I am just wondering what people think will happen to the economy after the election? I don't want to talk about the election or results but I am guessing whoever gets in it will affect the economy in some way not just in the US but around the world so just wondering if people thing the economy will improve or not??
I know they are saying here in australia our inflation rate is the lowest it has been in 3.5 years so hoping it continues downwards as does interest rates but I know the election will affect our economy in some way...just don't know how much since we are close allies.
November 6th, 2024 at 07:07 am 1730876833
He also boasted that he was "The Tariff Man", entering an economic tussle with China. Unfortunately, this leads to overall increases in prices for consumer goods. The goal of tariffs is to help insulate domestic businesses from foreign competition, but whether it is effective or not, and how much so, remains controversial.
Trump's Project 2025 is also laying the groundwork away from meritocracy, and more towards nepotism when it comes to key government positions. Having worked in federal government before, I have seen small but noticeable ripples of this throughout government jobs and positions.
I think what worries me the most is what he will end up doing with NATO and Ukraine, losing the grip on the tenuous alliance we have in Europe, and how that may impact the Asian Pacific as well, which as you know includes Australia.
Back to the economy, the majority concensus is that Trump will more likely to cause a bigger national deficit in the end, rather than reducing it.
Bottom line is, no, I don't expect the US economy to improve under his leadership.
November 6th, 2024 at 07:32 am 1730878355
November 7th, 2024 at 09:02 am 1730970122
November 7th, 2024 at 09:04 pm 1731013458
November 8th, 2024 at 12:37 am 1731026274
With lower revenues, we are going to see a further explosion of the US federal debt. This year, for the first time in history, payments on the debt exceeded our military spending. This is due to things that both Trump and Biden did. There will be pressures to cut spending and Elon Musk has promised short-term hardships in return for long-term prosperity. All I personally can see is fiscal pain ahead for the next several years. But we'll have a Wall Street bubble first before Trump is in office and things start to change.
Like Tabs, I am in dread about the next 4 years.
November 8th, 2024 at 07:27 am 1731050878
Now both parties are about spending on what they want when they are in power and to hell with the deficit and anything else. The motto should "take as much as you can, when you can."
November 10th, 2024 at 02:20 am 1731205200
November 13th, 2024 at 12:22 pm 1731500567
Under the first Trump administration, I paid more in taxes, and my salary did not increase.
I’m just hoping that there is less chaos. Only time will tell