The Trump economy...

[transporter]

The title of the article is a bit over the top..."house of cards collapses" is very poor wording. The economy under Trump has not been a "house of cards" and it is not collapsing. For those who are paying attention (which most certainly does not include anyone on here) the economy has significantly downshifted over the past month or two. The info in the body of the article is on point. Yet, none of this should come as news. All of you morons have been told to expect this since the tax law and spending increases were signed into law. You've been told that tariffs would negatively impact the economy--directly and thru business sentiment. Dumbass comrade GURPS is still posting articles trying to get you idiots to believe that Trump's asinine tariffs are not a drag on the economy.

The Trump economy house of cards collapses

How dumb does he suppose we are?

At his 2020 campaign launch this week, President Trump rehashed a familiar boast. “Thanks to our tariffs, American steel mills are roaring back to life. You know that,” he said.

His supporters may indeed think that. In reality, the exact opposite is happening. A few hours before Trump made that boast at his campaign kickoff, U.S. Steel announced that, because of falling steel prices and softening demand, it was mothballing some operations. “We are idling two blast furnaces in the United States and one blast furnace in Europe,” the company said.

Roaring back to life.

That Trump’s steel tariffs failed should be no surprise. As I wrote in March 2018, the industry’s woes have little to do with imports. The tariffs allowed U.S. steel-makers a short-term price hike — long enough for Trump to boast repeatedly that steel was “coming back” (“like never before!”) and to invent a false claim that U.S. Steel was “opening up six major facilities” — before things returned to where they were before. Actually, worse: The tariffs probably cost U.S. producers long-term market share.

...

Of particular note is the yawning gap between consumer confidence (quite rosy) and executives’ outlook. Perhaps the public has been swayed by Trump’s P.T. Barnum routine, but business leaders see a more troubling reality.

The Duke University survey of chief financial officers recently found that 69 percent of U.S. CFOs expect a recession by the end of next year, brought on by weaker global economic growth and the effects of Trump-initiated protectionism. Similarly, JPMorgan Chase’s economic monitor this week put the chance of a recession within 12 months at 45 percent, up from 20 percent at the beginning of 2018.

2020 has been pointed to for about the last 3 years as a potential inflection point for the economy. Trump is doing his best with his tariffs to fulfill this prophecy. Hopefully we won't get there...the imbalances in the economy just aren't that severe...but policy uncertainty is most definitely slowing spending initiatives in the C-suite. Hopefully, we will simply slow down here to our current natural rate of growth and not slip into recession. Given, we have such an inept and incompetent President and a Congress that can't function, it will be up to the Fed to help engineer a "soft landing". That result is made more difficult because we have such an inept and incompetent President...

The ballyhooed revival of manufacturing? Not really. The Philadelphia Fed reported Thursday that its manufacturing gauge had taken an unexpectedly steep plunge. Earlier in the week , the New York Fed’s Empire State Manufacturing Survey took its biggest tumble since the data series began in 2001.

And yet Trump boasted this week: “Our economy has never, ever been stronger than it is today.”

Is it odd that comrade GURPS, Ivy League Lite and the rest of the ignorati crowd failed to post the manufacturing data? No...not odd at all. Fox News (with its' green rating) and dailywire/caller don't tell you this stuff.

Trump's quote, which he makes often, is an outright and easily provable lie. But none of you care about that either. The mark of a true cultist.

 

[Yooper]

For those who are paying attention (which most certainly does not include anyone on here)....

Since we don't pay attention it's amazing you still keep posting.

I guess I should say I admire your persistence. So, okay, here goes; "I admire your persistence."

--- End of line (MCP)

 

[CPUSA]

Since we don't pay attention it's amazing is you still keep posting.

I guess I should say I admire your persistence. So, okay, here goes; "I admire your persistence."

--- End of line (MCP)

Who are you talking to?
All I can see is what you posted and it looks pretty random compared to the thread title...
I'll just post something random as well...

 

[Grumpy]

According to the experts, the economy was supposed to collapse January 21, 2017. I wish they would explain what's the holdup.

 

[Kyle]

The "experts" must have been heavily invested in carbon-credit markets.