Booming US Economy-Reality Check-Bob Davis Podcast 811

Booming US Economy-Reality Check-Bob Davis Podcast 811

These days Trump cultists love to talk about the booming economy. Time for a reality check. Learn more in Booming US Economy-Reality Check-Bob Davis Podcast 811.

Under 3 Percent

Especially relevant are Gross Domestic Product numbers from the 4th quarter of 2018. The average for the whole year is predicted to be under three percent.

Cherry Picking Numbers

Boosters like to cherry pick statistics. I like good old Gross Domestic Product numbers. They are released at the end of every quarter. GDP performance for each fiscal year is pretty hard to ignore. Especially when people say this president has ‘fixed’ the economy and worked miracles.

Just Because You Do Well Doesn’t Mean The Economy Is Doing Well

Moreover if I’ve heard it once I have heard it a thousand times. Saying your business is doing well does not mean the economy as a whole is doing any better than it has. The latest retail performance is a good example. This distinction is important only because the president wants us to believe he “blows Ronald Reagan Away”.

Objective Legislative Achievements On Economy

In Booming US Economy-Reality Check-Bob Davis Podcast 811 I objectively list President Trump’s few legislative achievements when it comes to the economy as well as his executive orders concerning the economy.

Hardly A Boom

In 2017 the US Economy grew by 2.2 percent. First quarter of 2018 was 2.2 percent. Second quarter 4.2 percent. Third quarter 3.4 percent. Fourth quarter 2.6 percent. Hardly a boom.

Not Even As Good As Obama

In contrast, President Obama’s best year was 2015, at 2.9 percent. Obama also presided over one quarter of growth of 5.1 percent, followed by another quarter of 4.9 percent growth. Better than Trump’s best two quarters so far.

Actual GDP Numbers

First of all growth is growth and we’ll take it. However, because of republican claims of great economic success, it’s time for a reality check based on actual GDP numbers.

And Obama Wasn’t That Good Either

At issue are claims by the president and his supporters he has done a fantastic job. Truth is so far his numbers are still about the same as Obama’s, which weren’t very good either.

We Pale In Contrast To The Early 80’s, Mid and Early 1960’s and 1950’s

Even more, all the numbers in our time pale in contrast to performance above 7 percent in the 80’s, high six percent in the 60’s and above 8 percent in the 1950’s.

Contrast our time with the 1980’s, 1960’s, or 1950’s.

What we’re living through is not a boom.

Republican Doesn’t Mean Conservative Anymore

Finally a republican in the White House does not guarantee ‘conservative’ economic management. Pushing for a weak dollar. Borrowing to stimulate. Trade Protection. Adding trillions to the national debt. More debt and deficit spending for ‘infrastructure‘ don’t seem like ‘republican‘ ideas.

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Booming US Economy-Reality Check-Bob Davis Podcast 811

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Podcast 277

Christmas 2014! Live from the mall for the last few hours of Christmas shopping. Getting through the shortest days of the year in the Northern Hemisphere, celebrating the return of the light. This has been a weird holiday season, news wise. With the NYPD police/protester story, and the recent police involved shooting in the Saint Louis Metro, as well as the Sony Hack continuing story the News Watch Never Stops at the Bob Davis Podcasts. So, in a soft way, updating you for Christmas Day, 2014. As protests and police involved shootings continue to happen and people fire off uninformed and ignorant missives to each other on social media, this one may just have to run its course. On the Sony front, the FBI says North Korea did it. Does the FBI have enough evidence to say North Korea is responsible? There will be time to get back down in it, after Christmas. Aside from the lurid stories, the meatiest story this week has been the 3rd quarter economic numbers that have the media, and the President crowing ‘boom’. Is it? The new 5% GDP numbers are revisions, but the media doesn’t explain why US Economic numbers are revised at least three times, and then revised annually. Now the media is rolling every anecdotal experience into the numbers as ‘proof’ the ‘US is back!’. In this podcast, we’ll look a little deeper into those numbers to help you decide what they mean, and inform your decision on whether you think things are ‘booming’, economically speaking. Denver is experiencing an increase in its homeless population. The theory is, they are coming for legal pot. Watch out for the new advice on the ‘homeless’. When you see a street person you’re supposed to engage with them, in order to see them as human beings. This is a dangerous course of action, and really irresponsible, especially if you have small children with you. We all feel bad for those less fortunate, but some of them are dealing from a very challenged perspective, and you don’t know what they’ll do at any moment. Stay clear for your own safety. You’ve heard of the Obama Phone? Now they want to give people free broad band internet access. Yep. The Internet is a human right, which means the rest of us should pay for it, with additional charges on our phone bills, so people less fortunate can have free Internet. Finally, Miley Cyrus is banned from the Shriver/Kennedy Christmas Celebration in Massachusetts. Cyrus is dating Maria Shriver and Arnold Schwarzenegger’s son Patrick, and momma doesn’t like her. (Editor’s Note: Aside from the fact that Cyrus probably has more money than the Kennedy’s, and if she doesn’t she will, at least she works, and doesn’t just lay about lending her name to every left wing cause that comes down the pike. Miley, you’re better off!) Sponsored by Autonomous Cad. 

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