Society => The American economy => Topic started by: RE on Apr 21, 2025, 01:39 PM
Title: Trumponomics
Post by: RE on Apr 21, 2025, 01:39 PM
Time to reboot Ben Lichtenstein! ;D
How far down can El Trumpo crash the stock market and the dollar before the Illuminati take matters into their own hands? His Royal Trumpness of course looks for someone else to blame for the chaos he is creating, now fixating on Jerry Powell. who he himself appointed in his 1st term. The Trumponator would like to appoint another syncophantic yes-man who would cut interest rates, which would make the problem worse since the Bond Vigilantes would dump USTs and the Dollar even faster. The economic chaos which would ensue if the Trumpernutter had unfettered control over the central bank is scary to imagine. Even without full control, the dollar's status as world reserve currency has its days numbered now. If the BRICS could get their shit together fast enough and agree on a structure for a common currency now, about nobody would sign a new contract denominated in dollars.
Thursday is May Day. Look for a Black Thursday selloff. The only thing that will stop a full on crash this week are market circuit breakers.
Dow slides more than 950 points as Trump rips Fed Chair Powell, reigniting investor worries: Live updates
Title: Dow Headed for Worst April Since 1932 as Investors Send ‘No Confidence’ Signal
Post by: RE on Apr 22, 2025, 04:17 AM
Could the economic newz possibly be any WORSE for the Trumpenator? He absolutely WILL NOT STOP,ever, until the economy is DEAD!
lol.
Now, futures market is predicting a Dead Cat bounce for early trading, but with the onslaught of negative numbers, I'll bet by late day trading any gains will be lost.(https://i.seadn.io/gae/YN-zBFj9VBRKauROKdXjYmgZXFxvj0NJna8ZPUplysRzEfWqAb7KZTJZKmuhPjTNg2_d7ObwS6D2BwqK0590I0fIMt6cF8ce3_gxPDM?auto=format&dpr=1&w=1000) Still predicting a major sell off for Thursday.
On top of the tariffs,Trumpernutter proposes to charge Chinese flagged tankers a $5M port fee! Does he reallyy think the Chinese can't find another country to sell the oil to?
El Trumpo is the Collapse Gift that keeps on giving.
Dow Headed for Worst April Since 1932 as Investors Send 'No Confidence' Signal
Title: - Trumponomics
Post by: K-Dog on Apr 22, 2025, 03:42 PM
Total theater.
A new SEC chairman is named Today. so the Trump team bought on the close yesterday. MTG probably made another killing playing shorts with inside info. They cashed out at the end of the day. They wait for their leader to tell them when he is going to drive the market down next. Then when it is low, they will short the market again. This new Trump lackey will make sure the game stays fixed. Giving him the job brought the market up.
Trump picks crypto backer Paul Atkins as new Securities and Exchange Commission chair.
The source of all value is labor, and crypto has zero labor content. Crypto is intended for the sole purpose of worship at the church of unearned riches.
The American people never asked for crypto and I for one think it is a really fucking bad idea. There is substantial evidence showing that in areas where gambling is legal, young men suffer from gambling-related debt and addictions. (https://harmreductionjournal.biomedcentral.com/articles/10.1186/s12954-018-0251-9?utm_source=chatgpt.com)
Not everyone has a brain and we should not be creating social institutions that prey on the ignorance of the stupid. Particularly when the social institution is nothing more than a new way to gamble. Crypto will contribute nothing but pain to the social corpus.
Crypto serves absolutely no social need. Zero, nada, nothing.
Title: US to impose tariffs of up to 3,521% on south-east Asia solar panels
Post by: RE on Apr 22, 2025, 05:42 PM
3521% HTF did they come up with that number? This shit is like stories from The Onion or the Harvard Lampoon. ::) :P
Not a good week to quit sniffing glue.
US to impose tariffs of up to 3,521% on south-east Asia solar panels
QuoteThat potentially disastrous combination of slowing growth and rising inflation is difficult to overcome. Although economists don't yet expect anything close to the so-called stagflation of the 1970s, the rapid reordering of global trade dynamics is causing tremendous confusion and unease among consumers, businesses and traders.
High unemployment should keep prices down. But when 'Make America Great Again' means returning to 1973 via inflation introduced by Trump tariff, we get a shitshow.
Trump Calls Groceries an 'Old-Fashioned' Word During Tariff Speech: - It Sort of Says a Bag with Different Things in It
Tariffs are a national sales tax on imported goods. Trump does this, and at the end of the year he makes tax breaks on the rich permanent. One tax merely replacing the other, and Trump gives America new regressive taxes. Nothing else changes, and here is the important thing which is missed.
A national plan to bring manufacturing back to America would be Socialist. Trump and other republicans would never allow it. The same people who exported manufacturing are not going to import it. ::)
All Trump is doing is moving taxes to the lower class so his base will kiss his royal ass. Any plan to move manufacturing to America would reduce profit. Trumps base is all about getting as much as they can for themselves. They are Nazis.
They think their way is the American way. All you can for yourself, and fuck everyone else. The not so secret handshake of the rich.
Title: YoYo Economics
Post by: RE on Apr 23, 2025, 11:54 AM
Happy Days are Here Again! Powell keeps his job and China's tariffs get slashed. Trump was read the riot act by the Illuminati. Back up goes the YoYo.
The problem with YoYo-nomics is nobody can plan anything, because policy changes every time the economic wind changes direction or his Trumpness has a bad day on the golf course. There is no economictheory here, it's all the "art of the deal" which is Trumpspeak for bullying. You can't bully the Bond Vigilantes, there's no one person you can sit down and make deals with.
So, now that the stock market is all perky again, how long till the next crisis? 2 are waitingg in the wings, the Fed Budget and the CRE market which has a reckoning coming. There is also no guarantee China will just forget about the Tariffs and all the threats. They can still quietly dump USTs to keep the pressure on interest rates.
Nothing will kill the Trumpenator's approval numbers faster than empty shelves at Wally World. MAGA Konsumers gotta get their shopping fix! Can't wait to see what starts running out first. ;D
Title: Trump and the GOP have no way out of the Big, Beautiful Bill. That’s the problem
Post by: RE on May 22, 2025, 12:00 PM
Inching closer to a Bond Vigilante rebellion. Also popular rebellion when the Medicaid cuts are implemented. As I mentioned after the Trumpenator backed off on the Tariffs to halt the market slide, the next big crisis would come with the budget and balloning deficit. The Repugnants have painted themselves into a very tight corner, and there are only 2 chances everything will go right for this to work...slim & none.
Onward into the Valley of Economic Death go the 600...
(https://chasingthesquirrel.com/doomstead/proxy.php?request=http%3A%2F%2Fpilotfire.com%2Fwp-content%2Fuploads%2FStool.png&hash=3e60c57b1778e51051e1fd81eec6eddd52e084cd)The phrase "built on tariffs, spending cuts, and tax cuts" (in the bond article above), relates directly to the economic philosophy and policies of Herbert Hoover. Hoover supported protective tariffs to shield American industries and agriculture from foreign competition. He signed the Smoot-Hawley Tariff Act (1930), which raised tariffs on over 20,000 imported goods. The tariffs backfired when other countries retaliated with their own tariffs >:( , [who coulda knowd?] It was the kickoff to the Great Depression. Hoover attempting to balance the federal budget cut government expenditures and exacerbating economic hardship. It is now a known fact that Keynesian economics stimulates the economy by increasing government spending and lowering taxes to boost aggregate demand during downturns. Encouraging production and job growth.
Tariffs are a sales tax at the end of the day. A regressive tax. Trump has increased taxes on the MAGA economic class while he cuts taxes for the already monied. Trump is doing a Hoover.
Get ready for the great depression 2.0 (https://external-content.duckduckgo.com/iu/?u=http%3A%2F%2Fwww.americanyawp.com%2Ftext%2Fwp-content%2Fuploads%2F1467AE20F9482CB146094D5A3DED58CF1.jpg&f=1&nofb=1&ipt=e01c4468fd0ce839044fba05e4d94af8d46cd131cfb9f52c8df2795a4616a34c) . That picture was taken ten miles from where I am, and almost a hundred years ago. Seattle's homeless know the area well.
Title: Trump threatens steep tariffs on trade with the European Union — and on iPhones
Post by: RE on May 23, 2025, 11:59 PM
Deja Vu tariff shenanigans with the stock market, this time threatening Europe and iPhones instead of the Chinese. Wait a week for the short squeeze when he postpones or cancels them. It's the Trumpenator personal cash machine. Buy the Dip!
Trump threatens steep tariffs on trade with the European Union — and on iPhones
RE
Title: - Trumponomics
Post by: K-Dog on May 24, 2025, 02:22 PM
Quote from: RE on May 23, 2025, 11:59 PMDeja Vu tariff shenanigans with the stock market, this time threatening Europe and iPhones instead of the Chinese. Wait a week for the short squeeze when he postpones or cancels them. It's the Trumpenator personal cash machine. Buy the Dip!
Trump threatens steep tariffs on trade with the European Union — and on iPhones
RE
I saw some of the Trump verbal diarrhea on a podcast. Trumps bullshit generator was at full throttle because he knows not what the fuck he talks about.
Every trade regime, free or protected creates winners and losers. Who these winners and loosers are is complicated. Overall the distinction follows class, and not national lines. The working classes of all countries lose together, while trans-national capital makes bank. Trump has made 9 billion in four months.
Interesting the expressions on the other people in the room.
Title: Dow surges by more than 700 points after Trump hits pause on tariffs (again)
Post by: RE on May 27, 2025, 07:04 PM
$KA-CHING!
As predicted, EU tariffs now postponed, Market Yo-Yo back up, more EZ money for Trumpolini's day traders. This is so blatant it's an embarrassment. Will the SEC do anything? Of course not.
Dow surges by more than 700 points after Trump hits pause on his EU tariff threat (again)
RE
Title: Crackdown on illegal mines as China tightens critical mineral controls amid row with
Post by: RE on Jun 04, 2025, 03:40 AM
This one ups the ante quite a bit in the Trade War with China. Given the dependency of the chip hardware on rare earths ans so many products now dependent on chips, an embargo on rare earth exports is nearly as crippling as an oil embargo was on Japan prior to WWII.. It should fairly rapidly demonstrate that Trump's belief the Chinese are more dependent on trade than tthe FSoA is slightly mistaken. Well, moronic is more accurate.
Only question is how long until he capitulates, then claims he planned it all along?
Crackdown on illegal mines as China tightens critical mineral controls amid row with US
RE
Title: Whither Medicaid?
Post by: RE on Jul 01, 2025, 06:58 AM
We're coming down to the wire on Trumpolini's "Big Beautiful Ugly Bill", which besides cutting taxes for the rich will eviscerate Medicaid, which a huge number of low income people depend on to supplement Medicare, particularly in Alaska. It remains to be seen whether Lisa Murkowski will vote against it, but even if she does it will take an additional 2 as yet unidentified Repugnants to vote no to crash the bill.
Yours truly of course is one of the folks depending on Medicaid. and I have no idea how it plays out for me if it passes. No idea where the line will be drawn on who gets cut or whether the state will cough up money to fill in. I do know if I get cut it will also cut many of the other residents of the Gulag with me, and how this place would stay open is a mystery. Very exciting. lol.
US Senate moves toward final vote on big budget bill, with Alaska at the forefront
RE
Title: ‘It’s harsh. I mean, brutal’: Trump bill to cause most harm to America’s poorest
Post by: RE on Jul 03, 2025, 04:52 AM
Looks more and more likely Trumpolini's Big Ugly Bill will pass, which means now the question is how it will all end up playing out. Obviously the 16M people about to lose their Medical Coverage will be none too happy, but since they're low income people with zero political power their complaints won't bother his Trumpness much. More bothersome will be how the Bond Vigilantes react to the additional $3T in debt he'll have to sell to pay for making the rich richer? Who wwill buy this toilet paper? Perhaps with the Trump brand name plastered on the bonds the MAGAotts will buy them as collector's items?
Anyhow, the operative word of the week is UGLY. It's gonna get ugly out there.
'It's harsh. I mean, brutal': Trump bill to cause most harm to America's poorest
RE
Title: Trumponomics
Post by: K-Dog on Jul 05, 2025, 10:22 AM
The most detailed and credible analysis of the projected mortality impact of the "One Big Beautiful Bill" comes from Yale University researchers, whose findings are cited across multiple sources in search results.
Annual Death Toll: 51,000 Americans
Have we ever seen that before?
HO Ho Ho Ho Chi Minh -- Ho Ho Ho Donald Trump
Tax cuts, spending hikes on defense and border security, and cuts to social safety nets in one 📦 giant package.
And America is without a political party that will work for those in need.
And that is why this is the Doomstead Diner.
5 points if you spot the mistake in the math. No 10 points, because if you point the mistake out and solve this puzzle my point is only made stronger.
Title: Trumponomics
Post by: K-Dog on Jul 05, 2025, 01:16 PM
The Psychological Tactics Behind Republican Work Requirements in Social Programs
Republican lawmakers have long championed work requirements for social programs like Medicaid, SNAP (food stamps), and housing assistance. These policies are framed as promoting self-sufficiency and personal responsibility, but a deeper analysis show psychological and rhetorical strategies to advance broader political and economic goals. A deliberate use of psychological and rhetorical strategies intended to blow smoke up your ass.
Republicans consistently frame work requirements as a way to restore dignity and encourage self reliance echoing America's cultural emphasis on individualism. Republicans define welfare as a handout that must be earned.
Bill Clinton's Personal Responsibility and Work Opportunity Act imposed strict work requirements for welfare. Bill shifted the Overton window and Republican Propaganda became Democratic Party Propaganda. He significantly changed the way the Democratic Party was funded by modernizing its fundraising strategy and embracing large-scale, corporate-style donor operations that had previously been more associated with the Republican Party. I leave it to you to connect the dots.
Ending welfare as we know it played into narratives about lazy welfare queens, a racially charged stereotype popularized by Ronald Reagan involving several Cadillac cars, a fat woman, and lots of kids. None of the stereotype was true. Most welfare recipients already worked, but the law led to deep cuts in assistance without significantly improving any employment outcome due to a paperwork trap that made benefits hard to get.
Republican lawmakers argue that Medicaid expansion under the ACA discourages work, despite studies showing 92% of Medicaid recipients who can work already do. They simply can't afford private insurance. They do not make enough money. Framing the issue as moral rather than economic, Republicans bait and switch. The switch avoids any talk of stagnant wages, lack of childcare, and the realities of gig work, which does not at the end of the day, pay.
Work requirements exploit deep-seated cognitive biases to make asshole policies seem reasonable. It is done to make shit smell good.
If someone looses benefits, it's assumed they did something wrong. The system is rigged so people loose benefits in a red tape paperwork trap. Low wages, disabilities, no fucking jobs, are considerations that are not talked about. With the onus of responsibility moved, it is assumed that everyone can easily comply with work requirements.
The Arkansas' Medicaid Work Requirement (2018) shows otherwise. The state imposed a 20-hour a week work requirement for Medicaid. 18,000 people lost coverage for failing to report their hours. People working could not jump through the hoops. Sick people could not do the paperwork.
Republicans do not care. They just say everybody dies.
Title: Trump’s Big Bill Will Make Americans Uninsured Again
Post by: RE on Jul 06, 2025, 07:32 PM
Trump's new law strips coverage, jacks up costs, and risks 200,000 deaths
Various estimates have come dropping in for the potential death count resultant from the Big Ugly Bill, starting down around the ridiculously low figure of 50K. How do you count up such a number? Which deaths do you attribute to lack of access to care when hospitals close? Which from peoplee who choose not to go to the doctor because they know they can't afford it? Over what time period are you measuring this death toll?
Suffice it to say, the numbers are likely gross under estimates, but one thing is clear. The death toll whatever it is will fall disproportionately on the poor. The effects however won't stop there, since a huge number of middle class families of health care workers get paid by the medicaid budget.
Whatever it ends up being will take quite a while to play out. Unpleasaantt time.
Trump's Big Bill Will Make Americans Uninsured Again
RE
Title: Trumponomics
Post by: K-Dog on Jul 06, 2025, 08:11 PM
The OBBBA's Medicaid cuts are catastrophic in scale, with 11.8M–17M losing coverage, 1M+ jobs vanishing, and $100B+ in economic activity evaporating annually.
Rural areas and vulnerable populations (disabled, elderly, children) will bear the brunt.
First wave: Administrative disruptions and provider strain (2025–2026) Second wave: Mass coverage losses and job cuts (2026–2027) Third wave: Economic collapse in vulnerable states (2028–2034)