That 'booming' economy?

[magicalmoments]

Really, just curious, is the volcano affecting your mainland at all, I do wish your people safety even if you're a clown.

No, the wind is currently blowing the ash plume out to sea. Plus it seems to be calming down.

 

[DawnONight]

#235 above.
You're taking a lot on yourself.
Badly ravaged by the likes of you! You don't present arguments. You post right wing propaganda from assorted sites which are known to display extreme right wing bias. Or you are simply quoting to latest economic stats that are currently trending in a way that suits your particular bent.
I note you never list stats of trends that don't suit you, like how's the trade deficit going? What about the budget deficit, or the national debt? They never get a mention.
As for calling the boy schizoid, you know damned well I was responding to his invitation to diagnose his personality disorder, it was not an insult but an honest opinion.
I would be happy to debate you anytime on any meaningful topic. The problem is that I've yet to see you post anything meaningful.

I'll ask again.

You have accused me of racism. I have asked you to "show me even one single post by me that was 'racist.'" So far, you have only deflected.

Put up or shut up. Either show one racist thing I have said, written, or done, or be man enough to publicly apologize for the libel.

I see I was right about you, magicalmoments. You're not man enough to admit you were wrong.

Meanwhile:

T. Hains, CNBC's Jim Cramer: Best Jobs Numbers I've Seen In My Life, We Can Win China Trade War With These Numbers, RCP (Dec. 9, 2019).

 

[PrincepsCyberius]

I see I was right about you, magicalmoments. You're not man enough to admit you were wrong.

Meanwhile:

T. Hains, CNBC's Jim Cramer: Best Jobs Numbers I've Seen In My Life, We Can Win China Trade War With These Numbers, RCP (Dec. 9, 2019).

He won't apologize. He's not a man. He's just another cowardly racist, like so many of the leftists on this cite.

I love how after he accused you of posting "right wing propaganda from assorted sites which are known to display extreme right wing bias," you reply with a citation to left-wing CNBC. Nicely played.

Now I wonder if jaF0 regrets initiating this thread, as it's become a forum for displaying the success of Conservative economic policies.

 

[DawnONight]

He won't apologize. He's not a man. He's just another cowardly racist, like so many of the leftists on this cite.

I love how after he accused you of posting "right wing propaganda from assorted sites which are known to display extreme right wing bias," you reply with a citation to left-wing CNBC. Nicely played.

*Takes a bow*

Thank you, Darling; I've been on a roll lately.

Let's look at some more good economic news which I suppose he will say I got from another right-wing source like NBC News:



L. Bayly, Trump confirms U.S. and China have reached agreement on trade deal, NBC (Dec. 13, 2019).

 

[DawnONight]

Now I wonder if jaF0 regrets initiating this thread, as it's become a forum for displaying the success of Conservative economic policies.

Given that the original premise of this thread was exactly wrong, what else could he expect?

Meanwhile:

The American fracking for oil and natural gas boom will continue on through the 2020s. And why not? Since fracking took off in 2008, we have more than doubled our proven oil reserves to ~65 billion barrels. Natural gas reserves have surged over 80% to ~430 trillion cubic feet. Already the largest oil and gas producer, the U.S. is set to increase its share of ~17% of global oil production and ~23% of gas. In the 2020s, the U.S. is set to supply over 60% of new oil and gas (see Figure below)....

https://specials-images.forbesimg.com/imageserve/5de94ff2b269e900075d7d75/960x0.jpg?fit=scale

So when looking at the individual U.S. state level, the ongoing rise of our shale oil and gas output is staggering. All presidential candidates should think about this: in the 2020s, the state of Ohio alone is expected to add as much oil and gas to global supply as Russia (see Figure below)....

https://specials-images.forbesimg.com/imageserve/5de9575725ab5d0007006bc4/960x0.jpg?fit=scale​

J. Clemente, The U.S. Dominates New Oil And Gas Production, Forbes (Dec. 8, 2019).

 

[Fuzzy1975]

Given that the original premise of this thread was exactly wrong, what else could he expect?

Meanwhile:

The American fracking for oil and natural gas boom will continue on through the 2020s. And why not? Since fracking took off in 2008, we have more than doubled our proven oil reserves to ~65 billion barrels. Natural gas reserves have surged over 80% to ~430 trillion cubic feet. Already the largest oil and gas producer, the U.S. is set to increase its share of ~17% of global oil production and ~23% of gas. In the 2020s, the U.S. is set to supply over 60% of new oil and gas (see Figure below)....

https://specials-images.forbesimg.com/imageserve/5de94ff2b269e900075d7d75/960x0.jpg?fit=scale

So when looking at the individual U.S. state level, the ongoing rise of our shale oil and gas output is staggering. All presidential candidates should think about this: in the 2020s, the state of Ohio alone is expected to add as much oil and gas to global supply as Russia (see Figure below)....

https://specials-images.forbesimg.com/imageserve/5de9575725ab5d0007006bc4/960x0.jpg?fit=scale​

J. Clemente, The U.S. Dominates New Oil And Gas Production, Forbes (Dec. 8, 2019).

So I have sent a bunch of time on this, and while I do agree the US is the leading producer in the world ( has been since 2012) I can't figure out where the numbers used in the supplied graph come from.

This is all I can find for world production that lists all sources that put it in one list, it does jive with numbers I found elsewhere so I am good using it:

https://en.wikipedia.org/wiki/List_of_countries_by_oil_production

https://en.wikipedia.org/wiki/List_of_countries_by_natural_gas_production

Using these world production values, the math doesn't work to meet the graph.

Also from sources embedded in the article, I can't find back up documentation showing the figures.

There are supporting information, which does prove the placement of the US as the number 1 producer, but nothing close to the level shown in the charts.
An example below

https://oilprice.com/Energy/Energy-General/Can-The-US-Become-Energy-Independent-By-Next-Year.html

A point of reference, while producing it, or having the ability to produce, is not the main issue. Getting the product to market, or finding customers that is what counts.

So in Canada we are handcuffed. We are already maxed out logistically. We can produce way more than we can move to market.

Second, where is the market, who are the customers, while the price of oil per barrel is sort of fixed by the producers, the cost of transporting is not. Russian/Middle East oil will be cheaper to sell in Europe/China than US oil. Canada knows this part well in trying to find markets for our oil.

 

[magicalmoments]

Not sure I've mastered links to web pages but posters who are interested in impartial and balanced analysis may find this article interesting. Deals with the medium to long term impacts of uncontrolled national debt on an economy.

https://www.pgpf.org/the-fiscal-and-economic-challenge/fiscal-and-economic-impact

 

[jaF0]

"U.S. Steel plans to indefinitely idle "a significant portion" of its Great Lakes Works production facility in Ecorse and River Rouge and will issue WARN notices to 1,545 workers at the steelworks the company said Thursday.

"The operations at the Zug Island plant will begin to go dark in April 2020. No employees will be affected before then, according to a statement from U.S. Steel.

https://www.crainsdetroit.com/manufacturing/us-steel-idle-operations-zug-island-plant-lay-1545


Go Go Tariffs!!!

 

[BabyBoomer50s]

American spirits are running high wtr the US economy. Enjoy and Merry Christmas everybody! e

https://www.google.com/amp/s/amp.cn...ics/cnn-poll-economy-2020-matchups/index.html

 

[dan_c00000]

A point of reference, while producing it, or having the ability to produce, is not the main issue. Getting the product to market, or finding customers that is what counts.

The stats come from Rystad Energy. They look like some general pro-oil group. Racist, anti-Semitic dawn's main problem is that the oil being removed is far more carbon intensive to get and is far dirtier than "easy" oil.

Also that while there may be more oil there's more new spending and jobs in green energy than in fossil fuels. This goes for the world too, not just the US.

 

[Fuzzy1975]

Also that while there may be more oil there's more new spending and jobs in green energy than in fossil fuels. This goes for the world too, not just the US.

Oil is to become a stranded assets in the next 50 years. You can disbelieve man made climate change, but that doesn't change the facts.

As I mentioned the Canadian issue, we have relatively easy oil,( tar sands excluded) but still have logistic bottlenecks to transport to market. The capital costs of these pipeline projects are becoming harder to sell to investors. So if the market will dry up in 30 -50 years, is there enough return on my investments to bother investing?

 

[The_Trouvere]

The only thing I have gotten from the Trump economy has been regular rent increases. Those started as soon as he became president. Under Obama my rent was reduced by $50 a month. One month I was allowed to avoid paying any rent at all.

 

[DawnONight]

The only thing I have gotten from the Trump economy has been regular rent increases. Those started as soon as he became president. Under Obama my rent was reduced by $50 a month. One month I was allowed to avoid paying any rent at all.

Two questions:

1. Why do you think you should get to live rent-free?
2. Do you really think of all that happens in the economy, your rent is dependant upon who is in the White House?

 

[Stephen_Coyle]

When Donald Trump was running for president, he told voters he would run the country like he ran his business. It turns out, that's one of the few promises he’s actually kept. Family members are doing jobs they’re not remotely qualified for. Corruption and self-dealing are a regular feature of life inside the administration. Trump is surrounded not by the “best,” but by the dumbest people. And, like his Taj Mahal casino—along with all the other businesses that ultimately went bust—the nation’s debt is soaring under the mismanagement of the "very stable genius".

During the campaign Trump claimed that he would eliminate the national debt in a period of eight years. Actually, the national debt has exploded under Trump, but Trump is unconcerned about the financial mess that he's created, because he “won’t be here” when the shit truly hits the fan.

 

[DawnONight]

For the first time since data began to be collected in 1949, the United States officially exported more petroleum than it imported in September.

The U.S. was already a net exporter of natural gas and coal. In September, the nation also became a net exporter of petroleum, shipping out more than it brought in....

In late November, researchers at consulting firm Rystad Energy projected that the surplus will persist and grow larger.

The U.S. “will be energy independent on a monthly basis, and by 2030 total primary energy production will outpace primary energy demand by about 30%,” according to Rystad Energy Vice President Sindre Knutsson....

The U.S. produced 373.9 million barrels of oil in September 2019, the most recent data available from the Energy Information Administration. The record was set a month earlier, when the U.S. produced 384.3 million barrels in August. By comparison, the U.S. produced 126.4 million barrels of oil in August 2005.

Improvements in fracking technology are largely responsible for the increased production. For example, in 1993, North Dakota produced 76,000 barrels of oil a day. By 2018, production had increased to 1.3 million barrels per day, a 16-fold increase.

“These changes in the U.S. energy balance could turn its petroleum deficit of $62 billion in 2018 to a surplus of $340 billion by 2030,” Knutsson said. “That adds up to a $400 billion shift, in the space of only a dozen years, thanks primarily to the gargantuan rise of output from the U.S. shale sector.”​

H. Matkin, For First Time Since 1949, US Exported More Oil Than It Imported, CapCon (Dec. 17, 2019).

 

[Secretive_Victoria]

then why has their been 7,000 farmers filing for bankruptcy and why is the suicide rate for farmers increasing?

Those are excellent questions.

Family farms have borne the brunt of Trump’s trade war with Beijing. American soybean exports have collapsed as China levied its own punishing taxes on U.S. crops — total soybean exports are now only a third what they were in 2018.

Unable to sell their produce, small farmers have been forced to take on mountains of debt just to keep their land in growing condition. Smallholders now face the worst levels of farm debt since the doldrums of the 1980s. Across the country, farm incomes are held down by nearly half a trillion dollars in avoidable debt.

Farmers aren’t to blame for their current struggles. After all, Trump boasted that “trade wars are good, and easy to win!” As more and more farmers face the ugly choice of adding debt or selling their ancestral lands, Trump’s speechwriters have wisely left that arrogant bumper sticker phrase out of his recent speeches.

Trump has tried to staunch the bleeding in rural America by abandoning any pretense that the Republican Party stands for fiscal conservatism. Instead, Trump is leaning on one of the few tools he knows: bribery. In a move that unnerved White House legal staff, Trump announced that farmers would receive emergency cash payments totaling nearly $30 billion.

Trump, once a vocal opponent of (Obama-led) bailouts, now presides over the largest agricultural bailout since the prolonged Farm Crisis of the 1980s, when record production and an embargo against the Soviet Union led to deflated crop prices and a shortage of export markets.


In a darker development, Washington Post reporter Annie Gowen recently reported on a sharp spike in suicides among small farmers — caused in large part by an inability to bridge the gaps imposed by Trump’s sweeping disruption of foreign trade.

You read that right — the same farmers Trump crowed were “with him from the absolute beginning” are now so desperate in the face of Trump-inflicted harm that some are choosing to kill themselves rather than face losing their livelihood.

Calls to suicide hotlines in American farm country have grown under Trump. Trump's trade policies have had a real and damaging impact on the welfare of the American people.

In South Dakota, Agriculture Week reports, the rural suicide epidemic has become so acute that the state recently launched a hotline and support services for farmers in psychiatric crisis. Suicides, already more prevalent in rural communities than in big cities, become a larger problem when farm sector profits are hovering near their lowest level in two decades.

 

[jp55665566]

New ag trade deal with China.

 

[Secretive_Victoria]

Almost 41 million people live in poverty, 18.5 million of them in extreme poverty, and children account for one in three poor, he said. The United States has the highest youth poverty rate among industrialised countries, he added.

“Its citizens live shorter and sicker lives compared to those living in all other rich democracies, eradicable tropical diseases are increasingly prevalent and it has the world’s highest incarceration rate...and the highest obesity levels in the developed world,”

https://www.reuters.com/article/usa...destitute-under-trump-un-expert-idUSL5N1T406V

I'm sorry, but if we had a booming economy we would not have millions of Americans living in extreme poverty.

 

[BotanyBoy]

Almost 41 million people live in poverty, 18.5 million of them in extreme poverty, and children account for one in three poor, he said. The United States has the highest youth poverty rate among industrialised countries, he added.

“Its citizens live shorter and sicker lives compared to those living in all other rich democracies, eradicable tropical diseases are increasingly prevalent and it has the world’s highest incarceration rate...and the highest obesity levels in the developed world,”

https://www.reuters.com/article/usa...destitute-under-trump-un-expert-idUSL5N1T406V

I'm sorry, but if we had a booming economy we would not have millions of Americans living in extreme poverty.

You're conflating wealth equity with the the economic productivity.

41 million folks living in "poverty" that most of the world would LOVE to upgrade to and 18.5 million folks living like most the planet, doesn't mean the other 280ish million of us aren't doing well, and the upper half of that aren't absolutely fuckin' killin it....because we are.

 

[Secretive_Victoria]

And while rich people have seen the values of their stock portfolios go up, wages have remained stagnant.

And while taxes have gone down for the super rich, the tax burden for ordinary Americans has gone up!

Economically, the average American is worse off now than they were before Trump was sworn into the White House.

 

[BotanyBoy]

And while rich people have seen the values of their stock portfolios go up, wages have remained stagnant.

That sounds like an unskilled wage worker problem that has nothing to do with the health of the economy.

And while taxes have gone down for the super rich, the tax burden for ordinary Americans has gone up!
Economically, the average American is worse off now than they were before Trump was sworn into the White House.

And last I checked those were both flat out lies.

The last might fly if you're dishonest enough to consider the minority of poor people "average" and "ordinary".

 

[Jesus_Ateo]

Those are excellent questions.

Family farms have borne the brunt of Trump’s trade war with Beijing. American soybean exports have collapsed as China levied its own punishing taxes on U.S. crops — total soybean exports are now only a third what they were in 2018.

Unable to sell their produce, small farmers have been forced to take on mountains of debt just to keep their land in growing condition. Smallholders now face the worst levels of farm debt since the doldrums of the 1980s. Across the country, farm incomes are held down by nearly half a trillion dollars in avoidable debt.

Farmers aren’t to blame for their current struggles. After all, Trump boasted that “trade wars are good, and easy to win!” As more and more farmers face the ugly choice of adding debt or selling their ancestral lands, Trump’s speechwriters have wisely left that arrogant bumper sticker phrase out of his recent speeches.

Trump has tried to staunch the bleeding in rural America by abandoning any pretense that the Republican Party stands for fiscal conservatism. Instead, Trump is leaning on one of the few tools he knows: bribery. In a move that unnerved White House legal staff, Trump announced that farmers would receive emergency cash payments totaling nearly $30 billion.

Trump, once a vocal opponent of (Obama-led) bailouts, now presides over the largest agricultural bailout since the prolonged Farm Crisis of the 1980s, when record production and an embargo against the Soviet Union led to deflated crop prices and a shortage of export markets.


In a darker development, Washington Post reporter Annie Gowen recently reported on a sharp spike in suicides among small farmers — caused in large part by an inability to bridge the gaps imposed by Trump’s sweeping disruption of foreign trade.

You read that right — the same farmers Trump crowed were “with him from the absolute beginning” are now so desperate in the face of Trump-inflicted harm that some are choosing to kill themselves rather than face losing their livelihood.

Calls to suicide hotlines in American farm country have grown under Trump. Trump's trade policies have had a real and damaging impact on the welfare of the American people.

In South Dakota, Agriculture Week reports, the rural suicide epidemic has become so acute that the state recently launched a hotline and support services for farmers in psychiatric crisis. Suicides, already more prevalent in rural communities than in big cities, become a larger problem when farm sector profits are hovering near their lowest level in two decades.

Federal study: Trump tariffs backfired, caused job losses and higher prices

https://thehill.com/policy/finance/...backfired-caused-job-losses-and-higher-prices

 

[Fuzzy1975]

Federal study: Trump tariffs backfired, caused job losses and higher prices

https://thehill.com/policy/finance/...backfired-caused-job-losses-and-higher-prices

This is not something that we just learned. World Trade has understood this for a while now. Trade deals are not perfect, but they are much better than trade wars.

 

[Secretive_Victoria]

Under Trump the American Middle-Class is dying and America is becoming more and more like a third world nation.

https://mavenroundtable.io/theintel...2lW1rqTJROx6z65P2xhUKtbW1oALXE_Gt8w2axN3hCiHM

 

[BotanyBoy]

Under Trump the American Middle-Class is dying and America is becoming more and more like a third world nation.

https://mavenroundtable.io/theintel...2lW1rqTJROx6z65P2xhUKtbW1oALXE_Gt8w2axN3hCiHM

"under Trump" lol what a bunch of propaganda bullshit.

Those trends started 20 years ago....30 in California.

1 clue as to why, look at the kinds of governments 3rd world shit holes have, they're almost all "progressive".