Author Topic: Why is the US economy booming?  (Read 12989 times)

just Warren

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Why is the US economy booming?
« on: September 04, 2018, 06:18:44 PM »
What could it be?

Quote
If I were forced to pick one leading explanation for the boom, I would go with animal spirits. Exuberant business sentiment and the build-up of risky corporate debt seem indicative of good times that won’t last. Hopefully that guess will prove wrong.

Trump gets mentioned twice for his tax cuts but the writer doesn't give him much credit for the boom.

I guess Trump just got lucky to have the economy booming as he is president.

If only we could have given Obama a third term, he'd be the one enjoying the political fruits of the economic upturn. Sorry Mr. Obama, we failed you in not repealing the 22 Amendment and allowing for another term in office for you to be rightly credited with this new prosperity!

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TommyGunn

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Re: Why is the US economy booming?
« Reply #1 on: September 04, 2018, 07:42:26 PM »
It's because of Teddy Roosevelt!   [tinfoil]
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Ron

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Re: Why is the US economy booming?
« Reply #2 on: September 05, 2018, 08:09:32 AM »
Obama ran on hope and Trump gave a large part of the country hope.

Obama was a talker and Trump is a doer.

Obama wanted change, Trump ran on what works.

For the invisible things of him since the creation of the world are clearly seen, being perceived through the things that are made, even his everlasting power and divinity, that they may be without excuse. Because knowing God, they didn’t glorify him as God, and didn’t give thanks, but became vain in their reasoning, and their senseless heart was darkened. Professing themselves to be wise, they became fools.

HankB

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Re: Why is the US economy booming?
« Reply #3 on: September 05, 2018, 08:12:18 AM »
I've seen at least one talking head on TV giving Obama credit.  :rofl:
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K Frame

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Re: Why is the US economy booming?
« Reply #4 on: September 05, 2018, 09:10:51 AM »
I think it's booming primarily just to piss off the anti-Trump liberals who predicted economic catastrophe when Trump was elected.
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RoadKingLarry

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Re: Why is the US economy booming?
« Reply #5 on: September 05, 2018, 01:36:10 PM »
I've seen at least one talking head on TV giving Obama credit.  :rofl:

Juan (WTF?) Williams is one talking rectum that claims Obama's policies are the reason for the current booming economy.

Oc course in a round about way he is correct, The econmoy is booming because Obama's policies are going away.
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slingshot

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Re: Why is the US economy booming?
« Reply #6 on: September 05, 2018, 01:45:53 PM »
Obama was satisfied with a low growth rate and was outspoken about his success at jobs creation.  But what kind of jobs did he help create?  Liberals want more government control over our lives and Obama was one of them.  Trump wants less government influence or control over our lives.

To say that Obama's policies primed the pump so to speak for the double growth that is happening during the Trump administration is ridiculous.  The economy grew just enough to keep the tax base growing slightly and as a result more money for government spending.  The elimination of un-necessary environmental regulations combined with the reduced taxes has truly primed the economic pump and it took essentially a year to accomplish that.  There is no way that Obama would have supported these things.

I think a lot of priming the economic pump is rhetoric and part of the sales job that happens with politicians. There was a sense of growing optimism economically when Trump became President.   
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MechAg94

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Re: Why is the US economy booming?
« Reply #7 on: September 05, 2018, 04:49:06 PM »
When Obama was President, all the negatives were blamed on Bush (including in the 2nd term).  Now Obama wants to take credit for stuff.
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Scout26

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Re: Why is the US economy booming?
« Reply #8 on: September 05, 2018, 05:37:06 PM »
The economy really started to take off once the country got over it's three day drunk and hangover after the 2016 election.  Businesses, Job Creators, and Entrepreneurs, said "Trump!!! *expletive deleted*ck Yeah !!" knowing the .gov was about to get out of their way to produce.

And they've been on a tear ever since.  Which is why the D's are losing their damn minds because they thought for sure he would be impeached the day before he took the oath of office.
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Jim147

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Re: Why is the US economy booming?
« Reply #9 on: September 05, 2018, 07:03:28 PM »
I remember when the economy started to tank here. It was early November 2007.
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charby

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Re: Why is the US economy booming?
« Reply #10 on: September 05, 2018, 07:50:27 PM »
Paychecks need to start booming, imagine what a 10-15% pay increase would do to GDP.
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slingshot

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Re: Why is the US economy booming?
« Reply #11 on: September 05, 2018, 08:29:29 PM »
The immigration issue has to be dealt with.  I have always held that the influx of undocumented workers greatly impacted those that needed the most help;. that and a slow growth rate.  But at least it wasn't a recession.  With increased production and general economic activity comes an increased demand for jobs.  I get emails all the time asking for me resume.  I never respond.  But a general shortage of trained workers increases competition and ultimately increased wages.  Hopefully it will be that 10-15% number! 
It shall be as it was in the past... Not with dreams, but with strength and with courage... Shall a nation be molded to last. (The Plainsman, 1936)

Fly320s

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Re: Why is the US economy booming?
« Reply #12 on: September 05, 2018, 08:58:38 PM »
Yes, the economy is good, except for the gun industry.  Thanks, Obama (for 8 years of non-stop panic buying).   :-*

Now I need to replenish ammo, parts, and toys.
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Scout26

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Re: Why is the US economy booming?
« Reply #13 on: September 06, 2018, 12:01:59 AM »
Paychecks need to start booming, imagine what a 10-15% pay increase would do to GDP.

Wages are always a lagging indicator, and the fed is trying to tamp down inflation before it starts which is making it hard to increase wages.
Some days even my lucky rocketship underpants won't help.


Bring me my Broadsword and a clear understanding.
Get up to the roundhouse on the cliff-top standing.
Take women and children and bed them down.
Bless with a hard heart those that stand with me.
Bless the women and children who firm our hands.
Put our backs to the north wind.
Hold fast by the river.
Sweet memories to drive us on,
for the motherland.

French G.

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Re: Why is the US economy booming?
« Reply #14 on: September 06, 2018, 12:15:49 AM »
The poultry plants started bilingual radio ads the month of the election, still running. Never heard them before. Self deportation and slowing of new migrants. Decent paying jobs, just hard. I might consider a maintenance position if the signing bonus gets bigger.
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Pb

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Re: Why is the US economy booming?
« Reply #15 on: September 06, 2018, 09:19:44 AM »
-
« Last Edit: September 06, 2018, 10:50:35 AM by BTR »

bedlamite

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Re: Why is the US economy booming?
« Reply #16 on: September 06, 2018, 09:43:31 AM »
A plan is just a list of things that doesn't happen.
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charby

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Re: Why is the US economy booming?
« Reply #17 on: September 06, 2018, 09:50:51 PM »
Wages are always a lagging indicator, and the fed is trying to tamp down inflation before it starts which is making it hard to increase wages.

Since Jan this year, I've averaged only 4% growth on all my investments, I'm still trying to get back to their peak in mid January.
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MillCreek

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Re: Why is the US economy booming?
« Reply #18 on: September 06, 2018, 10:14:35 PM »
^^^My 403(b) is only up by that amount as well. And this is a 55/45 split between stocks and bonds in various index and other funds.
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charby

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Re: Why is the US economy booming?
« Reply #19 on: September 06, 2018, 10:27:16 PM »
^^^My 403(b) is only up by that amount as well. And this is a 55/45 split between stocks and bonds in various index and other funds.

So I'm not seeing any of this growth on my end, pay raise got eaten up in health increase and increase on my pension share.
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Unisaw

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Re: Why is the US economy booming?
« Reply #20 on: September 07, 2018, 12:43:14 AM »
I think a lot of the economic boom is due to the switch from an oppressive regulatory regime to one in which regulations are being rolled back at an impressive rate.
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Scout26

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Re: Why is the US economy booming?
« Reply #21 on: September 07, 2018, 01:29:57 AM »
So I'm not seeing any of this growth on my end, pay raise got eaten up in health increase and increase on my pension share.

You are paying less in taxes.  Depends on your income and tax rate, but you are probably taking home $2,000-$2,500 more this year then last year.  Even without a pay raise.

Blame the health increase on the failure to kill Obamacare.  Unshackling insurance companies from having to offer you things like pregnancy coverage, well baby care and other mandates that you probably don't need and allowing insurance companies to offer employers cafeteria plans for their employees where they can pick and chose the coverages the employees want, just like you do with your car insurance. 

And your pension share increased ??  Cry me a river, go talk to the 80% of Americans that aren't covered by a Pension.  That money is still yours, you'll get it back (with interest) when you retire.  The rest of us...not so much.  And I'm still limited to how much I can contribute to my IRA, and there's no matching or employer contribution for that.   ANd that money is still yours and you will get i
Some days even my lucky rocketship underpants won't help.


Bring me my Broadsword and a clear understanding.
Get up to the roundhouse on the cliff-top standing.
Take women and children and bed them down.
Bless with a hard heart those that stand with me.
Bless the women and children who firm our hands.
Put our backs to the north wind.
Hold fast by the river.
Sweet memories to drive us on,
for the motherland.

MechAg94

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Re: Why is the US economy booming?
« Reply #22 on: September 07, 2018, 09:07:55 AM »
I heard it pointed out this morning that the economy is so good, even Colin Kaepernick got a job.     =D
“It is much more important to kill bad bills than to pass good ones.”  ― Calvin Coolidge

charby

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Re: Why is the US economy booming?
« Reply #23 on: September 07, 2018, 09:16:25 AM »
You are paying less in taxes.  Depends on your income and tax rate, but you are probably taking home $2,000-$2,500 more this year then last year.  Even without a pay raise.

Blame the health increase on the failure to kill Obamacare.  Unshackling insurance companies from having to offer you things like pregnancy coverage, well baby care and other mandates that you probably don't need and allowing insurance companies to offer employers cafeteria plans for their employees where they can pick and chose the coverages the employees want, just like you do with your car insurance. 

And your pension share increased ??  Cry me a river, go talk to the 80% of Americans that aren't covered by a Pension.  That money is still yours, you'll get it back (with interest) when you retire.  The rest of us...not so much.  And I'm still limited to how much I can contribute to my IRA, and there's no matching or employer contribution for that.   ANd that money is still yours and you will get i

Why hasn't the GOP majority killed Obamacare? Perhaps because they are also all in bed with insurance lobbyists?

I took this job initially at lower pay then say a job with a agriculture insurance claims or as an agronomist at the elevator, due to cheaper health insurance and a pension. Now because the past and current governor of Iowa hates unions they are slowly stripping away the benefits that covered that difference in pay. That $2500 in tax savings? That will be gone with inflation of basic needs, food, fuel, clothing and utilities.

My pension isn't mine until I am vested for seven years, I'm just 3 years into it. The increase of my share into it to offset the losses from the 2007-2008 financial crisis. If I leave this job at 6 years 11 months 29 days, I lose out.
Iowa- 88% more livable that the rest of the US

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slingshot

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Re: Why is the US economy booming?
« Reply #24 on: September 07, 2018, 10:23:33 AM »
So I'm not seeing any of this growth on my end, pay raise got eaten up in health increase and increase on my pension share.
That has been the case last 10 years more or less.  Hopefully, that is changing.
It shall be as it was in the past... Not with dreams, but with strength and with courage... Shall a nation be molded to last. (The Plainsman, 1936)