TRUMP EFFECT: RECORD HOLIDAY SALES NEAR $600 BILLION; Expert: Spending Pace Not Seen Since Great Recession (spokesman, Clinton)

[BajanYankee]

Originally Posted by WaldoKitty

I don't click on link only posts.

Sounds like you don't have a response to what I said.

I quoted an article. 401k balances are included in national savings. Americans are generally crappy savers. Most Boomers are not prepared for retirement. This will be one of the largest crises the country will face since we're going to have a lot of seniors on the dole, resulting in increased government spending, and an electorate unwilling to endure tax increases. We will have fewer resources to address all the other problems we face (infrastructure, climate change, etc.).

[Fleet]

Originally Posted by DiamondDog

The first Christmas after Obama was elected? You can't be serious. Bush had just crashed the economy.

Bush crashed the economy? How?

[Hoonose]

Originally Posted by BajanYankee

This is a false binary. You can consume and not have a low savings or even a negative savings rate.

Of course you can. We rich live our lives this way.

But the poor can't save, and so it is up to the broad middle class. If they all save they can't spend. Much. And the economy doesn't like that.

[okcthunder1945]

Originally Posted by WaldoKitty

But still true.

It is true that Obama is a senator. Good job!

[BajanYankee]

Originally Posted by Hoonose

But the poor can't save, and so it is up to the broad middle class. If they all save they can't spend. Much. And the economy doesn't like that.

Sure. Things ended well the last time savings were this low.

[Eli34]

Originally Posted by WaldoKitty

After it collapsed under Obama resulting in millions of middle class jobs disappearing and millions more being put out of their houses.

It had no place to go but up.


Thankfully Trump's first year was the exact opposite of this.

The economy collapsed under Dubya Bush and you know it. Don't try to rewrite history to make it fit your wishful thinking.

I'm personally getting ready for the next Republican Great Recession, because we all know it's coming.

What is Trump doing to prevent that?

[Hoonose]

Originally Posted by BajanYankee

Sure. Things ended well the last time savings were this low.

If the middle class isn't buying and selling homes it all goes to sht. If overblown as in 2008 it can of course go the other way. Especially if boosted by various layers of fraud and deceit.

[emcee squared]

Originally Posted by WaldoKitty

Let's see.

• Obama - "borrows" $850,000,000 from future taxpayers to fix economy. Money is wasted on foolish projects, political hacks are enriched, nothing to show for it.

• Trump - eliminates numerous Obama era regulations and overhauls tax code in historic manner. Economy "generates" $650,000,000 just from Christmas season.

This speaks for itself.

How many dollars did the economy generate in christmas seasons prior to President Trump?


https://nrf.com/blog/holiday-retail-...4-percent-2016

My link says $655.8b. How much does the tax overhaul cost us?

[Hoonose]

Originally Posted by Eli34

The economy collapsed under Dubya Bush and you know it. Don't try to rewrite history to make it fit your wishful thinking.

I'm personally getting ready for the next Republican Great Recession, because we all know it's coming.

What is Trump doing to prevent that?

Creating middle class jobs and deficit spending, both tend to be inflationary. We might not crash during Trump.

[Eli34]

Originally Posted by Fleet

Bush crashed the economy? How?

He didn't do anything to slow the housing and financial bubbles which exploded in his face.

You slow economic bubbles down with regulations and tax increases. Bush did the opposite and made worse.

Same thing is happening under Trump, doing nothing to prevent another huge crash.