Quote:
Originally Posted by fibonacci
Funny how Trump and his supporters pumped the economy and the stock market. Now the entire thing is crashing overnight. It's easy to juice the economy on sugar highs of some tax cuts and rate cuts, but look at what happens when the temporary high ends. The crash is hard. Companies thought the economy could only go up and up and up and fueled their spending with record amounts of corporate debt due to very low interest rates. Uh oh, now they're all screwed by both huge supply shocks and demand shocks. Their balance sheets are going to explode with debt that they won't be able to pay, which mean jobs losses are coming.
So what exactly does Trump have to show for 4 years of 'brilliant' work? He's blown up the deficit by giving out tax cuts when they weren't needed. The deficf will now get even worse because he wants even more tax cuts now that's economy is tanking, and deficits will get worse due to decreased tax receipts. He's mired in a never ending trade war he doesn't know how to get out of. He has made the US a laughing stock by pulling out of the Iran, Paris, and Asian deals. He's completely bungled the pandemic response, and the US still doesn't have good testing even though a country like South Korea could do it.
The only thing Trump creates is chaos. His luck has finally run out and he will no.longer be able to campaign on a platform of a good economy. Worst president ever.
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All I can say is the last 4 years have been incredible for my wife's career (finance) , mine has done well, our investments have done well, and our home value had gone up enough we decided to sell and buy a new home. Up until COVID hit , we've had an exceptional 4 years. We couldn't have picked a better time to move away from the city and the insanity that has been going on. We are now 40 miles away from it and our subdivision all has 2 acre or more lots. We couldn't be happier.
I will say though, it was ramping up from the disaster that was '08...spent a year out of work. So it can only go up from that , although, I still haven't made it back up to my pre '08 salary. Things are still well though.
Trump will be getting our votes, no need to change things.
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