Discussion: The Economy, Fiscal Cliff, National Debt, And Other Financial Issues IV

And everyone who isn't a millennial will blame them for it. Because taking responsibility for ****ing over the next generation isn't their problem.
 
Wall Street Journal - The South's Economy Is Falling Behind: 'All of a Sudden the Money Stops Flowing'

NATCHEZ, Miss.—The American South spent much of the past century trying to overcome its position as the country’s poorest and least-developed region, with considerable success: By the 2009 recession it had nearly caught up economically with its northern and western neighbors.

That trend has now reversed. Since 2009, the South’s convergence has turned to divergence, as the region recorded the country’s slowest growth in output and wages, the lowest labor-force participation rate and the highest unemployment rate.

Behind the reversal: The policies that drove the region’s catch-up—relatively low taxes and low wages that attracted factories and blue-collar jobs—have proven inadequate in an expanding economy where the forces of globalization favor cities with concentrations of capital and educated workers.
 
The low tax thing has also, surprise, surprise, not been great at helping to create stable environments in terms of general social welfare, education, crime, public works or healthcare. Utilities, roads, general public safety bureaucracies that are a necessity... They don't have an adequate tax base to build or maintain these services.

Texas can boast all it wants about state taxes but it's also a state with issues ranging from severe poverty for far too many to terrible infant mortality rates.

People wonder how meth addiction and opioids can be such a crisis in Red State America? Look no further than no resources available for addiction rehabilitation and the like. Look for people unable to get quality healthcare turning to self medication.

This all combines to create an atmosphere that turns too many towns, cities and other places in these states into less than stellar places to live and work for individuals and it doesn't help these companies to have bad infrastructure to rely upon, bad environments for its workers to live in and a bad sense of public safety.
 
Sounds like a true *******. Instead of addressing the problem, find an alternative way to deal with it that does absolutely nothing to help.
 
While it is a bad sign now it is a good sign that this is going to hurt Trump in 2020 and hopefully give us a sane President.
 
Maybe Trump will undo the tariffs in a bid to stop the recession ...

Nah, he’s not that smart.
 
Maybe Trump will undo the tariffs in a bid to stop the recession ...

Nah, he’s not that smart.

I think the more likely scenario is what he did with the wall. Trump will tweet that theres been "An incredible breakthrough with negotiations!" and that a "Tremendous deal has been reached." And it'll end up being either the exact same trade agreement as before, or a much WORSE agreement, but which he will claim is "way better". Then his sycophants and cultists will all praise him in his brilliance.
 
He could distract from that by signing his NAFTA agreement and rescind the tariffs finally, but Trump isn’t wily or intelligent enough to do it.

He’s just a blunt instrument.
 
"Tariffs are good."

Sixty plus years of supposed closely held beliefs on the Free Market which were forced into every single policy practically under the sun by conservatives with no sense of nuance or limits... And now we know they never really believed in the ideas at all.
 


FYI: The host got the inverted yield curve definition a little mixed up. Also who the hell let Larry on drunk?
 
MarketWatch - U.S. created 501,000 fewer [jobs] in past year than previously reported

The U.S. economy had 501,000 fewer jobs in March 2019 than previously reported, government revisions show, suggesting that hiring was not as strong in the past year as it seemed. Hiring was weaker in retail, restaurants and hotels. The annual revision is much larger than is typically the case. The preliminary revision in 2018, for example, was just 43,000. Every year the Bureau of Labor Statistics updates its figures based on unemployment data that nearly all employers are required to file with the states. The current revision is one of the largest ever.
 

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