The Pardu

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

Thursday, December 6, 2018

As Trump's World Turns: An Economy Teetering On The Brink





...of repeating economic history and the death of the Obama Economy

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Two months ago Donald Trump posted a tweet which seemed to have been crafted by the likes of Steve Miller or one of his White House economic advisers. The tweet stated numbers related to the US economy and a claim of a 100 record performance As is always the case with Trump & Company the figures were a lie. 

Here is a one minute YouTube video of a Trump spox backing out the lie via a question from a White House reporter.



If you revisit the image in the lead portion of this post, you will find at least one glaring example of why Trump's economy will join others of GOP past presidents.


In July 2014, The Kansas City star made the grievous error of publishing an OP-ED from noted right-wing economic talking head: Stephen Moore.  The Star should have known better as Moore has been a long-standing conservative economic postulator who was undoubtedly has served in GOP economic policy for decades.  It takes nothing more than a quick Google search to determine the effectiveness of GOP economic performance compared to Democrat Party performance.  First, let's run through a quick set of charts and that promised perspective on GOP economic policy.



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Image result for US economy dem vs GOP

The GOP's challenge: denying Obama's

job creation by president


income-growth-rates-1948-2005-under-democrats-vs-republicans

Graph depicting Poverty Rate By State

Republican vs Democrat on the US National Debt

Federal debt 1901 - 2010 (Obama first year in office). 
Image result for US economy dem vs GOP
( Graphic provided by The Creative Commons and found on Wikipedia at: http://en.wikipedia.org/wiki/File:Federal_Debt_1901-2010.png )

Report: Deficit Falls to $483 Billion, but 
Image result for us deficit

What about Moore?


If you haven't followed US economic news you may not be aware of Trump's impact on the US Deficit. Herewith are two articles (Forbes, The Washington Post ) with frankly and honestly credible information of how Trump is following GOP economic policy which can only yield another Great Recession. We should hope the GOP doesn't drive the nation to a second Great Depression.  Lest we forget Trump's Trade Deficit.

Now, that was a lot of charts supported information regarding GOP economic policy and its failed results.  Key data as we consider the current economic team with Stephen Moore as an adviser and frequent talking head on CNN.  

Following an LA Times piece about how Tea Party tax cuts have turned Kansas into a state of economic ruin, Moore went to work while wearing his "GOP economic savior while wearing his tea party superhero suit) wrote the aforementioned OP-ED.  LA Times posted, here.

Excerpt
...So when his piece asserted that "over the last five years," the no-income-tax states of Texas and Florida gained jobs while the high-tax states of New York and California lost jobs, the editors waved it through.
Moore punctuated his statistical victory over Brownback's critics with the ironic refrain "Oops."
Read the facts via the LA Times link above.  

Moore is not only the most visible of Heritage Foundation conservatives who consistently speak of the virtues of GOP economic policy, but he has also been around for quite some time. Thus Moore's impact on the continuation of economic performance delineated various charts above is undeniable and very much unreliable. Trump's current Deficit run-up is proof positive of the failures of the Trump economy. The current spending validated the myth the GOP is the party of the fiscal conservative.

All said let's watch Moore along with the most verbose of Trump economic supporters (via television): Stuart Varney.  The backdrop of the following video is the current deep drops in stock market indicators. You will notice the show host's attempts to dismiss or make less critical matters related to economic indicators. 

Will America ever learn? 

The GOP is a party of social regression with a deep aversion to societal change. It is not a party imbued with an aversion to spending and it is a party which will forever advance policies which favor the rich And. those policies will always fail..and guess who suffers most? It is worth noting Moore nor Varney and by no means, any of the men pictured in the led photograph, are some of the nation's most wealthy.

And then there is this.


The stock market on the day Trump signed the tax bill: 24,754 The stock market today, nearly a year later: 24,480. That's a decrease of 1.1% since the tax bill was signed. And in the meantime, the US debt is exploding at an even more unsustainable rate.
Wake Up America!

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