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Economic success and strength has measurable metrics. Just a few examples:
Unemployment Rate
Labor Participation Rate
Overall GDP
Per Capita GDP
Average Household Income
Everything else is stuff that can be spun and lied about. All of the above were up -- most of them way up -- prior to the Chinese Communist Flu. Even the one metric that Obama could never pretty up -- Labor Participation Rate -- finally flattened and was inching upwards under Trump. If you recall, this was the metric that would get brought up every time Obama's faithful were shouting his praises on the economy (later in his second term). The excuse was, "The LFPR is dropping because Boomers are retiring. We should expect to see this metric continue to trend downwards for years to come, so just ignore it." Well, even LFPR was trending upwards, so even the nitpickiest of actual measures demonstrated that we were doing awesome.
The MSM hates Trump and would have loved to have reported that we were sinking into the abyss economically. They couldn't substantiate such a claim so they generally just didn't bring it up. Instead, they obsessed about the Russiagate conspiracy theory, the Ukrainegate conspiracy theory and they're now working on their third ridiculous conspiracy. But you seem to be plugged into a conspiracy theory universe where Obama never saw any economic recovery at all and Trump never saw an economic boom. You're welcome to your opinion, but the facts simply don't back it up.
As I said, a compelling argument can be made that the Titanic never sank as long as you rethink things and redefine terms, etc. Well good for you, but the Titanic did actually sink and we were in the middle of the biggest economic boom in my lifetime prior to the Chinese Communist Flu.
you are looking at the rosy figures that the govt paints so that they can appease the masses. the underlying economy was not healthy.
a booming economy does not need low interest rates.
a booming economy does not QE.
a booming economy does not to step into the repo markets to provide liquidity.
a booming economy does not deficit spend.
a booming economy would not see the yield curve invert.
I don't care if it happened under trump or obama. that's not what this is about. I don't participate in partisan politics.
to be clear, the economy was not healthy for the past 10 years, obama or trump, D or R, left or right.
Last edited by blahblahyoutoo; 08-06-2020 at 09:55 PM..
Economic success and strength has measurable metrics. Just a few examples:
Unemployment Rate
Labor Participation Rate
Overall GDP
Per Capita GDP
Average Household Income
The one very important metric you left out was DEBT. Both corporate and government debt were still going up a lot, even before the crisis. All of this good economy stuff was propped up by debt. The only debt that had dropped modestly was consumer debt.
you are looking at the rosy figures that the govt paints so that they can appease the masses. the underlying economy was not healthy.
a booming economy does not need low interest rates.
a booming economy does not QE.
a booming economy does not to step into the repo markets to provide liquidity.
a booming economy does not deficit spend.
a booming economy would not see the yield curve invert.
I don't care if it happened under trump or obama. that's not what this is about. I don't participate in partisan politics.
to be clear, the economy was not healthy for the past 10 years, obama or trump, D or R, left or right.
The one very important metric you left out was DEBT. Both corporate and government debt were still going up a lot, even before the crisis. All of this good economy stuff was propped up by debt. The only debt that had dropped modestly was consumer debt.
exactly. we are borrowing from the future to fund today's spending.
debt is what enables us to have the appearance of prosperity. it's just like a poor person maxing out all his credit cards to buy luxury goods but he'll be making minimum monthly payments for the rest of his life.
what constitutes consumer debt?
even if excluding home loans... auto, LOCs, credit card, student loans were all on the rise.
exactly. we are borrowing from the future to fund today's spending.
debt is what enables us to have the appearance of prosperity. it's just like a poor person maxing out all his credit cards to buy luxury goods but he'll be making minimum monthly payments for the rest of his life.
Correct.
The U.S., most of Europe, and Japan have been gorging on debt for decades, and now we're all printing huge amounts of money as well. I don't believe this is going to take us to a good place, to say the least.
The people who understand this don't need to be told. The people who need to be told don't want to understand it.
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