The Trump Administration
- Thread starter Gallipoli
- Start date
Yeah, pardoning one non-violent "criminal" = pardoning 1800 domestic terrorists.
All for sense over cents.
www.cbsnews.com
Elon Musk's DOGE has a new target for cutting federal spending: the U.S. penny
Elon Musk's DOGE is taking aim at the U.S. penny, pointing out that it costs more to manufacture than it's worth.
www.cbsnews.com
so all prices not ending in 5 or 0, will be rounded up -- so much for helping average person afford things -- but what's a penny here or a penny there?All for sense over cents.
Elon Musk's DOGE has a new target for cutting federal spending: the U.S. penny
Elon Musk's DOGE is taking aim at the U.S. penny, pointing out that it costs more to manufacture than it's worth.
Actually - no. There are two main schools of thought regarding the inflation experienced during the Biden administration. One school is the Larry Summers thesis that social spending - direct stimulus payments to citizens during the pandemic - was the main cause of inflation. Well, that becomes an issue because two of the three stimulus payments occurred during the Trump administration. Look it up. Another argument against this school of thought is that inflation was a world-wide issue, even in countries that did not provide their citizens with stimulus payments.
Personally, I believe the other school of thought called "Team Transitory" as espoused by Paul Krugman and others. The economy - being a mixture of spending on goods and services - got out of whack because people cut back heavily on services spending like going out to eat, entertainment, dry cleaning, etc. When consumers had a bunch of "extra" money on hand due to reduced services spending, they stated buying an unprecedented number of goods. This created shortages, shipping rates went up, etc. Krugman argued - during the pandemic and after - that inflation would come back down once the goods versus services spending got back to its normal levels. And it has.
So this is why your comment strikes me as a bit flippant. If you're with Summers and don't acknowledge that Trump also bears responsibility, you're not accurately assigning blame assuming you think inflation is someone's fault. I personally don't blame either Trump or Biden - I blame the pandemic. Krugman acknowledges he thought inflation would abate much sooner than it did, but still believes the main cause was the imbalance between goods and services spending.
Personally, I think the common sense thing to do is read varying viewpoints and reach a conclusion from there. In this case I'm largely with the guy who has a Nobel Prize in economics.
I'm sure Musk has never dirtied his hands by holding a penny. I imagine this will be his tamest recommendation though, does anyone think he cares about anyone but himself and his money?All for sense over cents.
Elon Musk's DOGE has a new target for cutting federal spending: the U.S. penny
Elon Musk's DOGE is taking aim at the U.S. penny, pointing out that it costs more to manufacture than it's worth.
Good post.
I'm going with Larry Summers, former Treasury Secretary and Harvard President. He did not take issue with the Covid stimulus payments. He took issue with the $1.9 trillion 2021 stimulus law, The American Rescue Plan, followed by The Inflation Reduction Act in August 2022. He accurately predicted dumping that much money on the economy after three Covid payments would lead to inflation. As I recall neither bill received a single Republican vote in either chamber. Inflation soared from 1.4% in 2020 to 7% in 2021 and 6.5% in 2022. It remains too high at 2.9% last year.
Inflation was, and remains, a worldwide problem. I don't see how the American Rescue Plan and The Inflation Reduction Act created inflation in European countries and elsewhere throughout the world. I'm going with the Krugman theory.
Our president showing again today why he's a complete and total moron.
He knows more about the economy that the head of the Fed. We won't need lumber, gas or oil from Canada because we have our own! Interest rates will go down because gas prices are down (which they aren't). Coal is the fossil fuel of the future!
Meanwhile, egg and energy prices continue to rise, despite his promise to lower them the first week he was elected. And he still hasn't ended the war in Ukraine, which he pledged to do before even taking office.
He knows more about the economy that the head of the Fed. We won't need lumber, gas or oil from Canada because we have our own! Interest rates will go down because gas prices are down (which they aren't). Coal is the fossil fuel of the future!
Meanwhile, egg and energy prices continue to rise, despite his promise to lower them the first week he was elected. And he still hasn't ended the war in Ukraine, which he pledged to do before even taking office.
When you have been wrong so long, it takes a while to right the ship.
And no, we don't need oil, gas or lumber from Canada. The US has plenty of all. Produce it internally, create jobs, create wealth, isn't that the point? May take a while for market adjustments and infrastructure build out, but it can and should be done.
And no, we don't need oil, gas or lumber from Canada. The US has plenty of all. Produce it internally, create jobs, create wealth, isn't that the point? May take a while for market adjustments and infrastructure build out, but it can and should be done.
If we don't need it, then why are we importing so much of it?
If we don't need it, then why build that pipeline from Alberta the GOP claimed kept would lower gas prices and would end all of our energy problems?
Trump said he would fix these things IMMEDIATELY. Are you saying he's lying, that perhaps things are much more complex than his tiny little mind can wrap itself around?
He's a moron. Every day this becomes more apparent.
I agree. He is a moron. He was elected with a strong victory in the electoral college. He is doing what he was elected to do. Trump will dominate the news cycle for the next 4 years. He will suck up all the air in the room. No amount of anger by you or anyone else will stop it. If you are sick of him now, just wait. Every time he wanted attention, he would say come crackpot thing and the commentators' heads exploded.
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We may have the volume that is needed, but we are not ready to produce it. If Trump cuts it off or enacts high tariffs, prices, especially for lumber, will explode. Now that he has been elected, he has no concern about lowering prices for the American people.
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We don't have to look far to see how supply issues of Canadian lumber affect our economy. Look to the quadrupling of lumber prices in 2022, which have not recovered helping to keep the prices of new homes sky high. Although tariffs could not be blamed for the increase, it emphasizes how dependent our construction industry is on Canadian lumber.
Overall, the supply of wood from Canada and other countries was not enough to lower U.S. prices. Canada, historically the primary source of wood imports to the U.S., increased shipments of wood products to the U.S. during 2020 and 2021. However, imports were slow to arrive due to shipping constraints.
Other factors also limited supply from Canada. Some Canadian provinces’ annual allowable cuts were lowered because of a Mountain Pine Beetle epidemic, which has attacked half the total volume of commercial lodgepole pine since the 1990s. The effects of U.S. tariffs on Canadian softwood lumber are not fully known, but they could have further constrained wood imports during the pandemic.
Overall, the supply of wood from Canada and other countries was not enough to lower U.S. prices. Canada, historically the primary source of wood imports to the U.S., increased shipments of wood products to the U.S. during 2020 and 2021. However, imports were slow to arrive due to shipping constraints.
Other factors also limited supply from Canada. Some Canadian provinces’ annual allowable cuts were lowered because of a Mountain Pine Beetle epidemic, which has attacked half the total volume of commercial lodgepole pine since the 1990s. The effects of U.S. tariffs on Canadian softwood lumber are not fully known, but they could have further constrained wood imports during the pandemic.
At some point soon, Trump simply will expire. He’s old, overweight, unhealthy and miserable. Can’t run from that combination forever.
If you've been to the Rocky Mountains in the last 10 years, you've seen what the pine beetles have done to lodgepole pines. Acres of national forests are just devastated.
