Winning...the economy under Trump - page 45

Despite the doomsday predictions after the election, the economy is roaring. "The Bureau of Labor Statistics released its newest jobs report on Friday, and the data clearly show, under the... Read More

  1. by   nursej22
    Quote from SC_RNDude
    There has been better news, but "depressing" might be a bit dramatic.
    At least the stock market recovered most of the loss from this morning. I suppose the fact that my main retirement account has lost $80,000 since the beginning of the year is not depressing either.

    Could be worse: I could be a soybean farmer. US China trade war: Soybeans left rotting thanks to lack of storage - Business Insider
  2. by   SC_RNDude
    Quote from nursej22
    At least the stock market recovered most of the loss from this morning. I suppose the fact that my main retirement account has lost $80,000 since the beginning of the year is not depressing either.

    Could be worse: I could be a soybean farmer. US China trade war: Soybeans left rotting thanks to lack of storage - Business Insider
    Losing $80k doesn't tell us much without some context.

    I do know that of this moment the DJIA is still up 1% for the year-to-date.
  3. by   Tweety
    Quote from SC_RNDude
    Losing $80k doesn't tell us much without some context.

    I do know that of this moment the DJIA is still up 1% for the year-to-date.
    Agree. If you have a million then $80,000 isn't a huge loss comparatively.

    1% really couldn't be described anymore as a "winning economy".

    I have one stock portfolio that I rolled over when we got bought out to a private financial firm and it's lost $10K since the beginning of the year. This one is actually up $2K this past month, but $25K down from the peak of Jan 20th 2018 (I do keep records of what it was when I randomly check it). The 401K that I contribute 15% of my salary is up $10,000. 15% of my salary is more than $10K so I lost there too. My rate of return on on 401K year to date is
    -6.43%.
    My big picture for 2018 was I gained no ground towards retirement and lost some. To the average 59 year old person like me that's a bit depressing. 2017 was a great year. 2018, not so much. I don't have all my money in risky stocks and am not gambling it all and have an advisor.

    Looking at the big picture it's not all gloom and doom slit my throat kind of depressing, and there might be signs to be optimistic but right now it is "a bit depressing".

    On a brighter note, gas prices are about $2.05 a gallon which might negatively affect the stock market but helps the average consumer stimulate the economy.
    Last edit by Tweety on Dec 7
  4. by   toomuchbaloney
    Trump's oil producing friends aren't nearly as happy with that ppb for oil. The Alaska pipeline won't get filled when prices per barrel are low, the Arctic development is too expensive.
  5. by   MunoRN
    Quote from SC_RNDude
    There has been better news, but "depressing" might be a bit dramatic.
    I suppose there's a mind-over-matter component to how someone 'feels' about the recent economic findings, but I don't know that "depressing" is all that far off, if not referencing an emotion it may also be an accurate economic term for what direction this all points us in.

    A big part of how the massive deficit that the tax cuts caused were supposed to be offset was the $4 trillion Trump predicted would come from the repatriation of offshore corporate holdings. Critics said it may only bring in half of that amount, as it turns out even the critics were optimistic as it's only likely to bring in about $1 trillion. This would be fine if he had decided base the tax cuts on revenue increases, but instead it's already been spent.

    Another big offset to the revenue losses was supposed to be increases in exports relative to imports, which has not only failed to get better, it's gotten far worse.
  6. by   toomuchbaloney
    Tariff Man
  7. by   Tweety
    Quote from MunoRN
    Another big offset to the revenue losses was supposed to be increases in exports relative to imports, which has not only failed to get better, it's gotten far worse.
    I was interested in this statement and found that indeed the world deficit is at a 10-year high for October.

    According to this chart, it's been a roller coaster of a year with things worsening mid-year.

    United States Balance of Trade | 2�18 | Data | Chart | Calendar | Forecast

    US trade deficit jumps by the most in 3 years
  8. by   SC_RNDude
    Quote from MunoRN
    I suppose there's a mind-over-matter component to how someone 'feels' about the recent economic findings, but I don't know that "depressing" is all that far off, if not referencing an emotion it may also be an accurate economic term for what direction this all points us in.

    A big part of how the massive deficit that the tax cuts caused were supposed to be offset was the $4 trillion Trump predicted would come from the repatriation of offshore corporate holdings. Critics said it may only bring in half of that amount, as it turns out even the critics were optimistic as it's only likely to bring in about $1 trillion. This would be fine if he had decided base the tax cuts on revenue increases, but instead it's already been spent.

    Another big offset to the revenue losses was supposed to be increases in exports relative to imports, which has not only failed to get better, it's gotten far worse.
    I guess "depressing" might be a term for where we are headed. Of course, that was said on election night 2016 as well, and it's been anything but depressing.

    https://www.americanthinker.com/arti...g_economy.html

    I don't know that Trump gave a timeline for the $4 trillion when he said that just a few months ago. A half a trillion is predicted for the year, so $4 trillion in the near future does seem like a stretch. Still, even a trillion dollars isn't insignificant.

    I think it's too early to say whats going to happen with the trade situation. I have my worries, but Trump has turned out to be right many times before when I thought he was wrong.
  9. by   toomuchbaloney
    According to Rex Tillerson, Trump acts upon his "instincts" (what Trump calls his gut) and doesn't really intend to seem impulsive. Tillerson highlighted the danger of this practice by noting that Trump isn't interested in details and doesn't read his briefings. He also noted that a source of friction between the two was the reality that Trump's "instinct" was often toward an illegal action or activity.

    Our current economic policy is based upon the gut feelings of a man who has spent his entire life ignoring rules and laws.
  10. by   Tweety
    Quote from SC_RNDude
    I guess "depressing" might be a term for where we are headed. Of course, that was said on election night 2016 as well, and it's been anything but depressing.
    Somewhere deep in the Donald Trump thread, or the threads leading up to me posting that thread, is me talking about Obama's gift to Trump in handing him a recovering and good economy and most people really wasn't too depressed over the economy on election night. Most people believed the good economic times would last, at least in the short term. In my opinion.

    Prior to him being elected people were saying he was the wrong person to lead the economy. The depression stemmed merely from the fact we live in a country that elected him. Whether or not that depression was justified or if it's "been anything but depressing" since his election is a matter of opinion I suppose.

    It's not for me to decide how people feel, but when the economic news is not good for a while it is depressing. But I am hopeful we'll continue to move ahead, and that we'll get news and job growth.

    November jobs report, December 7, 218
    Last edit by Tweety on Dec 9
  11. by   MunoRN
    Quote from SC_RNDude
    I guess "depressing" might be a term for where we are headed. Of course, that was said on election night 2016 as well, and it's been anything but depressing.

    https://www.americanthinker.com/arti...g_economy.html

    I don't know that Trump gave a timeline for the $4 trillion when he said that just a few months ago. A half a trillion is predicted for the year, so $4 trillion in the near future does seem like a stretch. Still, even a trillion dollars isn't insignificant.

    I think it's too early to say whats going to happen with the trade situation. I have my worries, but Trump has turned out to be right many times before when I thought he was wrong.
    The concerns about what Trump's economic 'policies' could do to the economy never really involved an immediate downturn, and actually you'd expect an initial surge of growth followed by a downturn significantly magnified by these policies.

    It's sort of like if someone decides they're going to do cocaine 24/7, and you tell them that will likely be harmful to them, and then they declare your concerns about 24/7 cocaine use being bad for them to have been false because on day 1 they not only don't feel like their cocaine use is bad for them, they feel better than ever.

    The $4 trillion was Trump's prediction for the repatriation of previous profits held offshore, he defined this timeline as "very shortly" and while it may have made sense for some companies not to use this tax break in the very first quarter it was available, we're now into the timeframe where we've likely seen the vast majority of these one-time filings.
  12. by   nursej22
    My previous comment characterizing serious declines in the markets and my retirement accounts was because I plan to retire in a year or two and I have lost the equivalent of a years worth of income. If I was ten years younger it would be easier to adjust to that type of loss.

    Also, I live in a rural area that depends on agriculture, and I find it sad to read about farmers filing for bankruptcy as a result of the whims and gut feelings of an unscrupulous grifter.

    And no, the tax cut is not going to make up for my retirement account loss. I estimate a tax reduction of $2500 this year.
  13. by   Tweety
    J22, hopefully in a couple of years you can regain that loss. It's horrible right now. When I get within a year or two of retirement though my tolerance for stocks will probably be over. Right now with over 10 years to go I'm still hopeful, but a huge crash like 2008 I probably wouldn't recover from.

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