tariffs on foreign steel and aluminum.


    According to South Carolina’s The State, local manufacturer Element Electronics is laying off 126 employees and is shuttering its plant in the town of Winnsboro, South Carolina."

    https://www.rawstory.com/2018/08/sou...tariffs-blame/

  50. #450

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    Conservative writer calls for Republicans to be voted out over tax lies & debt.

    A leading conservative just exposed the GOP’s ludicrous hypocrisy on government spending

    In a new op-ed on Friday, conservative writer Jennifer Rubin with the Washington Post denounced the party’s utter hypocrisy on government spending.


    “Let’s remember Republicans promised — swore up and down — that the cuts would pay for themselves,” she wrote. “This was categorically false, obviously so at the time. Sens. Mitch McConnell (R-Ky.), Susan Collins (R-Maine) and others who made this ludicrous assertion should be held accountable — and voted out of office.”


    She notes that a new Congressional Budget Office report shows that under GOP policies, “the debt is mushrooming.”


    And there’s no surprise about why: “Congress shrunk revenue while spending is expanding.”

    https://www.rawstory.com/2018/08/lea...ment-spending/

  51. #451

    Default

    Workers in the USA are doing the best they have in a long time. Facts to back that up:



    155,965,000 Employed in June: 11th Record-Setter Under Trump

    https://www.cnsnews.com/news/article...er-under-trump



    Worker pay rate hits highest level since 2008

    https://www.cnbc.com/amp/2018/07/31/...ince-2008.html

  52. #452
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    U.S. budget deficit this year already 21% higher than last year

    The Treasury Department reported Friday that in the first 10 months of this budget year:
    • The deficit totaled $684 billion, up 20.8 percent from the same period last year.
    • Revenues are up only 1 percent this year, the increase held back by a big drop in corporate tax payments.
    • Spending is up 4.4 percent, reflecting a big boost Congress approved earlier this year for domestic and military programs and the rising costs of financing the debt.
    For the current budget year, which ends Sept. 30, the administration is now projecting a deficit of $890 billion. That would be up 33.7 percent from last year's deficit of $665.8 billion.
    The only other period when the federal government ran deficits above $1 trillion was for four years from 2009 through 2011. That's when the Obama administration was using tax cuts and increased spending, along with support for the banking system, to combat the 2008 financial crisis and Great Recession, the worst economic downturn since the Great Depression of the 1930s.
    Turns out tax cuts for the wealthy don't help your deficit, who would have thought. If this is the deficit during good times, what happens if the economy turns?

  53. #453

    Default

    Yeah, damn those living wages and human rights. If we got rid of all that nonsense, we could take on China and India head on! Join the fight for $0.15 an hour!

    "Taxes too high, wages too high, we're not going to be able to compete against the world ... People have to go out, they have to work really hard, and they have to get into that upper stratum." - Donald Trump, Nov. 10, 2015

    'Bikers for Trump' founder says he sells Trump shirts made in Haiti because American-made products are too expensive

    The founder of “Bikers for Trump” said he sells pro-Trump T-shirts made in Haiti because American-made products are too expensive.


    “If I get a T-shirt made in the USA, it’s going to cost about $8 more,” Chris Cox told The New York Times. “I looked far and wide to try to get a shirt made in America, it’s just they get you, they gouge you.”

    http://thehill.com/blogs/blog-briefi...-made-in-haiti

  54. #454

    Default

    Making America Great Again???

    Donald Trump backs boycott of Harley-Davidson in steel tariff dispute
    http://mobile.abc.net.au/news/2018-0...02?pfmredir=sm

    US President Donald Trump has backed boycotting American motorcycle manufacturer Harley-Davidson, the latest salvo in a dispute between the company and Mr Trump over tariffs on steel.
    The Wisconsin-based motorcycle manufacturer announced a plan earlier this year to move production of motorcycles for the European Union from the United States to its overseas facilities to avoid the tariffs imposed by the trading bloc in retaliation for Mr Trump's duties on steel and aluminium imports.

    In response, Mr Trump has criticised Harley-Davidson, calling for higher, targeted taxes and threatening to lure foreign producers to the United States to increase competition.

    "Many @harleydavidson owners plan to boycott the company if manufacturing moves overseas. Great! Most other companies are coming in our direction, including Harley competitors. A really bad move! U.S. will soon have a level playing field, or better," Mr Trump tweeted.
    Mr. Trump, just were in the USA did you get you line of suits and ties made?

    Last edited by Edmonton PRT; 12-08-2018 at 07:01 PM.
    Advocating a better Edmonton through effective, efficient and economical transit.

  55. #455

    Default

    August economic news - US wages increase unexpectedly by the highest amount they have since the end of the recession, more jobs were added in August than forecast, and unemployment has dropped to its lowest since 1969.

    U.S. Wage Gains Pick Up to 2.9% While Payrolls Rise 201,000

    American wages unexpectedly climbed in August by the most since the recession ended in 2009 and hiring rose by more than forecast, keeping the Federal Reserve on track to lift interest rates this month and making another hike in December more likely.


    Average hourly earnings for private workers increased 2.9 percent from a year earlier, a Labor Department report showed Friday, exceeding all estimates in a Bloomberg survey and the median projection for 2.7 percent. Nonfarm payrolls rose 201,000 from the prior month, topping the median forecast for 190,000 jobs, after a downwardly revised 147,000 advance. The unemployment rate was unchanged at 3.9 percent, still near the lowest since the 1960s.

    https://www.bloomberg.com/news/artic...9?srnd=premium

  56. #456

    Default

    US 2.9 percent wage growth, GREAT!

    US 2.9 percent inflation rate, NOT GOOD!

    American Worker NET wage gain, ZERO!

    BTW, how is Trump's easy and affordable health care plan coming along?

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

  57. #457

    Default

    The article states that Obamacare premium rate hikes were lower than predicted as well.

    But you must've read that part. (you didn't)

  58. #458

    Default

    But there were still rate hikes of 3.6 percent average increase in proposed or approved premiums. That means rates are still growing faster than incomes.

    But you must've read that part. (you didn't)

    Trump Universal Healthcare?




    Last edited by Edmonton PRT; 07-09-2018 at 10:17 AM.
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  59. #459

    Default

    Yup, and that's why Trump wants to replace Obamacare. It's completely unsustainable. The people who passed it didn't even read it before voting on it.

  60. #460

    Default

    So where is the Trump universal healthcare plan? Please provide evidence.
    Advocating a better Edmonton through effective, efficient and economical transit.

  61. #461

    Default

    Stop trying to change the subject.

    The US economy is doing very well and jobs and wages in the USA are improving. Can't dispute that.

  62. #462

    Default

    Just dont get sick or injured!

  63. #463
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    Default

    Quote Originally Posted by MrOilers View Post
    Stop trying to change the subject.

    The US economy is doing very well and jobs and wages in the USA are improving. Can't dispute that.
    changing the subject? if you have to pay for something out of what you earn or bear the consequences of not having it, how is the cost of that something a different subject?

    yes, by most measures - particularly the short term ones - the us economy is doing well.

    jobs and wages? there's a great deal of dispute - most of it substantiated - that says they're not actually improving, particularly on a net/take home basis when you account for related things like healthcare and taxes and education.
    "If you did not want much, there was plenty." Harper Lee

  64. #464

    Default

    Quote Originally Posted by Medwards View Post
    Just dont get sick or injured!
    I agree. I think everyone should try not to.

  65. #465

    Default

    Quote Originally Posted by MrOilers View Post
    Quote Originally Posted by Medwards View Post
    Just dont get sick or injured!
    I agree. I think everyone should try not to.
    At least in Canada you wont go bankrupt should you get sick or injured.

  66. #466

    Default


    The US is dead broke and the tax bill does nothing to help matters

    BY LAURENCE KOTLIKOFF, OPINION CONTRIBUTOR — 12/21/17

    “...
    Thus, our long, acrimonious debate about the size of the extra deficit associated with the tax bill missed the point. Given the projections, we didn’t need a tax bill that was revenue neutral, at best, or one that grew the economy as fast as the debt, at worst. We needed a tax bill that raised federal revenues dramatically — by roughly 60 percent!

    Yes, you read that right. Unless we want
    to sharply cut Social Security, Medicare, Medicaid and all other government spending, we have no option but to raise taxes.

    Why so much? The answer, in large part, is the need to pay retirement and healthcare benefits to the massive Baby Boomer generation. Ten thousand of my fellow Baby Boomers are retiring every day. When we Boomers retire, we head straight for the local Social Security office to start collecting our monthly checks and sign up for Medicare. If we need expensive nursing, we sign up for Medicaid once our savings are exhausted.

    Unfortunately, most Baby Boomers haven’t saved enough and are sorely dependent on Uncle Sam’s old-age support. This isn’t entirely our fault. We’ve had to fork over roughly 15 percent of our pay to cover benefits promised to our parents.
    ...”

    “The S2 indicator for the U.S. is 10 percent, i.e., Uncle Sam needs to raise taxes by 10 percent of each future year’s GDP or cut spending by 10 percent of each future year’s GDP to eliminate its fiscal gap. (Note, federal revenues are 17 percent of GDP, and 10 divided by 17 is close to 60 percent. Federal outlays are 21 percent of GDP, and 10 divided by 21 is close to 47 percent.)

    In short, our country is dead broke. The tax bill did nothing to address this. It leaves a fiscal Sword of Damocles hanging over our children’s economic futures.

    Congratulations to the bill’s supporters. ”


    http://thehill.com/opinion/finance/3...-matters-worse
    Laurence Kotlikoff:


    “While the United States' official debt is $20 trillion, the fiscal gap is really 10 times larger — $200 trillion. That comes from adding in off-the-book liabilities, including debt that's in the Federal Reserve's hands, Kotlikoff said.

    The entire U.S. fiscal operation is 52 percent underfunded, according to Kotlikoff. Social Security is short by 32 percent, he said.

    "It's not like the rest of the fiscal operation can bail out Social Security," Kotlikoff said. "So when you look at these numbers, you realize we're Argentina in 1910."

    ...

    "You have to be aware of this looming problem and save like crazy and work as long as possible," Kotlikoff said.

    ...

    https://www.cnbc.com/amp/2018/09/08/boston-university-economics-professor-laurence-kotlikoff-wants-to-change-your-retirement.html?recirc=taboolainternal#amp_tf=From %20%251$s



    The Purple Plans

    Dear Fellow Economists and Concerned Citizens,

    As you know, our country is at a critical juncture. Growth has slowed to a crawl. Fourteen million Americans are unemployed, and three million have stopped looking for work. We are saving nothing and investing next to nothing.

    Last year's national saving rate was 0.1 percent, and our net domestic investment rate was 4.4 percent. Saving nothing means we have nothing to invest in our country. Those investing in our country are foreigners, which explains our huge current account deficit. It's easy to blame foreigners for our problems, but without their investment, our net domestic investment rate would also be 0.1 percent.

    Most Americans have experienced no growth in their real take home pay in decades. Those who are doing well are doing better, with income and wealth growing more unequal over time. And our government is broke.
    Based on the Congressional Budget Office's latest projections, the fiscal gap separating the present value of projected non-interest spending plus the official debt and the present value of projected taxes totals $211 trillion.

    This is the mountain of obligations we ignore while focusing on the $10.3 trillion "molehill" of official debt held by the public. Decades of Enron-style accounting has permitted both parties to keep the vast majority of the government's debts off the books.

    Our fiscal gap is 14 times GDP -- a larger ratio than prevails in Greece or, it appears, any other developed country. Eliminating the fiscal gap without structural reform would require either an immediate and permanent 64 percent increase in all federal taxes or a 40 percent cut in all federal non-interest spending. Delaying such adjustments leaves an even bigger bill for our children.

    We need...”

    https://purpleplans.org/



    Bolding is mine
    Last edited by KC; 09-09-2018 at 09:48 PM.

  67. #467

    Default

    US Small business optimism surges to highest level ever, topping previous record under Reagan

    U.S. small business optimism surged to a record in August as the tax cuts and deregulation efforts of President Donald Trump and the Republican-led Congress led to more sales, hiring and investment, according to a survey by the National Federation of Independent Business.

    https://www.cnbc.com/2018/09/11/smal...hest-ever.html

  68. #468

    Default

    Yet people still love Trump.



    “Macklem is stunned the U.S. cut taxes and increased spending when the economy already was doing well.”


    https://business.financialpost.com/n...just-dumb-luck

  69. #469

    Default

    Back in 2008, the US banks were rated 44th in the World.
    Britain was 48th.
    Canada was number 1
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  70. #470
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    ^^What's not to love about cutting taxes while keeping spending high? Until now, the United States has never had to pay any real price for its fiscal recklessness. Probably has a lot to do with the US dollar's status as the world's main reserve currency. To this point investors seems more than willing to continue buying US treasuries.

    Can this fiscal recklessness continue indefinitely? Who knows but the rate at which the US federal government continues to pile new debt on top of old debt is rather astonishing. At some point the piper will likely want to be paid but until then...

    The federal budget deficit was $895 billion for the first 11 months of fiscal year 2018, the Congressional Budget Office estimates, $222 billion more than the shortfall recorded during the same period last year. Revenues were 1 percent higher than in the same period in fiscal year 2017, but outlays rose by about 7 percent.
    https://www.cbo.gov/system/files?fil.../54442-MBR.pdf

  71. #471

    Default

    ^ You won't be hearing anything about that on Faux and Fiends...
    Advocating a better Edmonton through effective, efficient and economical transit.

  72. #472

    Default

    Quote Originally Posted by East McCauley View Post
    ^^What's not to love about cutting taxes while keeping spending high? Until now, the United States has never had to pay any real price for its fiscal recklessness. Probably has a lot to do with the US dollar's status as the world's main reserve currency. To this point investors seems more than willing to continue buying US treasuries.

    Can this fiscal recklessness continue indefinitely? Who knows but the rate at which the US federal government continues to pile new debt on top of old debt is rather astonishing. At some point the piper will likely want to be paid but until then...

    The federal budget deficit was $895 billion for the first 11 months of fiscal year 2018, the Congressional Budget Office estimates, $222 billion more than the shortfall recorded during the same period last year. Revenues were 1 percent higher than in the same period in fiscal year 2017, but outlays rose by about 7 percent.
    https://www.cbo.gov/system/files?fil.../54442-MBR.pdf
    See post # 466 above.

    Also China and others have piles of US dollars.

    They have to use them to buy things for which people will accept payment in US dollars.($3 trillion or so)

    However don’t expect China to buy massive amounts of disposable goods made by the USA - unless it serves a higher purpose. I could see it boosting US sales enough to help Trump, if they want to help Trump.

    With $3 trillion though, expect them to be very strategic with them over future decades plus if they project rough times are ahead for the US they’d likely pursue careful purchases of hard assets like real estate and buy investments that provide a decent return. If the investments are USD then expect them to focus on those that will protect them from a falling dollar.
    Last edited by KC; 17-09-2018 at 06:43 PM.

  73. #473

    Default

    ‘I support higher taxes’: The billionaire behind the National Debt Clock has had it with Trump - The Washington Post

    https://www.washingtonpost.com/busin...it-with-trump/

  74. #474

    Default

    Quote Originally Posted by kkozoriz View Post
    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/


    Warren Buffett on Trump and big debts:



    Warren Buffett nailed why Donald Trump's businesses failed in a lecture 25 years ago
    Julia La Roche
    Yahoo FinanceJune 21, 2016





    Here’s what Buffett said about the now-presumptive Republican nominee twenty-five years ago:

    “Buffett blamed Trump’s use of leverage, or borrowed money.

    “He simply got infatuated with how much money he could borrow, and he did not give enough thought to how much money he could pay back,” Buffett said.

    In 1991, The Trump Taj Mahal, an Atlantic City casino that opened the year prior, filed for Chapter 11 bankruptcy protection. A year later, The Trump Plaza Hotel would also file for bankruptcy protection. “

    “...

    Where did Donald Trump go wrong?

    “The big problem with Donald Trump was he never went right. He basically overpaid for properties, but he got people to lend him the money. He was terrific at borrowing money. If you look at his assets, and what he paid for them, and what he borrowed to get them, there was never any real equity there. He owes, perhaps, $3.5 billion now, and, if you had to pick a figure as to the value of the assets, it might be more like $2.5 billion. He’s a billion in the hole, which is a lot better than being $100 in the hole because if you’re $100 in the hole, they come and take the TV set. If you’re a billion in the hole, they say ‘hang in there Donald.’ “


    http://finance.yahoo.com/news/warren...134008040.html
    Last edited by KC; 01-10-2018 at 08:50 PM.

  75. #475

    Default

    Dow increased and closed at a new record high today.

  76. #476

    Default

    Federal Reserve Chairman says that the US economy has a "remarkably positive outlook"

    Federal Reserve Chairman Jerome Powell sees the U.S. economy generating highly optimistic expectations, with the unusual combination of low unemployment and inflation fueling hopes for an extended expansion.

    In a speech Tuesday, the central bank chief said the jobless rate is running at 3.9 percent and inflation is around the Fed's goal of 2 percent. Historically, low unemployment has fueled inflation and sometimes has forced the Fed into hiking interest rates rapidly.


    "While these two top-line statistics do not always present an accurate picture of overall economic conditions, a wide range of data on jobs and prices supports a positive view," Powell told economists at a Boston conference. "In addition, many forecasters are predicting that these favorable conditions are likely to continue."
    https://www.cnbc.com/2018/10/02/feds...r&par=sharebar

  77. #477

    Default

    Thank you Mr. President for saving the economy from collapse and putting sound fiscal planning into action to create years of steady growth.

    We miss you Barack...

    The guy that replaced you is such an *****.
    Advocating a better Edmonton through effective, efficient and economical transit.

  78. #478

    Default

    Quote Originally Posted by MrOilers View Post
    Dow increased and closed at a new record high today.
    Yes, I believe it has done that before.

    Dow has become a crappy index.
    SPTR is a better one to follow.

  79. #479
    Addicted to C2E
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    Quote Originally Posted by MrOilers View Post
    Dow increased and closed at a new record high today.
    true but for all the wrong reasons... the us economy has been clipping along at a pace more than twice what was forecast and more than twice any other economy in the world. unfortunately it’s for all the wrong reasons. the amount of stimulus being pumped out daily in terms of monetary and fiscal policies is staggering, everything from effectively net negative interest rates to spending to tax cuts (not all of which are bad) including 100% first year depreciation for capital investment and one time capital repatriation etc. are all inflating the balloon. the only reason there isn’t accompanying inflation which would typically slow this down is the effective lack of any real wage gains and salary growth (primarily due to demographics with fewer entering the work force and older workers working longer with less demands for more money). the problem is that in another year or two when things start to slow - and they always do, we are the tail end of the longest sustained growth cycle ever experienced, although partly because it’s been long but not particularly strong, it because they’re having good leadership - the us will have few tools left to balance those recessionary pressures because they will have already been squandered to little long-term benefit. so go ahead, keep on blowing that horn...
    "If you did not want much, there was plenty." Harper Lee

  80. #480

    Default

    So much winning.

    Ford Plans Layoffs After $1 Billion Trump Tariff Hit
    Some 12 percent of Ford workers worldwide could be out of a job.

    Ford Motor Company is reportedly preparing to initiate major layoffs after suffering a blow to profits of at least $1 billion due to tariffs enacted by President Donald Trump.


    The nation’s largest automaker hasn’t yet revealed how many workers will be affected. But a report by Morgan Stanley estimated that as many as 12 percent of the company’s 202,000 workers worldwide could be cut, NBC reported.


    Layoffs will center on Ford’s 70,000-strong white-collar workforce as part of what the company is calling a “redesign” of its staff in an ongoing $22.5 billion reorganization, according to NBC.


    Trump’s tariffs and the retaliatory tariffs they triggered are taking a toll on the U.S. auto industry.


    Ford CEO Jim Hackett told Bloomberg last month that tariffs on imported aluminum and steel alone dealt a blow to company profits.


    “From Ford’s perspective the metals tariffs took about $1 billion in profit from us,” Hackett said. “The irony of which is we source most of that in the U.S. If it goes on any longer, it will do more damage.”

    https://www.huffingtonpost.ca/entry/...b01470d05445e5


  81. #481

    Default

    Sounds like Ford has to close down some of their overseas and foreign country operations and rebuild them in America.

    That's indeed a win for Trump!

  82. #482

    Default

    What part of massive layoffs, lost profits due to Trump's tariffs and closing of plants don't you understand. Somehow in your incredibly warped perspective you see this as a win. There was not one positive message in the news about Ford.

    Many Canadian Ford employees may be cut and the ripple effect in the parts suppliers and related companies will negatively affect our economy. There is no indication that Ford will repatriate any operations back to the US.

    Your spin doctoring is clearly false. Obama saved Ford in 2008. Therefore Trump has to undo whatever he did with no regard for the consequences and the jobs lost in 2018.

    If Ford is hurt by the tariffs, so is Chrysler and GM let alone all the other US auto plants like Honda, Toyota and Subaru. Auto prices are going way up and that will lead to lower sales and more closed plants.

    Then there are tens of thousands of other companies that use aluminum and steel that are also seeing massive cost increases.

    No one wins a trade war and Trump started this one. Tariffs are a tax. They are counter to the GOP mantra of no new taxes and less government interference. They are harmful to the economy. The effects are all negative so this is not a win for Trump by any measure.

    It is a lose, lose, lose proposition.
    Last edited by Edmonton PRT; 11-10-2018 at 06:20 AM.
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  83. #483
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    Quote Originally Posted by MrOilers View Post
    Sounds like Ford has to close down some of their overseas and foreign country operations and rebuild them in America.

    That's indeed a win for Trump!
    Are you serious?

    Wait, don't answer that, you'll just embarass yourself.

  84. #484

    Default

    Like a bunch of thoughtless bots, we once again we see the perfectly predictable pre-programmed responses from the left.

    "Trump bad"

    "You dumb"

    "(Insert insulting name here)"

  85. #485

    Default

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

  86. #486

    Default

    ^^ It's pretty clear that you didn't read the article. Ford is saying that the steel and aluminum tariffs are making costs go up on domestic production, and they're already using mostly domestic steel.

    That steel and aluminum tariffs may now be higher than tariffs on completed cars from korea or Europe so Trump's really creating an incentive to manufacture elsewhere.
    Last edited by Highlander II; 11-10-2018 at 11:07 AM.
    There can only be one.

  87. #487

    Default

    Quote Originally Posted by MrOilers View Post
    Like a bunch of thoughtless bots, we once again we see the perfectly predictable pre-programmed responses from the left.

    "Trump bad"

    "You dumb"

    "(Insert insulting name here)"

    It depends on one’s perspective. Open, free trade leads to increasing specialization and maximizing net wealth importation into a country. It discards “inefficient” industries (or rather non-competitive industries). It can increase the velocity of money and create jobs in the remaining successful comparative advantage industries. However, without great cross-border mobility of labour it can strand workers in a country that no longer needs their skills because of a failure to compete successfully with industry in another country. (Lots of factors. FX rates can be set by factors having nothing to do with many industry transaction so an otherwise competitive industry can fail because its costs are driven up by the actions of other sectors in the same country, hidden regulatory barriers can help or hinder competition, domestic market size and loyalty to one’s own country’s goods can give larger countries impenetrable advantages like economies of scale etc.), public programs can insurance-pool and so reduce export businesses costs by spreading the risk among domestic-only sectors..)

    Protectionism can work in favour of various interests and create various benefits for a country. That’s why every country engages in it to some extent.

    It’s also a pretty much socialist concept. Government decides what’s best, not the corporation.

    Similarly the central banks are essentially tools of government interference in free market dynamics with various top down mandates to be met through manipulation of interest rates reserve ratios, indirect bailouts etc.
    Last edited by KC; 11-10-2018 at 11:39 AM.

  88. #488

    Default

    Trump's tariffs are the reason that Harley Davidson is moving some of their production to Europe.

  89. #489
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    Quote Originally Posted by Edmonton PRT View Post
    What part of massive layoffs, lost profits due to Trump's tariffs and closing of plants don't you understand. Somehow in your incredibly warped perspective you see this as a win. There was not one positive message in the news about Ford.

    Many Canadian Ford employees may be cut and the ripple effect in the parts suppliers and related companies will negatively affect our economy. There is no indication that Ford will repatriate any operations back to the US.

    Your spin doctoring is clearly false. Obama saved Ford in 2008. Therefore Trump has to undo whatever he did with no regard for the consequences and the jobs lost in 2018.

    If Ford is hurt by the tariffs, so is Chrysler and GM let alone all the other US auto plants like Honda, Toyota and Subaru. Auto prices are going way up and that will lead to lower sales and more closed plants.

    Then there are tens of thousands of other companies that use aluminum and steel that are also seeing massive cost increases.

    No one wins a trade war and Trump started this one. Tariffs are a tax. They are counter to the GOP mantra of no new taxes and less government interference. They are harmful to the economy. The effects are all negative so this is not a win for Trump by any measure.

    It is a lose, lose, lose proposition.

    How did Obama save Ford?

  90. #490

    Default

    As someone once said, "It's the economy stupid."

    Ford benefited directly and indirectly through the Obama Administration's reorganization and stabilization of both the auto makers and restructuring of the banking system which prevented a depression that would have hurt Ford sales further. Rebuilding the economy saved jobs and increased spending power that helped all automakers sell cars.

    https://www.politifact.com/truth-o-m...bile-industry/
    Advocating a better Edmonton through effective, efficient and economical transit.

  91. #491

    Default

    Good summary here - Government to the rescue:

    Auto Industry Bailout (GM, Chrysler, Ford)

    https://www.thebalance.com/auto-indu...rysler-3305670

  92. #492
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    Good article KC.

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