Trumpy-nomics -- "fixing" an economy that is already great. What could possibly go wrong?

[nauseus]

  On 12/12/2024 at 7:19 AM, thaibeachlovers said:

There was a popular show host on Fox many years ago ( I forget his name ) that forsaw the US printing lots and lots and lots of paper money and the resulting inflation. He must be laughing like a drain now.

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Well the crazy low interest rates helped to  keep inflation down for years, but in the background the debt in all classes kept rising relentlessly and I think it is debt that has to burst the big bubble eventually. But that can keeps rolling down the road.

[Dan O]

  On 12/12/2024 at 7:20 AM, KhunLA said:

To the title ... 20+% inflation over 4 yrs is far from great.  Average 5.25% a year vs Trump's <2% a year (2016-2020).   And that's the fake inflation used for Soc Sec COLA.

 

Housing pricing the past 4 yrs,  through the roof ... yea, great economy 

 

Starting to look like TH, multiple generations living in same house, as kids can't afford their own, and live with mommy & daddy still.   Hard to go outside without seeing a tent city in every warm metro area.

 

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Quote real facts not made up bs cherry picked info 

[KhunLA]

  On 12/12/2024 at 8:31 AM, Dan O said:

Quote real facts not made up bs cherry picked info 

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Please point out what is made up.  COLA are actually, and I don't think I need to explain how the housing market pricing has skyrocketed the last 4 yrs.

 

Everyday living cost is what affects most citizens.  They are not happy, or better off than they were 4 years ago.  Biden has failed miserably.   Even saw a thread stating he won the 'worst president' label for the past few decades.   There's an honor worth shouting about.

 

Didn't cherry pick anything, simply stated the facts 

 

source

[spidermike007]

This is such a complicated formula, first of all the economy in America is not great, the stock market is high, and the real estate prices are high, but in general prices are very high, wages have stagnated, and 70% of the American population is having a very difficult time getting by. So even though my politics align with yours I did not like the Biden economic agenda. The second thing to consider is that even though Trump was a nightmare candidate the alternative was terrible, so the Dems are largely to blame for the loss. Harris was a terrible candidate, and she was a terrible selection, and the message was all wrong.

 

Can Trump fix any of the issues that he's been discussing? I doubt it, he's not a very capable businessman, he's not particularly smart, and his tariff plan is dumber than dirt. We'll see. I'm hoping that I might be pleasantly surprised by something that he gets done, but I'm not expecting much. And I'm hoping that he's not as destructive as I think he might be. 

[impulse]

  On 12/12/2024 at 7:20 AM, KhunLA said:

Housing pricing the past 4 yrs,  through the roof ... yea, great economy

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I found out this week that my niece's home doubled in value.  Win, right?

 

Now she can't afford to live there.  Insurance has doubled to keep up with the value, as have the property taxes. She can't afford the higher costs.

 

So she has to sell it.

 

[frank83628]

  On 12/12/2024 at 6:08 AM, LosLobo said:

Trump's latest pitch unveils his vision of a kleptocracy—an economy crafted for himself and his oligarch allies, modeled after Putin's playbook. And the voters who put him in power? Let them eat the hollow "cake" of culture wars......

'In a post to his Truth Social platform on Tuesday, Trump said: "Any person or company investing ONE BILLION DOLLARS, OR MORE, in the United States of America, will receive fully expedited approvals and permits, including, but in no way limited to, all Environmental approvals. GET READY TO ROCK!!!'


A government of oligarchs that will exist to solely serve the interests of oligarchs while distracting working people with culture wars," wrote former GOP adviser turned anti-Trump strategist Ron Filipkowski.

'Government of the billionaires': Trump's new pitch triggers explosive outcry

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You comment ost and credabitily after you mentioned Putin. Screetchy far left nonsense.

 

So companies investing the US and creading Jobs for US citizenis a bad thing?

[KhunLA]

  On 12/12/2024 at 9:07 AM, impulse said:

 

I found out this week that my niece's home doubled in value.  Win, right?

 

Now she can't afford to live there.  Insurance has doubled to keep up with the value, as have the property taxes. She can't afford the higher costs.

 

So she has to sell it.

 

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No problem, BlackRock will scoop it up.

 

Soon they'll be the landlord of all, part of the 'New World Order' ...

 

... part of why I left in 2000 😎

[G_Money]

  On 12/11/2024 at 3:10 PM, Jingthing said:

Frankly. I'm worried.

 

 

Trump's plans are tailored towards oligarchs and inflicting pain on the masses.

I don't think we have many oligarchs here.

It's interesting to compare to Argentina who elected a Trump-like character as well for economic reasons.

But Argentina's economy has been a basket case for generations, and radical change made much better sense there.

The worse months of the inflation time under Biden would be like a pipe dream for them.

Indeed inflation is down in Argentina (still objectively quite bad though) but poverty has spiked massively as the price.

Elon Musk even before the election signaled great pain was in store for the American masses, but I don't think very many Trump voters heard that (or let it get in the way of the magical thinking about the powers of "strong man" Trump).

So more or less Argentina kind of HAD to take massive risks with their economy.

The USA most certainly didn't. On the face of it -- INSANE. 

 

 

 

 

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Only ignorant fools would believe the Biden economy would be better than Trump’s.

 

How easy the fools forget about record inflation, record high gasoline, record high mortgage rates.  Record high groceries.

 

Supply chain issues.  Shipping overloading the LA/San Pedro harbor waiting to be offloaded.

 

The list goes on.

[sqwakvfr]

When was the last time one went to a store for basic goods in the US? I did. Back in mid September 2024.  The economic numbers are good and so are the prices of everyday necessities like food.  I didn't even look at things like meat, chicken or even fish.  Eating out even at fast food places made me pause a little.  Cheapest lunch I found was a single cheeseburger, fries and a drink was just under $10. This was at In N Out.  The most expensive lunch at a fast food place was at Chipotle (Chicken Burrito and a drink was almost $17). I talked to some of the people I used to know and one was actually honest and sometimes his family pays for groceries with a credit card.  This usually happens before pay day. Aggregate economic numbers sound great but sometimes they do not tranlate to the daily challenges of most Americans. 

On a positive note my favorit wine (Charles Buck) at Trader Joe's was still a bargain at $3.99 a bottle.  It used to $1.99 to $2.49 a bottle.  The prices of other things was not so pleasant.  

[Dan O]

  On 12/12/2024 at 8:45 AM, KhunLA said:

Please point out what is made up.  COLA are actually, and I don't think I need to explain how the housing market pricing has skyrocketed the last 4 yrs.

 

Everyday living cost is what affects most citizens.  They are not happy, or better off than they were 4 years ago.  Biden has failed miserably.   Even saw a thread stating he won the 'worst president' label for the past few decades.   There's an honor worth shouting about.

 

Didn't cherry pick anything, simply stated the facts 

 

source

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You don't factor in the impact of what Trump did in his last service and the carry on effect that lasts for months afterward. His handling of covid set the stage for the massive inflation many like to blame Biden for. Certainly he didn't create covid but his handling of it was horrible. He ignored warnings at the onset from China at the very beginning  and he is the one the started the funding for vaccine development under Warp Speed ignoring normal protocols and encouraged the Fed Reserve on monetary policy. Don't forget the debacle in most every agency where he appointed unqualified individuals to run them and his back channel disclosure of sensitive information to his ambassadors in Europe in unsecured communication.  So yeah you're cherry picking your data and not including significant issues or the recovery to job creation and reversal of unemployment among other issues. But you go with your narrative if that makes you feel better.  Here's a little perspective of who you worship 

[Dan O]

  On 12/12/2024 at 9:17 AM, KhunLA said:

No problem, BlackRock will scoop it up.

 

Soon they'll be the landlord of all, part of the 'New World Order' ...

 

... part of why I left in 2000 😎

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And there goes the little credibility you had 

[simple1]

  On 12/12/2024 at 5:14 AM, soalbundy said:

How can there be national prosperity with 36 trillion of debt and interest payments using up most of the tax revenues, to me it looks like disaster whoever is in charge.

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2023 tax revenue was $4.4 trillion, interest cost on current  national debt approx $850 billion p.a. Under trump highly likely national debt will increase along with interest on that debt

 

[pomchop]

  On 12/11/2024 at 6:16 PM, Patong2021 said:

Why worry? Until Trump's administration enacts the legislation or imposes its edicts it's an as is operation.

 

And if the expected changes are as bad as claimed, then the outcome will be the best thing that can occur for those who are opposed to Trump.  Financial pain and disarray will  illustrate the folly of Trumpenomics. On the other hand, if the Trump policies are solid, then there will be national prosperity. Looks to me like there will be a positive outcome either way. The fact is, that trump has a mandate to act, and he will.

 

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I am not sure the cult can be broken even if maga are lined up with a tin cup in a bread line.

[simple1]

  On 12/12/2024 at 7:11 AM, thaibeachlovers said:

The only people that believe what the poster you responded to said are the ones that claim that Obama rescued the economy and not Trump.

Sad deluded people.

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Care to support your claim with credible link/s. In the meantime:

 

 By the end of his second term, the number of persons with jobs, real median household income, stock market, and real household net worth were all at record levels, while the unemployment rate was well below historical average.

 

https://en.wikipedia.org/wiki/Economic_policy_of_the_Barack_Obama_administration#:~:text=The economy of the United,end of World War II.

[transam]

  On 12/11/2024 at 6:03 PM, thaibeachlovers said:

You overlook that the only alternative to Trump was Harris, and most of us know why she was defeated by Trump.

If you want to moan about it, blame the Dems for putting up the worst possible candidate.

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Yes, people of your mindset voted for him, the gullible......😬

[Dan O]

  On 12/12/2024 at 9:19 AM, G_Money said:

Only ignorant fools would believe the Biden economy would be better than Trump’s.

 

How easy the fools forget about record inflation, record high gasoline, record high mortgage rates.  Record high groceries.

 

Supply chain issues.  Shipping overloading the LA/San Pedro harbor waiting to be offloaded.

 

The list goes on.

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None of those were a result of Biden and his policies but a result of the impact of covid and the reaction  trump supported with the Fed reserve, and yes it started with Trump not Biden. Warp Speed funding for accelerated vaccine approvals. His backing of the feds reaction on interest rates. The  follow on supply chain issues which f'd up global logistics and stimulated inflation coupled with his tax cuts to the rich corp allowing them record profits at a time when the common man suffered.

 

So for you or anyone to try to blame Biden for the handling of covid and its impact globally is beyond ridiculous and shows your blind bias to try to make a issue and talking point to support your false narrative. 

[0ffshore360]

  On 12/11/2024 at 6:03 PM, thaibeachlovers said:

You overlook that the only alternative to Trump was Harris, and most of us know why she was defeated by Trump.

If you want to moan about it, blame the Dems for putting up the worst possible candidate.

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Tell "us" what  don't  know  what your "most of us" apparently do know?

Given the lack of cumulative  votes that even for Trump were less than last time few people who claim your knowledge have any single explanation even considering Harris as a poor candidate.

But in consideration of the globally unexpected outcome there are few who are predicting a happy outcome for the majority.

Other than enabling a collection of egotistical wannabees in his own image Trump has already triggered chaos in anticipation.

 

 

[Mitkof Island]

Remember he is the smartest man in the world. Over 70 million gullible SUCKERS voted for a guy who could not name all fifty states if his life depended on it. Don,t worry with a Clown and his cult in charge America as we know it is gone in 2025.

[Jingthing]

Here comes the pain. Trump sees his fans as suckers and marks.

He cares NOTHING about them.

Now as a lame duck he doesn't even need their votes anymore.

His real constituency is his own fat ass and the oligarchs.

 

[jimmybcool]

  On 12/12/2024 at 5:14 AM, soalbundy said:

How can there be national prosperity with 36 trillion of debt and interest payments using up most of the tax revenues, to me it looks like disaster whoever is in charge.

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This is a reality.  It is a problem developed over decades by both parties and the bill is coming due.  It might be insurmountable and the US might ge headed into a forced change in how it taxes and spends.

 

But what really killed me about this headline was - already great economy?  Bwahahahaha.

 

It is for the rich in stock markets (thank you) but working people have far less financial security and spending power than they did 4 years ago and it isn't headed the right way.  Perhaps Trump's changes will energize the US economy.  Perhaps not.  But it is a flat out LIE that this is a great economy.

 

I have no degree in economics but I have less confidence in the DEM ideas than the GOP ideas regarding how an economy works.  I think we have over-regulated and frightened some major components of the economy into pulling back.  The fossil fuel industry for example.  We shall see.

 

[Lacessit]

Asking Trump to change the habits of a lifetime is like asking Hannibal Lecter to go vegan.

 

Trump built his property empire on bluster, bullsh!t and spin. Every asset loaded up with debt.

 

I don't know why anyone would expect him to behave differently as president.

 

He will be throwing the poor he professes to love under a bus, while enriching himself and his cronies. He can never have enough.

 

I very much doubt he will achieve anything in office. Like his last term, it will be a lot of sound and fury, signifying nothing.

[Jingthing]

  On 12/12/2024 at 11:59 AM, Lacessit said:

Asking Trump to change the habits of a lifetime is like asking Hannibal Lecter to go vegan.

 

Trump built his property empire on bluster, bullsh!t and spin. Every asset loaded up with debt.

 

I don't know why anyone would expect him to behave differently as president.

 

He will be throwing the poor he professes to love under a bus, while enriching himself and his cronies. He can never have enough.

 

I very much doubt he will achieve anything in office. Like his last term, it will be a lot of sound and fury, signifying nothing.

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He will achieve DAMAGE. The only question is whether it will be reversible. 

[frank83628]

  On 12/12/2024 at 11:15 AM, pomchop said:

I am not sure the cult can be broken even if maga are lined up with a tin cup in a bread line.

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The cult is the Democrat & left, you vehemently denied Bidens cognitive  decline, despite the fact anyone with 2 working eyes could see it clear as day.

[SunnyinBangrak]

  On 12/12/2024 at 12:02 PM, Jingthing said:

He will achieve DAMAGE. The only question is whether it will be reversible. 

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I'm sure far left Time magazine would not have made Trump Person of the Year if they were concerned he would cause damage.

 

DJT. Time magazine Person of the Year. Oh yes!! Cometh the hour, cometh the man. Trump is giddying up to save America.

[still kicking]

  On 12/12/2024 at 7:14 AM, Dan O said:

and the excuses start already. so pathetic

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Especially from a Kiwi 

[Jingthing]

  On 12/12/2024 at 12:17 PM, SunnyinBangrak said:

I'm sure far left Time magazine would not have made Trump Person of the Year if they were concerned he would cause damage.

 

DJT. Time magazine Person of the Year. Oh yes!! Cometh the hour, cometh the man. Trump is giddying up to save America.

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You're joking, right?

 

Why Adolf Hitler Was TIME's Man of the Year for 1938 | TIME

[Patong2021]

  On 12/12/2024 at 5:14 AM, soalbundy said:

How can there be national prosperity with 36 trillion of debt and interest payments using up most of the tax revenues, to me it looks like disaster whoever is in charge.

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But that is not the case.

As of November 2024 it costs $169 billion to maintain the debt, which is 13% of the total federal spending in fiscal year 2025.

Government revenue is income received from taxes and other sources to pay for government expenditures. The U.S. government has collected $629 billion in fiscal year 2025.   I agree that 26.7% of revenues for debt service is high. However, the cost of carrying debt will decrease as interest rates decrease.   As of October 2024, the average interest rate on the U.S. federal debt is 3.30%

https://fiscaldata.treasury.gov/americas-finance-guide/government-revenue/

 

I do agree that  high debt is   not a good position. Unfortunately,  some of Trump's biggest backers are the people who provide the funding for the national debt or who make a living from  debt transactions.

 

 

 

 

[Patong2021]

  On 12/12/2024 at 6:08 AM, LosLobo said:

Trump's latest pitch unveils his vision of a kleptocracy—an economy crafted for himself and his oligarch allies, modeled after Putin's playbook. And the voters who put him in power? Let them eat the hollow "cake" of culture wars......

'In a post to his Truth Social platform on Tuesday, Trump said: "Any person or company investing ONE BILLION DOLLARS, OR MORE, in the United States of America, will receive fully expedited approvals and permits, including, but in no way limited to, all Environmental approvals. GET READY TO ROCK!!!'


A government of oligarchs that will exist to solely serve the interests of oligarchs while distracting working people with culture wars," wrote former GOP adviser turned anti-Trump strategist Ron Filipkowski.

'Government of the billionaires': Trump's new pitch triggers explosive outcry

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It will not be smooth sailing. Aside from US federal approvals, state approvals are needed, and then there are local approvals at the county and municipal levels. Just as  Republican activists filed  lawsuits, so ttoo will those opposed to the Republican agenda.

[G_Money]

  On 12/12/2024 at 11:27 AM, Dan O said:

None of those were a result of Biden and his policies but a result of the impact of covid and the reaction  trump supported with the Fed reserve, and yes it started with Trump not Biden. Warp Speed funding for accelerated vaccine approvals. His backing of the feds reaction on interest rates. The  follow on supply chain issues which f'd up global logistics and stimulated inflation coupled with his tax cuts to the rich corp allowing them record profits at a time when the common man suffered.

 

So for you or anyone to try to blame Biden for the handling of covid and its impact globally is beyond ridiculous and shows your blind bias to try to make a issue and talking point to support your false narrative. 

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The economic disasters we’re under Biden’s watch.

 

Leftists doing what leftists do ALWAYS put the blame on someone else.

 

Pathetic.  
 

You fit my description to a T.

[SunnyinBangrak]

  On 12/12/2024 at 11:59 AM, Lacessit said:

Asking Trump to change the habits of a lifetime is like asking Hannibal Lecter to go vegan.

 

Trump built his property empire on bluster, bullsh!t and spin. Every asset loaded up with debt.

 

I don't know why anyone would expect him to behave differently as president.

 

He will be throwing the poor he professes to love under a bus, while enriching himself and his cronies. He can never have enough.

 

I very much doubt he will achieve anything in office. Like his last term, it will be a lot of sound and fury, signifying nothing.

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Reading this it seems some of us are going to enjoy these next 4 years of peace, prosperity and common sense alot more than others.