Trumponomics vindicates TKC 1101

TKC 1101, you were right.   You have been consistently correct on the American economy.   I have enjoyed your anecdotal approach to the underlying economy, the bottom-up view that told us that President Trump was on the right track to put America back to work and make America great again.   The gang of smart people at BallDiamondBall are similarly vindicated.

You are going to enjoy this article, even though you have to go to National Review to read it.  Deroy Murdoch has a great article up, titled “Obama Didn’t Build That.”   D. Murdoch uses a few good illustrations to completely dismantle Obama’s efforts to take credit for the Trump economy.

Murdoch’s illustrations come from a White House press conference that was held on September 10.  Sarah H. Sanders hosted while Kevin Hassett spoke.   K. Hassett is the Chairman of the White House Council of Economic Advisers.   I will provide links in the comments.

The Trump economy rocks.

Naysayers

I had a good laugh listening to NPR’s “Marketplace” coverage of the stock market highs.   They tried to look past all those bright thick silver linings to find little patches of dark cloud that they could focus on.   Other NPR shows have been very similar for many months.   They try so earnestly to let us know that most of the news is bad if you just know where to look.   They have to look really hard, and they can generally find some metrics that are not much different than they were under Obamanomics.   I enjoy the transparency of their frustration.   But “Marketplace” had me howling as they explained that other markets are down while ours is up, tried to brush it off, and then admitted that they are perplexed that, considering the international trade war, global investors are betting on Trump and America.

Here is an excerpt from the Politico, who seem to be cheering for a “Blue Wave” in November:

Hassett denied his appearance was prompted by a Friday speech in which Obama said, “When you hear how great the economy’s doing right now, let’s just remember when this recovery started.” The current economic expansion began in mid-2009, six months into Obama’s first term.

Trump replied shortly afterward at an appearance in Fargo, N.D.: “He was trying to take credit for this incredible thing that’s happening. … It wasn’t him.”

The dispute goes to the heart of Trump’s arguments this fall. Facing ugly projections for a GOP rout, the president is trying to persuade voters to stick with Republicans by arguing they’ve delivered an economic turnaround. But many major gauges on economic growth and job growth were just as strong during parts of the Obama years, even without Trump‘s deregulation and deficit-boosting tax cuts.

“One of the hypotheses that’s been floating around,” Hassett said in the briefing, “is that the strong economy that we’re seeing is just a continuation of recent trends.” But “economic historians will 100 percent accept the fact that there was an inflection at the election of Donald Trump, and that a whole bunch of data items started heading north.”

 

TKC 1101

TKC 1101 has been bringing us an occasional cheery message from his experiences as a business consultant.   He anticipated the trend, spotted early signs, and has kept us posted with updates.   I really enjoy those posts.   Thank you for the encouragement.

My own experience is in a sector that lags the general economy.   The vibe has been positive for months, and it is beginning to show up in terms of real work.

Go, Trump, go !

MAGA

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6 thoughts on “Trumponomics vindicates TKC 1101”

  1. Deroy Murdoch’s article is here:

    https://www.nationalreview.com/2018/09/trump-administration-economic-progress-better-than-obama/

    The article from Politico:

    https://www.politico.com/story/2018/09/10/trump-obama-economy-775189

     

    If you want the details, here is the transcript of the press conference from Sept. 10:

    https://www.whitehouse.gov/briefings-statements/press-briefing-press-secretary-sarah-sanders-cea-chairman-kevin-hassett-091018/

     

    And here are the charts that are referenced in the press conference:

    https://www.whitehouse.gov/wp-content/uploads/2018/09/Press-Briefing-9.10.18-CEA_Final.pdf

     

     

    Here is one of many examples of a Leftist “fact check.”   I won’t bore you with others.

    https://www.pbs.org/newshour/economy/ap-fact-check-are-trump-policies-boosting-economy

     

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  2. I see that Victor Davis Hanson has a book coming out titled The Case for Trump.  Because it’s traditional publishing, you’ll have to wait until March, 2019 to read it.  From the blurb:

    Trump alone saw a political opportunity in defending the working people of America’s interior whom the coastal elite of both parties had come to scorn, Hanson argues. And Trump alone had the instincts and energy to pursue this opening to victory, dismantle a corrupt old order, and bring long-overdue policy changes at home and abroad. We could not survive a series of presidencies as volatile as Trump’s. But after decades of drift, America needs the outsider Trump to do what normal politicians would not and could not do—a fact that explains the furor directed at Trump by the political and media status quo.

    The sound you hear is heads exploding at National Review.  (Some naughty words in the video.)

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  3. The one problem of prediction is the constant fear that one is projecting desires and not forecasts.

    I remember assuming the US would be victorious in Vietnam because that is what the USA did…

    I remember after Apollo that the USA would continue to move outward into the solar system…

    My cynicism was well baked by then.

    Aside from Reagan winning the Cold War and then watching our elites completely screwing up the aftermath, my cynicism kept growing until, with Obama, I hit despair for my family , especially the grandchildren.

    I watched the financial markets become a parasite rather than an enabler of economic activity.

    I saw housing turned into a casino driven pyramid scheme. We rewarded people for flipping rather than creating value.

    I watched the credentialed yet lightly educated elites become a leadership caste. We valued Enron rather than Andrew Carnegie.

    I watched the dismantling of the best economic model the world had ever seen under the Bushes, the Clintons, the Bushes and then the Jarrett-Obamas, all at the behest of the Buffetts, Soros, Goldman Sachs and many more.

    Having watched it taken apart, you get the learn how the gears and springs really work.

    I will admit that any prediction I make is 41.6% hope, because I see a chance for the first time after a life of cynicism and disappointment.

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  4. Team Obama had great faith in the American economy.

    They thought that since America had survived astronomically high marginal tax rates back in the 1950s and had a robust growth economy then, that they could repeat the same.

    They ignored significant issues such as the advent of competition from all over the world.   They discounted the economy-killing effects of sixty years of increasing regulations and bureaucratic burdens.

    They blithely expected the American economy to rebound after 2008, even as they added new weights and anchors.   They talked a lot of smack about getting the economy started again, but they really didn’t believe they needed to do anything in order to see the American economy recover.

    Obama and Co. were surprised when the Obama Recovery never happened.

    Now they are trying to claim that the Trump economy is actually Obama’s recovery.   We must not let them get away with that spin.   It would be very harmful to the upcoming generation of Americans for them to accept the Leftist Democrat Media Complex version that says the Bush crash was so bad that it took ten years for Obama’s efforts to pay off.   That stupid stuff needs to be stopped in its tracks.

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