Author Topic: Trumpís Economy (merged)  (Read 34944 times)

0 Members and 1 Guest are viewing this topic.

Re: Trumpís Economy (merged)
« Reply #390 on: August 29, 2018, 10:51:27 AM »

Offline Evantime34

  • Ed Macauley
  • ***********
  • Posts: 11736
  • Tommy Points: 750
  • Eagerly Awaiting the Next Fantasy Draft
Here is a link from a Bloomberg article the headline of the related tweet accurately sums up how I feel about Trump's economy.

"The U.S. economy is growing, but workers are seeing less and less of the benefits "

https://www.bloomberg.com/view/articles/2018-07-25/states-should-ban-contracts-barring-workers-from-joining-rivals?cmpid%3D=socialflow-twitter-view&utm_content=view&utm_medium=social&utm_source=twitter&utm_campaign=socialflow-organic

IMO, a true free market would not result in the majority of wealth concentrated at the top. The more wealth concentrated at the top the more monopolistic power the elite have and monopolies are in direct opposition to a free market.
DKC:  Rockets
CB Draft: Memphis Grizz
Players: Klay Thompson, Jabari Parker, Aaron Gordon
Next 3 picks: 4.14, 4.15, 4.19

Re: Trumpís Economy (merged)
« Reply #391 on: August 29, 2018, 11:15:39 AM »

Offline KGs Knee

  • Ed Macauley
  • ***********
  • Posts: 11145
  • Tommy Points: 1312
I think in the near future after the temporary tax cuts for normal folks expire and more government programs get cut, people are going to realize they were sold a flaming bag of poop by the current administration. Problem is, it will be too late then. Trump will be on to his second term.

Well, it's up to Congress to renew the personal income tax rates. It's going to be pretty tough for anyone in Congress to not vote for it. Good luck getting re-elected if you don't.

Re: Trumpís Economy (merged)
« Reply #392 on: August 29, 2018, 11:24:15 AM »

Offline fairweatherfan

  • Bill Sharman
  • *******************
  • Posts: 19318
  • Tommy Points: 2162
  • Be the posts you wish to see in the world.
IMO, a true free market would not result in the majority of wealth concentrated at the top. The more wealth concentrated at the top the more monopolistic power the elite have and monopolies are in direct opposition to a free market.

I'd argue that a true free market inevitably ends in exactly that.  The endgame of pure capitalism is a tiny group of people basically controlling everything.  That's why we rein it in so that we can still reap as much benefit as possible without descending into oligarchy. At least, we used to.

Re: Trumpís Economy (merged)
« Reply #393 on: August 29, 2018, 12:19:19 PM »

Offline gift

  • Don Chaney
  • *
  • Posts: 1678
  • Tommy Points: 157
IMO, a true free market would not result in the majority of wealth concentrated at the top. The more wealth concentrated at the top the more monopolistic power the elite have and monopolies are in direct opposition to a free market.

I'd argue that a true free market inevitably ends in exactly that.  The endgame of pure capitalism is a tiny group of people basically controlling everything.  That's why we rein it in so that we can still reap as much benefit as possible without descending into oligarchy. At least, we used to.

I once listened to a talk where they listed all of the monopolies of the last hundred years or so and traced each one to artificial regulation in the market place. I suppose this alone doesn't prove that monopolies wouldn't exist without that regulation, but I haven't heard as compelling a rebuttal to this other than the intuitive assumption that capitalism creates massive inequality. I haven't really been presented with any real cases of this, though, because there has always been intervention to taint the sample. We haven't seen true free markets, we only understand how they function, not which specific results they produce, or how consistently they produce them. In this way, the thing that is good about free markets is that they function more predictably and openly than regulated inequality. Regulation, whether you prefer it or not, is much more messy and resource taxing.
« Last Edit: August 29, 2018, 12:27:18 PM by gift »

Re: Trumpís Economy (merged)
« Reply #394 on: August 29, 2018, 12:50:49 PM »

Offline Evantime34

  • Ed Macauley
  • ***********
  • Posts: 11736
  • Tommy Points: 750
  • Eagerly Awaiting the Next Fantasy Draft
IMO, a true free market would not result in the majority of wealth concentrated at the top. The more wealth concentrated at the top the more monopolistic power the elite have and monopolies are in direct opposition to a free market.

I'd argue that a true free market inevitably ends in exactly that.  The endgame of pure capitalism is a tiny group of people basically controlling everything.  That's why we rein it in so that we can still reap as much benefit as possible without descending into oligarchy. At least, we used to.
So I agree with you that this is what happens in practice. However, I think by the original idea of the theory competition was supposed to limit the tiny group controlling everything.

Like every other economic system, it doesn't work as intended in practice because of the inherent greed and self-serving bias of human nature. This is true of ideologies from Capitalism to Communism.
DKC:  Rockets
CB Draft: Memphis Grizz
Players: Klay Thompson, Jabari Parker, Aaron Gordon
Next 3 picks: 4.14, 4.15, 4.19

Re: Trumpís Economy (merged)
« Reply #395 on: August 29, 2018, 12:55:54 PM »

Offline gift

  • Don Chaney
  • *
  • Posts: 1678
  • Tommy Points: 157
IMO, a true free market would not result in the majority of wealth concentrated at the top. The more wealth concentrated at the top the more monopolistic power the elite have and monopolies are in direct opposition to a free market.

I'd argue that a true free market inevitably ends in exactly that.  The endgame of pure capitalism is a tiny group of people basically controlling everything.  That's why we rein it in so that we can still reap as much benefit as possible without descending into oligarchy. At least, we used to.
So I agree with you that this is what happens in practice. However, I think by the original idea of the theory competition was supposed to limit the tiny group controlling everything.

Like every other economic system, it doesn't work as intended in practice because of the inherent greed and self-serving bias of human nature. This is true of ideologies from Capitalism to Communism.

I'd describe capitalism more as a mechanism than an ideology.

Re: Trumpís Economy (merged)
« Reply #396 on: August 29, 2018, 07:19:53 PM »

Offline Greenback

  • NCE
  • Al Horford
  • Posts: 695
  • Tommy Points: 57
  • Take away love and the earth is a tomb. ~ Browning
Everyone wants truth on his side, not everyone wants to be on the side of truth.

Re: Trumpís Economy (merged)
« Reply #397 on: August 29, 2018, 09:31:52 PM »

Offline Pucaccia

  • Al Horford
  • Posts: 551
  • Tommy Points: 64
Blue wave for GOP?

https://thenationalsentinel.com/2018/08/29/blue-wave-for-trump-and-gop-blue-collar-workers-overwhelmingly-says-lives-better-under-trump/

Thanks, good article... makes sense.  Also the 4.1% GDP for 2nd quarter just got adjusted to 4.2%. The USA is winning.

Re: Trumpís Economy (merged)
« Reply #398 on: August 30, 2018, 07:42:32 PM »

Offline Greenback

  • NCE
  • Al Horford
  • Posts: 695
  • Tommy Points: 57
  • Take away love and the earth is a tomb. ~ Browning
Household Income Jumps To All-Time Highs Under Trump. 

https://www.investors.com/politics/editorials/household-income-trump-economy/
Everyone wants truth on his side, not everyone wants to be on the side of truth.

Re: Trumpís Economy (merged)
« Reply #399 on: August 30, 2018, 08:28:41 PM »

Offline slamtheking

  • Johnny Most
  • ********************
  • Posts: 20083
  • Tommy Points: 9056
Household Income Jumps To All-Time Highs Under Trump. 

https://www.investors.com/politics/editorials/household-income-trump-economy/
not in my household.  in fact, my wife, who's a federal employee, just had her 2.1% raise scheduled for next January yanked out from under her when she's already had her pay frozen the past couple of years.  This **** screwed over people making crap pay in the government to give his millionaire/billionaire buddies tax breaks. 

spare me the BS articles on how he's 'helping' working people

Re: Trumpís Economy (merged)
« Reply #400 on: August 30, 2018, 08:32:11 PM »

Offline Greenback

  • NCE
  • Al Horford
  • Posts: 695
  • Tommy Points: 57
  • Take away love and the earth is a tomb. ~ Browning
Household Income Jumps To All-Time Highs Under Trump. 

https://www.investors.com/politics/editorials/household-income-trump-economy/
not in my household.  in fact, my wife, who's a federal employee, just had her 2.1% raise scheduled for next January yanked out from under her when she's already had her pay frozen the past couple of years.  This **** screwed over people making crap pay in the government to give his millionaire/billionaire buddies tax breaks. 

spare me the BS articles on how he's 'helping' working people

I understand.  But there is now a tendency to reduce government and grow the private sector - the real engine of economic growth.
Everyone wants truth on his side, not everyone wants to be on the side of truth.

Re: Trumpís Economy (merged)
« Reply #401 on: August 30, 2018, 08:36:44 PM »

Offline slamtheking

  • Johnny Most
  • ********************
  • Posts: 20083
  • Tommy Points: 9056
Household Income Jumps To All-Time Highs Under Trump. 

https://www.investors.com/politics/editorials/household-income-trump-economy/
not in my household.  in fact, my wife, who's a federal employee, just had her 2.1% raise scheduled for next January yanked out from under her when she's already had her pay frozen the past couple of years.  This **** screwed over people making crap pay in the government to give his millionaire/billionaire buddies tax breaks. 

spare me the BS articles on how he's 'helping' working people

I understand.  But there is now a tendency to reduce government and grow the private sector - the real engine of economic growth.
stick your false sympathies.  anyone who really has a minimal concern for their fellow American doesn't align with the piece of crap occupying the Oval Office.

Re: Trumpís Economy (merged)
« Reply #402 on: August 30, 2018, 08:50:45 PM »

Online Roy H.

  • Forums Manager
  • James Naismith
  • *********************************
  • Posts: 37521
  • Tommy Points: -27475
  • 33,333 posts and counting . . .
Household Income Jumps To All-Time Highs Under Trump. 

https://www.investors.com/politics/editorials/household-income-trump-economy/
not in my household.  in fact, my wife, who's a federal employee, just had her 2.1% raise scheduled for next January yanked out from under her when she's already had her pay frozen the past couple of years.  This **** screwed over people making crap pay in the government to give his millionaire/billionaire buddies tax breaks. 

spare me the BS articles on how he's 'helping' working people

I understand.  But there is now a tendency to reduce government and grow the private sector - the real engine of economic growth.
stick your false sympathies.  anyone who really has a minimal concern for their fellow American doesn't align with the piece of crap occupying the Oval Office.

How much is the loss of your wife's raise off-set by your family's lower taxes? 

I agree that the "we don't have the money for it" excuse is flimsy, but in terms of sheer income, most families now have more money in their pockets.


Once a CrotoNat, always a CrotoNat.  CelticsBlog Draft Champions, 2009 & 2012;
DKC Draft 2015 Champions and beyond...

Re: Trumpís Economy (merged)
« Reply #403 on: August 30, 2018, 09:04:02 PM »

Offline nickagneta

  • Global Moderator
  • James Naismith
  • *********************************
  • Posts: 35407
  • Tommy Points: 5872
I would think that the amount of income increases for the upper 10-20% of wages earners seriously skews those numbers. The lower and lower middle class have most likely not improved in this economy, which would be the majority of the households.

Re: Trumpís Economy (merged)
« Reply #404 on: August 30, 2018, 09:07:44 PM »

Online Roy H.

  • Forums Manager
  • James Naismith
  • *********************************
  • Posts: 37521
  • Tommy Points: -27475
  • 33,333 posts and counting . . .
The lower and lower middle class have most likely not improved in this economy, which would be the majority of the households.

What are you basing this on?


Once a CrotoNat, always a CrotoNat.  CelticsBlog Draft Champions, 2009 & 2012;
DKC Draft 2015 Champions and beyond...

 

Hello! Guest

Welcome to the CelticsStrong Forums.

Community

Signup to win FREE tickets

* indicates required