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#Trump started rolling out #tariffs last spring, but that is partly because many of the “Liberation Day”tariffs were withdrawn, reduced or riddled with exemptions.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
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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
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@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