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dirtbag
climber
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Jul 26, 2018 - 09:49am PT
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Well blah you never said anything about expectations from November 9 2016 onward, so I think my reading comprehension skills are more or less intact.
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Reilly
Mountain climber
The Other Monrovia- CA
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Jul 26, 2018 - 09:55am PT
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For those who don't mind crashes
Just like the Bolshies didn’t mind Russia getting its ass kicked in WWI and millions dying.
It’s like a political buying opportunity. Now y’all are jonesing for a good recession so
millions can lose their jobs and homes so they’ll have more time to join the local soviet.
Nothing ever changes...
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EdwardT
Trad climber
Retired
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Jul 26, 2018 - 10:08am PT
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Its not that hard to figure out that people believed that the markets would go up fast because of Trump
One would think so. But before the election, all the "experts" I saw predicted a bearish reaction if Trump won.
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John M
climber
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Jul 26, 2018 - 10:21am PT
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the "experts" quoted in the media are all too often wrong. Drama sells and so the media quotes the "experts" that help it sell.
If you read the headlines for the fire near Yosemite and didn't do more in depth research, or know the region and how fires behave, then you could be led to believe that it is the end of the world and Yosemite was about to burn down.
How often do we read news reports about climbing accidents and know just how much that they got wrong? The same is true for politics. We play too much "gotcha" politics. But reasonable politics is boring. As is reasonable economic growth. We are addicted to boom bust cycles.
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Contractor
Boulder climber
CA
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Jul 26, 2018 - 10:23am PT
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Blah-but you know what they say, make hay while the sun shines. That pretty much sums up the attitude that has us fuked for generations and is a huge contributor to the necessity of intrusive financial regulation.
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i-b-goB
Social climber
Nutty
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Jul 26, 2018 - 10:40am PT
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Unhindered government entitlements and open borders, is like giving your kids a visa card to use at will that you have to pay for, not recommended to manage your household budget!
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Fritz
Social climber
Choss Creek, ID
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Topic Author's Reply - Jul 26, 2018 - 10:47am PT
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Trump & his henchmen are driving our national debt to new highs per this New York Times article:
How the Trump Tax Cut Is Helping to Push the Federal Deficit to $1 Trillion
The amount of corporate taxes collected by the federal government has plunged to historically low levels in the first six months of the year, pushing up the federal budget deficit much faster than economists had predicted.
The reason is President Trump’s tax cuts. The law introduced a standard corporate rate of 21 percent, down from a high of 35 percent, and allowed companies to immediately deduct many new investments. As companies operate with lower taxes and a greater ability to reduce what they owe, the federal government is receiving far less than it would have before the overhaul.
There's much more to this article: https://www.nytimes.com/2018/07/25/business/trump-corporate-tax-cut-deficit.html
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blahblah
Gym climber
Boulder
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Jul 26, 2018 - 11:00am PT
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Fritz then I suppose you should think Trump is doing a good job, after all your hero Obama is the one who caused the debt to explode, so in that way Trump is just improving on what Obama did, right?
(I have to admit I'm not a fan of the ever-increasing debt, seems imprudent to me. But then I think, what do I know, a mere humble investor, and have to conclude "the markets are always right," and right now everything is looking good.)
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John M
climber
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Jul 26, 2018 - 11:09am PT
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Obama inherited his mess. try occasionally to remember that.
(I have to admit I'm not a fan of the ever-increasing debt, seems imprudent to me. But then I think, what do I know, a mere humble investor, and have to conclude "the markets are always right," and right now everything is looking good.)
the markets looked great in the year leading up to the great depression. Why is that such a difficult thing for you to understand?
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dirtbag
climber
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Jul 26, 2018 - 11:21am PT
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Obama made a conscious decision to increase the debt to stimulate the economy, which is what commonly occurs during a recession; this last recession was quite severe. That is one method to pull out of a recession.
Usually, when times are good (like now), debt and government stimulus should go down. Instead we have a stimulus (tax cut) and resulting increase in debt. It’s ass backwards.
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EdwardT
Trad climber
Retired
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Jul 26, 2018 - 11:23am PT
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the "experts" quoted in the media are all too often wrong. Drama sells and so the media quotes the "experts" that help it sell.
So, what you're saying is everyone is full of sh*t, regardless of their curriculum vitae.
Case in point - Hillary will win. 100% sure thing!
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John M
climber
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Jul 26, 2018 - 11:34am PT
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So, what you're saying is everyone is full of sh*t, regardless of their curriculum vitae.
not what I said. I said the media will use what it needs to use to substantiate any position it wants. This is possible because people don't really pay that close of attention and also because they believe what they want to believe.
I predicted more then a year before the election that Hillary would most likely lose.
Dirtbag.. good points about spending during a recession to help the economy get past the recession. And yes.. we are doing things bass ackwards right now. Making hay while the sun shines for the economy should mean that we save money while the economy is good, to help during a rainy day.
edit: I'm way over my political post limit for the day. Cheers.. Don't forget to get outside if you can.
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fear
Ice climber
hartford, ct
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Jul 26, 2018 - 12:35pm PT
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At least on Happie's 30 year-old-van posts we can, theoretically at least, solve a problem.
No multimeter can save this thread.
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Fat Dad
Trad climber
Los Angeles, CA
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Jul 26, 2018 - 12:35pm PT
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One might have had a similar interview with Trump before he ran for office. On wait, his utter lack of qualifications (as well as his many defects) were very well vetted before the election and the good Republicans of this country nevertheless decided that his absence of any experience, ethics, and intelligence didn't matter. Even after his many many lies, repeated attacks on a free press, creating massive tax cuts for the wealthy, repeated attacks on our intelligence agencies, on the courts, secrets meetings with and capitulating to despots, starting a trade war, etc., etc., this same group believe he's doing a fine job. Loyal only to Trump, not their country.
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zBrown
Ice climber
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Jul 26, 2018 - 03:08pm PT
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Doesn't even climb, does he?
Mark Zuckerberg loses $16B in one day as Facebook stock plunges 20 percent
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EdwardT
Trad climber
Retired
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Jul 26, 2018 - 03:16pm PT
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Lituya - No need to post that disingenuous tripe. Alexandria Ocasio-Cortez's own words are so revealing.
When asked about low unemployment, she said: Unemployment is low because everyone has two jobs. Unemployment is low because people are working 60, 70, 80 hours a week and can barely feed their family.
She graduated Boston University with an Economics degree.
Impressive.
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zBrown
Ice climber
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Jul 26, 2018 - 03:18pm PT
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Whaal, he had it comin'
Allen Weisselberg, the man at the financial center of President Trump’s sprawling business operation for the past several decades, has been subpoenaed as a witness in the federal criminal probe into longtime Trump associate Michael Cohen, the Wall Street Journal reported Thursday.
Economies of kale
"Qu'ils mangent de la brioche"
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wilbeer
Mountain climber
Terence Wilson greeneck alleghenys,ny,
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Jul 26, 2018 - 04:56pm PT
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The Cons throwing the socialist under the bus is funny.
Ever been to the second most populated district in New York, known as the Bronx?
Out of touch, much?
12 billion dollar bailout to farmers.
Socialism because of?
Laughing Hardly
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