The US economy suddenly looks like it's unstoppable

[jg121783 3,915]

https://www.cnbc.com/2018/06/01/the-us-economy-suddenly-looks-like-its-unstoppable.html

 

The title of the article may be a little strongly worded because the economy is never "unstoppable" but things do look good. I know some of you believe this is in part or completely a result of Obama's policies. I don't buy that but I'm willing to consider any arguments you have if you can state which policy or policies of Obama's helped us get to where we are today and how that is the case.

[TBoneTX 45,267]

It's Bush's fault.

[Steeleballz 7,550]

 

    Obama came into office during what was probably the worst recession since the great depression. Some of the policies instituted to recover from that don't get the credit they deserve and some were worse than just letting it run it's course. I think the Obama administration did get things turned around quickly and mitigated what could have been a worse short term disaster, but failed to make any long term changes. The econmy was well into recovery by the end of Obama's second term and has continued and improved on that trend under Trump. We'll be back in the same boat at some point. No economy is unstoppable. It hits rock bottom and turns around. It peaks and turn around. The presidents job should be to help it along and try not to screw it up.

 

   As I have said before, whatever the economy is doing the president get's more than his share of credit when it's good and more than his share of blame when it's bad. Trump has certainly help consumer confidence and he deserves that credit. Very high risk of that reversing when the full effect of the tariffs becomes apparent.

[Dashinka 24,491]

7 hours ago, jg121783 said:

https://www.cnbc.com/2018/06/01/the-us-economy-suddenly-looks-like-its-unstoppable.html

 

The title of the article may be a little strongly worded because the economy is never "unstoppable" but things do look good. I know some of you believe this is in part or completely a result of Obama's policies. I don't buy that but I'm willing to consider any arguments you have if you can state which policy or policies of Obama's helped us get to where we are today and how that is the case.

I am afraid the economy may take a hit with the steel and aluminum tariffs that went into effect.  For all the good Trump and the GOP did with the tax cuts, putting the tariffs in place was a mistake in my opinion.

[Steeleballz 7,550]

2 minutes ago, Bill & Katya said:

I am afraid the economy may take a hit with the steel and aluminum tariffs that went into effect.  For all the good Trump and the GOP did with the tax cuts, putting the tariffs in place was a mistake in my opinion.

 

  The timing is certainly questionable. As well as using national security measures to implement it. I'm not sure directing it at our closest allies/neighbors was wise either. 

[OriZ 3,157]

Protectionism = lower growth, no way around that.

[TBoneTX 45,267]

I don't like tariffs, but it strikes me that they're not so much permanent or "definite" as they are a fluid negotiating tool.  If the other side does something favorable toward the U.S. in response, the U.S. can relent in turn.  "The Art of the Deal," so to speak.

 

Other country:  "This tariff seems severe.  What on earth brought it on?  Let's re-examine what might have prompted it, think whether we can adjust something on our end, and see what effect it has in return."

[Steeleballz 7,550]

2 hours ago, TBoneTX said:

I don't like tariffs, but it strikes me that they're not so much permanent or "definite" as they are a fluid negotiating tool.  If the other side does something favorable toward the U.S. in response, the U.S. can relent in turn.  "The Art of the Deal," so to speak.

 

Other country:  "This tariff seems severe.  What on earth brought it on?  Let's re-examine what might have prompted it, think whether we can adjust something on our end, and see what effect it has in return."

 

   Well the list of tariffs Canada proposed in retaliation certainly doesn't look favorable so far. Let's see what the EU comes up with. I think all of the G7 countries are unhappy that Trump used the national security clause to do this also. This "deal" could easily backfire.

[Voice of Reason 10,298]

He may not be much of a politician, but I think Trump is a very shrewd and tough businessman.  I shall reserve judgment for a bit and see what pans out.  I can see the potential for a backfire, but he has been right on a few other things, so...

[TBoneTX 45,267]

^^ This. ^^

[Steeleballz 7,550]

12 hours ago, IDWAF said:

He may not be much of a politician, but I think Trump is a very shrewd and tough businessman.  I shall reserve judgment for a bit and see what pans out.  I can see the potential for a backfire, but he has been right on a few other things, so...

 

  I don't know that there's any strategy here. I tend to agree with Ori, it's just a protectionist move, and to me it looks like it's something Trump promised on his campaign trail and wants to deliver on. So kudo's, I guess, for coming through on a promise, but questionable on the timing, and really no questions on how it will affect most consumers. 

[spookyturtle 9,465]

On 6/2/2018 at 1:17 PM, jg121783 said:

https://www.cnbc.com/2018/06/01/the-us-economy-suddenly-looks-like-its-unstoppable.html

 

The title of the article may be a little strongly worded because the economy is never "unstoppable" but things do look good. I know some of you believe this is in part or completely a result of Obama's policies. I don't buy that but I'm willing to consider any arguments you have if you can state which policy or policies of Obama's helped us get to where we are today and how that is the case.

So you think all the improvment in the economy has happened since Trump took office? What a surprise. 

[jg121783 3,915]

14 minutes ago, spookyturtle said:

So you think all the improvment in the economy has happened since Trump took office? What a surprise. 

A vast majority of it yes. I keep asking for someone to point out exactly which policies of Obama supposedly contributed to the economy improving and how so and no one has given me an answer. You care to take a shot at it?

[Steeleballz 7,550]

49 minutes ago, jg121783 said:

A vast majority of it yes. I keep asking for someone to point out exactly which policies of Obama supposedly contributed to the economy improving and how so and no one has given me an answer. You care to take a shot at it?

 

    As I said above, some of Obama's policies reversed the last recession quicker than letting it run it's natural course. That lead to a faster recovery than letting things play out. It didn't really fix anything though.  Whether or not you think that was a good thing or bad thing depends on your situation. The last economy was a big bubble and when it blew, we ended up in an equally big recession. This economy is a bigger bubble and eventually it's also going to blow. 

 

   For the record I didn't care for most of Obama's economic policy and I don't really care much for Trumps either. Somebody has to pay for all this one day. In 2008 we didn't pay for our mistakes, we covered them up and borrowed more money. The global economy is still a mirage. The global asset bubble is bigger than the GDP of all the countries in the world combined. The best thing anyone can do is be cognizant of that. It's more important than Trumps daily wins or daily whines.

 

   

[spookyturtle 9,465]

1 hour ago, jg121783 said:

A vast majority of it yes. I keep asking for someone to point out exactly which policies of Obama supposedly contributed to the economy improving and how so and no one has given me an answer. You care to take a shot at it?

How about you prove that all the improvements  are due to Trump? You are he one who made the idiotic claim. 

Edited June 3, 2018 by spookyturtle