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Re: The Nation's Financial Condition
Posted: Mon Nov 16, 2020 9:31 pm
by old salt
Typical Lax Dad wrote: ↑Mon Nov 16, 2020 9:09 pm
old salt wrote: ↑Mon Nov 16, 2020 9:01 pm
jhu72 wrote: ↑Fri Nov 13, 2020 9:42 am
It is the tax code. Federal taxes are reduced to only cover (grossly) the national defense. We will look more like Switzerland. State taxes go up to cover the other expenditures now covered by the feds. The biggest bite going to the tax man goes to the state government. We stop sharing anything at the Federal level outside (grossly) national defense. States are responsible for everything else. You want education in your state, you pay for it. You want research universities in your state, you pay for it. You want agricultural subsidies for corn, you pay for it. You want a wilderness area to draw out of state visitors, you pay for it. You want a river dredged, you pay for it. You want agricultural insurance, you pay for it. NOTHING IS SHARED! NOTHING IS SUBIDISED BY THE FEDERAL GOVERNMENT. A hurricane blows through your state, no federal assistance. The state pays for it. It is pure capitalism 24/7. No more subsidizing internet access. No more subsidizing infrastructure. Nothing is shared at the federal level but the military. You want it, you pay for it. You can't afford it, you don't get it.
The red states will love this. They don't want to pay taxes - they don't have to! Inside of 20 years they will all look like an unkempt trailer park.
They want to produce food, great. They don't want to produce food, great. There are people all over the world willing to supply what the red states supply,
The red states will continue to supply the human cannon fodder to fight the wars which ensure continued blue state global dominance.
I know plenty of people that have joined from my small town. Definitely a town that supported Biden.
https://www.businessinsider.com/us-mili ... try-2014-7
...some of the lowest rates of state-by-state enlistment are in New England and the Northeast, Maine notwithstanding. The Northeast of the U.S. was the most underrepresented region of the country for recruitment in 2013: Despite having 18% of the 18-24 year-old civilian population only 14% of new enlistments came from this area.
https://www.forbes.com/sites/chuckdevor ... 0e1a0b534c
Re: The Nation's Financial Condition
Posted: Mon Nov 16, 2020 10:19 pm
by Typical Lax Dad
old salt wrote: ↑Mon Nov 16, 2020 9:31 pm
Typical Lax Dad wrote: ↑Mon Nov 16, 2020 9:09 pm
old salt wrote: ↑Mon Nov 16, 2020 9:01 pm
jhu72 wrote: ↑Fri Nov 13, 2020 9:42 am
It is the tax code. Federal taxes are reduced to only cover (grossly) the national defense. We will look more like Switzerland. State taxes go up to cover the other expenditures now covered by the feds. The biggest bite going to the tax man goes to the state government. We stop sharing anything at the Federal level outside (grossly) national defense. States are responsible for everything else. You want education in your state, you pay for it. You want research universities in your state, you pay for it. You want agricultural subsidies for corn, you pay for it. You want a wilderness area to draw out of state visitors, you pay for it. You want a river dredged, you pay for it. You want agricultural insurance, you pay for it. NOTHING IS SHARED! NOTHING IS SUBIDISED BY THE FEDERAL GOVERNMENT. A hurricane blows through your state, no federal assistance. The state pays for it. It is pure capitalism 24/7. No more subsidizing internet access. No more subsidizing infrastructure. Nothing is shared at the federal level but the military. You want it, you pay for it. You can't afford it, you don't get it.
The red states will love this. They don't want to pay taxes - they don't have to! Inside of 20 years they will all look like an unkempt trailer park.
They want to produce food, great. They don't want to produce food, great. There are people all over the world willing to supply what the red states supply,
The red states will continue to supply the human cannon fodder to fight the wars which ensure continued blue state global dominance.
I know plenty of people that have joined from my small town. Definitely a town that supported Biden.
https://www.businessinsider.com/us-mili ... try-2014-7
...some of the lowest rates of state-by-state enlistment are in New England and the Northeast, Maine notwithstanding. The Northeast of the U.S. was the most underrepresented region of the country for recruitment in 2013: Despite having 18% of the 18-24 year-old civilian population only 14% of new enlistments came from this area.
https://www.forbes.com/sites/chuckdevor ... 0e1a0b534c
I had read something similar. Still know a lot of kids from my town that are serving.... 3 Navy SEALs, 2 USNA grads, 1 current USNA cadet and another USNA grad from 2 towns over. 1 kid in the Navy reserve. 2 friends with kids at Army West Point. One graduated this year and the other should next year.
Re: The Nation's Financial Condition
Posted: Mon Nov 16, 2020 11:04 pm
by jhu72
All hail the real economic leader in the Pacific. Trump making America less great, abdicating our economic position in the Pacific.
Re: The Nation's Financial Condition
Posted: Tue Nov 17, 2020 12:43 pm
by kramerica.inc
Undoubtedly the leader. Lots of people love cheap goods and items, driven by slave labor. Why shouldn't we support it?
http://www.chinalaborwatch.org/report/138
Re: The Nation's Financial Condition
Posted: Wed Nov 18, 2020 4:17 pm
by jhu72
Wall Street wants less caos -- less Trump. Shouldn't surprise anyone.
Re: The Nation's Financial Condition
Posted: Wed Nov 18, 2020 4:19 pm
by jhu72
... not going to change China by not engaging with them. We had a chance to play the game on our home field with TPP. Now it is on China's homefield and we are on the outside looking in. This was a huge mistake.
Re: The Nation's Financial Condition
Posted: Wed Nov 18, 2020 5:03 pm
by old salt
jhu72 wrote: ↑Wed Nov 18, 2020 4:19 pm
... not going to change China by not engaging with them. We had a chance to play the game on our home field with TPP. Now it is on China's homefield and we are on the outside looking in. This was a huge mistake.
Even China free trade maximalist Hank Paulson counsels against scaling back Trump's trade restrictions with concessions in return.
https://www.scmp.com/news/china/article ... procity-us
HRC campaigned against TPP too. Failed Obama sales job.
Re: The Nation's Financial Condition
Posted: Wed Nov 18, 2020 5:31 pm
by Farfromgeneva
Vol skews markets downward generally (mostly), so yeah, volatility is a "bad" thing in the context of desiring markets to only go up.
Re: The Nation's Financial Condition
Posted: Wed Nov 18, 2020 10:12 pm
by jhu72
old salt wrote: ↑Wed Nov 18, 2020 5:03 pm
jhu72 wrote: ↑Wed Nov 18, 2020 4:19 pm
... not going to change China by not engaging with them. We had a chance to play the game on our home field with TPP. Now it is on China's homefield and we are on the outside looking in. This was a huge mistake.
Even China free trade maximalist Hank Paulson counsels against scaling back Trump's trade restrictions with concessions in return.
https://www.scmp.com/news/china/article ... procity-us
HRC campaigned against TPP too. Failed Obama sales job.
... we will come to regret it.
Re: The Nation's Financial Condition
Posted: Thu Nov 19, 2020 11:25 am
by a fan
jhu72 wrote: ↑Wed Nov 18, 2020 10:12 pm
old salt wrote: ↑Wed Nov 18, 2020 5:03 pm
jhu72 wrote: ↑Wed Nov 18, 2020 4:19 pm
... not going to change China by not engaging with them. We had a chance to play the game on our home field with TPP. Now it is on China's homefield and we are on the outside looking in. This was a huge mistake.
Even China free trade maximalist Hank Paulson counsels against scaling back Trump's trade restrictions with concessions in return.
https://www.scmp.com/news/china/article ... procity-us
HRC campaigned against TPP too. Failed Obama sales job.
... we will come to regret it.
We will regret not actively finding other trading partners than China.....It's astounding how bad the American 1%ers are at business. All that access to power....and they let our country fall behind on just about every front.
Re: The Nation's Financial Condition
Posted: Thu Nov 19, 2020 11:34 am
by jhu72
a fan wrote: ↑Thu Nov 19, 2020 11:25 am
jhu72 wrote: ↑Wed Nov 18, 2020 10:12 pm
old salt wrote: ↑Wed Nov 18, 2020 5:03 pm
jhu72 wrote: ↑Wed Nov 18, 2020 4:19 pm
... not going to change China by not engaging with them. We had a chance to play the game on our home field with TPP. Now it is on China's homefield and we are on the outside looking in. This was a huge mistake.
Even China free trade maximalist Hank Paulson counsels against scaling back Trump's trade restrictions with concessions in return.
https://www.scmp.com/news/china/article ... procity-us
HRC campaigned against TPP too. Failed Obama sales job.
... we will come to regret it.
We will regret not actively finding other trading partners than China.....It's astounding how bad the American 1%ers are at business. All that access to power....and they let our country fall behind on just about every front.
TPP is not just China, it was/is those other countries. Back out as we did sent a signal, not a good one IMO, to all those other countries as well. Now when we go to sign unilateral deals with those other nations, they are going to want to use the Chinese version of TPP as the template for that agreement and we will have to fight for our changes, rather than already have those things in the agreement that we would have only had to fight for once. I think we cut off our nose to spite our face.
Re: The Nation's Financial Condition
Posted: Thu Nov 19, 2020 11:48 am
by dislaxxic
a fan wrote: ↑Thu Nov 19, 2020 11:25 amWe will regret not actively finding other trading partners than China.....It's astounding how bad the American 1%ers are at business. All that access to power....and they let our country fall behind on just about every front.
It's a big game for them, and they've managed to engineer out much risk. They're mostly all "too big to fail" at this point. Trumpist republican party is just fine with all this since...well...you know: trickle down.
..
Re: The Nation's Financial Condition
Posted: Thu Nov 19, 2020 12:00 pm
by MDlaxfan76
old salt wrote: ↑Wed Nov 18, 2020 5:03 pm
jhu72 wrote: ↑Wed Nov 18, 2020 4:19 pm
... not going to change China by not engaging with them. We had a chance to play the game on our home field with TPP. Now it is on China's homefield and we are on the outside looking in. This was a huge mistake.
Even China free trade maximalist Hank Paulson counsels against scaling back Trump's trade restrictions with concessions in return.
https://www.scmp.com/news/china/article ... procity-us
HRC campaigned against TPP too. Failed Obama sales job.
Always funny how the actual words get skewed by the writer. I've italicized Paulson's actual words to separate from the writer's slant on them.
Henry Paulson, a former US Treasury secretary long known as one of Washington’s strongest proponents of dialogue with Beijing, said President Trump’s tariffs on Chinese goods should not be lifted without the US getting something in return.
“The American administration is about to change. But the clock will not simply be rewound,” Paulson said in a speech at the Bloomberg New Economy Forum on Monday. “
We should look to a punitive toolkit built on targeted reciprocity that includes jointly withholding access to our markets.”
His remarks were the latest sign that the dramatic, bipartisan, and negative shift in American attitudes toward China during the Xi Jinping era will not necessarily soften after Trump leaves office.
Tensions between the two countries have rapidly worsened in recent years over trade policy, human rights, and most recently the coronavirus. As Xi has tightened his grip on power in Beijing, both parties in Washington have increasingly come to see China as a destabilising and aggressive threat.
“The Trump administration was responding to real concerns of American people about China, and real failures of China to act as responsible global citizens,” said Paulson, who served as US Treasury secretary under George W Bush and in 2011 founded a think tank aimed at fostering the US-China relationship.
“
The question is how we respond to these legitimate issues,” Paulson said, suggesting the Biden administration use a policy he called “targeted reciprocity”.
“
Instead of President Trump’s emphasis on outdated, ineffective purchase agreements, we need to focus on the future by opening key areas to investment and export,” he said. “
We must tackle the market distortions of China’s state-owned firms. And we’ll need to deal with structural and process issues that include services, not just goods.”
“
The agreement should be done in phases with regular deliverables, beginning with easier issues that build momentum to tackle the tough ones,” he continued. “
In return the US should be prepared to open its own markets.”
In other words, smarter.
Re: The Nation's Financial Condition
Posted: Thu Nov 19, 2020 12:06 pm
by MDlaxfan76
Our China relationship is immensely challenging.
We need to focus on actually competing rather than just demanding of others, using all the tools of soft power to win allies to our views of attaining social justice rather than merely focusing on short term economic advantage.
Our perspective needs to be long term.
Re: The Nation's Financial Condition
Posted: Thu Nov 19, 2020 6:08 pm
by jhu72
MDlaxfan76 wrote: ↑Thu Nov 19, 2020 12:06 pm
Our China relationship is immensely challenging.
We need to focus on actually
competing rather than just demanding of others, using all the tools of soft power to win allies to our views of attaining social justice rather than merely focusing on short term economic advantage.
Our perspective needs to be long term.
+1
You are not going to change their pay scales; you are not going to change their IP practices by taking your ball and going home.
Re: The Nation's Financial Condition
Posted: Thu Nov 19, 2020 6:45 pm
by a fan
jhu72 wrote: ↑Thu Nov 19, 2020 6:08 pm
MDlaxfan76 wrote: ↑Thu Nov 19, 2020 12:06 pm
Our China relationship is immensely challenging.
We need to focus on actually
competing rather than just demanding of others, using all the tools of soft power to win allies to our views of attaining social justice rather than merely focusing on short term economic advantage.
Our perspective needs to be long term.
+1
You are not going to change their pay scales; you are not going to change their IP practices by taking your ball and going home.
I'd be
delighted if the .gov worked to help citizens as a whole short term, long term, or anything in between.
What we do, instead, is help individual companies or sectors with our trade rules, taxes, and regulations.
We haven't used our soft or hard power....or used our GDP to our advantage....in about 50 years. We give other countries unfettered access to our markets like we're stupid.
Put someone in charge of this like Mark Cuban? And sit back and watch the results. Heck, I could personally have done a better job with our fake Trade War with China. Imagine what someone who really understands business at a high level like Cuban could do....
Re: The Nation's Financial Condition
Posted: Thu Nov 19, 2020 7:59 pm
by CU88
a fan wrote: ↑Thu Nov 19, 2020 6:45 pm
jhu72 wrote: ↑Thu Nov 19, 2020 6:08 pm
MDlaxfan76 wrote: ↑Thu Nov 19, 2020 12:06 pm
Our China relationship is immensely challenging.
We need to focus on actually
competing rather than just demanding of others, using all the tools of soft power to win allies to our views of attaining social justice rather than merely focusing on short term economic advantage.
Our perspective needs to be long term.
+1
You are not going to change their pay scales; you are not going to change their IP practices by taking your ball and going home.
I'd be
delighted if the .gov worked to help citizens as a whole short term, long term, or anything in between.
What we do, instead, is help individual companies or sectors with our trade rules, taxes, and regulations.
We haven't used our soft or hard power....or used our GDP to our advantage....in about 50 years. We give other countries unfettered access to our markets like we're stupid.
Put someone in charge of this like Mark Cuban? And sit back and watch the results. Heck, I could personally have done a better job with our fake Trade War with China. Imagine what someone who really understands business at a high level like Cuban could do....
We are at a point where we need someone like Cuban, to lead the charge, but it will take many experts giving him input on the broad spectrum of issues as a backstop. I don't know if people read or listen to the NYT Daily, NPR plays it also. Todays was just about 7 Data Points and each has a powerful impact on American life. Crazy to think that during the Great Recession we lost 9,000,000 jobs. Today we are still trying to recover 10,000,000 of the 22,000,000 jobs lost in April/May of 2020. We have a long way to go.
https://www.nytimes.com/2020/11/19/podc ... yment.html
"There are several ways to tell the story of the American economy right now.
Some data portray hope: Spending on consumer goods is higher than it was before the pandemic, and the housing market is booming.
Others paint a more dire picture: The service sector is struggling badly, and the federal aid that initially saved the economy from ruin could soon disappear.
Using seven key numbers, we look at the sectors that have been affected most profoundly and consider what the path to recovery might look like."
Re: The Nation's Financial Condition
Posted: Sat Nov 21, 2020 4:44 pm
by holmes435
Road & Track: Cheap Fun Cars Are Dying Because Young People Can't Afford Them
"It’s no coincidence that the era when American workers had their greatest buying power—1945 to 1974—launched some of the most influential, innovative, and exciting cars in the history of the automobile. The decades since have seen a gradual, slow decline in the market’s appetite for attainable enthusiast cars, and a subsequent unwillingness among automakers to cater to a shrinking customer base. Until economic conditions change, we’re unlikely to gain back what we’ve lost."
Re: The Nation's Financial Condition
Posted: Sat Nov 21, 2020 11:30 pm
by old salt
holmes435 wrote: ↑Sat Nov 21, 2020 4:44 pm
Road & Track: Cheap Fun Cars Are Dying Because Young People Can't Afford Them
"It’s no coincidence that the era when American workers had their greatest buying power—1945 to 1974—launched some of the most influential, innovative, and exciting cars in the history of the automobile. The decades since have seen a gradual, slow decline in the market’s appetite for attainable enthusiast cars, and a subsequent unwillingness among automakers to cater to a shrinking customer base. Until economic conditions change, we’re unlikely to gain back what we’ve lost."
Amen brother ! ....the energy crisis didn't help. After my '69 Corvette was stolen, I scratched the itch by owning a a string of 3 Fiat, then Bertone X-1/9's, from 1978 - 2020, for driving to work & lax games @ 33 mpg on unleaded regular.
https://bringatrailer.com/fiat/x19/
Re: The Nation's Financial Condition
Posted: Sun Nov 22, 2020 12:23 am
by holmes435
old salt wrote: ↑Sat Nov 21, 2020 11:30 pm
holmes435 wrote: ↑Sat Nov 21, 2020 4:44 pm
Road & Track: Cheap Fun Cars Are Dying Because Young People Can't Afford Them
"It’s no coincidence that the era when American workers had their greatest buying power—1945 to 1974—launched some of the most influential, innovative, and exciting cars in the history of the automobile. The decades since have seen a gradual, slow decline in the market’s appetite for attainable enthusiast cars, and a subsequent unwillingness among automakers to cater to a shrinking customer base. Until economic conditions change, we’re unlikely to gain back what we’ve lost."
Amen brother ! ....the energy crisis didn't help. After my '69 Corvette was stolen, I scratched the itch by owning a a string of 3 Fiat, then Bertone X-1/9's, from 1978 - 2020, for driving to work & lax games @ 33 mpg on unleaded regular.
https://bringatrailer.com/fiat/x19/
My family has a strange coincidence of all owning white Mustangs when we met our future wives. My father and father-in-law had mid to late 60's and I had an '06. Have since gone to "sensible" SUVs with two kiddos riding in the back and the need for some off-road capabilities, but my wife and I both want something faster again. Maybe a 3rd "Sunday driver" in the next year or two. The new Corvettes are gorgeous, but a lot different in heritage than the front-engine RWD versions they built themselves up on. I'm nowhere near a knowledgeable car guy, but I do have that itch...