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It all depends on which part of society you are referring to. The rich are making boatloads of money most of which is going to offshore accounts untaxed. The average American is now working 60-80 hours just to try to make ends meet. Prices are rising at an alarming rate with the poor taking the biggest hit.
Under the Trump, the ballon looks great for the rich...until it bursts.
I'm thankful for the great work of Barack Obama. He took over an economy in the dumps and a housing crisis and turned this country around. The US economy has been on the rise for five (5) straight years now, going back to Obama's presidency in 2013.
I credit Donald Trump for not doing much of anything to mess with the consistent growth.
Hats off to both Obama and Trump for the way our economy is going lately.
That is reasonable opinion ( IMO )
Would welcome your thoughts on interactions of China, American economy.
It all depends on which part of society you are referring to. The rich are making boatloads of money most of which is going to offshore accounts untaxed. The average American is now working 60-80 hours just to try to make ends meet. Prices are rising at an alarming rate with the poor taking the biggest hit.
Under the Trump, the ballon looks great for the rich...until it bursts.
Dump Trump now.
Study: People Claiming to Work More Than 70 Hours a Week Are Totally Lying, Probably.
It's been said before, and it will have to be said again, but China just scaled up Japan's export mercantilism.
As China drained the US of wealth, the potency of this mercantilism diminished. China is trying to shift to a consumer economy driven by internal demand, but its citizens have to save so much given the lack of a safety net that internal consumer demand cannot support current Chinese production levels. Given a couple more decades, this may have been viable, but China will grow old before it grows rich. As the number of workers falls, wages will rise, and with that rise China's competitive advantage will disappear.
Eventually the US grew tired of Japan and reasoned it was rich enough to not stray from the US alliance so we had the Plaza accords. China is much more adversarial so the tougher medicine of tariffs are necessary. We will see how that plays out.
It's the difference between catching up and leading. Japan never caught up, and neither will China. China will occupy a seeming Asian position in the economy, with wages above Latin America and below Europe.
The US economy has been growing remarkably steadily for almost 250 years, and governing and social institutions have been able to gradually adapt and keep pace. We also have massive natural resources which enable us to have extraction, manufacturing, and knowledge economies simultaneously. There is no comparison to any other country.
It's been said before, and it will have to be said again, but China just scaled up Japan's export mercantilism.
As China drained the US of wealth, the potency of this mercantilism diminished. China is trying to shift to a consumer economy driven by internal demand, but its citizens have to save so much given the lack of a safety net that internal consumer demand cannot support current Chinese production levels. Given a couple more decades, this may have been viable, but China will grow old before it grows rich. As the number of workers falls, wages will rise, and with that rise China's competitive advantage will disappear.
Eventually the US grew tired of Japan and reasoned it was rich enough to not stray from the US alliance so we had the Plaza accords. China is much more adversarial so the tougher medicine of tariffs are necessary. We will see how that plays out.
It's the difference between catching up and leading. Japan never caught up, and neither will China. China will occupy a seeming Asian position in the economy, with wages above Latin America and below Europe.
The US economy has been growing remarkably steadily for almost 250 years, and governing and social institutions have been able to gradually adapt and keep pace. We also have massive natural resources which enable us to have extraction, manufacturing, and knowledge economies simultaneously. There is no comparison to any other country.
American does have the stronger hand in the trade negotiations despite what the globalist are claiming.
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