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Old 08-12-2018, 02:18 PM   #1
8pt-buck
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Trump at Work -- Americans are spending like crazy. Can the good times last?

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
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Old 08-12-2018, 02:19 PM   #2
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Originally Posted by 8pt-buck View Post
You are not allowed to post anything from CNN.
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Old 08-12-2018, 02:24 PM   #3
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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
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Old 08-12-2018, 03:44 PM   #4
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Originally Posted by Bladewire View Post
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.
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Old 08-12-2018, 03:53 PM   #5
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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.
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Old 08-12-2018, 03:54 PM   #6
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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.
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Old 08-12-2018, 05:07 PM   #7
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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.
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Old 08-12-2018, 05:28 PM   #8
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Originally Posted by Busty2 View Post
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 😭
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Old 08-12-2018, 06:25 PM   #9
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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!
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Old 08-12-2018, 06:46 PM   #10
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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
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Old 08-12-2018, 08:18 PM   #11
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Can the good times last?
As in the elite getting wealthier while the forgotten working man gets fucked!
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Old 08-12-2018, 08:51 PM   #12
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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
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Old 08-12-2018, 08:52 PM   #13
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Originally Posted by GAMEFINEST View Post
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.
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Old 08-12-2018, 10:34 PM   #14
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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.
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