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Thu Dec 26, 2019, 05:39 PM

The Trump Economy

"It is the best economy in the history of the world".

But is it?

Mr Trump had taken an economy from President Obama that was steady and had grown for about 8 straight years. It had also grown the deficit. After the near-collapse of the markets in 2008, there had been a lot of lending and investment in certain sectors, such as banking and automobile production, that helped to spur the economy out of a doomsday spiral.

Mr Trump inherited this economy, with fairly low unemployment and steady growth, and inserted a $trillion dollars tax cut into its system. The major impact affected corporations as many bought back their own stocks to drive up the values. The stock market acted in kind. It went up.

But, the taxcuts did not create the growth many anticipated. It now appears that the economy has leveled off near Obama numbers, except the deficit is now about a $trillion dollars a year, almost double that of Obama.

Almost everyone trumpets the "great economy". And to be fair, the huge taxcuts did spur the economy and the stock market for a while. But, at some point, the excess in the market will create a bubble, in my opinion.

People will be asking, "Was it worth it?"

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Arrow 6 replies Author Time Post
Reply The Trump Economy (Original post)
kentuck Dec 2019 OP
Six117 Dec 2019 #1
NewJeffCT Dec 2019 #2
ooky Dec 2019 #5
Vinca Dec 2019 #3
kentuck Dec 2019 #4
mopinko Dec 2019 #6

Response to kentuck (Original post)

Thu Dec 26, 2019, 05:59 PM

1. "Sugar rush"

That's what they called it. Fits perfectly! The crash is gonna be a MUTHA.

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Response to kentuck (Original post)

Thu Dec 26, 2019, 06:12 PM

2. the national debt

has exceeded the total GDP under Trump as well.

And, not just the annual budget deficit is up under Trump - the trade deficit was a little under $500 billion/year the last 3 years under Obama. Under Trump, the first three years are over $600 billion/year

Job creation has been below compared to the last 3 years under Obama as well. Sure, unemployment is low, but 80-85% of the unemployment decrease happened under Obama.

Yes, the stock market is hitting records, but it hit records under Obama, Clinton and Reagan as well. The stock market generally goes UP over the long term. Who is to say that the record Dow Jones close at 28,600 or so it is today wouldn't be 31,600 or 35,600 under Clinton?


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Response to NewJeffCT (Reply #2)

Thu Dec 26, 2019, 06:43 PM

5. I think the stock market is accelerating toward a cliff

and is destined to fall like a big lead balloon when panic over overvalued stock prices takes hold.

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Response to kentuck (Original post)

Thu Dec 26, 2019, 06:17 PM

3. There might be lots of jobs and wages might be slightly higher, but on the other end of the scale

I paid a whopping $8.99 for house brand aluminum foil last week. Oranges are a buck each. Everything has risen so steeply in price it has wiped out any perceived gain.

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Response to Vinca (Reply #3)

Thu Dec 26, 2019, 06:21 PM

4. I tend to agree.

There is a lot of inflation, especially in food products.

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Response to kentuck (Original post)

Thu Dec 26, 2019, 07:29 PM

6. like everything else, it is rotten in the middle.

fucking up obamacare is gonna hurt the economy in general, and in red states the most.
on top of everything else, i do not believe this potempkin economy can survive until 11/20.

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