I don't know the law regarding cutting government spending by executive order. But if Musk gets anywhere near the 2 trillion in spending cuts he claims is possible there will definitely be a recession. He cut 75% of the Twitter workforce. Taking away the punch bowl at the party is painful, but necessary.
Let me be clear. I have advocated for fiscal responsibility for decades, starting with the military.
But that kind of shock would cause a recession in my view, but perhaps good in the long run.
Thanks very much with an excellent topic for the trading forum, joj! We both agree on fiscal responsibility and a probable recession now is better than a likely depression later.
Dangerous expert: U.S debt crisis
https://www.marketforum.com/forum/topic/107896/
just to be accurate I believe it was a joint announcement with Musk and Vivek both involved. Also pretty excited to maybe have a guy who grossly mistreated from our corrupt doj possibly being the new guy at the corrupt fbi
Lots of great people being nominated but sad to lose strong conservatives from congress and have to worry about who might replace them.
Stefanik another great pick for the corrupt UN
Nice to have good agreement in a thread on something so important to our country’s future.
Allow me to upset that for ya...
Tariffs are not only inflationary, but a trade war will lead to economic contraction.
Mass deportations will be enormously disruptive to the economy. Not only millions of consumers/producers being deported (we need the opposite) but also raising prices of food given the increased labor cost for picking fruit and manning meatpacking plants.
Don't get me started on some of the clowns he picked. Fox News celebs but zero qualifications.
I am curious how you propose we compete against China? Two countries build cars. One country pays their employees a couple dollars a day. The other $50-$60 an hour. Do we continue to lower our standard of living or hope China raises theirs? Without tariffs, we lose
right joj we surley want more insiders especially in places like the defense depart. Maybe they can kill more of young men and women and further embarrass America all over the world, Maybe walk into more conferences on trans rights in the military wearing 2 masks and a shield.....yes that guy who forgot to inform anyone he was in the hospital and left 13 brave Americans dead over seas with his incompetence. America has sent a message and a 20 year veteran who runs one of the most efficient vet aids groups in the world would be respected and more important qualified to lead.
For you to insinuate he was only a fox news celeb is not true and totally uncalled for. News for you is there are going to be several outsider non establishment types leading several departments and its about time.
Be prepared for patel at the fbi, gabber for dni, and this will cause you vapors, gates for ag. New very qualified non dei nominations.....how damn refreshing to get away from the craziness of the last 4 years.
Well, at least everybody seems to agree that the massive debt is a problem.
Reply to Jim:
Good question. Some tariffs are sensible. When we are talking about a vital industry to the US and foreign countries are dumping their products to depress prices, for example. Cars might be worthy of measured tariffs. But across the board tariffs like Trump is talking about is clueless. Do we need manufacturing of underwear or alarm clocks in the US? Certainly not. I like the low inflation that trade with China has afforded me. Also, consider the consequences of retaliatory tariffs. To take it to an absurd level, imagine if each of us had to produce ALL that we consume. How terribly inefficient. Free trade expands the economic pie.
As for assembly line workers making 50-60 $ per hour, those days are gone. But automation accounts for 85% of manufacturing job losses. Outsourcing accounts for just 15%..
Sorry Mcfarm. I generally don't read your posts due to how far from reality I have found them to be. So. I have no response.
well Joj that is a shame. You most likely know not a thing about how to consider our country and its legal citizens with love and care, That mostly what I post about. Sorry about that.