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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World Survives Eclipse-Western Wisconsin Road Trip-Podcast 742

World Survives Eclipse-Western Wisconsin Road Trip-Podcast 742

Sometimes an eclipse is just an eclipse. Friday’s ‘Blood Moon Lunar Eclipse‘ did not destroy the world as predicted. These days someone needs to keep track of the soothsayers! We’ll talk about it in World Survives Eclipse-Western Wisconsin Road Trip-Podcast 742.

Best Economic Growth Ever!

Friday also marked the release of first quarter Gross Domestic Product numbers. To hear the president tell it, 4.1 percent economic growth is historic. Hear my take on the first blush of reporting on the good economic news in World Survives Eclipse-Western Wisconsin Road Trip-Podcast 742.

Does It Matter?

On a desolate lake road in Western Wisconsin at midnight, in the full moonlight, one wonders whether any of that matters anyway! What’s more the silence here in the middle of nowhere is incredible.

No Rules No Prep

I took a short road trip to what we like to call “God’s Country” to talk about organic farming. I’ll take that up in the next podcast. Every now and then I have to do walk and talk podcasts. No rules. No Prep. I call these ‘consolidation podcasts’.

A Midnight Walk Is Good For Making Sense Of It All

Because things seem to happen so frequently, following the news can be a head spinner. I do these walk and talk podcasts, usually at midnight, to try to make sense of it all.

News Flash! World Doesn’t End!

Furthermore last week the boomers were predicting the end of the world after the big eclipse. On top of that we are whipsawed by reactive coverage of the news. Getting subscribers and listeners to the Bob Davis Podcasts on track at the beginning of the week is one of my missions.

Good News Is Good News

Most noteworthy for this podcast is the release of the new economic data. 4.1 percent GDP growth in a single quarter is not unprecedented or even historic. It is good news. The key here is what caused the growth? Moreover is the growth sustainable?

Finding Truth At Midnight

In conclusion this week you may hear a lot of chatter about the economic numbers. Due to partisanship equal amount of chatter passing for ‘analysis’ will be negative and positive. Above all listeners wonder what to look for to find information without partisanship.

Sometimes you find a little bit of truth on a quiet country road in the mist and moonlight!

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World Survives Eclipse-Western Wisconsin Road Trip-Podcast 742

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Unbounded Optimism-Exuberance-Technology Revolution-Age Of Trump-Podcast 707

Unbounded Optimism-Exuberance-Technology Revolution-Age Of Trump-Podcast 707

The economy is booming. Everything is getting better. Talk to a Trump supporter these days and that’s what you’ll hear. We’ll discuss it in Unbounded Optimism-Exuberance-Technology Revolution-Age Of Trump-Podcast 707.

The Economy Is Booming

A few weeks ago the Atlanta Federal Reserve, known for its bullish predictions, announced first quarter 2018 economic growth might be as high as 5.4 percent. It sure seemed to make sense, to hear main street tell it. Wall Street seemed to agree. In Unbounded Optimism-Exuberance-Technology Revolution-Age Of Trump-Podcast 707.

Wait! What? But You Said The Economy Was Booming!

This week the same Atlanta Fed announced a revision of its earlier prediction, suggesting economic growth for the United States might only be 1.3 percent. Less than the 2+ percent growth in the fourth quarter of last year, which was hardly booming.

We Have To Make Stuff, right?

We’ve been hearing it for awhile. America doesn’t make stuff anymore. Trump’s gonna fix it. Trade protection for the struggling manufacturers. Help for the broad shoulders of America’s industrial past. Trump’s gonna show ’em all. Find out if this is true in Unbounded Optimism-Exuberance-Technology Revolution-Age Of Trump-Podcast 707.

Where Is The Greatest Generation When You Need Them Say The Baby Boomers

Whether it’s your local Tea Party guy or President Clinton’s former labor Secretary Robert Reich, the chant is the same. We don’t make stuff anymore. Sudden authorities on the subject of character point to World War II heroes and 1930’s social welfare warriors as paragons of virtue. The past sure seems sweet to the baby boomers these days.

Suddenly the 1950’s are back.

Forget Big Oil and Banking Go After The Tech Guys

Especially relevant are the Steel and Oil barons. They used to be the villains. Now it’s the tech guys. Republicans used to be against regulation right? Suddenly the republicans and democrats want to regulate social media and search engine tycoons, because ‘something’s got to be done’. Listen to Unbounded Optimism-Exuberance-Technology Revolution-Age Of Trump-Podcast 707.

Smells Like Reagan But…

Administration officials talk trade protection and a weak dollar. So called conservatives add trillions of dollars in debt to pay for tax cuts. There’s talk about increasing taxes on gas and diesel and spending hundreds of billions more on building bridges and roads. There’s talk of US involvement in war in Syria and on the Korean peninsula. These are republicans?

Does that sound like the Reagan Revolution to you?

Everywhere an unseen revolution in technology is eroding and wiping away institutions, including government. The right and the left have lost their way. Big change is upon us. We’re going to have to figure out what comes next because our leaders never will

Are we?

In conclusion we can’t go back to the 1950‘s. However, we can’t seem to move forward. What’s our role in creating the future. What are the most important values in a world where human beings may live hundreds of years longer, robots will farm and manufacture, money will be on your hand held device, cars and trucks will drive themselves, drones will deliver and your robot girlfriend may be a lot smarter than you!

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Unbounded Optimism-Exuberance-Technology Revolution-Age Of Trump-Podcast 707

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