Economic Situation Thread

[Leo Gura]

Share perspectives here about the American economic situation under Trump.

 

[ChadT]

 

[ChadT]

I was a Peter Schiff fan for a bit.  Especially after the 2008 financial crisis.  The problem with him is, he has been screaming the sky is falling for the last 20 years.  Especially regarding the national debt.   I admire his passion and reasoning though.  He really believes it, and makes a pretty good argument. 

Edited yesterday at 03:40 AM by ChadT

[Terell Kirby]

Make America Broke Again

Trump is obsessed with maintaining a strong man image hence starting a trade war- highly impulsive, non strategic and ego driven.

And you can forget the notion of him ever listening to an economist or an expert on such matters, the very notion of following expertise of any kind is elitism according to the populist right- we must stick it to elites and go on a crusade against economic globalism to protect our imperialist stance/power against all foreigners, despite domestic consequences (this is the ideology). 

Americans have made their choice-expect a doubling down despite evident economic turmoil. Most would choose a recession in exchange for the for the feeling of comfort a strongman gives them. It’s like selling your soul just for a few seconds of someone tickling your butt

Edited yesterday at 10:45 AM by Terell Kirby

[Bufo Alvarius]

 

[Raze]

 

[kray]

All my share values crashed down the toilet 😭

[Twentyfirst]

 

[FourCrossedWands]

Imagine if Europe removed the current tariffs. 0% tariffs between US and EU. That's what I would call a happy ending.

[ItsNick]

I'm happy I sold all my stocks the moment Trump got elected

[OBEler]

Very good channel about impact of AI and plan of government to prepare for AI war.

Edited 19 hours ago by OBEler

[Leo Gura]

21 hours ago, ChadT said:

The problem with him is, he has been screaming the sky is falling for the last 20 years.

The time is nigh for the broken clock to be right.

Edited 19 hours ago by Leo Gura

[Terell Kirby]

 

[Twentyfirst]

 

Edited 19 hours ago by Twentyfirst

[Vynce]

@Leo Gura Just a little off-topic. But I see you and sometimes others here being too casual with the term "fascist" for a guys like Trump.

Do you really belief it is justified to mention Trump in the same sentence as Benito Mussolini, Adolf Hitler or Francisco Franco? Who were the main drivers for the most horrible genocides in human history? It is extra puzzling for me, since I know you studied dictators and fascist regimes a lot.

Isn't this completely watering it down?

[Hardkill]

1 hour ago, Leo Gura said:

The time is nigh for the broken clock to be right.

Yeah ChadT is right about Peter Schiff being a constant doomer on the US economy, particularly when the country is lead during a Democratic presidency. However, I fear that you’re right, Leo. The broad consensus amongst top economists and financial experts now is that Trump’s tariff policies are absolutely beyond stupid and more than likely to cause the US economy to crash for no good real reason. Even Zandi and his team of economists and Krugman, all of whom rightly predicted the 2008 financial crisis and rightly predicted that the economy during Biden’s president would achieve a soft or softish landing, have been saying for a while now that Trump’s policies are not only going to be inflationary, but also could likely cause a recession if Trump doesn’t back off with his tariff policies. 
 

Not to mention that Trump’s moronic tariff regime is seriously jeopardizing millions of Americans retirement funds and ruining the stock market.

This completely outdated and extreme tariff policy is not how our country will be able to address the unfair practices that have occurred for decades.

[ChadT]

Yeah, this one is gonna be bad, for sure.  We will be lucky to avoid a depression.   And that's if Trump reverses course fairly quickly.   America's credibility could take a decade, or two, to recover from all this.  And rightly so.  We can no longer be trusted.  We have elected an immoral clown.  Twice!   My hope is, this gets so bad, that it can no longer be ignored and excused by anyone, except the most avid Trump sycophants, and we truly learn the right lessons from all this.  There is a chance some good can come from all the pain I fear we are about to feel.  I haven't completely given up on the American electorate.   This is showing in the markets now, but it's coming to main street very soon!   And who knows, Trump could reverse on a dime tomorrow.  Looking less and less likely, but it's not impossible.  The republican rank and file in congress are already getting very nervous. 

Winston Churchill once famously observed that Americans will always do the right thing, only after they have tried everything else

One thing I heard someone say about Schiff once that rang true...  He has accurately predicted 23 of the last 2 recessions.  

[ChadT]

 

About halfway in this vid Tom gets pretty detailed regarding how these tariffs actually break down.  Pretty interesting. 

[FourCrossedWands]

Even Putin said he liked Biden more as a president because he was predictable.

[Leo Gura]

Putin is eating this up. Trump is the very guy who the Russians invented the term useful idiots for.

Trump is bringing American hegemony to its knees by scoring own-goals. And Putin knew all this back in 2015.

Putin is sipping vodka, eating caviar, and laughing with his oligarchs at how stupid Americans are.

It's like playing chess with an orangutan who just hung his queen, while Putin is Kasparov.

Edited 10 hours ago by Leo Gura