And you believe the Chinese and India? India was just in the news last week as having a very bad, struggling economy. China with the tariff wars just having been tapered off and with the Corona Virus should have a huge deflation of its supposed growth. I do not buy the 7% growth. China is in an even bigger bubble. Did you see their cities filled with empty apartments all funded on credit? Is the US going to just quit spending monies to cut the deficit? Do you think the Democrats are going to cut our deficits when they are for spending more and more monies? Obama spent $10 trillion over his 8 years. The $1.5 trillion the US spent on tax cuts benefits most Americans and work as stimulus for the US economy. More jobs created, meaning more taxes collected too. What would reduce our deficits faster is fair trade with Mexico, Canada and limited trade deals with Japan and China. More exports from the US means more taxes collected from US and foreign companies in the US. That is the way to shrink the deficits in real terms.
Full-year 2019 posts slowest growth in three years at 2.3%
- Thread starter Cuddles
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And you believe the Chinese and India? India was just in the news last week as having a very bad, struggling economy. China with the tariff wars just having been tapered off and with the Corona Virus should have a huge deflation of its supposed growth. I do not buy the 7% growth. China is in an even bigger bubble. Did you see their cities filled with empty apartments all funded on credit? Is the US going to just quit spending monies to cut the deficit? Do you think the Democrats are going to cut our deficits when they are for spending more and more monies? Obama spent $10 trillion over his 8 years. The $1.5 trillion the US spent on tax cuts benefits most Americans and work as stimulus for the US economy. More jobs created, meaning more taxes collected too. What would reduce our deficits faster is fair trade with Mexico, Canada and limited trade deals with Japan and China. More exports from the US means more taxes collected from US and foreign companies in the US. That is the way to shrink the deficits in real terms.
Latest figure on Farm Welfare, due to failed Dump Tariff Tantrum, will be more than double the cost of Obama's Auto Bailout that Reps whined about.
Reps no longer concerned about big gubmint and handouts ... check
Reps no longer concerned about trillions and trillions still be added to national debt ... check
Reps no longer concerned about career politicians (especially of the spineless variety) ... check
Reps no longer concerned about supporting allies and trying to isolate enemies (other than Iran because Israel says so). ... check
and last but not least
Reps no longer concerned about moooorality ... a big fat check
"Power tends to corrupt, and absolute power corrupts absolutely."
Reps no longer concerned about big gubmint and handouts ... check
Reps no longer concerned about trillions and trillions still be added to national debt ... check
Reps no longer concerned about career politicians (especially of the spineless variety) ... check
Reps no longer concerned about supporting allies and trying to isolate enemies (other than Iran because Israel says so). ... check
and last but not least
Reps no longer concerned about moooorality ... a big fat check
"Power tends to corrupt, and absolute power corrupts absolutely."
Do we need another "great recession" so you guys can boast of another longest period of "expansion?"
This is all very nice to see, but what is not so nice to see is the lower half of the middle class shrinking in size, as those at the bottom drop into poverty, and many of those remaining finding their real wages have declined.
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Because of Trump's shenanigans, we risk suffering long term loss of markets to competitors. I'm not at all sure China will stop buying Soybeans from Brazil and go back to buying them from U.S. Farmers just because we have pieced back together trade relations Trump wrecked.
We have no assurances at all, other than Trump's personal word
, that he's any good at all at negotiation. Certainly, there are things unacceptable about China's trade practices. Trump however seems to have no clue about how to go about the delicate art of negotiating win-win trade deals. He plainly hasn't learned that insulting your counter-party is unproductive. In the past, his negotiating technique centered on suing the other guy, or making the other guy sue him to get paid. It's going to be be difficult to transition that technique to cross-border deal making.We got an inking of how bad Trump's cross-border negotiating skills are when Peña Nieto told Donald, "Fuck You, Mexico is not paying for your damn wall!. And no, I'm not going to pretend we will pay, just so your fucking Groupies can get a hard on." (I'm paraphrasing of course.)
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Growth was expected to be higher when coming out of the Great Recession as seen in previous recessions, especially given all the Federal Reserve stimulus efforts and increased Government spending. What kept the growth rate anemic compared to other recoveries was fear. The Obama Administration imposed Obamacare on small businesses and Independent contractors as well as other time consuming and expensive regulations. Regulatory and economic uncertainty stifled new business ventures, capital spending, and hiring. The return on Federal Reserve stimulus and increased Government spending was very low and inefficient, where a case has been made that a well placed $300 billion dollars would all that would have been needed.
The most efficient system is a business friendly environment combined with true free markets and consistently high business and political ethics. The Government’s role is best suited to keeping regulations at a bare minimum, but provide consistent enforcement along with severe penalties for those who attempt to game the system such as attempting to bypass free markets in some way, those who try to get around the few regulations in place, or those who through a pattern of actions could be deemed unethical and risk non-renewal of their operating licenses as an enforcement action by a designated committee or jury.
It is true a significant number of major US corporations fail miserably in the three criteria I mentioned earlier. The historic failure of Republicans and the current failure of the Trump Administration to address this serious issue is providing the Socialists plenty of fuel via disgruntled citizens. I will go more into detail when I address regulations in a major post as promised last week.
While both political parties need extensive reform, they are not going to reform themselves thus we are left trying to address our second most pressing need: Restoring our economy to a solid foundation. Trump’s efforts in this area are beginning to pay off and this is the reason Trump is still our best choice for President.
As far as addressing major reforms are concerned, that is where you and I come in. This is where people of different political philosophies come in, each recognizing the shortcomings of their own system, leaders, and ideas and joining together in one voice and demanding our representatives begin addressing the needs of our system. We can spare them the criminal penalties in exchange for either their resignations or effective implementation of far reaching reforms, subject to the direct approval of the people.
Balance to our system is inevitably coming, whether by Socialism or by reform. Our standard of living can be expected to be much higher under a reformation of our system than Socialism. But either way, big changes are coming.
Care to join forces?
I suspect that India probably is growing 5%+ per year because they are far behind China in terms of development. Which means that all they need to do is copy what the advanced nations are doing and they automatically boost GDP as well as standard of living. Is China growing at 7% per year? They probably were a few years ago, but doubt they are at 7% currently. I question their numbers more than any other nation and I mentioned that in my previous post.
Probably not. But at least the Republicans used to have a somewhat credible stance on fiscal responsibility. They lost that. The way to reduce the deficit is by reducing unnecessary spending. If I recall correctly, the US military branch spends something like $1T per year. So where is our hypersonic weapons? Why are other countries (China and Russia) apparently ahead of us in some areas of weapon technology (hypersonic weapons for example)? I hope the US has a massive inventory of advanced black-project weapons that are hidden from the public and far ahead of what the rest of the world has. So looks like a lot of room there to cut waste. In the state of the union speech last week, Trump mentioned Space Force. We don't need a space force. That's just another branch of government that will be manipulated by politicians to further political objective while providing little real value to Americans and also provide avenues for more waste.
I have pointed out many times that Obama nearly doubled the national debt under his term. Although to be fair, he started with a problem that he inherited. Not all that $10T belonged to him, although most of it. Look at it this way, the 2019 GDP was $21.429T. GDP 2018 was $20.580T (https://countryeconomy.com/gdp/usa). So between 2019 and 2018, GDP increased by $950B. That's less than the increase in the national debt. That suggests that if we actually had to run a balanced budget (which should be reasonable given present economic conditions), GDP would be negative.
Are you a CNN parrot? Please try to think for yourself and try to find something to add to what most heard several times before. Good luck.
Actually the last cable tv news channel I used to watch somewhat regularly was Fox. They lost me when Birther moved from Reality TV star to news star.
Most heard ... many, many?