Comment by retard_trader on 11/03/2025 at 19:39 UTC

1 upvotes, 1 direct replies (showing 1)

View submission: Thoughts on trump’s economy?

View parent comment

What happened last time lol? Biden drilled the economy for 3 years while Jerome Powell tried to keep inflation from hitting 20%?

Replies

Comment by SigumndFreud at 11/03/2025 at 22:03 UTC*

1 upvotes, 0 direct replies

Do you have a memory of a goldfish?

In 2016 Trump received a post-2008 crisis recovering economy from Obama, and instead of creating savings and reducing debt, he continued stimulus in a form of tax cuts for the rich and lobbied for low interest rates. The economy started to show signs of overheating as we started hitting labor shortages, and stock bubbles, and worsening income inequality.

Then Covid hit, catching us already at max stimulus and low interest rates, so Trump dumped even more stimulus into the economy $800b checks and $800b PPP loan program, which in turn set off the inflation, handed over an economy with 7% unemployment to Biden who with decent policy and yes also stimulus managed to get us through four years without a major downturn and keeping inflation under 7% (one of the lowest out of other western economies who also experienced high inflation during this period),

Biden handed Trump an economy with:

• Inflation finally coming down under 3%
• Record-breaking stock market.
• Solid employment numbers
• Manufacturing boom in green energy and chip manufacturing
• Projected growth of over 3% in the first quarter of 2025
• Entire Europe increasing military expenditure and set to purchase billions in arms from US companies, increasing their %GDP defense contributions.

Took Trump 2 months to wreck it with insane and incoherent tariff policy on our neighbors, and now we are anticipating a recession and a good possibility of stagflation.

• Inflation ticking up over 3%
• Crashing stock market due to uncertainty
• Unemployment numbers ticking up
• Manufacturing boom in green energy canceled because "drill baby drill" costing billions
• Projected GDP growth of -2.8 % in the first quarter of 2025
• Entire Europe increasing military expenditure, but now planning to use European weapons manufacturers, due to loss of trust in US, costing us over a trillion in trade.
• Absolutely insane (from economic standpoint) trade war with Mexico and Canada, who are deeply integrated in the North American supply chains.
• Loss of trust from our western allies, for example, German trust in US as a reliable partner is now at a historic low of 16% compare that to russia at 10% while France and UK are near 80% trust.

Thank you, but no thank you