LOL funding bills are written by the party controlling the House, which is the GOP.
You think Johnson is conferring with the Dems on what to put in the bill?
We are in debt bc we spend the better part of a trillion dollars a year on defense without a military tax to pay for it
AND...because trump opened up the coffers and gave out free PPP and Employee Retention Credit money....billions
Not to mention those tax cuts that were going to pay for themselves with 4% GDP growth per quarter, quarter over quarter, FOR TEN FUCKING YEARS. But you know, we want a “business man” running things.
I look forward to the smouldering train wreck that will be ‘Murica.
Don't you just love how these people with all their stars and stripes pretend to be "patriots" of a country build on democracy, yet support an oaf who plays dictator and supports oligarchical kakistocracy.
Cuckoo..cuckoo..
"Pretty cookies, heart squares all around, yeah!" -Eddie Vedder, "Smile"
Don't you just love how these people with all their stars and stripes pretend to be "patriots" of a country build on democracy, yet support an oaf who plays dictator and supports oligarchical kakistocracy.
Cuckoo..cuckoo..
We gotta make sure we keep all those 8 trans athletes, out of like 550,000 total athletes, OUT of women's collegiate sports, Brian. It is the issue of our time.
A container ship sits docked at the Port of Oakland, California, on December 9. President-elect Donald Trump has threatened new tariffs on multiple countries as his second term approaches, after making tariffs a signature of his campaign.
Justin Sullivan/Getty Images
New YorkCNN —
Jamie Dimon, head of America’s largest bank, JPMorgan Chase — and commonly referred to as the ‘president of Wall Street’ — spent much of this past year warning that there’s an elevated risk that the US experiences 1970s-esque stagflation, which is when economic growth stagnates while inflation heats up.
“I look at the amount of fiscal and monetary stimulus that has taken place over the last five years — it has been so extraordinary; how can you tell me it won’t lead to stagflation?” Dimon said at a conference in May.
That, of course, was before President-elect Donald Trump won the election. Now, Americans may have to actually brace for stagflation — something the nation’s economy hasn’t experienced in over half a century. This time around, though, fueled by tariffs.
Just over a month from now, Trump will have the power to levy tariffs on other nations at the flick of a pen. And once inaugurated on January 20, he has pledged to immediately impose a 25% tariff on Mexican and Canadian imports and increase tariffs on Chinese goods by an additional 10%.
Many people voted for President-elect Donald Trump with the hope that he’d lower the cost of groceries and other essentials. But Trump’s promised tariffs on imported goods could raise the cost of products ranging from computers to cars to refrigerators. So, is there anything you should consider buying now, before that happens? CNN Business economics writer Elisabeth Buchwald has the lowdown. Read Elisabeth’s full article here. What questions do you have about the technology in your life? Email us at CNNTermsofService@Gmail.com.
Dec 17, 2024 • 20 min
17:50
...
On the campaign trail, he also promised to levy a 10% to 20% tax on all imports and increase tariffs on Chinese goods by at least 60%.
There are some doubts as to whether Trump will follow through with these plans and, instead, use them as a means to negotiate with other nations. However, if these significant, broad-based tariffs go into effect, it could send the US economy back to one of the most painful periods that took over a decade to resolve.
The US economy is miles away from stagflation right now
“I was around for stagflation. It was 10% unemployment. It was high single-digits inflation and very slow growth,” Powell said back in May, referring to when oil prices spiked during the Arab oil embargo in the 1970s.
Enter your email to receive CNN's nightcap newsletter.
When the Fed responded to high levels of unemployment in the 1970s by cutting rates to relieve pressure businesses faced, it later had to contend with higher inflation. To tackle higher inflation, central bankers raised interest rates. But that ushered in more unemployment.
To break that vicious cycle, the Fed opted to prioritize getting inflation down by aggressively raising interest rates, even if it meant the economy would enter a recession, which it did.
Cars line up in two directions at a gas station in New York City on December 23, 1973.
Marty Lederhandler/AP
The US economy currently isn’t anywhere near the conditions the Fed faced during much of the 1970s and 1980s. Though it’s risen over the course of this year, at 4.2%, the nation’s unemployment rate is two percentage points lower than the average seen over the last 50 years.
Meanwhile, inflation has cooled significantly over the past two years. It’s now just a touch above the Fed’s 2% target. Getting it down to that exact level has proved to be challenging.
Overall, the economy grew at an annualized rate of 2.8% last quarter, a slightly weaker pace than the prior quarter, but nevertheless impressive considering the Fed raised interest rates to the highest level in over two decades to fight inflation, which peaked at a 40-year high two years ago. (The Fed started lowering rates earlier this year and is expected to continue to cut at its meeting this week. However, it can take years for the effect to be felt across the economy.)
The path to stagflation
The tariffs Trump has floated aren’t inherently inflationary, Michael Feroli, chief US economist at JPMorgan, told CNN.
While they certainly have the power to make many, if not the majority, of goods Americans buy more expensive, that could just be essentially a one-time bump in the prices of goods, similar to a sales tax increase, he said. But higher tariffs can quickly fuel cascades of price increases if Americans expect higher inflation because of them and demand higher wages, which, in turn, could result in businesses continuing to raise prices.
And if new tariffs are imposed in a “haphazard” and “hasty” way such that businesses don’t have ample time to reconfigure their supply chains, it could significantly hamper economic growth by also forcing businesses to pull back on any new investments due to heightened uncertainty, Feroli said.
Stagflation could also materialize if other nations were to respond with retaliatory tariffs on US-produced goods, likely leading employers to lay off workers as a result, he said.
Though Feroli believes the risk that the US economy experiences stagflation is higher now compared to earlier in the year, it’s not the base case he and the team of economists he works with are predicting at the moment. That’s because they aren’t forecasting inflation jumping by more than a few tenths of a percentage point from current levels, partly because he believes the Trump administration will give US businesses sufficient time to respond to higher tariffs if they’re set in motion.
Wells Fargo economists share a similar view to Feroli.
“These tariff increases, if implemented shortly after Inauguration Day, would impart a modest stagflationary shock to the U.S. economy, boosting our inflation forecasts in the near term, but also dampening our economic growth outlook,” they said in a note last month, published shortly after Election Day. “Should this occur, the probability of a stagflation scenario in our growth model would likely increase.”
“That said, there is tremendous uncertainty about future potential policies,” they cautioned.
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brianlux
Moving through All Kinds of Terrain. Posts: 42,320
Don't you just love how these people with all their stars and stripes pretend to be "patriots" of a country build on democracy, yet support an oaf who plays dictator and supports oligarchical kakistocracy.
Cuckoo..cuckoo..
We gotta make sure we keep all those 8 trans athletes, out of like 550,000 total athletes, OUT of women's collegiate sports, Brian. It is the issue of our time.
For sure! And protect our right to fall for bullshit, make stupid choices, keep them nasty brown people out of OUR country, and eat pets. Especially our right to eat cats and dogs!
"Pretty cookies, heart squares all around, yeah!" -Eddie Vedder, "Smile"
A container ship sits docked at the Port of Oakland, California, on December 9. President-elect Donald Trump has threatened new tariffs on multiple countries as his second term approaches, after making tariffs a signature of his campaign.
Justin Sullivan/Getty Images
New YorkCNN —
Jamie Dimon, head of America’s largest bank, JPMorgan Chase — and commonly referred to as the ‘president of Wall Street’ — spent much of this past year warning that there’s an elevated risk that the US experiences 1970s-esque stagflation, which is when economic growth stagnates while inflation heats up.
“I look at the amount of fiscal and monetary stimulus that has taken place over the last five years — it has been so extraordinary; how can you tell me it won’t lead to stagflation?” Dimon said at a conference in May.
That, of course, was before President-elect Donald Trump won the election. Now, Americans may have to actually brace for stagflation — something the nation’s economy hasn’t experienced in over half a century. This time around, though, fueled by tariffs.
Just over a month from now, Trump will have the power to levy tariffs on other nations at the flick of a pen. And once inaugurated on January 20, he has pledged to immediately impose a 25% tariff on Mexican and Canadian imports and increase tariffs on Chinese goods by an additional 10%.
Many people voted for President-elect Donald Trump with the hope that he’d lower the cost of groceries and other essentials. But Trump’s promised tariffs on imported goods could raise the cost of products ranging from computers to cars to refrigerators. So, is there anything you should consider buying now, before that happens? CNN Business economics writer Elisabeth Buchwald has the lowdown. Read Elisabeth’s full article here. What questions do you have about the technology in your life? Email us at CNNTermsofService@Gmail.com.
Dec 17, 2024 • 20 min
17:50
...
On the campaign trail, he also promised to levy a 10% to 20% tax on all imports and increase tariffs on Chinese goods by at least 60%.
There are some doubts as to whether Trump will follow through with these plans and, instead, use them as a means to negotiate with other nations. However, if these significant, broad-based tariffs go into effect, it could send the US economy back to one of the most painful periods that took over a decade to resolve.
The US economy is miles away from stagflation right now
“I was around for stagflation. It was 10% unemployment. It was high single-digits inflation and very slow growth,” Powell said back in May, referring to when oil prices spiked during the Arab oil embargo in the 1970s.
Enter your email to receive CNN's nightcap newsletter.
When the Fed responded to high levels of unemployment in the 1970s by cutting rates to relieve pressure businesses faced, it later had to contend with higher inflation. To tackle higher inflation, central bankers raised interest rates. But that ushered in more unemployment.
To break that vicious cycle, the Fed opted to prioritize getting inflation down by aggressively raising interest rates, even if it meant the economy would enter a recession, which it did.
Cars line up in two directions at a gas station in New York City on December 23, 1973.
Marty Lederhandler/AP
The US economy currently isn’t anywhere near the conditions the Fed faced during much of the 1970s and 1980s. Though it’s risen over the course of this year, at 4.2%, the nation’s unemployment rate is two percentage points lower than the average seen over the last 50 years.
Meanwhile, inflation has cooled significantly over the past two years. It’s now just a touch above the Fed’s 2% target. Getting it down to that exact level has proved to be challenging.
Overall, the economy grew at an annualized rate of 2.8% last quarter, a slightly weaker pace than the prior quarter, but nevertheless impressive considering the Fed raised interest rates to the highest level in over two decades to fight inflation, which peaked at a 40-year high two years ago. (The Fed started lowering rates earlier this year and is expected to continue to cut at its meeting this week. However, it can take years for the effect to be felt across the economy.)
The path to stagflation
The tariffs Trump has floated aren’t inherently inflationary, Michael Feroli, chief US economist at JPMorgan, told CNN.
While they certainly have the power to make many, if not the majority, of goods Americans buy more expensive, that could just be essentially a one-time bump in the prices of goods, similar to a sales tax increase, he said. But higher tariffs can quickly fuel cascades of price increases if Americans expect higher inflation because of them and demand higher wages, which, in turn, could result in businesses continuing to raise prices.
And if new tariffs are imposed in a “haphazard” and “hasty” way such that businesses don’t have ample time to reconfigure their supply chains, it could significantly hamper economic growth by also forcing businesses to pull back on any new investments due to heightened uncertainty, Feroli said.
Stagflation could also materialize if other nations were to respond with retaliatory tariffs on US-produced goods, likely leading employers to lay off workers as a result, he said.
Though Feroli believes the risk that the US economy experiences stagflation is higher now compared to earlier in the year, it’s not the base case he and the team of economists he works with are predicting at the moment. That’s because they aren’t forecasting inflation jumping by more than a few tenths of a percentage point from current levels, partly because he believes the Trump administration will give US businesses sufficient time to respond to higher tariffs if they’re set in motion.
Wells Fargo economists share a similar view to Feroli.
“These tariff increases, if implemented shortly after Inauguration Day, would impart a modest stagflationary shock to the U.S. economy, boosting our inflation forecasts in the near term, but also dampening our economic growth outlook,” they said in a note last month, published shortly after Election Day. “Should this occur, the probability of a stagflation scenario in our growth model would likely increase.”
“That said, there is tremendous uncertainty about future potential policies,” they cautioned.
Elon is about to become the most powerful person in the history of the world. Whatever he wants to happen will happen.
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Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
Comments
I look forward to the smouldering train wreck that will be ‘Murica.
Libtardaplorable©. And proud of it.
Brilliantati©
-Eddie Vedder, "Smile"
https://www.cnn.com/2024/12/17/economy/trumps-tariffs-stagflation/index.html
Americans may have to actually brace for stagflation with Trump tariffs
Jamie Dimon, head of America’s largest bank, JPMorgan Chase — and commonly referred to as the ‘president of Wall Street’ — spent much of this past year warning that there’s an elevated risk that the US experiences 1970s-esque stagflation, which is when economic growth stagnates while inflation heats up.
“I look at the amount of fiscal and monetary stimulus that has taken place over the last five years — it has been so extraordinary; how can you tell me it won’t lead to stagflation?” Dimon said at a conference in May.
His prediction, however, has been pooh-poohed by many leading economic voices; chief among them was Federal Reserve Chair Jerome Powell, who said at a press conference in May, “I don’t see the stag or the ‘flation.”
That, of course, was before President-elect Donald Trump won the election. Now, Americans may have to actually brace for stagflation — something the nation’s economy hasn’t experienced in over half a century. This time around, though, fueled by tariffs.
Just over a month from now, Trump will have the power to levy tariffs on other nations at the flick of a pen. And once inaugurated on January 20, he has pledged to immediately impose a 25% tariff on Mexican and Canadian imports and increase tariffs on Chinese goods by an additional 10%.
On the campaign trail, he also promised to levy a 10% to 20% tax on all imports and increase tariffs on Chinese goods by at least 60%.
There are some doubts as to whether Trump will follow through with these plans and, instead, use them as a means to negotiate with other nations. However, if these significant, broad-based tariffs go into effect, it could send the US economy back to one of the most painful periods that took over a decade to resolve.
The US economy is miles away from stagflation right now
“I was around for stagflation. It was 10% unemployment. It was high single-digits inflation and very slow growth,” Powell said back in May, referring to when oil prices spiked during the Arab oil embargo in the 1970s.
To break that vicious cycle, the Fed opted to prioritize getting inflation down by aggressively raising interest rates, even if it meant the economy would enter a recession, which it did.
The US economy currently isn’t anywhere near the conditions the Fed faced during much of the 1970s and 1980s. Though it’s risen over the course of this year, at 4.2%, the nation’s unemployment rate is two percentage points lower than the average seen over the last 50 years.
Meanwhile, inflation has cooled significantly over the past two years. It’s now just a touch above the Fed’s 2% target. Getting it down to that exact level has proved to be challenging.
Overall, the economy grew at an annualized rate of 2.8% last quarter, a slightly weaker pace than the prior quarter, but nevertheless impressive considering the Fed raised interest rates to the highest level in over two decades to fight inflation, which peaked at a 40-year high two years ago. (The Fed started lowering rates earlier this year and is expected to continue to cut at its meeting this week. However, it can take years for the effect to be felt across the economy.)
The path to stagflation
The tariffs Trump has floated aren’t inherently inflationary, Michael Feroli, chief US economist at JPMorgan, told CNN.
While they certainly have the power to make many, if not the majority, of goods Americans buy more expensive, that could just be essentially a one-time bump in the prices of goods, similar to a sales tax increase, he said. But higher tariffs can quickly fuel cascades of price increases if Americans expect higher inflation because of them and demand higher wages, which, in turn, could result in businesses continuing to raise prices.
Related articleWhy some concerned shoppers are stockpiling goods
And if new tariffs are imposed in a “haphazard” and “hasty” way such that businesses don’t have ample time to reconfigure their supply chains, it could significantly hamper economic growth by also forcing businesses to pull back on any new investments due to heightened uncertainty, Feroli said.
Stagflation could also materialize if other nations were to respond with retaliatory tariffs on US-produced goods, likely leading employers to lay off workers as a result, he said.
Though Feroli believes the risk that the US economy experiences stagflation is higher now compared to earlier in the year, it’s not the base case he and the team of economists he works with are predicting at the moment. That’s because they aren’t forecasting inflation jumping by more than a few tenths of a percentage point from current levels, partly because he believes the Trump administration will give US businesses sufficient time to respond to higher tariffs if they’re set in motion.
Wells Fargo economists share a similar view to Feroli.
“These tariff increases, if implemented shortly after Inauguration Day, would impart a modest stagflationary shock to the U.S. economy, boosting our inflation forecasts in the near term, but also dampening our economic growth outlook,” they said in a note last month, published shortly after Election Day. “Should this occur, the probability of a stagflation scenario in our growth model would likely increase.”
“That said, there is tremendous uncertainty about future potential policies,” they cautioned.
For sure! And protect our right to fall for bullshit, make stupid choices, keep them nasty brown people out of OUR country, and eat pets. Especially our right to eat cats and dogs!
-Eddie Vedder, "Smile"
Libtardaplorable©. And proud of it.
Brilliantati©
-EV 8/14/93
But please Shecky....tell us how this is Durbin's fault
The Golden Age is 2 months away. And guess what….. you’re gonna love it! (teskeinc 11.19.24)
1998: Noblesville; 2003: Noblesville; 2009: EV Nashville, Chicago, Chicago
2010: St Louis, Columbus, Noblesville; 2011: EV Chicago, East Troy, East Troy
2013: London ON, Wrigley; 2014: Cincy, St Louis, Moline (NO CODE)
2016: Lexington, Wrigley #1; 2018: Wrigley, Wrigley, Boston, Boston
2020: Oakland, Oakland: 2021: EV Ohana, Ohana, Ohana, Ohana
2022: Oakland, Oakland, Nashville, Louisville; 2023: Chicago, Chicago, Noblesville
2024: Noblesville, Wrigley, Wrigley, Ohana, Ohana; 2025: Pitt1, Pitt2
-EV 8/14/93
2013 Wrigley 2014 St. Paul 2016 Fenway, Fenway, Wrigley, Wrigley 2018 Missoula, Wrigley, Wrigley 2021 Asbury Park 2022 St Louis 2023 Austin, Austin
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
Libtardaplorable©. And proud of it.
Brilliantati©
We have those.
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
The Golden Age is 2 months away. And guess what….. you’re gonna love it! (teskeinc 11.19.24)
1998: Noblesville; 2003: Noblesville; 2009: EV Nashville, Chicago, Chicago
2010: St Louis, Columbus, Noblesville; 2011: EV Chicago, East Troy, East Troy
2013: London ON, Wrigley; 2014: Cincy, St Louis, Moline (NO CODE)
2016: Lexington, Wrigley #1; 2018: Wrigley, Wrigley, Boston, Boston
2020: Oakland, Oakland: 2021: EV Ohana, Ohana, Ohana, Ohana
2022: Oakland, Oakland, Nashville, Louisville; 2023: Chicago, Chicago, Noblesville
2024: Noblesville, Wrigley, Wrigley, Ohana, Ohana; 2025: Pitt1, Pitt2
Fucking rubes.
The Golden Age is 2 months away. And guess what….. you’re gonna love it! (teskeinc 11.19.24)
1998: Noblesville; 2003: Noblesville; 2009: EV Nashville, Chicago, Chicago
2010: St Louis, Columbus, Noblesville; 2011: EV Chicago, East Troy, East Troy
2013: London ON, Wrigley; 2014: Cincy, St Louis, Moline (NO CODE)
2016: Lexington, Wrigley #1; 2018: Wrigley, Wrigley, Boston, Boston
2020: Oakland, Oakland: 2021: EV Ohana, Ohana, Ohana, Ohana
2022: Oakland, Oakland, Nashville, Louisville; 2023: Chicago, Chicago, Noblesville
2024: Noblesville, Wrigley, Wrigley, Ohana, Ohana; 2025: Pitt1, Pitt2
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14