The Economy is Crashing -- Trump and the Repubs in Congress Own it

That's funny, I don't recall any conservatives "screaming" about FIAT currency and deficits since Trump took office. Not even after he put borrowing in overdrive by passing his tax cuts. In fact, I recall our conservative friends all heavily lobby for the tax cuts, with the idea that they would pay for themselves. Now you start lecturing us about borrow and spend, the typical GOP MO?

 

Point?

 

You mean the one that started a year after the Democrats took control of the Congress? A year to pass legislation to help mitigate the slowdown and lessen the effects of the recession before it even began and then after it began to pass legislation to help get us out of it and into a full recovery? Why do you call it the "Bush" recession instead of it's proper name, the 2008/2009 recession?

That was the problem those Democrat policies did not get us into a full vibrant recovery so it was too little by too little after YEARS in began to recovery in spite of the Democrats and more because the Republicans began to take by political power.

Yes two years after the Democrats lost the Congress and the Republicans started taking control.

Nope it needed more than that and what they have done has helped so far now let's see if as in the past the lower tax rates will get the economy back in gear and bring in strong tax revenue growth and as before either have extremely low deficits if not surpluses.

 

Nice red herring attempt, but the truth hurts doesn't it?

 

Peak employment? You mean loss of employment. Trump's trade wars will result in higher prices. Higher prices creates less demand. Less demand, less jobs.

 

And Obama's stock market was 8,000 points above Bush's. Yeah, that one. The one with the worst March in 17 years and the worst quarter in two years.

An why is this happening? Trump tariffs that he announced on March 8.

You were saying?

 

Well you titled this thread "The Economy is Crashing-" so I assume you think that the economy, is in fact crashing. So will the economy be worst at the end of the year than it is now?

 

So you think the economy is going to be OK until next year. Interesting.

 

Wasn't it the Left that was saying what happens on Wall Street isn't indicative of what's happening on Main Street?

If that's the case, it's a little duplicitous to be blaming Trump for the stock market going down.

 

Pretty sure that is less than 4000 now and falling.

 

Ummm. No it's not crashing.

 

Took Obama 8 years.... Trump outperformed Obama's number in 1 year. And yes, the market has given back some and will likely give back some more before it resumes its ascend, that's what markets do after they go too far too fast. Pullbacks, profit taking, corrections are normal, inevitable and healthy, they prevent bubbles.

 

Well, the budget deficits are really not good for the long-term outcome of the economy.

 

Nope, still 5800 above where it was Nov 7, 2016.

 

Bush has a lot more in common with Obama than he does with Trump, so you won't hear me praising Bush.

It's about time the country stopped grabbing it's ankles whenever someone throws tariffs on us.

 

..is obvious.

 

You mean relentlessly back to where it was before 2008.

Oh. Up.

 

Thought Obama was in office a little beyond that. Do you want to double check that? And you might want to get some help with your numbers as your ability to subtract one number from another appears to be off by 1200+ even given your dates.

 

Yes sir, Obama's policies created 11 million jobs. Only trouble is, they didn't tell you what kind of jobs they were. Here, see what they aren't telling you.

The deep recession wiped out primarily high-wage and middle-wage jobs. Yet the strongest employment growth during the sluggish recovery has been in low-wage work, at places like strip malls and fast-food restaurants.

In essence, the poor economy has replaced good jobs with bad ones. That is the conclusion of a new report from the National Employment Law Project, a research and advocacy group, analyzing employment trends four years into the recovery.

“Fast food is driving the bulk of the job growth at the low end — the job gains there are absolutely phenomenal,” said Michael Evangelist, the report’s author. “If this is the reality — if these jobs are here to stay and are going to be making up a considerable part of the economy — the question is, how do we make them better?”

The report shows that total employment has finally surpassed its pre-recession level. “The good news is we’re back to zero,” Mr. Evangelist said.

But job losses and gains have been skewed. Higher-wage industries — like accounting and legal work — shed 3.6 million positions during the recession and have added only 2.6 million positions during the recovery. But lower-wage industries lost two million jobs, then added 3.8 million.
HTTPS://www.nytimes.com/…/recovery-has-created-far-more-low…

 

It closed at close to 23600 or something today. Still way higher than it's ever been in history.

 

11/8/2016 - 18,847
1/20/2017 - 19,827
Today - 23,644

 

Help me understand. Are lefties here happy or sad?

 

When it gets down to Obama levels let us know.

 

the FED has everything to do with the past eight years and the next eight. Administrations have little to do with it.

 

I'll say now what I said when Trumpeters were heralding a soaring stock market as "the Trump economy" -- the stock market is a poor proxy for the economy. We shouldn't conflate the two. Funny how Trumpeters refused to listen until the market dipped, then suddenly they were singing the same tune or trying to backtrack and say that, never mind, this was still the Obama economy. The stock market is far, far more sensitive than, say, GDP.

This is not to say that I think the tariffs or petty business vendettas of Trump's will be good for the economy (anyone familiar with my post history knows I feel the opposite), but recent dips in the stock market don't tell us much more than the fact that, in the short term, investors probably feel the same way.