That is a fine mess Trumpy is making of the US economy!

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That is a fine mess Trumpy is making of the US economy!

Postby HBS Guy » 01 Nov 2019, 22:44

https://www.smh.com.au/business/banking-and-finance/powell-s-crucial-speech-to-signal-whether-fed-fears-slide-into-recession-20191028-p534wr.html

Discusses mainly interest rate cuts der Trhere and in the US but the summary of the US economy under Trumpy and his trade war with China are not flattering! And the global economy is suffering from the trade war.

It seems Trumpy may impose tariffs on Euro cars next!

Simple truth is, when a country imposes tariffs on imports it is the citizens of that country that pay the tariff, not the country exporting the products. The exporting country will likely see a decline in the volume of exports to the country imposing the tariffs.
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Re: That is a fine mess Trumpy is making of the US economy!

Postby Bongalong » 02 Nov 2019, 08:29

?
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Re: That is a fine mess Trumpy is making of the US economy!

Postby HBS Guy » 02 Nov 2019, 12:42

Read the link, DRAH.
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Re: That is a fine mess Trumpy is making of the US economy!

Postby Bongalong » 02 Nov 2019, 21:49

HBS Guy wrote:Read the link, DRAH.

Bullshit Han Mann!
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Re: That is a fine mess Trumpy is making of the US economy!

Postby HBS Guy » 03 Nov 2019, 00:21

No, Trumpy is making a mess. That is what I always expected him to do.
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Re: That is a fine mess Trumpy is making of the US economy!

Postby johnsmith » 03 Nov 2019, 11:49

and when it goes to shit in a basket and then the democrats win office, the thrumpards will blame them for everything.
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Re: That is a fine mess Trumpy is making of the US economy!

Postby Bongalong » 07 Nov 2019, 15:16

You're both full of shite! :yak yak
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Re: That is a fine mess Trumpy is making of the US economy!

Postby HBS Guy » 07 Nov 2019, 18:49

No, I don’t think so. If Trumpy widens his trade war the global economy will crash too—and our economy is already shrinking under our idiot neoLib shambles.
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Re: That is a fine mess Trumpy is making of the US economy!

Postby DonDeeHippy » 09 Nov 2019, 05:41

HBS Guy wrote:No, I don’t think so. If Trumpy widens his trade war the global economy will crash too—and our economy is already shrinking under our idiot neoLib shambles.

I don't think the USA has that much influence on the world market anymore, sure it will stir things up a bit, but if India and China (could easy become one country as they share borders) decided to do trade wars THEN the global economy would be in trouble..... :purple
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Re: That is a fine mess Trumpy is making of the US economy!

Postby HBS Guy » 09 Nov 2019, 08:35

We will see.
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Re: That is a fine mess Trumpy is making of the US economy!

Postby DonDeeHippy » 11 Nov 2019, 05:16

Now that china is more and more direct trading with countries instead of Using US dollars, The relevancy of the USA is decreasing, the Euro also is eroding the USA's global hold, If India also starts to direct trade with countries then the USA will become insignificant... as it is , China are our biggest trade partners and in Chinese currency. If USA goes down the drain or implodes up their own bumhole if will effect us but our main Money earner China will remain our bread and butter... :purple
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Re: That is a fine mess Trumpy is making of the US economy!

Postby HBS Guy » 11 Nov 2019, 19:17

USA is still the biggest economy, it goes down the gurgler we will too.
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Re: That is a fine mess Trumpy is making of the US economy!

Postby DonDeeHippy » 12 Nov 2019, 07:28

https://www.thebalance.com/world-s-larg ... my-3306044



Updated November 04, 2019
In 2018, China was the world's largest economy for the fourth year in a row. It produced $25.3 trillion in economic output according to estimates by the International Monetary Fund. It contributed 19% of the world's total gross domestic product of $135.2 trillion.1

The European Union was in second place, generating $22 trillion. Together, China and the EU generate 35% of the world's economic output.

The United States remained in third place, producing $20.5 trillion. The world's three largest economies combined produced 50% of the world's total economy.

No other economy is even close to any of these three. The fourth-largest economy was India, producing $10.4 trillion. Japan was fifth, at $5.6 trillion. Germany, the strongest country in the EU, produced $4.4 trillion.2

These measurements use purchasing power parity to account for exchange rate changes over time. It also adjusts for government rate manipulation.



Don't start swapping U.S. dollars for Chinese yuan and learning Mandarin yet. These three figures are very close. China's economy is slowing as its leaders attempt to head off an asset bubble through reform. So it's unlikely that the yuan could replace the dollar as the world's reserve currency anytime soon. The dollar is buoyed by the power of the U.S. economy.

Second, it's important to understand how GDP measures a country's economy. GDP has four components: output by households, government, business investment, as well as net exports (exports minus imports).3

The output measured by GDP equals spending, so it takes into account the cost of living. That's why it doesn't cost as much to buy, say, a Big Mac in China as in the United States. The Economist's Big Mac Index reveals what a Big Mac costs in 48 countries.

Outlook
The IMF estimates the world's economy for each year until 2023. By then, the global economy will have grown 31% to $177.4 trillion. China's GDP will increase by 47% to $37.2 trillion. The EU and the United States will each increase 20% since their economies are already fully developed. India is expected to grow 59% while Japan will only increase by 13%.



Every year the USA goes backwards in global influence, for us especially so since we are trading more and more with our neighbours…..

If USA does go down though we better bring Labor back so we can all get another $1000 :purple
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Re: That is a fine mess Trumpy is making of the US economy!

Postby HBS Guy » 12 Nov 2019, 08:07

Whereas the Libs not raising NewStart, reversing penalty rate cuts and other neolib idiocies is doing such a wonderful job that the economy is slowing sharply to a halt.
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Re: That is a fine mess Trumpy is making of the US economy!

Postby johnsmith » 12 Nov 2019, 18:10

Rumblings of Recession Get Louder
With U.S. manufacturing taking its worst hit since the Great Recession, signs of a global economic downturn are everywhere.


What appeared as distant rumblings of economic trouble have in recent weeks turned into a stampede, with most major indicators pointing to a generalized, global economic slowdown. Most recently, the key U.S. manufacturing index hit its lowest point in more than a decade, a sign of how U.S. President Donald Trump’s trade wars have become a self-inflicted wound that threatens to send the economy into a tailspin just in time for his reelection campaign.

The Trump administration likes to boast about the strength of the U.S. economy—one of the few successes the administration has arguably had in nearly three years in office—given near record-low levels of unemployment, steady GDP growth, and a buoyant stock market. In reality, Trump’s concerted effort to turn back globalization, upend global supply chains, and levy tariffs on almost all major trading partners has sown uncertainty throughout the U.S. and global economies, with disastrous consequences for the manufacturing workers and farmers who helped vote him into office.

“There is a global slowdown in manufacturing, and I do think it’s related to Trump’s war on trade,” said Richard Baldwin, a professor of international economics at the Graduate Institute in Geneva. “It’s not just an issue between the U.S. and China, but between the U.S. and Europe, between the U.S. and its NAFTA partners, and between the U.S. and Japan as well.”

Trump administration officials such as White House economic advisor Larry Kudlow blame the media for talking up a recession, but in reality it’s manufacturers who are talking about falling orders—especially for exports—and bulging warehouses, sending the U.S. purchasing managers’ index to its lowest level since the depths of the Great Recession a decade ago. Of the 18 manufacturing sectors tracked by the index, 15 showed contraction in the latest survey; in some sectors, such as metal firms hammered by Trump’s tariffs on steel and aluminum, bankruptcies have begun. Farm bankruptcies, collateral damage from Trump’s trade war with China, have been rising for a year.

Trump has taken to blaming the Federal Reserve and the expanding impeachment probe for the bad manufacturing numbers and recent stock market declines, even though most businesses and investors have made clear the problem is Trump’s own economic policies. On Friday, the jobs report showed fewer new jobs in September than expected, compounding a three-month stretch that is the most sluggish since 2012, even though the unemployment rate remains extremely low.

But the malaise isn’t limited to the United States. Almost every developed economy and many emerging economies are feeling the pain. The eurozone manufacturing index reached its own seven-year low—with Germany, Europe’s biggest economy, hit hardest—leading to falling manufacturing employment. Economists fear the manufacturing slump will bleed into larger sectors of the economy, namely services.

The latest data for big Asian economies such as Japan and India also shows contracting manufacturing sectors—both victims of gnawing uncertainty thanks to trade tensions. And China, the world’s second-largest economy, posted its slowest growth in almost three decades in the second quarter, and it is watching exports decline despite a cheap currency. The World Trade Organization just downgraded its growth expectations for this year and next due to the wave of protectionism sweeping the globe.

“Manufacturing in the global economy, and especially in advanced economies, is less important to overall GDP and employment than it used to be, and so the potential spillover to the rest of the economy and consumer spending is not as serious as it was,” Baldwin said. “But the slowdown in manufacturing is for real, and it is hitting all the main manufacturing countries—the United States, Germany, Japan, and China.”

But the global economic turmoil isn’t just found on the factory floor. Consumer confidence across developed economies is falling, though it’s still far above the levels seen during the last recession. The sluggish economy means less demand for oil—the International Energy Agency may further cut its expectations for growth in oil demand—which in turn is putting the hurt on producers from Saudi Arabia to Iran to Texas. This week, another important U.S. index measuring the strength of the services sector fell to its lowest level in three years, a sign that the manufacturing slump may be weighing on the bulk of the economy.

And there are still other warning signs of trouble. U.S. corporate debt is at its highest levels relative to GDP in history, even as earnings are weakening, making it harder to pay off loans and stay solvent; hard-hit retailers are increasingly going broke in what Bloomberg calls a “retail apocalypse.”

Why is everything apparently going south? On the one hand, it’s been a decade since the trough of the last recession, with the economic expansion in the United States particularly long-lived. Cyclically, what goes up must come down at some point, and that explains some of the weakening in global output and demand.





I'm sure dreamrider will be along shortly to tell us how great thrumpy is doing :rofl :rofl
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