Conquer Club

“Someone pointed us to Hometown International (HWIN), which owns a single deli in rural New Jersey ... HWIN reached a market cap of $113 million on February 8. The largest shareholder is also the CEO/CFO/Treasurer and a Director, who also happens to be the wrestling coach of the high school next door to the deli,” Einhorn said in a letter to clients published Thursday.

https://www.cnbc.com/2021/04/15/theres- ... arket.html

Dukasaur wrote:I think you meant to say "the economy which Biden has inherited from the Fat Grifter." And yes, it's precarious. Luckily I don't think it matters.

saxitoxin wrote:

Dukasaur wrote:I think you meant to say "the economy which Biden has inherited from the Fat Grifter." And yes, it's precarious. Luckily I don't think it matters.

For four years we heard Trump did nothing ... he inherited the economy from Obama. Now that it may implode, Trump suddenly did everything! LMAO.

After the failure of the Bay of Pigs, John F. Kennedy told a journalist that, “victory has 100 fathers and defeat is an orphan.” It’s an old idea. The historian Tacitus (who happened to be fascinated by and a peer of Seneca), once said, “This is an unfair thing about war: victory is claimed by all, failure to one alone.”

saxitoxin wrote:

Dukasaur wrote:I think you meant to say "the economy which Biden has inherited from the Fat Grifter." And yes, it's precarious. Luckily I don't think it matters.

For four years we heard Trump did nothing ... he inherited the economy from Obama. Now that it may implode, Trump suddenly did everything! LMAO.

Dukasaur wrote:From time to time, there have been libertarians who have tried to claim Trump as their own. It seems absurd that the most autocratic man ever to inhabit the White House could be seen as a libertarian, but the phenomenon exists, maybe through a combination of wishful thinking and cognative dissonance.

In any case, Reason Magazine, something I used to subscribe to way back in my libertarian days, has published a fairly strong assessment of that claim.

The essay is too long to be reasonably condensed into a forum post, so I'm going to break it up into three.

https://reason.com/2020/10/04/the-case-against-trump-donald-trump-is-an-enemy-of-freedom

Part One: The Trillion-Dollar Tax

The Trillion-Dollar Tax

"Keep your eye on one thing and one thing only: how much government is spending," economist Milton Friedman famously said during the Carter administration. "Because that's the true tax."

Under Trump's signature, even before the coronavirus, the sticker price on that annual levy was jacked up by almost $1 trillion.

Federal spending under Barack Obama went from $2.98 trillion in George W. Bush's last full fiscal year of 2008 to $3.52 trillion in the stimulus-weighted fiscal year of 2009, an increase for which Obama and the Democratic-controlled 111th Congress deserve the lion's share of responsibility. Since the 44th president's last full fiscal year of 2016 saw expenditures of $3.85 trillion, we can say that during his two terms of office—which included a major federal response to an economic crisis—annual spending went up by around $900 billion.

Trump matched that increase in just one term, before his own crisis hit.

Fiscal 2017 featured spending of $3.98 trillion, with most of the $140 billion increase over the previous year coming under Trump's sharpie. Then things really took off—$4.11 trillion in 2018, $4.45 trillion in 2019, and a whopping $4.79 trillion destination at the halfway point of fiscal 2020. And then came the pandemic.

Discretionary spending—meaning that part of the budget (roughly one-third) requiring explicit congressional approval, as opposed to "mandatory" items such as Social Security, Medicare, and Medicaid—never topped $1.2 trillion during Obama's second term. Trump's wholly owned, pre-virus budgets saw the discretionary portions rise from $1.28 trillion to $1.36 trillion to $1.44 trillion.

tl:dr version: Trump profligate spending has made a mockery of Republican claims to conservatism. Lest anyone be confused, it is reiterated several times that this is not counting 2020; these are pre-pandemic numbers. In his first year alone, Trump increased spending more than Obama had increased it over his entire eight years.

Dukasaur wrote:NOVEL CLIPPED

(a) The economy was awful under Trump and it was thanks to Trump.
(b) The economy was great under Trump and it was thanks to Obama.

Sackett58 wrote:Here, enjoy the analysis.
https://www.businessinsider.com/charts- ... r-levels-9

- Giving a corporate advertiser "limited editorial control" over its news content (reported by Columbia Journalism Review)
- Allowing reporters to take junkets paid for by sources (reported by the Columbia Journalism Review which described it as a "serious ethical problem")
- Publishing a factually false story about Apple (reported by Ryan Holiday in his book Trust Me, I'm Lying: Confessions of a Media Manipulator[page 58]),
- Publishing a factually false story about Edward Snowden (reported by The Intercept),
- Requiring its own reporters not to report negatively on the outlet itself (reported by The Daily Beast)
- A journalistic ethos for dubious "churn 'n burn" style journalism described as creating the potential for "fake news sites frequently trick[ing]" it (reported by the Columbia Journalism Review)
- Questionable ethics and journalistic credentials of editorial leadership - including the outlet's editorial head who is serving a lifetime ban from securities trading over fraud allegations
- A scientifically demonstrated tendency to use clickbait headlines
- Joining The Daily Mail as one of only two outlets who published a sensationalist and potentially fake headline about leaked documents (reported by PolitiFact)

saxitoxin wrote:

Sackett58 wrote:Here, enjoy the analysis.
https://www.businessinsider.com/charts- ... r-levels-9

Sorry, I don't read corporate media tabloid disinfo blogs that don't believe in Science.

Business Insider is known for:

- Giving a corporate advertiser "limited editorial control" over its news content (reported by Columbia Journalism Review)
- Allowing reporters to take junkets paid for by sources (reported by the Columbia Journalism Review which described it as a "serious ethical problem")
- Publishing a factually false story about Apple (reported by Ryan Holiday in his book Trust Me, I'm Lying: Confessions of a Media Manipulator[page 58]),
- Publishing a factually false story about Edward Snowden (reported by The Intercept),
- Requiring its own reporters not to report negatively on the outlet itself (reported by The Daily Beast)
- A journalistic ethos for dubious "churn 'n burn" style journalism described as creating the potential for "fake news sites frequently trick[ing]" it (reported by the Columbia Journalism Review)
- Questionable ethics and journalistic credentials of editorial leadership - including the outlet's editorial head who is serving a lifetime ban from securities trading over fraud allegations
- A scientifically demonstrated tendency to use clickbait headlines
- Joining The Daily Mail as one of only two outlets who published a sensationalist and potentially fake headline about leaked documents (reported by PolitiFact)

However, I respect your right to read -- and have your thoughts molded by -- corporate media tabloid disinfo blogs that don't believe in Science.

Sackett58 wrote:

saxitoxin wrote:

Sackett58 wrote:Here, enjoy the analysis.
https://www.businessinsider.com/charts- ... r-levels-9

Sorry, I don't read corporate media tabloid disinfo blogs that don't believe in Science.

Business Insider is known for:

- Giving a corporate advertiser "limited editorial control" over its news content (reported by Columbia Journalism Review)
- Allowing reporters to take junkets paid for by sources (reported by the Columbia Journalism Review which described it as a "serious ethical problem")
- Publishing a factually false story about Apple (reported by Ryan Holiday in his book Trust Me, I'm Lying: Confessions of a Media Manipulator[page 58]),
- Publishing a factually false story about Edward Snowden (reported by The Intercept),
- Requiring its own reporters not to report negatively on the outlet itself (reported by The Daily Beast)
- A journalistic ethos for dubious "churn 'n burn" style journalism described as creating the potential for "fake news sites frequently trick[ing]" it (reported by the Columbia Journalism Review)
- Questionable ethics and journalistic credentials of editorial leadership - including the outlet's editorial head who is serving a lifetime ban from securities trading over fraud allegations
- A scientifically demonstrated tendency to use clickbait headlines
- Joining The Daily Mail as one of only two outlets who published a sensationalist and potentially fake headline about leaked documents (reported by PolitiFact)

However, I respect your right to read -- and have your thoughts molded by -- corporate media tabloid disinfo blogs that don't believe in Science.

Let's try some other sources then. MarketWatch which tends to be on the Right with opiniated columns and are High on factual reporting. This on the budget deficit.
https://www.marketwatch.com/story/trump ... 1599669921

Lets use Forbes for the trade deficit since they tend to be on the right.
https://www.forbes.com/sites/chuckjones ... c504655f39

saxitoxin wrote:... that will only take one strong breeze to collapse.

Dark days are ahead.

The $100 million deli ---

“Someone pointed us to Hometown International (HWIN), which owns a single deli in rural New Jersey ... HWIN reached a market cap of $113 million on February 8. The largest shareholder is also the CEO/CFO/Treasurer and a Director, who also happens to be the wrestling coach of the high school next door to the deli,” Einhorn said in a letter to clients published Thursday.

https://www.cnbc.com/2021/04/15/theres- ... arket.html

Hometown International — that odd, publicly traded company with a market capitalization of more than $100 million despite owning just one small New Jersey deli — has announced plans to merge with Makamer Holdings, a private bioplastics start-up firm.

Manoj Jain, the founder of Maso Capital in Hong Kong, which is a major investor in Hometown International, declined to comment through a spokesman.

https://www.cnbc.com/2022/04/01/new-jer ... erger.html

saxitoxin wrote:UPDATE:

Hometown International — that odd, publicly traded company with a market capitalization of more than $100 million despite owning just one small New Jersey deli — has announced plans to merge with Makamer Holdings, a private bioplastics start-up firm.

Manoj Jain, the founder of Maso Capital in Hong Kong, which is a major investor in Hometown International, declined to comment through a spokesman.

https://www.cnbc.com/2022/04/01/new-jer ... erger.html

Dukasaur wrote:

saxitoxin wrote:UPDATE:

Hometown International — that odd, publicly traded company with a market capitalization of more than $100 million despite owning just one small New Jersey deli — has announced plans to merge with Makamer Holdings, a private bioplastics start-up firm.

Manoj Jain, the founder of Maso Capital in Hong Kong, which is a major investor in Hometown International, declined to comment through a spokesman.

https://www.cnbc.com/2022/04/01/new-jer ... erger.html

I'd rather have pastrami than a Ford Bronco.

mookiemcgee wrote:

Dukasaur wrote:

saxitoxin wrote:UPDATE:

Hometown International — that odd, publicly traded company with a market capitalization of more than $100 million despite owning just one small New Jersey deli — has announced plans to merge with Makamer Holdings, a private bioplastics start-up firm.

Manoj Jain, the founder of Maso Capital in Hong Kong, which is a major investor in Hometown International, declined to comment through a spokesman.

https://www.cnbc.com/2022/04/01/new-jer ... erger.html

I'd rather have pastrami than a Ford Bronco.

I have the new Bronco... overrated, especially compared to a high quality pastrami.

saxitoxin wrote:

mookiemcgee wrote:

Dukasaur wrote:

saxitoxin wrote:UPDATE:

Hometown International — that odd, publicly traded company with a market capitalization of more than $100 million despite owning just one small New Jersey deli — has announced plans to merge with Makamer Holdings, a private bioplastics start-up firm.

Manoj Jain, the founder of Maso Capital in Hong Kong, which is a major investor in Hometown International, declined to comment through a spokesman.

https://www.cnbc.com/2022/04/01/new-jer ... erger.html

I'd rather have pastrami than a Ford Bronco.

I have the new Bronco... overrated, especially compared to a high quality pastrami.

If it's not electric then you're driving with Putin, according to the Vice Presidentress.

The make of car I drive is the #1 choice of middle aged Lesbians. If you can't guess it on your first try it proves you don't know anything about Lesbians.

Dukasaur wrote:

saxitoxin wrote:

mookiemcgee wrote:

Dukasaur wrote:

saxitoxin wrote:UPDATE:

Hometown International — that odd, publicly traded company with a market capitalization of more than $100 million despite owning just one small New Jersey deli — has announced plans to merge with Makamer Holdings, a private bioplastics start-up firm.

Manoj Jain, the founder of Maso Capital in Hong Kong, which is a major investor in Hometown International, declined to comment through a spokesman.

https://www.cnbc.com/2022/04/01/new-jer ... erger.html

I'd rather have pastrami than a Ford Bronco.

I have the new Bronco... overrated, especially compared to a high quality pastrami.

If it's not electric then you're driving with Putin, according to the Vice Presidentress.

The make of car I drive is the #1 choice of middle aged Lesbians. If you can't guess it on your first try it proves you don't know anything about Lesbians.

Subaru.

And I'd buy one too. Must be because I eat so much pussy.