trump has either been lying about what his tariffs will do to the economy, or he himself doesn't understand what they will do

[lustylad]

Originally Posted by tommy156

The point is, prices will still be rising. They won't be going down, as falsely promised.

So you think there's no perceptible difference between 9% annual inflation and 1-2% inflation? You don't understand how the CPI (Consumer Price Index) is calculated, do you? It's based on a weighted basket of commodities consumed by the average American household.

When inflation is low (i.e. 1-2%), some prices go up and others go down each month. The overall change in the index is just a weighted average of all those changes.

But when inflation is rip-roaring high like it was under the disastrously spendthrift policies of Biden/Harris, prices go up ACROSS THE BOARD. That's what pissed off so many voters.


trump knows nothing about the economy...

And Biden/Harris do? Sorry tommy, but your comments on the economy make me cringe. I would love to see you join in one of the threads in the national Political Forum where we discuss economic matters. Tiny and Texas Contrarian would rip you to shreds. I would join in, too.

Trump has a degree from the Wharton school. Where did you study economics?


How anyone can think he's some sort of financial genius is ludicrous.

Straw man argument. Nobody calls trump a financial genius. I do think he's good at recognizing talent, which means he'll surround himself with smart people. Instead of worshiping at the altar of DEI, like Biden did in staffing his incompetent administration.


And he's still either lying about what his tariffs will do, or he himself doesn't understand what they will do. Either way, gas and groceries won't be getting cheaper any time soon.

You're the one who doesn't understand tariffs, tommy. They won't affect gas/oil prices. Moreover, since the US is a net exporting breadbasket of agricultural products, tariffs will have only a minimal impact on grocery prices... unless you're one of those coastal elite snobs who demand French wine and Belgian brie because Napa wine and Wisconsin cheese aren't good enough for your pretentious palate.

[lustylad]

Originally Posted by tommy156

Economies are not made in a single term. They are inherited. trump was gifted a strong economy thanks to Obama's wildly successful 2nd term.

Lol - I would hardly view Obama's 2nd term as "wildly successful". By what measure was the Obama economy "strong"? Real GDP growth slowed to 1.8% in Obama's last year in office (2016). It accelerated again to 2.5% in trump's first year (2017).

Originally Posted by tommy156

trump's tariffs were part of how he exploded the debt by nearly 8 trillion in 4 years. He either doesn’t understand how they work, or he's lying.

Huh? Exactly how do tariffs "explode the debt"? Most economists think the opposite is true. Revenues from tariffs make the federal deficit smaller, thereby reducing our need to borrow and add to the debt.

[HDGristle]

https://www.ers.usda.gov/topics/inte...e-at-a-glance/

You both want to double check your understanding of what we import. Skip aways down

[lustylad]

Originally Posted by bambino

Joey Bribes exploded the debt 12 trillion.

Originally Posted by tommy156

Wrong.

Biden added $4.3 trillion to the debt. Roughly half of what trump added.

Yinz are both wrong.

Under trump, the debt rose by $7.85 trillion. Importantly - almost 60% of that increase occurred in 2020, due to emergency covid relief spending. During trump's first 3 years, our debt was growing by roughly $1 trillion each year, before covid caused it to explode in Year 4.

Biden is on track to SURPASS trump in terms of debt accumulation during his own four-year term. (Unlike trump, he can't blame most of it on covid.) Through last September, Biden added $7.68 trillion to our national debt. And he still has a few more months to go.

Biden will leave trump with a massive structural federal spending deficit of around $2 trillion a year. That's roughly 7% of GDP. Elon Musk and Vijay Ramaswamy can't go to work fast enough!

https://www.statista.com/statistics/...ates-by-month/

[lustylad]

Originally Posted by HDGristle

You left out the impact of Trump's deal with the Saudi's that he "masterfully" negotiated and then fucked us on when he didn't live up to his end.

Keep telling you guys, listen to Mr. Global.

No idea what you're referring to.

Start another thread if you want to circulate dumb conspiracy theories.

Daniel Yergin, you ain't.

[HDGristle]

I know you don't lusty... but it's no conspiracy. Just fact.

[tommy156]

So you think there's no perceptible difference between 9% annual inflation and 1-2% inflation? You don't understand how the CPI (Consumer Price Index) is calculated, do you? It's based on a weighted basket of commodities consumed by the average American household

Lol. The current annual inflation rate is 2.4%. Your entire argument is based on a false premise

And if you think trump did anything at all to earn that phony baloney economics degree from Wharton, the rest of your posts suddenly make a little more sense.

I repeat, prices won't be going down any time soon. trump's dumbass tariffs will make sure of that.

[lustylad]

Originally Posted by tommy156

So you think there's no perceptible difference between 9% annual inflation and 1-2% inflation? You don't understand how the CPI (Consumer Price Index) is calculated, do you? It's based on a weighted basket of commodities consumed by the average American household

Lol. The current annual inflation rate is 2.4%. Your entire argument is based on a false premise

No, the fact that inflation has slowed again just makes my point more obvious. At 2.4%, you can find more declining components in the CPI than you can at 9% inflation.


And if you think trump did anything at all to earn that phony baloney economics degree from Wharton, the rest of your posts suddenly make a little more sense.

Wow. You consider a degree from Wharton to be "phony baloney"? You just insulted tens of thousands of Wharton grads who - unlike you - have a deep, genuine understanding of business and economics. The list includes John Scully, Peter Lynch, Sundar Pichai, Ron Perelman, Nassim Taleb, and Elon Musk, along with many others.

https://en.wikipedia.org/wiki/List_o..._School_alumni

Where did you earn a degree again? East Podunk Community College?


I repeat, prices won't be going down any time soon. trump's dumbass tariffs will make sure of that.

I repeat, your penchant for making sweeping generalizations always gets you in trouble.

Even if the overall CPI is higher a year from now, there will still be plenty of individual prices that are lower than today.

[lustylad]

Why can't the OP answer a few simple questions?

1. By what measure(s) was the Obama economy "strong"?

2. How do tariffs "explode the debt"?

3. How much has Biden added to the debt - $4.3 trillion? Or $7.7 trillion and counting?

[tommy156]

trump's degree from Wharton was phony baloney, not all degrees from Wharton. Jesus Christ already. It's hard to even have these conversations when they're not done in good faith.

Biden added $4.3 trillion to the debt. That's already been established, and with receipts.

Obama's economy was so strong that trump was bragging it up as the greatest the world's ever seen - only he was taking credit for it. Lol.

He started taking credit for "his economy" in the summer of 2017, which was quite literally still Obama's last fiscal year (the real trump economy began on 10/1/17 - he had already been bragging about it for months by then).

It's also clear he's either lying about who pays his tariffs (we do, the American consumer pays them) or he really does think the country of origin pays them. He's either lying or he's a moron. Take your pick.

[lustylad]

Originally Posted by tommy156

trump's degree from Wharton was phony baloney, not all degrees from Wharton.

Ok then, care to elaborate? What makes trump's degree "phony", whereas those earned by thousands of other Wharton grads are legit? Are you suggesting he "pulled a Teddy Kennedy" - i.e. he cheated his way through graduation? If so, show us proof.


Biden added $4.3 trillion to the debt. That's already been established, and with receipts.

Wow. You obviously misread your own "receipts". Are you really going to force me to do this all over again?

Here's what the gross national debt was in Jan. 2021 - $27,785 billion. Here's what it hit in Sept. 2024 - $35,465 billion. Can you subtract the former from the latter? Please do that and get back to us! And don't forget - Biden still has a few months left to keep growing the debt so his final number will surpass trump's (pandemic-distorted) total!


Obama's economy was so strong that trump was bragging it up...

I don't give a fuck what trump was bragging about. I do give a fuck what the economic data tells me. By what measure(s) was the Obama economic record "strong"? Show some receipts. GDP, inflation, jobs, real income, etc. You do know how to read and interpret economic data, right? I already cited the growth slowdown in Obama's last year (2016).


It's also clear he's either lying about who pays his tariffs (we do, the American consumer pays them) or he really does think the country of origin pays them. He's either lying or he's a moron. Take your pick.

It's only a binary question if you are incapable of grasping nuances. Yes, the incidence of a tariff usually falls partly on the domestic consumer, insofar as the cost is tacked onto the retail price of the imported good. However, that doesn't mean the country of origin (or exporter) gets off scot-free. Higher prices make imported products less competitive, and this usually results in weaker sales.

So it's not "take your pick" - trump is partly right, even while he is partly in denial.