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Miz Robbie Profile
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Re: Economics 101: Trump-Style


Trump on Coming Debt Crisis: ‘I Won’t Be Here’ When It Blows Up

The president thinks the balancing of the nation’s books is going to, ultimately, be a future president’s problem.

Asawin Suebsaeng, Lachlan Markay | [sign in to see URL] 10:32 AM ET

Since the 2016 presidential campaign, Donald Trump’s aides and advisers have tried to convince him of the importance of tackling the national debt.

Sources close to the president say he has repeatedly shrugged it off, implying that he doesn’t have to worry about the money owed to America’s creditors—currently about $21 trillion—because he won’t be around to shoulder the blame when it becomes even more untenable.

The friction came to a head in early 2017 when senior officials offered Trump charts and graphics laying out the numbers and showing a “hockey stick” spike in the national debt in the not-too-distant future. In response, Trump noted that the data suggested the debt would reach a critical mass only after his possible second term in office.

“Yeah, but I won’t be here,” the president bluntly said, according to a source who was in the room when Trump made this comment during discussions on the debt.

More (but it doesn't get any better) at: [sign in to see URL]

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12/6/2018, 11:41 am Link to this post PM Miz Robbie
 
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Re: Economics 101: Trump-Style


I hope he will be in jail.
12/6/2018, 11:45 am Link to this post PM Bellelettres
 
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Re: Economics 101: Trump-Style


quote:

Bellelettres wrote:

I hope he will be in jail.



I hope you get your hope.

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12/6/2018, 12:31 pm Link to this post PM Miz Robbie
 
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Re: Economics 101: Trump-Style


Me too.
12/6/2018, 12:51 pm Link to this post PM Birdz
 
JustLis Profile
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Re: Economics 101: Trump-Style


quote:

Miz Robbie wrote:

Trump on Coming Debt Crisis: ‘I Won’t Be Here’ When It Blows Up



Gee, Trump doesn't plan to pay his bills?

THAT is certainly something new.

Not.

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Lis

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12/6/2018, 3:16 pm Link to this post PM JustLis
 
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Re: Economics 101: Trump-Style


(]CNN) - Huawei exec's arrest opens a new front in the US-China trade war

The conflict between the United States and China over trade and technology is expanding.

The arrest of a top executive at Chinese tech giant Huawei at the request of the US government has angered Beijing, alarmed investors and raised new doubts about the fragile truce that the leaders of the world's top two economies reached just days ago.

"You have to see this as a significant escalation in the trade war," said Christopher Balding, a China expert at the Fulbright University Vietnam in Ho Chi Minh City.

Viewed by US intelligence agencies as a national security threat, Huawei is one of China's most prominent tech companies. It sells more smartphones than Apple (AAPL) and builds telecommunications networks in countries around the world.

Canadian authorities said late Wednesday that Huawei's chief financial officer, Meng Wanzhou, had been arrested in Vancouver and that the United States is seeking her extradition.

The US and Canadian governments haven't specified what charges Meng faces, but her arrest follows reports this year that the US Justice Department was investigating whether Huawei violated American sanctions on Iran....

Technology is at the heart of the trade war. The Trump administration says the huge waves of tariffs it has slapped on Chinese goods are part of an effort to stop China from getting its hands on American technology unfairly through practices like cybertheft and forcing companies to hand over trade secrets.



NOTE: Tariffs don't DO that! *shaking head*

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Lis

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12/6/2018, 4:59 pm Link to this post PM JustLis
 
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Re: Economics 101: Trump-Style


That blithering idiot has wrecked my IRA. Fortunately, it will recover over time if we can get rid of that imbecile.
12/6/2018, 8:11 pm Link to this post PM CooterBrown44
 
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Re: Economics 101: Trump-Style


(]CNN) - Brutal week: Dow plunges 1,150 points

Worries about the US-China trade war unleashed another round of heavy selling on Friday, capping off a brutal week on Wall Street.

The Dow fell 559 points, or 2.2%, on Friday as investors were left confused by conflicting messages coming out of the White House on the trade negotiations with China. The index was down as much as 663 points at one point. The Nasdaq closed with a loss of 3.1%, while the S&P 500 retreated 2.3%.

For the week, the Dow plunged 1,150 points, or 4.5%. It was the index's worst week since March.

Stocks had been trading higher earlier Friday, but the market turned sharply lower after Trump administration officials seemed to contradict each other on trade.

While White House economic adviser Larry Kudlow sounded an optimistic note about China talks on CNBC, trade adviser Peter Navarro was simultaneously warning on CNN of higher tariffs if issues aren't resolved during a 90-day negotiating period.

"We've gotten a hodge-podge of mixed messages from people in the same administration," said Art Hogan, chief market strategist at B. Riley FBR. "We're not sure who we're supposed to listen to."


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Lis

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12/7/2018, 5:39 pm Link to this post PM JustLis
 
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Re: Economics 101: Trump-Style


(]CNN) - Trump says GM 'is not going to be treated well' after layoffs

President Donald Trump said Thursday that General Motors CEO Mary Barra made a "big mistake" by laying off thousands of workers and pledged to retaliate against the company....

Retaliate how? Trump realizes that the government does NOT control the economy, right???

He lashed out against Barra, calling her actions "nasty...."

Hm. I wonder if he would have chosen the word "nasty" if she were a man.

GM has said it closed plants and laid off workers to better prepare for the future. The company wants to shift production from sedans, which have fallen out of favor with Americans, to SUVs and trucks....

Supply and demand, Donnie. Supply and demand.

Ultimately, Trump said, GM's job cuts won't hurt the US economy. "It doesn't really matter because Ohio is under my leadership from a national standpoint," he said. "Ohio is going to replace those jobs in like two minutes."

*boggle*

So, um, why the hissy fit?

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Lis

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12/13/2018, 10:26 pm Link to this post PM JustLis
 
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Re: Economics 101: Trump-Style


He knows nothing about government, how it works, or actual business. He's still playing his part in "The Apprentice."
12/14/2018, 12:25 pm Link to this post PM CooterBrown44
 
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Re: Economics 101: Trump-Style


quote:

CooterBrown44 wrote:

He knows nothing about government, how it works, or actual business. He's still playing his part in "The Apprentice."



Exactly, Cooter. To him, the Trump presidency is just another reality TV show.

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12/14/2018, 12:47 pm Link to this post PM Miz Robbie
 
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Re: Economics 101: Trump-Style


The old Soviet Union had its five year plan. Now Donnie has his two minute plan for Ohio. Why do I think this 2 minute plan will be just as ineffective as the old Soviet five year plans?

Last edited by GoHawk, 12/14/2018, 1:57 pm


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------------------------------------------------------------------------------
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12/14/2018, 1:54 pm Link to this post PM GoHawk
 
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Re: Economics 101: Trump-Style


It's fast, Hawk! Remember how he always insists things will be done "quickly"? He'll just fail much more QUICKLY than the five-year plans did!

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Lis

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12/14/2018, 2:00 pm Link to this post PM JustLis
 
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Re: Economics 101: Trump-Style


The Dow just dropped another nearly 600 points for the day....

And Ali Velshi just announced that so far, the Dow has had its worst December loss (in percentage terms) since 1931.

Good heavens.

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Lis

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12/17/2018, 5:01 pm Link to this post PM JustLis
 
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Re: Economics 101: Trump-Style


The only true to measure the Dow is by percentage. This is part of a correction and I don't think we're anywhere near finished with it. I expect we'll see another 10% drop in the very near future.



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Peter

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12/17/2018, 5:04 pm Link to this post PM streamline2001
 
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Re: Economics 101: Trump-Style


You're absolutely right. Percentage is the key. I don't think we're finished with it, either, Peter....

The Dow finished down 507 today ([sign in to see URL]%).

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Lis

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12/17/2018, 5:25 pm Link to this post PM JustLis
 
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Re: Economics 101: Trump-Style


Wall Street on pace for worst December in over 80 years.

"U.S. stocks took a beating on on Monday: The Dow Jones Industrial Average closed 507 points lower, while the S&P 500 and the Nasdaq both dropped more than 2%.

Why it matters: The Dow and S&P, both down nearly 7% this month, are on pace for their worst December performance since the Great Depression, per CNBC.
"

]Source.

A recession may be coming. We knew that the market would re-align at some point, but we didn't need an idiot saying and doing things to screw up our economy while claiming victory.
12/17/2018, 8:17 pm Link to this post PM CooterBrown44
 
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Re: Economics 101: Trump-Style


We've been directly struck by Trump's tariff policies.

[sign in to see URL] washer died last week. So you just go get a new one, right?

Not so fast....

Brett decided he wanted a Whirlpool again. Do you think he could FIND one????

After he drove an hour to Indianapolis yesterday to pick one up, he talked with the department manager. So here is the chain of events.

When Trump put the steel and aluminum tariffs in place, Whirlpool had to find a new source of steel to make its washers.

Of course, a lot of other companies were doing the same thing. So there were long waits to get the steel.

While Whirlpool was waiting to get the new steel, they had to shut down their production lines. While they were down, they decided to upgrade their next generation of models. That meant retooling and longer delays.

Once they were ready to restart production, they were shocked (shocked, I say!) that the workers they had laid off due to the delay had found other jobs. Now they had to do a whole new round of hiring and training.

The result is a shortage of washers and a bump in the price tag from $700 to $900.

Thanks, Trump.

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Lis

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12/17/2018, 9:29 pm Link to this post PM JustLis
 
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Re: Economics 101: Trump-Style


quote:

JustLis wrote:

The result is a shortage of washers and a bump in the price tag from $700 to $900.




Holy crap!

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12/17/2018, 10:12 pm Link to this post PM Miz Robbie
 
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Re: Economics 101: Trump-Style


(]CNN) - Dow sinks below 23,000; Nasdaq flirts with a bear market; Oil in free fall

The Dow dropped 464 points, or 2%, on Thursday. The index closed below 23,000 for the first time since October 2017. The Nasdaq lost 1.6% and only narrowly avoided closing in its first bear market since the Great Recession. The S&P 500 declined 1.6%. And US oil prices are in free fall, ending below $46 a barrel for the first time since August 2017.

The latest wave of selling shows how worried investors have become about the eventual demise of the economic expansion. Those jitters were exacerbated by concerns that the Federal Reserve is making a mistake by continuing to raise interest rates....

Market sentiment wasn't helped by a surprise deepening in the budget fight in Washington either. House Speaker Paul Ryan said President Donald Trump won't sign the spending bill needed to prevent a government shutdown. Although a short-term shutdown would not have a large impact on the national economy, it would serve as a reminder of government dysfunction.


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Lis

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12/20/2018, 9:51 pm Link to this post PM JustLis
 


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