Why Some Billionaires Will Back Trump: Why would billionaires support such a person? - Economist Paul Krugman

[Dante]

The Nobel Prize recipient, Economist Paul Krugman is not alone in his opinion on this matter.As a columnist for the NYT, Mr. Krugman is known to go out on a limb with opinions and even predictions. He's a great read.

Why would billionaires support such a person?

After all, it’s not as if they’ve been suffering under President Biden. Economists, myself included, often remind people that the stock market is not the economy. Low unemployment and rising real wages — both of which, by the way, the Biden economy has delivered, even if many people don’t believe it — have much more relevance to most people’s lives.

But stock prices are probably a much better indicator of how the very wealthy, who hold a lot of financial assets, are doing. And although in 2020 Trump predicted a stock crash if Biden won, the market has, in fact, been hitting record highs under the current administration.

Opinion | Why Some Billionaires Will Back Trump

It’s about taxes — and a false belief in their own impunity.

www.nytimes.com

Billionaires’ love for Trump could backfire​

Admiration for the former president among business people is politically naive

Billionaires’ love for Trump could backfire

Admiration for the former president among businesspeople is politically naive

www.ft.com

 

[CrusaderFrank]

Yasser Arafat also won a Nobel Prize

 

[Meister]

Paul Krugman?
Just a leftwing schill, nothing more.

 

[MisterBeale]

Yasser Arafat also won a Nobel Prize

 

[MisterBeale]

Economists, myself included, often remind people that the stock market is not the economy. Low unemployment and rising real wages — both of which, by the way, the Biden economy has delivered, even if many people don’t believe it — have much more relevance to most people’s lives.

Can We Trust Data Anymore?

https://lists.youmaker.com/archive/iN2QHVIFZ1/5kdG8QBtO/WJlU6qGPX5j9

"Economists love data. It’s their bread and butter for how they make judgments about economic health. It’s never been perfect. But it’s what they have and there has been a general sense that the professionals behind the data are doing the best they can.

Because of official data, a recession has not been called since the original short one caused by lockdowns in 2020. Since then, the GDP has skated above zero, while unemployment seems not high and the jobs numbers in general have been confusing but not catastrophic. The same goes for other measures like business investment, inventories, purchases, prices, and so on.

In the last 18 months, those of us who follow this stuff carefully have begun to notice anomalies. The official numbers are being spun in press releases in a positive direction but then the underlying data don’t seem to support that. There have been strange things happening such as a huge divergence between household and institutional numbers on jobs. In the pricing indexes, they are being dragged down by weighting strategies that don’t seem to match consumer experience. . . . "

<snip>

". . . . The problem traces to the chaos of lockdowns and the loss of trust of so many businesspeople even to talk to agencies or report numbers to them. Essentially, we are seeing ever lower levels of participation in the kind of polling once considered a normal part of civic life. Many people just don’t want to play the game anymore and have simply stopped answering.

Zumbrun reveals shocking changes in participation in all mainstream economic surveys.

Current population survey participation in 2014: 90 percent. Today: 70 percent.

Consumer Price Index for housing participation in 2014: 71 percent. Today: 58 percent.

Consumer Price Index for commodities and services participation in 2014: 67 percent. Today: 54 percent.

Employment Cost Index participation in 2013: 73 percent. Today: 47 percent.

Current Expenditures interview participation in 2014: 67 percent. Today: 42 percent.

Current employment statistics participation in 2014: 63 percent. Today: 42 percent.

Job openings and labor turnover participation in 2014: 65 percent. Today: 32 percent.

“Other types of error are potentially much bigger,” he writes. “What if the people who don’t respond to surveys are much different than those who do? What we end up with is data that’s just fuzzier than it used to be.”

One does wonder. Zumbrun ominously observes: “This has created an environment in which it’s easy to cherry pick a starting point for data comparisons and come up with nearly any result you would like .... It’s no surprise that many people don’t totally know what to make of it all.”

Any result? Yes. And that’s the problem. If all of this is correct, we don’t really know the inflation rate. We don’t know the GDP. We don’t know the jobs situation. We don’t know expenditures. We don’t know much of anything we cite as a signal of economic health.

A lot of this problem traces to the incredible chaos that began in 2020. It prompted our journalist friend to offer his “fairly severe” critique on the problems with data. . . ."

 

[Concerned American]

Paul Krugman?
Just a leftwing schill, nothing more.

Biden has presided over a lackluster DJIA increase of just over 8K. Trump presided over an increase of 12K in a couple of months. LOL, that is misleading, but overall DJT's DJIA increase over his admin of 12K.

 

[Concerned American]

Can We Trust Data Anymore?

https://lists.youmaker.com/archive/iN2QHVIFZ1/5kdG8QBtO/WJlU6qGPX5j9

View attachment 927652

"Economists love data. It’s their bread and butter for how they make judgments about economic health. It’s never been perfect. But it’s what they have and there has been a general sense that the professionals behind the data are doing the best they can.

Because of official data, a recession has not been called since the original short one caused by lockdowns in 2020. Since then, the GDP has skated above zero, while unemployment seems not high and the jobs numbers in general have been confusing but not catastrophic. The same goes for other measures like business investment, inventories, purchases, prices, and so on.

In the last 18 months, those of us who follow this stuff carefully have begun to notice anomalies. The official numbers are being spun in press releases in a positive direction but then the underlying data don’t seem to support that. There have been strange things happening such as a huge divergence between household and institutional numbers on jobs. In the pricing indexes, they are being dragged down by weighting strategies that don’t seem to match consumer experience. . . . "

<snip>

". . . . The problem traces to the chaos of lockdowns and the loss of trust of so many businesspeople even to talk to agencies or report numbers to them. Essentially, we are seeing ever lower levels of participation in the kind of polling once considered a normal part of civic life. Many people just don’t want to play the game anymore and have simply stopped answering.

Zumbrun reveals shocking changes in participation in all mainstream economic surveys.

Current population survey participation in 2014: 90 percent. Today: 70 percent.

Consumer Price Index for housing participation in 2014: 71 percent. Today: 58 percent.

Consumer Price Index for commodities and services participation in 2014: 67 percent. Today: 54 percent.

Employment Cost Index participation in 2013: 73 percent. Today: 47 percent.

Current Expenditures interview participation in 2014: 67 percent. Today: 42 percent.

Current employment statistics participation in 2014: 63 percent. Today: 42 percent.

Job openings and labor turnover participation in 2014: 65 percent. Today: 32 percent.

“Other types of error are potentially much bigger,” he writes. “What if the people who don’t respond to surveys are much different than those who do? What we end up with is data that’s just fuzzier than it used to be.”

One does wonder. Zumbrun ominously observes: “This has created an environment in which it’s easy to cherry pick a starting point for data comparisons and come up with nearly any result you would like .... It’s no surprise that many people don’t totally know what to make of it all.”

Any result? Yes. And that’s the problem. If all of this is correct, we don’t really know the inflation rate. We don’t know the GDP. We don’t know the jobs situation. We don’t know expenditures. We don’t know much of anything we cite as a signal of economic health.

A lot of this problem traces to the incredible chaos that began in 2020. It prompted our journalist friend to offer his “fairly severe” critique on the problems with data. . . ."

Liars, Damn Liars and Statisticians.

 

[Dante]

Yasser Arafat also won a Nobel Prize

Peace Prizes and Prizes in Economics --Apples and Oranges.

But run with it. It's a vapid argument inferred through imbecilic shit.

 

[Dante]

Biden has presided over a lackluster DJIA increase of just over 8K. Trump presided over an increase of 12K in a couple of months. LOL, that is misleading, but overall DJT's DJIA increase over his admin of 12K.

U.S. Employers Added 303,000 Jobs in 39th Straight Month of Growth​

The March data increased confidence among economists and investors that robust hiring and rising wages can continue to coexist while inflation eases.

U.S. Employers Added 303,000 Jobs in 39th Straight Month of Growth

The March data increased confidence among economists and investors that robust hiring and rising wages can continue to coexist while inflation eases.

www.nytimes.com

 

[marvin martian]

The Nobel Prize recipient, Economist Paul Krugman is not alone in his opinion on this matter.As a columnist for the NYT, Mr. Krugman is known to go out on a limb with opinions and even predictions. He's a great read.

Why would billionaires support such a person?

After all, it’s not as if they’ve been suffering under President Biden. Economists, myself included, often remind people that the stock market is not the economy. Low unemployment and rising real wages — both of which, by the way, the Biden economy has delivered, even if many people don’t believe it — have much more relevance to most people’s lives.

But stock prices are probably a much better indicator of how the very wealthy, who hold a lot of financial assets, are doing. And although in 2020 Trump predicted a stock crash if Biden won, the market has, in fact, been hitting record highs under the current administration.

Opinion | Why Some Billionaires Will Back Trump

It’s about taxes — and a false belief in their own impunity.

www.nytimes.com

Billionaires’ love for Trump could backfire​

Admiration for the former president among business people is politically naive

Billionaires’ love for Trump could backfire

Admiration for the former president among businesspeople is politically naive

www.ft.com

Remember when Krugman said Trump's election would cause a global recession we would never recover from?

LOL, Krugman is such an assclown. No wonder you're a fan.

 

[Concerned American]

U.S. Employers Added 303,000 Jobs in 39th Straight Month of Growth​

The March data increased confidence among economists and investors that robust hiring and rising wages can continue to coexist while inflation eases.

U.S. Employers Added 303,000 Jobs in 39th Straight Month of Growth

The March data increased confidence among economists and investors that robust hiring and rising wages can continue to coexist while inflation eases.

www.nytimes.com

NYT. Most jobs created were returns from those lost due to covid. The remainder are mostly part time or fake news that has been adjusted down. Don't be disingenuous. You also might want to ask the Quaker Oats employees in Danville, IL about their jobs as well as the fast food workers in CA that went from having $15/hr jobs to no jobs due to an increase in wages. Pyrrhic victory, LMAO.

 

[Harpy Eagle]

Most jobs created were returns from those lost due to covid.

Those jobs were more than made up by June of 2022, since then it is all new jobs

 

[MisterBeale]

Paul Krugman?
Just a leftwing schill, nothing more.

IMO? He has been wrong about more stuff than he has been right.

Subs for the NYT would probably go up, if they'ld just can his ass. . .

 

[Harpy Eagle]

You also might want to ask the Quaker Oats employees in Danville, IL about their jobs as well

Indeed, ask Quaker why they had not upgraded the 50 year old plant to the point things got so bad there it led to food contamination in the Quaker product

 

[MisterBeale]

U.S. Employers Added 303,000 Jobs in 39th Straight Month of Growth​

The March data increased confidence among economists and investors that robust hiring and rising wages can continue to coexist while inflation eases.

U.S. Employers Added 303,000 Jobs in 39th Straight Month of Growth

The March data increased confidence among economists and investors that robust hiring and rising wages can continue to coexist while inflation eases.

www.nytimes.com

So the politicians and FED, destroy the value of the dollar, and now more poor, and lower middle class folks need more gig jobs and minimum wage jobs. . . and this? Is something you bleev needs crowing about?

You do know, these aren't good, high paying jobs, right?





. . . and then? Cali tries to do something about this?



So you do know what they are going to do?


Just hire a bunch of illegals.

 

[Dante]

Remember when Krugman said Trump's election would cause a global recession we would never recover from?

LOL, Krugman is such an assclown. No wonder you're a fan.

Yep. So he's wrong a few times. He actually writes columns laughing at it.

Yet you people followed Lying Tucker for years, even after he won a lawsuit claiming nobody could believe what he says is factual. They you followed his lies that cost FOX a billion.

And you follow the Leader Mr. Trump who is an admitted 'Great Whiner' and a proven serial liar.

 

[Dante]

NYT. Most jobs created were returns from those lost due to covid. The remainder are mostly part time or fake news that has been adjusted down. Don't be disingenuous. You also might want to ask the Quaker Oats employees in Danville, IL about their jobs as well as the fast food workers in CA that went from having $15/hr jobs to no jobs due to an increase in wages. Pyrrhic victory, LMAO.

Recovery fails you.

Go talk to the people in Coal Country about how Trump's promise to bring back coal worked out.

 

[Dante]

Indeed, ask Quaker why they had not upgraded the 50 year old plant to the point things got so bad there it led to food contamination in the Quaker product

I'm throwing out my Oatmeal.

 

[Harpy Eagle]

I'm throwing out my Oatmeal.

The plant in Danville has been closed since Dec and Quaker now says it would cost too much to get it up to modern specs, so they are shutting it down.

And these fucking sheep think it happened due to the economy.

They want, even pray for bad shit to happen to the country so their beloved party can win a few more votes.

Fuck them all

 

[Concerned American]

Indeed, ask Quaker why they had not upgraded the 50 year old plant to the point things got so bad there it led to food contamination in the Quaker product

You're an idiot. Quaker Oats didn't sit on their hands with no improvements to that property. If you believe that, you aren't as smart as I've given you credit for. I worked for the world's largest company in their industry. Family owned and operated for 91 years in the same building. Improvements go on nonstop. Pepsico didn't let that plant run down and you don't know what you are talking about so just STFU and move to Panama.