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Recession time

2001400ex
2001400ex Member Posts: 29,457
in Tug Tavern
It's clear Trump gets his economy news from Rush. The best part is, Trump doesn't even understand how the stock market is valued or how unemployment is calculated.

https://www.yahoo.com/news/trumps-prediction-massive-recession-puzzles-economists-000424650--business.html

In an interview with the Washington Post published on Saturday, the billionaire businessman said a combination of high unemployment and an overvalued stock market had set the stage for another economic slump. He put real unemployment above 20 percent.
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  • PurpleJ
    PurpleJ Member Posts: 37,778
    He could be right, but the people quoted in that article would never admit it. Same type of people that kept propping up investor confidence right until the bitter end the last time around. Fuck you are dense.
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  • sarktastic
    sarktastic Member Posts: 9,208
    assisted living ROCKS!
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  • 2001400ex
    2001400ex Member Posts: 29,457
    PurpleJ said:

    He could be right, but the people quoted in that article would never admit it. Same type of people that kept propping up investor confidence right until the bitter end the last time around. Fuck you are dense.

    You don't even understand basic economics either. The comment from me isn't about whether we are going into a recession (I think we are going into one in the next year or two, but not for the reasons Trump stated).

    Trump also doesn't get that 70% of the economy is driven by consumer spending, which underneath that is consumer confidence.

    Let me ask you something J. Serious question. When the president says the stock market is overinflated, we have 20% unemployment, and we are headed towards a massive recession, what happens to consumer confidence?
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  • PurpleJ
    PurpleJ Member Posts: 37,778
    Why are you making my point for me?
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  • sarktastic
    sarktastic Member Posts: 9,208
    Real consumer spending is in a downward trend... oops.

    Fed sayz: stagflation is what the cool kids talk about now.
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  • 2001400ex
    2001400ex Member Posts: 29,457
    PurpleJ said:

    Why are you making my point for me?

    Why do you ignore reality yet pretend to know what you are talking about?
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  • 2001400ex
    2001400ex Member Posts: 29,457
    sarktastic said:

    Real consumer spending is in a downward trend... oops.

    Fed sayz: stagflation is what the cool kids talk about now.

    The best part is, you clearly don't know what stagflation is.
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  • PurpleJ
    PurpleJ Member Posts: 37,778
    The Democratic National Committee criticized Trump for his remarks, saying they "undermine our economy."

    Yeah no shit.
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  • 2001400ex
    2001400ex Member Posts: 29,457
    PurpleJ said:

    The Democratic National Committee criticized Trump for his remarks, saying they "undermine our economy."

    Yeah no shit.

    Ho Lee shit J. We do agree.
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  • Southerndawg
    Southerndawg Member, Swaye's Wigwam Posts: 8,358 Founders Club
    sarktastic said:

    Real consumer spending is in a downward trend... oops.

    Fed sayz: stagflation is what the cool kids talk about now.

    Been there, done that, now were doing it again. Reagan/Volcker fixed it last time around, unfortunately there are no Ronald Reagan's running for president, and the dip shit running the fed is the classic PC/affirmative action hire, absolutely no Volcker. We're fucked.
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