The Next President Inherits a Remarkable Economy

[G_Money]

26 minutes ago, pattayasan said:

 

Musk knows that too.

You appear jealous.

[pattayasan]

1 minute ago, G_Money said:

You appear jealous.

 

I am. My life would have been much easier if I had inherited 400 large. You?

[impulse]

Uh Oh.  Maybe not so remarkable...  Bad news in the last week before the election.

 

The U.S. economy lost 28,000 private sector jobs while the federal government added 40,000, BLS data shows. 

 

The October jobs report also saw employment gains in August and September be revised down by 81,000 and 31,000

 

U.S. economic growth in the third quarter of 2024 was weaker than expected, growing 2.8% — 0.2% below economist expectations.

 

https://dailycaller.com/2024/11/01/private-sector-jobs-vanish-into-thin-air-while-feds-add-even-more-workers-to-payroll/

 

[pattayasan]

3 minutes ago, impulse said:

Uh Oh.  Maybe not so remarkable...  Bad news in the last week before the election.

 

The U.S. economy lost 28,000 private sector jobs while the federal government added 40,000, BLS data shows. 

 

The October jobs report also saw employment gains in August and September be revised down by 81,000 and 31,000

 

U.S. economic growth in the third quarter of 2024 was weaker than expected, growing 2.8% — 0.2% below economist expectations.

 

https://dailycaller.com/2024/11/01/private-sector-jobs-vanish-into-thin-air-while-feds-add-even-more-workers-to-payroll/

 

 

That's probably 10% of an average monthly movement in jobs

[Mazungu]

8 hours ago, G_Money said:

It can help in the beginning.  He put it to work.

Many have blown their inheritance 

 

I received nothing from my dad but don’t hold resentment for those who did.

 

I sense some resentment in your statement. 

No resentment. Just amazed that Trump can be a bad businessman but they myth persists among the cult that he is not. 

He bankrupted 6 hotel and casino businesses (who loses money on a casino??) because he over-leveraged them. 

And then there are these failed businesses: 

Trump Shuttle -- FAILED

Trump University -- FAILED

Trump Vodka -- FAILED

Trump Steaks -- FAILED

Trump Mortgage -- FAILED

GoTrump.com -- FAILED

But the biggest con of all was when he said in 2016 he would fund his political campaign with his own money. 

 

"I don't need anybody's money." -- Trump

 

But here he is scamming his supporters for political donations and hawking them everything from t-shirts to watches to sneakers to coins, etc. Can't everyone see the con?

 

 

[mdr224]

On 10/31/2024 at 4:41 AM, HonestQuietTom said:

No different to 2016 when Trump inherited Obama's economy.

No different to 2000 when Bush inherited Clinton's economy

 

The exact opposite of 2008 when Obama inherited a mess from Bush

The exact opposite of 2020 when Biden inherited a mess from Trump

 

Somehow Trump leads every poll in who is better for the economy...., go figure?

Would be better for the forum if you were honest or quiet, tom

[Yagoda]

Great job numbers today LOL. 12,000

 

12,000

[Talon]

7 hours ago, impulse said:

Uh Oh.  Maybe not so remarkable...  Bad news in the last week before the election.

 

The U.S. economy lost 28,000 private sector jobs while the federal government added 40,000, BLS data shows. 

 

The October jobs report also saw employment gains in August and September be revised down by 81,000 and 31,000

 

U.S. economic growth in the third quarter of 2024 was weaker than expected, growing 2.8% — 0.2% below economist expectations.

 

https://dailycaller.com/2024/11/01/private-sector-jobs-vanish-into-thin-air-while-feds-add-even-more-workers-to-payroll/

 

 

DOWNWARD revisions are common monthly with the Biden/Harris Regime.

[Mazungu]

30 minutes ago, Yagoda said:

Great job numbers today LOL. 12,000

 

12,000

The uneducated are fooled by headlines. You need to dig a little deeper. 

 

"U.S. employers added a scant 12,000 jobs in October — but the labor market is likely not as weak as that number implies.

That's because the number was skewed by an ongoing strike at Boeing and by the impact of Hurricanes Milton and Helene. The unemployment rate, which is less subject to temporary distortions, held steady at 4.1% in October, according to the Labor Department report released on Friday."

 

https://www.npr.org/2024/11/01/nx-s1-5173664/economy-jobs-unemployment-hurricanes-boeing-strike

[Yagoda]

1 minute ago, Mazungu said:

The uneducated are fooled by headlines. You need to dig a little deeper. 

 

"U.S. employers added a scant 12,000 jobs in October — but the labor market is likely not as weak as that number implies.

That's because the number was skewed by an ongoing strike at Boeing and by the impact of Hurricanes Milton and Helene. The unemployment rate, which is less subject to temporary distortions, held steady at 4.1% in October, according to the Labor Department report released on Friday."

 

https://www.npr.org/2024/11/01/nx-s1-5173664/economy-jobs-unemployment-hurricanes-boeing-strike

NPR. The brainwashed in the bubble. If a 100000 jobs were added, they would dance and then ignore the downward revision. Thats never happened, right?

 

 

[Mazungu]

5 minutes ago, Yagoda said:

NPR. The brainwashed in the bubble. If a 100000 jobs were added, they would dance and then ignore the downward revision. Thats never happened, right?

 

 

 

Why aren't you clapping & giving kudos to Biden/Harris for having the best major developed economy in the world? Are you a hater when the US has good news? 

 

 

[impulse]

57 minutes ago, Mazungu said:

But here he is scamming his supporters for political donations and hawking them everything from t-shirts to watches to sneakers to coins, etc. Can't everyone see the con?

 

That's nickel and dime stuff compared to the grift of the Bidens and the Clintons and the Dem Elite in general.  That's costing us $trillions.

 

[mdr224]

1 minute ago, Mazungu said:

 

Why aren't you clapping & giving kudos to Biden/Harris for having the best major developed economy in the world? Are you a hater when the US has good news? 

 

 

I dont think average americans care. They care about how groceries have quadrupled in price since 2020

[Mazungu]

1 minute ago, mdr224 said:

I dont think average americans care. They care about how groceries have quadrupled in price since 2020

I guess Biden was responsible for groceries going up in the UK, France, Germany and the rest of the world? Dig deeper. Inflation was a world-wide problem coming out of COVID. Easy to blame without thinking why. 

[Mazungu]

4 minutes ago, impulse said:

 

That's nickel and dime stuff compared to the grift of the Bidens and the Clintons and the Dem Elite in general.  That's costing us $trillions.

 

Please post your source. Or are you just venting? 

[mdr224]

Just now, Mazungu said:

I guess Biden was responsible for groceries going up in the UK, France, Germany and the rest of the world? Dig deeper. Inflation was a world-wide problem coming out of COVID. Easy to blame without thinking why. 

Trump didnt create covid but was voted out because of it. It doesnt have to be Bidens fault, just that things were better with trump. Thats why he wins

[mdr224]

Interesting how you gave biden harris credit for the worlds best economy but not their fault for inflation. I see what you did there

[Yagoda]

16 minutes ago, Mazungu said:

 

Why aren't you clapping & giving kudos to Biden/Harris for having the best major developed economy in the world? Are you a hater when the US has good news? 

 

 

Clearly you are not from the US.

[Mazungu]

2 minutes ago, Yagoda said:

Clearly you are not from the US.

555 Wrong again. 

[sqwakvfr]

Economy is dynmaic.  It does not take much for it go in the opposite direction.  For instance the interest payment on the 35+ Trillion debt is at 1 Trillion per year.  The US GDP for 2023 is less than the total debt(GDP was slightly over 27 Trillion).  I'm not sure how long "kick the can down the road" will be sustainable. 

[Jim Blue]

27 minutes ago, impulse said:

 

That's nickel and dime stuff compared to the grift of the Bidens and the Clintons and the Dem Elite in general.  That's costing us $trillions.

 

Interesting how come crooked Biden after a lifetime of "crooked " government service ends up worth a measlly 10 million?

[impulse]

30 minutes ago, Mazungu said:

Please post your source. Or are you just venting? 

Let's start with buying votes with student loan forgiveness.   Contrary to the USSC ruling...

 

That's good for $175 billion.  Given the GAF, I could easily find $trillions.

 

Another round of forgiveness was announced Thursday, bringing the total amount of student loan cancellation to more than $175 billion for nearly 5 million people since President Joe Biden took office. That’s roughly equal to 11% of all outstanding federal student loan debt.

 

https://edition.cnn.com/2024/10/17/politics/biden-student-loan-forgiveness/index.html

 

 

Edited 2 hours ago by impulse

[Mazungu]

4 minutes ago, impulse said:

Let's start with buying votes with student loan forgiveness.   Contrary to the USSC ruling...

 

That's good for $175 billion.  Given the GAF, I could easily find $trillions.

 

Another round of forgiveness was announced Thursday, bringing the total amount of student loan cancellation to more than $175 billion for nearly 5 million people since President Joe Biden took office. That’s roughly equal to 11% of all outstanding federal student loan debt.

 

https://edition.cnn.com/2024/10/17/politics/biden-student-loan-forgiveness/index.html

 

 

How about Trump's bribe to the farmers after Trump's tariffs on China?

 

https://www.forbes.com/sites/stuartanderson/2020/01/21/trump-tariff-aid-to-farmers-cost-more-than-us-nuclear-forces/

 

 

[pattayasan]

4 minutes ago, impulse said:

Let's start with buying votes with student loan forgiveness.   Contrary to the USSC ruling...

 

That's good for $175 million.  Given the GAF, I could easily find $trillions.

 

Another round of forgiveness was announced Thursday, bringing the total amount of student loan cancellation to more than $175 billion for nearly 5 million people since President Joe Biden took office. That’s roughly equal to 11% of all outstanding federal student loan debt.

 

https://edition.cnn.com/2024/10/17/politics/biden-student-loan-forgiveness/index.html

 

 

 

And a massive stimulus to the GDP but that's the problem for the GOP. The student debt relief would be great for the economy. Trump will toss Obamacare for no other reason than to wipe out Obama's legacy. Trump is a puerile wrecking ball on society.

[impulse]

2 minutes ago, Mazungu said:

How about Trump's bribe to the farmers after Trump's tariffs on China?

 

https://www.forbes.com/sites/stuartanderson/2020/01/21/trump-tariff-aid-to-farmers-cost-more-than-us-nuclear-forces/

 

You are aware, of course, that tariffs go INTO the treasury and loan forgiveness comes OUT of the treasury?

 

One is a redistribution of my wealth to other people (after I paid off my student loans), and is not discretionary on my part.  Tariffs on imported food are a very discretionary issue.  If bananas are too expensive, I don't buy them.

 

[pattayasan]

1 minute ago, impulse said:

 

You are aware, of course, that tariffs go INTO the treasury and loan forgiveness comes OUT of the treasury?

 

One is a redistribution of my wealth to other people (after I paid off my student loans), and is not discretionary on my part.  Tariffs on imported food are a very discretionary issue.  If bananas are too expensive, I don't buy them.

 

 

Whose pocket do tariffs come out of?

[Mazungu]

1 minute ago, impulse said:

 

You are aware, of course, that tariffs go INTO the treasury and loan forgiveness comes OUT of the treasury?

 

One is a redistribution of my wealth to other people (after I paid off my student loans), and is not discretionary on my part.  Tariffs on imported food are a very discretionary issue.  If bananas are too expensive, I don't buy them.

 

Okay so Trump just passed his China tariff costs onto us Americans. And if he gets elected and imposes what he says he'll do on tariffs inflation will go through the roof. And Trumpsters are complaining about inflation now? Ha!

 

"Its is importers — American companies — that pay tariffs, and the money goes to U.S. Treasury. Those companies, in turn, typically pass their higher costs on to their customers in the form of higher prices. That's why economists say consumers usually end up footing the bill for tariffs."

[impulse]

2 minutes ago, pattayasan said:

Whose pocket do tariffs come out of?

 

Is that you, Bob?

 

[sqwakvfr]

16 minutes ago, pattayasan said:

 

And a massive stimulus to the GDP but that's the problem for the GOP. The student debt relief would be great for the economy. Trump will toss Obamacare for no other reason than to wipe out Obama's legacy. Trump is a puerile wrecking ball on society.

Instead of "forgive" it is a transfer of the debt. Not all former students (not all graduate with a degree) will learn the debt lesson.  Some will create other debt and who knows maybe in the Harris/Walz administration credit card debt might be the next debt to be forgiven.  Because this will also help the economy as well? 

[pattayasan]

4 minutes ago, sqwakvfr said:

Instead of "forgive" it is a transfer of the debt. Not all former students (not all graduate with a degree) will learn the debt lesson.  Some will create other debt and who knows maybe in the Harris/Walz administration credit card debt might be the next debt to be forgiven.  Because this will also help the economy as well? 

 

A transfer of debt like a tax cut for the rich? Yes, exactly like a tax cut. Only to the poor for a change.

Edited 1 hour ago by pattayasan