Economics Thread

The Coronavirus stuff is a great example of what I've been saying all along, a President has very little control over the economy and is responsible for very little of its success or failure. A market in China decides to sell some weird animals and now we're probably staring at a brief recession. Booms and busts are far more the result of forces beyond the control of anyone in government.
 
On the surface that seems like a good plan. I think what Trump is doing is pretty obvious he just wants to prop up the economy until the election so he can use it as a campaign issue.
 
striker42 said:
The Coronavirus stuff is a great example of what I've been saying all along, a President has very little control over the economy and is responsible for very little of its success or failure. A market in China decides to sell some weird animals and now we're probably staring at a brief recession. Booms and busts are far more the result of forces beyond the control of anyone in government.
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Trumps tax reform and the roll back of regulations did help the economy. Practically every CEO came out and said it did.
 
When the economy is booming is not the time to be running trillion dollar deficits. It's simply a ploy to flood the country with money while they are in power in hopes of being perceived as economic Jesus and will be screaming bloody murder about trillion dollar debts when not I power because they want the economy to be bad under Democrats. It's all a game to them.
 
Krgrecw said:
Trumps tax reform and the roll back of regulations did help the economy. Practically every CEO came out and said it did.
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I think in the case of some of the regulatory roll back there are costs not measured by GDP and other economic data. Costs associated with environmental degradation, worker health and safety, and so forth. I'm not unsympathetic to the need to cut red tape. But it should be done on a rational basis, with as careful a weighing of costs and benefits as possible. CEOs are not going to give you that kind of balanced assessment.
 
https://www.nytimes.com/2020/03/11/opinion/coronavirus-socialism.html


It is not yet clear how well the American system will respond, but the early signs are far from encouraging. What we’re learning is that our society might be far more brittle than we had once imagined. The virus has laid bare our greatest vulnerability: We’ve got the world’s biggest economy and the world’s strongest military, but it turns out we might have built the entire edifice upon layers and layers of unaccounted-for risk, because we forgot to assign a value to the true measure of a nation’s success — the well-being of its population.
 
Runnin said:
Trump's travel ban sure crashed Europe's markets too.
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In times of crisis, markets look for signs that mature adults are in charge and working together. Like children, they do not react well when parents start fighting. I don't think chosen one realizes how bad it looks when he starts talking about the "foreign virus" and how the Europeans suck.

Most of the time, the country runs fine on autopilot. During times of crisis quality of leadership matters. Bigly.
 



Another banner day at the stock market. Down 2k now. I watched it for 5 minutes and it lost 200 points. We could finish the week under 20k. Surely Republicans would never dare politicize this if it was happening under Obama.
 
Stock market closes down 2,373 points which is about a 10% drop. Largest point drop in history. Trumps going to end up having the worst 25 day plunges in the stock market soon. I always though **** would hit the fan with him when the economy crashes. Here we go.
 
cajunrevenge said:
Stock market closes down 2,373 points which is about a 10% drop. Largest point drop in history. Trumps going to end up having the worst 25 day plunges in the stock market soon. I always though **** would hit the fan with him when the economy crashes. Here we go.
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He really needs to be locked in a rubber room and his phone take away until things get under control. Maybe if he tests positive for the virus and gets sick the world might get a little reprieve from his constant flow of useless banter.
 
The Chosen One said:
How much longer until the gains from 2017 onward are gone?
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It's taken a month of hard falling to lose 8200 pts and a little over 5200 pts to get back to the point where Trump's bear market began on 2/8/16. At that rate about 3 weeks. But another week like the last one will have people jumping out of windows.

The WHO should not have feared the word pandemic and given countries cover to do the needed testing. Once the virus jumped to Iran and Italy, it was clear as day there was a pandemic.
 
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