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Yavin4

(36,366 posts)
Sun Nov 17, 2024, 08:09 PM Sunday

How is Trump going to improve the economy which is doing quite well rn?

GDP - 2.8%
Inflation - 2.4%
UE - 4.1%
Stock markets are at record highs

Answer: He's not. He's going to create a chaotic economy which will be the worst since The Great Depression. Trump's economy will make the Great Recession look like a picnic.

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How is Trump going to improve the economy which is doing quite well rn? (Original Post) Yavin4 Sunday OP
Well he's gonna get rid of the IRS, begin imposing tariffs on friend and foe alike. Swede Sunday #1
republicans never improve the economy, they cause recessions, to drive high unemployment, which drives down Meadowoak Sunday #2
He's just going to proclaim the current positives of the economy as his own 0rganism Sunday #3
The economy wont do anything much the first year, year and a half. haele Sunday #4
NYT: After Flurry of Cabinet Picks, Trump Rethinks Candidates for Treasury Secretary Yavin4 Sunday #5
As you noted... tgraf66 Sunday #6
A govt shutdown and default on its debts may be triggering events for a major recession Yavin4 Sunday #7
Wondering if they want to tank everything, tank the dollar flamingdem Sunday #9
I'm not sure it would be limited to that. tgraf66 Monday #11
That tech bro mentality of breaking things only works bc broken shit can be easily recovered. Yavin4 Monday #13
The market will start to figure this out and sell off flamingdem Sunday #8
Not any time soon. They're too drunk on tax and interest rates cuts. Yavin4 Monday #14
Lie-la-lie. Lie-la-lie-lie-lie-lie-lie. Lie-la-lie. Lie-la-lie-lie-lie-lie-lie, lie-lie-lie-lie-lie. struggle4progress Sunday #10
Isn't he supposed to bring down the costs of eggs and many other things JI7 Monday #12
Don't forget. He promised to eliminate all taxes and use tariffs to replace them. Yavin4 Monday #15
He doesn't have to improve the economy., Mariana Monday #16
improve the economy, don't think that is the plan, republianmushroom Monday #17
With Dr. Donald's New and Improved TARIFFS! Buns_of_Fire Monday #18

Swede

(34,591 posts)
1. Well he's gonna get rid of the IRS, begin imposing tariffs on friend and foe alike.
Sun Nov 17, 2024, 08:11 PM
Sunday

Close entire departments in the government, and deport up to 10 million people. That'll get the economy humming along.

Meadowoak

(6,215 posts)
2. republicans never improve the economy, they cause recessions, to drive high unemployment, which drives down
Sun Nov 17, 2024, 08:12 PM
Sunday

wages and benefits. every republican administration for the last 100 years.

0rganism

(24,668 posts)
3. He's just going to proclaim the current positives of the economy as his own
Sun Nov 17, 2024, 08:15 PM
Sunday

Any future failings or shortfalls, should they receive coverage at all, will be the fault of his "enemies within".

haele

(13,521 posts)
4. The economy wont do anything much the first year, year and a half.
Sun Nov 17, 2024, 08:23 PM
Sunday

Not to mention there's inertia going on with everything that is working right now that might give the illusion of competency.
Timing is everything. Got to get the Administrative purge taken care of, and next Senate and House locked in so *rump could have a mandate to crash the economy and deconstruct the rest of the country and Constitution. That's going to be harder to achieve than they think without outright mass murder.

Here's hoping for the collapse or implosion of the Muscovite Empire before the end of 2025. The demise of funding for the interfering Russian Troll farm complex will do a lot to help the civilized world.

Haele

Yavin4

(36,366 posts)
5. NYT: After Flurry of Cabinet Picks, Trump Rethinks Candidates for Treasury Secretary
Sun Nov 17, 2024, 08:45 PM
Sunday
Mr. Trump had been expected to pick either Howard Lutnick, the chief executive of the Wall Street firm Cantor Fitzgerald, or Scott Bessent, the founder of the investment firm Key Square Capital Management and a former money manager for George Soros. And he had been seen as likely to make the selection late last week.

Mr. Lutnick, who has been running Mr. Trump’s transition operation, has gotten on Mr. Trump’s nerves lately. Mr. Trump has privately expressed frustration that Mr. Lutnick has been hanging around him too much and that he has been manipulating the transition process for his own ends.


https://www.nytimes.com/2024/11/17/us/politics/trump-treasury-candidates.html

tgraf66

(32 posts)
6. As you noted...
Sun Nov 17, 2024, 10:32 PM
Sunday

...he won't. The current CR on the budget expires on Jan 2. The new Congress is seated on Jan 3, and will not be able to pass a new budget until they get settled and get their shit together (assuming they do). That being the case, the Fed will have to enact Emergency funding for a period of time, likely 3 months, meaning April. if no budget is forthcoming after that, the US defaults on its debt. I'm kind of betting that's the plan, because it would automatically shut down and eliminate most gov't functions, which I'm going to guess is the goal, since they want to re-make it in the image of the 🍊💩 anyway.

Yavin4

(36,366 posts)
7. A govt shutdown and default on its debts may be triggering events for a major recession
Sun Nov 17, 2024, 10:55 PM
Sunday

and a market sell off.

flamingdem

(39,916 posts)
9. Wondering if they want to tank everything, tank the dollar
Sun Nov 17, 2024, 10:59 PM
Sunday

and instate digital currency. Just not sure what's the end game. Not sure they know.

tgraf66

(32 posts)
11. I'm not sure it would be limited to that.
Mon Nov 18, 2024, 01:40 AM
Monday

I don't think they really have a clue how deeply embedded and entangled the US economy is with the rest of the world. I really don't think they understand that if they take it down, everything else will pretty quickly fall with it. It appears they think that the US economy, while obviously influential, operates in some kind of bubble, and that they can eliminate the US debt through default and then swoop in and buy up all that debt on the cheap with digital currency. That simply isn't possible. Whether they like it or even understand it or not, digital currencies are still valued in fiat amounts, and without fiat, digital literally has no value. I'm honestly not sure what happens then. Instant world-wide runaway inflation for one, I'm guessing, and a complete collapse of all trading of stocks, bonds, goods, services, and pretty much everything else.

I have no idea how many other countries - friends and foes alike - hold US debt, but that debt is literally backed only by the "full faith and credit" of the US gov't/Treasury - in other words, a lick and a promise. I do know that China alone owns over $859 billion in US debt instruments, and since China's economy is already weak, that could very well be one of the final straws for them, and lord knows what will happen to all the other creditors, including the Fed.

Yavin4

(36,366 posts)
13. That tech bro mentality of breaking things only works bc broken shit can be easily recovered.
Mon Nov 18, 2024, 01:27 PM
Monday

Some things when broken destroy the entire world as we know it.

Yavin4

(36,366 posts)
14. Not any time soon. They're too drunk on tax and interest rates cuts.
Mon Nov 18, 2024, 01:28 PM
Monday

Once the sugar high wears off and we default on our debts, then there will be panic selling.

JI7

(90,524 posts)
12. Isn't he supposed to bring down the costs of eggs and many other things
Mon Nov 18, 2024, 01:45 AM
Monday

to what it was before Covid. Isn't he supposed to bring down the cost of rent and houses ?

Yavin4

(36,366 posts)
15. Don't forget. He promised to eliminate all taxes and use tariffs to replace them.
Mon Nov 18, 2024, 01:30 PM
Monday

But then again, fools at the WSJ don't believe him.

Mariana

(15,096 posts)
16. He doesn't have to improve the economy.,
Mon Nov 18, 2024, 01:46 PM
Monday

His worshipers will believe he improved the economy no matter what happens. Remember in the book 1984, how everyone celebrated the "increase" in the chocolate ration after it had actually been decreased? Like that.

Buns_of_Fire

(17,855 posts)
18. With Dr. Donald's New and Improved TARIFFS!
Mon Nov 18, 2024, 02:01 PM
Monday

And the best part is that CHINA is going to pay for them! Really! Would Dr. Donald lie to you?

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