Economy

JJ Husker said:
Are you trying to say non-ACA plans have not also followed roughly the same path of increases?
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No.  The point is extremely clear.   The ACA passage caused ALL (I put it in caps so you will see) healthcare plans to increase premiums and deductibles at a greater rate year over year than what was happening prior to ACA passage.   And in fact, Obama tried to tell us that those costs would actually go down vs rise faster than the historical average 

 
Archy1221 said:
No.  The point is extremely clear.   The ACA passage caused ALL (I put it in caps so you will see) healthcare plans to increase premiums and deductibles at a greater rate year over year than what was happening prior to ACA passage.   And in fact, Obama tried to tell us that those costs would actually go down vs rise faster than the historical average 
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Oh, okay. It’s what I originally thought then. You have no real understanding of which you speak and it was, once again, a waste of time for anybody who entertained your thoughts. Gotcha  :thumbs

 
If the GOP had any smarts and wanted to try to avoid the coming election slaughter that they will face in 2026 - they would start impeachment proceedings now.  But we all know they don't have buyer's regret.  They are a part of the problem - every bit as much as the fool they elected.   There needs to be a complete cleaning of the House and the Senate - then let the impeachment proceed to remove an incompetent fool from office. 

Recession is highly probable now and it is a 'self-caused' recession that is squarely on the shoulders of the incompetent leadership in the house, senate and the WH. 

https://www.marketwatch.com/story/jpmorgan-now-says-theres-a-60-chance-of-a-recession-after-tariff-hikes-a130b3e8

Jamie Dimon finally has his hurricane. JPMorgan’s economics team has just raised their recession probability to 60% following the aggressive tariff stance announced by U.S. President Donald Trump.

In a note entitled, “there will be blood,” chief economist Bruce Kasman and his team said this year’s 22-percentage tariff increase amounts to the largest tax hike since 1968.

“The effect of this tax hike is likely to be magnified — through retaliation, a slide in U.S. business sentiment, and supply chain disruptions. The shock is likely to be only modestly dampened by the flexibility tariff hikes afford for further fiscal policy easing,” they say.

They aren’t make immediate changes to forecasts as the initial implementation — and possible negotation — take hold. “However, we view the full implementation of announced policies as a substantial macroeconomic shock not currently incorporated in our forecasts. We thus emphasize that these policies, if sustained, would likely push the U.S. and possibly global economy into recession this year,” they say.

While any downturn from the current U.S. and global economic expansion is likely to be mild, “recessions are inherently unpredictable. Another important concern is that sustained restrictive trade policies and reduced immigration flows may impose lasting supply costs that will lower U.S. growth over the long run,” they say.
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https://www.marketwatch.com/livecoverage/stock-market-today-dow-s-p-and-nasdaq-set-for-further-losses-after-1-679-point-blue-chip-tumble/card/u-s-stock-market-has-lost-9-6-trillion-in-value-since-inauguration-day-6NL1f3p5I5eUhbOGt2Wy



U.S. stock market has wiped out $9.6 trillion since Inauguration Day



By


Joseph Adinolfi






U.S. stocks have had a rough go of it since President Donald Trump was sworn into office for his second term in January.
Since Jan. 17, the Friday before Inauguration Day, the U.S. stock market has seen $9.6 trillion in value erased, according to data from FactSet and Dow Jones Market Data. Of those losses, $5 trillion has been erased just over the past two days -- the largest two-day loss on record.
Major equity indexes were seeing their losses deepen in early trading on Friday. The Dow was down by more than 1,200 points in recent trading, bringing its losses since the market opened on Thursday to nearly 3,000 points.
The S&P 500 was down by 3.6%, while the Nasdaq Composite was off by 3.8%, leaving it on the cusp of bear-market territory. The Russell 2000 has fallen by another 4.1% since it became the first major U.S. equity index to enter bear-market territory on Thursday.

 
While we're all watching American wealth evaporate, let's consider some reasons why an administration would willfully tread down such a path against the terrified warnings of almost all economists, Peter Navarro notwithstanding.  

Let's toss out the idea that Trump is doing this for the good of American society in the long term and that he is willing to patiently take his political lumps while the tariffs bring us to the "Golden Age" of the Republican utopia.  This notion would require the belief that Trump cares two shïts about anyone other than himself and he has zero patience.  He's a verifiable malignant narcissist.  That's not name calling.  That's fact.  His cavernous soul is devoid of either empathy or patience.

Also toss out the idea that he's a business genius and master negotiator.  How many times did he go bankrupt including casinos?  Remember he sold his minions that the war in Ukraine would end "Day 1".  Right now he's getting punked by his besty.  

His narcissism is the tell to understanding why he's inflicting this much pain on not only the United States but the world at large.  It's pretty simple really.  He gets off on it.  He feels aggrieved.  He's displaying the classic signs of narcissism: holding a grudge, taking revenge, finding pleasure in the suffering of others, and satiating his thirst for power.  He told as much during the campaign.  But his followers thought he was talking about them, not everyone.

The chilling part is that neither he nor his handlers, the architects of Project 2025, are showing any signs that they are the least bit concerned about the calamity they've kicked off.  Normally when faced with a tanking economy an administration would say "oh fück" and try to reverse course.  This regime is in no way displaying any concerns about losing power through the legitimate election process.  If they were, they'd be trying to put their collective finger in the dyke.  

This regime is going to cling to power in anyway possible.  They're following the Orban/Erdogan playbook.  If you think they have any intention of facing the electorate straight up you're underestimating just how deep the rot runs.  

 
Archy1221 said:
This is your go to response when you finally figure out what the discussion is and finally realize you were incorrect.   A tale as old as time 
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Finally we agree. My confusion when conversing with you is usually due to some partisan distortion of cause and effect on your part. Glad we got that cleared up. You get a Kool-Aid man for it this time.

 
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Scarlet said:
This regime is going to cling to power in anyway possible.  They're following the Orban/Erdogan playbook.  If you think they have any intention of facing the electorate straight up you're underestimating just how deep the rot runs.  
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For sure a third term is in the plans   

Good post.

 
Archy1221 said:
Your posted synopsis skips the more important point.  The US opened its economy faster than our peers.   We allowed people to go back to work, much to the chagrin of the folks who wanted to keep the country shut down.   
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We opened faster than some peers. Slower than others. Had more mandates than some peers. Fewer than others. Worked with a maleable definition of Essential Businesses that varied between states and municipalities. Opened schools later than many nations. Watched Sweden refuse to shut down at all, then change its mind when it posted one of the highest death rates per capita in the world. Allowed private businesses to make their own decisions on masking, social distancing, and remote working. 

In fact, America's pandemic recovery is most commonly attributed to the aggressive government stimulus package, early vaccination success, a gradual easing of restrictions, and strong job growth starting in 2021. It was also achieved by acknowledging that temporary inflation would be the trade off for protecting the larger economy.

Other than that, your post blaming people who hate America is great. 

 
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Decked said:
Im seriously thinking about buying a sizeable chunk of stock. Hard day of nothing left to do at work has made it even more compelling. 
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Push it all in.  That's how billionaires are made.  What the worst that can happen?  It's not like we don't have a steady hand at the helm who wants to guide the masses out of the mess that Biden created. 

 
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