President Donald Trump’s message at the World Economic Forum is “America is open for business.”
Trump told the room of world and economic leaders that the America economy is booming, unemployment is down, and regulations are lax.
“America is open for business and we are competitive once again,” said Trump.
It is true that the stock market is up and more businesses are hiring. But when it comes to the question of whether President Donald Trump or former President Barack Obama is responsible for the booming economy, some folks tend to be undecided on which president should get the credit for folks getting in a position to increase their credit.
Obama, who told folks they should say “Thanks Obama” for the booming economy, believes he should get credit for the booming economy because he is responsible for setting the country on the right course by pulling the economy out of a financial strait.
Yup, that 2008 financial crisis was a pain in the ass. Folks lost their homes, had to move back home with mama and daddy, and do menial labor.
Now folks can jumped back into the job market, get a job that is compatible with their skill set, and build up their credit so they can move out of their old room in mama’s and daddy’s home.
Let Trump tell it, he should get credit for the simple fact that he is the president.
He never minds the fact that he’s only been president for a year and the gains occurring in the economy are due to the positive steps taken during former President George W. Bush’s and former President Barack Obama’s administrations.
That’s right folks. Ol’ W there gets credit too. All hell would’ve
broke loose if ol’ W didn’t sign that legislation to put in place the
Troubled Asset Relief Program (TARP) to bail out the banks.
American dollar would’ve gone down, and we would’ve been on the verge of
being like Greece.
And you don’t want the U.S. to be like Greece.
Greece's unemployment rate went above 20% and folks couldn’t get their money
out of the banks.
Greece had to get rid of its currency and switch
over to the European Union's currency. It was all messed up.
And the last thing we needed was for the American dollar to tank. W knew this. That’s why he worked with the democrats in congress to keep the economy going.
Once Obama came in, he recognized the dire situation and had sense enough to know that he shouldn’t get rid of the safe guard that his predecessor had put in place in order to pull the economy out of its financial mess.
In fact, Obama worked with congress to put other safeguards in place like the Homeowners Affordable Refinance Program (HARP) and the Consumer Financial Protection Bureau.
Trump on the other hand wants to undo everything his predecessor has done. He doesn’t understand that all of those safe guards concerning tighter regulations on the banks and ensuring that workers and consumers rights are protected are the things that build, not tear down, the economy.
You get rid of those regulations you have shit happening like the shit that happen with Wells Fargo opening up credit cards in a customer’s name without the customer’s permission.
If it hadn’t been for the Consumer Financial Protection Bureau (CFPB), Wells Fargo would’ve gotten away with their wrong.
Trump and his crew don’t like the CFPB because to them the CFPB is another example of too much government regulation and reach into the business of businesses.
As acting CFPB Director Mick Mulvaney
, who loves shutdowns, said, “Anybody who thinks that a Grump administration CFPB will be the same as an Obama administration CFPB is simply being naïve.”
And he’s right, all of those folks who think Trump is going to keep regulations in place to protect consumers are “naïve.”
Let Trump tell it, regulations are bad, m-kay. In the case of workers, if you relax the regulations companies have to follow then you end up with more folks leaving the workforce because they don’t feel safe in the environment they’re working in.
That will cause the unemployment rate to go up and more folks needing government assistance in order to get by.
Trump doesn’t see any of this though. He doesn’t understand that the rules are in place in order to ensure we don’t go back to the Great Depression days.
Although the stock market is up and more employers are hiring, how well the economy will do is dependent upon how well the workers do.
And the one thing history has shown is that when the government is pro-business and anti-worker, the economy fails in the end.