US recession is cancelled

Discussion in 'Economics & Trade' started by Thedimon, Aug 29, 2019.

  1. Thedimon

    Thedimon Well-Known Member

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    I took 5.

    I know that. But current trends don’t really point to a recession, no matter how hard liberals wish for it.

    Obama thought it was great. Everyone thought Obama did a good job with 2%. Apparently for Trump this is not good enough

    I wasn’t born yesterday.

    Tax cut did boost the economy, but claiming giving rise people extra cash is pointless is being dishonest - rich people shop, buy expensive clothing and cars, employ a bunch of people to tend for their houses and swimming pools.
    That extra cash almost always comes back.
     
  2. Gary/Dubya

    Gary/Dubya Well-Known Member

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    Obama had a destroyed economy, destroyed by Bush and Republican policies.
     
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  3. Tim15856

    Tim15856 Well-Known Member

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    You are correct, he didn't personally say it, others declared the 2% Obama growth was the new normal.
     
  4. osbornterry

    osbornterry Well-Known Member

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    Okay, I'll bite. What GDP numbers do you have. Please don't quote CNN, or MSNBC.
     
  5. osbornterry

    osbornterry Well-Known Member

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    Is that you, Hillary?
     
  6. ronv

    ronv Well-Known Member

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    And they were right.
     
  7. ronv

    ronv Well-Known Member

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    upload_2019-8-30_20-4-33.png
     
  8. StillBlue

    StillBlue Well-Known Member

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    No it doesn't, if it did then the wealth gap in the US would not be growing at all let alone by leaps and bounds.

    However the opposite would be true. Put money in the hands of people in the bottom 90% and they do spend on goods. 1000 people buying new cars makes for a lot more jobs, and profits, than 100 people buying new cars. When demand goes up there is no shortage of investment money to meet demands. Saying that investors will put money in where there is no new demand is absurd.

    I'm not even going to touch on hiring maids and pool boys as job creation.
     
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  9. StillBlue

    StillBlue Well-Known Member

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    A few misguided people may be willing for the economy to tank to get rid of Trump but they are an exception. We are not cheering for the economy to tank but we see the signs and want changes made to soften the blow at least or to prevent a recession altogether. This concept of ignoring signs, and there are several, of an impending recession and making false projections to bolster someone's chances for re-election is unethical at best.
    The OP uses a 2% GDP growth in the second quarter as a sign of a recession proof economy is invalid. I pointed out earlier that the GDP growth the 2nd quarter of 2008 was also 2% but by the 4th quarter it was -8%. GDP growth is not the key indicator of the future, nor is unemployment rate but rather are indicators of the present. Durable goods sales, new housing starts, bond rates and many others are indicators of the future and that is what we should be looking at and addressing.

    Putting your fingers in your ears and chanting LALALALALALALALA doesn't make potential recessions go away but invites them to be catastrophic.
     
  10. TheKeefer

    TheKeefer Active Member

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    Recessions come and go no matter who has the oval office.

    Senate and congressional committees have more impact with the economy than any sitting president, especially when a president is a lame duck.
     
  11. StillBlue

    StillBlue Well-Known Member

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    Unfortunately the Senate is a problem. McConnell refuses anything, no matter how bipartisan, if it could be used to put Trump in a bad light.
     
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  12. jdog

    jdog Banned

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    Before I begin I want to get one thing straight, I am not a liberal, in fact I am a Libertarian which makes me far more conservative than a Republican. With that being said, the fact that we are heading into a recession is inevitable and has nothing to do with politics.
    Our economy is debt based, meaning the purchasing power of consumers is based on their ability to borrow and not how much money they actually have.
    Economic cycles are predicated on over confident consumers purchasing goods and services using future earnings. In the beginning of this cycle, debt has the effect of supercharging the economy at the cost of a recession latter on in the cycle when consumers take on more debt than they can service.
    The timing of recessions are not tied to GDP but to the rise in delinquency and default rates, which are rising and signaling the consumers are reaching the end of their ability to service their debts.
     
  13. PARTIZAN1

    PARTIZAN1 Well-Known Member

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    Why was Popeyes importing Chinese Chicks? .....ooooops, I meant Chinese chickens......as in chicken boobs and chicken thighs...
     
    Last edited: Sep 3, 2019
  14. PARTIZAN1

    PARTIZAN1 Well-Known Member

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    Or could be used to put any light onto Trumps activities....
     
  15. PARTIZAN1

    PARTIZAN1 Well-Known Member

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    The same thing about countries reaching an end where they cannot service their debt. But government can "print money" hense xtend it's debt timetable. So eventually interest rate increase and we the citizens the consumers pay for the debt created by government in our name.
     
  16. PARTIZAN1

    PARTIZAN1 Well-Known Member

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    A guy promises 4% but delivers 2% and you call it a "delivered promise"? Do you also claim that Trump delivered the wall and that Mexico paid for it.
     
    Last edited: Sep 3, 2019
  17. APACHERAT

    APACHERAT Well-Known Member Past Donor

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    Here's the poop on the Chi-Com chickens.

    The colonel sends chickens to China and China indoctrinates the chickens in Maoism and political correctness then chops off their heads and cut them up and send them back to America on a COSCO container ship where they eventual find their way to KFC, Churches and Popeyes.

    But remember one thing, Beijing communist government is a huge donor to the Democratic National Committee and many Democratic politicians and Comrade Alexandria Ocasio-Cortez.
    Also Bill and Hillary Clinton and the Obamas.

    9/28/2014
     
  18. PARTIZAN1

    PARTIZAN1 Well-Known Member

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    Sure and Russia and Russian oligarchs are huge donors the the Trump campaign. ......... ok I can play that game...

    So has General Tsoas Chicken Been replaced by ChiCom Chicken.
     
    Last edited: Sep 3, 2019
  19. APACHERAT

    APACHERAT Well-Known Member Past Donor

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    The only Russian money trail found so far ends at the Clinton's Family Foundation.

    The only Chi-Com money trails all seem to end at the DNC coffers and Democratic politicians campaign funds.
     
  20. jdog

    jdog Banned

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    Governments can do so indefinitely, providing they are one of the worlds dominant powers. They simply use war to balance the books.
     
  21. ronv

    ronv Well-Known Member

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    Speaking of Russian money, How is that inauguration investigation going?
     
  22. APACHERAT

    APACHERAT Well-Known Member Past Donor

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    If you are referring to the DOJ investigation into the Obama inauguration and "transition team," Eric Holder sealed the results of that investigation.

    But here's what was leaked...
    In December of 2008 there was a large sum of money transferred from the Obama transition team to the ALMIGHTY BLACK P STONE NATION. (Formerly known as the Black Stones Rangers)
    This answered the question that many blacks in the "Hood" were asking from South Central L.A. to the South Side of Chicago...is Obama a Crip or a Blood ?

    The answer is...Obama is a Blood.

    Obama is also a hodad from Hawaii.

    Obama also gave Vladimir Putin every thing he wanted with nothing in return.

    Obama also gave Iran everything they wanted.

    Obama also gave his "JV Team" ISIS and the Taliban what they wanted, politically correct rules of engagement that favored America's enemies and caused American troops to bleed and die in the name of political correctness.






     
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  23. Moi621

    Moi621 Well-Known Member Past Donor

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    Meanwhile,
    Don't y'think :flagus: is better off economically than it
    has been since Clinton - Bush, Jr. - Obama?

    I do.
    That troika before had their episodes of economic melt down by whatever name.
    Have we experienced Trump created unemployment. etc. as with each of the "troika"?
    In that troika time, people were insecure about their job existing next month.
    That insecurity is not so apparent today. Haven't felt such security since Reagan.

    I know someone just must find someone's number to say the above ain't so.

    <waiting> <foot tapping>


    And incessant predictions of recession are apparently
    politically motivated treason damaging the nation via people's security in the economy.
    If a few economist were hanged for failure of their recession to appear,
    we might witness honest economic forecast.

    Then shall our ears with pleasure listen To widow's wail and orphan's cry of hanged economist.
    Treasonous, politically motivated, economist.



    Moi :oldman:


    Don't :flagcanada:ize, :flagus:
     
  24. PARTIZAN1

    PARTIZAN1 Well-Known Member

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    War is not a productive endevour albeit at times necessary.
     
    Last edited: Sep 3, 2019
  25. PARTIZAN1

    PARTIZAN1 Well-Known Member

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    Don't believe everything you read. Russian oligarchs are tied into thrvTrump family business and they have been for a while.
     

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