After eight years of blaming America’s problems on George W. Bush, the press that got the election wrong is rolling out a new line — that President Obama is handing President-elect Donald Trump a booming economy.
That takes some brass.
The jobless rate is down to 4.6 percent, and the growth rate is up above 2 percent or even 3 percent, with housing prices getting back to pre-recession levels. Stocks are soaring. So the idea seems to be that Obama has solved the problem in the nick of time.
“Obama’s gift to Trump” is the headline on CNN. “Trump inherits healthy economy” is the way the Financial Times is headlining the yarn. Politico reckons that Trump is being handed an “Obama boom.”
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14 comments:
If the economy is so f***ing great, why are interest rates near zero? Anyone... anyone...?? The Fed has a target to keep GDP and inflation in certain ranges. Right now, the peddle is to the metal and the engine is still sputtering. That's why the market took off when Trump one: we finally hired the right mechanic to fix this economic engine.
Another example of CNN et.al. spreading 'fake-news'. If you say it enough, idiots start to believe it.
The economy stupid was Bill Clintons battle cry. The economy is still in the dumpster and it has been passed down from President to President. Lets us see what Trump can do with it.
The 'real' jobless rate is probably closer to 10 percent....
The only thing Obama is handing to Trump is a turd of an economy.
The economy is fantastic....if you're on food stamps and living in subsidized housing on the welfare tit it's never been better.
For those of us that actually work...? Not so much.
I am working and living in poverty. 2017 I have to drop the healthcare which jacked up to 12K a year. I thought it was just. Worthless me.
The global economy is completely controlled by a handful of powerful banking families.
Period.
Meaning: there is no economy. there are no markets. there is no price discovery. there is no investments, only gambling on what the .5% plan to do in the future.
LowBomba has suckled at the table of plenty for 8 long years and is about to walk off without paying the bill. Donald Trump is going to change our country for the better.
You thought "fake news" was a recent event.
It will not be so healthy, when the money printing stops and interest rates go up!
I spend time in three different states each year. The economy on the eastern shore is by far the worse. Housing prices have not recovered and not likely to, crime is rampant and the only jobs are basically service industry/min wage/tips. FL is the best. There are houses selling for $900k-1.2 million being torn down just for the building lot in my neighborhood. Not 1 or 2, I can think of 8-10 in the past 18 months within 3 blocks. One neighbor purchased the adjoining house, tore it down to put in a pool, poolhouse, basketball court and astroturf mini soccer field for his kids. Restaurants are full BMW is building a new dealership that takes up an entire block, Maserati just open a dealership last year. Shopping center that was at 55% vacancy 6 years ago is now at 100%. You can't judge the economy on what is occurring in the microcosm of the lower eastern shore.
The economy is not going so well.I am well traveled as well, 7:24 Many peaple formally employed by the government, move to Florida, the area that you speaking of is it retirees that are fueling the growth? Yes houses are getting repossessed on the shore , but not in bethany beach, Fenwick, rehobeth and so on, these are the wealthy not the average Joe. Peaple are working harder with longer hours to survive. Stop in some little no name town in the mid west and tell them how good the economy is , go north to the rust belt ,drop in with your good news, im shure you will be well received!
I see the troll from florida is still chiming in thinking his opinion has some meaning.
8:51
Thanks for providing me with a great place to live in the winter. I won't share with you my local business interests as I value your your continued support. You are the one that has failed to learn from the great republicans such as Reagan and the Bush families. I studied the tax loop holes that they utilized to avoid paying taxes and make money work for you rather than working for money. Here is a free lesson. Go to the library and get all the books by Robert Kiyosaki and read them.
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