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Micha_Elyi • 4 years ago

To be Donald Trump one must simultaneously believe two contradictory things, the US economy is doing great again and the Federal Reserve must immediately open the money spigot (i.e., slash already historically low short-term interest rates) in order to rescue the economy.

Yep, Trump has tweeted both in the past week.

Peddler • 4 years ago

The liberal and Democrat controlled media, print and broadcast plus the entertainment industry are happily soiling their underwear over the prospect of a recession. They cannot contain their emotions or bodily functions they are so filled with gleeful anticipation of a downturn in the economy. When Maher and his ilk foment publically for a recession, you know it has already spread across their ideological platform.

The very ones who are happily anticipating or rooting for a recession are the very ones who won't be affected by it. In the comments section of the NYT about the possibility of a recession, it is amazing that it is a 99-1 vote in favor of a recession as long at it will bring about the defeat of Trump in 2020. But then again, other than a few conservatives like myself who subscribe to the digital NYT to keep up with the enemy, it is these people who are comfortably set for life who are also rooting for a recession.

I challenged them on the impact one would have on the residents of "flyover" states that had voters who did not support Trump and how it would affect them. They could care less, they only want Trump out of the White House and Democrats take over POTUS and Congress by a large plurality. They want another bite at the apple like they had when Obama had a super majority but squandered it away and didn't implement all of their socialist agenda.

Let them continue to root for a recession and do so publically. This way the voters who have not decided or were swayed to vote against Trump will stop and think about how a deep recession will hurt them and their families. If anything, the conservative sites should be heralding loudly the desire for the opposition to throw this country into economic chaos so they can turn the USA officially into a socialist run country with Sanders and his fellow travelers in charge. Can you imagine AOC as the head of financial matters for the USA? Nightmares abound even when the thought passes through my mind.

2old2care • 4 years ago

The communists all want a recession for two reasons; one, it will help defeat the devil (in their minds) Donald Trump, two, it will make the proles more beholden to the government for handouts. If they cannot drum up a recession with their rhetoric before the election, look for their policies to create one (if not a true depression, remember, the kenyan came close) if they win the White House.

Micha_Elyi • 4 years ago

I expect that Mr. New York City Values, super-RINO Donald J. Trump, will beat the Dems to the handout bandwagon. Already, the Trump administration is talking up a temporary abatement of payroll taxes.

2old2care • 4 years ago

So you equate allowing working people to keep their money with handouts to those who do not work? How very communist of you, and so typical of the denizens of the democratic plantation that never have and never will work.

Micha_Elyi • 4 years ago

Read my words more carefully, bubbie. You fail at reading my mind.

jao44 • 4 years ago

Think of all those broken hearts dems (the jury is still out on whether dems have a heart to begin with) will suffer if the United States doesn't end up with a recession, better yet, a full on depression. They might have to howl at the moon yet again.

Jean Luc • 4 years ago

Does anyone really believe a concerted effort between the press and the Dems couldn't produce a recession?

Dave_from_Florida • 4 years ago

We have the biggest economy in the world but by no means the best at least not by GDP growth. China is still saying their GDP is growing at 6% while ours is growing at 2%. The trouble is the rest of the world is slipping into recession with Germany saying they are preparing for a deep recession. Germany has in the past been the most economically honest country in the world but they like the rest of the world having accumulated massive debt and low interest rates have no ability to avoid it which is why they are saying "deep". I've looked and can't find any time in the history of the US where the rest of the world went into a recession or depression and the US didn't. As a matter of fact some of the most severe worldwide downturns started in Europe. A recession may not happen before the election and that doesn't matter because Trump was losing to the top dems when the markets were at record highs. The reason is most Americans in flyover country aren't in the markets and don't see their economies as all that great, like the farmers. A recession is coming and they are normal and healthy for a stable economy and artificially delaying the inevitable will only make it worse no matter who wins next year.

Micha_Elyi • 4 years ago

Germany, because its economy is hitched to the Euro, is being dragged down by the PIIGS countries. Their national balance sheets are still in the soup.

Dave_from_Florida • 4 years ago

I don't believe that is so any longer. Outside of Italy the other PIIG countries are doing OK, not great because no country in Europe is doing great but not as bad as Germany is. Germany makes more stuff that's sold worldwide so any slowdown in people buying their stuff around the world will affect them harder than the other Euro countries. Germany is like a giant sinking ship and when she goes down she will suck everyone down with her.

Triggered Millenial • 4 years ago

China is still saying their GDP is growing at 6%

*emphasis added

QED • 4 years ago

16 Aug: Sen. Charles Grassley says farmers were "screwed" by Trump's decision to allow some refineries to not blend ethanol with gasoline as required under federal law.

During a taping of Iowa Public Television's "Iowa Press" program Friday, Grassley was asked his thoughts on 31 refinery exemptions the Environmental Protection Agency issued and approved after a review last week. He responded: "Trump screwed us.". President Donald Trump promised farmers , who largely supported him in the 2016 election, he would support ethanol production.

GlobalTrvlr • 4 years ago

Time to wean farmers off of ethanol. Do it over 10 years, but there are other markets for the corn. It is a costly subsidy that absolutely no one wants any more except for the farmers, the chemical companies refining it and the politicians enabling them.

Jeffersonian • 4 years ago

When I had my business, which had to do with packaged goods products, I always looked for one indicator that was a precursor to a recession . . . . warehouse inventory trend. I still look at that time to time and the last time I looked inventories were stable and still growing.

No recession in sight.
Sorry llbs to spoil your party.

Dave_from_Florida • 4 years ago

If people are buying things it's good, if they're buying those things with plastic it's not so good especially in the long term. The only reason the world economies aren't down for the 10 count is because of the $100T+ in debt created after the Great Recession but that isn't sustainable.

Jeffersonian • 4 years ago

No doubt we are headed for more bubbles: plastic and college loans.
Those are systemic problems which only get ugly when they are no longer sustainable which happens when we face a recession. Kind of like a ponzi scheme . . . sustainable until there is no more money . . . kind of like social security the only legalized ponzi scheme.

Dave_from_Florida • 4 years ago

I saw where Chase forgave everyone's credit card debt in Canada. They hadn't issued cards there in 5 years and those people who owed money were either delinquent or had their cards maxed out and paying the minimum. Eventually the same thing is going to have to happen all over the world because the expectation that all of the $150T in worldwide public and private debt will be repaid is laughable.

Jeffersonian • 4 years ago

Funny story. About 12 or 15 years ago I paid off and got rid of all my credit cards. I had paid off the house mortgage. And the cars I had were all bought and paid for. I had no debt. I think it was 5 years ago, my wife wanted this new Lincoln MKZ but I didn't want to buy it. So I put in for a 2 year lease in case she ended up not liking the car.

I was rejected. My FICO score was zero. Because I had no outstanding debts.

That is a clear indication of how screwed up our system is.

Dave_from_Florida • 4 years ago

That is true because I'm in a similar situation. I have zero debt, own my house free and clear, and one credit card that I only use for online purchases and guarantee hotel rooms and pay it off in full each month. My credit score is 815 but only because I use credit but pay it off quickly. I've been told if I didn't use the card it would be in the 500's. I could actually get by with no credit but anymore you have at least one card to shop online.

Laurel • 4 years ago

Actually that is a key indicator and you are right to do so.

Laurel • 4 years ago

I see Massachusetts is more royalist than American as they keep doing the same thing over and over again while expecting different results. You would never know Massachusetts lead the freedom charge along with Virginia to create this country.

Some clothing despite repeated washings will still cause dermatitis due to the dye process especially denim. If you have clothing that still bleeds after multiple washings and you are susceptible to skin rashes then chuck that clothing.

Why doesn't the NY cop surprise me? The union will protect her.

Mayor Pete is the next little-man-syndrome totalitarian waiting to happen. He is the most dangerous Democrat of them all.

Anyone else sick of Bill Maher?

jao44 • 4 years ago

If Maher would drop dead on live television from all his hate, I might watch.

Laurel • 4 years ago

Same here.

Me2 • 4 years ago

Maher is too nasty for my taste, but he is an actual liberal, not a Marxist.
As for the NY cop, shoplifters come in all walks of life, even the rich. Sometimes it is a compulsion. Other times it is just greed.

Laurel • 4 years ago

P.S. No he is not a liberal. He is a communist. But he is also Jewish and atheist which is why he spoke against Tlaib.

Laurel • 4 years ago

Maher is flat out repulsive. I don't care if he is a blind squirrel that finds an occasional nut. He is exhibit A to the coarsening of the culture. He is a selfish self centered SOB.

He is in my top ten list of people I would most like to punch.

Laurel • 4 years ago

P.S. I don't see a recession but recessions are always inevitable especially with the amount of political interference in our economy including the media.

SouthTexas • 4 years ago

BEN WHITE 10/21/2016 02:46 PM EDT
NEW YORK — Wall Street is set up for a major crash if Donald Trump shocks the world on Election Day and wins the White House.

Heard this before...

Micha_Elyi • 4 years ago

Who is Ben White and why should I care about his opinion?

SouthTexas • 4 years ago

I just picked the first one that came up, there were countless other predicting imminent doom if Trump was elected. Now it's SSDD.

https://www.politico.com/st...

2smartforlibs • 4 years ago

Think about it. WHere can you invest if not the US? Europe and Asia are in the tank. Like it or not America is that only economy growing.

Guest • 4 years ago
T Bone Malone I • 4 years ago

Amazing how the media was able to convince his sycophantic supporters he was successful. There wasn't ine metric that improved under him outside the QE3 stock market. Just imagine if Obama hadn't quantitative eased every single month? His "presidency" was a disaster.

cxt • 4 years ago

And even that puts Lefties/Democrats in a serious bind.

The party of the Little Guy and they helped out Wall Street Fat Cats and the 1%'er.

TheMac (Trump lost FDT) • 4 years ago

Recessions are inevitable. This has been the longest stretch of expansion ever, So we're certainly due. But while most recessions can be attributed to the normal boom and bust nature of the economic cycle, the next recession may prove entirely premature and completely attributable to this president and the strategy-less whizzing contest he's gotten us into with China. He knows it. And he's spooked by it. We shall see. Buckle up!

Neo Conscious • 4 years ago

What a crock. Sounds like more wishful thinking by a typical despicable liberal.
The "longest expansion ever", yet a possible recession now "premature"?
The yield curve's inversion isn't the recession predictor it used to be. The drop in Long-Term Treasury yields is mostly due to non-American investor's concerns about the rest of the world going into recession by having to compete with us on a level playing field, and they want a secure investment in a more reliable currency like the US dollar.

Micha_Elyi • 4 years ago

"The yield curve's inversion isn't the recession predictor it used to be."

I agree. When passbook savings interest rates return to 4% and 30-year mortgage rates float above 6%, then I'll start worrying about inverted yield curves again. Right now, interest rates on automobile and home appliance purchase loans don't seem to be holding anybody back. Even a rise of a percentage point or two probably would have little effect on consumer durable goods purchases.

TheMac (Trump lost FDT) • 4 years ago

I hope the yield curve isn't the bellwether it once was. And I hope to avoid a recession for as long as possible. But am I concerned. The global downturn in the manufacturing sector is already happening. Business investment has slowed to a crawl. GDP growth and jobs growth is slowing. So there are definitely signs that the economy could be losing steam.

GlobalTrvlr • 4 years ago

The yield curve has never been a bellwether. Go back and look up when it has inverted. Recessions did not automatically follow and when one happened to it might be two or three years after the inversion - even after the inversion had corrected. This is all so much BS put out by media that no nothing about economics. There is little correlation between the yield curve and recessions. All it is is that some people expect the market to go down over the long term, so they are buying a lot of 10 year debt.

TheMac (Trump lost FDT) • 4 years ago

I've read that it correctly predicted the four previous recession before it was invented in 1986, and the three most recents ones after that. Fluke? Maybe. We shall see.

GlobalTrvlr • 4 years ago

It did not "correctly predict" anything. A few times it happened sometime in front of a recession. Sometimes more than a year in advance but they count it. A very weak correlation at best. Other times it happened and no recessions happened.

Thess • 4 years ago

The trade war has created uncertainty in the market, and whenever their is uncertainty, corporations are hesitant to invest in new capital projects. It's foolish to spend millions of dollars to build a new factory without being certain you will turn a profit.

Without new investment the economy slows down, fewer jobs are created and unemployment begins to rise. We are starting to see that. Paychex and other HR companies are showing signs that the number of hours worked per employee is decreasing. Since so many employees are part time these days, hours worked / week is an important statistic.

The best way to keep the economy on track is to make a long term trade deal with China and create a better climate for new business ventures.

Micha_Elyi • 4 years ago

"The trade war has created uncertainty in the market..."

True. One of the battles in the 2020 election will be between the Stay the Course faction and the Let's End This faction.

Guest • 4 years ago
T Bone Malone I • 4 years ago

It's truly sickening that lefties would rather gain power than have a thriving economy. They are very sick people.

Dschwarpa • 4 years ago

They hate Trump more than they care about the American people who would be hurt by an ACTUAL recession.

Me2 • 4 years ago

That's how hatred works. "Hatred is a gift of misery you give to yourself."

Paul Izzo • 4 years ago

Crediting Obama for the state of the economy is the most dishonest reporting. The Donald reversed Obama's policies to spur growth.

The Bush 41 economy was not that bad. Clinton exaggerated how bad the economy was and was not corrected. Business cycles naturally occur. The Donald won't make the same mistake as Bush 41.