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#307739 - 07/30/18 06:58 PM the economy
jgw Offline
enthusiast

Registered: 05/22/06
Posts: 2143
Loc: Port Angeles, WA
I have been preaching, for some time, that the economy of the jackass will fail. Here is a link to some charts:
http://time.com/money/5290948/stock-market-2018-7-investing-charts/

Basically, its starting to fail. Its down 1.2% since the first of this year and has been waaay too volatile. Its virtually impossible to time the market but there are long time trends and this one seems to be on a down curve. If you can't afford to hold on through a downturn I would suggest you get out right now.

The reason I am posting this is because I have had waay too many friends who get out when it hits bottom and never get in again so they just lose their money. Remember, its a veritable surety that if its behaving this way during a Republican administration, we are going to have an economic downturn as this this seems to be an historic fact.

Just saying............



Edited by jgw (07/30/18 07:00 PM)

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#307743 - 07/31/18 10:12 AM Re: the economy [Re: jgw]
NW Ponderer Online   content
Moderator
Carpal Tunnel

Registered: 09/09/11
Posts: 16238
I had been meaning to address this over the last week of Trump crowing about economic numbers. Virtually everything he has taken credit for are what are known in economics as "trailing indicators". In other words, the trends her takes credit for have largely nothing to do with Trump policies. This time last year, the New York Times published the story,The Markets Are Up, Unemployment Is Down.
How Much Credit Should Trump Get?
(NYT, subscription). Then, as now, the answer remains, "largely, none." The full story on Trump's 'economic turnaround' - CNN. The upshot? Like most every pronouncement of Trump, it is mostly misdirection and downright prevarication. Fact Check: More lies, false claims by Trump - Capitol Hill Blue.

It's basically still Obama's economy he's taking credit for. As you've noted, when Trump's economy kicks in, we're headed for a fall. A big one.
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A well reasoned argument is like a diamond: impervious to corruption and crystal clear - and infinitely rarer.

Here, as elsewhere, people are outraged at what feels like a rigged game -- an economy that won't respond, a democracy that won't listen, and a financial sector that holds all the cards. - Robert Reich

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#307744 - 07/31/18 02:04 PM Re: the economy [Re: jgw]
Ujest Shurly Offline
newbie

Registered: 10/16/16
Posts: 356
Loc: Sterling Heights, MI, USA
Just chumming the waters...


The chum ... MSN
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Vote 2018; give meaning and honor to those who made sure you have the right to vote.

Life is like a PB&J sandwich
The older you get, the moldery and crustier you get.

Now, get off my grass!

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#307745 - 07/31/18 03:31 PM Re: the economy [Re: Ujest Shurly]
NW Ponderer Online   content
Moderator
Carpal Tunnel

Registered: 09/09/11
Posts: 16238
Here's how the Trump economy works: Trump weighs big tax cut for rich: report - THE HILL. Note, this is intended to be a unilateral gift, not going through Congress.
Quote:
Treasury Secretary Steven Mnuchin at a recent G-20 meeting in Argentina said if the tax cut can't be done through Congress, the administration will "look at what tools" are necessary to consider the move.

"If it can't get done through a legislation process, we will look at what tools at Treasury we have to do it on our own and we'll consider that," Mnuchin said. "We are studying that internally, and we are also studying the economic costs and the impact on growth."
The problem, of course, is that it has already been studied: Indexing Capital Gains to Inflation - the Wharton School.
Quote:
Our analysis suggests that this policy would cost $102 billion dollars over the next decade. While high-income households would benefit most, the share of taxes paid by AGI would not change meaningfully.

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#307746 - 07/31/18 08:55 PM Re: the economy [Re: NW Ponderer]
rporter314 Online   content
old hand

Registered: 03/18/03
Posts: 6528
Loc: Highlands, Tx
Quote:
when Trump's economy kicks in, we're headed for a fall
and that is where you are wrong. Mr Trump has taken credit for the gift from Pres Obama but when his economy tanks he will turn it back over to Pres Obama.

Do you not understand how narcissism works? grin
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ignorance is the enemy
without equality there is no liberty

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#307747 - 07/31/18 09:49 PM Re: the economy [Re: rporter314]
Greger Offline

Pooh-Bah

Registered: 11/24/06
Posts: 14285
Loc: Florida
Quote:
we're headed for a fall


Boy Howdy are we ever.

Everybody in the world except Republicans knows this. World leaders are talking behind our backs now, making plans without us...we're not cool anymore. Just like us, they know that, along and along, the grits are gonna hit the pan.

Trump has said and done a lot of really awful stuff. But so far nothing that has really roiled the markets. Business is ticking along as usual in spite of Mr. Trump. The world is holding its breath. A favorable turnout for Democrats in November would render him virtually powerless. Otherwise everybody has to wait until 2020. If we don't correct this mistake by then, things might get really dicey...This is like slowly clacking up the tallest roller coaster in the universe...

Such a ride...good times, eh?
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