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President Trump: The NEW one and only politics thread

Discussion in 'Sports and News' started by Moderator1, Nov 12, 2016.

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  1. outofplace

    outofplace Well-Known Member

    We know one thing. President Trump is going to claim victory and pat himself on the back no matter what the numbers look like. Wait, you mean more people were working in May as parts of the country started opening back up? How did that happen? It certainly wasn't anything President Trump did.
     
    outofplace, Jun 5, 2020
    #177001
    HanSenSE likes this.
  2. garrow

    garrow Well-Known Member

    Summertime and the prez's so sleazy
    And McConnell on the microphone with Lindsey
    All the people on Fox will agree
    That Trump's well qualified to represent you and me
    Me, me and Bernie run to the party
    Dance to the rhythm it gets harder
    US and president we got an abusive relationship
    We love the country but he treats us like...
    White House lock down like a penitentiary
    He spreads his hate all over
    And when he gets goes golfing, there's plenty left for the country
     
    garrow, Jun 5, 2020
    #177002
    OscarMadison likes this.
  3. Inky_Wretch

    Inky_Wretch Well-Known Member

    But permanent job losses is at 1m.
     
    Inky_Wretch, Jun 5, 2020
    #177003
    Neutral Corner and MileHigh like this.
  4. OscarMadison

    OscarMadison Well-Known Member

    Whoever observed that Trump tweets like a thirteen-year-old girl nailed it.

    Oh, lord! Joe! SHUT UP! Let Michael Keegan Key speak for you. PLEASE!

    This shouldn't make a ripple. I'm already seeing people who should know better talk about how Biden has to earn their vote. Really? Four more years of what we have now is preferable?

    Trump holding that bible reminded me of the old ALA Read poster of Britney Spears. She held a copy of one of the Harry Potter books in front of her crotch like she wasn't sure what to do with it.
     
    OscarMadison, Jun 5, 2020
    #177004
    garrow and HanSenSE like this.
  5. HanSenSE

    HanSenSE Well-Known Member

    This is what I am curious about: 2.4M new jobs, or jobs that were put on pause during SIP and now open again.
     
    HanSenSE, Jun 5, 2020
    #177005
    Inky_Wretch, Spartan Squad and Neutral Corner like this.
  6. DanielSimpsonDay

    DanielSimpsonDay Well-Known Member

     
    DanielSimpsonDay, Jun 5, 2020
    #177006
    Donny in his element, Fred siegle and HanSenSE like this.
  7. The Big Ragu

    The Big Ragu Moderator Staff Member

    This is the farce of it. Even if those numbers are an accurate reflection of the job market, and they are not, when you net it out, it shows that 2.7 million people who were furloughed have been brought back to their jobs. This on the back of government programs subsidizing businesses to keep people on the payroll until the fall, whether there is revenue or not. Most of the people throwing out their 20 percent estimates thought that what we are seeing was going to happen a month from now, when it was assumed some of the "reopening" we saw sooner than predicted would happen. It's the easy lifting, and doesn't address how damaged our economy is.

    At the same time, the number of people who permanently have lost their job increased during the month. Almost 300,000 more people, making the total number of people 2.3 million so far.

    You'd never know it listening to the nonsense on TV right now, though.

    It's good news compared to what was expected. It's good news that everyone was expecting a month from now, so it's not the complete shocker the 2-minute news digests are suggesting. And taken for what it is, without any narrative, it is pretty bad news. The U3 unemployment rate, which doesn't even accurately tell you what the much higher actual number of unemployed people is, is about 40 percent higher than it was at its worst during the great recession.

    I really am missing something. It's always like bizzaro world to me.

    As for equity markets, which people are focusing on, it's entirely central bank driven. The amount of liquidity -- instant leverage -- they have pumped in, is insane. It's why companies that have drastically reduced revenues, are losing money, are facing a ton of uncertainty and are drowning in debt, are seeing their stock prices rise. It doesn't matter, because the Fed and the ECB and BOJ have made it clear that they will create unlimited credit, even for bankrupt companies, to make sure that nothing ever fails again. I think it's ridiculous, and the harm they have done to all of us is off the charts. Regardless, if you own any of the equity indexes right now, you are betting on moral hazard. If you are investor and you are doing that, you are probabaly clueless about what I am talking about. If you are a trader doing it -- don't fight the Fed -- you are betting that when the dam breaks you are going to be able to get out and not be the guy holding the bag. I understand the traders. I feel sorry for a lot of the investors, because they are ordinary people just trying to save and are going to be the collateral damage from this.
     
    The Big Ragu, Jun 5, 2020
    #177007
    OscarMadison and Inky_Wretch like this.
  8. The Big Ragu

    The Big Ragu Moderator Staff Member

    One other thing about the jobs number. Anyone want to take an over / under bet on a revision (that someone is hoping gets buried in a report that shows an improving situation) next month?
     
    The Big Ragu, Jun 5, 2020
    #177008
    Neutral Corner likes this.
  9. Michael_ Gee

    Michael_ Gee Well-Known Member

    The leading sector in "job creation" was health care, and its leading sector was dentist's offices. Those were sectors where unemployment was obviously 100 percent driven by the virus shutdowns. Dentists didn't all just go broke. If they opened their offices in May for emergency procedures only, they, their assistants and office managers would still be counted as employed. My echocardiogram I get every two years was supposed to be in March. Now it's on June 17. The technician who does that procedure in employed again as far as the BLS is concerned, but in the minds of most of us, including her I'm sure, she was more on hiatus than unemployed. Ragu's right. That's the low hanging fruit on the job market. It's good those folks are back to work, but it's a reminder that this is not a normal economic situation, and therefore economic statistics are gonna be abnormal as well.
     
    Michael_ Gee, Jun 5, 2020
    #177009
  10. Patchen

    Patchen Well-Known Member

    Bad look for Biden, largely because people still hold him to a high standard and believe him to be rational and kind.

    No one has that standard for Trump. He has somehow protected himself by being insulting and moronic all the time. He clearly thinks large percentages of people are horrible and worthless and proudly says it often.
     
    Patchen, Jun 5, 2020
    #177010
  11. Michael_ Gee

    Michael_ Gee Well-Known Member

    You can be as kind and rational as is possible and still quite accurately think 10-15 percent of human beings just suck.
     
    Michael_ Gee, Jun 5, 2020
    #177011
    Fred siegle, OscarMadison and Inky_Wretch like this.
  12. goalmouth

    goalmouth Well-Known Member

    Can't understand neo-con Trump.
     
    goalmouth, Jun 5, 2020
    #177012
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