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

  1. #271
    The median household income in the United States increased less than a percent from 2017 to 2018, while the median earnings of workers in the United States rose 3.4%.
    The data, released by the Census Bureau Tuesday, also shows that the official poverty rate in the United States dropped to 11.8%, a 0.5 percentage point decrease from 2017.

    More at: https://usafacts.org/reports/facts-i...nsus-2017-2018
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment



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  3. #272
    Quote Originally Posted by devil21 View Post
    I don't know if it's a fact or not, seeing how I don't particularly trust either of your opinions these days, but yelling out something about Hillary (or Obama, even that still happens) in the middle of a thread is a good clue that the topic isn't going the direction that Trumpkins desire. Just a learned observation...
    I get that from progressives all the time even though you are libertarian. History is history. There is a reason people don't believe in polls anymore. And it is singularly because the media gushed polling disinformation about a Hillary win.
    The economy is doing fine. I see it around me all the time. The factory jobs are once again out there.



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  5. #273
    Quote Originally Posted by phill4paul View Post
    I get that from progressives all the time even though you are libertarian. History is history. There is a reason people don't believe in polls anymore. And it is singularly because the media gushed polling disinformation about a Hillary win.
    The economy is doing fine. I see it around me all the time. The factory jobs are once again out there.
    Perhaps you should watch the Obama's new Netflix documentary about Chinese factories being set up in the US. The future is very...hmmm...mandarin.
    "Let it not be said that we did nothing." - Ron Paul

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  6. #274
    Quote Originally Posted by devil21 View Post
    Perhaps you should watch the Obama's new Netflix documentary about Chinese factories being set up in the US. The future is very...hmmm...mandarin.
    I don't really have a problem with foreign countries basing manufacturing here. Paying corporate taxes here. Employing workers here. Sounds better to me than companies from here basing manufacturing there. Paying taxes there. Employing people there. Do you?

  7. #275
    Quote Originally Posted by phill4paul View Post
    I don't really have a problem with foreign countries basing manufacturing here. Paying corporate taxes here. Employing workers here. Sounds better to me than companies from here basing manufacturing there. Paying taxes there. Employing people there. Do you?
    He has the exact opposite position to yours, he wants to make China great again.


    It is also ridiculous to pretend that there aren't plenty of American companies starting up, expanding or moving back along with companies from many other countries.
    And it's just getting started.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  8. #276
    Quote Originally Posted by Swordsmyth View Post
    He has the exact opposite position to yours, he wants to make China great again.


    It is also ridiculous to pretend that there aren't plenty of American companies starting up, expanding or moving back along with companies from many other countries.
    And it's just getting started.
    We are aware that you love tariffs, trade wars, and the chaos they cause.

    Jobs leaving China are heading to other Asian countries- not the US.

    https://www.usatoday.com/story/money...es/1582529001/

    Are tariffs against China bringing factories and jobs back to the U.S.?


    The tariffs that President Donald Trump has slapped on Chinese imports haven't sparked the widespread return of manufacturers to the U.S. that Trump envisioned.

    About 41% of American companies are considering moving factories from China because of the trade war, or have already done so, but fewer than 6% are heading to the U.S., the American Chamber of Commerce in China said in a recent survey.

    Companies are largely eyeing Southeast Asia and Mexico.

    Steve Madden, the footwear and handbag maker, shifted its production to Cambodia. GoPro, the mobile camera maker, has its sights on Mexico. Gap, the clothing and accessories retailer, has started up new factories in Indonesia, Vietnam and Bangladesh. Brooks Running, a running shoes and clothes maker, said they'll move 8,000 jobs from China to Vietnam by the end of the year.

    The White House was not immediately available for comment.

    Trump tweeted Friday morning “Companies will relocate to U.S.” and “If the Tariffs went on at the higher level, they would all come back, and fast.”

    Manufacturing added 28,000 jobs the first half of the year, the fewest during that period since Trump took office promising a manufacturing renaissance.

    So why aren't U.S. manufacturers bringing jobs back to the U.S. in droves?

    Capability

    “There are no viable alternative manufacturers located in the United States,” James Osgood, CEO and president of Klean Kanteen, a maker of stainless steel water bottles, said at a hearing late last month on Trump's proposed tariffs on $300 billion in Chinese imports that have since been put on hold.

    “It would likely take five to seven years to build the capital-intensive infrastructure, develop and train personnel ... and implement such domestic production capability,” Osgood said. “Klean Kanteen does not have the working capital or profitability to cover loses for that amount of time.”

    Various companies testified that there is an entire supply chain in China to support their production, but no equivalent network in the U.S.

    American job gains have increasingly been concentrated in service-providing industries instead of manufacturing, the Peterson Institute for International Economics said in a recent report.

    “A skills mismatch – the gap between the skills workers have and the skills employers need – causes (manufacturing) job vacancies to remain unfilled for longer periods,” Richard Hernandez, economist for the Bureau of Labor Statistics, wrote in an article in August.

    Wages and dollars
    While the gap between U.S. and Chinese factory wages has narrowed in recent years, pay for American manufacturing workers has risen faster than gains in productivity, or output per worker, according to a recent report by Boston Consulting Group. That means the U.S. is still relatively expensive.

    And the strength of the dollar “has made U.S. goods more expensive abroad and imports cheaper” in the U.S., the study said.

    For low-cost manufacturing, Southeast Asian countries and Mexico are cheaper. The average monthly factory wage in the U.S. is more than $3,200, compared to $237 in Vietnam, $188 in Indonesia, $425 in Thailand and about $400 in Mexico , according to the data by Trading Economics.

    Policy

    Countries such as Cambodia, India, Indonesia and Thailand are given preferential treatment by the U.S. in trade to help developing countries grow their economies. That means many products from these countries can be shipped to the U.S. duty-free.

    Many American companies "are in the process of diversifying the supply chain” away from China, says William Zarit, former minister for commercial affairs at the U.S. Embassy in Beijing and senior counselor of Cohen Group, a business advisory firm for American companies running businesses in China. “They are either doing it, or in the process of deciding how to do it, when to do it, where to go.”

    But they don't want to venture far from China because it's the world’s second-largest economy and biggest single market for many businesses, with 1.3 billion consumers.

    For example, Columbia, a sportswear producer, owns more than 700 retail locations in China, one of its largest foreign markets.

    “Having local production helps us remain competitive in the local China market, which in turn supports U.S. based innovation jobs,” says Katie Tangman, the company’s global customs and trade director.

    “It’s logical to move to Southeast Asia or maybe India, and we can still serve this market from there,” Zarit adds. “That’s why there aren’t a lot of companies planning on moving operations back to the U.S.”
    Quote Originally Posted by Swordsmyth View Post
    The quality seems to have dropped significantly since I came here, I guess you get what you pay for.
    "There is always a tweet. That has become accepted fact in the Trump presidency: For every pronouncement the President makes, there is at least one tweet from his past that directly contradicts his current view." -CNN

    I am Zippy and I approve of this post. But you don't have to.

  9. #277
    Quote Originally Posted by Zippyjuan View Post
    We are aware that you love tariffs, trade wars, and the chaos they cause.
    Liberty is chaos, that's why control freaks like you fear it and want to help China destroy it.

    Quote Originally Posted by Zippyjuan View Post
    Jobs leaving China are heading to other Asian countries- not the US.

    https://www.usatoday.com/story/money...es/1582529001/
    Some are coming here and more will in addition to the new ones being created here.
    And every job that leaves China for ANYWHERE else is a victory for the whole world.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  10. #278
    Interesting take on the outlook for the USA:

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  11. #279
    https://finance.yahoo.com/news/trump...194717808.html

    Trump’s trade war has killed 300,000 jobs

    President Trump says he is “winning big time, against China.” But his trade war is causing measurable damage to the U.S. economy, with the pain likely to worsen.

    Forecasting firm Moody’s Analytics estimates that Trump’s trade war with China has already reduced U.S. employment by 300,000 jobs, compared with likely employment levels absent the trade war. That’s a combination of jobs eliminated by firms struggling with tariffs and other elements of the trade war, and jobs that would have been created but haven’t because of reduced economic activity.

    The firm’s chief economist, Mark Zandi, told Yahoo Finance that the job toll from the trade war will hit about 450,000 by the end of the year, if there’s no change in policy. By the end of 2020, the trade war will have killed 900,000 jobs, on its current course. The hardest-hit sectors are manufacturing, warehousing, distribution and retail.

    Other data back up the Moody’s Analytics numbers. Employers have created 1.3 million jobs so far this year, down from 1.9 million during the same period in 2018. The manufacturing sector has actually contracted, with many producers struggling with higher prices caused by Trump’s tariffs. Business investment is growing by the smallest amount since late 2016.

    Beginning last year, Trump has hiked tariffs on about half of all imports from China. The average tariff on Chinese imports has risen from 3.1% before Trump got tariff-happy, to 21.2% now, according to Chad Bown of the Petersen Institute for International Economics. Those are taxes paid by American importers, who do their best to pass the added cost on to their own customers. Sometimes they can’t, and have to absorb the tariffs as a higher cost that lowers profits. And sometimes they can force their Chinese vendors to lower prices, to help offset the higher cost of the tariffs.

    On Sept. 1, Trump imposed a 15% tariff for the first time on finished consumer goods imported from China, including clothing, shoes, appliances and food. A similar tariff is due to go into effect Dec. 15 on a deeper set of consumer goods, including electronics and smartphones. At that point, the average tariff would have risen to 24.3% and Trump would have hiked taxes on virtually everything imported from China.

    An ‘escalation’ scenario
    China has done the same to American exports, and simply refused to buy some American products, such as agricultural goods. Negotiators will restart trade talks soon, but many analysts are skeptical of a deal between two egocentric presidents insistent on saving face. “We remain skeptical that [Chinese President] Xi will be willing to accept any deal, even one that is limited in scope, with Trump going forward,” Beacon Policy Advisors told clients recently.

    Trump is in denial, if his public comments are any indication. He says repeatedly, and falsely, that China is paying the tariffs, rather than Americans. He says the economy is doing great even though it’s clearly slowing down. Growth is only around 1.6% at the moment, and it could slow to 1% or worse by the end of the year.

    Nobody knows where the trade war is headed. Moody’s Analytics examined an “escalation” scenario with even higher tariffs and other trade hostilities between China and the United States. The Federal Reserve tries to intervene by rapidly cutting interest rates to zero, but there’s still a deep recession in the U.S. and Europe. In a de-escalation scenario, Trump makes a deal with China by the end of 2019 and gradually removes the existing tariffs. The economy stabilizes and stocks rally.

    More at link.
    Quote Originally Posted by Swordsmyth View Post
    The quality seems to have dropped significantly since I came here, I guess you get what you pay for.
    "There is always a tweet. That has become accepted fact in the Trump presidency: For every pronouncement the President makes, there is at least one tweet from his past that directly contradicts his current view." -CNN

    I am Zippy and I approve of this post. But you don't have to.

  12. #280
    Quote Originally Posted by Zippyjuan View Post
    LOL

    Not only is that obvious ChiCom propaganda pulled out of thin air but it pales in comparison to the damage China has done and would do to our economy.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment



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  14. #281
    White House chief economic adviser Larry Kudlow said Sept. 13 that the U.S. economy was now on the upswing despite a looming global recession and the Federal Reserve’s tight monetary policy. U.S. retail sales rose 0.4 percent on a monthly basis in August, beating market expectations, according to a report released by the Commerce Department on Sept. 13. Solid retail data was driven by more-than-expected auto sales and online shopping.
    “The core retail sales are growing at about 7.5 percent annualized for the last three months, which gives you a hint of a big Q3 number. That’s a terrific number,” Kudlow told reporters at the 2019 House Republican Conference Member Retreat in Baltimore.


    More at: https://www.theepochtimes.com/us-eco...w_3081304.html
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  15. #282
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  16. #283
    It notes:

    The comparison isn’t quite apples-to-apples, since the bureau implemented a new methodology in its latest report that somewhat influenced the results for both 2018 and 2017.
    Trump has benefited from entering office during a period of expansion,
    Quote Originally Posted by Swordsmyth View Post
    The quality seems to have dropped significantly since I came here, I guess you get what you pay for.
    "There is always a tweet. That has become accepted fact in the Trump presidency: For every pronouncement the President makes, there is at least one tweet from his past that directly contradicts his current view." -CNN

    I am Zippy and I approve of this post. But you don't have to.

  17. #284
    Quote Originally Posted by Zippyjuan View Post
    It notes:

    The comparison isn’t quite apples-to-apples, since the bureau implemented a new methodology in its latest report that somewhat influenced the results for both 2018 and 2017.
    The next thing it says:

    Still, the data bears out a middle-class expansion unseen since the 1960s.
    Quote Originally Posted by Zippyjuan View Post
    Trump has benefited from entering office during a period of expansion,
    The next thing it says:

    yet the economy has also been boosted by his cutting of taxes and regulations. By fostering a pro-business climate, he also sparked optimism for investment. The economic strength and the resilience of the labor market, in particular, have given Trump room to mount unprecedented economic pressure on China, whose communist regime has long been hurting the United States with unfair trade practices such as forced technology transfer, theft of intellectual property, and currency manipulation.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  18. #285
    The U.S. Census Bureau has published a report into income and poverty levels across the United States, finding that median household income in 2018 was $63,179 while median earnings for all workers was $40,247.
    Additionally, as Statista's Niall McCarthy notes, poverty has now fallen for the fourth consecutive year, thanks to the healthy state of the economy and it has hit pre-recession lows.



    In 2018, the official U.S. poverty rate was 11.8 percent, a reduction of 0.5 percentage points from the 12.3 percent recorded a year previously. Poverty levels are now significantly lower than in 2007, just before the financial crisis and the most recent U.S. recession.
    The 2018 data shows that poverty rates for children fell 1.2 percentage points to 16.2 percent while it remained at a steady 9.7 percent among over 65s.

    More at: https://www.zerohedge.com/personal-f...-recession-low
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  19. #286
    Additionally, as Statista's Niall McCarthy notes, poverty has now fallen for the fourth consecutive year, thanks to the healthy state of the economy and it has hit pre-recession lows.

    Half of that time being while Obama was president.
    Quote Originally Posted by Swordsmyth View Post
    The quality seems to have dropped significantly since I came here, I guess you get what you pay for.
    "There is always a tweet. That has become accepted fact in the Trump presidency: For every pronouncement the President makes, there is at least one tweet from his past that directly contradicts his current view." -CNN

    I am Zippy and I approve of this post. But you don't have to.

  20. #287
    Quote Originally Posted by Zippyjuan View Post
    Half of that time being while Obama was president.
    With the Fed juicing the economy.

    His policies would have completely collapsed it otherwise, Trump has made real progress in spite of the Fed aggressively driving up rates.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  21. #288
    Quote Originally Posted by Swordsmyth View Post
    With the Fed juicing the economy.

    His policies would have completely collapsed it otherwise, Trump has made real progress in spite of the Fed aggressively driving up rates.
    The economy continued making gains despite Trump's best efforts to slow it down with his trade wars.
    Quote Originally Posted by Swordsmyth View Post
    The quality seems to have dropped significantly since I came here, I guess you get what you pay for.
    "There is always a tweet. That has become accepted fact in the Trump presidency: For every pronouncement the President makes, there is at least one tweet from his past that directly contradicts his current view." -CNN

    I am Zippy and I approve of this post. But you don't have to.



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  23. #289
    Quote Originally Posted by Zippyjuan View Post
    The economy continued making gains despite Trump's best efforts to slow it down with his trade wars.
    Trump fighting back in the trade wars has been helping along with the tax and regulation cuts, the only think O'Bummer had was help from the Fed & friends.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  24. #290

  25. #291
    Quote Originally Posted by Republicanguy View Post
    Probably Fake News, if not then definitely an idiot.

    Go suck on a lime, slave.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  26. #292
    No you are a hypocrite. And a bull $#@!ter.

  27. #293
    Quote Originally Posted by Republicanguy View Post
    No you are a hypocrite. And a bull $#@!ter.
    You are a slave, a liar and a fool.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  28. #294
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    Quote Originally Posted by Danke View Post
    Interesting take on the outlook for the USA:

    That deserves it's own thread.

    I wish it was a couple more hours long, with more details on each main subject.

    Funny, he didn't even mention anything about the numbers having to do with future migration.... especially when talking about all of those brown spots on the map.
    If the stampman tells you to kiss his ass, shall he get away with it and live? Don't let your courage cool, or a few bullies scare you. We've nothing to fear but slavery. Love your liberty, and fight for it like men who know its value. Once lost it will never, never be regained.
    -Hugh Ledlie, 1774.

  29. #295
    Quote Originally Posted by Zippyjuan View Post
    Half of that time being while Obama was president.
    Steep economic downturns lead to big recoveries. Name one policy Obama implemented that was pro-growth. He raised taxes and increased regulation

    The Fed deserves most of the credit for this short term bounce. But over the long run a rising standard of living comes from being more productive. Trump's deregulation and corp tax cuts will make America more prosperous over a 20-30 year period in the same way the country benefited from Reagan long after he was out of office. Same with Thatcher in Britain. Same with Pinochet in Chile. Presidents get way too much credit or blame over the short run and not enough over the long run.

  30. #296
    Quote Originally Posted by Krugminator2 View Post
    Steep economic downturns lead to big recoveries. Name one policy Obama implemented that was pro-growth. He raised taxes and increased regulation

    The Fed deserves most of the credit for this short term bounce. But over the long run a rising standard of living comes from being more productive. Trump's deregulation and corp tax cuts will make America more prosperous over a 20-30 year period in the same way the country benefited from Reagan long after he was out of office. Same with Thatcher in Britain. Same with Pinochet in Chile. Presidents get way too much credit or blame over the short run and not enough over the long run.
    I agree that presidents get both too much credit and too much blame for the economy. Luck can play a huge part. Trump has benefited from moves made to shore up the economy long before he took office. He entered during a period of strong economic growth. Obama entered during one of the worst recessions in decades. The post- recession gains are now shrinking.
    Quote Originally Posted by Swordsmyth View Post
    The quality seems to have dropped significantly since I came here, I guess you get what you pay for.
    "There is always a tweet. That has become accepted fact in the Trump presidency: For every pronouncement the President makes, there is at least one tweet from his past that directly contradicts his current view." -CNN

    I am Zippy and I approve of this post. But you don't have to.



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  32. #297
    Quote Originally Posted by Zippyjuan View Post
    I agree that presidents get both too much credit and too much blame for the economy. Luck can play a huge part. Trump has benefited from moves made to shore up the economy long before he took office. He entered during a period of strong economic growth. Obama entered during one of the worst recessions in decades. The post- recession gains are now shrinking.
    O'Bummer did nothing but hurt the economy as you have admitted by failing to list one thing he did to help it.
    Trump is helping it greatly.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  33. #298
    The most surprising thing about the latest unemployment report isn’t that the rate dropped to the lowest level since December 1969. It’s that unemployment wasn’t supposed to get anywhere near that low under President Trump. At least, not if you believed mainstream Keynesian economists.
    The economy created 136,000 jobs in September, according to the Bureau of Labor Statistics survey of businesses. The separate household survey, which is used to track unemployment, showed that the number of unemployed dropped by 275,000.
    Not only did the job market pull 275,000 off the unemployment line last month, it pulled more than 100,000 who had dropped out of the labor force back into the job market.
    This is good news, but it continues to confound mainstream economists, who solemnly predicted at the start of Trump’s administration that we faced a “secular stagnation.” Any talk of strong economic growth was a fantasy.
    When the economy started to outperform expectations, liberals shrugged it off by claiming that the upturn in growth was all baked in the cake when President Obama was president.
    That is false.
    We can get a sense of the true impact of Trump’s economic policies by comparing the actual results since he took office to the forecasts made at that time. What did economists think the economy would be like if nothing changed over the next 10 years in terms of tax rates or regulatory policies
    For the purpose of comparison, we used the Congressional Budget Office’s 10-year economic outlook released in January 2017. The CBO’s economic forecasts tend to mirror the consensus of other economists.
    The results of this comparison are stark.






    GDP growth has exceeded the CBO’s forecast in every quarter starting with Q2 2017. That includes the second quarter of this year, which saw 2% growth where the CBO had projected 1.5%.
    As a result, the economy is now $590 billion bigger than it was supposed to be.
    The CBO projected that unemployment would never get below 4.4%, and would start rising again this year. Instead, the unemployment rate fell from 4% at the start of the year to 3.5%. The current unemployment rate is now a full percentage point below the CBO’s forecast. That translates into 1.6 million more people employed than the CBO expected.
    And, where the CBO had forecast a steady decline in the labor force participation rate – which measures what percentage of the working-age population is either employed or looking for a job – it has been climbing. The CBO projected it would go from 62.9% at the end of 2016 to 62.7% in the last quarter.
    The actual figure for September was 63.1%.
    Oh, and inflation has been running slightly lower than expected – which wasn’t supposed to happen either. A typical headline about the Trump economy was the one in the Wall Street Journal shortly after he won the election, which said, “Inflation and Interest Rates Forecast to Rise Under Trump Presidency.”
    If Trump were a Democrat, the news media would be shouting hosannas from every rooftop – instead of braying for Trump’s impeachment.
    So what changed after the CBO issued its forecast? Trump reversed as many Obama-era policies as he could, as fast as he could. He halted pending regulations, rolled back more than $30 billion of existing rules, brought corporate tax rates in line with our competitors, fixed the worst elements of Dodd-Frank.

    More at: https://issuesinsights.com/2019/10/0...res-the-proof/
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  34. #299
    Quote Originally Posted by Swordsmyth View Post
    The most surprising thing about the latest unemployment report isn’t that the rate dropped to the lowest level since December 1969. It’s that unemployment wasn’t supposed to get anywhere near that low under President Trump. At least, not if you believed mainstream Keynesian economists.
    The economy created 136,000 jobs in September, according to the Bureau of Labor Statistics survey of businesses. The separate household survey, which is used to track unemployment, showed that the number of unemployed dropped by 275,000.
    Not only did the job market pull 275,000 off the unemployment line last month, it pulled more than 100,000 who had dropped out of the labor force back into the job market.
    This is good news, but it continues to confound mainstream economists, who solemnly predicted at the start of Trump’s administration that we faced a “secular stagnation.” Any talk of strong economic growth was a fantasy.
    When the economy started to outperform expectations, liberals shrugged it off by claiming that the upturn in growth was all baked in the cake when President Obama was president.
    That is false.
    We can get a sense of the true impact of Trump’s economic policies by comparing the actual results since he took office to the forecasts made at that time. What did economists think the economy would be like if nothing changed over the next 10 years in terms of tax rates or regulatory policies
    For the purpose of comparison, we used the Congressional Budget Office’s 10-year economic outlook released in January 2017. The CBO’s economic forecasts tend to mirror the consensus of other economists.
    The results of this comparison are stark.






    GDP growth has exceeded the CBO’s forecast in every quarter starting with Q2 2017. That includes the second quarter of this year, which saw 2% growth where the CBO had projected 1.5%.
    As a result, the economy is now $590 billion bigger than it was supposed to be.
    The CBO projected that unemployment would never get below 4.4%, and would start rising again this year. Instead, the unemployment rate fell from 4% at the start of the year to 3.5%. The current unemployment rate is now a full percentage point below the CBO’s forecast. That translates into 1.6 million more people employed than the CBO expected.
    And, where the CBO had forecast a steady decline in the labor force participation rate – which measures what percentage of the working-age population is either employed or looking for a job – it has been climbing. The CBO projected it would go from 62.9% at the end of 2016 to 62.7% in the last quarter.
    The actual figure for September was 63.1%.
    Oh, and inflation has been running slightly lower than expected – which wasn’t supposed to happen either. A typical headline about the Trump economy was the one in the Wall Street Journal shortly after he won the election, which said, “Inflation and Interest Rates Forecast to Rise Under Trump Presidency.”
    If Trump were a Democrat, the news media would be shouting hosannas from every rooftop – instead of braying for Trump’s impeachment.
    So what changed after the CBO issued its forecast? Trump reversed as many Obama-era policies as he could, as fast as he could. He halted pending regulations, rolled back more than $30 billion of existing rules, brought corporate tax rates in line with our competitors, fixed the worst elements of Dodd-Frank.

    More at: https://issuesinsights.com/2019/10/0...res-the-proof/
    Bump to counter forum sliding spambot
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  35. #300
    Recent news articles reinforce reports that have been carried by major-media outlets for over a year: Employment levels in blue-collar jobs have been growing at their fastest rate in more than 30 years, with most of the growth taking place since Donald Trump took office.
    The Investment Watch blog ran a report on October 12 that was headlined “Under Trump, employment for the non-college-educated is the best it’s been in 50 years.” The article noted: “Blue-collar professionals such as plumbers and mechanics are earning more than the average salary for white-collar jobs — and they don’t require a traditional college degree, according to a recent Bloomberg report.”
    That statement is particularly significant in the face of multiple reports in the news of late about the burden of college debt. CNBC reported last year that more than 44 million Americans collectively hold nearly $1.5 trillion in student debt. When they graduate, the average student loan borrower has $37,172 in student loans, a $20,000 increase from 13 years ago.

    The article noted that though college graduates still earn more than non-graduates, avoiding student debt could make trade schools more appealing. Many trade programs are covered in part by employers, and state-sponsored programs in Michigan and Georgia offer trade degrees tuition-free.
    This phenomenon was analyzed by reporters at Issues & Insights last May.
    The Issues & Insights writers found from analyzing the data that 1.2 million goods-producing jobs were created in the U.S. economy since Trump took office — more than twice as many as were created during the last 27 months of the Obama administration.
    During Obama’s last 27 months in office, the economy created 109,000 manufacturing jobs, compared with 470,000 created from January 2017 through May 2019 under Trump. Jobs in the durable-goods manufacturing industry declined during this time under Obama.
    Blue-collar workers are seeing stronger wage gains as well, noted the report, with weekly wages for goods-producing jobs up $70 under Trump compared with $39 under Obama.

    More at: https://www.thenewamerican.com/econo...s-50-year-high
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

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