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Trump Effect - Household Income Hits 15-Year High

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  • Originally posted by MrOilers View Post
    Unemployment rate is lowest in 50 years, payrolls rise by 136,000 as economy reaches full employment:

    https://www.cnbc.com/2019/10/04/jobs...-NzWW83x_YL9HM
    Watch that video I just posted. Note how unemployment can continue to fall Well into a recession getting underway. Also note Shillings comment on the trillions of dollars no one cares about.

    Trump has borrowed and spent - just like Obama.

    Also look around you - low interest rates now have every second Edmontonian (and probably Russian) driving a luxury car/SUV. In the US, consumers go even crazier with binge spending due to low interest rates. (Think of the taxing and other conditions that set the stage for the “Roaring 20s” and then the 1929 Stock Market Crash and the 1930s Great Depression.
    Last edited by KC; 20-10-2019, 07:02 AM.

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    • Where’s the outcry? Trump’s Tariffs are a bit like the hated carbon tax that hits people that can’t do anything to avoid using oil. The tariffs can be hitting people that don’t have a choice but to buy the Chinese goods.

      $70 billion though is pocket change in terms of their big picture.

      U.S. Collected a Record $7 Billion in Tariffs in September - WSJ

      “ “It’s a massive expansion of taxation on American employers and consumers,” said Peter Bragdon, chief administrative officer of Columbia Sportswear Co., whose firm had many apparel items hit in the latest tranche of tariffs. The company has notified customers that they would have to raise prices on many of those items, he said.”

      “ In the 12 months through September, the U.S. brought in more than $70 billion in tariffs, according to data from the Treasury Department. That figure is about double the amount of tariff revenue from before the trade war.”

      https://www.wsj.com/articles/u-s-col...er-11573052402
      Last edited by KC; 10-11-2019, 07:36 AM.

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      • Trump is lying about the ‘new’ ‘Apple’ factory
        It is neither new nor an Apple factory

        By Russell Brandom o


        In advance of Trump’s factory tour today, I took a look at the strange relationship that’s developed between Tim Cook and Donald Trump over the past three years. One of the things that popped up was one specific story that Trump would tell about Apple, in rally after rally and meeting after meeting. The idea was that Trump had somehow induced the company to build a new factory in the US, through some combination of tax cuts and trade policy, which was both very politically useful and also very much not true.


        Today, perhaps not surprisingly, he told the lie again.

        “We’re seeing the beginning of a very powerful and important plant,” Trump said at the factory. “Anybody that followed my campaign, I would always talk about Apple, that I want to see Apple building plants in the United States. And that’s what’s happening.”

        This is not true for a couple reasons — one of them nitpicky and one of them a lot more serious. The nitpicky problem is that Apple isn’t actually building a manufacturing plant. The company is building a new campus in Austin, but it’s miles away from the factory and the jobs are going to be very similar to the kind of white-collar design and engineering work that Apple does in Cupertino. Apple doesn’t do its own manufacturing, and the plant Trump is standing in belongs to a contractor called Flex Ltd (formerly Flextronics).

        THE FACTORY TRUMP CLAIMS HE “OPENED” WAS OPENED UNDER OBAMA
        But the bigger problem is that what Flex is doing isn’t anything new. This particular factory has been manufacturing Mac Pros since 2013, when Cook first announced it would assemble them in the United States. That’s before Trump took office. So the idea that we’re seeing the beginning of something, or that Trump has done something during his presidency to bring about this particular instance of US manufacturing, just doesn’t hold water.


        Trump is talking as if Apple has created a brand-new factory in Texas to build Mac Pros. If all you saw was a five-second clip on the news, that’s probably the impression you would get — but it just isn’t true
        Advocating a better Edmonton through effective, efficient and economical transit.

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