The Trump Economy

[BigRedBuster]

4 hours ago, commando said:

i am probably reading that wrong.....but....does that say.i can buy 1,000 barrels of oil and they will give me $37,630.   i am sure there is a catch there but why are we not buying all the oil we can buy right now?   maybe we can get rid of all these adds.   

Problem is, you start paying storage till you can sell it again. 

[TGHusker]

Conflict of interest.   Article quoted in part.

 

 

https://www.msn.com/en-us/news/politics/trump-the-company-asks-trump-the-administration-for-hotel-relief/ar-BB1303PH

Trump (the Company) Asks Trump (the Administration) for Hotel Relief

Quote

 

President Trump’s signature hotel in the nation’s capital wants a break on the terms of its lease. The landlord determining the fate of the request is Mr. Trump’s own administration.

 

Trump International Hotel, just a few blocks from the White House, had been a favored gathering place for lobbyists, foreign dignitaries and others hoping to score points with the president. But like most hotels, it is now nearly empty and looking to cut costs because of the coronavirus pandemic.  In recent weeks, the president’s family business has inquired about changing its lease payments, according to people familiar with the matter, which the federal government has reported amount to nearly $268,000 per month.    

The Trump Organization owns and operates the luxury hotel, but it is in a federally owned building on Pennsylvania Avenue. As part of its deal to open the 263-room hotel, the company signed a 60-year lease in 2013 that requires the monthly payments to the General Services Administration.

Eric Trump, the president’s son, confirmed that the company had opened a conversation about possible changes to the terms of the lease, which could include adjustments to future monthly payments. The Trump Organization has said it is current on its rent.

The younger Mr. Trump said the company was asking the G.S.A. for any relief that it might be granting other federal tenants. The president still owns the company, but his eldest sons run the day-to-day operations.

“Just treat us the same,” Eric Trump said in a statement on Tuesday. “Whatever that may be is fine.”

The G.S.A. did not immediately respond to a request for comment, including about whether its other tenants had made similar inquiries. The White House also did not respond to a request for comment.

Companies across the country have pleaded for relief from lenders and landlords, but the Trump Organization’s submission presents a particular predicament.

If it denies the request, the agency risks running afoul of the president, who appoints its leader; but if it accommodates the Trumps, the agency is likely to draw fire from critics.

The Trump Organization was barred by Congress from seeking relief from the $500 billion rescue fund being administered by the Treasury Department, and a Trump Organization executive said on Tuesday that the company had decided not to apply for a federal loan through the Small Business Administration. The company argues that it is seeking only temporary relief from the G.S.A. while the hotel industry globally copes with an extraordinary drop in business.

 

 

[Danny Bateman]

I don't usually post memes but man this one is just too good.

 

[BigRedBuster]

 

[HuskerNBigD]

35 minutes ago, BigRedBuster said:

 

I’d take these numbers with a huge grain of salt. There’s a forensic accounting / research company that has had a hard time tying numbers at a state level to the aggregated national level. I’m not sure how this is feasible, but this administration only has the perceived success of the economy (but more importantly the stock market) to hang its hat on. I wouldn’t put it past them to have a bit of shenanigans going on here. 
 

I mean, when is the last time we’ve had a president decide to host a press conference for still abysmal numbers in absolute terms, granted they look “better” on a relative basis compared to estimates and recent figures? Revisions are more than likely to occur. 

[Danny Bateman]

1 hour ago, HuskerNBigD said:

I’d take these numbers with a huge grain of salt. There’s a forensic accounting / research company that has had a hard time tying numbers at a state level to the aggregated national level. I’m not sure how this is feasible, but this administration only has the perceived success of the economy (but more importantly the stock market) to hang its hat on. I wouldn’t put it past them to have a bit of shenanigans going on here. 
 

I mean, when is the last time we’ve had a president decide to host a press conference for still abysmal numbers in absolute terms, granted they look “better” on a relative basis compared to estimates and recent figures? Revisions are more than likely to occur. 

 

Thanks for the insight. I'm pretty green when it comes to economics, but I've read a couple Krugman books and he's actually catching a ton of flak for even suggesting that the BLS might have been politicized for the benefit of Trump.

 

Given the massive amount of corruption in Trump's federal gov't right now, I don't think it's likely, but certainly not impossible.

 

Ultimately I agree though that these numbers may be due to a ton of noise right now. I'll be very interested to see revisions on them, which we won't get until next month and the month after.

 

For example, they revised the Q1 GDP to be even worse than it appeared at some point in April or May.

[HuskerNBigD]

3 hours ago, Danny Bateman said:

 

Thanks for the insight. I'm pretty green when it comes to economics, but I've read a couple Krugman books and he's actually catching a ton of flak for even suggesting that the BLS might have been politicized for the benefit of Trump.

 

Given the massive amount of corruption in Trump's federal gov't right now, I don't think it's likely, but certainly not impossible.

 

Ultimately I agree though that these numbers may be due to a ton of noise right now. I'll be very interested to see revisions on them, which we won't get until next month and the month after.

 

For example, they revised the Q1 GDP to be even worse than it appeared at some point in April or May.

looks like we already have our answer lol

[TGHusker]

1 hour ago, HuskerNBigD said:

looks like we already have our answer lol

That is an amazing turn of events.  can you provide the link as the post doesn't bring it up

[HuskerNBigD]

2 minutes ago, TGHusker said:

That is an amazing turn of events.  can you provide the link as the post doesn't bring it up

Sure thing, here's the tweet:

 

 

[RedDenver]

 

[Moiraine]

2 minutes ago, RedDenver said:

 

 

 

They think their followers are devoid of brain cells. Probably based on their past s#!t working. E.g. the highest stock market ever, the lowest jobless rate for Blacks ever, etc.

[QMany]

Thanks, Trump.

[deedsker]

Checks notes...before coronavirus hit the U.S. fully.

[Moiraine]

I understand Trump is teflon, I just don't understand why. He is so stupid it hurts.

 

 

https://theweek.com/speedreads/919131/navy-working-ban-all-public-displays-confederate-flag

 

Quote

Trump additionally threatened to impose auto tariffs on the European Union if the bloc doesn't lift its duties on lobsters imported from the U.S., expressing frustration that the EU does not charge Canada such a tariff. "Peter Navarro's going to be the lobster king now, okay?" Trump said.

 

Notably, Canada and the EU drew up the trade agreement that gave Canada an advantage over American lobster back in 2017, partially as a result of Trump's tough trade terms. Additionally, while Maine used to export lobster heavily to China, the trade war with Beijing prompted the country to slap a retaliatory 25 percent tariff on U.S. lobster. Sales to China decreased by 70 percent while at the same time Beijing "cut the Chinese tariff on lobster bought from Canada, Maine's fierce rival in the lobster business," The Atlantic reports. "As a result, Canada has seen its lobster exports to China nearly double. Maine may never recover its previously dominant position in this export market."

 

[teachercd]

Just from what I have seen...everyone here in Omaha seems to be hiring.