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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Polar Vortex-Deep Freeze-Cabin Fever-Thoughts-Bob Davis Podcast 799

Polar Vortex-Deep Freeze-Cabin Fever-Thoughts-Bob Davis Podcast 799

Colder this weekend in Minneapolis and Chicago than Antarctica. Colder even than high noon on Mars! Spending a lot of time inside pondering the end of the government shutdown in Polar Vortex-Deep Freeze-Cabin Fever-Thoughts-Bob Davis Podcast 799.

Breaking News! Winter Is Cold!

These days theories about why winter is cold abound. An arctic polar vortex that has split in two. An impending flip in the magnetic polls? Consequently we spend a lot of time talking about the weather.

Trump Yields To Pelosi

First of all this weekend will go down in history as the moment when President Trump yielded to a newly elected congress controlled by the democratic party. At least for the next three weeks.

Air Traffic Controllers

A snafu at some of the nation’s largest airports, caused by air traffic controllers calling in sick brought the president to his knees. Finally a deal was made to reopen the thirty percent of the government that was ‘shut down’ which did not include funding for a ‘wall’ on the US Southern Border. Find out what’s next in Polar Vortex-Deep Freeze-Cabin Fever-Thoughts-Bob Davis Podcast 799.

Too Cold To Care

But the cold is the most noteworthy topic. How do you adjust to the cold? When it comes to getting out of the cold where do you go? Can’t bother to spend a lot of travel money to go someplace that is 60 degrees. People from the upper midwest, used to sub zero temperatures, have to go to the equator to get the cold out of their bones!

Freewheeling Talker

Moreover this freewheeling talker includes a lot of opinions about people yelling and screaming. Social Media. Cable News Channels. My view is we’re not getting anywhere because people are watching and listening to media that confirms their own biases. So getting to the bottom of what the situation is, or isn’t, can be difficult.

IS The Economy Booming?

A good example are assertions that the economy is ‘booming’ or that US consumers are already benefiting from ‘tax cuts‘. I’ll tell you whether this is true in Polar Vortex-Deep Freeze-Cabin Fever-Thoughts-Bob Davis Podcast 799.

In conclusion I would much rather comment on the social implications and facts rather than join the crowd predicting the future and telling you what to think,

It’s Way too cold for that!

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Polar Vortex-Deep Freeze-Cabin Fever-Thoughts-Bob Davis Podcast 799

Podcast: Play in new window | Download (Duration: 40:04 — 91.7MB) | Embed

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