f7ben Posted May 7, 2020 Share Posted May 7, 2020 GDP was down 50% prior to the virus We had 3 straight quarters of contraction in the manufacturing sector prior to the virus The Fed was slashing rates and expanding its balance sheet prior to the virus The fed was injecting massive amounts of liquidity to stabilize a collapsing financial system prior to the virus These are all fucking facts and Trump ball garglers don’t get to just white wash them with their great white virus of convenience Quote Link to comment Share on other sites More sharing options...
Anler Posted May 7, 2020 Share Posted May 7, 2020 11 minutes ago, f7ben said: GDP was down 50% prior to the virus We had 3 straight quarters of contraction in the manufacturing sector prior to the virus The Fed was slashing rates and expanding its balance sheet prior to the virus The fed was injecting massive amounts of liquidity to stabilize a collapsing financial system prior to the virus These are all fucking facts and Trump ball garglers don’t get to just white wash them with their great white virus of convenience Using the same logic of why the stock market is pumping with the world imploding around us. bankrupties lining up left and right and approaching 30 million unemployed, etc... None of this shit is fundamentally sound. Quote Link to comment Share on other sites More sharing options...
1jkw Posted May 7, 2020 Share Posted May 7, 2020 18 minutes ago, DriftBusta said: I have data that contradicts some of that. My point was Ben said gdp was sinking fast and we were in a manufacturing recession. But sure, give that a pass and just challenge me. and? Q4 GDP was revised down to 2.1% do you dispute that? Auto sales were down and that is a major source of manufacturing, because of the length of time I guess you could say it wasn't a recession, but it sure wasn't setting the world on fire, if it were GDP would be revised up not down. Quote Link to comment Share on other sites More sharing options...
Im4snow Posted May 7, 2020 Share Posted May 7, 2020 46 minutes ago, f7ben said: GDP was down 50% prior to the virus Link? Quote Link to comment Share on other sites More sharing options...
f7ben Posted May 7, 2020 Share Posted May 7, 2020 38 minutes ago, Im4snow said: Link? Good god man....what’s 4.2 to 2.1 give you Also that 2.1 was entirely made up of the exact amount the fed expanded the balance sheet for Q4 so technically GDP was fucking zero Quote Link to comment Share on other sites More sharing options...
Guest Posted May 7, 2020 Share Posted May 7, 2020 4 hours ago, BOHICA said: You should look at maybe a career in law enforcement... They take dull normal individuals like you. You also got a jump start on a career as a cop as you got the blow hard part down just perfect for being a cop!!! I was a cop, and I bet I have a higher IQ than you have, and I bet I can buy and sell you. Just sayin'. 3 hours ago, Anler said: My bitcoins are pumping and the future looks ominous... for you! https://cointelegraph.com/news/bitcoin-stock-to-flow-creator-will-go-dark-if-btc-price-hits-6-figures I could lose 95% of my Fidelity account, and still live comfortably for years. Quote Link to comment Share on other sites More sharing options...
Guest Posted May 7, 2020 Share Posted May 7, 2020 Why don't all you economics geniuses post your TNW, so we can all see how big you REALLY are. Quote Link to comment Share on other sites More sharing options...
Gold Member BOHICA Posted May 7, 2020 Gold Member Share Posted May 7, 2020 1 minute ago, Polaris 550 said: I was a cop, and I bet I have a higher IQ than you have, and I bet I can buy and sell you. Just sayin'. I could lose 95% of my Fidelity account, and still live comfortably for years. You don’t hold a candle to me gramps. You are a broke joke that is fucking scared of going out cause you are one of those old people that don’t have good odds on surviving. Quote Link to comment Share on other sites More sharing options...
Anler Posted May 7, 2020 Share Posted May 7, 2020 5 minutes ago, Polaris 550 said: I was a cop, and I bet I have a higher IQ than you have, and I bet I can buy and sell you. Just sayin'. I could lose 95% of my Fidelity account, and still live comfortably for years. But you won't, you'll die and the govt will get your money! Quote Link to comment Share on other sites More sharing options...
Im4snow Posted May 7, 2020 Share Posted May 7, 2020 1 hour ago, f7ben said: Good god man....what’s 4.2 to 2.1 give you Also that 2.1 was entirely made up of the exact amount the fed expanded the balance sheet for Q4 so technically GDP was fucking zero They're nominal GDP growth rates bolded above. Entirely different than saying "GDP was down 50%". Just cleaning up the sensationalism and fake news. Quote Link to comment Share on other sites More sharing options...
f7ben Posted May 7, 2020 Share Posted May 7, 2020 1 minute ago, Im4snow said: They're nominal GDP growth rates bolded above. Entirely different than saying "GDP was down 50%". Just cleaning up the sensationalism and fake news. Yes....growth was down 50%....I assumed that was inferred and understood. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted May 8, 2020 Share Posted May 8, 2020 34 minutes ago, Polaris 550 said: Why don't all you economics geniuses post your TNW, so we can all see how big you REALLY are. My public equities are down about 4% YTD, while private (REITs) haven't skipped a beat. 30 minutes ago, Anler said: But you won't, you'll die and the govt will get your money! Yup. Quote Link to comment Share on other sites More sharing options...
The One Posted May 8, 2020 Share Posted May 8, 2020 1 hour ago, Polaris 550 said: Why don't all you economics geniuses post your TNW, so we can all see how big you REALLY are. You first !!! Quote Link to comment Share on other sites More sharing options...
The One Posted May 8, 2020 Share Posted May 8, 2020 1 hour ago, Polaris 550 said: I was a cop, and I bet I have a higher IQ than you have, and I bet I can buy and sell you. Just sayin'. I could lose 95% of my Fidelity account, and still live comfortably for years. Lmmfao , yeah ok Quote Link to comment Share on other sites More sharing options...
Guest Posted May 8, 2020 Share Posted May 8, 2020 3 hours ago, Anler said: But you won't, you'll die and the govt will get your money! Yeah right. Quote Link to comment Share on other sites More sharing options...
Guest Posted May 8, 2020 Share Posted May 8, 2020 3 hours ago, BOHICA said: You don’t hold a candle to me gramps. You are a broke joke that is fucking scared of going out cause you are one of those old people that don’t have good odds on surviving. Go to PM, if your ass can cash the checks your mouth writes. Quote Link to comment Share on other sites More sharing options...
Mileage Psycho Posted May 8, 2020 Share Posted May 8, 2020 17 hours ago, Anler said: And how many trillions were lent to the repo markets since sept of last year? Was that a measure of great success and financial excellence? I don't think so. 17 hours ago, DriftBusta said: The growth was tepid until Trump got in and announced his stimulus. You guys keep arguing that giving tax breaks during times like this is wrong, and thats an opinion held by some. Its not held by all. See Art Laffer. But Trump gave the middle class a well needed break and lower rates stimulated the business community. The economy took off and tax revenues increased. Have an opinion fine, but quit acting like your opinions are facts. Trump stepped into a tailwind economy, growth started in 2009 and we know this as it's a fact, below shows the delta between 2009 and June 2016. Trump gets sworn in 01/17 and we get a tax cut that really helped out the truly wealthy (people with fuck you money), was a bump for the upper middle class and was a trickle for the working class, and all the while he exploded the nation's debt which has only been exacerbated by the pandemic, Trump has left a pile of debt that future admins and working people will have to pay for. Fred left the Donald with $450M, which he proceeded to invest in casinos which eventually went BK, Donald inherited a tailwind from Fred and from the country, the results have not been good by any measure. The tax revenue increase, yes from the tariffs which all Americans paid for especially those on the lower economic rung of the ladder. Quote Consider the following: Since the 4th quarter of the 2008, America's Gross Domestic Product (GDP) stood at $14.2 trillion. GDP is $18.2 trillion today. Unemployment has fallen from a recession peak of 10 percent to 5 percent today. The stock market has tripled since its 2009 low. Oil and gas prices are one-half to one-third of their peak prices in 2008. Median and average home prices are now above their 2007 peak at $321,100 and $379,800, respectively. Household net worth hit $86.8 trillion in the fourth quarter of 2015, well above the 2007 peak of $66.5 trillion. https://www.cnbc.com/2016/06/02/mitch-mcconnell-is-wrong-about-the-economy-commentary.html 1 Quote Link to comment Share on other sites More sharing options...
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