re: Why this is Trump’s economy?

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Day 1 of Trump being in office: the economy is weak; I’m going to make it stronger

Day 1 of Obama presidency: my advisors just explained to me what an “economy” is. My conclusion is that ours is weak, it’s Bush’s fault and we’re in a new normal so don’t expect me to do anything about it.

That difference in sentiment is why this will go down as the Trump economy, not a continuation of the Obama economy.

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Trump is an economic mastermind that can turn around an economy in just 1 day. No one else in the universe could have done it. Not even an alien robot.

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You don’t pay attention much do you?

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I was specifically responding to the bailout accusation. That was Bush admin

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I was specifically responding to the bailout accusation. That was Bush admin

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You're thinking of Bush's "Too Big to Fail" $780B bailout in 2008.

Obama did another $900B in 2009, and then QE1, QE2, and QE3 between 2009-2013. QE1 actually initiated in 2008, but didn't technically start until beginning of 2009.

Banks received gobs of QE, which saved them. They loaned tons out to companies that were about to go under (at rock-bottom interest rates), while at the same time used much of it to purchase bonds, stocks, and real estate in our markets. Giving many companies a double-boon of super cheap leverage and capital.

All in a coordinated effort with the Fed and Obama admin.


Now take a guess on who benefited the most from all this.

I've believed since the Bush Sr. administration that there's some gray area for at least a couple of years when judging the performance of the economy.

That started because I didn't see that Clinton had done anything special to get us out of the recession that started under Bush Sr, and I still don't think he did.

Regarding the situation in the last 10 years, I think Obama actually extended the pain of that deep recession by over-regulating, and by frightening those making corporate financial decisions. If you doubt that, remember the downturn in revenues for air carriers during his first term, following his diatribe about unnecessary business travel. The result was many businesses sitting on a pile of cash instead of hiring and otherwise investing.

I think Trump has done very well in his first 1 1/2 years, especially with tearing down regulatory BS, but the most important beneficial event for the U.S. economy was Obama leaving office.

Because Obama approached, sniffed and walked away. Trump approached, sniffed, growled and lifted his leg and left his mark all over it.

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That started because I didn't see that Clinton had done anything special to get us out of the recession that started under Bush Sr, and I still don't think he did. 

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During the campaign an irate Bush said the economy had 2 consecutive quarters of growth. The recession was short lived and the ipos of the 80s came to fruition. The best that Clinton did to help was lowering capital gains taxes but he did very little and it showed when the dot com bubble collapse.

Interesting enough many of Clinton's initiatives have given this country headaches and pain since leaving office. Giving the Chinese most favored nation status and getting them into the WTO, failed to take bin laden into custody, the community reinvestment act that led to the banking woes, getting the Ukrainians to surrender 5,000 nukes in exchange for guaranteeing their border integrity went up in smoke when Russians annexed Crimea which effectively neutered the US ability to negotiate nuclear disarmament.
We will have deal with those failures for many years to come.

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quote: Huh? $4.5T in Quantitative Easing and $900B in Stimulus. Where the hell do you think that money went? Why do you think the wealthiest 1% in this country gained more percentage of wealth from 2009-2016 than any other time in history? Did you know that Obama made the richest people more wealthy than anyone else ever has? And he did it faster than any time in our history?

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It's a fact! The 2008/2009 financial crisis was the beginnings of the largest wealth transfer in US history. Prudent/conservative savers were smashed with ZIRP and people who were tied to equities and the Big Banks crushed it!