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What part did you find amazing? His economic illiteracy?
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antipodean said:
What part did you find amazing? His economic illiteracy?
He has ushered in the highest GDP the western world. Lowest ever black unemployment and growing confidence. But keep on bitching....
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Baron Silas Greenback said:
antipodean said:
What part did you find amazing? His economic illiteracy?
He has ushered in the highest GDP the western world. Lowest ever black unemployment and growing confidence. But keep on bitching....
Out of curiosity, do you also give the Obama administration any credit for the origins of that unemployment trend (post-GFC)?
While acknowledging that Trump has continued it.
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The USA has had the highest GDP of all countries for my entire lifetime, and some before that I would think.Trump didn't do that, large numbers of smart people did for a long time.
I do agree that he is doing alright though and the doomsayers were wrong. Still find it hard to warm to him in any way.
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Snowy said:
The USA has had the highest GDP of all countries for my entire lifetime, and some before that I would think.Trump didn't do that, large numbers of smart people did for a long time.
I do agree that he is doing alright though and the doomsayers were wrong. Still find it hard to warm to him in any way.
Can you name other presidents that have had over 4% GDP growth?
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@donsteppa Noy much no. Pretty much anyone could have got the US back to normal baseline figures. But to break below .. well below the 'normal baseline' is a whole different challenge.
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Baron Silas Greenback said:
Snowy said:
The USA has had the highest GDP of all countries for my entire lifetime, and some before that I would think.Trump didn't do that, large numbers of smart people did for a long time.
I do agree that he is doing alright though and the doomsayers were wrong. Still find it hard to warm to him in any way.
Can you name other presidents that have had over 4% GDP growth?
Right, so highest GDP "growth". Not what you said but O.K.
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Historical US GDP growth. I'll try and find a better graph, but outside of WWII, Clinton, Reagan, and some of the 60's and 70's Presidents look to have had their moments of 4%. Bush Snr, Jnr, and Obama as the GDP outliers)
GFC nowhere near as bad as the Great Depression thankfully...
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U.S. average annualized GDP growth rates, by term.
Before anyone gets too excited though about the Democratic Republican differences:
Democrats would no doubt like to attribute the large D-R growth gap to better macroeconomic policies, but the data do not support such a claim…. It seems we must look instead to several variables that are mostly “good luck.” Specifically, Democratic presidents have experienced, on average, better oil shocks than Republicans, a better legacy of (utilization-adjusted) productivity shocks, and more optimistic consumer expectations (as measured by the Michigan ICE).
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Baron Silas Greenback said:
Snowy said:
The USA has had the highest GDP of all countries for my entire lifetime, and some before that I would think.Trump didn't do that, large numbers of smart people did for a long time.
I do agree that he is doing alright though and the doomsayers were wrong. Still find it hard to warm to him in any way.
Can you name other presidents that have had over 4% GDP growth?
Yep. Truman, Kennedy and Johnson (thanks Don).
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Kirwan said:
Either way, Trump was supposed to be a disaster and he clearly hasn’t been.
I'd ignore the economic punditry coming from MSNBC etc. The fact of the matter is free trade benefits all who participate. Applying tariffs and rampant protectionism will only cause harm in the long run as it punishes the productive areas of an economy to prop up the unproductive. I'm sure Americans don't actually want to find everything now costs 30% more at Walmart for example.
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Kirwan said:
Either way, Trump was supposed to be a disaster and he clearly hasn’t been.
I think if the trade war with China does turn out to be 'quick and easy to win', then this term will finish as one of the historic economic ones. If not, then it might end up more average.
I haven't seen much on here about the trade war, and not much in the main headlines - buried by the noise I suppose. China will take a much longer term view of what's going on so it won't be "quick", but beyond that there seem to be a lot of varying theories/guesses out there...
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antipodean said:
Kirwan said:
Either way, Trump was supposed to be a disaster and he clearly hasn’t been.
I'd ignore the economic punditry coming from MSNBC etc. The fact of the matter is free trade benefits all who participate. Applying tariffs and rampant protectionism will only cause harm in the long run as it punishes the productive areas of an economy to prop up the unproductive. I'm sure Americans don't actually want to find everything now costs 30% more at Walmart for example.
The problem is that it was never free trade. This was a complete illusion. In any case I don't see China wanting to have a protracted trade war. They're fucked too if Americans stop buying their shit
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Snowy said:
Baron Silas Greenback said:
Snowy said:
The USA has had the highest GDP of all countries for my entire lifetime, and some before that I would think.Trump didn't do that, large numbers of smart people did for a long time.
I do agree that he is doing alright though and the doomsayers were wrong. Still find it hard to warm to him in any way.
Can you name other presidents that have had over 4% GDP growth?
Yep. Truman, Kennedy and Johnson (thanks Don).
So fuck all.... thanks me.
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antipodean said:
Kirwan said:
Either way, Trump was supposed to be a disaster and he clearly hasn’t been.
I'd ignore the economic punditry coming from MSNBC etc. The fact of the matter is free trade benefits all who participate. Applying tariffs and rampant protectionism will only cause harm in the long run as it punishes the productive areas of an economy to prop up the unproductive. I'm sure Americans don't actually want to find everything now costs 30% more at Walmart for example.
Free trade is a meaningless words. China and the EU dont engage in free trade. They are massively protectionist or predatory.
Trump is fighting for free trade. China and the EU are fighting for the status quo, which is them ripping everyone else off by protectionist and predatory practices. -
Donsteppa said:
Plus Clinton, Regan, and Carter in individual years, without bothering to go further back too. Truman, Kennedy, and Johnson are 4% plus annual averages across four years.
So over 20 years ago?
US Politics