Trump gets credit for booming economy
- Thread starter Monello
- Start date
Even I could see that it's a WSJ piece, not something Monello wrote.
Give Starfish a break. He lost his favorite pacifier.
transporter
Well-Known Member
Oye...it would really, really help if you had some basic understanding of GDP, macroeconomic policy in general and the world economy in general. Of course it also helps IF you can read English.
The idea that ONE man is responsible for the trajectory of the US economy is...juvenile.
The idea that a President in his first year in office completely turns around an already growing economy is...delusional.
As has been noted more times than one can count, the US economy was poised to have stronger overall GDP in 2017 than 2016. The recovery of oil prices secured that for it was the collapse of oil prices that led to the 2016 drop in GDP in the first place. (I know...none of you understand this...)
As many of you blind right wing cultists complained about during and immediately after the recession the large bulk of US GDP is from consumer spending. Regulatory changes have little/no impact on consumer spending. Regulatory changes have impacts on business profits. Regulatory changes do not result in immediate additions or subtractions from gross profit. Why is consumer spending rebounding? Because households are finally clearing away the last of the pre-Great Recession debt, because the personal bankruptcies that were filed in the aftermath of the recession are clearing off of credit records so consumers have the ability to spend more.
The US is only one country. The entire world is seeing a very nice period of across the board growth that began in 2016. Global growth positively impacts US growth. Rising global growth will also positively impact the US. However, our incompetent President's "America First" agenda will have some drag on growth as markets that we should have more access to are being abandoned (TPP) and others are being threatened (NAFTA) by this "businessman".
And, why this needs to be explained is amazing, a tax cut bill passed in Dec 2017 that will not take real effect until Feb or March of 2018 HAS NO IMPACT ON 2017 GDP.
The tax cuts will have a positive impact on GDP. The impact is expected to be minor. The minor expected positive impact is NOT WORTH the cost to the deficit, the debt or our ability to stop the next recession (I know...none of you understand this either.)
The corporate tax cuts will help corporate profits which have led to higher prices in expectation of the tax cuts...they will likely lead to higher stock prices as companies use the money to buy back shares and increase dividends. For the 48-51% of Americans who DO NOT own stocks...this will have NO IMPACT on their day to day finances.
I know...I know...none of you understand any of this. Go take some classes...it will also help for you to understand that "media bias" isn't just limited to the "MSM".
But here is the really interesting point to ponder: The US economy is doing well. The employment picture is strong. Yet 55-60% of Americans disapprove of President Trump. Our President is a buffoon...he is a detriment to our democracy. The only people who don't see this is a minority of Americans...and the Chinese who love the opportunities Trump has handed them
Hank
my war
Of course everyone knows this is fake news -- economists *never* agree.
But you're positively adorable for trying.
but, but, but..... they asked 68 people!
Say, sugar britches....why aren't YOU one of the economists referenced in the WSJ articles? Why aren't YOU writing for the Economist or WSJ? Why are you just broken down trailer trash with an internet connection?
but, but, but..... they asked 68 people!
How many economists do YOU know?
Hank
my war
69
Smokin'. Hope WSJ contacted some of 'em.
GWguy
*
Nice.
;-p
just by the Virtue of Being elected ...
OPTIMISM is up ...
it is a Sunnay day
Business is booming
People have a better outlook then 8 yrs of malaise under The Messiah and all his Hope and Change
People Are SPENDING MONEY
so yeah Trump is Responsible
You can keep repeating ad nauseam but it's still wrong and incredibly myopic.
Hijinx
Well-Known Member
I know it really hurts you guys to see success in your enemies doesn't it?
But so far, it's there. Denying it doesn't make it not so.
right so all the optimism being reported is fake news
It's short-sighted for starters. People are SPENDING MONEY as you shout from the mountain tops, but they are largely using consumer credit, i.e., credit cards. So when you isolate the SPENDING MONEY part, you're ignoring a very important piece of context. Not sure if that's on purpose or out of sheer ignorance, but I have a hunch.
That right there says it all. They're so juvenile that they can't see the big picture. They don't see opponents, they see the enemy. #### all this E pluribus unum ####.
They will continue to bitch and moan as long as they have an audience. That's the hive mind. They don't realize just how juvenile they appear to normal people. They lost, so they're taking their ball and going home. obama was, and still is, the biggest turd that ever floated to the top of the bowl, and all the contempt they hold for Trump won't change that fact.
I'll say one thing for Trump, he sure did expose them for what they truly are.