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trump was failing before Covid-19

Walt

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trump inherited the longest economic expansion in American history. It was not the most rapid, far from it, but does the average American really want the most rapid? Most Americans would prefer a decade of 2.5% growth than a four years of 3.5% growth, one year of -2% growth, four years of 3.5% growth, one year of -2% growth.

trump promised to push the economy to grow more. he introduced who deficits into a growing economy, which is odd, and strongly incentivised not keeping cash-on-hand. We got more 2.5% growth, but were paying a lot more for it.

If companies do not have cash-on-hand, they go to repo market to borrow money with very secure securities. In September of 2019, the repo market failed. No one had liquid cash, and the September corporate tax bill was coming due. Almost every major company in America was technically bankrupt, unable to pay their bills. That had never happened before. It was a market failure of epic proportions.

But oddly simple to solve... In a dangerous way. The Fed printed money and distributed it to companies through the repo market. It was not exactly quantitative easing, which is meant to fight deflation, but rather a desperate attempt to give companies money to keep them from going bankrupt. The Fed had to give up caring about inflation or deflation.

There was a slow crash from September to February, when we officially slipped into recession. That was all before Covid-19 was an economic issue. We can only guess what would have happened during that recession, because the Covid-19 global depression hit right after it.
 

Oborosen

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trump inherited the longest economic expansion in American history. It was not the most rapid, far from it, but does the average American really want the most rapid? Most Americans would prefer a decade of 2.5% growth than a four years of 3.5% growth, one year of -2% growth, four years of 3.5% growth, one year of -2% growth.

trump promised to push the economy to grow more. he introduced who deficits into a growing economy, which is odd, and strongly incentivised not keeping cash-on-hand. We got more 2.5% growth, but were paying a lot more for it.

If companies do not have cash-on-hand, they go to repo market to borrow money with very secure securities. In September of 2019, the repo market failed. No one had liquid cash, and the September corporate tax bill was coming due. Almost every major company in America was technically bankrupt, unable to pay their bills. That had never happened before. It was a market failure of epic proportions.

But oddly simple to solve... In a dangerous way. The Fed printed money and distributed it to companies through the repo market. It was not exactly quantitative easing, which is meant to fight deflation, but rather a desperate attempt to give companies money to keep them from going bankrupt. The Fed had to give up caring about inflation or deflation.

There was a slow crash from September to February, when we officially slipped into recession. That was all before Covid-19 was an economic issue. We can only guess what would have happened during that recession, because the Covid-19 global depression hit right after it.

...I take it, economics wasn't your best course.
 

RabidAlpaca

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It was fascinating to watch the raving tea party and economic conservative lunatics spend 8 years whining about consistent, non-stop growth then the day Trump enters office turn on a dime and start talking about how incredibly amazing the economy instantly became.

The last 4 years, even pre-covid, have been an economic roller coaster and there's no metric anyone can point to that was better than under Obama's tenure. Now post-covid since the economy is in shambles, the Trump cultists have began shouting that the president is merely a powerless figurehead with no influence over the economy, so none of this could possible be his fault!

I fully expect them to flip again when President Biden enters office.

...I take it, economics wasn't your best course.

Have you ever in your 3 years here at DP actually engaged the topic of the OP or attempted to make some kind of on-topic rebuttal?
 

Oborosen

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It was fascinating to watch the raving tea party and economic conservative lunatics spend 8 years whining about consistent, non-stop growth then the day Trump enters office turn on a dime and start talking about how incredibly amazing the economy instantly became.

The last 4 years, even pre-covid, have been an economic roller coaster and there's no metric anyone can point to that was better than under Obama's tenure. Now post-covid since the economy is in shambles, the Trump cultists have began shouting that the president is merely a powerless figurehead with no influence over the economy, so none of this could possible be his fault!

I fully expect them to flip again when President Biden enters office.



Have you ever in your 3 years here at DP actually engaged the topic of the OP or attempted to make some kind of on-topic rebuttal?

...and now I take it that history wasn't your best course, huh Rabid?

Then again, to answer your question. I don't really actively engage in threads that are just started, so someone can continue crying about Trump. Because it's not like this thread was actually started for any reason other then that.

I just chimed in, because if they're going to take the time to make a thread that cries about Donald Trump. Then I'm going to at least take the time to call it out.
 

RabidAlpaca

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...and now I take it that history wasn't your best course, huh Rabid?

Then again, to answer your question. I don't really actively engage in threads that are just started, so someone can continue crying about Trump. Because it's not like this thread was actually started for any reason other then that.

I just chimed in, because if they're going to take the time to make a thread that cries about Donald Trump. Then I'm going to at least take the time to call it out.

This is your second time posting in this thread without offering any on topic opinion of your own or trying to counter any points anyone else made. Why are you here if it's not to debate? Is it only about the lazy gaslighting? Are you unable to express any coherent thoughts?
 

Walt

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...I take it, economics wasn't your best course.

So you have no rebuttal?

The facts are the facts. Maybe you could argue that trump's recession would not have been that bad without the Covid-19 global depression. There is really not a strong argument either way on that.

So much about recent economics is just uncharted territory, and trump's recession is like nothing we have ever seen before, it becomes impossible to predict what will happen. Never has almost all the companies in America gone technically nearly bankrupt at once. Never have we seen negative oil prices. Never... The whole thing is weird, uncharted failure.
 
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