Economic reality check

That’s absurd.

 

LOL. ^ You just wrote that you make up economic numbers out of thin air just to suit your political biases when reality just won't cooperate

You clearly have no understanding of economics

 

You're right, it is absurd. The current GDP estimate is not 0.3%, it is 0.4% so much much higher

 

I agree that it is absurd that our GDP will be around 0.3% for Q1. What was also absurd was Trumps claiming GDP was going to be 5%

What is also absurd was all the Trumpette's claiming that GDP growth (which was created on the back of an increase in deficit spending) was sustainable.

 

Oh come now .. since when does someone who's argument in relation to a debate on economics is sitting in the peanut gallery crying "Absurd Absurd Absurd" - with nothing to justify this claim - not show a deep understanding of economics ?

 

I’m asking the economics whiz kids on the forum to compare the policies of Obama and Trump. Clearly Trump’s policies will produce greater economic growth under the same circumstances.

 

That’s equally absurd.

 

Since the original post is absurd. That’s when.

 

I agree that twirling around in a circle crying "absurd absurd absurd" - with no justification for why something is absurd - is absurd .. and patent idiocy.

Did you have something else to contribute ?

 

More absurdity.

 

Twirling around crying out to the world "Absurd, Absurd .. its all Absurd" .. and thinking this is an argument - is fallacy by definition - and patent absurdity.

 

And again the economic whiz kids cannot (actually will not because they know that Trump's policies result in superior growth whilst Obama's policies were economic drag chutes) compare economic policies and come up with an honest answer. That is absurd.

 

First off - I am not an "anti Trumper" - I give the guy credit when due but not when it is not... and I can't stand Obama and slam him on a regular basis. I am not interested in partisan blindness.

You can go on all you like about how much you love Trump's economic policy. What is absurd however is claiming that 0.3%-0.4% is "Superior growth" . It is simply not. In fact it is downright poor. This is not to say that Obama did anything remarkable but growth was way higher than 0.4%.

The second problem is the massive deficit increase under Trump - while we can attribute this more to Red Congress if you like - it is what it is.
Any fool can rev up the economy with deficit spending. What is difficult is increasing economic growth while decreasing the deficit.

That is economics 101 ... simple mass balance.

Now leaving all these horrible numbers aside - there is more to the economy than now much credit card spending the Gov't is doing. There are long term trends and things like "the business cycle".

There are also black and white swan events and "trade wars". Things like inflation, deflation and interest rates.

You have not considered any of these things .. all you have done is ingest some propaganda and bandied about some short term statistics.

One of the biggest factors that help economic growth is the movement of global capital. If it is moving your direction - things are good. Look at China over the last couple of decades .. If it is moving away -things are not so good - consider Cuba and Venezuela.

One thing I as happy about was Trump getting rid of some regulatory burdens .. these are negative with respect to Global Capital. This was one of Obama's terrible flaws. Look at the Keystone Pipeline - we had a company invest billions of dollars up front - on the basis that the US is not some Kangarooland political system .... "ooopppss" weren't they fooled .. "ha ha" "Funny Funny".

One thing Global capital hates is uncertainty .. they want calculated risks .. not some puppet politician playing political games .. and that's what Obama did.

On the other side of the coin - Trump's sanction happy administration is harming us - big time. The world is now rushing to create an alternative to the US system of international payments. Even our allies are pissed - so pissed that they are getting involved in the creation of an alternative. These trade wars and sanctions have the BRIC nations moving in earnest to create an an alternative. This was going to come eventually but we should have been able to hold it off for at least another few decades.

The day you wake up and find that there is a viable alternative to the US dollar .. the history books will record this as the defacto end of the US economic empire ... FULL STOP.

 

Exactly

However I do think Obama was a better president than Trump is

 

And again there is no comparison of the Trump economic policies to those of Obama and Trump’s efforts to reduce trade restrictions on US exports and sanctions on nation states which are world leaders in terrorism.

The deficit spending is the result of the Democrats. They absolutely refuse to reduce government spending. That is not the reason the economy is booming. If you would compare policies you would know this.

Our allies are upset because Trump is insisting that they pay their committed defense percentages and that they reduce their trade restrictions on US exports. It's about time a President has worked for the benefit of US workers by acting to reduce trade restrictions. This so called trade war is nothing more than negotiations with our trading partners to reduce those trade barriers. Prior to Trump's actions China's average tariff rate is triple that of the US which has one of the lowest of any major economy.

 

What deficit spending ?? As a percentage of gdp federal spending is actually trending down. And as an absolute number it is steady.

https://www.usgovernmentspending.com/federal_spending_chart

 

Progressives DESPERATELY need to get the public to think the economy is bad or else Trump is pretty much a shoe in for a win.

I have been seeing threads like this become more and more common, cherry picking whatever you can to say "This Sucks!"

The push for Socialism only works when the economy is in shambles, Progressives are extremely frustrated that the US economy is still booming while the rest of the world is sinking.

The US is THE it spot for global investors, China is fading fast and the EU is tripping over itself like crazy

 

Exactly. That’s apparent from this thread.

 

Who was a better - or worse- President on the whole is debatable as it depends on the metric one is using.

The topic here is the economy - and even in this there are different metrics. In this respect we only have 1.5 years of Trump where we had 8 years of Obama so time will tell.

So far - from my perspective - Trump has been good in some ways but a disaster in may others. In keeping with Red administrations of the past - Trump is a fiscal wreck - a princess with a credit card.

Reagan was by far the worst with respect to fiscal responsibility - in modern times. The difference is that Reagan had the wind at his back. Reagan presided at a time when the baby boomers were going into their high spending years - and there were numerous other helpful economic factors. Despite a rapid increase in revenue - Reagan still managed to spend even more ... massive amounts more.

Trump is doing what Reagan did but in a far different situation .. The boomers are going into their low spending years and there are economic problems.

Trump claimed that the increase in revenue/GDP would pay for the tax cuts and increase in spending. This is not going to happen at 0.3%. If this is any indication of how the year is going to go - we are heading for massive deficits.

Whats more - we are in a rising interest rate environment. Big deficits - when the economy is stabie -in a rising interest rate environment is the pinnacle of fiscal irresponsibility.

 

That's absurd. You are on a roll.

BTW we are not in a rising interest rate environment.

 

Trade restrictions are one thing - Sanctions are another. Iran is not the #1 state sponsor of terrorism .. and Russia is not even close to being a world leader in terrorism. Russia is one of the main fighters against terrorism.

When the President is Red - the house is Red, and the Senate is Red - it is abject nonsense to blame Blue.

This is perhaps a small stone in the shoe of our allies but not even close to being the main reason our allies are upset.

 

Quit spouting made up naked claims, as if you know what you are talking about, when you have no idea what you are talking about.



In 2014 we could borrow money at less than 0.5% (2 year treasury bond) - now we are paying 5 times that amount. How is this "NOT" a rising interest rate environment ?

 

Look even CNN has to admit the truth after their poll.

And this is from Progressive-land CNN where every single word uttered is to be anti-Trump, yet they still had to admit 7/10 think the economy is in good shape.

It is very interesting to note, even on this CNN poll, these are the lowest "disapproval" numbers ever posted on a CNN poll with an approval rating just two points shy of CNN's highest numbers.

http://cdn.cnn.com/cnn/2019/images/03/18/rel4a.-.trump,.economy.pdf

There isn't much the Socialists/Progressives can do, they are simply FAR too outnumbered no matter how much the media tries to lie and say they are not.

 

Depends on how you look at it, but when comparing it to Obama which is what Progressivse are doing, you are absolutley correct.

Obama had an entire Presidency with near ZERO percent interest rates. Anything "his" economy did needs to be put in perspective to the comparatively large increases seen in the Trump years.

Anyone who is trying to say the Obama economy was stronger is simply lying or not intelligent enough to understand finance.

 

Agreed - and at no point did I make this claim - as that would be stupid