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08-14-19 19:40 #599
Posts: 690"Koch Land"
Check out the new book, "Koch Land" by Christopher Leonard. Koch's are not fans of Fat Nixon, mostly on ideological grounds. Still, they are getting over 90% of their economic just desserts.
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08-14-19 18:38 #598
Posts: 5454Originally Posted by Franciscass [View Original Post]
Huh?
B-B-But if China is the one paying the tariff taxes instead of American consumers, wouldn't it be a wonderful Christmas gift FOR Americans to initiate those tariffs ASAP? Hey, I'd be happy with another $60 Billion added to America's coffers by China. Why not? Unless, oh no, it turns out that isn't how it would get there after all.
Either he hasn't got a clue what he is talking about or he is certain his supporters would never have a clue what he is talking about. Or both.
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08-14-19 15:39 #597
Posts: 1222My Two Cents
Over 15 trillion in negative yielding bonds, an inverted yield curve and record low thirty years. It has to signify something.
Even Trump is getting the wind up and backing down on the scale of tariffs on Chinese imports under the laughable guise of not wanting to be the grinch that spoiled Christmas.
What's all this got to with the price of a shag? Nothing I guess but who knows.
My gut tells me while those at the high end are still doing fine it's getting tougher for most girls to make a living.
A recent visit to Cowboy makes me feel business is way down.
As we know the normal supply and demand principle affecting price doesn't necessarily follow in Thailand's P4P.
Quite the opposite.
Fewer punters, no problem, increase margins by jacking up the prices.
Well maybe not going to work this time.
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08-09-19 23:22 #596
Posts: 5454Originally Posted by NattyBumpo [View Original Post]
Good lord. FDR was gifted by the 1932 electorate with a huge Dem Majority in the House and at one point as many as 75 actual Dems in the Senate out of a possible 96 Senate seats beginning in 1933. That was a total turnaround in Party control after 10 years of across the board Republican rule in the federal government bent on driving us into that colossal Depression.
And at that time they had been using the same "brilliant" Republican economic philosophy and agenda they applied in 1981-1982 and 2001-2008, requiring those historic Dem recoveries as well. Oh, and the same ones Trump and his fellow Republicans are applying to the economy right now, BTW.
Obama never had a single hour of a single day as president with 60 real Dems in the Senate, the minimum Senate votes required to produce a cloture vote to even put a proposal and bill on the table for consideration. That being the case and considering the Repubs had decided there was something "different" about this particular middle aged Christian male in the White House (gee, I wonder what that could have been?) that gave them licence with their base to block, thwart and slow-walk his and the Dems every effort to pull us out of it, Obama's recovery from that particular Great Repub Depression/Recession was more impressive than FDR's.
After all, in addition to his massive advantage in having that overwhelming Dem Majority Congress, especially in the Senate, FDR didn't come into office on day one to tackle and recover us from that Great Repub Depression while we were also waging 3 poorly managed quagmire wars in Afghanistan, Iraq and against something amorphous and potentially worldwide by the name of "terror".
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08-09-19 15:01 #595
Posts: 690Originally Posted by NattyBumpo [View Original Post]
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08-09-19 13:10 #594
Posts: 3040Nothing anecdotal here
As the attached chart clearly shows, Obama's economic recovery was the weakest in the last 75 years or longer. One of the things I really dislike about Obama is that by 2010 HE KNEW HIS ECONOMIC POLICIES WERE NOT WORKING ie the recovery was not as robust as it should have been/could have been and instead of listening to his honest critics that he should lighten up on his government economic restrictions (executive orders) and lower the cost of investment in the private sector, Obama doubled down on his neo Keynesian policies and he began to play the race card in order to stay in office. IMHO he is a very bad man although I admit that he is also a very shrewd master politician. The fanatical left wing group think insanity that we see among all the Democratic politicians running for President in America today owe a lot to President Obama's successful tactic of divide and conquer along racial & ethnic lines, although none of them measure up to his political abilities.
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08-09-19 10:07 #593
Posts: 5454Originally Posted by Syzygies [View Original Post]
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08-09-19 09:55 #592
Posts: 12856Originally Posted by EihTooms [View Original Post]
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08-09-19 05:26 #591
Posts: 1222Originally Posted by Smoothy [View Original Post]
The problem with the tax cut as has been explained ad nauseam was it had minimal effect on the majority of Americans as most of it was directed at corporations and the top 20% of taxpayers who were already doing just fine under loopholes such as the earned interest tax credit.
Supply side economics argues tax cuts more than pay for themselves. Lots of economists question this theory. It's complicated and depends on how the cuts are distributed but what is not in doubt is that the Trump cuts after a initial sugar high have done little for demand (other than Smoothy spending all of his 3 K) but has had a negative impact on Debt to GDP which is heading towards 110%.
I don't hate anybody but denigrating people as Trump haters as if this is somehow a mental abnormality always amuses me. Of course there are people who hate Trump and what he stands for. They value compassion, honesty, tolerance and inclusiveness. To be honest for me it's the Trump lovers who need to examine their values.
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08-09-19 04:32 #590
Posts: 1222Tm 30
For anybody interested, my experience Thursday last getting extension of temporary stay based on retirement at Chang Wattana.
Background. I have lived in the same apartment I purchased some 20 years back. For a period I wasn't here all year round and got by on extensions, visa runs and broker's services. When I hit 50 I got a retirement visa extending it yearly since.
For the first time ever today the TM 30 was required. Even as an owner it's required. Anticipating the possibility had all the docs with me, title and accompanying paperwork. Got the TM 30 but paid 800 baht fine because I hadn't filed it within 24 of moving in all those 20 years ago. I kid you not. Judging by the number of 800 bahts they were raking in its a huge huge earner.
My advice. Make sure you have a copy of notification of filing TM 30 from the owner if you are renting. If it's your pad and you haven't filed bring the docs and you can file on the spot. Counter G. Extremely busy. Bring a book or whatever gets you through boredom.
Speed of service, all told 6 hours including reentry permit. 10 30 to 4 30 with a lunch break from 12 to 1.
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08-08-19 09:25 #589
Posts: 5454Originally Posted by Dg8787 [View Original Post]
See how the incomes of farmers have been doing in the Trump economy. He's cutting them welfare checks to make up for their deep losses thanks to his trade war. The "cash gift" from that tax bill was so minor and went so unnoticed across the country, Trump in a panic suddenly announced a non-existent "Middle Class Tax Cut!" would be enacted in the two weeks before the 2018 mid-term elections in hopes of reducing the thumpin' he and his party got. Which of course never happened since Congress wasn't even in session anymore at that point in time. That "Middle Class Tax Cut!" still hasn't happened AFTER those mid-term elections either. lol.
A "soaring" stock market? The USA Stock market as measured by the S&P 500 Index is up only 27% since Trump took office. Divided by 2.6 years, that produces an annualized return of 10.38%, no more than the average annual return the USA Stock market has produced since that measure started being taken back in 1926. And it is notably less than the 22.75% per year average annual gain logged in under Obama from the day he took office until Trump took over. And, yep, that is even when you apply those deep losses in the market for the first couple of months to him and not to Bush. Which isn't even fair to Obama's economic record.
I'd happily trade my $900 reduction in taxes and anybody else's $3000 reduction in taxes for an annual average 22.75% increase in my stock portfolio over the past couple of years instead of a measly 10.38%. Trust me, that's worth a LOT more to me than $3,000 or even many times that amount. Not even counting the property value losses.
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08-08-19 08:36 #588
Posts: 5454Originally Posted by Smoothy [View Original Post]
A poorly trained chimp could have put an extra $3,000 in your income tax returns with a massive tax cut. Massive tax cuts are NOT the same as "economic results."
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08-08-19 08:01 #587
Posts: 3262Originally Posted by Smoothy [View Original Post]
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08-08-19 07:37 #586
Posts: 3497Originally Posted by EihTooms [View Original Post]
I paid 3,000 usd less tax this past year under Trump's tax plan than I did with Obama's. That's 3 grand more I can spend. Bottom line.
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08-08-19 07:20 #585
Posts: 5454Originally Posted by EihTooms [View Original Post]
An Update to the Budget and Economic Outlook: 2016 to 2026
August 23, 2016
https://www.cbo.gov/publication/51908
...
Economic Growth
In real terms (that is, with adjustments to exclude the effects of inflation), GDP rose at an annual rate of 1.0 percent in the first half of calendar year 2016. However, CBO expects that the economy will expand more rapidly in the coming months, with GDP growing by 2.0 percent over the whole of 2016 and by 2.4 percent in 2017 mainly because the major forces restraining the growth of investment, such as a decline in oil prices, have begun to subside (see figure below). Economic growth is expected to slow in 2018 and fall below but remain close to the growth of potential (maximum sustainable) GDP in 2019 and 2020. Most of the growth in output during the coming years will be driven by consumers, businesses, and home builders, CBO anticipates.
So, in August 2016, months before the November election, the projection was for a 2.4% Real Growth rate in GDP for 2017. Since Trump spent that entire first year doing nothing but playing golf, thinking up insulting nicknames for his critics, tweeting hateful, divisive directives to his slavish supporters and eating buckets of KFC at Midnight (similar to his second and third year so far), no new economic legislation was passed until the last week of 2017.
Actually, even though there is no chance in the world Trump knew these kinds of routine, periodic and largely accurate projections by the CBO were "a thing", I have no doubt that Moscow Mitch McConnell, the Repub Senate Majority Leader, knew all about them. Therefore, it was probably his idea to slow-walk and delay any economic legislation on the table to be passed by them until AFTER they locked in that projected 2.4% Growth rate for that first year of the Trump presidency that was already handed to them by Obama since it was quite likely to be higher and less costly than anything his Majority and Trump could produce anyway. And they could then take credit for it as far as low information voters were concerned.
Eventually, this was the actual Real GDP Growth rate for 2017:
https://www.google.com/search?q=Real+GDP+growth+for+the+USA +economy+for+2017&oq=Real+GDP+growth+for+the+USA +economy+for+2017+&aqs=chrome. 69 i57.22429 j1 j7&sourceid=chrome&ie=UTF-8.
2.3% annual change (2017)