Quote:
Originally Posted by blahblahyoutoo
sorry to burst your bubble, but the economy was not good pre-covid. it was, well... a bubble.
stock market bubble, housing bubble...
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I disagree.
That "housing bubble" is still going strong here. What will happen when the foreclosures hit? I think it will be ugly with millions filing for unemployment and over 900,000 filing again this month.
You can research job growth, anybody can do that, unless you've been gas lighted into believing only right wing lies.
From 2011-2016 there was over 2 million jobs created per year. Over 3 million jobs were created in 2014 alone. Trump inherited 6 years and 4 months of positive employment growth. During Obama's administration unemployment peaked at 10% because of the recession. It was at 4.8% after Obama left office.
True, the GDP rate under Obama was at its worse with a -3.9%, but , we were coming out of a severe recession. After that low, the economy had 29 quarters of positive growth, that continued under Trump.
Obama had a high of 3.8% GDP rate in March of 2015. Trump's high? 3% after that big beautiful trickle down tax cut.
Don't even talk to me about the deficit.
Yes, the stock market increased 28% under Trump vs 11% under Obama, but is that Trump's doing? I don't think so. The stock market has 11 different sectors that contribute to its growth and foreign investors. How does one president control the outcome of all of those sectors and the whims of foreign investors? The stock market is a beast all of its own.
Has Trump's trade war benefited America? Ask the farmers now on corporate welfare. Ask the consumers paying through the nose for anything made in China, which is most of everything we buy.
Trump left office with 3 million less jobs than when he took over. Why? Covid of course. When you look at places that did a far better job like Taiwan, who never shut down their economy and people wore masks from day one, you understand with crystal clarity that Trump's lies cost us precious time containing this virus.
I don't see a bubble. I see a strong job market destroyed. I see misery living with this out of control pandemic that never should have happened in our country. I see a lot of hungry people and unemployed that can't pay their rents or mortgages.
Did Trump do good things? Yes he did. He brought back 6 million manufacturing jobs, at the cost of the environment, but if jobs is all you value then look the other way.
It's just about all gone now. Biden inherits a 6.7% unemployment rate. Not quite as bad as what Obama had to deal with. Fortunately, science came to our aid and developed multiple vaccines for Covid. I think Biden's team will do a better job of distribution than team Trump. I see the relief in Fauci's eyes when he speaks freely about the task ahead. Maybe, just maybe, all of the real best people will manage to pull us out of this Covid nightmare.
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