Will Trump bankrupt the US entirely?

[Yellowtail]

29 minutes ago, spidermike007 said:

I think it's fairly safe for those of us that have a reasonable level of objectivity, to say that the US has been on the decline for at least 30 or 40 years, and that decline is only going to continue. Trump is precipitating that decline to a dramatic degree, whether or not he knows that ,and whether or not this is deliberate we will probably never know. 

 

Trump’s idea of power. If I can destroy, if I can defile and march on relatively unscathed and unpunished, that makes me powerful. Other people can’t get away with it, but that’s how dominant and superior I am.

 

Trump would not be where he is without the deep state or a similarly sinister organization or group of very powerful people who put him in that place, and are allowing him to conduct these extremely destructive economic policies. As reckless and as poorly thought out as all this seems, I think it's actually deliberate economic sabotage.

 

 

In what way(s) has the US been in decline for at least 30 or 40 years? 

[Gottfrid]

17 hours ago, spidermike007 said:

It would appear to some of us that the big ugly spending bill is going to lead to a massive amount of additional debt, as Elon Musk and Ray Dalio very accurately state. Many of us would question the wisdom of giving huge tax breaks to the super wealthy when the US economy is already carrying an unsustainable amount of debt, and the interest rates required to service that debt continue to rise. It does not look like the Fed will be able to lower interest rates anytime soon, as the appetite for American debt seems to be waning dramatically, for at least a dozen good reasons. 

 

For those of us who don't buy into the sloganeering we realize that very little manufacturing is coming back to the US, five major US companies have just announced that they're shifting a significant amount of their production overseas to avoid reciprocal tariffs, and that trend is likely to just continue. In addition tourism to the US is way down, due to Trump's increasingly open hostility toward the majority of the planet. 

 

Trump, nor his substandard team seem to have absolutely no understanding of globalization and the inherent ecosystems within manufacturing, and he doesn't seem to understand why manufacturing has declined in the US over the last 55 years. It certainly didn't happen in a vacuum. 

 

I predict that Trump's attempts to impose tariffs and bring manufacturing back to the US will be a massive failure of epic proportions.

 

 

Hopefully he will be removed before 

[Yellowtail]

6 minutes ago, spidermike007 said:

I think it's fairly safe to say that Trump is a pathological superfreak, and that he cares not one iota for his supporters, for Democrats (the other half), nor for Americans or the people around the world. He cares only for himself and his family, and his cronies, and it all about power and wealth. He is personally bankrupt.

 

That's the end of the story the sooner his supporters realize that the deeper their understanding will be in regard to his nature and his character. 

Hey, is one of your US businesses a hair salon? 

 

 

[Yellowtail]

Just now, Gottfrid said:

Hopefully he will be removed before 

Yeah, I love to see Vance run as an incumbent, AOC's going to be tough to beat.  

[save the frogs]

a bit off-topic ... sorry.

but Trump is not messing around with immigration.

and it's getting ugly out there.

ICE raid filmed here .... immigration going after illegal workers ... 

 

 

[Gottfrid]

4 minutes ago, Yellowtail said:

Yeah, I love to see Vance run as an incumbent, AOC's going to be tough to beat.  

Ok, forgot that! Sorry! 😂

[Dan O]

59 minutes ago, Yellowtail said:

I have never been generally for tariffs, nor have I ever supported all of Trump's use of them. 

 

So, you are either a liar, or you are still locked in your fog of ignorance, or (more likely), both. 

And there you have it, another keyboard warrior. Go back and read your own post and see who the liar is. 

[Dan O]

19 minutes ago, Yellowtail said:

In what way(s) has the US been in decline for at least 30 or 40 years? 

If you spent any time there you would know. 

[Yagoda]

15 minutes ago, Gottfrid said:

Hopefully he will be removed before 

How? Arent you just the subtly clever one. Show us how manly you are, keyboard warrior.

[Yagoda]

15 minutes ago, Yellowtail said:

Yeah, I love to see Vance run as an incumbent, AOC's going to be tough to beat.  

AOC and Jasmine Crockett. Bwaaaaaaaaaaaaaaaaaaahahahahahahahahahahahahahahahahahahahah

[jas007]

1 hour ago, Yellowtail said:

Only a small percentage of mostly rich Americans would care. 

 

Most anyone that will pay $50 for a bottle of wine will pay $100 for the same bottle. 

 

That said, I am generally against tariffs, and much of Trump's use of them. 

In America, even without the tariffs, a $50 bottle of wine is no big deal.  Anything less and it sort of seems like you're drinking junk. Not that paying more always equates with better quality, so it can be a crap shoot.  But you're right.  Once you're paying $50 or so, you probably havre money to blow and don't much care.  

[transam]

As Trump hasn't a clue what he is doing, anything could happen. For sure, a lot of folk around the world have no doubt changed their opinion of the 'land of plenty', as it is now the 'land of dictator Trump'.

 

Plus, I see many Trump supporters had disappeared from Trump discussions, but not the Putin supporters though, I wonder why........🤭

[connda]

The Ballad of the "Big Beautiful Bill"
 

A trillion for war, $1.2 to be exact,
Iran and Yemen—new conflicts they’ve cracked,
The MIC purrs, Raytheon’s stock soars,
$80 billion in profits, while citizens become poor. 
 
Young blood, cannon fodder, sent to the fray,
For Lockheed’s new missile, $44 billion to play,
Forever wars, a corporate delight,
While 45,000 bridges decay out of sight.
  
Roads turn to rubble, highways to ash,
$2.6 trillion needed, but Congress won’t splash,
A mere $50 billion, a cruel little jest,
For infrastructure’s corpse, laid bare in the West. 
 
Social safety nets bleed, $400 billion carved out,
Medicaid’s a husk, “We The People” in rout,
But campaign cash flows, $10 million a round,
From Boeing, from Northrop—Congress is spellbound.
  

They sip their champagne, in chambers of mahogany wood,
Mocking the nation, as only they could,
War hawks and fat cats, a devilish pact,
Endless war profits, while the country is sacked.

The Republic’s a husk, its bones turned to dust,
War first, people last, "In MIC Do We Trust,"
The war pigs do banquet, a feast without cease,
And the American Dream? A ghost, long deceased.  

-A collaborative tip of the hat to Grok3

[Quentin Zen]

If America collapes and the anti-Americans get their wish (most here not from good 'ol 'Merica...USA, USA, USA)  

 

China’s dominance in the Far East would finally be unquestionable. It would almost certainly invade Taiwan, and might start eyeing its ancient enemy Japan. China’s soft power over Africa and South America would have no challengers.

 

Doomers’ worst nightmare: a sustainable mid-tech, high culture global civilization, plagued by endless failing genocides.

 

Gangs would be the new, new, and they would get launch the missles against everyone.  world chaos.   slavery at it's highest level.   Most would simply go to the UK and claim asylum, then all of Europe.    Absolute chaos.

 

The perfect storm that most old guys wish for in their dying days........if I can't be happy and live in this world, then everyone must pay as well!!!!!!!!!!!!!!!!!!!!!!!!!   hahahhahahahhahaha......humans.  

[1FinickyOne]

17 hours ago, TallGuyJohninBKK said:

All the while,

Remember the good ole' days [1961] when this was the worst news they could muster?

 

There's a holdup in the Bronx,
Brooklyn's broken out in fights.
There's a traffic jam in Harlem
That's backed up to Jackson Heights.
There's a scout troop short a child,
Khrushchev's due at Idyllwild
Car 54, Where Are You

 

and now the daily weather report is more violent..

and there are 38 million tons of Sargassum [seaweed] in the Caribbean, heading for the beaches of Florida. It will smell so rotten that you might be able to smell it in Ekkamai... 

 

But who can figure this stuff out - you might think that after the first billion there is not as much utility in having further billions... what else might these people do if they cannot find fulfillment 

in a billion dollars? I have to try and keep it positive for my life alone - "Take me out to the ballgame, buy me some peanuts and Khao soy soup" - - and don't tell me the ending, I know already - 

Mighty Casey has struck out... but but but... here he comes to save the day!! Mighty Mouse is on the way. 

 

 

[Gottfrid]

54 minutes ago, Yagoda said:

How? Arent you just the subtly clever one. Show us how manly you are, keyboard warrior.

Ops! did I tarnish you idol. Dude, try to keep it together. Please don´t fall apart now. 

[Yellowtail]

1 minute ago, 1FinickyOne said:

Remember the good ole' days [1961] when this was the worst news they could muster?

 

There's a holdup in the Bronx,
Brooklyn's broken out in fights.
There's a traffic jam in Harlem
That's backed up to Jackson Heights.
There's a scout troop short a child,
Khrushchev's due at Idyllwild
Car 54, Where Are You

 

and now the daily weather report is more violent..

and there are 38 million tons of Sargassum [seaweed] in the Caribbean, heading for the beaches of Florida. It will smell so rotten that you might be able to smell it in Ekkamai... 

 

But who can figure this stuff out - you might think that after the first billion there is not as much utility in having further billions... what else might these people do if they cannot find fulfillment 

in a billion dollars? I have to try and keep it positive for my life alone - "Take me out to the ballgame, buy me some peanuts and Khao soy soup" - - and don't tell me the ending, I know already - 

Mighty Casey has struck out... but but but... here he comes to save the day!! Mighty Mouse is on the way. 

 

 

So, the problem is the rich, got it. 

 

Being from Los Angeles, it is amusing to watch an episode of Dragnet, and think about what the city looked like, and what crime was like. 

 

 

[connda]

7 minutes ago, 1FinickyOne said:

Remember the good ole' days [1961] when this was the worst news they could muster?

 

There's a holdup in the Bronx,
Brooklyn's broken out in fights.
There's a traffic jam in Harlem
That's backed up to Jackson Heights.
There's a scout troop short a child,
Khrushchev's due at Idyllwild
Car 54, Where Are You

 

and now the daily weather report is more violent..

and there are 38 million tons of Sargassum [seaweed] in the Caribbean, heading for the beaches of Florida. It will smell so rotten that you might be able to smell it in Ekkamai... 

 

But who can figure this stuff out - you might think that after the first billion there is not as much utility in having further billions... what else might these people do if they cannot find fulfillment 

in a billion dollars? I have to try and keep it positive for my life alone - "Take me out to the ballgame, buy me some peanuts and Khao soy soup" - - and don't tell me the ending, I know already - 

Mighty Casey has struck out... but but but... here he comes to save the day!! Mighty Mouse is on the way. 

 

 

Car 54.  Haven't thought of that for years. 

[connda]

[CallumWK]

https://finance.yahoo.com/news/us-business-optimism-slumps-clear-033000132.html

 

US Business Optimism Slumps in ‘Clear Pivot’ From Trump Election

 

Less than a third, or 27%, of executives polled in May by the Association of International Certified Professional Accountants said they were confident about the economic outlook for the 12 months ahead, down from 47% of respondents in the first quarter and 67% in a survey conducted in the fourth quarter, just after the US vote.

“We’re seeing a lot of revised expectations: delayed hiring and investment, pared-back expansion plans, lowered key performance indicators,” said Tom Hood, executive vice president at the AICPA. “The data shows a clear pivot from optimism to caution. Businesses are bracing for volatility, and the uncertainty around tariffs is amplifying that shift.”

 

The AICPA found that one in five business executives believe the US is already in a recession, while another 34% say they expect one by the end of the year. Of those expecting a recession this year or next, 75% predict it will be moderate to severe.

[1FinickyOne]

16 minutes ago, connda said:

Car 54.  Haven't thought of that for years. 

That's why you have me - 

[Lacessit]

3 hours ago, JaxxBKK said:

 

You just don't get it. The tarrifs are about stopping the hemorrhaging of money abroad. They are a cudgel. If, like Thailand Nations continue to keep up their barriers and THEIR tarrifs and they get what they get.

 

Everyone is whining and complaining but the truth is we won't really know how effective this play is until the end of Trump's term and maybe beyond.

 

A number of countries have come to acceptable trade agreements already. It is disingenuous to argue that the tariff play isn't effective.

 

You let Rome burn under Biden and cared not a whit. Now, you expect miracles in 100 days. It's a total laff.

The only country that has come to a trade agreement with America is the UK.  China has not, and that's the elephant in the room. It has a stranglehold on the rare earths America needs to function. 90% of rare earths mined are processed in China.

 

Post an opinion from any economist that supports your proposition the tariffs will benefit America. Every economist agrees they are inflationary.

 

I am posting facts. You are posting opinions without any facts to back them.

 

BTW, learn how to spell tariff. Your continued misspelling of the word doesn't do your credibility any good.

[connda]

"Golden Age for America?"

When I left America I could afford to live there without a problem.  Now?  Housing costs are obscene.  As a US veteran I might be able to obtain a housing voucher, but probably not given their rarity so there would be a real possibility that I'd be living rough on the street.  Illegal immigrants are given priority housing and free medical in the state where I used to live.  Average rent for a studio apartment is $1600.  Rent has essentially tripled since I left.
I spent eight years serving the country where I no longer can afford to live.  

So, the Golden Age for America?  The American Dream is isn't even on life-support - it's a dead rotting corpse.  
And the American citizens are bent over a Trump stump and are given a golly good rogering by the wealthy including Trump.  

Yeah, it's a Golden Age for Trump, his family, and his friends as well as Congress and the Senate which manufactures millionaires on a congressional salary.  F**k the rest of us and especially US veterans. 

[Yellowtail]

1 minute ago, connda said:

"Golden Age for America?"

When I left America I could afford to live there without a problem.  Now?  Housing costs are obscene.  As a US veteran I might be able to obtain a housing voucher, but probably not given their rarity so there would be a real possibility that I'd be living rough on the street.  Illegal immigrants are given priority housing and free medical in the state where I used to live.  Average rent for a studio apartment is $1600.  Rent has essentially tripled since I left.
I spent eight years serving the country where I no longer can afford to live.  

So, the Golden Age for America?  The American Dream is isn't even on life-support - it's a dead rotting corpse.  
And the American citizens are bent over a Trump stump and are given a golly good rogering by the wealthy including Trump.  

Yeah, it's a Golden Age for Trump, his family, and his friends as well as Congress and the Senate which manufactures millionaires on a congressional salary.  F**k the rest of us and especially US veterans. 

I believe many of the things Trump is doing/trying to do will make life in the US more affordable. 

[Yagoda]

1 hour ago, connda said:

Car 54.  Haven't thought of that for years. 

I used to watch it. Anyone remember Reed Hadley in Racket Squad?

 

They pat you on the back with one hand and pick your pocket with the other.

 

One of the best mottos of life

[JimGant]

16 hours ago, Patong2021 said:

The sad reality is that the USA has a dangerous amount of debt.

Define dangerous. We don't really know what that number is. But we do know that a better measure of a debt's problem is its ratio to GDP. For the US, the latest number is 122%. But Japan's number is 255%; and Singapore's, 168%. Does anyone really think these economic powerhouses are headed over the cliff? 

Anyway, we really don't know if a few extra Ford class aircraft carriers will be worth the extra debt. But the debt/gdp ratio will still be within what's been a manageable level for developed countries. 

 

16 hours ago, Patong2021 said:

We are watching the decline of the USA, and if there is not an immediate and significant shift in fiscal policy, the end of the USA as a leading world economic power.

Gloom, doom, and barf burgers. 

[gamb00ler]

16 hours ago, JaxxBKK said:

What an epic website for economic analysis 👍

yes indeed for the wine biz .... but did you notice they stayed in their lane?   The know the wine business and said absolutely nothing about anything outside it.

 

You're just a vapid supporter of this insane administration and are obsessed with criticizing any comment that may vaguely disagree with its policies.

 

Most of us recognize you don't have a lane so you just wander aimlessly from topic to topic.

[Yellowtail]

10 minutes ago, gamb00ler said:

yes indeed for the wine biz .... but did you notice they stayed in their lane?   The know the wine business and said absolutely nothing about anything outside it.

 

You're just a vapid supporter of this insane administration and are obsessed with criticizing any comment that may vaguely disagree with its policies.

 

Most of us recognize you don't have a lane so you just wander aimlessly from topic to topic.

In all fairness it was the guy that posted the link that got out of his lane claiming it was more than it was. 

 

I think we can all agree that tariffs on imported wine will hurt wine importers, and likely more than it will help domestic wine producers. 

[StandardIssue]

 

It might happen! Terrible businessman.

 

He's pretty good at bankrupting the most difficult business to bankrupt. The Casino Business.

 

Trump Taj Mahal:

• Grand Opening, Quick Bankruptcy: Billed as the "eighth wonder of the world," the Trump Taj Mahal opened in 1990 after costing over $600 million to build, largely financed by junk bonds with high interest rates. It filed for bankruptcy just a year later in 1991.

[Lacessit]

1 hour ago, StandardIssue said:

 

It might happen! Terrible businessman.

 

He's pretty good at bankrupting the most difficult business to bankrupt. The Casino Business.

 

Trump Taj Mahal:

• Grand Opening, Quick Bankruptcy: Billed as the "eighth wonder of the world," the Trump Taj Mahal opened in 1990 after costing over $600 million to build, largely financed by junk bonds with high interest rates. It filed for bankruptcy just a year later in 1991.

Casinos are a business where people line up to give you money.

 

It's like going broke owning a brewery.