The following article by Judd Legum was posted on the popular.info website July 30, 2018:
Between now and November 6, you’ll hear a lot about the economy.
On Friday, Trump appeared outside the White House with his economic advisers to tout second quarter GDP growth, which came in at a robust 4.1%.
“We’ve accomplished an economic turnaround of historic proportions… Everywhere we look, we are seeing the effects of the American economic miracle,” Trump said.
The following article by Erica Werner and Kevin Sieff was posted on the Washington Post website July 18, 2018:
POPLAR BLUFF, Mo. — When a Mexican company bought Mid Continent Nail Corp. in 2012, workers at the factory here feared it was the beginning of the end. Their jobs, they suspected, would be given to lower-paid workers in Mexico, more casualties of the hollowing out of U.S. manufacturing driven in part by an embrace of global trade.
Instead, Mid Continent’s factory has doubled in size since Deacero’s purchase. The company, facing fewer restrictions on steel exports after the North American Free Trade Agreement, shipped steel into Missouri, willing to pay skilled workers more to take advantage of cheaper energy costs in the United States and a location that allowed swift delivery to U.S. customers.
But President Trump has put 25 percent tariffs on steel imports, bumping production costs and prompting Deacero to reconsider this arrangement. With Mid Continent charging more for nails, orders are down 70 percent from this time a year ago despite a booming construction industry. Company officials say that without relief, the Missouri plant could be out of business by Labor Day — or that remaining production could move to Mexico or another country.
The following article by Ryan Koronowski was posted on the ThinkProgress website June 29, 2018:
Larry Kudlow, the director of the National Economic Council, said that the deficit is “coming down rapidly” in a Friday morning appearance on Fox Business.
The problem for President Trump’s top economic adviser is that the deficit is actually rising. Continue reading “Trump’s top economics adviser lies about ‘rapidly’ falling budget deficit”
Heather Long authored the above article, which was posted on the Washington Post website February 14, 2018:
“The consumer price index, which measures how quickly prices are going up in the U.S. economy, rose at a faster than anticipated 2.1 percent in January, compared with a year ago, triggering fears of another rocky run on Wall Street. The Dow Jones industrial average fell more than 100 points at the open, but traders ultimately dismissed the news and the Dow closed up over 250 points.
Inflation around 2 percent is still very low, but Wall Street traders worry that this could be the beginning of a quick run up in wages and prices. There’s a big reassessment going on about what the future holds for the U.S. markets and economy.”
View the rest of the article here.
The following article by A.P. Joyce was posted on the mic.com website February 6, 2018:
Less than a week after President Donald Trump gave his State of the Union address touting the strength of the American economy under his presidency, the stock market saw one of its worst trading days in recent history, with stocks falling by about 1,175 points.
With the markets in turmoil and the fate of the U.S. economy under Trump looking more uncertain than ever, a new report has given lawmakers an easy guide on how to alleviate the economic pressure on 44 million Americans, while also lowering unemployment and growing the economy with one painfully simple policy. The answer: cancel all student debt. Continue reading “Want to grow the US economy? Cancel student debt, new report shows”
The following article by Heather Long was posted on the Washington Post website January 30, 2018:
The world’s elite are partying like it’s 2006, and that should probably scare us. Top business and political leaders, who met last week in the quaint ski chalet town of Davos, Switzerland, couldn’t stop talking about the booming global economy, record stock markets and President Trump’s tax cuts. They toasted the good times with bottles of bourbon that cost several thousand dollars each.
But there is something unnerving about all of this: 2006 was followed by 2008, the worst financial crisis of just about everyone’s lifetime. Some of the wisest minds at Davos said it feels eerily similar right now, and that’s not comforting. Continue reading “It ‘feels a bit like 2006’ for stocks and the economy. That should scare us.”
The following article by Froma Harrop was posted on the Creators website December 12, 2017:
A president deserves partial credit for a strong economy. The current economic numbers are good, so to the extent that gratitude is due, let us offer it. Thank you, President Obama.
The economic gauges have been improving steadily for the eight years of the current recovery. Barack Obama was president for seven of them. As the first year of the Donald Trump presidency draws to a close, the economy’s growth has continued — but it has not accelerated in a meaningful way.
In the world as presented by the tweetmaster himself, Trump has already delivered on the economy, and the only direction from here on is up, up, up. Savvy investors, however, are asking, “When do we get out?” Continue reading “Whom Do We Thank for Today’s Strong Economy?”
The following article by Don Lee was posted on the L.A. Times website February 3, 2017:
President Trump began his second week in office, he sat in the Roosevelt Room, a glass of Diet Coke at hand, and crowed before small business leaders that the stock market had gone up “massively” since his election.
But that very Monday morning U.S. financial markets were starting to change course in what some say might mark an end to the postelection stock rally, or at least a good pause. Continue reading “After initial optimism about the economy, some investors begin to worry about a ‘Trump slump’”
From Democracy Now:
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