Mainstream Economics Thread

[Rage Against the McKee]

Netflix has to be feeling pretty good about themselves.

[CNS]

The My Pillow guy is going to cut the crap out of those interest rates!

[michigancat]

Viewers of this blog are once again reminded that in the middle of the Biden Presidency (when we should have been going gang busters in a post Covid recovery)

The Dow: Dropped 28%
S&P 500:  Dropped 50%
Nasdaq: Dropped 33%

But that was a period when the market was NOT the economy . . . I repeat - THE MARKET WAS NOT THE ECONOMY!!

dax over what time period during Biden's term did the s&p 500 drop 50%

[Dugout DickStone]

Viewers of this blog are once again reminded that in the middle of the Biden Presidency (when we should have been going gang busters in a post Covid recovery)

The Dow: Dropped 28%
S&P 500:  Dropped 50%
Nasdaq: Dropped 33%

But that was a period when the market was NOT the economy . . . I repeat - THE MARKET WAS NOT THE ECONOMY!!

dax over what time period during Biden's term did the s&p 500 drop 50%

this smells like an amuse tweet he just pasted

[sonofdaxjones]

Viewers of this blog are once again reminded that in the middle of the Biden Presidency (when we should have been going gang busters in a post Covid recovery)

The Dow: Dropped 28%
S&P 500:  Dropped 50%
Nasdaq: Dropped 33%

But that was a period when the market was NOT the economy . . . I repeat - THE MARKET WAS NOT THE ECONOMY!!

dax over what time period during Biden's term did the s&p 500 drop 50%

Correction a 25% drop. From 12/31 to October of the following year.

So we had Dow and NASDAQ "corrections" of 28% and 33%, and a SP "correction" of 25%.

 #blueanon apparatchiks and talking heads had this period as a period when the market was not the "real economy".

Note to viewers of this blog, #blueanongE will now completely fixate on my mistake, and wholly avoid the massive market correction that occurred in the middle of President Robo Pen's administration that they they didn't meltdown about the least little bit . . . and their thought leaders worked dilligently to remind us that the market is not the real economy and that they'd know a recession when they saw it and then let us all know. 

[michigancat]

Viewers of this blog are once again reminded that in the middle of the Biden Presidency (when we should have been going gang busters in a post Covid recovery)

The Dow: Dropped 28%
S&P 500:  Dropped 50%
Nasdaq: Dropped 33%

But that was a period when the market was NOT the economy . . . I repeat - THE MARKET WAS NOT THE ECONOMY!!

dax over what time period during Biden's term did the s&p 500 drop 50%

Correction a 25% drop. From 12/31 to October of the following year.

So we had Dow and NASDAQ "corrections" of 28% and 33%, and a SP "correction" of 25%.

 #blueanon apparatchiks and talking heads had this period as a period when the market was not the "real economy".

Note to viewers of this blog, #blueanongE will now completely fixate on my mistake, and wholly avoid the massive market correction that occurred in the middle of President Robo Pen's administration that they they didn't meltdown about the least little bit . . . and their thought leaders worked dilligently to remind us that the market is not the real economy and that they'd know a recession when they saw it and then let us all know. 

huh I wonder why people might have reacted differently back then. was that dip directly caused by a wild abuse of executive power that caused a worldwide financial meltdown?

probably just good ol' partisanship

[sonofdaxjones]

Viewers of this blog are once again reminded that in the middle of the Biden Presidency (when we should have been going gang busters in a post Covid recovery)

The Dow: Dropped 28%
S&P 500:  Dropped 50%
Nasdaq: Dropped 33%

But that was a period when the market was NOT the economy . . . I repeat - THE MARKET WAS NOT THE ECONOMY!!

dax over what time period during Biden's term did the s&p 500 drop 50%

Correction a 25% drop. From 12/31 to October of the following year.

So we had Dow and NASDAQ "corrections" of 28% and 33%, and a SP "correction" of 25%.

 #blueanon apparatchiks and talking heads had this period as a period when the market was not the "real economy".

Note to viewers of this blog, #blueanongE will now completely fixate on my mistake, and wholly avoid the massive market correction that occurred in the middle of President Robo Pen's administration that they they didn't meltdown about the least little bit . . . and their thought leaders worked dilligently to remind us that the market is not the real economy and that they'd know a recession when they saw it and then let us all know. 

huh I wonder why people might have reacted differently back then. was that dip directly caused by a wild abuse of executive power that caused a worldwide financial meltdown?

probably just good ol' partisanship

I love how you guys start crying about "wild abuse of executive power" only when a Republican is President.

We had (just one example) an executive branch that was funneling collectively billions to NGO's to traffic people into the country.  The same executive branch (still the same example) signed numerous EO's about immigration - and then turned around and claimed that their hands were tied, and that they couldn't do anything about our open borders.     (insert Al up on the hill claiming our borders were secure here)

(2nd example) - Student debt forgiveness

[michigancat]

lol

[sonofdaxjones]

Oh cRusty . . . it's just so sad with you anymore 

[Stevesie60]

When should we expect the markets to be where they were when Trump took office, dax? And what would have to happen to make you say "maybe Trump shouldn't have started a trade war with every country"?

[sonofdaxjones]

When should we expect the markets to be where they were when Trump took office, dax? And what would have to happen to make you say "maybe Trump shouldn't have started a trade war with every country"?

I don't think he should have started a trade war with every country, and I'll come back to that in a moment.

Is there where I insert the videos of every Wall Street titan who ever existed talking about how if you don't have a stomach for markets falling then you shouldn't be in the market? Is this where I have to remind you (again) that big mega corps were warning about the first quarter for a variety of reasons unrelated to Trump last year? 

Now back to trade . . . Stevsie, when are you going to come clean and just admit that you prefer your politicians to just be virtue signalers who spend decades running a grift on unfair trade but never actually see to it that something changes?  One of your lead dudes has been  about trade for 30 years (edit: He  about the border for 24 of those 30 years and talked - just like Joe about illegal immigration being the domain of wealthy Republicans). 

Trump has been too broad brushed, and he needs to get the deals with the Japans, Taiwan's and Vietnam's of the world done ASAP.

[michigancat]

Dax, do you really not see how people might feel differently about this market downturn compared to others? For example, I don't blame Trump for the downturn in 2020 at all. Can you think about what might be different in those two instances?

[wetwillie]

It's because of the credit card debt of the American consumer and because Biden left Trump a nuclear bomb waiting to happen

[Rage Against the McKee]

It's because Jerome Powell won't cut interest rates to 1%.

[steve dave]

Sent from my iPhone using Tapatalk

[steve dave]

on the scale of GREATEST GRIFTS OF ALL TIME where does this crap fall Dax?

https://x.com/WatcherGuru/status/1914661173506560324

[Institutional Control]

Sent from my iPhone using Tapatalk

[steve dave]

https://x.com/DeItaone/status/1914668874290626967

https://x.com/M_McDonough/status/1914668447021097376

[star seed 7]

That got damn Biden 

[sonofdaxjones]

Viewers of this blog are reminded that the previous administration spent approximately $29 Trillion Dollars and artificially inflated payrolls with government hiring and government subsidized hiring.

#blueanongE and #blueanon believes that could go on forever and ever and there would never - ever be any consequences.

In the midst of the artificial floating of the economy the market lost on average, 30% of its value.  #blueanon/#blueanongE said nothing.

Viewers will also note - The market is now once again the economy. Stay tuned for when it reverts to not being the economy.  #blueanon will let us know.   

[sonofdaxjones]

Dax, do you really not see how people might feel differently about this market downturn compared to others? For example, I don't blame Trump for the downturn in 2020 at all. Can you think about what might be different in those two instances?

I absolutely know the differences.

But what you're really saying cRusty is that you're fully aligned with just talking and talking and talking about trade deficits and unfair trade (I am going by what your thought and political leaders have said for decades now) . . . but never actually doing anything about it.  The Washington way is to just talk and talk and just keep kicking the can down the road, and never solving or resolving anything. 

Then hit the campaign trail, pound the lectern about how unfair it all is and vote for me . . . I'll fix it . . . if we live to be 135 (maybe)

[Institutional Control]

Concern about trade deficits seems dumb.  We consume more than any other country, it makes no sense to assume other countries could import as many American goods as they export to us.  For every $ of coffee Colombia exports they should import an equal amount of wheat or corn?  Someone explain to me why I should be concerned.

[michigancat]

Dax, do you really not see how people might feel differently about this market downturn compared to others? For example, I don't blame Trump for the downturn in 2020 at all. Can you think about what might be different in those two instances?

I absolutely know the differences.

But what you're really saying cRusty is that you're fully aligned with just talking and talking and talking about trade deficits and unfair trade (I am going by what your thought and political leaders have said for decades now) . . . but never actually doing anything about it.  The Washington way is to just talk and talk and just keep kicking the can down the road, and never solving or resolving anything. 

Then hit the campaign trail, pound the lectern about how unfair it all is and vote for me . . . I'll fix it . . . if we live to be 135 (maybe)

You are correct that I am fully OK with trade deficits.

whatever the white house is doing does not seem to be doing anything about "unfair trade" IMO. Could you point to a specific "unfair trade" practice that is being addressed?

[sonofdaxjones]

Dax, do you really not see how people might feel differently about this market downturn compared to others? For example, I don't blame Trump for the downturn in 2020 at all. Can you think about what might be different in those two instances?

I absolutely know the differences.

But what you're really saying cRusty is that you're fully aligned with just talking and talking and talking about trade deficits and unfair trade (I am going by what your thought and political leaders have said for decades now) . . . but never actually doing anything about it.  The Washington way is to just talk and talk and just keep kicking the can down the road, and never solving or resolving anything. 

Then hit the campaign trail, pound the lectern about how unfair it all is and vote for me . . . I'll fix it . . . if we live to be 135 (maybe)

You are correct that I am fully OK with trade deficits.

whatever the white house is doing does not seem to be doing anything about "unfair trade" IMO. Could you point to a specific "unfair trade" practice that is being addressed?

cRusty - I'm going by what people like Bernie Sanders and Chuck Schumer have said for years. So go ask them.

In terms of things like IP theft by the Chinese, that's not even debatable.

Here's what #blueanon's most favored AI engines say:  Chinese dumping and government subsidization and state owned businesses.  FTT - Forced Technology Transfer.  Illicit counterfeiting. Highly restricted market access. Subsidization leading to flooding the market with cheap goods. 

BTW - We're not the only country lodging these complaints specifically against the Chinese . . . there's a long line of countries saying the same thing.

[michigancat]

Dax, do you really not see how people might feel differently about this market downturn compared to others? For example, I don't blame Trump for the downturn in 2020 at all. Can you think about what might be different in those two instances?

I absolutely know the differences.

But what you're really saying cRusty is that you're fully aligned with just talking and talking and talking about trade deficits and unfair trade (I am going by what your thought and political leaders have said for decades now) . . . but never actually doing anything about it.  The Washington way is to just talk and talk and just keep kicking the can down the road, and never solving or resolving anything. 

Then hit the campaign trail, pound the lectern about how unfair it all is and vote for me . . . I'll fix it . . . if we live to be 135 (maybe)

You are correct that I am fully OK with trade deficits.

whatever the white house is doing does not seem to be doing anything about "unfair trade" IMO. Could you point to a specific "unfair trade" practice that is being addressed?

cRusty - I'm going by what people like Bernie Sanders and Chuck Schumer have said for years. So go ask them.

In terms of things like IP theft by the Chinese, that's not even debatable.

how do the tariffs address IP theft? I haven't heard the President mention it once.

Here's what #blueanon's most favored AI engines say:  Chinese dumping and government subsidization and state owned businesses.  FTT - Forced Technology Transfer.  Illicit counterfeiting. Highly restricted market access. Subsidization leading to flooding the market with cheap goods. 

BTW - We're not the only country lodging these complaints specifically against the Chinese . . . there's a long line of countries saying the same thing.

Anti-dumping has been ongoing - there's a variety of product categories with Chinese anti-dumping measures in place. My industry has some that came into effect during the Biden administration. FTT and Illicit counterfeiting? Again, never heard the president mention those items or outline how these tariffs will address them although they do seem like reasonable diplomacy/trade goals.

Also, what are other countries doing against the Chinese? Are they also raising tariffs to ridiculous levels? Who?