Its Time for Democrats to Come To Negotiate
McDonalds Anyone, Trump Buys for Lunch? Dems Refuse over Bad Offer on the Table.
Giving this guy some coverage is questionable; but he is an idiot along the lines of his boss who also says the dumbest things.
KEVIN HASSETT, Trump economic adviser: “You know as soon as it’s resolved, then people get their paychecks, and the government will go back to acting normal, and the economy will go back to the 3 percent growth that President Trump’s policies have delivered.” — interview Tuesday with Fox Business Network.
While it is true the economy probably will get a boost once the shutdown ends, but few independent economists think that boost will be sustained. The economy is facing other headwinds that make it unlikely growth will return to 2018’s pace. This shutdown in my opinion will only make it worse and cause consumers to hold back from spending which is needed to keep the economy going.
You have to wonder what goes on in this guy’s head with the little sh*t -eating grin he has. First damage to the economy (:50) and than an effect on the economy (3:11). Hassett argues Trump made a good and fair offer and Dems should come and discuss what they have already turned down before.
Nope it ain’t Trump boy. That was a debt driven illusion and the shutdown itself is fairly irrelevant to growth as it was already baked in.
Corporate debt expanded greatly since the Fed started its real rate hike cycle in late 2016 and that is why the borrowing boom happened in corporate debt. It also created a 4 trillion dollar balance sheet that gets expensive in 2019 and created overvalued financial products in junk bonds. Boy, where have we heard that before? Corporate spending slows, junk bonds collapse, financial crisis. Maybe not 2008 bad, but bad enough to create years long down cycle. We had this in 99/00 as well when the Fed began its cycle tightening and yry GDP blew up to 5% yry by the 2nd quarter of 2000.
Consumer spending is the tail this cycle. They can spend at this level, it doesn’t matter. As Fixed Investment decays into contraction to pay down debt, consumers will lose jobs and indeed weaken consumer spending, losing more jobs.
I think the last time debt didn’t surge a bunch and GDP grew strongly was 96-97. The productivity boom driven growth from computers.
Hey Kevin – how is the DOW (36000) doing?
“In the fullness of time, this should not have a long run effect on GDP growth,” Hassett said during an interview with FOX Business’ Melissa Francis. “It’s something that is going to be very painful this quarter.”
Seriously? As Keynes quipped – in the long-run we are all dead.
PGL:
Precisely my point. Hassett, Trump, and Republicans are not the ones hurting and suffering in the short run and long run. There is still the pain from being short of cash, wondering where your meal is coming, and suffering from the indignity from and which there is no escape from can not be forgotten. All because of one man and one party’s prejudice and racism. Fortress Amerika will not succeed
OK, I bite.
Nancy: “What do want to end the shutdown Donald?”
Donnie: “I want $5.7G for my Wall.”
Nancy: “You’ve got it. Are you sure that is enough?”
Donnie: “What?”
Nancy: “I want 12M green cards. Do we have a deal?”
Sorry Barnes total misread from you. How does 12 million green cards help “Nancy”? It doesn’t. It doesn’t help Democrats either. Not the smartest post.
Now Trump, sure, he would be all over that.
What Twain said about arguing with insane people, they bring you to their level and beat you with experience.
I do not see Trump losing to their experience.