It's the Economy, Stupid!

[Cow Poke]

With any presidential election, the current (or expected) economy plays a huge part.

This is not an "I HATE TRUMP" thread - it's simply a thread to keep track of where we are with the economy, NOR does a robust economy offset the fact that Trump can be a real !$@&^!$.

Even CNN notes the "good news" for Trump....

Post-Impeachment, CNN Admits US Economy Received Best Ranking in Nearly 20 Years


economy stupid 1.jpeg -- economy stupid 2.jpeg

[shunyadragon]

By far 90%+ of the recovery of the economy occurred under Obama from the Crash under Bush and the trend continued under Trump. A actually do not attribute the recovery primarily the responsibility of either Obama nor Trump, but the industry and commercial companies of the USA, and a natural recovery.

It's USA economy stupid, and not the Obama nor Trump economy.

[Cow Poke]

By far 90%+ of the recovery of the economy occurred under Obama from the Crash under Bush and the trend continued under Trump. A actually do not attribute the recovery primarily the responsibility of either Obama nor Trump, but the industry and commercial companies of the USA, and a natural recovery.

I needed a good laugh. Thanks, Shuny.

Merry Christmas to you --- are you expecting snow?

[Mountain Man]

By far 90%+ of the recovery of the economy occurred under Obama from the Crash under Bush and the trend continued under Trump. A actually do not attribute the recovery primarily the responsibility of either Obama nor Trump, but the industry and commercial companies of the USA, and a natural recovery.

It's USA economy stupid, and not the Obama nor Trump economy.

Right...

The economy was stagnant under Obama and barely hanging on. Of course the fact that it took off like a rocket after Trump started implementing policy changes is just a coincidence.

[Mountain Man]

Cross-post, since it's relevant to this thread...

The Washington Post was forced by reality to grudgingly cancel its dire prediction that the US economy was on the verge of collapse.

Source: The Conservative Tree House

https://theconservativetreehouse.com...the-recession/

© Copyright Original Source

[Starlight]

It is surprising Trump hasn't yet crashed the US economy like Bush did.

But Trump has done literally nothing to benefit the US economy, so I don't see any way whatsoever to ascribe to him any credit for inheriting Obama's good economy.

[JimL]

By far 90%+ of the recovery of the economy occurred under Obama from the Crash under Bush and the trend continued under Trump. A actually do not attribute the recovery primarily the responsibility of either Obama nor Trump, but the industry and commercial companies of the USA, and a natural recovery.

It's USA economy stupid, and not the Obama nor Trump economy.

Obama definitely helped pull the U.S. out of the Bush crash and got the economy headed back in the right direction. The only thing Trump has done is to make his wealthy supporters even wealthier.

[seanD]

The federal reserve has reversed course and is doing exactly what it was doing prior to Trump because of dire events occurring in the repo market. It's amazing how ignorant folks are about the central bank, what it's doing, and how it affects everything. I really really wish Trump and conservatives would stop using the economy as a sign of Trump's success, because this could backfire pretty spectacularly if the big fat ugly bubble market (Trump's own words) pops and shtf. I pray this doesn't happen before 2020. That's all I'll say.

[JimL]

The federal reserve has reversed course and is doing exactly what it was doing prior to Trump because of dire events occurring in the repo market. It's amazing how ignorant folks are about the central bank, what it's doing, and how it affects everything. I really really wish Trump and conservatives would stop using the economy as a sign of Trump's success, because this could backfire pretty spectacularly if the big fat ugly bubble market (Trump's own words) pops and shtf. I pray this doesn't happen before 2020. That's all I'll say.

Why before 2020?

[Cow Poke]

It is surprising Trump hasn't yet crashed the US economy like Bush did.

But Trump has done literally nothing to benefit the US economy, so I don't see any way whatsoever to ascribe to him any credit for inheriting Obama's good economy.

Without addressing the substance (or lack thereof) of your post, it really doesn't matter. It's all about perception - when an election comes, one of the questions (even used as a campaign theme in the past) is "are you better off now than 4 years ago?"

Whether the current president is directly responsible for the economy in place at the time of his reelection campaign or not - it's a huge factor in his reelection.

[Cow Poke]

The federal reserve has reversed course and is doing exactly what it was doing prior to Trump because of dire events occurring in the repo market. It's amazing how ignorant folks are about the central bank, what it's doing, and how it affects everything. I really really wish Trump and conservatives would stop using the economy as a sign of Trump's success, because this could backfire pretty spectacularly if the big fat ugly bubble market (Trump's own words) pops and shtf. I pray this doesn't happen before 2020. That's all I'll say.

Yeah, I'm not even trying to deal with the underlying "why" -- because to most Americans, perception is reality. If it is perceived that the economy is booming, the guy currently in power has a really good chance of having a second term.

[Leonhard]

I needed a good laugh.

The economy was stagnant under Obama and barely hanging on.

His statement isn't false. The lions share of the recovery from the economic bubble occured under Obama.

After that, the growth of the GDP has been pretty much the same.

https://www.statista.com/statistics/...es-since-1990/


However the Dow Jones index have done rather better under Trump.

https://www.bloomberg.com/opinion/ar...r-donald-trump

[Cow Poke]

It is surprising Trump hasn't yet crashed the US economy like Bush did.

But Trump has done literally nothing to benefit the US economy, so I don't see any way whatsoever to ascribe to him any credit for inheriting Obama's good economy.

It's also noteworthy that the "out of power" party will do everything they can to detach a booming economy from the current White House occupant, and attribute it elsewhere, unless, of course, the economy is tanking, in which case the current White House occupant gets saddled with it and it's all his fault.

Cuts both ways.

[Cow Poke]

I think part of this is also like when we talk about the stock market (thanks, Leon, for reminding me) where we compare "results" to "expectations" and "predictions".

The predictions were frequent that, if elected, Trump would tank the economy. The fact that it's NOT tanked - but is actually growing - compared to expectations (of some) is quite impressive.

[JimL]

His statement isn't false. The lions share of the recovery from the economic bubble occured under Obama.

After that, the growth of the GDP has been pretty much the same.

https://www.statista.com/statistics/...es-since-1990/


However the Dow Jones index have done rather better under Trump.

https://www.bloomberg.com/opinion/ar...r-donald-trump

Not really, you can toss the first year out which is just a continuation of the direction the economy was headed when a president first takes office. With Obama you can see the turn around in 2009 taking place and continues to steadily climb throughout his time in office. With Trump, in his first year, the Dow Jones inherited from Obama continues to climb and then begins to level off.