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

Storm Clouds Gather Over The Bull Market-Podcast 665

We don’t see the storm building over the markets. Distractions. Shiny things that draw the eye and ear. A war of words between a North Korean dictator and the president. Kneeling football players and the Tweeter In Chief. Meanwhile, the long expansion in the markets may be about to end. A heads up for you on how and why in Storm Clouds Gather Over The Bull Market-Podcast 665.

Watch The Shiny Thing

We don’t look beyond the distractions in the media to see what they conceal. No amount of pointing and saying ‘look’ is going to change it. We have not had a serious market or financial crisis since 2008. Our economy has been on life support ever since. Now the DNR order has been signed. Find out why in Storm Clouds Gather Over The Bull Market-Podcast 665.

Market Shocks Have Political Consequences

Remember 2008? The market crashed. The banking system was going to seize up, they said. A republican administration suddenly bailed out the banks, insurance companies and big car companies. The shock changed politics. A new administration came in, in 2009. New banking regulations, more government spending and a very large stimulus package was passed by congress.

Hey! What Happened To The Punch Bowl?

The Federal Reserve, bank of last resort, began a program called Quantitative Easing in 2009. Over the next eight years the FED added trillions of dollars to its balance sheet as it ‘injected’ money into the US economy. QE one, two three and four indirectly supported the stock market through the purchase of hundreds of billions of dollars worth of securities. What happens when they take that away?

Pay Attention

So this is a simple heads up that it might be time to start paying attention. While we’re talking about things that don’t matter they are doing things that do. That storm roiling to the west, might be rolling in anytime. In Storm Clouds Gather Over The Bull Market-Podcast 665.

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Storm Clouds Gather Over The Bull Market-Podcast 665

 

 

 

Podcast 537-Bob Davis Podcasts Radio Show-39

Podcast 537-Bob Davis Podcasts Radio Show-39. This week’s radio show contains 3 segments of new content for radio listeners and podcast subscribers. While the mission of the radio show is to bring content from the podcasts back to the radio, the political situation this week requires some additional thinking and reworking some of the ideas in Podcast 536. Podcast 537-Bob Davis Podcasts Radio Show-39 takes a look at what’s wrong with our political party system and makes some policy suggestions on the economy as thought starters for listeners and subscribers. These aren’t so much policy advocacy as a method to provoke thought and conversation around the idea that we have to do better. We have to hold our politicians and the political system to a higher standard, because we deserve better. As we progress to the final stages of the worst presidential election cycle in one hundred years the realization comes that no matter who takes the oath of office in January of 2017 the chances anything will change are remote. In fact, our national situation will either muddle along the same lines, or chaos will ensue. Your guess is as good as anyone else’s when it comes to which mainline candidate will produce muddle, or chaos. I’m not even sure which of both negative outcomes I would prefer, if such a thing is something you contemplate. Later in the show, questions about our national political themes. What happened to the America that was strong, not afraid to compete in the world, not afraid of the world, and ready to take risks to achieve. How did we become a nation of depressed, conspiracy theory mavens and people demanding someone ‘help’, ready to attack anyone for their view if it is contrary to their own? What happened to our money? What happened to our leadership? I believe what happened was too much government, expected to do too much, with mediocre ‘leaders’ who go along to get along, so they can keep their cushy jobs. We have to take it back. Taking it back means creating a new political movement in this country that pushes past the crust of the political party and primary systems, designed to keep the establishment in control. They tax us, divide us, scare us and control us, all to the purpose of making sure we’re good boys and girls. Remember, the people are the sovereign in this country, not Washington. Sponsored by X Government Cars and Ryan Plumbing and Heating of Saint Paul.