Trump fires back at Obama, boasts he's got 'magic wand' on economy

LV426 said:
Yes, but 2016 was one of Obama's best years of job creation. And wage growth in 2016 was the best in 7 years.

I don't know how you're judging a "weak recovery", but the weakest recovery we've ever had was during Bush the Dumber, and the "recovery" lasted almost 3 years before the Housing Bubble took over. And that was to recover from the weakest recession in a generation; 2001's recession lasted 6 months and didn't even result in negative GDP growth. Obama not only recovered all the jobs Bush the Dumber and the Conservatives lost, but he created 11 million more and reduced the deficit by 2/3 from where he inherited it.

The recovery would have been stronger during Obama had Conservatives not forfeit their duties to govern by obstruction.
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It was written about quite a bit as being a historically weak recovery in terms of GDP growth.


https://money.cnn.com/2016/10/05/news/economy/us-recovery-slowest-since-wwii/index.html
 
cawacko said:
It was written about quite a bit as being a historically weak recovery in terms of GDP growth.
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Well, that's what happens when one half of the political divide absolutely refuses to do anything to help the economy from the recession their policies caused.
 
LV426 said:
Well, that's what happens when one half of the political divide absolutely refuses to do anything to help the economy from the recession their policies caused.
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. . . or as Pimp above does: refuses to use more than 1/2 his mind in thinking about these matters. In two months, he will be wondering "what happened?" as he walks around woozily in a daze.
 
jimmymccready said:
. . . or as Pimp above does: refuses to use more than 1/2 his mind in thinking about these matters. In two months, he will be wondering "what happened?" as he walks around woozily in a daze.
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People like him are so confused by the anthem protests because if there's no anthem to be played, how will the football team know when to start playing? LOL.
 
LV426 said:
Not really.
Wages are largely flat. The Market is also largely flat since the Russia Tax Cut started. GDP growth was inflated in Q2 because of a rush to fill orders ahead of the tariffs. That will result in a massive drop in GDP growth for Q3 and Q4. In fact, I doubt we'll hit 3% growth for the year. Q1 was just 2.2% and Q2 was 4.1%. Q3 and Q4 will each need to be at least 3% just to make 3% growth for the year. That's simply not going to happen.
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wages are not "largely flat". 3% wage growth is way more then Obama got

the market has jumped up, but no question tariffs have an impact.
The thing is either we get the trade agreements with China ( trade barriers there) opened up
as well as ending their espionage,and forced joint ventures ( another way for IP theft by them)
or we don't.
Trump has said numerous times he's not going to kick the can down the road.

I realize you want the economy to fail, but 3% is the general agreement for GDP growth
this year by many economists
 
LV426 said:
BMW, Carrier, and Harley all said this year that they're moving manufacturing specifically because of Trump's policies.

It's pure fantasy that he's brought any jobs back. Quite the contrary. Plenty of jobs have left, and the jobs he's creating now pay like shit. That's why wages have been largely flat, even though we were promised wage increases of $4,000-$9,000 thanks to the Russia Tax Cut. Instead, real wages for most Americans have either declined or stagnated. A far cry from the $9K ceiling of wage increases promised by Conservatives in December last year.
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more bullshit.
the 370k manufacturing jobs do not "pay like shit" - in fact construction is up as well as tech, as well as the service industries. These are good jobs.

As stated the tarrifs do skew some jobs/growth, but it has to get done for long term economic health
and reducing China's malign actions
 
LV426 said:
Yet you cannot name a single one, therefore your entire premise is false.

When asked for details, you bristle and whine and exercise the worst Dunning-Kruger I've seen in years.

No one believes for a second that you're being genuine. These posts of yours are all by design; to shield you from any criticism of making garbage points and unsupported, half-assed arguments.

I'm not impressed.
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who cares if you are impressed?
I wouldn't expect you to get the macro-economic idea of a regulatory enviornment.

Trump has mostly halted new regulations, pocket vetoes those that were left unfinished by Obama and reversed executive orders.

Define regulatory environment
https://study.com/academy/answer/define-regulatory-environment.html
a lax regulatory environment is often associated with free-market, conservative economics and involves little government involvement.
A tougher regulatory environment is often associated with progressive economics, which can include rules limiting hours worked, higher taxes, and other restrictions on businesses
 
Darth Omar said:
I’ve looked in to the regulatory environment and it’s like wading into a morass.

The ‘regulatory state’ is much of the government, in fact.
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800x-1.png
 
cawacko said:
2016 GDP slowed to 1.6% growth. It was one of the weakest recoveries on record. Those are just facts. It's why people like Bernie and Trump gained so much traction. If we had a real vibrant and healthy economy those two wouldn't stand a chance.

Politicians aren't being honest with the American people about our debt, future liabilities and how that will affect us going forward. In part because we the people don't want to hear it.
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I always appreciate your honest take on economics
 
anatta said:
wages are not "largely flat". 3% wage growth is way more then Obama got
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LOL!

So this is what I'm talking about when I refer to Conservatives who argue exclusively in bad faith.

No, Trump's wage growth isn't 3%. It was 3% above August 2017 for the month of August 2018.

One month.

And inflation over the same period was virtually the same. So for August 2018, wages grew about 3% y-o-y, but inflation was also about 3% y-o-y. So real wages grew a paltry 0.1-0.2% y-o-y

You present a figure that was distorted by you deliberately to give the impression wages grew while leaving out the fact that wage growth was measured y-o-y and isn't real wages because inflation over the same period was about the same as the wage growth.

So when I said wages have stagnated or declined, I was right. You were misrepresenting a statistic in bad faith, whether it was intentional or not.

Why did you do that? Did you think I wouldn't catch that? Did you think I'm just as lazy as you are? You know why people hate Conservatives so much? Because you're a bunch of dishonest lying scumbags who cannot be relied upon to be truthful at any given time.
 
anatta said:
President Trump escalated the political battle with his predecessor Monday, boasting that he’s got a “magic wand” for the economy after Barack Obama tried to downplay the gains on Trump’s watch.

Obama hit the campaign trail for congressional Democratic candidates over the weekend, after delivering a fiery speech accusing Trump and Republicans of fueling "division and resentment" – and suggesting the current administration was taking credit for a recovery he engineered.

“When you hear how great the economy’s doing right now, let’s just remember when this recovery started,” Obama said Friday.

But Trump on Monday tried to use Obama’s past words against him.

“’President Trump would need a magic wand to get to 4% GDP,’ stated President Obama. I guess I have a magic wand, 4.2%, and we will do MUCH better than this! We have just begun,” Trump tweeted.

his may have been a reference to a 2016 town hall where Obama pushed back on Trump’s vow to bring back manufacturing jobs by negotiating a “better deal.”

“How exactly are you going to negotiate that? What magic wand do you have?” Obama asked at the time.

Trump is crowing over recent estimates that the U.S. economy grew at a 4.2 annual rate in the second quarter, the strongest in almost four years. And he’s using the GDP numbers and job growth to hit back hard at Obama’s return to the campaign trail.

He also tweeted Monday: “The Economy is soooo good, perhaps the best in our country’s history
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Obama has gone bat$hit with the rest of them,

he just couldn't stay in Kenya could he, he just has to come back here and run his mouth, ruined "legacy" does that to a man I suppose

so un-presidential like
 
anatta said:
the market has jumped up, but no question tariffs have an impact.
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The market has grown just 4% this year. That's behind the pace of last year and the two years prior.

DJIA on 1/2/18 (start of Russia Tax Cut): 24,824
DJIA as of right now: 25,863
+4%

I wouldn't consider the market growing by 4% "jumping". I'd consider that barely hopping.
 
anatta said:
The thing is either we get the trade agreements with China ( trade barriers there) opened up
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WTF?

We had TPP which would have staked out the US' influence in the Pacific Rim. But you fucking short-sighted assholes ditched that, which let China step up and fill the void we were supposed to fill.

What trade deals with China?!? They already have MFN status. They already have imposed tariffs on our products. This isn't trade policy; it's bedlam.
 
LV426 said:
The market has grown just 4% this year. That's behind the pace of last year and the two years prior.

DJIA on 1/2/18 (start of Russia Tax Cut): 24,824
DJIA as of right now: 25,863
+4%

I wouldn't consider the market growing by 4% "jumping". I'd consider that barely hopping.
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That's because you are dumb a s a brick

anything else you'd like to add? Einstein :rofl2:
 
anatta said:
as well as ending their espionage,and forced joint ventures ( another way for IP theft by them) or we don't.
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China doesn't have to do shit.

They're the ones with the bargaining power.

They export all the raw materials we need to build products here.

Starting a trade war with the largest global supplier of raw materials for electronic components is stupid, and will not create any jobs. All it will do is raise consumer prices because governments don't pay tariffs, consumers do.

Conservatives have no fucking idea what they're doing. They're dangerous.
 
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