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We are on the Verge of Economic Catastrophe

 
 
 
Economic rescue of a fascist dunbass who thought he had a cheat code for economic manipulation...

And of course China is getting soybeans from Argentina now, Trump fucked thqt up. He had to give farmers billions in his first term. And the GOP just scratches its ass.
 
Economy lost 32k jobs in September as Trump's tariffs aren't helping. August numbers were reduced to a loss as well.

The funny thing is Trump wants new production built in the US. But what he really wants is 1950s production built. Lots of the new facilities will have a fraction of the jobs that the older places would have had. Everything is built around efficiency these days.

Trump has made building materials cost more as well, which means less building. He added another 10% tariff to lumber. Trump is poisoning our economy. He is driving us into a recession. He's only been in charge for 8 months!
 
Jimmy Higgins said:
Trump is poisoning our economy. He is driving us into a recession. He's only been in charge for 8 months!
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This may or may not be Trump’s intent, but it is definitely Stephen Miller’s intent. Without some restraints in a year, the shithole project will be a runaway train.
WHY NOT destroy the economy? It’s not like that will hurt billionaires. It makes the masses easier to control when they’re desperate and helpless. What’s the point in letting their inferior genes proliferate?
 
While I don't disagree with much of what is said here. I started to worry in February. Though I am wondering when the market is going to come to this realization. Seems everything is hunky dory on Wall St. Still. I can not reconcile these events. Things are out of tune. It's like I went to the orchestra and some dickhead up there is playing jazz.
 
Elixir said:
Jimmy Higgins said:
Trump is poisoning our economy. He is driving us into a recession. He's only been in charge for 8 months!
Click to expand...
This may or may not be Trump’s intent, but it is definitely Stephen Miller’s intent. Without some restraints in a year, the shithole project will be a runaway train.
WHY NOT destroy the economy? It’s not like that will hurt billionaires. It makes the masses easier to control when they’re desperate and helpless. What’s the point in letting their inferior genes proliferate?
Click to expand...
Well, historically, gains in the house and senate correlate with the president's economic performance - a poor economic showing means large democratic gains in the house and senate. But of course with the recent gerrymandering efforts on the part of republicans that may not matter as much. that's why i consider it essential that California and New York gerrymander as quickly as possible - I'm just not sure that they can or will do it. They must if they value our country's future.
 
Jimmy Higgins said:
He's only been in charge for 8 months!
Click to expand...
"There's yer problem"
It took us most of a century to make us great.
He tried to make us great 'again' on day one.
"Move fast, break things" Even if MAGA was right, we will be broken for decades. Not worth it. They should have changed slower. Or not at all.
 
So today gold prices are surging again, going past $4060, and heading towards $4,100. They’re up over 54% YTD, v. 10% for the Dow. The question is why? And the answer is simple: fear. Investors are afraid of the future. They don’t know what Trump is going to do next, or how markets will react. They’re still very unsure of the tariffs and when and if they’ll impact the markets. Rising gold prices don’t always portend a bear market. Market players don’t always get right. But they often do. And the lag is typically 6 months.

I note also a report today that consumer confidence is down. But that was measured before the government shutdown. The government shut down will also drive fear. It’s grating on people already, causing airport delays. While essential services are not shut down, this may not last. Federal workers, even essential ones are not being paid during the shutdown because there is no money to pay them. What happens when the first pay day is reached and ICE agents don’t get their checks? Or VA doctors, or Justice department prosecutors? That’s the middle of the month.
 
SLD said:
What happens when the first pay day is reached and ICE agents don’t get their checks?
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If they balk, Trump will issue another illegal executive order reinstating their pay during the shutdown.
 
Elixir said:
SLD said:
What happens when the first pay day is reached and ICE agents don’t get their checks?
Click to expand...
If they balk, Trump will issue another illegal executive order reinstating their pay during the shutdown.
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And then brag about it like it's an act of personal largesse. President Trump is personally paying their bills this month (with their own tax money just without representation), what a loving and dear leader.
 
Gold reached another record high, $130½ per gram (62XXX in Thailand's gold shops). Silver also scored a record high today, $49½ per ounce.

The S&P-500 set a record high today, the Nasdaq-100 set a record high; the Russell-2000 set a record high, as of course did Nvidia. (The DJIA-30, Nikkei-225, DAX and Bitcoin are all within a few pennies of their recent record highs.)

Of course all these numbers are relative to the U.S. Dollar. Since February 1, the S&P500 is down 3% when measured against the Swiss Franc, down 2% against the Danish Krone, and has moved only 0% vs the Euro.)

The Dollar will not lose dominance easily; there is nothing ready to take its place. But China is now negotiating trade agreements in its own currency, not dollars, and some trades are even being negotiated in gold! With the U.S. using sanctions and expulsion from SWIFT as threats of cutting countries off from their legitimate dollars, many countries are turning their backs on the dollar, and against its fiat-money vassals like the Euro. Just recently the Euro lost its status as the #2 foreign-reserve holding of central banks. The central bank asset now ranked #2 by value is G O L D .

With the long-term value of Western fiat money in doubt it is something of a mystery why yields on 30-year U.S. Treasuries are only 4.72%. Among the reasons: Treasury has been buying back large amounts of its bonds, exchanging them for bills; banks are obligated to buy bonds to retain their coveted insider status; foreign banks have little choice as long as dollar dominance continues.

The future? Uncertain. But it is wrong to treat the meteoric rise in the price of precious metals as an irrational aberration.
 
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