Politics

[bob meadows]

My friend, you are so out of touch with average American, I can't even begin to list all the reasons, but statements like this above sum it up pretty good...

Even Americans with good jobs in multiple income houses are living paycheck to paycheck over the last 3.6 years... 3 in 4 Americans have no assets to speak of... Real consumer debt is at an all-time high in this country, and you are talking about mitigating inflation with real estate, equities, gold??? LOL...
You are either trolling me or you are really that oblivious to the real America?

the arrogance is directly related to the checkbook .......it always is. bob

 

[steve white]

The reason I explained things the way I did was to tie in the Dow. Let me rephrase so maybe it will make sense.
In order to buy the goods you bought for $100 in 2017, you'd need $110.55 in 2022(end of Trump's term)
In order to buy the goods you bought for $100 in 2021 (start of Biden's term) you'd need $116.17 in 2024.

However, $100 invested in Dow in 2021 (start of Biden's term) gave you $138.70 today. So, in reality one is ahead by $22.53 ($138.70 - $116.17) for the duration of Biden's Presidency.

Also, inflation today is 2.5% for the 12 months prior average. It was 2.1% in 2020.

As @Red Leg mentioned earlier, economy is no longer an issue in this election if people look at the facts and the whole picture.

Could it have been better if Trump had won in 2020? Who knows, it is easy to make suppositions in hindsight. We still would have had Covid shutdowns in various States as it was not solely a Federal decision.

My lying eyes tell me groceries, insurance, etc. are a lot higher than 2.5%--a LOT higher.

 

[Datchew]

My lying eyes tell me groceries, insurance, etc. are a lot higher than 2.5%--a LOT higher.

Who are you going to believe? The federal reports or your own lying eyes? LOL

 

[Datchew]

I'm enjoying the financial and inflation talk much more than the election or Ukraine topics.

Neither trump (stimmy checks!) nor Biden get high marks in my book on this matter.
And I hold out exactly zero hope that we're going to get an Austrian economist in the white house.

The policy Trump had with something along the lines of requiring removal of several regulations in order to create any single one was very good but the stimmy checks undid any credit he had there.

Stimmies and low interest rates gave a cocaine hit to the economy and now we're struggling to pay for it. We're creating debt at just almost a logarithmic rate.

Historically, any fiscal reformer commits political suicide if they gut the entitlements, though that is frankly about the only option left if we're not to default. And Trump, if he wins, has no 2nd term to worry about. hmmm

I'm a big fan of what Milei is doing in Argentina but I can't help but think that guy ends up in a bad place with all the status quo disruption he's causing. He's pretty amazing.

Also, historically (like 6k years of recorded history... give or take a little) countries choose to inflate the currency. Every time.

We can't service the debt even with rate cuts. It's probably a mathematical impossibility at this point but I haven't run the numbers so I won't walk out on that branch.

Penny for your thoughts on where this goes.

 

[sgt_zim]

I'm enjoying the financial and inflation talk much more than the election or Ukraine topics.

Neither trump (stimmy checks!) nor Biden get high marks in my book on this matter.
And I hold out exactly zero hope that we're going to get an Austrian economist in the white house.

The policy Trump had with something along the lines of requiring removal of several regulations in order to create any single one was very good but the stimmy checks undid any credit he had there.

Stimmies and low interest rates gave a cocaine hit to the economy and now we're struggling to pay for it. We're creating debt at just almost a logarithmic rate.

Historically, any fiscal reformer commits political suicide if they gut the entitlements, though that is frankly about the only option left if we're not to default. And Trump, if he wins, has no 2nd term to worry about. hmmm

I'm a big fan of what Milei is doing in Argentina but I can't help but think that guy ends up in a bad place with all the status quo disruption he's causing. He's pretty amazing.

Also, historically (like 6k years of recorded history... give or take a little) countries choose to inflate the currency. Every time.

We can't service the debt even with rate cuts. It's probably a mathematical impossibility at this point but I haven't run the numbers so I won't walk out on that branch.

Penny for your thoughts on where this goes.

We are at the point of a Hobson's choice. Excruciating pain today, or mortal pain at some point not far down the road. It's as monotonously predictable as gravity.

And I hold out exactly zero hope that we're going to get an Austrian economist in the white house.

 

[Brent in Az]

Sweden is offering migrants $34,000 to leave the country.
I guess that open door policy is not working out. Go figure!

 

[Tanks]

Sweden is offering migrants $34,000 to leave the country.
I guess that open door policy is not working out. Go figure!

We are offering them more in benefits (at least in CA) over the course of the year to stay.

 

[Red Leg]

Looks like it was an intercepted shipment, and somehow the Israelis had enough time to arm over two thousand pagers. Really impressive.

REPORT: Mossad Intercepted Hezbollah Pager Shipment, Loaded Them With Explosives

redstate.com

 

[Tanks]

Hilarious and ultimate trolling.

'Queers for Palestine' Offered $1 Million to Hold a Pride Parade in Gaza

redstate.com

 

[freefall]

Boutique farmers are still making money. I paid $80/pound for Wagyu A5 ribeyes at my local butcher a couple of weeks ago for a dinner party I had at home. Interestingly online direct from the farms it is even more.

As an aside, I heartily recommend the Meater Pro temperature probe for BBQs etc.. with their app it is a no brainer to fix a perfect steak (or chicken, fish etc.). Ambient temperature limit is 1,000F so it will not be damaged.

Meater - The Best Selling Smart Meat Thermometer

Remove the guesswork from cooking with MEATER, the smartest cooking thermometer for your BBQ and Kitchen.

www.meater.com

Jeeze, if I were a trillionaire I could pay $80/lb for steaks for my business contacts and mock the plebs for worrying about prices.
"let them eat geese!"

 

[LivingTheDream]

Jeeze, if I were a trillionaire I could pay $80/lb for steaks for my business contacts and mock the plebs for worrying about prices.
"let them eat geese!"

And now we have gone full circle to Springfield.

 

[freefall]

LOL... Are you seriously trying to make this as a logical argument???

Here's the first of many problems with that as it relates to Brandonomics: Wage growth as they claimed over his term did not, has not, and will not outpace his inflation over his entire term. Wage growth may have outpaced inflation in a handful of recent months but overall, Brandon's wage to inflation ratio is way under water over his term... I'll use your own argument of gain/loss to show you just how bad the loss was for Americans was under Brandon compared to Trump...

Here are the REAL numbers, not cherry picked, not partial data...

Under Trump year over year inflation was 1.9%. That's 7.6% overall during his term while wages grew 15% ...

Under Brandon, year over year was 5.2%, and 20.8% overall at the 3.6-year mark and even higher when you factor in the essential costs of living as mentioned before like rent, mortgages, groceries, fuel, insurance, and electricity which collectively consumes 75-95% of every middle-class household income. That rate was was 22.5% on average... Wages under Brandon have grown by 7% over his term to date...

So, by your formula, the wage growth outpaced inflation by 100% under Trump, while conversely, inflation has outpaced wage growth by 200% to date under Brandon... The reality is that Trump's economy outperformed Brandon's most of the Top 10 growth indicators used by investors which are GDP, industrial production, consumer spending, employment figures, home sales, new construction, INFLATION, construction spending, manufacturing demand & retail sales...

Brandon had a slight edge over Trump in job growth which has two asterisks by it due to the Covid job bump which we all know were not really new jobs, but returning jobs already created under Trump... The second asterisk is for the fabricated numbers put out during this most recent jobs report which we discovered was BS...

In summary, nobody is ahead because revenue has not exceeded costs as you mistakenly suggest in specific regard to wage growth compared to inflation...

He doesn't give a good goddamn, he just wants to throw rocks at Trump. I truly believe he's intimidated by his girlfriends friends.
Change my mind.

 

[ActionBob]

That is assuming there is no retaliation. We export a lot of farm goods to China, a 60% tariff at the other end would mean they'd be buying pork and other farm products from other countries.

They already do. They have a Red Line policy. They buy from countries that they are aligned with. Why do you think Brazil is in BRICS with them? And then there is Russia. Russia is of course about oil. But Russia also produces wheat.

 

[Corey0372]

How do you think Trump's proposed 10% tariff on all imports and 60% tariff on Chinese goods would impact the middle and lower economic classes. That is basically a tremendous tax on those people and more. Also, does this mean your $1,000 iPhones or Dell computers etc., are now $1,600+? We import $504.6B (2021 number) from China per year for a lot of which there are no alternative sources. If there are then those would be subject to 10% tariff, which is still a cost to the end consumer. Also
don't forget a 10% increase in cost at port of entry could be double by the time it gets to the end customer.

That is assuming there is no retaliation. We export a lot of farm goods to China, a 60% tariff at the other end would mean they'd be buying pork and other farm products from other countries.

The Chinese own Smithfield, which, if I'm not mistaken, is the largest pork producer in the world. They also have many operations outside the US.

The largest producer of Palladium in the US is looking at laying off around 700 workers and cutting production.

The second largest Aluminum smelting plant in the US closed earlier this year.

 

[Ridge Runner]

The Chinese own Smithfield, which, if I'm not mistaken, is the largest pork producer in the world. They also have many operations outside the US.

The largest producer of Palladium in the US is looking at laying off around 700 workers and cutting production.

The second largest Aluminum smelting plant in the US closed earlier this year.

A "WOW", because you hit close to home. The last, to my knowledge, lead mine in the US also closed several years ago after maxing out all of their EPA requirements. ie. Muzzleloadering enthusiasts (also plumbers) want and need pure lead to be authentic and to make certain repairs, respectfully.

IF...IF...the US "is" such a "world Leader"; Then why are we behind in so many ways, behind other countries? Other countries that mine, develop, etc. minerals; have higher carbon footprint, with no regard for what the US, or other developed countries (UK, European nations) are trying to reduce.?. Putting/Making dependant 1st, 2nd, other 3rd, "world countries" totally dependant on what these "3rd world countries" produce.?.

IMO, It's economic disaster for the dependent supplied country being so dependent on their, (the supplying) country to supply the needed material; that said supplied country could easily produce themselves without an economic dependency at a reduced cost.

Is America...that is are Americans so greedy......or precieved to be so greedy/such a greedy nation, that we can't produce what we need or want without: 3rd world sweat shops" to save labor costs, or so anti government to save/ exploit tax loopholes,; willing to sell out corporate secrets/American ingenuity to thumb our noses at our government and American workers and the American workforce to hire illegal immigrants over legal citizens?

The insanity IMO is insane stupidity bogling.!!

 

[Ridge Runner]

Part 2 of my previous rant.

The Federal Reserve is an illegal (via The US Constitution) Constitutional Organization.! Look It Up. Only the US Government can print legal tender (money/coin).!. The US Government can not barrow money from US citizens, etc., (which is the Fedral Reserve) (see Federal Resevee History). The US Government can only borrow from foreign government,.

So why is the US Government and American citizens economic sustainable so dependent on what the Federal Reserve does? (Rethorical Question).

IMO, The US Government needs to pay off its debt to the Federal Reserve, go back to the gold standard that we once had and the US Dollar would be stronger than ever. But being a Realist, this can logically and World Financially not happen because "we" the US cannot do this without causing a worldwide economic disaster.

 

[Altitude sickness]

Ridge runner, are you saying you don’t print money. Loan it to your wife then claim your household financial outlook is peachy keen ?

Because your bank account would look fine wouldnt it.

The federal government is the only entity allowed to run Ponzi schemes
Social security being the largest ponzi scam

 

[fourfive8]

My friend, you are so out of touch with average American, I can't even begin to list all the reasons, but statements like this above sum it up pretty good...

Even Americans with good jobs in multiple income houses are living paycheck to paycheck over the last 3.6 years... 3 in 4 Americans have no assets to speak of... Real consumer debt is at an all-time high in this country, and you are talking about mitigating inflation with real estate, equities, gold??? LOL...
You are either trolling me or you are really that oblivious to the real America?

Absolutely correct! Some are not only on the Koolaid, but verifiably addicted to it. Those so afflicted are easy to ID. Even those who are self-proclaimed experts on economics, the economy and basic statistics are seemingly brain dead when it comes to the simple math of cumulative inflation.

 

[John Wasmuth]

 

[fourfive8]

Also, just saw an Arizona voter rolls audit that shows almost 100,000 non-citizens on voter rolls. I also remember after the 2020 election, all those who dismissed this and similar vote integrity issues across the country, and who continue to do so, labeling anyone questioning electoral fraud as right wing, tin foil hat wearing conspiracy theory nuts. With comments like, “Move on, nothing to see here”, “Been investigated and debunked” …and so on. Okiedokie… Keep drinking the Koolaid!