PING!
Yes, it’s booming.
“Can we find any way possible to sh1t on Trump for the economy?”
Yes
Get out of California and smell and see the changes.
Well it’s all relative, isn’t it? Compared to everywhere else, we are jumping over the moon!
I agree with Rush on this. All my life I’ve heard about the federal debt and how it’s going to ruin us. It’s like climate change, we’ll all be dead in a few years. I’m tired of hearing about it.
No, and that is the fault of recent Presidents and Congress. The Fed says it’s not doing QE but it is and it was only supposed to be done in emergencies to spur growth. Now it’s being done even though we’re supposed to be in a boom. GDP growth should be a lot higher but the debt is limiting the Feds ability to spur growth and inflation is much higher than will be admitted. Trump is pulling us uphill.
Me and everyone I know in manufacturing is working their a$$ off. Alabama.
In my location, yes.
The problem with this analysis is reality.
The author says debt is bad. It is really, really bad.
But we have had dept and more debt, and more debt, and we have become the most powerful and prosperous nation on the planet.
Can a run of 75 years like that be papered over by saying “debt is bad?”
I do not have an easy explanation. Here are a few possibilities:
Technological innovation overcomes debt.
Fiat currency just inflates and ignores debt.
Being the world currency means the rest of the world funds our debt.
I don’t know what the mechanism is, but it is hard to argue with the results.
I have been expecting the crash brought on by debt to happen for 50 years.
It has never happened.
Perhaps we need a Jubilee
Combine the above with income tax CUTS and a modest spending reduction ( or freeze ). And problem solved.
“However, beneath the surface, major problems threaten the boom.”
In other words “BUT”.
Before I read on, I said to myself, “let me guess, the “Daficit” (sic).
The ole Bogeyman, (or Boogyman if you are a dancer), is trying to make a comeback.
I can’t list all of Trump’s GREAT accomplishments because my fingers would fall off, but ONE thing he hasn’t dealt with is the “Daficit”. He is working on the “trade” daficit, but that doesn’t count.
I have been hearing about the “Daficit” since, what, the 70s? FIFTY YEARS! OMG, the sky is falling, the end is near, total financial collapse is at hand, etc.
WHERE IS IT? Where is this boogyman? Still WAITING!
In “a” word... YES.
Yes.
But it’s really, really booming when you compare it to Obama’s promised baseline: “America is over and the economy is all downhill from here.”