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  1. #1
    Join Date
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    Default The Stable Geniusís trade war not going so well

    Of course, he is a stable genius, just ask Fox News and the alt right! Lmmfao

    https://www.yahoo.com/finance/news/t...234528781.html


    Sent from my iPhone using Tapatalk


  2. #2
    Join Date
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    Default

    Tariffs are the greatest thing ever. It's now part of the GOP platform.

  3. #3
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    Default

    The left taken residence in Crazytown. That includes the loony DFL posters on tOTB. I hate to admit it, but I find it extremely enjoyable. LOL!
    Kingdom Warriors

  4. #4

    Default





    source: tradingeconomics.com


    source: tradingeconomics.com

  5. #5

    Default

    Meanwhile, in real life.....



  6. #6

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  7. #7

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  8. #8

    Default

    Trumpists keep trotting out the nominal wage growth numbers while completely ignoring the real wage growth numbers. This is especially salient when you're discussing the impacts of a trade war given that in general the costs of tariffs are passed on to consumers.

    August's numbers haven't come out yet, but given that it will only be 1/12th different from the July numbers, they're pretty informative:

    https://www.bls.gov/news.release/pdf/realer.pdf



    The 0.2% drop YOY was the largest since April 2012:

    https://www.bls.gov/opub/ted/2018/re...-july-2018.htm
    Last edited by justthefacts; 09-07-2018 at 10:55 AM.

  9. #9

    Default

    Quote Originally Posted by justthefacts View Post
    Trumpists keep trotting out the nominal wage growth numbers while completely ignoring the real wage growth numbers. This is especially salient when you're discussing the impacts of a trade war given that in general the costs of tariffs are passed on to consumers.

    August's numbers haven't come out yet, but given that it will only be 1/12th different from the July numbers, they're pretty informative:

    https://www.bls.gov/news.release/pdf/realer.pdf



    The 0.2% drop YOY was the largest since April 2012:

    https://www.bls.gov/opub/ted/2018/re...-july-2018.htm
    So the idea here - if these figures are accurate...is that real wages are down because of inflation. Okay- let's accept that idea for a moment. Tax rates are down. Is that figured into this? If a person is taking home 5% more each paycheck isn't that a really big deal (even though the Dems call it "crumbs") compared to a .2% reduction in the real wage? Then if a person happens to be doing well enough to be saving money- they might be getting a little more in interest bearing accounts and a lot more in investment accounts than before. What say you? I think that the average person is a lot better off than a year or two ago.

    Also note that the biggest adjustment is fewer hours. I can tell you that in a full employment economy, its not because the employers are not offering the hours. It is because the employees have the money and are taking time off work because the can again. That's a wonderful thing!
    Last edited by bga1; 09-07-2018 at 11:56 AM.

  10. #10

    Default

    Quote Originally Posted by bga1 View Post
    Meanwhile, in real life.....


    Meanwhile, in real life...

    July job growth revised downward by 10k.
    by station19 - Quit talking stupid.

  11. #11

    Default

    Quote Originally Posted by Unregistered User View Post
    Meanwhile, in real life...

    July job growth revised downward by 10k.
    Trump revised downward is greater than Obama revised upward. Why are you so ungrateful??

  12. #12

    Default

    This is what bad looks like.... I think Justin from Canada will be back at the bargaining table soon.



  13. #13
    Join Date
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    Default

    Quote Originally Posted by Unregistered User View Post
    Meanwhile, in real life...

    July job growth revised downward by 10k.
    Down from where, dummy. From the "new normal?"
    Kingdom Warriors

  14. #14

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    Quote Originally Posted by bga1 View Post
    This is what bad looks like.... I think Justin from Canada will be back at the bargaining table soon.


    How many times can Canada lose that many jobs, and still have any jobs? They are being devastated.

  15. #15

    Default

    Quote Originally Posted by bga1 View Post
    So the idea here - if these figures are accurate...is that real wages are down because of inflation. Okay- let's accept that idea for a moment. Tax rates are down. Is that figured into this? If a person is taking home 5% more each paycheck isn't that a really big deal (even though the Dems call it "crumbs") compared to a .2% reduction in the real wage? Then if a person happens to be doing well enough to be saving money- they might be getting a little more in interest bearing accounts and a lot more in investment accounts than before. What say you? I think that the average person is a lot better off than a year or two ago.

    Also note that the biggest adjustment is fewer hours. I can tell you that in a full employment economy, its not because the employers are not offering the hours. It is because the employees have the money and are taking time off work because the can again. That's a wonderful thing!
    A) "if these figures are accurate": Are you suggesting that BLS stats may not be accurate? Because if so, you might want to re-examine your first couple of posts in this thread.

    B) The problem is that wage growth (or reduction) is compounding. If your wages grow by a percent this year, whatever percent they grow by next year is added to that. The tax cut doesn't work like that. In fact, not only does the tax cut not compound, the tax cuts actually go down over time. Regardless, I can't honestly believe your point is that we don't need wage growth anymore because taxes are down.

    C) People in the middle-class got an average tax cut of 1.6%, nowhere near the 5% you quote. The lower-class got less than 1% https://www.taxpolicycenter.org/taxv...ng-300000-plus

    D) Look at the table again. Hours are up year-over-year.
    Last edited by justthefacts; 09-07-2018 at 04:57 PM.

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