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So how’s the economy?

Discussion in 'Other Discussions' started by Earth Wind and Fire, Aug 15, 2019.

  1. Earth Wind and Fire

    Earth Wind and Fire Well-Known Member
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  2. Wingman68

    Wingman68 Well-Known Member
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    I refuse to waste my time going to WaPo, but I’ll jump off on your title. This is yet another attempt to take down Trump by the globalist cabal. Russia Russia Russia didn’t work. The economy is stronger now than in a long time, yet the Fed has worked against it about as hard as they worked to facilitate Obama. The left has NOTHING of value to sell, so their efforts are concentrated on destroy. It’s a choice of who to trust. What happens in the market today is just one of the battles in the war. Doesn’t concern me at all.
     
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  3. church mouse guy

    church mouse guy Well-Known Member
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    Janet Yellen, no friend of a Republican, said this: "Yellen, who served as head of the Central Bank from 2014-2018, said trade uncertainty has led to the slowdown of the global economy." She said that it is unlikely that we are going into a recession.

    Janet Yellen to Wall Street: A recession is unlikely

    If the Dems win the 2020 election, there will be a recession. That might make the NeverTrumpers happy.
     
  4. Earth Wind and Fire

    Earth Wind and Fire Well-Known Member
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    But isn’t this fed guy a trump apointee?
     
  5. church mouse guy

    church mouse guy Well-Known Member
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    You must be doing your happy dance.
     
  6. InTheLight

    InTheLight Well-Known Member
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    Well, I would hope Trump learned the US economy is more complicated than he thought. (Trying to discern what someone was thinking is mind reading, by the way, and is Fake News.)

    Can't read the article because it is behind a paywall. I did see one little snippet where the guy flat out lied (or else is stupid) where he said the inverted yield curve always leads to a recession. So, I can safely dismiss most everything else he says.
     
  7. Earth Wind and Fire

    Earth Wind and Fire Well-Known Member
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    Why?
     
  8. kyredneck

    kyredneck Well-Known Member
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    Because you’re the typical Trump hater who would love to see him fail even if it means a recession to the U.S. economy.
     
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  9. Earth Wind and Fire

    Earth Wind and Fire Well-Known Member
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    You know what, you are real wrong ... I don’t hate the guy, but I don’t trust him either. I’ve seen him distort stuff and lie his way out of things so he was never my candidate and if you don’t like it tough. :Tongue
     
    #9 Earth Wind and Fire, Aug 15, 2019
    Last edited: Aug 15, 2019
  10. church mouse guy

    church mouse guy Well-Known Member
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    You will just have to vote Democrat forever.
     
  11. kyredneck

    kyredneck Well-Known Member
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  12. Earth Wind and Fire

    Earth Wind and Fire Well-Known Member
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    Haven’t voted dem in 25 yrs
     
  13. Earth Wind and Fire

    Earth Wind and Fire Well-Known Member
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  14. InTheLight

    InTheLight Well-Known Member
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    * There is full employment. The unemployment rate is a low as its been for 50 years.

    * Consumer confidence is up, it's over 100.4, and has been since Trump took office. In 8 years, never was this high under Obama.

    * Small business confidence index is at 104.7. In 8 years under Obama it was always in the low-mid 90's, briefly spiking to 100.4 in December 2014, then diving back into 90's.

    * The stock market is setting new highs.

    * Earnings reports are strong, across the board.

    * The Fed is going to cut interest rates.

    * Home mortgage rates are under 4%.

    * There are no discernible bubbles to burst, not like tech in 2000; not like housing in 2009.

    These are not opinions. These are tangible indicators of a healthy economy.

    Surely by now you've figured out these "buy gold" salesmen. Gold doesn't sell well when the economy is going good, so they have to create doom and gloom to move their gold stockpiles. The cycle is predictable.
     
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  15. Wingman68

    Wingman68 Well-Known Member
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    But, what if Trump goes back to the gold standard? He wants to. I always view gold as a backup, not a primary. When gold is not selling well.......that is when you buy, just like any other market that you hope to succeed in. Nobody ever said to buy high & sell low.
     
  16. InTheLight

    InTheLight Well-Known Member
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    There is not enough gold reserves in the world to fuel the ever expanding world economy the way it was able to in the past. There's simply too many people, too many goods and services out there. There is only a finite amount of gold in the world. I suspect if we went back to the gold standard the government would have to decree the exchange rate of gold on a regular basis. If they end up doing this, it would be no different than having an elastic currency like we do now with the Federal Reserve and interest rates.

    Another possible way to deal with the finite amount of gold is to have severe deflation. Lower the price and value of everything so the amount of gold could cover all transactions. That would be a disaster.

    Sure, but most people do, in fact, buy high and sell when the market drops. This is the typical casual investor who wants to get in on the bull market and then panics and sells when it drops. These are the same people that gold salesmen prey upon with their sales pitches.

    I buy on dips. I put some more money in the market on August 5th, and I made some maintenance moves yesterday as well.

    Nothing wrong with having gold as part of your portfolio, but it should not be relied on as a mechanism for growth. More like an inflation hedge or protection against currency fluctuations.
     
    #16 InTheLight, Aug 16, 2019 at 10:22 AM
    Last edited: Aug 16, 2019 at 10:27 AM
  17. Earth Wind and Fire

    Earth Wind and Fire Well-Known Member
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    Used to be starting salary was 50k to 60k. Now it’s 30k... what’s up with that?
     
  18. InTheLight

    InTheLight Well-Known Member
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    Where did you get that number from? That appears to be faulty information.

    What kind of job are you talking about?

    I've got a recent college grad, majored in economics. Twenty-one years old, entry level job and he's making almost $50K. My friends have kids the same age. They are certainly well over $40K a year. I have another son in college. He'll get over $50K to start.
     
  19. Earth Wind and Fire

    Earth Wind and Fire Well-Known Member
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    My starting salary 35 years ago was $65K. Today you won’t get that.... esp if you are 62 YO.
     
  20. Earth Wind and Fire

    Earth Wind and Fire Well-Known Member
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    Regards numbers, look at Indeed, look at sales.
     
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