December 20, 2019
The Trump Recovery
Timothy Birdnow
I was arguing with a liberal on Facebook, a person who claimed the economy is bad and only the rich are doing well. We've heard that before; it's the standard talking points used by the demo-left in this country when they can't complain about prosperity.
At an y rate, I pointed out a few facts to this fool.
1. Coal profits have begun rebounding (he used coal as one example of how we aren't doing well, despite the fact it was Barack Obama who destroyed the coal industry.) See here.
2.U.S. oil profits hit a five year high last year despite low prices at the pump, totaling $25 billion dollars. That translates into jobs and profits for pensions and mutual funds.
3.In spite of the trade war with China and a drop in agricultural exports, 2019 is expected to finish well above the previous year.
3. U.S. auto sales were up in 2019:
4.Disposable income rose steadily this year reaching an all time record high of 16702.70 USD Billion in November of 2019. That was up from 2017 I might add.
5. The Gross Domestic Product xpanded 2.1% in 2019. This is a bit of a slowdown in growth rates from a peak in July of 2018 of 3.2%. This is still higher than the 2% growth in January 2017 when Mr. Trump took office. Obama's average GDP growth was 2% during his entire eight years in office.
And while Obama was hindered by recovery from the recession (a recession much worse than necessary because of government intervention in the markets which swallowed up economic growth - and that was as much Bush's fault as Obamas) Mr. Trump has been forced to struggle with a trade war with China (and that is ultimately necessary, but painful up front).
In short, we have seen robust improvement over the Obama economy, and that was by design. It is the meaning of "sustainable" which is a euphamism for no economic growth, something desired by the Environmentalist lobby (the Gang Green, I call them).
And this was accomplished while being under relentless assault by "the resistance" - meaning not only did he receive no support for any of his policies by Democrats, but he has had to defend himself in a way never before endured by any president of the U.S., with only the possible exception of Abraham Lincoln.
Obama had considerable bipartisan support for much of his economic policies.
I was arguing with a liberal on Facebook, a person who claimed the economy is bad and only the rich are doing well. We've heard that before; it's the standard talking points used by the demo-left in this country when they can't complain about prosperity.
At an y rate, I pointed out a few facts to this fool.
1. Coal profits have begun rebounding (he used coal as one example of how we aren't doing well, despite the fact it was Barack Obama who destroyed the coal industry.) See here.
2.U.S. oil profits hit a five year high last year despite low prices at the pump, totaling $25 billion dollars. That translates into jobs and profits for pensions and mutual funds.
3.In spite of the trade war with China and a drop in agricultural exports, 2019 is expected to finish well above the previous year.
In inflation-adjusted 2019 dollars, net farm income is forecast to increase $7.0 billion (8.2 percent) from 2018
3. U.S. auto sales were up in 2019:
U.S. auto sales
increase 1.9% in November. U.S. new vehicle sales of 1413514 units for
the month of November represented a 1.9% increase from November.
4.Disposable income rose steadily this year reaching an all time record high of 16702.70 USD Billion in November of 2019. That was up from 2017 I might add.
5. The Gross Domestic Product xpanded 2.1% in 2019. This is a bit of a slowdown in growth rates from a peak in July of 2018 of 3.2%. This is still higher than the 2% growth in January 2017 when Mr. Trump took office. Obama's average GDP growth was 2% during his entire eight years in office.
And while Obama was hindered by recovery from the recession (a recession much worse than necessary because of government intervention in the markets which swallowed up economic growth - and that was as much Bush's fault as Obamas) Mr. Trump has been forced to struggle with a trade war with China (and that is ultimately necessary, but painful up front).
In short, we have seen robust improvement over the Obama economy, and that was by design. It is the meaning of "sustainable" which is a euphamism for no economic growth, something desired by the Environmentalist lobby (the Gang Green, I call them).
And this was accomplished while being under relentless assault by "the resistance" - meaning not only did he receive no support for any of his policies by Democrats, but he has had to defend himself in a way never before endured by any president of the U.S., with only the possible exception of Abraham Lincoln.
Obama had considerable bipartisan support for much of his economic policies.
Posted by: Timothy Birdnow at
11:54 AM
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1
Just more proof that liberals know nothing.
"He who knows not, and knows not that he knows not, shun him."
And there are lines in the book of Proverbs that indicate that taking time to teach him is wasted.
"He who knows not, and knows not that he knows not, shun him."
And there are lines in the book of Proverbs that indicate that taking time to teach him is wasted.
Posted by: Dana Mathewson at December 20, 2019 10:23 PM (LVmqo)
2
Indeed it is, Dana. I argue with such people not for their benefit but for the benefit of the casual reader, who may not know or who made need help crafting their arguments.
Posted by: Timothy Birdnow at December 21, 2019 06:27 AM (OIYAT)
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