WSJ: The Economy Is Absolutely Roaring - At Least For Now

[feralkid]

Wait, so how much is a canadian dollar worth vs US dollar? 1.33:1? Yup. 33% more. That's exactly why we can demand that other countries end their BS tariffs on our goods. It's an eye for an eye now. Have you read how much many of these countries are charging us for certain goods? It's horseshit. When we retaliate, all of a sudden they're "pissed" and "bullied"? Are you serious? Grow some balls like the Donald and stand up for your money or don't stand up at all.

Oh, my dear lord, how do you manage to fit so much stupid into such a small space?

 

[ivwshane]

Oh, my dear lord, how do you manage to fit so much stupid into such a small space?

I hear he works out. More muscle than brains means there is a lot of room for stupid.

 

[soundforbjt]

I hear he works out. More muscle than brains means there is a lot of room for stupid.

I think a few weights have fallen on his head.

 

[blackangst1]

https://www.bbc.com/news/business-44736670



Job growth is a good sign but there are two scary items as well. Unreported unemployment, just how many people are actually unemployed in this country but just not reporting it? Second is the average hourly earnings. It's pitiful and really needs to jump up a couple of tiers. Maybe enforce a cap on how much profit a company or business can earn with an equation that depends on how much they pay their employees, the benefits provided to their employees, etc.

Hasnt this been the same argument on both sides when federal economy data is published?

Thats a trick question.

 

[fskimospy]

Hasnt this been the same argument on both sides when federal economy data is published?

Thats a trick question.

The real answer is the economy is much the same now as it’s been for the last three or so years, albeit a little behind Obama’s last few years. Decent job gains, poor wage growth. Anyone who says it was bad before but is good now or vice versa is letting their partisanship run their brain.

 

[blackangst1]

The real answer is the economy is much the same now as it’s been for the last three or so years, albeit a little behind Obama’s last few years. Decent job gains, poor wage growth. Anyone who says it was bad before but is good now or vice versa is letting their partisanship run their brain.

For the most part I agree.

 

[Jhhnn]

The real answer is the economy is much the same now as it’s been for the last three or so years, albeit a little behind Obama’s last few years. Decent job gains, poor wage growth. Anyone who says it was bad before but is good now or vice versa is letting their partisanship run their brain.

You mean... massive tax cuts for the rich had virtually no positive effect?

Who could have foreseen this?

 

[K1052]

Watching Peter Navarro on tv explain how tariffs are economic positives after of course ignoring that he told people other countries wouldn't retaliate before we did them (they have).

I think the odds are reasonable that this situation escalates out of all possible control if Trump doesn't want to look weak and back down while this idiot regurgitates his own ideas back at him. I think the most likely outcome is that damage to the underlying economy that isn't immediately seen will accumulate to a kind of critical mass at which point it will be impossible to defuse.

 

[UNCjigga]

Oh, my dear lord, how do you manage to fit so much stupid into such a small space?

He's right you know. In fact, I hear Trump is going to label Trudeau and Canada as currency manipulators!!

 

[SP33Demon]

Oh, my dear lord, how do you manage to fit so much stupid into such a small space?

Womp womp

 

[SP33Demon]

Watching Peter Navarro on tv explain how tariffs are economic positives after of course ignoring that he told people other countries wouldn't retaliate before we did them (they have).

I think the odds are reasonable that this situation escalates out of all possible control if Trump doesn't want to look weak and back down while this idiot regurgitates his own ideas back at him. I think the most likely outcome is that damage to the underlying economy that isn't immediately seen will accumulate to a kind of critical mass at which point it will be impossible to defuse.

If by impossible to defuse you mean fixed with a simple phone call, then yeah I agree. It's Negotiation 101 to remove things that benefit your opponent before they're willing to consider other options.

 

[blackangst1]

You mean... massive tax cuts for the rich had virtually no positive effect?

Who could have foreseen this?

It had a positive effect on the rich.

 

[SP33Demon]

It had a positive effect on the rich.

It had a positive effect on everyone. Families with kid, my tax bracket that went down, everyone except people who live in blue states with overpriced property taxes. The genius part about it was that it has now caused dissent between those taxpayers and their state legislatures. Pissed off about losing your property tax deductions? Better write a letter to your local congressman. Genius, pure genius.

 

[fskimospy]

It had a positive effect on everyone. Families with kid, my tax bracket that went down, everyone except people who live in blue states with overpriced property taxes. The genius part about it was that it has now caused dissent between those taxpayers and their state legislatures. Pissed off about losing your property tax deductions? Better write a letter to your local congressman. Genius, pure genius.

The dummy now thinks that people will blame their state and local representatives for the feds raising their taxes.

It’s hard to think of a tax law that was more incompetently written than this one, I’m sure you agree. It was just a way to give rich people lots of money.

 

[K1052]

If by impossible to defuse you mean fixed with a simple phone call, then yeah I agree. It's Negotiation 101 to remove things that benefit your opponent before they're willing to consider other options.

No, I mean pushing us and/or the world economy over the tipping point into a recession or worse.

 

[SP33Demon]

The dummy now thinks that people will blame their state and local representatives for the feds raising their taxes.

It’s hard to think of a tax law that was more incompetently written than this one, I’m sure you agree. It was just a way to give rich people lots of money.

Enjoying the blue state property tax non-deduction yet? I bet you live in a McMansion in an all white gated neoliberal community but then come here to bitch about inequality of outcomes for the Dems. Trump's tax cut gave you a big, well deserved middle finger. Luckily I live within my means and didn't go crazy with an overpriced house so I can still deduct my property tax, although I'm getting close to the limit since I'm making more now. Even if I had to pay a little bit more tax it's well worth knowing that rich neoliberals like you are going to be paying a shitload more. The free ride is over, homey. Better whine to your local congressman to lower those overpriced property taxes.

 

[SP33Demon]

No, I mean pushing us and/or the world economy over the tipping point into a recession or worse.

I don't get it, the US has a GDP that hasn't been seen in decades and unemployment across all demographics is at almost all time lows. Please explain how tariffs are going to push us into a recession or worse?

 

[fskimospy]

Enjoying the blue state property tax non-deduction yet? I bet you live in a McMansion in an all white gated neoliberal community but then come here to bitch about inequality of outcomes for the Dems. Trump's tax cut gave you a big, well deserved middle finger. Luckily I live within my means and didn't go crazy with an overpriced house so I can still deduct my property tax, although I'm getting close to the limit since I'm making more now. Even if I had to pay a little bit more tax it's well worth knowing that rich neoliberals like you are going to be paying a shitload more. The free ride is over, homey. Better whine to your local congressman to lower those overpriced property taxes.

Lol. You whiffed in about every way possible and your post shows you don’t even understand the tax law you are bragging about. If your house is cheap then you won’t exceed the increased standard deduction. Under the Republican tax bill the only way you can still take advantage of the MID and property tax deductions is if you have a super expensive house.

You dummy, it’s amazing that you don’t know these things and yet you claim to work in finance.

 

[ivwshane]

Lol. You whiffed in about every way possible and your post shows you don’t even understand the tax law you are bragging about. If your house is cheap then you won’t exceed the increased standard deduction. Under the Republican tax bill the only way you can still take advantage of the MID and property tax deductions is if you have a super expensive house.

You dummy, it’s amazing that you don’t know these things and yet you claim to work in finance.

Does office coffee boy at the local brokerage firm count as working in finance? Because if it did then his claims would make sense.

 

[fskimospy]

Does office coffee boy at the local brokerage firm count as working in finance? Because if it did then his claims would make sense.

If someone who managed my money wrote something like what Speedy wrote I would be looking for a new financial adviser immediately.

 

[repoman0]

Enjoying the blue state property tax non-deduction yet? I bet you live in a McMansion in an all white gated neoliberal community but then come here to bitch about inequality of outcomes for the Dems. Trump's tax cut gave you a big, well deserved middle finger. Luckily I live within my means and didn't go crazy with an overpriced house so I can still deduct my property tax, although I'm getting close to the limit since I'm making more now. Even if I had to pay a little bit more tax it's well worth knowing that rich neoliberals like you are going to be paying a shitload more. The free ride is over, homey. Better whine to your local congressman to lower those overpriced property taxes.

I’m happy to pay relatively higher state and property taxes so that we can keep the best schools in the country open five days a week here in Massachusetts. And I will still save money due to the tax bill but couldn’t care less either way because I have more than enough and am not a greedy POS. I’d rather live in a well educated community, not some shithole with low property taxes like Oklahoma where they can’t even keep schools open.

For liberals it’s worth it to pay a little more state and local tax so that our kids eat yours for breakfast in the workforce. For conservatives it’s worth it to pay more in federal taxes to spite liberals.

 

[Engineer]

I don't get it, the US has a GDP that hasn't been seen in decades

https://www.statista.com/statistics...-from-preceding-period-in-real-gdp-in-the-us/

decades.....

 

[HomerJS]

Hey OP what part of this economy under Trump under his first 18 months has outperformed Obamas last 18 months?

 

[Jhhnn]

I’m happy to pay relatively higher state and property taxes so that we can keep the best schools in the country open five days a week here in Massachusetts. And I will still save money due to the tax bill but couldn’t care less either way because I have more than enough and am not a greedy POS. I’d rather live in a well educated community, not some shithole with low property taxes like Oklahoma where they can’t even keep schools open.

For liberals it’s worth it to pay a little more state and local tax so that our kids eat yours for breakfast in the workforce. For conservatives it’s worth it to pay more in federal taxes to spite liberals.

More than that, Libs are willing to extend that to the national level to maintain education & services in less prosperous regions. It's not just about my school district & my hospital but about all of us together.

 

[SP33Demon]

Lol. You whiffed in about every way possible and your post shows you don’t even understand the tax law you are bragging about. If your house is cheap then you won’t exceed the increased standard deduction. Under the Republican tax bill the only way you can still take advantage of the MID and property tax deductions is if you have a super expensive house.

You dummy, it’s amazing that you don’t know these things and yet you claim to work in finance.

You have no idea how the $10k SALT cap works if you think a bigger property won't = more taxes paid since you can't deduct them anymore. Bigger property usually = bigger property taxes which are magnified in the blue states. So tell us how the 10k SALT cap works since you "know these things". Why do you think blue states are now trying to skirt the 10k cap by offering any taxes >10k cap to be paid as a charitable donation? This will inevitably be shot down by the courts, but nice try Blue States. You're going to pay more and you're going to like it.

Blue states are also going to have to cut your tax rates in line with the Red States or continue to get bent over with no Vaseline. To reiterate my OP, better write your congressman if you don't like getting bent over by the SALT cap. This will now sow the seeds of discord in Blue States, it was a genius plan. Pure genius by Trump. The cool thing is that Blue Staters can opt to move to a more affordable state if they want. I live in a red county in a blue state but am planning to move to a red state very shortly where property taxes are dirt fucking cheap with great weather and family recreation. Blue states just fucking suck since they already weren't affordable to comfortably live before the tax cut's new rules. NJ/NY/IL/CA are all great examples, and this new tax bill is just SALT (pun intended) in the wound and makes it even more expensive. F that.