Thats not totally true. Obama's team was all about Keynesian economics and they knew exactly how things would work. It was based on short term success and didnt pay attention to long term impact. Or they did, which makes it worse.
Another great month for jobs; Unemployment lowest since 1969
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The average American isn't feeling the economic boom and things are going well enough numerically that they should be absolutely stashing money in their 401k hand over fist. They should be paying down debt at record levels. They should be saving at a historically high rate. But they aren't. Because the average American doesn't feel the benefit of this strong economy because it's set up for the wealthy to feel it most. I mean you all say every month look how strong our numbers are!
But the data on the savings rate and household debt to income levels doesn't make it look like we have a booming economy.
If this is how it looks when things are good. Imagine who gets crushed when things are bad.
But the data on the savings rate and household debt to income levels doesn't make it look like we have a booming economy.
If this is how it looks when things are good. Imagine who gets crushed when things are bad.
"Should be" is the operative term here. You know good and well that people grow into their incomes and nobody is financially responsible anymore. And for the record, right now is not the time to pay off debt, other than consumer debt. You would have to be pretty short sighted to get out of any form of fixed rate loan thats under 5% right now. Its way better to take your cash and put it into a real asset.
I'm talking about their annual GDP growth projections vs what actually happened annually. They were consistently wrong (to the downside) whereas Trump's advisors have been almost spot on with regards to projection vs. reality.
My guess is Because they are actually economists as opposed to political puppets with an agenda
Shook Chicken is just throwing around whiny Sanders fanboy lines now. Since the economy is on fire and Trump's policies are clearly working, expect more of this in the future. Making up shit and claiming Trump is "robbing" people.
The economy is absolutely not on fire. This is modest growth. There's no shame in saying that the plan is working, but lets not go overboard.
Economy is doing great, has been doing great for the last decade. Been maybe a percentage point better since Trump was elected. Why is it so hard for people to tell the truth on this matter? Everyone can look up the actual numbers. Some people just don't give a shit about reality.
3% growth is not great. That should be a baseline. Would you say that you are doing great if you got a 3% wage increase for 10 years? Thats a pittance quite honestly. Great should be outpacing expense increases by 10% in any given year.
I guess I'm just glad its not crashing, low expectations lol.
What exactly does "crashing" mean to you? I ask because it seems like the only metrics that anybody pays attention to are GDP and the Dow, which quite honestly don't paint much of a picture.
Mostly the stock market and property values, since thats where I personally have most of my wealth stored. GDP plays a much more indirect roll, especially for those of us who are paid by the gov.
Lol yes it is. Many economists were writing just a few years ago that 4% growth was long gone and even 3% growth may be a pipedream. A lot of these people had us pegged for perpetual 2% growth and we just had to adjust to it.
We are not China where most of the country is still trying to modernize and 5% growth is disappointing. For an economy like ours, sustained average growth of 3% and generational low unemployment rate is just about as On Fire as we are going to get.
Jesus dude, 3% growth for the worlds leading technological advancement and energy producer is not that impressive. I don't care what economists say, we should be double that number and quite honestly could have been for 20 years. Granted, we are still paying for the sins of the past but the country could do a hell of a lot better.
Sorry but I don't think you can find an economist, either on the far left, far right, or in the middle, that would ever agree that 6% growth is possible or was possible. If you can I'd love to read that reasoning and what assumptions would be required to even assume this is feasible.
85 logic: 2.1% average GDP growth is terrible (because democrat)
2.9% average GDP growth is GREAT (because republican)
You couldn't be more hypocritical if you tried.
2.9% average GDP growth is GREAT (because republican)
You couldn't be more hypocritical if you tried.
Funny thing is I can't find anywhere where he ever said that, so once again you are making shit up and putting words in others mouths........His comment was only based upon actual indisputable data
How many times are you going to link that same image? Shocker, the government said they did better than they actually did.
Literally every other source on the face of the planet: 2.9% real GDP growth in 2018:
https://www.bea.gov/news/2019/initial-gross-domestic-product-4th-quarter-and-annual-2018 everyone else on the planet:
2018 GDP
Real GDP increased 2.9 percent in 2018 (from the 2017 annual level to the 2018 annual level), compared with an increase of 2.2 percent in 2017 (table 1)
The real GDP increased by 2.9 percent in 2018.
https://www.statista.com/statistics/188165/annual-gdp-growth-of-the-united-states-since-1990/
https://data.oecd.org/gdp/real-gdp-forecast.htm
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Funny thing is I can't find anywhere where he ever said that, so once again you are making shit up and putting words in others mouths........His comment was only based upon actual indisputable data
![[roll]](http://l.yimg.com/j/assets/img/emoticons/classic/roll.r191677.gif "roll [roll]")
The truly remarkable thing about that chart is that even though they tripled the money supply and the housing market recovered it never created 3% growth. We truly weren't far from them trying negative interest rates.Funny thing is I can't find anywhere where he ever said that, so once again you are making shit up and putting words in others mouths........His comment was only based upon actual indisputable data
The Mises institute would disagree. Consider that in the 80s we had black monday and the s&l crisis but even those events didn't cause gdp to drop below 3.5. They didn't have the benefit of the tech boom we've been experiencing for 22 years either, or the resurrection of the domestic oil industry.
Yeah but he projected 3 percent so let’s give him an award of some kind for outstanding effort
My response was......
Yet again you conveniently and totally side stepped the focus of the comment that you were called out for, this particular
time for misquoting 85...prove me wrong
Thank you for actually making a logical point.
I used what is known as hyperbole. My point was that Obama oversaw a 2.1% avg GDP growth, where Trump saw 2.9%. common sense says there's not that much difference (0.8% to be exact).
Not exactly, in terms of absolute values sure .8%....for all intents and purposes that is totally meaningless.......
Absolute change refers to the simple difference in the indicator over two periods in time, i.e.
Relative change expresses the absolute change as a percentage of the value of the indicator in the earlier period, i.e.
The only thing that matters is the relative change = 2.9 -2.1/2.1 x 100 = 38%
38% increase in GDP growth rate is very significant!
Not exactly, in terms of absolute values sure .8%....for all intents and purposes that is totally meaningless.......
Absolute change refers to the simple difference in the indicator over two periods in time, i.e.
Relative change expresses the absolute change as a percentage of the value of the indicator in the earlier period, i.e.
The only thing that matters is the relative change = 2.9 -2.1/2.1 x 100 = 38%
38% increase in GDP growth rate is very significant!
lmao I'm well aware of how grade school math works, thanks. But the truth of the matter is Obama had a huge recession to deal with that drastically brought down his average GDP, but he still managed to end up with very similiar GDP.
My point is you can't yell from the rooftops that 2.9% GDP is amazing, and act like 2.1% is terrible. The truth of the matter is the economy has been doing very well for the last decade and very slightly better since Trump took over.
Your response indicates that you do not understand math for daily living........
38% is huge
Funny. I’m not anywhere an expert in economics, but these idiots think a 0.8 % increase is like 10 bucks.
There’s a pandemic you fool. Additionally, your lefty friends don’t want anyone to work, so it will increase. It’s a Democratic unemployment rate now
Imagine someone being so patently stupid that they'd think this is an awesome gotcha moment to bump this.
I just looked up the jobless claims report/graph and it was already very low under Obama and it continued a small downward trend under the orange idiot. So, you're correct. This is not my opinion.
Oh yeah, didn't you hear about Feb 28th, It's a hoax by the democrats! LOL. Such a joker. No facts, no science, no actual data.
Yeah but it was steady and he had a plan for the debt. Before the pandemic, frump was spending money like it was free. Typical GOP fashion. Then the democrats have to fix it.
Sorry, Ninja. I know I gave you a 'like' for this reboot, but upon reflection, I have to agree with 85 on this one.
Given that our resident Trump Toadie was caught touting his hero's record low unemployment rate in a thread post made JUST LAST WEEK, rebooting this one was sort of redundant.
Just make sure that you show your Mickey Mouse ears back here in November when you meltdown. This is a thread is about unemployment, so once again, you’re showing your 2nd grade education level
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