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#641 Don_Homer

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Posted 4 days ago

All markets are going up Darth, not only America.

Well some demographic groups has been discussed before. (Poor people, Mexicans).

Offshore drilling indeed but he also threatens to stop funding climate change programmes and more (Lonello knows more about these things and told a lot about this already.)

#642 DarthRemark

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Posted 4 days ago

A rising tide lifts all boats.  :)
 
What do you mean, exactly?  The economic gains are positive for the poor.  If you're talking about *illegal* Mexicans that's a huge complicated problem as you well know.  What do you expect us to do about it?
 
I support reasonable environmental protections.  I'm not too familiar with the climate change programs that were defunded.


#643 Lonello

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Posted 4 days ago

(Lonello knows more about these things and told a lot about this already.)

Well, I said to watch for the youngsters like Fairway. He cries victory now because his dad gets a few bucks from that 2 trillion Trump has borrowed. But he'll be bankrupt in a few years; 2023 I said.

 

And that's exactly the news of the day: https://www.zerohedg...rs-default-2023

 

I think it's awful all these youngsters are in default by then, just to give Trump's friends some breaks. So yes, Don. It's indeed on the very short term.

 

Also, the stock market figures are misrepresented. Dollar went down from almost 1:1 on the euro to 1:1,222 today. That clears almost all gains from 20.000 to 25.000... not saying they will go down now but it is a poor result compared to Obama's.

 

DTkjdjzWkAALQOk.jpg


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#644 Don_Homer

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Posted 4 days ago

That might be right too, Lonello. I dont know enough to judge this. Short term policies are obvious for all though. But I meant that you know better about the policies of Trump regarding climate change.

#645 Lonello

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Posted 4 days ago

Queenbee will know everything about that, Don. After all, she just went through some hurricanes. I for one am all about the long game on both climat and finances, not the short game Trump is after. Trust me, Don. It's true.


Lo

#646 tobermoryx

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Posted 3 days ago

I don't get the hysteria about Trump.

 

What does he actually do  ?

 

Watch the news channels and tweet about what he sees there ?



#647 Lonello

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Posted 3 days ago

Well, he's killing the kids, the Fairways. Why doesn't he give them a good opportunity in life instead of making them bankrupt? And he's not only making them bankrupt but he's also killing and depleting the lands they're living on. He's not the first to do this, but this was supposed to be a time to change things around, yet all we get is a major set back.

 

Every prediction shows kids now for the first time in centuries will be worse off... so it's like Queenbee said she'll live her days. But the generations coming after her will take the beatings of his policies. That is not a fair way, tobermoryx.


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#648 DarthRemark

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Posted 2 days ago

Well, he's killing the kids, the Fairways. Why doesn't he give them a good opportunity in life instead of making them bankrupt? And he's not only making them bankrupt but he's also killing and depleting the lands they're living on. He's not the first to do this, but this was supposed to be a time to change things around, yet all we get is a major set back.

Come on, Lo.  You've been hyperventilating about Trump since before he took office.  Don't act like your objections are because he hasn't righted the finances. 
 
The debt is the single biggest issue we face, but he's tackled taxes, Obamacare and regulations in his first year and those are pretty important too.  We'll see what happens going forward.  He's a businessman so can appreciate the problem.  But lets face it.  We're pretty far gone.  Trump didn't put us $20T in the hole with impossible entitlement promises, but that doesn't mean he's doing nothing to improve our situation.  I'm hoping that fiscal hawks can still get traction, but it's likely impossible to avoid major pain at this point.  

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#649 Lonello

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Posted 2 days ago

Yes I said he would probably do the same as the Presidents before him which would mean in this day of age he would be adding another 10 trillion to the debt. If he would do that the right way he would actually have my support. Yet he doesn't and only gives his first 2 trillion to the onepercenters. Sure Fairway's father will get a few bucks from it on the very short time too, but Trump's plan contails that they'll have to pay up after he has left office. This leads to 40% of students going bankrupt for example.

 

I'm not saying that without changed policies there wouldn't be such defaults. Had any POTUS done nothing, maybe it would end up with 20% too. But with active policies PRO students you would be able to bring the figure down to acceptable levels. That means not giving 2 trillion away to your friends but to put it in education, for one. Giving the next generation a better future as so many generations before them had that too.

 

You're right the US is pretty far gone. Did you see gkaros' post? That was one big alarmbell wasn't it? Trump didn't put $20T in the hole but he is making things much worse. And with his hole comments he also alienated the bipartisan efforts as I predicted... so that government shutdown will come. So internally it's a mess but also externally.

 

You're right we can use a good crisis now. Maybe then something good will come of it. We're just at the beginnings of this new big crisis now. I think we're both curious how it will pay out exactly.


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#650 DarthRemark

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Posted 2 days ago

You've yet to argue anything but envy with the 1%.  I linked to a great graph a while back showing who pays the taxes in the US.  If you cut taxes the ones who benefit are going to be the ones paying them.  The reality is that when people have money they do things with it that are almost always taxable.  The goal is to generate activity, which will provide tax revenue but also produce other positives.  You can't tax your way into prosperity.  DC doesn't need more money.  It's collecting record taxes right now.  I'm not sure what the right way of spending $10T might be but that's a path to sure doom.  We need growth and we need spending cuts. 

 

As far as students go, the US spends an enormous amount on education already.  We need to address why it costs so much, not just write checks for whatever a college decides to charge.  
 
Trump told them what he wanted in the immigration deal and they offered a fraction of it while exacerbating the existing problem.  The deal was a joke and he was right to react the way he did.  The DC pols want to keep playing the game.  Trump demands solutions. 
 
You're right, I don't know how the financial crisis will play out.  It will be interesting to watch it unfold, though I suspect it will be very painful for me and most other Americans. 
 
We're in this mess because DC is totally broken.  Trump is the handgrenade we sent him there to be.  On the whole I'm very supportive of his efforts. 

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#651 Lonello

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Posted 2 days ago

I've argued over pretty much every ministery so there's no problem there. But the long line is indeed that of the trillions. I mean, sure Trump has stopped funding birth control, but that just amounts to a couple of millions. So we can talk a lot about that subject but the funds have already been found elsewhere for it (our Dutch minister just showed that yesterday in the late night talkshow over here) so there's not even any whining about it.

 

I've shown very many great graphs showing exactly how things stand. For instance the stock market which on dollar index has hardly grown at all since Trumpo started. But internally, if you keep within your country, it's still nice to see your stocks grow from 20000 to 25000... it's just that the stockmarket is owned by a small group of richest people... it's well known the top 20% owns a staggering 80%. So you can be delighted that your 401k grew but if you do not belong to that richest group it'll hardly mean a thing and any upcoming set backs you will not recover from. This rich group is smart and can switch quickly from the one market to the other.

 

The right goal indeed would be to generate activity. If you give a poor man 10 bucks he'll spend the 10 bucks. But Trump gives it to the onepercenters and they already have 10 bucks, and a lot more. So this extra 10 bucks they'll do nothing with. Zero activity. You're dreaming if you believe they'll invest. Just look at Apple. One big bucket of cash. And now they're getting more cash from Trump. So they might give some back to their stockholders, which for 80% has plenty of cash already too. Bad on bad.

 

After one year, we now know Trump is on route for that 10 trillion extra. And he has not even paid for the Wall or his other plans. I'm sure it will come to that 10 trillion and more once the new crisis starts. It'll always be easier for a POTUS to get funding from Congress when there is a crisis as the concerned citizens can't be let down. So Trump will apply another bazooka, meaning a QE 4... or what number were we?

 

You see, the rest of the world has stopped buying the US bonds... that while debt is at a new top, and rates are getting higher by the day... this is all unsustainable and there is no Trump plan to do anything about it. Just some little funds he cut in the lines of birth control etcetera which is a joke if you see what he borrows new the day after. He has no plan so the debt will rise and rise. It won't end well, that we agree on.


Lo

#652 DarthRemark

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Posted A day ago

They absolutely will do something with it.  You act like they'll stick it in a sock!  Nobody does that with billions.  Even if they don't build a factory they'll at least put it somewhere to gain interest.  Really, anything they do with it generates some type of activity. 
 
You're right, the super rich can better protect themselves.  But they can do that regardless of taxes.  I don't understand your point there.
 
Interesting that you mentioned Apple's horde though.  Most of it is kept overseas, but big news today: They will now repatriate about $250B, paying $38B in taxes, investing $30B in capital, creating 20,000 new jobs and more.  That's real-world impact that wouldn't have happened before. 
 
Our spending trajectory is still bad under Trump, though no worse than it was with Obama or would have been with Hillary.  No need to impugn him because he didn't stop it in the first year.  Thought it's our worst problem, dealing with Obamacare and taxes first was arguably more important strategically.  I know he's not even indicated a push to balance the budget, but we'll see what happens going forward.  I don't expect a change, but am still hopeful that it can. 
 
We'll also see what happens with the tax cuts.  DC had record revenues in 2017.  We'll see what happens in 2018.  
   
btw: I think I came across a little short with those posts yesterday and I apologize.  Like a poker friend of mine always says "let's keep it friendly".   :)
 
Also btw: Did you see the news conference with the White House doctor yesterday?  It was hysterical.  Trump ordered him to give him a full exam then report the results to the WH press corp.  It seems Trump is in GREAT health and possesses ALL of his faculties (so he's not really crazy as has been suggested on this thread so many times). The press wouldn't let it go though.  Seriously, watch the news conference.  It was funnier than AHS.  :)


#653 Lonello

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Posted A day ago

Yes I take it this was the son of that last Doctor, you remember from before the campaign, the Catweazel with the very long hair that also said he had never seen such a wealthy person in his entire professional life as a Doctor-PERIOD, now this son of his said Trump would live to be 200 years old if he stopped eating from McDonalds :o :lol:

 

As for finance, Darth, I only look at this from the big scope. Obama nor Trump can be cheered for this bought economy of a measely 2,1 going on 2,5%. If you borrow 2 trillion and your economy grows 1 trillion, is that +1 trillion then? No, it's still -1 trillion.

 

Just check gkaros' post. That has all the importance! Also this one.

 

DTxna_RWkAAtsoQ.jpg

 

It is funny the Chinese put the strings on right before the elections. They let loose a little bit now to see if Trump does what they tell him to do. If not, they will pull the strings again. They have the power to default the US.

 

What will that all mean? Well, not much on the short run... I expect you have not even noticed the dollarslump. You see the Dow at 26000 but from over here in Europe we only see little gains in the Dow. As the Euro is +23% in strength so the dollars on the table are less worth here while they are as worthwhile on your table...


Lo

#654 DarthRemark

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Posted 19 hours ago

I'm not familiar with the other doctor.  I heard this doctor served both Bush and Obama and has a reputation above reproach though.  But of course he gave the wrong answer because everyone knows Trump is crazy.  :)
 
The big scope shows a scary picture that we'll be forced to tackle soon enough.  Truthfully, I'm stunned we made it to $20T without imploding.  The big news this hour is they may not have the votes to keep the govt open.  I guess we'll know by the time you wake up tomorrow...  I'm just fine with a shutdown.  My country is sick and it needs an intervention.
 
I'm not knowledgable enough to talk intelligently about the dynamics of the currency trade.  The euro is on an upward trajectory relative to the dollar, but has been much higher in the past.  These things fluctuate but of course will only get worse as respect for the dollar erodes.  I've read stories from the last few years indicating some international lack of respect for the euro as well.  Of course we're worse off, but I really have no idea how to protect wealth in the coming storm.  Since you are a financial professional maybe you can give your thoughts here.  I've thought about buying a stack of Krugerrands and putting them in a safe.  Seriously.

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#655 Lonello

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Posted 4 hours ago

Yes but do buy the RIGHT rands... the nickel ones you have to buy an awful lot from to catch some weight in your 401k ;)

 

I'm stunned we made it to $20T without imploding.  The big news this hour is they may not have the votes to keep the govt open.  I guess we'll know by the time you wake up tomorrow...  I'm just fine with a shutdown.  My country is sick and it needs an intervention.

 
I'm not knowledgable enough to talk intelligently about the dynamics of the currency trade. 

Well, read today's news... it's what I mean: https://schiffgold.c...-global-wealth/

 

So you borrow 3 trillion, return is 1 trillion... where's that economic growth again? In effect it's -2 trillion as the onepercenters put the rest in their socks. The American Dream that was such a great story in my youth no longer exists... every figure will show you that.

 

 

We need a crisis, yes. Just let the government close down... only thing I need over here is a new passport from them... and in a few years a new driver's license if I would want to travel outside Europe, and drive licensed. The rest... I can do without too.

 

As for Trump spectacular rates have come out:

 

DT1e0feVoAA8Qd0.jpg

Mind Trump was almost beaten by Putin! The last time Bush W. nearly escaped that fate with 4%, now Trump has gone down so hard this gap is now only 3% which is the closest ever... I wonder if Russia will catch up with the US next year after Putin has been reelected... it will be the crown on the KGB spy's head :ph34r: :rolleyes:


Lo




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