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The Trump Economy: 3.2% GDP 1st Qtr 2019

JustBecause

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High Plains Drifter

High Plains Drifter 11050

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On 4/28/2019 at 12:24 PM, GRHorn said:

 

The fact is, Obama is the only President to have the luxury of a zero interest rate environment as a tailwind to the economy during his term.  And, he had it essentially his entire two terms. 

 

 

God Gawd Almighty. The guy who inherited a broken leg won a marathon, but he wasn't so great because he was the only runner with the luxury of a crutch.

 

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High Plains Drifter

High Plains Drifter 11050

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2 hours ago, Fudge Nuggets said:

The Dow fell about 900 points in a few minutes after TARP was originally voted down.  There was no other choice but to pass it unless you wanted to see the entire global economy come to a screeching halt.

 

Burn it down! Burn it down!

 

Translation: Bread lines and 30% unemployment! Brad lines and 30% unemployment!

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High Plains Drifter

High Plains Drifter 11050

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4 minutes ago, Foosters said:

Better yet, just tell them the economy is good. Won't cost us a dime.

You're right. Those farmers can go work in the coal min-- uh I mean, they can work in the auto plan---- uh  I mean they can re-shingle houses along the gulf coast after the next hurricane. Yeah that's it.

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GRHorn

GRHorn 105

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1 hour ago, Biff Tannen said:

Man, I remember when I was young and ventured into the cloak room and posted shit like I knew what I was talking about.  Granted, I still don't know what I'm talking about, but at least I only post movie references and ask occasional questions.

You’re not allowed to ask questions. 

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Js1

Js1 85462

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3 minutes ago, David Dennison said:

Just like team red when the economy was doing exactly the same when Obama was president.

 

Yawn.

Call me when Team Blue starts making up statistics and saying the DOL is lying and the REAL ECONOMY is doing poorly.  

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David Dennison

David Dennison 18941

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Just now, Js1 said:

Yawn.

Call me when Team Blue starts making up statistics and saying the DOL is lying and the REAL ECONOMY is doing poorly.  

Team Blue doesn't need to make anything up about the Obama economy.

It's going to be funny when Team Red tries to blame him for the Trump recession.

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Brisketexan

Brisketexan 105190

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1 minute ago, Js1 said:

Yawn.

Call me when Team Blue starts making up statistics and saying the DOL is lying and the REAL ECONOMY is doing poorly.  

This.

And bragging about how fat we're getting....because we're eating our seed stock....well, there's a big problem embedded in there, ain't it?

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jimmyjazz

jimmyjazz 46006

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2 minutes ago, Js1 said:

Yawn.

Call me when Team Blue starts making up statistics and saying the DOL is lying and the REAL ECONOMY is doing poorly.  

Remember when U3 was widely disregarded?  Yeah, that seems like a while ago.  Like, 2 years.

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ChiTownDoc

ChiTownDoc 21154

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3 hours ago, sidis said:

you trying to square this with your cult of personality-like devotion to trump policies when he engages in outright protectionism and directly subsidizes entire industries that lose out as a result is almost as dizzying as your declaration that unrestrained capitalism is the greatest economic system in the history of the world and "look at all the cranes!" while claiming that the allocators of that capital "produce jack shit."

which all pale in comparison to your meme about democratic socialists and nazis.

congrats.  you're killing it on this page.

Get's thoroughly destroyed...

3 hours ago, Zavala said:

Please put me on ignore, I'll do the same for you.

Thanks.

Kindly asks guy who lit him up to please leave him alone.  LOL

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workswithseed

workswithseed 2109

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56 minutes ago, David Dennison said:

Of course not. Are you under the impression that the United States, capitalist Mecca, has no bread lines? 

Nah, I'm just wondering if you thought capitalism hasn't made of an abundance of of food to make it cheaper which helps everyone.

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ChiTownDoc

ChiTownDoc 21154

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37 minutes ago, David Dennison said:

That isn't good enough in this country. No one should ever be hungry.

Nobody should starve.  A little hunger helps.  I remember sharing a frozen el charrito dinner with my brother some nights.  I never thought we were poor.  But those evenings I was a little hungry.  That feeling helped a lot...

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horn4life

horn4life 3779

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Posted (edited)

Sure is nice when a GOP President inherits a vibrant and growing economy thanks to 8 years of Dem President.  Unlike the shit show GWB handed to Obama for example economically.

What's funny as shit is back in November a Trump lover was bragging on the economy and I very simply said, well I just wish he had created as many jobs in the last 20 months as Obama did in his last 20 months.  The guy freaked and simply said he did not like my facts.  Of course that's the problem with a lot of Trumpsters, they say things and believe things that simply are not factual. But they fervently believe them, simply because they have no interest whatsover in knowing what the actual facts are.  

The "Trump Economy" looks a LOT like the Obama economy doesn't it?  Of course Trump and the GOP borrowed a shit ton on money to pile on the national debt to achieve basically the same results as Obama.  It's good to actually know shit. I am really hoping that Trump can eventually create more jobs than Obama did.  But it's a fucking JOKE to pretend the Economy was not nearly exactly the same under Obama, as the one Republicans as crowing is the greatest ever.  I never understood lying to myself, any more than I did cheating to win.  It's funny that so many Trumpsters are so ignorant of the factual information time and time again.

Quote

As for the political implications, Donald Trump has now been in office for 27 full months – February 2017 through April 2019 – and in that time, the economy has created 5.4 million jobs. In the 27 full months preceding Trump’s presidency – November 2014 to January 2017 – the economy created 5.85 million jobs.

5.3.19.png?itok=qGn_sLoW

Edited by horn4life
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yoladu

yoladu 4094

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Posted
On 5/4/2019 at 11:27 AM, horn4life said:

Sure is nice when a GOP President inherits a vibrant and growing economy thanks to 8 years of Dem President.  Unlike the shit show GWB handed to Obama for example economically.

What's funny as shit is back in November a Trump lover was bragging on the economy and I very simply said, well I just wish he had created as many jobs in the last 20 months as Obama did in his last 20 months.  The guy freaked and simply said he did not like my facts.  Of course that's the problem with a lot of Trumpsters, they say things and believe things that simply are not factual. But they fervently believe them, simply because they have no interest whatsover in knowing what the actual facts are.  

The "Trump Economy" looks a LOT like the Obama economy doesn't it?  Of course Trump and the GOP borrowed a shit ton on money to pile on the national debt to achieve basically the same results as Obama.  It's good to actually know shit. I am really hoping that Trump can eventually create more jobs than Obama did.  But it's a fucking JOKE to pretend the Economy was not nearly exactly the same under Obama, as the one Republicans as crowing is the greatest ever.  I never understood lying to myself, any more than I did cheating to win.  It's funny that so many Trumpsters are so ignorant of the factual information time and time again.

5.3.19.png?itok=qGn_sLoW

I understand why you posted this graph.. sustained and consistent job growth for 6 years under Obama and 2 years under Trump, but good lord, 2008 and 2009 was a shit show.

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Fudge Nuggets

Fudge Nuggets 19210

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58 minutes ago, yoladu said:

I understand why you posted this graph.. sustained and consistent job growth for 6 years under Obama and 2 years under Trump, but good lord, 2008 and 2009 was a shit show.

Yes it was.  There were some articles and even a couple of books written about it.

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pyrohornIII

pyrohornIII 4817

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Quote

The Untold Story of Trump’s ‘Booming’ Economy

Leo Gerrard / Independent Media Institute/May 3, 2019

Americans are not happy, and for good reason: They continue to suffer financial stress caused by decades of flat income. And every time they make the slightest peep of complaint about a system rigged against them, the rich and powerful tell them to shut up because it is all their fault.

One percenters instruct them to work harder, pull themselves up by their bootstraps and stop bellyaching. Just get a second college degree, a second skill, a second job. Just send the spouse to work, downsize, take a staycation instead of a real vacation. Or don’t take one at all, just work harder and longer and better.

The barrage of blaming has persuaded; workers believe they deserve censure. And that’s a big part of the reason they’re unhappy. If only, they think, they could work harder and longer and better, they would get ahead. They bear the shame. They don’t blame the system: the Supreme Court, the Congress, the president. And yet, it is the system, the American system, that has conspired to crush them.

Yeah, yeah, yeah, unemployment is low and the stock market is high. But skyrocketing stocks benefit only the top 10 percent of wealthy Americans who own 84 percent of stocks. And while more people are employed now than during the Great Recession, the vast majority of Americans haven’t had a real raise since 1979.

It’s bad out there for American workers. Last month, their ranking dropped for the third year running in the World Happiness Report, produced by the Sustainable Development Solutions Network, a UN initiative.

These sad statistics reinforce those in a report released two years ago by two university professors. Reviewing data from the General Social Survey, administered routinely nationally, the professors found Americans’ assessment of their own happiness and family finances has, unambiguously, declined in recent years.

But if Americans would just work harder, everything would be dandy, right?

No. Not right. Americans work really, really hard. A third of Americans work a side hustle, driving an Uber or selling crafts on Etsy. American workers take fewer vacation days. They get 14, but typically take only 10. The highest number of workers in five years report they don’t expect to take a vacation at all this year. And Americans work longer hours than their counterparts in other countries.

Americans labor 137 more hours per year than Japanese workers, 260 more than Brits, and 499 more than the French, according to the International Labor Organization.

And the longer hours aren’t because American workers are laggards on the job. They’re very productive. The U.S. Bureau of Labor Statistics calculates that the average American worker’s productivity has increased 400 percent since 1950.

If pay had kept pace with productivity, as it did in the three decades after the end of World War II, American workers would be making 400 percent more. But they’re not. Their wages have flatlined for four decades, adjusting for inflation.

That means stress. Forty percent of workers say they don’t have $400 for an unexpected expense. Twenty percent can’t pay all of their monthly bills. More than a quarter of adults skipped needed medical care last year because they couldn’t afford it. A quarter of adults have no retirement savings.

If only Americans would work harder. And longer. And better.

Despite right-wing attempts to pound that into Americans’ heads, it’s not the solution. Americans clearly are working harder and longer and better. The solution is to change the system, which is stacked against workers.

Workers are bearing on their backs tax breaks that benefited only the rich and corporations. They’re bearing overtime pay rules and minimum wage rates that haven’t been updated in more than a decade. They’re weighted down by U.S. Supreme Court decisions that hobbled unionization efforts and kneecapped workers’ rights to file class-action lawsuits. They’re struggling under U.S. Department of Labor rules defining them as independent contractors instead of staff members. They live in fear as corporations threaten to offshore their jobs—with the assistance of federal tax breaks.

Last year, the right-wing majority on the U.S. Supreme Court handed a win to corporatists trying to obliterate workers’ right to organize and collectively bargain for better wages and conditions. The court ruled that public sector workers who choose not to join unions don’t have to pay a small fee to cover the cost of services that federal law requires the unions provide to them. This bankrupts labor unions. And there’s no doubt that right-wingers are gunning for private sector unions next.

This kind of relentless attack on labor unions since 1945 has withered membership. As it shrank, wages for both union and nonunion workers did too.

Also last year, the Supreme Court ruled that corporations can deny workers access to class-action arbitration. This compels workers, whom corporations forced to sign agreements to arbitrate rather than litigate, into individual arbitration cases, for which each worker must hire his or her own lawyer. Then, just last week, the right-wing majority on the court further curtailed workers’ rights to class-action suits.

In a minority opinion, Justice Ruth Bader Ginsburg wrote that the court in recent years has routinely deployed the law to deny to employees and consumers “effective relief against powerful economic entities.”

No matter how hard Americans work, the right-wing majority on the Supreme Court has hobbled them in an already lopsided contest with gigantic corporations.

The administrative branch is no better. Just last week, the Trump Labor Department issued an advisory that workers for a gig-economy company are independent contractors, not employees. As a result, the workers, who clean homes after getting assignments on an app, will not qualify for federal minimum wage (low as it is) or overtime pay. Also, the corporation will not have to pay Social Security taxes for them. Though the decision was specific to one company, experts say it will affect the designation for other gig workers, such as drivers for Uber and Lyft.

Also, the Labor Department has proposed a stingy increase in the overtime pay threshold—that is, the salary amount under which corporations must pay workers time and a half for overtime. The current threshold of $23,660 has not been raised since 2004. The Obama administration had proposed doubling it to $47,476. But now, the Trump Labor Department has cut that back to $35,308. That means 8.2 million workers who would have benefited from the larger salary cap now will not be eligible for mandatory overtime pay.

It doesn’t matter how hard they work; they aren’t going to get the time-and-a-half pay they deserve.

Just like the administration and the Supreme Court, right-wingers in Congress grovel before corporations and the rich. Look at the tax break they gave one percenters in 2017. Corporations got the biggest cut in history, their rate sledgehammered down from 35 percent to 21 percent. The rich reap by far the largest benefit from those tax cuts through 2027, according to an analysis by the Tax Policy Center. And by then, 53 percent of Americans—that is, workers, not rich people—will pay more than they did in 2017 because tax breaks for workers expire.

The White House Council of Economic Advisers predicted the corporate tax cut would put an extra $4,000 in every worker’s pocket. They swore that corporations would use some of their tax cut money to hand out raises and bonuses to workers. That never happened. Workers got a measly 6 percent of corporations’ tax savings. In the first quarter after the tax cut took effect, workers on average received a big fat extra $6.21 in their paychecks, for an annual total of a whopping $233. Corporations spent their tax breaks on stock buybacks, a record $1 trillion worth, raising stock prices, which put more money in the pockets of rich CEOs and shareholders.

That’s continuing this year. Workers are never going to see that $4,000.

No wonder they’re unhappy. The system is working against them.

https://www.truthdig.com/articles/the-untold-story-of-trumps-booming-economy/

 

 

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sidis

sidis 9832

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2 hours ago, yoladu said:

I understand why you posted this graph.. sustained and consistent job growth for 6 years under Obama and 2 years under Trump, but good lord, 2008 and 2009 was a shit show.

pshhh, someone doesn't know a "tailwind" when he sees it...

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elfenix

elfenix 34331

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Posted
On 5/3/2019 at 4:04 PM, workswithseed said:

Nah, I'm just wondering if you thought capitalism hasn't made of an abundance of of food to make it cheaper which helps everyone.

$867 billion farm bill says 'hi'

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Mo Horn

Mo Horn 8853

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My son works for a Fortune 500 company that does international shipping based at dfw. He says the last month or two his outgoing has been way down. He used to have to beg for cargo space from airlines, and sometimes things would have to wait a day or two. Now airlines are coming to him offering great rates and begging for his business. His cargo is about half of what it was last year. The economy is great right now, but at least in his business it is slowing drastically. Maybe a sign of things to come. 

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horn4life

horn4life 3779

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On 5/6/2019 at 8:16 AM, yoladu said:

I understand why you posted this graph.. sustained and consistent job growth for 6 years under Obama and 2 years under Trump, but good lord, 2008 and 2009 was a shit show.

I agree- but probably not for the reason you wish.  I too was Surprised that Obama cound not come in and fix the most fucked up economy in 25 years, in six months!!! Especially with McConnell's STATED goal was have Obama be "a one term President, not to repair the economy. The GOP not wanting to provide extensive actual stimulus was a big part of this equation, instead tax cuts as always were the GOP cure were what was needed to bring the GOP into legislation. Legislation needed to fix the can they kicked down the road on their watch.  Of course tax cuts don't factor in much as any sort of stimulus for the unemployed, but were awesome for GOP donors!  Just like the current GOP stimulus via tax cuts stimulus plan.  I even notice a pattern here. Anyone else?  I am also happy that the Dems at least tried to take on a big issue, health care.  We are still (as always) waiting for the GOP's plan, until after then next election. Then the GOP lied about healthcare, created the falsehood of death panels and really tried to restrict spending and preserve tax cuts for the weatlthy. 

Austerity measures forced onto Obama by the GOP are of course the exact opposite of what the GOP does today.  When in total control we got massive deficit increases, massive tax decreases and no worries at all on the spending/borrowing side.  The reason is the GOP actually has no fiscal policy whatsover,  beyond spending massively in times of plenty when in power for political reasons.  And instisting on Austerity when out of power... for political reasons.  

So that's the more complete reason for the shit show.... and the GOP was the anus of the economic shit show during that period you refer to yolado.

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Biff Tannen

Biff Tannen 45697

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10 minutes ago, horn4life said:

I agree- but probably not for the reason you wish.  I too was Surprised that Obama cound not come in and fix the most fucked up economy in 25 years, in six months!!! Especially with McConnell's STATED goal was have Obama be "a one term President, not to repair the economy. The GOP not wanting to provide extensive actual stimulus was a big part of this equation, instead tax cuts as always were the GOP cure were what was needed to bring the GOP into legislation. Legislation needed to fix the can they kicked down the road on their watch.  Of course tax cuts don't factor in much as any sort of stimulus for the unemployed, but were awesome for GOP donors!  Just like the current GOP stimulus via tax cuts stimulus plan.  I even notice a pattern here. Anyone else?  I am also happy that the Dems at least tried to take on a big issue, health care.  We are still (as always) waiting for the GOP's plan, until after then next election. Then the GOP lied about healthcare, created the falsehood of death panels and really tried to restrict spending and preserve tax cuts for the weatlthy. 

Austerity measures forced onto Obama by the GOP are of course the exact opposite of what the GOP does today.  When in total control we got massive deficit increases, massive tax decreases and no worries at all on the spending/borrowing side.  The reason is the GOP actually has no fiscal policy whatsover,  beyond spending massively in times of plenty when in power for political reasons.  And instisting on Austerity when out of power... for political reasons.  

So that's the more complete reason for the shit show.... and the GOP was the anus of the economic shit show during that period you refer to yolado.

The Rs truly have no goals other than enriching themselves at the expense of the stupid.  It's quite incredible that they are able to get away with it.  We have half of our elected officials actively trying to undermine the country, the rule of law, and anyone not in the top 1%.


Could you imagine what we could get done if they participated in good faith?

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