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outandabout
Contributor ○

The economy is broken per Bloomberg

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29 Replies
Mozart622
Participant ○

Re: The economy is broken per Bloomberg

How could you possibly consider that obvious campaign speech as not intending to be political?  It is a naked attack on President Trump. 

Bentley
Contributor ○○○

Re: The economy is broken per Bloomberg

One politician bashing another and it’s not political? Com,on man.

Intruder
Contributor ○○

Re: The economy is broken per Bloomberg

In his drive to bash Trumps success with tax reform, New NAFTA, deregulation, reduction of unemployment to 3.5%, lowest in rate in 50 years, annual GDP growth of 2.2-2.5%, median middle class income of 65k, highest in history, the best Bloomberg can do is propose spending $100B on undefined R &D ? The guy is a loser and everyone Knows that he only spending 300M+ of his 50B fortune in a campaign to discredit trump. Bloomberg has dropped out of every one of the previous 3 presidential races he has entered because voters don’t like him and he will never make his tax return public. 

where 
is Bloomberg’s constituency? 

 

outandabout
Contributor ○

Re: The economy is broken per Bloomberg

After reflecting on it, I realize I made a mistake by posting it. Sorry.

norbertc
Contributor ○○○

Re: The economy is broken per Bloomberg


@outandabout wrote:

After reflecting on it, I realize I made a mistake by posting it. Sorry.


Yup!

ElLobo
Participant ○○○

Re: The economy is broken per Bloomberg


@outandabout wrote:

After reflecting on it, I realize I made a mistake by posting it. Sorry.


It was light reading, finding out what he means by a 'broken economy'!

Quite frankly, it's kind of funny to see all the money spent by him and the other bozos to try to take Trump down, along with the breathless daily reporting on those sums, along with the polls, even on Fox News!

outandabout
Contributor ○

Re: The economy is broken per Bloomberg


@ElLobo wrote:

@outandabout wrote:

After reflecting on it, I realize I made a mistake by posting it. Sorry.


It was light reading, finding out what he means by a 'broken economy'!

Yup, but it was my mistake to post it.

Norbert has been there, done that too. I really miss Norbert's views on worldwide politics.

Best to all


 

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Sunshine
Follower ○○

Re: The economy is broken per Bloomberg

I heard Peter Navarro (Trump economic adviser and Director of Trade and Manufacturing Policy) yesterday.  When asked about why wages have not been growing, he replied that the lower paying jobs had greater wage growth than the higher end paying jobs and this was an example of how Trump policies have helped the worker.  HOWEVER, I would point out that the reason low end jobs have had wage growth is perhaps because many States are raising the minimum wage and not because of any Trump policy.  It comes down to understanding the true dynamics of an economy.  And regarding the stock market highs, this is generally attributed to the tax cuts (companies have higher profits) and not because of any organic growth.  Growth is driven by increases in population and/or productivity - what policies support that?

 

 

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CarlosDS
Participant ○○

Re: The economy is broken per Bloomberg


@Sunshine wrote:

I heard Peter Navarro (Trump economic adviser and Director of Trade and Manufacturing Policy) yesterday.  When asked about why wages have not been growing, he replied that the lower paying jobs had greater wage growth than the higher end paying jobs and this was an example of how Trump policies have helped the worker.  HOWEVER, I would point out that the reason low end jobs have had wage growth is perhaps because many States are raising the minimum wage and not because of any Trump policy.  It comes down to understanding the true dynamics of an economy.  And regarding the stock market highs, this is generally attributed to the tax cuts (companies have higher profits) and not because of any organic growth.  Growth is driven by increases in population and/or productivity - what policies support that?

 

 


+1

Unfortunately, the latest tax cut favoring corporations did not produce new that new investments that was supposed to do and as a result the economy keeps growing at similar rates that before the legislation passed but now with a whole in budget. The famous 4% growth turned out to be other unfulfilled promised.   

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Gary1952
Contributor ○○○

Re: The economy is broken per Bloomberg

I am doing just fine so enough said. So are the 1/2 of the citizens that own equities.

If Bloomberg thinks things are not right pick 1000 unemployed folks and pay them for doing nothing. I am sure he could afford that. Just what his contemporaries are pushing.

What a joke of a campaign speech.


 

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arriba
Participant ○○○

Re: The economy is broken per Bloomberg


@Gary1952 wrote:

I am doing just fine so enough said. So are the 1/2 of the citizens that own equities.

If Bloomberg thinks things are not right pick 1000 unemployed folks and pay them for doing nothing. I am sure he could afford that. Just what his contemporaries are pushing.

What a joke of a campaign speech.


 


You think that campaign speech was joke?  Here's a proverbial side-splitter.

https://www.yahoo.com/news/ap-fact-check-trumps-distortions-145334975.html

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DJANG0
Explorer ○○

Re: The economy is broken per Bloomberg

Give the guy some credit...he saved NYC from Big Gulps.

Gary1952
Contributor ○○○

Re: The economy is broken per Bloomberg

The economy wasn't broken when he made his billions. But now that he needs to protect his billions from Sanders et al, it's broken. Pure pandering.

Intruder
Contributor ○○

Re: The economy is broken per Bloomberg


@DJANG0 wrote:

Give the guy some credit...he saved NYC from Big Gulps.


And Bloomberg turned stop and frisk in into a profit center for NYC tax department. When Rudy became Mayor in 1994 he authorized stop-frisk to incarcerate  criminals who had outstanding arrest warrants pending that the prior Mayor would not authorize overtime for, jumped bail or not shown up for court appearances and to take away the illegal guns they were carrying which reduced the crime and murder rates. After Bloomberg became mayor in 2002 he expanded S-F to minor crimes such as possessing/smoking pot, drinking beer in public, blocking sidewalks, not paying subway fares and yes jay walking, because they increased fines collected by the courts. The number of stops ballooned from 97K in 2002 to a peak of 685k in 2011.

Cops were given quotas of S-F stops to make each month and number of tickets to write. 90% of those stopped for  S-F were minorities and there were no convictions in 87.6% of the stops between 2002-13.  

Deblasio ended S-Fwhen he became mayor to fulfill a campaign promise and prosecutors dismissed all arrests .

Bloomberg will never be nominated for president by Dems because the progressives and minority groups will never forgive him for his S-F policy.

johnjtaylor
Explorer ○○

Re: The economy is broken per Bloomberg

 

Isn't low-end wage growth held down by illegal alien workers such as Bloomberg welcomed?

norbertc
Contributor ○○○

Re: The economy is broken per Bloomberg


@johnjtaylor wrote:

 

Isn't low-end wage growth held down by illegal alien workers such as Bloomberg welcomed?


Bingo!

Plus, there's "free trade" with China, which undercuts our prices using government subsidies and cheap labor.  That forces US companies to move operations overseas and puts massive pressure on low-end domestic wage growth.

I guess Bloomberg forgot these pesky details.  Not part of the "It's Trump's fault!" narrative?

N.

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richardsok
Participant ○

Re: The economy is broken per Bloomberg

Out&about:

Your OP was NOT a mistake.     Post anything you dern well please.    

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Sunshine
Follower ○○

Re: The economy is broken per Bloomberg

As a retiree I am selling stocks at these highs - that is fortunate for me.  However, for those saving for retirement - these are high prices to be buying, and there is a downturn out there of course - there is a "reversion to the mean" to think about and how long it will last.  Failing to think long term will cost.

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Sunshine
Follower ○○

Re: The economy is broken per Bloomberg

Not quite accurate. 

1) American companies sent those jobs overseas because it was cheaper to produce the product - and Americans don't want to pay higher price or can't afford to pay higher price. 

2) Price goes up and then demand goes down so the total profit depends on quantity sold.  If profit doesn't go up, stock price doesn't either. 

3)The plan was to send low paying jobs abroad and then keep the high paying jobs in the US - but it didn't work out that way.  One reason being that customer wanted production close by - so international markets (which offer growth to company when domestic markets are saturated) imposed having good paying jobs (like engineer designing the product) close by.  Interesting enough, those other countries grew enough and ALSO OUTSOURCE those lower paying jobs

4) Apart from making prices go up if those jobs come back to the US (or US wages go down?), there is automation SO NO JOBS ANYWAY.  In fact forward thinking planners know the risk of job shortages in the future given the impact of automation.  This will impact job levels at many levels of sophistication.  I personally think a robot will do a better job than my doctor who spends five seconds with me and only reads the test results. 

5) The idea behind paying a certain amount to people without jobs has some logic to it.  Think of the Marshall Plan after World War II - it ended up creating markets for US companies.  Or the GI Bill of Rights - it had a highly positive impact on the US economy.  If people don't have money, they can't buy products and the economy falters.  So unless one has a war to employ the unemployed, it is better to give them a stipend

We need leadership that plans for the future.  Bloomberg has a real resume like him or not 

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