Economics , trump economics

[river]

I have so far , seen none of trumps understanding , grasp , of economics .

Can any one tell me that actually he does .

 

[mathman]

Trump will be gone Jan. 20. Let's try to ignore him from now on.

 

[Saint]

Will Biden make Americans richer?

 

[iceaura]

Trump's economic policies have been standard post-Reagan Republican.

As with other Republican politicians, that in itself does not indicate personal understanding (or bewilderment, in this matter). One must adjust and modify one's estimations in light of personal motivation - most Republican politicians risk losing Party support and even elected office if they fail to endorse and promote the standard Republican economic policies and Partisan assessments of legislation, but gaining large financial or career benefits if they do endorse and promote as the Party determines is best.

In such circumstances what a Republican politician is willing to admit understanding or reveal comprehension of is not at all the same as what they do in fact understand and comprehend.

 

[Write4U]

Will Biden make Americans richer?

Wrong question. Will Biden make 30% of Americans less poor is the proper question.
The rich take care of themselves.

 

[river]

Will Biden make Americans richer?

If He starts from the bottom up he will . ( the poor to the rich rather than the rich to to the poor )

 

[Write4U]

If He starts from the bottom up he will . ( the poor to the rich rather than the rich to to the poor )

I agree, "trickle down economics" have never worked . At the bottom only a few drops are left.

Give a poor man some money he will spend it immediately, stimulating industry and economy.
Give a rich man some money, he'll put it in the bank and earns "unearned income" from the interest.

 

[river]

The rich in either gender can be the start of a futuristic , future for Humanity . There are many rich .

 

[Write4U]

The rich in either gender can be the start of a futuristic , future for Humanity . There are many rich .

They can, few will.

 

[river]

river said: ↑
The rich in either gender can be the start of a futuristic , future for Humanity . There are many rich .

They can, few will.

True

Way to few . They have No Vision other than power .

 

[Write4U]

Do you honestly think Russia or China are not interested in international global competition and what ever they can do to improve their power position?

Here's how China is going green

Image: Reuters

That looks pretty impressive to me.

After years of heavy industrialization, China’s environmental challenges are nearing a tipping point.

The factories and power plants that have driven its economic growth have also polluted its air, water and soil, to the point where environmental hazards could lead to a significant risk to China’s society and economy, if not corrected in a timely manner. In a bid to tackle these challenges, China’s government has declared a “war on pollution” and introduced a number of green initiatives.

Here are the most important ones:

Less coal, cleaner air

China has taken steps to dismantle coal-fired power plants, reduce overall emission levels and cut particulate-matter emission rates. Huge progress has been made on air quality, and there are now fewer smog days in China’s largest cities.

Better regulation

The former Ministry for Environmental Protection has been transformed into the Ministry of Ecology and Environment (MEE), a new entity with broader, clearer responsibilities. The new ministry will oversee all water-related policies, for example, from ocean resources management to groundwater. Previously, these were scattered among different departments. The ministry is also in charge of policies on climate change.

Funding a greener future

China needs an estimated additional RMB 40.3 trillion ($6.4 trillion) to RMB 123.4 trillion ($19.4 trillion) to finance the transition to a greener economy. It has started collecting an environment tax to help fund its environmental policies, and is also trying to attract more green investment.

https://www.weforum.org/agenda/2018/04/china-is-going-green-here-s-how

 

[iceaura]

Here are the most important ones:

Less coal, cleaner air

.

Unfortunately:
https://www.reuters.com/article/china-coal-idUSL4N2E20HS

The study said China has already proposed another 40.8 GW of new coal-fired power plants this year after Beijing eased restrictions on new plants.

It now has 97.8 GW of coal-fired power under construction, and another 151.8 GW at the planning stage. Plants accounting for some 17 GW were allowed to start construction this year, more than the total amount approved during the previous two years.

 

[Write4U]

.
Unfortunately:
https://www.reuters.com/article/china-coal-idUSL4N2E20HS

Lets hope these are just transitional measures, while they gradually switch. China has BIG industrial needs.

• The current population of China is 1,442,191,470 as of Wednesday, January 6, 2021, based on Worldometer elaboration of the latest United Nations data.
• China 2020 population is estimated at 1,439,323,776 people at mid year according to UN data.
• China population is equivalent to 18.47% of the total world population.
• China ranks number 1 in the list of countries (and dependencies) by population.
• The population density in China is 153 per Km2 (397 people per mi2).
• The total land area is 9,388,211 Km2 (3,624,807 sq. miles)
• 60.8 % of the population is urban (875,075,919 people in 2020)
• The median age in China is 38.4 years.

https://www.worldometers.info/world-population/china-population/

 

[Dennis Tate]

I have so far , seen none of trumps understanding , grasp , of economics .

Can any one tell me that actually he does .

I could be wrong but I believe that one of his campaign promises from 2015 was based on some experiences from his own life......
and some aspects of Federal Reserve Policy that most of us are unaware of.

(This quotation is from a rather old version, (pre 2015) of the wikipedia article about him).

https://en.wikipedia.org/wiki/Donald_Trump

Later in 1988, Trump acquired the Taj Mahal Casino in Atlantic City, New Jersey, in a transaction with Merv Griffin and Resorts International.[67] The casino was opened in April 1990, and was built at a total cost of $1.1 billion, which at the time made it the most expensive casino ever built.[68][69] Financed with $675 million in junk bonds[70] at a 14% interest rate, the project entered Chapter 11 bankruptcy the following year.[71] Banks and bondholders, facing potential losses of hundreds of millions of dollars, opted to restructure the debt.

This quotation is from infowars and is no longer easy to find online:

Trump Calls For Auditing the Fed

GOP frontrunner makes good on promise to call for audit of Fed
“It is so important to audit the Federal Reserve, and yet Ted Cruz missed the vote on the bill that would allow this to be done,” Trump tweeted out.

During Friday’s appearance on the Alex Jones Show, Trump insider Roger Stone was asked if Trump would call for an audit, and Stone said that he thought so but would pass the message along to the Trump campaign.

“He’s not a big fan of the Fed,” Stone pointed out. “He is scaring the central bankers; he is scaring the Washington/Wall Street/D.C. consultant/lobbyist class.”

“He’s deeply suspicious of the Fed and I think he is open-minded about the Fed… I’d suspect you’d get an audit of the Fed [with Trump].”

This statement is from a poster on another forum and could be incorrect.... but I think that this idea is logical and if true would mean that the Federal Reserve was intended to operate much like the Bank of Canada did from 1938 to 1974.


http://www.politicalforum.com/index...and-why-that-must-end.211515/#post-1064784748

Anyone understand how markets were manipulated pre federal resserve and the US had a 2008 crisis less than every 5 years on average PRE federal reserve???

Facts: Yes, the Federal Reserve banks are privately owned, but they are controlled by the publically-appointed Board of Governors. The Federal Reserve banks merely execute the monetary policy choices made by the Board. In addition, nearly all the interest the Federal Reserve collects on government bonds is rebated to the Treasury each year, so the government does not pay any net interest to the Fed.

....Moreover, monetary policy is controlled by the publically-appointed Board of Governors, not by the Federal Reserve banks.


Fact: Independent accounting firms conduct full financial audits of the Federal Reserve banks and the Board of Governors every year. The Fed is also subject to certain types of audits from the Government Accounting Office.



Facts: The Federal Reserve rebates its net earnings to the Treasury every year. Consequently, the interest the Treasury pays to the Fed is returned, so the money borrowed from the Fed has no net interest obligation for the Treasury. The government could print its own currency independent of the Fed, but there would be no effective safeguards against abuse of this power for political gain.


MORE HERE

http://www.publiceye.org/conspire/flaherty/Federal_Reserve.html

If the quotation by dad2three is correct....... then by maximizing the use of the Federal Reserve the USA national debt could be kept astonishingly LOW!!!! If the USA debt is growing too fast then an audit of the Federal Reserve is indeed in order, but... the problem may be similar to what happened here in Canada in 1974.

But somehow this worked backward for Trudeau. Many Canadians still think highly of Pierre Trudeau, but in 1974 he did one terrible thing that changed the lives, for present and future, of all Canadians, for the worse. Trudeau gave the leading operations of the Bank of Canada over to the private banks operating in Canada.

The Bank of Canada was first established by Prime Minister Richard Bennet in 1935 as a private central bank, but was then nationalized by William Lyon Mackenzie King in 1938. By nationalizing the bank, Mackenzie King meant for it to belong to the people so the Canadian government could borrow funds with little or no interest for capital expenditures. The mandate of the newly nationalized Bank of Canada was to act as the banker to the government and to manage the public debt. As Mackenzie King famously said: “Once a nation parts with the control of their currency and credit, it matters not who makes that nation’s laws. Usury, once in control, will wreck any nation. Until the control of the issue of currency and credit is restored to government and recognized as its most sacred responsibility, all talk of sovereignty of parliament and of democracy is idle and futile.”

So the Bank of Canada was nationalized in 1938 and the government could now borrow money with little or no interest. And it worked. The Canadian government built freeways, public transportation systems, subway line, airports, the St. Lawrence Seaway and funded a national health care system and the Canada Pension Plan. But then Trudeau, under the influence of the international financial group called Basel’s
Committee’s Recommendations (The Basel Committee on Banking Supervision) made the decision to halt the borrowing of money from the Bank of Canada, and instead, chose to borrow from the private banks who instead of lending to the government at no interest, or low interest, introduced higher interest rates along with compound interest.

All banks know very well the magic of compound interest. And Pierre Trudeau must have known that the mounting compounded national debt would lead to Canadians eventually owing a dollar fifty for every dollar of their disposable incomes. After all, he studied economics at the London School of Economics. Surely the professors there knew about compound interest.

So Pierre Trudeau, instead of feeling blessed that Canada, unlike the US, had a nationalized central bank, signed our bank away to the private banks. Couldn’t Trudeau, such an educated man, surmise that citizens in a few years would be struggling to make car payments and meet rent and mortgages and student loans and to buy healthy food while last year’s profits for the big five (that’s Royal Bank, TD Bank, Scotiabank, Bank of Montreal and CIBC amounted to $31.7 billion?) If he did, he didn’t care. But it doesn’t have to be this way. It really doesn’t. Our Bank of
Canada is still there. Next time." (Betty Krawczyk)

https://bettysearlyedition.blogspot.com/2015/07/how-pierre-trudeau-turned-us-into-debt.html

 

[Dennis Tate]

Will Biden make Americans richer?

Some Americans yes........
but I would guess that eighty percent of Americans will be poorer by the look of his policies so far.

There is a theory out there that the fall of the Roman Empire took place because the highways in the Empire became over ran by bandits and the tax base of the Roman Empire shrank.... the legions could no longer be paid well.... and voila .... the Germanic tribes swooped down and sacked Rome! In my opinion... Biden's policies are similar to those of Rome as she began to fall into moral and economic decay.

(That theory is courtesy of Richard Sapir and Warren Murphy if anybody else here is also a fan of theirs)!

 

[Write4U]

I have so far , seen none of trumps understanding , grasp , of economics .
Can any one tell me that actually he does .

He is a master at going bankrupt and taking everyone he does business with down with him. Just consider why Banks did not want to lend him any money, except the Russians, who had a stake in Trump's US economic failure, not his success! The Russians are master at chess and long term strategy.

Some Americans yes........
but I would guess that eighty percent of Americans will be poorer by the look of his policies so far.

I disagree. People are so used to instant gratification, they look only to tomorrow, not next year.
The money is an investment in the future, and has started with a generous distribution to save the poor from going completely bankrupt, due to the pandemic medical costs and unemployment.

Remarkably, the stock-market (primarily the rich investors) is still very very healthy, due many capitalist opportunity to make quick profits on cheap real estate and low interest borrowing.

1) The immediate concern is the pandemic. If that is not conquered the nation will go bankrupt.
2) The money will be spent on infra-structure which will provide good paying jobs for the poor.
3) There will be a tax increase on the rich who can afford it.

Biden has learned from two successful democratic presidents, each who were handed a disastrous economy and had restored a healthy economy by the time they left office, after 2 terms, by popular vote.
People often forget the enormously successful economic recoveries Clinton and Obama managed. Each did a brilliant job of turning inherited financial economic and employment disasters into triumph.

Trump was handed a thriving economy and promptly started to rob the treasury by offering a tax cut which significantly benefitted only the rich, including himself, and then proceeded to default on every campaign promise he made, while taking credit for the inherited healthy economies.