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.

Sponsored by Organo Coffee. Change Your Coffee Change Your Life

Booming US Economy-Reality Check-Bob Davis Podcast 811

Trump Foreign Trade Fight-Free Trade-Protection-Bob Davis Podcast 737

President Trump slapped tax increases on goods imported to the US from Europe, China, Mexico and Canada. Our trading partners retaliated with their own tariffs. Now what? Find out in Trump Foreign Trade Fight-Free Trade-Protection-Bob Davis Podcast 737.

What Is A Tariff Anyway?

Finally someone has defined what a tariff is. Moreover you might be surprised to learn the history of trade legislation in the United States goes back to 1789.

These days we are awash in charges and counter charges in the media. Trade Wars and Rumors of Trade Wars. This kind of coverage doesn’t serve anyone.

1945 Looms Large In Trade Discussions

Most noteworthy is the impact of World War 2 and the advent of nuclear weapons in 1945. Since then, trade deals have been  considered central to keeping the peace and stabilizing the world.

Trade Has Been A Political Football since Hamilton

Trade has been regional and national issue in the United States in every political era. None other than Alexander Hamilton was an advocate of high taxes on imports going back to 1789.

Trump A Throw Back To The 1840’s?

Moreover tariffs were an issue in local and national politics in the US until the introduction of the Income Tax in 1913. Is President Trump a throw back to the 1840’s? Find out in Trump Foreign Trade Fight-Free Trade-Protection-Bob Davis Podcast 737.

NAFTA China Mercantilism Free Trade

We hear so much in the news about trade but few of us understand it. China. NAFTA. Mercantilism. Trade Protection. Free Trade. As citizens we need to make informed decisions about what is best for each of us individually and the country. With all the noise about trade it’s almost impossible for people to do that.

Especially Relevant Today As It Was Back In The Day

In conclusion with yet another new trade bill in the offing the question of whether the US should protect its markets or open them is as relevant today as it was in 1789.

Sponsored by Reliafund Payment Processors and Ryan Plumbing and Heating of Saint Paul

Trump Foreign Trade Fight-Free Trade-Protection-Bob Davis Podcast 737