Trump’s First 3 Years Created 1.5 Million Fewer Jobs Than Obama’s Last 3

[90DayFinancier 910]

New Labor Department statistics show that despite Trump’s repeated boasts, job creation was a lot higher during Barack Obama’s final years.

https://m.huffpost.com/us/entry/us_5e419dc0c5b6bb0ffc169993

 

[Dashinka 24,513]

Pretty much says it all.

 

"He added, though, that Trump’s “hyperbole” notwithstanding, “the performance of the labor market has been nothing short of stunning.”"

Edited February 11, 2020 by Bill & Katya

[DELETEME1234 208]

5 hours ago, Bill & Katya said:

Pretty much says it all.

 

"He added, though, that Trump’s “hyperbole” notwithstanding, “the performance of the labor market has been nothing short of stunning.”"

I think this is a more apt summary:

 

Quote

“There are markets we’re probably not going to get back, and we’re going to have nothing to show for it,” Rothschild said. “The economy is moving along pretty well despite the best efforts of Donald Trump.”

 

[Dashinka 24,513]

16 minutes ago, Poseidon1212 said:

I think this is a more apt summary:

 

 

So we are expected to believe the current crop of Democrat candidates will do things any better?

[DELETEME1234 208]

19 minutes ago, Bill & Katya said:

So we are expected to believe the current crop of Democrat candidates will do things any better?

Should I have reason to believe otherwise?

Most of the economical damage is due to trade wars, which I’m sure they won’t continue or initiate. 

[Orangesapples 1,954]

6 hours ago, Bill & Katya said:

Pretty much says it all.

 

"He added, though, that Trump’s “hyperbole” notwithstanding, “the performance of the labor market has been nothing short of stunning.”"

Yeah, only manufacturing is in a recession and there are layoffs left and right:

 

https://www.cnn.com/2020/01/03/economy/december-manufacturing-downturn/index.html

 

 

[Steeleballz 7,550]

   

   We have discussed many times on this forum how little influence the president actually has on the economy. Obviously the economy was chugging along when Trump was elected and has continued to do so ever since. Consumer confidence seems to be high though, and Trump will benefit from that. Some of that may be Trumps business acumen. Whether he actually deserves any credit remains to be seen. The damage done by tariffs has been mitigated by the overall strength of the US economy to begin with, but the longer term effects of that are still to come. Tax cuts have probably also temporarily boosted the economy, but the flip side to that is those cuts will all expire, and may do so at a time when the economy will probably not be as good as it is now. 

 

   As always, 3 or 5 years down the road when the economy is bad again, everyone will be blaming the president at the time. It would be good to keep in mind that some of that blame for the next recession belongs to the short sighted actions that occur today. Much of it will just be the cyclic nature of the economy in general. The best the president can do (IMO) is come up with policies that mitigate the bad times and not screw up the good times. I'm not sure that is actually happening right now.

[DELETEME1234 208]

1 minute ago, Steeleballz said:

   

   We have discussed many times on this forum how little influence the president actually has on the economy. Obviously the economy was chugging along when Trump was elected and has continued to do so ever since. Consumer confidence seems to be high though, and Trump will benefit from that. Some of that may be Trumps business acumen. Whether he actually deserves any credit remains to be seen. The damage done by tariffs has been mitigated by the overall strength of the US economy to begin with, but the longer term effects of that are still to come. Tax cuts have probably also temporarily boosted the economy, but the flip side to that is those cuts will all expire, and may do so at a time when the economy will probably not be as good as it is now. 

 

   As always, 3 or 5 years down the road when the economy is bad again, everyone will be blaming the president at the time. It would be good to keep in mind that some of that blame for the next recession belongs to the short sighted actions that occur today. Much of it will just be the cyclic nature of the economy in general. The best the president can do (IMO) is come up with policies that mitigate the bad times and not screw up the good times. I'm not sure that is actually happening right now.

When it comes to economy this is pretty much the nuance that is fairest. That and the addition that most economical benchmarks don’t actually say much about how the common Joe’s life is, with the exception for perhaps purchasing power. 

[Orangesapples 1,954]

14 minutes ago, Steeleballz said:

   

   We have discussed many times on this forum how little influence the president actually has on the economy. Obviously the economy was chugging along when Trump was elected and has continued to do so ever since. Consumer confidence seems to be high though, and Trump will benefit from that. Some of that may be Trumps business acumen. Whether he actually deserves any credit remains to be seen. The damage done by tariffs has been mitigated by the overall strength of the US economy to begin with, but the longer term effects of that are still to come. Tax cuts have probably also temporarily boosted the economy, but the flip side to that is those cuts will all expire, and may do so at a time when the economy will probably not be as good as it is now. 

 

   As always, 3 or 5 years down the road when the economy is bad again, everyone will be blaming the president at the time. It would be good to keep in mind that some of that blame for the next recession belongs to the short sighted actions that occur today. Much of it will just be the cyclic nature of the economy in general. The best the president can do (IMO) is come up with policies that mitigate the bad times and not screw up the good times. I'm not sure that is actually happening right now.

Business acumen (which Trumpet lacks, evidenced by the fact that he bankrupted a casino) has nothing to do with running a successful economy. It's a completely different set of skills and knowledge. This is a great explanation as to why:

 

https://hbr.org/1996/01/a-country-is-not-a-company

[Steeleballz 7,550]

2 minutes ago, Orangesapples said:

Business acumen (which Trumpet lacks, evidenced by the fact that he bankrupted a casino) has nothing to do with running a successful economy. It's a completely different set of skills and knowledge. This is a great explanation as to why:

 

https://hbr.org/1996/01/a-country-is-not-a-company

 

  Consumer confidence and to a certain extent business confidence do have a lot to do with a successful economy. We shouldn't underestimate that. The momentum of consumer confidence is like a freight train. It tends to move forward until something stops it.

 

  It's one reason the Dow sank the day after Obama was elected. A recession was coming obviously, but Obama was an unknown, inexperienced, and possibly a socialist. Not a good choice to navigate the bad times. The economy reacted poorly to that. Eight years later, the recession had recovered and Obama was a well known commodity with experience and was willing to bail out the private sector for their screw ups. That contributed to consumer confidence being higher.

 

  I think Trump benefits from the perception of his business skills. Whether he actually has a lot and how that translates to running a country is less relevant to the overall economy. One of the big drivers of the economy is people not being scared that something bad is around the corner. Even if it is.

[Orangesapples 1,954]

Just now, Steeleballz said:

 

 

  I think Trump benefits from the perception of his business skills. Whether he actually has a lot and how that translates to running a country is less relevant to the overall economy. One of the big drivers of the economy is people not being scared that something bad is around the corner. Even if it is.

Don't smart people know that Trump has no business skills? It's pretty obvious he's an idiot. Also, the uncertainty that his erratic policies and late might tweets brings is certainly not helping. I remember when tariffs with Mexico were a possibility, it was chaos and it was hard to negotiate new business. 

[Steeleballz 7,550]

13 minutes ago, Orangesapples said:

Don't smart people know that Trump has no business skills? It's pretty obvious he's an idiot. Also, the uncertainty that his erratic policies and late might tweets brings is certainly not helping. I remember when tariffs with Mexico were a possibility, it was chaos and it was hard to negotiate new business. 

 

  Theoretically yes. Unfortunately, we are talking about the average American. When doing that, we then have to consider that half of Americans are by definition, dumber than the average American. It's a pretty bleak concept. 

 

  ETA: Saying Trump has no business skills is unfair. I think his business skills are over rated. 

Edited February 11, 2020 by Steeleballz

[Orangesapples 1,954]

3 minutes ago, Steeleballz said:

 

  Theoretically yes. Unfortunately, we are talking about the average American. When doing that, we then have to consider that half of Americans are by definition, dumber than the average American. It's a pretty bleak concept. 

Are the average Americans the ones that decide where capital is invested? Or do you mean people just consuming more and buying more credit, another ticking time bomb? 

[Dashinka 24,513]

23 minutes ago, Orangesapples said:

Don't smart people know that Trump has no business skills? It's pretty obvious he's an idiot. Also, the uncertainty that his erratic policies and late might tweets brings is certainly not helping. I remember when tariffs with Mexico were a possibility, it was chaos and it was hard to negotiate new business. 

So are you saying that anyone that supports President Trump is not smart?  Maybe they are all deplorable?  

[Orangesapples 1,954]

16 minutes ago, Bill & Katya said:

So are you saying that anyone that supports President Trump is not smart?  Maybe they are all deplorable?  

Supporting him and thinking he has great business skills are two different things. I know some people support him even though they agree he's an idiot. Now if someone genuinely thinks Trump is a good businessman, they're either ignorant or, well, not very smart.