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The US has added $50 trillion to total national wealth since 2008
Hardly an economy that is suffering
Those facts don't line up with the right wing rhetoric that we are collapsing. I've had that same conversation with right wingers, and their response was that isn't what they see on their TV so your numbers must be fake.
We're not collapsing...we're treading water and that's all we've done for the past eight years!
Wrong.
Barack Obama will be the first President in American history to have 8 years of economic growth below 2%...he's averaging 1.5% growth. It's the very definition of treading water. So show me why I'm "wrong"!
The US has added $50 trillion to total national wealth since 2008
Hardly an economy that is suffering
The US has added $50 trillion to total national wealth since 2008
Hardly an economy that is suffering
How much of that wealth ended up in the hands of the Middle Class or the poor? It's amazing how you liberals can rant about income inequality but then turn around and brag about how much wealth you've "added" to the richest in America as if THAT is indicative of a strong economy! The majority of that 50 trillion is made up of stock market gains that the average American has not gotten a piece of!
zero percent interest rates for 7 years and $3 Trillion in QE is new and experimental
Who is enforcing the mathematics inlaid with those numbers, so that every American would have to need, and be fulfilled, in the understanding of your suggestion?
The federal reserve is driving the bus here, we are in an unprecedented era of monetary policy, that should color every notion of how well we are or not doing. Fiscal policy likewise to some degree.
For example if Obama spent $1T in deficit stimulus, the fed monetized it, and GDP grew by $0.5T then I would call that sort of desperate. Others just look at the $0.5T GDP gain and proclaim success. Not saying it isn't possible to make it out of all this ok, I am saying that this is not normal by historical standards and kind of unsettling.
You keep bringing up the Fed as part of your argument that the economy is "in the tank," but the nature of your remarks suggest you are either not macroeconomically/Fed savvy or not current on the state of the economy.
Why? Because it's almost certain that the Fed will raise interest rates this year, perhaps even in September. That's something the Fed has refrained from doing almost entirely in anticipation of clear and broad reaching indications that the economy is doing well. "If there were something that might persuade the [Fed] to boost rates, it would likely be some sign that the economy was doing better than anticipated, significantly better."
- Federal Reserve Could Hike Interest Rates in September
- 16-Aug-2016 -- NY Fed President Dudley:
- "[T]he labor market is getting tighter and we’re starting to see signs of wage gains starting to accelerate, so I think we’re getting closer to that point in time when it will be appropriate to actually raise short-term rates again.”
- "[T]he question is whether there is enough economic growth to put pressure on resources that pushes up wages and, ultimately, inflation. 'So far we seem to be on that trajectory and we’ll have to see how it plays out in coming months.'”
- Federal Reserve 'close to meeting targets' for US economy - BBC News
- 21-Aug-2016 -- Fed Vice Chairman Stanley Fischer
- In a speech in Colorado, the Fed's number two policymaker was upbeat about the economy's recovery and prospects. "We are close to our targets," he said on Sunday, adding that jobs growth had been "remarkably resilient".
- "Mr Fischer said this year's pace of jobs growth, although slower than in 2015, was "more than enough" for the labour market to continue to improve."
- "In recent years, he said, the US economy had had to confront the Greek debt crisis, a rise in the strength of the dollar, and sporadic financial turbulence."
"Yet, even amid these shocks, the labour market continued to improve: employment has continued to increase, and the unemployment rate is currently close to most estimates of the natural rate. I believe it is a remarkable, and perhaps under-appreciated, achievement that the economy has returned to near-full employment in a relatively short time after the great recession, given the historical experience following a financial crisis."- Janet Yellen: Fed rate hike odds have 'strengthened'
- "But the job market bounced back in June and July, adding over a half million jobs in the that period. Yellen highlighted the job market's improvement and "solid growth" in consumer spending. Experts agree."
- "The consumer is actually doing pretty good and there are elements of the labor market doing better," says Phil Orlando, senior portfolio manager at Federated Investors in New York."
- 26-Aug-2016 -- Fed Chairwoman Janet Yellen:
- "I believe the case for an increase in the federal funds rate has strengthened in recent months."
- "While economic growth has not been rapid, it has been sufficient to generate further improvement in the labor market."
I said we are in a new monetary era, I did not say we are 'in the tank'. The fed has kept the ship afloat, the question is if this is a sustainable path. Clearly I think the answer is no as the fed itself keeps talking about escape velocity which never seems to happen. It could be now, but this is a historically long time for a recovery. Yellen has now changed her tune to QE and is trying to prepare congress to accept a permanent large balance on the fed ledger.
I know all about the interest rate increases, it changes nothing, we should have had many by now instead of one. I know all about the labor market, it is doing well but wages have been not so hot.
Asset prices (stocks, housing, etc.) seem to be inflating much faster than inflation or wages. The fed fears we might be creating a third bubble in 20 years, however they are starting to think that bubbles are the new economy as well. Bubbles are nice on the way up, we all loved the late 90s.
The trillion dollar question is when another recession hits, then what? the fed today has a pretty empty barrel so about the only thing left is helicopter money which is an even more dangerous experiment.
you really need links to plots that are easily looked up? I would have thought you were more savvy than that and probably were already aware, I will post later.
We've followed an extremely dangerous Fed policy (keeping interest rates at near zero for nearly eight years now) in an effort to prop up a nervous stock market. It's dangerous because we've now created a stock market bubble that will eventually burst and almost certainly cause a recession and you are 100% correct in your observation that the Fed's "quiver" of responses is basically empty!
The US has added $50 trillion to total national wealth since 2008
Hardly an economy that is suffering
How much of that wealth ended up in the hands of the Middle Class or the poor? It's amazing how you liberals can rant about income inequality but then turn around and brag about how much wealth you've "added" to the richest in America as if THAT is indicative of a strong economy! The majority of that 50 trillion is made up of stock market gains that the average American has not gotten a piece of!
I saw a sign advertising a class on how to flip homes, oh oh
How much of that "wealth" was just printed up by the Fed?The US has added $50 trillion to total national wealth since 2008
Hardly an economy that is suffering
How much of that "wealth" was just printed up by the Fed?The US has added $50 trillion to total national wealth since 2008
Hardly an economy that is suffering
Never heard of quantitative easing, have ya?How much of that "wealth" was just printed up by the Fed?The US has added $50 trillion to total national wealth since 2008
Hardly an economy that is suffering
Seems very little since the value of the dollar remains strong and inflation has been very low
The US has added $50 trillion to total national wealth since 2008
Hardly an economy that is suffering
How much of that wealth ended up in the hands of the Middle Class or the poor? It's amazing how you liberals can rant about income inequality but then turn around and brag about how much wealth you've "added" to the richest in America as if THAT is indicative of a strong economy! The majority of that 50 trillion is made up of stock market gains that the average American has not gotten a piece of!
Pumping up the stock market affects over half of americans. The teachers union pension funds for instance invest in the stock market, we need a good stock market. The fed pumped it up allright, I just hope it lasts a while.
Never heard of quantitative easing, have ya?How much of that "wealth" was just printed up by the Fed?The US has added $50 trillion to total national wealth since 2008
Hardly an economy that is suffering
Seems very little since the value of the dollar remains strong and inflation has been very low
Or reflected in, among other things, grossly overvalued securities markets.Again, we are talking about $50 trillion
If that $50 trillion is made up of "funny money" it would be reflected in a devalued dollar and runaway inflation
Brexit vote, anyone?Here's my question for you NCC...do you think anyone out there feels confident with the stock market? Because I don't see it. I think people realize it's a bubble and they know from experience that bubbles burst and this one's no different. I agree with you that we need a healthy stock market but I think you'll agree with me that the market really ISN'T that healthy when even a whisper from the Fed saying they're thinking of raising interest rates makes it nosedive.
Those facts don't line up with the right wing rhetoric that we are collapsing. I've had that same conversation with right wingers, and their response was that isn't what they see on their TV so your numbers must be fake.
We're not collapsing...we're treading water and that's all we've done for the past eight years!
Wrong.
Barack Obama will be the first President in American history to have 8 years of economic growth below 2%...he's averaging 1.5% growth. It's the very definition of treading water. So show me why I'm "wrong"!
Those facts don't line up with the right wing rhetoric that we are collapsing. I've had that same conversation with right wingers, and their response was that isn't what they see on their TV so your numbers must be fake.
We're not collapsing...we're treading water and that's all we've done for the past eight years!
Wrong.
Barack Obama will be the first President in American history to have 8 years of economic growth below 2%...he's averaging 1.5% growth. It's the very definition of treading water. So show me why I'm "wrong"!
We are slowly, but steadily recovering from losses of 800,000 jobs per month. I'm sorry if he wasn't able to clean up the right wing mess fast enough to suit you.
You mean the Clinton Foundation and Gates Foundation."CDZ What facts have we about the state of the U.S. economy today?"
Who cares about facts, stats?
"Let's make America great again" ... is probably referring to South America, but Trump suckers don't realize that.
Those facts don't line up with the right wing rhetoric that we are collapsing. I've had that same conversation with right wingers, and their response was that isn't what they see on their TV so your numbers must be fake.
We're not collapsing...we're treading water and that's all we've done for the past eight years!
Wrong.
Barack Obama will be the first President in American history to have 8 years of economic growth below 2%...he's averaging 1.5% growth. It's the very definition of treading water. So show me why I'm "wrong"!
We are slowly, but steadily recovering from losses of 800,000 jobs per month. I'm sorry if he wasn't able to clean up the right wing mess fast enough to suit you.
You know what, Bulldog? You could have made that argument six years ago and had a point! Coming up on the 8 year mark of the Obama Presidency that claim has become laughable. Tell me what Barack Obama's been doing the last two years to grow the economy? I challenge you to even tell me who his economic advisors are right now! You know why NOBODY knows who they are without Googling them...because Obama hasn't proposed something that would grow the economy since Larry Summers left years ago. He's absolutely clueless when it comes to economics and doesn't even TRY at this point!
