Airforceone

Peter there not going to believe it. This trade is war is sinking the economy. Trump has no clue what he is doing. These right wing people have no idea a Trade war, (PRICES INCREASE) inflation rises. Wages are stagnant. People stop buying.
Trumps tax cuts deficit exploding, his massive $850 billion defence budget no way to pay for it other than deficit spending, Fed raises interest rates to pay off deficit but it’s not enough, home mortgage interest rates rise that creating more foreclosures these people cannot see it.

The first to react is the stock market crash of the last 10 days.

steve metter

Trump taking down fed and getting rid of petrodollar and your bantering about things you know little , China only 40% self sufficient, they need us to eat , fjrstvpresident not to sell us out

Lonewolf

My very first new truck in 1969 f150 $2,500 right off the show room !

steve metter

Air farce , still thought you were having trouble getting off the ground , try air viagra

jack sequim wa Loc: Blanchard, Idaho

Do you really believe Europeans have a better quality of life than Americans?
China is third world wages, under regulated which is why? China wants world manufacturing domination, china's fastest growing economy in the world has been retracting the last several years with major economic woes far greater than many troubled European countries and doing there measures of QE which is failing the same as every other country has.
Have you asked the question, if the Europeans are doing so wonderful, why move manufacturers to China?
If America is so bad, why are manufacturers moving back? Could poor previous political policies and now changed policies have something to do with it?
Capitalism has and is the best in the world's history, flawed but still the best. Our poor have a better quality of life with more opportunities to not be poor than any country.
The greatest problem with those against capitalism is ignorance and poor facts being pushed by socialist. Ignorance to the difference in crony capitalism and capitalism.

jack sequim wa Loc: Blanchard, Idaho

There is a very narrow lens that the media is deceptively selling in an anti (anything) Trump.

So what isn't the media saying?
. There are several benefits that far outweighs negatives a million to one, but talking about these things would put a shinning light on a Trump negotiation that would move GDP upwards in the 7-8 over decades.
http://www.cnbc.com/2018/07/06/a-major-factor-behind-the-us-china-trade-war-is-winning-in-a-crucial-t.html

This is one benefit that is a wait and see, but for sure we will know soon.

truthiness

...
What effect is crony capitalism having?

PeterS

So is the proposal to scrap gas and environmental regulations just to knock a few bucks off of the price of cars? When looking at the graph of total auto sales vs historical it doesn't look like sales are suffering enough to scrap the regulations conservatives don't like.

https://fred.stlouisfed.org/series/TOTALSA#0

Airforceone

China in certain ways yes I agree but they don’y Need us as much as we need them. Wake up China took over TPP and the US is out. TPP has grown from 11 countries now to 17. China now controls the entrance and exits to the Panama Canal. It not a case of selling out it’s a case of continuous negotiation on trade. Not just throw out tariffs and act like a big shot around the world.
Look at the stock market they are selling because of his tariffs. And creating a trade war. He got a big bump two weeks ago when he created the USMAC agreements until they read it. Found out it will not be voted on till sometime next year and it doesn’t Go into effect for 5 years if at all. He would have gotten a lot more if he signed onto TPP because Mexico and Canada did.
He’s making a fool of himself now Ford is shutting down some of there operations and moving out because of him just withdrawing from TPP. He never negotiated all he did was withdraw and when he did China jumped into TPP now they control the trade in the Trans Pacific. We need to get control of Trump he’s making this country look foolish.

truthiness

...
Jack,
I can understand much of what you are saying, but what you and other current optimists never quite seem to get around to answer is the disparity between the haves and have nots--the soaring of wealth into upper echelons, the increase in the lower, and the incredible shrinking in the middle going mostly to the lower status--a chronic, not acute situation. Always the blame goes to the socialists, but they have gained little economic status during the last 30 years because of the existence of a socialist economy. Republicans as well as democrats have added to the deficit. How does the Trump economic theory alleviate the disparity?
http://fortune.com/2015/09/30/america-wealth-inequality/ agrees that we are the wealthiest, but it also says we are the most unequal.

This report of the St Louis Fed, https://www.stlouisfed.org/on-the-economy/2017/october/how-us-income-inequality-compare-worldwide ,
says "High income inequality has negative consequences for the political stability of a country and economic growth in the long run."

Looks to me like the problem is not just wealth but rather wealth distribution, which does not seem to be improving under current theory and practice, in fact, just the opposite.

Airforceone

85% of the wealth in this country belongs to the upper 20% of our population. The upper 1% has 38% of all wealth in this country.

Now Trumps tax cuts which added $2.2 trillion to the deficit take that $2.2 trillion invest in our infrastructure and the economy goes crazy and that $2.2 would not be a deficit. But take 80% of his tax cuts and he gave it to the upper 3% of wage earners. And we need infrastructure money.

buffalo Loc: Texas

The US is no longer a capitalist society. What we have is "crony" capitalism accelerated during the reagan-clinton era. The "great recession" was a direct result of Reagan and clinton economics. The only reason clinton got away with the things he did was because he was a democrat. Both bushie and obammy never strayed from the economic policy of crony capitalism. And like clinton, obammy got away with it because he was a demcrat.

This crony capitalism and its effects is what is now causing this backlash against capitalism itself. For the poor and middle class it is a feeling that the system is rigged and they are right. Because it is!

Reagan completed the transition to crony capitalism with his bullshit "trickle down" economics and every other President has employed in some fashion this myth of "trickle down" economics. Similar to communism it works in theory but not in reality. The reason why communism and "trickle down" doesn't work is because the both ignore human greed and sloth. The 2 catalysts driving the switch to crony capitalism is so-called cold war and steered by the military industrial corporations that Eisenhower warn about.

Examples of crony capitalism are Reagans deregulation, Clinton repeal of Glass-Steagall and his Telecommunications Act of 1996. You see, a true capitalistic economic system requires certain regulations. Regulations that do not stifle growth or too little regulation like that which created the great recession. What we have seen is regulation that created crony capitalism and the resulting massive corruption of the system.

When Clinton erased the line separating , banking, investment and INSURANCE greed took over. The housing bubble resulted from the greed of lenders, builders, and buyers aided by a government emboldened by the fact that so many people are realizing the American dream of home ownership and anxious to take credit, encouraged the risky loans in a variety of ways. Here we get our “toxic assets/debt, housing stocks and bundled mortgages. But that’s not all, folks. The banks know that they have a lot of risky mortgages in their bundles. So they insure this risk with an insurance company. Enter the biggest of all, AIG. Then the bottom falls out!

Bearn Stearns fails and has to be bailed out by the government, fannie and freddie are nationalized, Lehman Brothers fails, just a AIG stumbles. In the end, more than $700 billion of taxpayer dollars are dished out free of condition. Free of condition, and why? Because, if there were restrictions on the bailout money, the fucking banks would not have taken it.

So they continued to pay out huge bonuses and salaries, they did not loan it out to Americans, as the government wanted.

That was a lot of fucking up, all made possible by Reagan's deregulation and clinton's repeal of Glass Steagall.

Who was adversely affected by the "great recession?" It damn sure wasn't the richest 1%! Those bastards profited from it. Who took the big hit? The middle class, of course. The middle class started and continues to vanish. Gone are the days of the good union jobs and single breadwinner homes.

Who would benefit the most from the undoing of the Reagan/clinton "trickle down" crony capitalism economics/ Obviously that would be the poor and what is left of the middle class.

First, we need to STOP giving so much of out tax dollars to the military industrial corporations to waste on $640 toilet seats in the Pentagon. http://www.thenation.com/article/only-the-pentagon-could-spend-640-on-a-toilet-seat/ http://www.washingtonpost.com/investigations/pentagon-buries-evidence-of-125-billion-in-bureaucratic-waste/2016/12/05/e0668c76-9af6-11e6-a0ed-ab0774c1eaa5_story.html?utm_term=.7e191fbb66fc

And this DoD Inspector General report they don't want you to see-- http://www.dodig.mil/pubs/report_summary.cfm?id=7034

There is enough tax money spent on so-called defense to guarantee every American citizen housing, food, water, good education through college, and healthcare. Never mind this is the humane thing to do; it’s also good policy that benefits all except the 1%. After guaranteeing these things, then we go full capitalism.

You want to create jobs? This is the way to do it. Make it so people don’t have to worry about spending money on the necessities. How many new businesses will sprout up? How many new artists will discover their talents? How many new people will be called to professions such as teaching, policing, fire-fighting, things we need but have a hard time attracting people to because the pay is so little? The benefits are boundless

And the best part is we do not need to take from anyone other than the military industrial corporations. There is more than enough tax money there.

True Capitalism properly regulated works for everybody, not just the well connected 1%. Crony capitalism sucks and its policies of the last 30 years need to be undone.

Lonewolf

But he's making putin happy with his purchase

Airforceone

Tell me where Clinton or Obama employed the agenda of trickle down economics or crony capitalism.

The only reason this country is running such a massive deficit is because of wars, (UNPAID FOR) and these massive tax cuts to the wealthy unpaid for, from Reagan’s, to Bush, to Bush.

Obama got tagged with crony capitalism because everything he tried to do was blocked by a Republican held congress.

Look at his comprehensive Tax reform bill, look at his American jobs Act, look at his comprehensive immigration bill, look at his Bring the jobs back to America, look at his bill for Medicare and Medicaid reform all blocked from an up or down vote by the Republican lead congress and tell me they add up to crony capitalism.

I really thought Obama had the right idea and if you bothered to read the actual bills proposed by Obama everything was incentive based. If our Capitilist re-Patriated the funds kept outside the country brought it back and invested in this country, opening manufacturing creating good pay jobs instead of a 34% Tax he would drop it to 3%, He proposed dropping the corporate tax not down to 24% but 15% and eliminate certain loopholes all rejected by the Republican lead congress.

I would hope you will take the time to read these bills not some article in a paper or some news pundit. Read legislation and get to understand who is doing what form your own opinion and not the oppinions of others.

Calling Clinton and Obama Crony capitilist is just not accurate

Louie27 Loc: Peoria, AZ

When I tried to find out about these bills I seem to have been directed in another direction. Please state the bill numbers and when they were introduced so I may se where you are coming from.