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Trump Administration Toying With Alternative Economic Facts


#1

Trump Administration Toying With Alternative Economic Facts

Lauren McCauley, staff writer

The Trump administration's hallmark "alternative facts" may infiltrate U.S. economic data.

The Wall Street Journal reported Sunday that the White House "is considering changing the way it calculates U.S. trade deficits, a shift that would make the country's trade gap appear larger than it had in past years."


#3

So, the story thus far of being in a Corporatist state: Install Prez by electoral votes, have favored CEO attend political meetings, stay invested in previous businesses/divest nothing, install CEO'S in departments that were in opposition to them in civilian life, and now, adjust economic matrices. Talk about stacking the deck. When Trump read 1984, he thought it was a guide, not a story.


#4

Krugman's latest column also points out that the Trump Administration is planning on a VERY rosy economic forecast and explains why that forecast is unlikely to happen. I does, however, make huge tax cuts to the wealthy look less damaging to the deficit (surprise!). Stiglitz also just had this to say: "Even more worrying was the lack of courage (of CEOs at the world economic meeting at Davos): it was clear that many of those who were concerned about Trump were afraid to raise their voices, lest they (and their companies’ share price) be targeted by a tweet. Pervasive fear is a hallmark of authoritarian regimes, and we are now seeing it in the US for the first time in my adult life."


#5

American CEOs send letter to the House to kill the "Made in America" Tax. From this mainstream media article MSN, you can bet mister Trump is all over that sort of international corporate scam. He who owns the methods of transport and travel, owns the people considered colonists or disposable employees and poor working the system.
Mister Trump is our nation signaling the threat of WWIII. That's how much I'm afraid of him. The internment compounds he's calculates adds to his fortune, IMO, are meant for all citizens, not just immigrants. Eventually built private prisons and citizen vigilante organizations after a terrorism attack somewhere.


#6

Stigliz: "Trump sees the world in terms of a zero-sum game. In reality, globalization, if well managed, is a positive-sum force: America gains if its friends and allies – whether Australia, the EU, or Mexico – are stronger. But Trump’s approach threatens to turn it into a negative-sum game: America will lose, too." The only truly bad thing that tends to occur with trade agreements is additional corporate power. That is the best thing to focus on when it comes to trade agreements. Not having any agreements will simply mean that the US will lose compared to the rest of the world. They will trade more, while we are left behind. Smart people will not want to work in the US.


#7

Keystone XL pipeline fuels are low grade specific to big freighter ship engines. Globalization as we know it is not sustainable, and the bigger it gets, the more every nation becomes more like a colony owned by whomever controls the means of transport and travel. There are 5 basic economic scales - local, regional, State, National, Global. Globalization has undermined these lesser though no less fundamental economic systems of production, distribution and providing services.


#8

After Republican Ford and Democrat Carter both lost POTUS elections in part due to high inflation and unemployment stats, voodoo economics accelerated during Wrangler Ron's Revolution when both parties resolved to never lose another election due to unfavorable economic stats.

Changing the basis and formulas for calculating many economic indicators drove wages and earned benefits into a downward spiral for the past three decades and pushed interest rates so low for so long as to enable the housing bubble that exacerbated the 2008 crash.

Recall the 2000 POTUS campaign when Dubya accused Gore of "promoting voodoo economics and fuzzy math", only to see Dubya proceed with the most egregious "voodoo economics and fuzzy math" in history...until Trump came along and will now doctor up the few stats the corporations and the DC politicians they own never got around to..

Gubmit inflation and unemployment stats have deviated so far from the actual inflation the 99% experiences (especially older Murkins) that they would be laughable if so many Murkins were not being driven into poverty as a result of them.


#9

Globalization is not just some policy. "As we know it" is a bit of a caveat, but globalization itself is not only sustainable but desirable and inevitable. The issue is how the resulting wealth is appropriated, or expropriated. What was and is unsustainable is a world in which billions lived in abject poverty while the US created a disposable economy.


#10

We used to be a creditor nation and are now a debtor nation. We used to have trade surpluses and now trade deficits for years.

Republicans have had voodoo ecoonmics for 80's, 90's, 2000's and 2010's even during the years of dem control.

Why is it when dems are in power nothing gets done and when republicans are in control they transfer all the wealth to 1% and crash the economy? and don't tell me it is all the republicans, it is time to put dems on the hook too.


#11

No, not really true about those "Gubmit" facts. In some situations, yes, they can play with them, but MOST of them are accurate at what they measure. If one compares government inflation figures to the private Billion Price Index, we see that the figures align quite closely. Different unemployment stats are figured such as U3 and U6. I believe they are reasonably well done and I am troubled when people think that most public servants are in cahoots to give false info. Further more, I don't think that "Changing the basis and formulas for calculating many economic indicators drove wages and earned benefits into a downward spiral..." had anything to do with wages and benefits "downward spiral." The stagnation of wages and benefits had to do with actual government policy decisions, not changing "formulas."


#12

I believe the plan is to crash again, the 99% of American are still hoarding too much money the corporates want for gambling. Get ready for more of the same
Every time there is a crisis, the taxpayer is called on to bail out the banks and the major financial institutions. If you had a real capitalist economy in place, that would not be happening. Capitalists who made risky investments and failed would be wiped out. But the rich and powerful do not want a capitalist system. They want to be able to run the nanny state so when they are in trouble the taxpayer will bail them out. The conventional phrase is "too big to fail."


#13

Alternative economics facts go all the way back to Pharaoh's discovery that he was a descendant of gods.

It's probably easier to identify the economics facts that stand up on their own.


#14

We have trade with other countries without the corporate trade agreements called globalization and free trade BUT NOT FAIR TRADE. The difference has to be explained to people in simple terms. However, I do believe it would be in our best interest to be more sustainable here at home i.e. building many of the parts that go into cars, airplanes and other appliances and also defense machinery.

It is pathetic that we think we can protect ourselves when we depend on China and rest of Asia for these things.

Think local, regional and national and last resort go global.


#15

and I don't mean to be an isolationist but believe all nations should be that way just not America realizing that there are some things we have to import.


#16

There is a difference between lying and distorting the data - and changing the changing the data themselves. The Federal statistics program is actually pretty well done and relies on consistent definitions that are used from one administration to the next.

While every administration will take the data and interpret it to their own advantage, this is the first administration to systematically attempt to change the data themselves (and often in ways that won't allow researchers to ever recover the truth)


#17

Well said and spot on! Thank you!

May the pins pierce the diabolical orange voodoo doll from top to bottom, side to side leaving no part untouched.


#18

"Toying with Alternative Economic Facts"....really? When have T-dump and his flying monkeys ever told the truth or state actual, verifiable facts or dealt in reality? They are all smoke and mirrors and like all despots, tyrants, and demagogues, they will crash and burn. What is tragic is that all life will suffer as a result of their calumny and subterfuge while they are up and running.


#19

The democrats enacted Dodd-Frank which helps somewhat. The republicans are working to eliminate it. We know that one party is clearly better than the other, and yet Congress is full of republicans.


#20

All they need to do to get their hands on vast amounts of cash is to end Medicare and privatize Social Security.


#21

On the other side of the aisle, liberals have spent the past 20 years implicitly (but powerfully) maintaining the myth that our deregulated capitalism is so successful that everyone is able to work, and there are jobs for all, therefore no need for poverty relief.