Trump Is Digging His Own Economic Grave (#2)

[theHawk]

Very good analysis on what Trumps doing wrong on the economy & government. From Mises.
Lot's of information.

Trump Is Digging His Own Economic Grave​

Last week, exactly one month after the Bureau of Labor Statistics released a jobs report bad enough to convince President Trump to fire the BLS commissioner, the bureau released a new jobs report that was even worse.

And here's the video.

​

P.S. There's plenty of videos thread starters posted here with just a short description of what the video is about. So can someone tell me why the other thread was locked? The rules don't say a video must accompany an article.

Illegal aliens are fleeing their jobs or being deported. This is exactly the job loss we want. Meanwhile American citizens are getting jobs now.

 

[YoursTruly]

Illegal aliens are fleeing their jobs or being deported. This is exactly the job loss we want. Meanwhile American citizens are getting jobs now.

Incredible. You found a way to spin the dismal job report as something good for Trump. Even though most illegals on jobs aren't reported as jobs gained or loss. They're under the radar.

 

[theHawk]

Incredible. You found a way to spin the dismal job report as something good for Trump. Even though most illegals on jobs aren't reported as jobs gained or loss. They're under the radar.

Nope, those jobs are counted.

 

[YoursTruly]

Nope, those jobs are counted.

Prove it. Because illegals LOVE those jobs that aren't counted or reported.

 

[AntonToo]

Biden's stock market "records" were phony, based on printed money and high inflation. Trump's records are real with low inflation.

Inflation rate in 2025 is so far about the same as 2024...whoops there goes the bs.

 

[YoursTruly]

Inflation rate in 2025 is so far about the same as 2024...whoops there goes the bs.

Now throw in the fact that the USD has lost over 10% of it's value just since Trump took office.
I'm not saying it was all Trumps fault. In fact most of it comes from Biden. But Trump is now borrowing & spending more than Biden. So the loss of USD is only going to increase.
And since this a direct fault of the government, then you could say it's a tax on us all.

By the time Trump leaves office in 2028, $20hr will be a poverty wage.

 

[AntonToo]

Now throw in the fact that the USD has lost over 10% of it's value just since Trump took office.
I'm not saying it was all Trumps fault. In fact most of it comes from Biden. But Trump is now borrowing & spending more than Biden. So the loss of USD is only going to increase.
And since this a direct fault of the government, then you could say it's a tax on us all.

By the time Trump leaves office in 2028, $20hr will be a poverty wage.

Dollar gained 40% between 2010 and 2024, amid big deficit expansion. Not only that, Fed balances have DECLINED since 2022, to address inflation.


Primarily dollar decline is based on bleak growth outlook:

The consensus after the 2024 election of U.S. President Donald Trump was that another period of U.S. growth outperformance was about to begin, with strong economic expansion, continued capital inflows and outperformance of U.S. equities and the dollar.

That view changed in April after announcements about tariffs and the subsequent policy and economic uncertainties. Increasing worries about growth, inflation and public debt added negative pressure on the greenback. The U.S. dollar index lost almost 7% from the beginning of April to the end of June.  

https://www.morganstanley.com/insights/articles/us-dollar-declines

What happened to the growth outlook? In short, Trump's policies happened to it. Tariffs are fundamentally a contractionary and inflationary policy and is keeping up the interest rates when they should be coming down.


Trump has high-jacked traditionally free-market leaning Republican position and rightwingers went right along for the train-wreck ride like the cult that they are.

 

[YoursTruly]

Dollar gained 40% between 2010 and 2024, amid big deficit expansion. Not only that, Fed balances have DECLINED since 2022, to address inflation.


Primarily dollar decline is based on bleak growth outlook:

The consensus after the 2024 election of U.S. President Donald Trump was that another period of U.S. growth outperformance was about to begin, with strong economic expansion, continued capital inflows and outperformance of U.S. equities and the dollar.

That view changed in April after announcements about tariffs and the subsequent policy and economic uncertainties. Increasing worries about growth, inflation and public debt added negative pressure on the greenback. The U.S. dollar index lost almost 7% from the beginning of April to the end of June.  

https://www.morganstanley.com/insights/articles/us-dollar-declines

What happened to the growth outlook? In short, Trump's policies happened to it. Tariffs are fundamentally a contractionary and inflationary policy and is keeping up the interest rates when they should be coming down.


Trump has high-jacked traditionally free-market leaning Republican position and rightwingers went right along for the train-wreck ride like the cult that they are.

The USD has never actually gained any value. Especially not that much. It's consistantly decreased in value. Especially since the 80's.

No, the statement "Dollar gained 40% in value between 2010 and 2024" is not true. The U.S. dollar actually lost approximately 28.6% of its purchasing power over that period due to cumulative inflation, based on data from the U.S. Bureau of Labor Statistics (BLS) Consumer Price Index (CPI). In other words, $1 in 2010 had the same buying power as about $1.286 in 2024—meaning the dollar's value declined, not increased.

 

[AntonToo]

The USD has never actually gained any value. Especially not that much. It's consistantly decreased in value. Especially since the 80's.

No, the statement "Dollar gained 40% in value between 2010 and 2024" is not true. The U.S. dollar actually lost approximately 28.6% of its purchasing power over that period due to cumulative inflation, based on data from the U.S. Bureau of Labor Statistics (BLS) Consumer Price Index (CPI). In other words, $1 in 2010 had the same buying power as about $1.286 in 2024—meaning the dollar's value declined, not increased.

The original 10% number you are citing, what is that?

That't not inflation, that is dollar vs other currencies, not dollar purchasing power. By that same measure it gained 40% from 2010 to 2024.

Also, untill Covid disruptions we've had inflation more or less at "ideal" target level of 2%.

 

[Mashmont]

Inflation rate in 2025 is so far about the same as 2024...whoops there goes the bs.

Every month fro Jan to June of this year was lower than every month of 2024.

 

[Mashmont]

Now throw in the fact that the USD has lost over 10% of it's value just since Trump took office.
I'm not saying it was all Trumps fault. In fact most of it comes from Biden. But Trump is now borrowing & spending more than Biden. So the loss of USD is only going to increase.
And since this a direct fault of the government, then you could say it's a tax on us all.

By the time Trump leaves office in 2028, $20hr will be a poverty wage.

I’d like to listen to your complaining. But my wife and I are going new car shopping next week.

 

[AntonToo]

Every month fro Jan to June of this year was lower than every month of 2024.

Hey look, another rightwinger that can’t do basic analysis.

 

[YoursTruly]

I’d like to listen to your complaining. But my wife and I are going new car shopping next week.

Next week? That's a lie.

 

[YoursTruly]

The original 10% number you are citing, what is that?

That't not inflation, that is dollar vs other currencies, not dollar purchasing power. By that same measure it gained 40% from 2010 to 2024.

Also, untill Covid disruptions we've had inflation more or less at "ideal" target level of 2%.

The value of the USD. Not how it stacks against other currencies. Not how it stacks against inflation. But it's actual purchasing power.

IE the USD since 1980 has lost almost 300% of it's value.

This means prices have risen by approximately 292% since 1980, so $1 in 1980 has the same purchasing power as about $3.92 in 2025.

Inflation is a factor. But the USD value is the bottom line. Inflation can decrease. But the USD value always decreases.

This is why $15hr is a poverty wage in the USA. $5hr should be a middle class wage.

 

[Mashmont]

Hey look, another rightwinger that can’t do basic analysis

Anybody who says the economy is tanking can’t do basic analysis.

 

[Mashmont]

Next week? That's a lie.

You’re right. We might go today.

 

[Care4all]

Meanwhile, people are enjoying the economic prosperity.

Who?

 

[AntonToo]

Anybody who says the economy is tanking can’t do basic analysis.

Yep, can't do basic data comparison, posts bullshit, then gets called on it, and instead simply admitting the claim was false tries to deflect to some fluff about tanking.

Pathetic.

 

[Mashmont]

Yep, can't do basic data comparison, posts bullshit, then gets called on it, and instead simply admitting the claim was false tries to deflect to some fluff about tanking.

Pathetic.

What's pathetic is you people taking a roaring economy like we have and pretending it's in the crapper just because you're angry Trump did it. The great man has inflation way down from where your Alzheimer's patient had it.

 

[AntonToo]

What's pathetic is you people taking a roaring economy

Dummy nobody "took it", it's called looking at objective economic indicators.

No sane economist is calling current economy "roaring" because GDP growth is low, job growth is very weak, dollar lost 10% and inflation is now at 3% annualized rate.

You've claimed that inflation for every month in 2025 was lower than in 2024. That was factually false and instead of simply admitting that you try to switch topic...to yet more silly bullshit.