The Trump Economy

[Nebfanatic]

1 hour ago, BigRedBuster said:

 

People buying into the Trump pump. GDP is slowing 2.3% growth last year, 1.9% growth predicted this year. Wage gap increasing at a phenomenal rate, increasing number of Americans who don't have 400$ to spare for an emergency. The economy is not doing as well as Trump makes it out to be but people are buying that he is.

[BigRedBuster]

10 minutes ago, Nebfanatic said:

People buying into the Trump pump. GDP is slowing 2.3% growth last year, 1.9% growth predicted this year. Wage gap increasing at a phenomenal rate, increasing number of Americans who don't have 400$ to spare for an emergency. The economy is not doing as well as Trump makes it out to be but people are buying that he is.

You're right.  The economy is doing well, but not anything like Trump wants you to believe.

 

So, 35-40% of Americans are going to believe whatever comes out of his mouth.  Their income could be lower now and they would still cheer and praise the dear leader for making them great again.  35-40% of Americans are going to believe everything is horrible no matter what as long as he's in office (things are bad, but the economy is good).

 

That leaves 20-30% of Americans that are in the middle and probably are more willing to actually think about it.

Now...to be totally honest?  If I took politics totally out of this and was asked this question...I would have to say yes, I'm better off.  October 2018 - February 2019 SUCKED.  We had the beginning of the trade wars affecting us and the weather last winter was horrible for business in many industries.  This year, we don't have that.  The trade fears are not as bad and the weather has been actually pretty good.

 

Problem is, that has more to do with how Trump negatively affected us last year than how he has positively affected us this year.

[Nebfanatic]

https://www.theatlantic.com/ideas/archive/2020/02/great-affordability-crisis-breaking-america/606046/

 

A good article on why the great economy isn't so great after all

[BigRedBuster]

I would love to be a fly on the wall when he sees this. 
 

[ZRod]

That's a terrible comparison though... Obama basically had nowhere to go but up after his first few years. He didn't create the mess but he reaped the benefit of being on the back end of it. 

 

If by some unfortunate circumstance Trump had 8 years that might be a more appropriate comparison.

[BigRedBuster]

2 minutes ago, ZRod said:

That's a terrible comparison though... Obama basically had nowhere to go but up after his first few years. He didn't create the mess but he reaped the benefit of being on the back end of it. 

 

If by some unfortunate circumstance Trump had 8 years that might be a more appropriate comparison.

I can somewhat agree with that. 
 

However, when I talk to a Trumper, they claim that Trumps economy and market is to much better than anything Obama ever did at any point of his presidency. 
 

Wrong. 

[ZRod]

@BigRedBuster I get it. For us rational folk it kind of seems like a dumb comparison. On Reddit saw the percent gains of the stock market in the first 4 years for each president since Regan. Clinton and Regan look amazing, and Bush looks like trash, but Bush also inherited the dot com bubble and such.

[TGHusker]

David Stockton tees off on Trump, Dems and 30 years of easy money policy by the Fed that will result in the 'Turbulent 20s"

Stockton never misses an opportunity for doom and gloom and he is at his best here for sure.  However, he also attacks

the Mueller investigation while he himself attacks Trump's domestic policies and the adding to the swamp not draining it. 

A long op-ed wt a small portion copied below.  

https://www.zerohedge.com/markets/stockman-next-comes-turbulent-twenties

 

Quote

 

Still, just because Donald Trump targeted the symptoms correctly that doesn’t mean he had a plan to fix the American economy or the skills and know-how to move the turgid, essentially paralyzed, machinery of the Federal government constructively forward.

In fact, the mainstream media has the whole story wrong. The Donald is not remotely the force of nature he’s been made to seem by the Trump-obsessed journalists and talking heads.

To the contrary, he’s actually a political flyweight, megalomaniacal incompetent and bile-ridden bully who stumbled into the Oval Office against all odds; and then lucked-out a second time by riding high on the final three-year crest of a deeply impaired and unsustainable economic recovery and monumental stock market bubble.

And here is where experience comes in. Since starting in Washington as a legislative assistant in 1970, we have seen every business cycle and President up close and personal.

So we know that the Donald committed the most egregious rookie mistake in the history of the American presidency.

That is, he insouciantly embraced a financial bubble that was destined to crash and took ownership of a struggling, geriatric business cycle expansion that had “recession ahead” written all over its forehead.

After all, the Donald was sworn in during month #90 of what was already the third longest business expansion in American history. It is now month #126 and it will be month #138 when his first term ends.

Here’s the thing. We are already at a point never, ever reached before.

Even the tech boom of the 1990s—previously the longest ever cycle—ended in recession during month #119, and back then there were plenty of tailwinds to keep it going.

Those year 2000 tailwinds, of course, have now become ferocious 2020s headwinds.

Europe is rolling over into recession. The Red Ponzi is floundering under its massive load of $40 trillion of debt and staggering malinvestments.

And the US economy is imperiled by $74 trillion of public and private debt and egregious Wall Street bubbles whose days are clearly numbered.

Moreover, recessions have not been outlawed by the economic gods and there are overwhelming odds that the next one will hit sometime soon as the 2020s unfold.

And when it does, Wall Street, the US economy and the Donald’s fantasy of MAGA will come tumbling down with it.

 

Quote

 

At the same time, it should be crystal clear by now that Trump has no real program to restore domestic prosperity and that he has actually made matters inestimably worse with his four misbegotten wars on the American economy.

We are referring to the above referenced Trade War on domestic consumers; Border War on needed immigrant labor; political war on the Fed when it was belatedly trying to normalize; and what amounts to a war on the nation’s solvency embedded in the Donald’s runaway additions to the soaring national debt.

As to the “undrainable swamp”, it should never be forgotten that its deep-end lies on the Pentagon side of the Potomac. Yet the Donald has fed the military/industrial- surveillance complex like never before, thereby defeating his own stated goal.

That is, America’s desperately needed pivot to fiscal and national security sanity was stopped cold by Trump’s mindless $140 billion per year boost to an already vastly excessive and waste-ridden national defense budget.

And now that crucial pivot has been further blocked by a reckless economic and political war against Iran that will do exactly nothing to further the security and safety of the American homeland.

 

 

[Danny Bateman]

29 minutes ago, TGHusker said:

David Stockton tees off on Trump, Dems and 30 years of easy money policy by the Fed that will result in the 'Turbulent 20s"

Stockton never misses an opportunity for doom and gloom and he is at his best here for sure.  However, he also attacks

the Mueller investigation while he himself attacks Trump's domestic policies and the adding to the swamp not draining it. 

A long op-ed wt a small portion copied below.  

https://www.zerohedge.com/markets/stockman-next-comes-turbulent-twenties

 

 

 

There was always a consensus that a recession or slowdown was possible prior to the election.

 

If this pandemic slows down the global economy for the foreseeable future, it seems like that slowdown might come to pass. It would truly be a double-whammy against Trump's re-election.

 

There's little he could've done to affect the spread around the world (other than providing competent global leadership, which will always be a bridge too far for Trump) but he has done himself absolutely zero favors in hollowing out our response team for this kind of thing.

[TGHusker]

3 minutes ago, Danny Bateman said:

 

There was always a consensus that a recession or slowdown was possible prior to the election.

 

If this pandemic slows down the global economy for the foreseeable future, it seems like that slowdown might come to pass. It would truly be a double-whammy against Trump's re-election.

 

There's little he could've done to affect the spread around the world (other than providing competent global leadership, which will always be a bridge too far for Trump) but he has done himself absolutely zero favors in hollowing out our response team for this kind of thing.

Bingo

[teachercd]

I am going to start investing in Lysol...

[Nebfanatic]

2 hours ago, teachercd said:

I am going to start investing in Lysol...

The stock market doesn't really work that way but good luck with your investment 

[teachercd]

22 minutes ago, Nebfanatic said:

The stock market doesn't really work that way but good luck with your investment 

Thank you!

[Mike Mcdee]

On 3/7/2020 at 9:25 AM, Nebfanatic said:

The stock market doesn't really work that way but good luck with your investment 

Hey man, in 2009 I really liked Call of Duty. It was made by Activision (ATVI). Had some savings I wanted to play with. My wife was pissed at me for playing video games and investing in them. Something along the same critique "Just because you like the video game doesn't mean it's good investment. No matter how many copies they sell of that stupid game." Joke was on her. Sold it for just over a 500% gain thanks to their micro transaction business model. Then she said it was "our money". Joke's on me.

[teachercd]

5 minutes ago, Mike Mcdee said:

Hey man, in 2009 I really liked Call of Duty. It was made by Activision (ATVI). Had some savings I wanted to play with. My wife was pissed at me for playing video games and investing in them. Something along the same critique "Just because you lime the video game doesn't mean it's good investment. No matter how many copies they sell of that stupid game." Joke was on her. Sold it for just over a 500% gain thanks to their micro transaction business model. Then she said it was "our money". Joke's on me.

Thank you for this.

 

Apple was dead...then iPhones came out...and Apple was not dead.