Raser’s Edge: Trump’s
“greatest economic turnaround?” Eh… Not
really
Trump just claimed that he is responsible for the greatest
economic “turnaround” in American history.
Not really. If you fact check the
real economic performance over the last ten years you will find some of his
miraculous numbers are not as good as those during the Obama
Administration. But never mind. I am fully aware if I were to list the
contradictory data, the Trumpists would defend their dearly beloved, claiming
my sources are all phony, liberal lies
and, oh yeah, what about Hillary’s emails?
So I am not even going to try.
The fact is, the good American economic performance is a continuation
of trends that started at the beginning of the Obama years. To prove my point, I will use my own personal
data which, I assure you, are incontestable “real facts” since I have the IRA
and annuity statements to prove it.
When Obama inherited the economic disaster created by George
W. Bush and his Republicans, my retirement holdings had plunged 30 percent
below what they were when the Bush Republicans took over. Obviously, it was not a good idea to cash out
what was left so I let it sit and hoped for the best.
During the Obama years, my holdings not only recuperated the
30 percent they lost under Bush, but added about another 20 percent by the time
Obama left office. My
holdings have continued the upward trend under Trump for which I am grateful
and hope it continues that way. In six
months I’ll publish a sequel to this post and we shall see. So I have Obama to thank for a real “turnaround”
from the economic mess George W created. I really don’t want to see a Trump “turnaround.”
If we do, the DOW will take a nosedive. Once
again we have another example that Trump is either lying or he hasn’t the vaguest
idea of what he is talking about.
To prove that I am not making this up, I have included a
link below to Investopedia that includes a graph based on real Dow Jones numbers
corroborating my personal experience. As you can see, the overall stock market
shows a constant overall upward trend since Obama took over the economic disaster
created by Bush. So rather than buy into
Trump’s unfounded bragging that his policies are a “turnaround” and the best in
the history of the universe, let’s give him credit for keeping a trend he
inherited going and hope it continues that way.
Stay tuned.
Note: Now before the
Trumpists attack Investopedia’s facts
which are really real, here’s Mediabiasfactcheck’s rating: “ We rate
Investopedia high for factual reporting as they present news with low
biased wording and always source their information to credible media outlets,
therefore we place them in the least biased category.”
https://www.investopedia.com/ask/answers/101314/where-was-dow-jones-when-obama-took-office.asp