Browsed by
Tag: Trumps

Trump’s Economic Record Is Divided: Before Covid and After

Trump’s Economic Record Is Divided: Before Covid and After

Donald Trump has presided over two economies during his time in office.

In the first, which lasted until March, the economy reached historic milestones for jobs, income and stock prices. While it’s debatable whether it was the best U.S. economy ever, as the president has said, it was without question good and getting better for millions of Americans.

The second part, which arrived with Covid-19, was historically bad. It sent unemployment to depths unseen in post-Depression records before reversing itself quickly but only partially, leaving the U.S. with an outlook that’s especially hard to forecast.

The two economies will be factors driving the choices voters make in November. The reality for Mr. Trump: Many achievements of his first economy have been wiped out by the second.

The president’s economic record never fully fit the black and white story told by either his ardent fans or his furious foes. His detractors said his tax policies catered to the rich, yet poverty and inequality fell. Minorities were big beneficiaries during his first three years, though they have also been big casualties in the past seven months.

His backers note that the growth rate accelerated as Mr. Trump said it would, but it didn’t speed up as much or in the ways he projected. Blue-collar towns reaped some of the revival his trade policy aimed for, but that revival was far from complete when it was set back by the pandemic.

A lesson that became clear after a health crisis knocked the economy off the rails: One of the best ways to advance broad-based prosperity is to keep an expansion going. Good things tend to happen, especially to those typically left behind, in the late stages of long expansions. The one that ended in March was the longest recorded in U.S. history, an

Read the rest
Trump’s advisor said president’s debate performance was ‘crappy’

Trump’s advisor said president’s debate performance was ‘crappy’

  • Stephen Moore, a senior economic advisor to President Donald Trump, was filmed slamming Trump’s performance at the presidential debate last month.
  • In footage published by HuffPost, Moore said at an event in Washington organized by a pro-Trump group that Trump’s performance against the Democratic nominee, Joe Biden, was “crappy.”
  • Trump has previously praised Moore as “a great pro-growth economist and a truly fine person.”
  • Visit Business Insider’s homepage for more stories.

An economic advisor to President Donald Trump was filmed describing Trump’s performance in the presidential debate last month against the Democratic nominee, Joe Biden, as “crappy.”

Stephen Moore, whom Trump has previously described as “a great pro-growth economist and a truly fine person,” made the remark on October 2 at the Election Protection Summit in Washington, organized by the pro-Trump group FreedomWorks. HuffPost published the footage, which was obtained by Documented, a watchdog group.

“It was not a great performance by Trump,” Moore told the crowd. “In fact, I thought it was a pretty crappy performance by Trump.”

Moore also said Trump put in an “awful” performance in his first debate with Hillary Clinton, the 2016 Democratic nominee.

“Oh my God, he was so bad in that debate, just awful,” Moore said.

But he said that Trump “rallied” and “clobbered” Clinton in the next debate and that, “God willing,” that’s “what’s going to happen” at the next debate between Trump and Biden.

Moore added that he thought the election would be “really tight,” HuffPost reported.

Biden has described Trump’s performance at the debate, in which he spoke over Biden several times and made several false statements, as a “national embarrassment.” At one point during the debate, Biden told to Trump to “shut up,” and Biden later called him a “clown.”

When asked by the debate’s moderator, Chris Wallace, whether

Read the rest
Trump’s economic advisor was caught on camera slamming the president’s ‘crappy’ debate performance

Trump’s economic advisor was caught on camera slamming the president’s ‘crappy’ debate performance



Stephen Moore wearing a suit and tie: Stephen Moore. Samuel Corum/Getty Images


© Samuel Corum/Getty Images
Stephen Moore. Samuel Corum/Getty Images

  • A senior economic advisor to Trump was filmed slamming his debate performance.
  • Stephen Moore told a pro-Trump event that his performance against Biden was “crappy,” in footage published by Huff Post.
  • Moore spoke at an event in Washington organised by pro-Trump group FreedomWorks.
  • Trump has previously praised Moore as “a great pro-growth economist and a truly fine person”
  • Visit Business Insider’s homepage for more stories.

An economic advisor to Donald Trump was filmed describing his performance in the recent debate against Joe Biden as “crappy” in newly-released footage from earlier this month.

Stephen Moore, who Trump has previously described as “a great pro-growth economist and a truly fine person”, made the remarks earlier this month at the Election Protection Summit in Washington organised by pro-Trump group FreedomWorks.

“It was not a great performance by Trump; in fact, I thought it was a pretty crappy performance,” he told the crowd, in footage published by Huff Post and acquired by Wisconsin-based watchdog Documented.

Moore also said that Trump had put in an “awful” performance in his first debate with Democratic candidate Hilary Clinton in the run-up to the 2016 election.

“Oh my God, he was so bad in that debate, just awful,” Moore reportedly said at the event on October 2.

However, he added that Trump had “rallied” and “clobbered” Clinton in the next debate and that “God willing” that is “what’s going to happen” at the next debate between Trump and Biden before next month’s presidential election.

Moore added that he thought the election would be a “really tight.”

The first televised debate between Trump and Biden took place at the end of last month and received mostly negative reviews.

The 90-minute debate was characterised by repeated interruptions from Trump and

Read the rest
Sentiment Speaks: This Is What The Market Is Saying About Trump’s Re-Election

Sentiment Speaks: This Is What The Market Is Saying About Trump’s Re-Election

While reading the title of this article may cause you to make certain assumptions about what you are about to read, I can assure you that this is not a politically motivated article. In fact, politics has absolutely nothing to do with the analysis and conclusions presented herein.

I want to start with the assumption that we have spoken about so often, and that it is that social mood directs our actions in life, including our willingness to buy stocks. As Robert Prechter noted in a study he published in 2012 on this topic, “[s]ocionomic theory proposes that unconscious social mood regulates social actions.”

The basic premise is that when people feel good they engage in positive actions, and vice versa. But, that really is an overly simplistic perspective of the theory. Ultimately, it suggests that biological responses have more to do with the mass sentiment as compared to exogenous events. Rather, exogenous events are actually caused by the mass sentiment of the public. Moreover, it suggests that mass sentiment directs our stock market in addition to causing exogenous events. Therefore, viewed from this perspective, the common understanding of causation for market direction is completely opposite of that which most believe. And, this premise is supported by many studies performed over the last 30 years.

I think it is best summed up within a paper entitled “Large Financial Crashes,” published in 1997 in Physica A., a publication of the European Physical Society:

“Stock markets are fascinating structures with analogies to what is arguably the most complex dynamical system found in natural sciences, i.e., the human mind. Instead of the usual interpretation of the Efficient Market Hypothesis in which traders extract and incorporate consciously (by their action) all information contained in market prices, we propose that the market as a whole

Read the rest
Trump’s Businesses Face Debt Deadlines Amid Economic Slowdown

Trump’s Businesses Face Debt Deadlines Amid Economic Slowdown

The Trump Organization faces the prospect of paying more to borrow, getting smaller loans or selling some of its assets to manage more than $400 million of debt coming due on properties hit hard by the economic downturn.

The organization’s financial situation could become more challenging if President Trump wins re-election because of the complications, ethical quandaries and political dynamic of lending to a sitting president, according to real-estate finance executives and a lawyer who handled presidential ethics.

The Trump Organization isn’t carrying a particularly heavy debt load relative to its generally high-quality assets, and it has generated significant cash from its properties and asset sales. But the market for commercial real-estate loans is struggling.

“There’s still financing available, particularly for the right deals, but it’s definitely a more challenging environment,” said Steven Buchwald, managing director at Mission Capital Advisors, a New York-based company that helps arrange financing for commercial real-estate deals. He hasn’t worked with the Trump Organization.

Some of the Trump Organization’s properties have underperformed their lenders’ expectations.

Actual and expected cash flows

Trump International Hotel & Tower

Retail Space

Trump International Hotel & Tower

Retail Space

Trump International Hotel & Tower

Retail Space

Trump International Hotel & Tower Retail Space

Trump International Hotel & Tower Retail Space

Mr. Trump’s debt deals are likely to face more scrutiny from his political opponents if he wins a second term. Democrats have said that the debts could affect the way Mr. Trump governs. They raised the issue of the president’s finances after the New York Times reported on his tax returns and his personal guarantees of the debts he owed.

“Do you owe anybody money who is impacted by any decision you make as president of the United States?” asked California Sen. Kamala Harris, the running mate of former Vice

Read the rest