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TexasTowelie

(112,300 posts)
Sat Aug 18, 2018, 05:15 AM Aug 2018

The Bad News About The "Good News" Economy

In between sending out furious tweets denouncing Robert Mueller, Black athletes and his own attorney general, Donald Trump took time out from his “working vacation” last week to make a bold prediction to 30 business executives meeting at his New Jersey golf club. Soon, he said, U.S. gross domestic product — which has been growing at an average annual rate of between 2 and 3 percent — will be “in the fives.”

The boast came more than a week after the U.S. Commerce Department estimated that the U.S. economy grew at an annual rate of 4.1 percent in the second quarter of this year from April through June. But GDP could “go much higher once we get new trade deals,” Trump said.

Trump’s rosy prediction also came on the heels of two consecutive monthly reports putting the unemployment rate at the lowest level since the early 2000s.

With the economy seemingly doing so well, how is it that Trump’s approval rating — locked in a tight band around 40 percent virtually since his inauguration — doesn’t seem to reflect this? Most presidents with the top-line economic numbers that Trump has touted — unemployment down, stock market up, economic growth picking up — would be banking majority support. Why not Trump?

Read more: https://socialistworker.org/2018/08/14/the-bad-news-about-the-good-news-economy

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KY_EnviroGuy

(14,492 posts)
2. A great many people see right through his bullshit.
Sat Aug 18, 2018, 06:34 AM
Aug 2018

It's become quite obvious to more people that tRump lies with almost every word he speaks. If not an outright lie, then it's a deception or insult. Most folks don't like or trust a chronic liar and that's a part of the low ratings. It creates an air of distrust.

That, and spite toward some of his policies such as separation and detention of children at the border........

PatSeg

(47,541 posts)
3. Also people can look around themselves
Sat Aug 18, 2018, 07:15 AM
Aug 2018

and see if their lives or the lives of friends and family are getting better. You can't tell people that they are better off economically if their bank account says otherwise or if their town's main business is moving to Mexico. The damage Trump is doing to our economy will undoubtedly rival the Great Depression, which will surely please Vladimir Putin.

KY_EnviroGuy

(14,492 posts)
6. True, and he's brought this upon himself.
Sat Aug 18, 2018, 09:24 AM
Aug 2018

All through the campaign, he pumped people full of BS that things were going to be so much better (the greatest/so much winning) and told them how bad everything was for them under PBO's administration (very bad/the worst) - thereby creating massive expectations for change. Some of the stuff he promised would almost require divine intervention. Obviously, it ain't happened.

Therefore, if our economy had just remained the same as 2016, many would feel let down by their hero. From what I've read, in the next 5 to 10 years after any tax cut effects disappear, inflation gets worse, the cost of borrowing increases, demands for increased productivity worsen and wages continue to stagnate, these folks are going to be extremely stressed and disappointed.

Yet, Republicans will still somehow try to blame Democrats......

PatSeg

(47,541 posts)
7. And I personally have noticed
Sat Aug 18, 2018, 10:53 AM
Aug 2018

that the cost of healthcare, particularly prescriptions drugs is going through the roof the past year or so. This is an economic issue that affects people of all walks of life and political persuasion.

Trump's political rallies were just a lot of superficial showmanship, often not even planned ahead of time. He didn't care what he said, as long as the crowd reacted. His lack of specifics about policy were breathtaking - everything was going to be "great" and so very, very easy. In between bragging about himself and his many accomplishments, he tossed about the most generic adjectives to describe healthcare, the economy, the military, taxes, government, etc. "Great, tremendous, fantastic, terrific, largest, best, toughest, smartest, winning..............believe me."

And people believed him based on force of personality alone and his personality leaves as much to be desired as his competence and intellect. At least Harold Hill in The Music Man had a convincing sales pitch, a decent vocabulary, and a pleasing appearance. Apparently today ugly, mean, and stupid are marketable commodities.

KY_EnviroGuy

(14,492 posts)
8. Trump often makes me think of George C. Scott in.....
Sat Aug 18, 2018, 12:11 PM
Aug 2018

The Flim-Flam Man (late 60s, great movie).

Quote from Wiki:
Mordecai C. Jones (Scott) – a self-styled "M.B.S., C.S., D.D. — Master of Back-Stabbing, Cork-Screwing and Dirty-Dealing!" – is a drifting confidence trickster who makes his living defrauding people in the southern United States.

-------
Trump adds the Republican time-test methods of Frank Luntz (emotional appeal) and a carnival barker (loud exaggerations), but with the authoritarian bent that all conservatives seem to need to exist. Much of his skill of exaggeration comes from his years of carefully crafted real estate and casino scams.

When will humanity every learn that a strong egotistical personality is to be suspected, not respected? Although I'm not optimistic, I hope our society has been sufficiently inoculated with resistance to any future con man like him. One thing's for certain - the Trump name will go down in infamy as the new icon for liars, shady dealers, and the perfect example of who we do NOT want working in our government.

........

PatSeg

(47,541 posts)
11. It seems our theatrical con men
Sat Aug 18, 2018, 12:52 PM
Aug 2018

were much more talented. I'd forgotten about the Flim-Flam man. Burt Lancaster in The Rain Main or Elmer Gantry come to mind as well. You could see how some people could get sucked in. I never understood how Trump got such a big audience on The Apprentice. He is god-awful on TV.

I am cautiously optimistic that we will survive, but I realize this can run in cycles and after a few decades, people begin to forget again and the same old shit comes to the surface again.

ooky

(8,926 posts)
9. Oh yes, Republicans will absolutely blame democrats.
Sat Aug 18, 2018, 12:33 PM
Aug 2018

They do it everytime. Case in point Republicans blaming Obama for being responsible for "doubling the national debt" with never a mention of the catalyst for most of his spending or how he was bringing deficits back down. We're looking at the same thing all over again with Trump. He inherits an improving economy, enacts policies that will tank it again, and then a Democrat president will be left to clean it up and will be blamed for it by dirty, greedy, lying Republicans.

History repeats itself. You can see this coming, years away.

bucolic_frolic

(43,224 posts)
4. Because Trump Growth is really just speeding up the assembly line while workers get less of the pie
Sat Aug 18, 2018, 07:41 AM
Aug 2018

Increasing exploitation, in other words.

 

Perseus

(4,341 posts)
5. When will the media start pointing to a fact, that this is not trump's economy?
Sat Aug 18, 2018, 08:05 AM
Aug 2018

THIS is what Obama left, the good economy has nothing to do with this administration, they have done nothing to improve it, on the contrary, all the few decisions they have made, such as the tariff war, the tax cuts, its all going to reverse all the good accomplishments Obama made in his eight years.

People do not seem to understand that the economy does not change dramatically from one week to the next, for the pain to be felt there has to be some time, unless of course there is a war and factories start closing, spending dramatically stops.

If nothing positive happens in November, such as getting rid of republicans and making trump a lame duck, I give the economy a year, maybe two, then people will see the effects of a crooked administration, although I have no hope those who support this maniac will ever see it.

ooky

(8,926 posts)
10. Unfortunately, even if we take back one or both chambers of Congress, I fear
Sat Aug 18, 2018, 12:48 PM
Aug 2018

that the policies he has already enacted are going to do a lot of damage to the economy in time to become the big 2020 election issue, since Trump will still be in office and able to veto our legislative objectives. And of course Republicans will blame it on the Democrats majority instead of Trump's shit policies.

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