Trump’s Economic Plans - or Lack thereof . . .

[SLD]

Interesting article by Paul Krugman analyzing Trump’s lack of a coherent economic plan.

Trump's Team of Economic Yes-Men

Or, why he still has no plan

paulkrugman.substack.com

Basically everyone is afraid to say much of substance for fear of contradicting this asshole who doesn’t know shit about economics. So we get this contradictory essay by his new head of council of economic advisors. And it’s just not coherent and is self contradictory. Worse it endangers the the role of the dollar as a reserve currency. The economic consequences of this would utterly devastate our economy. That in turn would seriously weaken our national security.

I still say that’s the plan. Trump is a Russian agent.

 

[Jimmy Higgins]

Interesting article by Paul Krugman analyzing Trump’s lack of a coherent economic plan.

Trump's Team of Economic Yes-Men

Or, why he still has no plan

paulkrugman.substack.com

Basically everyone is afraid to say much of substance for fear of contradicting this asshole who doesn’t know shit about economics. So we get this contradictory essay by his new head of council of economic advisors. And it’s just not coherent and is self contradictory. Worse it endangers the the role of the dollar as a reserve currency. The economic consequences of this would utterly devastate our economy. That in turn would seriously weaken our national security.

I still say that’s the plan. Trump is a Russian agent.

Fuck national security, I want to retire or pull back a lot after my daughter graduates from college. I can't do that if Trump fucks up our currency.

 

[Elixir]

I still say that’s the plan. Trump is a Russian agent.

Yes, and water is wet.
People knew this. Republicans are eager for it. They want to be the oligarchs of the new USSR.
They have just about 3 1/2 years to do away with our electoral system, or rig it fully enough that results are as predictable as Russia’s.

 

[laughing dog]

So Trump is going to create the External Revenue Service to collect tariffs as if the US Customs and Border Protection doesn't do that already. So Trump is going to expand the deep state? What do Elon and Vivek say about this?

 

[Elixir]

So Trump is going to create the External Revenue Service to collect tariffs as if the US Customs and Border Protection doesn't do that already. So Trump is going to expand the deep state? What do Elon and Vivek say about this?

As long as they get their cut Leon and Viv are cool with it.
This would (will?) involve billions - maybe hundreds of billions - of dollars. Creating an agency staffed with co-conspirators to “oversee” taking in all the money, allows another megagrift come into being.

 

[TV and credit cards]

Donald Trump won in November because many voters believed that he would bring down grocery prices; Republicans apparently still think he will, even though he himself admitted — after the election, of course — that it would be “very hard.” Here’s a clearer picture, via Briefing Book, showing that while Democrats, like most economists, expect inflation to rise under Trump, Republicans believe that he will somehow stop it dead in its tracks

Grocery prices are already coming down just on the knowledge of Trump coming back into office to save the everything. Look, this morning's CPI report has groceries down 3.4% YoY. Now, maybe the BLS is factoring in coupons and that sketchy looking meat that's a dollar off but still, we're moving in the right direction. MAGA! And since the election, word around the hen house is, let's get to work girls.

 

[ideologyhunter]

Don't be so hard on the National Toddler. Anyone who can turn $5 million into $88.3 million, just through exerting personal charisma and knowing the right words to say, well, that man knows all there is to know about creating wealth...
No, seriously, let's keep dumping on the NT, because the $5 million is what he used to owe E Jean Carroll, and the $88.3 million is what he owes her after running his big fat mouth and repeating the same offense over & over.
People saw this and still voted for him! Congratulations, Trump voters!

 

[Elixir]

Don't be so hard on the National Toddler. Anyone who can turn $5 million into $88.3 million, just through exerting personal charisma and knowing the right words to say, well, that man knows all there is to know about creating wealth...
No, seriously, let's keep dumping on the NT, because the $5 million is what he used to owe E Jean Carroll, and the $88.3 million is what he owes her after running his big fat mouth and repeating the same offense over & over.
People saw this and still voted for him! Congratulations, Trump voters!

He will do everything possible, legality notwithstanding, to have that judgment annulled. I bet he succeeds, too, since every single branch of government and business is lined up to kiss his butt.

Yes, I know it’s a State matter over which he has no legally granted control. But it’s people, and they can be threatened or worse, until they do what is required. And it will all fall under “official acts” in retrospect.

 

[TV and credit cards]

... and what they might do to the global economy.

The review found several indicators watched by bond traders are flashing red. U.S. federal debt has increased to more than $28 trillion, from less than $20 trillion when Trump took office in 2017. Debt is also piling up in other countries, with the world’s total public debt expected to cross $100 trillion for the first time in 2024, leaving investors nervous.

The review found several indicators watched by bond traders are flashing red. U.S. federal debt has increased to more than $28 trillion, from less than $20 trillion when Trump took office in 2017. Debt is also piling up in other countries, with the world’s total public debt expected to cross $100 trillion for the first time in 2024, leaving investors nervous.

Much rides on how bond markets respond to the Trump administration. A surge in interest rates in the United States – the world's biggest economy and the lynchpin of the global financial system – would send shockwaves globally.
Sovereign debt markets are already jittery. In recent days, the UK has come under pressure from bond traders who at one point pushed the yield on 30-year British government bonds to a 26-year high. The additional yield France pays for 10-year debt over Germany rose in November to the highest since 2012 when Europe was engulfed in a sovereign debt crisis.

Trump's Bond Market Problem

 

[SLD]

... and what they might do to the global economy.

The review found several indicators watched by bond traders are flashing red. U.S. federal debt has increased to more than $28 trillion, from less than $20 trillion when Trump took office in 2017. Debt is also piling up in other countries, with the world’s total public debt expected to cross $100 trillion for the first time in 2024, leaving investors nervous.

The review found several indicators watched by bond traders are flashing red. U.S. federal debt has increased to more than $28 trillion, from less than $20 trillion when Trump took office in 2017. Debt is also piling up in other countries, with the world’s total public debt expected to cross $100 trillion for the first time in 2024, leaving investors nervous.

Much rides on how bond markets respond to the Trump administration. A surge in interest rates in the United States – the world's biggest economy and the lynchpin of the global financial system – would send shockwaves globally.
Sovereign debt markets are already jittery. In recent days, the UK has come under pressure from bond traders who at one point pushed the yield on 30-year British government bonds to a 26-year high. The additional yield France pays for 10-year debt over Germany rose in November to the highest since 2012 when Europe was engulfed in a sovereign debt crisis.

Trump's Bond Market Problem

Yeah, continued tax cuts for billionaires is not going to help calm such fears. Trump claimed his tax cuts would increase revenue but they didn’t. While Obama’s deficits were high, they were nothing compared to Trump’s. Biden didn’t reverse the tax cuts, or couldn’t. The deficit spending continued out of control.

It’s sad, because at the turn of the century, people were talking about growing our way completely out of debt. We had a balanced budget and a surplus. Then Bush came along and the deficits soared again because of his tax cuts and rebates. Reagan too railed against deficits and when he came into office blew it up from about 30 billion to over 200 billion.

I do not understand how anyone can continue to believe in Republican economic policies. They just plain suck and always have. Tax cuts for the rich don’t work and that’s all they have.

 

[Elixir]

Tax cuts for the rich don’t work and that’s all they have.

Thanks to SCOTUS, that’s all they need. There are 600 Americans who own so much that they can “outvote” the rest of us. They own MOST of the “disposable income” in the country. They can buy all the airtime they need.
And that doesn’t even include Putin, Bin Laden, Murdoch and who knows what other despots and oligarchs the apricot is indebted to.

 

[ZiprHead]

Bin Laden???

 

[Elixir]

Bin Laden???

Salmon!! My bad.
The murderous Saudi guy that gave Trump’s SIL 2billion bucks for no reason at all.

 

[TV and credit cards]

Bin Laden???

Salmon!! My bad.
The murderous Saudi guy that gave Trump’s SIL 2billion bucks for no reason at all.

This dude?