US manufacturing survey shows worst reading in a decade

Discussion in 'Economics & Trade' started by MrTLegal, Oct 2, 2019.

  1. MrTLegal

    MrTLegal Well-Known Member

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    Ok, you are still not explaining what additional incentive was provided by the GOP tax cut to spend money on significant portions of the economy.

    <Reply to Deleted>
     
    Last edited by a moderator: Oct 9, 2019
  2. Mircea

    Mircea Well-Known Member

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    That's an "estimate" from J P Morgan who I believe you excoriated for their role in the so-called housing collapse.
     
  3. Derideo_Te

    Derideo_Te Well-Known Member

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    Inane non sequitur response!
     
  4. TheKeefer

    TheKeefer Active Member

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    And you failed to prove that small businesses do not hire more people than manufacturing.

    You are the king of dodge.
     
  5. MrTLegal

    MrTLegal Well-Known Member

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    I never said or implied that small businesses hire less people than manufacturers. I said that the GOP tax cut, while providing an overwhelming percentage of the benefit to the top 1%, did not provide any new incentive for those individuals to spread that money to any larger percentage of the population. They could just use the money to create more wealth or send it to other wealthy individuals by purchasing more luxury items.

    The fact that US Manufacturing is currently seeing its worst rating in nearly a decade is the result of Trump's trade policies, not the tax cuts.
     
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  6. Mircea

    Mircea Well-Known Member

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    It's not a non sequitur.

    What I proved is his Confirmation Bias. He hears only what he wants to hear and sees only what he wants to see.
     
  7. Derideo_Te

    Derideo_Te Well-Known Member

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    You proved nothing at all!
     
  8. Mircea

    Mircea Well-Known Member

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    Sure I did.

    You people labeled J P Morgan the Great Satan for their role in the "housing crisis" and now that J P Morgan says something you want to hear J P Morgan is the greatest thing since sliced bread.

    Was there some part of "estimate" you didn't understand?

    An estimate is not a fact and an "estimate" from a company that estimated there was no problem with mortgages doesn't say much.

    And I hope you're not suggesting Americans buy washing machines several times a month, because that would be silly.
     
  9. Derideo_Te

    Derideo_Te Well-Known Member

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    Asinine strawmen duly noted FTR and ignored for obvious reasons!
     
  10. Mircea

    Mircea Well-Known Member

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    A Straw Man is the misrepresentation of someone's position. It's shocking you don't understand that.

    If you knew what you were talking about, then you'd know that the "estimate" by J P Morgan is based on "estimated" data from the New York Federal Reserve and that "estimate" is based on a report at the NBER, which I will quote:

    U.S. import tariffs had an almost immediate effect on prices in the U.S. economy. Figure 2 presents evidence of this for one of the first sectors targeted by the Trump administration: washing machines.

    THE IMPACT OF THE 2018 TRADE WAR ON U.S. PRICES AND WELFARE Mary Amiti Stephen J. Redding David Weinstein Working Paper 25672 http://www.nber.org/papers/w25672

    NBER working papers are circulated for discussion and comment purposes. They have not been peer-reviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications.

    Maybe now you'll understand.
     
  11. Derideo_Te

    Derideo_Te Well-Known Member

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    Your ASININE STRAWMAN did MISREPRESENT my position because you were disingenuously conflating fiscal malfeasance with fiscal analysis!

    That you did so and CONTINUE to do so says volumes and effectively DISQUALIFIES you from any further interaction on this topic as far as I am concerned.

    Have a nice day!
     
  12. Chuck711

    Chuck711 Well-Known Member

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    You mean they would be borrowing a Trillion Dollars during good employment ?
     
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  13. Bluesguy

    Bluesguy Well-Known Member Donor

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    No I meant what I said.
     
  14. Mircea

    Mircea Well-Known Member

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    Yes, the malfeasance is disruptive that 589,000 jobs were added in October according to the CPS (Current Population Survey) and 556,000 jobs were added based on the CES (Current Employment Survey).
     
  15. Derideo_Te

    Derideo_Te Well-Known Member

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    Thank you for confirming your disqualification from any further meaningful interaction as far as I am concerned.

    Have a nice day!
     
  16. AKS

    AKS Banned

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    As the trade war causes price increases across the economy small businesses will be hit the hardest. trumps trade polices are decidedly anti-small business.
     
    Last edited: Dec 3, 2019
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