Post Covid ecomony

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mickojak
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Re: Post Covid ecomony

Post by mickojak » April 9, 2020, 1:31 pm

CJ,
Thanks for sharing the other side of the argument.

The debt has been racked up by both parties and is owned by the people, no matter what or how it got there.

Problem is, how are the people going to pay it back, and yes it is the people because governments don't earn money.
cjd01 wrote:
April 9, 2020, 1:20 pm
I'd be interested in your or any sensible solution
I'm interested in a solution as well, because I certainly don't see an easy one.

All, I know is that the current POTUS does mean well and is doing his best to resurrect the country.
Love him or hate him, he won the election, so there is no other choice but let him try.

And complaining about it, won't help anyone



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Re: Post Covid ecomony

Post by jackspratt » April 9, 2020, 1:35 pm

cjd there is nothing wrong with having different opinions, if both are well founded, and can survive scrutiny.

My response to mickojak was to hopefully highlight his apparent mistaken understanding about the US debt post-Obama.

The larger debate about who has done what, and when, and by how much, has been thrashed to death already on this forum - in the appropriate US Politics threads. I don't intend to re-heat that massaman curry.

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Re: Post Covid ecomony

Post by mickojak » April 9, 2020, 1:43 pm

jackspratt wrote:
April 9, 2020, 1:35 pm
My response to mickojak was to hopefully highlight his apparent mistaken understanding about the US debt post-Obama
Thanks Jack,
Not a misunderstanding, a typo, Billion instead of Trillion.

CJ covered the rest from there

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Re: Post Covid ecomony

Post by jackspratt » April 9, 2020, 1:54 pm

It wasn't just the typo, mick.

It was also the small matter of a $3 trillion increase.
During the 2016 presidential campaign, Republican candidate Donald Trump promised he would eliminate the nation’s debt in eight years. Instead, his budgets would add $8.3 trillion during that time.

It would increase the U.S. debt to $28.5 trillion at the end of eight years, according to Trump's budget estimates.

https://www.thebalance.com/trump-plans- ... bt-4114401

This is pre-COVID, and without the huge negative impact of the GFC.

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Re: Post Covid ecomony

Post by Whistler » April 9, 2020, 1:57 pm

Kenr6583 wrote:
April 9, 2020, 11:13 am
mickojak wrote:
April 9, 2020, 11:11 am
Trumps cut for business is now looking like a complete disaster with revenue from the downturn and these tax cuts will put the US economy on a disastrous path.

So, it wasn't on a disastrous path before Trump?

Stop playing with your D#cK
No it wasn't.
Obama inhertied the GFC, Trump inherited an economy in full recovery, you can see two obvious things on this chart, one, Obana really driving the deficit down and two, Trump really drive the deficit up.

https://www.usgovernmentspending.com/re ... .13_984.16
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Re: Post Covid ecomony

Post by Whistler » April 9, 2020, 1:57 pm

Kenr6583 wrote:
April 9, 2020, 11:13 am
mickojak wrote:
April 9, 2020, 11:11 am
Trumps cut for business is now looking like a complete disaster with revenue from the downturn and these tax cuts will put the US economy on a disastrous path.

So, it wasn't on a disastrous path before Trump?

Stop playing with your D#cK
No it wasn't.
Obama inhertied the GFC, Trump inherited an economy in full recovery, you can see two obvious things on this chart, one, Obana really driving the deficit down and two, Trump really driving the deficit up.

https://www.usgovernmentspending.com/re ... .13_984.16
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Re: Post Covid ecomony

Post by mickojak » April 9, 2020, 2:10 pm

Whistler wrote:
April 9, 2020, 1:57 pm
Obana really driving the deficit down and two, Trump really drive the deficit up
Not 100% correct.
Obama did drive it down during most if his presidency, but the last year her was in power, 2016, the curve changed to up and the deficit increased about 150 billion, (just by looking at that chart), the year before Donald took over.
And, nobody can change momentum fast, even if policy changes are made immediately, it takes a long time for a country's economy to turn around, hence at least one more year of increased deficit and maybe two.

To be fair, I think the Don needs a bit more time on his side to be judged,
Then the Corona Virus hit.

Now, it would be unfair of anyone to predict the future from here or say someone might do a better job than someone else, because the world is in uncharted waters.

What will be, will be.
We've all just got to hang on for the ride and hope we survive.

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Re: Post Covid ecomony

Post by Whistler » April 9, 2020, 2:48 pm

cutting corporate tax for his rich mates was totally irresponsible given the state of the US economy. Trickle down theory from Reagan and Thatcher days has never worked, it makes the rich richer and the poor poorer.
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Re: Post Covid ecomony

Post by mickojak » April 9, 2020, 3:09 pm

Whistler wrote:
April 9, 2020, 2:48 pm
cutting corporate tax for his rich mates was totally irresponsible given the state of the US economy
In your thinking, that may be correct, but as you said earlier today, that you were in the Labor party and they would never do that, so neither would you.
We need to wait until after his presidency to judge what has worked and what hasn't.

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Re: Post Covid ecomony

Post by pipoz4444 » April 10, 2020, 12:39 am

pipoz4444 wrote:
April 3, 2020, 1:36 pm
WHO vs FIFA is there any difference

Yes and why is the WHO Director General Dr Tedros toeing China's line and why is he praising China for there response amid declaring public health emergency.

Just listen to the second video where where he praises the Chinese Government for protecting their own people and the "People of the World :confused: :confused: :confused: =;

I would like to see where the last two cheque's that were deposited into his (Dr. Tedros) retirement fund, came from. :-k :-k


https://www.youtube.com/watch?v=O1NGzmDVWxA

https://www.youtube.com/watch?v=1sRxfbzI19k
The guy is "Dirty" and on the take from China :-k

Two days prior to his meeting in Geneva, and the vote to declare an emergency, which was BLOCKED, Tedros met with Xi Jinping :-k :-k It must have been when he picked up his bag of cash :-k :-k

https://www.youtube.com/watch?v=toY-NjUN9CU

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Re: Post Covid ecomony

Post by pipoz4444 » April 10, 2020, 12:35 pm

pipoz4444 wrote:
April 10, 2020, 12:39 am
pipoz4444 wrote:
April 3, 2020, 1:36 pm
WHO vs FIFA is there any difference

Yes and why is the WHO Director General Dr Tedros toeing China's line and why is he praising China for there response amid declaring public health emergency.

Just listen to the second video where where he praises the Chinese Government for protecting their own people and the "People of the World :confused: :confused: :confused: =;

I would like to see where the last two cheque's that were deposited into his (Dr. Tedros) retirement fund, came from. :-k :-k


https://www.youtube.com/watch?v=O1NGzmDVWxA

https://www.youtube.com/watch?v=1sRxfbzI19k
The guy is "Dirty" and on the take from China :-k

Two days prior to his meeting in Geneva, and the vote to declare an emergency, which was BLOCKED, Tedros met with Xi Jinping :-k :-k It must have been when he picked up his bag of cash :-k :-k

https://www.youtube.com/watch?v=toY-NjUN9CU

pipoz4444

And after being told on December 31 by Taiwan that they had enough evidence of Human to Human Transmittal, he said and did this

Happy to see that the USA have said they will now not fund WHO, until Tedros is gone. \:D/ \:D/ =D> =D> His Days are finally numbered =;

Although his next job will be as China's spokesperson :-k

https://www.youtube.com/watch?v=1agXN8DDAv8

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Re: Post Covid ecomony

Post by saint » April 10, 2020, 12:55 pm

Remember the days the WHO and UN had some balls and actually stood for something , besides money .
Honestly the worlds going to ---- in a hand cart .
Its going to hit the fan after this lot is over . No funding for the WHO or UN , the E U to split or collapse .
I see lots of things happening in the next 5 to ten years .

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Re: Post Covid ecomony

Post by Giggle » April 10, 2020, 1:04 pm

Remember the days the WHO and UN had some balls and actually stood for something
No, I don't remember those days. Not in my lifetime. Parasitic, mosquito NGOs have always been irrelevant.
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Re: Post Covid ecomony

Post by jackspratt » April 10, 2020, 1:26 pm

pipoz4444 wrote:
April 10, 2020, 12:35 pm

Happy to see that the USA have said they will now not fund WHO, until Tedros is gone.
Link/source ?

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Re: Post Covid ecomony

Post by pipoz4444 » April 10, 2020, 1:29 pm

saint wrote:
April 10, 2020, 12:55 pm
Remember the days the WHO and UN had some balls and actually stood for something , besides money .
Honestly the worlds going to **** in a hand cart .
Its going to hit the fan after this lot is over . No funding for the WHO or UN , the E U to split or collapse .
I see lots of things happening in the next 5 to ten years .
I tend to agree. Especially in the hard economic times coming after this event, there will not be much funding available from the hard hit Countries for all these Bureaucracies and Global Organizations.

I would say that the good times of Countries handing out their money in the form of funding, donations to poorer countries and the like are over, given many countries will need to somehow support their own in country industries and economies to recover and then also pay off their Covid 19 debt. Just can't see the Countries having much surplus cash to hand out to others outside their Borders. :-k :-k

It will also affect the Globalization of Trade to date. Countries will no be able to afford to run up Trade Debt/Imbalances. This may well be a good thing for the World as a who too correct. :-k :-k

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Last edited by pipoz4444 on April 10, 2020, 1:31 pm, edited 1 time in total.
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Re: Post Covid ecomony

Post by tamada » April 10, 2020, 1:31 pm

Which foreign nations hold most of the US debt...
us debt.jpg
China power!!!
The Chinese government or Chinese investors likely own even more U.S. debt purchased through entities in other countries such as Hong Kong, Luxembourg or the Cayman Islands, all of which are havens for tax shelters.

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Re: Post Covid ecomony

Post by pipoz4444 » April 10, 2020, 1:35 pm

tamada wrote:
April 10, 2020, 1:31 pm
Who holds most of the US debt...

us debt.jpg
It is also one of the reasons why China needs the USD to stay strong. If the USD was to weaken or ever collapse, then China's Debt Holding in USD is worth a lot less? Its a delicate balancing act if you hold a lot of Debt in times when few can afford to pay it back :-k :-k :-k unless of course...........................

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Re: Post Covid ecomony

Post by Giggle » April 10, 2020, 2:02 pm

Americans, by far, hold the most US debt. You guys new at this economics stuff?
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Re: Post Covid ecomony

Post by pipoz4444 » April 10, 2020, 8:33 pm

jackspratt wrote:
April 10, 2020, 1:26 pm
pipoz4444 wrote:
April 10, 2020, 12:35 pm

Happy to see that the USA have said they will now not fund WHO, until Tedros is gone.
Link/source ?
A little bit of research of your own JS and you will find easily enough [-X [-X

Just type in Lindsey Graham, Chairman of the Appropriations Subcommittee on on State, Foreign Operations, and Related Programs, and listen to what he says in his last video postings over the last 3 days

1.Quote: There will not be any money for the World Health Organization in the next appropriations bill, says South Carolina Sen. Lindsey Graham, chairman of the Senate Judiciary Committee.

2. Quote/Extract: I’m not going to support funding the WHO under its current leadership," Graham said. "They’ve been deceptive, they’ve been slow, and they’ve been Chinese apologists. I don’t think they’re a good investment under the current leadership for the United States, and until they change their behavior and get new leadership, I think it’s in America’s best interest to withhold funding because they have failed miserably when it comes to the coronavirus."

Reasonably blunt and unambiguous, if you ask me :-k :-k

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Re: Post Covid ecomony

Post by jackspratt » April 10, 2020, 8:53 pm

Funnily enough, pipo, I did some research before asking you.

In fact, I googled your own words ie "that the USA have said they will now not fund WHO, until Tedros is gone.", and nothing came up. Have a look yourself if you wish.

Armed with your helpful update, it seems that Dr Ghebreyesus is probably safe until late this year, by which time I am sure we all hope the CV-19 thing has calmed right down.

And as bonus, Trump and Graham will have been sent on their miserable ways by their respective electorates. =D>

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