The Myth that Obama is responsible for the Trump economy

a reply to: neo96

If we give into your fantasy that it was Clinton's fault.. Who fixed it? It sure the heck wasn't bush. It wasn't Trump. Did it just magically disappear?

We have mentioned this before, stock markets run on speculation. Before the election stocks like banking, insurance, energy, big pharma were down across the board terrified of someone doing the correct things.. As soon as Trump won the election those stocks went up, and continue to go up because Trump is an idiot and will continue to let our society continue to do what it has in the past...

Drill baby drill.... No controls on Big Pharma.. No controls on health care.. No controls on Banking..

Of course it isn't that though right? Trump is a genius, and a very stable one at that. He is a bigly genius. And some inside the white house spends hours on end leaking all sorts of random tidbits for a bunch of conservative nerds to make stuff up and make some huge conspiracy against.

Okay.. Well back to reality for me..

a reply to: OtherSideOfTheCoin

Don't forget about all the days Trump spends on the golf course, watching TV and tweeting. Yet, his base will try to have us believe he alone created this economy in one years time while blaming Obama, because Obama. As you said, the first year of any presidency is just a residual of the last administration. This is well known and documented but of course here comes the spin from his base giving Trump all the credit for everything.

The stock market has gone up during his first year but the stock market alone doesn't represent the entire economy and it's probably going up because Trump is another Wall Street shill doing thy bidding, especially when it comes to cutting regulations and allowing for off shore drilling and whatnot. So he's making the elites a lot of money, yay!

a reply to: amfirst1

Look at the trend line starting with the recovery at the beginning of the Obama administration. There's a bit of a "Trump bump" but how much of that is attributable to the expectation that a Republican President from the business sector and a GOP-controlled Congress would be enacting a "pro-business" agenda.



The pro-Trump crowd that has been yammering about how Obama destroyed America, destroyed the economy, etc were undeterred by the reality that the same indicators leading them to fall all over themselves kissing Trump's ass were looking good under Obama for years.

For example, the DOW Industrial average.

Closing milestones of the Dow Jones Industrial Average

5.2.55 2013 (52 record closes)
5.2.56 2014 (38 record closes)
5.2.57 2015 (6 record closes)
5.2.58 2016 (26 record closes)
5.2.59 2017 (71 record closes)
5.2.60 2018 (3 record closes)

Also note, 57 of the 71 record closes in 2017 came before the election.

Or how about unemployment? Again, we've been hearing for the last several years about not only how Obama was destroying the US and its economy but that unemployment numbers were all bull#. Except now, the exact same unemployment numbers are being used to tout Trump and if you follow the trend line, Trump fan boys who spewed vitriolic hatred for Obama for years should have been giving Obama credit.



The trend lines don't lie. Recent trends in economic indicators are continuing. It's not like he turned something around (as much as any president actually influences the economy).

a reply to: grey580

That's not how the Stock Markets work. It is based on speculation. So people bet on what they expect will happen in the future. I am under the assumption that you do not have any stocks.

a reply to: theantediluvian

Obviously you did not read what I wrote. I told you the three causes for Obamanomics.

a reply to: amfirst1

When it all crashes and burns ,and it will,you will be the first to say that dam OOOObama

a reply to: hoss53

I don't foresee a reason why it would crash and burn. Trump pretty much destroyed all of Obama globalists policies, which made the market break records. He cut taxes which will boost the economy and next he will do a 1 trillion dollar infrastructure plan. That will further drive up the markets. So if you foresee something I don't. Let me know and we will examine it.

originally posted by: amfirst1
I have been hearing leftists say that Trump's economy is great due to the Obama policies, so we will dissect Obama's policies compared to Trump and learn why the stock market shot through the rooftop when Trump won the presidency.

First of all the leftwing intellectuals, said the economy will collapse if Trump wins. Boy did they get that wrong.

The reason why the stock market is at an all-time high when Trump won was due to his rhetoric and agenda that he made during the campaign. I know leftists are hard to admit this. It was due to his America First agenda and ending the lopsided Trade Treaties of past presidents, including Obama. You have to first understand the purpose of these globalist Treaties like NAFTA, TPP, Paris Agreement. It seeks to do one thing: to enact America's influence throughout the world and control the emerging markets. However, for this to work, it requires that wealth from the United States be redistributed across the world including jobs and finances. The people who benefit are the financial elites and the globalists corporations. However, it is not good for the working man because they now have to compete with third world salary which is unlivable wages. This is one of the largest root cause of inequality that the left refuses to discuss. However, Trump is on the target, which they will not acknowledge because it has been United States foreign policy since FDR. They realized that Colonialism was too difficult to accomplish, so they paired the Intelligence Agencies with the Financial Elites to push globalism. It's a more effective stealth means to take over the world than just conquering them militarily This became known by some as the deep state or shadow government. I call it the unelected fourth branch of government.

Second people say Trump has done nothing and the economy is great due to him inheriting the Obama economy. This is totally false. If you look at the stock market charts, it took off right when Trump won, when he cut regulations, and also broke records the very next day when he axed the Globalist Trade treaties like TPP and the Paris Agreement. If Obama axed those agreements than I will give him credit but he didn't.

Also, right after Trump passed the tax cuts, the stock market broke another record. Trump policies keep and hold wealth in the United States, which will be then used by the masses including corporations to inject in the stock market and increase wages because the wealth is not being redistributed around the world. This is driving the markets up. Therefore, the speculators are betting on President Trump based on the assumptions that I made.

Open borders is also another globalist agenda. It imports the poorest people from around the world, thus, driving America's wealth down. Then we have to hear it from leftists scream why America sucks so bad and education sucks, and they would rave about these other tiny countries, the size of the American States or even some counties. We literally import poverty and people with little education, and this is caused by leftists policies. U can't have it both ways.

Trump will prove leftists economics and paradigm completely wrong, so leftists should stop it with the hate mongering because, in the end, Trump is actually helping our fellow Americans. You have to understand we are in a global competition with the other countries. As the third world catches up with the first worlds, they will siphon off wealth until we meet in the middle. However, you want to enact policies to reduce the bleeding as much as possible and hope that more bleeding comes from other first world countries until the rest of the world catches up. This is exactly Trump's America First policy. It is the reason why nationalism is far superior to internationalism.

Now let's look at Obama's policies. The only reason why Obama did alright is due to three things. He had the feds pumped 4.5 trillion dollars into the stock market to give it the illusion that people were actually investing. This made his numbers look better, but it is all due to fed manipulation. Second, he bailed out the large corporations which preventing larger unemployment rate. Third, he had the feds lower the interest rates to zero which drove up real estate properties and easy money lending. These policies helped keep the Obama economy an afloat while implementing globalists policies that would have crashed the economy without the three listed manipulations.

Trump policies are far superior and he doesn't have to get the Central bankers to manipulate the markets. In Fact, the Central Bankers are working against Trump to slow down growth, by constantly trying to raise interest rates to slow down the Trump economy. The central Bankers do not work for the United States, they work to control the world. They can not have a country like the United States be extremely successful because it will affect the other countries, so they always have to drag down our economy when it is making a positive run.

Thoughts below..

I'm sorry, can you list the superior Trump policies that have impacted the economy?

Otherwise, you are saying that the economy is a complete fabrication subject to the whims of people that pay desperate attention to the media and shift the fortunes of the world on the whims of their interpretation of campaign talking points.

a reply to: Greven

Yes, and I repeated it many times. Ending Obama's globalists policies that redistributed America's wealth that created a vast gap of inequality. Globalism only helps the financial elites, which gave them even greater wealth, while the middleclass wealth was extracted to third worlds.

originally posted by: amfirst1
a reply to: Greven

Yes, and I repeated it many times. Ending Obama's globalists policies that redistributed America's wealth that created a vast gap of inequality. Globalism only helps the financial elites, which gave them even greater wealth, while the middleclass wealth was extracted to third worlds.

How strange, given that you have cited exactly 0 policies.

You make allusions to 'globalist' as if that means something specific. Please cite the actual policies. You know... Executive Orders, laws passed by Congress and signed by the President, executive branch agency policy, and such.

Anything concrete that President Trump has done? Names of any of them? Vague insinuations are meaningless.

a reply to: amfirst1

Obama’s policies feed the rich ? Man oh man no wonder you believe Q and are a Trump supporter. You just said all we need to know.

a reply to: amfirst1

Um..

I don’t even need to read your entire post because OBVIOUSLY everyone knows and has known for years. It takes years for your policies to be impelememted.. policies that trump has not even gotten passed, let alone had them implemented.

So the only even remotely reasonable argument is that the economic state is based on “wishful thinking”..

People investing and such because they ASSUME good things are comming..

Well that forgets that the majority of the country thinks trump is a bafoon, who has had legislative failure after failure.

Now the newly passed tax bill will have an effect, but they haven’t implemented any cuts to services yet, so we really have to subtract and benefit from that, assuming they do..


UNTIL THEY GET SOME SCUMBAG POLITICIAN THEY ARE PASSIONATE FOR, ANYONE AND EVERYONE KNOWS IT TAKES YEARS TO KNOW AND MEASURE THE EFFECTS OF A PRESIDENTS POLICIES....

to be fair both sides do it for their guy, and no sitting president ever passes the credit on to his predecessor. Lol

originally posted by: amfirst1
I have been hearing leftists say that Trump's economy is great due to the Obama policies

This is always the case.

The work of the previous president is reaped by the next president, because of the time it takes for changes to take effect.

Trump had 8 years of Obama's hard work, planting the seeds and growing the economy, so he came in reaping the rewards and looking good right away.

Can Trump keep the momentum going, however?

That's his test.

Remember, Trump started with his fathers wealth and built it into a bigger fortune. So, he has a track record of running with the winner, and making an even bigger win out of it.

Will he do the same for the American Economy?

In 4 years, we'll begin to see the effects of Trumps changes, and by the end of 8 years the verdict will be certain.

Wait and see.

Yeah uhm no. The stock market is not indicative of the state of the economy. Since 2008 the US has seen a great divide between wallstreet and mainstreet. Stocks and big corporations have yielded massive profits while the majority of Americans have seen sluggish wage growth while acquiring historic amounts of debt. The growth of the stock market is purely a result of the Fed trying to prop up wallstreet with low interest rates and QE. This has been the weakest recovery in modern history. I'm not sure the GDP has reached 3% growth since 08.

Trump has had very little effect on the economy with only a year under his belt. Most of the growth in stocks recently has probably had to do with the big corps and the rich getting tax cuts in the new tax bill. Otherwise he's pretty much riding the bubble Obama created that will probably burst sometime soon since its been 10 years since 08. Bitcoin is also very indicative of the recent stock market craze, don't buy into the hype.

Now I'm not saying there hasnt been some legitimate growth. There has. But not nearly enough to justify a 25k+ Dow.

a reply to: amfirst1

No I'm into crypto. And leverage trading traditional markets or forex with bitcoin.

And you do realize that the economy isn't just the stock market.

He actually has to sign an economic plan. We shall see if what he does bears fruit or puts us into a recession in the coming year.

a reply to: hoss53

Oh no I'll blame the real culprits the neo-Keynesians at the fed.

Did you know they have over 600 paid economists to justify their madness?

One thing Trump appears responsible for, is the huge run up in the price of Bitcoin.

During Obama's term, bitcoin hardly moved.

Under Trump, bitcoin took off and soared to great heights.

Since none of the "soaring" price movement of bitcoin can be attributed to the real value of the underlying, this movement is a testimony to the "Trump" version of "Hope".

Obama came in on the theme of "Hope".

But, there weren't any objective measurable parameters that indicated how people actually felt about that hope.

Under Trump, things are clearly different, since we now have an objective measurable statistic that characterizes how people feel about Trump's expected effect on the economy, thru the price movements of bitcoin.


Bitcoin is the Trump "hope" statistic.

Let's see how high it goes.

At the end of the year, we will see what the Trump economy looks like. The economy up till now has literally been based on hope and change.

a reply to: amfirst1

I didn't read your wall of text, because I didn't see any posted sources. How can you argue something is a myth without any data or evidence backing you up? I'm going to sum up your thread here (again without reading it) going by the evidence given in the OP (which is zero), "This is a myth because my feelings said so."

a reply to: AMPTAH

yeah but bitcoin is free from all regulation and government interference, so I don't think Obama can take any credit for it.