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

Podcast 529

First Night at EAA. Sunday nights are load in nights for exhibitors, fly-ins, and media at the EAA AirVenture Air Show at Osh Kosh, Wisconsin. I always celebrate with a regular podcast, live from just under the control tower as we start a new week, on the First Night at EAA. It’s late. Everyone is asleep, but I am getting in the last few thoughts on the coming show, and new developments in the political world this weekend. Having just come from the RNC at Cleveland and witnessing the divisions in the Republican party firsthand, it’s a little weird to see the same kinds of fissures developing with the democrats at Philadelphia with the specter of the democrat establishment killing the grassroots too. Throughout this hot and stormy Sunday I’ve been thinking about a recent email exchange with a Trump supporter that says so much about American politics today. A gentleman who normally sends me great jokes via email suddenly swerved into politics exhorting me and a few score others on his email list to ‘vote Trump’. Why? Because Trump is going to get rid of NAFTA and the TPP and bring all the jobs back to the United States. I decided to press him to find out exactly why he thinks what he thinks and why he would take the unusual step of pushing his friends to vote Trump. It took several emails to learn he just ‘feels’ Trump is the best guy, Trump is like Lincoln, Trump knows what to do and he’ll do it, and don’t make me explain this stuff, google it. Then he asks me what I think of the questions I asked him! That serves as a debate in the land of Trump. A place where everyone gets what he wants, when he wants it, because Trump said so. A place where one bright morning a box will arrive from China and everyone will open it up and find a note that reads, “Sorry about taking your job at the bucket factory way back in 1997 but we needed it. Here it is back, slightly used but we hope you’ll forgive us”. There it is people. Donald J. Trump is going to get Uncle Joe his job back at Bethlehem Steel so he and Martha can buy back the 1993 Buick Regal, which the GM plant in Flint will be making again thanks to old ‘I’ll make the trains run on time’ Trump. I realized, while ordering coffee at the concessions stand next to the beautiful B-25 out here on the airfield, that there are a lot of 50+ children out there. Thinking is just too hard. Researching facts takes too much time. Actually learning the contours of an issue is a job no one wants. Lots of final thoughts — for the time being — on the convention, the resignation of Debbie Wasserman Schultz as the DNC chair, and the impending Trump presidency. Or not. Thank God I can talk about airplanes for the next few days! Sponsored by Hydrus Performance.

Podcast 341

Road Trip Part 1. The first leg of the do or die trip to California, USA. Don’t you hate it when you get twenty miles from home and you can’t remember whether you closed the garage door? The Mobile Podcast Command Unit rolls, from Minnesota, through Iowa, on its way to Kansas City. Observations on systems, donations from listeners, gratitude, and the ever present news media. (In a recent blog I suggested that in the wake of the missing airliner hysteria, now every time a plane crashes we will be on tenterhooks until we find out ‘what happened’. This time, ‘something’ indeed did happen!) In any case it’s nice to actually wait until the so called ‘black box’ is discovered before you speculate on ‘what happened’. We live in a time filled with a lot of promise, and then people do stuff like this. But back to the road, where the fun is. But really? continuous coverage of Bowe Bergdahl’s indictment for desertion. Apparently no one is surprised. And one more thing; This labeling people on the political right as ‘populist’ when you don’t like them has to stop. It seems like these days, all the media does is name, categorize and rank things. This trip, straight down the middle of the United States should be interesting. From Dallas, we turn left on I-40, and head for Phoenix, in search of sun and warm air. Meanwhile, it’s hard to believe this old ambulance can tool down the road at 75 miles an hour. Find out if the first crisis – mileage – is really a crisis. (Thank God for the strong dollar and the oil bust!) Plus truck stops in Iowa, and rest stops in Missouri. Oh, yeah, and Des Moines. Sponsored by Autonomous Cad.