Sorry Obama, But It's Trump's Economic Boom, Not Yours

Sorry Obama, But It’s Trump’s Economic Boom, Not Yours

In my other thread about how Democrats destroy economies, someone tried to give credit to Obama for today’s booming economy. Sorry Bub, that does not fly. “Just about every important economic indicator showed the economy was stalling out in Obama’s last year.
I recommend reading this article from Investor’s Business Daily to see why.

What boom?

Except for a blip in 2018, the economy has proceeded along the same slow track it has been on since the end of the Great Recession.

And the evidence is mounting that the “low unemployment” is built on a weak foundation of low-wage/unstable (temporary/transient) jobs.

Like it has been ever since the Great Recession.

Don’t point out the stock market either- all indications are that we might be in an index bubble as people reverted to passive investing strategies into index funds following the last crash.

In other words, stock prices are being set not by true discovery of value, but by the huge amount of capital inflows into these index funds and their associated derivatives.

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The only thing that changed is the number of editorials declaring that the economy is booming in contrast to the previous adminstration’s economy, without citing any supporting metrics.

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Lol. GDP figures for the last 4 quarters

4q2018 1.1
1q2019 3.1
2q2019 2.0
3q2019 2.1

That’s steady growth, hardly a boom.

Allan

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That IBD article about the booming economy is thirteen months old and reflects the cheerleading after the economy achieve 4.1% growth in 2Q18.

At the time Donald Trump Jr. tweeted that Obama had never beaten 4.1% in any quarter. Actually the economy under Obama had beaten that figure in two different quarters, but facts seem largely irrelevant to the promoters or right wing memes.

The 4.1% number was good, but it was easy to see it was goosed a full percentage point but a surge in soybean exports in advance of tariffs that the Trump admin had announced, so of course, the 4.1% number has not been repeated in the past year.

In the article, IBD predicts the 4.1% number will be exceeded in coming quarters. We know now that did not happen.

So much for the “Trump boom”.

The economy has plodded since the recovery from the Bush collapse began.

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LoL. Trump is the king of taking credit when it isn’t deserved. Whether it is this economy or him collecting donations and the making himself the public face of said donations.

I’m not saying Trump doesn’t get credit for continued improvement in the economy. I’ll grant him that which shows I am far more objective than you since you won’t give Obama any credit. But I do worry that Trump has added so much to the deficit despite it being “good times” economically. Conservatives used to care about the deficit but don’t anymore. Would be curious to hear your thoughts on Trump and the deficit.

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I wonder if a mod shouldn’t create an Obama Derangement Thread and move threads of this nature to it.

All the facts show that the economy started recovering under Obama…

And that the deficit is really ballooning under Trump. But no one on Trump’s side seems to care a flying fig about the deficit.

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Meh, same trends and relatively slow/steady growth for 10 years, 7 under Obama and 3 under Trump.

I know that the truth is hard to handle, but buck up and give it a try.

I think its his weak spot. No president is perfect, and he has his eye off of that particular ball. But considering that Obama ran up more debt than all other president before him combined, its not a topic that Dems should mouth off about.

See, now you’re just falling for talking points.

Did you know that the bolded above is true of Bush (W) and Reagan?

Did your source tell you that?

And that it’s now true of Trump only Trump is doing it a helluva lot faster?

You’re new here but don’t let forum libs fool you into thinking they cared about deficit.

When I came onboard here back in mid 2000, I complained about Bush spending habits. Libs called me one of “good” conservatives back then.

But the moment I hold Obama to same standards that I hold Bush…I became a racist bigot.

How dare I criticize their Messiah. :wink:

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paul Krugman quick call your office!

I’m not overly concerned about deficits. I’m just surprised that conservatives aren’t.

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Krugman had an interesting op ed piece on how Trump is extorting American businesses…

What I haven’t seen pointed out is that Trump is quietly applying a Ukraine-type extortion-and-bribery strategy to U.S. corporations. Many businesses are being threatened with policies that would hurt their bottom lines — especially, but not only, tariffs on imported goods crucial to their operations. But they are also being offered the possibility of exemptions from these policies.

And the implicit quid pro quo for such exemptions is that corporations support Donald Trump, or at least refrain from criticizing his actions.

Then there’s this:

Consider, for example, what happened last week, when Trump toured an Apple manufacturing plant together with Tim Cook, Apple’s C.E.O. Trump used the occasion to make a political speech, attacking impeachment proceedings and falsely claiming that Nancy Pelosi has “closed Congress.” He also asserted that the plant, which has been operating since 2013, had just opened.

And Cook, far from correcting these falsehoods, expressed support, declaring that America has the “strongest economy in the world.”

Cook’s incentive to play along was obvious. Apple assembles many of its products in China; it’s seeking exemptions from Trump’s China tariffs. And there’s every reason to believe that the allocation of such exemptions is driven by politics, not the national interest.

For example, in 2018 a company owned by Oleg Deripaska — an oligarch close to Vladimir Putin, who is supposed to be under U.S. sanctions for activities that include interference in foreign elections — received a waiver from aluminum tariffs. The waiver was withdrawn only after Democrats in Congress noticed it, with the Commerce Department claiming that it had been granted as a result of a “clerical error.” Uh-huh.

there’s also this. has krugman ever been right?

I could only imagine what Idiot Boy would have done if he inherited an economy like Obama did. We’d all be in bread lines.

based on what policies?

1.1 quarterly growth is Booming. :wink:

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“Conservatives” aren’t concerned about deficits because they never cared about them. It’s just a boogie man to rally the base until the next tax cut for their donors.

I thought I was a conservative because until I realized this truth.