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The red arrow below shows the Exact Moment When President Donald Trump Saved the United States Economy from Democratic President Barack Obama

Donald Trump claims his economy has no relationship to the economy President Obama saved from the incompetent RepubliCON President George W. Bush. That, of course, is a lie. Both presidents reigned during the longest business expansion in United States history. So who had the better economic statistics between the two presidents? Obama did.

During Trump’s first 36 months in office, the US economy has gained 6.6 million jobs. But during a comparable 36-month period at the end of Obama’s tenure, employers added 8.1 million jobs or 23% more than what has been added since Trump took office. The average monthly gain so far under Trump is 182,000 jobs. During the last 36 months under Obama, employers were adding an average of 224,000 jobs a month.

I should also like to point out that at this point in his first and only term, President Jimmy Carter had enjoyed a gain of 10.1 million jobs. Employers added 8.5 million jobs during the first 36 months of Bill Clinton’s term and 7.8 million jobs during the first 36 months of Lyndon Johnson’s tenure, even though the labor force at that time was less than half the size of what it is today.

Total yearly corporate profits were also higher under Obama. Corporate profits peaked during the third quarter of 2014. That year also witnessed the greatest amount of total corporate profits in U.S. history. Corporate profits were higher in every year of Obama’s second term than in any year since Donald Trump became president.

In the three years under President Trump, Gross Domestic Product (GNP) has grown an average of 2.54 percent per year, while under the last three years of President Obama GNP rose 2.8 percent per year. Obviously, the economy grew faster under Obama.

President Trump pushed for and succeeded in getting tax cuts passed through congress almost exclusively for the rich and their corporations. The bill was signed into law by President Trump on December 22, 2017. Most of the changes introduced by the bill went into effect on January 1, 2018.

Since the tax cuts went into effect, GNP has grown 2.4 percent per year, which is lower than during Trump’s first year, and lower than the last three years of Obama’s presidency.  As predicted in this blog, the tax cuts have had a negative impact on the growth of GNP, but they have pushed the United States economy into a far more serious stock market bubble that will have dire repercussions and likely send the United States into the deepest recession since the Great Depression. The official stats show that when Trump says the economy is better because of the tax cuts, he is lying, the numbers do not lie. He will deserve some significant blame for the severity of the coming recession due to his tax cuts.

Under Trump, stocks were up 14 percent per year as of February 14, 2020. That is to be expected given his ruinous tax cuts for the rich, which have pushed the market up higher than it otherwise would have gone. Meanwhile, under Obama, stocks flew higher by 13.8 percent on a yearly basis, and he managed this without the tax cut pushed by Trump.

Overall, it appears with Obama we had an economy on the rise, while with Trump we have an economy on the decline. That is not necessarily the fault of Trump. The business cycle must end, and it just might be on his watch.

Average median home prices have declined since the last quarter of 2017, the yield curve has inverted, U.S. vehicle sales declined last year, the number of individuals and households applying for food stamps has risen since last May, sales of vehicles in China plummeted by 8 percent last year suggesting China may be in recession already and before the coronavirus, total business sales in the United States have declined over the last year, U.S. manufacturing has been tanking since last year, durable goods employment is down, corporate debt is at an all-time high as is corporate share buybacks, and all are signs of a possible looming world recession.

Naturally, whoever is president next January will get the blame. If it is Trump, he will simply be in the wrong place at the wrong time, just like Trump’s economy is riding the tailwinds of Obama’s economic miracle and saw him in the right place at the right time.

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Yesterday, US Senator Elizabeth Warren called for a Federal investigation of the passionate relationships between the New York Federal Reserve Bank and the investment banks of Wall Street. The senator wrote on her Facebook page, “When regulators care more about protecting big banks from accountability than they do about protecting the American people from risky and illegal behavior on Wall Street, it threatens our whole economy. We learned this the hard way in 2008. Congress must hold oversight hearings on the disturbing issues raised by yesterday’s whistle-blower (sic) report when it returns in November – because it’s our job to make sure our financial regulators are doing their jobs.”

US Senator Sharrod Brown serves on the Senate Banking Committee with Warren. He backed her request in a statement of his own. “These allegations deserve a full and thorough investigation, and American taxpayers deserve regulators who will fight each day on their behalf,” the Ohio senator and frequent financial industry critic said.

Carmen Segarra, fired by the New York Federal Reserve for doing her job.

Carmen Segarra is the whistle blower in question. The former bank examiner jumped into public consciousness earlier this month when she filed a wrongful termination lawsuit alleging that the Federal Reserve Bank of New York fired her after she refused to go soft on investment banking behemoth Goldman Sachs.

Her allegations of cozy relationships between the big investment banks and a 2009 internal report cited by This American Life and Pro Publica paint a picture of what’s called “regulatory capture” at the Fed. That means that an independent oversight body has stopped acting on its intended motivations of protecting the public from misdeeds by the entities it regulates and started acting on behalf of those entities’ own interests. Regulatory capture is a subtle thing defined less by concrete facts and figures and more by the tone of meetings and the way friendships between regulators and businesses color the regulators’ actions and views. If capture takes hold and goes unchecked, the regulatory cops on the beat turn into enablers. In the radio segment based on Segarra’s tapes, host Ira Glass compares captured regulators to “a watchdog who licks the face of an intruder, and plays catch with the intruder, instead of barking at him.”

Regulatory capture is just one example of the many abstract cultural forces on Wall Street that create an environment where financial misdeeds can flourish, imperiling the real economy that employs everyone else in the business of making and selling goods and services. Surveys of industry insiders have repeatedly found worrying evidence of ethical lapses among people in the financial business, including outright disregard for the law. A quarter of those surveyed in 2013 said that they would knowingly break the law for financial gain. That number jumped to 38 percent for respondents who have worked in finance for less than a decade. The same survey also found that women are twice as likely to fear retaliation for whistle blowing as men.

Most government regulations of Wall Street are to keep things honest, which you can’t expect Wall Street to do. The result of Wall Street investment bank transgressions in both the short and long term are typically income redistribution from the 99 to the 0.01 percent.

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Ultimately, it is political corruption that plays the biggest role in creating income and wealth inequality. The Reagan tax cuts gave the rich and powerful the money to craft legislation, purchase politicians, such as Wall Street Senator’s Ron Wyden, Orrin Hatch and Mitch McConnell, and then use their corrupt corporate news media to sell the legislation using lies to the public. Now that the public has begun to see reality, the news media, such as ABC News, Fox Propaganda Network, and the Oregonian newspaper, among many others, have continued the lies about how free trade treaties are good for the economy even though the US trade deficit continues to explode more and more with each treaty. That’s because US corporations are shipping more and more jobs overseas, and then they ship the products that used to be manufactured in the USA straight back to the USA, creating the trade gap and a few longshoremen jobs along the way.

Trade treaties are perhaps the principal reason the US economy is historically weak, and why job creation and wage and salary growth are also his historically bad.

The difference between the old wages and the new lower overseas wages goes into the pockets of the rich via higher corporate profits, surging dividends and soaring share prices. That’s why the same process in terms of inequality, political corruption and news media corruption are also in play with most government actions, whether it’s war in Iraq, education loans, public school testing, privatization scams, and deregulation schemes, keeping secret the negative health impacts of GMOs, among many others, it’s all about redistributing your income, your children’s income, and your neighbor’s income, as well as your health, to the 1 percent. The US government is a total cesspool of corruption, as is the corporate news media.

Now the Obama regime is trying to pass through congress the largest income redistribution treaty of them all, the Trans Pacific Partnership. Obama’s primary ally is this corrupt scam is Wall Street Senator Ron Wyden, who is crafting legislation that hasn’t been crafted yet, but he assures those who are listening that it will be fair and balanced. This legislation is called “smart track.” It’s job is to replace fast track legislation. Fast track allowed trade treaties to be voted on with little or no debate in congress, making it difficult for the public to discover what was going on and to muster opposition. Wyden’s smart track is just another scam to redistribute income from the 99 to the 1 percent on behalf of his wall street masters.

Fight back, protest, inform and organize your neighbors. Don’t let social issues get in the way of economic solidarity with your neighbors, because that’s what the corrupt news media, the political class, and the 1 percent have been doing to the 99 percent for forty years, and that’s solely to achieve their objective of income redistribution.

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Remember Who Crashed the Economy? According to 49 percent of Republicans, ACORN caused it, although that organization hasn’t existed for several years. Blame the Fox Propaganda Network for such mass stupidity.

The people above are people and organizations the entire Republican Party want to destroy. Compare that to the Democratic Party; only 80 of Democrats want to go after those people and organizations, and they need to do is covertly, because some of those people represent the base of the Democratic Party.

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It’s never a good sign, but it’s not always bad. The U.S. economy shrank for the first time in more than three years in the fourth quarter, suggesting massive weakness in the economy caused by the massive redistribution of income during the last 32 years. The strength of consumer spending and business investment may suggest that the economy will grow, albeit slowly, this year.

Gross domestic product—the broadest measure of goods and services churned out by the economy—fell at a 0.1% annual rate in the fourth quarter of 2012, according to the government’s initial estimate out Wednesday. However, these early estimates are often revised, so it’s too early to tell if the contraction is ominous.

Some alleged experts suggest the contraction was caused by a curtailment of government spending, which is possible. If true, it goes to show that an economic policy of austerity is blatantly stupid, but Republicans like because it will tank the economy.

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