700 esteemed economists, including more than a half dozen Nobel Prize winners, have signed an open letter urging voters to reject Donald Trump

basquebromance

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i remember the saying: it's the economy, fuckface!

 

Dont Taz Me Bro

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Didn't Nobel Laureate Paul Krugman say the same thing in 2016?

It is a hypothesis among some in Wall Street that Biden would keep the market more stable. Trump has caused several ups and downs in the DOW with his tweets.
 

Billy_Kinetta

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Mac1958

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Sure. This hyper-Keynesian spending, the Fed jumping in constantly to save our ass, massive deficits and trashed bond markets can't continue. And now the stock market is completely decoupled from the economy, rising and falling depending on how much the government and Fed are going to step in, rather than on anticipated corporate earnings directly. This is a mess. This is not capitalism.

This stuff isn't covered by talk radio, but the industry knows it ain't good. Trump has been feeding us junk food and telling us it's good for us. We need to get back to fiscal sanity NOW.
 
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Oddball

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i remember the saying: it's the economy, fuckface!

XiNN....GIGO.

Most economists themselves are guilty of spreading dangerous misinformation.
 

andaronjim

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i remember the saying: it's the economy, fuckface!

700 esteemed? Yeah, right, it is the Prog elites against the middle class, and the president out there exposing the progs for what they are. Progs, lie, steal, cheat, to make themselves richer while taking our taxes which was supposed to help US....Fuck you all, you worthless progs....
 

Votto

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We need to be more like Venezuela!
Interesting.

How many of these economists warn against the Venezuelan economy?

My guess is none of them, so I guess they want us all to eat out of garbage cans like they do in Venezuela.

That must be it
 

Votto

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Sure. This hyper-Keynesian spending, the Fed jumping in constantly to save our ass, massive deficits and trashed bond markets can't continue. And now the stock market is completely decoupled from the economy, rising and falling depending on how much the government and Fed are going to step in, rather than on anticipated corporate earnings directly. This is a mess. This is not capitalism.

This stuff isn't covered by talk radio, but the industry knows it ain't good. Trump has been feeding us junk food and telling us it's good for us. We need to get back to fiscal sanity NOW.
Hey everyone, let's spend more on health care by expanding Obamacare and implement the New Green Deal and give everyone free college like Biden wants!

That will make Trump look frugal.
 

jbrownson0831

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i remember the saying: it's the economy, fuckface!

"Esteemed" economists? In other words, 700 wacko libbers. Are they global warming scientists too??
 

Correll

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i remember the saying: it's the economy, fuckface!


So, they are economists yet their complaints are not based on their area of expertise?

They are welcome to fuck off and die.
 

Shelzin

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Sure. This hyper-Keynesian spending, the Fed jumping in constantly to save our ass, massive deficits and trashed bond markets can't continue. And now the stock market is completely decoupled from the economy, rising and falling depending on how much the government and Fed are going to step in, rather than on anticipated corporate earnings directly. This is a mess. This is not capitalism.

This stuff isn't covered by talk radio, but the industry knows it ain't good. Trump has been feeding us junk food and telling us it's good for us. We need to get back to fiscal sanity NOW.
No... We should have had fiscal sanity yesterday. A thousand yesterdays ago.

I don't see Biden doing that. Don't really see Trump doing that either, but at least it'll be better with Trump doing it. Open back up the economy, not keep it closed and pay people to do nothing.
 

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esalla

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i remember the saying: it's the economy, fuckface!

LOL are you looking forward to paying more taxes?

Or do people like you on welfare not pay taxes
 

Gdjjr

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How Long Can the Fed Keep This Time Bomb from Exploding?

Since the outbreak of the coronavirus, the United States has experienced one of the most unprecedented economic interventions in all of its history. Since March and April both the Federal Reserve and the US federal government have injected trillions into the economy in hopes of stabilizing it and reducing unemployment. At

the expense of the public, both institutions have handicapped themselves for the future, and it will be extremely difficult to ever return to a “normalized” policy situation without triggering a larger economic crisis.

On February 11, 2020, Federal Reserve chairman Jerome Powell delivered a semiannual report wherein he laid out the present risks that both the Fed and the federal government face. Some of the risks addressed were low interest rates spurred by the Fed and burdensome debt from the federal government that would limit the ability of both institutions to provide the necessary stability when an economy goes into a downturn. By the next day, the Dow Jones had reached an all-time high of 29,551.42. The rise in equity prices sparked confidence in the market and, for the most part, overlooked the risks that the coronavirus had in store for both the nation and the world.

By March, as concerns over the covid-19 virus spread, many investors began to question the sustainability of profits for businesses as mass lockdowns became a policy implemented throughout the world. On March 11, the World Health Organization (WHO) declared the coronavirus a pandemic, as the world had over 118,000 cases, and on that same day, the United States entered into a bear market as the Dow fell 20 percent from its peak.


Immediately following, the Federal Reserve on March 13 began to inject $1.5 trillion in liquidity through repurchase operations (short-term loans) through incremental portions of $500 billion over the next three months. In addition, the Fed two days later cut the federal funds rate an entire percent, to 0–0.25 percent, and injected an additional $700 billion in liquidity into the markets. The intervention by the Fed was not well accepted, as the Dow Jones declined another 12.3 percent, reaching what Wall Street viewed as a low of 18,591.93 on March 23.


While panic brewed in the markets, state governments across the United States began to impose stay-at-home orders during the month of March that would last up until the end of May in most areas. The stay-at-home orders ordered any “nonessential” business to be closed, whether it was movie theaters, gyms, or sporting events. In response, Congress formulated a stimulus plan known as the CARES Act (Coronavirus Aid, Relief, and Economic Security Act) that would provide $2.2 trillion of liquidity to businesses in the forms of loans and grants and checks of up to $1,200 to individuals depending on their income. After days of debate, it was passed by Congress and finally signed by President Trump on March 27. The stay-at-home orders, which closed or partially closed many businesses, were in effect, resulted in the unemployment rate rising to 4.4 percent, with 701,000 jobs lost by the end of March.

snip


As politicians and economists in Washington deem what is appropriate for the American people, it will be the very individual for whom these policies were intended who will have to eventually pay for these policies, whether through inflation or taxation. Unfortunately for the American citizen, when the plans of Washington are successful, it is the politicians and their special interests who reap the rewards. At the same time, any mistakes incurred are deferred upon the citizen. The reader must ask themselves again, How much longer will this go on? Unfortunately, the policies of intervening within the market may go on for much longer than we hope, for the addiction to cheap money only increases the appetite of a hungry government. As the prominent Austrian economist, Henry Hazlitt said,


The only way government bureaucrats know of keeping prosperity going is to inflate some more—to increase the deficit or to pump more money into the system.
 

Prof.Lunaphiles

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"For these reasons, we strongly recommend that the electorate do what no one else can: reclaim your democracy by voting to remove Donald Trump from office," the economists wrote.
And the conservative pundits say we are going to lose the democracy if Biden wins.
 

BULLDOG

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All those signers of that open letter are impressive, but it won't make a bit of difference. Trump idiots don't care what smart people think, and will stick to him no matter what anybody says or does. Sane people didn't need that letter to understand Trump is a disgusting pig anyway.
 

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