And more Liberal Craziness

[Strack_Cane]

Remember Obama saying

"those jobs aren't coming back"

"3% GDP is a thing of the past"

"Trumps policies will cause an economic collapse"?

Trump is undoing everything Obama did.

Now Obama says "this economic boom is because of his 8 years of destruction".

 

[lou97]

Remember Obama saying

"those jobs aren't coming back"

"3% GDP is a thing of the past"

"Trumps policies will cause an economic collapse"?

Trump is undoing everything Obama did.

Now Obama says "this economic boom is because of his 8 years of destruction".

Which specific jobs did he say aren't coming back?

As far as annual GDP growth it was 2.3% in 2017. Not sure where you are getting 3% from. Maybe you are talking quarterly GDP growth. In that case I doubt Obama said it was a thing of the past since quarterly GDP growth exceeded 3% multiple times during his presidency. In fact annual GDP growth was 2.9% in 2015 so it makes no sense with growth that close to 3% that Obama would make that statement about annual growth either.

 

[Strack_Cane]

Which specific jobs did he say aren't coming back?

As far as annual GDP growth it was 2.3% in 2017. Not sure where you are getting 3% from. Maybe you are talking quarterly GDP growth. In that case I doubt Obama said it was a thing of the past since quarterly GDP growth exceeded 3% multiple times during his presidency. In fact annual GDP growth was 2.9% in 2015 so it makes no sense with growth that close to 3% that Obama would make that statement about annual growth either.

He did not say specifically what manufacturing jobs were not coming back, he was referring to the ones that left the country during his administration.

He also said GDP over 3% was a thing of the past.

I would post the YouTube, but I do not know how. Sorry.

 

[Strack_Cane]

I didn’t write this, but this is sign of the times during Mr Obama’s reign of Tyranny.

http://www.latimes.com/business/hiltzik/la-fi-3percent-20170519-story.html

 

[lou97]

I didn’t write this, but this is sign of the times during Mr Obama’s reign of Tyranny.

http://www.latimes.com/business/hiltzik/la-fi-3percent-20170519-story.html

You do realize that 3% annual GDP growth hasn't happened right?

And if you don't know what specific jobs he was talking about how do you know they came back?

 

[Strack_Cane]

Pretty close...

US GDP Growth Revised Higher to 2.9% in Q4
The US economy expanded an annualized 2.9 percent on quarter in the last three months of 2017, higher than 2.5 percent in the second estimate and beating market expectations of 2.7 percent. Personal consumption expenditures and private inventory investment were revised up.
Published on 2018-03-28

I know it’s not horseshoes...but we are moving at a pretty good clip.

And on the manufacturing jobs quote...

https://www.cnbc.com/2018/04/06/man...in-march-continuing-comeback-under-trump.html

 

[lou97]

Pretty close...

US GDP Growth Revised Higher to 2.9% in Q4
The US economy expanded an annualized 2.9 percent on quarter in the last three months of 2017, higher than 2.5 percent in the second estimate and beating market expectations of 2.7 percent. Personal consumption expenditures and private inventory investment were revised up.
Published on 2018-03-28

I know it’s not horseshoes...but we are moving at a pretty good clip.

And on the manufacturing jobs quote...

https://www.cnbc.com/2018/04/06/man...in-march-continuing-comeback-under-trump.html

Annualized growth rate and annual growth rate are too different things. You are quoting the growth for a three month period which is an annualized number. It's not the annual growth rate. 2017 rate was 2.3%. We'll see where 2018 goes. If it keeps going at the same rate it'll be 2.9%.

As far as the jobs I misunderstood. I thought you meant jobs coming back from overseas. I do know that manufacturing jobs have increased. I also know that manufacturing represents only 8% of total jobs in America and it will continue to trend down in long-term even though there have been some increases recently. The bottom line is it's cheaper to produce goods overseas, which is why we are a service economy and will continue to be.

 

[Strack_Cane]

Annualized growth rate and annual growth rate are too different things. You are quoting the growth for a three month period which is an annualized number. It's not the annual growth rate. 2017 rate was 2.3%. We'll see where 2018 goes. If it keeps going at the same rate it'll be 2.9%.

As far as the jobs I misunderstood. I thought you meant jobs coming back from overseas. I do know that manufacturing jobs have increased. I also know that manufacturing represents only 8% of total jobs in America and it will continue to trend down in long-term even though there have been some increases recently. The bottom line is it's cheaper to produce goods overseas, which is why we are a service economy and will continue to be.

Ok. I made a mistake. But still doing much much better now than prior 8 years. Hard stop.

Why do we have to continue to be a service economy? Why put us in a box?

Why can’t manufacturing jobs continue to come back to the US. That is a good trend. Right?

 

[Cane919]

This link should help with the discussion.

https://www.cnbc.com/2018/06/14/tru...rue-as-americans-spend-tax-bill-proceeds.html

 

[Strack_Cane]

This link should help with the discussion.

https://www.cnbc.com/2018/06/14/tru...rue-as-americans-spend-tax-bill-proceeds.html

Thanks for the assist.

 

[lou97]

Ok. I made a mistake. But still doing much much better now than prior 8 years. Hard stop.

Why do we have to continue to be a service economy? Why put us in a box?

Why can’t manufacturing jobs continue to come back to the US. That is a good trend. Right?

Annual GDP growth in 2010 was 2.5%, 2012 was 2.2%, 2014 was 2.6%, 2015 was 2.9%. Of course there were also some years that weren't as good under obama. Trump's first year was 2.3% so nothing special considering how horrible you all say the economy was under Obama.

As far as being a service economy, why wouldn't you want it to continue? After all its the best economy ever right?

The basic answer to your question is it's cheaper to make good overseas. That's just a fact. That keeps prices lower for all of us. Goods produced in the US are more expensive for all of us.

The interesting thing is the fixation on manufacturing. We've been moving towards a service economy for decades as cheaper labor is attractive to manufacturing companies. So yeah it sucks that we lost manufacturing jobs. But I'd argue that the net result has been positive given the service jobs that have replaced the manufacturering jobs. Take a look.

https://www.google.com/amp/s/www.fo...ed-33-million-higher-paying-service-jobs/amp/

 

[lou97]

This link should help with the discussion.

https://www.cnbc.com/2018/06/14/tru...rue-as-americans-spend-tax-bill-proceeds.html

Certainly lots of good economic news in this. The question will be the long-term impact of his policies. For instance, will all these tariffs going back and forth eat up a lot of people's tax breaks? If it gets out of hand it could. Will the reduction in regulations lead to a consequence that those regulations were designed to prevent? We'll see. These are just a few questions. Short-term things are good. We'll see how it goes long-term.

 

[Cane919]

Yep, hard to really predict for us laymen but those that understand it are forecasting good things ahead. Let’s hone it continues and all of us reap the benefits of this administrations efforts.

Certainly lots of good economic news in this. The question will be the long-term impact of his policies. For instance, will all these tariffs going back and forth eat up a lot of people's tax breaks? If it gets out of hand it could. Will the reduction in regulations lead to a consequence that those regulations were designed to prevent? We'll see. These are just a few questions. Short-term things are good. We'll see how it goes long-term.