The Pardu

The Pardu
Watchful eyes and ears feed the brain, thus nourishing the brain cells.

Tuesday, August 1, 2017

The Daily GOP Ignominious: Trump Grabs Obama Economy and Wishes Himself Well






If you follow US politics, you know Rasmussen polling is polling loved by the Right. It is the model of conservative polls while employing methodology long ago abandoned by more neutral and credible pollsters.

Rasmussen poll results since Trump's inauguration, January 20, 2017:

Date


20-Jan-17

28-Jul-17
Approval Index

+2

-23
Strongly Approve

38%

25%
Strongly Disapprove

36%

48%
Total Approve

56%

41%
Total Disapprove


44%

59%

In 2016, Nate Silver's 538 Blog published an extensive review of national political polling. Rasmussen was posted as one of the top four Right leaning polls accompanied by:  ccAdvertising, Merriman River Group, and TCJ Research. 

Rasmussen is comfortably conservative. Today's poll results are stark and revealing.  Is the nation actually growing weary of the carnival barking liar it elected to the US Presidency? Are we awakening?


After a private swearing-in of his new White House chief of Staff, Trump sat for a photo op with former General Kelly.  After a few remarks about the greatest of Kelly and in response to a question Trump unleashed typical Trump lies and misrepresentations about the US economy (and how well things are under his leadership).  


The linked video (1:32 minutes) is your latest dose of what I call:  Fake it to make it, Trump.
Just over six months into the Trump administration, anyone who accepts Trump's over-the-top lying about the US economy and his presidential leadership is nothing shy of a PT Barnum-like sucker. 

U.S. News Report addressed Trump's morning bluster early this afternoon.
1:25 p.m.
President Donald Trump's tweet Monday about economic progress under his administration isn't completely accurate. 
Trump tweeted: "Highest Stock Market EVER, best economic numbers in years, unemployment lowest in 17 years, wages raising." 
In fact, economic growth averaged 2 percent in the first half of this year, which Trump promised to lift to 3 percent. The stock market first hit a record under President Barack Obama and has kept growing. The unemployment rate, too, started to decline on Obama's watch. And wage gains have been weak.
While remarks have merit, the informed American has to realize Trump's blustering is a form of celebrating the reality of a US economy non-collapse. It is impossible to overlook steady improvement in the US economy since the Obama Stimulus of 2010. An economic relief package approved by the GOP Congress at a level well shy of that requested economic bailout. The congress authorized an $845 billion stimulus of the $1.3 Trillion request.

Yet, as Trump and politics go, Trump's statements have a degree of merit. 


Trading Economics US Participation Rate

United States Labor Force Participation Rate
Talk a look at a Bloomberg Conference Board Chart Trumpbrandishedd via a Tweet last week.


Image result for conference board consumer confidence bloomberg

It seems to me, the chart certainly speaks to Trump'ss claims of jobs.  But, use of the chart is shortisighted as it more shows the fallacy of GOP Trickle-dwon supplsy side economics. Moreoever ii shows the almost immediate reversal of a failed US economy after enacting Obama's Stimulus of early 2009.

Of course, Trump doesn't spew such economy fallacy with others in mind beyond his base: people who will not even consider the chart back beyond Trump talking office.

Should we surmise Trump is either continuing to celebrate the Obama economy or should we assume he is celebrating he has served six months in office with no economic collapse?

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