Donald Trump has been on a tear recently about
impeachment, but part of his defense for not wanting to be impeached, he keeps telling
us that we can’t impeach him because the economy’s doing too well. He’s been saying that for the last year, even
before impeachment was a thing during the Mueller investigation, he said, you can’t
get rid of me, if you do, the stock markets will crash. The economy will tank and God, y’all just
can’t risk that. And in the last couple of weeks, he’s been
talking about all of these wonderful economic numbers, all the economic indicators showing
that the United States is doing exceptionally well, better than we have in 50 years. In fact, he said, just this past week. But the truth is we’re actually not. And we have said this repeatedly, and I’m
going to keep saying it repeatedly because it’s important that we debunk these myths
of the booming US economy. But at this point, I’m no longer the only
one saying this. Economists are starting to warn us about the
same things. And they’re saying exactly what we hear at
Ring of Fire been saying for quite some time. Yeah, the economy looks like it’s doing well
on paper, but once you dig into these numbers, once you look at not just the stock market
and you start looking at average people, this economy is not doing good at all, economists
are telling us now. And again, the economy only looks good on
paper, but that’s also only if that paper doesn’t include all of the economic indicators
out there. Take for example this number 63,179 versus
61,526, that’s the difference, those are the median pay for the year 2018 and 1999 respectively. That is a difference of a little under $1,600. $1,600 and that is the average median income
here in the United States after 20 years, it increased by $1,600 in 20 years. That’s the main number you need to know because
that indicates a very real problem, a problem that economists actually have a word for,
stagnation. We are currently in a period of stagnation,
and we heard that term a lot in the 80s, I was barely in kindergarten at the time, and
I remember watching the news with my parents and hearing about stagnation. You heard it in the early 90s too, stagnation. What does it mean? What is it? Well, stagnation is basically a period of
economic growth that leaves out the middle class. We’re not making more money. When adjusted for inflation, we’re actually
making less money today than we were 20 years ago. But the top 1%, top five, even 10% they’re
making more money than ever. Money, hand over fist. And it’s all because of Republican policies. The stock market, yeah, it is doing great. Only on days when Donald Trump does not tweet
more than 30 times. That’s actually what analysts have found out. He tweets more than 30 times the stock market
tanks. So yeah, on paper, everything looks fine if
you ignore 90% of the country, but that is exactly what Donald Trump is doing. He’s talking about unemployment rates and
sure, those look great, but what kind of jobs are these people working? Oh, come to find out a little over 40% of
them are working jobs that actually don’t even pay a living wage. So they’re still having to apply for government
benefits because they can’t afford food and rent and all those things that other people
have to have. All people have to have, they can’t do it. They can’t afford their medications. Majority of people in this country can’t afford
an emergency of $400. The economy is not doing well and the reason
it’s important to continue debunking these talking points is because this is all Donald
Trump has. As we get closer and closer to the 2020 presidential
election, you’re going to hear him talk about how great the economy is all the time. Remember these studies, remember these numbers
I’ve given you because these are the talking points that we have to use to prove to everyone
that no, unless you’re already super rich, this economy sucks.

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100 thoughts on “Trump’s Economy Only Looks Good On Paper”

  1. Trumps' past two quarterly GDP – 1.8 and 2.0%. Poor performance. Trump predicted 4.0 – 6.0% growth. Not even close. Obamas' average was 2.3%.

  2. Hi Farron – first off thanks for your work on this channel – appreciated.

    The US economy is in free fall – BUT until you get these journalists (CNN, CNBC etc) educated into the "REAL" truth on the economy, you will never get the message across to the people that matter.

    It makes me cringe when a Republican senator, & Trump himself, spouts on about ALL the great things Trump (he) has done like "the economy is booming", "wages have risen", unemployment is low" etc. etc., when being interviewed & these narratives just get accepted without question – so the message to hard pressed Americans is "OK – I`ll just keep spending against my credit card, because Trump has my back"

    Trump will run the 2020 election on the economy – so Dems & the American people had better get clued up – before its too late.

    Keep on keeping on!!

  3. Like Humpty dumpty, no amount of wishful thinking can help the economy. As the regular folks continue to have increased health insurance, food cost, utilities, transportation, and rent. No cost of living or pay increases, and no extra money. The economy will continue to go South.

  4. I was using Statista.com and looking into this exact issue. In 1979, the furthest back their data goes, the median wage was $4.42, or $16.63 when adjust for inflation to 2018. In 2018, the median wage was 14.99. In 39 years, the median wage lost 1.64 per hour, or a little over $3100 a year. "The economy is booming" is not the phrase I would use, "the economy is robbing people" would be a better choice.

  5. Trump has the Central Banks cornered, and is artificially pushing the inflation into the stock market. They're trapped with no where to go so they pump billions of their fake fiat money through the nighttime repo markets to temporarily keep the banks afloat. It can't last for long.
    There is a plan to reset all the global currencies and start over with a clean slate. This is in part what Q is referring to when they say Trust the Plan.
    Farron is not a believer and his plan is to continue trusting George Soros. Good luck everyone.

  6. The economy on an actual at home or local store or car lot is very slow and sad. Businesses are closing everywhere and I have never seen so many homeless people. It is heartbreaking and wrong.

  7. Trump supporters are always coming at me with how great the economy is. Then I ask them how they personally are benefiting. I usually don’t get a response.

  8. It’s just a continuation of Obama years after the collapse … he and the republicans just pulled a numbers trick … he cut taxes on corporations by like 45% which flows immediately to the bottom line or earnings per share …EPS .. walstreet values companies by applying a growth multiple to the EPS to come to a price for companies which pumps up all the indices ie the Dow Jones … and companies used the tax savings to buy back stock which goes into increasing that calculation … its real but they are manipulating markets

  9. I knew it Economy doing good only Benefit Top 1% Not for Hard working Blue Collar people Working to Provide their Families & Themselves, That's Will Pissed Everyone off they find This Truth,Trump is Helping his Buddies in Wall street Fill their Pockets with cash That's why is Indignation in Highest level Time let GOP Know is Abuse Let Rich People get Away with this If they won't do Something it's out Right to Vote this Greedy Basterd out of Office

  10. What economy? Truly a legend in his own mind. That adage "pissing on my shoes, telling me it's raining" is appropriate for this president and his cronies. Should I even refer to him as a president?

  11. Compare minimum wages for the USA and UK…

    UK (until April 2020) is £8.21 which is (based on xe.com conversion rates) $10.73 per hour.
    USA (Federal) is $7.25 per hour (equivalent to £5.51 per hour).

    In 2012 (according to https://www.gov.uk/national-minimum-wage-rates) the minimum wage was £6.19. According to https://www.nibusinessinfo.co.uk/content/national-minimum-wage-previous-rates it was in 2007 when the UK had a minimum wage comparative to the CURRENT federal minimum wage of the USA right now…

    This says the USA is well over a decade BEHIND in terms of wages as set by the federal government. I KNOW that there will be differences from state to state. But according to this page http://worldpopulationreview.com/countries/minimum-wage-by-country/ it's clear that the USA is far behind in wages set as a minimum on a central governmental level. Why can one state offer $14 as a minimum wage and not the rest? Why not use that as the benchmark as to how much it should be across all the USA? According to https://en.wikipedia.org/wiki/Minimum_wage_in_the_United_States there are already 90% of people earning more than this federal minimum wage. So what's stopping the USA setting $15 as a minimum wage…huh? Based on the "minimum wage by country" page listed above it would put the USA at the top of the list.

    This post results from some simple research that EVERY American regardless of their political sphere should be doing. If you do not see the direct benefits of what the Senate is doing in your immediate life, family, finance, rights, etc. you need to CHANGE who does the stuff in the Senate and make sure you are represented by people who work for you and not for themselves. That goes for the occupant of the White House as well…

  12. Bill Clinton had a 'good economy' in the USA in the late 90s. It didn't do jack squat to stop the GOP from impeaching him.

    Also I take the "If you remove me, the economy will tank" not as a warning, but a threat. He'll basically try and crash the economy full tail if he either is removed from office or voted out, and basically 'punish us'/take us with him when he does.

  13. Take this literally

    The GOP will let this entire world burst into MF flames before they will take responsibility for the damage they’ve done to America, as a nation.

  14. The corporate tax change has given companies tons of $$$ that they are using in a short term game to make their stock look good by upping its price. They are buying stock as fast as they can, not investing in their companies. We do not have full warehouses, consumer confidence is down, spending on big ticket items is down. Housing starts look better for the first time at mid January because multi family units and poor housing is up.

  15. Need to listen to his speech at Davos. All is well in his world! Social Security raise a whopping 1.06% while all around us the prices are increasing!

  16. Just like his last campaign glitz and glamour and a lot of showmanship without a plan for anything he promised , Trump must have been fired from Barnum and Bailey Greatest Show on Earth !

  17. Farron, here is a better word from your kindergarten days which more accurately describes what was going on the (thus was the more used word at the time) and now: Stagflation. Definition, prices (and corporate profits and upper management pay) continuing to rise and wages staying steady.

  18. Have y’all taken into account that we have entered a business revolution. Millions have opened up their own business leading to others to fill those jobs. That’s why the economy is so good. Not by Trump but the American people

  19. Because of Trump's hatred for Obama he eliminated the safe guards Obama put in place to keep the economy going strong after 9-11. Now with tariffs and other do worse business attemps trump is putting in place, will trend to collapse the economy by this year.
    Of course he will blame the Democrats for his failures of business strategies. Vote out trump, save America again.

  20. If the only indicators Trumpists want to cite are record low unemployment and high stock market numbers then we should be seeing record economic growth along with it. But we've been tracking a measly 2% growth.

  21. Farron C' MON, MSM ain't gonna report this, so thank you for doing it. Cause MSM are CORPORATIONS, benefiting from that big tax deal. So they're not reporting it…..PERIOD!

  22. This whole Trump economy is all bullshit. His policies only benefit him, and all the top wealthy donors who support him. I can't even get a job, just about any good paying job anywhere because of this scumbag in the white house.

  23. That useless lying piece of shit knows that the economy is doing horrible 60 % of jobs cant support a middle class wages our stagnated!!

  24. Stick markets will crash if we impeach him? His economy is good for the 1% him. Hes working for the 1% yu oudvyhi k somebody who got an economics degree would be good with numbers.this economy foes suck

  25. We know, we live it, we feel it, sadly, Obama's was only good on paper too, we are on life support, we need massive change now, even Yang UBI is only a baby step, Bernie wont be enough to save us, tackling healthcare and student debt, will not be enough for everyone to get their wind back…we need action now.

  26. I agree that the economy looks good on paper but there are many hidden problems and very bad distortions that will cloud the future.

  27. His economy is based solely on the successes of the last administration! I have been paying into a 401K, TSP, and a separate Money Market Account since 1979! One hundred and fifty dollars a month for more than forty years, do the math, when I decide to cash out, there will be FBI at my door.

  28. While this fool brags about the economy people on the ground are actually still broke! Sure the jobs numbers are great never mind the fact that the average American has to have two to three jobs just to stay afloat. "AFRICAN AMERICAN UNEMPLOYMENT!!!" His favorite go to, sure they may be working but, they are't making shit! Hell, if you want to get your head above water steal for a living it worked for your president.

  29. ALL ANYONE WITH HALF A BRAIN NEEDS TO UNDERSTAND, IS, HOW CAN AN ECONOMY THAT IS DOING "GREAT" NOT BE ABLE TO PAY FOR THE SCHOOL LUNCH PROGRAM, SOCIAL SECURITY,
    MEDICARE, PROVIDE ADEQUATELY FOR MILITARY FAMILIES–MANY USE FOOD STAMPS!, OR TAKE GOOD CARE OF OUR ELDERLY BOOMERS, AND OUR VETERANS.
    AS I HAVE READ SO OFTEN, IF TRUMP'S LIPS ARE MOVING, HE MUST HE LYING!!! THIS IS THE BITTER TRUTH!
    AND AS TRUMP MAKES CUTS TO SOCIAL PROGRAMS FOR TAX PAYING CITIZENS, HE INTENDS TO HAVE A BLANK CHECK FOR HANDING OUT BILLIONS TO BIG CORPORATIONS AND FINANCIAL INSTITUTIONS—THATS WHERE THE SOCIALISM IS TO BE FOUND!
    AND MANY OF THE FORTUNE 500 COMPANIES DON'T PAY ANY TAXES!!!
    AND THESE COMPANIES ARE DOWN-SIZING, MANUFACTURING IS GOING 90% AUTOMATION.
    THOUSANDS OF GOOD PAYING JOBS ARE GONE, AND WILL NEVER RETURN!

  30. Go figure. Anyone with a working brain can figure this out.
    The reason younger people can't get jobs, myself included, is because the economy just fucking sucks. Or the only jobs we can get are shitty jobs with little to no pay, no benefits, or the work conditions are terrible. Either way, there's no hope of getting anything better. And ontop of that, huge amounts of people are getting laid off, losing their livelihoods, regardless of age or profession. My cousin just got laid off at the beginning of 2020, and she was good at her job.
    Yet, republicans and older generation, they go and blame us. "oh its something with your resume" or "well its cause you aren't smiling in your profile pic" or.. and this is a personal one.. "some of your art pieces aren't appropriate. you should get rid of them." (even though theyre some of my best pieces… and i was very proud of them. until recently…)
    honestly, if an employer is throwing you away because of some stupid reason like "oh you dont smile" then thats bullshit. it should be solely based on how good our work is, regardless of the subject matter. sure, racial, sexist stuff, i understand why not.but otherwise… no. and that alone tells you theres a bigger deal going on.

    its not our fault. the vast majority of us are hard workers and would be great at the jobs we try to get. but because the economy sucks… we're stuck. period.

    so yeah… no. republicans… just shut the fuck up. Just stop. stop with the excuses and just admit youre fucking wrong and things are fucked up.

  31. Funny, trump tax cuts and great economy forced the closure of my biz and my ex wife's box, two local box shit down due to the great economy

  32. Trump thinks just because the stock market is up every thing is just great for everyone. It’s why he says the economy is the best it’s every been in the history of the country , the conman equates the stock market high with the economy for everyone. He’s part right, it’s the best it’s ever been for the rich. If anyone thinks anything is gonna trickledown I’ve never seen it yet. Voodoo economics don’t work folks, the rich keep all the money for them selves and put it in offshore accounts to avoid paying taxes on it.

  33. I worked out the numbers to go along with inflation, $61,526.00 in 1999 would NEED to rise to $96,266.96 to keep up with inflation as of December 2019. It's not stagnant, in fact according to the numbers the numbers are going backwards we're not keeping up with inflation and the wealthiest people are making a fortune off of the hard labour of everyone.

  34. The only thing holding up this 'booming' economy, is printing presses making money!!!!!! Our economy is full of shit, like Trump!!!!!

  35. If you count the people who have given up looking for a job that are living lives of despair the actual rate of unemployment is estimated at higher than 17%.

  36. Hold on to your shorts boys n girls that bubble is about explode or implode! Wow the stock market is at record levels cuz the rich get rich n the middle class n poverty class sink deeper! Let’s tax the shit outta the rich n give social security a raise! You won’t hear the crooks say anything like that! That why in 3 years Cheeto in charge has nearly double the national debt than Obama did in 8 years! I remember someone saying they wouldn’t have time for vacations or golf! Yet it has golfed n vacationed more than Obama did in 8 years n it also profited from these vacations personally! Crook in charge! I hope they he’ll he is impeached n removed or voted out cuz we can’t tolerate anymore of this crap!

  37. Again with the most ignorant argument … republicommies impeached clinton and he created a surplus. No where are you close you dumb fuckin traitor. You keep adding to the national debt. And so you traitor aid drinking fuck tard republicommies can understand … Clinton was impeached while he created a mothetfucking surplus. Not adding to the debt. Ya fucking got it? Facts .daydream all you want argue all you want it a god damn fact. Now shut the fuck up you ignorant mothetfucking unamerican republicommie traitors.

  38. Trump's administration dosent even look good on paper. In fact on paper in the history books it's going to look pretty much the disaster we all know it to be.

  39. WHAT makes you think the economy LOOKS good? USA is as bankrupt as bankrupt can be. All companies bankrupt, nobody buys american goodies on this planet. Petrodollar will be killed soon, as is usa. Amen 😉

  40. American debt is at an all time high, The American economy is like a person thinking they are doing well because they have a $ 50 000 limit on their credit card, but cant afford the repayments, and then applies for another card to try and pay off the 1st card, so even though they have the cards, they dont have the money to pay it back. If China and Japan had to sell all the American debt they own, the USA would collapse.
    #1 China $1.11 trillion

    #2 Japan $1.06 trillion

  41. There’s really only two things that are doing well:
    1. The Stock Market
    It’s doing well because Tax Cuts for the Rich has allowed share buybacks [basically, corporations buying back their own shares and cancelling them] This results in the same amount of money in the investment pool chasing fewer shares, NOT any positive effect from GDP growth. GDP is actually growing at the same rate over the last year as it did during Obamas second term, about 2.1% annualized.

    2. Unemployment
    Unemployment has been stagnant around 3.5% for quite some time now, which is 1.2% below Obama’s closing number of 4.7%. The improvement has basically been fuelled by a rapidly-escalating US government budget deficit, again, NOT any positive affect from GDP growth. You’re basically buying jobs with borrowed money.
    https://usdebtclock.org/#
    The national debt at the end of the Obama Administration was approximately $20.0 trillion. Trump has already run up $3.2 trillion of new national debt in just three years. Debt growth began escalating after the Tax Cuts for the Rich Act
    was signed into law December 2017 (as it obviously would), but the scary thing is that the debt growth has really started to go crazy lately. Since mid-June 2019, national debt is growing at what would be an annual rate of around $1.36 trillion/yr.

    If the government decided to raise taxes enough to hold the deficit at a straight $1 trillion a year, for sure unemployment would be back up to Obama’s 4.7% in no time.

    Trump’s proposed solution to this problem is to cut interest rates below zero 😱.
    I suppose the idea is to eventually declare bankruptcy?
    #45CrazyFucker

    Bottom line is: This is a straight money-grab for the wealthy.

  42. Despite this coming out McConnell, and the rest of those GOP GOONS will try to acquit trump. The reason why trump is being impeached is because he VIOLATED the Impoundment Control Act! What that means is that Congress designated money to go to Ukraine, and trump interfered with that. Congress has the power of the purse, and not even the President of the U.S. can interfere with that. That is the reason why he is being IMPEACHED!! Now I will say this, IF the Senate acquits him, they will accomplish 2 things. 1. Every member of the GOP will expose themselves as being COMPROMISED in one way shape or form by the Russians. 2. The GOP will set the following precedent, this Country will have a President, and every president AFTER trump that will AUTOMATICALLY be ABOVE THE LAW!! If the Republicans in the Senate want that on their conscience, so be it, but if they do this, they will forever be known as COWARDS, TRAITORS, and ENEMIES OF THE STATE!!!!

    As for the economy, how is it doing well, when the tax law and the trade war is FUCKING UP THE COUNTRY?!?!

  43. Keep an eye on the Repo Market madness. It started off as a $100 billion dollar problem last September. Has already grown to a $500 billion dollar problem. Will soon turn into a trillion dollar problem. Will eventually become a black hole big enough to swallow every dollar ever printed. Apocalypse Trump!

  44. Not only doesnt this economy work for everybody but the debt is at a record high $22 trillion and deficit at a record $1.2 trillion…..The public and the media needs to focus on this as well as the fact that 44% are making only 18k or less a year a figure that's not even enough to rent a apartment anywhere in America.

  45. This is the reason why Social Security and Medicare are on the chopping block if Trump gets re-elected. Plenty of Money for wars, “space force” and tax cuts for the rich but the middle class (temporary) tax cut and gutting “entitlements” will be next. Gee, Thanks Trump dick riders 😒

  46. We also have the best clean water ever ( numbers ), according to Trump . Now, according to the CDC most major cities have highly toxic water with high amounts of Forever Chemicals that are poisoning us. Big Discrepancy There , huh Donnie ! And now with you removing penalties and oversight by de- regulation you are killing us with more than your lies!

  47. Apparently, he is never going to read The Devil's Financial Dictionary! The stock market is indifferent to the whims of Dolt45!

  48. Yes, the Economy for the rich….it is the same here in the UK…..if you have money you can weather most things…..leaving the EU is going to be a disaster for most of us already struggling…

  49. When the fed temporarily stopped pouring billions into the repo marke the stock market fell. Trump keeps it pumped up. Meanwhile wages are flat.

  50. You muricans actually believed that a trust fund baby who never worked a day in his life & is well known for screwing people over actually cared about the average Joe? In that case, I've got some beach front property in Kentucky for sale 😂😂😂😂😂😂😂

  51. There’s a Madman in the Whitehouse! Wake Up Republicans this MF’er is INSANE!!! Impeach/Remove this #CriminallyStupidTraitor, NOW!!!😳

  52. In fact, it doesn't. Look at the GDP growth numbers from 2014 to 2018. What you will find is the economy is pretty much the same as Obamas. There has been a little growth, credit where it is due, but the economy isn't BOOMING like the GOP would have us believe. They shout low unemployment from the rooftops because that number is ridiculously easy to manipulate.

  53. So what you're saying is that the tens of millions of illegal immigrants who are being cracked down on aren't doing so hot, therefore the average US citizen is suffering? Pull the other one.

  54. and still the Republicans support Trump.  I have voted for Republicans but NEVER again.Republicans will sink the USDA and Putin will own.

  55. I’m getting notices from Netflix and all these other places that they’re very sorry but they have to raise what they’re charging us. Our retirements didn’t go up enough to cover the costs of everything else that’s going up. These notices are coming from the people who got HUGE tax breaks. They’re making more money than ever. They’re NOT paying taxes and yet are getting refunds into the millions.

    I’m going through everything. Netflix is going. The channels Hubby-Honey watches football on are history after the Super Bowl. We will economize and I’ve heard friends say similar things. I’m pretty sure Netflix etc. will need to live off past glory because I’m tired of them increasing prices without also increasing benefits.

  56. Sean Hannity makes $36 million a year for FOXY news being the modern-day Nazi Joseph Goebbels. In his world, the US economy is doing just great.

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