We Are Heading Into A Bottomless Pit

[CLAX1911]

You continue to be uninformed and unwilling to research facts and learn



He is as incompetent at being an economist as Trump is at being President!

So he's not really incompetent. Okay.

 

[RAMOSS]

So he's not really incompetent. Okay.

No, Trump is quite incompetent, except on self promotion.

 

[calamity]

Well, I've owned multiple businesses employing 100's of employees. I've had a life full of experiences and success. I know what works, and what doesn't.

And based on all that, you are wrong.

Owning “multiple” businesses isn’t exactly proof that someone “knows what works.” It indicates the opposite.

 

[CLAX1911]

No, Trump is quite incompetent, except on self promotion.

I disagree.

 

[RAMOSS]

I disagree.

You have the right to be wrong.

 

[ocean515]

With your vast knowledge, perhaps you can explain this?

Sure. Profit taking. The Stock Market is not the economy. It's just a game where people trade paper at negotiated values.

All the President has to do is say he has won the concessions he was working for from China and others, and end the increased tariffs.

What do you think would happen then?

I know the folks pushing doomsday nonsense would implode, as the stock market responded upward.

It takes a certain type of fool to believe the President is going to let responses to tariffs continue into the election year.

 

[Mycroft]

Are you being ironic? Fox is nothing but hateful rhetoric.

I don't care about Fox. The opinion I'm pointing out is from Navarro. He didn't say anything hateful. He presented facts, analysis and opinion.

 

[ocean515]

Owning “multiple” businesses isn’t exactly proof that someone “knows what works.” It indicates the opposite.

LOL

Like you know anything of value.

Just for giggles, how does owning multiple businesses mean someone knows less about what works?

Splain that Ricky.

 

[CLAX1911]

You have the right to be wrong.

I'm not wrong.

 

[CLAX1911]

LOL

Like you know anything of value.

Just for giggles, how does owning multiple businesses mean someone knows less about what works?

Splain that Ricky.

Because Trump is.... That's racist

 

[RAMOSS]

I'm not wrong.

How's the deficit coming?

Oh, isn't it nice the North Korea stopped all those missile tests, just because Trump asked them to?

And, isn't it nice that folks can be fired for being gay again?

 

[CLAX1911]

How's the deficit coming?

Oh, isn't it nice the North Korea stopped all those missile tests, just because Trump asked them to?

And, isn't it nice that folks can be fired for being gay again?

Lower taxes are really nice. Cutting spending would be better but I'll take what I can get.

 

[Torus34]

Your example was not the case with the Roman Empire.........it collapsed never to return. Here are some of the causes of that collapse. Find anything that compares?

Hi! I've read my Gibbons, thank you.

That the United States of America will, some day, pass from the scene's a given. One can invoke a meteor too, I suppose.

Regards.

 

[calamity]

LOL

Like you know anything of value.

Just for giggles, how does owning multiple businesses mean someone knows less about what works?

Splain that Ricky.

It’s like saying someone with multiple wives knows what makes relationships work. Oh that’s right, the stable genius has that on his resume to.

 

[Luckyone]

I admit that I can't analyze what doesn't exist. That's why I asked for your math.

History doesn't exist????

Perhaps you should do a study on what prolonged the Great 1929 Depression............it was the Trade War!

The president’s new trade barriers stem directly from the “America First” trade policy he has been promoting since the presidential campaign. Trump is orienting the country distinctly toward protectionism and claiming that unilateralism in trade is good for the U.S.

But economic history should make Americans skeptical of this claim.

President Trump’s approach to trade seems to be based on a false understanding of how the global economy works, one that also plagued American policy makers nearly a century ago. Essentially, the administration has forgotten an important lesson from the Great Depression.

Lawmakers, already in a protectionist mood, responded to the pain of the Great Depression by passing the infamous Smoot-Hawley Tariff Act of 1930, which raised duties on hundreds of imports.

Meant in part to ease the effects of the Depression by protecting American industry and agriculture from foreign competition, the act instead helped prolong the downturn. Many U.S. trading partners reacted by raising their own tariffs, which contributed significantly to shutting down world trade.

Our great president, who does not believe that studying history can help, is winging it on his own ideas that are based on 6 bankruptcies and 7 failed business acumen.

Ben Bernanke is known to be one of the best Fed Chief's ever. He was the one that prevented the 2008 economic collapse from becoming a great depression and he did it by being one of the greatest studier of history.

Congress appointed Bernanke for his knowledge of how monetary policy contributed to the Great Depression and his belief in inflation targeting. Bernanke created many innovative Fed tools to prevent a global depression in the early stages of the banking crisis.

Bernanke was the most influential and important person in America during his tenure as Fed chairman. His monetary and fiscal policies helped stabilize the American economy, and in effect, the global economy, making him the most important person in the global economy as well

Bernanke once said:

I once told a colleague, “If you want to understand geology, study earthquakes. If you want to understand
economics, study the biggest calamity to hit the U.S. and world economies.” I’m a Great Depression buff the
way some people are Civil War buffs—and it’s because the issues raised by the Depression, and its lessons, are still
relevant today.

The Great Depression was the worst economic disaster in U.S. history. Factories closed down, about a quarter of
the workforce was unemployed (with many more finding only part-time work), stock prices plummeted and thousands of banks failed. The Depression involved every part of the country and every sector of our economy, and its impact was felt globally, as well. The extreme nature of the Depression motivates the study of macroeconomics
by inviting students to compare the performance and structure of the economy “back then” with what they see
around them today. In order to make those comparisons, students must tackle economic basics like GDP, inflation
and deflation, and unemployment

History makes us realize the mistakes made by others and prevents us from doing the same. Trump does not believe history teaches us anything.

 

[calamity]

Lower taxes are really nice. Cutting spending would be better but I'll take what I can get.

Tax cuts put less in the average Americans pocket than the cost of tariffs will take out of them. And, a gay losing his job because a bigot fired him won’t really care that his tax rate went down by a point or two.

 

[Luckyone]

Sure. Profit taking. The Stock Market is not the economy. It's just a game where people trade paper at negotiated values.

All the President has to do is say he has won the concessions he was working for from China and others, and end the increased tariffs.

What do you think would happen then?

I know the folks pushing doomsday nonsense would implode, as the stock market responded upward.

It takes a certain type of fool to believe the President is going to let responses to tariffs continue into the election year.

You really don't know very much about the stock market do you?

New lows are not profit taking they are selling interest. They are companies that are going "out of business". Is that growth?

Have you not been paying attention over the past 5 years? It is the big companies like Amazon, Google, Apple and Netflix that have been soaring while the small companies are going out of business.

When all the small companies cease to exist, we will have the rich continue to get richer and the poor get poorer and that cannot work for long in any way shape or form.

and by the way on your statement "It takes a certain type of fool to believe the President is going to let responses to tariffs continue into the election year."

Let me respond by saying that is takes a certain type of fool to believe that Trump is not that type of fool, especially when he proves he is that type of fool every day of his life.

 

[Mycroft]

History doesn't exist????

Perhaps you should do a study on what prolonged the Great 1929 Depression............it was the Trade War!



Our great president, who does not believe that studying history can help, is winging it on his own ideas that are based on 6 bankruptcies and 7 failed business acumen.

Ben Bernanke is known to be one of the best Fed Chief's ever. He was the one that prevented the 2008 economic collapse from becoming a great depression and he did it by being one of the greatest studier of history.



Bernanke once said:



History makes us realize the mistakes made by others and prevents us from doing the same. Trump does not believe history teaches us anything.

I prefer math to history when asking you to justify your pronouncements about odds.

btw, you didn't even present history...just an opinion from Bernanke and a screed from...well I don't know where it's from.

 

[Luther]

This is an opinion piece so have at it.

Trump is doing to our nation what he did with the 6 companies he bankrupted and the 7 companies he failed with. His decisions have been all wrong and he is getting unhinged when he can't fix it by bullying or blaming other people (like Fed Chief Powell) to do what he wants, which in turn would further throw us into a deeper hole thereafter. He is raising further tariffs to "punish China into submission (which will never happen), or like he tried to do today, force big companies to look elsewhere for business other than China (which the CEO's will laugh at). All of these measures will hurt us a much as hurting the other countries, which in turn will hurt us all as a world-wide recession will occur. It is a no win situation for all.

All of this because he is trying to fend off a recession and feed his base what he thinks they want before the next election so that he can get re-elected.

Trump is using his power trying to force things to his way but unfortunately reality can never be forced into anything other than for a very short time, after which reality comes back with even harsher consequences.

Trump is literally doing everything in his power to disrupt our nation and the end result will be exactly what happened to him 13 times, which is failure or bankruptcy.

The only time he was successful at anything was with the help of the Russians through the Bayrock Group and the Russians want us to fail so they will not help. This was exactly what they wanted and they got the perfect person to accomplish their goals.

All of this heading down a bottomless pit is because Republicans are not stepping up to the plate to try to stop him from doing damage to our nation. This is not about politics anymore, it is about survival of our nation. What good will the Republican party be able to do with a nation of ashes.

Trump is the most incompetent person in the world and he is leading the most previously successful nation in the world down the path of not only implosion but economic catastrophe for the entire world.

How everyone that is a patriot and lover of our country cannot see what Trump is doing and step up to prevent it, is by beyond my ability to understand,

I do know one thing, history will not be kind to the Republicans that could have done something to stop it, but didn't!

Prepare for the worst. You will first see it in the stock market and then see it in your pocketbooks and then see it with unemployment start back up and in a fast way. Already many companies (other than the big ones) are at all-time lows and ready to go out of business. The big companies will survive a bit longer as they will get all the business that the small companies had to give up, but they will follow as well. Take it from me, unemployment will start to rise starting with the next report next week or latest the following one.

Mark my words, the United States has regressed. It has not gotten greater, it has dumber and will get poorer like never seen before.

We Are Heading Into A Bottomless Pit

Yes we are

Just not by all the reasons you give

 

[ocean515]

It’s like saying someone with multiple wives knows what makes relationships work. Oh that’s right, the stable genius has that on his resume to.

You lack of answer reflects what's in the area it came from.

 

[Luckyone]

I prefer math to history when asking you to justify your pronouncements about odds.

btw, you didn't even present history...just an opinion from Bernanke and a screed from...well I don't know where it's from.

I am surprised you believe in math as math is history.

Let me say that there is a 1 in 13 million chance that Trump's approach to the trade war will end up with a positive result and I am being kind in the probability numbers. Where do I come up with these numbers? easy, the last time tariffs were imposed in a trade war scenario it was a total and complete failure. Why do I say I am being kind? because the damage already done cannot be recovered even if the trade war ends. For example, the soybean contracts we had with China have now been replaced by China with contracts with Brazil and those cannot be replaced given that China is now getting what they need and use and even if the trade war ends, those soybean contracts have been lost.

Trump has already failed to make things better. The only thing he can hope for is to "recoup some losses".

He has already lost and the "math" is clear on that!

As far as Bernanke is concerned, just go to google. It is full of information about the man. I personally know about him because I was in the stock market and he was "the news" every day in 2008.

 

[Mycroft]

I am surprised you believe in math as math is history.

Let me say that there is a 1 in 13 million chance that Trump's approach to the trade war will end up with a positive result and I am being kind in the probability numbers. Where do I come up with these numbers? easy, the last time tariffs were imposed in a trade war scenario it was a total and complete failure. Why do I say I am being kind? because the damage already done cannot be recovered even if the trade war ends. For example, the soybean contracts we had with China have now been replaced by China with contracts with Brazil and those cannot be replaced given that China is now getting what they need and use and even if the trade war ends, those soybean contracts have been lost.

Trump has already failed to make things better. The only thing he can hope for is to "recoup some losses".

He has already lost and the "math" is clear on that!

As far as Bernanke is concerned, just go to google. It is full of information about the man. I personally know about him because I was in the stock market and he was "the news" every day in 2008.

So...you don't have any math...just history. And that history is "the last time tariffs were imposed in a trade war". Can you tell me the parallels between that last time and this time? Can you show me how the use of tariffs is the same...for the same purpose? I don't think you can.

You should stick to math.

 

[Helix]

if we let the hyper-rich raid the treasury a few more times, the economy will awesome itself magically. a lot of people are saying that, believe me.

 

[Jay59]

Owning “multiple” businesses isn’t exactly proof that someone “knows what works.” It indicates the opposite.

That is the most counter intuitive thing I have seen in months. Do you have some sort of justification or is this a troll?

 

[RAMOSS]

Lower taxes are really nice. Cutting spending would be better but I'll take what I can get.

Of course, the lower taxes are to the people who make 10 times more than you do. They are taking less out of your paycheck so you owe more at the end of the year, to give you an illusion.