The Impending Trump Economic Collapse

[richard_daily]

How long do you predict it will take, and what form will it come in?

There is definitely a housing bubble being created again. Coupled with a lack of affordable housing. ARMs are being offered again like candy.

Taxes were slashed for the richest folks, leaving no money for anyone else. Wages are stagnant.

The folks who crashed the economy last time are still at the wheel, and Wells Fargo is leading the charge towards economic collapse.

I'd give it 2-3 years. Will Trump still be in office or in jail? If he's still in office, who will he blame?

 

[FGB]

I am not sure you can hold out singing that same old song that long...

 

[TalkRadio]

The US economy suddenly looks like it's unstoppable

In the face of persistent fears that the world could be facing a trade war and a synchronized slowdown, the U.S. economy enters June with a good deal of momentum.

Friday's data provided convincing evidence that domestic growth remains intact even if other developed economies are slowing. A better-than-expected nonfarm payrolls report coupled with a convincing uptick in manufacturing and construction activity showed that the second half approaches with a tail wind blowing.

"The fundamentals all look very solid right now," said Gus Faucher, chief economist at PNC. "You've got job growth and wage gains that are supporting consumer spending, and tax cuts as well. There's a little bit of a drag from higher energy prices, but the positives far outweigh that. Business incentives are in good shape."

https://www.cnbc.com/2018/06/01/the-us-economy-suddenly-looks-like-its-unstoppable.html

 

[richard_daily]

https://www.cnbc.com/2018/06/01/the-us-economy-suddenly-looks-like-its-unstoppable.html

The Titanic was unstoppable.

 

[richard_daily]

I am not sure you can hold out singing that same old song that long...

Invest wisely, because it's coming.

 

[phrodeau]

December 22, 2017 - Trump signs tax cut bill. DJIA at 24,754.

January 23, 2018 - Trump imposes tariffs on imports of washing machines and solar panels. DJIA at 26,210.

January 26, 2018 - DJIA peaks at 26,616.

March 1, 2018 - Trump announces tariffs on imported steel and aluminum. DJIA at 24,609.

March 22, 2018 - Trump announces metals tariffs will be exempted for key countries. DJIA at 23,958.

March 23, 2018 - DJIA hits lowest point of 2018 so far, 23,533.

May 31, 2018 - Trump imposes metals tariffs on countries previously exempted. DJIA at 24,416.

June 1, 2018 - DJIA at 24,633.

Number of days with >1% change in 2017 = 8.
Number of days with >1% change in 2018 so far = 25.

More to follow.

 

[HisArpy]

Invest wisely, because it's coming.

So is the end of the world. And Christmas.

 

[richard_daily]

December 22, 2017 - Trump signs tax cut bill. DJIA at 24,754.

January 23, 2018 - Trump imposes tariffs on imports of washing machines and solar panels. DJIA at 26,210.

January 26, 2018 - DJIA peaks at 26,616.

March 1, 2018 - Trump announces tariffs on imported steel and aluminum. DJIA at 24,609.

March 22, 2018 - Trump announces metals tariffs will be exempted for key countries. DJIA at 23,958.

March 23, 2018 - DJIA hits lowest point of 2018 so far, 23,533.

May 31, 2018 - Trump imposes metals tariffs on countries previously exempted. DJIA at 24,416.

June 1, 2018 - DJIA at 24,633.

Number of days with >1% change in 2017 = 8.
Number of days with >1% change in 2018 so far = 25.

More to follow.

The Dow Jones is stagnant due to Trump.

 

[richard_daily]

So is the end of the world. And Christmas.

You act as if the impending crash in unavoidable, but actions that this administration are directly contributing to it. That's ok for you, I guess.

 

[Saint_Ann]

Don't worry Dick. You'll still be getting your Social Security & Medicare.

 

[phrodeau]

Don't worry Dick. You'll still be getting your Social Security & Medicare.

A bump-up of the age to receive benefits is coming. The US will be calling on retirees to go back to work in order to pick the nation's strawberries after the illegals are gone.

 

[bestone4ever]

Economists said just this week that we have a strong economy now because it's been steadily growing over the past 9 years. First time in history that we've had such a sustained growth period.

 

[Adre]

His trade war is selfish, personal, and stupid. If he is allowed to wage it, his base just might get hurt the most. China is already making moves around the world to capitalize on his childish behavior. Xi is no fool.

 

[richard_daily]

A bump-up of the age to receive benefits is coming. The US will be calling on retirees to go back to work in order to pick the nation's strawberries after the illegals are gone.

The increase in cost of fruits and vegetables will just be one of the consequences of Trumponomics.

 

[IrezumiKiss]

Economists said just this week that we have a strong economy now because it's been steadily growing over the past 9 years. First time in history that we've had such a sustained growth period.

http://screensandrhymes.com/thanksobama/images/giphy-1.gif

 

[TalkRadio]

Economists agree: Trump, not Obama, gets credit for economy

Who deserves credit for the booming economy? This is not a petty argument. How voters answer the question could well determine whether Democrats retake the House of Representatives come November.

Happily for President Trump, the pros agree with him. A recent survey of economists suggest it is President Trump, and not Obama, who should be taking a bow.

The Wall Street Journal asked 68 business, financial and academic economists who was responsible for the strengthening of the economy, and most “suggested Mr. Trump’s election deserves at least some credit” for the upturn. A majority said the president had been “somewhat” or “strongly” positive for job creation, gross domestic product growth and the rising stock market.

A year ago in the same survey, economists awarded President Obama mixed grades. Most saw his policies as positive for financial stability, but neutral-to-negative for GDP growth and negative for long-term growth. By contrast, Trump was seen as neutral to positive for long-term gains.

http://thehill.com/opinion/finance/368904-economists-agree-trump-not-obama-gets-credit-for-economy

 

[bestone4ever]

http://screensandrhymes.com/thanksobama/images/giphy-1.gif

And they can't give Trump credit for the current economic climate in the US without giving credit to Obama.

 

[Saint_Ann]

And they can't give Trump credit for the current economic climate in the US without giving credit to Obama.

Or George Washington for that matter.

 

[bellisarius]

And they can't give Trump credit for the current economic climate in the US without giving credit to Obama.

This is true. If Obama hadn't kept the economy on the skids therre's no way that Trump could have engineered this sort of recovery.

 

[bestone4ever]

This is true. If Obama hadn't kept the economy on the skids therre's no way that Trump could have engineered this sort of recovery.

We'll just put you in the "economic illiterate" category. Thank you for self-identifying.

 

[TalkRadio]

Final Tally: Obama's subpar economy cost Americans $2.4 trillion

Economics: The GDP report for the fourth quarter last year was a fitting end to President Obama's time in office. At a tepid 1.9% growth, it means that the economy once again underperformed everyone's expectations.

As late as June 2016, the Obama administration was forecasting that real GDP would climb 2.2% for the year. Actual growth for 2016 was 1.6%, according to the Bureau of Economic Analysis.

Just how weak? Compare GDP growth of the 10 previous recoveries to Obama's, which is now 30 quarters long. What you find is that, on average, the real GDP had grown 33.5% over that length of time. Under Obama, total GDP growth has been 17.1%.

In dollar terms, if Obama's recovery had merely been average, the nation's GDP would be $2.4 trillion bigger. That translates into $19,000 in lost income per household.

https://www.investors.com/politics/...s-subpar-economy-cost-americans-2-4-trillion/

 

[richard_daily]

https://www.investors.com/politics/...s-subpar-economy-cost-americans-2-4-trillion/

Too bad Trumponomics doesn't care about deficit spending.

 

[Wrong Element]

How long do you predict it will take, and what form will it come in?

There is definitely a housing bubble being created again. Coupled with a lack of affordable housing. ARMs are being offered again like candy.

Taxes were slashed for the richest folks, leaving no money for anyone else. Wages are stagnant.

The folks who crashed the economy last time are still at the wheel, and Wells Fargo is leading the charge towards economic collapse.

I'd give it 2-3 years. Will Trump still be in office or in jail? If he's still in office, who will he blame?

Not sure about a "collapse," but it seems likely we're looking at renewed inflation. There are a lot of people too young to remember how unpleasant that can be.


My main question is, are they going to be able to blame it on Jimmy Carter again? Last time they used him as a scapegoat, Carter had been ex-president for 30 years. Now it's going on 40. Seems like a stretch!

 

[richard_daily]

Not sure about a "collapse," but it seems likely we're looking at renewed inflation. There are a lot of people too young to remember how unpleasant that can be.


My main question is, are they going to be able to blame it on Jimmy Carter again? Last time they used him as a scapegoat, Carter had been ex-president for 30 years. Now it's going on 40. Seems like a stretch!

I'd take the economic conditions of the late 70s over the lack of fundamentals that we're facing today.

17.5% APR on my mortgage? No problem if I'm making the adjusted wages that I'd have been making in the 70s. Also, home costs weren't what they are today, adjusted for inflation most people are priced out of the market right now.

Since home ownership is the most significant symbol of wealth for most people, I think it's a fairly good indicator that we're not doing so well.

 

[Saint_Ann]

Not sure about a "collapse," but it seems likely we're looking at renewed inflation. There are a lot of people too young to remember how unpleasant that can be.


My main question is, are they going to be able to blame it on Jimmy Carter again? Last time they used him as a scapegoat, Carter had been ex-president for 30 years. Now it's going on 40. Seems like a stretch!

40 years isn't a long enough time to forget how horrible the Carter years were.