Read more at http://www.channelnewsasia.com/news/world/trump-faces-fraught-end-to-tempestuous-year-9446900
28 Nov 2017 12:04PM
A defining moment - to defeat the "Boom and Bust" policies - that will bring disastrous consequences down the road for US Economy - and that will have a domino effect on World Evconomy.
-----
Posted on :- 22 Nov 2017
Ricky Lim ·
Singapore
Ronald Reagan economic policies - start the accumulation of massive debt for US.
"Reagan has tripled the Gross Federal Debt, from $900 billion to $2.7 trillion."
As of July 31 2017, the federal government’s total debt stands at $19.845 trillion. The nation’s debt is now bigger than its gross domestic product, which was an estimated $19.23 trillion.
Net interest payments on the debt are estimated to total $276.2 billion this fiscal year.
This is known as the "Boom and Bust" fiscal policies and financial policies - to reap immediate gratification to please the voters by "inflating economic growth" - but bring economic bust a few years down the road.
The world has experience cyclic "boom and bust" - because of such policies.
Now Trump want to emulate this irresponsible policies - and you say this is good.
Clinton and Obmama --- are the one that have implemented prudent and pragmatic economic policies - not Trump.
Like · Reply · Just now
Ricky Lim ·
Singapore
Ricky Lim ·
Singapore
Is Trump creating conditions for US to experience another Lehman Brothers collapse in the US financial sector?
The World financial system must be careful in investing in funds coming out from US - or else get caught in the Lehman Brothers 2 saga.
Like · Reply · Just now
Ricky Lim ·
Singapore
Trump drastic cuts in taxes, and boosting rampant spendings - is creating a ballooning fiscal deficit --- and increasing debts for US - and its future generation will have a hard time servicing the debt.
Together with this banking regulation - Trump is creating a condition for financial crisis or meltdown of the past.
Trump don't seems to care about the future - and bend on immeditate gratification.
World Economy and finacial institutions must be careful and watchful of what will come out from Trump financial and fiscal policies --- and not let it drag down in a domino effect of the past.
Like · Reply · Juvst now
Ricky Lim ·
Singapore
Trump don't seems to learn from the lesson of the past - or rather he is indifferent - because it will not affect him now.
The problem will surface later - where he may not even be around - and he couldn't care less.
Like · Reply · Just now
Ricky Lim ·
Singapore
In the past, financial crisis one after another is trigger by such policies - and has recently been ratified and regulation put in place - to prevent such cyclic eruption of financial crisis - after a few years - when it bust after boom.
Now Trump want ot reintroduce this "boom and bust" policies again - and stir the World financial system.
Like · Reply · Just now
ricky l
ricky l 2 seconds ago
Wonder how can a Country sustain trillion dollars of debt and need to service hundred and billions dollars of debt interest?
Will the Country even able to repay the debt?
Wonder by deregulating the banking sector, will banks and financial institutions again resort to risky investment and put all the investors and depositors money into big risk of default and run-on bank again.
Less
Reply
Ricky Lim ·
Singapore
Trump obviously have forgotten or try to forget the lessons learn from US past finanical crisis :-
(1) US taxpayers money of hundred and hundred billions of dollars are used to prop up US banks and finanical institutions like BOA, JP Morgan, Citibank, AIA, etc - when financial crisis hit from its sub-prime investments in toxic assets. ----- Now Trump want to dismantle the banking regulation - to protect its financial industries.
(2) US Treasury have to borrow trillions of dollars by selling bonds to China, Japan, Saudi - to fund its massive budget deficit. --- Now Trump want to cut its tax in huge percentage, boost its spendings and balloon its debt and widen its budget deficit.
(3) US Treasury have to pump prime its Economy ---- by printing US dollars to repay its debt. ----- Now Trump think that he can do this again if US Economy go into "cyclic boom and bust" cycle --- with Trump risky policies - for immediate gratification but no regards for the future US generations.
--- Can the World not be careful and watchful on what Trump try to do --- and trigger a domino effect on the World financial system in the near future?
Like · Reply · Just now
-----
Posted on :- 22 Nov 2017
Ricky Lim ·
Singapore
Ronald Reagan economic policies - start the accumulation of massive debt for US.
"Reagan has tripled the Gross Federal Debt, from $900 billion to $2.7 trillion."
As of July 31 2017, the federal government’s total debt stands at $19.845 trillion. The nation’s debt is now bigger than its gross domestic product, which was an estimated $19.23 trillion.
Net interest payments on the debt are estimated to total $276.2 billion this fiscal year.
This is known as the "Boom and Bust" fiscal policies and financial policies - to reap immediate gratification to please the voters by "inflating economic growth" - but bring economic bust a few years down the road.
The world has experience cyclic "boom and bust" - because of such policies.
Now Trump want to emulate this irresponsible policies - and you say this is good.
Clinton and Obmama --- are the one that have implemented prudent and pragmatic economic policies - not Trump.
Like · Reply · Just now
Ricky Lim ·
Singapore
Ricky Lim ·
Singapore
Is Trump creating conditions for US to experience another Lehman Brothers collapse in the US financial sector?
The World financial system must be careful in investing in funds coming out from US - or else get caught in the Lehman Brothers 2 saga.
Like · Reply · Just now
Ricky Lim ·
Singapore
Trump drastic cuts in taxes, and boosting rampant spendings - is creating a ballooning fiscal deficit --- and increasing debts for US - and its future generation will have a hard time servicing the debt.
Together with this banking regulation - Trump is creating a condition for financial crisis or meltdown of the past.
Trump don't seems to care about the future - and bend on immeditate gratification.
World Economy and finacial institutions must be careful and watchful of what will come out from Trump financial and fiscal policies --- and not let it drag down in a domino effect of the past.
Like · Reply · Juvst now
Ricky Lim ·
Singapore
Trump don't seems to learn from the lesson of the past - or rather he is indifferent - because it will not affect him now.
The problem will surface later - where he may not even be around - and he couldn't care less.
Like · Reply · Just now
Ricky Lim ·
Singapore
In the past, financial crisis one after another is trigger by such policies - and has recently been ratified and regulation put in place - to prevent such cyclic eruption of financial crisis - after a few years - when it bust after boom.
Now Trump want ot reintroduce this "boom and bust" policies again - and stir the World financial system.
Like · Reply · Just now
ricky l
ricky l 2 seconds ago
Wonder how can a Country sustain trillion dollars of debt and need to service hundred and billions dollars of debt interest?
Will the Country even able to repay the debt?
Wonder by deregulating the banking sector, will banks and financial institutions again resort to risky investment and put all the investors and depositors money into big risk of default and run-on bank again.
Less
Reply
Ricky Lim ·
Singapore
Trump obviously have forgotten or try to forget the lessons learn from US past finanical crisis :-
(1) US taxpayers money of hundred and hundred billions of dollars are used to prop up US banks and finanical institutions like BOA, JP Morgan, Citibank, AIA, etc - when financial crisis hit from its sub-prime investments in toxic assets. ----- Now Trump want to dismantle the banking regulation - to protect its financial industries.
(2) US Treasury have to borrow trillions of dollars by selling bonds to China, Japan, Saudi - to fund its massive budget deficit. --- Now Trump want to cut its tax in huge percentage, boost its spendings and balloon its debt and widen its budget deficit.
(3) US Treasury have to pump prime its Economy ---- by printing US dollars to repay its debt. ----- Now Trump think that he can do this again if US Economy go into "cyclic boom and bust" cycle --- with Trump risky policies - for immediate gratification but no regards for the future US generations.
--- Can the World not be careful and watchful on what Trump try to do --- and trigger a domino effect on the World financial system in the near future?
Like · Reply · Just now
Ricky Lim ·
Singapore
Analyst have computed that if Trump implement all his economic policies including his wall of America - it will add another $5 trillion debt to the $19.845 trillion in Trump short term in office.
And you say that Trump policies is damn good - or damn goon?
Wait till his children, grandchildren and descendants pay the massive debt accumulated by him for US.
Like · Reply · Just now
Ricky Lim · Singapore
Greece have to bite the bullet, go through extreme austerity -- to pay back its huge debt and emerge from near bankruptcy.
US with such unprecedented massive debt --- can do better?
And you now say what Trump is doing is "damn good"?
Like · Reply · 26 mins
Ricky Lim ·
Singapore
See this to learn a good lesson - about a good fundamental economic principles :-
Greece blows EU-IMF bailout targets away with strong budget performance
Reuters
By Lefteris Papadimas and George Georgiopoulos
ReutersApril 21, 2017
ricky l 10 seconds ago
The prudent fiscal budget - to ensure a balance budget - that have led to correction of the debt problem with belt tightening measures and a few years of pain --- maybe the correct move.
For now on, Greece must be prudent in ensuring sustainable fiscal policy and growth generation policy that are sustainable.
ricky l
Reply 00
ricky l 29 seconds ago
Posted on :-
Feb 1, 2015 9:08 PM
Ricky Lim · Singapore
There are few things need to be put right :-
(1) Economic fundamental must be put right first - and thereafter create employment. If economic fundamental is not on sound footing - all patch work will just be a temporary patch and does not build a strong foundation for economic growth. Right economic fundamental - refer to right fiscal policies, right monetary policies, right investment policies, right balance of payment etc.
(2) Corruption must be eliminated - to have sound financial system
(3) Debt must be honored - and if have problem paying back - should restructured the debt for longer term repayment. Otherwise, no one will provide further loan if debt can be dishonoured.
(4) Can consider pledging something of value to creditors - like carve out a piece of land as collateral to creditor for say 100 year for creditors to invest in - until loan is repaid or to get further loan - until the country has successfully repay all the debt, get the economic fundamental in place and create sufficient employment for its citizen.
Reply · Like
Less
ricky l00
ricky l 9 seconds ago
Critics in the last few years criticise the above suggestions - has caused undue miseries to Greece and kill Greece economic growth and kill job creation.
Now the above suggestions turned out to be the right things to do.
What is right in the micro-level - also means that it is right for the macro-level.
Prudent fiscal policies with the objectives to create growth and job creation is the right way to go.
Less
ricky l00
ricky l 29 seconds ago
Rampant Spending tommorow's money and leave the burden to future generations and descendants to pick up the bits = are wrong.
Rampant Spending based on big borrowing, heavy debts (especially external debts) = are wrong.
Rampant Spending with no objective of investing into the future = are wrong.
Rampant Spending based on over-generous welfare benefits that are not sustainable and do not encourage working = are wrong.
Less
00
ricky l
ricky l 9 seconds ago
Well done Greece !
You have make it !
00
Like · Reply · Just now
Singapore
Analyst have computed that if Trump implement all his economic policies including his wall of America - it will add another $5 trillion debt to the $19.845 trillion in Trump short term in office.
And you say that Trump policies is damn good - or damn goon?
Wait till his children, grandchildren and descendants pay the massive debt accumulated by him for US.
Like · Reply · Just now
Ricky Lim · Singapore
Greece have to bite the bullet, go through extreme austerity -- to pay back its huge debt and emerge from near bankruptcy.
US with such unprecedented massive debt --- can do better?
And you now say what Trump is doing is "damn good"?
Like · Reply · 26 mins
Ricky Lim ·
Singapore
See this to learn a good lesson - about a good fundamental economic principles :-
Greece blows EU-IMF bailout targets away with strong budget performance
Reuters
By Lefteris Papadimas and George Georgiopoulos
ReutersApril 21, 2017
ricky l 10 seconds ago
The prudent fiscal budget - to ensure a balance budget - that have led to correction of the debt problem with belt tightening measures and a few years of pain --- maybe the correct move.
For now on, Greece must be prudent in ensuring sustainable fiscal policy and growth generation policy that are sustainable.
ricky l
Reply 00
ricky l 29 seconds ago
Posted on :-
Feb 1, 2015 9:08 PM
Ricky Lim · Singapore
There are few things need to be put right :-
(1) Economic fundamental must be put right first - and thereafter create employment. If economic fundamental is not on sound footing - all patch work will just be a temporary patch and does not build a strong foundation for economic growth. Right economic fundamental - refer to right fiscal policies, right monetary policies, right investment policies, right balance of payment etc.
(2) Corruption must be eliminated - to have sound financial system
(3) Debt must be honored - and if have problem paying back - should restructured the debt for longer term repayment. Otherwise, no one will provide further loan if debt can be dishonoured.
(4) Can consider pledging something of value to creditors - like carve out a piece of land as collateral to creditor for say 100 year for creditors to invest in - until loan is repaid or to get further loan - until the country has successfully repay all the debt, get the economic fundamental in place and create sufficient employment for its citizen.
Reply · Like
Less
ricky l00
ricky l 9 seconds ago
Critics in the last few years criticise the above suggestions - has caused undue miseries to Greece and kill Greece economic growth and kill job creation.
Now the above suggestions turned out to be the right things to do.
What is right in the micro-level - also means that it is right for the macro-level.
Prudent fiscal policies with the objectives to create growth and job creation is the right way to go.
Less
ricky l00
ricky l 29 seconds ago
Rampant Spending tommorow's money and leave the burden to future generations and descendants to pick up the bits = are wrong.
Rampant Spending based on big borrowing, heavy debts (especially external debts) = are wrong.
Rampant Spending with no objective of investing into the future = are wrong.
Rampant Spending based on over-generous welfare benefits that are not sustainable and do not encourage working = are wrong.
Less
00
ricky l
ricky l 9 seconds ago
Well done Greece !
You have make it !
00
Like · Reply · Just now
Trump faces fraught end to tempestuous year
28 Nov 2017 12:04PM
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WASHINGTON: President Donald Trump returned to work at a festively decorated White House this week, facing a formidable to-do list that will decide whether his Christmas is filled with political misery or cheer.
After spending much of November in East Asia and Florida, Trump returned to marbled corridors bedecked with garlands and graced by ballerinas but also chilled by the prospect of a daunting few weeks ahead.
December sees deadlines that, if missed, could see the US government hurtle towards a shutdown and even a technical default in the new year.
The debt ceiling and government budget will be on the agenda when Trump meets congressional leaders from both parties on Tuesday (Nov 28).
The meeting comes against the backdrop of a fiercely contested December 12 election in Alabama, which will be a bellwether for Trump's support and could tilt control of the Senate away from Republicans.
Republican officials admit that controversies may split right wing voters, handing an unlikely victory to Democrats in that deeply Republican state.
Trump has thrown his weight behind party candidate Roy Moore, who has refused to withdraw despite facing a string of allegations that he molested or sexually assaulted teenage girls when he was in his 30s.
The White House says Trump will not campaign with Moore, but he has questioned the allegations and urged voters to oppose Democrat Doug Jones.
But some Republicans plan to vote for a "write-in candidate" whose name is not on the ballot.
DEATH OR TAXES
Even before that Trump's first task will be to pass tax cuts, which Republicans see as absolutely vital to keep voters and donors happy.
"It will be the biggest tax reduction in the history of our country," Trump said, expressing confidence Monday.
"It will bring jobs, it will bring a lot of income coming into the country, buying product, et cetera."
With the party in control of the White House and both chambers of Congress, the task should be straightforward. But little is straightforward in Washington these days.
The administration's chief salesmen, Treasury Secretary Steve Mnuchin and top economic aide Gary Cohn - both multimillionaires - have struggled to convince the public that the tax cut will help middle class families, as Trump insists.
With the details still being thrashed out, a Harvard-Harris Poll showed a majority of voters opposed, believing it will hurt them financially.
Democrats have been busy trying to portray the proposals as good for big business but bad for ordinary Americans.
The non-partisan Tax Policy Center estimates nine per cent of taxpayers would pay more in 2019, rising to 50 per cent by 2027.
Half a dozen Republican senators have publicly expressed doubts about the tax cut plan. The House has already passed its own version.
Some are concerned that the proposals would increase the national debt by around US$1.4 trillion by 2027, according to the non-partisan Congressional Budget Office.
The White House argues that the cuts will boost growth and this in turn will increase tax revenue, although most economists disagree.
With the slightest of Senate majorities, Trump cannot lose more than two Republican votes.
Having so far failed to pass health care, immigration or infrastructure reforms, he faces a party revolt if he cannot make tax cuts law.
Top Republican Paul Ryan said the country was at "a generational defining moment."
Trump will travel to Missouri on Wednesday to make the case, and to heap pressure on Democratic Senator Claire McCaskill who faces a tough reelection fight.
Source: AFP/zl
Read more at http://www.channelnewsasia.com/news/world/trump-faces-fraught-end-to-tempestuous-year-9446900
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