Patterico's Pontifications

8/20/2019

Trump and the Economy: A Comparison

Filed under: Politics — DRJ @ 4:40 pm



[Headline from DRJ]

President Trump and Kellyanne Conway recently offered reassurances about the economy. First, President Trump weighed in on Sunday:

President Donald Trump dismissed concerns of recession on Sunday and offered an optimistic outlook for the economy after last week’s steep drop in the financial markets.

“I don’t think we’re having a recession,” Trump told reporters as he returned to Washington from his New Jersey golf club. “We’re doing tremendously well. Our consumers are rich. I gave a tremendous tax cut and they’re loaded up with money.”

Today, counselor Kellyanne Conway added her economic analysis:

The “fundamentals” of the U.S. economy are solid, the White House asserted, invoking an ill-fated political declaration of a decade ago amid mounting concern that a recession could imperil President Donald Trump’s reelection.

Exhibiting no such concern, senior adviser Kellyanne Conway declared to reporters on Monday, “The fact is, the fundamentals of our economy are very strong.”

Do you believe them?

Did you believe Trump when he said tariffs hurt China and his trade adviser when he said tariffs don’t hurt America? If so:

Trump acknowledges China polices may mean US economic pain.

— DRJ

26 Responses to “Trump and the Economy: A Comparison”

  1. I think Trump spends more on a single night out than the average consumer spends in a month (or possibly a year) and he has no idea how the average person lives. Also, I suspect that his “tremendous tax cut” is part of the reason Orange county elected a Democrat in 2018. He raised their taxes. (he didn’t do mine much good either).

    I don’t know much about the leading indicators of an upturn or downturn, but the people who do seem to be concerned.

    Nic (896fdf)

  2. Redundancy, safeguards, and the reorganization of resources and supply chains around untrustworthy and opportunistic foreign actors always involves some short-term pain. But the long-term benefits are far more profitable…as China itself discovered earlier in the century.

    This is not, of course, the message that the TARRIFFS BAD FREE TRADE AND OPEN BORDERS GOOD Chamber of Commerce, NeverTrumpers, and ‘owned lock, stock, and barrel by Wall Street, lawyers, and all ethnic grievance blocs’ Democrats are pushing.

    And most of them are naturally shameless China shills themselves, whether because they have interests in China like Amash and Scaramucci, or have deep sympathies with the BEAUTIFUL FULLY AUTOMATED LUXURY COMMUNIST FUTURE of which China is the only one that can propagandize effectively for.

    May their rotten portfolios and anti-human fantasies continue to be the first and most deserved casualties of this trade war.

    Co-prosperity Spheroid (38cd4d)

  3. Welcome Back?

    urbanleftbehind (fe9f57)

  4. I meant Welcome Back

    urbanleftbehind (fe9f57)

  5. Trump’s China stance is one thing I agree with him on. He could get more people on his side by acknowledging tariffs might mean pain and explaining why he thinks it’s important. It’s kinda his job, as the leader of the country, to do that. It would be way better than acting like he doesnt know what hes talking about, lying, or treating the voters like idiots. But getting tough on China isn’t a bad thing imo.

    JRH (52aed3)

  6. Thing is, President-for-life XI is in a better negotiating position than Trump, who may be outta here, esp if there is a recession. China can wait us out.

    JRH (52aed3)

  7. All the more people for Trump to address *all* of the American people and explain what he is doing. Not like a zombie, but like an actual mentally stable um person.

    JRH (52aed3)

  8. U.S. has half a million fewer jobs than believed after big government revision

    The labor market seemed to defy gravity last year, generating more than 200,000 jobs a month despite a historically low unemployment rate that made it harder for employers to find workers.

    Turns out job growth wasn’t as robust as it appeared.

    The Labor Department revised down total job gains from April 2018 to March 2019 by 501,000, the agency said Wednesday, the largest downward revision in a decade.

    Dave (1bb933)

  9. I saw that, too, Dave. I would like to know why it happened. Either most of the information they released are guesses or they deliberately fabricated information to please the Administration, so the data is useless.

    DRJ (15874d)

  10. I’m not sure there’s anything nefarious going on (if there were, why revise downward and draw attention to it?)

    The article says:

    The agency’s annual benchmark revision is based on state unemployment insurance records that reflect actual payrolls while its earlier estimates are derived from surveys. The preliminary figure could be revised further early next year.

    Dave (1bb933)

  11. Why can’t they base it on W-4s (new hire) being filed and W-2s (existing hire) no longer filed?

    Give up?

    Because that would give accurate numbers for employment that they cannot manipulate.

    nk (dbc370)

  12. Stop the presses! This just in:

    “The unemployment number, as you know, is totally fiction.”
    Donald Trump – December 16, 2016

    Dave (1bb933)

  13. After further review:

    “And when we got those great reports, I kept saying, you know, those numbers — whether it’s 4.2, 4.3 — I said, for a long time they don’t matter. But now I accept those numbers very proudly. I say they do matter. But we’re doing very well with the jobs and the jobs reports, and we’re doing very well with companies. We’re really moving along.”
    Donald Trump – July 19, 2017

    Dave (1bb933)

  14. This reminds me of the guy who altered the Inauguration photo to make it look like more people were there. He was trying to please his boss. Might a Labor Department manager feel the same way? Plus, Acosta was the Secretary of Labor. His handling of the Epstein case suggests to me that he could be pressured.

    DRJ (15874d)

  15. Trump imposed tariffs. Other countries imposed retaliatory tariffs. Trump had to bailout farmers. Now he wants to bailout Apple.

    https://reason.com/2019/08/21/the-trade-war-is-going-so-well-that-trump-might-bail-out-apple/

    Gawain's Ghost (b25cd1)

  16. Oh, for Pete’s sake.

    DRJ (15874d)

  17. He enjoys picking winners and losers with our money. Let him use his own. I am also tired of paying for so many vacations and golf outings for all Presidents. I go to home and work with no vacations. They can manage for 4 years.

    DRJ (15874d)

  18. You’re gonna gets what’s coming
    You’ve been asking for it three years running
    You’re gonna get what’s coming
    You’re gonna get what’s coming to you

    Colonel Haiku (2601c0)

  19. Is that a song?

    DRJ (15874d)

  20. Or a threat?

    DRJ (15874d)

  21. It’s two… two… two mints in one.

    a song and an observation.

    Colonel Haiku (2601c0)

  22. So it was directed at me. Interesting.

    DRJ (15874d)

  23. It’s the jailhouse mentality, which drives Trumkins, DRJ. “You can have Trump for your ‘boyfriend’ and he will ‘protect’ you from all those other guys, or take your chances with those other guys.”

    It makes sense for Trumpkins who are naturally punks and jailhouse “b!tches”. Since I am neither a punk nor a “b!tch”, I’ll take my chances with anybody but Trump.

    nk (dbc370)

  24. 22… no, it wasn’t. It just happened to follow your post.

    Colonel Haiku (2601c0)

  25. put Trump voters and Never together
    And see which one is smarter
    Some say Never but I say no
    The Dems work Never like a puppet show

    Ain’t me, it’s the Never that say
    That Trump is leading the people astray
    But I say no, it’s Trump voters today
    Are smarter than Never in every way

    That’s right
    Trump voters are smarter
    That’s right
    Trump voters are smarter

    Bill Kristol sat down and cried
    An old man passing asked him why
    He said I can’t write anything that’s true
    Old man said go and fvck yerself, too

    Ain’t me, it’s some people that say
    That Trump is leading the people astray
    But I say no, it’s Trump voters today
    Are smarter than Never in every way

    That’s right
    Trump voters are smarter
    That’s right
    Trump voters are smarter

    Colonel Haiku (2601c0)

  26. ‘Since I am neither a punk nor a “b!tch“ ‘

    LOL

    Colonel Haiku (2601c0)

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