Drudge Retort: The Other Side of the News

Drudge Retort

User Info

Sycophant

Subscribe to Sycophant's blog Subscribe

Menu

Special Features

Thursday, September 12, 2019

The US budget deficit widened to $1.067 trillion for the first 11 months of the fiscal year, an increase of 19% over this time last year, the Treasury Department reported Thursday. The current shortfall exceeds the full-year deficit for fiscal 2018, which was $898 billion. President Donald Trump, who promised during the 2016 campaign to eliminate the federal debt, has instead overseen a dramatic increase in deficits. The White House's Office of Management and Budget has predicted that the deficit will exceed $1 trillion for the entire fiscal year, which ends on September 30. On Monday, the nonpartisan Congressional Budget Office said the federal deficit had surpassed $1 trillion in the first 11 months of fiscal 2019, according to its budget review. read more


Monday, August 19, 2019

Given the Proud Boys' history, you would expect the President of the United States to send a clear message before this rally that he not only denounced the hate group, but that he was dedicating all federal resources needed to help local authorities ensure these extremists don't injure or kill innocent people. Instead, the morning of the event Trump took to Twitter to only condemn Antifa. read more


Wednesday, August 07, 2019

The law that took effect July 1 prevents ammo purchases by customers at gun shops if they cannot show they have a registered firearm or are on a list of felons or severely mentally ill, thus are disqualified from possessing guns. read more


Comments

Regarding me being a "liar", I don't lie, I back most of my posts up with links.
Unlike you as well, I am not a rage-a-holic.
#29 | POSTED BY ANDREAMACKRIS

You hardly ever do that.

And when you do, they are usually out of date or don't say what you claim they do.

Case and Point: Your link to Mattis saying Obama's inept response to Cafe bombing threat emboldened Iran.

Mattis said this in 2013. This was after Obama fired him.
www.politico.com

2 years later "emboldened" Iran gave up their nuclear program in a deal with the US and our EU allies.

It wasn't until Trump broke the deal that Iran started disregarding it too.

There's a reason Mattis came out with a book now. He's been fired by TWO administrations now and needs the money.

But hey, if you think Mattis is right in going to war with Iran, we would love to hear our explanation!

Once again, this story is so stupid that it is hard to believe that it is a real thing. Quick question for you, does Trump benefit more from:
A.) Economy grows at 3% and real estate gains 10% (which would be the case as we have the highest rate of any industrial country currently), or
B.) Trump gains $850K from a 25bp drop in the fed rate?
Serious question. Now, I know most of you are poor and have a limited understanding of the economy outside of whatever nonsense MSNBC is spouting - but the answer is obvious.
I should also note that the ECB - that is the European version of the FED for your unwashed Dem voters - is basically holding rates at 0% which is driving interest rates negative. For Trump, he is doing the smart thing. With $20T in debt at a 2.5% (2018), that is $500B in each year just wasted on interest. If Trump were to get the FED to buy back the outstanding debt yielding 2.5% (pay market price and not call the debt), then re-issue long-dated bonds at 1% for 10 or 20 years, he would save $300B/year - that can buy a lot of free stuff the Dems love.
But, it seems like you would rather pay that $300B/year to the elites buying the Gov. debt (Goldman Sachs, Blackrock, etc) rather than actually have that money to spend on actual programs.
Again, your TDS is to the point that you are just embarrassing yourselves.
#4 | POSTED BY IRAGOLDBERG

Speaking of stupid...

"A.) Economy grows at 3% and real estate gains 10% (which would be the case as we have the highest rate of any industrial country currently), or
B.) Trump gains $850K from a 25bp drop in the fed rate?"

First, are you saying (b) means (a) can't happen? Because that's admitting Trump is an idiot and the Fed should ignore him.
Second, (b) doesn't mean (a) can't or won't happen. In fact, Trump thinks (b) will help (a) happen...even though he claims (a) will happen anyway and no recession is coming.
Third, no idea where you are getting 10% real estate gains when the average is about 3% in the US.
Fourth, GDP growth doesn't necessarily mean Trump is making more money.

I'm not poor. I'm rather rich. And you're an idiot.

BTW, the ECB's (and Japan's) use of no or negative interest rates has been universally panned now as economically backward. It actually kills the banking industry by reducing bank income (and future ability to loan by erasing bank liquidity) and forcing banks to lend recklessly (remember 2008?). It hasn't worked anywhere its been tried in fact.
The right leaning Forbes agrees:
www.forbes.com

So I have to ask, are you stupid or high?

Drudge Retort
 

Home | Breaking News | Comments | User Blogs | Stats | Back Page | RSS Feed | RSS Spec | DMCA Compliance | Privacy | Copyright 2019 World Readable