The Trump recession

[normiss 619]

1 hour ago, billvon said:

Well, for example, his asking Cohen to cover for him led to Cohen's conviction on the Trump Tower coverup.

I believe Roger Stone is due to report to prison at the end of the month as well. Which I think is one reason POTUS is making some twitter noise about him.

[Phil1111 901]

Another company destroyed by trump. Soon he will have destroyed more companies than the lies he's told. Well almost.

'according to data from the American Bankruptcy Institute. The group reported 560 commercial Chapter 11 filings in April, a 26% increase from last year."

Notable bankruptcy filings:

Diamond Offshore Drilling,Frontier Communications,Gold’s Gym,Intelsat,J.Crew,John Varvatos Enterprises,Neiman Marcus,Stage Stores,Ultra Petroleum,Whiting Petroleum, and dozens more in trouble.

 

Edited May 26, 2020 by Phil1111

[DJL 232]

On 5/20/2020 at 2:03 PM, Phil1111 said:

Well there are these.    Now with the firings of all the IG's he is working on a whole new class of underlings, Consigliere and Caporegimes.

Ha, got it.  The punchline flew over my head. 

[turtlespeed 212]

On 5/20/2020 at 2:46 PM, billvon said:

Well, for example, his asking Cohen to cover for him led to Cohen's conviction on the Trump Tower coverup.

What is the percentage of what you claim are incarcerations due to Trumps direct actions vs Biden's direct actions in sponsoring the Crime bill?

 

[SkyDekker 1,119]

8 minutes ago, turtlespeed said:

What is the percentage of what you claim are incarcerations due to Trumps direct actions vs Biden's direct actions in sponsoring the Crime bill?

 

Neither one have a good record when it comes to this issue. One shows some growth and a better understanding, the other threatens shooting them.

Since you are a proud, patriotic American I think I can guess where you stand.

[turtlespeed 212]

3 minutes ago, SkyDekker said:

Neither one have a good record when it comes to this issue. One shows some growth and a better understanding, the other threatens shooting them.

Since you are a proud, patriotic American I think I can guess where you stand.

That doesn't even come close to answering the question.

[SkyDekker 1,119]

1 minute ago, turtlespeed said:

That doesn't even come close to answering the question.

Oh sorry, I thought you realized the question was idiotic. My bad.

[turtlespeed 212]

2 minutes ago, SkyDekker said:

Oh sorry, I thought you realized the question was idiotic. My bad.

Your answer was.

The question is real.

I'd like (Either Him or you - doesn't matter) quantify his remark, OR, you can simply admit his statement was idiotic, as you say, to start with.

[SkyDekker 1,119]

1 minute ago, turtlespeed said:

I'd like (Either Him or you - doesn't matter) quantify his remark

Maybe if you stop trolling so much people might be willing to indulge idiotic questions from you.

 

YMMV

[jakee 1,254]

4 minutes ago, turtlespeed said:

I'd like (Either Him or you - doesn't matter) quantify his remark, OR, you can simply admit his statement was idiotic, as you say, to start with.

His statement was a joke. It was also factually correct, in that a number of people are in prison for actions taken to help and protect Trump.

 

Now I'm curious - when I said that Mark was either lying or stupid for stating outright that there were no churches left in Edinburgh you whined and whined about how unfair that was when there could by some remote possibility be some other expanation, yet here you are now calling Bill's statement idiotic when you know it was simply humorous. How do you justify that contradictory behaviour?

[turtlespeed 212]

1 minute ago, jakee said:

His statement was a joke. It was also factually correct, in that a number of people are in prison for actions taken to help and protect Trump.

 

Now I'm curious - when I said that Mark was either lying or stupid for stating outright that there were no churches left in Edinburgh you whined and whined about how unfair that was when there could by some remote possibility be some other expanation, yet here you are now calling Bill's statement idiotic when you know it was simply humorous. How do you justify that contradictory behaviour?

That was humor?

[jakee 1,254]

9 minutes ago, turtlespeed said:

That was humor?

Yep. To be fair, any reference to Cohen being in prison for a dodgy payoff to Trump's pornstar girlfriend is funny, don't you think?

 

Now what about your double standard, any comment?

Edited May 29, 2020 by jakee

[billvon 2,379]

1 hour ago, turtlespeed said:

What is the percentage of what you claim are incarcerations due to Trumps direct actions vs Biden's direct actions in sponsoring the Crime bill?

 

None. Those are indirect actions.

Direct action - an action that resulted in someone committing a crime and going to jail for it.  For example, Trump telling Cohen to funnel illegal amounts of campaign contributions, or Trump encouraging Papadopoulous to lie about his contacts with Russia.  Those actions led directly to jail for those people.

Indirect action - an action that set up an environment in which it was easier to commit a crime.  Passing the 1994 crime law put exactly zero people in jail.  Once they committed crimes, they were then more likely to send themselves to jail.

To put it in language you are more likely to understand - "to stay out of jail, all you have to do is obey the law.  What's wrong with obeying the law?"

[Phil1111 901]

China has now told the US to go F*#k itself. The much touted trump trade deal? Like trumps brain, down the toilet.

"Chinese government officials told major state-run agricultural companies to pause purchases of some American farm goods including soybeans as Beijing evaluates the ongoing escalation of tensions with the U.S. over Hong Kong, according to people familiar with the situation, reports Bloomberg.

State-owned traders Cofco and Sinograin were ordered to suspend purchases, according to one of the people, who asked not to be identified discussing a private matter. Chinese buyers have also canceled an unspecified number of U.S. pork orders, one of the people said.

The halt is the latest sign that the Phase One trade deal between the world’s two biggest economies is in jeopardy."

[turtlespeed 212]

41 minutes ago, Phil1111 said:

China has now told the US to go F*#k itself. The much touted trump trade deal? Like trumps brain, down the toilet.

"Chinese government officials told major state-run agricultural companies to pause purchases of some American farm goods including soybeans as Beijing evaluates the ongoing escalation of tensions with the U.S. over Hong Kong, according to people familiar with the situation, reports Bloomberg.

State-owned traders Cofco and Sinograin were ordered to suspend purchases, according to one of the people, who asked not to be identified discussing a private matter. Chinese buyers have also canceled an unspecified number of U.S. pork orders, one of the people said.

The halt is the latest sign that the Phase One trade deal between the world’s two biggest economies is in jeopardy."

Considering how the food industry in the US will be revamped in the next near future, I'm not convinced that this is a bad thing.

 

[Phil1111 901]

Its official "the first recession since 2009, when the last recession ended, and marks the end of the longest expansion — 128 months — in records dating back to 1854. Only someone with trumps lack of business acumen. Could bring such success to an end.

Or so says the National Bureau of Economic Research’s Business Cycle Dating Committee"...data out last week showed, unemployment.. but that is higher than the peak jobless rate in the Great Recession....growth is expected to contract by a 34 percent rate in the second quarter

Yet his promise was “We're bringing it (the GDP) from 1 percent up to 4 percent. And I actually think we can go higher than 4 percent. I think you can go to 5 percent or 6 percent.”

So he promises 6% and delivers negative 34%

[kallend 1,618]

On 6/1/2020 at 9:54 AM, turtlespeed said:

Considering how the food industry in the US will be revamped in the next near future, I'm not convinced that this is a bad thing.

 

Yes, US farmers will love it.  They are doing so well right now they don't need to export anything.

[gowlerk 1,901]

24 minutes ago, kallend said:

Yes, US farmers will love it.  They are doing so well right now they don't need to export anything.

The US ag industry is huge. And efficient. And yet it just can't seem to get by without massive subsidies in many forms.

[Phil1111 901]

37 minutes ago, kallend said:

Yes, US farmers will love it.  They are doing so well right now they don't need to export anything.

Nobody has helped the trump farming base milk the US taxpayer more. Under trump the annual farm subsidies went from $10 billion to $22 billion and a total of $28 billion to the start of 2020.  Yet like his casino business and hotels trump has led US agriculture to bankruptcy. “Now, we stand to lose all of what was a $9.1 billion market in 2018, which was down sharply from the $19.5 billion U.S. farmers exported to China in 2017.”

The despair of trumps fumbles, missteps and stupidity has driven farm bankruptcies to the highest levels in a decade(end 2019). Which has all acted to punish US farmers for their mistake in voting for trump: "It has been insane. We've had a lot of farmers—a lot more bankruptcies going on, a lot more farmer suicides. These things are highlighting many of the news stories in our local news."

trump's trade deal with China, his famous cave "Phase #1?  "Through the first four months of 2020, China has imported only about 45 percent of what it would have had to buy to be on pace to meet the deal's goals, according to an analysis of trade data from both countries by the Peterson Institute for International Economics (PIIE)."

trump promised to punish Canada for being nice guys and tear up NAFTA. So this is what happened: "A USDA study shows that Canadian shipments of wheat to China have grown over 400% in two years. The report said, “Canada’s share of total Chinese imports of wheat has rocketed above 60% in marketing year 2018/19, up from 32% in marketing year 2017/18, as U.S. wheat exports to China have plunged and Australian exportable supplies have fallen sharply."

[brenthutch 383]

The number of the day is 4,800,000

[headoverheels 291]

2 hours ago, brenthutch said:

The number of the day is 4,800,000

Actually a number for data gathered 3 weeks ago, but reported yesterday.   Mostly rehires, and the actual number of rehires was much higher than that 4.8 million.  More like 12 million people have jobs that didn't a month earlier, and 7.5 million other people that don't have jobs that did.  2.9 million of the people with new job losses consider those to be permanent. Back in March, fewer people considered their job loss to be permanent rather than a temporary layoff , even though it turned out to be permanent for many of them.   Given the slow down/reversal of re-opening in some areas, it will be interesting to see how this goes in future.

[kallend 1,618]

3 hours ago, brenthutch said:

The number of the day is 4,800,000

Here's another number for today:
 

Trump Death Clock

77,006

Estimated U.S. COVID-19 Deaths Due To POTUS Inaction

[JerryBaumchen 1,046]

1 hour ago, headoverheels said:

Given the slow down/reversal of re-opening in some areas, it will be interesting to see how this goes in future.

Hi heels,

In this area ( greater Portland, OR area ) we are seeing quite few restaurants that will not be reopening.*  One guy owned five that are now closed permanently.

IMO the full effects of this 'slow down/reversal' will not be know until some time next year.

Jerry Baumchen

* One that I quite liked going to. 

 

[kallend 1,618]

2 minutes ago, JerryBaumchen said:

Hi heels,

In this area ( greater Portland, OR area ) we are seeing quite few restaurants that will not be reopening.*  One guy owned five that are now closed permanently.

IMO the full effects of this 'slow down/reversal' will not be know until some time next year.

Jerry Baumchen

* One that I quite liked going to. 

 

The consequence of denial, delay and dithering is not only 77,000 excess deaths, but also many businesses shuttering forever. Countries that took appropriate action in a timely manner have minimized both deaths and bankruptcies.

But we're #1. 

[SkyDekker 1,119]

18 minutes ago, kallend said:

The consequence of denial, delay and dithering is not only 77,000 excess deaths, but also many businesses shuttering forever. Countries that took appropriate action in a timely manner have minimized both deaths and bankruptcies.

But we're #1. 

And the new messaging from the White House is going to be:

Just deal with it.

lol