Trump Taking Credit Where None Is Due

[BigRedBuster]

 

[RedDenver]

1 hour ago, BigRedBuster said:

 

[BigRedBuster]

17 minutes ago, RedDenver said:

 

The whole concept around the comment is just plain idiotic. 

[BigRedBuster]

Fact-checking Trump's claims about an improved Department of Veterans Affairs

 

Yeah......not so much.

 

 

 

[BigRedBuster]

 

[knapplc]

Certainly Trump deserves some credit for maintaining Obama's jobs gains, but this is yet another time when he's taking credit for (at least) some things for which he shouldn't.

 

 

[Danny Bateman]

The real proof will be in the pudding a couple of years from now. Does the GPD growth go to the 4 or 5 percent Trump predicted he could easily make happen on the campaign trail?

I doubt it personally. I don't think the tax bill is everything they sold it as. Personally I feel like we may have just bought a few more years staving off an impending recession.

 

With any luck it hits right around the spring or summer of 2020.

[BigRedBuster]

3 minutes ago, dudeguyy said:

The real proof will be in the pudding a couple of years from now. Does the GPD growth go to the 4 or 5 percent Trump predicted he could easily make happen on the campaign trail?

I doubt it personally. I don't think the tax bill is everything they sold it as. Personally I feel like we may have just bought a few more years staving off an impending recession.

 

With any luck it hits right around the spring or summer of 2020.

 

I agree with your post...that we will not see the 4-5% trump promised he could do... Actually, I hope we don't.

 

But...about the bolded part.  Why do you think we have an impending recession coming up?  Was this something that was coming even before Trump took office?

 

I personally believe we have a stock market bubble that is going to burst at some point.  But.....I'm trying to decide how close we are to an actual recession.

Edited February 1, 2018 by BigRedBuster

[RedDenver]

8 minutes ago, BigRedBuster said:

 

I agree with your post...that we will not see the 4-5% trump promised he could do... Actually, I hope we don't.

 

But...about the bolded part.  Why do you think we have an impending recession coming up?  Was this something that was coming even before Trump took office?

 

I personally believe we have a stock market bubble that is going to burst at some point.  But.....I'm trying to decide how close we are to an actual recession.

Recessions sometimes follow stock market crashes, so that might happen depending on the type of market bubble (and lots of other factors).

 

EDIT: Here's an article about causes of recessions (stock market crash is one of the 7 major causes they list).

Edited February 1, 2018 by RedDenver

[BigRedBuster]

14 minutes ago, RedDenver said:

Recessions sometimes follow stock market crashes, so that might happen depending on the type of market bubble (and lots of other factors).

 

EDIT: Here's an article about causes of recessions (stock market crash is one of the 7 major causes they list).

I appreciate the article and I understand that a stock market crash can trigger a recession.  

 

My question was more about what of the other causes does he (or you) think have been lining up to cause a recession.

 

1)  High interest rates - don't see that happening.

2)  Stockmarket crash - covered that.

3)  Falling housing prices - why do you see that happening?

4)  Slowdown in manufacturing - why do you see that happening?

5)  Massive swindles - what do you see happening here?  We have had the Wells Fargo crap and that hasn't caused anything yet.

6)  Deregulation - This is possible.

7)  Wage - Price controls -  NOT happening.

8)  Slowdown after a war - Don't think we need to worry about that.

9)  Credit crunch - Any evidence of this coming on?

10)  Asset bubbles - What assets are ready to burst?

11)  Deflation - I just don't see that happening right now.

[TGHusker]

 

 

https://www.yahoo.com/news/trump-tells-gop-retreat-hes-ready-mount-rushmore-202916278.html

Orrin Hatch must be getting senile in his old age:

 

Quote

 

President Trump appeared to be in a jovial mood at a GOP retreat in West Virginia on Thursday, boasting about how his administration has “fulfilled far more promises than we’ve promised.” And without quite saying so himself, he claimed Sen. Orrin Hatch, R-Utah, once told him that he is “the greatest president in the history of our country.”

“And I said, ‘Does that include Lincoln and Washington?’” Trump recalled. “And he said, ‘Yes.’ I said, ‘I love this guy.’”

A spokesman for Hatch told a reporter for the Guardian newspaper that the senator has said Trump “can be” the greatest president ever to hold the office, but never said he “is” the greatest ever.

 

 

No exaggeration here. None at all   Humility is not one of Trump's strong points.

 

Quote

 

That was one of the greatest years in the history of politics,” Trump said. “We had a year that was unlike, I think, any.”

Trump then lauded himself for what he said were campaign promises kept, including the passage of tax reform, the repeal of Obamacare’s individual mandate and the lifting of a ban on drilling in Alaska’s Arctic National Wildlife Refuge, or “ANWR.” The latter two were provisions included in the GOP tax bill.

“We’ve fulfilled far more promises than we’ve promised,” the president said. “I call it promises plus.”

 

 

Weak leaders need their ego's stroked.  I guess he didn't feel the love from the Dems.

 

Quote

 

Trump did not mention the ratings at the retreat. He criticized Democrats for not clapping during his State of the Union address, particularly when he made a claim about African-American unemployment. Trump asserted that the unemployment rate for African-Americans is the lowest ever, but observers have pointed out that it has been declining for years.

“When I made that statement the other night, there was zero movement from the Democrats,” the president said. “They sat there stone cold, no smile, no applause. You would’ve thought on that one they would’ve at least clapped a little bit.”

 

 

[RedDenver]

41 minutes ago, BigRedBuster said:

I appreciate the article and I understand that a stock market crash can trigger a recession.  

 

My question was more about what of the other causes does he (or you) think have been lining up to cause a recession.

 

1)  High interest rates - don't see that happening.

2)  Stockmarket crash - covered that.

3)  Falling housing prices - why do you see that happening?

4)  Slowdown in manufacturing - why do you see that happening?

5)  Massive swindles - what do you see happening here?  We have had the Wells Fargo crap and that hasn't caused anything yet.

6)  Deregulation - This is possible.

7)  Wage - Price controls -  NOT happening.

8)  Slowdown after a war - Don't think we need to worry about that.

9)  Credit crunch - Any evidence of this coming on?

10)  Asset bubbles - What assets are ready to burst?

11)  Deflation - I just don't see that happening right now.

I think 2, 3, 6, and 10 are at least somewhat likely. 4 is still happening as it has been for the last 30 years, and 5 is already happening as you mentioned. 11 is less likely but possible as the US and the Eurozone are in a similar situation to what the Japanese economy did prior to their deflation in the late 80's (large elderly population, large consumer debt).

 

As for reasons:

2 - we already mentioned

3 - housing bubble looks likely especially in some of the larger markets (here in Denver the prices have been rising fast)

6 - already happened and the effects take some time to occur (good or bad)

10 - where has all the leverage from the financial crisis gone? Some saying car loans could be the next bubble, or payday lending, or probably something we don't see coming.

Edited February 1, 2018 by RedDenver

[Danny Bateman]

Cryptocurrencies are a good example of a bubble right now. That wouldn't really affect our economy much, though. Student debt would be another. 

 

My concerns are more about the business cycle. We can't be on an upward trend forever. Here is an op-ed I found that's fairly closely aligned with my worries. The bear market can't continue without a contracture or recession at some point.

 

Ultimately, the world economy & the business cycle is going to take a downturn at some point. I don't think the Trump administration's policy wizards have implemented strong enough economic policy to insulate us here from that. 

 

I'd add that I agree with you, BRB, that deregulation could put us back in another situation like we got into in 2008. If he actually initiates a trade war with China that, too, would be disastrous for our economy.

[RedDenver]

1 minute ago, dudeguyy said:

Cryptocurrencies are a good example of a bubble right now. That wouldn't really affect our economy much, though. Student debt would be another. 

How could I forget student debt! Nothing like a loan that there's no way to get out of paying back and primarily affecting the generation that's getting less real income than the previous ones. That's going to bite us in the ass at some point.

[Moiraine]

Has Trump ever watched a State of the Union address? Ever? Did he even know what it was before a few months ago?