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Thread: Another miss...

  1. #1

    Another miss...

    ...waiting all day for somd's resident economic numnuts, Gilligan, to post this report...

    U.S. Consumer Sentiment Declines to Lowest in Almost a Year

    Consumers showed a broad drop in confidence about major purchases, a possible caution signal for spending following strong gains in the second quarter, with the decline in the main sentiment gauge concentrated among households in the bottom third of incomes. Buying conditions for large household durable goods slipped to the lowest level in almost four years, vehicle-buying views were the least favorable since 2013, and home-buying conditions were seen less favorably than any time in about a decade.
    Respondents also continued to express concern about how trade tensions may affect the economy. Negative references to levies remained widespread, with 32 percent citing unfavorable references to the trade policy in early August, according to the report, following 35 percent in July.
    This references the University of Michigan report which is different from the Conference Board's consumer sentiment survey.

    This report may be a blip or it may be the first indication that the expected results of current US fiscal and its inherent stupidity are happening.

    Here is what is happening as expected (pay attention Gilligan...maybe you can learn something for once in your life). When you pump a ton of cash into a economic system that is already running at or near capacity, the inevitable result is inflation. Republicans in the House and Senate did this en mass thru the utter stupidity of their tax cuts combined with massive spending increases.

    Trump made this worse with his idiotic tariffs. (He still doesn't understand that OUR industries and OUR consumers are the ones who pay the damn tariffs.)

    Rising prices dampens consumer confidence which translates to slower demand which translates to slower economic growth.

    Trump and Congressional Republicans did exactly the wrong things. You don't lower taxes in an expansion, you raise them to prepare for the next recession. You don't raise govt spending in an expansion you reduce it to prepare for the next recession. That is the whole point of fiscal policy and is as basic as left-right-left or right-left-right if you plan on getting anywhere by walking.

    But our President doesn't understand this and Congressional Republicans had donors to repay....since both had the likes of Fox, Redstate and Ace of Spades to provide propaganda coverage to the uneducated...so we got all the wrong policy prescriptions for the given economic scenario.

    Hopefully, this is a blip...but the forecasts are for GDP to slow dramatically over the next 12-18 months from the Q2 sugar high.

  2. #2
    Just a blip.


    Sorry, sweetie.
    "Dark humor is like food. Not everyone gets it." - J. Stalin

  3. #3
    My god!!
    Your lack of Economics absolutely astonishes me, Brony.
    Your lack of basic common knowledge is quite amazing as well, but the stupid REALLY comes out when you try & discuss economics

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