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Trump keeps touting how great the economy is but by what measure

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posted on Jan, 21 2020 @ 01:25 AM
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originally posted by: Justoneman
Kanye West bringing new Jobs to Wyoming from China


Speaking of Kanye West... he should keep off of horses while in Wyoming.





posted on Jan, 21 2020 @ 01:33 AM
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a reply to: ScepticScot

Trump inherited an ok economy. I wouldn't say it was good. Unemployment was 4.7%. GDP growth was 1.6%. Labor force participation was 62.8%. Job gowth was low but it was growing and had a long record of growth. It wasn't terrible. He's turned it into a great economy. Now GDP growth is above 2% and closer to 3%. Unemployment is 3.5% (statistical full employment). Labor force participation is up, job growth continues.



posted on Jan, 21 2020 @ 01:37 AM
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a reply to: matafuchs


Only Obama was right, most those jobs aren't coming back. Manufacturing as part of the US economy and share of jobs has declined for decades.

Manufacturing jobs have increased under both Trump and Obama ( as have all job types) but the US is not going to a manufacturing economy again.



posted on Jan, 21 2020 @ 01:43 AM
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originally posted by: Dfairlite
a reply to: ScepticScot

Trump inherited an ok economy. I wouldn't say it was good. Unemployment was 4.7%. GDP growth was 1.6%. Labor force participation was 62.8%. Job gowth was low but it was growing and had a long record of growth. It wasn't terrible. He's turned it into a great economy. Now GDP growth is above 2% and closer to 3%. Unemployment is 3.5% (statistical full employment). Labor force participation is up, job growth continues.


For GDP picking 2016, not a great year, and comparing with Trumps best year so far isn't really representative.

Unemployment was going down for almost the entire Obama Presidency. A trend that has carried on under Trump.

Obama economic record wasn't great but was consistent with longest period of continuous growth. Tortoise v Hare argument.

Trump has carried on most of the trends and improved some of them. However he hadn't radically turned round any of the key economic indicators.

I would actually agree that Trump has done better than Obama so far, but not to the hyperbolic levels that are often claimed.



posted on Jan, 21 2020 @ 02:41 AM
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originally posted by: ScepticScot

originally posted by: Dfairlite
a reply to: ScepticScot

Trump inherited an ok economy. I wouldn't say it was good. Unemployment was 4.7%. GDP growth was 1.6%. Labor force participation was 62.8%. Job gowth was low but it was growing and had a long record of growth. It wasn't terrible. He's turned it into a great economy. Now GDP growth is above 2% and closer to 3%. Unemployment is 3.5% (statistical full employment). Labor force participation is up, job growth continues.


For GDP picking 2016, not a great year, and comparing with Trumps best year so far isn't really representative.

Unemployment was going down for almost the entire Obama Presidency. A trend that has carried on under Trump.

Obama economic record wasn't great but was consistent with longest period of continuous growth. Tortoise v Hare argument.

Trump has carried on most of the trends and improved some of them. However he hadn't radically turned round any of the key economic indicators.

I would actually agree that Trump has done better than Obama so far, but not to the hyperbolic levels that are often claimed.





Might want to ask the stockmarket and middle america about that, and start searching on duckduckgo.com instead of google, because youll find stories there that tell the actual truth over what they WANT you to hear.

wake up........

(signed a non trump voter)

Job growth



To those who cant read thats 8.8 million more jobs than obama in his whole presidency, and the others show the DROP before Trump was elected........

So no he wasnt "Riding" anything............
edit on 1/21/2020 by ManBehindTheMask because: (no reason given)



posted on Jan, 21 2020 @ 03:12 AM
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a reply to: ScepticScot



I would actually agree that Trump has done better than Obama so far, but not to the hyperbolic levels that are often claimed.


I agree mostly.

The biggest difference in the trump economy vs the obama economy is the wage growth and the type of jobs available. Under obama we were getting almost all minimum wage or slightly above minimum wage job growth. Under trump we are getting more trade jobs which pay much better and develop a viable career path. Wage growth has been exceptional. Under obama there were only two years where pay raises were the norm. So far all three years of trump have resulted in significant pay raises being the norm.The wage growth stats bear this out.



posted on Jan, 21 2020 @ 03:24 AM
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originally posted by: gortex
a reply to: dfnj2015

With a National debt at over 100% of GDP and rising the American economy looks far from healthy , add to that the majority of GDP comes from services and borrowing the US economy looks fragile regardless of what the stock market is doing at the moment.

I'm no economist but there will come a point where the interest on that debt alone becomes unsustainable.


That has me worried too. Especially since most Treasury bills that get issued are for fairly short terms, like 5 or 10 years. When they come due, new bills have to be issued to cover the cost of paying out the old ones.

If interest rates go up, the whole debt will get refinanced to that higher rate in about 10 years time.

So even if the debt didn't continue to grow we could be hosed.



originally posted by: ScepticScot
a reply to: matafuchs


Only Obama was right, most those jobs aren't coming back. Manufacturing as part of the US economy and share of jobs has declined for decades.

Manufacturing jobs have increased under both Trump and Obama ( as have all job types) but the US is not going to a manufacturing economy again.





It's just too high risk. You never know when the tariffs will go back down, and all those shiny new factories you just invested hundreds of millions in setting up will sit vacant.


I'm in favor of growing the unskilled wage as big as possible, because as near as I can tell, ALL THE SKILLED wages are based of some multiple of the unskilled one.

If your skilled job pays 2x the unskilled wage, and the unskilled wage drops a dollar, then your wage will probably drop 2 dollars. (Or just stagnate while inflation goes up until it's worth 2 less inflation adjusted dollars.)



posted on Jan, 21 2020 @ 03:35 AM
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a reply to: bloodymarvelous



ALL THE SKILLED wages are based of some multiple of the unskilled one.


At no point in my career history was my wage based on the wage of another position. In fact the few times that I've known the unskilled wage increased, I have never seen an increase.



posted on Jan, 21 2020 @ 03:36 AM
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a reply to: ScepticScot

2018 the share of the economy that was manufacturing jobs increased. It was the first increase in share since 1984.



posted on Jan, 21 2020 @ 03:47 AM
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Here, you can look at it as a chart. When I say "unskilled" I don't mean "minimum" wage. You can be an unskilled worker and still make more than minimum wage.

www.bls.gov...






For the most part, if you look at the various percentiles, they follow a more or less straight diagonal line upwards. If one goes up by a millimeter the next goes up by a directly proportional amount.

This of course an average. Individual results may vary. (Just like how most Americans don't actually have 2.5 children.)



posted on Jan, 21 2020 @ 04:35 AM
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a reply to: bloodymarvelous

I didn't think you meant minimum wage.

That chart doesn't tell me anything about increases in unskilled wages translating to increases in skilled wages. Nothing on that page does.
edit on 21-1-2020 by Dfairlite because: (no reason given)



posted on Jan, 21 2020 @ 09:04 AM
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One needs to look extremely hard or make up new metrics to find fault with the current economy.

It is yuuuuuuuuuuuuuuuuuuuuuuuuge.



posted on Jan, 21 2020 @ 12:09 PM
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a reply to: jjkenobi

One person on this site literally said Trump's economy is a sham and sucks because we still have poor people.



posted on Jan, 21 2020 @ 12:25 PM
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Yet still in far to many middle class house holds both husband and wife need to work just to get buy; And many still work 2 jobs. We do....



posted on Jan, 21 2020 @ 12:39 PM
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originally posted by: ManBehindTheMask

originally posted by: ScepticScot

originally posted by: Dfairlite
a reply to: ScepticScot

Trump inherited an ok economy. I wouldn't say it was good. Unemployment was 4.7%. GDP growth was 1.6%. Labor force participation was 62.8%. Job gowth was low but it was growing and had a long record of growth. It wasn't terrible. He's turned it into a great economy. Now GDP growth is above 2% and closer to 3%. Unemployment is 3.5% (statistical full employment). Labor force participation is up, job growth continues.


For GDP picking 2016, not a great year, and comparing with Trumps best year so far isn't really representative.

Unemployment was going down for almost the entire Obama Presidency. A trend that has carried on under Trump.

Obama economic record wasn't great but was consistent with longest period of continuous growth. Tortoise v Hare argument.

Trump has carried on most of the trends and improved some of them. However he hadn't radically turned round any of the key economic indicators.

I would actually agree that Trump has done better than Obama so far, but not to the hyperbolic levels that are often claimed.





Might want to ask the stockmarket and middle america about that, and start searching on duckduckgo.com instead of google, because youll find stories there that tell the actual truth over what they WANT you to hear.

wake up........

(signed a non trump voter)

Job growth



To those who cant read thats 8.8 million more jobs than obama in his whole presidency, and the others show the DROP before Trump was elected........

So no he wasnt "Riding" anything............


Economic stats don't care what search engine you use and Trump hasn't added 8.8 million jobs total never mind more than Obama.



posted on Jan, 21 2020 @ 03:37 PM
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originally posted by: dfnj2015
Maybe someone can post some kind of economic data showing me how great the economy is because I don't see it. It seems to me all Trump's touting is nothing but BS.


I remember endless similar discussions in 2006 and 2007. So many people parroting how great the western economies without looking at either the fundamentals or how the economy was working at street level.

We have a similar situation now. Economic bubble + deregulation = it's only a matter of time til the average working man gets a sore bottom again.



posted on Jan, 21 2020 @ 04:38 PM
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originally posted by: jjkenobi
One needs to look extremely hard or make up new metrics to find fault with the current economy.

It is yuuuuuuuuuuuuuuuuuuuuuuuuge.


Healthcare costs. Housing costs. Education costs. This is coming from a Trump voter, so no flame please.

As much as a I support our president, you'd have to be purposely obtuse to not find any fault in our current economy. Not his fault though, he inherited these bad policies, and laws. Look at wages now, compared to 1972 and the amount of hours worked needed to pay tuition. That alone should give a good indicator.


edit on 21-1-2020 by KnoxMSP because: (no reason given)



posted on Jan, 21 2020 @ 04:56 PM
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Think about it....

If an individual had the kind of debt the US has, they wouldn't be bragging how great their paycheck has improved. They would be bankrupt.

You call this fiscal responsible? The GOP use to be the party of fiscal responsibility.


www.worldometers.info...
edit on 21-1-2020 by olaru12 because: (no reason given)


Trump brags the economy is the best its ever been. BS, not for the American working man!!

markets.businessinsider.com...-economic-grow th-as-measured-by-quarterly-gdp-growth-rates-has-been-steady-1
edit on 21-1-2020 by olaru12 because: (no reason given)



posted on Jan, 21 2020 @ 07:53 PM
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a reply to: KnoxMSP

You don't compare the economy to the perfect economy, you compare it to what it was in 2015 and 2016.



posted on Jan, 21 2020 @ 07:54 PM
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originally posted by: olaru12
Trump brags the economy is the best its ever been. BS, not for the American working man!!

Actually the working man is reaping most of the rewards of the Trump economy. Most of the wage growth is going to the bottom 40%. Stop spreading fake news.



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