permafrost Loc: Minnesota

Tons of jobs, stock market out of its mind making money, wages up near 2%, how could I have any issue with the currect economy..

Well it all feels wrong.. nothing changed in my neck of the woods.. Same as we were in 2010.. why do I lay awake and worry about my grand kids and others making a living?

Looking for workers, need people. trained people.. money invested in updating many of the small business which make up the arrowhead of Minnesota..

Iron mining back to booming. but much opposition to nearly approved copper/nickel mining done by foreign companies..

so lets ask some experts, who have studied this boring stuff for a life time..

John Brazier is one of those who find economics so interesting he makes a living teaching it..

part of an article by him which he did not link, so all I have is the part I post..

>>>>>

I’m just going to focus on one area: the economy. Remember, despite Republican defiance and int***sigence, Obama hauled the US economy out of a massive recession and did it more quickly than any other country in the world (even though one might question some of his actions).

Trump, in the space of around 6 months - because he knows nothing about economics - has done the following:

Given a huge tax break to the wealthy and the corporations. This is meant to revitalize the economy. Unfortunately, the corporates don’t use it for investment but for share buy-backs, which artificially raises their stock value and thus raises the execs’ bonuses. The wealthy simply invest in the stock market, which further artificially raises the whole stock market value. The small amount that does make it to real business investment will actually do little because (a) the USA is near full employment: you can’t find people to fill the jobs, which causes wage inflation - the economy is overheating, and (b) we’re late in the business cycle: a slowdown is coming.
With the tax break, he has also declared a trade war with the whole of the world. These together significantly limits the government’s income, leading to more borrowing. In addition, Trump now has to borrow more so that he can subsidize soya farmers (for example) to keep them on-side during the war. The trade war will also directly hit US businesses, reducing their sales and profits, so slowing the economy down.
Trump is trying to stop the Fed from raising interest rates - which they must to (a) contain inflation, and (b) have enough ammunition in the interest rate to cut rates when the coming global recession will hit (and it is coming).
All these things are unfunded. The tax bill alone will increase the national debt by 1 to 2 trillion in the next few years; it is impossible to predict the borrowings needed for the trade war.
So Trump has created a huge bubble, riding on a perfect storm of unneeded stimulus, whilst simultaneously doing everything he can to shut down income flows - to both business and the government. And he’s trying to undermine the one institution that has the responsibility for trying to navigate the mess.

The result will be, come the next recession, an enormous crash which has the potential to make 2008 look like the warm-up act. For some time afterwards the economy will be a basket case and, which is unusual, one single culprit can and will be pointed out: Trump (with backup from the Republican party, who have appeared to have gone insane and abandoned everything they stood for, especially fiscal probity). He will go down in history as a terrible warning as to how the USA can screw up big-time if it really puts its mind to it.

So watch for the next few years: it could happen tomorrow, it could be years away. But it’s coming.

Just a final little stat to underline the great Trump competence. Remember his great stump promise about saving the coal miners? Well, the coal industry is cutting capacity and closing mines faster now than when Trump came into office: precisely as predicted by those who remain sane. Trump is now trying to stop it by Exec Order: sadly, economics will win.

Liberty Tree

No matter what he does you will always find some way to criticize Tump. If he gave you a goose that laid solid gold eggs you would complain that the goose was the wrong color.

Seth

Ah, yes, economists.

The problem with economists, in all too many cases, is that they allow their personal politics to bias their -- what, "economizing?"

Look at NYT's Paul Krugman, for example. Every time he does a column about the economic policies of a Republican, you'd swear there was spittle flying across the keyboard there is so much undisguised fanatical hatred, and he never fails to forecast doom and gloom, yet the policies he condemns ALWAYS turn out to benefit the American people.

It figures that a l*****t who apparently can't do his own research and think for himself, which would seem to be the case with most people on the port side of the aisle these days, would grab some krank's personal opinion cloaked in the "credentials" of his academic pursuits and brandish it as though he were imparting great t***hs to the world.

Ad they say in southeastern Madagascar, "What a bunch of B.S.!"

Noraa Loc: Kansas

Couldn't have said it better! Welcome to OPP!

permafrost Loc: Minnesota

trump is his own walking talking billboard of criticism.. He shows the knowledge of a locker room attendant..

While l**ts the tax payer each weekend you hale him as some thing special.

The only thing in the world the orange specter knows is how to fill his own pockets at the expense of others.

it is our money and the future of our children and beyond that he is flushing away to fill the pockets of the rich.. and himself..

permafrost Loc: Minnesota

paul Krugman.. heard of him, never watched.. what policies of trump did him he condemn and then they turned out to benefit the American people...???

i can not think of anything the orange guy muttered that would fill that idea..

Noraa Loc: Kansas

Gee, I wonder why? Maybe because the media h**e him and jump at any chance to slam him or his family no matter what they do. He gets no credit for the good he does only skepticism and and vitriol.

Noraa Loc: Kansas

I forgot all the leaks. If Hillary had been watched and reported on with the hatred that has been shown President Trump she would be in prison now.

permafrost Loc: Minnesota

You bunch of silly wishers... to be tossed in prison, at up to this date.. an American must be guilty of a crime..

You and the people you admire most spent 20 plus years investigation and trying to pin anything on lady Hillary..

could not find a thing.. she must be pure and the driven snow. innocent as a lamb..

Or the republicans are the dumbest group on the planet..

Of course you 20 years of lies did pay off you kept her out of the white house..

Instead of Lady Hillary we have the most ridiculed and useless leader on the entire planet..

archie bunker Loc: Texas

Republicans aren't dumb. They're complicit in everything that's happened. That's why they're so scared of Trump.
And why do you keep posting the gross picture of bovine tuberculosis ribs?

permafrost Loc: Minnesota

I did not think any was going to ask.. let alone that someone would know what it was.. figures it would be you... good one..

actually it is a deer carcass but yes indeed is tuberculosis..

Now I will not have to post the ugly thing again..

archie bunker Loc: Texas

I even knew it was from a deer, Permi. I've seen the warnings about what to look for since this has become an issue. I may be dumb, but I'm not stupid!

permafrost Loc: Minnesota

LOL,,, dumb/stupid you sure as heck are not..

i think part of the reason for my posting it was that some years ago it was all over the deer herd in the county where I had some land. it got to the point that no limit on deer, number or sex and extra hunting season
also with no limit in September.

We had to bring in the deer and they were checked on site.. the number of deer found to be diseased became zero and the DNA returned to normal seasons..

the decease was traced to a shipment of cattle from the Calgary Canada area. A single farmer brought it in but he was ruled not culpable..

vernon

Yea we need to go back to part time wages. WE also need to go back to no raises for years and no company benefits for part time. As far as business slowing down maybe or maybe not.The author is banking on the cycle coming soon that's possible. But rest assured we will have recessions and the dreaded depressions as long as we have freedom.
When government takes over the economy we have stagnation and poverty.
As far as 08 that was a 6 month recession that the obamas turned into 8 yrs and if hillery were elected we would be in a depression that would make the last depression look
like mild recession.

Sicilianthing

>>>>

yes, the Economy is seriously fragmenting as the days and weeks pass.

Something is seriously wrong.