Trumpenomics
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@Doctor-Phibes said in Trumpenomics:
@LuFins-Dad said in Trumpenomics:
So here’s the question you have to ask. Is Bessent (a Yale grad that went on to run Soros’ London office and ultimately became a partner before starting his own highly successful firm focused on global trading and macroeconomics) an absolute idiot and lucked his way into the wealth and positions he was in? Or is there something more at play?
Well, if he disagrees with Trump he loses his job, so there's that.
The guy worth $500M is willing to risk losing all or most of that for the sake of a job that pays $250K per year? Is that seriously your argument?
@LuFins-Dad said in Trumpenomics:
@Doctor-Phibes said in Trumpenomics:
@LuFins-Dad said in Trumpenomics:
The guy worth $500M is willing to risk losing all or most of that for the sake of a job that pays $250K per year? Is that seriously your argument?
Well, another guy was willing to lose 100 Billion to work for free.
Though Musk seems to be firing people who might interfere with his James Bond villain plans for world and space domination. So there’s that…
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I wonder how folk here will cope with the forthcoming price increases, from coffee to pensions, with increasing unemployment and market uncertainty?
We're hardly wealthy baby boomers, owning for example two 10 year old cars; however we can absorb price inceases having annuities guaranteed for life, and full state pensions in a few years.
But what of our children who are relatively new to the job & housing markets, of our friends who are coming up to retirement, and people worldwide in places like Vietnam, Cambodia with manufactufing jobs etc.?
Promised US domestic manufacturing jobs will take years to create if they ever materialise. I reckon there must be significant buyer regret among Trump(CF) voters, who didn't realise the difference between his promises and reality.
What about the international rule of law built up after the chaos of WW2, now reduced to Might makes right.
America appears little better than Russia. Veto the UN, disregard ICC, threaten weaker countries. No consequences. Two totalitarian states facing off?@Jolly "I'm just sitting back, enjoying the show"
World ends Monday.
Women and children to suffer most.
I still like ol' Larry. And I still think you're an opportunistic pissant.The world is a far worse place because of Trump(CF), and yes, women and children will suffer more.
It's a shitshow, so just what the hell are you enjoying about it?
@AndyD said in Trumpenomics:
I wonder how folk here will cope with the forthcoming price increases, from coffee to pensions, with increasing unemployment and market uncertainty?
We're hardly wealthy baby boomers, owning for example two 10 year old cars; however we can absorb price inceases having annuities guaranteed for life, and full state pensions in a few years.
But what of our children who are relatively new to the job & housing markets, of our friends who are coming up to retirement, and people worldwide in places like Vietnam, Cambodia with manufactufing jobs etc.?
Promised US domestic manufacturing jobs will take years to create if they ever materialise. I reckon there must be significant buyer regret among Trump(CF) voters, who didn't realise the difference between his promises and reality.
What about the international rule of law built up after the chaos of WW2, now reduced to Might makes right.
America appears little better than Russia. Veto the UN, disregard ICC, threaten weaker countries. No consequences. Two totalitarian states facing off?@Jolly "I'm just sitting back, enjoying the show"
World ends Monday.
Women and children to suffer most.
I still like ol' Larry. And I still think you're an opportunistic pissant.The world is a far worse place because of Trump(CF), and yes, women and children will suffer more.
It's a shitshow, so just what the hell are you enjoying about it?
No, the world is not worse because of Trump. The women and children quote is from a NYT gag, but you're probably not smart enough to know that.
And you don't have to enjoy the show, you can lay back and think of England, if you wish.
I'll give you some advice... Put not your faith in princes or principalities. Owe no man money. Never put all your financial eggs in one basket. Live on 75% of your take-home income. Try to create more than one revenue stream. Learn poor boy skills...how to cut a 5/12 rafter, how to patch a roof, wire an electrical outlet, change a set of disc brakes, grow a vegetable garden, how to lay a floor (wood, tile or other) and how to cook well on a limited budget. Treat relationships as relationships, and business as business.
Know that God laughs at men's plans and your control over your life is illusion.
Cinch up, take a dally and enjoy Life's ride...
“Cry havoc and let slip the DOGE of war!”
Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton
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So here’s the question you have to ask. Is Bessent (a Yale grad that went on to run Soros’ London office and ultimately became a partner before starting his own highly successful firm focused on global trading and macroeconomics) an absolute idiot and lucked his way into the wealth and positions he was in? Or is there something more at play?
@LuFins-Dad said in Trumpenomics:
So here’s the question you have to ask. Is Bessent (a Yale grad that went on to run Soros’ London office and ultimately became a partner before starting his own highly successful firm focused on global trading and macroeconomics) an absolute idiot and lucked his way into the wealth and positions he was in? Or is there something more at play?
It’s quite possible that one can apply Larry’s statement “educated beyond his intelligence” to the man.
That, and Copperhead’s oft stated platitude, “money makes you stupid”.
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@Doctor-Phibes said in Trumpenomics:
@LuFins-Dad said in Trumpenomics:
So here’s the question you have to ask. Is Bessent (a Yale grad that went on to run Soros’ London office and ultimately became a partner before starting his own highly successful firm focused on global trading and macroeconomics) an absolute idiot and lucked his way into the wealth and positions he was in? Or is there something more at play?
Well, if he disagrees with Trump he loses his job, so there's that.
The guy worth $500M is willing to risk losing all or most of that for the sake of a job that pays $250K per year? Is that seriously your argument?
@LuFins-Dad said in Trumpenomics:
@Doctor-Phibes said in Trumpenomics:
@LuFins-Dad said in Trumpenomics:
So here’s the question you have to ask. Is Bessent (a Yale grad that went on to run Soros’ London office and ultimately became a partner before starting his own highly successful firm focused on global trading and macroeconomics) an absolute idiot and lucked his way into the wealth and positions he was in? Or is there something more at play?
Well, if he disagrees with Trump he loses his job, so there's that.
The guy worth $500M is willing to risk losing all or most of that for the sake of a job that pays $250K per year? Is that seriously your argument?
FFS, he's not doing the job for the money.
Do you honestly think all of Trump's cabinet agree with everything he's doing? If not, why aren't they speaking up? It's the job to agree with the boss.
You're essentially saying 'Yeah, this guy's really smart, so everything's OK, right?'
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And of course, this could work out OK. I can't really see how unless Trump changes course, but I'm sure as hell no expert.
The real point is that Trump has no freaking idea what's going to happen. Anybody who thinks the government is safely in control of things is delusional. I said the same about Brexit - I'd rather have the current less-than-ideal situation than something completely unpredictable.
And sure, Trump's a risk-taker. But he's taking huge risks with our life savings, so fuck no.
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Any story where permanent tariffs (until changed by a future administration) work out well, would be fanciful. But no such story is told. The best offerings are vague implications of Pleasantville, Middle America, with a beautiful new factory, and white picket fenced homes surrounding it, where the factory workers live with their 2.5 kids. But there's no serious story about how to get there. "Because tariffs" is not a serious story.
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Any story where permanent tariffs (until changed by a future administration) work out well, would be fanciful. But no such story is told. The best offerings are vague implications of Pleasantville, Middle America, with a beautiful new factory, and white picket fenced homes surrounding it, where the factory workers live with their 2.5 kids. But there's no serious story about how to get there. "Because tariffs" is not a serious story.
@Horace said in Trumpenomics:
Any story where permanent tariffs (until changed by a future administration) work out well, would be fanciful. But no such story is told. The best offerings are vague implications of Pleasantville, Middle America, with a beautiful new factory, and white picket fenced homes surrounding it, where the factory workers live with their 2.5 kids. But there's no serious story about how to get there. "Because tariffs" is not a serious story.
All you have to do is replace the word 'tariff' with the word 'tax', and suddenly the entire policy looks quite ugly and ridiculous.
And the idea that other countries shouldn't or won't reciprocate 'if they know what's good for them' is ridiculous. He might have got away with bullying and ripping off his suppliers when he was in charge of his own business, but it's clearly not going to work here.
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@AndyD said in Trumpenomics:
I wonder how folk here will cope with the forthcoming price increases, from coffee to pensions, with increasing unemployment and market uncertainty?
We're hardly wealthy baby boomers, owning for example two 10 year old cars; however we can absorb price inceases having annuities guaranteed for life, and full state pensions in a few years.
But what of our children who are relatively new to the job & housing markets, of our friends who are coming up to retirement, and people worldwide in places like Vietnam, Cambodia with manufactufing jobs etc.?
Promised US domestic manufacturing jobs will take years to create if they ever materialise. I reckon there must be significant buyer regret among Trump(CF) voters, who didn't realise the difference between his promises and reality.
What about the international rule of law built up after the chaos of WW2, now reduced to Might makes right.
America appears little better than Russia. Veto the UN, disregard ICC, threaten weaker countries. No consequences. Two totalitarian states facing off?@Jolly "I'm just sitting back, enjoying the show"
World ends Monday.
Women and children to suffer most.
I still like ol' Larry. And I still think you're an opportunistic pissant.The world is a far worse place because of Trump(CF), and yes, women and children will suffer more.
It's a shitshow, so just what the hell are you enjoying about it?
No, the world is not worse because of Trump. The women and children quote is from a NYT gag, but you're probably not smart enough to know that.
And you don't have to enjoy the show, you can lay back and think of England, if you wish.
I'll give you some advice... Put not your faith in princes or principalities. Owe no man money. Never put all your financial eggs in one basket. Live on 75% of your take-home income. Try to create more than one revenue stream. Learn poor boy skills...how to cut a 5/12 rafter, how to patch a roof, wire an electrical outlet, change a set of disc brakes, grow a vegetable garden, how to lay a floor (wood, tile or other) and how to cook well on a limited budget. Treat relationships as relationships, and business as business.
Know that God laughs at men's plans and your control over your life is illusion.
Cinch up, take a dally and enjoy Life's ride...
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So here’s the question you have to ask. Is Bessent (a Yale grad that went on to run Soros’ London office and ultimately became a partner before starting his own highly successful firm focused on global trading and macroeconomics) an absolute idiot and lucked his way into the wealth and positions he was in? Or is there something more at play?
@LuFins-Dad said in Trumpenomics:
So here’s the question you have to ask. Is Bessent (a Yale grad that went on to run Soros’ London office and ultimately became a partner before starting his own highly successful firm focused on global trading and macroeconomics) an absolute idiot and lucked his way into the wealth and positions he was in? Or is there something more at play?
I thought those guys were the guys we were specifically not listening to with this policy.
I don't know if Bessent is true believer, but you don't get a job in this admin without being a lickspittle. And there's a lot of spittle to lick here.
Conspicuously missing here is any leadership by the President, aside from a tweet or two.
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Nearly every hour I think of something where prices are going to increase – a lot – tulip bulbs, cut flowers, etc.
America doesn’t run a trade deficit because other countries “exploit us’, but because we exploit them, using the dollar as the world’s reserve currency. Corporate debt, oil transactions, and so much else is done in dollars for the most part. Countries have a strong incentive to keep the value of the dollar stable. Tariffs disrupt the incentives and create new ones. Without a coherent state led plan for industrialization and import substitution, the result of tariffs is a sharp rise in price, a fall in the buying power of American wages, the destabilization of the American economy and the dollar which will result in a recession as American assets and wages fall in real value. The wealthiest will have even more control of the economy than at present – ala Russia. -
Reading some stock forums over the weekend, a lot of people saying how they're moving their investments to cash. When someone does so in a 401k, they typically have to wait 30 days to move the money back into the market. I hope they don't get burned by this insanity. Even if the indices recover, people will lose money if they reacted disadvantageously to the panic. But it's difficult to call anybody stupid for reacting to this, and trying to keep their money safe. That's what Trump has wrought.
Education is extremely important.
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Reading some stock forums over the weekend, a lot of people saying how they're moving their investments to cash. When someone does so in a 401k, they typically have to wait 30 days to move the money back into the market. I hope they don't get burned by this insanity. Even if the indices recover, people will lose money if they reacted disadvantageously to the panic. But it's difficult to call anybody stupid for reacting to this, and trying to keep their money safe. That's what Trump has wrought.
