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View Poll Results: Will Trump be a good President?
Yes 93 26.50%
No 258 73.50%
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  #19901  
Old 22.08.2019, 13:46
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Re: Will Trump be a Good President?

Lest it be lost amongst the madness, the US president, during a press conference, looked to the heavens and declared himself "The Chosen One"

#imagineifobamadidthat

I'm curious to see how far this rabbit hole goest tbh, how far beyond satire can it go? what would be beyond him?

maddest thing I can think of is him hosting a game show where GOP supporters can phone in to vote for what country to nuke, I hope in a year that's still the maddest thing I can think of.
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  #19902  
Old 22.08.2019, 13:46
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Re: Will Trump be a Good President?

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Actually US is $22 trillion in debt; you could probably buy the country for a packet of cigarettes.
You say US. But who is in debt. The average jo blow?
  #19903  
Old 22.08.2019, 14:05
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Re: Will Trump be a Good President?

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You say US. But who is in debt. The average jo blow?
The national debt of the United States is the total debt, or unpaid borrowed funds, carried by the Federal Government of the United States, which is measured as the face value of the currently outstanding Treasury securities that have been issued by the Treasury and other federal government agencies.

Sooner or later the US will have to face the problem. Either dramatically raise taxes to get the money to buy the debt back and so reduce annual interest payments or dramatically devalue the $ like Argentina did with their currency in 2002!
  #19904  
Old 22.08.2019, 14:20
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Re: Will Trump be a Good President?

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Sooner or later the US will have to face the problem. Either dramatically raise taxes to get the money to buy the debt back and so reduce annual interest payments or dramatically devalue the $ like Argentina did with their currency in 2002!

Doesn't the US have its debts in USD? As long as the USD is a leading currency, they should be fine. Problem would be if the euro or another currency would take over this role.
  #19905  
Old 22.08.2019, 15:54
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Re: Will Trump be a Good President?

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Doesn't the US have its debts in USD? As long as the USD is a leading currency, they should be fine. Problem would be if the euro or another currency would take over this role.
Problem US have is funding the ever increasing interest payments! Currently such interest is over $500 billion per year!
  #19906  
Old 22.08.2019, 15:57
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Re: Will Trump be a Good President?

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Speculation now is that Trump needed an excuse to cancel Denmark after he learned of Obamas already planned visit there. Apparently he didn’t want the media comparison of the two visits.
Quite possible, nothing surprises me anymore when it concerns Trump!
  #19907  
Old 22.08.2019, 16:00
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Re: Will Trump be a Good President?

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Sooner or later the US will have to face the problem. Either dramatically raise taxes to get the money to buy the debt back and so reduce annual interest payments or dramatically devalue the $ like Argentina did with their currency in 2002!
It didn't really work for Argentina.

The third way would be to keep interest rates low, or even negative.
  #19908  
Old 22.08.2019, 17:32
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Re: Will Trump be a Good President?

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It didn't really work for Argentina.

The third way would be to keep interest rates low, or even negative.
Government securities are sold with fixed rates of interest so cannot be reduced. Sales of new bonds could be at lower rates or even negative but you would still have the $22 Trillion sitting there currently at 2.5+% interest.

New Associated Press–NORC Center for Public Affairs Research poll has Trump at record 62% disapproval
Approval level still in lower forties or below in other polls; but a lot fewer people in the undecided column!

Last edited by marton; 22.08.2019 at 18:17.
  #19909  
Old 22.08.2019, 17:43
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Re: Will Trump be a Good President?

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Government securities are sold with fixed rates of interest so cannot be reduced. Sales of new bonds could be at lower rates or even negative but you would still have the $22 Trillion sitting there currently at 2.5+% interest.
Not over night of course, but old bonds expire at some point and then need to be either payed back or refinanced, at which point a lower interest rate can be applied if the market will accept it.
  #19910  
Old 22.08.2019, 21:36
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Re: Will Trump be a Good President?

Quote:
Lest it be lost amongst the madness, the US president, during a press conference, looked to the heavens and declared himself "The Chosen One"

#imagineifobamadidthat

I'm curious to see how far this rabbit hole goest tbh, how far beyond satire can it go? what would be beyond him?

maddest thing I can think of is him hosting a game show where GOP supporters can phone in to vote for what country to nuke, I hope in a year that's still the maddest thing I can think of.
Front cover, today's New York Daily News!
Name:  TrumpLastSupper.jpg
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  #19911  
Old 23.08.2019, 01:42
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Re: Will Trump be a Good President?

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Front cover, today's New York Daily News!
Attachment 137533
That is one amazing front page illustration, they certainly deserve credit for that!
  #19912  
Old 23.08.2019, 09:05
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Re: Will Trump be a Good President?

Friday!
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A group of Flemish politicians on Thursday joked that President Trump could have the southern region of Belgium, Wallonia, for one euro after the U.S. president floated the idea of purchasing Greenland.
The tweet includes an edited photo depicting Trump Tower in the Belgian city of Durbuy.
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  #19913  
Old 23.08.2019, 09:33
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Re: Will Trump be a Good President?

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The national debt of the United States is the total debt, or unpaid borrowed funds, carried by the Federal Government of the United States, which is measured as the face value of the currently outstanding Treasury securities that have been issued by the Treasury and other federal government agencies.

Sooner or later the US will have to face the problem. Either dramatically raise taxes to get the money to buy the debt back and so reduce annual interest payments or dramatically devalue the $ like Argentina did with their currency in 2002!



Maybe that is already included in those 22t, but there's also a number of so called "unfounded liabilities", which mostly includes pensions that will have to be paid in the future. Also runs to about 6t (the number vary).


Then, there's that dispute about just how high the "unsupported adjustments" of the Pentagon really are.
US government says it's all peachy, others say it's another 21t spent that was never granted in the first place (which is the primary argument of officials trying to debunk that theory: "Our budget is only 600b, we can't spend more than that").



The truth is probably that we all have already spent more than we can ever repay. Some more, some even very much more.
At some point, that tsunami of debt is going to hit the shore and throw a gigantic wave that cannot be stopped and will leave a trail of destruction akin to the Noachian deluge.


While Switzerland (the country) has relatively little debt, compared to the US (in relation to GDP), the SNB has borrowed almost 600b CHF from the nation's banks to finance the devaluation of the Swiss Frank.
That's almost the size of the Swiss GDP.


If you add that, the picture is a bit different and Switzerland looks more like Italy, when you look at debt/GDP ratio.


As I said before, this all would have happened without Trump. Just a bit slower. Somebody must have decided it was time to hit the fast-forward button.
  #19914  
Old 23.08.2019, 09:43
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Re: Will Trump be a Good President?

Some months ago Trump tweeted
Quote:
Donald J. Trump@realDonaldTrump

GREAT NEWS FOR OHIO! Just spoke to Mary Barra, CEO of General Motors, who informed me that, subject to a UAW agreement etc., GM will be selling their beautiful Lordstown Plant to Workhorse, where they plan to build Electric Trucks.
GM will also be spending $700,000,000 in Ohio...
5:18 PM · May 8, 2019
Today the Lordstown Plant (which used to have 8,000 workers) is still closed.
Workhorse is beset by its own problems. The company recorded sales of just $6,000 in the second quarter of this year and lost $36.9m.

Source

GM announced their spending of $700,000,000 in Ohio will create 450 new jobs. This does little to offset the Lordstown Plant closure and little to support Trump campaign promises to bring back manufacturing and blue collar jobs in the Mid West.
  #19915  
Old 23.08.2019, 09:55
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Re: Will Trump be a Good President?

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Maybe that is already included in those 22t, but there's also a number of so called "unfounded liabilities", which mostly includes pensions that will have to be paid in the future. Also runs to about 6t (the number vary).
Won't be included. National debt is only the direct liability for government borrowings. Unfunded liabilities would be on top, unlike companies governments basically only account on a cash basis.

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While Switzerland (the country) has relatively little debt, compared to the US (in relation to GDP), the SNB has borrowed almost 600b CHF from the nation's banks to finance the devaluation of the Swiss Frank.
Fundamentally different. That 600bn (haven't checked the amount) has not disappeared and is not government borrowing, rather it has been sold in exchange for (mainly) Euros, therefore roughly balanced out by assets.
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  #19916  
Old 23.08.2019, 15:22
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Re: Will Trump be a Good President?

I'm sorry Guys but I'm still laughing about the fact that:

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  #19917  
Old 23.08.2019, 15:29
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Re: Will Trump be a Good President?

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Won't be included. National debt is only the direct liability for government borrowings. Unfunded liabilities would be on top, unlike companies governments basically only account on a cash basis.


Fundamentally different. That 600bn (haven't checked the amount) has not disappeared and is not government borrowing, rather it has been sold in exchange for (mainly) Euros, therefore roughly balanced out by assets.

It's close to 600bn.
Basically the collective savings of Swiss banks' customers.
Mine are lumped in there, too.
:-(
  #19918  
Old 23.08.2019, 15:41
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Re: Will Trump be a Good President?

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China announced today it will impose tariffs on $75 billion worth of U.S. goods, the latest salvo in the year-plus trade war between the world's two largest economies.

The country's State Council said tariffs of 5 percent to 10 percent will be imposed on a variety of American goods in two batches
China will also resume its 25% tariffs on US car imports.
Oooppss!

US Stock markets dropped slightly

Around a year and a half ago Trump tweeted
Quote:
Donald J. Trump@realDonaldTrump

When a country (USA) is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win.

Example, when we are down $100 billion with a certain country and they get cute, don’t trade anymore-we win big. It’s easy!
11:50 AM · Mar 2, 2018
  #19919  
Old 23.08.2019, 17:44
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Re: Will Trump be a Good President?

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The Federal Reserve chairman, Jerome Powell, warned today the US central bank was facing a “new challenge” as it deals with the Trump administration’s seesaw trade policies.

Powell speech made clear that the Fed is considering further cuts to interest rates but gave no information on when those cuts could come.

While monetary policy is a powerful tool , it cannot provide a settled rulebook for international trade,”
Trump seems to be in total meltdown mode, 30 retweets late last night.

Trump's response to Powell
Quote:
Donald J. Trump@realDonaldTrump

As usual, the Fed did NOTHING! It is incredible that they can “speak” without knowing or asking what I am doing, which will be announced shortly. We have a very strong dollar and a very weak Fed. I will work “brilliantly” with both, and the U.S. will do great
My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?
Trump also has gone into top dictator mode in a series of manic tweets today including!!
Quote:
.....Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing your companies HOME and making your products in the USA......
&

Quote:
.....I am ordering all carriers, including Fed Ex, Amazon, UPS and the Post Office, to SEARCH FOR & REFUSE, all deliveries of Fentanyl from China (or anywhere else!).....
  #19920  
Old 23.08.2019, 22:00
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Re: Will Trump be a Good President?

no comment:

https://www.marketwatch.com/story/th...30s-2019-08-23
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