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Is the Trump Boom just starting?

Bucky

Bucky

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Our economy has been stagnant under Obama and Bush - particularly for the middle class. This is an undeniable fact.

Here is what Trump has done:

"While there have been some hiccups, overall the Trump administration is on track to finish the first phase (of his regulatory reform program) with $645 million in net annual regulatory savings."

That might not sound like much in a federal budget usually denominated in the trillions of dollars. But consider this: During President Obama's years in office, more than 22,700 regulations were imposed on Americans at an astounding cost to American consumers, businesses and workers of "more than $120 billion each and every year," wrote Heritage Foundation Fellow Diane Katz earlier this year.

"The actual costs are far greater," writes Katz, "both because the impacts have not been fully quantified for a significant number of rules, and because many of the worst effects — the loss of freedom and opportunity — are incalculable
Click to expand...

http://www.investors.com/politics/editorials/regulations-cut-another-yuuuge-trump-promise-fulfilled/

Average growth rate under Obama was a pitiful 1.8% GDP. Under Trump, it is nearly doubled, and likely will hit 4%.

4% avergage GDP growth rate is something we haven't seen since LBJ and Kennedy!

https://www.cnbc.com/2017/05/25/how...wth-target-compares-with-past-presidents.html
 
Bucky said:
Our economy has been stagnant under Obama and Bush - particularly for the middle class. This is an undeniable fact.

Here is what Trump has done:



The Economy Responds Trump Keeps His Promise To Slash Regulations | Stock News & Stock Market Analysis - IBD

Average growth rate under Obama was a pitiful 1.8% GDP. Under Trump, it is nearly doubled, and likely will hit 4%.

4% avergage GDP growth rate is something we haven't seen since LBJ and Kennedy!

https://www.cnbc.com/2017/05/25/how...wth-target-compares-with-past-presidents.html
Click to expand...

Source for this claim?
 
roughdraft274 said:
Source for this claim?
Click to expand...

It is 3.2% and we haven't even received tax reform yet. When you look at the stock market, it is continuously hitting all-time highs. Banks like Chase, BOA, Wells Fargo are ramping up.

T-Mobile and Sprint are likely merging before the end of the year, something I see the Trump administration not blocking. These are all good things for the economy. Something we would have never seen with a regulation queen in Hillary Clinton
 
Bucky said:
It is 3.2% and we haven't even received tax reform yet. When you look at the stock market, it is continuously hitting all-time highs. Banks like Chase, BOA, Wells Fargo are ramping up.

T-Mobile and Sprint are likely merging before the end of the year, something I see the Trump administration not blocking. These are all good things for the economy. Something we would have never seen with a regulation queen in Hillary Clinton
Click to expand...

We have been hitting stock market highs before Trump even took office.

And it was only 3.2% for the second quarter unless I'm mistaken. That's a far cry from a year to year 4% gdp growth. Obama had multiple quarterly growths of anywhere from 4% to alittle over 5ish% if memory serves. If you think you can figure out the yearly GDP based on a single quarter I think you might be mistaken, though I suppose stranger things have happened.
 
roughdraft274 said:
We have been hitting stock market highs before Trump even took office.

And it was only 3.2% for the second quarter unless I'm mistaken. That's a far cry from a year to year 4% gdp growth. Obama had multiple quarterly growths of anywhere from 4% to alittle over 5ish% if memory serves. If you think you can figure out the yearly GDP based on a single quarter I think you might be mistaken, though I suppose stranger things have happened.
Click to expand...

Obama never hit 3%
 
George W. Bush presided over the worst economic crash since the 1929 Great Depression

Obama presided over a period of time in which we were all somehow saved from worse

Trump will reverse the course and take the American economy back to where W. left us immediately pre Obama


gotta luv how those Republicans crash the goddamn economy ...................
 
RetiredUSN said:
Obama never hit 3%
Click to expand...

He hit above 3% on numerous quarters and above 3% for a 12 month period twice. But never hit 3% on any year to year annual gdp. If you think otherwise I can provide sources showing the quarterly GDP's if you need them.
 
Bucky said:
It is 3.2% and we haven't even received tax reform yet. When you look at the stock market, it is continuously hitting all-time highs. Banks like Chase, BOA, Wells Fargo are ramping up.

T-Mobile and Sprint are likely merging before the end of the year, something I see the Trump administration not blocking. These are all good things for the economy. Something we would have never seen with a regulation queen in Hillary Clinton
Click to expand...

So if he hasn't actually done anything yet, why does he get credit?
 
Bucky said:
Our economy has been stagnant under Obama and Bush - particularly for the middle class. This is an undeniable fact.

Here is what Trump has done:



The Economy Responds Trump Keeps His Promise To Slash Regulations | Stock News & Stock Market Analysis - IBD

Average growth rate under Obama was a pitiful 1.8% GDP. Under Trump, it is nearly doubled, and likely will hit 4%.

4% avergage GDP growth rate is something we haven't seen since LBJ and Kennedy!

https://www.cnbc.com/2017/05/25/how...wth-target-compares-with-past-presidents.html
Click to expand...

The problem is...you are relying on faulty statistics and your numbers are just simply wrong. GDP Growth hit over 3% 8 times during Obama's administration. It also has to take into account that when Obama took office GDP was running at a minus 5%. You are relying on "fake news".

http://fortune.com/2017/08/30/donald-trump-springfield-mo-3-gdp/
 
Bucky said:
It is 3.2% and we haven't even received tax reform yet. When you look at the stock market, it is continuously hitting all-time highs. Banks like Chase, BOA, Wells Fargo are ramping up.

T-Mobile and Sprint are likely merging before the end of the year, something I see the Trump administration not blocking. These are all good things for the economy. Something we would have never seen with a regulation queen in Hillary Clinton
Click to expand...


The stock market hit all time highs consistently under Obama as well. Doh!
 
cuban smokes said:
George W. Bush presided over the worst economic crash since the 1929 Great Depression

Obama presided over a period of time in which we were all somehow saved from worse

Trump will reverse the course and take the American economy back to where W. left us immediately pre Obama


gotta luv how those Republicans crash the goddamn economy ...................
Click to expand...
Trump is still riding on Obama's coat tails until Oct 1. After that it's up to Trump. Time will tell.
 
disneydude said:
Thats just simply wrong. GDP under Obama hit well over 3% at least 8 times during his administration.
Click to expand...

What was the average growth disneydude. Oh wait, I already posted that in the OP.

The average growth was paultry.
 
Bucky said:
Our economy has been stagnant under Obama and Bush - particularly for the middle class. This is an undeniable fact.
Click to expand...

Wrong, wrong and wrong.

In terms of job-growth, the US economy created none from 2010 to 2014. Why?

Because in 2010, after ARRA has stopped dead an exploding unemployment rate by means of $870B in government expenditure, Obama saw that employment was not growing. As shown here in the Employment to population Ratio:
latest_numbers_LNS12300000_2007_2017_all_period_M08_data.gif
.

He asked the HofR (where budget-spending starts) for more Stimulus Spending. What he got from the Replicants was a lecture on Austerity Budgeting. Without Stimulus Spending, there would be no more jobs created, which is EXACTLY what the Replicants wanted in 2011, because they wanted high unemployment to unseat Obama in 2012.

Didn't work out that way, did it. The economy had lost 8.7 million jobs between the start of the recession in December 2007 and early 2010.

So, for four longgggg years (2010 to 2014) NO JOBS WERE CREATED because the Replicants would not vote the stimulus money.

Then, in 2014, the American consumers (all by themselves) had enough of austerity and decided to start spending as well. The Employment-to-population Ratio as shown above recuperated from its low of 58.5% to 60.2% - and Obama was still in office!

If one extends that line (and yes I plotted the graphic and did so), the US E-to-p Ratio gets back to the 2007 levels (63%) sometime between 2024 and 2025. Why so long? Because those jobs that were destroyed were largely in manufacturing, and they aint comin back from southeast Asia to where they went . . .

So, enough of the BS please ...
 
Bucky said:
What was the average growth disneydude. Oh wait, I already posted that in the OP.

The average growth was paultry.
Click to expand...

You've got a problem with "short-term" memory.

You seem to have conveniently forgot that Obama was handed a first-class Great Recession from Replicant knot-head Dubya.

It would help the discussion if you got your historical facts right - after all this is an Economics debate-forum ...
 
Lafayette said:
You've got a problem with "short-term" memory.

You seem to have conveniently forgot that Obama was handed a first-class Great Recession from Replicant knot-head Dubya.

It would help the discussion if you got your historical facts right - after all this is an Economics debate-forum ...
Click to expand...

So...... you want to grade on a curve?
 
THE RICH GET RICHER

Bucky said:
Our economy has been stagnant under Obama and Bush - particularly for the middle class. This is an undeniable fact.

Average growth rate under Obama was a pitiful 1.8% GDP. Under Trump, it is nearly doubled, and likely will hit 4%.

4% avergage GDP growth rate is something we haven't seen since LBJ and Kennedy!
Click to expand...

You forgot to mention that Obama inherited from Dunderhead Dubya in 2008 the worst recession since the 1930s, when he was sworn into office. By passing ARRA (with a Democrat HofR) in 2009 he spiked an exploding Unemployment Rate at 10%. (See here, from the BLS.)

That wasn't enough, however - after all, it was a very deep recession. American voters blindly gave the HofR over to the Replicants in 2010. So, when Obama wanted to spend more to get the Employment-to-population Ratio back up to 63% (see BLS stats here), what did the Replicants in the HofR tell him in 2011?

"Go shovel shat!" They wanted to take him down in the 2012 presidential election so a bad economy would only help that design. But, it didn't happen that way, did it?

If you will look once again at the Employment-to-population Ratio, after 2012 (and without further Stimulus Spending) the economy did not add jobs for four long years until 2014 when the economy started creating jobs again (2014/15/16) - three full years before Obama left office.

So, please, enough of the BS about Obama's pitiful growth rate history - it was Dubya's idiotic reign in DC that was the cause!!! And willful Replicant intention in the HofR that made the unemployment pain last!

You've got a bad case of economic history-myopia that suits your partisan notions that only the Replicants "do things right".

Yeah, rather, "Do things on the RIGHT!" By whacking down upper income taxation so the massively-rich can get richer - and the poor can go to hell ...
 
Bucky said:
Our economy has been stagnant under Obama and Bush - particularly for the middle class. This is an undeniable fact.
Click to expand...

False. It was destroyed under Bush, it got a lot better under Obama, and it's still gaining steam thanks almost entirely to the actions of Obama and Congressional Democrats back in 2009 and 2010.

Bucky said:
Here is what Trump has done:
Click to expand...

Nothing. Trump has not passed a single solitary piece of significant economic legislation whatsoever, and even if he had it would be way too early on in his Presidency to have had any meaningful effect. The reality is that our economy is doing very well right now, and it really has no where to go but down. When that happens Trump will be forced to own it.
 
RetiredUSN said:
Obama never hit 3%
Click to expand...
You are confusing quarter changes with average annual changes. Under Obama, there were several quarters of 3% or more growth. You just didn't pay attention because it was Obama.

fredgraph.png
 
The OP's claim is that Trump did something (unspecified) to turn Obama's "disastrous economy" (Trump's words "I inherited a mess") into something miraculous. Below is a graph of real GDP growth during the Obama and Trump presidencies. Notice how GDP growth was "a mess" during Obama and shot up after Trump became president? Me neither.

The reality (e.g. the real world) is that Trump hasn't changed direction very much at all. He has passed no significant economic policies and is essentially living under Obama's tax policy and spending policies. So, if Trump is praising the current economy, he should be saying, "Thanks Obama!"

fredgraph.png
 
Bucky said:
It is 3.2% and we haven't even received tax reform yet. When you look at the stock market, it is continuously hitting all-time highs. Banks like Chase, BOA, Wells Fargo are ramping up.

T-Mobile and Sprint are likely merging before the end of the year, something I see the Trump administration not blocking. These are all good things for the economy. Something we would have never seen with a regulation queen in Hillary Clinton
Click to expand...

Stocks are in another bubble and have been going up for years.
T-Mobile and Sprint merging is a disaster. AT&T and Verizon should be broken up. More competition not less.
Tax Reform will happen for the rich, not for the middle class. That is if it happens.. after all Obamacare repeal was going to happen as well, and failed so many times.
As for the banks ramping up.. err sure.
 
PeteEU said:
Stocks are in another bubble and have been going up for years.
T-Mobile and Sprint merging is a disaster. AT&T and Verizon should be broken up. More competition not less.
Tax Reform will happen for the rich, not for the middle class. That is if it happens.. after all Obamacare repeal was going to happen as well, and failed so many times.
As for the banks ramping up.. err sure.
Click to expand...

The Tmobile sprint merger has yet to be approved.
the only bad part of that deal is that sprint network stinks. tmobile is buying into a ton of upgrades that have to be done and a ton of tower migrations
from cdma to GPS.

ATT and verizon are not breaking anti-trust laws and there are already a ton of 2nd and minor cell phone companies that people
can choose from.

here in the next few months you will see a market adjustment for sure people are going to pull back and take their gains.
then it will ramp back up again.
 
It's the result of speculation around the promise of tax reform.

The market will not only slow down, but could potentially take a negative turn towards a recession if that promise is not upheld, or delayed for more than 2 years total. The economy will stagnate around this time next year if the tax reforms are not passed.
 
Blissfully Free said:
It's the result of speculation around the promise of tax reform.

The market will not only slow down, but could potentially take a negative turn towards a recession if that promise is not upheld, or delayed for more than 2 years total. The economy will stagnate around this time next year if the tax reforms are not passed.
Click to expand...

But the markets have been going up for years, as has employment.. it is only now that tax reform maybe be realistic.. well GOP tax cuts, not real reform. Trump supporters are really desperate to show that their orange monkey in charge is actually doing something instead of playing golf all the time.
 
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