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#1 User is offline   pepperonikkid 

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  Posted 04 January 2019 - 06:12 AM

MAGA: First Real US Household Income Gain Since 2000



https://www.americanthinker.com
By Chriss Street
January 4, 2019


Article:

President Trump's 'Make America Great Again' economic policies that favor Main Street over Wall Street just delivered a record for U.S. median household income and the first full year of higher real incomes since 2000.

The median household income hit an all-time high of $63,554 in November 2018, based on an analysis of the Census Bureau's Current Population Survey by Sentier Research. The real, after-inflation, median household income was 3.2 percent above the $61,612 for November 2017; up 5.5 percent above the $60,231 in December 2007; up 15.4 percent from $55,083 in June 2011; and 4.3 percent higher than January 2000.

Despite almost two decades of income stagnation for 99 percent of Americans, establishment economists on the left and the right have viciously attacked the Trump Administration's 'Make America Great Again' (MAGA) policies for cutting taxes, deregulating the economy, maximizing oil and gas production, ending foreign entanglements, renegotiating blatantly unfair trade deals, and slapping China with tariffs.

The Nation published an article in June warning that, 'Donald Trump's Trade Wars Could Lead to the Next Great Depression.' Progressive former senior strategist at bankrupt Bear Sterns and Lehman Brothers Naomi Prins hyperventilated that Donald Trump's attacking foreign exporting nations for using America as "the world's piggy bank" was "making the world a less stable, less affordable, and more fear-driven place."

In the same month, Never-Trump' conservatives at the Weekly Standard sneered at MAGA policies in 'Trumpenomics for Dummies.' British economist Irwin Stelzer lashed out at Trump for trying to "protect our 19th and 20th Century industries" basic industries, instead of backing "brain replacing brawn as the basis of American economic prosperity."

In response to MAGA's unorthodox economic policies that delivered big income gains and drove unemployment down to its lowest levels in almost 50 years, the Trump Administration has had to weather seven interest rate hikes based on the Federal Reserve's orthodox economic theory that wage growth must be restrained to prevent future inflation.

The Fed had no problem slashing interest rates 19 notches early in the Obama Administration, and then keeping interest rates substantially below inflation in order to create asset bubbles that drove up U.S. rents and home prices. According to an EPI study, Incomes for the top 1-percent spiked to an all-time high average of $1,316,985 in 2015, a multiple of 26.3 times the average income for the other 99 percent of Americans.

While the Federal Reserve has been trying to protect the average American from too much personal income growth, its own Inflation Expectation Rate for the next five years has actually fallen by 20 percent since President Trump took office in January 2017.

Managing Director David Hoffman of Brandywine Global Asset that manages $74 billion recently observed that before the Fed raised the U.S. policy interest rate on December 19th and crashed the stock markets, the Fed Funds target interest rate when adjusted for inflation was already above zero. He warned that the Fed's policy for the first time in a decade is "no longer broadly promotive of continued strong growth."

The Fed and critics on both the left and right have fully embraced Keynesian economic theories that argue for government using "targeted" fiscal spending and monetary credit policies to steer the U.S. economy to optimum performance. With the top "1-percenters" controlling the bureaucratic deep state over the last 40 years, they have manipulated those Keynesian "targets" to optimally enhance their own incomes.

Because MAGA economics rejects fiscal and monetary targeting as inherently corrupt, the "1-percenters" understand their entitlement is at existential risk of going away. They must fight, obstruct and slow down MAGA policies before the redistribution of income back to the 99-percent becomes overwhelmingly obvious to most American voters.


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#2 User is offline   grimreefer 

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Posted 04 January 2019 - 06:46 AM

RESIST!!!TM :tantrum:
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#3 User is online   oki 

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Posted 07 January 2019 - 12:15 PM

The charts and graphs saying how this is false will be epic.

Oki
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#4 User is offline   AntonToo 

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Posted 08 January 2019 - 01:04 PM

View Postoki, on 07 January 2019 - 12:15 PM, said:

The charts and graphs saying how this is false will be epic.

Oki


Oki, what do you THINK should be looked at when discussing comparative Median Household Income?


MEDIAN HOUSEHOLD INCOME DATA. DUH

What is the best method of presenting such volumous data? A GRAPH. DUH

...so the peculiarity is NOT why Anton keeps coming around here to put your nose to the data when it comes to macroeconomic issues, but WHY CAN'T YOU DO IT YOURSELF?


this is what it looks like in % growth

https://www.advisorperspectives.com/images/content_image/data/8f/8f1889bfaa09583f8f435cdc027bcb41.png

This is what it looks like in $ terms:

https://static.seekingalpha.com/uploads/2018/8/1/saupload_median-household-income-in-the-21st-century-nominal-and-real-estimates-200001-thru-201806.png


The article misleads in a number ways, but primarily:

1. There was obviously income growth of verying pace since 2011 when unemploymentstarted to come down from disasterous levels

2. Income growth is unremarkable in terms of the trend since 2013 - meaning data does not support something going on with income in "Trump economy" that did not happen in "Obama economy". 2017 was pretty much flat like 2016 and 2018 so far looks on par with 2014, weaker than 2015.
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#5 User is online   oki 

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Posted 08 January 2019 - 04:52 PM

View PostAntonToo, on 08 January 2019 - 01:04 PM, said:

Oki, what do you THINK should be looked at when discussing comparative Median Household Income?


MEDIAN HOUSEHOLD INCOME DATA. DUH

What is the best method of presenting such volumous data? A GRAPH. DUH

...so the peculiarity is NOT why Anton keeps coming around here to put your nose to the data when it comes to macroeconomic issues, but WHY CAN'T YOU DO IT YOURSELF?


this is what it looks like in % growth

https://www.advisorperspectives.com/images/content_image/data/8f/8f1889bfaa09583f8f435cdc027bcb41.png

This is what it looks like in $ terms:

https://static.seekingalpha.com/uploads/2018/8/1/saupload_median-household-income-in-the-21st-century-nominal-and-real-estimates-200001-thru-201806.png


The article misleads in a number ways, but primarily:

1. There was obviously income growth of verying pace since 2011 when unemploymentstarted to come down from disasterous levels

2. Income growth is unremarkable in terms of the trend since 2013 - meaning data does not support something going on with income in "Trump economy" that did not happen in "Obama economy". 2017 was pretty much flat like 2016 and 2018 so far looks on par with 2014, weaker than 2015.


And right on q you show up with what? Charts and graphs from a source/any source that backs you up.
Funny thing is the OFFICIAL numbers from B.L.S. actually shows nominal income outpacing inflation, something that never happened under your hero's tenure. Must suck to see everything you believe in get proven wrong.

Oki
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