Looks like the economy was OK after all

Screenshot 2024-11-19 144602.png

No, I don't think the economy was/is fine (it hasn't been for decades), but then I'm not so stupid as to believe that this election will immediately change anything. Especially since Trump is months away from taking office.
The real question is how people who are paid to predict the future see the economy. Let's start overseas and work our way back.

Japanese investors sold a record $61.9 billion of the securities in the three months ended Sept. 30, data from the US Department of the Treasury showed on Monday. Funds in China offloaded $51.3 billion during the same period, the second biggest sum on record.

The return on Treasuries peaked at a 2-1/2 year high in mid-September before the Republican Party gained control of both houses of Congress and the White House. The securities have since dropped almost 4% from that level on concern President-elect Donald Trump’s low-tax, high tariff policies will fuel inflation.

In a very unusual outcome, China issued dollar-denominated bonds that they actually pay less interest that the U.S. government.
Why would this happen? It's actually very simple.

The Peterson Institute for International Economics, a leading think tank, has estimated that Trump’s policies would slash the U.S. gross domestic product — the total output of goods and services — by between $1.5 trillion and $6.4 trillion through 2028. Peterson also estimated that Trump’s proposals would drive prices sharply higher within two years: Inflation, which would otherwise come in at 1.9 percent in 2026, would instead jump to between 6 percent and 9.3 percent if Trump’s policies were enacted in full.

Last month, 23 Nobel-winning economists signed a letter warning that a Trump administration “will lead to higher prices, larger deficits, and greater inequality.”

After years of experience on Reddit, I now know that Nobel-winning economists all have Trump Derangement Syndrome. However, I also acknowledge that if the Democrats can control hurricanes, then in comparison controlling the economy should be easy.
Of course if the Democratic-controlled deep state can control the weather and economy then there is no reason that they couldn't rig an election. Which makes me think that they allowed Trump to win.

Or maybe it's all just bullshit.

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Sima's picture

I think.

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If you're poor now, my friend, then you'll stay poor.
These days, only the rich get given more. -- Martial book 5:81, c. AD 100 or so
Nothing ever changes -- Sima, c. AD 2020 or so