Stable genius economics: The Trump Economy's Lousy Week: Dow Dives, Tariffs Bite, CapEx Slows

[Denizen]

Perhaps a new branch of economics has evolved since the appearance of Trump. Stable genius economics where the objective is bankruptcy.

Exports are down, imports are up, Soybean sales down 97%.

Roll the dice again stable genius Donald Trump.

Trump Economy Had Lousy Week As Dow Jones Dives, Trump Tariffs Bite

The Trump Economy's Lousy Week: Dow Dives, Tariffs Bite, CapEx Slows

Trumponomics just had its worst week. The sinking Dow Jones, S&P 500 and Nasdaq composite were hardly the only red flags. While GDP is growing briskly and wage growth has accelerated — damage from Trump tariffs and slowing business investment are beginning to raise a few doubts about the sustainability of the Trump boom.

Central to Trumponomics is the notion that the U.S. can have its cake and eat it too, that there aren't trade-offs in economic policy. In other words, it's possible to put the fiscal pedal to the metal without worrying about higher interest rates and a higher dollar. Trade wars are good, easy to win and won't impede a U.S. investment boom and a roaring bull market.

The news this week offers some reason to wonder whether the heyday of Trumponomics might be winding down and a string of negative economic surprises are around the corner.

Winning The Trade War?
Goods exports slid 7% in the third quarter, the biggest drop since early 2015, Commerce Data show. That probably reflects at least some payback from strong export growth in the second quarter, when U.S. exporters sought to get ahead of the China trade war and its tit-for-tat tariffs that started hitting in July.

Yet it also may reflect lost business. The USDA reported that U.S. soybean exports to China over the past seven weeks tumbled 97% vs. a year ago. China's retaliatory tariffs on soybeans help explain the steep drop, though higher inventories in China also are a factor.

Meanwhile, motor vehicle exports to China plunged 56% from a year ago in August, and Beijing's tariff hike on U.S. vehicle imports likely bear some of the blame. BMW has reportedly moved some China-bound SUV manufacturing from South Carolina to avoid Chinese tariffs. This week, Daimler (DDAIF) said it's looking at moving some SUV manufacturing from Alabama for the same reason, though no decisions have been made.

Conversely, goods imports surged 10.3% in Q3, likely related to getting ahead of the Trump tariffs on $200 billion in Chinese imports that took effect in late September. Those China tariffs are set to escalate to 25% on Jan. 1 if there's no deal before then.

 

[JBvM]

Perhaps a new branch of economics has evolved since the appearance of Trump. Stable genius economics where the objective is bankruptcy.

Exports are down, imports are up, Soybean sales down 97%.

Roll the dice again stable genius Donald Trump.

Trump Economy Had Lousy Week As Dow Jones Dives, Trump Tariffs Bite

The Trump Economy's Lousy Week: Dow Dives, Tariffs Bite, CapEx Slows

Trumponomics just had its worst week. The sinking Dow Jones, S&P 500 and Nasdaq composite were hardly the only red flags. While GDP is growing briskly and wage growth has accelerated — damage from Trump tariffs and slowing business investment are beginning to raise a few doubts about the sustainability of the Trump boom.

Central to Trumponomics is the notion that the U.S. can have its cake and eat it too, that there aren't trade-offs in economic policy. In other words, it's possible to put the fiscal pedal to the metal without worrying about higher interest rates and a higher dollar. Trade wars are good, easy to win and won't impede a U.S. investment boom and a roaring bull market.

The news this week offers some reason to wonder whether the heyday of Trumponomics might be winding down and a string of negative economic surprises are around the corner.

Winning The Trade War?
Goods exports slid 7% in the third quarter, the biggest drop since early 2015, Commerce Data show. That probably reflects at least some payback from strong export growth in the second quarter, when U.S. exporters sought to get ahead of the China trade war and its tit-for-tat tariffs that started hitting in July.

Yet it also may reflect lost business. The USDA reported that U.S. soybean exports to China over the past seven weeks tumbled 97% vs. a year ago. China's retaliatory tariffs on soybeans help explain the steep drop, though higher inventories in China also are a factor.

Meanwhile, motor vehicle exports to China plunged 56% from a year ago in August, and Beijing's tariff hike on U.S. vehicle imports likely bear some of the blame. BMW has reportedly moved some China-bound SUV manufacturing from South Carolina to avoid Chinese tariffs. This week, Daimler (DDAIF) said it's looking at moving some SUV manufacturing from Alabama for the same reason, though no decisions have been made.

Conversely, goods imports surged 10.3% in Q3, likely related to getting ahead of the Trump tariffs on $200 billion in Chinese imports that took effect in late September. Those China tariffs are set to escalate to 25% on Jan. 1 if there's no deal before then.

Largest 'Dairy state is California. California Dairy folks are hurting. Bleak outlook in near future. Years to recover

 

[JBvM]

Clueless insensitivity is a genetic trait with that family

Ivanka Trump Brags About ‘Booming Economy’ In Visit To Area Of Kentucky Hit Hard By Job Losses And Poverty

Ivanka Trump Brags About ‘Booming Economy’ In Visit To Area Of Kentucky Hit Hard By Job Losses And Poverty

 

[The Purge]

California Ranks as Poorest State, One of the Worst for Income Inequality

Despite all the wealth in the state and the Democrat control of state government, California actually ranks as the poorest state in the country after costs of living are factored in. A whopping 19 percent of Californians live below the poverty line. While California represents just 12 percent of the nation’s population,

Californians represent a third of all Americans on welfare. The average monthly cost of rent in the state is 43 percent higher than the national average. Nearly a third of Californians spend more than half of their earnings on housing. The situation is made worse by skyrocketing energy costs. “Residents who can afford rent or a mortgage are on the hook for electricity rates burdened by green initiatives and regulation that grew 500 percent faster than the national average from 2011 to 2017.”

Read more at pjmedia.com ...

 

[JBvM]

California Ranks as Poorest State, One of the Worst for Income Inequality

Despite all the wealth in the state and the Democrat control of state government, California actually ranks as the poorest state in the country after costs of living are factored in. A whopping 19 percent of Californians live below the poverty line. While California represents just 12 percent of the nation’s population,

Californians represent a third of all Americans on welfare. The average monthly cost of rent in the state is 43 percent higher than the national average. Nearly a third of Californians spend more than half of their earnings on housing. The situation is made worse by skyrocketing energy costs. “Residents who can afford rent or a mortgage are on the hook for electricity rates burdened by green initiatives and regulation that grew 500 percent faster than the national average from 2011 to 2017.”

Read more at pjmedia.com ...

too bad not many people trust pjm LOL

 

[Billy_Bob]

LOL...

Market makes a correction and left wingers go into the "sky is falling" screaming at the sky....

As for dairy, the tariffs into Canada are gone and our goods are moving there rapidly... Your full of shit as most farmers are doing much better in the bread basket.. California regulations are what is killing your farmers..

 

[JBvM]

California's economy of $2.7 trillion sits behind the United States, China, Japan and Germany. California's large economy is attributed to its thriving tech sector and Hollywood, according to the Associated Press. It has 12% of the U.S. population, but has contributed 16% of total job growth between 2012 and 2017.May 5, 2018

all we have to do is wait and give states like Texas a chance to catch up with California. Deadbeats and whiners are leaving California and moving to paces like Texas. Complainers, whiners, the very people who shit all over California

 

[JBvM]

LOL...

Market makes a correction and left wingers go into the "sky is falling" screaming at the sky....

As for dairy, the tariffs into Canada are gone and our goods are moving there rapidly... Your full of shit as most farmers are doing much better in the bread basket..

What did
Trump say about past corrections?

Give it a break. Trumponomics will kill any short term benefits of the help the Congress gave to the wealthy class

and wait .. medicare, social security cuts coming. gotta pay for those wealthy people's tax breaks

 

[The Purge]

California Ranks as Poorest State, One of the Worst for Income Inequality

Despite all the wealth in the state and the Democrat control of state government, California actually ranks as the poorest state in the country after costs of living are factored in. A whopping 19 percent of Californians live below the poverty line. While California represents just 12 percent of the nation’s population,

Californians represent a third of all Americans on welfare. The average monthly cost of rent in the state is 43 percent higher than the national average. Nearly a third of Californians spend more than half of their earnings on housing. The situation is made worse by skyrocketing energy costs. “Residents who can afford rent or a mortgage are on the hook for electricity rates burdened by green initiatives and regulation that grew 500 percent faster than the national average from 2011 to 2017.”

Read more at pjmedia.com ...

too bad not many people trust pjm LOL

Only losers don't, but you knew that, you're a smart boy.

 

[JBvM]

Trump’s middle-class tax cut is a fairy tale that distracts from the real midterm stakes

facts matter

 

[The Purge]

We're In the Correction Phase of Bull Market With Room to Run

Taking all of these factors into account, I believe we are going through a necessary correction prior to the next upleg, which should occur after the mid-term election, regardless as to whether the Democrats take control of the House of Representatives or not. Earnings will continue to drive the market and the prospects for earnings growth in the U.S. for 2019 remain strong in spite of what is happening elsewhere in the world.

Read more at realclearmarkets.com .

 

[The Purge]

Trump’s middle-class tax cut is a fairy tale that distracts from the real midterm stakes

facts matter

VOX.....ROTFLMFAO!

 

[JBvM]

PJ Media - Media Bias/Fact Check

again

facts matter

 

[The Purge]

Trump’s middle-class tax cut is a fairy tale that distracts from the real midterm stakes

facts matter

Is that like Nancy Piglousi's CRUMBS?

 

[The Purge]

PJ Media - Media Bias/Fact Check

again

facts matter

ANOTHER left wing FACT CHECKER....LOLOLOL!

 

[The Purge]

The US economy grew at a 3.5% pace in the third quarter, faster than expected!!!

The U.S. economy grew at a faster-than-expected rate in the third quarter as inflation was kept in check and consumer spending surged, according to data released by the Commerce Department on Friday.

Gross domestic product expanded by a 3.5 percent annual rate. Economists polled by Dow Jones expected the economy to expand by a 3.4 percent annual rate.

The department said the PCE price index, a key measure of inflation, increased by 1.6 percent last quarter, much less than the 2.2 percent increase expected by economists polled by StreetAccount.

Read more at cnbc.com ...

Oh look, CNBC...A right wing site!!!...LOLOL!

 

[JBvM]

The Pinocchio Test
Many of the eight factors we examined tell a common story — the start of Trump’s economy follows the trend set by the last years of Obama’s economy. We’ll keep an eye out as the president’s policy changes — from tariffs to taxes — settle into the U.S. and global markets, but as of now, Trump is still working off the base Obama built.

https://www.washingtonpost.com/politics/2018/09/18/trump-economy-versus-obama-economy/


Job growth continues its five year trend

The economy is on pace to add 2.5 million jobs this year, above 2016 and 2017 figures but below 2014 and 2015. It could be difficult to exceed 2015’s 2.71 million due to the challenges companies have finding people with the right skills. Additionally, the administration’s tightening immigration policy could put a damper on not just having enough people for organizations to hire, but also having people with the right talents and expertise.

Trump's Economic Scorecard: Midterm Election Check-Up


Trump's trade war took a stunning bite out of the US economy, and it's the strongest evidence yet that he's shooting himself in the foot

https://www.businessinsider.com/gdp-trump-tariff-trade-war-us-china-2018-10

 

[Billy_Bob]

LOL...

Market makes a correction and left wingers go into the "sky is falling" screaming at the sky....

As for dairy, the tariffs into Canada are gone and our goods are moving there rapidly... Your full of shit as most farmers are doing much better in the bread basket..

What did
Trump say about past corrections?

Give it a break. Trumponomics will kill any short term benefits of the help the Congress gave to the wealthy class

and wait .. medicare, social security cuts coming. gotta pay for those wealthy people's tax breaks

 

[deanrd]

Trump makes it clear to me why so many people are afraid of clowns.

 

[The Purge]

Exports rose 1.8%, or $2.5 billion, while imports rose 1.5%, or $3.1 billion. Economists had forecast a deficit of $76.2 billion.