Maybe try to get an education, and you will be able to get a job. And also never say, "I am white, so I deserve..." Maybe say, "I can do that, so you want to hire me."
Another Thing trump Takes Credit For Turns To Shit
- Thread starter Walt
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Maybe try to get an education, and you will be able to get a job. And also never say, "I am white, so I deserve..." Maybe say, "I can do that, so you want to hire me."
Never let a crisis go to waste ... right walter.
I guess you don't remember 0bama and his economic advisors telling us to get used to the new normal ... our booming economy wasn't coming back.
Those jobs we lost ... gone forever ... that stagnant growth rate of about 1-2% ... get used to it ... I have no magic wand to wave ... this is the new normal.
Any of this ringing some memory bells walter.
I have often wondered about the intelligence of those idiots who go out in frigid temperatures wearing shorts and a winter jacket. The GF's kid
does that, but he's a libturd and has not been laid off during this virus outbreak. Of course, he went crying to his boss to lay him off because he
is "experiencing overwhelming anxiety and his kids need him." His boss didn't agree, told him to come to work or he's fired. He's been bitching ever since...
That really will not help the fracking industry. They need demand, but they need capital even more. If demand returns without capital, then someone else will fill the oil needs. Fracking is extremely capital intensive, and more than that small cap capital intensive. It requires a lot of very cheap capital.
They just wiped out $2 trillion in the scariest market malfunction that anyone has ever seen. It used to be the assumption was oil could not go to zero, but now we know oil can go to a negative price. Investors can never unsee what they have just seen. The price of capital will have to be much, much higher. There is no way for them to get the very cheap capital again.
Now here is a question, was it an accident? trump either messed up on what he was telling everyone, he did it on purpose, or someone else took advantage of his confusion.
Who could that be? OPEC wanted to get rid of the frackers, as did the major oil companies. I am not saying they did this on purpose, but it certainly has been done.
it's a crying shame..we were doing so well under the TRUMP ECONOMY..worst of all (politically) wingnuts like WALT
( and many far worse) now trot out the meme about "job losses by Trump"
like this shit
and Clinton, and Madeline Albright, and Bush and the rest of the globalist dweebs who said
"just bring China into the modern economy -that will tame those barbarians"
Oh, no... Not fine at all. The economy was teetering on the edge of a recession. The only question was whether that recession was going to happen before or after the election.
Lets take the Wayback Machine back to before Covid-19. Obama gave us the longest economic expansion in American history. We had very low unemployment, very low inflation, and moderate stable growth. trump wanted to increase that moderate growth to something better. he had a massive tax stimulus, that drove up the deficit, but did nothing good. The stock market started getting soft, so he encouraged corporations to keep no cash on hand. This backfired when the repo market totally froze up, and almost all the S&P 500 came close to going bankrupt. The Fed had to print money, not to fight deflation, but rather to keep the private sector from collapsing.
And we are not even talking about the trade wars and trade uncertainty. The trade wars hit farmers hard, but because they are not a major part of the economy, it did not tip us into recession. The trade uncertainty hit future investment hard. No one wants to build a factory when they cannot guarantee supply lines for a decade or two. Again, that did not tip us into recession, but we will be looking at lower growth for years because of it.
trump deserves the credit/blame for things that changed from Obama. There was nothing that changed in a good way.
The longest economic expansion in history started 7 years before trump was elected, so there is no way trump deserves credit for that.
Obama inherited the Great Recession, and turned it around into the longest economic expansion. That is called turning it around.
Because you are delusional? trump is still in his first term. The longest economic expansion could not have started after he took office and still be the longest economic expansion. It lasted somewhere in the 126 to 128 month range. If it only started after trump took office, we would be talking about 36 months or so.
At least Earl is not delusional like Nazi RB. Maybe trump just was unlucky.
Horseshit ... it requires a demand that will push the price of oil and natural gas past the point where they can make a profit from fracking.
Same thing happened with the drop in oil prices in 2014 ... the fracking fields closed down ... economics 101 walter.
The oil industry will come back as demand returns ... this isn't a nefarious conspiracy ... it's economics 101.
Is it true you met Frank Sinatra? I would like to hear what your impression of him was. What was he was like in person.
It was Bush Senior who gave China most favored trading partner status.
Walter, you need an abundance of help.
Black is not white.
De nada, Walter.
Is today a school day, Walter?
Sure thing, kiddo. lol
There is a whole slew of the worst bankruptcies ever that are happening. I can not stress this enough, this is the biggest market malfunction ever. Frackers cannot stop pumping oil, and every barrel they pump is costing them money to get rid of. It is beyond bankruptcy, there will be no assets to distribute at the end of this. The bankruptcy courts do not even have a procedure for a company continuing to lose money from its very operation, but needing to continue to operate.
So lets say frackers need to try to get capital and normal business lines of credit again. Lets take a hypothetical fracker who needs a billion dollars in capital, and a billion dollars in business credit. The promise is a return of 4% on both. The problem is everyone is going to remember the last time when both lost EVERYTHING, so the possibility of 4% will simply not do it. Already frackers need at least a $50 a barrel oil to pay that 4%, so much higher would require very high costs per barrel.
But remember, this is the biggest market malfunction in history, so we are talking about much higher. That stays in people's minds for a long time. People will be talking about this in a thousand years.
A mild market slowdown is not comparable to the biggest market malfunction in the history of markets.
You really cannot close down a fracking field. It needs to keep operating until it is finished. That creates a risk that people thought they were managing. They knew oil might go to $20, but they thought no lower. It turns out zero is not the bottom. No one is going to forget that.
No, I never met Sinatra. I guess our lives overlapped a little, but I am much younger than him, and do not travel in any of the same circles as he would.
garbage.. .we;ve been hearing that since Trump took office. The economy was booming across all sectors -good job growth and WAGE INCREASES for lower income percentile workers -not seen under Obama
You didn’t answer the question, Walter.
Quote Originally Posted by Earl
What is the reason for the economic loss around the world, Walter?
I am educated Walt. I learned from those older than myself who have experience in the manufacturing environment, not some wannabe college professor who doesn't have a damn bit of experience in hands-on production. Like I've said before, it's obvious you have no experience when it comes to hiring. Oh, by the way, did you notice from my previous posts that I recommended a Puerto Rican for (and he got) my position as manager after I retired? He got it because he showed an interest in learning things he wasn't taught in high school, things the "college grads" didn't care to because it was "hard labor."
I don't need a job Walt, I retired at the age of 58 (well, a few weeks before I turned 59) as a machine shop manager.
Yessiree, I'm white, but that never played a factor with any job I've ever had. Why should it have? Does ethnicity play a part for you? Do you even work at all?
The jobs we have lost to automation are lost forever. We are not getting them back. But the growth was a bit better than you say, and 2% is not stagnant. Growth was as high as 5.5%, but averaged closer to the low 2's. It was moderate.
There was hope that automation would lead to massive productivity growth, but it was hard to figure out a way to bring workers along for the ride. This is the new problem facing economists and policy makers.
Meanwhile, trump hopes to get massive numbers of people digging coal, just like a hundred years ago.