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Economic Fake News?

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Economic Fake News?

Old 05-03-2019, 03:34 PM
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Giant Nontypical
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Default Economic Fake News?

Not too long ago -- over the last four weeks -- I have been seeing Internet headlines that one way or the other propose that the economy is in trouble. I saw vague announcements of this several times and in different sources. The funny thing is I think these headlines are BOGUS! It sounds to me like there is nothing that indicates the economy is headed downwards and in fact GDP grew by 3.2% in the first quarter, 3.0% in 2018, and 2.5% in 2017. Unemployment numbers are looking great. Where can such negative headlines related to the economy come from? So some questions.

Have you seen this kind of vague blather -- from multiple sources -- that speak negatively about the economy? Is there something substantive in this blather or is it really just fake news, is it really just what liberals wished was the state of the economy, because they know if Trump can point to a strong economy their hopes in 2020 are sunk? Please comment.
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Old 05-03-2019, 06:07 PM
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Given the real numbers, I think the economy could use another government shut down. Even Neil Cavuto was talking about a slow down because of the shut down.
Another thing that was fake was the talk of smaller tax return checks. Most people who do not live in high taxed states did well. Many people I know file the first of Feb, and get the money in a week or so.
It just goes to show that the country is much bigger than just the beltway, and the coasts.

In the first quarter, I payed off the 4 wheeler and bought a new Kubota tractor, so I did my part. The wife got a few goodies too.

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Old 05-04-2019, 04:33 AM
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It was on the news this morning that employment is at the highest it has been in 50 years. The economy is doing so well the fed has decided again to leave interest rates alone. This has to be giving the demorats heartburn! While they are busy trying to dump Trump things continue to get better. Looks like a sign that demorats are unnecessary to the country's well being!

Last edited by Oldtimr; 05-04-2019 at 04:36 AM.
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Old 05-04-2019, 04:43 AM
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Speaking of contributing to the economy, my wife and I bought a different house in January, moved our belongings from the old house to the new house, and sold the old house in April. This involved tens of thousands of dollars sprinkled around in realtor fees, mortgage origination fees, purchase of materials to remodel the bathroom in the house we sold, and labor fir workmen in our old house. O, we also paid out several thousand dollars for building, painting, and installing custom built-in cabinets and bookshelves in the living room of the new house.
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Old 05-04-2019, 04:47 AM
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If I'm right -- that those guys are publishing false articles on the bad condition of the economy -- aren't they just hammering nails into their own coffin? Do they think somehow that they manufacture the truth and aren't ultimately going to be called out on this? Aren't they just further eroding their reputations?

Last edited by Alsatian; 05-04-2019 at 05:17 AM.
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Old 05-04-2019, 05:08 AM
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Maybe those elite journalists and economists have read the maxims of Francesco Guicciardini, a distinguished peer of -- albeit less well-known than -- Niccolo Machiavelli. Series C, ricordi #37 reads: "Always deny what you don't want to be known, and always affirm what you want to be believed. For, though there be much -- even conclusive -- evidence to the contrary, a fervent affirmation or denial will often create at least some doubt in the mind of your listener."
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Old 05-04-2019, 05:15 AM
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I mention this quote from Gucciardini because I think people often suppose politicians will not outright LIE and that when the same utterance comes from multiple sources they can't all be lying. THAT'S WRONG!!! Yes, they can all be lying! Lying, indeed, is the go-to and prudent action in politics. Wake the hell up people! Don't be naive!!! Guicciardini published this relevant maxim about 1520. It isn't as if it is a secret.
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Old 05-04-2019, 05:37 AM
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You can actually thank the them Democrats it doing as well as it is. It's still not an awesome economy because Donald can't get out of his own way. Now why the Democrats, because they're so caught up the collusion and investigations, their too stupid to join Trump and pass his Democrat ideas like this infrastructure boondoggle and his family leave act. If Donald only allowed his tax cuts to work instead of turning right around and raising our taxes with tariffs, we could be seeing 4 and 5 percent growth. If he gave real across the board tax cuts instead of raising taxes on some Americans we could be percentage point higher.

Don't get me wrong, we're doing much better than under Obama but it's far from a great economy that it could and should be. It's very easily killed if he follows the Democrats lead
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Old 05-06-2019, 09:40 AM
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The economy is doing great. However the D's can't let that go without challenge. Lately I've noticed a swing from "it's not really doing good" to "it won't last much longer and it will crash".

While I believe this rate of growth can't continue, it will level off and possibly even swing down, it will remain strong. I am more worried about statistical games being used.

Say it grows 3.2% for each quarter, then grows 2.5% next. That's still good growth, but I can see the headlines now "economy slows down and drops and slows down"
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Old 05-07-2019, 05:42 PM
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The economy is doing great as Bob said. We are waiting for an adjustment in the stock market which is over due. Stocks need to drop to allow for future growth. Financial people moved that adjustment from possibly this year out to another year or two. The Trump years have been a great time for shrewd and knowledgeable investment people to make money.
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