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It's the Economy, Stupid!

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  • It's the Economy, Stupid!

    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

    It must be difficult for CNN to admit President Donald Trump’s economy is remarkable after their obsession over his impeachment. Their latest poll shows a stunning result even the liberal outlet felt compelled to concede.

    CNN reported on Dec. 20 that as the year 2019 closes, “the US economy earn[ed] its highest ratings in almost two decades” [emphasis added]. This, according to CNN, potentially boosts “President Donald Trump in matchups against the Democrats vying to face him in next year's election, according to a new CNN poll conducted by SSRS.”

    Specifics in the poll results showed that 76 percent of those polled “rate economic conditions in the US today as very or somewhat good, significantly more than those who said so at this time last year (67%)” [emphasis added].

    CNN, in a stunning admission, stated that “This is the highest share to say the economy is good since February 2001, when 80% said so” [emphasis added].

    Further results in the poll showed that 97 percent of Republicans said that “economic conditions are good right now,” along with 75 percent of Independents and 62 percent of Democrats.

    CNN’s poll accounted for 888 registered voters with a margin of error plus or minus 4.0 percentage points.

    Nearly seven in 10, according to CNN, “expect the economy to be in good shape a year from now (68%), the best outlook in CNN polling since December 2003” [emphasis added]. Furthermore, “63% who say things are good now and will continue to be good next year, while just 9% say the economy is currently good but will turn south in 2020.”
    The first to state his case seems right until another comes and cross-examines him.

  • #2
    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.
    Glendower: I can call spirits from the vasty deep.
    Hotspur: Why, so can I, or so can any man;
    But will they come when you do call for them? Shakespeare’s Henry IV, Part 1, Act III:

    go with the flow the river knows . . .

    Frank

    I do not know, therefore everything is in pencil.

    Comment


    • #3
      Originally posted by shunyadragon View Post
      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?
      The first to state his case seems right until another comes and cross-examines him.

      Comment


      • #4
        Originally posted by shunyadragon View Post
        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.
        Some may call me foolish, and some may call me odd
        But I'd rather be a fool in the eyes of man
        Than a fool in the eyes of God


        From "Fools Gold" by Petra

        Comment


        • #5
          Cross-post, since it's relevant to this thread...

          Originally posted by Mountain Man View Post
          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

          In July and August the U.S. was heading into a recession according to the media. The Washington Post was at the forefront of the recession narrative with multiple articles predicting certain doom for the U.S. economy…. except there was a problem. All of the economic data would not support their predictions. Things only got better.

          The media gnashed their horrible teeth and stomped their horrible feet; alas Main Street continued to get stronger; wages higher, unemployment lower, and more middle-class Americans gaining strength and financial footing. The media shouted at trees hoping and praying their predictions would soon evidence and the economy would throw itself into reverse. Foiled again, it just never happened. Democrats have permanent frowns.

          Today the Washington Post admits defeat, informs their audience that cheering for economic collapse is futile, and states, reluctantly, the U.S. is unlikely to enter a recession:

          The U.S. economy is heading into 2020 at a pace of steady, sustained growth after a series of interest rate cuts and the apparent resolution of two trade-related threats mostly eliminated the risk of a recession.

          This marks a dramatic turnaround in momentum since August, when some forecasters predicted a 50 percent chance of a downturn starting by the end of next year.

          […] The major fears in August were that businesses would continue pulling back their spending, Trump would continue imposing tariffs, and companies would soon turn around and ax employees. But that worst-case scenario didn’t materialize. Job gains exceeded expectations in October and November.

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

          © Copyright Original Source

          Some may call me foolish, and some may call me odd
          But I'd rather be a fool in the eyes of man
          Than a fool in the eyes of God


          From "Fools Gold" by Petra

          Comment


          • #6
            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.
            "I hate him passionately", he's "a demonic force" - Tucker Carlson, in private, on Donald Trump
            "Every line of serious work that I have written since 1936 has been written, directly or indirectly, against totalitarianism and for democratic socialism" - George Orwell
            "[Capitalism] as it exists today is, in my opinion, the real source of evils. I am convinced there is only one way to eliminate these grave evils, namely through the establishment of a socialist economy" - Albert Einstein

            Comment


            • #7
              Originally posted by shunyadragon View Post
              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.

              Comment


              • #8
                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.

                Comment


                • #9
                  Originally posted by seanD View Post
                  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?

                  Comment


                  • #10
                    Originally posted by Starlight View Post
                    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.
                    The first to state his case seems right until another comes and cross-examines him.

                    Comment


                    • #11
                      Originally posted by seanD View Post
                      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.
                      The first to state his case seems right until another comes and cross-examines him.

                      Comment


                      • #12
                        Originally posted by Cow Poke View Post
                        I needed a good laugh.
                        Originally posted by Mountain Man
                        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
                        Last edited by Leonhard; 12-21-2019, 03:05 PM.

                        Comment


                        • #13
                          Originally posted by Starlight View Post
                          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.
                          The first to state his case seems right until another comes and cross-examines him.

                          Comment


                          • #14
                            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.

                            Experts predicted economic Armageddon under Trump — where are they now?

                            The economy is strong, unemployment is low and wages are rising, according to the latest economic data released Friday, which is in stark contrast to what the vast majority of elite economic opinion predicted just a few years ago from a Trump presidency.

                            The latest unemployment report has joblessness at 3.6%. Where is the Trump Armageddon Squad now?

                            What’s even more egregious is that the same folks predicting the end of the world refuse to provide sane analysis of radical proposals dribbling out of the mouths of the Democrats. They report on Medicare-for-All, the Green New Deal and college debt forgiveness as if these cockamamie ideas will have no impact on the economy.
                            The first to state his case seems right until another comes and cross-examines him.

                            Comment


                            • #15
                              Originally posted by Leonhard View Post
                              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.

                              Comment

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