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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If You're Looking For Truth You're Getting Conned-Podcast 639

If You’re Looking For Truth You’re Getting Conned-Podcast 639

Coverage of former FBI director Comey testifying forces a political podcast. As a result, a velvet summer midnight in Western Virginia is the backdrop for  If You’re Looking For Truth You’re Getting Conned-Podcast 639.

People Actually Watch This Crap?

Out here the Internet is slow. With no movie packages we’re stuck with reality shows, local news and lots of commercials. I’ve seen a lot of drug commercials. I’m getting a lot of screen time on my ‘device’ because of the long commercial breaks. You know, the device get-off-my-lawn types complain about. Time to blow off some steam In If You’re Looking For Truth You’re Getting Conned-Podcast 639.

The Mighty Wurlitzer

Do I have to say it again? Everyone is selling a point of view. Like a thickener for soup. Depending on who owns or funds one of these partisan ‘news’ websites, it’s their point of view sold through shares on social media. And why not? If you agree with something, share it. Right? Truth is those shares aren’t aren’t news. Not ‘fake news’. Propaganda. In If You’re Looking For Truth You’re Getting Conned-Podcast 639.

Believe Whatever You Want But It’s Not The Truth

For example. the ‘biased mainstream media’ reported the FBI was investigating Trump, right? Are the Hillary Clinton emails and the Russia hack question one and the same? Does the now famous Bill Clinton and Loretta Lynch conversation in the tarmac have anything to do with the Trump administration? Are you sure? How do you know?

Join Us As We Con America!

When you can’t tell the difference between the good stuff and formaldehyde and rubbing alcohol you take your life in your hands. Or so the story went in the 1920’s. As a result, we don’t know the difference between snake oil and snake oil.  Most of all, readers don’t fact check. We don’t know who funds these outlets. Eyeballs don’t google the author. Clicks. Shares. Numbers reached. Get your propaganda on twitter and Facebook. A majority of Americans get their news from social media. Especially relevant is the fact that Americans are being conned as never before. In If You’re Looking For Truth You’re Getting Conned-Podcast 639.

The End Of Politics In The United States?

Seems like we live on opposite shores of an ocean of opinion. Due to storms raging shore to shore, driven by outside forces seemingly beyond our control. As much as this may seem true the antidote is talking to each other. Especially relevant is the question, when was the last time you had coffee with someone to talk about solutions? Do we have discussions anymore about what actually works? Seems like our conversations are all about whether ‘we think’ this is or that is true. Furthermore, we live under brands and act as if our brand is the best. Are Republicans going make an already dangerous government less powerful. Moreover, who pays for minimum incomes and free health insurance, and free education Democrats promise? Meanwhile, a ‘conservative’ president pushes to borrow another trillion dollar stimulus for roads and bridges we don’t need.

Getting Nothing Done

Any analysis of the day’s news I might do inevitably leads to the conclusion very little coverage sheds much light on anything. On the contrary, it is designed to convince us to support a person or point of view. The bottom line is, while republicans have large majorities at most states and the federal level, they’re not getting much done while Democrats move further left every day.

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If You’re Looking For Truth You’re Getting Conned-Podcast 639

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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.

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