Trump at Work -- Americans are spending like crazy. Can the good times last? - GoFuckYourself.com

8pt-buck · 08-12-2018, 02:18 PM

Quote:

The economy is booming because unemployment is low and people are spending more of their paychecks at Walmart, Macy's, Home Depot and a bunch of other retailers that report earnings this week.

https://money.cnn.com/2018/08/12/inv...ail/index.html

astronaut x · 08-12-2018, 02:19 PM

Quote:

Originally Posted by 8pt-buck

https://money.cnn.com/2018/08/12/inv...ail/index.html

You are not allowed to post anything from CNN.

Bladewire · 08-12-2018, 02:24 PM

Umm this is inflation.

Imports from China = 25% tarriffs = price increases

Gas = 35% price increase

People aren't buying more, they're paying more for the same. Sad

TheSquealer · 08-12-2018, 03:44 PM

Quote:

Originally Posted by Bladewire

Umm this is inflation.

Imports from China = 25% tarriffs = price increases

Gas = 35% price increase

People aren't buying more, they're paying more for the same. Sad

So 1/2 the time you're arguing the booming economy is Obamas doing... the other 1/2 the time you're arguing that a booming economy is terrible for everyone.

stupid fucking nitwit.

kane · 08-12-2018, 03:53 PM

The good times will end. Recession is coming. It always does. The question is, how bad will it be? Personally, I think it may be pretty bad. Not as bad as the last one, but still bad. Sure, people are working, but wages have been flat since the 1980's so people don't have a whole lot more money so they don't have any savings so they will find themselves in trouble pretty quickly.

Busty2 · 08-12-2018, 03:54 PM

Higher inflation is beginning to eat into people's paychecks. Wage growth has remained tepid, yet gas prices are rising, and tariffs have boosted prices on everything from cars to soda.The housing market is dropping fast as people buy fewer new homes.

8pt-buck · 08-12-2018, 05:07 PM

I'll will agree with the price increase based on Trumps trade war with China.
We all knew it was coming one way or another. It was Trumps campaign promise.

The Gasoline market is not controlled by Trump. It's controlled by the global crude oil market. For decades around Memorial Day, prices hike do to more traveling in the summer.
Gasoline prices are still lower than where they were four years ago.

Bladewire · 08-12-2018, 05:28 PM

Quote:

Originally Posted by Busty2

Higher inflation is beginning to eat into people's paychecks. Wage growth has remained tepid, yet gas prices are rising, and tariffs have boosted prices on everything from cars to soda.The housing market is dropping fast as people buy fewer new homes.

Sad but true 😭

beerptrol · 08-12-2018, 06:25 PM

From the article

Higher inflation is beginning to eat into people's paychecks. Wage growth has remained tepid, yet gas prices are rising, and tariffs have boosted prices on everything from cars to soda.

So yes, people are spending more because they are paying more for items. They aren't spending more because they have extra cash to spend!

Don't let the facts get in the way of your proChump propaganda!

Bladewire · 08-12-2018, 06:46 PM

Quote:

Originally Posted by beerptrol

From the article

Higher inflation is beginning to eat into people's paychecks. Wage growth has remained tepid, yet gas prices are rising, and tariffs have boosted prices on everything from cars to soda.

He didn't realize the article was s trap for the alt-right to use as propoganda that backfires

beerptrol · 08-12-2018, 08:18 PM

Can the good times last?
As in the elite getting wealthier while the forgotten working man gets fucked!

GAMEFINEST · 08-12-2018, 08:51 PM

50% tp 60% of household don't have enough to save for a emergency.
Most households have average of 15k in debt.
Most live paycheck to paycheck

kane · 08-12-2018, 08:52 PM

Quote:

Originally Posted by GAMEFINEST

50% tp 60% of household don't have enough to save for a emergency.
Most households have average of 15k in debt.
Most live paycheck to paycheck

Just saw the other day that 57% of Americans have less than $1000 in their savings. If those people lose their jobs, they are fucked.

BaldBastard · 08-12-2018, 10:34 PM

So: GFC2 moves a step closer. The US thinks that insular foreign policy innoculates it, but the harsh reality is that in the modern era, all financial crises begin in Wall Street.

BTW with the amount Trump has borrowed this year + the billions of loot he allowed to come back + lowered taxes.. if your economy is not surging more than it has at anytime in the past, then there's serious issues.

The Trump tax cuts are fiscal stimulus, not offset by increased budget revenue or cuts in spending (in fact expenditures actually increase).
The US budget deficit will increase over the next few years from 3 per cent of GDP to more than 5 per cent. Of course this will stimulate short-term growth, but at the cost of mounting government debt and a need to wind back the deficit later.

This is a politically driven sugar-high for your economy that's likely to backfire dramatically and YOU the tax payer will pay the cost.. well into the future.

08-12-2018, 06:25 PM	#9
beerptrol Confirmed Asshole Industry Role: Join Date: Feb 2003 Location: Half way between sobriety and fubar. Posts: 12,722	From the article Higher inflation is beginning to eat into people's paychecks. Wage growth has remained tepid, yet gas prices are rising, and tariffs have boosted prices on everything from cars to soda. So yes, people are spending more because they are paying more for items. They aren't spending more because they have extra cash to spend! Don't let the facts get in the way of your proChump propaganda! __________________ “If we are to have another contest in the near future of our national existence, I predict that the dividing line will not be Mason and Dixon's but between patriotism and intelligence on the one side, and superstition, ambition and ignorance on the other.” -- Ulysses S. Grant

08-12-2018, 08:18 PM	#11
beerptrol Confirmed Asshole Industry Role: Join Date: Feb 2003 Location: Half way between sobriety and fubar. Posts: 12,722	Can the good times last? As in the elite getting wealthier while the forgotten working man gets fucked! __________________ “If we are to have another contest in the near future of our national existence, I predict that the dividing line will not be Mason and Dixon's but between patriotism and intelligence on the one side, and superstition, ambition and ignorance on the other.” -- Ulysses S. Grant

08-12-2018, 08:51 PM	#12
GAMEFINEST Make STACK$ Industry Role: Join Date: Nov 2006 Location: sexy time Posts: 14,352	50% tp 60% of household don't have enough to save for a emergency. Most households have average of 15k in debt. Most live paycheck to paycheck __________________ Compound interest.

08-12-2018, 02:24 PM	#3
Bladewire StraightBro Industry Role: Join Date: Aug 2003 Location: Monarch Beach, CA USA Posts: 56,232	Umm this is inflation. Imports from China = 25% tarriffs = price increases Gas = 35% price increase People aren't buying more, they're paying more for the same. Sad

08-12-2018, 03:53 PM	#5
kane Too lazy to set a custom title Join Date: Aug 2001 Location: portland, OR Posts: 20,684	The good times will end. Recession is coming. It always does. The question is, how bad will it be? Personally, I think it may be pretty bad. Not as bad as the last one, but still bad. Sure, people are working, but wages have been flat since the 1980's so people don't have a whole lot more money so they don't have any savings so they will find themselves in trouble pretty quickly.

08-12-2018, 03:54 PM	#6
Busty2 Member since 1999 Industry Role: Join Date: Dec 2007 Location: Off the Amalfi coast Posts: 7,202	Higher inflation is beginning to eat into people's paychecks. Wage growth has remained tepid, yet gas prices are rising, and tariffs have boosted prices on everything from cars to soda.The housing market is dropping fast as people buy fewer new homes.

08-12-2018, 05:07 PM	#7
8pt-buck So Fucking Banned Industry Role: Join Date: Aug 2013 Location: Princeton, New Jersey Posts: 4,011	I'll will agree with the price increase based on Trumps trade war with China. We all knew it was coming one way or another. It was Trumps campaign promise. The Gasoline market is not controlled by Trump. It's controlled by the global crude oil market. For decades around Memorial Day, prices hike do to more traveling in the summer. Gasoline prices are still lower than where they were four years ago.

08-12-2018, 10:34 PM	#14
BaldBastard Too lazy to set a custom title Industry Role: Join Date: Jan 2001 Location: Sydney Posts: 14,501	So: GFC2 moves a step closer. The US thinks that insular foreign policy innoculates it, but the harsh reality is that in the modern era, all financial crises begin in Wall Street. BTW with the amount Trump has borrowed this year + the billions of loot he allowed to come back + lowered taxes.. if your economy is not surging more than it has at anytime in the past, then there's serious issues. The Trump tax cuts are fiscal stimulus, not offset by increased budget revenue or cuts in spending (in fact expenditures actually increase). The US budget deficit will increase over the next few years from 3 per cent of GDP to more than 5 per cent. Of course this will stimulate short-term growth, but at the cost of mounting government debt and a need to wind back the deficit later. This is a politically driven sugar-high for your economy that's likely to backfire dramatically and YOU the tax payer will pay the cost.. well into the future.