The Dumpsterfire Economy

[Dondilion]

Yes, more legal immigration.

[Chicks]

Actually, the Stock Market Has Barely Moved the Last Two Years Under Trump

https://finance.yahoo.com/news/actua...205112353.html

And this was written before this morning’s Service sector report, which is further melting down the markets. Dog help us should tomorrow’s jobs report be bad. MAGA! (Whatever happened to our resident MAGAMorons? Have they finally realized their stupidity?)

[donquixote99]

Originally Posted by Chicks

Actually, the Stock Market Has Barely Moved the Last Two Years Under Trump

https://finance.yahoo.com/news/actua...205112353.html

And this was written before this morning’s Service sector report, which is further melting down the markets. Dog help us should tomorrow’s jobs report be bad. MAGA! (Whatever happened to our resident MAGAMorons? Have they finally realized their stupidity?)

Never underestimate the lengths people will go to to not realize their stupidity.

[Chicks]

The entire American steel industry just got downgraded

https://www.cnn.com/2019/10/04/busin...ade/index.html

MAGA!

[Chicks]

Foxconn finally admits its empty Wisconsin ‘innovation centers’ aren’t being developed

https://www.theverge.com/2019/10/23/...ant-trump-deal

This was pretty much a forgone conclusion two years ago...

[Chicks]

The day the Trump boom died

https://www.sltrib.com/opinion/comme...man-day-trump/

So what happened to the Trump boom? The collapse in confidence began late last year, when it became clear that Trump was serious about waging trade war on China; it continued as evidence accumulated that the 2017 tax cut was a big fizzle, doing basically nothing to boost business investment and providing at most a brief sugar high to overall growth.

But the truth is that even pessimists expected the tax cut to do more good, and the trade war less harm, than they did. Why have things turned out so poorly? One answer, to which I’ve subscribed, is that in addition to its direct impacts on U.S. exports and businesses that rely on Chinese suppliers, the trade war has created damaging uncertainty. Businesses that rely on global supply chains won’t invest for fear that the trade war will get even worse; but businesses that might move in to replace imports also won’t invest for fear that Trump will eventually back down.

I suspect, however, that there’s even more to the story. Business interests spent a long time in denial, but now even they are facing up to the reality that Trump and his team are very strange people who have no idea what they’re doing — and the uncertainty that reality implies.

I mean, considering that trade confrontation with China is the centerpiece of Trump’s economic policy, it’s not reassuring to learn that his trade war czar, Peter Navarro, has an imaginary friend — a source named “Ron Vara” whom he has repeatedly cited in his books, but who doesn’t exist, and whose name is in fact just an anagram of “Navarro.”

Next year’s election should be about Trump’s betrayal of his oath of office. Realistically, however, it also matters that the economy probably won’t be his friend.

Paul Krugman

[Dondilion]

Originally Posted by Chicks

The day the Trump boom died

https://www.sltrib.com/opinion/comme...man-day-trump/

Paul Krugman?

The man who is now doing all sorts of fancy footwork, revisionism re globalization.

Trump's China policy has already achieved one of its main goal: the decoupling of China from supplying/involving with high value sensitive goods.

If there is uncertainty about the China trade, so be it...that is good.

[Chicks]

Originally Posted by Dondilion

Paul Krugman?

The man who is now doing all sorts of fancy footwork, revisionism re globalization.

Trump's China policy has already achieved one of its main goal: the decoupling of China from supplying/involving with high value sensitive goods.

If there is uncertainty about the China trade, so be it...that is good.

Look, moron, when you win a Nobel in Economics, maybe you’ll have the right to criticize Krugman. Until then, you and your master Carlson have zero credibility. You are laughably uninformed.

https://www.nobelprize.org/prizes/ec.../biographical/

[Dondilion]

Originally Posted by Chicks

Look, moron, when you win a Nobel in Economics, maybe you’ll have the right to criticize Krugman. Until then, you and your master Carlson have zero credibility. You are laughably uninformed.

https://www.nobelprize.org/prizes/ec.../biographical/

Krugman is now on a mea culpa tour.

[donquixote99]

Originally Posted by Dondilion

Krugman is now on a mea culpa tour.

Do you have this from Michael Hirsch, or someone else?

Paul Krugman and other mainstream trade experts are now admitting that they were wrong about globalization: It hurt American workers far more than they thought it would. Did America’s free market economists help put a protectionist demagogue in the White House?

Foreign Policy Magazine