Tuesday, January 09, 2018 8:27:08 PM
The Myth of the ‘Trump Miracle’
"In Tax Overhaul, Trump Tries to Defy the Economic Odds"
President Trump arrives in the Oval Office in November to deliver remarks about the job market.
The economy is doing great and the president wants credit. He hasn’t earned it.
Derek Thompson Dec 20, 2017 Business
It has been a tumultuous year for Donald Trump, brimming with legal scandals and high-profile White House departures. But the president should give thanks this holiday season, because he is the recipient of an extraordinary present—an economy gift-wrapped and tied with a big, beautiful bow.
After a terrible recession and a slow recuperation, America’s economy is in a record-setting mood these days. The Dow has set an all-time high 70 times in 2017—once every five days—while the unemployment rate has neared an all-century low. Manufacturing confidence is higher than ever, and confidence among home builders has matched an all-century high. A yuletide glow illuminates even some of the darkest of corners of the economy: After a rough year for traditional retailers, holiday sales are projected to hit their highest level in three years.
Is this happening because of President Trump? Yes, according to President Trump.
“The reason our stock market is so successful is because of me—I’ve always been great with money,” Trump told reporters in November. “Virtually no President has accomplished what we have accomplished in the first 9 months, and [the] economy [is] roaring,” he said on Twitter. “At least we can all agree the economy is better under President Trump,” White House spokesperson Sarah Huckabee Sanders said, while also crediting job growth to a “Trump miracle.”
Like so many miracles, this is revisionist history. Even if Trump’s first 100 days had produced a bevy of new legislation, it typically takes about a year for policy to affect national economic statistics. But Trump’s first 100 days produced no major legislation, despite effectively unwinding Obama-era regulations for labor, environmental, and consumer protections. Instead, Trump is treating the U.S. economy the way he might treat the licensing of a fully built hotel: He has slapped his surname on the facade and shifted around the interior decor. But the foundation, scaffolding, and architecture of the thing either preexisted his term or are beyond his control.
Links and more .. https://www.theatlantic.com/business/archive/2017/12/trump-miracle-economy-credit/548882/
The above article is from stashed December 20, 2017:, in ..
Broadcast Exclusive: Jill Stein Says Senate Request for Docs on Russia Probe is “New McCarthyism”
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=137487559
"In Tax Overhaul, Trump Tries to Defy the Economic Odds"
President Trump arrives in the Oval Office in November to deliver remarks about the job market.
The economy is doing great and the president wants credit. He hasn’t earned it.
Derek Thompson Dec 20, 2017 Business
It has been a tumultuous year for Donald Trump, brimming with legal scandals and high-profile White House departures. But the president should give thanks this holiday season, because he is the recipient of an extraordinary present—an economy gift-wrapped and tied with a big, beautiful bow.
After a terrible recession and a slow recuperation, America’s economy is in a record-setting mood these days. The Dow has set an all-time high 70 times in 2017—once every five days—while the unemployment rate has neared an all-century low. Manufacturing confidence is higher than ever, and confidence among home builders has matched an all-century high. A yuletide glow illuminates even some of the darkest of corners of the economy: After a rough year for traditional retailers, holiday sales are projected to hit their highest level in three years.
Is this happening because of President Trump? Yes, according to President Trump.
“The reason our stock market is so successful is because of me—I’ve always been great with money,” Trump told reporters in November. “Virtually no President has accomplished what we have accomplished in the first 9 months, and [the] economy [is] roaring,” he said on Twitter. “At least we can all agree the economy is better under President Trump,” White House spokesperson Sarah Huckabee Sanders said, while also crediting job growth to a “Trump miracle.”
Like so many miracles, this is revisionist history. Even if Trump’s first 100 days had produced a bevy of new legislation, it typically takes about a year for policy to affect national economic statistics. But Trump’s first 100 days produced no major legislation, despite effectively unwinding Obama-era regulations for labor, environmental, and consumer protections. Instead, Trump is treating the U.S. economy the way he might treat the licensing of a fully built hotel: He has slapped his surname on the facade and shifted around the interior decor. But the foundation, scaffolding, and architecture of the thing either preexisted his term or are beyond his control.
Links and more .. https://www.theatlantic.com/business/archive/2017/12/trump-miracle-economy-credit/548882/
The above article is from stashed December 20, 2017:, in ..
Broadcast Exclusive: Jill Stein Says Senate Request for Docs on Russia Probe is “New McCarthyism”
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=137487559
It was Plato who said, “He, O men, is the wisest, who like Socrates, knows that his wisdom is in truth worth nothing”
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