The Trump Recession of 2019-2021

Perhaps I follow China closer than the forum Democrats do. But their students (no the democrat press is not leaking this) are in revolt in China. China has arrested a lot of Students to keep this from the Chinese public. But a lot of Chinese are here in my area and travel back to China so can tell them what is happening.

The Tariffs are a pimple on the Chinese economy. The Chinese Government can pay those taxes so it hurts no Chinese company. I believe Trump knows that as I believe I know it. Trump is using China to pick up what he lost from our own Rich.

I picked it up not from China TV but from Japan TV. They stay on top of what happens in China.

China TV is operating as if things are well with the students.

If PBS was not so busy tearing down Trump they may have been a decent place to learn this about China. The damned media of this country is devoted to hurting Trump.

 

Trump's tax cuts didn't stall anything. They are a major cause. He drove up the deficit to almost a trillion dollars a year. He literally doubled the deficit in less than 2 years. And the vast majority of money saved by corporations, who got the biggest part of the tax cuts, was used, not to create jobs, like Trump claimed it would be, but for stock buybacks, so that the company's executives could own more of the companies.

 

Trump just upped the ante with China.

Trump waited until the markets closed when he declared a “national emergency” to protect U.S. communications networks in a move that gives the federal government broad powers to bar American companies from doing business with certain foreign suppliers, which would include the Chinese firm Huawei.

Amid a deepening trade war with China, Trump declared the emergency in the form of an executive order that says foreign adversaries are exploiting vulnerabilities in U.S. telecommunications technology and services. It points to economic and industrial espionage as areas of particular concern.

It is difficult to imagine that's Trump's E.O. will encourage China to cooperate. Actually, the opposite is expected.

Wall Street is a Republican bastion. They don't want to see a Republican President harming the economy or the stock market. Despite the fact that Trump has been plentiful with his promises while totally lacking in results, Wall Street executives want to believe Trump's promises last week and this week. Although no trade talks are scheduled, Wall Street grasped at a straw when Trump said he would talk to President Xi at the G20 summit. Although, Xi has been silent Wall Street propped up the stock market yesterday and today to some degree. The market is still off by about 900 points from Monday of last week.

I wonder what silver lining Wall Street execs will find this time. More of Trump's empty rhetoric?

 

And yet we have created so many jobs that we are at 3.8% or so unemployment, even with people rejoining the labor force, after having left it under Obama, and we have a 3.2% GDP growth. But whatever, keep up with your game that black is white, and up is down.

 

No we are at 3.8 unemployment because the Trump administration doesn't count people who want to work, but simply gave up looking. They only count people are actively looking for work, or who are on actual unemployment benefits. The actual numbers are higher, when counting all people who want to work, but can't find jobs.

 

You seem to be describing the U-6 unemployment number, which has always been calculated the same way, and it is at 7.3%.

The U-3 unemployment number is calculated the same way now, as it was under Obama. I just looked at the U-3 and it's 3.6%

 

Nasdaq approaching correction territory.

Warnings of a recession if the Mexico tariffs go through and worsening China-USA trade war.

Funny, I'm making money off of Trump's idiocy.

muhahahaha!!!

 

It is quite customary for Republicans to protect a Republican President. The Republican President in this case, beginning with his May 5 tariff announcement, has caused the stock market to plummet, which, in turn, has caused millions of Americans to lose a huge portion of their retirement savings.

So, life long Republican, Federal Reserve Chairman Jerome Powell, rode to the rescue, proclaiming, “We are closely monitoring the implications of these developments for the U.S. economic outlook and, as always, we will act as appropriate to sustain the expansion, with a strong labor market and inflation near our symmetric 2 percent objective.”

Powell did not explicitly say that the Fed would cut interest rates, but his comments sent a signal that the central bank was watching Trump’s trade wars with China and Mexico warily, ready to fend off any economic damage. How is a good question. Rising prices cause inflation and less demand. Somebody tell me what the Fed can do about that. Ordinarily, people don't borrow money to buy avocados.

Grasping at straws the Republicans on Wall Street jumped at the chance to stem the flow of blood caused by Trump's calamitous trade wars. The Dow forged ahead by 512 points, second best day of the year for stocks. The Nasdaq and S&P did equally as well today.

Ah, hell, besides all that, the stocks were on sale. Best buy of the year thanks to Trump.

I have just two questions. How long will Wall Street continue to believe in mere rhetoric when making their investment strategy?

And two, what is the relationship between interest rates and the rising price of avocados?

 

Only took him a year to break it.
Same thing with housing.
Of course wages are up a whopping 0.5% since the tax cuts.

 

That looks broken to you?



Really? It looked a lot more broken right after the Democrat's took the House, and the market took a 4000-point nosedive.

Trump's tariffs make the market panic, but the just the thought of Democrats taking control made the market despair.

 

You mean when Trump proudly took credit for the shut down?

 

I think Democrats would cheer for that. Trump is making more moves toward peace with North Korea than any other president

 

That makes no sense.

 

UE has been on the same exact unchanging steady decline since 2010. Also, we do not have 3.2% GDP growth.

 

Yes, none of them successful. We are no closer to denuclearization of the Korean Peninsula than we were two years ago. The two sides can't even agree on what denuclearization means. Why? There are two reasons.

First, Trump needs to be the star. Despite having a state department to assist in such matters, our prima donna President has made himself the lead diplomat, which is exactly what Kim Jong Un wanted, direct talks with the President of the United States. That has been the goal of the Kim regime for 65 years. Having achieved that goal plus other concessions from Trump, there has been no further progress.

Second, North Korea's allies are China and Russia. So, who has Kim been talking to lately? Vladimir Putin and Xi jinping, of course. Those two communist dictators are not about to do Trump any favors, but Trump is too naive to understand that. After all, he fell in love with Kim.

"I was really tough and so was he, and we went back and forth," Trump told an adoring in Wheeling, VA. "And then we fell in love, OK? No, really, he wrote me beautiful letters, and they’re great letters. We fell in love.”

https://www.usatoday.com/story/news...koreas-kim-love-beautiful-letters/1478834002/

 

This is surreal. What a bunch of mealy mouthed sycophants. The GOP used to be the party of free trade. They hated protectionists tariffs, a liberal tactic.

Today, Trump Republicans -- differentiating them from real Republicans and real conservatives -- led by Senate Majority Leader Mitch McConnell are acting like bootlickers for Trump, allowing him to trample all over them with tariffs.

Today, they are simply hoping and praying that Trump finds an excuse to back off on his tariffs on Mexico.

Imagine that, Senators reduced to hoping and praying. Whatever happened to my Republican Party?

CNBC reports, "Republicans hope President Donald Trump will back off his threatened tariffs on Mexico before he forces lawmakers into another public confrontation."

“Our hope is that the tariffs will be avoided and we won’t have to answer any hypotheticals such as you suggest,” McConnell said. Gee, Mitch you really think so?

Sen. Ted Cruz, R-Texas, added that he worried the duties would damage Texas’ economy. “If the outcome of this game of chicken is massive new tariffs that destroy jobs in Texas and across America that would be a terrible outcome,” he said. Gee, Ted, why don't you do something about it instead of just spilling a bunch of empty rhetoric? Naw, that will never happen.

Senate Majority Whip John Thune said, “We don’t know; this is all very hypothetical at this point.” You have my sympathies, you worthless, obsequious toady.

I think I am going to puke. It would have better had they said nothing. This is the party of Reagan and Bush, Sr.? No, I don't think so. I don't recognize this party.

 

I know it doesn't but Trump did it anyway.

 

Well they are at least willing to talk now so yes we are.

It may not be much closer but it's more than any other president did.

 

Sorry, I was citing our first quarter GDP, and did not know they lowered it by 0.1 point.

U.S. Growth Revised Lower by Less Than Expected to 3.1%

Nothing you posted counters my point. Unemployment is at historic lows, GDP is looking great, and yet the Trump haters out their are pretending this means we are in a crisis, and they just can't say enough bad things about it.

 

I have never claimed we are in a crisis. I pointed out trump has done nothing to affect the economic trend which has been on the same unchanging upward swing since 2010.

 

You were making my point. I was responding to the people who continue to predict economic disaster, as they talk down the state of the current economy, even when we have good numbers. They are doing it for no other reason than Trump is the president.

We do have good numbers, and yet you seem to trying to make light of them, and like those other naysayers, you are bringing Trump into this.

It does not matter who the president is, we have historic lows in unemployment, and our economy is looking good as well.

 

I am not making light of anything. I’m simply pointing out the economic trend has remained unchanged since 2010.

 

How's the recession coming?

 

I’m curious as to what is cause of this anemic economy? The tariffs, or government spending?

In other words, is Trump a Caligula—spending tomorrow’s grains on today’s games, so he can lull the masses into tyranny? I suspect that’s part of it.

 

OPEC is struggling to maintain oil prices.. They have slashed production.