American Economics Thread

J

Just4Fun

Junior Member
Registered Member
Another blow to Trump.
Could the Dems get their hands on Trump's financial records?

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Trump loses appeal to block Deutsche Bank, Capital One from handing his financial records to Congress
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PUBLISHED TUE, DEC 3 201910:29 AM EST

Key points:
  • A federal appeals court rules that Deutsche Bank and Capital One must hand over years of President Trump’s financial records in compliance with House Democrats’ subpoenas.
  • The ruling marks another loss in the courts for Trump, who has vigorously fought off efforts by lawmakers and prosecutors seeking details about his finances.
  • The case is likely destined for the Supreme Court, where the president has already appealed two other lower court decisions requiring the disclosure of his financial records.
 
manqiangrexue

manqiangrexue

Brigadier
Tsk tsk tsk. People are saying that this is the reason that drove Trump to his recent desperate move of starting trade wars against Brazil and Argentina hoping to stem their sale of agriculture...

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American manufacturing sector contracts fourth month in a row
By
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,
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Updated 4:23 PM ET, Mon December 2, 2019

The Institute for Supply Management reported activity at America's factories contracted for a fourth-straight month in November. The purchasing managers' index was only 48.1, compared with the economists' consensus forecast of 49.2. Any reading under 50 denotes a contraction.

So much for the fourth quarter stabilization that many economists had expected.

"A bounce was expected after the end of the GM strike and amid some easing in U.S./China trade tensions," said Sal Guatieri, senior economist at BMO. The worse-than-expected data also followed some
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and Europe, which suggested the sector might be stabilizing globally.

Making matters worse, October construction spending also sharply underperformed forecasts, falling 0.8% when a 0.4% bump was expected.
 
J

Just4Fun

Junior Member
Registered Member
U.S. Dominance in Global Services Weakens
Dec. 3, 2019 1:23 pm ET

"Some softness in demand reflects cyclical factors, such as slowing foreign economies, but other forces are weighing on exports and prompting Americans to buy more foreign services"

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American decline moves at an unbelievably fast speed. The US now need buy more foreign patents and retain more foreign business services, eating out its service surplus.

The US has lost its championship in many real economy areas, such as world largest goods producer, world largest manufacturer, world largest merchandise trader, world largest goods exporter, the largest share-holder of world economy, the largest contributor to world economy, the largest real economy of the world,...etc. since 2008. Now its soft-power, its global dominance in service is under pressure. During the first 9 months of 2019, the US scored only $17.85 billions service trade surplus, a 10% decrease compared with the same period of last year, the largest drop in its service surplus since 2003.

This drop is ominous to US global dominance in science, technology, academics,and rule-writing in world business. Service global dominance is considered as the core of the US soft-power and the core of the US global science and technology dominance. About 75% of American service exports come from intellectual property services, business services, financial services, and other non-goods services.



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manqiangrexue

manqiangrexue

Brigadier
When your trade and manufacturing adviser's too stupid to understand academic "mumbo jumbo" LOL

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U.S. solar group says Trump tariffs killing jobs; White House says 'fake news'
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By Nichola Groom
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•December 4, 2019

(Reuters) - The U.S. solar industry warned on Tuesday that the Trump administration's tariffs on imported panels will cost the United States 62,000 jobs and $19 billion in investment, an estimate the White House dismissed as "fake news".

The industry's top trade group, the U.S. Solar Industries Association (SEIA), said the lost investment equated to 10.5 gigawatts in missed solar energy installations, enough to power about 1.8 million homes.

Peter Navarro, Trump's trade and manufacturing advisor, said the report was "classic fake news dressed up in academic mumbo jumbo."
 
manqiangrexue

manqiangrexue

Brigadier
Chish said:
Peter Navarro, Trump's trade and manufacturing advisor, said the report was "classic fake news dressed up in academic mumbo jumbo."

It'"s a bit rich for him to say that considering that he created fake people in his book dressed up as economist.
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Click to expand...
It's way funnier than that; it made me actually laugh out loud because a person in such a high government position is supposed to be extremely well-educated and knowledgeable on all facets of manufacturing and trade. He's supposed to be able to dissect every academic argument and make an intelligent response as to why he agrees or disagrees but instead, he gives the most brain-dead if-I-don't-understand-it-then-it-doesn't-make-sense answer possible. He sounds like he just got mind-fucked on a debate stage where he could neither keep up with his opponent's logic nor vocabulary so he's trying blow past his humiliation in the crudest way possible. By calling academic studies "mumbo jumbo," it sounds like he's some bum who looks down on the very concept of academics or education because he's too stupid to get it.
 
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Gatekeeper

Gatekeeper

Brigadier
Registered Member
The Atlantis report. I haven't verify figures quoted. But if it's so, it's scary. Soya beans production went from 103 million/billon (can't remember which) tonnes to 34, in 2018 to 2019! that's some drop!

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AssassinsMace

AssassinsMace

Lieutenant General
Navarro is speaking the language of Americans. It's just like how they believe in a zero-sum game. In order for them to win, the other side has to completely lose. Negotiation is seen by Americans as weakness. Americans think that applies in trade too. With that mentality how can the US lose jobs in the solar industry when solar panels are not made in America? So if it's not 100% American on their end, it's as good as losing.
 
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