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.

Sponsored by Organo Coffee. Change Your Coffee Change Your Life

Booming US Economy-Reality Check-Bob Davis Podcast 811

Podcast: Play in new window | Download (Duration: 31:46 — 72.7MB) | Embed

Subscribe: Apple Podcasts | RSS

Podcast 613-Rising Tide? Trump's Minimal Economic Impact

Podcast 613-Rising Tide? Trump’s Minimal Economic Impact

We’re Growing Again Right?

Trump ballyhoos new numbers. Seems like the new president is turning our economy around. A rising tide? What does an improving economy look like? Are there actions that cause real economic growth? Do you think new leaders are taking those actions?

Republicans Know How To Fix The Economy Right?

Deregulation. Tax cuts and reform. Infrastructure construction. Campaign Pledges were made. Pledges spurred optimism. Furthermore promises can be kept because republicans are in charge and republicans understand business. So the story goes.

Trump Has Already Started Making Things Better Right?

Trump claims credit for the new numbers. Can a new president have an economic impact after less than 90 days?

What’s Better?

How do you define economic success for the United States? Better job? More money? Saving a job? Getting a loan for business or housing? Seeing your 401K account fatten because of stock performance? Cheaper gas? GDP? Productivity? Improved employment? Interest Rates? Jobs coming back to America? Consequently how do you know when it’s working?

What Has Been Done?

Because of the new numbers coverage exploded. However, what have Trump and the new Congress actually done? Executive orders on regulation. Business and the environment. Pipelines. Budget cuts. Trade and the budget. In conclusion, is there an impact on the economy overall?

How Do You Know?

Who are the people that put these reports together and what methodology do they use? How do economists and traders judge these numbers? Seems like people accept them at face value. Should you place confidence in these reports?

What Actually Works?

Are there specific actions that can be taken to grow our economy? If business and economic philosophy is important, what do our leaders believe? Do you think there is a standard approach to economics and government in Washington? More importantly, we know ideas counter to the current approach exist. Will the new congress and president embrace them?

Back To The ’50’s

Let’s face it. We have a sclerotic, 1950’s style government. People are developing and using new technological tools developed for the 21st Century. Moving fast toward building a new world. Block Chain Currencies. Improved Communication tools. Robotic manufacturing. Higher productivity. Government might be out of step with those developments.

Sponsored by Ryan Plumbing and Heating of Saint Paul.

Podcast: Play in new window | Download (Duration: 37:30 — 85.8MB) | Embed

Subscribe: Apple Podcasts | RSS

 

Podcast 446

Media Manipulation. Checking out the news cycle before and after the debates, and in the last few weeks it sure feels like we’re being manipulated. You can’t say anything about anyone these days without a stream of tweets and posts about what’s politically correct, or charges that ‘you’re in the tank’ for this or that candidate. New story lines about Donald Trump are actually laughable. After his comments on the San Bernardino Terror Attack (not the San Bernardino shooting, as Hillary Clinton likes to characterize a terror attack) Trump was a racist, a fascist and a demagogue. Now that a new poll has been released showing Trump breaking through forty percent, with his closest challengers as much as twenty points behind, the story line is its the fading middle class, or dumb white high school only ‘blue collar’ workers who support him. Or, that Ted Cruz is suddenly ‘the nominee’ because he beat Trump by one point in a poll in Iowa. Because people in Iowa don’t know that they’re being surveyed, interviewed and chronicled to death as they ‘pick the next president’. Meanwhile not a vote has been cast. Kudos to the Cruz campaign for working hard in Iowa but let’s not forget Iowa (which is somewhere down there between New York and Los Angeles, for those of you in the media) Republicans voted for Mike Huckabee in 2008 and Rick Santorum in 2012 and gave Michele Bachmann a big boost in the Straw Poll in 2012. Were any of those people the Republican nominee, or even president? At the same time, almost no ink has been devoted to Hillary Clinton’s compulsive lying or Bernie Sanders’ fairy tales about how to fix the economy, or solve all of America’s social problems with another government program. While the pundits and commentariat blabs on and on trying to predict the future, manufacturing is in a recession, government and corporate debt are at record levels, companies are merging to pump up their fourth quarter earnings, Chinese officials admit making up economic numbers, commodities are depressed  and the Fed is about to raise interest rates. Iran has pulled its troops out of Syria because they’re getting their ass kicked by ISIS, which by the way is expanding into Afghanistan where they will get an assist, no doubt, from the guy we had locked up in Gitmo, but let go to get a deserter back. Don’t worry about that right now though, Anderson Cooper is on talking about Carly Fiorina’s dress, Donald’s smack down of Jeb! and the Cruz Rubio rivalry. Hey did the Wild win? Maybe we’re better off with astrologers. As long as its Vedic astrology, right? Sponsored by Pride of Homes and Luke Team Real Estate and Hydrus Performance. 

Podcast: Play in new window | Download (Duration: 43:30 — ) | Embed

Subscribe: Apple Podcasts | RSS