Trump policies would slow down economy

[legiteum]

If you like it the way it is, it's because you are an Elite money-maker, and a warmonger.

In case anybody was wondering, yes, this is the sort of ideology that Trump and the Republican party stands for now. Forget everything you know about "Republicans" and "Conservatives" and so forth. This is a new party with new goals.

These people used to be called "hippies", and now they are called, "Republicans". They don't care about the US doing better economically, and they are perfectly fine to bring the US to financial ruin if that's what it takes to achieve their "culture war" objectives of "Make America White Again" or whatever.

I know this is very hard for foreigners to grasp since they only get the highlights of US politics once every few years, but please understand that things have changed here and the "pro-business" party is now called, "Democrats".

[BADecker]

If you like it the way it is, it's because you are an Elite money-maker, and a warmonger.

In case anybody was wondering, yes, this is the sort of ideology that Trump and the Republican party stands for now. Forget everything you know about "Republicans" and "Conservatives" and so forth. This is a new party with new goals.

These people used to be called "hippies", and now they are called, "Republicans". They don't care about the US doing better economically, and they are perfectly fine to bring the US to financial ruin if that's what it takes to achieve their "culture war" objectives of "Make America White Again" or whatever.

I know this is very hard for foreigners to grasp since they only get the highlights of US politics once every few years, but please understand that things have changed here and the "pro-business" party is now called, "Democrats".

The problem with your thinking is that a whole bunch of pro-business leaders don't understand or adhere to the principle of "Enlightened Self-Interest." They are dumb as a rock in a bunch of ways, outside of the one little niche in which they make their money. This is the Dem leaders, most of whom don't even understand how the Federal Reserve Bank system is ripping them off right and left.


Let me explain it again.

If Trump shut down the Federal income tax, government couldn't borrow any more money from the banks. Why not? Because it is the amount of income tax (IRS tax) collected that determines how much money government can borrow (create) from the banks.

With the Fed not getting any more funds from the people, it might sue the government for repayment of what the government owes. Then it will be up to government to simply print more to repay - the Treasury has that right - or to shut the Fed down so that their suit amounts to nothing.

In the Revelation in the Bible, Babylon is shown to be the banking system. As things stand, now, it's the Federal Reserve Bank system. The Rev says that it will crash in one hour. With Trump coming into office, this could happen with the removal of the IRS tax.

Most of the people want this, even if they don't realize that they want it. It will give them FREEDOM... from bank debt. In addition, they will be able to control the government's printing of money better than they can control the Fed. And the US can come under Constitutional forms of money printing, again.


Trump's policies are great. And even you won't lose anything... especially if you borrow yourself into big debt right now, before the debt of what you borrow is cancelled along with the cancellation of the Fed.

[fuguebtc]

You should stop repeating this nonsense because the price of bitcoin has increased millions of times since 2009 until now, not just during Biden's term.

I'll stop correcting the record when people stop lying about Biden's supposed ill-effects on Bitcoin.

But having a pro-crypto president will push things faster and stronger, and that's why people support the pro-crypto candidate instead of voting for the anti-crypto one.

Both candidates are pro-crypto. Bitcoin went up $800 billion under president Biden.

No one denies that bitcoin has grown under Biden but you need to understand that bitcoin growth is cyclical. Similar to what is going to happen, if history repeats itself, whoever becomes president, bitcoin will continue to grow. But the problem is that during his time in office, Biden has repeatedly made proposals that are unfavorable to cryptocurrencies as well as appointing Gary as SEC chairman. I don't need to explain much, you can see how much the whole crypto community hates Gary and he is representing Biden against the crypto industry.


Currently, only Trump has publicly stated his support for cryptocurrencies, Harris has not made any similar statements. Just because she accepts crypto donations through PAC doesn't mean she's pro-crypto.

Economically, I think everyone knows who is better. It's just that you are stubborn and refuse to accept the truth, so even if I give you more evidence, you will still deny it.

[Franctoshi]

https://thehill.com/business/4861677-goldman-sachs-trump-impact/

Trump’s plans to crack down on immigration and impose new tariffs on Chinese goods will take a chunk out of gross domestic product (GDP) growth to the tune of a half percentage point in the second half of 2025 before rebounding in the following year, Goldman analysts predicted.

I get that there are some--especially foreigners--who don't know much about present-day US politics and only know that in decades past that the Republican party was the "conservative" party, and the one that typically made things better for business here.

That's not the case anymore. Trump is promising radical change to the US economy, and changes that could send the US economy--and thus the price of Bitcoin--into the toilet.

I don't really think this will be so because the evidence is seen with his first time in office, where the US economy bounced back and became the largest economy in the world in terms of GDP growth, So coming to this second term ,I doubt if he wouldn't even make it more better after standing aside and watching for a period of 3 years plus now, we saw him build walls during his first administration to try to stop immigrants, but didn't stop the US economy from booming, as the economy does not only rely on immigration policies to soar.

[legiteum]

Economically, I think everyone knows who is better. It's just that you are stubborn and refuse to accept the truth, so even if I give you more evidence, you will still deny it.

"Everybody" in your mind means, "those who want abortion to be illegal in the USA and want to eliminate immigrants from our country".

I have made a clear and strong case as to why Trump will be terrible for the US economy, and terrible for Bitcoin. But those who want Trump for other reasons will not hear any rational argument. Trump is a convicted criminal, but you believe every word he says anyhow. Trump was a terrible businessman who lost half of his inheritance, but you believe he is a genius. Trump can't even finish a coherent sentence anymore, yet you trust him with your very life.

That's what ideology does to people: you ignore the facts, you ignore the evidence, you ignore the world's top economists: you just want Trump and nothing else because abortion, etc.

[TwitchySeal]

Economically, I think everyone knows who is better. It's just that you are stubborn and refuse to accept the truth, so even if I give you more evidence, you will still deny it.

To elaborate on legiteums point...

By everybody, you mean everybody who is uneducated, which is, and this is not a coincidence, Trumps strongest demographic.

Wall Street is not uneducated though.  And when Trumps chances of winning increase, so does the spread on 2 and 10 year bonds.  After Bidens debate disaster the 10 year shot up over 20 basis points for example.  Then dropped when Kamala was surging in polls.

All this means that the market is assuming if Trump wins then interest rates will be low in the short term and high in the long term, Trump makes the curve steeper.  The tax cuts and tariffs are expected to put more money in peoples pocket and increase prices, and deporting millions of undocumented US workers will kill the labor market, which already doesn't have enough workers.  Also, just like he did right before covid, they expect him to apply pressure on the fed to cut rates for political reasons despite the economy booming, (which it will be in the short term) - which means when warning signs start to appear there's less they can do because the cuts already happened.

Basically, it's clear to 'everyone' that Trump cares about making a booming economy for a couple years so he can take credit and say 'told ya so'.  He doesn't give a fuck what it will look like in 10 years.  (He did the same thing to Atlantic City.  Build a bunch of casinos with other peoples money, have glorious grand openings, take profit, scam all the contractors, declare bankruptcy and peace out.)

Luckily for Trump all of his followers eyes glaze over whenever this argument is made before responding with something like hunter bidens laptop.