US Retail increases BIGLY in July

https://www.cnbc.com/2018/08/15/us-retail-sales-july-2018.html

Making America prosperous again. Of course, we'll hear the excuses that it's Obama's "economy"(the same economy mind you that for 8 straight years struggled to get itself hitting at par scores lol.). Anyway, spending is up, wages are up, unemployment is down and consumer confidence is way up.

For those who don't have TDS, it's a wonderful time to be an American.

 

crumbs...

TRUMP SUCKS! BLUE WAVE!

 

Unfortunately, so did consumer debt. I hate bubbles.

 

Bu-bu-but OMAROSA !!!!!

 

How about the Spend-o-crats stop opposing any attempts to reel in government waste in our fat-filled budget?

The current OUTRAGE of a budget was passed as they HELP THE MILITARY HOSTAGE for their giveaways...and the GOP was still too BALL-LESS to stop them.

 

Oh my noes more winning!

 

Bull crap. Trump's proposed spending bill - before it was even sent to Congress - had over a $1 trillion dollar deficit built in, so please stop with the holier than thou crap. It's just pathetic. Trump is a typical spend crazy politician trying to buy good economic numbers with fake money.

 

We need a Congress willing to make spending cuts.

 

People have more money, and are more confident in the future.

This benefits us all, except for lefty politicians.

Dems be like...

 

Good news for America is bad news for democrats, globalist, ISIS, and all of the rest of our enemies.

 

Agreed.

 

In reality, taxes are going to have to go up, spending is going to have to go down.

Both of that is going to put some breaks on the economy, but if it's not done it's just going to kick the can further down the road making it worse.

 

This is actually a big deal.

http://www.politicalforum.com/index...ll-have-big-effect-on-the-u-s-economy.531352/

 

Or a balanced budget amendment, and zero based budgeting.

 

Yep, we've seen it before. People also spent money they didn't have under GWB, leading to a temporary boom, which was followed by the biggest bust in 2008.

It seems GOP voters LIKE the whiplash boom and bust economy, where the busts hurt them as much as anyone else. Why else would they continue to vote for policies that have a history to produce such cycles?

Or could it be they are just happy to blame the busts on the Dems, who later come in to clean up the mess?

In any case, before you celebrate too much, look at consumer debt measures etc. This and the money injected by unpaid-for tax cuts will show you that this expansion, again, is entirely based on debt, i.e. it is fake and not built on fundamentals.

 

Increase? Who gives a damn. Retail is a dying business model that is still on life support.

 

Too bad.

If you want your guns, you have to pay for the butter too.

Besides, the GOP and Trump both made it clear that they didn't care about deficits even before the budget bill was introduced.

Trump's reckless tax cut bill is 100% paid for with borrowed money. You will be paying that back, out of your own pocket.

As for the budget, this is exactly what happened with Reagan and George W Bush. Exactly.

Dick Cheney said "deficits don't matter" when he and George were borrowing and spending.

McConnell talked about debt for eight years, and suddenly forgot all about it too.

The GOP has the majority in both houses. They could have gone on record cutting all sorts of social programs, even if the effort got blocked in the Senate.

They didn't.

Why? Because they know that the majority of the people getting aid from all these programs are their constituents, even if half of them sit in front of their AM radio ranting about "moochers" while waiting for their next check.

 

I think you're going to find that all these hyper inflated growth numbers that Trumpsters like to cite, are going to be revised downward significantly in coming months. That is what happened in June.

The outlier is an increase in exports, which every expert puts down to advance spending in anticipation of Trump's trade war.

That growth will not only disappear, but you're likely to see shrinkage, as Trump prices American goods out of competition in global markets, and the buyers have had time to find substututes.

 

The US Economy had been built on debt since Bretton Woods. I'd hate to sound like a Kenyesian economist, but the facts of the yuge sums of money that global economies manufacture these days, means that our economies lack a foundational point of existence to start with. The key to our economic growth has been stable activity, and basically for the first time since yes, the last bubble we're getting some upward movement.

The key will be stabilizing that movement. That in the ebbs/flows of the economy, we maintain a certain stability that's above water so that no matter what happens, the 'economic foundation' of today's 21st century world is not upended.

If we can maintain this ebb/flow, if we can maintain this positive growth then that's as fundamental as one can get.

 

I wouldn't worry about "sounding like an Keynsian" , if I were you.

You don't.

You sould like a gold bug.

However, you do have this right:

" The key to our economic growth has been stable activity, and basically for the first time since yes, the last bubble we're getting some upward movement."

This is the key to the anxiety that most of the world feels over Trump's reckless tax bill and GOP spending.

We've all seen this movie before. Twice in my adult lifetime.

And edifice built on borrow and spend starts to rot almost immediately, and always ends in recession and fiscal crisis.

Which is precisely the course the Trump administration has put us on.

 

The policies of the Trump Administration have not been on borrowing spending, rather through the various "trade wars" and through other economic injections of capital(injections of capital that people hoped for in the previous administration and what should've happened when Obama passed the first stimulus), jobs are being created, people are being hired for those jobs and even better: Promotions within these various companies.

Guess what? The economic expansion can still be much, much larger. You have no idea on over a course of 30 years just how much we lost in production. That 30 year gapping hole, had to be filled at some point. And it's not even close to being filled yet. The gains we've made are significant, but still not enough. Especially competing against spending(while spending has slowed, it's impossible per say to stop the spending.) So the rate of investment must exceed the rate of dollars spent.

Getting us to that level,. is the strategy. It will not 'floor out', because we've already hit rock bottom in 2008. There are several things I'd love to do that the POTUS isn't doing. I'd love to break up the monopolies of banks and other major corporations. I'd love to engage in a massive debt forgiveness program. And I've spoken of my personal interests of directing resources directly to said job expansion and creation.

If we head in this direction, the economy will continue to go up. There's trillions in clogged money, waiting to be unleashed that will help with public/private sectors. Daycares, schools, roads and all of it. The POTUS has at his fingertips the potential to revolutionize the economy in ways not seen since the .com explosion or the industrial age revolution. America, for the first time in decades is poised for major gains.

Now, what the hell is a gold bug?

 

Lol, are we in ww2?

My guns are protected rights.

Your butter (freebies) aren't.

 

I don't know what you're talking about, and it's clear that you don't either.

Borrow and spend is the core of the Trump economic policy. I have no idea where you made up the idea that spending has slowed, but the opposite is true. Trump will run a record $2 trillion deficit next year.

Trump, or more accurately Mnuchin and McConnell committed us to a substantial tax cut for the very wealthy, every nickel of which is financed with borrowed money.

Then, because he wanted his military advance, agreed to a budget that will produce a record deficit at a time when the US is at peace (relatively) and prosperous.

This has happened twice before in my adult lifetime. Once under Ronald REagan, and once with George W Bush.

Every economist and many people my age know how this is going to end. We've seen this act before.

Indeed, I predicted that this was precisely what the next GOP Congress and White House would do if it ever got the chance again. I made that prediction ten years ago, and have stuck by it ever since. Now it's coming true.

I have little doubt that the aftermath will as well. Like I said, I have been through two recessions that were the fallout of borrow and spend. This one will be no different.

I fully expect that economy to be falling again by the spring of 2020. Hopefully, we won't be too far gone to do something about it. But, with Trump's clown car in charge, there's a lot of reason for concern.

 

The Left: Tax cuts= "crumbs"
Return of manufacturing jobs= bad
Taking on unfair trade = bad
3%+ average annual growth = bad
record low unemployment = bad
Wages increasing = bad
retail booming = bad
consumer confidence booming = bad
business confidence booming = bad
increased tax revenues = bad
excessive government spending = not bad, not cause of deficit(s).

 

In a nutshell, now TDS has infected even relatively positive good economic news.