Economics Thread

"AT&T employees have also bore the brunt of the company’s debt-recovery efforts. The Communications Workers of America — the country’s biggest telecom union — this week complained that AT&T has laid off 37,818 jobs since the Tax Cuts and Jobs Act was passed in late 2017, the precise opposite of what the company promised while it was lobbying for the law’s passage."

Who could have seen that coming?

But dem $500 BONUSES THO.
 
59 pages arguing about which president is more responsible for wind blowing and rain falling.

https://www.nytimes.com/2017/01/17/...er-over-the-economy-than-you-might-think.html

"But the reality is that presidents have far less control over the economy than you might imagine. Presidential economic records are highly dependent on the dumb luck of where the nation is in the economic cycle. And the White House has no control over the demographic and technological forces that influence the economy.

Even in areas where the president really does have power to shape the economy — appointing Federal Reserve governors, steering fiscal and regulatory policy, responding to crises and external shocks — the relationship between presidential action and economic outcome is often uncertain and hard to prove.

It’s this quirk in how we think that unfairly enhances the reputation of Ronald Reagan and Bill Clinton while unfairly diminishing the presidencies of Jimmy Carter and both George Bushes."
 
Suppose Trump championed Green Technology. No doubt that sector of the economy would explode.

95% of discussion on which POTUS has driven the economy is itsrlf driven by the false claims and propoganda from the tribe of Trump Machine
 
That is the point I have been trying to get across to some people on here. The best thing they can do in the short term is spend a **** load. More money in the economy equals better economy. Its the secret no one wants to admit publicly in Washington. Thats why IMPOTUS is spending like a drunken sailor and Republicans dont care. As soon as a Democrat takes office they will be screaming bloody murder about the debt to try and kneecap the economy so they can use it as a campaign talking point.
 
Top 8 Largest Dow Jones Drops in American History.

1) Trump: -1,191 2/27/20
2) Trump: -1,175 2/5/18
3) Trump: -1,032 2/8/18
4) Trump: -1,031 2/24/20
5) Trump: -879 2/25/20
6) Trump: -831 10/10/18
7) Trump: -800 8/14/19
8) Trump: -799 12/4/18

WINNING.
 



Livestream of the market tanking. Already down almost 1000 again today. Only need 4 more days like this to completely wipe out all the gains from Obama who was so bad he took the stock market from 9k to 20k in 8 years.
 
57Brave said:
Top 8 Largest Dow Jones Drops in American History.

1) Trump: -1,191 2/27/20
2) Trump: -1,175 2/5/18
3) Trump: -1,032 2/8/18
4) Trump: -1,031 2/24/20
5) Trump: -879 2/25/20
6) Trump: -831 10/10/18
7) Trump: -800 8/14/19
8) Trump: -799 12/4/18

WINNING.
Click to expand...

Live by the sword, die by the sword.

I would love to go back and read your praise of the administration when the Dow Jones was performing at record levels.

(By the way - I give Trump little credit for the market’s performance and zero blame for the drops this week. I think it’s dangerous to use one market signal as a political weapon. It would be like saying “walks are the only important statistic”).
 
chop2chip said:
Live by the sword, die by the sword.

I would love to go back and read your praise of the administration when the Dow Jones was performing at record levels.

(By the way - I give Trump little credit for the market’s performance and zero blame for the drops this week. I think it’s dangerous to use one market signal as a political weapon. It would be like saying “walks are the only important statistic”).
Click to expand...


https://www.google.com/search?q=tru...rome..69i57.9243j0j8&sourceid=chrome&ie=UTF-8

…………

you may not give him credit all the while his cultists and he himself do
 
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Give Trump credit for what exactly? Obama inherited 2 quagmires in Afghanistan and Iraq and an economy that was melting down from the housing crisis. Febuary of 2009 the Dow Jones was under 9,000. When Obama left office it was at almost 20,000. The economy was already doing well. What he has done is make a series of short sighted moves like running trillion dollar deficits, huge tax cuts, etc to supercharge an already great economy. That's all well and good but that's bad fiscal policy. We should be reigning in the debt when the times are good. The next president could run 2 trillion dollar debts and keep this charade up too but it's going to cause a massive crash at some point.
 
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Thought of the day: History teaches us that quality of leadership is very important during times of panic and crisis.

Might want to google Charles Kindleberger.
 
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I agree but I dont think its done tanking. This Coronavirus stuff could go on for months. I never understand why people would sell their stocks in a market situation like this. Companies are literally taking out ads explaining to people the concept of long term investing.
 
My tastes in economic policy run toward simplicity and elegance.

Here is a simple and elegant plan for dealing with this (and any) prospective downturn.

Send a check of $2,000 to every household that files a tax return this year (half of that amount to individual filers).

Send another check of $4,000 to every household (half for individual filers) if the unemployment rate rises above 4%.

Send another check of $5,000 if unemployment rises above 5%.

Send another check of $6,000 if it rises above 6%.

And so forth.

If we inscribe this in law, we will truly have a powerful system of automatic stabilizers.
 
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