Trump's legacy: Last year's American economy shrank the most since 1946

[colfax_m]

Trump's economy was on track to be the the best ever until China released the Covid-19 pandemic.

What does that even mean? The stock market is not the economy. No serious economist uses that as a proper surrogate for economic activity because, get this, it’s been prone to bubbles.

If it was the greatest economy, why couldn’t he even get GDP growth above 3%?

1. No one ever gets the GDP growth over 3%, duh. GDP is not necessarily the only metric for an economy.
2. The US stock market is the economic arbiter for economic power, startups, company growth, sales, cash flow, EBIDA, dividends, etc. A healthy stock market typically means a healthy economy. In 1929 the stock market crash stopped the economy cold. Recessions mean the economy is contracting. The Fed has a 2% target for inflation, and has been printing money. Everything is interrelated, so GDP isn't the only indicator for a good economy, there are many types of cycles.
3. A rising stock market means everyone's 401k's are rising, people keep investing, unemployment keeps going down, its a good thing.

Remember in 2016 how Republicans were criticizing Obama for never getting annual GDP growth above 3%?

I do. I guess you don’t.

A healthy stock market does not mean a healthy economy. Look no further than the many bubbles in the last 100 years. The stock market his record highs before the subprime mortgage crisis demonstrated that the economy was built on unsustainable debt. The economy was not good but people were so obsessed with their 401k to notice.

Only about half the country owns any stock. Stock market does not translate to employment. You know what does? GDP growth.

1. Yes I remember the painfully slow Obama "recovery" from "the great" recession. Terrible performance.
2. We're in a bubble now, the stock-market is "overbought", expect a correction sooner rather than later. The stock market is "self-correcting" as long as the SEC does its job to keep manipulation to a minimum. China Joe is doing his best to create a recession.
3. The graph below shows US GDP, not GDP growth. It almost doubled since Obama's first term. 1% for Trump is not the same as 1% for Obama.

View attachment 449698

The graph below shows US population growth, projected to be about 0.3%, not many new consumers to jack up GDP growth, or pay for entitlements.
View attachment 449700

Lots of rationalizations. Population growth can drive GDP growth but that hasn’t changed much since Obama. It was still “pathetic” for Obama to not get 3% annual GDP growth but “the best ever” with Trump.

But at least you admit the market is a bubble, which basically contradicts your point that the economy is the best ever because the stock market says so. Yes, it corrects, but that means it’s an unreliable indicator.

Your posts are a lot of rationalizations. The fact is the economy did okay under Obama. The economy did okay under Trump. Neither had the effect that their enemies and supporters claim.

 

[kyzr]

Trump's economy was on track to be the the best ever until China released the Covid-19 pandemic.

What does that even mean? The stock market is not the economy. No serious economist uses that as a proper surrogate for economic activity because, get this, it’s been prone to bubbles.

If it was the greatest economy, why couldn’t he even get GDP growth above 3%?

1. No one ever gets the GDP growth over 3%, duh. GDP is not necessarily the only metric for an economy.
2. The US stock market is the economic arbiter for economic power, startups, company growth, sales, cash flow, EBIDA, dividends, etc. A healthy stock market typically means a healthy economy. In 1929 the stock market crash stopped the economy cold. Recessions mean the economy is contracting. The Fed has a 2% target for inflation, and has been printing money. Everything is interrelated, so GDP isn't the only indicator for a good economy, there are many types of cycles.
3. A rising stock market means everyone's 401k's are rising, people keep investing, unemployment keeps going down, its a good thing.

Remember in 2016 how Republicans were criticizing Obama for never getting annual GDP growth above 3%?

I do. I guess you don’t.

A healthy stock market does not mean a healthy economy. Look no further than the many bubbles in the last 100 years. The stock market his record highs before the subprime mortgage crisis demonstrated that the economy was built on unsustainable debt. The economy was not good but people were so obsessed with their 401k to notice.

Only about half the country owns any stock. Stock market does not translate to employment. You know what does? GDP growth.

1. Yes I remember the painfully slow Obama "recovery" from "the great" recession. Terrible performance.
2. We're in a bubble now, the stock-market is "overbought", expect a correction sooner rather than later. The stock market is "self-correcting" as long as the SEC does its job to keep manipulation to a minimum. China Joe is doing his best to create a recession.
3. The graph below shows US GDP, not GDP growth. It almost doubled since Obama's first term. 1% for Trump is not the same as 1% for Obama.

View attachment 449698

The graph below shows US population growth, projected to be about 0.3%, not many new consumers to jack up GDP growth, or pay for entitlements.
View attachment 449700

Lots of rationalizations. Population growth can drive GDP growth but that hasn’t changed much since Obama. It was still “pathetic” for Obama to not get 3% annual GDP growth but “the best ever” with Trump.

But at least you admit the market is a bubble, which basically contradicts your point that the economy is the best ever because the stock market says so. Yes, it corrects, but that means it’s an unreliable indicator.

Your posts are a lot of rationalizations. The fact is the economy did okay under Obama. The economy did okay under Trump. Neither had the effect that their enemies and supporters claim.

Agreed. They both did okay.

 

[colfax_m]

Agreed. They both did okay.

Okay is a far cry from “best economy ever” you were saying earlier.

 

[Jim H - VA USA]

Donald Trump's atrocious handling of the pandemic, encouraging people not to wear masks, making the consequences worse, took its toll. What a bad President we had.

For 2020 as a whole, GDP decreased by 3.5% from the prior year. That was the worst decline since 1946.
It was the first time US GDP declined since 2009, when it fell 2.5% during the the financial crisis.

Last year's American economy shrank the most since 1946

The US economy grew at an annualized and seasonally adjusted rate of 4% in the fourth quarter of 2020, just as economists had predicted, the Commerce Department reported Thursday. But that didn't make up for a bad first quarter and an historically awful second quarter.

www.cnn.com

I could not find 2020 actuals, but here are estimates from September, so they should be pretty close...

So, I guess what you are saying is, that Trump did a better job than most other world leaders? No surprise there. Thanks!

 

[Eric Arthur Blair]

Trump is the worst president ever.

I guess that's why leftist plotters had to steal the election from him.

 

[Indeependent]

Donald Trump's atrocious handling of the pandemic, encouraging people not to wear masks, making the consequences worse, took its toll. What a bad President we had.

For 2020 as a whole, GDP decreased by 3.5% from the prior year. That was the worst decline since 1946.
It was the first time US GDP declined since 2009, when it fell 2.5% during the the financial crisis.

Last year's American economy shrank the most since 1946

The US economy grew at an annualized and seasonally adjusted rate of 4% in the fourth quarter of 2020, just as economists had predicted, the Commerce Department reported Thursday. But that didn't make up for a bad first quarter and an historically awful second quarter.

www.cnn.com

I presume you are including every world leader in this post.
Then again, you're mentally ill.
Welcome to Ignore.

 

[Synthaholic]

Trump's economy was on track to be the the best ever until China released the Covid-19 pandemic.

What does that even mean? The stock market is not the economy. No serious economist uses that as a proper surrogate for economic activity because, get this, it’s been prone to bubbles.

If it was the greatest economy, why couldn’t he even get GDP growth above 3%?

1. No one ever gets the GDP growth over 3%, duh. GDP is not necessarily the only metric for an economy.
2. The US stock market is the economic arbiter for economic power, startups, company growth, sales, cash flow, EBIDA, dividends, etc. A healthy stock market typically means a healthy economy. In 1929 the stock market crash stopped the economy cold. Recessions mean the economy is contracting. The Fed has a 2% target for inflation, and has been printing money. Everything is interrelated, so GDP isn't the only indicator for a good economy, there are many types of cycles.
3. A rising stock market means everyone's 401k's are rising, people keep investing, unemployment keeps going down, its a good thing.

You can't grow the economy through Socialism, which you Trumpers will never understand. Paying farmers to not sell their crops is Socialism, or Communism.

Trump has been a disaster for the U.S. economy from his first day in office when he shipped all those Carrier jobs to Mexico.

 

[Meathead]

Donald Trump's atrocious handling of the pandemic, encouraging people not to wear masks, making the consequences worse, took its toll. What a bad President we had.

For 2020 as a whole, GDP decreased by 3.5% from the prior year. That was the worst decline since 1946.
It was the first time US GDP declined since 2009, when it fell 2.5% during the the financial crisis.

Last year's American economy shrank the most since 1946

The US economy grew at an annualized and seasonally adjusted rate of 4% in the fourth quarter of 2020, just as economists had predicted, the Commerce Department reported Thursday. But that didn't make up for a bad first quarter and an historically awful second quarter.

www.cnn.com

CNN?

 

[jc456]

Trump is the worst president ever.

name a reason? was it that too many blacks were working?

 

[jc456]

Trump's economy was on track to be the the best ever until China released the Covid-19 pandemic.

What does that even mean? The stock market is not the economy. No serious economist uses that as a proper surrogate for economic activity because, get this, it’s been prone to bubbles.

If it was the greatest economy, why couldn’t he even get GDP growth above 3%?

1. No one ever gets the GDP growth over 3%, duh. GDP is not necessarily the only metric for an economy.
2. The US stock market is the economic arbiter for economic power, startups, company growth, sales, cash flow, EBIDA, dividends, etc. A healthy stock market typically means a healthy economy. In 1929 the stock market crash stopped the economy cold. Recessions mean the economy is contracting. The Fed has a 2% target for inflation, and has been printing money. Everything is interrelated, so GDP isn't the only indicator for a good economy, there are many types of cycles.
3. A rising stock market means everyone's 401k's are rising, people keep investing, unemployment keeps going down, its a good thing.

You can't grow the economy through Socialism, which you Trumpers will never understand. Paying farmers to not sell their crops is Socialism, or Communism.

Trump has been a disaster for the U.S. economy from his first day in office when he shipped all those Carrier jobs to Mexico.

you have no idea what socialism is then dear! proving you can't be helped.

 

[EvilCat Breath]

That would be the legacy of Democrat governors.

The legacy of democrat governors and democrat lockdowns. In a way it is Trump's fault. Had he declared himself the dictator they always said he was and ordered the arrests of democrats we would be in very good shape now.

 

[kyzr]

Agreed. They both did okay.

Okay is a far cry from “best economy ever” you were saying earlier.

The OP picked a date that was advantageous to making Trump's economy look bad after the pandemic hit.
I picked a date that made Trump's economy look good before the pandemic hit.
What is a truer metric of "Trump's economy" not Covid's economy? IMHO the 3% unemployment before Covid hit.

 

[jbrownson0831]

Donald Trump's atrocious handling of the pandemic, encouraging people not to wear masks, making the consequences worse, took its toll. What a bad President we had.

For 2020 as a whole, GDP decreased by 3.5% from the prior year. That was the worst decline since 1946.
It was the first time US GDP declined since 2009, when it fell 2.5% during the the financial crisis.

Last year's American economy shrank the most since 1946

The US economy grew at an annualized and seasonally adjusted rate of 4% in the fourth quarter of 2020, just as economists had predicted, the Commerce Department reported Thursday. But that didn't make up for a bad first quarter and an historically awful second quarter.

www.cnn.com

Actually it was you wacko dreg Dems and your refusal to go back to work

 

[jc456]

Agreed. They both did okay.

Okay is a far cry from “best economy ever” you were saying earlier.

The OP picked a date that was advantageous to making Trump's economy look bad after the pandemic hit.
I picked a date that made Trump's economy look good before the pandemic hit.
What is a truer metric of "Trump's economy" not Covid's economy? IMHO the 3% unemployment before Covid hit.

the mere fact that the demofks locked down all major businesses, it's amazing how profitable most of us sustained. Trump is a fking genius.

 

[kyzr]

Trump's economy was on track to be the the best ever until China released the Covid-19 pandemic.

What does that even mean? The stock market is not the economy. No serious economist uses that as a proper surrogate for economic activity because, get this, it’s been prone to bubbles.

If it was the greatest economy, why couldn’t he even get GDP growth above 3%?

1. No one ever gets the GDP growth over 3%, duh. GDP is not necessarily the only metric for an economy.
2. The US stock market is the economic arbiter for economic power, startups, company growth, sales, cash flow, EBIDA, dividends, etc. A healthy stock market typically means a healthy economy. In 1929 the stock market crash stopped the economy cold. Recessions mean the economy is contracting. The Fed has a 2% target for inflation, and has been printing money. Everything is interrelated, so GDP isn't the only indicator for a good economy, there are many types of cycles.
3. A rising stock market means everyone's 401k's are rising, people keep investing, unemployment keeps going down, its a good thing.

You can't grow the economy through Socialism, which you Trumpers will never understand. Paying farmers to not sell their crops is Socialism, or Communism.

Trump has been a disaster for the U.S. economy from his first day in office when he shipped all those Carrier jobs to Mexico.

We'll see if the Xiden admin can grow the US economy on a per capita basis as well as Trump.

United States (USA) GDP - Gross Domestic Product 2023

Gross Domestic Product of United States grew 2.5% in 2023 compared to last year. This rate is 6 -tenths of one percent higher than the figure of 1.9% published in 2022.

countryeconomy.com

 

[Synthaholic]

Trump's economy was on track to be the the best ever until China released the Covid-19 pandemic.

What does that even mean? The stock market is not the economy. No serious economist uses that as a proper surrogate for economic activity because, get this, it’s been prone to bubbles.

If it was the greatest economy, why couldn’t he even get GDP growth above 3%?

1. No one ever gets the GDP growth over 3%, duh. GDP is not necessarily the only metric for an economy.
2. The US stock market is the economic arbiter for economic power, startups, company growth, sales, cash flow, EBIDA, dividends, etc. A healthy stock market typically means a healthy economy. In 1929 the stock market crash stopped the economy cold. Recessions mean the economy is contracting. The Fed has a 2% target for inflation, and has been printing money. Everything is interrelated, so GDP isn't the only indicator for a good economy, there are many types of cycles.
3. A rising stock market means everyone's 401k's are rising, people keep investing, unemployment keeps going down, its a good thing.

You can't grow the economy through Socialism, which you Trumpers will never understand. Paying farmers to not sell their crops is Socialism, or Communism.

Trump has been a disaster for the U.S. economy from his first day in office when he shipped all those Carrier jobs to Mexico.

We'll see if the Xiden admin can grow the US economy on a per capita basis as well as Trump.

United States (USA) GDP - Gross Domestic Product 2023

Gross Domestic Product of United States grew 2.5% in 2023 compared to last year. This rate is 6 -tenths of one percent higher than the figure of 1.9% published in 2022.

countryeconomy.com

View attachment 449727

Trump rode Obama's coattails for as long as he could, then he shit the bed.

 

[kyzr]

Trump's economy was on track to be the the best ever until China released the Covid-19 pandemic.

What does that even mean? The stock market is not the economy. No serious economist uses that as a proper surrogate for economic activity because, get this, it’s been prone to bubbles.

If it was the greatest economy, why couldn’t he even get GDP growth above 3%?

1. No one ever gets the GDP growth over 3%, duh. GDP is not necessarily the only metric for an economy.
2. The US stock market is the economic arbiter for economic power, startups, company growth, sales, cash flow, EBIDA, dividends, etc. A healthy stock market typically means a healthy economy. In 1929 the stock market crash stopped the economy cold. Recessions mean the economy is contracting. The Fed has a 2% target for inflation, and has been printing money. Everything is interrelated, so GDP isn't the only indicator for a good economy, there are many types of cycles.
3. A rising stock market means everyone's 401k's are rising, people keep investing, unemployment keeps going down, its a good thing.

You can't grow the economy through Socialism, which you Trumpers will never understand. Paying farmers to not sell their crops is Socialism, or Communism.

Trump has been a disaster for the U.S. economy from his first day in office when he shipped all those Carrier jobs to Mexico.

We'll see if the Xiden admin can grow the US economy on a per capita basis as well as Trump.

United States (USA) GDP - Gross Domestic Product 2023

Gross Domestic Product of United States grew 2.5% in 2023 compared to last year. This rate is 6 -tenths of one percent higher than the figure of 1.9% published in 2022.

countryeconomy.com

View attachment 449727

Trump rode Obama's coattails for as long as he could, then he shit the bed.

Don't know how to read a graph?
Look at post #35 again, Obama's economy flatlined, Trump's economy took off. You're welcome.

 

[jc456]

Trump's economy was on track to be the the best ever until China released the Covid-19 pandemic.

What does that even mean? The stock market is not the economy. No serious economist uses that as a proper surrogate for economic activity because, get this, it’s been prone to bubbles.

If it was the greatest economy, why couldn’t he even get GDP growth above 3%?

1. No one ever gets the GDP growth over 3%, duh. GDP is not necessarily the only metric for an economy.
2. The US stock market is the economic arbiter for economic power, startups, company growth, sales, cash flow, EBIDA, dividends, etc. A healthy stock market typically means a healthy economy. In 1929 the stock market crash stopped the economy cold. Recessions mean the economy is contracting. The Fed has a 2% target for inflation, and has been printing money. Everything is interrelated, so GDP isn't the only indicator for a good economy, there are many types of cycles.
3. A rising stock market means everyone's 401k's are rising, people keep investing, unemployment keeps going down, its a good thing.

You can't grow the economy through Socialism, which you Trumpers will never understand. Paying farmers to not sell their crops is Socialism, or Communism.

Trump has been a disaster for the U.S. economy from his first day in office when he shipped all those Carrier jobs to Mexico.

We'll see if the Xiden admin can grow the US economy on a per capita basis as well as Trump.

United States (USA) GDP - Gross Domestic Product 2023

Gross Domestic Product of United States grew 2.5% in 2023 compared to last year. This rate is 6 -tenths of one percent higher than the figure of 1.9% published in 2022.

countryeconomy.com

View attachment 449727

Trump rode Obama's coattails for as long as he could, then he shit the bed.

can't help your ignorance. I get it. stop showing us all how stupid you really are.

 

[Jim H - VA USA]

Here are 2020 actuals from the OECD. Link is included in the screenshot.

Looks like the Trump Admin managed the economic impacts from COVID better than most other countries, despite the Left-Wing false narrative that America had one of the worst responses to the plandemic...

https://i.ibb.co/hdvPVBq/2020-GDP-by-country.jpg

Was this all part of China's plan when they released the virus and then tried to cover it up?

 

[ColonelAngus]

So Trump should have used the Fed to FORCE the states to stay open?

OP is fail