Quote:
Originally Posted by BeerGeek40
Business cycle.
10 year expansion since 2009. Time for a slowdown.
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But didn't you hear that this is the greatest economy ever? Donald Trump told me so, he always tells the truth, he never lies and knows everything about economics because he's the best businessman ever.
Quote:
Originally Posted by Tall Traveler
The 2018 Blue Wave is very costly. Nancy crashed the world economy last time she was Speaker, these little trifling problems are manageable.
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This is the slowest economic recovery in modern history, a recovery that has occurred during both Republican and Democratic Congresses and administrations.
Nancy Pelosi passing a budget that increases the debt, increases deficits, and increases spending beyond the budget caps put in place in 2011 is not good for the economy. But the budget only became law because Trump signed it.
Quote:
Originally Posted by mirage98de
When Joe Sixpack turns on his tv everyday he is bombarded with stories about how the economy is about to collapse.
I’ve got to be honest here, even as a Trump supporter, the constant lies from the media are so pervasive and persistent that they eventually cause you to start almost believing them. Manipulation is a real thing and you have to be determined to not fall victim to it.
Most people are not smart enough or independent enough to not fall for it.
Then, they stop buying goods and services out of fear.
Guess what happens next?
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Joe Sixpack doesn't have to turn on his television to know about the economy.
Joe Sixpack knows that for over a decade, his paycheck or paychecks (many are working multiple jobs to make ends meet) has barely increased even as the cost of his health insurance, automobile, and cost of living has.
Now, you blame the media for economic woes. The media started talking about the economy this summer, but the economic recovery has been slow ever since it started in June 2009.
MSNBC, CNN, and the New York Times only touch the surface about the underlying problems with the U.S. economy. They talk about the slowdown in manufacturing and retail, and these are very real challenges. But less attention is focused on the record levels of personal and business debt and how the Fed's monetary policy has created a bubble economy that will eventually result in hyperinflation.
Quote:
Originally Posted by jeffbase40
It's sad that the Democrats seem to want the economy to fail because that may be the only way to tarnish Trump. As long as Trump can tout his economic accomplishments then he will get cheers at the rallies.
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What is sad is that some Democrats refuse to acknowledge that the economic problems we have didn't start under Trump, but really started either during the Obama years or prior to them.
That said, I don't know a single Democrat who wants the economy to slow. What is even more sad to me than Democrats being in denial about Obama's lousy economy is Trump supporters being in denial about the lousy economy right now.
Quote:
Originally Posted by Pilot1
More recession hope from the anti Trump New Jersey echo chamber.  |
More like a reality check from someone who is far more conservative than you despite living in New Jersey.
Quote:
Originally Posted by Retroit
Democrats are so desperate for a recession/depression so they can blame it on Trump. If Hillary was President, they’d be basking in the best economy ever. |
I voted for Gary Johnson in part because of Trump's bigoted rhetoric, but also because Trump and Clinton are 90% similar on economics.
Quote:
Originally Posted by BoBromhal
can you tell me how you came to this conclusion before I answer it in opposition?
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Two sources:
1.
https://www.marketwatch.com/story/ho...ary-2019-10-17
2.
https://www.forbes.com/sites/forbesr.../#2b2a54fa2c7f
Quote:
Originally Posted by DRob4JC
You are not asking the right questions. A good economy does not imply that every single sector is operating positively. You questions may have answers that have nothing to do with the economy.
I guess it would be good to define what makes a good economy - which may be different from person to person.
For me - I look at employment levels, wages with respect to the cost of goods (affordability), how is the middle class doing, the velocity of money flow, and just sensing the mood of the general populace - you can tell when people are getting antsy about their finances.
Right now - my indicators say we are at t good point right now.
I will add that the overall debt levels aren't good - but then if we got ourselves under control, that would slow the velocity of money flow.
It can be tough to grasp every aspect.
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You are right, a strong economy overall does not mean that every sector is doing well. I believe GDP has it's limitations in assessing overall economic growth, but I think it does tell part of the story and the Q2 number is pretty bad. The 2% we grew was driven by consumer and government spending. Businesses invested less and we exported less.
By your own indicators, things are not all that great.
1. Employment levels: Both the overall labor participation rate and the labor participation rate amongst those ages 25 to 54 is lower today than it was in November 2007, the month before the Great Recession began
Sources:
https://fred.stlouisfed.org/series/LNU01300060
https://fred.stlouisfed.org/series/CIVPART
2. Wages with respect to prices: Median consumer prices has outpaced nominal wage growth
Sources:
https://www.epi.org/nominal-wage-tracker/
https://fred.stlouisfed.org/series/MEDCPIM158SFRBCLE
3. How the middle class is doing: Losing ground
Source:
https://www.pewresearch.org/fact-tan...come-families/
4. How people feel about the economy: Consumer confidence is down
Source:
https://www.reuters.com/article/us-u...-idUSKBN1W9297
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