- President Donald Trump presides over an administration that has seen an enormous level of controversy that could overshadow a burgeoning economy.
- He has delivered on promises to cut taxes and regulations and promote activity through more aggressive government spending.
- Critics believe that it won't last because the fiscal stimulus is aimed only at near-term growth.
- The results, though, have been impressive: a surge in company profits and near-record levels of optimism from consumers and businesses.
Trump has set economic growth on fire. Here is how he did it
Jeff Cox | Finance Editor
6 comments:
MMT doesn't really address real productivity -- which is where Trump has focused most of his efforts except by talking about a JG up-skilling the workforce and vague policy proposals about things like single payer being deflationary without a clear mechanism.
Tackling the regulatory monopolies, barriers to entry, opaque pricing and other inefficiencies that actually fix problems are viewed with skepticism and often hostility.
I would say that MMT focuses on optimization of use of real resources to achieve optimal output at full employment as a policy goal.
It's more about efficiency and effectiveness than "productivity."
The economic concept of "productivity" is ill-defined. What is "total factor productivity," that is, how it is measured?
total factor productivity
Bad link above.
Here is the correct link.
https://en.wikipedia.org/wiki/Total_factor_productivity#Critiques
Amazing, isn’t it? On one hand the media outlets endlessly vilify Trump. On the other hand those same outlets praise Trump for a (supposedly) strong economy. Either way, it is media b.s.
America’s “economic growth” is in the financial economy, not the real economy. Even CNBC admits that the “growth” is in the stock market, where growth is caused by corporate stock buybacks, which do not increase the production of goods or services. Growth on Wall Street does not mean growth on Main Street.
“The results have been impressive: a surge in company profits and near-record levels of optimism from consumers and businesses.”
Company profits are up, but wages are not. Meanwhile runaway housing prices continue to cause homelessness to spread. I know this because I can see it with my own eyes. Tent cities continue to expand every day.
This CNBC article is b.s.
Things are great! Except for all the bums clogging up the sidewalks. Can’t we just ship them off to labor camps somewhere?
https://www.businessinsider.com/us-jobs-report-unemployment-rate-august-2018-2018-9
“Jobs report beats as wage growth soars at its fastest pace since the Great Recession“
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