The Right Coast

Editor: Thomas A. Smith
University of San Diego
School of Law

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Monday, August 7, 2017

Donald Trump economy shows progress but also perils - Washington Times

With the Dow at 22,000, solid job gains, confidence high and and growth jumping to 2.6 percent in the last quarter under President Trump, the economy clearly has a new bounce in its step.


Maybe. Listen to Peter Schiff on Youtube and see if you still think so. It had me seriously wondering if I should sell my S&P index funds to buy gold. Schiff says the numbers measuring employment are crap, which is dreadfully plausible. For instance, if a guy holds down two part time jobs as a cook even though he's an out-of-work engineer, that counts as *two* jobs. So if he get fired and has to take two part time jobs, that's a gain for the economy. That's a change from when I was in guvment. Lots of other tweeks like this. Peter is a font of this information. The numbers on debt from 1980 till now are beyond appalling. The market's up, but for how long?

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It strikes me as mad to attribute anything in the economy to Trump: he's only been in office five minutes. The straits you (and many other countries) are in go back to before 2007-08 and to the bad decisions made then and since. He's a fool to claim any credit for stockmarket highs; it's only inviting more blame for the collapse to come.

Posted by: dearieme | Aug 7, 2017 4:09:16 PM