Crimadella wrote:
Antrax wrote:
The influence of government policy on the american economy has always been overstated. The economy is doing well right now not because of anything Trump or Obama has done, but because of factors outside of the control of the government.
Politicians cannot control the economy much as they would like to.
Didn't the stock market jump up when Trump got into office because of expected tax cuts on the rich? Or what do you know about this, I have heard that expectations jumped when Trump got into office, which boosted our economy. (I'm in the process of learning all this stuff)
Yes stock market speculation happened in the wake of Trump's election and rallied all through the transition period. This was just that: speculation. Trump hadn't done anything yet. The continued growth has to do with a fundamentally strong economy that was growing strong before Trump took office. If the economy wasn't fundamentally strong when he took over the speculation would've evaporated before any of his policies could take effect. I don't credit Obama with this economy, just as I don't credit Trump. All their efforts to grow the economy are the equivalent of trying to change the course of a giant cruise ship with a single oar.
One major reason for the economic growth (climate change fanatics cover your eyes) is the growth of the frakking industry. The chemicals industry in the US has bounced back strong as the result of cheap natural gas. This has lessened energy and material costs for all other industries boosting the economy. No tax or monetary policy caused this merely technical innovation of private industry.
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"Ignorance may be bliss, but knowledge is power."