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03-02-2018, 10:40 AM
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Senior Member
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Join Date: Aug 2010
Location: Metro Detroit
Posts: 13,016
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Quote:
Originally Posted by finnbow
Nope. Conservative supply-side theory's foundational document was a sketch on the back of a napkin by Art Laffer for Dick Cheney and Donald Rumsfeld. No fucking wonder it's such a shambolic piece of shit when you consider it was the drunken idea of three half-wits.
https://www.bloomberg.com/news/artic...side-economics
And it's "demagogue," like your dear Trumpenfuhrer.
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Again, you distort. You deride the theory by talking about the failures of those who (mis)applied it. I've covered this already as well in prior posts. Enjoy talking in circles, do ya?
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03-02-2018, 10:47 AM
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Reformed Know-Nothing
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Join Date: Oct 2009
Location: MoCo, MD
Posts: 25,914
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Quote:
Originally Posted by whell
Again, you distort. You deride the theory by talking about the failures of those who (mis)applied it. I've covered this already as well in prior posts. Enjoy talking in circles, do ya?
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It seems to me that if a theory is based upon a fundamentally specious notion and fails spectacularly every single time it's tried, it's a scam. However, being that modern US conservatism has now become a belief-system based upon conspiracy theories and fake news, it's little wonder that you ascribe to it wholeheartedly.
Supply-side economics has as much intellectual heft as Hillary running a child-sex ring out of pizzeria's basement (that doesn't even have a basement).
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As long as the roots are not severed, all will be well in the garden.
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03-02-2018, 11:38 AM
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Senior Member
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Join Date: Mar 2017
Posts: 13,362
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More economic ignorance from Donny & Co.
https://finance.yahoo.com/news/econo...162159427.html
“This is a clear demonstration that the Trump administration does not understand trade economics,” said Bernard Baumohl, managing director and chief global economist at the Economic Outlook Group, in a phone interview. “These tariffs when they’ve been imposed in the past have done more harm than good. The problem is that politicians have an ahistorical memory that goes back sometimes to breakfast.”
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"In a time of deceit telling the truth is a revolutionary act." -
George Orwell
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03-02-2018, 12:12 PM
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Reformed Know-Nothing
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Join Date: Oct 2009
Location: MoCo, MD
Posts: 25,914
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Quote:
Originally Posted by Chicks
More economic ignorance from Donny & Co.
https://finance.yahoo.com/news/econo...162159427.html
“This is a clear demonstration that the Trump administration does not understand trade economics,” said Bernard Baumohl, managing director and chief global economist at the Economic Outlook Group, in a phone interview. “These tariffs when they’ve been imposed in the past have done more harm than good. The problem is that politicians have an ahistorical memory that goes back sometimes to breakfast.”
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“Markets are responding to the very real economic damage to large sectors of the economy that the tariffs will cause,” said Brad McMillan, chief investment officer for Commonwealth Financial Network, which manages $156 billion in assets. “This is a rational response, based on clear economic factors.”
https://www.washingtonpost.com/news/...f-a-trade-war/
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As long as the roots are not severed, all will be well in the garden.
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03-02-2018, 01:39 PM
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Reformed Know-Nothing
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Join Date: Oct 2009
Location: MoCo, MD
Posts: 25,914
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The Wall Street Journal editorial page on Trump's pending trade war:
Donald Trump made the biggest policy blunder of his Presidency Thursday by announcing that next week he’ll impose tariffs of 25% on imported steel and 10% on aluminum. This tax increase will punish American workers, invite retaliation that will harm U.S. exports, divide his political coalition at home, anger allies abroad, and undermine his tax and regulatory reforms. The Dow Jones Industrial Average fell 1.7% on the news, as investors absorbed the self-inflicted folly.
I'm still waiting for Whell to chime in about some idiotic economic theory he found on the back of a cocktail napkin that proves the wisdom of Trump's trade folly.
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As long as the roots are not severed, all will be well in the garden.
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03-03-2018, 06:37 AM
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Reformed Know-Nothing
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Join Date: Oct 2009
Location: MoCo, MD
Posts: 25,914
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The federal deficit could hit $1.1 trillion next year and $1.7 trillion in fiscal 2028, piling on debt that exceeds the size of the economy by the end of the decade, according to a Committee for a Responsible Federal Budget report released Friday.
If Congress extends individual tax cuts beyond their scheduled expiration and continues to raise discretionary spending levels above statutory caps, the debt will grow even faster, reaching $33 trillion or 113 percent of gross domestic product by fiscal 2028, the CRFB analysis said. Under that scenario, annual deficits would top $2 trillion within 10 years.
The CRFB said in Friday’s paper that last year’s tax cut and the newly enacted budget deal among other legislation have “turned a dismal fiscal situation into a dire one.”
https://www.rollcall.com/news/politi...ithin-10-years
The inevitable results of supply-side economics show themselves yet again.
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As long as the roots are not severed, all will be well in the garden.
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03-03-2018, 09:22 AM
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Senior Member
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Join Date: Mar 2017
Posts: 13,362
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Quote:
Originally Posted by finnbow
I'm still waiting for Whell to chime in about some idiotic economic theory he found on the back of a cocktail napkin that proves the wisdom of Trump's trade folly.
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Oh c’mon. Whell gets his theories from better places, like Crackerjack boxes.
__________________
"In a time of deceit telling the truth is a revolutionary act." -
George Orwell
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03-07-2018, 02:31 PM
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Senior Member
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Join Date: Mar 2017
Posts: 13,362
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Forbes: Donald Trump Gained More Money Under Obama Than Any Other Presidency
https://www.forbes.com/sites/danalex.../#31604a626dba
Donald Trump got richer during Barack Obama’s presidency than he did during any other administration, adding some $2.9 billion as the economy rebounded from the Great Recession. So far, he’s down an estimated $400 million since the start of his own presidency.
__________________
"In a time of deceit telling the truth is a revolutionary act." -
George Orwell
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03-09-2018, 09:56 AM
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Senior Member
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Join Date: Aug 2010
Location: Metro Detroit
Posts: 13,016
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Quote:
Originally Posted by finnbow
The inevitable results of supply-side economics show themselves yet again.
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They sure do:
https://www.bloomberg.com/news/artic...ns-slow-to-2-6
The U.S. added 313,000 jobs in January beating the estimate of 205,000. Bloomberg’s Mike McKee reports.
The U.S. economy enjoyed the biggest hiring spree since mid-2016 in February as workers streamed in from the sidelines of the labor force, but inflation pressures remained muted amid signs the pay gains that spooked financial markets last month haven’t taken hold.
I know you guys keep praying for bad news, so this must really suck for you.
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03-09-2018, 10:04 AM
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Senior Member
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Join Date: Mar 2014
Location: NE Bamastan
Posts: 11,068
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Riding the post-2008 crash Obama recovery. Who knows what this clueless incompetent moron will do to fuck that up.
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I'll believe corporations are people when Texas executes one.
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