Remember - 3 years later, it's OBAMA'S economy

[HisArpy]

The "expert" predictions of economic disaster should Donald Trump win the 2016 election did not occur. Under Trump, the Dow Jones Industrial Average and Nasdaq composite have reached historical highs while unemployment for blacks and Hispanics have hit historical lows. In the wake of Trump's undeniable economic success, what is the 2020 Democratic Party argument for why voters should back their candidate over Trump?

So, Democrats and their media sympathizers now resort to a new talking point: Trump merely continued the economic growth that began under the Barack Obama administration.

https://townhall.com/columnists/lar...-on-the-trump-economy-obama-built-it-n2561241

Seriously? This is what the Demmies have to counter the current state of the economy?

 

[Conager]

Except for that one week with a market correction when everyone said that it was now Trump's economy.

The economic and illiterate can't point to anything that the Obama Administration did or even tried to do so would have had the effect we're seeing now. It wasn't even their stated goal.

 

[Rightguide]

They can't let the Obama legend die the death it clearly deserves. He was the most corrupt, diabolical, ideologue, to occupy the White house. He really did want to "fundamentally change America." Interestingly, Bernie says he wants to do the same thing, and we know how, he has been a life long communist sympathizer.

 

[Adre]

US economic growth chart looks the same under Trump as under Obama. So either Trump’s doing the same shitty job as Obama did, or Obama did the same great job Trump is doing. Take your pick. Neither broke over 3%. And Obama wasn’t helped by an unpaid for tax cut.

 

[LincolnDuncan]

Obama inherited a robust economy and trashed it, man!

(I'm a recent convert to the Tea Party)

I'm wearing my 3 corner hat with tea bags hanging down

 

[Kantarii]

They’ll probably be screaming it’s Obama’s economy well after the 2024 election.

 

[adrina]

Obama inherited a robust economy and trashed it, man!

(I'm a recent convert to the Tea Party)

I'm wearing my 3 corner hat with tea bags hanging down

Oolong? Earl grey? Maybe a nice chamomile.

 

[LincolnDuncan]

Oolong? Earl grey? Maybe a nice chamomile.

Thorazine

 

[HisArpy]

US economic growth chart looks the same under Trump as under Obama. So either Trump’s doing the same shitty job as Obama did, or Obama did the same great job Trump is doing. Take your pick. Neither broke over 3%. And Obama wasn’t helped by an unpaid for tax cut.

Ok then, explain this:


On November 4, the DJIA was at 17,856. The national election on November 8,2016 gave us Trump as the incoming President elect. By January 20,2017, at approximately the time Trump was sworn in as President, the DJIA was at 18,611. By March 1, 2017 the DJIA was at 19,374.

From Sept 2015 until November 2016 the DJIA HIGH was 18,411 with no remarkable bullish trends and the occasional bearish losses. The market was basically limping along nearly flatline while Obama was President. Yet, as soon as Trump was elected on a platform of lower taxes and rolling back economy stifling regulations the Market took off like a rocket. And it's basically been gaining ever since.

Explain how Obama did that. I'm sure that a lot of people want to hear how upon voting to replace the outgoing President with someone who understands how business works, the economy recovered and it's the outgoing President's doing.

We'll wait while you google for an answer that waffles and deflects.

 

[DeluxAuto]

If Trump serves 2 terms, he'll preside over a recession.

 

[HisArpy]

If Trump serves 2 terms, he'll preside over a recession.

Can I borrow your crystal ball?

 

[DeluxAuto]

Can I borrow your crystal ball?

Know your history.

 

[HisArpy]

Oolong? Earl grey? Maybe a nice chamomile.

He's just trying to channel his inner Minnie Pearl in this new age so instead of a string with a price tag, it's a string with a tea bag on it.

 

[adrina]

Thorazine

Potent.

 

[HisArpy]

Know your history.

History doesn't predict the future with any precision.

 

[DeluxAuto]

History doesn't predict the future with any precision.

Every 'pub has suffered America through a recession. EVERY SINGLE ONE.

 

[HisArpy]

Every 'pub has suffered America through a recession. EVERY SINGLE ONE.

Several pubs that I know of went out of business during economic downturns. It's kind of way business and the economy works.

Meanwhile while you are deflecting and waffling, as I predicted, there's that bunch of statistics I posted about how the market took off the moment Trump was elected. Care to take a crack at why that's because of "Obama's economy"?

 

[icanhelp1]

Can I borrow your crystal ball?

They mention GDP never reached 3% under Trump. Even though he said he wanted high GDP growth, he's wrong on that one!!!. High GDP growth is not indicative of a healthy economy. 2% is perfect with full employment. This allows for wage growth and controls excesses, no need to develop asset bubbles and bring on inflation.

Let me add recession also

 

[OldJourno]

Every 'pub has suffered America through a recession. EVERY SINGLE ONE.

We had ours under Trump. It was in April.

 

[DeluxAuto]

Several pubs that I know of went out of business during economic downturns. It's kind of way business and the economy works.

Meanwhile while you are deflecting and waffling, as I predicted, there's that bunch of statistics I posted about how the market took off the moment Trump was elected. Care to take a crack at why that's because of "Obama's economy"?

I didn't deflect anything and in fact never addressed your comments. A lot of you have the need to argue without reading or comprehending what you're arguing about.

 

[icanhelp1]

^^^^^^^

The fact that GDP is at 1.9% and markets are climbing means that inventories are balanced with consumption, earning are not too far over their skies, and P/Es are good, and a good equilibrium exist. This will promote future growth on an even keel and resist recessionary tendencies.

 

[Adre]

Ok then, explain this:


On November 4, the DJIA was at 17,856. The national election on November 8,2016 gave us Trump as the incoming President elect. By January 20,2017, at approximately the time Trump was sworn in as President, the DJIA was at 18,611. By March 1, 2017 the DJIA was at 19,374.

From Sept 2015 until November 2016 the DJIA HIGH was 18,411 with no remarkable bullish trends and the occasional bearish losses. The market was basically limping along nearly flatline while Obama was President. Yet, as soon as Trump was elected on a platform of lower taxes and rolling back economy stifling regulations the Market took off like a rocket. And it's basically been gaining ever since.

Explain how Obama did that. I'm sure that a lot of people want to hear how upon voting to replace the outgoing President with someone who understands how business works, the economy recovered and it's the outgoing President's doing.

We'll wait while you google for an answer that waffles and deflects.

No need to Google anything. Only economic illiterates conflate the national economy and the stock market. As you’ll recall, I was referring to a GDP chart, which is a far better economic indicator. Frankly, the stock market is the only place to make significant gains so that’s where folks put their money these days. And btw, unemployment dropped 5 full points under Obama vs. 1.5 under the Stable Genius. And if Trump understands how business works as you say, how did he manage to put so many businesses (casinos!) into bankruptcy?

 

[Adre]

They mention GDP never reached 3% under Trump. Even though he said he wanted high GDP growth, he's wrong on that one!!!. High GDP growth is not indicative of a healthy economy. 2% is perfect with full employment. This allows for wage growth and controls excesses, no need to develop asset bubbles and bring on inflation.

Oh, so now 2% is perfect! According to the market geniuses here at the GB, 2% sucked under Obama. Fucking idiots.

 

[icanhelp1]

Oh, so now 2% is perfect! According to the market geniuses here at the GB, 2% sucked under Obama. Fucking idiots.

You really don't understand how the economy works! do ya?

I even said I believed Trump was wrong.

 

[Adre]

High GDP growth is not indicative of a healthy economy.

There’s no cure for dumb.