You’re the most unserious economic mind on this forum. And that’s saying something with the folks like Salty posting. Originally Posted by 1blackman1No need for yer lowbrow insults! ... As I'm already known for
Gentlemen, As you well know, that's nonsense. If prices are mostly lower at the end of Trump's term, we will have either been through the Mother of All Recessions or Japanification. Neither is desirable.
It's what he said, and it's what some folks want, the prices part. I'm not hoping for a recession or Japanification.
As you also know, Trump's not the most articulate guy around and is prone to exaggerate. When you hear him say "prices will come down", you should interpret it to mean "prices will come down relative to wages."
He's supposed to be a "tells it like it is" "says what he means" guy, so I'm going with what he said.
In that light, you've thrown out lousy benchmarks cc314. Use these instead. They'll have to be updated when 4Q 2024 and 1Q 2025, 2024 and 2028 numbers are available.
I'll check out your source. I'll probably keep using the benchmarks I have, but I wouldn't have a problem with more numbers.
Median real weekly wages, seasonally adjusted, 1982-1984 dollars:
1Q 2017: $352
4Q 2020: $376
1Q2021: $373
3Q 2024: $371
Change during Trump's term: +6.8%
Change during Biden's term so far: -0.5%
Real Median Household Income, Annual, 2023 dollars:
2017: 74,810
2020: 79,560
2021: 79,260
2023: 80,610
Change during Trump's term: 6.3%
Change during Biden's term so far: 1.7%
https://fred.stlouisfed.org/series/LES1252881600Q
https://fred.stlouisfed.org/series/MEHOINUSA672N Originally Posted by Tiny
What I know is nonsense is that folks voted believing that Trump could do something about prices. Further, it’s total bullshit that Trump was good for the economy when all he did was not fuck up the Obama economy that was handed to him. Sadly people like you, Tiny, actually know better than the bullshit you keep posting but you push that bullshit narrative repeatedly anyway. I know you know better because you - unlike many in this forum - have shown to actually have some intelligence.How much effect does the president have on the health of the economy? Probably not as much as you think. Collectively factors like changes in technology, globalization, Fed policy, Congress, what's happening in other parts of the world, changes in demography and population, wars, oil price shocks and, once in a blue moon, pandemics are much more important.
Again, Trump and the republicans ran on bringing prices down and he even claimed in his inauguration speech that they were going to bring prices down. Time to deliver snd be held to doing so. Originally Posted by 1blackman1
For starters Elon is NOT the worlds richest person. It's a Central Banker/owner/biggest shareholder of said bank. ... Originally Posted by CPT SavajoNah. That wouldn't be richest. I always thought that, in the past, the richest person was the magnate of the Krup steel holdings. The company charter stated that the whole shebang was to be "owned" by one person: the head of the Krup family. That all stopped when it went public in 1968.
I know they are important, but get down to it farm subsidies keep one of the basic needs of life affordable. Should it be like this, no. Why should we tariff an importer on food then turn around and give 50 billion in subsidies cause we just screwed the farmer? This is way over simplified but that's the basics. It is an anti-regulation. This is one way Republicans buy votes, keep the farmers happy. That's why when you see a red/blue map, all the farmland is red. And they don't deal with big city problems like pollution where a lot of environmental regulations are needed. So it is easy for a farmer to hate regulations out in the middle of nowhere with clean air to say regulations suck.Fancy stepping Roy. If you would have said price control, the maggies would have flocked on you as a murder.
Books can be written on this stuff, but I have more important things to do like go fuck a cute little Asian hooker. lol Originally Posted by royamcr
Republicans are demanding a 4 trillion increase in debt ceiling. The fuckery is continuing. In 4 years my guess the debt will be round $45 trillion. Give or take a trillion... Originally Posted by royamcrWHA!?! I thought they were all against spending, the swamp, pork barrell, etc.
That is the Democrats lie that most economists will disagree with it being a lie.But if it puts a chicken in the pot....
The economists that don't are basically promoting Marxist/Socialist/Totalitarian central planning garbage that always fails. Originally Posted by farmstud60
How much effect does the president have on the health of the economy? Probably not as much as you think. Collectively factors like changes in technology, globalization, Fed policy, Congress, what's happening in other parts of the world, changes in demography and population, wars, oil price shocks and, once in a blue moon, pandemics are much more important.Let's stay out of the whatabout and whatif zone. POTUS47 has an R-controlled House, Senate, and Supreme Court. This thread is about one of the promises POTUS47 made. Let's see how he keeps it.
That said, I'd rate Trump higher than Biden. Positives during Trump's term were the corporate tax cuts and deregulation. I can't really think of any positives for Biden.
Trump's tariffs sucked, but Biden kept them in place. Both men were spendthrifts who didn't pay attention to deficits. I'd rate Biden worse on that score though. At least Trump had COVID as an excuse in 2020.
Would we have suffered through high inflation if Trump had been re-elected in 2020? If Democrats had won the House and Senate, we very well might have. Towards the end of 2020, the Republican Senators were the only adults in the room. Trump and Pelosi and the Democrat-controlled House were inclined to continue with lavish stimulus spending, over the objections of McConnell and other Republicans. Trump and a Democratic Congress might have passed something like the American Rescue Plan in 2021, which ignited inflation in the USA. Originally Posted by Tiny
How much effect does the president have on the health of the economy? Probably not as much as you think. Collectively factors like changes in technology, globalization, Fed policy, Congress, what's happening in other parts of the world, changes in demography and population, wars, oil price shocks and, once in a blue moon, pandemics are much more important.You are offbase on most of this.
That said, I'd rate Trump higher than Biden. Positives during Trump's term were the corporate tax cuts and deregulation. I can't really think of any positives for Biden.
Trump's tariffs sucked, but Biden kept them in place. Both men were spendthrifts who didn't pay attention to deficits. I'd rate Biden worse on that score though. At least Trump had COVID as an excuse in 2020.
Would we have suffered through high inflation if Trump had been re-elected in 2020? If Democrats had won the House and Senate, we very well might have. Towards the end of 2020, the Republican Senators were the only adults in the room. Trump and Pelosi and the Democrat-controlled House were inclined to continue with lavish stimulus spending, over the objections of McConnell and other Republicans. Trump and a Democratic Congress might have passed something like the American Rescue Plan in 2021, which ignited inflation in the USA. Originally Posted by Tiny
Nah. That wouldn't be richest. I always thought that, in the past, the richest person was the magnate of the Krup steel holdings. The company charter stated that the whole shebang was to be "owned" by one person: the head of the Krup family. That all stopped when it went public in 1968. Originally Posted by Precious_bI've never heard of the Krup family but I still believe it's a Central Bank owner that's the richest person in the world. The liability of United States and European Union debt is somebody's asset. To the tune of trillions.
The course for inflation was set by the end of Trumps term, low interest rates, oil production cut, high m2 money supply, demand increasing, supplies low, high unemployment. This created the perfect storm for inflation. No way can rate Trump over Biden in this considering where we are today especially compared to the rest of the world. Originally Posted by royamcrThe course of inflation took off after President Nixon ended the last vestiges of the Gold Standard in August of 1971. We've been on a 54 year experiment since then where the dollars no longer say, "Silver Certificate" at the top of every dollar. Print, print, print, print, print! Democrat or Republican it doesn't matter.
About as false as Clarence being a bought POS with a fat, ugly wife. Originally Posted by 69in2it69Destruction of resources is never a net positive, that’s why it’s called a ‘fallacy’. Depleting our inventory is NOT an economic boon. The resources used to replenish them would have gone elsewhere into the economy, not to restore it to a previous state. This theory has been debunked for 175 years.
I've never heard of the Krup family but I still believe it's a Central Bank owner that's the richest person in the world. The liability of United States and European Union debt is somebody's asset. To the tune of trillions. Originally Posted by CPT SavajoWell that's a big Mea Culpa on me! Meant Krupp.
Maybe they are in the coffee industry. Originally Posted by royamcrThat is the single "p" I mistakenly posted.