Another prediction. The gaslighting will begin soon by the 'go-along to get-along' Republicans on the extension of the Trump tax cut. They'll convince you that we need to end the cuts for the middle class in order to reduce the deficit. Taxes will go up, but not all at once, but after three years or so, taxes will be at pre-Trump levels for the middle class. Maria 'Wall-Street bailout queen' Bartiromo and others in the business news media will have guest promoting ending the tax cuts for the middle class because we need to urgently reduce the deficit. The R's response will be 'you better keep us in office, because if you vote a 'D" into office, your taxes will go even higher!' Let's see how Erick handles this one. Will he fight to the bitter end, like he did with the school zone cameras (HB 225) in Georgia? How did that bill turn out? Hint: not well, at least for the fine citizens of the Great State of Georgia. Or will he capitulate and go along with the Republicans? We'll see. Stay tuned.
Well said Erick. I posted a week ago that Trump’s tariff strategy could never recover the damage to main street’s retirement accounts. The stock market pinned the damage at about $9 trillion. The best estimate of tariffs when in force was $2 billion per day in receipts to the gov’t. The reality was closer to $500 million. Factor in a projected hit to GDP growth of almost 1% and Trump’s “advisors” had no choice but tuck their tails anc start backpedaling. Why the hell put everyone through this. The sentiment to level the playing field is likely a good one but implementation of policies to achieve that have to be analyzed carefully. There are 2nd and 3rd order effects to policy decisions that deserve appropriate attention and understanding. Those are not to be played out in public as part of a shock and awe strategy just to see what may or may not work.
Unfortunately, the damage done will not simply be recovered from in the short time it took to cause it. Again, you can agree with the sentiment to level playing fields etc but drop the “bull in the china shop” approach and let the experts that understand all of the effects of policy actions captain that goal.
I thought Erick got it right. Trump’s overall strategy is to bring as much of the industrial base back to the US: to provide jobs to the blue collar men who lost them to globalization and have been left behind as well as reduce our dependency on foreign markets like China. His tactics are to push against and break the norms and retreat when he gets pushback that he realizes will not allow him to accomplish his goals. You can call it gut instincts but he understands the markets and he has people that will reason with him.
This doesn’t mean that there won’t be breakage. What was happening in the US was unsustainable and it needed to be fixed.
Good Morning People the best thing we can do is turn Off social media and the nightly news and let things play out cause all of us little people can’t change it so just keep your faith strong. But on a side note I was thinking how much money it cost us to send all these dems chasing after 1 gang member that got deported OMG have a Great Day and God Bless America
Apparently, Mr. Trump either skipped or has forgotten the Econ 101 class he would have taken at Penn. Any college freshman today taking a business curriculum could have predicted that exactly what happened would happen. If Trump can make an economic mistake this obvious and bone-headed in his first one hundred days, I hate to think what he might have in store for the future and involving even more serious matters, such as global security. The 25th Amendment cannot be exercised soon enough as, unlike Biden, Trump has very few competent people around him who are willing to seize the strings that control Putin's puppet.
In 2020 the DJIA was at 23700, today it's at 39600, yet Trump's tarrifs are the problem at the root of a few 1000 point drops in the market? We built everyone else's market, Marshall Plan to present. In the 80's we adopted 'Free' Trade agreements that sold us all out, and shipped our legacy to cheap production interests in India and China (and everywhere else child slave labor could be used to bolster a globa economy), yet Trump's the problem? Really?
What about us? At what point do I get to stop paying multi-layer taxes? As near as I can calculate, I'm paying close to 60% of my income in taxes in one form or another. When do I see relief from that? I buy American Made and pay more for it, willingly, because it helps the man, and his family, next door. I would buy even more American Made if I had tax relief! We 35 Trillion in debt, we need an economy capable of balancing that, and we shipped it everywhere else!
Now, do you believe I should be buying from China to spite Trump? Or should I be doing it to make Wall Street happy? Either way, I'm continuing to cut my own throat by doing it at all, you know why? Because it's really about DECADES of poor, assymetrical, trade policies that we continue to double down on because we're unwilling to fight or come up with other solutions for.
Yet, my only take away from your article is that Trump is bad for business. Really.
You're comparing two completely different things. Yes, a bunch of bad decisions were made in the past that led us to the current situation, and Trump had nothing to do with that. But also yes, his current "policies" are causing instability and chaos, and will lead to hugely negative effects if not reversed. Luckily, the reversal seems to have started.
Changing decades long and now inarguably bad behavior by all countries isn’t for the faint of heart.
America is so conditioned to instant gratification and an upward moving stock market that any policy changes that upsets this “dream state” must be vilified.
Our economy will no longer support massive monetary deficits and Federal Reserve intervention to manufacture financial happiness.
Giving Trump time to change course was never going to happen. I say let this play out. The alternative is clearly worse.
Here’s the difference between the previous admin and this one. Had the previous admin imposed economic wrecking policies they would have simply ignored critics and stayed the course. Trump at the very least is listening and adjusting. No it wasn’t a part of some grand plan. In business they do this all the time. Take risks and make adjustments as needed. Anyone remember New Coke? And last time I checked the Coca Cola company is still around.
Wait, are you saying that announcing a ridiculous tariff policy only to repeatedly and cowardly walk it back then reintroduce it and retreat again is not part of some master deal making strategy?
Yes, the guy is a good marketer in winning elections though I'd argue his greatest feat was capturing the base of the Republican party vs. beating Hillary or Kamala (he did lose to a vegetable).
From your early reporting on the initial tariff pause, it's clear that you have credible high level sources in the administration so I am sure you are more than aware from the people viewing this sh_t show up close that this guy has no strategy, understanding of economics, work ethic, or clue what the hell he's doing.
Joe’s plan got us where we are today - spend money we don’t have and keep the border wide open. I get what Trump is trying to do, but you can’t make a serious alcoholic quit cold turkey or it will kill them. At his age / experience should’ve shown more wisdom with making the changes that will ultimately have to be done.
I'm with you on the open border, but on the national debt Trump was one of the biggest culprits in exploding it during his last administration - which definitely contributed to the inflation felt under Joe. Also, he has demonstrated no serious attempt to pay down our debt - He is pushing for a huge deficit budget later this year and his tariff plan was only going to worsen the deficit. There is no logical connection between his economic plan and reducing our national debt.
Blair, apparently you have forgotten about COVID toward the end of Trump's first term. He had to implement massive deficit spending to save small businesses, and help us keep our employees, while giving every family extra money to carry them through. Otherwise, there would have been massive unemployment.
Covid was still hapening under Biden and no one on here gave him that excuse so to keep it consistent I will not offer it to Trump either. He was on track to rack up debt well before Covid anyway and his rushed and flawed PPP implementation plus stimulus payments ended up being the biggest boondogle of waste and excess, inflation causing / money printing adventure I have seen in my lifetime.
Saving your company does not mean the program was successful / not an inflation supercharging boondoggle. For an extreme example - a program that paid every business with 1 employee or more a free gift of $5 million dollars would probably of also saved your business but done a lot of damage to our economy. The two outcomes aren't mutually exclusive and just because PPP did some good doesn't mean it wasn't a poorly thought out, poorly executed boondoggle.
And yes, I have founded and run a successful business and am quite familiar with the ins and outs of PPP to be qualified enough in making my assessment.
I’ll give Trump Covid and even Biden. However, the inflation reduction act is when it really got out of control. Both parties are guilty and Chip Roy seems to be the only one who realizes we’re in a heap of trouble if we don’t change our spending ways.
Not disagreeing with any of that but there's a reason inflation was a world wide event hitting all western economies simultaneously. Lots of money thrown at a problem but also supply chain interruptions. Biden/Powell actually did a decent job compared to most other countries getting inflation back under control.
The last administration was led by a half brain dead dementia patient and so far their economic policy was far superior to this sh_t show. The fact that the two performances are even close enough to compare is troubling.
Anyone can talk about economy this or that. Can’t ignore the dems lunacy. I think I know what they are doing. They think the mid terms will be favorable to them, it won’t, but they think that. So they are driving he’s left to shore up their base and hoping moderates and swing voters will see economic issues and vote dem again. But here’s the thing. Even after all this a poll was asked of those who voted for trump would they change their vote. Only 2% said they would have. While the other side it was almost 20%.
The dems have gone too far left and embraced 90-10 causes and gone with the 10%. Like immigration and trans sports and that. Nope. Sorry. I don’t believe for one second the house falls in 26.
The AWFULs and the likes of Whiny Timmy and the mouthy slob Pritzker are the face of the Democrat party. Their embrace of extreme causes is weird and deranged. Most immigrants I know are at least culturally conservative.
Another prediction. The gaslighting will begin soon by the 'go-along to get-along' Republicans on the extension of the Trump tax cut. They'll convince you that we need to end the cuts for the middle class in order to reduce the deficit. Taxes will go up, but not all at once, but after three years or so, taxes will be at pre-Trump levels for the middle class. Maria 'Wall-Street bailout queen' Bartiromo and others in the business news media will have guest promoting ending the tax cuts for the middle class because we need to urgently reduce the deficit. The R's response will be 'you better keep us in office, because if you vote a 'D" into office, your taxes will go even higher!' Let's see how Erick handles this one. Will he fight to the bitter end, like he did with the school zone cameras (HB 225) in Georgia? How did that bill turn out? Hint: not well, at least for the fine citizens of the Great State of Georgia. Or will he capitulate and go along with the Republicans? We'll see. Stay tuned.
Spot on.
Well said Erick. I posted a week ago that Trump’s tariff strategy could never recover the damage to main street’s retirement accounts. The stock market pinned the damage at about $9 trillion. The best estimate of tariffs when in force was $2 billion per day in receipts to the gov’t. The reality was closer to $500 million. Factor in a projected hit to GDP growth of almost 1% and Trump’s “advisors” had no choice but tuck their tails anc start backpedaling. Why the hell put everyone through this. The sentiment to level the playing field is likely a good one but implementation of policies to achieve that have to be analyzed carefully. There are 2nd and 3rd order effects to policy decisions that deserve appropriate attention and understanding. Those are not to be played out in public as part of a shock and awe strategy just to see what may or may not work.
Unfortunately, the damage done will not simply be recovered from in the short time it took to cause it. Again, you can agree with the sentiment to level playing fields etc but drop the “bull in the china shop” approach and let the experts that understand all of the effects of policy actions captain that goal.
I thought Erick got it right. Trump’s overall strategy is to bring as much of the industrial base back to the US: to provide jobs to the blue collar men who lost them to globalization and have been left behind as well as reduce our dependency on foreign markets like China. His tactics are to push against and break the norms and retreat when he gets pushback that he realizes will not allow him to accomplish his goals. You can call it gut instincts but he understands the markets and he has people that will reason with him.
This doesn’t mean that there won’t be breakage. What was happening in the US was unsustainable and it needed to be fixed.
Good Morning People the best thing we can do is turn Off social media and the nightly news and let things play out cause all of us little people can’t change it so just keep your faith strong. But on a side note I was thinking how much money it cost us to send all these dems chasing after 1 gang member that got deported OMG have a Great Day and God Bless America
Apparently, Mr. Trump either skipped or has forgotten the Econ 101 class he would have taken at Penn. Any college freshman today taking a business curriculum could have predicted that exactly what happened would happen. If Trump can make an economic mistake this obvious and bone-headed in his first one hundred days, I hate to think what he might have in store for the future and involving even more serious matters, such as global security. The 25th Amendment cannot be exercised soon enough as, unlike Biden, Trump has very few competent people around him who are willing to seize the strings that control Putin's puppet.
In 2020 the DJIA was at 23700, today it's at 39600, yet Trump's tarrifs are the problem at the root of a few 1000 point drops in the market? We built everyone else's market, Marshall Plan to present. In the 80's we adopted 'Free' Trade agreements that sold us all out, and shipped our legacy to cheap production interests in India and China (and everywhere else child slave labor could be used to bolster a globa economy), yet Trump's the problem? Really?
What about us? At what point do I get to stop paying multi-layer taxes? As near as I can calculate, I'm paying close to 60% of my income in taxes in one form or another. When do I see relief from that? I buy American Made and pay more for it, willingly, because it helps the man, and his family, next door. I would buy even more American Made if I had tax relief! We 35 Trillion in debt, we need an economy capable of balancing that, and we shipped it everywhere else!
Now, do you believe I should be buying from China to spite Trump? Or should I be doing it to make Wall Street happy? Either way, I'm continuing to cut my own throat by doing it at all, you know why? Because it's really about DECADES of poor, assymetrical, trade policies that we continue to double down on because we're unwilling to fight or come up with other solutions for.
Yet, my only take away from your article is that Trump is bad for business. Really.
You're comparing two completely different things. Yes, a bunch of bad decisions were made in the past that led us to the current situation, and Trump had nothing to do with that. But also yes, his current "policies" are causing instability and chaos, and will lead to hugely negative effects if not reversed. Luckily, the reversal seems to have started.
I can definitely relate and get on board with that
Bingo. The root of it all …..
President Trump.
Can we replace some of the President's seal clappers that compromise his inner circle? Thomas Sowell is still alive.
Changing decades long and now inarguably bad behavior by all countries isn’t for the faint of heart.
America is so conditioned to instant gratification and an upward moving stock market that any policy changes that upsets this “dream state” must be vilified.
Our economy will no longer support massive monetary deficits and Federal Reserve intervention to manufacture financial happiness.
Giving Trump time to change course was never going to happen. I say let this play out. The alternative is clearly worse.
Exactly. It's only been 3 months.
Here’s the difference between the previous admin and this one. Had the previous admin imposed economic wrecking policies they would have simply ignored critics and stayed the course. Trump at the very least is listening and adjusting. No it wasn’t a part of some grand plan. In business they do this all the time. Take risks and make adjustments as needed. Anyone remember New Coke? And last time I checked the Coca Cola company is still around.
It's not about WHAT is being done, it's all about WHO is doing it.
The last administration did wreck the economy and everyone on the left ignored it.
Wait, are you saying that announcing a ridiculous tariff policy only to repeatedly and cowardly walk it back then reintroduce it and retreat again is not part of some master deal making strategy?
Yes, the guy is a good marketer in winning elections though I'd argue his greatest feat was capturing the base of the Republican party vs. beating Hillary or Kamala (he did lose to a vegetable).
From your early reporting on the initial tariff pause, it's clear that you have credible high level sources in the administration so I am sure you are more than aware from the people viewing this sh_t show up close that this guy has no strategy, understanding of economics, work ethic, or clue what the hell he's doing.
Joe’s plan got us where we are today - spend money we don’t have and keep the border wide open. I get what Trump is trying to do, but you can’t make a serious alcoholic quit cold turkey or it will kill them. At his age / experience should’ve shown more wisdom with making the changes that will ultimately have to be done.
I'm with you on the open border, but on the national debt Trump was one of the biggest culprits in exploding it during his last administration - which definitely contributed to the inflation felt under Joe. Also, he has demonstrated no serious attempt to pay down our debt - He is pushing for a huge deficit budget later this year and his tariff plan was only going to worsen the deficit. There is no logical connection between his economic plan and reducing our national debt.
Blair, apparently you have forgotten about COVID toward the end of Trump's first term. He had to implement massive deficit spending to save small businesses, and help us keep our employees, while giving every family extra money to carry them through. Otherwise, there would have been massive unemployment.
Covid was still hapening under Biden and no one on here gave him that excuse so to keep it consistent I will not offer it to Trump either. He was on track to rack up debt well before Covid anyway and his rushed and flawed PPP implementation plus stimulus payments ended up being the biggest boondogle of waste and excess, inflation causing / money printing adventure I have seen in my lifetime.
The PPP "boondoggle" saved my company and hundreds of jobs. You obviously do not run a business.
Saving your company does not mean the program was successful / not an inflation supercharging boondoggle. For an extreme example - a program that paid every business with 1 employee or more a free gift of $5 million dollars would probably of also saved your business but done a lot of damage to our economy. The two outcomes aren't mutually exclusive and just because PPP did some good doesn't mean it wasn't a poorly thought out, poorly executed boondoggle.
And yes, I have founded and run a successful business and am quite familiar with the ins and outs of PPP to be qualified enough in making my assessment.
I’ll give Trump Covid and even Biden. However, the inflation reduction act is when it really got out of control. Both parties are guilty and Chip Roy seems to be the only one who realizes we’re in a heap of trouble if we don’t change our spending ways.
Not disagreeing with any of that but there's a reason inflation was a world wide event hitting all western economies simultaneously. Lots of money thrown at a problem but also supply chain interruptions. Biden/Powell actually did a decent job compared to most other countries getting inflation back under control.
He's what was feared: an empty head atop an empty suit
The last administration was led by a half brain dead dementia patient and so far their economic policy was far superior to this sh_t show. The fact that the two performances are even close enough to compare is troubling.
Hands down.
China steals IP. Enemy.
Another day in paradise. That’s all I have to say about that.
I would not live in Colorado and I would not have my children in public schools in Virginia.
The left in this country are blithering idiots.
Anyone can talk about economy this or that. Can’t ignore the dems lunacy. I think I know what they are doing. They think the mid terms will be favorable to them, it won’t, but they think that. So they are driving he’s left to shore up their base and hoping moderates and swing voters will see economic issues and vote dem again. But here’s the thing. Even after all this a poll was asked of those who voted for trump would they change their vote. Only 2% said they would have. While the other side it was almost 20%.
The dems have gone too far left and embraced 90-10 causes and gone with the 10%. Like immigration and trans sports and that. Nope. Sorry. I don’t believe for one second the house falls in 26.
The AWFULs and the likes of Whiny Timmy and the mouthy slob Pritzker are the face of the Democrat party. Their embrace of extreme causes is weird and deranged. Most immigrants I know are at least culturally conservative.