robosmith Posted July 13, 2024 Report Posted July 13, 2024 Quote Trump in 2020 says markets will crash under Biden; Markets ... YouTube https://www.youtube.com › watch 10:40 In 2020, Donald Trump predicted stock markets would crash under a Biden presidency. Yet, the Dow Jones Industrial Average jumped to a record ... Quote Trump predicts market crash 'never seen before' if Biden ... YouTube https://www.youtube.com › watch Jul 2, 2020 — President Trump says the current economic and employment recovery would be interrupted if the next president increases taxes and regulations ... ^This is the economic "genius" the MAGA CULT is following as the markets set new record highs. 🤮 Quote
WestCanMan Posted July 13, 2024 Report Posted July 13, 2024 (edited) 3 minutes ago, robosmith said: as the markets set new record highs. 🤮 INFLATION!!!WARS!HOMELESSNESS!ALL AT RECORD HIGHS! YAAYYYY BIDEN!! Edited July 13, 2024 by WestCanMan 1 Quote If the Cultist Narrative Network/Cultist Broadcasting Corporation gave an infinite number of monkeys an infinite number of typewriters, leftists would believe everything they typed. "I don't hate American's, I pointed out the literacy rate to Uncle Sam." - LinkSoul "It's just a parable about rocks and trees talking to muslims to help them kill Jews who are trying to hide. It's open to interpretation." - robobigot
robosmith Posted July 13, 2024 Author Report Posted July 13, 2024 Just now, WestCanMan said: INFLATION!!!WARS!HOMELESSNESS!YAAYYYY BIDEN!! The US has always had ^these under POTUS from BOTH Parties. Duh Inflation is way down from the COVID supply disruption days, and corporations WERE intent on recovering from their poor bottom lines. Meanwhile the US has the best economy in the Western world. Better than Canada I'll wager. Quote
WestCanMan Posted July 13, 2024 Report Posted July 13, 2024 10 minutes ago, robosmith said: Meanwhile the US has the best economy in the Western world. Better than Canada I'll wager. Buddy, your complete lack of understanding of economics is showing. 1. Inflation: Printing trillions of dollars, like the Biden administration did, makes the ones in circulation worth less than before. To you it looks like costs are going up when the dollar's value is just going down. 2. The cost of Biden's Ukraine war: Biden couldn't get OPEC to raise production. They told him to pound sand. With access to Russia's natural gas down, and their own wartime consumption, and OPEC telling Biden to f off, and Biden and Trudeau's attacks on domestic energy and pipelines, the cost of energy went up. Ukrainian food production is also down because their farmers aren't out dodging bullets and tank rounds. The global decrease in the food supply increases the cost of food everywhere. 3. Wages/inflation/cost of living: As the price of food and energy are naturally driven up by Biden's war and his assaults on domestic energy, and the decreased value of the dollar also takes a toll, wages are stagnant. Honestly, inflation would be meaningless to us all if wages increased just as fast, but they're not and they can't. FYI increasing the money supply doesn't increase the amount of food and energy available. Businesses already have to raise costs to cover their own margins, so they can't give raises or their costs would go up even more and they'd lose customers. If businesses close, the economy shrinks, and things just get worse. 4. Disposable Income: That little sliver of light between your wages and your taxes and living/work expenses is your disposable income. Every extra dollar that you spend on food and gas comes straight out of your disposable income. It's a straight dollar for dollar equation, it's not just decreasing by the same % as inflation is increasing. IE, when the cost of everything goes up by 17%, it doesn't just drop your disposable income by 17%. It can take it all, or even put you under water. 5. The Dow Jones: It's measured in dollars, and as the value of the dollar decreases relative to everything else, the Dow is artificially increased. Basically the dow is up because the dollar is down. It's like if you started measuring it by cents all of a sudden instead of dollars and then said "OMG the Dow is 100x higher today than it was yesterday!!!" In summary: measure the economy by your own disposable income, and your prospects of buying a house, and that of everyone around you. If everyone you know is having a harder time getting by, and houses are getting harder and harder to afford, that's the true measure of the economy. When the Dow went up under Trump, it wasn't just because the value of the dollar was just dropping. Inflation was at 2% or less. The Dow was actually going up. Quote If the Cultist Narrative Network/Cultist Broadcasting Corporation gave an infinite number of monkeys an infinite number of typewriters, leftists would believe everything they typed. "I don't hate American's, I pointed out the literacy rate to Uncle Sam." - LinkSoul "It's just a parable about rocks and trees talking to muslims to help them kill Jews who are trying to hide. It's open to interpretation." - robobigot
robosmith Posted July 13, 2024 Author Report Posted July 13, 2024 27 minutes ago, WestCanMan said: Buddy, your complete lack of understanding of economics is showing. 1. Inflation: Printing trillions of dollars, like the Biden administration did, makes the ones in circulation worth less than before. To you it looks like costs are going up when the dollar's value is just going down. 2. The cost of Biden's Ukraine war: Biden couldn't get OPEC to raise production. They told him to pound sand. With access to Russia's natural gas down, and their own wartime consumption, and OPEC telling Biden to f off, and Biden and Trudeau's attacks on domestic energy and pipelines, the cost of energy went up. Ukrainian food production is also down because their farmers aren't out dodging bullets and tank rounds. The global decrease in the food supply increases the cost of food everywhere. 3. Wages/inflation/cost of living: As the price of food and energy are naturally driven up by Biden's war and his assaults on domestic energy, and the decreased value of the dollar also takes a toll, wages are stagnant. Honestly, inflation would be meaningless to us all if wages increased just as fast, but they're not and they can't. FYI increasing the money supply doesn't increase the amount of food and energy available. Businesses already have to raise costs to cover their own margins, so they can't give raises or their costs would go up even more and they'd lose customers. If businesses close, the economy shrinks, and things just get worse. 4. Disposable Income: That little sliver of light between your wages and your taxes and living/work expenses is your disposable income. Every extra dollar that you spend on food and gas comes straight out of your disposable income. It's a straight dollar for dollar equation, it's not just decreasing by the same % as inflation is increasing. IE, when the cost of everything goes up by 17%, it doesn't just drop your disposable income by 17%. It can take it all, or even put you under water. 5. The Dow Jones: It's measured in dollars, and as the value of the dollar decreases relative to everything else, the Dow is artificially increased. Basically the dow is up because the dollar is down. It's like if you started measuring it by cents all of a sudden instead of dollars and then said "OMG the Dow is 100x higher today than it was yesterday!!!" In summary: measure the economy by your own disposable income, and your prospects of buying a house, and that of everyone around you. If everyone you know is having a harder time getting by, and houses are getting harder and harder to afford, that's the true measure of the economy. When the Dow went up under Trump, it wasn't just because the value of the dollar was just dropping. Inflation was at 2% or less. The Dow was actually going up. Meanwhile the US economy is the ENVY of the WORLD. You don't have to explain ANYTHING to me about economics; I had a minor in Business Management in college including a course in Business Economics. The FACT is, the entire Western world's economy is WORSE and you (as always) are greatly exaggerating the effects of inflation when prices HERE actually DECLINED in June. They probably didn't tell you that on FOS LIES. LMAO Quote
Fluffypants Posted July 13, 2024 Report Posted July 13, 2024 Honestly I think there will be a recession shortly after Trump or anyone is elected because we need one to get inflation and interest rates back down to normal levels. Quote
Fluffypants Posted July 13, 2024 Report Posted July 13, 2024 11 hours ago, robosmith said: Meanwhile the US economy is the ENVY of the WORLD. You don't have to explain ANYTHING to me about economics; I had a minor in Business Management in college including a course in Business Economics. The FACT is, the entire Western world's economy is WORSE and you (as always) are greatly exaggerating the effects of inflation when prices HERE actually DECLINED in June. They probably didn't tell you that on FOS LIES. LMAO AOC has a full on degree in economics and she doesn't seem to understand it, so having a degree in something doesn't make you an expert in it. Quote
robosmith Posted July 13, 2024 Author Report Posted July 13, 2024 2 hours ago, Fluffypants said: AOC has a full on degree in economics and she doesn't seem to understand it, so having a degree in something doesn't make you an expert in it. What makes YOU believe you're qualified to judge ANYONE'S economics expertise, let alone a US Congressperson? BTW, were you the subject of the movie Fluffy Pants? LMAO Quote
gatomontes99 Posted July 13, 2024 Report Posted July 13, 2024 https://www.macrotrends.net/2324/sp-500-historical-chart-data Stocks did crash under Biden. They have just recently recovered. But, with multiple unemployment increases in a row and stagnant private sector job growth, we are likely at a peak in the stock market, set for another drop. Quote Don't you think that if I were wrong that I would know it?
robosmith Posted July 13, 2024 Author Report Posted July 13, 2024 1 hour ago, gatomontes99 said: https://www.macrotrends.net/2324/sp-500-historical-chart-data Stocks did crash under Biden. They have just recently recovered. But, with multiple unemployment increases in a row and stagnant private sector job growth, we are likely at a peak in the stock market, set for another drop. A minor dip caused by pandemic is NOT a crash, and the UE is at 4%. Duh If anyone is to blame for the spread of COVID in the US, it is Trump. Do you want to know how? I've told the story here many times. Many super-spreader events due to Trump and HIS POLICIES. Quote
gatomontes99 Posted July 13, 2024 Report Posted July 13, 2024 8 minutes ago, robosmith said: A minor dip caused by pandemic is NOT a crash, and the UE is at 4%. Duh If anyone is to blame for the spread of COVID in the US, it is Trump. Do you want to know how? I've told the story here many times. Many super-spreader events due to Trump and HIS POLICIES. So, explain how the stock market continued to climb into 2021 but then fell dramatically after covid started to fall off? Covid wasn't the problem. Supply constraints, China's lack of production and baby boomers retiring in mass led to a drop in production/supply. Quote Don't you think that if I were wrong that I would know it?
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