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I just feel like the titles of the articles I referenced are out of touch with the goings on even within the articles, they come across as a recession is looming everyone hide your money in your mattress ASAP when that's far from true. Properly managed(interest rates need to be adjusted to curb inflation yet promote growth, individually if need be), I think we don't have to have recessions at all and that they are engineered for profit taking honestly.
So pknopp, how would you feel if I was a big media honcho and I wanted to buy a bunch of stock from a company you happen to have shares of in your retirement portfolio. I simply post an article titled "So and so's sales slid sharply in June" and watch it plummet. You or your account manager goes oh no better get out of that, and sells, then it drops some more. Then I would buy. Within the article through in the fine print that who knows how many people actually read, "sales are up 58% year over last", so it's really not a big deal....just had a flat month due to anything from sales people on vacation or products/materials being behind schedule. Next month posts more gains and big media man just made 25% profit in a month. It's supposed to be illegal, but it happens ALL THE TIME.
The media has nothing else to do until the new 2020 liberal handbook is
released, The DNC sends out fax's so there is no need to turn the channel
on the lap dog networks as just the faces change
If President Trump deleted all of his emails, wiped his server with Bleachbit (Like Hillary) and destroyed all of his phones with a hammer, would the Mainstream Media suddenly lose all interest in the story and declare him innocent. (Like Hillary)
Many financial media reports are doing the same thing !!!
Its like they are hoping for a downturn and every positive bit of news has to be spun to a negative !!!
There is a general concern among economists/financial folks that the economy has been adding jobs for 9 years and that we have been on the longest recovery ever ....so there is cautious speculation that we may be due for a bit of a slow down.
It isn't the 'media' -- it's generally accepted.
Longest recovery ever -- 121 months......wow.
I would love for it to continue but reality is reality and not assigning anything to Trump -- he hasn't steered this economy and it won't necessarily be his fault when it slows down.
(Doesn't the economy usually slow down a bit during an election year?)
Trump's tax reform did several things, feel free to correct me if I'm wrong:
1. The corporate tax rate was lowered, and needed to be to help things pencil/increase profits to be an attractive nation for corporations to do business within, in what is now a global economy.
2. Tariff's on China, which is a no-brainer. Ignored by multiple administrations for decades and along with such one-sided tariff schedules (typically was 1.9-2.9% for Chinese goods coming stateside, yet 16-17% for US goods going to China which are much more expensive already) has been gutting our country of it's manufacturing jobs for ~30 years while providing poor quality, poison, and unsafe items in many cases.
3. The standard deduction was increased, but deduction opportunities were reduced which effectively hits the rich with more taxes as they can't deduct as much on a personal level.
4. Middle class income tax rate was dropped 3%.
5. Tax incentives offered for equipment purchases. My workplace was afforded some new equipment thanks to this, it made us more competitive, busy, and we have more employees running it that were sitting at home half the years prior on UE.
With the decline of our nations manufacturing and job losses having spanned several decades, isn't it feasible that we could see decades of recovery/improvement with little to no recessions? Likewise, if these reforms are all reversed after all the re-investment, manufacturing returning to the US, equipment purchases, and the like, we could see a massive exodus of jobs and investment, along with the return of higher taxes, which is going to result in an economic crash that is going to make the great recession of 2007/2008 look like a cream puff.
As for an election year slowdown, sure it does. There is massive uncertainty due to exactly what I have written above, and corporations are proceeding cautiously and optimistically with investments but are keeping an eye on the exits should we return to our policies of the perpetual downward spiral of decades past. If there was a guarantee that we wouldn't return to our prior policies, think of what the recovery and investment levels could be?
Also other similar countries are doing worse than us. France, Germany, Japan, Italy, the UK have worse numbers coming in. They very well could drag us down.
These countries have some of the most expensive costs of living in the world and as a result don't manufacture as much as they used to and have become more "consumer" nations....which we have been learning about for the last decade ourselves and currently trying to escape the same slippery slope. Japan for example is more expensive than we are to build cars, that's why many Japanese brand cars are now built/assembled in the US and Canada.
Furthermore, our trade deficit with China on an annual basis is roughly equal to the sum of the deficit with the rest of the our major trade partners, so prior to the enactment of more tariff's most countries were enjoying about a 10% surplus in trade $$$$$$$ from the US that is ending, so our gain is their pain as we attempt to better balance trade.
The Media have never, IMHO, created a Recession......
However, car sales are off. Housing sales are stable or off. Prices everywhere I live are stable....projected to go nowhere (many are below the Great Recession prices).....
Purchasing managers Index (manufacturing) is lower than it has been since 2009...
The Fed has outright admitted things are NOT going as was planned.
The "Tax Reform" set us on an endless path to debt and deficit that will never be made up...yet did little good.
In the end what does it matter if we have a defined "recession". 40% of Americans aren't making it. 46% of Floridians aren't making it. Life spans are stable or decreasing.
What if they gave a Recession and no one came??
That's where we are right now. The "good times" - frankly, suck. Try to sell a boat or a vacation house in most places....not saying it's hopeless, but it's hard and the price better be right.
Recession? We're already at about 1/2 the normal market increases since "tax reform".......
The question is more "how are people doing - especially the forgotten man"...
Is a larger percentage of people insured?
Has net worth of the middle class and lower gone up much more than inflation?
Yeah it's a little naive to blame the media for reporting what financial experts are expressing as concern.
Is the role of media to ignore stories that don't support the conservative agenda?
They covered for Obama like no other president. When gas prices were high he was saving lives, but when the prices were high under Bush, he was paying off his oil buddies.
In reality no president has mush control over oil/gas prices, but the selevtive coverage and spin the media used was evident.
As it relates to this subject, when Obama was running up the debt like a drunken sailor, the MSM was barely saying a word.
Compare that with all the stories being run now about the massive debt under Trump.
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