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Thread: Thank you President Trump. The economy just keeps choogling along...

  1. #451
    Quote Originally Posted by Swordsmyth View Post
    They were juicing O'Bummer's numbers and that was just one example that has been exposed.
    Plus he was the beneficiary of a rebound reaction from the collapse and an extremely helpful Fed.
    Trump is the beneficiary of the economic growth following the recession which occurred under Obama. He was lucky to enter office at a good time.



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  3. #452
    Quote Originally Posted by Zippyjuan View Post
    Trump is the beneficiary of the economic growth following the recession which occurred under Obama. He was lucky to enter office at a good time.
    2.3% growth is nothing to shout about.

  4. #453
    Quote Originally Posted by Warlord View Post
    2.3% growth is nothing to shout about.
    It is not bad- especially considering the population is growing at less than one percent. And it has been slowing. He promised four percent (but he likes to exaggerate) and nothing wrong with promoting optimism.


  5. #454
    Quote Originally Posted by Zippyjuan View Post
    It is not bad- especially considering the population is growing at less than one percent. And it has been slowing. He promised four percent (but he likes to exaggerate) and nothing wrong with promoting optimism.
    He claims its 'the best economy the world has ever seen' and people believe this crap... consumer confidence is high but its only going to last so long

  6. #455
    Quote Originally Posted by Warlord View Post
    2.3% growth is nothing to shout about.
    Actually it is as good as it gets . It will remain good until it is not . The positive run has lasted much longer than one might expect . Govt has meddled to the point where small business cannot overcome any greater than it does .It is a culture of decline . Only 6 in 10 work ( anyone who wants a job has one ) , of those about 2 pay more tax than they receive . It is a failed welfare state . So it is doing as well as it will until it declines . Enjoy the good times is how I see it .

  7. #456
    Quote Originally Posted by oyarde View Post
    Actually it is as good as it gets . It will remain good until it is not . The positive run has lasted much longer than one might expect . Govt has meddled to the point where small business cannot overcome any greater than it does .It is a culture of decline . Only 6 in 10 work ( anyone who wants a job has one ) , of those about 2 pay more tax than they receive . It is a failed welfare state . So it is doing as well as it will until it declines . Enjoy the good times is how I see it .
    But Trump claims its the best economy ever and he means in the history of the US which is bull$#@!. He's also going to dump more socialist programs on businesses (paid parental leave) plus whatever crap the Democrats pass in the House and he signs in a 'must pass' bill like a big spending one. He's also meddling in Afghanistan, Syria, Valenzuela, Yemen etc. and giving the military big increases further increasing the deficit which is up 23%.

    This can only go on for so long.



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  9. #457
    Quote Originally Posted by Warlord View Post
    2.3% growth is nothing to shout about.
    Especially with $1T+ deficits and now even Trump has his own version of QE behind him. There's not much discernible difference now between Obama and Trump as far as deficits and money printing Fed operations are concerned. If 2.3% GDP relies on $1T-$1.5T+ annual deficits going forward, imagine where GDP would be without that level of debt issuance being factored into government spending, which is then figured into GDP. And those who claim that the stats were goosed favorably for Obama but not Trump need only look at official "inflation rate" numbers to know that's not true.
    Last edited by devil21; 02-09-2020 at 12:09 PM.
    "Let it not be said that we did nothing." - Ron Paul

    The entire internet is the domain of paid shills and bots. If you don't know this by now....

    Israel, under control of the Crown and, ultimately, the Vatican, own the USA. If you don't know this by now....

    Talk to people about liberty. You won't find it on websites, you won't find it in politicians.

    But now you can't talk to people because of "social distancing"....brought to you by shills and politicians.

  10. #458
    Quote Originally Posted by devil21 View Post
    Especially with $1T+ deficits and now even Trump has his own version of QE behind him.
    Something else you won't see in conservative or mainstream media:



    They are too busy cheering 'the best economy in history' to deal with the facts. We are currently in a mania phase where everything looks rosy and dissenters ridiculed.

  11. #459
    The potential for supply chain disruption as a result of China dealing with the Coronavirus, and almost a complete shutdown of their manufacturing economy, is looming heavy upon Wall Street multinationals invested in China.
    However, tangentially related, as a result of USMCA we are now seeing signs of shifted investment into North America and increases in forecasts for U.S. manufacturing.

    (Via CNBC) […] Early in the week, New York’s Empire State Manufacturing Survey for general business conditions posted a reading of 12.9, up 8 points from January and its best level since May. New orders surged to 22.1, the highest since September 2017, and shipments rose to 18.9, the best since November 2018.
    On Thursday, the Philadelphia survey exploded 20 points higher to 36.7, the highest since February 2017. New orders hit their highest since May 2018. (more)
    The Philadelphia FED tracks factory orders in eastern Pennsylvania, Southern New Jersey, and Delaware. New orders in that region soared far higher than all expectations, reflecting a strong consumer-driven economy with ongoing purchases of durable goods.


    President Trump’s focus on ‘America First’ incentives has lowered overall energy costs, decreased the cost of doing business, cut regulatory hurdles and completely reset the total cost of production. The U.S. is now competitive, and without transportation costs the total cost of durable good manufacturing in the U.S. is now the best bet.
    Secure jobs, higher wages, low taxes and consumer confidence creates a domestic cycle of economic growth inside the U.S. A big jump in building permits and housing starts is an example of that strength.

    More at: https://theconservativetreehouse.com...region-report/

  12. #460

  13. #461
    https://markets.businessinsider.com/...0-2-1028928165

    US business activity falls for the first time since 2013 amid the coronavirus outbreak

    Business activity in the US contracted for the first time in seven years as the spread of coronavirus weighed on manufacturing and service companies.
    The IHS Markit purchasing managers' index fell 3.7 points to 49.6 on Friday, slipping below the key 50-point mark that signals a contraction. The last time the index, which measures composite output at factories and service providers, fell below 50 was in October 2013 in the midst of a US government shutdown.
    The index is the first major US economic indicator to show the impact of coronavirus, which has killed more than 2,200 people and infected more than 75,000 in just a few months. On Friday, the 30-year US Treasury yield fell to a record low of 1.89% and US stocks declined after the negative reading.

    The deterioration in PMI "was in part linked to the coronavirus outbreak, manifesting itself in weakened demand across sectors such as travel and tourism, as well as via falling exports and supply chain disruptions," IHS Markit economist Chris Williamson said in a statement.

    Friday's reading also marks the first time in four years that output from the service sector has fallen, driving the negative result. At the same time, manufacturing production also ground to an "almost halt" due to a near-stalling of orders, Williamson said. Total new orders fell for the first time in a decade, and GDP growth slowed to 0.6% in February from slightly more than 2% in January, according to the report.

  14. #462


    Suddenly @Zippyjuan likes Peter Schiff. A marriage of convenience.

  15. #463
    Yawn. Just waiting on the end of the world with Peter Schiff and Warlord are you?

    Still, the February survey also showed a "notable upturn" in business sentiment about the year ahead. This reflects "widespread optimism that the current slowdown will prove short-lived," Williamson said.

  16. #464
    Quote Originally Posted by phill4paul View Post
    Yawn. Just waiting on the end of the world with Peter Schiff and Warlord are you?
    Gold is up 2% today while the stock market is down 230 points.



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  18. #465
    Quote Originally Posted by Warlord View Post
    Gold is up 2% today while the stock market is down 230 points.
    Oh meh gerds, collapse imminent, hide yo children, hides yo wife!

  19. #466
    Quote Originally Posted by phill4paul View Post
    Oh meh gerds, collapse imminent, hide yo children, hides yo wife!
    Selling the Trump economy has been a good move... Gold was $1200 when he came to office.

  20. #467
    Quote Originally Posted by Zippyjuan View Post
    https://markets.businessinsider.com/...0-2-1028928165
    US business activity falls for the first time since 2013 amid the coronavirus outbreak
    The virus is Trump's fault?
    We would be much worse off because of the virus without what Trump has done for the economy.

  21. #468
    The Economic Report of the President, released on Thursday, touts the remarkable performance of the U.S. economy under the current administration. The good news is that the good news is likely to continue well on into the future.
    Said the president, “Over the past three years my administration has championed policies to restore the United States’ economic strength, propelling growth to levels far exceeding preelection expectations.”
    Those expectations were prepared by the Congressional Budget Office (CBO) just before the president was inaugurated, and the performance of the U.S. economy since then has beaten those projections every year since. For instance, the economy added more jobs last year than the CBO estimated would be created during the President’s entire first three years in office.
    Nearly seven million jobs have been created nationwide, including 500,000 in the manufacturing sector. The unemployment rate reached its lowest rate in 50 years in 2019, and remains near that record low. Nearly 2.5 million Americans have been lifted out of poverty, while wages for the bottom 10 percent of earners are rising faster than for the top 10 percent. The net worth of the bottom half of U.S. households has increased by almost 50 percent in just the last three years. And the energy revolution is saving the average American family $2,500 a year in energy and transportation costs.



    Thanks to the Tax Cuts and Jobs Act (TCJA), deregulation and the reduction in energy costs, the U.S. economy is now in its 11th year of expansion. The stock market continues to hit record highs while the number of IRA and 401(k) millionaires has hit all-time highs.
    If the president’s report is right, the U.S. economy will likely continue to expand for years into the future.
    More than 420 companies have signed the president’s Pledge to America’s Workers to create upwards of 14 million new jobs over the next five years. As President Trump noted in his introduction to the report, “The Federal Government does not create jobs; hardworking Americans create jobs. My Administration’s role is to follow our foundational policy pillars and allow our job creators and workers to do what they do best.”
    One of those pillars is deregulation. When first announced, the policy was to remove two regulations for every new one enacted. Instead, said the president, “the Federal Government has cut more than seven regulations for every significant new regulation. After only three years, my Administration has already cut more regulations than any other in United States history, and we have put the brakes on an endless assault of new, costly actions by Federal agencies.”
    And he’s just getting started: “My administration’s work is not yet done. With a continued focus on policies that increase economic growth, promote opportunity, and uplift our workers, there is no limit on how great American can be.”
    Job one is to make his Tax Cuts and Jobs Act permanent, as most of the law’s provisions expire automatically on December 31, 2025. Unless the act is made permanent by Congress, American taxpayers will once again suffer under the high tax structure left over from the Obama administration.
    For the present, said the report, “We expect near-term growth to be supported by the continuing effects of the TCJA, as well as new measures to promote increased labor force participation, deregulatory actions, immigration reform, reciprocal trade deals and an infrastructure program.”
    Speaking of reciprocal trade deals, the report notes that the administration’s ultimate goal is “freer, fairer trade, with zero tariffs, zero nontariff barriers, and zero subsidies [by governments to support particular industries].”
    The report speaks of “tax reform that incentivizes investment in human capital, regulatory reform that eliminates prohibitive barriers to entry for more innovative and entrepreneurial firms, and health investments and labor market policies that facilitate human capital accumulation [that] may … yield higher-growth dividends than those estimated here.”
    The key to continued growth of the U.S. economy, according to the president’s report, will be “higher output per hour worked.… We expect enactment of corporate tax reform to considerably increase capital per worker, and thus labor productivity.”

    More at: https://www.thenewamerican.com/econo...d-expectations

  22. #469
    Approximately 6.1 million individuals dropped off the food stamp rolls since President Donald Trump’s first full month in office in February 2017, according to the latest data from the U.S. Department of Agriculture (USDA).
    The USDA data showed that 6,074,074 individuals discontinued their participation in the Supplemental Nutrition Assistance Program (SNAP) between February 2017— when the president completed his first full month in office— and November 2019.
    Household participation in SNAP declined as well, with 2,489,315 households discontinuing SNAP.
    There are currently 36,223,717 individuals and 18,448,588 households that are participating in SNAP.
    When Trump took office, 42,297,791 individuals and 20,937,903 households were enrolled in SNAP.
    Trump recently made it a point in his annual State of the Union address to stress that he helped the poor move off welfare to find jobs with his recent enactment of work requirements.
    Under these work requirements, which had been enacted at the state level during the Obama years, those between the ages of 18-49 and without children or dependents who receive food stamps for more than three months in a 36-month period must work, go to school, receive job training, or volunteer to receive benefits.
    Another way the USDA has been trying to keep enrollment in the food stamp program down is through the use of data-mining practices to identify food stamp fraud.
    According to a report from the Government Accountability Office (GAO), computer algorithms went through SNAP purchase data in seven states and matched it up with retailer and eligibility data to see if there was fraud.
    In Mississippi, the state reported $2 million in SNAP overpayments since the state started incorporating data-mining into its fraud detection efforts.

    More at: https://www.breitbart.com/economy/20...-donald-trump/

  23. #470
    H/T Drudge:

    POLL: Satisfaction With USA Highest Since 2005...

    Coincidence that there were Republican Prez and Fed Reserve in office in 2005 as is the case now.
    Perhaps Republicans are just better at stimulating economy and managing spending to boost public statisfaction.

    Back then also troops were heading to mideast as are now.

  24. #471
    Amid all the carnage, a sliver of good news is that incomes jumped more than expected in January (+0.6% MoM vs +0.4% MoM) and while economists will be gravely disappointed spending rose less than expected (+0.2% MoM vs +0.3% MoM) prompting a healthy rise in the savings rate from 7.5% to 7.9%...

    This is the biggest jump in incomes since Dec 2018 and spending growth was the weakest since Feb 2019...



    On a year-over-year basis, December saw a big surge (due to Dec 2018's stocks-market-plunge-driven collapse in spending) and January saw that give back some as incomes grew at 4.0% YoY...



    More at: https://www.zerohedge.com/personal-f...g-growth-slows

  25. #472
    After a year of mostly mediocre job-creation numbers, the US economy has regained its 2017 feel over the last four months. Today’s job report from the Bureau of Labor Statistics shows that the US added 273,000 jobs in February, the third time in the last four months that job creation has exceeded 250K. The unemployment mark went back to 3.5% as labor-force numbers settled back down after a notable shift last month:


    Total nonfarm payroll employment rose by 273,000 in February, and the unemployment rate was little changed at 3.5 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in health care and social assistance, food services and drinking places, government, construction, professional and technical services, and financial activities. …
    The labor force participation rate remained at 63.4 percent in February. The employment-population ratio, at 61.1 percent, changed little over the month but was up by 0.4 percentage point over the year. (See table A-1.)
    The number of persons employed part time for economic reasons, at 4.3 million, changed little in February. These individuals, who would have preferred full-time employment, were working part time because their hours had been reduced or they were unable to find full-time jobs. (See table A-8.)
    In February, 1.4 million persons were marginally attached to the labor force, little changed from the previous month. These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months but had not looked for work in the 4 weeks prior to the survey. Discouraged workers, a subset of the marginally attached who believed that no jobs were available for them, numbered 405,000 in February, little different from the previous month.
    Revisions to December and January added 85,000 jobs to their previous reports, making the new January total the same as this month’s. The three-month average for job creation now stands at a rather robust 243,000, which might seem a bit incredible at the moment as we worry about economic damage from the coronavirus spread.


    Wages also looked strong:
    In February, average hourly earnings for all employees on private nonfarm payrolls increased by 9 cents to $28.52. Over the past 12 months, average hourly earnings have increased by 3.0 percent. Average hourly earnings of private-sector production and nonsupervisory employees increased by 8 cents to $23.96 in February. (See tables B-3 and B-8.)
    The average workweek for all employees on private nonfarm payrolls rose by 0.1 hour to 34.4 hours in February. In manufacturing, the workweek increased by 0.2 hour to 40.7 hours, and overtime edged up by 0.1 hour to 3.2 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls increased by 0.1 hour to 33.7 hours.
    CNBC’s Jeff Cox writes that the report “smashes expectations,” which is perhaps even an understatement. Economists had predicted 175,000 jobs added:
    The Labor Department reported Friday that the U.S. economy added 273,000 new jobs during the month, while the unemployment rate was 3.5%, matching its lowest level in more than 50 years. An alternative measure of joblessness that counts those not looking for work and holding part-time jobs for economic reasons edged higher to 7%.
    Economists surveyed by Dow Jones had been looking for payroll growth of 175,000 and a 3.5% jobless level. Average hourly earnings grew by 3% over the past year, in line with estimates, while the average work week, considered a key measure of productivity, nudge up to 34.4 hours.
    The Wall Street Journal was also surprised, and questions whether the coronavirus can put a dent in this jobs market:
    Some companies have expressed concern in recent days about the business impact of the virus and the global economic slowdown. United Airlines Holdings Inc. announced a hiring freeze through the end of June as the spread of the virus depressed bookings. Hyatt Hotels Corp. also froze hiring at some properties as the growing coronavirus outbreak dampens demand for travel.
    While virus-related uncertainty could lead to a wider slowdown in hiring in future months, many employers are still reluctant to cut workers given the virus could soon pass and the labor market remains tight. Jobless claims, a proxy for company layoffs, declined to 216,000 last week, a historically low level.
    Gigi Schweikert, president of child-care franchise Lightbridge Academy, said the virus is not impeding hiring plans. The 1,600-employee company is looking to add nearly 400 teachers and directors this year as franchises expand near growing populations of dual-income earners.
    “It’s still extremely difficult to hire,” she said. “With the unemployment rate as low as it is, there are fewer candidates who are available for the positions.”
    The Associated Press isn’t so sure, but also acknowledges that it might not do as much damage as some fear:
    If employers were to start slashing jobs as a consequence of the virus, it could significantly escalate the economic damage. For that reason, a range of job market barometers will provide some of the most vital signals about how the economy is withstanding the virus’ impact.
    Widespread layoffs can transform slowdowns in just one or two sectors — the travel industry, say, or manufacturing — into a full-blown downturn for the overall economy. When workers lose jobs and pay, they typically cut spending. Their friends and relatives who are still employed grow anxious about their own jobs and wary of spending freely, a cycle that can trigger further job cuts.
    So long as monthly job gains remain above 100,000 or so, the unemployment rate should stay low and the economy may be able to avoid a downturn. If the monthly pace were to sink below that level for a sustained period, joblessness would likely rise.
    It might also have a more nuanced effect. Companies with supply lines in China will have to replace those, requiring more work here even if those lines get shifted to other overseas locations. If some companies relocate supply lines back to the US, there is even more potential for job creation.

    More at: https://hotair.com/archives/ed-morri...jobs-february/



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  27. #473
    Is it still choogling?
    Chris

    "Government ... does not exist of necessity, but rather by virtue of a tragic, almost comical combination of klutzy, opportunistic terrorism against sitting ducks whom it pretends to shelter, plus our childish phobia of responsibility, praying to be exempted from the hard reality of life on life's terms." Wolf DeVoon

    "...Make America Great Again. I'm interested in making American FREE again. Then the greatness will come automatically."Ron Paul

  28. #474
    Quote Originally Posted by CCTelander View Post
    Is it still choogling?
    Underneath the virus hysteria it is.

    The stock market is not the economy and even that will recover when the panic stops.

  29. #475
    Quote Originally Posted by Swordsmyth View Post
    Underneath the virus hysteria it is.

    The stock market is not the economy and even that will recover when the panic stops.

    We'll see.
    Chris

    "Government ... does not exist of necessity, but rather by virtue of a tragic, almost comical combination of klutzy, opportunistic terrorism against sitting ducks whom it pretends to shelter, plus our childish phobia of responsibility, praying to be exempted from the hard reality of life on life's terms." Wolf DeVoon

    "...Make America Great Again. I'm interested in making American FREE again. Then the greatness will come automatically."Ron Paul

  30. #476
    Quote Originally Posted by CCTelander View Post
    We'll see.
    It just hit a big spike for me. I have received 5 requests from existing customers for expediated work. They are all looking at this Wuhan virus bull$#@! and thinking of ways to make money off of it. Its about 3 weeks of work and they all want it tomorrow.

  31. #477
    Quote Originally Posted by Swordsmyth View Post
    Underneath the virus hysteria it is.

    The stock market is not the economy and even that will recover when the panic stops.
    The next two quarters will be in recession. Shutting down worldwide supply chains and cancelling sporting events travel and lost hours at work from illness plus the energy sector is about to liquidate but other than that things are great.

    If the Fed does their job and brings out a bazooka might be short-lived by the end if summer. Today was a good start.

  32. #478
    The number of Americans filing for unemployment benefits unexpectedly fell last week as employers continued to hold on to their workers, but the coronavirus pandemic is expected to lead to an increase in layoffs as companies battle supply chain disruptions and sagging demand for some goods and services.

    Initial claims for state unemployment benefits dropped 4,000 to a seasonally adjusted 211,000 for the week ended March 7, the Labor Department said. Jobless claims are the most timely labor market indicator. They have declined for two straight weeks.
    Economists polled by Reuters had forecast claims rising to 218,000 in the latest week.

    More at: https://www.reuters.com/article/us-u...-idUSKBN20Z21P

  33. #479
    Quote Originally Posted by Swordsmyth View Post
    The number of Americans filing for unemployment benefits unexpectedly fell last week as employers continued to hold on to their workers, but the coronavirus pandemic is expected to lead to an increase in layoffs as companies battle supply chain disruptions and sagging demand for some goods and services.

    Initial claims for state unemployment benefits dropped 4,000 to a seasonally adjusted 211,000 for the week ended March 7, the Labor Department said. Jobless claims are the most timely labor market indicator. They have declined for two straight weeks.
    Economists polled by Reuters had forecast claims rising to 218,000 in the latest week.

    More at: https://www.reuters.com/article/us-u...-idUSKBN20Z21P
    I was talking with my shift manager the other day. I was bitching about the overtime and how we didn't even have anyone in training despite them saying they would be hiring. He told me he just was at a local conference of all the county manufacturers. The conference was about how to attract new hires. The team leading the conference pretty much told them they were $#@!ed. Our county currently has 1.9% unemployment. Which pretty much means the only ones not working are the ones not able or willing to. They told them the only options were higher wages and better benefits. Works for me.

  34. #480
    Thank you Mr. President for screwing up your Corona speech and telling everyone cargo would be on the European travel ban then crashing the market.

    MAGA *hugs*
    Quote Originally Posted by Swordsmyth View Post
    They are coming home, all the naysayers said they would never leave Syria and then they said they were going to stay in Iraq forever.

    It won't take very long to get them home but it won't be overnight either but Iraq says they can't stay and they are coming home just like Trump said.


    Whenever someone tells me Trump is draining the Swamp.


    Whenever you find yourself on the side of the majority, it is time to pause and reflect - Mark Twain

    Fascism Defined



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