Legaltitan Posted October 11, 2018 Report Share Posted October 11, 2018 With the latest Wall Street bloodbath, the DOW, Russell and other various indexes are up somewhere around 1-2% since just before the tax cuts went into effect. So very little gains in 9 1/2 months, despite a tax bill that exploded the deficit and pumped a ton of money into the economy. What was that about 401(k)'s again? OILERMAN, pamo9, and Justafan 3 Link to post Share on other sites More sharing options...
Downtown Posted October 11, 2018 Report Share Posted October 11, 2018 50 minutes ago, Legaltitan said: With the latest Wall Street bloodbath, the DOW, Russell and other various indexes are up somewhere around 1-2% since just before the tax cuts went into effect. So very little gains in 9 1/2 months, despite a tax bill that exploded the deficit and pumped a ton of money into the economy. What was that about 401(k)'s again? The pump and dump has already happened and the Average American investor is the loser. Massive redistribution of wealth the top. Sadly, It’s about to get worse. If Trump even toys with the idea of defaulting on the debt to China after this tariff Back and forth fails, the pump and dump will be complete. All T-Bonds and not just China’s holdings will drop, causing the dollar to drop drastically and allowing anyone with foreign holdings to swoop in and rake it up. In other words, Trump and Oligarchs have already fucked over America for wholly unimpressive short term gains. I just wish the Trump/Republican tribe were smart enough to see that they’re about to be royally fucked. Or maybe they don’t have anything invested in the market and it doesn’t matter to them? Link to post Share on other sites More sharing options...
Legaltitan Posted October 11, 2018 Author Report Share Posted October 11, 2018 3 minutes ago, Downtown said: If Trump even toys with the idea of defaulting on the debt to China after this tariff Back and forth fails, the pump and dump will be complete. This is the first I've heard of this even being a remote possibility. Who thinks this may happen? Link to post Share on other sites More sharing options...
LongTimeFan Posted October 11, 2018 Report Share Posted October 11, 2018 How many times did Obama raise the interest rates? Link to post Share on other sites More sharing options...
Downtown Posted October 11, 2018 Report Share Posted October 11, 2018 7 minutes ago, Legaltitan said: This is the first I've heard of this even being a remote possibility. Who thinks this may happen? Michael Lewis and several other financial authors. Link to post Share on other sites More sharing options...
Downtown Posted October 11, 2018 Report Share Posted October 11, 2018 @Legaltitan if you can find it, listen to Michael Lewis’ guest appearance on “Fresh Air” last week. They press him for his ‘scariest financial prediction’ and he talks about it while also painting it as a long shot. But if you go back to Trump’s 2016 campaign speeches, he scarily brings this up as an option with the rationalization that he’s “the king of debt.” Link to post Share on other sites More sharing options...
LongTimeFan Posted October 11, 2018 Report Share Posted October 11, 2018 1 hour ago, Rolltide said: A president cannot raise interest rates. How many times did the feds under Obama raise the interest rates? Link to post Share on other sites More sharing options...
OILERMAN Posted October 11, 2018 Report Share Posted October 11, 2018 This is actually something that could get Trump to lose support and get impeached by establishment Republicans. Remember his financial advisor resigned because of the tariffs. Trump is a total economic retard and knows nothing about the markets. If he starts screwing things up, assuming they would even let him, he'd be done. thor, 'Nator, and LongTimeFan 1 2 Link to post Share on other sites More sharing options...
9 Nines Posted October 11, 2018 Report Share Posted October 11, 2018 Right now the White House is saying it is a market correction, which is true. If it keeps going down, I imagine the White House will blame democrats - say it is because of high chance of democrats taking the House. OILERMAN, thor, and Justafan 2 1 Link to post Share on other sites More sharing options...
Starkiller Posted October 11, 2018 Report Share Posted October 11, 2018 1 hour ago, LongTimeFan said: How many times did the feds under Obama raise the interest rates? Twice (during his 2nd term as the economy improved) Link to post Share on other sites More sharing options...
LongTimeFan Posted October 12, 2018 Report Share Posted October 12, 2018 2 hours ago, Starkiller said: Twice (during his 2nd term as the economy improved) Once. http://theeconomiccollapseblog.com/archives/after-raising-rates-once-during-the-obama-years-the-fed-promises-constant-rate-hikes-during-the-trump-era Link to post Share on other sites More sharing options...
ctm Posted October 12, 2018 Report Share Posted October 12, 2018 Republicans gave away government revenue to the 1%, their donor class which exploded the deficit. Now interest rates are rising and the cost of servicing the increased debt is going to cost more. So its a double hit to the deficit. Where is Steve Mnuchin, Sec. of the treasury, and the other republican economists who all told us the tax cut would pay for itself with new revenue from economic growth? Top down economics doesn't work. But the republican sheep keep voting for it so they can put Kavanaugh on the court. Christian conservatives are bankrupting the country. thor, OILERMAN, and IsntLifeFunny 2 1 Link to post Share on other sites More sharing options...
Starkiller Posted October 12, 2018 Report Share Posted October 12, 2018 1 hour ago, LongTimeFan said: Once. http://theeconomiccollapseblog.com/archives/after-raising-rates-once-during-the-obama-years-the-fed-promises-constant-rate-hikes-during-the-trump-era I said twice because it was twice Link to post Share on other sites More sharing options...
LongTimeFan Posted October 12, 2018 Report Share Posted October 12, 2018 1 minute ago, Starkiller said: I said twice because it was twice Just because you say it doesn't make it true. Good talk Link to post Share on other sites More sharing options...
Starkiller Posted October 12, 2018 Report Share Posted October 12, 2018 Just now, LongTimeFan said: Just because you say it doesn't make it true. Good talk You are the guy who was dumb enough to make false claims based on an article written before the end of the Obama administration. And before the 2nd time the Fed increased the rate. PetroleroTitanico, and 'Nator 2 Link to post Share on other sites More sharing options...
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