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Frequent Social Butterfly
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Re: The MYTH of the Trump Economic Miracle

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I was going to dissent to the idea that there was any Trump Economic Miracle. 

 

But then I realized that the point of this thread was that the Trump Economic Miracle exists only in Der Trumper's mind!

 

What an idiot that guy is. Merry Christmas to all!

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Re: The MYTH of the Trump Economic Miracle

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Message 2 of 9

When you pour gasoline (huge tax cuts for the wealthy and corporations) onto an already roaring fire (the Obama recovery from the Bush recession), the resulting fireball is predictable. However, once you have consumed all the fuel while not adding any more, the result is the cold, dead ashes of a recession without any means of countering it remaining. 

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Re: The MYTH of the Trump Economic Miracle

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Message 3 of 9

@afisher wrote:

    Donald is always the victim and is never responsible for anything.   Those who are worried about their investments need to remember that when they read that the Market has suffered huge losses - and then of course, blame themselves...they voted for the guy who is never responsible for any negative information.   Bloomberg / Market Watch, etc.   


Well Except, He's Always Willing to Take Credit for Anything Good That Happens.................especially those things that have absolutely nothing to do with anything he's ever done

 

These Come To Mind

 

1. 2017 marked the safest year in global commercial aviation ever, with no passenger jet fatalities recorded.

 

2. Inventing the decades-old phrase 'Priming the pump'

 

3. Boosting Luther Strange (to a narrower defeat than he'd have otherwise suffered) in the Alabama GOP Senate primary

 

4. For having 'finished' off birtherism in 2011

 

5. Popularizing campaign 'airplane rallies'

 

6. Making a star of Lady Gaga

 

7. Winning the 2012 GOP primary in Nevada for Mitt Romney

 

8. Dismissing CEOs from his executive council as they quit

 

9. Restoring 'Merry Christmas' to the American vernacular

 

10. Setting off the 2017 Oscars 'Best Picture' announcement mess

 

 

Source - https://www.cnn.com/2018/01/02/politics/donald-trump-took-credit-for-what/index.html

 

 

 

 

( " China if You're Listening - Get Trumps Tax Returns " )

" )
" - Anonymous

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Valued Social Butterfly
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Re: The MYTH of the Trump Economic Miracle

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Message 4 of 9

   The nonsense of Donald's  "art of the deal" is being played out in real time.   

 

    Donald is proving that he doesn't have a clue as to how the market actually works in the much larger sense.    His idea of nationalism and laissez-faire does not work in the world today...well unless the area that he seems to want to control is under authoritarian rule.     He sense of winning is not viewed past himself.  .   Mr. Market is sending him a message that he doesn't want to acknowledge. 

PRO-LIFE is Affordable Healthcare for ALL .
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Treasured Social Butterfly
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Re: The MYTH of the Trump Economic Miracle

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Message 5 of 9

Trump Policies Rout Stock Market 1.png

 

 

Source - Bloomberg

 

 

( " China if You're Listening - Get Trumps Tax Returns " )

" )
" - Anonymous

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Re: The MYTH of the Trump Economic Miracle

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Message 6 of 9

So this morning, the clueless one attacks the Fed. Mr. President, how is that working out  for ya?

https://www.nbcnews.com/business/markets/dow-drops-653-points-worst-christmas-eve-trading-day-ever-n...

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Re: The MYTH of the Trump Economic Miracle

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Message 7 of 9

    Donald is always the victim and is never responsible for anything.   Those who are worried about their investments need to remember that when they read that the Market has suffered huge losses - and then of course, blame themselves...they voted for the guy who is never responsible for any negative information.   Bloomberg / Market Watch, etc.   

PRO-LIFE is Affordable Healthcare for ALL .
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Re: The MYTH of the Trump Economic Miracle

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Message 8 of 9
and now this tid bit, our Sec. of the Treasury made calls to banks before the China stock market opened in what is called a "plunge protection team" because the stock market has hit quick sand. 2019 is not going to be a good year for team Trump!! In any way, shape or form. It is all coming back to haunt Trump, and it won't be pretty when the shi* hits the fan!

https://www.yahoo.com/finance/news/u-treasury-secretary-convenes-calls-top-u-bankers-220937449--busi...
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The MYTH of the Trump Economic Miracle

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Message 9 of 9

The Myth of the ‘Trump Miracle’

 

The economy is doing great and the president wants credit. He hasn’t earned it.

 

It has been a tumultuous year for Donald Trump, brimming with legal scandals and high-profile White House departures. But the president should give thanks this holiday season, because he is the recipient of an extraordinary present—an economy gift-wrapped and tied with a big, beautiful bow.

 

After a terrible recession and a slow recuperation, America’s economy is in a record-setting mood these days.

 

Is this happening because of President Trump? Yes, according to President Trump.

 

“The reason our stock market is so successful is because of me—I’ve always been great with money,” Trump told reporters in November. “Virtually no President has accomplished what we have accomplished in the first 9 months, and [the] economy [is] roaring,” he said on Twitter. “At least we can all agree the economy is better under President Trump,” White House spokesperson Sarah Huckabee Sanders said, while also crediting job growth to a “Trump miracle.”

 

Like so many miracles, this is revisionist history. Even if Trump’s first 100 days had produced a bevy of new legislation, it typically takes about a year for policy to affect national economic statistics. But Trump’s first 100 days produced no major legislation, despite effectively unwinding Obama-era regulations for labor, environmental, and consumer protections. Instead, Trump is treating the U.S. economy the way he might treat the licensing of a fully built hotel: He has slapped his surname on the facade and shifted around the interior decor. But the foundation, scaffolding, and architecture of the thing either preexisted his term or are beyond his control.

 

But the overall rise in equity prices is part of a long, steady bull market. The S&P 500 has grown by about 20 percent under Trump. That’s great, but it’s actually less than the one-year increase in 2009 (26 percent) or, to pick a year that wasn’t starting from rock bottom, 2013 (32 percent) under Obama. What’s more, the U.S. stock market has actually done worse than most of the developed world in 2017. As a percent change in dollars, the U.S. has lagged behind the stock indices of France, Germany, Greece, Italy, Spain, Japan, China, India, Singapore, South Korea, Taiwan, Argentina, and Chile.

 

But upon closer examination, these aren’t Trump miracles. They’re part of a worldwide economic story that is affecting the U.S., because the U.S. is part of the world. The dollar has fallen 10 percent since December 2016—a gift for U.S. exporters—thanks to higher growth in Europe and the appreciation of the euro. Meanwhile, factories are on fire just about everywhere. By one measure, global manufacturing has surged higher than global services, a rare feat for an expanding global economy, and one that has nothing to do with the president.

Global PMI.png

 

 

 

Claiming individual credit for global phenomena is a risky long-term strategy for any president. If the price of energy plummets, the White House will find that the Trump miracle will end, through no fault of Trump. Between 2010 and 2014, Obama presided over a 30 percent boom in mining jobs, thanks to a burst in energy demand and a fracking revolution whose technology was decades in the making. Two years later, all of that net job growth had disappeared, as the global price for natural gas plummeted. Obama wasn’t the captain of the global market for energy; he was merely a powerful bystander. That’s just how it is: The president depends on the economy far more than the economy depends on the president.

 

 

 

 

Source - https://twitter.com/modestproposal1/status/942764129558958080/photo/1

 

Source - https://www.theatlantic.com/business/archive/2017/12/trump-miracle-economy-credit/548882/

 

 

 

( " China if You're Listening - Get Trumps Tax Returns " )

" )
" - Anonymous

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