Why is Trump doing this?

[Bowlmania]

• Peter Ricchiuti, Senior Professor of Finance, Tulane University Freeman School of Business: "Tariffs have never worked. They're prosperity killers. The worst part of all this is that these economic wounds are self-inflicted. Until the inauguration, the US was doing very well. Inflation was coming down, we had record corporate earnings and the highest stock prices ever seen."
• Olu Sonola, head of US economic research at Fitch Ratings: "This is a game-changer, not only for the US economy but for the global economy. Many countries will likely end up in a recession. You can throw most forecasts out the door if this tariff rate stays on for an extended period of time."
• Michael Feroli, Chief Economist at JP Morgan: "[Yesterday's] announcement would raise ... $400 billion in revenue, which would be the largest tax increase since 1968. We estimate that these measures could boost prices by 1% to 1.5% this year and we believe the inflationary effects would mostly be realized in the middle quarters of the year. This could take real disposable income growth in 2Q-3Q into negative territory and with it the risk that real consumer spending could also contract in those quarters. This impact alone could take the economy perilously close to slipping into recession."

To be clear, I would define "doing this" in the thread title as "destroying the economy," but I recognize that others may see it differently. What is he doing, and why? What's the end game? He wants to eliminate income taxes? He thinks the tariffs will drive domestic manufacturing? Even if these are goals, the realization and benefits would be years (plural) in the future, with significant hardship for millions of Americans in the interim.

Donald Trump's tariffs could push US into recession: JP Morgan

Trump unveiled sprawling reciprocal tariffs against America's trading partners all over the world.

www.newsweek.com

President Trump’s mindless tariffs will cause economic havoc

But the rest of the world can limit the damage

www.economist.com

 

[mattndallas]

Even if these are goals, the realization and benefits would be years (plural) in the future, with significant hardship for millions of Americans in the interim.

So...kinda like taking a fat, lazy kid, living on Daddy's credit/dole, and whipping him into shape?

 

[outside shooter]

No, it's like squeezing out a massive dump, a real McMurt-level pile, on main street and touting that eventually it will find its way to fertilize something.

 

[mcmurtry66]

No, it's like squeezing out a massive dump, a real McMurt-level pile, on main street and touting that eventually it will find its way to fertilize something.

Get off the board and go for a walk orange man. You need it. Badly. Not your tricycle. It’s not working.

 

[bailey777]

• Peter Ricchiuti, Senior Professor of Finance, Tulane University Freeman School of Business: "Tariffs have never worked. They're prosperity killers. The worst part of all this is that these economic wounds are self-inflicted. Until the inauguration, the US was doing very well. Inflation was coming down, we had record corporate earnings and the highest stock prices ever seen."
• Olu Sonola, head of US economic research at Fitch Ratings: "This is a game-changer, not only for the US economy but for the global economy. Many countries will likely end up in a recession. You can throw most forecasts out the door if this tariff rate stays on for an extended period of time."
• Michael Feroli, Chief Economist at JP Morgan: "[Yesterday's] announcement would raise ... $400 billion in revenue, which would be the largest tax increase since 1968. We estimate that these measures could boost prices by 1% to 1.5% this year and we believe the inflationary effects would mostly be realized in the middle quarters of the year. This could take real disposable income growth in 2Q-3Q into negative territory and with it the risk that real consumer spending could also contract in those quarters. This impact alone could take the economy perilously close to slipping into recession."

To be clear, I would define "doing this" in the thread title as "destroying the economy," but I recognize that others may see it differently. What is he doing, and why? What's the end game? He wants to eliminate income taxes? He thinks the tariffs will drive domestic manufacturing? Even if these are goals, the realization and benefits would be years (plural) in the future, with significant hardship for millions of Americans in the interim.

Donald Trump's tariffs could push US into recession: JP Morgan

Trump unveiled sprawling reciprocal tariffs against America's trading partners all over the world.

www.newsweek.com

President Trump’s mindless tariffs will cause economic havoc

But the rest of the world can limit the damage

www.economist.com

He is doing it because he knows it will infuriate you. He wants to make sure you continue to come to the water cooler( your safe space) daily and tell us all how horrible he is and how the end of the world is near. I mean what would you do without him you would have nothing to complain about at all at least in theory. I think you would be rather bored without him.

He is doing just what he said he was going to do back in the summer and yet you uber liberals act shocked like this came out of left field.

 

[BCCHoosier]

So...kinda like taking a fat, lazy kid, living on Daddy's credit/dole, and whipping him into shape?

Lazy take as usual. You and I may be fine, but these fat kids live on both sides of the aisle. They will suffer. Never mind the ham handed Gov layoffs. Complete shit show that did not need to happen.

 

[Bulk VanderHuge]

Very well stated arguments by the MAGAs. Just what I would expect.

 

[GooglyMooglyWooglyBoogly]

• Peter Ricchiuti, Senior Professor of Finance, Tulane University Freeman School of Business: "Tariffs have never worked. They're prosperity killers. The worst part of all this is that these economic wounds are self-inflicted. Until the inauguration, the US was doing very well. Inflation was coming down, we had record corporate earnings and the highest stock prices ever seen."
• Olu Sonola, head of US economic research at Fitch Ratings: "This is a game-changer, not only for the US economy but for the global economy. Many countries will likely end up in a recession. You can throw most forecasts out the door if this tariff rate stays on for an extended period of time."
• Michael Feroli, Chief Economist at JP Morgan: "[Yesterday's] announcement would raise ... $400 billion in revenue, which would be the largest tax increase since 1968. We estimate that these measures could boost prices by 1% to 1.5% this year and we believe the inflationary effects would mostly be realized in the middle quarters of the year. This could take real disposable income growth in 2Q-3Q into negative territory and with it the risk that real consumer spending could also contract in those quarters. This impact alone could take the economy perilously close to slipping into recession."

To be clear, I would define "doing this" in the thread title as "destroying the economy," but I recognize that others may see it differently. What is he doing, and why? What's the end game? He wants to eliminate income taxes? He thinks the tariffs will drive domestic manufacturing? Even if these are goals, the realization and benefits would be years (plural) in the future, with significant hardship for millions of Americans in the interim.

Donald Trump's tariffs could push US into recession: JP Morgan

Trump unveiled sprawling reciprocal tariffs against America's trading partners all over the world.

www.newsweek.com

President Trump’s mindless tariffs will cause economic havoc

But the rest of the world can limit the damage

www.economist.com

Tariffs create all manner of opportunity for corruption. They offer a choke point where Trump has extreme influence over economies, companies and nations.

Any one that wants a carve out or exemption or perhaps even competitive advantage comes to Trump hat in hand to plead their case.

Trump likes people kissing the ring, and I hope that isn’t part of his motivation in this.

 

[Bulk VanderHuge]

Trump likes people kissing the ring, and I hope that isn’t part of his motivation in this.

Probably not.

 

[CO. Hoosier]

• Peter Ricchiuti, Senior Professor of Finance, Tulane University Freeman School of Business: "Tariffs have never worked. They're prosperity killers. The worst part of all this is that these economic wounds are self-inflicted. Until the inauguration, the US was doing very well. Inflation was coming down, we had record corporate earnings and the highest stock prices ever seen."
• Olu Sonola, head of US economic research at Fitch Ratings: "This is a game-changer, not only for the US economy but for the global economy. Many countries will likely end up in a recession. You can throw most forecasts out the door if this tariff rate stays on for an extended period of time."
• Michael Feroli, Chief Economist at JP Morgan: "[Yesterday's] announcement would raise ... $400 billion in revenue, which would be the largest tax increase since 1968. We estimate that these measures could boost prices by 1% to 1.5% this year and we believe the inflationary effects would mostly be realized in the middle quarters of the year. This could take real disposable income growth in 2Q-3Q into negative territory and with it the risk that real consumer spending could also contract in those quarters. This impact alone could take the economy perilously close to slipping into recession."

To be clear, I would define "doing this" in the thread title as "destroying the economy," but I recognize that others may see it differently. What is he doing, and why? What's the end game? He wants to eliminate income taxes? He thinks the tariffs will drive domestic manufacturing? Even if these are goals, the realization and benefits would be years (plural) in the future, with significant hardship for millions of Americans in the interim.

Donald Trump's tariffs could push US into recession: JP Morgan

Trump unveiled sprawling reciprocal tariffs against America's trading partners all over the world.

www.newsweek.com

President Trump’s mindless tariffs will cause economic havoc

But the rest of the world can limit the damage

www.economist.com

The argument is that the present shape of global trade (fueled by chasing profits and greed) is unsustainable and the huge cumulative trade deficits we run will eventually collapse our economy. Foreigners leverage their considerable US trade surpluses to exacerbate our national debt. I think the argument is only partially correct, ( there is a link of unknown strength) Even with a questionable link, the system must change and we need to initiate a change in trajectory.

 

[Bowlmania]

The argument is that the present shape of global trade (fueled by chasing profits and greed) is unsustainable and the huge cumulative trade deficits we run will eventually collapse our economy. Foreigners leverage their considerable US trade surpluses to exacerbate our national debt. I think the argument is only partially correct, ( there is a link of unknown strength) Even with a questionable link, the system must change and we need to initiate a change in trajectory.

That’s an argument. I don’t know that you’d find much expert support for it, though.

When is “eventually?” There’s certainly no emergency now or imminent. When Trump took over in January, the US economy was outperforming the rest of the world.

 

[bailey777]

• Peter Ricchiuti, Senior Professor of Finance, Tulane University Freeman School of Business: "Tariffs have never worked. They're prosperity killers. The worst part of all this is that these economic wounds are self-inflicted. Until the inauguration, the US was doing very well. Inflation was coming down, we had record corporate earnings and the highest stock prices ever seen."
• Olu Sonola, head of US economic research at Fitch Ratings: "This is a game-changer, not only for the US economy but for the global economy. Many countries will likely end up in a recession. You can throw most forecasts out the door if this tariff rate stays on for an extended period of time."
• Michael Feroli, Chief Economist at JP Morgan: "[Yesterday's] announcement would raise ... $400 billion in revenue, which would be the largest tax increase since 1968. We estimate that these measures could boost prices by 1% to 1.5% this year and we believe the inflationary effects would mostly be realized in the middle quarters of the year. This could take real disposable income growth in 2Q-3Q into negative territory and with it the risk that real consumer spending could also contract in those quarters. This impact alone could take the economy perilously close to slipping into recession."

To be clear, I would define "doing this" in the thread title as "destroying the economy," but I recognize that others may see it differently. What is he doing, and why? What's the end game? He wants to eliminate income taxes? He thinks the tariffs will drive domestic manufacturing? Even if these are goals, the realization and benefits would be years (plural) in the future, with significant hardship for millions of Americans in the interim.

Donald Trump's tariffs could push US into recession: JP Morgan

Trump unveiled sprawling reciprocal tariffs against America's trading partners all over the world.

www.newsweek.com

President Trump’s mindless tariffs will cause economic havoc

But the rest of the world can limit the damage

www.economist.com

• Peter Ricchiuti, Senior Professor of Finance, Tulane University Freeman School of Business: "Tariffs have never worked. They're prosperity killers. The worst part of all this is that these economic wounds are self-inflicted. Until the inauguration, the US was doing very well. Inflation was coming down, we had record corporate earnings and the highest stock prices ever seen."
• Olu Sonola, head of US economic research at Fitch Ratings: "This is a game-changer, not only for the US economy but for the global economy. Many countries will likely end up in a recession. You can throw most forecasts out the door if this tariff rate stays on for an extended period of time."
• Michael Feroli, Chief Economist at JP Morgan: "[Yesterday's] announcement would raise ... $400 billion in revenue, which would be the largest tax increase since 1968. We estimate that these measures could boost prices by 1% to 1.5% this year and we believe the inflationary effects would mostly be realized in the middle quarters of the year. This could take real disposable income growth in 2Q-3Q into negative territory and with it the risk that real consumer spending could also contract in those quarters. This impact alone could take the economy perilously close to slipping into recession."

To be clear, I would define "doing this" in the thread title as "destroying the economy," but I recognize that others may see it differently. What is he doing, and why? What's the end game? He wants to eliminate income taxes? He thinks the tariffs will drive domestic manufacturing? Even if these are goals, the realization and benefits would be years (plural) in the future, with significant hardship for millions of Americans in the interim.

Donald Trump's tariffs could push US into recession: JP Morgan

Trump unveiled sprawling reciprocal tariffs against America's trading partners all over the world.

www.newsweek.com

President Trump’s mindless tariffs will cause economic havoc

But the rest of the world can limit the damage

www.economist.com

Such a horrible man how dare he try and even the playing field with China. Trump bad!!

• President Trump on Wednesday announced plans to end what some see as an unfair trade loophole.
• The rule waives tariffs on imports worth $800 or less.
• The rule will no longer apply to China, where millions of small shipments originate each day.

 

[Standard Issue]

• Peter Ricchiuti, Senior Professor of Finance, Tulane University Freeman School of Business: "Tariffs have never worked. They're prosperity killers. The worst part of all this is that these economic wounds are self-inflicted. Until the inauguration, the US was doing very well. Inflation was coming down, we had record corporate earnings and the highest stock prices ever seen."
• Olu Sonola, head of US economic research at Fitch Ratings: "This is a game-changer, not only for the US economy but for the global economy. Many countries will likely end up in a recession. You can throw most forecasts out the door if this tariff rate stays on for an extended period of time."
• Michael Feroli, Chief Economist at JP Morgan: "[Yesterday's] announcement would raise ... $400 billion in revenue, which would be the largest tax increase since 1968. We estimate that these measures could boost prices by 1% to 1.5% this year and we believe the inflationary effects would mostly be realized in the middle quarters of the year. This could take real disposable income growth in 2Q-3Q into negative territory and with it the risk that real consumer spending could also contract in those quarters. This impact alone could take the economy perilously close to slipping into recession."

To be clear, I would define "doing this" in the thread title as "destroying the economy," but I recognize that others may see it differently. What is he doing, and why? What's the end game? He wants to eliminate income taxes? He thinks the tariffs will drive domestic manufacturing? Even if these are goals, the realization and benefits would be years (plural) in the future, with significant hardship for millions of Americans in the interim.

Donald Trump's tariffs could push US into recession: JP Morgan

Trump unveiled sprawling reciprocal tariffs against America's trading partners all over the world.

www.newsweek.com

President Trump’s mindless tariffs will cause economic havoc

But the rest of the world can limit the damage

www.economist.com

I can only think of two possible reasons:
1. Market manipulation so he and his can profit
2. Vlad told him to wreck the world economy

 

[ribbont]

• Peter Ricchiuti, Senior Professor of Finance, Tulane University Freeman School of Business: "Tariffs have never worked. They're prosperity killers. The worst part of all this is that these economic wounds are self-inflicted. Until the inauguration, the US was doing very well. Inflation was coming down, we had record corporate earnings and the highest stock prices ever seen."
• Olu Sonola, head of US economic research at Fitch Ratings: "This is a game-changer, not only for the US economy but for the global economy. Many countries will likely end up in a recession. You can throw most forecasts out the door if this tariff rate stays on for an extended period of time."
• Michael Feroli, Chief Economist at JP Morgan: "[Yesterday's] announcement would raise ... $400 billion in revenue, which would be the largest tax increase since 1968. We estimate that these measures could boost prices by 1% to 1.5% this year and we believe the inflationary effects would mostly be realized in the middle quarters of the year. This could take real disposable income growth in 2Q-3Q into negative territory and with it the risk that real consumer spending could also contract in those quarters. This impact alone could take the economy perilously close to slipping into recession."

To be clear, I would define "doing this" in the thread title as "destroying the economy," but I recognize that others may see it differently. What is he doing, and why? What's the end game? He wants to eliminate income taxes? He thinks the tariffs will drive domestic manufacturing? Even if these are goals, the realization and benefits would be years (plural) in the future, with significant hardship for millions of Americans in the interim.

Donald Trump's tariffs could push US into recession: JP Morgan

Trump unveiled sprawling reciprocal tariffs against America's trading partners all over the world.

www.newsweek.com

President Trump’s mindless tariffs will cause economic havoc

But the rest of the world can limit the damage

www.economist.com

From what I have read and heard, Trump believes other countries have been taking advantage of us and not allowing us to trade on equal footing in other countries. He also believes we need to bring back manufacturing jobs for 1) national security reasons, 2) better overall balance between manufacturing and service jobs, and 3) improved wage growth.

He and others have also stated they believe that tariffs will not increase inflation if we 1) decrease oil prices via increased supply, 2) deregulate, 3) reaffirm the current tax code with his promised cuts to tips, SS, etc, and 4) reduce government spending.

I'm not saying it's right or wrong or whether I agree or not. It's just the plan Trump and his administration has laid out for about a year. Surprised you were ignorant about it. I always thought you were one who would educate yourself on current issues. I see I was wrong.

 

[Bowlmania]

From what I have read and heard, Trump believes other countries have been taking advantage of us and not allowing us to trade on equal footing in other countries. He also believes we need to bring back manufacturing jobs for 1) national security reasons, 2) better overall balance between manufacturing and service jobs, and 3) improved wage growth.

He and others have also stated they believe that tariffs will not increase inflation if we 1) decrease oil prices via increased supply, 2) deregulate, 3) reaffirm the current tax code with his promised cuts to tips, SS, etc, and 4) reduce government spending.

I'm not saying it's right or wrong or whether I agree or not. It's just the plan Trump and his administration has laid out for about a year. Surprised you were ignorant about it. I always thought you were one who would educate yourself on current issues. I see I was wrong.

I referenced manufacturing in my first post, but you're obviously more plugged into the Trump spin machine than me.

I'm trying to understand why he's willing to risk higher inflation, higher unemployment, lower growth and a possible recession for benefits that, if they're derived at all, are far in the future.

 

[The Original Happy Goat]

The argument is that the present shape of global trade (fueled by chasing profits and greed) is unsustainable and the huge cumulative trade deficits we run will eventually collapse our economy. Foreigners leverage their considerable US trade surpluses to exacerbate our national debt. I think the argument is only partially correct, ( there is a link of unknown strength) Even with a questionable link, the system must change and we need to initiate a change in trajectory.

That's not the argument at all. The argument is that those trade deficits are actually tariffs, and we are just responding in kind (but at a discount!) to their unfair practices. It's one thing to be wrong, but at this point, it really looks like you are being purposefully dishonest.

 

[mattndallas]

Lazy take as usual. You and I may be fine, but these fat kids live on both sides of the aisle. They will suffer. Never mind the ham handed Gov layoffs. Complete shit show that did not need to happen.

No worries. Didn't expect the simpletons to grasp the big picture of the analogy anyway.

 

[ribbont]

I referenced manufacturing in my first post, but you're obviously more plugged into the Trump spin machine than me.

I'm trying to understand why he's willing to risk higher inflation, higher unemployment, lower growth and a possible recession for benefits that, if they're derived at all, are far in the future.

He and others don't believe we will have any of those issues. And we have 37T of debt, and slow growth. From 75-00, we had 18 yrs of gdp growth at 3% or higher while the last 24 years, we've had 3.

Risk higher inflation? We survived Bidenflation. Risk higher unemployment? We survived the pandemic and 08 crash. Risk lower growth? We're surviving it now. Risk possible recession? What definition are we using? Had one under Biden and survived.

And remember this brilliant prediction that every MSM loved to talk about.

https://www.politico.com/story/2016/11/krugman-trump-global-recession-2016-231055

I am plugged into the Trump economic plan, as I was with Biden's. I like to educate myself on the current administration's plans. Maybe you should do the same.

 

[Cortez88]

He and others don't believe we will have any of those issues. And we have 37T of debt, and slow growth. From 75-00, we had 18 yrs of gdp growth at 3% or higher while the last 24 years, we've had 3.

Risk higher inflation? We survived Bidenflation. Risk higher unemployment? We survived the pandemic and 08 crash. Risk lower growth? We're surviving it now. Risk possible recession? What definition are we using? Had one under Biden and survived.

And remember this brilliant prediction that every MSM loved to talk about.

https://www.politico.com/story/2016/11/krugman-trump-global-recession-2016-231055

I am plugged into the Trump economic plan, as I was with Biden's. I like to educate myself on the current administration's plans. Maybe you should do the same.

How does the proposed budget bill play into this? It’s adding like $5T in debt. If this was a serious plan to tackle the deficit, that seems to blow a hole in it.

 

[Bulk VanderHuge]

Lest we forget, Trump was able to bankrupt casinos.

Casinos.

 

[BCCHoosier]

He and others don't believe we will have any of those issues. And we have 37T of debt, and slow growth. From 75-00, we had 18 yrs of gdp growth at 3% or higher while the last 24 years, we've had 3.

Risk higher inflation? We survived Bidenflation. Risk higher unemployment? We survived the pandemic and 08 crash. Risk lower growth? We're surviving it now. Risk possible recession? What definition are we using? Had one under Biden and survived.

And remember this brilliant prediction that every MSM loved to talk about.

https://www.politico.com/story/2016/11/krugman-trump-global-recession-2016-231055

I am plugged into the Trump economic plan, as I was with Biden's. I like to educate myself on the current administration's plans. Maybe you should do the same.

This is more extreme than anything Biden attempted. You do understand that bringing manufacturing back will take years. And we still have much higher labor and benefit costs than most areas of the world.

Given Trump's treatment of other countries, trade partners will look for other opportunities. Unless you think every other country will capitulate. That seems to be the best being made.

Combine all of this with government layoffs and dropping consumer confidence, we are approaching a cliff.

 

[IUCrazy2]

Such a horrible man how dare he try and even the playing field with China. Trump bad!!

• President Trump on Wednesday announced plans to end what some see as an unfair trade loophole.
• The rule waives tariffs on imports worth $800 or less.
• The rule will no longer apply to China, where millions of small shipments originate each day.

Explain Canada.

Like I am fully on board with making life difficult for the Chinese to drop their products here and I am also completely on board with the idea that some "national security" type of products (like pharmaceuticals) are too tied to China but why go pick a fight with everyone all at once?

A bully who targets everyone at the same time isn't a bully for long.

 

[mcmurtry66]

Lest we forget, Trump was able to bankrupt casinos.

Casinos.

Yeah that’s not really the story. Trump made a fortune out of it and fckd his investors. And basically everyone else. Was that his intention? I don’t know. With other east coast spots no one wants to gamble in Atlantic City. Casinos were a good business venture. For him

 

[ribbont]

This is more extreme than anything Biden attempted. You do understand that bringing manufacturing back will take years. And we still have much higher labor and benefit costs than most areas of the world.

Given Trump's treatment of other countries, trade partners will look for other opportunities. Unless you think every other country will capitulate. That seems to be the best being made.

Combine all of this with government layoffs and dropping consumer confidence, we are approaching a cliff.

First, I never said I was in favor of the plan. I like parts but not all of it. Bowl asked why is Trump doing this and I answered based on what Trump and his team has said over the past year.

Second, I do not believe we are "approaching a cliff". That's just hyperbole. Sam hyperbole that Trump spewed when Biden was in office and "destroying our economy".

 

[ribbont]

How does the proposed budget bill play into this? It’s adding like $5T in debt. If this was a serious plan to tackle the deficit, that seems to blow a hole in it.

Again, as I stated in my first response, I never said I agreed with Trump's policy, just I understand why they are going this direction because I have read, listened, and researched it over the past year. They think it will work out in the long run. I am not so sure. But I do know what we have done over the past 25+ years isn't working either.

 

[Baller23Boogie]

Again, as I stated in my first response, I never said I agreed with Trump's policy, just I understand why they are going this direction because I have read, listened, and researched it over the past year. They think it will work out in the long run. I am not so sure. But I do know what we have done over the past 25+ years isn't working either.

Honest question: how is adding 5 trillion to the deficit any different any different then what we've been doing for the last 25 years? Why are they going this way?

 

[Bill4411]

Trump is of the proverbial dog in the manger philosophy; it is unfortunate that anyone listens to him as this country has become incredibly selfish under his leadership for no real purpose other than spite.

 

[mcmurtry66]

Trump is of the proverbial dog in the manger philosophy; it is unfortunate that anyone listens to him as this country has become incredibly selfish under his leadership for no real purpose other than spite.

And it was insane under the last administration. You wanted us to listen to Biden and Harris. You’re really not one to be able to comment. Just another hickory type shill

YOU were repudiated. You’re garbage at every level last administration . Remember that

People like you. Hondo. Hickory. Shitter, Dbm Bailey etc really are just noise. Of no value

 

[Bowlmania]

He and others don't believe we will have any of those issues. And we have 37T of debt, and slow growth. From 75-00, we had 18 yrs of gdp growth at 3% or higher while the last 24 years, we've had 3.

Risk higher inflation? We survived Bidenflation. Risk higher unemployment? We survived the pandemic and 08 crash. Risk lower growth? We're surviving it now. Risk possible recession? What definition are we using? Had one under Biden and survived.

And remember this brilliant prediction that every MSM loved to talk about.

https://www.politico.com/story/2016/11/krugman-trump-global-recession-2016-231055

I am plugged into the Trump economic plan, as I was with Biden's. I like to educate myself on the current administration's plans. Maybe you should do the same.

Let me bring things into focus for you. Tariffs are inflationary and lead to higher unemployment and lower growth. If this is all a negotiating ploy on Trump’s part, and these tariffs are going to disappear or be significantly tamped down in the near future, we’ll see what happens. But if his global trade war is a long-term strategy, Trump is driving the economy off the cliff, and that’s hardly hyperbole.

 

[Ohio Guy]

Lest we forget, Trump was able to bankrupt casinos.

Casinos.

That's a really good point. I'll give Trump his due - he has been really good at convincing a decent segment of the voting public that he's a smart businessman. In reality, he's only made 'real' money (not inherited) the same way Honey Boo Boo and the Tiger King did.

 

[mcmurtry66]

That's a really good point. I'll give Trump his due - he has been really good at convincing a decent segment of the voting public that he's a smart businessman. In reality, he's only made 'real' money (not inherited) the same way Honey Boo Boo and the Tiger King did.

No he made millions off those casinos. It was a good business move for him. The casinos filed bankruptcy. Investors lost. He made bank. For him it was good business

https://www.nytimes.com/2016/06/12/nyregion/donald-trump-atlantic-city.html

 

[ribbont]

Honest question: how is adding 5 trillion to the deficit any different any different then what we've been doing for the last 25 years? Why are they going this way?

It's not. But I have not seen a proposal to increase the deficit by 5T. I have recently seen the Senate proposal to increase the debt ceiling by 5T. Is that what you mean?

 

[mcmurtry66]

And it was insane under the last administration. You wanted us to listen to Biden and Harris. You’re really not one to be able to comment. Just another hickory type shill

YOU were repudiated. You’re garbage at every level last administration . Remember that

People like you. Hondo. Hickory. Dbm Bailey etc really are just noise. Of no value

@Bill4411 your posting history belies your emoji. Just shows zero self awareness

 

[Bowlmania]

That's a really good point. I'll give Trump his due - he has been really good at convincing a decent segment of the voting public that he's a smart businessman. In reality, he's only made 'real' money (not inherited) the same way Honey Boo Boo and the Tiger King did.

He has two extraordinary skills - - branding and bullshit. Like nobody’s ever seen before.

He’s a con artist who has surrounded himself, going back to Roy Cohn, with dirty lawyers and at least one dirty accountant who have kept him rich and out of jail.

Jim Cramer said last he feels like a sucker for having listened to him. Cramer’s got plenty of company.

 

[Ohio Guy]

No he made millions off those casinos. It was a good business move for him. The casinos filed bankruptcy. Investors lost. He made bank. For him it was good business

https://www.nytimes.com/2016/06/12/nyregion/donald-trump-atlantic-city.html

OK. So he's essentially running the country like he ran his casinos where the American people are the investors and he's making money off meme coins and selling shitty products to his MAGA followers.

 

[Ohio Guy]

He has two extraordinary skills - - branding and bullshit. Like nobody’s ever seen before.

He’s a con artist who has surrounded himself, going back to Roy Cohn, with dirty lawyers and at least one dirty accountant who have kept him rich and out of jail.

Jim Cramer said last he feels like a sucker for having listened to him. Cramer’s got plenty of company.

The unfortunate part for the rest of us is that people like Jim Cramer should haven seen this coming a mile away well before the election.

 

[mcmurtry66]

OK. So he's essentially running the country like he ran his casinos where the American people are the investors and he's making money off meme coins and selling shitty products to his MAGA followers.

He’s been talking about wanting to do what he’s doing since the 90s. I think he’s sincere. I don’t agree with it. Particularly the timing of it. I was correcting the record on the often cited casinos

 

[Baller23Boogie]

It's not. But I have not seen a proposal to increase the deficit by 5T. I have recently seen the Senate proposal to increase the debt ceiling by 5T. Is that what you mean?

Yes, shouldn't have said a deficit, but a debt ceiling. That's my bad.

That's still not balancing the budget.

 

[Ohio Guy]

He’s been talking about wanting to do what he’s doing since the 90s. I think he’s sincere. I don’t agree with it. Particularly the timing of it. I was correcting the record on the often cited casinos

I agree he’s doing what he’s always talked about doing. Honestly, I think that’s part of the issue most people who never voted for him had to begin with.

 

[Bowlmania]

The unfortunate part for the rest of us is that people like Jim Cramer should haven seen this coming a mile away well before the election.

Trump’s god is money. “What’s in it for me, and how much is my take?” That’s been him his entire adult life. He’s also a pathological narcissist who likely believes he’s the greatest person to ever walk the earth.

He is unable to comprehend the meaning or importance of service, he was born without empathy, he is wholly unprincipled and unfit to serve. Yet here we are because Republican leadership enabled this shit, and selfish old Joe refused to step aside until it was too late.

Pubs will take a hit in Nov ‘26, with a loss of 25+ House seats.