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Old 08-16-2019, 02:51 PM
 
30,192 posts, read 15,702,298 times
Reputation: 20343

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Quote:
Originally Posted by donsabi View Post
Sorry trumpsters, the credit for the economy in the first two years of any president is the direct result of the effort of the previous president and administration.
WRONG!!!!

It doesn't make a difference if business expects "business as usual" from a new POTUS, but if there will be significant changes, it can have an almost immediate impact on the economy.


If a new president has been talking about raising business taxes, increasing the minimum wage, etc. businesses will take that into account and adjust accordingly. They will do things like hold off on hiring and spending on new equipment which will impact the economy. They will hold off on acquisitions and new domestic facilities.

A new POTUS pushing to reduce taxes and regulations will generally spur business activity which impacts the economy.
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Old 08-16-2019, 03:47 PM
 
Location: Texas
27,064 posts, read 11,366,097 times
Reputation: 6235
Quote:
Originally Posted by GotHereQuickAsICould View Post
BS

Bill Clinton (D) left office with a $127 billion surplus and was projected to pay off the national debt in 10 years.
Quote:
Originally Posted by Tall Traveler View Post
Bill Clinton (D) left office with a $127 billion surplus and was projected to pay off the national debt in 10 years. REPUBLICAN CONGRESS

Did you take 6th grade civics and learn that Congress passes the budget and the President either signs or doesn't?
Did You?

That anyone believes we had a surplus when the debt grew is silly.

Clinton did not leave with a surplus. We borrowed from Social Security. Borrowing new money to pay off old loans and calling it debt reduction. lol We have sizeable budget deficits, increased the national debt by hundreds of billions of dollars, then use trust funds to meet expenditures and claim surpluses?????

The federal government spends Social Security money and other trust funds which constitute obligations to present and future recipients and it incurs obligations as binding as those to the owners of savings bonds.

Yet, the Treasury treats them as revenue and hails them for generating surpluses. If a private banker were to treat trust fund deposits as income and profit, he would face criminal charges.



Look who was in Congress during those times.
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Old 08-16-2019, 03:50 PM
 
Location: NE Mississippi
13,876 posts, read 8,721,862 times
Reputation: 20195
Quote:
Trumpenomics is a failure
... I am so sorry that you haven't been able to find a job. Keep looking; someone will hire you.
Meanwhile, everyone else is happy. Trump's approval on the economy is at 52.6%, with 42.7% of the people disapproving.
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Old 08-16-2019, 04:14 PM
 
38,806 posts, read 15,213,563 times
Reputation: 25139
"The money was all appropriated for the top in the hopes that it would trickle down to the needy."

"Mr. Hoover didn’t know that money trickled up. Give it to the people at the bottom and the people at the top will have it before night, anyhow. But it will at least have passed through the poor fellows hands."

Will Rogers nailed it.
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Old 08-16-2019, 04:26 PM
 
19,586 posts, read 17,633,792 times
Reputation: 10702
If Trump has been able to screw the banks over at their own game, that is something to be impressed by. Likewise he made monkeys out of the DC power elite of both parties which again is impressive.
And the economy is rolling along. The simpletons and kook dem candidates will most likely derail the recovery not wanting it to strengthen. Can't have people looking to the government for help if times are good.
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Old 08-16-2019, 04:29 PM
 
38,806 posts, read 15,213,563 times
Reputation: 25139
The economy is not rolling along. Stock market has been stalled for about a year, Dow Jones has made some sharp declines recently. The federal deficit doubled. The Trump promised GDP of 4% - 6% never happened.

Trump has screwed over the farmers, but the bankers are doing just fine.
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Old Yesterday, 01:00 PM
 
46,367 posts, read 18,342,941 times
Reputation: 19327
Quote:
Originally Posted by GotHereQuickAsICould View Post
The economy is not rolling along.....
Yes it is. The economy is absolutely booming here in North Carolina.
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Old Yesterday, 01:26 PM
 
Location: Ohio
20,170 posts, read 14,375,337 times
Reputation: 16363
Quote:
Originally Posted by GotHereQuickAsICould View Post
Well, this is just malarky.

Trump has done all sorts of things that Obama didn't do.

The payday loan tax giveaway to corporations and launching a tariff war with China come immediately to mind.

Obama did neither of these.
And neither of those things have anything to do with "trickle-down."

Tariffs aren't even part of the theory.

"Trickle-down" is just a phrase you heard and don't understand, but you think it makes you look cool.

If you want to educate yourself so that you don't continue to be ignorant and spiteful, then read Smith, Say, Locke, Hume and Montesquieu, and in particular Smith's An Inquiry into the Nature and Causes of the Wealth of Nations.

Since those works are probably way over your head, I'll summarize the key points.

Smith defined wealth as goods and services, not as money. Money in Smith's day was gold and silver.

A State was wealthy if it produced a lot of goods and services -- again, wealth is not money it's goods and services.

Smith argued the need to focus on production to increase aggregate supply, which in turn increased the amount of goods and services produced, making a State wealthier and raising the Standard of Living for all the people.

Jean-Baptiste Say took Smith's idea one step further with Say's Law, which states that production and aggregate supply increase wealth and economic growth. Again, they're not talking about money when they say wealth, rather they're talking about goods and services that increase Standard of Living.

Because people produce solely for the purpose of consuming, you need to focus on production to increase aggregate supply, and ignore any focus on demand or consumption.

It was Hume, Lock and Montesquieu who argued centuries ago that tax policy impacts production which affects aggregate supply.

Smith actually alludes to that, but doesn't connect the dots.

Those are very old ideas that have worked for centuries.
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Old Yesterday, 01:32 PM
 
2,192 posts, read 799,944 times
Reputation: 2377
Bull****. The market has added nearly 10 trillion dollars since the election after a flat 2015-2016. Wages significantly outpacing inflation. Unemployment down, still adding jobs in a tight labor market. Growth up. Retail sales strong. Strong/strengthening dollar. Capex numbers have been high. Americans net worth is up across the board. Consumer, manufacturing, business confidence all extremely high. We’re better off by every measure, who ever wrote this article is extremely bias.
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Old Yesterday, 02:00 PM
 
11,071 posts, read 11,008,396 times
Reputation: 5444
Quote:
Originally Posted by Tall Traveler View Post
Our economy has been doing better since we elected a Republican Congress in 2010 but is now getting headwinds with a Democrat Congress with the same Speaker that precipitated the Global Financial Crisis.

One thing is certain, the current crop of Democrats would run the economy over the cliff and need to be bailed out by a Republican Congress again.
Tall Traveler telling tall tales again. Gop deficit spending and Trump's trade war is teeing us up for another nasty gop induced recession that will end up with a Democrat having to pick up the pieces again
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