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
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
@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
