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Old 09-14-2019, 12:39 AM
 
Location: Texas
37,937 posts, read 17,805,641 times
Reputation: 10366

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Quote:
Originally Posted by timfountain View Post
Doesn't he keep telling us "how well we are doing, fantastic, the economy is best in the world"? If so who do we need to run up more debt propping up his cronies in wall st and mega corporations.
Yes, just like the last guy did. The only thing that has changed is the hand picked winners and losers.

Quote:
Originally Posted by timfountain View Post
Oh, er, yes, I think I just answered my own question. The re-distribution of wealth into the hands of a few 'chosen ones' is in full swing.
Full swing? lol I think the bailouts were the full swing. This is just tying up loose ends.
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Old 09-14-2019, 12:42 AM
 
Location: Texas
37,937 posts, read 17,805,641 times
Reputation: 10366
Quote:
Originally Posted by subaru5555 View Post
It’s corporate welfare (corporate socialism), on the taxpayer’s dime.
Just like the bailouts were right after the crash. Nothing has changed except the hand picked winners and losers.
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Old 09-14-2019, 12:51 AM
 
Location: Metro Detroit, Michigan
29,699 posts, read 24,780,162 times
Reputation: 28385
I'm not sure about what "bailout" you are talking about. From what I know, Trump wants interest rates to remain as low as possible, just as they were when Obama was president. Trump is being realistic about what is best for America and it's people. Nothing good is going to come to the average American if interest rates continued to rise, as the Fed was attempting to do not too long ago. The country and it's people are deep in debt. What will happen if interest rates rise is the interest payments on all that debt will also rise. Bankruptcies would sore. States like Illinois, and cities like Chicago would be doomed.

I would like to see interest rates rising to healthy levels, but I don't think our economy is healthy enough to sustain that. Our situation is not really unique. A lot of people around the world are in debt for various reasons. Corporations and businesses are carrying a lot of debt. If interest rates rise, things would get challenging in America, but far more challenging in most other parts of the world. The decisions the fed makes have a huge impact on global markets. I think the rest of the world also wants to see interest rates in the USA remain low. It seems to have a positive impact on emerging market economies.

As far as tax cuts for the middle class, I'm not sure how anyone can take a position against that. Again, emerging economies benefit from middle class consumers having money to spend. Take that away, and the rest of the world circles the drain. Like it or not, the world economy depends heavily on consumer spending. Credit card spending and debt creation can only go on for so long, and I suspect we are at the end of that cycle.
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Old 09-14-2019, 01:11 AM
 
Location: Out there somewhere...a traveling man.
44,590 posts, read 61,412,482 times
Reputation: 125657
Despite his promises, Trump pushes deficit past $1 trillion mark
Despite his promises, Trump pushes deficit past $1 trillion mark | MSNBC
The U.S. economy has been growing for 10 years as of July, the longest economic expansion on record. Yet annual U.S. deficits are on track to exceed $1 trillion starting this year, due in part to the 2017 tax law, which constrained federal revenue collection last year, and a 2018 budget deal that busted spending caps enacted in 2011.

Make America's deficits great again
https://thehill.com/opinion/finance/...ts-great-again
Two and a half years into his term, President Truhas little to show for breaking with erstwhile Republican Party orthodoxy on trade and budget policy.

Indeed, far from delivering on his promise to cut America’s trade deficit, Trump has presided over a ballooning deficit that’s on pace to be some 25 percent higher than when he took office. This is happening at a time when the budget deficit is widening and the country’s public debt is well on its way to exceeding 90 percent of GDP.

Sadly, the Trump administration seems unfazed by the country’s deteriorating long-run financial position. It shows no indication of correcting policy course to put the economy on a sounder long-run economic footing. This makes it all too likely that the country’s incipient twin deficit problem will only worsen in the remaining 18 months of Trump’s first term. That in turn will further mortgage the country’s economic future and diminish the U.S. dollar’s attractiveness as an international reserve currency.
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Old 09-14-2019, 02:16 AM
 
814 posts, read 668,767 times
Reputation: 253
Quote:
Originally Posted by andywire View Post
I'm not sure about what "bailout" you are talking about. From what I know, Trump wants interest rates to remain as low as possible, just as they were when Obama was president. Trump is being realistic about what is best for America and it's people. Nothing good is going to come to the average American if interest rates continued to rise, as the Fed was attempting to do not too long ago. The country and it's people are deep in debt. What will happen if interest rates rise is the interest payments on all that debt will also rise. Bankruptcies would sore. States like Illinois, and cities like Chicago would be doomed.

I would like to see interest rates rising to healthy levels, but I don't think our economy is healthy enough to sustain that. Our situation is not really unique. A lot of people around the world are in debt for various reasons. Corporations and businesses are carrying a lot of debt. If interest rates rise, things would get challenging in America, but far more challenging in most other parts of the world. The decisions the fed makes have a huge impact on global markets. I think the rest of the world also wants to see interest rates in the USA remain low. It seems to have a positive impact on emerging market economies.

As far as tax cuts for the middle class, I'm not sure how anyone can take a position against that. Again, emerging economies benefit from middle class consumers having money to spend. Take that away, and the rest of the world circles the drain. Like it or not, the world economy depends heavily on consumer spending. Credit card spending and debt creation can only go on for so long, and I suspect we are at the end of that cycle.


We're already at historical low interest rates. Dropping them to zero gives us the same climate Europe is in. Banks won't loan money out to create the circulation necessary if there's no interest.

Also if there's zero interest rates with job numbers where they are it will accelerate a huge capital flight problem sucking money out of the system. This fear will create even more job cuts, real estate inventory will soar, and the market will tank. Big business is not going to inject big money into the record expansion cycle we're in.

Zero interest rates and QE is a temporary bailout for the upper class to create short sighted volume for Trump's campaign nothing more. The rolled over interest on our debt would stretch it out for many presidents to come. Luckily Trump appointed Powell isn't playing the game so far. Imo we will fire up the printing press and inject QE and most likely see zero interest rates but that will be when unemployment rates get up over 10% and post '08-'10 levels.


I'm not against middle class tax cuts, but I find it hard to believe he can offer them when he's holding a record deficit. And the fact that he announced it yesterday when they had the debates it just appears like an ego driven publicity stunt for his campaign.
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Old 09-14-2019, 03:48 AM
 
Location: AZ
3,321 posts, read 1,095,343 times
Reputation: 1608
Quote:
Originally Posted by Loveshiscountry View Post
Just like the bailouts were right after the crash. Nothing has changed except the hand picked winners and losers.
That still doesn’t make it right. What happened to small government and the “free market”?
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Old 09-14-2019, 04:38 AM
 
Location: Metro Detroit, Michigan
29,699 posts, read 24,780,162 times
Reputation: 28385
Quote:
Originally Posted by NorCal77 View Post
We're already at historical low interest rates. Dropping them to zero gives us the same climate Europe is in. Banks won't loan money out to create the circulation necessary if there's no interest.

Also if there's zero interest rates with job numbers where they are it will accelerate a huge capital flight problem sucking money out of the system. This fear will create even more job cuts, real estate inventory will soar, and the market will tank. Big business is not going to inject big money into the record expansion cycle we're in.

Zero interest rates and QE is a temporary bailout for the upper class to create short sighted volume for Trump's campaign nothing more. The rolled over interest on our debt would stretch it out for many presidents to come. Luckily Trump appointed Powell isn't playing the game so far. Imo we will fire up the printing press and inject QE and most likely see zero interest rates but that will be when unemployment rates get up over 10% and post '08-'10 levels.


I'm not against middle class tax cuts, but I find it hard to believe he can offer them when he's holding a record deficit. And the fact that he announced it yesterday when they had the debates it just appears like an ego driven publicity stunt for his campaign.

Low interest rates are having a big impact on keeping the economy chugging along. I'm not sure what you would prefer. If interest rates rise, and the economy cannot sustain it, there could easily be a liquidity crisis. That would benefit almost no one, except for the upper class who will still have plenty of cold hard cash on hand. They would proceed to buy everything up for pennies on the dollar while everyone else is declaring bankruptcy and seeing their future hopes and dreams erode. It would be a repeat of 2008 basically.

But a whole lot of democrats seem to be hoping for a crippling recession, so the rest of American can endure a TDS sufferer's level of misery. It's no wonder so many dems are critical of the low interest rates, and want to see them rise to the moon all of the sudden.
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Old 09-14-2019, 05:27 AM
 
21,382 posts, read 7,902,269 times
Reputation: 18149
Quote:
Originally Posted by timfountain View Post
Indeed, we have a crazy, old, mentally impaired, narcissistic, racist, self-serving, nepotistic, egotistic, corrupt, thin-skinned man-child pretending he knows what he's doing. Oh yes, that's so much better. What on earth makes you say things like this? It really does make you sound very unpatriotic and hating of your country. If that really what you want to portray? SMH
just like every other president.

nothing new here. except one team lost and the other team one, so losers lose and winners win and that's all that really mattered. until the next super bowl, um, I mean election.
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Old 09-14-2019, 05:43 AM
 
Location: Texas
37,937 posts, read 17,805,641 times
Reputation: 10366
Quote:
Originally Posted by subaru5555 View Post
That still doesn’t make it right. What happened to small government and the “free market”?
I keep asking republicans that but, as a group, most are too busy spending my money enlarging their coffers and government at the same time.

The conservatives are a minority.
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Old 09-14-2019, 05:48 AM
 
Location: Unperson Everyman Land
38,625 posts, read 26,307,471 times
Reputation: 12635
Quote:
Originally Posted by subaru5555 View Post
That still doesn’t make it right. What happened to small government and the “free market”?
Federal spending a function of GDP is down...

https://fred.stlouisfed.org/series/FYONGDA188S


What does the free market have to do with China trade?
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