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Hurting SC? Have you seen traffic in Charleston lately? Home prices still on the rise? Have you tried to hire anyone lately??? You're drinking too much CNN Kool Aid.
I can find a hundred articles just like this one that proves you wrong.
Yes, WE are lucky here in Charleston. Home prices are good, and the rich do very well. Now the other 75% of people, not so much. People who are one accident, diagnosis or illness away from bankruptcy due to the failed healthcare system. People who are working full time and just barely living from paycheck to paycheck. That is the reality for most Americans. It's probably easy for you to say the economy is great, I mean just look at all of the BMW's on the road in Mount Pleasant. But look a little deeper. It's not that great. I have a solid paying job, but even my wages have been stagnant for many years. Most Americans are making less than they did 40 years ago, adjusted for inflation.
This economy is smoke and mirrors. Trump and his leadership have zero clue about the real economy.
As the article notes, the effects of the trade war are still unknown at this time. Currently the economy is doing well. There is a chance of a slight recession, but not in the terms of the banking or home crisis. Many are looking at the upcoming holiday spending as a gauge of consumer confidence. Last season hit record highs.
One of our biggest issues isn't a trade war with China. It's something we're facing here in the State and across the country. The jobs are there, we just don't have the skilled laborers to fill them (LINKLINK)
I simply can't say it any better than Mike Rowe he's banged this drum for both Obama and Trump. His latest Congressional testimony : LINK
I'm not denying the overall economy isn't doing well. It is, by most indicators you refer to above. However, the economy as a whole still masks underlying massive issues beneath the surface. Just because people spend money during the holidays, doesn't mean they aren't putting it all on a credit card and won't be paying high interest on it for years. It still doesn't account for the large % of the population that lives paycheck to paycheck. Overall we are prosperous, but it is mainly because the rich are really rich. 3 people in this country have as much wealth as the bottom 50% combined. How many people even have money saved or a 401K that's going to hold them through old age? Not many.
"The unemployment rate will drop to 3.7 percent in 2018, and 3.5 percent in 2019 and 2020. That's lower than the Fed's 6.7 percent target. But former Federal Reserve Chair Janet Yellen admitted a lot of workers are part-time and would prefer full-time work. Also, most job growth is in low-paying retail and food service industries. Some people have been out of work for so long that they'll never be able to return to the high-paying jobs they used to have."
I'm not denying the overall economy isn't doing well. It is, by most indicators you refer to above. However, the economy as a whole still masks underlying massive issues beneath the surface. Just because people spend money during the holidays, doesn't mean they aren't putting it all on a credit card and won't be paying high interest on it for years. It still doesn't account for the large % of the population that lives paycheck to paycheck. Overall we are prosperous, but it is mainly because the rich are really rich. 3 people in this country have as much wealth as the bottom 50% combined. How many people even have money saved or a 401K that's going to hold them through old age? Not many.
"The unemployment rate will drop to 3.7 percent in 2018, and 3.5 percent in 2019 and 2020. That's lower than the Fed's 6.7 percent target. But former Federal Reserve Chair Janet Yellen admitted a lot of workers are part-time and would prefer full-time work. Also, most job growth is in low-paying retail and food service industries. Some people have been out of work for so long that they'll never be able to return to the high-paying jobs they used to have."
This has been talked about for years during the Obama days. What you’re attempting to do is pin it solely on Trump rather than just pointing out that exist in general. Slow wage growth and offshoring manufacturing has been going on for decades. It’s not going to be miraculously fixed in two years under one president. However at least some attempts are being made to reverse the damage and at least the conversation is getting started. Awareness has been raised that some politicians have been neglecting some of their core voter base while pandering to another.
This has been talked about for years during the Obama days. What you’re attempting to do is pin it solely on Trump rather than just pointing out that exist in general. Slow wage growth and offshoring manufacturing has been going on for decades. It’s not going to be miraculously fixed in two years under one president. However at least some attempts are being made to reverse the damage and at least the conversation is getting started. Awareness has been raised that some politicians have been neglecting some of their core voter base while pandering to another.
There's that whataboutism again. I actually never pinned it solely on Trump. This has been a problem for decades, and you're right, Obama didn't fix it either. However, pretty much everything Obama DID try to do to fix it has been reversed by Trump. This "tax cut" and the rest of Trump's clueless economic policies are great for some business, CEO's and hedge fund managers, but will only hurt us down the line. Of course it's not going to be miraculously fixed under one President. Not THIS one, anyway. He's only making it worse.
There's that whataboutism again. I actually never pinned it solely on Trump. This has been a problem for decades, and you're right, Obama didn't fix it either. However, pretty much everything Obama DID try to do to fix it has been reversed by Trump. This "tax cut" and the rest of Trump's clueless economic policies are great for some business, CEO's and hedge fund managers, but will only hurt us down the line. Of course it's not going to be miraculously fixed under one President. Not THIS one, anyway. He's only making it worse.
That sounds like you’re trying to speculate that he’s going to make things worse based on things you’re observing now which are the result of what everybody else has done. It’s hard to fault someone attempting to address a problem vs everybody else who simply ignored it as the person who is making it worse.
The tax cut was the first step. One main reason businesses offshore is because we had one of the highest corporate taxes in the developed world. Doing business here is expensive. It’s an attempt incentivize it. It also makes our products more globally competitive because a large corporate isn’t factored into the cost of the product.
While people always assume tax breaks only affect the wealthy, the truth is everybody benefits. Higher stocks mean higher 401k returns, more available capital to expand businesses, make new factories, hire more people etc.
Hurting SC? Have you seen traffic in Charleston lately? Home prices still on the rise? Have you tried to hire anyone lately??? You're drinking too much CNN Kool Aid.
Honestly most of South Carolina's growth came before Trump.
Boeing, Mercedes, BMW, Volvo -- all well before Trump was a glimmer in somebody's eye.
The trade chaos created by Trump most certainly may have a negative impact on our economy.
Both BMW and Volvo have stated the trade wars have impacted their manufacturing goals.
Reduced imports will most definitely impact the ports.
(just to remind people -- Volvo announced in 2014 their major plant, started construction in 2015 and just finished the plant in 2018 -- none of this was because of any Trump economic policy -- still riding a wave of recovery that may or may not be attributed to the previous administration but most certainly happened under the last administration).
So while those 158 jobs might be impacted positively by tariffs, thousands of jobs in other manufacturing facilities may be negatively impacted.
Reduced imports will most definitely impact the ports.
(just to remind people -- Volvo announced in 2014 their major plant, started construction in 2015 and just finished the plant in 2018 -- none of this was because of any Trump economic policy -- still riding a wave of recovery that may or may not be attributed to the previous administration but most certainly happened under the last administration).
So while those 158 jobs might be impacted positively by tariffs, thousands of jobs in other manufacturing facilities may be negatively impacted.
The way tariffs work is that it will hurt the short term before it gets better. If you make cars here, but say your engines come from China, the engine now cost more. However over the long term the idea is that you also move the engine manufacturing here. It’s basically a way to leverage the American consumer market as a way to get more factories back. Since we have such a huge trade deficit, the idea is that we have more to gain than lose over the long term.
The economy will continue to go up and down, but once a factory is shut down it takes a lot for it to reopen. The previous approach was to simply suggest all factory workers become computer programmers and let the Chinese take over global manufacturing.
That sounds like you’re trying to speculate that he’s going to make things worse based on things you’re observing now which are the result of what everybody else has done. It’s hard to fault someone attempting to address a problem vs everybody else who simply ignored it as the person who is making it worse.
The tax cut was the first step. One main reason businesses offshore is because we had one of the highest corporate taxes in the developed world. Doing business here is expensive. It’s an attempt incentivize it. It also makes our products more globally competitive because a large corporate isn’t factored into the cost of the product.
While people always assume tax breaks only affect the wealthy, the truth is everybody benefits. Higher stocks mean higher 401k returns, more available capital to expand businesses, make new factories, hire more people etc.
How's your 401K doing this year? S&P was at 2673 on Jan 1 and is only 2770 today. It was actually in negative territory for the year at the end of October.
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