Monday, August 26, 2019

Crickets From Island Buc????

This topic contains 51 replies, has 5 voices, and was last updated by  Schianoismyhero Aug. 16, 2019 at 10:44 pm.

Viewing 15 posts - 31 through 45 (of 52 total)
  • Author
    Posts
  • #1202472

    VirgilCaine
    Participant

    Some people spend their lives accomplishing things.

    Others spend their lives commenting on those who accomplish.

    Be grateful for how the market views the Obama economy and the Trump economy.

    It gives you something to write about.

    Hahaha.

    When the facts don’t fit your cocoon

    IB, it appears that there are no circumstance under which you would hold Trump accountable. That means that you cannot “accomplish” basic honesty (or write about it)

    🙂

    0
    -2
    Rating: -2. From 2 votes.
    Please wait...

    #1202498

    Schianoismyhero
    Participant

    The market did really well under Obama. Lots of growth in jobs, and investments. Slower than you’d like in GDP but when you inherit the second worst economy of all-time, what do you expect?

    Trump could very well have created a house of cards. The economy needs to continue to grow to create enough total tax revenue to offset the egregious tax cuts that have bloated the deficit.

    The economy has to recover or we will see more negative corrections in the market.

    (This is why I own safe money like whole-life). If you’re in retirement right now hopefully you have a safe asset so this dip doesn’t hurt too much (despite what IB says, this hurts)

    +1
    -1
    Rating: 0. From 2 votes.
    Please wait...
    #1202627

    ISLAND BUCS
    Participant

     

    Schiano:

    14 trading days ago the S&P hit a historic high.

    Today the S&P is down 5.9% from that high.

    But including dividends the S&P is still up 14.75%. year to date.

    I am sure most people would be very happy to be up 14,75% in about 7.5 months.

    Not feeling pain like you are talking about.

    Maybe the difference is being grateful for what one has,

    rather than moaning because the government does live up to your expectations of

    a free ride.

     

    +2
    0
    Rating: +2. From 2 votes.
    Please wait...

    Remain intimately at the heart of experience.

    • This reply was modified 1 week, 3 days ago by  ISLAND BUCS.
    #1202633

    ISLAND BUCS
    Participant

     

    Regarding deficit, Obama had the following:

    1st year 1.4 Trillion,

    2nd year 1.3 Trillion

    3rd year 1.3 Trillion

    4th year 1.1 Trillion

    So Trump would need to considerably raise the deficit in the next 2 years to equal the total deficit of Obama during his 1st 4 years.

    +2
    0
    Rating: +2. From 2 votes.
    Please wait...

    Remain intimately at the heart of experience.

    #1202648

    VirgilCaine
    Participant

    Regarding deficit, Obama had the following:

    1st year 1.4 Trillion,

    2nd year 1.3 Trillion

    3rd year 1.3 Trillion

    4th year 1.1 Trillion

    So Trump would need to considerably raise the deficit in the next 2 years to equal the total deficit of Obama during his 1st 4 years.

    You actually just did it again. Lol

    Earlier I mentioned that you have made apples to oranges comparison when you think they favor Trump. Here, your comparing Obama’s stimulus spending after The Great Recession caused by a banking crisis …. to Trumps (mostly corporate) tax cut during a growing economy?

    Am I reading that right? If so, is there anyway to honestly defend the comparison?

    0
    -2
    Rating: -2. From 2 votes.
    Please wait...
    #1202653

    Schianoismyhero
    Participant

    Lol IB. I know you’re trying to get a rise out of me with the “handout” comment but I’m unphased. I’ve built my own wealth on my own.

    Regarding the market, if it is a one time dip then I am 100% in agreement with you. Still up, still feeling good. Either way I’m riding it out…

    But the fear is that this is more to come. Guess we will have to stay tuned

    0
    -2
    Rating: -2. From 2 votes.
    Please wait...
    #1202654

    Schianoismyhero
    Participant

    And I know you hate it but Obama did a solid job with the economy. The data suggests the same. Your deficit comparison is intentionally misleading… but you know this

    +1
    -2
    Rating: -1. From 3 votes.
    Please wait...
    #1202656

    VirgilCaine
    Participant

    Your deficit comparison is intentionally misleading… but you know this

    Yep

    0
    -2
    Rating: -2. From 2 votes.
    Please wait...
    #1202677

    ISLAND BUCS
    Participant

    In what way is the Obama deficit misleading.

    How do you explain over 1 Trillion deficit in

    both 2011 and 2012??

    Surely not Banking Crisis.

    JP Morgan earned a record 19.0 Billion in 2011, up about 9.0%

    from  2010.

    +2
    0
    Rating: +2. From 2 votes.
    Please wait...

    Remain intimately at the heart of experience.

    #1202783

    Schianoismyhero
    Participant
    • Stimulus package and recession spending
    • During his tenure there was less federal income than usual
    • Bush fiscal budget lasted until Oct of year 1
    • Bush tax cuts extended by 2 years under Obama due to aforementioned recession – this added 858b
    • Inherited 1.2 trillion deficit that ended at 665 billion – so essential cut it in half AND weathered the economic storm
    • Is budget deficit by year: 1.2T, 1.3T, 1T, 679b, 485b, 438b, 585b, 665b – you’re telling half the story

    you’re telling half the story and you’ve fudged the numbers. Are you looking at fiscal or calendar year because when I look up his deficit I’m getting different numbers (mentioned above)

    0
    -1
    Rating: -1. From 1 vote.
    Please wait...
    #1202789

    VirgilCaine
    Participant

    Good grief.

    0
    -1
    Rating: -1. From 1 vote.
    Please wait...
    #1202816

    Schianoismyhero
    Participant

    One of us is off on the deficit. I checked two sources that do not reflect your numbers.

    So is that a calendar year deficit number, IB?

    0
    -1
    Rating: -1. From 1 vote.
    Please wait...
    #1202859

    ISLAND BUCS
    Participant

    I think it is fiscal year which ends 9-30.

    Got the information some time ago.

    I think it came from this source:

    https://www.thebalance.com/us-deficit-by-year-3306306

     

     

    +1
    0
    Rating: +1. From 1 vote.
    Please wait...

    Remain intimately at the heart of experience.

    #1202909

    Schianoismyhero
    Participant

    Same website but specifically on Obama

    https://www.thebalance.com/national-debt-under-obama-3306293

    Fiscal year numbers are different than yours… remember his first full fiscal year started in October

    0
    -1
    Rating: -1. From 1 vote.
    Please wait...
    #1202915

    VirgilCaine
    Participant

    Crazy conversation. Lol. Trump had a completely discretionary, growing economy tax cut. It’s filtered out, added to the DEBT…. and now the economy is slowing.

    Obama had the biggest financial crisis of a generation brought on by having regulation weakened by the GOP, which is what Trump is doing now.

    The balance is in the middle, but the lesson in this thread is one of partisan dishonesty.

    0
    -1
    Rating: -1. From 1 vote.
    Please wait...
Viewing 15 posts - 31 through 45 (of 52 total)

You must be logged in to reply to this topic.