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The New Coffee Room

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  3. Trumpenomics

Trumpenomics

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  • jon-nycJ Offline
    jon-nycJ Offline
    jon-nyc
    wrote last edited by
    #1005

    Barring some AI-based growth miracle I suppose the eventual outcome will be to heavily devalue the debt (and the dollar) by printing tons of money. Default by another name.

    They’ll end up, after a lot of drama, with the same formula they use every time they have a trifecta: take away health care and food assistance from low income families and use the money to fund tax cuts for their donors.

    1 Reply Last reply
    • AxtremusA Offline
      AxtremusA Offline
      Axtremus
      wrote last edited by
      #1006

      Currency devaluation/inflation … we print (a lot more) money to pay off the debt. May or may not lead to “Dollar security falters” and/or “worldwide economic depression.”

      Gotta compare with the alternatives. Cutting spending too much or increasing taxes too much may also lead to some versions and degrees of “Dollar security falters” and/or “worldwide economic depression.” There may be some versions of “printing money” that are less damaging than some versions of “cutting spending” or “increasing taxes.”

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      • 89th8 Offline
        89th8 Offline
        89th
        wrote last edited by
        #1007

        I have but a simple brain, but an alternative would be to pass a 20-year spending plan that decreases spending on non-essentials, increases taxes for all, with a clear goal of what the "finish line" looks like, and once reached, an immutable law that spending must not result in XYZ debt unless 2/3 of the house and senate approve a wartime approval or some shit like that. In other words, a painful get healthy plan with strict fiscal guardrails in place.

        1 Reply Last reply
        • jon-nycJ jon-nyc

          Kalshi, the betting market for which Don Jr is an ‘advisor’, is now predicting close to 50T of debt by the time Trump is finished.

          LuFins DadL Offline
          LuFins DadL Offline
          LuFins Dad
          wrote last edited by
          #1008

          @jon-nyc said in Trumpenomics:

          Kalshi, the betting market for which Don Jr is an ‘advisor’, is now predicting close to 50T of debt by the time Trump is finished.

          I mean, on its own, that looks pretty fucking horrible, but by itself it doesn’t tell anywhere near the whole story. What would the alternatives look like? What happens if they allowed the TCJA cuts to expire? What does it look like if we cut spending even a moderate amount? The debt service and the entitlement programs would still push us to that point anyway, whether it’s 1-2 years earlier or later.

          The Brad

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          • LuFins DadL Offline
            LuFins DadL Offline
            LuFins Dad
            wrote last edited by
            #1009

            So why aren’t we talking about the Jobs Report? https://thenationaldesk.com/news/americas-news-now/american-born-employment-reaches-record-high-as-foreign-born-jobs-continue-to-decline

            A record number of jobs for American born workers and a significant drop in foreign born jobs.

            Wages are up 3.7% over last year contrasted with 2.4% inflation, so that’s real wage growth.

            https://www.usinflationcalculator.com/inflation/current-inflation-rates/

            The Brad

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            • jon-nycJ Offline
              jon-nycJ Offline
              jon-nyc
              wrote last edited by jon-nyc
              #1010

              Real wages have been growing since 2022. Though they’re down in q1 from 4q2024.

              They’ll end up, after a lot of drama, with the same formula they use every time they have a trifecta: take away health care and food assistance from low income families and use the money to fund tax cuts for their donors.

              LuFins DadL 1 Reply Last reply
              • jon-nycJ jon-nyc

                Real wages have been growing since 2022. Though they’re down in q1 from 4q2024.

                LuFins DadL Offline
                LuFins DadL Offline
                LuFins Dad
                wrote last edited by
                #1011

                @jon-nyc said in Trumpenomics:

                Real wages have been growing since 2022. Though they’re down in q1 from 4q2024.

                And it was fantastic for the illegals…

                The Brad

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                • jon-nycJ Offline
                  jon-nycJ Offline
                  jon-nyc
                  wrote last edited by jon-nyc
                  #1012

                  Trump announced a 50% tariff on copper. I think we have maybe 5% of the world’s supply, Chile has like 30%.

                  Besides needlessly making construction and power generation more expensive, we’ve seen in the past when copper prices rise, so does crime as people steal/destroy things with high copper content to sell them.

                  Nice going, Trump.

                  They’ll end up, after a lot of drama, with the same formula they use every time they have a trifecta: take away health care and food assistance from low income families and use the money to fund tax cuts for their donors.

                  1 Reply Last reply
                  • jon-nycJ Offline
                    jon-nycJ Offline
                    jon-nyc
                    wrote last edited by
                    #1013

                    It seems so economically pointless it makes me wonder if this is a patronage play that belongs in the corruption thread.

                    They’ll end up, after a lot of drama, with the same formula they use every time they have a trifecta: take away health care and food assistance from low income families and use the money to fund tax cuts for their donors.

                    1 Reply Last reply
                    • X Offline
                      X Offline
                      xenon
                      wrote last edited by
                      #1014

                      Every business plan in corporate America this year just has a line item for "chaos monkey" right now. This is ridiculous.

                      1 Reply Last reply
                      • 89th8 Offline
                        89th8 Offline
                        89th
                        wrote last edited by
                        #1015

                        With all the taxes on lumber and copper... get ready for even higher new home build prices!

                        1 Reply Last reply
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