Trump: Our Country is doing GREAT. Record Jobs Numbers and Stock Market, BEST ECONOMY EVER! | Crypto Craft
Comment Options
Eurorally
5 hr ago
Permalink
You guys make me laugh: The excellent state of the national economy is taken as a given and president's enemies are nitpicking on anything that can be invented.

Prices are through the roof and the grocery prices must be controlled as Harris said in her economic plan and as the "bipartisan bills" in various legislations insist?

The truth of the matter is that the prices of most goods are lower than 50 years ago ! (My supermarket with 300 stores sells a dozen of eggs this week for 50 cents! No, they are not "expired." We had those desperados who predicted the end of the world when the price of eggs shot up to more than $10 a dozen last year because of the bird flu when tens of thousands of chickens had to be slaughtered.)

The exceptions are (1) the price of gas, caused by closing of Hormuz that, as we hope, is temporary ("the oil glut is coming" says an article two days ago) and (2) the price of housing caused by high demand and the fact that the average new house 50 years ago was 1,700 sq ft. while it is 2,500 sq. ft. today.

The prices in our capitalist economic system are determined by supply and demand without any human intervention as the Nobel Prize Laureate in Economics von Hayek tells us in his writings. At the same time, competition in the market pushes the prices to an absolute minimum at which the producers and retailers can still make a reasonable profit to make it possible for them to stay in business. Nobody who does not observe this simple dictum of the market can stay in business for long.

The inflation over the last 50 years has been 560%. That means a $1.00 in 1975 is worth $6.60 today (not just $5.60). The average compounded inflation over the last 50 years has been 3.48% per year.

The upshot is that the growth in the US household incomes exceeds the rate of inflation over the last 50 years !

We need a low positive inflation to protect us against the dreaded deflation whereby producers and retailers are unable to recover their costs and a wave of bankruptcies ensues. Yet, the Fed's 2% inflation target, emulated by the central banks world over, has not been a result of any scientific economic study but it has been pulled out of the thin air.

Please, take all this from this economist.
Reply
ww3361
5 hr ago — Edited
Permalink
Very misguided. Please take this from a quant.
Years of intervention has created a very short term and fragile capital structure. This fragile system is therefore addicted to life support.

Structurally we are living in yellowstone park, early 1988. Years of fending off fires has created the perfect tinderbox.

Your rhetoric has the dopamine laced familiarity of a proud asset owning boomer. An atrophied brain that lacks imagination and inhibited from creating anything new.

A night out in London costs me about 1.75x that of 2019. Food is smaller, less inspired and tables turned faster. The multiples of annual average earnings homes cost has plateaud though, so some good news: But guess what… it means boomers are starting to get nervous.

If quoting Austrian school, at least do so correctly.

Personally, I’m looking forward to the much needed bush fire. Good riddens. May capital finally flow to quality once more.
Reply
ww3361
4 hr ago
Permalink
To add. The only countries I’ve spent anytime in, in the last few years to not be totally ravaged by inflation, including the very obvious wealth gap it’s created, are Malaysia, Thailand, Vietnam. But… they too are now changing fast in the last year or 2.

A B&B in Seville cost about the same per night as the most luxurious hotel in bangkok. That was not the case a few years ago.

As long as capital resides with those that cannot wield it creatively. And as long as governments continue to protect them: Inflation will remain out of control. The wealth gap will grow.

Go outside and see for yourself.
Reply
View 1 reply to ww3361
Hide reply to ww3361
apelikeman
24 min ago
Permalink
You present a lot of anecdotal evidence, which makes me question whether you're really an economist, or just some kid in his mom's basement, spewing garbage. I'm guessing it's the latter.
Reply
View 1 more reply to Eurorally
Hide reply to Eurorally
b_hand
7 hr ago
Permalink
Thats mean sell stock market
Reply
Trader#482B
6 hr ago
Permalink
That's right, today anyone in the market needs to be very careful, because Trump is greatly affecting market sentiment, and I believe much of it is intentional.
Reply
View 0 more replies to b_hand
Hide replies to b_hand
E.Seitan
7 hr ago
Permalink
This is just something else...
Having to tell the people, "Y'all are doing great, you just don't know it," is something Trump is doing quite often. It isn't that smart, since telling a struggling individual about how great he is having it does nothing but alienate him. Having a country which is doing great is something the average person should say because they feel that, not because their leader says so...
Reply
TSW
7 hr ago
Permalink
Straits are closed
Reply
Nasircrown
3 hr ago
Permalink
This man trump
Reply
Trader#56E7
7 hr ago
Permalink
Own Benefit
Reply
Trader#8500
7 hr ago
Permalink
NO
Reply
Trader#E775
7 hr ago
Permalink
This old man forget to eat medicine again and dreaming too much zZzzz
Reply
Trader#0AC9
7 hr ago
Permalink
Stock market always made a record high before the bust, so...
Reply
Trader#4D15
7 hr ago
Permalink
Awesome! Congratulations to Trump and the United States!
Reply
Trader#75A0
6 hr ago
Permalink
What a loser. Worst leader ever.
Reply
Trader#1322
4 hr ago
Permalink
How long will it last? If IRAN doesn't give you oil? In 4 weeks the entire American economy will collapse, then your numbers won't mean anything? !!
Reply
  • Story Stats

  • Related Stories