TRUMP'S DISASTROUS ECONOMY

Stiglitz

Trump's economy is an absolute disaster according to Professor Joseph E. Stiglitz  of Columbia University.

According to Stiglitz -

1. US life expectancy, already relatively low, fell in each of the first two years of Trump’s presidency.

In 2017, midlife mortality reached its highest rate since World War II.

Millions have lost their health insurance coverage, and the uninsured rate has risen, in just two years, from 10.9% to 13.7%.

Deaths from alcohol and drug overdoses, and suicide have fast increased.

Trump gutting of regulations means that the air will be less breathable and the water less drinkable.

2. Trump's 2017 tax changes will result in tax increases for most households.



3. There was no significant change in US household’s disposable income between 2017 and 2018 (The most recent year with good data). 

The median wage of a full-time male worker (and those with full-time jobs are the lucky ones) is still more than 3% below what it was 40 years ago. 

4. There are record peacetime deficits (almost $1 trillion in 2019). 

The US had to borrow massively abroad: the most recent data show foreign borrowing at nearly $500 billion a year, with an increase of more than 10% in America’s net indebtedness position in one year alone.



5. Trump’s trade wars have not reduced the US trade deficit, which was one-quarter higher in 2018 than it was in 2016. 

The 2018 goods deficit was the largest on record. 

Even the deficit in trade with China was up almost a quarter from 2016.



6. Despite Trump’s promises to bring manufacturing jobs back to the US, the increase in manufacturing employment is still lower than it was under Barack Obama, once the post-2008 recovery set in.

Manufacturing employment is still markedly below its pre-crisis level. 

The employment rate for working-age males and females has increased less than during the Obama recovery, and is still significantly below that of other developed countries. 

The pace of job creation is also markedly slower than it was under Obama.

Many adult Americans are not counted as 'unemployed', even though they are unemployed.

7. Judging by GDP, the Trump economy falls short.

Last quarter’s growth was just 2.1%, far less than the 4%, 5%, or even 6% Trump promised to deliver, and even less than the 2.4% average of Obama’s second term. 

THE STATE OF THE UK

Keith Cormack, Hartlepool - Hartlepool People

1.  Tony Gosling  ✈ Retweeted

   Russ  🐝‏ @RussInCheshire Sep 8
   

   UK corporate law actively encourages directors to asset-strip businesses rather than invest in them over the long term We are cutting education budgets per pupil whilst every G20 country (bar USA) is increasing them: so we have too few skills, and too many low paid jobs

   14 replies .273 retweets1,344 likes

   
   

   
   
2.  Tony Gosling  ✈ Retweeted

   Russ  🐝‏ @RussInCheshire Sep 8
   

   More: The richest 10% of UK household wealth is 315 times greater than the poorest 10% of UK household wealth. In 1950 you could afford a 3 bedroom house and car in London on the equivalent household income of £25,000. Today you need £430,000.

   
   

   
   
3.  Tony Gosling  ✈ Retweeted

   Russ  🐝‏ @RussInCheshire Sep 8
   

   We sell arms to Israel (44 years in breach of UN resolutions) and Saudi Arabia (still flog women for driving and hang homosexuals) UK tax code is 17,000 pages long, custom-made to hide every possible trick for the rich to evade and avoid tax

   
   

Theresa may .honestreporting.com.

1.  Tony Gosling  ✈ Retweeted

   Russ  🐝‏ @RussInCheshire Sep 8
   

   Of our last 6 Prime Ministers, only 2 got the job by winning a majority at a general election The last 4 governments won absolute power with the vote of less than 30% of voters, and less than 25% of the electorate

   
   
2.  Tony Gosling  ✈ Retweeted

   Russ  🐝‏ @RussInCheshire Sep 8
   

   70% of new jobs since 2010 have been casual or freelance, with average earnings £16,500 below the average full-time permanent job The "minimum wage" is less than the minimum required to survive

   
   

   
   
3.  Tony Gosling  ✈ Retweeted

   Russ  🐝‏ @RussInCheshire Sep 8
   

   90% of Northern Europe's poorest regions are in the UK More members of the cabinet attended the same private school than have used the NHS in the last decade

   
   
4. 
   A well nourished Sudanese man steals maize from a starving child during a food distribution at a feeding center in Sudan in 1998. Photo by Tom Stoddart.
5. 
   
6. Russ  🐝‏ @RussInCheshire Sep 8
   

   
   Since 2010 £225bn has been cut from public spending Since 2010 the richest 1000 individuals have increased their wealth by £225bn This is supposed to be a coincidence
   
   WHO WON WORLD WAR II?
   NOVICHOK SUSPECTS - FALSE FLAG  
7. ✈

   Russ  🐝‏ @RussInCheshire Sep 8
   

   Our electoral system is designed to prevent new parties from entering it We have the greatest inequality in Europe, costing the economy an estimated £39bn per year, or £1400 per person

   
   
8.  Tony Gosling  ✈ Retweeted

   Russ  🐝‏ @RussInCheshire Sep 8
   

   We're the only European nation that doesn't own any of it's railways, water or power companies. Only 138 constituencies actually matter, because the other 500 are essentially rotten boroughs which never change hands no matter how you vote.

TRUMP'S TAX CHANGES BENEFIT KOSHER NOSTRA

Red Kosher Nostra

Trump's proposed TAX changes will not help the average American.

Taxpayers in the top 1 per cent (incomes above $730,000) will see their after-tax income increase an average of 8.5 per cent.

Those in the top 0.1 per cent will gain by 10.2 per cent.

Taxpayers in the bottom 95 per cent of the income distribution will see average after-tax incomes increase by about 0.5 per cent.

The proposals will lower federal revenues by $2.4tn over the first 10 years.

There are to be $2.6tn in cuts in taxation of corporations.

According to the US Treasury, some $2.5tn in profits of US-owned subsidiaries is parked abroad.

ft.

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How Billionaires Become Billionaires - Center for Research on Globalization

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