Nobody knows about debt better than Trump.
Economics Thread
- Thread starter sturg33
- Start date
https://www.bloomberg.com/amp/news/...or-the-record-books?__twitter_impression=true
Sorry fellas. All time economic prosperity is set to continue which includes increases for the lowest status workers. That will show in the election results as people will not vote against their pocket.
Sorry fellas. All time economic prosperity is set to continue which includes increases for the lowest status workers. That will show in the election results as people will not vote against their pocket.
cajunrevenge
Well-known member
striker42
Well-known member
Blindly attributing financial success or ruin to a sitting President is usually foolish. The economy is such a complex monster that an individual president's economic policies often have little to no impact.
If you actually want an example of a President using his power to affect an actual positive impact on the economy, look at what Bush started and Obama continued during the financial crisis. Programs like TARP were horribly unpopular at the time but once thing calmed down it was revealed that they actually averted a much, much larger economic catastrophe. TARP actually made money.
But the inevitable waves of prosperity and recession are going to happen regardless of who is in office. Trump is riding a wave of prosperity after a severe recession. Obama rode that wave too. Eventually we'll have another recession. It wont be Trump's fault or, if it happens after he leaves office, the fault of his replacement. They naturally happen.
The whole debate about which president should get credit for prosperity or blame for recession is ridiculous to me.
Economic policy is absolutely driven by the executive branch via regulatory agenda.
To top it off when you have one president who pushes low corporate rates resulting in business investment then you can certainly attribute the health of the economy to the presidents actions.
To top it off when you have one president who pushes low corporate rates resulting in business investment then you can certainly attribute the health of the economy to the presidents actions.
cajunrevenge
Well-known member
I could not agree more. I am just trying to use little thethe and Sturgs talking points against them. They want to make IMPOTUS out to be economic genius with no context. I can and am doing the same with Obama. They want people to believe the economy was in shambles the day before the election and is now hitting historical highs because of IMPOTUS. That's bullcrap.
striker42
Well-known member
An individual president's changes to regulations affect the economy is like someone standing on top of a train opening or closing an umbrella. Sure there's either slightly more drag or slightly less drag. But the measurable impact on the train's speed is minimal. The train is still going to go where it's going to go.
There was an economic boom under Clinton. Was it caused by incredible economic policy implemented by Clinton? No. It was triggered by a massive new area of the economy being created, the internet.
What about the economic growth triggered by low energy prices? Should that be credited to Obama and Trump? Of course not. Advances in technology to tap more oil in non-OPEC countries have loosened the stranglehold OPEC has had on oil prices and put a cap on how high oil can get.
What about the financial crisis? Should that be completely attributed to Bush's economic policies? No. Years and years of out of control lending practices created an unsustainable bubble that eventually burst.
If you look back through history you find times of great prosperity or great economic crisis tend to have their roots in things other than a sitting President's economic policies.
striker42
Well-known member
It is complete, as you say, bullcrap. It's why I don't use the economy as a measuring stick for a president's performance. To me, fiscal responsibility is far more important. Sadly, almost every president fails on that scorecard.
What about the removal of regulations to allow more drilling in the US which helped drive down energy prices?
Companies are forward looking in their decision making process and if there is a pro business administration in power that isnt anti capitalist it makes a tremendous difference.
I'm not sure of any other way to make that more clear.
You correctly identified the dot.com and the housing crisis as significant external factors that drove the economy in either direction.
What is causing this boom that we are in which is extended past anyone reasonable expectation?
Julio3000
<B>A Chip Off the Old Rock</B>
If that were the case you’d think business investment would be rising.
For capital assets. Investment in workforce through total jobs and wage growth (your big ask) shows a different story.
Finally showed up to comment on this issue?
No comment about the data that showed a majority of the wage growth went to non supervisory workers though?