Skewering of Leftist Economic "Conventional Wisdom"

[Chicks]

A Peter Thiel-Backed Company Would Benefit the Most From Trump’s 5G Plan

https://finance.yahoo.com/news/peter...205357344.html

What's a little quid pro quo between pals?

[Chicks]

MyPillow CEO lays off 150 people — after crediting president’s tax cuts for "economic boom"

https://www.salon.com/2019/05/12/myp...-boom_partner/

So much winning! Isn't this about the only advertiser left on Fucker Carlson's hate-fest? Hope they go tits up.

[Chicks]

Originally Posted by whell

"Conventional Wisdom" - tax cuts for business are bad, since the business will not pass along the benefit of those cuts to workers, and there will be no economic benefit for anyone except business owners or share holders.

Reality:

https://www.bloomberg.com/news/artic...f-tax-overhaul

Wal-Mart Stores Inc. is boosting its starting hourly wage to $11 and delivering bonuses to employees, capitalizing on the U.S. tax overhaul to stay competitive in a tightening labor market.

“Tax reform gives us the opportunity to be more competitive globally and to accelerate plans for the U.S.,” Chief Executive Officer Doug McMillon said in the statement.

Wal-Mart’s decision makes it the latest corporate titan to plow expected tax savings into employee payouts. Boeing Co., AT&T Inc. and Wells Fargo & Co. have all made similar announcements in recent weeks. Wal-Mart said it’s “early in the process of assessing potential additional investments” it could make.

Bonuses Drop, Signaling Tax-Cut Payouts Were a One-Time Windfall
Private-sector companies’ spending on bonuses fell 24% in first quarter from a year earlier

https://www.wsj.com/articles/faded-e...ed-11560871497

Not surprisingly, Whell is once again proven to be a complete fool. Small wonder the idiot is afraid to show his ignorant face around here anymore; virtually everything he believes is always proven to be completely wrong.

[Chicks]

Why CEOs are saying they need to be more socially minded now

For decades, the driving goal for corporate America has been maximizing stockholders' profits. So what made nearly 200 of the country's most prominent companies issue a joint statement this week, representing a major philosophical shift? John Yang talks to Steven Pearlstein of The Washington Post and author of "Can American Capitalism Survive?"

https://www.pbs.org/video/why-ceos-a...ow-1566339501/

Excellent interview. Corporations can't lie about their ruthlessness anymore, thanks to social media.

[Chicks]

Democrats Vs. Republicans: Who Is Better For The Stock Market?

https://www.forbes.com/sites/peterla.../#746e13d6239d

Looking at the table below of total returns for the S&P 500 during presidencies since 1929, it is clear that U.S. stock returns have been much better when a Democrat was the president

Just the facts, Whell.

[Chicks]

A vote for a Democrat is a vote for the bull market, according to this chart
‘When the Dems are in office it’s a good time to go all in on stocks’

https://www.marketwatch.com/story/a-...art-2019-10-31

No doubt, billionaire Wall Street types are fretting the potential of a “democratic so************************t” taking the White House in 2020. But should they be?

FT Alphaville isn’t so “sure these masters of the universe have got this one right” and created this chart to illustrate that “Democrat presidents have far superior market returns to Republic presidents”:

[Chicks]

Barack Obama @BarackObama

Eleven years ago today, near the bottom of the worst recession in generations, I signed the Recovery Act, paving the way for more than a decade of economic growth and the longest streak of job creation in American history.

7:46 AM · Feb 17, 2020·Twitter for iPhone

[Chicks]

... naturally, the biggest beneficiary of Obama’s signature bill couldn’t stand the fact that he is benefiting, greatly, calling it a con job. Everyone here except the incredibly ignorant Whell and Dondilion know exactly who the con man is.

https://www.newsweek.com/trump-obama...n-jobs-1487730

[Dondilion]

When Trump was a presidential candidate he correctly noted that the US economy was a huge bubble: ever-growing deficits, massive debts in many sectors. Additionally, he noted the manipulation of economic metrics, for example those relating to unemployment.

When Trump became president, he quickly claimed the same bogus economic numbers and increased the bubble with tax giveaways and massive spendings (especially military).

The anti Trumpers were hoping for an economic debacle before the election. One of them openly called for recession.

So why has the economy not collapsed, despite Trump's economic negatives?
The people benefiting from Trump's giveaways and continued printing of fiat are people who are close to and early in the system.
The bulk of Trump's handout has not reached the man on the street to cause inflation; it has been invested in the stock market, luxury goods and stuffed abroad.
Moreover both Obama's and Trump's bubbles have been facilitated by US Goodwill, buttressed by Nixon's deal with the Saudis making the US dollar the reserve currency of the world; US big influence in the most important monetary institutions - world bank, IMf, SWIFT.
So the world still buys US debt, despite US poor economic markings.

Essentially, it is Trump's economy. He has it for 3 plus years. If it had imploded?

[Oerets]

Life is always good on a credit card, especially if you never plan on paying the bill.

Leaving it for another generation or two to worry about!