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THREAD: What's really happening with the economy?
Trump crows about how great the economy is under his "leadership." A lot of laypeople I've talked to lately seem to think the same thing.
But is the economy really booming? Let's look at some indicators. https://thehill.com/opinion/finance/468418-so-much-for-the-trump-economic-miracle#.XbyL9ilhKys.twitter
Trump crows about how great the economy is under his "leadership." A lot of laypeople I've talked to lately seem to think the same thing.
But is the economy really booming? Let's look at some indicators. https://thehill.com/opinion/finance/468418-so-much-for-the-trump-economic-miracle#.XbyL9ilhKys.twitter
Stock market prices are increasing at HALF the rate they did under Obama.Budget deficit has increased.Trade deficit has increased (+40%).Economy growing at barely 2% (same as Obama).2 quarters of investment loss, showing tax cut didn't work as promised.
The budget deficit is exceeding 5% of GDP and will be doing so for the foreseeable future.Our public debt is at ~100% of GDP and growing. That means we owe as much as we're making, and this problem is only getting worse as we move into the future.THIS IS NOT SUSTAINABLE!
Lessons:
Attacks on globalization only hurt us.
Recessions (perhaps inevitable) will be deeper than they should be.
Trump crippled himself (AND US!) with his tax and trade policies. And he's destroying America's credibility and opportunities for prosperity moving forward.
Attacks on globalization only hurt us.
Recessions (perhaps inevitable) will be deeper than they should be.
Trump crippled himself (AND US!) with his tax and trade policies. And he's destroying America's credibility and opportunities for prosperity moving forward.
Tired of people saying unemployment is so low under Trump? Me, too. Let's look at that.
Guess what? They changed the rules. Now, the unempl rate is only people who are receiving unempl insurance through the govmt.
The attached SS comes from the US Bureau of Labor Statistics.
Guess what? They changed the rules. Now, the unempl rate is only people who are receiving unempl insurance through the govmt.
The attached SS comes from the US Bureau of Labor Statistics.
If you're unemployed but you don't meet the strict conditions of unemployment insurance, or if you've been unemployed past the allowable number of weeks (I think that's 12), you don't count in the unemployment numbers.
Sneaky, eh?
So, no, the economy is NOT better under 45*.
Sneaky, eh?
So, no, the economy is NOT better under 45*.
