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PostPosted: August 7 19, 3:47 pm 
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Has an anecdote about a townie he overheard.
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Freed Roger wrote:
Also Trump GOPs huuuge deficit in expanding economy makes any plans for actual socialistic[I say it in positive manner] style policies (Medicare for all, college ed/student debt) more difficult.

Socialism in the form of corporate welfare and the military industry has first dibs, isn't subject to the Same "how we going to pay for it" questions.

Starving the beast.



While that's certainly true and I think apart of the plan my solution is easy. Just cease the assets of the rich that we've been giving everything to. Then pay for medicare for all etc. America's not rich need to get much more aggressive towards the rich.


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PostPosted: August 7 19, 3:55 pm 
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IMADreamer wrote:
Freed Roger wrote:
Also Trump GOPs huuuge deficit in expanding economy makes any plans for actual socialistic[I say it in positive manner] style policies (Medicare for all, college ed/student debt) more difficult.

Socialism in the form of corporate welfare and the military industry has first dibs, isn't subject to the Same "how we going to pay for it" questions.

Starving the beast.



While that's certainly true and I think apart of the plan my solution is easy. Just cease the assets of the rich that we've been giving everything to. Then pay for medicare for all etc. America's not rich need to get much more aggressive towards the rich.

We had a form of this (an assessment on net worth but only when transferred by death or gift) and a remnant of it exists -estate and gift tax. Though 'merica bought into notion that it was taking away family farms. (Not true) and it has been scuttled over time. But with planning, it was largely avoided (limited partnership valuatuons) anyway.

But yeah, I think some form of annual net worth tax has been thrown out there - Elizabeth Warren I believe.


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PostPosted: August 7 19, 10:18 pm 
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Has an anecdote about a townie he overheard.
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Freed Roger wrote:
IMADreamer wrote:
Freed Roger wrote:
Also Trump GOPs huuuge deficit in expanding economy makes any plans for actual socialistic[I say it in positive manner] style policies (Medicare for all, college ed/student debt) more difficult.

Socialism in the form of corporate welfare and the military industry has first dibs, isn't subject to the Same "how we going to pay for it" questions.

Starving the beast.



While that's certainly true and I think apart of the plan my solution is easy. Just cease the assets of the rich that we've been giving everything to. Then pay for medicare for all etc. America's not rich need to get much more aggressive towards the rich.

We had a form of this (an assessment on net worth but only when transferred by death or gift) and a remnant of it exists -estate and gift tax. Though 'merica bought into notion that it was taking away family farms. (Not true) and it has been scuttled over time. But with planning, it was largely avoided (limited partnership valuatuons) anyway.

But yeah, I think some form of annual net worth tax has been thrown out there - Elizabeth Warren I believe.



I understand the worry about family farms and the "death tax" but the truth is anyone with half a brain will be incorporated and not have to worry about.


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PostPosted: August 14 19, 10:46 am 
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Another dow plunge today. 2.4% as I type. "after bond market flashes a recession warning". Hmmm I thought that happened a week ago, why reaction now?

Likely Will be way back up tomorrow. Who is winning, who is losing?

What will the Orangeantan do next with trade and tariffs. ? Some people know.


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PostPosted: August 14 19, 3:41 pm 
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Freed, you seem to be hinting at some speculation I ready elsewhere today... that Rump is having his kids short the market and then purposefully making it tank briefly to reap the benefits. It would be the biggest insider trading scam of all time. And I would betcha they're doing it.


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PostPosted: August 14 19, 10:55 pm 
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The 30-year Treasury yield is below 2% at the moment. This is historically low for the US, but for sake of reference Canada's 30-year yield is around 1.35% and Germany's 30-year yield is negative. As somebody who first became aware of this stuff in the early 1980s, when short-term rates were double digits, it's been fascinating watching the long, slow slide to zero.


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PostPosted: August 15 19, 7:16 am 
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...so I should start selling mattress, safes, and posrthole diggers (with complimentary coffee can)


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PostPosted: August 19 19, 2:41 pm 
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This article is from May but it's making the rounds again.


“THE WORLD IS MORE LEVERAGED THAN IT HAS EVER BEEN BEFORE”: BEWARE THE TIME BOMB IN THE TRUMP ECONOMY
Quote:
Ironically, the very actions that Trump has taken, and that he believes are responsible for supercharging the economy (which I must hasten to point out was already doing pretty well under Barack Obama), will come back to haunt him. There’s always a price to pay when capitalists are allowed to roam free without supervision. But the real problem for Trump will come from his Fed gambits. By keeping interest rates at artificially low levels for so long (it’s been nearly 11 years and counting), debt investors are on a worldwide hunt for higher yields—the so-called “yield-hunger games”—forcing them to overpay for bonds, loans, and other debt-like instruments, and to take higher and higher risk without getting properly compensated for them.

Quote:
One such symptom of the current situation, which arrived in my inbox the other day: an offer for a so-called “structured investment,” courtesy of the geniuses at JPMorgan Chase. What they have successfully served up to investors, hungry for yield, is a six-month note that promises to pay investors annualized interest of 16 percent under certain circumstances. Those certain circumstances depend almost entirely—believe it or not—on the performance of G.E.’s stock. As long as G.E.’s stock stays within a certain range each month for six months—basically not falling more than 30 percent from roughly where it has been—then JPMorgan Chase will pay investors at least 1.333 percent per month interest on their investment, or 8 percent for six months, or an annualized rate of 16 percent.

Quote:
It turns out that structured investments are big-ish business these days on Wall Street. The market is around $60 billion a year in the United States, and growing, according to statistics provided to me by SIMON—the Structured Investment Marketplace and Online Network—a company nurtured by Goldman Sachs, and recently spun out of Goldman as a stand-alone company with new, big-bank investors. SIMON is in business to provide increasing transparency and information around these kinds of products, which in turn should further “legitimize” them so that more can be sold. (The market for structured investments in Europe is closer to $180 billion, or three times larger; in Asia, it’s closer to $350 billion, according to SIMON.)

Quote:
But, of course, this is not remotely the message being conveyed by the tweeter in chief, or by Larry Kudlow, Trump’s national economic adviser. Trump is so unconcerned about the danger posed by years of artificially low interest rates that he’s taken to arguing that the Fed should actually lower short-term rates even more. “We have the potential to go…up like a rocket,” he tweeted on April 30, “if we did some lowering of rates, like one point, and some quantitative easing”—a reference to the Fed’s nine-year policy, abandoned in 2017, of keeping interest rates low. “Yes, we are doing very well at 3.2% GDP,” he continued, “but with our wonderfully low inflation, we could be setting major records &, at the same time, make our National Debt start to look small!”


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PostPosted: August 20 19, 12:50 pm 
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The 'bloodbath' in America's trucking industry has officially spilled over to the rest of the economy
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Truckers have for months been sounding the alarm about a "bloodbath" in their $800 billion industry.

This year alone, some 2,500 truck drivers have lost their jobs as trucking companies large and small declare bankruptcy. Major carriers like J.B. Hunt, Knight-Swift, and Schneider have been forced to cut their annual outlooks.

A slew of other indicators have underlined turmoil in trucking. Transport research groups reported that the volume of trucks purchased in July fell to its lowest level in nearly 10 years. Rates in the spot market tumbled by 37% this July from July 2018. And the Cass Freight Index says year-over-year trucking volumes have slipped for eight consecutive months.

Trucking is often looked at as a leading indicator of where the rest of the economy is headed. As 71% of America's freight is moved on trucks, companies foreseeing needing fewer trucks is typically an omen of an economic downturn: If manufacturers are producing less and people are buying less, there's less of a need to move goods.

"Because trucking participates in all phases of manufacturing, it increases as manufacturing starts to ramp up, giving it leading indication on economic growth," Steve Tam, the vice president of ACT Research, previously told Business Insider.


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PostPosted: August 20 19, 1:27 pm 
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You can just tell the economy is heading downhill (whatever that means, rich and certain industries will be fine) from way Trumpers are reacting - [expletive] about the Fed, and kicking around stimulus ideas and easing tariff battle all while trying to pretend everything is Great!. More stimulus is pretty damn amazing considering the massive peacetime, nee growth economy govt deficit spending that we have already.


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