Goldman Sachs: The fiscal outlook for the US 'is not good'

[AncientMuse]

Goldman-Sachs. DIdn't they have to get bailed out by the tax payer a few years back when they seriously missread the market?

No.

That would be the banksters (such as Goldman Sachs) who took advantage of the slashed commercial and investment banking regulatory controls that needed the bailouts. Nothing to do with missreading the market and everything to do with corrupt greed.

Slashing regulations to banking and corporate practices is one of those "trickle down reaganomics" things I've been talking about.

Which is why Canada didn't suffer as bad as the US's self-inflicted mortgage bubble burst.... we've kept our regulations in place thereby making it far more difficult for Canadian banksters to get away with playing the subprime mortgage game as bad as the US did.

 

[mentalfloss]

Yup.

Cutting red tape only fukked the US over in the end.

 

[Bar Sinister]

Goldman-Sachs. DIdn't they have to get bailed out by the tax payer a few years back when they seriously missread the market?

Yes.


Secrets and Lies of the Bailout


https://www.rollingstone.com/politics/news/secret-and-lies-of-the-bailout-20130104

 

[Hoid]

I find it food for thought that GM (and quite a few other companies) reported a bad quarter even given the one time tax write down.

 

[Jinentonix]

Poor conbots just absolutely loathe it when the economy does well.

Guess they just want to live in squalor.

*shrugs*

Poor progtards just absolutely HATE reality when it comes to anything.

Guess they just want to wallow in ignorance.

 

[taxslave]

Isn't it interesting how the Trumpsters like Jin immediately attempt to deflect attention away from another Trump failure to someone else, in this case Trudeau. Of course this completely ignores the fact that the policies of the Canadian government have nothing to do with Trump's mismanagement of another aspect of the US economy.

WHere has Trump failed? The US economy is doing well and cheap slave labour made imports going up in price more jobs are created with made in USA products.

 

[Jinentonix]

Isn't it interesting how the Trumpsters like Jin immediately attempt to deflect attention away from another Trump failure to someone else, in this case Trudeau.

Um, hey f*cknuts? Look at the OP. Who mentioned Trudeau first? Yeah, that's right. Now you can f*ck off and quit being a whiny bitch.

Isn't it interesting how so many leftard Canadians are sooooo concerned about what's going on in the US to the point they'll ignore what's going on up here. Unless of course it confirms their mental midget biases.

 

[Twin_Moose]

Like I said:

A combination of keynesian, classical, and supply/demand is what works best.

You trying to pick apart each model individually serves no purpose and has no relation to what I said. We all know that any one particular model in and of itself has pros and cons.

Stagnant wages diverging further and further away from rising inflation and cost of living rates is what forces people to demand lower priced goods, out of necessity. Entities like Walmart and Dollar stores recognized the trend and jumped on the gravy train.

No clue who this Skippy person is or what an edumacation is... but as an accountant (now retired) I helped multi-national corporations, mid-sized private businesses, and small mom and pop operations try to stay afloat in an ever-changing global economic world where mergers and cartel monopolies of crony capitalism are now the dessert du jour. So yes, I guess you could say I helped the business world get their cake and eat it too.

My bad.

So you are a fan of today's economy then, which is a combination of all three, exacerbated by the consumer insatiable appetite for bargain prices.

 

[Curious Cdn]

So you are a fan of today's economy then, which is a combination of all three, exacerbated by the consumer insatiable appetite for bargain prices.

People who used to make things in North America are now being paid less for service sector jobs and they need to pay less for their consumer goods, so they now come from cheap labour places. It's a downward spiral, trying to compete with the Third World.

 

[OpposingDigit]

The auto sector is doing okay because they are giving them away at close to cost and financing is made easy with low rates as well. They are offering rebates and so many other incentives that Canada Revenue is taxing the rebates given.

 

[Curious Cdn]

The auto sector is doing okay because they are giving them away at close to cost and financing is made easy with low rates as well.

Trump might just shut that sector down ... certainly in Canada and possibly in the US as "collateral damage" of his inept carpet bombing.

 

[OpposingDigit]

The only money making and necessary segment of the auto sector is anything required for the military. Such as axels, engines and transmissions. That is why it was bailed out previously.

 

[Twin_Moose]

People who used to make things in North America are now being paid less for service sector jobs and they need to pay less for their consumer goods, so they now come from cheap labour places. It's a downward spiral, trying to compete with the Third World.

I agree, also the pressure to make money for the investor's, it's about everybody's bottom line. That's why I support Trump's efforts to return manufacturing back to the States, is he going to get it all back? Impossible, can he get enough back? Possibly. I understand his strong arm tactics trying to achieve it. I just don't care for his rhetoric trying to achieve it, he has the upper hand just quit bragging about it and not expect push back against it. IMO

 

[Curious Cdn]

I agree, also the pressure to make money for the investor's, it's about everybody's bottom line. That's why I support Trump's efforts to return manufacturing back to the States, is he going to get it all back? Impossible, can he get enough back? Possibly. I understand his strong arm tactics trying to achieve it. I just don't care for his rhetoric trying to achieve it, he has the upper hand just quit bragging about it and not expect push back against it. IMO

The investors are doing just fine with their overseas investments and most of the big ones would see Trump as the disruptive enemy.

 

[OpposingDigit]

China is the only market remaining for cars. Everybody and their dog wants a piece of Chinese market share. Maybe a few Harley's for India. The American auto sector can never make the profits it is used to without globalization. It can remain as a blue collar job, but not the same wages and not even close to the profit they can make with global markets.

 

[Jinentonix]

The auto sector is doing okay because they are giving them away at close to cost and financing is made easy with low rates as well. They are offering rebates and so many other incentives that Canada Revenue is taxing the rebates given.

Are you sure it's Revenue Canada and not the province making you pay taxes on what the car was actually worth? I know that in Ontario you get gooned for taxes based on what the vehicle is worth, not what you paid for it.

 

[OpposingDigit]

It could be Provincial tax and not Federal. I can't recall exactly what I read a few years ago. I just know that rebates and stuff like that are being taxed.

 

[Curious Cdn]

Are you sure it's Revenue Canada and not the province making you pay taxes on what the car was actually worth? I know that in Ontario you get gooned for taxes based on what the vehicle is worth, not what you paid for it.

"Gooned" is the word. Then we get gooned again by the private insurers.

 

[Twin_Moose]

China is the only market remaining for cars. Everybody and their dog wants a piece of Chinese market share. Maybe a few Harley's for India. The American auto sector can never make the profits it is used to without globalization. It can remain as a blue collar job, but not the same wages and not even close to the profit they can make with global markets.

They want a piece of it, but China is the most protected market in the world, that's why they have such large trade surpluses.

 

[Curious Cdn]

They want a piece of it, but China is the most protected market in the world, that's why they have such large trade surpluses.

Wait until they start exporting $12,000 cars that work and pass the crash tests. It's only a matter of time before the Chinese sort that out.