The great economic run is over. It's downhill from here on out.

(Nick Gromicko, CMI) #1

You heard it here first.

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(Michael Larson, WI Lic. # 1672-106) #2

Come on Nick, making “predictions” when we have already noticed a world wide economic slow down is silly like you gold prediction.

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(John Olson) #3

Socialism Trumps Capitalism. Get ready. Careful what you liberals wish for, nothing is free.

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(Kevin M. Leonard, CMI) #4

Although many signs are pointing in that direction, if Trump doesn’t move forward with his idiotic tariffs, and announces he made some deal, whether he did or not but as a face saving matter, then we should be able to coast for another year or so, if he decides to move forward with tariffs, all bets are off.

It seems other world leaders have finally figured out what most Americans have known for some time, that Trump is a con, a liar, and a cheat.

Let’s hope the self proclaimed “stable genius” has finally figured out that NO ONE ever wins in a trade war.

Trump Caves: Barclays Thinks U.S. Will Remove China Tariffs
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(Nick Gromicko, CMI) #5

Not a worldwide slowdown Michael. I meant the U.S. economy.

Too much government debt: Spending trillions invading the wrong countries killed us. The fed had to print so much money to cover those costs. It’s just not mathematically possible to recover at this point.

Too much regulation: I started a new company last month with only a couple part-time employees in other states and the paperwork was ridiculous.

Too much consumer debt: Car loans, student loans, credit cards. Americans have no savings or net worth.

It’s all coming to a head starting now.

It might actually be good for home inspectors though as moving to change jobs and selling homes is good for our industry.

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(Nick Gromicko, CMI) #6

Kevin is correct about the tariffs. Trump did well, but that was one of his 3 big mistakes.

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(Nick Gromicko, CMI) #7

Let’s say, just for fun, that Trump is correct. That this is a great economy. Well if in a “great economy” we can’t even pay down debt (government or consumer) and can’t unwind quantitative easing (interest rates still really low) what happens in a slower economy? We’re dead.

Tariffs are a tax on the American people for goods that they want and need. We need to start calling it for what it is: Trumps “tariff” taxes on the poor and middle class.

The only reason we had a decent standard of living is because the Chinese were stupid enough to take their natural resources and labor, create awesome products for us, and ship them to us in huge Chinese shipping containers in return for silly pieces of paper. They then took those pieces of paper and loaned them back to us by buying our treasuries.

I’ve explained all last year that we need to INCREASE the trade deficit, not decrease it. Buy everything the Chinese are willing to ship us if they are stupid enough to accept paper that is becoming more and more worthless every day. Instead, Trump taxed Americans and ruined the gig. Gig is up. No way are the Chinese going to be stupid forever.

Our bubble economy fueled by goofy Chinese who were willing to ship us real goods in return for paper, by countries stupid enough to keep lending us money, and by a Federal Reserve that printed and printed… was awesome. It was a great run. But now the bubble popped.

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(Michael Larson, WI Lic. # 1672-106) #8

If the slow down continues we will likely be affected.

Its pretty simple stuff.

The tariffs are intended to be temporary until more fair deals are reached.

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(Nick Gromicko, CMI) #9

LOL.

“Hey China, until you are fair to us I’m going to tax my own people, so you’d better hurry up.”

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(Michael Larson, WI Lic. # 1672-106) #10

LOL

Hey China, do you want to feed your people?

Stop stealing from us.

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(Michael Larson, WI Lic. # 1672-106) #11

Hey China, shut down the Fentanyl labs and kill those who are killing Americans.

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(Michael Larson, WI Lic. # 1672-106) #12

Hey China, you know those treasury bonds you buy from us?

How about e pile them on the White House lawn and have a nice bonfire?

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(Nick Gromicko, CMI) #13

You’re right about the food. That’s about the only thing we have on them. They could nuke us financially by dumping the dollar and crashing it in one day.

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(Michael Larson, WI Lic. # 1672-106) #14

China doesn’t innovate, they steal intellectual property.

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(Nick Gromicko, CMI) #15

Much like Apple and Microsoft stole from Xerox. Who cares if they steal intellectual property, they build the stuff we want… well, they used to anyway. Now their going to build the stuff they want. Tariff war backfired.

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(Nick Gromicko, CMI) #16

Fed concurred with me today, a little late, but even they admit I’m right.

Here comes stagflation.

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(Kevin M. Leonard, CMI) #17

The sugar high from the 2 trillion dollar tax cut/giveaway to the top 1% is starting to wear off.

This Is The End Of Trump’s Economic Sugar High

Yet we’re still dealing with these “broken promises”.

(https://www.bloomberg.com/news/articles/2019-03-05/u-s-budget-deficit-widens-77-percent-as-revenue-declines)

Farmer Bankruptcies on the Rise

Trump vowed to end ‘chronic trade deficits.’ Well, trade deficits just hit a record high.

(https://www.wsj.com/articles/december-2018-trade-data-from-u-s-commerce-department-11551877494)

Backfire Economics: Double-digit increases in US steel prices to the highest in the world are crippling US manufacturers

So once again we see that the Republicans have no clue how to run the economy.

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(Nick Gromicko, CMI) #18

First off, it was the top 10%.
Secondly, the top 10% income earners pay nearly all the federal income taxes for the rest of us. The top 10 percent of income earners, those having an adjusted gross income over $138,031, pay 70.6 percent of federal income taxes. They deserved a tax cut. It’s so unfair that 10% do all the heavy pushing while half the entire country’s combined federal income tax = $0.

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(Kevin M. Leonard, CMI) #19

If you say so Nick. :roll:

And don’t forget corporate taxes.
Amazon made over $11,000,000,000 in PROFIT yet paid NO taxes.

IMO no one deserves a tax cut until the debt is paid off. Instead the Rs give huge tax breaks to the top 1 percent, while the rest get crumbs, which by the way, the rest will lose by 2026, this as they increase spending.

Republicans don’t know how to run the economy, this has been proven time & time again.

A Year After the Middle Class Tax Cut, the Rich Are Winning

The Republican tax bill got worse: now the top 1% gets 83% of the gains

Some of America’s biggest companies paid little to no federal income tax in 2018

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(Kevin M. Leonard, CMI) #20

America’s 1% hasn’t had this much wealth since just before the Great Depression

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