A strong economy makes everything better/easier. Trump’s long game is looking smarter by the minute.https://twitter.com/Viatcheslavsos3/status/1060889825165893632 …
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Replying to @ScottAdamsSays
Says the cartoonist whose children and his children’s children will still be paying for the enormous deficit into which Trump and has administration have flung us.
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Replying to @Grady_Booch @ScottAdamsSays
Obama spent more than every president in history combined.
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Replying to @abstractjwl @ScottAdamsSays
I have no idea what universe of alternative facts you live in. Obama entered office under the weight of a crushing economic downturn from the previous Republican president. Yes, he funded a stimulus, but ended his eight years with a strong economy, with a debt below 888 billion.
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Replying to @Grady_Booch @abstractjwl
I also give Obama credit for steering the economy off the cliff and onto solid ground. We’re now at such a good place we can increase risk to increase potential gains (trade wars and deficit for example).
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Replying to @ScottAdamsSays @abstractjwl
On this we find common ground: we entered the Trump administration from a position of solid financial strength. It remains to be seen if the trade war into which Donald has thrown the first volley will be a net gain or a net loss. I am guarded. But I will remain hopeful.
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Replying to @Grady_Booch @abstractjwl
But I think you agree that when the economy is strong, and interest rates are low, and total debt is low by historical (percentage) standards, you increase your leverage and increase your trade risk. It's standard risk management.
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Replying to @ScottAdamsSays @abstractjwl
Recognizing that neither you nor I are economists - which, actually, is a compliment! - I concur. But at the same time, would you agree that it's unusual to radically cut taxes for the highest income participants at a time the economy is strong?
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Replying to @Grady_Booch @abstractjwl
I've got a degree in economics and an MBA from Berkeley. "Unusual" isn't a useful standard. You have to cut taxes on people who pay the most because there isn't enough federal tax-paying in the lower two-thirds to be a stimulus. Even poor Republicans agree on that.
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Replying to @ScottAdamsSays @abstractjwl
I did not know that you had such a background; thank you for correcting me! In principle I accept what you say, but my question is one of context: in an already strong economy, what is there to stimulate further? When times are good, I increase my savings for the lean times.
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It's always good to go from 3% GDP to 4%. And it's generally good to load up on debt when interest rates are low (now) and to pay it down when interest rates are higher (as in Bill Clinton's day).
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Replying to @ScottAdamsSays @abstractjwl
Time will tell. It remains to be seen if our GDP will increase to that level.
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But I’d add, that while GDP is a time-honored economic measure, it does not necessarily translate into quality of life. Yes, a rising tide lifts all boats. Except for those tied in such a manner that they drown. Not a perfect metaphor, but just saying there is human cost.
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