Trumpty Dumpty economics: American manufacturing. The failure of Trump’s trade and economic policy

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"The trade deficit is growing more than twice as fast as the overall economy ... trade deficit with China has grown even faster, 20.5 percent in the same period. ..."

"IMF now predicts that the broadest measure of the U.S. trade deficit will nearly double between 2017 and 2022..."

Ford and GM have reduced jobs by a combined total of 36,000 and that's probably just the start of the cull of American auto workers. Perhaps they can be retrained to make MAGA hats and Trump extra long ties that would sell for $ 200 each based on US worker productivity.

Donald Trumpery has caused the US dollar to rise against other currencies which has further damaged US manufacturer's competitiveness.

The only US financial measure rising at an accelerating rate is the Federal Debt which is supercharged.

The state of American manufacturing: The failure of Trump’s trade and economic policies

The state of American manufacturing
The failure of Trump’s trade and economic policies

Separating fact from fiction is always tough when listening to President Trump, who lives in his own, fact-free fantasy-world. This is particularly so when it comes to trade and manufacturing. Here are a few key points on that topic to keep in mind when listening to his State of the Union address. There’s a lot that can be done to create millions of good manufacturing jobs for working Americans, but not the way this president is going about it.
The trade deficit is growing more than twice as fast as the overall economy, because of the Trump administration’s trade and economic policies. The total U.S. goods trade deficit has increased 18.1 percent since 2016, and our trade deficit with China has grown even faster, 20.5 percent in the same period (annual estimates, based on year to date trade through October). Growing trade deficits over the past two decades are the single largest cause of the loss of roughly 5 million U.S. manufacturing jobs.

The Trump administration has failed to end currency manipulation and dollar misalignment, despite Trump’s promise to name China a currency manipulator on day one upon taking office. Currency misalignment is the single largest cause of growing U.S. trade deficits. U.S. trade can be rebalanced, creating millions of good manufacturing jobs, by lowering the value of the dollar by about 25 percent. The failure to end currency misalignment is a major cause of GM’s recent decision to close 5 manufacturing plants and outsource production, eliminating 12,000 jobs, and Ford’s plan to reduce its workforce by 12 percent, eliminating 24,000 jobs.

Trump’s massive tax cuts (for corporations and the wealthy) and spending increases are expanding the federal budget deficit, pushing up the value of the dollar and the U.S. trade deficit. The dollar has increased 20 percent since 2013, including 5 percent in 2018 alone. As a result, the IMF now predicts that the broadest measure of the U.S. trade deficit will nearly double between 2017 and 2022. Growing trade deficits will decimate manufacturing over the next few years, and could push the United States into a recession.
Trump’s trade deals with Mexico and Canada and the negotiations with China will not fix our trade problems. The new tax bill encourages firms to outsource more jobs by reducing taxes paid when firms outsource production. The labor and environmental restrictions in the new NAFTA deal must be made strictly enforceable, or it will simply encourage more outsourcing. And the NAFTA deal grants drug-makers new powers to block generic competition and to lock in high medicine prices.

Negotiations with China also seek to lock down increased protections for the intellectual property and profits of U.S. multinationals, but this will just encourage them to outsource more production to China. And China has already played its ace-in-the-hole in the trade war with the United States, lowering the value of its currency by 10 percent since April of 2018, more than offsetting the impacts of Trump’s tariffs on trade flows. As a result, the U.S. trade deficit with China recently reached an all-time high, despite Trump’s China tariffs.
The most important cause of growing U.S. trade deficits and manufacturing job losses is not faulty trade deals, but a misaligned dollar. A handful of countries with substantially undervalued currencies have been running large, structural trade surpluses for several decades. This hurts workers in many countries that have persistently large trade deficits, including the United Kingdom, Canada, Mexico as well as the United States. The surplus countries are China, the European Union (especially Germany and the Netherlands), Japan, and Korea, plus a handful of countries that have engaged in persistent currency manipulation including Denmark, Singapore, Switzerland, and Taiwan.
So what should the United States be doing instead?
The single most important step we can take to rebuild manufacturing is to rebalance trade by realigning the U.S. dollar. There are several ways this can be achieved. In 1985, the last time this was done, Congress worked with the administration to encourage our trading partners to negotiate the Plaza Accord, an agreement to realign currencies. If a similar effort were to fail, Congress could authorize the U.S. Treasury and the Federal Reserve to sell dollars in global markets to reduce the currency’s value to a competitive level. Or, we can impose a tax on purchases by foreign governments and investors of dollar-denominated financial assets.
Lastly, Congress should not be pressured into approving trade deals unless they achieve enforceable labor and environmental standards that can be quickly implemented. Likewise, new agreements should not be approved if they increase the incentives to outsource production from the United States. It is time for a new approach to trade, one based on a clear assessment of its implications for jobs and production in the United States.
 
The Economic Policy Institute has a clear cut left leaning bias through political affiliation with labor and re-distributive economic policy. It often publishes factual information that utilizes loaded words (wording that attempts to influence an audience by using appeal to emotion or stereotypes), to favor liberal causes.

To say in July of 2019, that Trump's trade and economic policies have been a failure, is about akin to saying the world is flat. Please don't insult our intelligence.
 
It's funny how the debt always rises but who is bitching about it entirely depends on the person in office. I think Trump did the right thing by cutting taxes. The problem comes when we don't follow up by finding ways to reduce the cost of the government. Instead we do nothing and just take on debt.
 
  • The best economic presidency in US history (still in motion)

  • Due to President Trump’s pro-growth policies, real gross domestic product (GDP) growth exceeded 3 percent over the last four quarters.
  • Real GDP grew at annual rates of 3.4 percent in the third quarter of 2018 and 4.2 percent in the second quarter.
  • More than 5 million jobs have been created since President Trump’s election and the unemployment rate remains below 4 percent.
  • This is the eighth time this year that the unemployment rate has been below 4 percent.
  • Prior to this year, the unemployment rate had fallen below 4 percent only five times since 1970.
  • The unemployment rate for African Americans in May fell to 5.9 percent, which is the lowest rate on record.
  • Asian and Hispanic-American unemployment rates have reached record lows this year. same with disabled unemployment.
  • Initial weekly jobless claims have hit a nearly 50-year low under President Trump.
  • Under President Trump, job openings outnumber the unemployed for the first time on record.
  • Recently, more than two-thirds of Americans rated “now” as a good time to find a quality job, tying a record high in a poll by Gallup.
  • Americans are seeing more money in their pockets thanks to the booming economy.
  • In recent months, workers have seen their largest nominal year over year wage growth in nearly a decade.
  • In 2017, real median household income rose to a post-recession high, and the median income stands at the highest level ever recorded in US history ($61,400)
  • President Trump’s policies are helping to lift Americans out of poverty.
  • African-American and Hispanic-American poverty rates reached record lows of 21.2 percent and 18.3 percent, respectively, in 2017.
  • Since the election, 4.6 million Americans have been lifted off of food stamps.
  • Consumer confidence has soared under President Trump, recently reaching an 18-year high.
  • President Trump is delivering on his promise to bring back American manufacturing.
  • The National Association of Manufacturers’ Outlook Index had the highest annual average in its history over the past year.
  • Manufacturing added 284,000 jobs in 2018, the most added in a year since 1997
  • Small Business optimism jumped to a record high under President Trump, according to a survey by the National Federation of Independent Business (NFIB).
  • The NFIB’s Small Business Optimism Index broke a 35-year record in August.
  • President Trump signed the Tax Cuts and Jobs Act into law, ushering in the largest package of tax cuts and reforms in American history.
  • These tax cuts are delivering real results for American families and workers.
  • More than 6 million workers received tax cut bonuses and benefits.
  • More than 100 utility companies have announced lower rates.
  • President Trump is ensuring American workers receive the training and education they need to compete in today’s economy.
  • President Trump signed an executive order establishing the National Council for the American worker.
  • More than 185 companies and associations have signed our “Pledge to America’s Workers,” promising more than 6.4 million new training and career opportunities.
  • The President signed legislation that reauthorized the Carl D. Perkins Career and Technical Education Act, making more than $1 billion available for career education programs.
  • President Trump has prioritized the economic empowerment of women.
  • The women’s unemployment rate recently reached its lowest rate in 65 years.
  • The Small Business Administration lent approximately $500 million more in capital to women-owned businesses in 2017 compared to 2016.
  • The Administration helped launch the Women Entrepreneurs Finance Initiative, which could leverage more than $1 billion to support women entrepreneurs.
 
"The trade deficit is growing more than twice as fast as the overall economy ... trade deficit with China has grown even faster, 20.5 percent in the same period. ..."

"IMF now predicts that the broadest measure of the U.S. trade deficit will nearly double between 2017 and 2022..."

Ford and GM have reduced jobs by a combined total of 36,000 and that's probably just the start of the cull of American auto workers. Perhaps they can be retrained to make MAGA hats and Trump extra long ties that would sell for $ 200 each based on US worker productivity.

Donald Trumpery has caused the US dollar to rise against other currencies which has further damaged US manufacturer's competitiveness.

The only US financial measure rising at an accelerating rate is the Federal Debt which is supercharged.

The state of American manufacturing: The failure of Trump’s trade and economic policies

The state of American manufacturing
The failure of Trump’s trade and economic policies

Separating fact from fiction is always tough when listening to President Trump, who lives in his own, fact-free fantasy-world. This is particularly so when it comes to trade and manufacturing. Here are a few key points on that topic to keep in mind when listening to his State of the Union address. There’s a lot that can be done to create millions of good manufacturing jobs for working Americans, but not the way this president is going about it.
The trade deficit is growing more than twice as fast as the overall economy, because of the Trump administration’s trade and economic policies. The total U.S. goods trade deficit has increased 18.1 percent since 2016, and our trade deficit with China has grown even faster, 20.5 percent in the same period (annual estimates, based on year to date trade through October). Growing trade deficits over the past two decades are the single largest cause of the loss of roughly 5 million U.S. manufacturing jobs.

The Trump administration has failed to end currency manipulation and dollar misalignment, despite Trump’s promise to name China a currency manipulator on day one upon taking office. Currency misalignment is the single largest cause of growing U.S. trade deficits. U.S. trade can be rebalanced, creating millions of good manufacturing jobs, by lowering the value of the dollar by about 25 percent. The failure to end currency misalignment is a major cause of GM’s recent decision to close 5 manufacturing plants and outsource production, eliminating 12,000 jobs, and Ford’s plan to reduce its workforce by 12 percent, eliminating 24,000 jobs.

Trump’s massive tax cuts (for corporations and the wealthy) and spending increases are expanding the federal budget deficit, pushing up the value of the dollar and the U.S. trade deficit. The dollar has increased 20 percent since 2013, including 5 percent in 2018 alone. As a result, the IMF now predicts that the broadest measure of the U.S. trade deficit will nearly double between 2017 and 2022. Growing trade deficits will decimate manufacturing over the next few years, and could push the United States into a recession.
Trump’s trade deals with Mexico and Canada and the negotiations with China will not fix our trade problems. The new tax bill encourages firms to outsource more jobs by reducing taxes paid when firms outsource production. The labor and environmental restrictions in the new NAFTA deal must be made strictly enforceable, or it will simply encourage more outsourcing. And the NAFTA deal grants drug-makers new powers to block generic competition and to lock in high medicine prices.

Negotiations with China also seek to lock down increased protections for the intellectual property and profits of U.S. multinationals, but this will just encourage them to outsource more production to China. And China has already played its ace-in-the-hole in the trade war with the United States, lowering the value of its currency by 10 percent since April of 2018, more than offsetting the impacts of Trump’s tariffs on trade flows. As a result, the U.S. trade deficit with China recently reached an all-time high, despite Trump’s China tariffs.
The most important cause of growing U.S. trade deficits and manufacturing job losses is not faulty trade deals, but a misaligned dollar. A handful of countries with substantially undervalued currencies have been running large, structural trade surpluses for several decades. This hurts workers in many countries that have persistently large trade deficits, including the United Kingdom, Canada, Mexico as well as the United States. The surplus countries are China, the European Union (especially Germany and the Netherlands), Japan, and Korea, plus a handful of countries that have engaged in persistent currency manipulation including Denmark, Singapore, Switzerland, and Taiwan.
So what should the United States be doing instead?
The single most important step we can take to rebuild manufacturing is to rebalance trade by realigning the U.S. dollar. There are several ways this can be achieved. In 1985, the last time this was done, Congress worked with the administration to encourage our trading partners to negotiate the Plaza Accord, an agreement to realign currencies. If a similar effort were to fail, Congress could authorize the U.S. Treasury and the Federal Reserve to sell dollars in global markets to reduce the currency’s value to a competitive level. Or, we can impose a tax on purchases by foreign governments and investors of dollar-denominated financial assets.
Lastly, Congress should not be pressured into approving trade deals unless they achieve enforceable labor and environmental standards that can be quickly implemented. Likewise, new agreements should not be approved if they increase the incentives to outsource production from the United States. It is time for a new approach to trade, one based on a clear assessment of its implications for jobs and production in the United States.


The only US financial measure rising at an accelerating rate is the Federal Debt which is supercharged.

That may trigger a list warning. You are out of control. Watch Yourself. There is always room.

$7T added right after Chancy took over Congress (2007) and set the country on fire to allow them to raid the USA Treasury. #never forget
 
The Economic Policy Institute has a clear cut left leaning bias through political affiliation with labor and re-distributive economic policy. It often publishes factual information that utilizes loaded words (wording that attempts to influence an audience by using appeal to emotion or stereotypes), to favor liberal causes.

To say in July of 2019, that Trump's trade and economic policies have been a failure, is about akin to saying the world is flat. Please don't insult our intelligence.
And the blind partisan right will of course continue to ignore the facts and truth.
 
"The trade deficit is growing more than twice as fast as the overall economy ... trade deficit with China has grown even faster, 20.5 percent in the same period. ..."

"IMF now predicts that the broadest measure of the U.S. trade deficit will nearly double between 2017 and 2022..."

Ford and GM have reduced jobs by a combined total of 36,000 and that's probably just the start of the cull of American auto workers. Perhaps they can be retrained to make MAGA hats and Trump extra long ties that would sell for $ 200 each based on US worker productivity.

Donald Trumpery has caused the US dollar to rise against other currencies which has further damaged US manufacturer's competitiveness.

The only US financial measure rising at an accelerating rate is the Federal Debt which is supercharged.

The state of American manufacturing: The failure of Trump’s trade and economic policies

The state of American manufacturing
The failure of Trump’s trade and economic policies

Separating fact from fiction is always tough when listening to President Trump, who lives in his own, fact-free fantasy-world. This is particularly so when it comes to trade and manufacturing. Here are a few key points on that topic to keep in mind when listening to his State of the Union address. There’s a lot that can be done to create millions of good manufacturing jobs for working Americans, but not the way this president is going about it.
The trade deficit is growing more than twice as fast as the overall economy, because of the Trump administration’s trade and economic policies. The total U.S. goods trade deficit has increased 18.1 percent since 2016, and our trade deficit with China has grown even faster, 20.5 percent in the same period (annual estimates, based on year to date trade through October). Growing trade deficits over the past two decades are the single largest cause of the loss of roughly 5 million U.S. manufacturing jobs.

The Trump administration has failed to end currency manipulation and dollar misalignment, despite Trump’s promise to name China a currency manipulator on day one upon taking office. Currency misalignment is the single largest cause of growing U.S. trade deficits. U.S. trade can be rebalanced, creating millions of good manufacturing jobs, by lowering the value of the dollar by about 25 percent. The failure to end currency misalignment is a major cause of GM’s recent decision to close 5 manufacturing plants and outsource production, eliminating 12,000 jobs, and Ford’s plan to reduce its workforce by 12 percent, eliminating 24,000 jobs.

Trump’s massive tax cuts (for corporations and the wealthy) and spending increases are expanding the federal budget deficit, pushing up the value of the dollar and the U.S. trade deficit. The dollar has increased 20 percent since 2013, including 5 percent in 2018 alone. As a result, the IMF now predicts that the broadest measure of the U.S. trade deficit will nearly double between 2017 and 2022. Growing trade deficits will decimate manufacturing over the next few years, and could push the United States into a recession.
Trump’s trade deals with Mexico and Canada and the negotiations with China will not fix our trade problems. The new tax bill encourages firms to outsource more jobs by reducing taxes paid when firms outsource production. The labor and environmental restrictions in the new NAFTA deal must be made strictly enforceable, or it will simply encourage more outsourcing. And the NAFTA deal grants drug-makers new powers to block generic competition and to lock in high medicine prices.

Negotiations with China also seek to lock down increased protections for the intellectual property and profits of U.S. multinationals, but this will just encourage them to outsource more production to China. And China has already played its ace-in-the-hole in the trade war with the United States, lowering the value of its currency by 10 percent since April of 2018, more than offsetting the impacts of Trump’s tariffs on trade flows. As a result, the U.S. trade deficit with China recently reached an all-time high, despite Trump’s China tariffs.
The most important cause of growing U.S. trade deficits and manufacturing job losses is not faulty trade deals, but a misaligned dollar. A handful of countries with substantially undervalued currencies have been running large, structural trade surpluses for several decades. This hurts workers in many countries that have persistently large trade deficits, including the United Kingdom, Canada, Mexico as well as the United States. The surplus countries are China, the European Union (especially Germany and the Netherlands), Japan, and Korea, plus a handful of countries that have engaged in persistent currency manipulation including Denmark, Singapore, Switzerland, and Taiwan.
So what should the United States be doing instead?
The single most important step we can take to rebuild manufacturing is to rebalance trade by realigning the U.S. dollar. There are several ways this can be achieved. In 1985, the last time this was done, Congress worked with the administration to encourage our trading partners to negotiate the Plaza Accord, an agreement to realign currencies. If a similar effort were to fail, Congress could authorize the U.S. Treasury and the Federal Reserve to sell dollars in global markets to reduce the currency’s value to a competitive level. Or, we can impose a tax on purchases by foreign governments and investors of dollar-denominated financial assets.
Lastly, Congress should not be pressured into approving trade deals unless they achieve enforceable labor and environmental standards that can be quickly implemented. Likewise, new agreements should not be approved if they increase the incentives to outsource production from the United States. It is time for a new approach to trade, one based on a clear assessment of its implications for jobs and production in the United States.
This is what happens when a President "governs" solely to placate his "base".
.
 
  • Thread starter
  • Banned
  • #8
The Economic Policy Institute has a clear cut left leaning bias through political affiliation with labor and re-distributive economic policy. It often publishes factual information that utilizes loaded words (wording that attempts to influence an audience by using appeal to emotion or stereotypes), to favor liberal causes.

To say in July of 2019, that Trump's trade and economic policies have been a failure, is about akin to saying the world is flat. Please don't insult our intelligence.
And the blind partisan right will of course continue to ignore the facts and truth.

Trump has made blind sycophancy a requirement for GOP lawmakers, none of whom has any balls or brains.
 
  • The best economic presidency in US history (still in motion)

  • Due to President Trump’s pro-growth policies, real gross domestic product (GDP) growth exceeded 3 percent over the last four quarters.
  • Real GDP grew at annual rates of 3.4 percent in the third quarter of 2018 and 4.2 percent in the second quarter.
  • More than 5 million jobs have been created since President Trump’s election and the unemployment rate remains below 4 percent.
  • This is the eighth time this year that the unemployment rate has been below 4 percent.
  • Prior to this year, the unemployment rate had fallen below 4 percent only five times since 1970.
  • The unemployment rate for African Americans in May fell to 5.9 percent, which is the lowest rate on record.
  • Asian and Hispanic-American unemployment rates have reached record lows this year. same with disabled unemployment.
  • Initial weekly jobless claims have hit a nearly 50-year low under President Trump.
  • Under President Trump, job openings outnumber the unemployed for the first time on record.
  • Recently, more than two-thirds of Americans rated “now” as a good time to find a quality job, tying a record high in a poll by Gallup.
  • Americans are seeing more money in their pockets thanks to the booming economy.
  • In recent months, workers have seen their largest nominal year over year wage growth in nearly a decade.
  • In 2017, real median household income rose to a post-recession high, and the median income stands at the highest level ever recorded in US history ($61,400)
  • President Trump’s policies are helping to lift Americans out of poverty.
  • African-American and Hispanic-American poverty rates reached record lows of 21.2 percent and 18.3 percent, respectively, in 2017.
  • Since the election, 4.6 million Americans have been lifted off of food stamps.
  • Consumer confidence has soared under President Trump, recently reaching an 18-year high.
  • President Trump is delivering on his promise to bring back American manufacturing.
  • The National Association of Manufacturers’ Outlook Index had the highest annual average in its history over the past year.
  • Manufacturing added 284,000 jobs in 2018, the most added in a year since 1997
  • Small Business optimism jumped to a record high under President Trump, according to a survey by the National Federation of Independent Business (NFIB).
  • The NFIB’s Small Business Optimism Index broke a 35-year record in August.
  • President Trump signed the Tax Cuts and Jobs Act into law, ushering in the largest package of tax cuts and reforms in American history.
  • These tax cuts are delivering real results for American families and workers.
  • More than 6 million workers received tax cut bonuses and benefits.
  • More than 100 utility companies have announced lower rates.
  • President Trump is ensuring American workers receive the training and education they need to compete in today’s economy.
  • President Trump signed an executive order establishing the National Council for the American worker.
  • More than 185 companies and associations have signed our “Pledge to America’s Workers,” promising more than 6.4 million new training and career opportunities.
  • The President signed legislation that reauthorized the Carl D. Perkins Career and Technical Education Act, making more than $1 billion available for career education programs.
  • President Trump has prioritized the economic empowerment of women.
  • The women’s unemployment rate recently reached its lowest rate in 65 years.
  • The Small Business Administration lent approximately $500 million more in capital to women-owned businesses in 2017 compared to 2016.
  • The Administration helped launch the Women Entrepreneurs Finance Initiative, which could leverage more than $1 billion to support women entrepreneurs.
Wrong.

The best economic presidency in Murican history still belongs to Coolidge.

He CUT (as opposed to decreasing the baseline increases) to BOTH spending and bureaucratic expansion.

The last republican with a full set of two balls.
 
Wrong.

The best economic presidency in Murican history still belongs to Coolidge.

He CUT (as opposed to decreasing the baseline increases) to BOTH spending and bureaucratic expansion.

The last republican with a full set of two balls.
Wrong.

Those aren't the correct criteria.

The correct criterea >>

The unemployment rate for African Americans in May fell to 5.9 percent, which is the lowest rate on record.

Asian and Hispanic-American unemployment rates have reached record lows this year. same with disabled unemployment.

Under President Trump, job openings outnumber the unemployed for the first time on record.

Recently, more than two-thirds of Americans rated “now” as a good time to find a quality job, tying a record high in a poll by Gallup.

In 2017, real median household income rose to a post-recession high, and the median income stands at the highest level ever recorded in US history ($61,400)

Black and Hispanic-American poverty rates reached record lows of 21.2 percent and 18.3 percent, respectively, in 2017.

The National Association of Manufacturers’ Outlook Index had the highest annual average in its history over the past year.

Small Business optimism jumped to a record high under President Trump, according to a survey by the National Federation of Independent Business (NFIB).

President Trump signed the Tax Cuts and Jobs Act into law, ushering in the largest package of tax cuts and reforms in American history.












 
Oh be serious. You and I both know that yer little list is mostly hyperbole and misrepresented data where it isn't outright lies.
I was talking about the Islamization Quiz (which you also ran away from), but the list I posted here is accurate. if you think you have some evidence to discredit it, let's hear it.
 
Oh be serious. You and I both know that yer little list is mostly hyperbole and misrepresented data where it isn't outright lies.
I was talking about the Islamization Quiz (which you also ran away from), but the list I posted here is accurate. if you think you have some evidence to discredit it, let's hear it.
3% GDP?

Nope.

U.S. economy misses Trump's 3% target in 2018 - Reuters

A lot of the rest is stuff that just goes up all the time, like median household income. Claiming that is like this meme:

because-of-me-its-now-2019-thats-the-highest-number-39378434.png


Your list is mostly bullshit. You'd be better off finding some of his actual accomplishments (few as they are) than just reposting some stupid list you found online with out checking it.
 

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