Posted on 11/26/2018 6:08:45 AM PST by reaganaut1
Federal Reserve Chairman Jerome Powell said last month that the U.S. is experiencing “a remarkably positive set of economic circumstances.” The superb numbers speak for themselves, but who gets the credit?
For eight years under President Obama, the growing burden of government suppressed the economic recovery that should have followed the recession of 2008-09. Mr. Obama nonetheless has claimed responsibility for today’s boom, asking Americans in September to “remember when this recovery started.” Yet it wasn’t until President Trump took office that the economy surged. His administration’s pro-business policies—cutting taxes, slashing regulations and encouraging energy production—released the pent-up dynamism of American capitalism. The result is a rising tide that is lifting boats across every class and region of the country.
The last recession officially ended in June 2009. During a typical recovery, the economy grows at a rate between 3% and 4%, and the Obama administration predicted such a surge in its 2010 midsession review. It never came. The “recovery” of those years often felt much like a recession. In the postrecession period under Mr. Obama, gross domestic product grew an average of 2.2%.
GDP growth staggered along at 1.5% in Mr. Obama’s final six full quarters in office. In contrast, growth doubled to 3% during Mr. Trump’s first six full quarters. And through three quarters of 2018, the economy has grown at a 3.3% clip and is on track to hit at least 3% for the full calendar year. That would make this year the first with 3% growth since 2005.
To get an even clearer picture, compare the contiguous periods of the Trump and Obama years. Accelerating growth is having an impact on the job market. By August of this year, Mr. Trump’s pro-business policies had driven job openings to their highest level since 2000
(Excerpt) Read more at wsj.com ...
Like a child, Obama wants to cherry pick these good quarters as his doing and blame his lousy results on Bush.
Not because of Barry, but in spite of him.
Don’t worry the New Demonrat Leadership in Congress will fix the economy right up.
So why is the stock market in the crapper and can’t even hold the gains made?
The Feds job is not slow the economy by raising interest rates. The 16th amendment is a disaster!
Because the stock market is an indicator of the international financial/investment sector which likes cheap slave labor, "free" trade( f--- trade) and open borders. It is not an indicator of the US economy. What is good for the US worker is not good for globalist fat cats.
One reason is that the stock market does not like tariffs.
One of the maids of honor was to be Lori Klausutis, but she was not available.
The stock market is not the economy.
Democrats coming in to congress.
Democrats want to undo it. Because they hate Trump.
If the Democrats had won both houses of Congress, they would have TANKED the American economy, just to blame it on Trump!
And the media would be complicit in the blame-game!!
Right on.
The daily wobbles in the market for the shares of Globalist, Nazi linked Multi nationals does not reflect maid street USA.
Most workers like tariffs, but, of course, if your particular ox is being gored, and fat cat/hot deal scam is ending, you will be unhappy.
TWB
Most?
Investors know, at least knowledge ones that the “economy” is not the stock market.
Yes, most. In WA state this last election cycle we had ads running for candidates against conservatives specifically re: tariffs. What they were saying … tariffs cause retaliatory tariffs that kill WA state jobs, specifically, Apple exports, and that once those customers find new suppliers those markets may never come back. Personally, I would counter that the world apple supply is a zero sum game, at least in the short term (it takes a long time to mature apple trees), and if China finds new suppliers, then that means new markets would open, and WA apple growers would still have a market … it would just be a different market.
The really stupid,mostly victims of the public education system, have no way to dispute these lies since they actually, like little Alexandra from NY, haven’t a clue about economics or critical thought.
Well. Thank you for that enlightenment. I could not have done without it.
I have never seen the investment markets do well when the economy did not and seldom, like now, ever seen the markets do poorly when the economy did well. I guess the general correlations of the two sets of data mean nothing.
How is YOUR 401k doing?
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