Is it now between Bernie and Bloomberg?

[Bikeman315]

For you, I will not do that again. Not for Bernie, but for you.

Thank you.

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[watisthis]

@Bikeman315 I'll give a quick run down of what I've noticed don't take it as a jab at you or anything -

Our economic growth has been roughly the same rate as it was during Obama's administration. If someone wants to prove me wrong go ahead and find me that fed data.

Trump made investors feel bullish with his tax cuts, awesome it worked. Eventually we're going to hit another down turn, that is just how it is what goes up must come down.

Tell me how prepared we are for that downturn? What has Trump and Congress done to prepare?

Trump has placed unprecedented amount of pressure on the Fed to keep interest rates low despite what any economist will tell you not to do in a healthy economy. He did so in fear that cutting rates would hurt the stock market and his ego. Now when the next downturn hits we won't be able to lower rates to stimulate the economy.

We go into debt during economic downturns to stimulate the economy and limit our recession. On the other hand, when the economy is health those debts are paid down, however, instead of doing that we passed an economic stimulus package in the form of tax cuts. I could go into Mitch mcconnel battling against Obama. When Obama was trying to stimulate the economy in the middle of the last recession. Mitch only cared about making dems look bad at the expense of the American people, seriously this dude is a pos.

Now lets talk about us pulling out of trade agreements and starting trade wars and issuing tariffs. How has that benefited us? Oh, we've spent billions in emergency funds we don't have on farmers since they lost access to extremely important overseas markets, nice.

GDP and stock market have been doing very well for what a decade now, but to say there are no valid reasons to criticize the economy is BS and to believe the corona virus alone is whats going to cause panic is short sighted. Its just the match to our tinderbox.

 

[lacanteen]

Wow, a hat trick of parrot points from Bernie and Liz. I broke my answers down within your quote using blue underline.

Explain to me how insane amounts of income inequality,

Income inequality is a term used by those that want what others have. I wouldn't work for someone that didn't make more money than me. That's how a free market works. Those that take the risk reap the biggest rewards. My name isn't on the $1.5 million expansion we did 7 years ago, nor on the $400K I just spent on hardware upgrades that will yield an additional $800K annual revenue for the next 5 years. In other words, you got jelly on your nose.

high levels of corporate debt,

It's actually called investment and it's at high levels because interest rates are low and the tax rules are business friendly. Where do you think all of the new jobs came from?

high levels of household debt,

Mostly due to low interest rates, some due to recovery from the last crash (2009). Personally, I'm debt free except for my home which I have a 60% equity claim. I came close to bankruptcy in 2011.

overly centralized manufacturing,

It's called doing more with technology. That's how you stay in business. There's little fat in the private sector.

decades of crazy low interest rates,

It's called a free market. How could the banks charge high interest when the government was printing money instead of borrowing. That also causes inflation. Would you buy a house tomorrow at 6%? Not if your current one is at 4%. I bought my first house in 1988 at 11%.

and an uncheck [Sic] bull market, are good for the economy and aren't going to cause a coming recession.

It's checked. It's called the Securities and Exchange Commission (SEC), and Congress.

The economy is a tinderbox waiting for a match.

Rhetoric (nice touch)

Global slowdown and companies already struggling to pay down their debt, smells like bankruptcy.

Bankruptcy happens and happens to many entrepreneurs. That's why the the bigger the risk, the harder the fall too. Manufacturers of buggy whips and oil lanterns went out of business too.

Well, that was fun.

 

[lacanteen]

Trump has yet to have a year under 2%. Obama did have 4 of 8 years over 2%.
@watisthis

 

[watisthis]

=

Wow, a hat trick of parrot points from Bernie and Liz. I broke my answers down within your quote using blue underline.



Well, that was fun.

You made this incredibly hard to refute all of your points in an easy to read manner, zzz.

1: https://inequality.org/facts/income-inequality/ Wealthy aren't taxes nearly what they used to be and minimum wage has been stagnant for years making it an unlivable wage. Literally, the rich get richer and the poor get poorer. Its unsustainable since to keep an economy chugging along you need people to be able to buy good and services you are selling. Do I need to explain to you capitalism and consumption? You can't even acknowledge income inequality as a real term when every economist says it exists, who are you?

2: Most do not have the revenue to pay it back, the distinction is debt vs manageable debt. Many use debt to fund buybacks and dividends. They're basically robbing Peter to make Paul happy, this is a terrible strategy. And we can't just keep cutting the interest rates, and with a recession you then have to worry about a default risk. High corporate levels of debt + no way to cut interest rates further = a huge vulnerability.

3: What happens to the record high household debt when a recession hits and interest rates can't be cut because we've been using that tactic to prop up the economy?

4: Talking about relocation

5, 6: You're missing the point, we don't cut interest rates in a boom, its a tool to stimulate the economy not prop it up. The US gov encouraged banks to keep interest rates low as part of sustaining this growth, which alongside other measures, has left banks more exposed than they should be coming up to a foreseen correction. In an attempt to keep the good times going until election, Trump has added some trillion dollars to the deficit through added spending and tax cuts, which will limit how much the gov will be able to speed the country through the next recession via stimulus.

You miss the mark on understanding our preparedness for an eventual correction which could turn into a recession. Add in how much debt the average household is carrying as a % of income and the fact that many households are only a paycheck or two away from insolvency and you get a really bad recession.

I'm glad you seem to understand how things work but you're looking at this as if bad times will never end and that growth just never stops.

 

[watisthis]

Trump has yet to have a year under 2%. Obama did have 4 of 8 years over 2%.
@watisthis

Yes, roughly the same outside of Obama picking up us from the floor. Not sure if you're trying to make a point or one up me by a 0.02%? The fact is the economy has done well for a decade.

 

[watisthis]

https://www.yardeni.com/pub/peacockfedecbassets.pdf

Central banks repealing qualitative easing and as we decline QE equities get shaky, and companies are still on hold with a buyback blackout window. Luckily, gold is holding strong and I can hedge with some options and futures Hopefully, we can turn this around.

 

[lacanteen]

Looks like the Rev Al "tax cheat" Sharpton is backing Bernie. Hot damn!

https://www.usatoday.com/videos/new...do-not-judge-sanders-socialist-tag/640251000/

 

[Bikeman315]

Looks like the Rev Al "tax cheat" Sharpton is backing Bernie. Hot damn!

https://www.usatoday.com/videos/new...do-not-judge-sanders-socialist-tag/640251000/

I need a couple of Advil.

 

[Docscurlock]

I need a couple of Advil.

Although good news on the immigration front:
https://www.foxnews.com/politics/court-hands-trump-win-in-sanctuary-city-grant

Trump 53 dems 0

 

[lacanteen]

Even CNN is doubtful Bernie could defeat Trump.

https://www.cnn.com/2020/02/26/politics/bernie-sanders-turnout-trump-2020/index.html

 

[lacanteen]

Here's another thought. How many Democrats will refuse to vote for Bernie, if nominated? Will they refuse to vote or vote for Trump?

I know that in the past, if I didn't like either candidate in a contest, I just wouldn't cast a vote on that race, but would complete my ballot for other races and issues. I think this happens more often than not. I speaking about general elections, not primaries.

 

[watisthis]

Even CNN is doubtful Bernie could defeat Trump.

https://www.cnn.com/2020/02/26/politics/bernie-sanders-turnout-trump-2020/index.html

CNN is owned by Time Warner/AT&T, obviously they're going to be bias. Media manufacturing consent, nothing to see here.

 

[Bikeman315]

Even CNN is doubtful Bernie could defeat Trump.

https://www.cnn.com/2020/02/26/politics/bernie-sanders-turnout-trump-2020/index.html

I’ve always been a fan of James Carville. Brings a lot of common sense to his thoughts. I agree with him on Bernie. Increasing the numbers of voters doesn’t guarantee anything. Hell, Hillary won the popular vote, and lost the election.

 

[Bikeman315]

Here's another thought. How many Democrats will refuse to vote for Bernie, if nominated? Will they refuse to vote or vote for Trump?

I know that in the past, if I didn't like either candidate in a contest, I just wouldn't cast a vote on that race, but would complete my ballot for other races and issues. I think this happens more often than not. I speaking about general elections, not primaries.

As an independent this has crossed my mind. At this point I do not know what I will do. Hoping Bernie doesn’t win the nomination so I do not have to make this decision.

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