Rolling US Economy Into The Shitbin Thread

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personally I'm applying for a civil servant position ASAP

El Tomboto, Thursday, 18 October 2007 23:45 (ten years ago) Permalink

Just FYI, during the 1930s depression, many civil servants were paid with vouchers rather than cash, because local governments were unable to collect property taxes and their receipts fell into the shitbin.

Aimless, Friday, 19 October 2007 00:12 (ten years ago) Permalink

Economy's doing poorly enough as it stands, why do we deliberately want to roll it into the shitbin?

Abbott, Friday, 19 October 2007 00:14 (ten years ago) Permalink

Because that way Hillary can rescue us all.

Dandy Don Weiner, Friday, 19 October 2007 00:17 (ten years ago) Permalink

lol property taxes

El Tomboto, Friday, 19 October 2007 00:18 (ten years ago) Permalink

shitbin's a great word, BTW.

Dandy Don Weiner, Friday, 19 October 2007 00:20 (ten years ago) Permalink

you been loving my thread titles lately

El Tomboto, Friday, 19 October 2007 00:26 (ten years ago) Permalink

i came to this country some time ago with little more than a crippling debt burden in GB Pounds and the shirt on my back. i used to have to send back $1,200 each month to pay off my UK debt, and now I'm sending back over $1,400 to cover the same amount of debt repayment. that's two and a half thousand dollars disappearing from my tiny disposable income every year, for no explicable reason. i *heart* the decline of the US economy.

Roberto Spiralli, Friday, 19 October 2007 00:27 (ten years ago) Permalink

anyway why start this thread now because the bit where ritholtz points out that domino's pizza can't print new menus fast enough to keep up with inflation was pretty fucking amazing

I wish rasheed wallace was still around to show us the latest and greatest exploding bubble blogs

El Tomboto, Friday, 19 October 2007 00:28 (ten years ago) Permalink

wow Roberto that was some shitty timing, that sucks

El Tomboto, Friday, 19 October 2007 00:29 (ten years ago) Permalink

This was in the paper today:

Mortgage defaults

Hit an annual rate of 1.5 million in September. That compares with 900,000 last year from fewer than 800,000 in 2005. At the current rate, more than one million Americans will lose their homes to foreclosure, making this the worst housing recession since the Second World War.

Housing starts

Sank to a 14-year low of 1.19 million in September. Starts are a vital economic engine, creating jobs and growth as people stuff their homes with sofas and TVs. Starts peaked at 2.3 million in early 2006, and the decline will be a drag on the rest of the economy until the slide stops.

Mortgages

A quarter of the roughly 50 million U.S. home mortgages are subprime. That's seven times the number of high-risk mortgages there were in 2001. That means that many more marginal homeowners have mortgages, making it far more likely they'll wind up in default.

House prices

Fell 3.2 per cent in the second quarter. Prices are falling faster and more broadly than they have in decades, according to the closely watched Case-Shiller index.

http://www.theglobeandmail.com/servlet/story/LAC.20071018.IBUSECONOMY18/TPStory/Business

everything, Friday, 19 October 2007 00:29 (ten years ago) Permalink

In regard to inflation, in the USA during the past three years inflation has been soaring - but almost entirely in the housing sector. The fact that people are encouraged to see their houses as investments rather than as expenses doesn't mean that skyrocketing housing costs weren't inflationary. They were.

As the bubble market bursts, I predict a recession with an extra added bonus of inflation running close to 10% - before the end of 2008. As it has for the past 30 years, the official CPI will understate the real inflation rate. It was rigged under Reagan so that government entitlement programs indexed to the CPI would not increase at the true pace of inflation.

If Bush continues to shovel shit on the dollar right up to the end of his term in January 2009, the inflation rate could hit 15%-20% by 2010.

Aimless, Friday, 19 October 2007 00:55 (ten years ago) Permalink

There are some good economics articles put up here as well:
http://www.VoxEU.org

stet, Friday, 19 October 2007 01:02 (ten years ago) Permalink

Which shit on the dollar are you referring to?

Dandy Don Weiner, Friday, 19 October 2007 01:02 (ten years ago) Permalink

As the bubble market bursts, I predict a recession with an extra added bonus of inflation running close to 10% - before the end of 2008.

lol

aaaaaaaaaaaaaaaaaaaaaaaaaa, Friday, 19 October 2007 06:11 (ten years ago) Permalink

this is why i live in canada!

J0rdan S., Friday, 19 October 2007 06:13 (ten years ago) Permalink

oh wait.

J0rdan S., Friday, 19 October 2007 06:13 (ten years ago) Permalink

Guys, this is a good time stay in academia right?

Catsupppppppppppppp dude 茄蕃, Friday, 19 October 2007 11:51 (ten years ago) Permalink

It's a good time to learn a European language.

Nubbelverbrennung, Friday, 19 October 2007 13:33 (ten years ago) Permalink

Prime shit examples:

When Bush was elected in 2000, the federal budget was in surplus and the national debt was being paid down. Had this state of affairs continued, as projected, it would have led both to lower interest rates and a strong dollar, together. Instead, Bush submitted a series of enormous tax cuts to the Republican-controlled Congress and lobbied them through. Immediately, the CBO's projected budget surpluses turned to projected deficits for the next decade.

Bush also initiated a war of choice, not necessity, in Iraq. This war has already cost well over $700 billion. Yet, Bush insisted on making his tax cuts permanent. Overall, the national debt has increased under Bush by about $2 trillion in seven years. This represents a difference of about $3 trillion of debt from what was projected at the start of his first term.

Because, due to Bush's tax cuts and other policies, the Federal government was in a far weaker position to stimulate the economy when the recession started after 9/11, almost the entire stimulus was delivered via lower interest rates. Because these rate cuts were artificial, and not based on a stronger dollar, this stimulus not only inflated the current housing bubble, but it also undercut the dollar even more than the ballooning national debt did.

Now the dollar is at an all-time low against the euro and the canadian dollar. However, the incomes of the top 10% of American households have increased at a good clip, while the lower 50% of households have seen a decrease in income after inflation. This is largely thanks to Bush's shitty policies. I expect more of the same mismanagement until he is gone.

Aimless, Saturday, 20 October 2007 18:36 (ten years ago) Permalink

I agree with everything you've just said. You're predictions still seem a tad extreme on the downside though, if I may so.

aaaaaaaaaaaaaaaaaaaaaaaaaa, Saturday, 20 October 2007 18:50 (ten years ago) Permalink

i wonder if income inequality will ever arrive as a political issue in this country. americans tend to not begrudge the rich - so it'll have to be more of a "for everyone's good" type of angle. no?

jhøshea, Saturday, 20 October 2007 18:54 (ten years ago) Permalink

I remember the 1970s and early 80s quite well. Back then people couldn't belileve it, either. Bush has done a bangup job of recreating many of the same policy errors under Johnson and Nixon that led to raging stagflation back then, except the underlying economy is now weaker than it was in the 1970s and the oil shocks we are likely to get are not political, as when OPEC was formed, but structural.

Oil will exceed $100/barrel some time this winter. The ever-weakening dollar will lead to smaller profit margins and rising retail prices on all imported goods (which means almost everything we buy in the USA). Transport costs will rise with pil prices. Stock prices will erode along with profits. With so many savings tied up in stocks and home equity, consumer spending will be crunched, and personal debt and bancruptcies will rise like a tide. Businesses will retrench and unemployment will rise. No end in sight.

I hope I am wrong.

Aimless, Saturday, 20 October 2007 19:07 (ten years ago) Permalink

Anyone want to join my modern-day James Gang? We shall ride across the lower Midwest, robbing and pillaging.

milo z, Saturday, 20 October 2007 19:09 (ten years ago) Permalink

sounds fun

jhøshea, Saturday, 20 October 2007 19:13 (ten years ago) Permalink

Sorry, I don't want to relocate. But this scheme sounds ripe for franchising.

Aimless, Saturday, 20 October 2007 19:14 (ten years ago) Permalink

Oil will exceed $100/barrel some time this winter. The ever-weakening dollar will lead to smaller profit margins and rising retail prices on all imported goods (which means almost everything we buy in the USA). Transport costs will rise with pil prices. Stock prices will erode along with profits. With so many savings tied up in stocks and home equity, consumer spending will be crunched, and personal debt and bancruptcies will rise like a tide. Businesses will retrench and unemployment will rise. No end in sight.

I hope I am wrong.

-- Aimless, Saturday, 20 October 2007 19:07 (14 minutes ago) Link

The coming of $100/barrel oil is not Bush's fault. It's yours and mine and everyone else's for using too damned much energy. I agree Bush could and should have done a lot more with policy to encourage energy efficiency, but there's little he could have done to stop oil's eventual rise to that price level.

Hurting 2, Saturday, 20 October 2007 19:26 (ten years ago) Permalink

Part of the pricing of oil represents the weakness of the dollar. This hurts the USA more than it does other countries. US citizens are paid in dollars and the US government collects revenue in dollars, so they are stuck. EU countries can use euros to buy increasingly cheap dollars, so they don't see the same rise in prices as we do. The weakness of the dollar is mainly Bush's fault.

Aimless, Saturday, 20 October 2007 19:31 (ten years ago) Permalink

The US also uses way more oil than other countries.

Hurting 2, Saturday, 20 October 2007 19:33 (ten years ago) Permalink

he could have done to stop oil's eventual rise to that price level.
Not starting a war in Iraq would definitely have helped here.

stet, Saturday, 20 October 2007 19:57 (ten years ago) Permalink

arrgh, if that won't work then
http://calculatedrisk.blogspot.com/2007/10/imf-mortgage-reset-chart.html

El Tomboto, Monday, 22 October 2007 17:47 (ten years ago) Permalink

tombot u r freakin me out

gff, Monday, 22 October 2007 17:50 (ten years ago) Permalink

i hope my small apartment + modest savings plan + job in "information services" is enough to weather the shitstorm, if it comes. i got myself out of credit card debt a few months ago, at least

gff, Monday, 22 October 2007 17:53 (ten years ago) Permalink

well if you can hold down a job and don't have to worry about an ARM reset you should be okay, it's the homeowner with kids and a subprime loan and two cars who ought to be shitting themselves

El Tomboto, Monday, 22 October 2007 17:58 (ten years ago) Permalink

apart from some student loans and binging on credit cards over a few years, i'm kind of debt phobic.

which has actually made me lose out over the past several years, i realize, since i pay for EVERYTHING with a debit/check card... i could have just paid that balance on a credit card with some rewards scheme and has some air miles or something

gff, Monday, 22 October 2007 18:00 (ten years ago) Permalink

rolling gff personal finances into the shitbin thread, ha

gff, Monday, 22 October 2007 18:01 (ten years ago) Permalink

This will give you a boner Tombot

http://nymag.com/guides/money/2007/39952/

Dandy Don Weiner, Wednesday, 31 October 2007 11:30 (ten years ago) Permalink

the economy increased by 3.9% this quarter! bull market forever, baby. economy's better than ever. golden age.

yet me and so many people I know are getting laid off next month. granted we're all in the writing/design field, but urhhhhh. gggg.

burt_stanton, Wednesday, 31 October 2007 14:58 (ten years ago) Permalink

http://nymag.com/guides/money/2007/catastrophist071105_560.jpg
http://nymag.com/guides/money/2007/catastrophist071105_2_560.jpg

^^^ lol

most of that guy's scenario is not really news to regular bigpicture/CR readers I don't think. But #5, the "we don't pay attention" thing, yeah, well, evidently the awareness campaign is underway, but hell if the big players are paying attention.

He also leaves out the approaching demographic catastrophe as millions of inexperienced thirtysomethings and even some late-twenties kids are forced to move into arguably tougher jobs that the boomers have been holding for two decades. Beyond the social security and healthcare costs associated with mass retirement, I don't really know if this generation has the work ethic and definitely not the rolodex to just start filling in and not fuck up royally. too busy updating their linkedin pages.

El Tomboto, Wednesday, 31 October 2007 15:11 (ten years ago) Permalink

can someone explain what "being upside down on your mortgage" means, in plain English?

Tracer Hand, Wednesday, 31 October 2007 16:14 (ten years ago) Permalink

essentially, owing more than your home is worth.

Dandy Don Weiner, Wednesday, 31 October 2007 17:10 (ten years ago) Permalink

also Tombot I'm not going to blame this generation as much as I blame their parents.

Dandy Don Weiner, Wednesday, 31 October 2007 17:11 (ten years ago) Permalink

isn't that the way people buy homes? by paying for the privilege of a loan?

Tracer Hand, Wednesday, 31 October 2007 17:12 (ten years ago) Permalink

When you enter into a contract with a bank for a mortgage, both you and the bank assume that the property value will not plummet. The bank doesn't want you to default any more than you want to default. But if for whatever reason you need to sell your home, and you can't get what you owe on it, then you will owe the difference to the bank. And the bank knows that when that happens, you probably will not have enough assets to cover the difference.

Predatory-type loans (which seems like a nebulous description to me) typically compound the problem because they have higher transaction rates (points, etc.)

Dandy Don Weiner, Wednesday, 31 October 2007 17:17 (ten years ago) Permalink

oh certainly! well played baby boom letting healthcare slide for the 20 years you've owned the electorate

El Tomboto, Wednesday, 31 October 2007 17:18 (ten years ago) Permalink

yeah Tracer it's also called "negative equity"

El Tomboto, Wednesday, 31 October 2007 17:19 (ten years ago) Permalink

Trump's economic policies whims are preposterously erratic and self-contradictory. It's like he's deliberately trying to stampede the herd.

A is for (Aimless), Tuesday, 26 June 2018 17:45 (one month ago) Permalink

Cool that the real economy that was essentially humming along despite this motherfucker is going to start choking on tarrifs

devops mom (silby), Tuesday, 26 June 2018 17:46 (one month ago) Permalink

I guess we get to find out if feigned toughness towards our trade partners is a potent enough pose to offset the damage done by plunging the country into any unnecessary recession.

Mario Meatwagon (Moodles), Tuesday, 26 June 2018 17:50 (one month ago) Permalink

The toughness is feigned, but the tariffs involve real honest-to-god money.

A is for (Aimless), Tuesday, 26 June 2018 18:23 (one month ago) Permalink

Incredibly, Trump's opinions on tariffs are amongst the most unsophisticated opinions that he has.

Joe Gargan (dandydonweiner), Tuesday, 26 June 2018 18:32 (one month ago) Permalink

wait that implies that he has any sophisticated opinions at all

Joe Gargan (dandydonweiner), Tuesday, 26 June 2018 18:32 (one month ago) Permalink

no it doesn't

scopin' VARs (Sufjan Grafton), Tuesday, 26 June 2018 18:35 (one month ago) Permalink

Is there anyone behind these tariffs other than Trump? Wilbur Ross or someone like that? Steve Mnuchin? Who the fuck is even left in his administration anymore?

Fedora Dostoyevsky (man alive), Tuesday, 26 June 2018 20:18 (one month ago) Permalink

I mean is this literally just Trump's own harebrained scheme?

Fedora Dostoyevsky (man alive), Tuesday, 26 June 2018 20:18 (one month ago) Permalink

I'm sure someone who knows what a percentage is is helping him pick numbers

devops mom (silby), Tuesday, 26 June 2018 20:22 (one month ago) Permalink

Trump makes 'decisions' the way a hungry stoner shops for groceries. Except millions of people pay for it when he decides that buying a case of Cadbury eggs is an amazing way to demolish his paycheck.

A Frankenstein + A Dracula + A Mummy That's Been Werewolfed (Old Lunch), Tuesday, 26 June 2018 21:43 (one month ago) Permalink

63,000 open trucking jobs

devops mom (silby), Thursday, 28 June 2018 18:18 (one month ago) Permalink

^ not exactly a "shitbin" indicator but it's kind of wild.

devops mom (silby), Thursday, 28 June 2018 18:19 (one month ago) Permalink

handbasket seats vacant one stop before hell

aloha darkness my old friend (katherine), Thursday, 28 June 2018 18:20 (one month ago) Permalink

idg that yield curve post, yield curve inverting is a leading indicator it's only flattened now

flopson, Thursday, 28 June 2018 18:23 (one month ago) Permalink

I think the concern is that the teeter might totter.

Josh in Chicago, Thursday, 28 June 2018 18:27 (one month ago) Permalink

i don't think flattening is a leading indicator tho

flopson, Thursday, 28 June 2018 18:30 (one month ago) Permalink

What kind of an indicator is the 87,000+ people on LinkedIn referring to themselves as "thought leaders"?

Joe Gargan (dandydonweiner), Thursday, 28 June 2018 20:29 (one month ago) Permalink

meme infection indicator?

A is for (Aimless), Thursday, 28 June 2018 20:31 (one month ago) Permalink

I miss the days of the beginning of this shitbin thread where I had some semblance of an idea on how the economy worked. Now its all just endless sock market gains.

officer sonny bonds, lytton pd (mayor jingleberries), Thursday, 28 June 2018 21:33 (one month ago) Permalink

The actual economy seems to anecdotally be fairly strong depending on where you are, unemployment is low, people are spending money on stuff, more of them have health insurance, the minimum wage is higher in multiple cities and states. Tech startups are the preferred speculative bubble of the coke-fueled investor class right now, and that generates gentrification and real estate speculation as an externality, but man maybe like…stock market gains are tracking with the real economy??

devops mom (silby), Thursday, 28 June 2018 21:44 (one month ago) Permalink

NB: I don’t know a damn thing

devops mom (silby), Thursday, 28 June 2018 21:44 (one month ago) Permalink

lol nope

maura, Thursday, 28 June 2018 21:47 (one month ago) Permalink

i mean those gains aren't tracking with the real economy, although a lot of smoke and mirrors are being used to make one think it might be

maura, Thursday, 28 June 2018 21:47 (one month ago) Permalink

I can well believe that

devops mom (silby), Thursday, 28 June 2018 21:50 (one month ago) Permalink

I don't know, my impression is that macro economic indicators - hiring/employment/spending/profits/corporate earnings, etc. - are strong. What's not strong are wages, debt is high, income inequality is terrible and getting worse, health care costs are rising, etc. I suppose the question is how to join those two threads. Toss in a flat market following years of sustained growth and record highs, the general instability of trade/politics and the like, and I think people who know are nervous. And yet, it's unclear what to do with that uncertainty. It's like the entire US economy is holding its breath.

Josh in Chicago, Thursday, 28 June 2018 21:56 (one month ago) Permalink

smoke and mirrors are essential parts of the economy

Hazy Maze Cave (Adam Bruneau), Thursday, 28 June 2018 21:56 (one month ago) Permalink

Shell game for sure.

Josh in Chicago, Thursday, 28 June 2018 21:57 (one month ago) Permalink

smoke and mirrors are essential parts of the economy

― Hazy Maze Cave (Adam Bruneau), Thursday, June 28, 2018 9:56 PM (sixteen minutes ago) Bookmark Flag Post Permalink

hah I feel the same way when people talk about 'waste' in the insurance and heathcare industries. if it was a totally efficient system there'd be hundreds of thousands of layoffs.

officer sonny bonds, lytton pd (mayor jingleberries), Thursday, 28 June 2018 22:14 (one month ago) Permalink

yeah I mean everybody knows most of the white collar workforce doesn't do anything important

devops mom (silby), Thursday, 28 June 2018 22:15 (one month ago) Permalink

Don't tell that to the GOP, they'll try to shrink the size of government.

Josh in Chicago, Thursday, 28 June 2018 22:31 (one month ago) Permalink

ayo Im a paralegal I resemble this remark. well my added value to this place is do things that people who charge $450-$800/hr shouldn't be doing.

yeah I mean everybody knows most of the white collar workforce doesn't do anything important

― devops mom (silby), Thursday, June 28, 2018 10:15 PM (forty-seven minutes ago) Bookmark Flag Post Permalink

officer sonny bonds, lytton pd (mayor jingleberries), Thursday, 28 June 2018 23:04 (one month ago) Permalink

The big tax cut bill the R's rammed through now allows megacorporations to repatriate nearly a trillion in profits currently parked overseas at heavily discounted tax rates. The supposed idea was they'd invest it in US expansion and employees, but the open secret is that they'd be more likely to use it for massive stock buy-backs to inflate their stock prices -- and possibly absorb a lot of executives' stock options getting cashed out.

My imagination wonders if, after the big stock buybacks happen at bubble prices, the market will crash and all those corporate profits get turned into dust and ashes.

A is for (Aimless), Thursday, 28 June 2018 23:45 (one month ago) Permalink

If you look at the market for the time pre 09/2008 until now, yeah smoke and mirrors. Nothing drastically changed with the broader market after the election except that a criminal got elected and people decided to stop caring even more about fundamentals. Oddly enough gold has stayed really wishy washy this year.

Yerac, Friday, 29 June 2018 07:56 (one month ago) Permalink

I am dying for the market to crash. Sorry. But it's super inflated right now and it's not healthy for anyone longterm.

Yerac, Friday, 29 June 2018 07:57 (one month ago) Permalink

The current unemployment rate is 3.8! TRUST ME, we’re not having a recession any time soon. And we should all be very very thankful for that.

Mr. Snrub, Friday, 29 June 2018 09:51 (one month ago) Permalink

I’m certainly making no significant investments anytime soon.

Jeff, Friday, 29 June 2018 10:04 (one month ago) Permalink

From a strictly cut and dry investment perspective, market "corrections" are actually good for the portfolio if - and this is important - you're relatively young, or at least nowhere near retirement age. The market will (historically) eventually rise back up, and funds/401Ks and the like in particular will have snagged a whole bunch of stuff at fire sale (or, you know, recession) prices. The people who really get screwed are the ones the need their money *now*, people about to cash out or who have cash flow issues and suddenly learn their investments are worth half as much as they were. So yeah, obviously it's more important to have enough cash/liquidity to carry you through hard times, to pay the rent/bills/food. That's the first luxury. But on average investing long-term is still the best tried and true method of generating wealth, smoke and mirrors and all. Isn't that what they call the Rule of 72?

Josh in Chicago, Friday, 29 June 2018 12:38 (one month ago) Permalink

I mean it goes without saying that *if* you are worried about your 401k or IRA right now at these high levels you can always redistribute your 401k into something less equity heavy for the near term and if you have an IRA at a regular brokerage you could always start moving to cash. But if you don't care or need the money anytime soon, hey let it ride. But yeah a lot in in the market is expensive. I don't know how individual buyers feel safe buying up there. But besides the overnight crash when Trump got elected there really hasn't been any real pull back besides one off days. It's stupid. Nothing matters.

Yerac, Friday, 29 June 2018 13:59 (one month ago) Permalink

Yes, I mean I wouldn’t touch my current investments or stop normal contributions. Just nothing new and significant.

Jeff, Friday, 29 June 2018 13:59 (one month ago) Permalink

"what are these mysterious luxuries you call 'investments'" - the entire millennial generation

aloha darkness my old friend (katherine), Friday, 29 June 2018 14:02 (one month ago) Permalink

i would look at the quality of employment rolled into that rate mr. shrub before making any grand proclamations (and yes, i thought this throughout the obama years as well)

maura, Friday, 29 June 2018 14:53 (one month ago) Permalink

Flat market is just as worrying, sometimes, as downs. It's like being stuck at the top of a rollercoaster. Nobody knows anything.

Josh in Chicago, Friday, 29 June 2018 15:06 (one month ago) Permalink

The market could also just stagnate for years, it's happened before

Fedora Dostoyevsky (man alive), Friday, 29 June 2018 15:13 (one month ago) Permalink

. . . except mr. snrub xp

mookieproof, Friday, 29 June 2018 15:14 (one month ago) Permalink

Why the capitalist class does this is something of a mystery. Don't they love growth? Well, they do, but only under the right circumstances. They present themselves as concerned with growth, productivity, and output above all else, but it turns out they are in reality a lot more concerned with high profits and a politically quiescent working class. A big economic boom is fine, but a tight labor market requiring wage increases that come out of the capitalist share of the corporate surplus — or worse, workers confident that they can get another job organizing union drives — is horrifying to them. Our capitalist overlords think they deserve easy profits and beaten-down workers who will take crappy wages and bad benefits without a peep or protests, and mobilize politically to rig the economy to make that happen.

http://theweek.com/articles/783356/how-capitalist-class-strangling-american-economy

the ignatius rock of ignorance (Dr Morbius), Wednesday, 11 July 2018 20:34 (one month ago) Permalink

Testifying before Congress in 1997, Greenspan attributed the “extraordinary’” and “exceptional” performance of the nineties economy to “a heightened sense of job insecurity” among workers “and, as a consequence, subdued wages.”

https://www.jacobinmag.com/2016/01/federal-reserve-interest-rate-increase-janet-yellen-inflation-unemployment

mookieproof, Wednesday, 11 July 2018 21:19 (one month ago) Permalink

janet-jackson-inflation-unemployment-control

macropuente (map), Wednesday, 11 July 2018 21:34 (one month ago) Permalink

one month passes...

Our Country was built on Tariffs, and Tariffs are now leading us to great new Trade Deals - as opposed to the horrible and unfair Trade Deals that I inherited as your President. Other Countries should not be allowed to come in and steal the wealth of our great U.S.A. No longer!

reggie (qualmsley), Thursday, 16 August 2018 16:00 (one hour ago) Permalink


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