Trump Has Set Economic Growth On Fire

Discussion in 'Political Issues' started by snerd, Sep 7, 2018.

  1. snerd

    snerd Horselover Fat

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    Here's how he did it........................

    • President Donald Trump presides over an administration that has seen an enormous level of controversy that could overshadow a burgeoning economy.
    • He has delivered on promises to cut taxes and regulations and promote activity through more aggressive government spending.
    • Critics believe that it won't last because the fiscal stimulus is aimed only at near-term growth.
    • The results, though, have been impressive: a surge in company profits and near-record levels of optimism from consumers and businesses.
    President Donald Trump is more than 19 months into an administration engulfed in so much controversy that it may overshadow a tremendous achievement, namely an economic boom uniquely his.

    During his time in office, the economy has achieved feats most experts thought impossible. GDP is growing at a 3 percent-plus rate. The unemployment rate is near a 50-year low. Meanwhile, the stock market has jumped 27 percent amid a surge in corporate profits.

    Friday brought another round of good news: Nonfarm payrolls rose by a better-than-expected 201,000 and wages, the last missing piece of the economic recovery, increased by 2.9 percent year over year to the highest level since April 2009. That made it the best gain since the recession ended in June 2009.

    His critics, a group that includes a legion of Wall Street economists, most Democrats and even some in his own Republican Party, don't believe it will last. They figure the current boom will begin petering out as soon as mid-2019 and possibly end in recession in 2020.

    [​IMG]

    But even they acknowledge that the current numbers are a uniquely Trumpian achievement and not owed to policies already set in motion when he took office.

    "I still believe the big story this year is an economic boom that most folks thought impossible," Larry Kudlow, director of the National Economic Council and a chief advisor to Trump, said in a recent interview with CNBC.com. "I understand that he's been in for a year and a half, but when you look at those numbers, this is not going away."

    Indeed, the economy does seem to be on fire, and it's fairly easy to draw a straight line from Trump's policies to the current trends.

    Trump's economic achievements
    Business confidence is soaring, in part thanks to a softer regulatory environment. Consumer sentiment by one measure is at its highest level in 18 years. Corporate profits, owed in good part to last year's tax cuts, are coming close to setting records.

    [​IMG]

    Each of those accomplishments can be tied either directly to new policies or at least indirectly through a brimming sense of hope from businesses that the White House is back on their side.

    "When you look at those confidence indexes, they're telling you something," Kudlow said. "His attitude is, we're not punishing business, we're not punishing success, we want to make things easier to do business and to hire, and I think it's had a very positive effect and a very palpable effect."

    GDP most recently gained 4.2 percent in the second quarter, the best performance in nearly four years.

    At the same time, the unemployment rate is 3.9 percent, just one-tenth of a percentage point above the lowest level since 1969.

    [​IMG]

    But there are some more telling figures about just how much progress has been made under Trump.

    At a time when most economists had been using the term "full employment" to describe the economy, 3.9 million more Americans have joined the ranks of the working during the Trump term. During the same period under former President Barack Obama, employment had fallen by 2.6 million. The economy in total, while still not in breakout mode, has grown by $1.4 trillion through the second quarter under Trump; the same time period for Obama saw a gain of just $481 billion, or a third of Trump's total.

    Businesses are investing, consumers are spending and innovation is on the rise as well.

    [​IMG]
    Yuri Gripas | Reuters

    President Donald Trump delivers remarks before signing an executive order on strengthening retirement security in America at Harris Conference Center in Charlotte, NC, August 31, 2018.
    Trump pledged that he would pare down regulations that were choking business activity. While the actual moves toward deregulation haven't been quite as ambitious as planned, the approach has won him converts in the business community.

    The most recent reading from the National Federation of Independent Business was the second highest in history dating back 45 years. Small business owners reported aggressive hiring plans, the only obstacle to which has been a dearth of labor supply. The end of June saw 6.7 million job openings and just 6.6 million Americans classified as unemployed, an unprecedented imbalance.

    "Expansion continues to be a priority for small businesses who show no signs of slowing as they anticipate more sales and better business conditions." NFIB President and CEO Juanita Duggan said in a statement.

    More at link............. https://www.cnbc.com/2018/09/07/how-trump-has-set-economic-growth-on-fire.html
     
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  2. snerd

    snerd Horselover Fat

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  3. Wolfie38S

    Wolfie38S

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    Economy is growing at the same pace as Obama.

    What worries me is how the rich have cashed out 10 BILLION in the market in the last week.

    They usually know whats up.
     
  4. Biggsly

    Biggsly Good looking deplorable

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    Democrat socialist will hate this, but they hate America.
     
  5. Wolfie38S

    Wolfie38S

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    Trump is correct that the annual real GDP growth rate never exceeded 3 percent under Obama. The highest it reached was 2.9 percent in 2015, according to the BEA. It remains to be seen if the nation’s economy will top 2.9 percent annual growth under Trump.

    Remember Obama inherited 9% contraction and Trump got a plus 2. That means Obama moved it plus 11 and Trump a plus 1.
     
  6. Jonesee

    Jonesee

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    Do you realize they are anticipating 2 FRB interest rate increases before the end of the year to head off inflation?
    and a follow-up question:
    Are you aware what interest rate increases do to the financial markets and growth?

    The tax cuts you are trumpeting are calculated to add $1,000,000,000 to the deficit.

    These same tax cuts are temporary for me and you, and permanent for corporations.

    Don't look at the politics. The economy is currency green, not red of blue. Look at the long term impact of the economy.

    Steady controlled economic growth is good. Inflation and deficits are bad.
     
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  7. rock_castle

    rock_castle Life, liberty, and the pursuit of happiness

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    Yes he has! MAGA!!
     
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  8. Biggsly

    Biggsly Good looking deplorable

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    I can't wait to hear how the cocaine commie gets credit for North Korea.
     
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  9. snerd

    snerd Horselover Fat

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    You mean to tell me, only a select few know to buy low and sell high?!?! :jumpingjacks:
     
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  10. Wolfie38S

    Wolfie38S

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    Yes the Trump Team, his boys are making cash and his GOP Congressman was recently arrested for making illegal trades in the White House.

    But hey, he is white and GOP and as we all know here, Republicans can do anything they want.
     
  11. snerd

    snerd Horselover Fat

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    [​IMG]
     
  12. Wolfie38S

    Wolfie38S

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    I just hope they don't treat us the way we treated them when they take power.
     
  13. Ramjet38

    Ramjet38 Mentally Frozen

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    Obama said he did it.



    :animlol::animlol::animlol::animlol:
     
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  14. snerd

    snerd Horselover Fat

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    You're way behind man................... we're presently treating them the way they treated us!!
     
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  15. Ramjet38

    Ramjet38 Mentally Frozen

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    “When somebody says like the person you just mentioned who I’m not going to advertise for, that he’s going to bring all these jobs back. Well how exactly are you going to do that? What are you going to do? There’s no answer to it,” Obama said, refusing to even say Trump’s name.

    “He just says, ‘I’m going to negotiate a better deal.’ Well how? How exactly are you going to negotiate that? What magic wand do you have? And usually the answer is, he doesn’t have an answer,” Obama continued condescendingly.
     
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  16. glockman66

    glockman66

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  17. jeanderson

    jeanderson Making America great again! Platinum Member

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  18. robhic

    robhic I'm your huckleberry.... Platinum Member

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    That's all I need! Eight years of the most stagnant, static everything and this clown wants me to believe HIM? Damn right! He's the smartest man in the world!!!
     
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  19. glockman66

    glockman66

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    Last edited: Sep 8, 2018
  20. mboylan

    mboylan

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    We are on track for 2.9% yearly GDP growth. One quarter ago we were on track for 2.8%.