#Trump says #tariffs have created an economic miracle.
The #facts tell a different story.
#delusional #economy #inflation #CostOfLiving #affordability #recession #trumpcession
https://apnews.com/article/trump-economy-inflation-tariffs-gdp-fact-check-fc415e879519f14ea5219f00a97994f4?utm_source=onesignal&utm_medium=push&utm_campaign=2026-02-06-Fact+Focus
How much of that miraculous growth was from the expanding AI bubble?
And how much damage has he done to US auto manufacturers (similar stories for Ford and GM)? https://finance.yahoo.com/news/stellantis-stock-collapses-as-jeep-maker-takes-26-billion-hit-in-latest-ev-pivot-134546771.html
@Nonilex I think he means a “miracle” for the off shore accounts of his organized crime family.
Looking back on the first year of his second term, #Trump boasts that he has resurrected the #US #economy by imposing big import #taxes on foreign products.
He made his case in a recent opinion piece in The WSJ, chiding the paper & critics, including mainstream economists, who predicted that #tariffs would backfire, raising prices & threatening growth. “Instead,” Trump wrote, “they have created an American economic miracle.”
But the proof he offers is often off-base or wrong altogether.
Here’s a look at the facts around Trump’s assessment of tariffs∶
CLAIM: “Just over one year ago, we were a ‘DEAD’ country. Now, we are the ‘HOTTEST’ country anywhere in the world!’”
THE FACTS: This is a standard statement from #Trump. But the #US #economy was hardly “dead” when Trump returned to office last year. And in Trump’s second term, it’s performed strongly — after getting off to a bumpy start.
#delusional #inflation #CostOfLiving #recession #trumpcession #FactCheck #TrumpLies
@Nonilex
Look at you Noni!!
Must be feeling a little better
In 2024, the last year of the #Biden presidency, American GDP grew 2.8%, adjusted for #inflation, faster than any wealthy country in the world except Spain. It also expanded at a healthy rate from 2021 through 2023. All while recovering from the pandemic that began under & was made incredibly worse by #Trump.
#delusional #economy #inflation #CostOfLiving #affordability #recession #trumpcession #FactCheck #TrumpLies
The numbers for all of 2025 aren’t out yet. But during the first 3 quarters of the year, Trump’s #tariffs — or the threat of them — delivered mixed results for the #US #economy.
From January to March, US GDP actually shrank for the first time in 3 years. The main culprit was easy to identify: a surge in imports, which are subtracted from GDP, as US companies rushed to buy foreign products before #Trump could impose tariffs on them.
But growth rebounded in the second half of the year. From April through June, the #economy expanded at a healthy 3.8% pace. And from July through September, it grew even faster — 4.4%. A big part of the surge was a drop in #imports, likely reflecting #Trump’s #tariffs as well as the fact that importers had already stocked up at the start of the year. Strong consumer spending also drove economic growth.
#economy #inflation #CostOfLiving #affordability #FactCheck #TrumpLies
#Trump also likes point to solid gains in the #US #StockMarket. He noted that #stocks hit new highs 52 times in 2025. It’s true that the US stock market did well last year. But it underperformed many foreign stock markets. The benchmark S&P 500 index climbed 17% — a nice gain but short of a 71% surge in South Korea, 29% in Hong Kong, 26% in Japan, 22% in Germany & 21% in the UK.
#delusional #economy #inflation #CostOfLiving #affordability #recession #trumpcession #FactCheck #TrumpLies
CLAIM: “Annual core inflation for the past 3 months has dropped to just 1.4% — far lower than almost anyone, other than me, had predicted.”
THE FACTS: #Trump is using cherry-picked data to vastly exaggerate where #inflation stands.
#delusional #economy #CostOfLiving #affordability #recession #trumpcession #FactCheck #TrumpLies
#Trump’s figure for annual #inflation in the past 3 months — which excludes the volatile #food & #energy prices — is low, but reflects data distorted by the [orchestrated] government #shutdown in Oct & Nov, which disrupted the government’s #data collection & forced the agency that compiles the figures to plug in rough estimates in some categories that artificially lowered overall inflation.
#delusional #economy #CostOfLiving #affordability #recession #trumpcession #FactCheck #TrumpLies
Annual core #inflation for the final six months of 2025 is higher at 2.6%. That is down from January 2025’s level but about where it was in October 2024. Overall, inflation has leveled off this year, & was 3% in September before the [orchestrated] government #shutdown, the same as it had been in January 2025.
#Trump #delusional #economy #CostOfLiving #affordability #recession #trumpcession #FactCheck #TrumpLies
It’s true that #inflation hasn’t been as high as many economists worried it would be when #Trump started rolling out #tariffs last spring, but that is partly because many of the “Liberation Day”tariffs were withdrawn, reduced or riddled with exemptions. When #Democrats won some high-profile #elections last year by highlighting “ #affordability” concerns, the admin rolled back existing or planned tariffs on coffee, beef & cabinets, for example, an acknowledgment that the duties were raising prices
The impact of the #Trump #tariffs can be more clearly seen in core goods prices, which also exclude food & energy. Before the pandemic, core goods costs typically barely rose — or even fell — each year, but last December they were 1.4% higher than a year earlier. That was the largest increase, outside the pandemic, since 2011.
#delusional #economy #inflation #CostOfLiving #affordability #recession #trumpcession #FactCheck #TrumpLies
Alberto Cavallo, an economist at Harvard & the author of a study on the impact of #tariffs [stupidly] cited by #Trump in his op-ed, has found that Trump’s tariffs have boosted overall #inflation by roughly three-quarters of a percentage point.
#delusional #economy #CostOfLiving #affordability #recession #trumpcession #FactCheck #TrumpLies
@Nonilex he destroys everything he touches
yep & all that destroyed because GOP losers can't stand prosperity... SIGH!!!!
@Nonilex Yeah, it's a miracle some people can still afford heat and groceries
