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Trump's economic dilemma

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  • #16
    Originally posted by seanD View Post
    Peter Schiff is probably the only one I've heard that lays out all the issues in one video...



    Just to be clear, he voted for Trump. His actual economic analysis in relation to Trump is at around 9:00. It's a complex issue, so I'll try and summarize it as simply as I can later when I have time.
    Let's just hope he doesn't run the country the same way he ran many of his businesses.
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    • #17
      Originally posted by seanD View Post
      The purpose of the thread is to focus on the economy from a realist perspective. It's not a thread to bash Trump.
      How am I 'bashing Trump'? He made a bunch of campaign promises - as all politicians do - and the reality of the office hits, and they can't do as much as they thought they could, even if they were sincere and honest about intending to do so.

      The situation would have been just as dire if Hillary came into office. Though Schiff did point out that picking Trump might have been the better choice for us in the aftermath of it all.
      I think Hillary would have been a much greater disaster.
      The first to state his case seems right until another comes and cross-examines him.

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      • #18
        Originally posted by The Thinker View Post
        Let's just hope he doesn't run the country the same way he ran many of his businesses.
        The point Schiff was making was that it essentially doesn't matter what he does or how he does it, as the economic circumstances he entered into itself dictate the outcome.

        I wish people would watch the video first, or maybe they just don't understand what Schiff is saying in the video, which is why I tried to simplify it in post# 2 the best I could? Though I did see some grammatical errors I made, so maybe that's throwing people off.




        Originally posted by Cow Poke View Post
        How am I 'bashing Trump'? He made a bunch of campaign promises - as all politicians do - and the reality of the office hits, and they can't do as much as they thought they could, even if they were sincere and honest about intending to do so.



        I think Hillary would have been a much greater disaster.
        I was just reiterating the fact that I wasn't bashing Trump. I sort of got the sense people were getting a bit defensive.

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        • #19
          Btw, carnage in the bond market continues. Whether this is a sign of the bond market bursting or not, it's something I warned about here. It's not really Trump's fault though, as these bubbles were already ripe for the pricking. The three bubbles to keep an eye on is the stock, bond, and derivative bubbles.

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          • #20
            Originally posted by the thinker View Post
            let's just hope he doesn't run the country the same way he ran many of his businesses.
            this

            Originally posted by seand View Post
            the purpose of the thread is to focus on the economy from a realist perspective. It's not a thread to bash trump. The situation would have been just as dire if hillary came into office. Though schiff did point out that picking trump might have been the better choice for us in the aftermath of it all.
            Micah 6:8 He has told you, O man, what is good; and what does the LORD require of you but to do justice, and to love kindness, and to walk humbly with your God?

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            • #21
              Originally posted by seanD View Post
              Btw, carnage in the bond market continues. Whether this is a sign of the bond market bursting or not, it's something I warned about here. It's not really Trump's fault though, as these bubbles were already ripe for the pricking. The three bubbles to keep an eye on is the stock, bond, and derivative bubbles.
              Heard some interesting debate about gold today.
              The first to state his case seems right until another comes and cross-examines him.

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              • #22
                That's one thing I disagree with Pete on, is his stance on gold. But he's just one among a number of "gold bugs" that are deluding themselves. The thing about the gold and silver stacking community (though I don't necessarily put Schiff in this category) is that they stack gold and silver because they believe an economic apocalypse is coming where the dollar completely collapses and all hell breaks loose. The problem with that logic is that if and when that happens, gold and silver will be worthless. The common man and woman in the western world is going to be worrying about how to eat and protect themselves than to be concerned about acquiring gold and silver.

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                • #23
                  I remember a guy who used to hold up a "twenty dollar gold piece" and say something like.... "in 1820, this would buy a man's suit, tie and shoes". Then he would hold up a $20 bill and say "today, this $20 bill would barely buy the tie, but this twenty dollar gold piece will still buy a man's suit, tie and shoes".

                  In a drastic situation, however, yeah, you can't eat gold.
                  The first to state his case seems right until another comes and cross-examines him.

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                  • #24
                    Originally posted by Cow Poke View Post
                    I remember a guy who used to hold up a "twenty dollar gold piece" and say something like.... "in 1820, this would buy a man's suit, tie and shoes". Then he would hold up a $20 bill and say "today, this $20 bill would barely buy the tie, but this twenty dollar gold piece will still buy a man's suit, tie and shoes".

                    In a drastic situation, however, yeah, you can't eat gold.
                    I wouldn't recommend eating $20 bills, either.

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                    • #25
                      Originally posted by One Bad Pig View Post
                      I wouldn't recommend eating $20 bills, either.

                      Roughage.
                      The first to state his case seems right until another comes and cross-examines him.

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                      • #26
                        Originally posted by seanD View Post
                        ...Trump wants to both cut taxes but increase government spending (i.e. build up defense, create infrastructure jobs, better care for vets, etc.) at the same time. This is impossible unless he does one of three things:

                        A) Massively, and I mean massively, cut current government programs, including pensions and social security to free up enough money to fund his projects

                        B) Default/restructure the existing debt

                        C) Borrow the money
                        Trump could increase production in the USA, increase expenditure on infrastructure & the military, cut taxes and make foreign goods more expensive simply by devaluing the US$. And that could be done by printing money. In fact, Trump could implement dual currencies, one external and one internal - it has been successfully done by other countries for a time. As long as the cost of living and standard of living is stagnant or better for the average citizen all is good. The downside for some people is imports and overseas travel would be more expensive, the plus side is there would be revitalisation (read foreign investment) in manufacturing those goods currently imported and an increase in domestic tourism.

                        Internationally, for my country and others there is a big downside to this scenario = our currencies would increase in value against the US$, which would have a major impact on international trade.

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