the US economy is collapsing, & this time there'll be no recovery my friends. just ask Dave Stockman

[basquebromance]

the middle class is being eviscerated under Trump.

for the first time ever, america doesnt have the wealthiest middle class in the world. good job Donald!

 

[basquebromance]

how many of you are exciting with our high "GDP"? WHAT?

i have a son with autism. how much is me caring for him worth in GDP? ZERO! we're following GDP off a cliff.

self driving cars and trucks are gonna be great for GDP!

 

[badger2]

#57: We suggest a few hours with his book, The Great Deformation: The Corruption of Capitalism in America.

 

[Toddsterpatriot]

#57: We suggest a few hours with his book, The Great Deformation: The Corruption of Capitalism in America.

I tried to read it.
He whined so much, I couldn't read it all.

 

[Brain357]

US second-quarter GDP growth revised to 2.0%

 

[basquebromance]

Note: "Maximize GDP" is *not* one of the Fed's mandates. (Maximizing employment is.)

 

[basquebromance]

as the most influential economic statesman of this age, Stockman spent a lifetime grappling with a momentous shift: the transformation of finance from the fixed and regulated system of the postwar era to the freewheeling free-for-all of the past quarter century.

no other individual was closer to the decisions that attended this change.

the story of Stockman is also the story of the making of modern finance!

 

[basquebromance]

Every GOP president since Nixon valued Stockman's advice...he was the man who knew the arcana of the federal budget, next year's likely steel output, and the mysterious fragilities of finance.

 

[basquebromance]

"i used to pay 50$ for a suit. now 50 bucks will hardly get it cleaned. is it possible for mere human beings to decide how much money should be put out?" - Trump

 

[Toddsterpatriot]

as the most influential economic statesman of this age, Stockman spent a lifetime grappling with a momentous shift: the transformation of finance from the fixed and regulated system of the postwar era to the freewheeling free-for-all of the past quarter century.

no other individual was closer to the decisions that attended this change.

the story of Stockman is also the story of the making of modern finance!

He is now and always has been....a giant whiney twat.

 

[basquebromance]

we need to go back to the gold standard, my friends!
government cant bail out the crooks on wall street if it cant print the cash to do so!

 

[Indeependent]

Donald "this is the best economy ever" Trump will not know what hit him, much like the titanic. i call it the DEBTBERG!

i agree with Reagan budget director Stockman 100%

That asshole got us where we are today...all of our jobs in the Eastern hemisphere.

 

[Jets]

No economy can avoid a recession. There is no law or policy that can prevent an economic cycle from a downturn. That said, the same rule applies after a recession ends. A recovery is just as certain. To say otherwise is a specious argument.

 

[Toddsterpatriot]

we need to go back to the gold standard, my friends!
government cant bail out the crooks on wall street if it cant print the cash to do so!

Bailing out Wall Street gave the US Treasury huge profits.
Also, the Fed can print under a gold standard.

 

[basquebromance]

to counter "secular" stagnation, the government has to discourage excess saving by redistributing money from the high-saving rich to the high-spending poor. it would have to boost public spending and tolerate large budget deficits

 

[bendog]

Well, if for example the stocks making up the dow take a huge tumble of say 50%, the fed can't do a bailout like they did with CDOs where they essentially just bought the bad loan and thereby owned the real estate collateralizing the loan. If you're an investor, you'd still own the same number of index fund shares. If you're an investor you have faith that eventually the index will recover its value, and you won't have any real losses except for the time lost while the index recovered.

Stockman is a sophist though and has no real morals. in short, he speaks with forked tongue.

 

[Toddsterpatriot]

Well, if for example the stocks making up the dow take a huge tumble of say 50%, the fed can't do a bailout like they did with CDOs where they essentially just bought the bad loan and thereby owned the real estate collateralizing the loan. If you're an investor, you'd still own the same number of index fund shares. If you're an investor you have faith that eventually the index will recover its value, and you won't have any real losses except for the time lost while the index recovered.

Stockman is a sophist though and has no real morals. in short, he speaks with forked tongue.

the fed can't do a bailout like they did with CDOs where they essentially just bought the bad loan and thereby owned the real estate collateralizing the loan.

The Fed didn't buy any bad loans.

 

[basquebromance]

what causes inflation? excess government spending!

like defense spending!

 

[The Original Tree]

Donald "this is the best economy ever" Trump will not know what hit him, much like the titanic. i call it the DEBTBERG!

i agree with Reagan budget director Stockman 100%

London Bridge is falling down, falling down, falling down. London Bridge is Falling DOWN, MY FAIR LADY!

 

[MAGAman]

[QUOTE="basquebromance, post: 22985238,]

Donald "this is the best economy ever" Trump will not know what hit him, much like the titanic. i call it the DEBTBERG!

i agree with Reagan budget director Stockman 100%[/QUOTE]America-hating Democrats are so butthurt that Dorian didn't destroy chunk of Florida that they're making up new imaginary disasters.

You're pathetic.