Trump Keeps Winning

[Raev]

China's economy is in tatters:

China's stock market is crashing. It has lost $2 trillion in value already this year. China, which overtook Japan as the second largest stock market in the world only a few years ago, has now officially fallen behind Japan. The losses show no signs of abating.

Meanwhile, back home, China is on pace for a record year in corporate-bond defaults. Chinese companies have reneged on about $2.5 billion of public bond payments so far this year. As the economy downshifts and the threat of US tariffs hangs over everything, Chinese companies increasingly simply cannot pay their debt. "Corporate profits have worsened this year and are unlikely to improve against the backdrop of an economic slowdown," said Li Shi, general manager of the rating and bond-research department at China Chengxin International Credit Rating Company.

Meanwhile a spokesman for the Chinese Supreme People's Court is warning of an impending flood of Chinse bankruptcies and telling the Chinese judiciary to prepare in advance. "It's hard to predict how this trade war will develop and to what extent," the spokesman said. "But one thing is sure: if the US imposes tariffs on Chinese imports following an order of US$60 billion, US$200 billion, or even US$500 billion, many Chinese companies will go bankrupt."

In retrospect none of this should come as a surprise. The result of this confrontation was preordained. The United States is far and away the world's largest market for consumer goods. China, which lives or dies based on exports cannot lose access to the American market and even begin to replace those sales elsewhere.

Unsurprisingly, unemployment in the US is falling. Remember Obama talking about how those jobs aren't coming back? Turns out it was pretty easy for a President who actually puts America first.

[ScaringChildren]

Originally Posted by Raev [You must be logged in to view images. Log in or Register.]

Unsurprisingly, unemployment in the US is falling. Remember Obama talking about how those jobs aren't coming back? Turns out it was pretty easy for a President who actually puts America first.

Obama recently tried taking credit for it too lol

[Ahldagor]

China's been going down for few years and neither president can take credit for because it's mainly due to their reputation on manufacturing and loans in Africa.

[Lune]

Originally Posted by Raev [You must be logged in to view images. Log in or Register.]

Remember Obama talking about how those jobs aren't coming back? Turns out it was pretty easy for a President who actually puts America first.

Turns out it was pretty easy for a President who actually puts America in debt*

"Hey I know guys let's demolish revenue and then do absolutely nothing to curb spending!!!!! lolololol MAGA"

Republicans are borrowing against your childrens' future for a fleeting bump in economic activity. Just look at what is happening to the deficit. Party of fiscal restraint, right? Him and his party are running the country like one of his failed businesses.

Also, what happens with massive tax cuts and deregulation following economic recovery? You pull the control rods out of the reactor and it gets real hot real fast.... and then it melts down. But by the time it melts down, Trump will be in his second term or a Dem will be in office to take the fall.

Originally Posted by Raev [You must be logged in to view images. Log in or Register.]

Unsurprisingly, unemployment in the US is falling. Remember Obama talking about how those jobs aren't coming back? Turns out it was pretty easy for a President who actually puts America first.

Unemployment is falling but wage growth remains tepid. Overwhelmingly, the creation of new jobs is in still minimum wage or near-minimum wage shit that nobody wants. Meanwhile, many can't afford healthcare, and those who can afford it deal with a system of insurance denial and systematic bureaucratic obstructionism (from private insurance companies) that make it a source of misery and the embarrassment of the civilized world. GOP's answer for this? Tax cuts for rich people.

[Raev]

Originally Posted by Lune [You must be logged in to view images. Log in or Register.]

Republicans are borrowing against your children's future

Making this a partisan issue is prima facie ridiculous when Obama added a cool $10 trillion to the national debt. The good news is that we are not borrowing against our children's future! As the world's reserve currency, US deficits don't matter because other nations need our debt as high quality collateral (see: Triffin's Paradox). With Trump in charge and the American economy booming this could go on for quite some time. Clinton and the globalists would have switched to the SDR. In any case, the US debt will never be repaid in real terms. It will be inflated away, and the losers will be the people holding treasuries, which will mostly be the boomers' pension funds.

Originally Posted by Lune

Also, what happens with massive tax cuts and deregulation following economic recovery? You pull the control rods out of the reactor and it gets real hot real fast.... and then it melts down.

This analogy fails miserably. Deregulation and tax cuts and free(er) markets aren't a temporary fix, it's the best way to organize an economy in the long run.

[Mead]

I bought a couple Gs of Alibaba today. If it dips even further I'll pick up a few more.

I will congratulate you on still being poor but well armed when this all ends.

[Lune]

Originally Posted by Raev [You must be logged in to view images. Log in or Register.]

Making this a partisan issue is prima facie ridiculous when Obama added a cool $10 trillion to the national debt. The good news is that we are not borrowing against our children's future! As the world's reserve currency, US deficits don't matter because other nations need our debt as high quality collateral (see: Triffin's Paradox). With Trump in charge and the American economy booming this could go on for quite some time. Clinton and the globalists would have switched to the SDR. In any case, the US debt will never be repaid in real terms. It will be inflated away, and the losers will be the people holding treasuries, which will mostly be the boomers' pension funds.

We can't just print money to pay off our debt without also destroying our own system, and our status as the reserve currency is as fragile as Europe deciding it wants to replace it with the Euro when it becomes fully evident the United States is a second-rate nation.

Further, our status as a reserve currency is dependent upon the world order built by globalists that exploits economic inter-connectedness for our own benefit. Your boy Trump's attempts to isolate the United States diplomatically and economically and institute neo-mercantilism are going to bring an end to that shit real quick. No point in using the dollar for cheap imports when it's all protected behind tariffs. Meanwhile, Europe and China continue to reap the benefits of free trade.

I know you know enough about economics to realize protectionism is horrible in the long run. It's a shame you're apparently too much of a Trump fanboy to admit he's wrong on this.

Originally Posted by Raev [You must be logged in to view images. Log in or Register.]

This analogy fails miserably. Deregulation and tax cuts and free(er) markets aren't a temporary fix, it's the best way to organize an economy in the long run.

They are the best way to promote economic growth in the long run, actually. It's an important distinction. Unchecked growth is for bacteria, not people. Do you know what else deregulation and regressive tax do? They further concentrate wealth in the hands of our country's owners. In terms of the economic wellbeing, social mobility, and life satisfaction of your average American, an income bonanza for only the capitalist class is not a great outcome. It's only going to lead to more poverty, instability, and volatility. And continued worsening quality of life in what is already one of the worst developed countries to live in... largely because of our selfishness.

[Mead]

I will admit the trump supporters are better trolls. Their ability to get libs worked up is uncanny.

[Wonkie]

what the hell is this website raev? is this a joke?

[Mead]

Originally Posted by Wonkie [You must be logged in to view images. Log in or Register.]

what the hell is this website raev? is this a joke?

I didn't even click until this response. Got good laugh. Thanks