Calling it "The Most Important Least-Noticed Economic Event of the Decade," the New York Times finally acknowledges the degree to which Barack Obama's policies were strangling business investment in his final year in office. During the presidential campaign, acknowledging this "mini recession that many missed" was taboo, of course. And among those "many" who "least-noticed" it was the New York Times. So why is the Times admitting it now? Why, of course, to denigrate the achievements of President Trump in rescuing the economy from the miasma Obama inflicted on it with taxes and regulatory policies.
Neil Irwin writes:
[In 2015 and 2016, t]here was a sharp slowdown in business investment, caused by an interrelated weakening in emerging markets, a drop in the price of oil and other commodities, and a run-up in the value of the dollar.
The pain was confined mostly to the energy and agricultural sectors and to the portions of the manufacturing economy that supply them with equipment. Overall economic growth slowed but remained in positive territory. The national unemployment rate kept falling. Anyone who didn't work in energy, agriculture or manufacturing could be forgiven for not noticing it at all.
Even though the Times and its readers were able to disregard the suffering in the oil patch, on farms, and in the Rust Belt manufacturing strongholds, candidate Trump actively campaigned with these constituencies and won the presidency on his promise to revive them from the suffering inflicted upon them. He knew; he acted; and after he won, he revived them. As Instapundit's Glenn Reynolds quips:
It wasn't invisible – Trump saw it – they just didn't report it because they didn't want to make Obama look bad or hurt Hillary's prospects.
(Excerpt) Read more at americanthinker.com ..
They could not have made Hillary look any worse than she herself was doing. Didn’t she want to continue the rush to globalism and the idiotic war on climate change, and against coal, gas and oil which is actually a war on capitalism, industry and the American people. She stumbled bigly.
Neil Irwin writes:
[In 2015 and 2016, t]here was a sharp slowdown in business investment, caused by an interrelated weakening in emerging markets, a drop in the price of oil and other commodities, and a run-up in the value of the dollar.
The pain was confined mostly to the energy and agricultural sectors and to the portions of the manufacturing economy that supply them with equipment. Overall economic growth slowed but remained in positive territory. The national unemployment rate kept falling. Anyone who didn't work in energy, agriculture or manufacturing could be forgiven for not noticing it at all.
Even though the Times and its readers were able to disregard the suffering in the oil patch, on farms, and in the Rust Belt manufacturing strongholds, candidate Trump actively campaigned with these constituencies and won the presidency on his promise to revive them from the suffering inflicted upon them. He knew; he acted; and after he won, he revived them. As Instapundit's Glenn Reynolds quips:
It wasn't invisible – Trump saw it – they just didn't report it because they didn't want to make Obama look bad or hurt Hillary's prospects.
(Excerpt) Read more at americanthinker.com ..
They could not have made Hillary look any worse than she herself was doing. Didn’t she want to continue the rush to globalism and the idiotic war on climate change, and against coal, gas and oil which is actually a war on capitalism, industry and the American people. She stumbled bigly.
