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Thread started 04/21/20 3:29am

v10letblues

avatar

like Bush before him, i fear Trump and the Republican party have left another colossal financial disaster

ok, so i woke up with a panic attack.

.

Thinking that collapse of oil is huge. it will have a huge domino effect.

I hate big oil. that's an irrational hate for me. I am still pissed off at how the country suffered during the depression on 2006 and how they made money head over fist record levels while gas prices were fucking people trying to get to work.

.

None of that was personal though. that's just the system we have where whomever can find a way to make a buck, will find a way to make a buck.

.

But

let's forget about all my personal baggage because everything is interconnected. Especially where it comes to oil. Nations, Banks, Wall St. You, Me.

.

Fuck me.

.

How, where and when will the money come to salvage all this?

.

Trump had already cut interest rates to 0 just to satisfy the rich even before all this. He had already cut taxes on the rich.

.

To bail us out temporarily, checks with Trumo's picture on them are still scheduled to be sent to you and me if you haven't already got your direct deposit via snail mail that's also on the verge of collapse.

Where do we go from there?

.

Even with economic growth the Trump administration saved nothing.0

Giving away everything to wealthy and not adding anything back to the social or economic well-being of the country. Nothing towards infrastructure.

.

0

.

And now with every sector of af American industry in need and social needs bursting at the seams desperately looking for a lifeline, there is nothing left.

.

The allocated small business loans have already dried up.

The big business welfare programs will be up to bat next.

.

We need to reopen the country ASAP but i fear that this administration has already fucked up beyond anything we can begin to comprehend.

.

Were fucked.

.

Perhaps is an overreaction, anxiety on my part, but it looks bad people.

.

Today is Tuesday April 21 3:23 AM pacific with markets opening soon.

.

Will Wall St Panic on opening? Is everyone a lot less anxious than i am?

.

I sure hope iM so wrong about all this.

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Reply #1 posted 04/21/20 4:39am

2elijah

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^
When we get the virus under control, much more needed testing, possibly a vaccine that will actually workand is safe, then it will be actually safe to fully reopen the country. Doesn’t make sense to reopen it now, and more people get infected or die from it, as it will just be another disaster.
[Edited 4/21/20 4:43am]
popcorn
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Reply #2 posted 04/21/20 5:22am

djThunderfunk

avatar

v10letblues said:

ok, so i woke up with a panic attack.

.

Thinking that collapse of oil is huge. it will have a huge domino effect.

I hate big oil. that's an irrational hate for me. I am still pissed off at how the country suffered during the depression on 2006 and how they made money head over fist record levels while gas prices were fucking people trying to get to work.

.

None of that was personal though. that's just the system we have where whomever can find a way to make a buck, will find a way to make a buck.

.

But

let's forget about all my personal baggage because everything is interconnected. Especially where it comes to oil. Nations, Banks, Wall St. You, Me.

.

Fuck me.

.

How, where and when will the money come to salvage all this?

.

Trump had already cut interest rates to 0 just to satisfy the rich even before all this. He had already cut taxes on the rich.

.

To bail us out temporarily, checks with Trumo's picture on them are still scheduled to be sent to you and me if you haven't already got your direct deposit via snail mail that's also on the verge of collapse.

Where do we go from there?

.

Even with economic growth the Trump administration saved nothing.0

Giving away everything to wealthy and not adding anything back to the social or economic well-being of the country. Nothing towards infrastructure.

.

0

.

And now with every sector of af American industry in need and social needs bursting at the seams desperately looking for a lifeline, there is nothing left.

.

The allocated small business loans have already dried up.

The big business welfare programs will be up to bat next.

.

We need to reopen the country ASAP but i fear that this administration has already fucked up beyond anything we can begin to comprehend.

.

Were fucked.

.

Perhaps is an overreaction, anxiety on my part, but it looks bad people.

.

Today is Tuesday April 21 3:23 AM pacific with markets opening soon.

.

Will Wall St Panic on opening? Is everyone a lot less anxious than i am?

.

I sure hope iM so wrong about all this.


I have it on good authority (13cjk13's "hunch") that saying things like this makes you a republican, and possibly a terrorist. Just sayin'... wink

djThunderfunk said:
Not because of some silly milano on the org.

PennyPurple thought it was racial slur and said:
Ban! Ban! Ban! Ban! Ban! lol
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Reply #3 posted 04/21/20 5:44am

v10letblues

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Well I gotta props to Trump for at least one thing in this oil collapse. He has asked permission to buy or store as much as they can in the reserves. Which is smart.

.

I just HOPE it is returned to American consumers at a reasonable price once gas prices start to jump again and market forces try to gouge struggling Americans trying to get gas in their cars.

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Reply #4 posted 04/21/20 6:46am

DiminutiveRock
er

avatar

v10letblues said:

Well I gotta props to Trump for at least one thing in this oil collapse. He has asked permission to buy or store as much as they can in the reserves. Which is smart.

.

I just HOPE it is returned to American consumers at a reasonable price once gas prices start to jump again and market forces try to gouge struggling Americans trying to get gas in their cars.


They may run out of places to store the oil. I wouldn't give him too much props, I am sure this is at the advice of someone with half a brain in that administration.

Although he is closing the borders, so immigrants (I guess those hand picking crops) cannot steal jobs from Americans. neutral

Misinformation Kills
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Reply #5 posted 04/21/20 7:05am

v10letblues

avatar

DiminutiveRocker said:

v10letblues said:

Well I gotta props to Trump for at least one thing in this oil collapse. He has asked permission to buy or store as much as they can in the reserves. Which is smart.

.

I just HOPE it is returned to American consumers at a reasonable price once gas prices start to jump again and market forces try to gouge struggling Americans trying to get gas in their cars.


They may run out of places to store the oil. I wouldn't give him too much props, I am sure this is at the advice of someone with half a brain in that administration.

Although he is closing the borders, so immigrants (I guess those hand picking crops) cannot steal jobs from Americans. neutral

Absolutely it's from someone else in the administration!

But we do nee to grab as much as we can at this price and get it back to Americans for a rainy day. We all know they will be trying to screw us once they can.

.

And yes, the immigration announcement is a dog whistle to his base. He knows they respond well to anything racist and gives them something to boost re-election sentiment with them.

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Reply #6 posted 04/21/20 7:44am

DiminutiveRock
er

avatar

v10letblues said:

DiminutiveRocker said:


They may run out of places to store the oil. I wouldn't give him too much props, I am sure this is at the advice of someone with half a brain in that administration.

Although he is closing the borders, so immigrants (I guess those hand picking crops) cannot steal jobs from Americans. neutral

Absolutely it's from someone else in the administration!

But we do nee to grab as much as we can at this price and get it back to Americans for a rainy day. We all know they will be trying to screw us once they can.

.

And yes, the immigration announcement is a dog whistle to his base. He knows they respond well to anything racist and gives them something to boost re-election sentiment with them.

^ on point.

Misinformation Kills
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Reply #7 posted 04/21/20 8:15am

13cjk13

avatar

v10letblues said:

ok, so i woke up with a panic attack.

.

Thinking that collapse of oil is huge. it will have a huge domino effect.

I hate big oil. that's an irrational hate for me. I am still pissed off at how the country suffered during the depression on 2006 and how they made money head over fist record levels while gas prices were fucking people trying to get to work.

.

None of that was personal though. that's just the system we have where whomever can find a way to make a buck, will find a way to make a buck.

.

But

let's forget about all my personal baggage because everything is interconnected. Especially where it comes to oil. Nations, Banks, Wall St. You, Me.

.

Fuck me.

.

How, where and when will the money come to salvage all this?

.

Trump had already cut interest rates to 0 just to satisfy the rich even before all this. He had already cut taxes on the rich.

.

To bail us out temporarily, checks with Trumo's picture on them are still scheduled to be sent to you and me if you haven't already got your direct deposit via snail mail that's also on the verge of collapse.

Where do we go from there?

.

Even with economic growth the Trump administration saved nothing.0

Giving away everything to wealthy and not adding anything back to the social or economic well-being of the country. Nothing towards infrastructure.

.

0

.

And now with every sector of af American industry in need and social needs bursting at the seams desperately looking for a lifeline, there is nothing left.

.

The allocated small business loans have already dried up.

The big business welfare programs will be up to bat next.

.

We need to reopen the country ASAP but i fear that this administration has already fucked up beyond anything we can begin to comprehend.

.

Were fucked.

.

Perhaps is an overreaction, anxiety on my part, but it looks bad people.

.

Today is Tuesday April 21 3:23 AM pacific with markets opening soon.

.

Will Wall St Panic on opening? Is everyone a lot less anxious than i am?

.

I sure hope iM so wrong about all this.

I agree we need to reopen the country ASAP, but as you said, THIS ADMINISTRATION HAS ALREADY FUCKED UP BEYOND ANYTHING WE CAN BEGIN TO COMPREHEND. So, we can't. And we'll just have to ride it out, unlike the inbred, racist, right wing donaldrapist republicans that are out marching in the streets because they lack the intelligence to grasp how dire the situation is.

"hey if you found out someone gave you a fake $20 would you be mad?"
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Reply #8 posted 04/21/20 10:18am

2elijah

avatar

13cjk13 said:



v10letblues said:


ok, so i woke up with a panic attack.


.


Thinking that collapse of oil is huge. it will have a huge domino effect.


I hate big oil. that's an irrational hate for me. I am still pissed off at how the country suffered during the depression on 2006 and how they made money head over fist record levels while gas prices were fucking people trying to get to work.


.


None of that was personal though. that's just the system we have where whomever can find a way to make a buck, will find a way to make a buck.


.


But


let's forget about all my personal baggage because everything is interconnected. Especially where it comes to oil. Nations, Banks, Wall St. You, Me.


.


Fuck me.


.


How, where and when will the money come to salvage all this?


.


Trump had already cut interest rates to 0 just to satisfy the rich even before all this. He had already cut taxes on the rich.


.


To bail us out temporarily, checks with Trumo's picture on them are still scheduled to be sent to you and me if you haven't already got your direct deposit via snail mail that's also on the verge of collapse.


Where do we go from there?


.


Even with economic growth the Trump administration saved nothing.0


Giving away everything to wealthy and not adding anything back to the social or economic well-being of the country. Nothing towards infrastructure.


.


0


.


And now with every sector of af American industry in need and social needs bursting at the seams desperately looking for a lifeline, there is nothing left.


.


The allocated small business loans have already dried up.


The big business welfare programs will be up to bat next.


.


We need to reopen the country ASAP but i fear that this administration has already fucked up beyond anything we can begin to comprehend.


.


Were fucked.


.


Perhaps is an overreaction, anxiety on my part, but it looks bad people.


.


Today is Tuesday April 21 3:23 AM pacific with markets opening soon.


.


Will Wall St Panic on opening? Is everyone a lot less anxious than i am?


.


I sure hope iM so wrong about all this.



I agree we need to reopen the country ASAP, but as you said, THIS ADMINISTRATION HAS ALREADY FUCKED UP BEYOND ANYTHING WE CAN BEGIN TO COMPREHEND. So, we can't. And we'll just have to ride it out, unlike the inbred, racist, right wing donaldrapist republicans that are out marching in the streets because they lack the intelligence to grasp how dire the situation is.



And when they get ill they’ll blame Hillary and Barack... oh and Nancy. popcorn
popcorn
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Reply #9 posted 04/21/20 10:55am

OnlyNDaUsa

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Bush inherited a recession and then (thanks in part however small Clinton's lack of action) 9/11.

Remember the 2001 recession was called Early March... which means it was already happening. Bush had been in office for what 40 days? If you blame than on Bush...

Yo! Sam 'Who's the Boss?'
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Reply #10 posted 04/21/20 11:53am

benni

avatar

OnlyNDaUsa said:

Bush inherited a recession and then (thanks in part however small Clinton's lack of action) 9/11.

Remember the 2001 recession was called Early March... which means it was already happening. Bush had been in office for what 40 days? If you blame than on Bush...


https://www.thebalance.co...ts-4147962

The Y2K scare (also known as the Year 2000 scare) may have contributed to the 2001 recession. Computer users and programmers feared that computers would stop working on December 31, 1999. Since many computer codes represented a given year with the last two digits, they believed that these codes would not be able to distinguish between 2000 and 1900. Based on the belief that their computers would stop working when the year 2000 arrived, many companies and individuals bought new ones with software that was supposed to be Y2K compliant.

The scare led to an economic boom that was short-lived. Computer and software sales declined, since they were all bought in advance of January 2000. Subsequently, the stock market dropped in March 2000, and as stock prices declined, dot-com companies went bankrupt. The circumstances were exacerbated when the Federal Reserve raised the fed funds rate numerous times in efforts to stop the economy from overheating.

While the Y2K scare contributed to the 2001 recession, it is not clear whether the scare in fact caused it.

https://en.wikipedia.org/...sion_2000s

The 9/11 attack worsened the downturn. The markets closed for several days after the attacks, and the New York Stock Exchange did not reopen until September 17, 2001. That day, the Dow Jones Industrial Average (DJIA) had its largest one-day drop, falling 684.81 points or -7.1%.


The NBER's Business Cycle Dating Committee (BCDC) uses monthly, rather than quarterly, indicators to determine peaks and troughs in business activity,[7] as can be seen by noting that starting and ending dates are given by month and year, not quarters. However, controversy over the precise dates of the recession led to the characterization of the recession as the "Clinton Recession" by Republicans, if it could be traced to the final term of President Bill Clinton. BCDC members suggested they would be open to revisiting the dates of the recession as newer and more definitive data became available.[8]

In early 2004, NBER President Martin Feldstein said:
It is clear that the revised data have made our original March date for the start of the recession much too late. We are still waiting for additional monthly data before making a final judgment. Until we have the additional data, we cannot make a decision.[8]

However, the NBER has since confirmed that the recession started in March 2001.

From 2000 to 2001, the Federal Reserve, in a move to protect the economy from the overvalued stock market, made successive interest rate increases; while this may have initiated the readjustment, it is starkly contrasted with the severe, prolonged recession that would have occurred had the unsustainable growth continued unabated.[9] Using the stock market as an unofficial benchmark, a recession would have begun in March 2000 when the NASDAQ crashed following the collapse of the dot-com bubble. The Dow Jones Industrial Average was relatively unscathed by the NASDAQ's crash until the September 11, 2001 attacks, after which the DJIA suffered its worst one-day point loss and biggest one-week losses in history up to that point. The market rebounded, only to crash once more in the final two quarters of 2002. In the final three quarters of 2003, the market finally rebounded permanently, agreeing with the unemployment statistics that a recession defined in this way would have lasted from 2001 through 2003.

The Labor Department estimates that a net 1.735 million jobs were shed in 2001, with an additional net 508,000 lost during 2002. 2003 saw a small gain of a mere 105,000 jobs. Unemployment rose from 4.2% in February 2001 to 5.5% in November 2001, but did not peak until June 2003 at 6.3%, after which it declined to 5% by mid-2005.


I'm not finding anywhere that it was Clinton's fault, except from rightwing sources.

Trump: "It was hard to get it aroused and it is hard to get it aroused but we got it aroused."
[narrator voice] He's talking about the "American way."
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Reply #11 posted 04/21/20 12:03pm

OnlyNDaUsa

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whatever factors were in place in 1999 of 2000 they had zero to do with bush... so all that is meaningless to the assertion that Bush caused the March 2001 recession.

The recession did not START in 2001, that is a fib, it was CALLED March 2001. Which means it occurred under the factors in place during the Clinton administration.


Note I did not blame Clinton... but facts are facts. Not liking them is not enough to make them not (in this case) true.


Also was not talking about post 2004 issues. Obama spent a lot of time (throughout his reign) blaming his predecessor. But he said he was no in over his head (he was) and that he knew what he was getting into to when he ran. (which is something I harp on to any elected official: you asked for it, you got it, shut up and do your job--trump especially.)

Yo! Sam 'Who's the Boss?'
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Reply #12 posted 04/21/20 12:54pm

benni

avatar

OnlyNDaUsa said:

whatever factors were in place in 1999 of 2000 they had zero to do with bush... so all that is meaningless to the assertion that Bush caused the March 2001 recession.

The recession did not START in 2001, that is a fib, it was CALLED March 2001. Which means it occurred under the factors in place during the Clinton administration.


Note I did not blame Clinton... but facts are facts. Not liking them is not enough to make them not (in this case) true.


Also was not talking about post 2004 issues. Obama spent a lot of time (throughout his reign) blaming his predecessor. But he said he was no in over his head (he was) and that he knew what he was getting into to when he ran. (which is something I harp on to any elected official: you asked for it, you got it, shut up and do your job--trump especially.)


Sorry, but I trust the National Bureau of Economic Research (NBER) more than I do your word. Per them, the 2001 recession did NOT start until March 2001.

Trump: "It was hard to get it aroused and it is hard to get it aroused but we got it aroused."
[narrator voice] He's talking about the "American way."
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Reply #13 posted 04/21/20 1:10pm

OnlyNDaUsa

avatar

benni said:

OnlyNDaUsa said:

whatever factors were in place in 1999 of 2000 they had zero to do with bush... so all that is meaningless to the assertion that Bush caused the March 2001 recession.

The recession did not START in 2001, that is a fib, it was CALLED March 2001. Which means it occurred under the factors in place during the Clinton administration.


Note I did not blame Clinton... but facts are facts. Not liking them is not enough to make them not (in this case) true.


Also was not talking about post 2004 issues. Obama spent a lot of time (throughout his reign) blaming his predecessor. But he said he was no in over his head (he was) and that he knew what he was getting into to when he ran. (which is something I harp on to any elected official: you asked for it, you got it, shut up and do your job--trump especially.)


Sorry, but I trust the National Bureau of Economic Research (NBER) more than I do your word. Per them, the 2001 recession did NOT start until March 2001.

even if it did... do you REALLY think it was due to the prior 40ish days and that 41ish days before that the economy was fine?

Yo! Sam 'Who's the Boss?'
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Reply #14 posted 04/21/20 2:24pm

benni

avatar

OnlyNDaUsa said:

benni said:


Sorry, but I trust the National Bureau of Economic Research (NBER) more than I do your word. Per them, the 2001 recession did NOT start until March 2001.

even if it did... do you REALLY think it was due to the prior 40ish days and that 41ish days before that the economy was fine?


Per NBER, they use monthly data, not quarterly data, so yes.

Trump: "It was hard to get it aroused and it is hard to get it aroused but we got it aroused."
[narrator voice] He's talking about the "American way."
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Reply #15 posted 04/21/20 2:29pm

OnlyNDaUsa

avatar

benni said:

OnlyNDaUsa said:

even if it did... do you REALLY think it was due to the prior 40ish days and that 41ish days before that the economy was fine?


Per NBER, they use monthly data, not quarterly data, so yes.

lol lol lol lol lol

ok

thank you for proving you act on nothing but partisan agenda.

Yo! Sam 'Who's the Boss?'
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Reply #16 posted 04/21/20 2:33pm

benni

avatar

OnlyNDaUsa said:

benni said:


Per NBER, they use monthly data, not quarterly data, so yes.

lol lol lol lol lol

ok

thank you for proving you act on nothing but partisan agenda.


No, I use facts. PER the NBER: However, the NBER has since confirmed that the recession started in March 2001.

If anyone goes on partisan agenda, it would be you, because even when provided with facts you want to dispute them.

Trump: "It was hard to get it aroused and it is hard to get it aroused but we got it aroused."
[narrator voice] He's talking about the "American way."
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Reply #17 posted 04/21/20 3:36pm

OnlyNDaUsa

avatar

benni said:

OnlyNDaUsa said:

lol lol lol lol lol

ok

thank you for proving you act on nothing but partisan agenda.


No, I use facts. PER the NBER: However, the NBER has since confirmed that the recession started in March 2001.

If anyone goes on partisan agenda, it would be you, because even when provided with facts you want to dispute them.

To be clear my point is that the March 2001 recession was caused by factors in place while Clinron was in office... Maybe I was not clear. if gore had gotten more votes than bush the same thing would have occurred.

Yo! Sam 'Who's the Boss?'
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Reply #18 posted 04/21/20 3:55pm

benni

avatar

OnlyNDaUsa said:

benni said:


No, I use facts. PER the NBER: However, the NBER has since confirmed that the recession started in March 2001.

If anyone goes on partisan agenda, it would be you, because even when provided with facts you want to dispute them.

To be clear my point is that the March 2001 recession was caused by factors in place while Clinron was in office... Maybe I was not clear. if gore had gotten more votes than bush the same thing would have occurred.


Actually, up until March of that year, we were a strong period of growth and expansion. But then when Bush got into office, he did a tax cut policy, poorly worded. Then when the 9/11 attacks, it essentially shut down the economy.

Per NBER also said the economy might have been able to avoid a recession without the impact of the Sept. 11 terrorist attack, which all but shut down the economy for several days and has had a lasting impact on tourism, the airline industry and other businesses.

"The attacks clearly deepened the contraction and may have been an important factor in turning the episode into a recession," said a statement from NBER.

Trump: "It was hard to get it aroused and it is hard to get it aroused but we got it aroused."
[narrator voice] He's talking about the "American way."
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Reply #19 posted 04/21/20 4:04pm

OnlyNDaUsa

avatar

benni said:

OnlyNDaUsa said:

To be clear my point is that the March 2001 recession was caused by factors in place while Clinron was in office... Maybe I was not clear. if gore had gotten more votes than bush the same thing would have occurred.


Actually, up until March of that year, we were a strong period of growth and expansion. But then when Bush got into office, he did a tax cut policy, poorly worded. Then when the 9/11 attacks, it essentially shut down the economy.

Per NBER also said the economy might have been able to avoid a recession without the impact of the Sept. 11 terrorist attack, which all but shut down the economy for several days and has had a lasting impact on tourism, the airline industry and other businesses.

"The attacks clearly deepened the contraction and may have been an important factor in turning the episode into a recession," said a statement from NBER.

he cut taxes in hos first 40 days?

Yo! Sam 'Who's the Boss?'
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Reply #20 posted 04/21/20 4:25pm

benni

avatar

OnlyNDaUsa said:

benni said:


Actually, up until March of that year, we were a strong period of growth and expansion. But then when Bush got into office, he did a tax cut policy, poorly worded. Then when the 9/11 attacks, it essentially shut down the economy.

Per NBER also said the economy might have been able to avoid a recession without the impact of the Sept. 11 terrorist attack, which all but shut down the economy for several days and has had a lasting impact on tourism, the airline industry and other businesses.

"The attacks clearly deepened the contraction and may have been an important factor in turning the episode into a recession," said a statement from NBER.

he cut taxes in hos first 40 days?


It was proposed and actually passed both Houses in June. So yes, he started on the tax cuts very early in his presidency.

Trump: "It was hard to get it aroused and it is hard to get it aroused but we got it aroused."
[narrator voice] He's talking about the "American way."
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Reply #21 posted 04/21/20 4:32pm

OnlyNDaUsa

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benni said:

OnlyNDaUsa said:

he cut taxes in hos first 40 days?


It was proposed and actually passed both Houses in June. So yes, he started on the tax cuts very early in his presidency.

...

you mean he ran on tax cuts?

the law was not changed until after the recession... in fact it was not in place until June 7th 2001...


the recession was a result of the economy during the clinton years.

the recession was in March 2001

[Edited 4/21/20 16:33pm]

Yo! Sam 'Who's the Boss?'
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Reply #22 posted 04/21/20 5:10pm

v10letblues

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The only truth is that Clinton brought about great prosperity while also leaving the nation on far greater footing that we would be abused and destroyed by Bush.

.

Bush left office in shame and the country it was on the verge of economic collapse.

Clinton's final four budgets were balanced budgets with surpluses, beginning with the 1997 budget. The ratio of debt held by the public to GDP, a primary measure of U.S. federal debt, fell from 47.8% in 1993 to 33.6% by 2000.

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Reply #23 posted 04/21/20 5:12pm

benni

avatar

OnlyNDaUsa said:

benni said:


It was proposed and actually passed both Houses in June. So yes, he started on the tax cuts very early in his presidency.

...

you mean he ran on tax cuts?

the law was not changed until after the recession... in fact it was not in place until June 7th 2001...


the recession was a result of the economy during the clinton years.

the recession was in March 2001

[Edited 4/21/20 16:33pm]


Yes, he ran on tax cuts, but just as Trump announced the tax cuts that he wanted to do, Bush did too and they passed in June 2001, 3 months after the START of the recession. When Bush took office, there was still an economic growth and expansion, which ended in March. The recession ran from March through November. President George W. Bush began working with Congress to cut taxes immediately upon entering office. On June 7, 2001, President Bush signed the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA), which gave income tax relief to families retroactive to January of that year.


On November 26, 2001, the committee determined that the peak of economic activity had occurred in March of that year. For a discussion of the committee's reasoning and the underlying evidence, see https://www.nber.org/cycl...ember2001. The March 2001 peak marked the end of the expansion that began in March 1991, an expansion that lasted exactly 10 years and was the longest in the NBER's chronology. On July 16, 2003, the committee determined that a trough in economic activity occurred in November 2001. The committee's announcement of the trough is at https://www.nber.org/cycles/july2003. The trough marks the end of the recession that began in March 2001. The 2001 recession thus lasted eight months, which is somewhat less than the average duration of recessions since World War II. The postwar average, excluding the 2001 recession, is eleven months.


As they explain: A recession is a significant decline in activity spread across the economy, lasting more than a few months, visible in industrial production, employment, real income, and wholesale-retail trade. A recession begins just after the economy reaches a peak of activity and ends as the economy reaches its troughe. Between trough and peak, the economy is in an expansion. Expansion is the normal state of the economy; most recessions are brief and they have been rare in recent decades.

Note the highlighted section: When Bush took office, we were still in a peak of activity. Bush did not inherit a recession, which was your comment that started this debated "Bush inherited a recession and then..." We were still in economic growth and expansion when Bush was sworn into the office. And no, just because "they called it for March" does not mean that it started before then. In fact, they NBER did not call it a recession until November of that year, and when they went back and looked at the data, it indicated that we had peaked in March and experienced the trough (or contraction) right after that peak.

Regardless, you are ignoring this:


However, controversy over the precise dates of the recession led to the characterization of the recession as the "Clinton Recession" by Republicans, if it could be traced to the final term of President Bill Clinton. BCDC members suggested they would be open to revisiting the dates of the recession as newer and more definitive data became available. In early 2004, NBER President Martin Feldstein said:
It is clear that the revised data have made our original March date for the start of the recession much too late. We are still waiting for additional monthly data before making a final judgment. Until we have the additional data, we cannot make a decision.
However, the NBER has since confirmed that the recession started in March 2001.

And just who is the NBER? They are the ones who have defined the beginning and ending dates of recessions in the United States.



[Edited 4/21/20 17:13pm]

Trump: "It was hard to get it aroused and it is hard to get it aroused but we got it aroused."
[narrator voice] He's talking about the "American way."
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Reply #24 posted 04/21/20 5:18pm

cborgman

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"But I do understand that boom we have now...that stared the night trump was elected... has more to do with how people FEEL about trump than anything he actually has done.

what was funny is that obama tried to take credit!"

- onlyndausa


.

[Edited 4/21/20 17:29pm]

bye felicia!
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Reply #25 posted 04/21/20 5:31pm

13cjk13

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cborgman said:

"But I do understand that boom we have now...that stared the night trump was elected... has more to do with how people FEEL about trump than anything he actually has done.

what was funny is that obama tried to take credit!"

- onlyndausa


.

[Edited 4/21/20 17:29pm]

Hilarious.

"hey if you found out someone gave you a fake $20 would you be mad?"
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Reply #26 posted 04/21/20 5:37pm

cborgman

avatar

13cjk13 said:

cborgman said:

"But I do understand that boom we have now...that stared the night trump was elected... has more to do with how people FEEL about trump than anything he actually has done.

what was funny is that obama tried to take credit!"

- onlyndausa


.

[Edited 4/21/20 17:29pm]

Hilarious.

if there is one constant we can depend on in these insane times, its that only will flip-flop positions the second it gives him a chance to argue hes smarter than everyone else in the world, including experts.

.

[Edited 4/21/20 18:15pm]

bye felicia!
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Reply #27 posted 04/21/20 5:37pm

OnlyNDaUsa

avatar

cborgman said:

"But I do understand that boom we have now...that stared the night trump was elected... has more to do with how people FEEL about trump than anything he actually has done.

what was funny is that obama tried to take credit!"

- onlyndausa

so the 2001 recession was caused by how people felt about bush? But it did not show itself for what 80 days (afrer it was found Bush won florida and thus the elections)?

Okay? still about half of that time Clinton was in office so it still was a result of the conditions when clinton was president. Notice I did not blame clinton... so yeah.

Yo! Sam 'Who's the Boss?'
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Reply #28 posted 04/21/20 5:52pm

v10letblues

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Bush inherited a great economy and a clear path to the elimination our national debt.

.

He left office having fucked everything up and leaving in disgrace with the nation on the verge of economic collapse.

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Reply #29 posted 04/21/20 5:53pm

cborgman

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v10letblues said:

Bush inherited a great economy and a clear path to the elimination our national debt.

.

He left office having fucked everything up and leaving in disgrace with the nation on the verge of economic collapse.

just as trump has/will in a few months

bye felicia!
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