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The economy

Discussion in 'BBS Hangout: Debate & Discussion' started by NewRoxFan, Aug 18, 2019.

  1. NewRoxFan

    NewRoxFan Contributing Member
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    The latest polling shows 49% approve of trump's handling of the economy.



     
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  2. NewRoxFan

    NewRoxFan Contributing Member
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    No Wonder the Economy Has Trump Spooked
    https://www.newyorker.com/news/our-...d4be3&cndid=26099613&esrc=&utm_term=TNY_Daily
     
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  3. ArtV

    ArtV Contributing Member

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    You can't keep spending more than you make. It's simple economics. When his tax cuts get repealed - and they will - it will tank the market and create another recession.
     
  4. KingCheetah

    KingCheetah Contributing Member

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    THE ECONOMY IS SO GOOD WE'RE GOING TO BUY GREENLAND!
     
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  5. foh

    foh Member

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    Chinese tariffs was just a ruse to get Chinese to give him a good rate on the mortgage loan for Greenland acquisition. Giddy up
     
  6. adoo

    adoo Member

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    we've already seen this, Trump's financial ties w China, being played out


    perhaps Wilbur Ross' wink and nod [that the HK protest is an internal matter] intended for China was triggered by the below-described developments---impacting the Trump org and its business partner---in Indonesia

    on Tue, Fredo Trump met w Trump Organization's business partner in Indonesia, billionaire Hary Tanoesoedibjo, a media and real estate baron and vocal Trump supporter who attended the president's inauguration, in connection w the construction of a resort on the island of Bali and a golf course and resort in the forests of West Java, south of Jakarta.

    The Trump Organization plans to manage the resorts and
    has licensed the president's name for the projects.​

    Hary's other project involves building a theme park near the Trump resort, It has been reported that both multi-billion $ projects are being financed by a Chinese state-owned bank. https://www.straitstimes.com/asia/s...ums-up-interest-in-indonesian-resort-projects
     
    #6 adoo, Aug 18, 2019
    Last edited: Aug 18, 2019
  7. Invisible Fan

    Invisible Fan Insider Newsletter™ 2X Diamond Member

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    He's a billionaire and raised a DILF.

    Instant Qualifications
     
  8. fchowd0311

    fchowd0311 Contributing Member

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    What is sad is that during a economic boom that we've experienced for the past 5 years, tax revenue is supposed to increase and the deficit should shrink. During reccesions, is when the federal government spends more money to stimulate the economy and where you expect to see deficits grow. It's the reverse under the GOP and their **** tax bill so when we do fall into a reccesion, the federal government is less equiped to alleviate recession woes because they were running a massive deficit during the boom.
     
  9. adoo

    adoo Member

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    don't co-mingle the Obama-led economy and the Trump one
     
  10. fchowd0311

    fchowd0311 Contributing Member

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    I'm not. During the boom under Obama, the deficit was actually shrinking.
     
  11. foh

    foh Member

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    Really? But I was under the impression that we haven't run trade surpluses in a long while..

    Edit: I guess I see what you are saying but it is still disingenuous because the deficits were artificially boosted when Obama came on with the bank relief. From what I have googled before, there isn't a great correlation with regards to deficits and political parties. Let's not deceive ourselves.
     
  12. fchowd0311

    fchowd0311 Contributing Member

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    [​IMG]
    I'm not reffering to a trade surplus. I'm reffering to the deficit shrinking.

    Trade surplus is a private sector thing. I'm referring to federal spending.
     
  13. rockbox

    rockbox Contributing Member

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    Whose talking about trade surpluses.
     
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  14. foh

    foh Member

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    I edited my response above (sorry, clumsy way to reply/talk). In this chart it appears that deficit remained unchanged from 2008 to 2016. So there is that
     
  15. fchowd0311

    fchowd0311 Contributing Member

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    You have to apply context. Democrat adminstrations don't increase deficit spending when the economy is in a economic boom. Pretty much any respectable economist understands that during s reccesion, deficit spending increases. And Obama became president like a month before one of the biggest economic crashes in American history.

    There should be no logical reason why deficit spending should increase during a boom.
     
  16. foh

    foh Member

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    I don't disagree, I am just saying that neither party cares about this all that much. Obama overall had GDP increase through his tenure, but deficit remained unchanged during the same time frame. Trump is currently on a worse trajectory. So let's get him out of office and become fiscally responsible. I'm all in :)
     
  17. fchowd0311

    fchowd0311 Contributing Member

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    [​IMG]

    Huh? You can literally see the deficit shrinking once we got out of the reccesion.
     
  18. foh

    foh Member

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    I'm talking about period before recession started (2008) to when Obama left office (2015-2016). GDP growth is through the roof during that period but deficit is unchanged and the debt increase itself is huge.
     
  19. fchowd0311

    fchowd0311 Contributing Member

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    So just erase all context of one of the worst crashes in American history literally a month after he was inaugurated. You do know what happens when the country goes into a deep crash and reccesion right? More people filing for unemployment, food stamps etc.

    The fact that the deficit is increasing when the unemployment rate is at 4% is absurd.
     
  20. foh

    foh Member

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    And you seem to be ignoring the fact that GDP took a slight dip for a year or two and then for ~90% of the time Obama was presiding over a big boom. And despite that was able to rack up trillions upon trillions of debt. Both Obama and Trump are fiscal populist in terms of their agendas.

    I'm not an economist - please direct me to a good source of economic analysis that says that what Trump is doing is much much worse than what Obama was doing.
     
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