It just keeps gettingb worse

[morewater]

I used to hang out with some of those guys I mentioned, I think they're just happy that there will be someone in the White House that has spoken up on their behalf.
Some of them even understand the challenges ahead. I think the future looks better now.
I still think an economic correction is needed though.

.

One's coming. The Donald is going to be President during the largest recession since 2008.

 

[sissy]

I wonder how many countries have the wrong perception of the United States .They think the president has this magic red button on his desk and I wonder what they think the Pentagon is for .

 

[MitchM]

One's coming. The Donald is going to be President during the largest recession since 2008.

Yes, that small matter of a 14 trillion dollar debt didn't disappear with the election.

.

 

[morewater]

Bah, its a paltry $14 Trillion. Bring on increased spending and tax cuts.

 

[Meyer Jordan]

Bah, its a paltry $14 Trillion. Bring on increased spending and tax cuts.

It is coming. There is a $11.5 trillion increased debt built in to Mr Trumps proposed federal budget.
http://crfb.org/papers/promises-and...016-election?gclid=CKz2nNiY_M0CFQ-raQodca0JTQ

 

[MitchM]

If Mr. Trump's additional debt actually finds it's way into the hands of consumers, I think it will be better for the economy in the long run.
Most of the QE program did not make it's way into the general economy. The result of QE only contributed to various bank's record profits and increased share buybacks by public companies.

 

[Meyer Jordan]

If Mr. Trump's additional debt actually finds it's way into the hands of consumers, I think it will be better for the economy in the long run.
Most of the QE program did not make it's way into the general economy. The result of QE only contributed to various bank's record profits and increased share buybacks by public companies.

Not likely to happen as the bulk of this additional debt is caused by tax cuts for the upper class as noted in the linked report.

 

[MitchM]

I'm thinking of the coming tax cuts and relaxing of regulations for businesses who will in turn expand business activities which would include hiring more employees.
However, we're reaching the extent of my knowledge of the American tax system, so I will soon be entering the area of pure speculation on my part....
I am now more hopeful for the future of the USA, at any rate.

.

 

[Meyer Jordan]

I am now more hopeful for the future of the USA, at any rate.

I am not.

 

[MitchM]

ok

 

[Meyer Jordan]

My reason for this belief is that his budget is just more 'trickle-down' economics that really didn't work before and won't work now.
Anyone should know that if something is to be structurally sound, the foundation must be solid. What has happened in the U.S. is that the lower income class has grown and eroded the middle class to the point where the middle class is disappearing. This must be given more of a priority than 'lip-service'. Reducing the taxes on the wealthy does not accomplish this.

 

[MitchM]

My reason for this belief is that his budget is just more 'trickle-down' economics that really didn't work before and won't work now.
Anyone should know that if something is to be structurally sound, the foundation must be solid. What has happened in the U.S. is that the lower income class has grown and eroded the middle class to the point where the middle class is disappearing. This must be given more of a priority than 'lip-service'. Reducing the taxes on the wealthy does not accomplish this.

What policies would you prefer to see instead?

.

 

[Meyer Jordan]

What policies would you prefer to see instead?

.

Anything that would strengthen the economic health of the middle class. A strong middle class, such as was found in the 1950's and 60's. is what made this country the global force that it became. Not being an economist I would not venture employing any one mode of action. Perhaps if replication of the conditions which created this strong working class were re-created a solution might be in sight. The National debt also remained relatively stable during that time also.

 

[MitchM]

I agree, more money needs to make it to the middle class.
What comes to mind are the phrases - "Made in Taiwan", "Made in China", "Made in India", and "Made in Mexico"

Human nature dictates that we want to have a higher standard of living than we presently have. In order to achieve that, we are attracted to paying less for what we perceive gives us a higher standard of living; ie paying lower prices for a similar product.
What our western culture did was to move our manufacturing jobs to areas with much lower standard of pay, fewer human rights and lower environmental standards.

That action took previous manufacturing jobs away from the US and we basically employed other countries to make the same products we were previously making ourselves, which left our employees with no jobs.

.

 

[Meyer Jordan]

we are attracted to paying less for what we perceive gives us a higher standard of living; ie paying lower prices for a similar product.

In increasing numbers that "attraction" has transformed into necessity as the consumer class (middle class) buying power has decreased. People are forced to shop at Walmart and Ebay. Many of those that at one time 'looked down' on Walmart shoppers have now become those that they ridiculed.

There is that group that believes that increasing the Minimum wage will solve the problem. This is also a fallacy. As labor costs rise so do product resale prices (inflation) so increased purchasing power is only realized for a short period of time, if at all. Speaking personally, since my very first full time job I have seen my actual purchasing power steadily decline over the years even while income increased.

I am now a Walmart shopper.