Choke On It, Liberals: U.S. Regains Rank As The World's Most Competitive Economy Under Trump
Oh, it’s a good day for sure. Ever since the Trump tax cuts became law, the U.S. economy has been booming. Second quarter growth reached four percent; wages for U.S. workers reached their highest levels in a decade.
https://townhall.com/tipsheet/mattvespa/...y-n2506388
China's stock market fell to 3rd (behind Japan) yesterday. The US economy is still soaring despite the setbacks from the tariffs.
I guess we just wait for it to trickle down now. I mean all this wealth our nation allegedly has, wages should be up somewhere, right?
Or should we applaud because the super rich can now afford a new yacht we don't get to ride on. It's ok. If we ever suffer calamity, Trump will be there practicing free throws with paper towels.
(08-05-2018, 06:23 PM)Kotite Wrote: [ -> ]I guess we just wait for it to trickle down now. I mean all this wealth our nation allegedly has, wages should be up somewhere, right?
Or should we applaud because the super rich can now afford a new yacht we don't get to ride on. It's ok. If we ever suffer calamity, Trump will be there practicing free throws with paper towels.
Someone has to built that yacht and the person that is employed today that was not employed 12 months ago is extremely happy that he/she has a job. A booming economy is good for everyone except those that engage in class warfare.
(08-05-2018, 06:23 PM)Kotite Wrote: [ -> ]I guess we just wait for it to trickle down now. I mean all this wealth our nation allegedly has, wages should be up somewhere, right?
Or should we applaud because the super rich can now afford a new yacht we don't get to ride on. It's ok. If we ever suffer calamity, Trump will be there practicing free throws with paper towels.
You might have to wait, my income is already better off than 2 years ago. You seem to be gagging on your sour grapes though.
(08-05-2018, 06:56 PM)copycat Wrote: [ -> ] (08-05-2018, 06:23 PM)Kotite Wrote: [ -> ]I guess we just wait for it to trickle down now. I mean all this wealth our nation allegedly has, wages should be up somewhere, right?
Or should we applaud because the super rich can now afford a new yacht we don't get to ride on. It's ok. If we ever suffer calamity, Trump will be there practicing free throws with paper towels.
Someone has to built that yacht and the person that is employed today that was not employed 12 months ago is extremely happy that he/she has a job. A booming economy is good for everyone except those that engage in class warfare.
I agree that someone has to build the yacht. Kotite offered a bad example to make his point.
I'd point out that not every extra dollar that a high income person gets goes into luxury, labor-intensive goods like yachts.
A lot of it goes into buying federal treasuries, which feed the same big government debt that we were just complaining about. And another big fraction goes into the stock market, where a lot of it is currently caught in a recursive loop of share buybacks, which don't really employ anyone or produce anything either.
(08-05-2018, 07:51 PM)flsprtsgod Wrote: [ -> ] (08-05-2018, 06:23 PM)Kotite Wrote: [ -> ]I guess we just wait for it to trickle down now. I mean all this wealth our nation allegedly has, wages should be up somewhere, right?
Or should we applaud because the super rich can now afford a new yacht we don't get to ride on. It's ok. If we ever suffer calamity, Trump will be there practicing free throws with paper towels.
You might have to wait, my income is already better off than 2 years ago. You seem to be gagging on your sour grapes though.
Hope it kept up with inflation!
(08-05-2018, 06:56 PM)copycat Wrote: [ -> ] (08-05-2018, 06:23 PM)Kotite Wrote: [ -> ]I guess we just wait for it to trickle down now. I mean all this wealth our nation allegedly has, wages should be up somewhere, right?
Or should we applaud because the super rich can now afford a new yacht we don't get to ride on. It's ok. If we ever suffer calamity, Trump will be there practicing free throws with paper towels.
Someone has to built that yacht and the person that is employed today that was not employed 12 months ago is extremely happy that he/she has a job. A booming economy is good for everyone except those that engage in class warfare.
One of my first jobs out of high school was working at a Sea Ray plant building yachts. I didn't much care for the factory work and ended up leaving after about a year but I had a few friends stay and they make a good living doing it. So yea the rich buying yachets provides a really good living for about 3,000 people in Flagler county alone.
(08-05-2018, 06:23 PM)Kotite Wrote: [ -> ]I guess we just wait for it to trickle down now. I mean all this wealth our nation allegedly has, wages should be up somewhere, right?
Actually, the action needs to trickle up now. Middle management, the folks who do the actual hiring, are finding a severe shortage of workers. Eventually their bosses who set the salary structure will get the message that they need to offer competitive salaries to fill positions. I have several friends in middle management who are currently hurting for employees. Wages will go up; they'll have to at this point.
(08-05-2018, 09:11 PM)lastonealive Wrote: [ -> ] (08-05-2018, 07:51 PM)flsprtsgod Wrote: [ -> ]You might have to wait, my income is already better off than 2 years ago. You seem to be gagging on your sour grapes though.
Hope it kept up with inflation!
Core Rate is 1.8%, projections are 2% for the next 2 years. Those are healthy numbers.
I don't think trickle down is really understood. As is typical of effective rhetoric, the name trickle down is a caricature of the actual idea.The actual theory is called supply-side economics and it has more to do with generating wealth than distributing it.
(08-03-2018, 03:50 PM)The Drifter Wrote: [ -> ]Choke On It, Liberals: U.S. Regains Rank As The World's Most Competitive Economy Under Trump
Oh, it’s a good day for sure. Ever since the Trump tax cuts became law, the U.S. economy has been booming.
NEWSFLASH: The US economy has been booming since Obama fixed everything --- sorry you missed out.
(08-06-2018, 11:02 AM)HURRICANE!!! Wrote: [ -> ] (08-03-2018, 03:50 PM)The Drifter Wrote: [ -> ]Choke On It, Liberals: U.S. Regains Rank As The World's Most Competitive Economy Under Trump
Oh, it’s a good day for sure. Ever since the Trump tax cuts became law, the U.S. economy has been booming.
NEWSFLASH: The US economy has been booming since Obama fixed everything --- sorry you missed out.
Newsflash: Obama didn't have this kind of Job Growth or a GDP above 3%.....
Keep living in your fantasy world
And it Seems Captain gave me a negative rating for the original post yet he didn't see fit to post in this thread. I guess the truth hurts.......
(08-06-2018, 11:09 AM)The Drifter Wrote: [ -> ] (08-06-2018, 11:02 AM)HURRICANE!!! Wrote: [ -> ]NEWSFLASH: The US economy has been booming since Obama fixed everything --- sorry you missed out.
Newsflash: Obama didn't have this kind of Job Growth or a GDP above 3%.....
Keep living in your fantasy world
And it Seems Captain gave me a negative rating for the original post yet he didn't see fit to post in this thread. I guess the truth hurts.......
A quick Google check shows that Trump's best month of job growth is still smaller than Obama's best month, and Trump's best quarterly GDP growth number is also smaller than Obama's.
We'll see what the long term trends are, but, Obama definitely had "this kind of job growth" and "GDP above 3%"
Probably not fair to compare quarter or month in this scenario. Considering the bubble crash, the natural bounce back that came via stability was inevitable (and probably rather large). I haven't looked at the numbers, so I'm making a huge assumption that Obama's growth came on the rebound from the economy tanking. If I'm wrong, disregard that statement.
There is a lot of speculation with regard to economic growth. I'm not sure it's wise to attribute growth to any individual president except to the degree they convince the market they are pro-business. Trump does better in this regard than Obama, imo.
(08-06-2018, 02:41 PM)Last42min Wrote: [ -> ]Probably not fair to compare quarter or month in this scenario. Considering the bubble crash, the natural bounce back that came via stability was inevitable (and probably rather large). I haven't looked at the numbers, so I'm making a huge assumption that Obama's growth came on the rebound from the economy tanking. If I'm wrong, disregard that statement.
There is a lot of speculation with regard to economic growth. I'm not sure it's wise to attribute growth to any individual president except to the degree they convince the market they are pro-business. Trump does better in this regard than Obama, imo.
IMO fixing an economy that is heading toward depression is a much greater feat than maintaining a prosperous economy. That said, I think people lose sight of the fact that we all want a prosperous economy, no matter who gets credit. Personally speaking, if Trump could combine his business savvy with a few ounces of Melania's empathy, I think we could mitigate the bipartisan challenges we currently face.
(08-06-2018, 12:28 PM)mikesez Wrote: [ -> ] (08-06-2018, 11:09 AM)The Drifter Wrote: [ -> ]Newsflash: Obama didn't have this kind of Job Growth or a GDP above 3%.....
Keep living in your fantasy world
And it Seems Captain gave me a negative rating for the original post yet he didn't see fit to post in this thread. I guess the truth hurts.......
A quick Google check shows that Trump's best month of job growth is still smaller than Obama's best month, and Trump's best quarterly GDP growth number is also smaller than Obama's.
We'll see what the long term trends are, but, Obama definitely had "this kind of job growth" and "GDP above 3%"
He never had total annual gdp over 3%
Also, this codswallop about "Obama fixed everything" has got to stop. What Did community organizer Obama organize? You guessed it, AFFORDABLE HOUSING POLICY. He and Valerie Jarrett advocated for the actions taken by the government sponsored entities (Fannie Freddie) that lead to the distortions in the mortgage market.
This is the most frustrating thing about the modern left. They advocate for massive intervention, call u a racist if you point out the inherent ridj, and then when those risks cause economic blue screen they blame the "free market" & call u a RACIST if you don't support their equally flawed "solutions"
(08-06-2018, 07:36 PM)jj82284 Wrote: [ -> ] (08-06-2018, 12:28 PM)mikesez Wrote: [ -> ]A quick Google check shows that Trump's best month of job growth is still smaller than Obama's best month, and Trump's best quarterly GDP growth number is also smaller than Obama's.
We'll see what the long term trends are, but, Obama definitely had "this kind of job growth" and "GDP above 3%"
He never had total annual gdp over 3%
Also, this codswallop about "Obama fixed everything" has got to stop. What Did community organizer Obama organize? You guessed it, AFFORDABLE HOUSING POLICY. He and Valerie Jarrett advocated for the actions taken by the government sponsored entities (Fannie Freddie) that lead to the distortions in the mortgage market.
This is the most frustrating thing about the modern left. They advocate for massive intervention, call u a racist if you point out the inherent ridj, and then when those risks cause economic blue screen they blame the "free market" & call u a RACIST if you don't support their equally flawed "solutions"
Trump hasn't produced annual GDP over 3% either.
There were attempts to help non white people get more mortgages during the Clinton administration, and I don't doubt that Obama's time as an organizer in Chicago touched on that. I also don't doubt that those mortgages made an outsized impact to our subprime lending crisis. However, white people were even bigger beneficiaries of that subprime lending. The main government policy that caused the crisis of 2008 was the government looking the other way while subprime lenders packaged up those subprime loans and fraudulently sold them as A-rated assets and derivatives.
Besides, I could be wrong but I don't think Obama ever called anyone racist for opposing any of his particular policies. He did talk about feeling Didlike a victim of racism in his younger someyears, but that wasn't connected to policy. Of course the talking heads or legislators who carried water for him invoked racism more often.
(08-06-2018, 10:16 PM)mikesez Wrote: [ -> ] (08-06-2018, 07:36 PM)jj82284 Wrote: [ -> ]He never had total annual gdp over 3%
Also, this codswallop about "Obama fixed everything" has got to stop. What Did community organizer Obama organize? You guessed it, AFFORDABLE HOUSING POLICY. He and Valerie Jarrett advocated for the actions taken by the government sponsored entities (Fannie Freddie) that lead to the distortions in the mortgage market.
This is the most frustrating thing about the modern left. They advocate for massive intervention, call u a racist if you point out the inherent ridj, and then when those risks cause economic blue screen they blame the "free market" & call u a RACIST if you don't support their equally flawed "solutions"
Trump hasn't produced annual GDP over 3% either.
There were attempts to help non white people get more mortgages during the Clinton administration, and I don't doubt that Obama's time as an organizer in Chicago touched on that. I also don't doubt that those mortgages made an outsized impact to our subprime lending crisis. However, white people were even bigger beneficiaries of that subprime lending. The main government policy that caused the crisis of 2008 was the government looking the other way while subprime lenders packaged up those subprime loans and fraudulently sold them as A-rated assets and derivatives.
Besides, I could be wrong but I don't think Obama ever called anyone racist for opposing any of his particular policies. He did talk about feeling Didlike a victim of racism in his younger someyears, but that wasn't connected to policy. Of course the talking heads or legislators who carried water for him invoked racism more often.
1.) You're right. More often than not the flawed policies designed to "help minorities" often either fail or help more white Americans. Just look at the last half century.
2.) Fannie Mae and Freddie mac were the driving engine of the mortgage crisis selling both mbs and liability swaps. "Looked the other way" is another statement of economic ignorance. Fannie Mae and Freddie Mac (and the federal reserve) set the basic standards of what was perceived to be a conforming traditional loan and purchased some 50% + of all the paper that was written. Prices communicate information about risk and perceived risk. Frank Raines testified before Congress that he was so confident in the paper they were writing that he could envision keeping less than 1% cash on hand to cover potential losses. It's no wonder derivatives were so dramatically under priced and under covered. Central pricing is inherently inefficient and immune to market realities. Central pricing of risk for social goals is economic SUICIDE.
3.) You're right. He was smart enough to let other people say it for jim. Go back and watch congressional hearings when Bush wanted to more tightly regulate Fannie and Freddie.
(08-07-2018, 03:37 AM)jj82284 Wrote: [ -> ] (08-06-2018, 10:16 PM)mikesez Wrote: [ -> ]Trump hasn't produced annual GDP over 3% either.
There were attempts to help non white people get more mortgages during the Clinton administration, and I don't doubt that Obama's time as an organizer in Chicago touched on that. I also don't doubt that those mortgages made an outsized impact to our subprime lending crisis. However, white people were even bigger beneficiaries of that subprime lending. The main government policy that caused the crisis of 2008 was the government looking the other way while subprime lenders packaged up those subprime loans and fraudulently sold them as A-rated assets and derivatives.
Besides, I could be wrong but I don't think Obama ever called anyone racist for opposing any of his particular policies. He did talk about feeling Didlike a victim of racism in his younger someyears, but that wasn't connected to policy. Of course the talking heads or legislators who carried water for him invoked racism more often.
1.) You're right. More often than not the flawed policies designed to "help minorities" often either fail or help more white Americans. Just look at the last half century.
2.) Fannie Mae and Freddie mac were the driving engine of the mortgage crisis selling both mbs and liability swaps. "Looked the other way" is another statement of economic ignorance. Fannie Mae and Freddie Mac (and the federal reserve) set the basic standards of what was perceived to be a conforming traditional loan and purchased some 50% + of all the paper that was written. Prices communicate information about risk and perceived risk. Frank Raines testified before Congress that he was so confident in the paper they were writing that he could envision keeping less than 1% cash on hand to cover potential losses. It's no wonder derivatives were so dramatically under priced and under covered. Central pricing is inherently inefficient and immune to market realities. Central pricing of risk for social goals is economic SUICIDE.
3.) You're right. He was smart enough to let other people say it for jim. Go back and watch congressional hearings when Bush wanted to more tightly regulate Fannie and Freddie.
"Central pricing of risk for social goals" describes both FDIC and unemployment insurance, both of which are solvent. It also describes Social Security and Medicare, which are less solvent but still unlikely to collapse in flames the way Frannie and Freddie did.
It is risky but when coupled with the right regulations and social norms it can work.
Fannie and Freddie were allowed to get way too big compared to their original purpose, and no one in government stopped that in the short term because what they were doing was very lucrative for everyone.