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Keyword: trumpeconomy

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  • Robert Shiller: Recession Likely Years Away Due To Bullish Trump effect

    10/20/2019 4:56:40 PM PDT · by Kenny Bania · 16 replies
    CNBC ^ | October 20, 2019 | Stephanie Landsman
    Nobel-prize winning economist Robert Shiller believes a recession may be years away due to a bullish Trump effect in the market. According to the Yale University professor, President Donald Trump is creating an environment that’s conducive to strong consumer spending, and it’s a major force that should hold off a recession. Before the markets can take-off, Shiller stresses President Trump needs to get past the impeachment inquiry. He sees this as the biggest threat to his optimistic forecast. Yet, he’s sticking with the idea that the economy and markets should have a lot of runway left for gains if President...
  • Middle-Class Incomes Surging -- Thanks to Trump Policies

    10/17/2019 2:31:23 PM PDT · by Brown Deer · 20 replies
    The Heritage Foundation ^ | Oct. 10, 2019 | Stephen Moore
    Key Takeaways 1. Middle-class incomes, after adjusting for inflation, have surged by $5,003 since Donald Trump became president in January 2017. 2. These surges in income, have occurred at exactly the time when many liberal economists and media talking heads were shouting “recession.” 3. These latest income numbers also squarely contradict the claims by Democratic presidential candidates.
  • Braindead or Willfully Manipulative? How the Media Reported Retail Sales (fake news revealed)

    10/17/2019 7:35:26 PM PDT · by aimhigh · 2 replies
    Wolf Street ^ | 10/16/19 | Wolf Richter
    Like a centrally directed disinformation campaign. Here’s what happened. And it was everywhere. Misleading headlines about retail sales, from which reporters then extrapolated silly conclusions about the consumer while clamoring for a rate cut from the Fed. [Media reported] “U.S. retail sales unexpectedly posted the first decline in seven months, suggesting consumers are starting to become shaky as the main pillar of economic growth and potentially bolstering the case for a third straight Federal Reserve interest-rate cut.” The Commerce Department released its “Advance Estimates of U.S. Retail and Food Services” this morning. This is the first estimate for the month...
  • Soak the rich with taxes and everyone will get clobbered

    10/18/2019 7:40:58 AM PDT · by yesthatjallen · 18 replies
    The Hill ^ | 10/18/19 | Stephen Moore and Arthur Laffer
    Not that long ago there was a broad political consensus that a fair and economically efficient tax system has a broad tax base and low tax rates. The grand bargain was no special interest loopholes and low tax rates to boost the economy and jobs. As recently as the 1980s, Democrats and Republicans alike joined together to pass a tax reform that lowered income tax rates to 28 percent, while eliminating deductions and carve outs. Nearly every Senate Democrat, including Ted Kennedy, Al Gore, Joe Biden, Bill Bradley, and Howard Metzenbaum, voted for this new tax system. It worked. SNIP...
  • Barring a turnout surge, strong economy favors Trump in 2020, researchers say

    10/15/2019 1:53:17 PM PDT · by 2ndDivisionVet · 11 replies
    CNBC ^ | October 15, 2019 | Jason Lange
    WASHINGTON, Oct 15 (Reuters) - A strong U.S. economy could help President Donald Trump win re-election next year unless there is a surge in voter turnout, economic research firm Moody’s Analytics said on Tuesday. Across American universities and on Wall Street, researchers are honing computer models designed to predict the winner in the November 2020 election in which the Republican Trump will face a Democratic candidate still to be determined. What makes Moody’s Analytics stand out is its focus on local economic conditions, which have drawn attention this year as a U.S.-China trade war has hit America’s industrial heartland even...
  • Stephen Moore: What the (Dem) presidential candidates are missing is economic growth

    10/08/2019 6:03:49 AM PDT · by Sir Napsalot · 10 replies
    Washinton Times via RCP ^ | 10-8-2019 | Stephen Moore
    While running for president in 1960, John F. Kennedy campaigned against the moderate growth economy (2.5% annual GDP rise) in the last years of the Eisenhower administration. He appealed to Americans’ highest aspirations by saying in his typical Boston drawl: “We can do bettah.” JFK promised 4% and 5% rates of annual economic progress for the nation — and he delivered. Those were the days. What a contrast to the proposals and rhetoric from today’s presidential candidates. I’ve watched many hours of Democratic presidential debates and have yet to hear an impassioned plea for faster growth. Many of the candidates...
  • Trump’s Economy: 1.6 Million More Jobs Than The ‘Experts’ Predicted

    10/07/2019 8:59:15 AM PDT · by SeekAndFind · 10 replies
    Issues and Insights ^ | 10/07/2019 | John Merline
    The most surprising thing about the latest unemployment report isn’t that the rate dropped to the lowest level since December 1969. It’s that unemployment wasn’t supposed to get anywhere near that low under President Trump. At least, not if you believed mainstream Keynesian economists. The economy created 136,000 jobs in September, according to the Bureau of Labor Statistics survey of businesses. The separate household survey, which is used to track unemployment, showed that the number of unemployed dropped by 275,000. Not only did the job market pull 275,000 off the unemployment line last month, it pulled more than 100,000 who...
  • The Best Economic News No One Wants to Talk About

    10/05/2019 8:37:54 AM PDT · by Hojczyk · 8 replies
    Atlantic ^ | OCTOBER 05, 2019 | https://outline.com/LNgLSLDEREK THOMPSON
    It turns out that all three of those things are happening right now. According to analysis by Nick Bunker, an economist with the jobs site Indeed, wage growth is currently strongest for workers in low-wage industries, such as clothing stores, supermarkets, amusement parks, and casinos. And earnings are growing most slowly in higher-wage industries, such as medical labs, law firms, and broadcasting and telecom companies. Bunker’s analysis is not an outlier. A Goldman Sachs look at data from the Bureau of Labor Statistics found growth for the bottom half of earners at its highest rate of the cycle. And even...
  • U.S. Unemployment Rate Falls to 50-Year Low

    10/04/2019 3:37:17 PM PDT · by ransomnote · 12 replies
    whitehouse.gov ^ | 10/04/19 | Whitehouse
    U.S. Unemployment Rate Falls to 50-Year Low October 4, 2019 Today, the Bureau of Labor Statistics (BLS) released its monthly Employment Situation Report, which shows robust employment growth in September. Job gains are particularly noteworthy considering that the United States is in the midst of the longest economic recovery in its history. The Trump Administration’s pro-growth agenda provides job creators with the framework they need to expand their businesses and offer more opportunities for workers. Since the President’s election, the economy has added over 6.4 million jobs—more than the population of Maryland. Steady job growth in combination with sustained year-over-year wage...
  • Unemployment Rate Falls to Lowest Level Since 1948, U.S. Adds 136K in September (Unexepectedly)

    10/04/2019 6:07:14 AM PDT · by abb · 37 replies
    Peoples Pundit Daily ^ | October 4, 2019 | Staff
    Black, Hispanic Unemployment Rates at All-Time Lows The U.S. unemployment rate in September fell to 3.5%, the lowest level since May 1948, and total nonfarm payrolls increased by 136,000. The unemployment rate for black (5.5%) and Hispanic (3.9%) workers are at record lows. Forecasters were expecting a low of 120,000 to a high of 179,000. The consensus forecast was 145,000. However, the U.S. economy added more than 40,000 jobs than the last two jobs reports indicated. The labor force participation rate held steady at a very positive 63.2%, beating the consensus forecast expecting a 0.1% decline. The employment-population ratio, though...
  • President Trump Delivers Remarks at the Young Black Leadership Summit 2019 (4:30 est)

    10/04/2019 11:19:28 AM PDT · by yesthatjallen · 9 replies
    White House/Youtube ^ | 10/04/19 | White House
    President Trump Delivers Remarks at the Young Black Leadership Summit 2019 (4:30 est)
  • Trump attacks Fed as U.S. manufacturing index plunges to decade low

    10/01/2019 8:01:56 AM PDT · by RummyChick · 71 replies
    axios ^ | 10/1/2019 | basu
    President Trump on Tuesday renewed his attacks on the Federal Reserve and Chairman Jay Powell, after a key U.S. manufacturing gauge signaled the second consecutive month of sector-wide contraction. "As I predicted, Jay Powell and the Federal Reserve have allowed the Dollar to get so strong, especially relative to ALL other currencies, that our manufacturers are being negatively affected. Fed Rate too high. They are their own worst enemies, they don’t have a clue. Pathetic!" Driving the news: The ISM U.S. manufacturing Purchasing Managers’ Index fell from 49.1 in August to 47.8 in September, CNBC reports. Any reading below 50...
  • Trump’s Middle-Class Economic Progress

    09/30/2019 5:11:26 AM PDT · by karpov · 8 replies
    Wall Street Journal ^ | September 29, 2019 | Stephen Moore
    President Trump’s critics can’t deny that the economy is doing well, so instead they insist all the benefits have gone to the rich and large corporations. “America’s middle class is under attack,” Sen. Elizabeth Warren asserted in her presidential campaign announcement last December. The latest data from the Census Bureau monthly surveys tell a different story. Real median household income—the amount earned by those in the very middle—hit $65,084 (in 2019 dollars) for the 12 months ending in July. That’s the highest level ever and a gain of $4,144, or 6.8%, since Mr. Trump took office. By comparison, during 7˝...
  • Wilbur Ross: Left-wing media trying to 'trigger a recession'

    09/27/2019 4:22:21 AM PDT · by knighthawk · 8 replies
    Fox Business ^ | September 27 2019 | Jonathan Garber
    Commerce Secretary Wilbur Ross says liberal news organizations are ratcheting up recession fears in an effort to derail President Trump’s 2020 reelection bid. “A lot of the left-wing media are trying very desperately to encourage consumers to trigger a recession,” Ross told “WSJ at Large with Gerry Baker.” “I think they realize that's probably the only way they can hope to beat President Trump in 2020.” In mid-August, a widely followed recession indicator flashed a warning. The spread between the U.S. 2-year and 10-year yields turned negative for the first time since 2007, indicating bond buyers are more worried about...
  • Bloomberg on Recession Fears: 'U.S. Indicators Are Trouncing Forecasts'

    09/24/2019 10:17:50 AM PDT · by PJ-Comix · 3 replies
    Newsbusters ^ | September 24, 2019 | P.J. Gladnick
    Remember all the (hopeful) recession talk recently by many in the mainstream media who found it hard to hide their desire for bad economic times to harm President Donald Trump's 2020 re-election? Some, such as Bill Maher didn't even try to hide their hope for a recession. In fact Maher was publicly hoping for such a recession to stop Trump.  Well, sad news for them but very happy news for most others. Bloomberg on September 20 reported that such dire economic hype is not born out by the economic data in "Hold That Recession: U.S. Indicators Are Trouncing Forecasts" by Jeff Kearns and Steve Matthews.
  • Pennsylvania, Wisconsin lost the most factory jobs in the past year: report

    09/20/2019 12:17:06 PM PDT · by Leaning Right · 32 replies
    The Hill ^ | Sept 20, 2019 | JOHN BOWDEN
    Two swing states narrowly won by President Trump over Democratic nominee Hillary Clinton in 2016 were the sites of the greatest losses in manufacturing jobs between 2018 and 2019, according to data released Friday by the Labor Department. The agency's state employment survey found that Wisconsin has lost about 5,200 manufacturing jobs since August of last year. In Pennsylvania, losses of manufacturing jobs topped 7,700, according to the survey.
  • US Sees Big Jump in Personal Income

    09/17/2019 10:36:25 AM PDT · by Signalman · 12 replies
    Western Journal ^ | 9/16/2019 | Dick Morris
    Despite media reports that try to minimize our progress, household income in the United States has risen sharply since 2014. Back then, inflation-adjusted median household income stood at $55,913. In 2018, it was $63,179. This $7,266 increase amounts to a 13 percent hike in income over the past four years. Liberal and Democratic contentions that the Trump economy only benefits the wealthy fall flat in the face of the data. Put this increase in incomes into perspective. TRENDING: It Sounds Like Lindsey Graham Now Has Some Damning Dirt on Christopher Steele In the past 20 years, since 1999, median household...
  • Recession Already Grips Corners of U.S., Menacing Trump’s 2020 Bid

    09/15/2019 8:29:01 PM PDT · by rktman · 53 replies
    discussionist.com ^ | 9/9/2019 | S Donnan
    The moment usually comes during Greg Petras’s commute through the rolling hills and cornfields of southern Wisconsin. Somewhere between his home near Madison and the factory he runs on the edge of the small town of Brodhead, the news will turn to the trade wars and Donald Trump will again claim that China is bearing the cost of his tariffs. That’s when Petras loses it. “It’s just an outright lie, and he knows it,” says Petras, president of Kuhn North America, which employs some 600 people at its farm-equipment factory in Wisconsin. For Kuhn, Trump’s trade war has produced a...
  • Don’t fear a recession — the economy is looking solid and stable

    09/09/2019 11:36:59 AM PDT · by SeekAndFind · 9 replies
    New York Post ^ | 09/09/2019 | Jonathan Trugman
    One of the hardest things to understand about the current economy is that we are in a good, solid place — but not a perfect one. Last week’s jobs report was a touch light on the number of jobs added, but average hourly earnings were up nicely — and, besides, August tends to be a bit of a squirrely month anyway. This economy can best be summed up by a classic childhood fairy tale: “Goldilocks and the Three Bears.” The growth is exactly the way Goldilocks prefers her porridge: not too hot, not too cold, but “just right.” While the...
  • Trump approval drops by 6 points, majority say recession likely: POLL

    09/10/2019 9:48:48 AM PDT · by SeekAndFind · 65 replies
    ABC News ^ | 09/10/2019 | Gary Langer
    Six in 10 Americans say a recession is likely in the next year and as many are concerned about higher prices because of the trade war with China, helping to knock 6 points off President Donald Trump’s job approval rating in the latest ABC News/Washington Post poll. Trump fell from a career-high 44% approval in July to 38% now, a point off his career average, with 56% disapproving. His average rating since taking office remains the lowest on record for any modern president at a comparable point in his term, and he is the first never to have achieved majority...