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Old 11-29-2017, 12:01 PM
 
Location: Kansas City, MISSOURI
8,945 posts, read 2,690,466 times
Reputation: 6865

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And even per capita GDP growth has been trending downward for decades:


source: No Recovery: An Analysis of Long-Term U.S. Productivity Decline

A trend going back to at least the 60's is something no politician can do anything about. It is a force far beyond any of their powers.
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Old 11-29-2017, 12:06 PM
 
Location: Long Island, NY
19,715 posts, read 11,535,620 times
Reputation: 5606
Quote:
Originally Posted by Freak80
If you’re part of the asset owning class, then the last 8 years have been fabulous as free money from the Fed has pushed stocks and real estate back into the stratosphere.

But if you’re part of the working class, the last 8 years have been awful.

Our economy is based on serial asset bubbles. If you don’t own significant assets and know how to time the bubbles, you’re not getting anywhere in today’s economy.
The Fed kept interest rates low because there was no reason to make them high, which is needed when inflation is a threat or the economy is overheating. Neither was happening.

You don't seem to appreciate the value of low interest rates. They make it cheaper to buy a home and finance a car. Mortgages are in the 3% range and were in the 2% range. That helps Main St. just as much as Wall St.

The last 8 years weren't as good as they should have been -- and blaming Obama is misdirected blame. Obama tried to get the minimum wage raised but the Republican controlled Congress prevent it. The Democrats in the Senate tried to end tax breaks for companies that send jobs overseas. But the Senate Republicans block bill to end tax breaks for outsourcing.

A good reason you folks are down-on-your-luck is because you keep getting bamboozled into voting for the Republicans, who say they have your interests at heart, but when in power cater to the rich and powerful. The recent tax bill is a very good example. You as a whole need to pay attention.
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Old 11-29-2017, 12:08 PM
 
9,898 posts, read 3,257,435 times
Reputation: 7251
Quote:
Originally Posted by James Bond 007 View Post
And even per capita GDP growth has been trending downward for decades:


source: No Recovery: An Analysis of Long-Term U.S. Productivity Decline

A trend going back to at least the 60's is something no politician can do anything about. It is a force far beyond any of their powers.

We see the labor participation rate doing the samething. super hard to move it more than a point or two here and there.

if i recall correctly it is about 62.7 right now where many feel it should be 70% but we are unlikely to ever see that again unless we become some 3rd world hell where labor is virtually free...
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Old 11-29-2017, 12:18 PM
 
9,898 posts, read 3,257,435 times
Reputation: 7251
Quote:
Originally Posted by MTAtech View Post
Everyone would or should -- but growth doesn't happen from wishful thinking or reverse on the dime when the guy you hated leaves and the new guy, that you like, comes in. Anyone who thinks that the economy was horrible under Obama and is now wonderful is deluding themselves. There are no knew economic policies under Trump.

Trump brags about stock market gains but stocks roared up over 250% under Obama.

All-in-all, the economy is on the same trajectory as under Obama.

Whoever thinks "there are millions of more manufacturing jobs" under Trump, is also delusional. Growth in manufacturing grew by 200,000 jobs from Jan 2017 to Nov 2017 (that isn't millions.)

As you can see from the graph, manufacturing job growth has been steadily upward for years.
trumpers can see these numbers but they filter them out of their heads because they "want to believe" in Trump.
We see the same thing when a sports hero is accused of rape or other career ending crime. The fans are slow to believe it and when it is proved to be true in a court of law, some stick to their "feelings" and insist the hero figure was "setup"....

We could show Trumpers the economic trends a million times and they will still think "trump did it"
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Old 11-29-2017, 12:22 PM
 
Location: Divided Tribes of America
13,594 posts, read 5,476,429 times
Reputation: 5321
Quote:
Originally Posted by MTAtech View Post
The Fed kept interest rates low because there was no reason to make them high, which is needed when inflation is a threat or the economy is overheating. Neither was happening.

You don't seem to appreciate the value of low interest rates. They make it cheaper to buy a home and finance a car. Mortgages are in the 3% range and were in the 2% range. That helps Main St. just as much as Wall St.

The last 8 years weren't as good as they should have been -- and blaming Obama is misdirected blame. Obama tried to get the minimum wage raised but the Republican controlled Congress prevent it. The Democrats in the Senate tried to end tax breaks for companies that send jobs overseas. But the Senate Republicans block bill to end tax breaks for outsourcing.

A good reason you folks are down-on-your-luck is because you keep getting bamboozled into voting for the Republicans, who say they have your interests at heart, but when in power cater to the rich and powerful. The recent tax bill is a very good example. You as a whole need to pay attention.
I’m not a Republican. Nor do I blame Obama.

I support Social Democracy, which makes me a “crazy liberal” by American standards.
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Old 11-29-2017, 12:25 PM
 
Location: East Coast of the United States
17,158 posts, read 19,464,800 times
Reputation: 12895
As long as the stock market keeps going higher, that is really all that matters.

The stock market doesn’t lie. It is the bottom line. It is up to you to take part in it.
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Old 11-29-2017, 12:29 PM
 
Location: Long Island, NY
19,715 posts, read 11,535,620 times
Reputation: 5606
Quote:
Originally Posted by Freak80 View Post
I’m not a Republican. Nor do I blame Obama.

I support Social Democracy, which makes me a “crazy liberal” by American standards.
Your post (#21) says otherwise unless it was supposed to be be sarcasm.
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Old 11-29-2017, 12:31 PM
 
Location: Divided Tribes of America
13,594 posts, read 5,476,429 times
Reputation: 5321
Quote:
Originally Posted by MTAtech View Post
Your post (#21) says otherwise unless it was supposed to be be sarcasm.
It was meant as sarcasm. That’s why I used the wink icon.
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Old 11-29-2017, 12:33 PM
 
Location: Long Island, NY
19,715 posts, read 11,535,620 times
Reputation: 5606
Quote:
Originally Posted by BigCityDreamer View Post
As long as the stock market keeps going higher, that is all that matters.

The stock market doesn’t lie. It is the bottom line. It is up to you to take part in it.
That view is that when Wall Street does well, Main Street does well, which doesn't go hand-in-hand.

Half of all stock is owned by the top 1% and half of that by the top 0.1%. The top 20 percent of Americans owned 92% of stocks. Thus, expecting minimum wage earners or even low-paid supervisory personnel to take part in the stock boom is not realistic. They just don't have the spare income to invest.
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Old 11-29-2017, 12:34 PM
 
Location: Long Island, NY
19,715 posts, read 11,535,620 times
Reputation: 5606
Quote:
Originally Posted by Freak80 View Post
It was meant as sarcasm. That’s why I used the wink icon.
Ah, sarcasm doesn't go well on CD because of so many that share those literal views.
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