American Economics Thread

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HighGround

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Registered Member
Franklin said:
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Trump will raise tariffs on China, Canada and Mexico from day one of his new administration. China needs to fight fire with fire in this new round of trade wars. America is now weak.

1. The US has massive debts and interest rates are rising.

2. There are enormous asset bubbles in the economy where asset prices seems to be in a melt-up.

3. Inflation is continuing to rise causing hardship amongst the people and is making US products less competitive in both the international and domestic markets.

Further evidence that the US economy is weak comes for the IEA report that states that US energy consumption in 2023 was down by 1,5%. But you have to remember that the US even in 2023 was at the mitts of a AI boom where power guzzling AI data centers where popping up like mushrooms. The AI boom is masking just how much energy consumption has fallen in the rest of the economy.

And the problem is that there are no solutions for America's economic problems because big asset bubbles and high debt levels needs low interest rates and loose monetary policy to maintain while high inflation needs high interest rate and tight monetary policy to solve. You can't do both at the same time. So no matter what America does there will be a massive crisis.
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Trump is an idiot, it's why I never wanted him to become President. This whole tariff scheme is a sure one way to destroy US competitiveness in global markets.

Is he working for you guys by any chance? (jokes)
 
M

MortyandRick

Senior Member
Registered Member
HighGround said:
Trump is an idiot, it's why I never wanted him to become President. This whole tariff scheme is a sure one way to destroy US competitiveness in global markets.

Is he working for you guys by any chance? (jokes)
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It's rhetoric. He makes these bold and outlandish proposals to scare weaker countries into giving in to some of his demands. That way he shows how much of a world class negotiator he is, it's all about negotiations. His base will eat it all up.

I would be very surprised if his tariff plans actually come to fruition. It would actually decrease the stock market so I don't think he would do it. He will aim for a quick deal.
 
H

henrik

Senior Member
Registered Member
MortyandRick said:
It's rhetoric. He makes these bold and outlandish proposals to scare weaker countries into giving in to some of his demands. That way he shows how much of a world class negotiator he is, it's all about negotiations. His base will eat it all up.

I would be very surprised if his tariff plans actually come to fruition. It would actually decrease the stock market so I don't think he would do it. He will aim for a quick deal.
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He is going to transform the US into a bitcoin superpower. Investors should now buy bitcoin and tesla for stock market gains.
 
Sinnavuuty

Sinnavuuty

Senior Member
Registered Member
Sinnavuuty said:
American Dream!!!
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Part 16:
Total credit card debt has reached a new record of $1.17 trillion...
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Collectively, Americans now owe a record $1.17 trillion on their credit cards, according to a new report on household debt from the Federal Reserve Bank of New York.

Credit card balances rise by $24 billion in the third quarter of 2024 and are 8.1% higher than a year ago.
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Needless to say, income did not increase by 8.1% last year.
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Total student loan debt has hit a new record high of $1.61 trillion. If you can believe it, a whopping 30 percent of all student loan borrowers have “gone without food or medicine due to their monthly bills”...
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Thirty percent of federal student loan borrowers say they’ve gone without food or medicine due to their monthly bills, the Consumer Financial Protection Bureau finds.
In addition to skipping necessities, 38% of people with federal student loans said they carried credit card debt that they wouldn’t have otherwise, the bureau found.
Around 44% of borrowers said their education debt was delayed when they could by a home, and 26% said the debt was pushed back when they’d start a family.
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Total household debt in the United States has soared to a new record of $17.94 trillion…
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The Federal Reserve Bank of New York’s Center for Microeconomic Data today issued its Quarterly Report on Household Debt and Credit. The report shows total household debt increased by $147 billion (0.8%) in Q3 2024, to $17.94 trillion.
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U.S. retailers have announced 6,481 store closures so far in 2024…
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U.S. retail closures have reached the highest level since the COVID-19 pandemic, according to recent estimates.

As of Nov. 8, retailers have announced 6,481 store closures, an increase of 336 closures in just the past week, according to the latest data from Coresight Research. The majority of these closures were driven by American Freight, which is shutting all 329 of its locations as part of its parent company’s bankruptcy proceedings.
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Nissan will eliminate “9,000 jobs and a fifth of its production capacity”...
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Nissan Motor shares slumped 6% in Tokyo trade Friday, the day after the Japanese automaker said it would cut 9,000 jobs and a fifth of its manufacturing capacity as it struggles with sales in China and the United States.

On Thursday, Japan’s third-biggest automaker slashed its forecast for full-year operating profit by 70%. It said restructuring would cut costs by 400 billion yen ($2.61 billion) in the financial year to the end of March.
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Stellantis is another automaker that has decided it is time to reduce production and lay off employees…
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Stellantis is indefinitely laying off more than 1,000 employees at its Jeep assembly plant in Ohio as the automaker significantly reduces its inventory levels to match demand.

Stellantis, the parent company of Chrysler, Jeep, Dodge and Ram, issued Worker Adjustment and Retraining Notification (WARN) notices to the respective state and local governments as well as the United Auto Workers union.

The 1,100 layoffs at the Toledo South Assembly Plant will be effective as early as Jan. 5.
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The tech industry is also facing enormous challenges. In fact, chipmaker AMD just announced that it will reduce the number of workers it employs globally by about 4% …
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“As a part of aligning our resources with our largest growth opportunities, we are taking a number of targeted steps that will unfortunately result in reducing our global workforce by approximately 4%,” an AMD representative said in a statement. “We are committed to treating impacted employees with respect and helping them through this transition.”
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Spirit Airlines is one of the latest victims. Spirit's stock price suddenly plummeted when it announced it would file for bankruptcy…
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Spirit Airlines is preparing to file for bankruptcy protection, it emerged last night – sparking fears among flyers about mass cancellations.

After news broke about the bankruptcy emerged on Tuesday evening, Spirit’s share price plummeted 45 percent in just seconds – erasing hundreds of millions in market value from the carrier. By Wednesday morning, it was down by 70 percent.

The Florida-based low-cost airline is in final negotiations with bondholders on a restructuring plan to secure the support of key creditors, the Wall Street Journal reported this evening. It owes more than $3 billion.
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Even CNN is preparing to make some very tough layoffs...
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CNN is planning to wield the ax on some of its high-paid staff after dismal election ratings that cap off a disastrous period for the cable news network.

According to an explosive new report from Puck, network executives will unleash sweeping lay-offs in a bid to save the network’s flailing reputation.

It comes after the departure of stalwart Chris Wallace, and amid reports senior stars like Wolf Blitzer and Jake Tapper have both been denied raises.
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The percentage of small businesses unable to pay their rent has reached its highest level since the peak of the pandemic, and that should deeply alarm everyone…
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Close to half of small business owners couldn’t pay their rent in September, marking a new three-year high.

According to business networking platform Alignable’s September Revenue & Rent Report, 48% of small business renters could not make their rent payments. That was up from 41% in July and August. And it was the highest it has been since the Covid recovery era in March 2021, when 49% of small business owners were delinquent.
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A recent survey found that 22% of all US renters say “all of their regular income goes toward paying rent”…
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22% of U.S. renters say all their regular income goes toward rent payments, according to a recent Redfin-commissioned survey. 19% of renters report they have worked a job they hated to afford rent.

Just over one in five (22%) U.S. renters say all of their regular income goes directly to paying their rent, according to a recent Redfin-commissioned survey.

Working a second job is also a fairly common way for renters to pay housing costs, with 20% of renters citing that method. Nearly the same share (19%) say they have worked a job they hated to afford rent.
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Sinnavuuty

Sinnavuuty

Senior Member
Registered Member
Sinnavuuty said:
American Dream!!!
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Part 17:
According to Bank of America, from 2019 to 2024 there was a 10% increase in the number of people living paycheck to paycheck…
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The share of U.S. households living paycheck to paycheck has grown across all income brackets over the past five years, according to a new study from the Bank of America Institute.

A new analysis released by the think tank on Tuesday found that more than a quarter of Americans, 26%, have necessary expenses that chew up more than 95% of their takehome pay, and nearly a third, 30%, of households spend upwards of 90% of their income on critical bills like groceries, housing, utilities, gas, insurance and child care.

The data showed a 10% increase in those living paycheck to paycheck in 2024 compared to 2019.
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But now the average American thinks it takes an income of just over $270,000 a year to be “financially successful”…
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The average American thinks a salary of just over $270,000 a year qualifies them as “financially successful,” but there are huge disparities between generations, according to a new study.
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It is being reported that the Conference Board's index of leading economic indicators has fallen for eight consecutive months...
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Weakness in the housing market and manufacturing, as well as higher jobless claims, pulled the leading indicators for the U.S. economy down for the eighth consecutive month in October.

The Conference Board said its index of leading indicators dropped 0.3 percent last month. The Conference Board pointed out that over the six-month period between April and October 2024, the index declined by 2.2 percent, slightly more than its two percent decline over the previous six-month period, suggesting that drags on the U.S. economy picked up.
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Now it has a debt of 36 trillion dollars...
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The U.S. national debt surpassed $36 trillion for the first time in the nation’s history on Friday as the federal government continues to accumulate debt at a record-setting pace.

New data from the Treasury Department released Friday afternoon showed that the gross national debt hit $36,034,994,586,981.97.

The $36 trillion debt milestone comes just months after the U.S. eclipsed the $35 trillion mark in late July 2024.
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I

Iracundus

New Member
Registered Member
MortyandRick said:
It's rhetoric. He makes these bold and outlandish proposals to scare weaker countries into giving in to some of his demands. That way he shows how much of a world class negotiator he is, it's all about negotiations. His base will eat it all up.

I would be very surprised if his tariff plans actually come to fruition. It would actually decrease the stock market so I don't think he would do it. He will aim for a quick deal.
Click to expand...

People thought he wouldn't do it with his first round of tariffs but he did, even though it destroyed the American farmers that had supported him. When China imposed counter tariffs, Trump just repeated and did more tariffs even though it just heaped on the pain when China again imposed counter tariffs.

I think it very likely he will do his tariffs because he has hyped it up so much now, he would look weak if he backed down and a narcissist can't stand looking weak or bad in any way. When other countries retaliate and the pain comes, he will blame it on Biden, the Democrats, the other countries, anyone but himself for initiating the tariff war.
 
I

Index

Senior Member
Registered Member
coolgod said:
https://twitter.com/i/web/status/1863009545858998512

Accelerate Comrade Trump, the US empire needs some radical change.
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Let no other country possess or have intermediary with China's goods and markets unless they commit 100% of all their trade to yuan. Soft on US president Xi insisted to keep national security exports including life saving equipment to US even during covid. This retarded charade will be up once Trump alienates all the dove factions in Beijing.

Repurpose all factories devoted to trade with US that is useful to America into arms production. If US wants to close the doors to their economy, let them do it, but knowing that we will come to kick them up by force, and drag everyone hiding inside out into the light. Every market in the world must be and remain China's to control. Show them what happens when you piss off the no1.
 
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