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THREE CHEERS for “commies” and technocrats…

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Kiwithrottlejockey
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« on: September 16, 2017, 05:52:04 pm »


from The Washington Post....

Who's looking great again? It's not America.

A fine U.S. economy has China, France and Germany to thank — really anyone but Trump.

By SEBASTIAN MALLABY | 7:45PM EDT - Friday, September 15, 2017

French President Emmanuel Macron and German Chancellor Angela Merkel. — Photograph: Fabrizio Bensch/Reuters.
French President Emmanuel Macron and German Chancellor Angela Merkel. — Photograph: Fabrizio Bensch/Reuters.

LAST YEAR, in the wake of President Trump's election, financial markets took off on a wild sprint, apparently believing his promise to make America great again. Ten months later, the financiers are wiser: The president's immigration clampdown alarms them; his divisive response to Charlottesville appalls them. Despite the heady expectations of this past winter, there has been no sign of an infrastructure plan; few expect serious tax reform given the bungling of health-care legislation, not to mention the sidelining of Gary Cohn, the tax plan's chief Sherpa. And yet, as if by a miracle of levitation, the Standard & Poor's 500-stock index is still about a fifth above its level on the day of the election. What's happening?

The short answer is that foreign leaders have done a surprisingly good job of making foreign countries great again. From Xi Jinping's China to Emmanuel Macron's France, politicians are delivering policies that businesses want. As a result, the world economy is growing faster than at any time since the post-crisis bump of 2010. The yuan and the euro have risen sharply against the dollar. A more competitive greenback and the prospect of strong exports have supported U.S. stock prices. A Chinese communist and a French technocrat have done more for American business than Trump has.

Consider China's recent performance. In 2015 and again in early 2016, China suffered acute financial turbulence. After averaging almost 10 percent growth between 2006 and 2014 and turbocharging the global economy, China suddenly emerged as the chief risk to the world. In its headlong drive to invest in coal mines and steel plants, it created a glut that was driving foreigners out of business. In its faltering experiments with financial modernization, it allowed cracks to appear in its currency controls: Well-to-do Chinese families were rushing to buy anti-dictator insurance in the form of real estate in Los Angeles or London. The government's war chest of foreign currency reserves shrunk by about $1 trillion as it desperately bought back yuan to offset capital flight.

In the past 18 months, however, China has restored calm. Last year the government ordered coal mines to cap production at 276 days; steel output was also cut, and producers the world over have profited from recovering prices. Meanwhile, authorities have put a stop to capital flight, using dictatorial powers to crush purchases of anti-dictator insurance. The process has not been pretty, but capital flight has ended and the yuan has recovered. Any company connected to China's global supply chains is breathing more freely.

Now consider the good news from Europe. Before France's spring elections, half the electorate supported business-unfriendly candidates of the far right and left. That polarization allowed Macron to power through the middle and seize the prize of the presidency, which he is now using to advance much-needed liberalization of hiring and firing. The challenge of labor-market reform has defeated other French leaders, but Macron is determined. He means to push through the reforms by decree, and he has persuaded two of the three main labor unions to stay out of the street protests against him. France's stock market index is up by nearly a fifth in dollar terms this year.

Meanwhile, Germany and Italy, the two other major euro zone economies, are also doing well. Angela Merkel, the calm anchor of the region, is cruising toward her fourth electoral mandate in the vote on September 24th. To ease the way for Macron's difficult labor reforms, she seems likely to use her refreshed authority to relax Germany's habitual enthusiasm for budget austerity. Italy, for its part, has emerged stronger from a recent round of bank bailouts, and its populist parties have scaled back their scary promises to quit the euro. If the European Central Bank is forced to dial back its extraordinary monetary stimulus — it is running out of German bonds to purchase — the combination of a less austere Merkel and healthier European banks should be enough to sustain recovery.

The one biggish economy that's foundering is the one Trump has celebrated: Brexiting Britain. There, populists are proving politically incompetent and economically harmful. British growth, which sputtered in at an annualized rate of 1.2 percent in the second quarter, is the lowest among the major economies. The pound is weak, even against the limping dollar. Inflation has jumped. Perhaps it is time for Trump to take stock of the world and ask himself: Who's looking great — and who is not?


• Sebastian Mallaby is the Paul A. Volcker senior fellow for international economics at the Council on Foreign Relations and a contributing columnist for The Washington Post. He is the author of The Man Who Knew: The Life & Times of Alan Greenspan.

__________________________________________________________________________

Related to this topic:

 • China's invisible influence

 • Macron attempts a feat that Trump wouldn't dare

 • The economy under Trump: Plan for the worst


https://www.washingtonpost.com/opinions/whos-looking-great-again-its-not-america/2017/09/15/368e7f4e-9a17-11e7-87fc-c3f7ee4035c9_story.html
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If you aren't living life on the edge, you're taking up too much space! 

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Donald
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« Reply #1 on: September 16, 2017, 05:59:16 pm »

Yes..I agree..America is great again...Trump doing a very good job😜
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Kiwithrottlejockey
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« Reply #2 on: September 16, 2017, 06:22:40 pm »


Trump is very lucky that a commie and a technocrat have managed to improve the American economy to overcome the ineptitude of the Trump administration.

Imagine how shit-hot the American economy would be doing if it was actually presided over by commies and technocrats instead of that useless cunt, Donald Trump?

See....that's how you make America Great Again....put commies and technocrats in charge.
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Donald
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« Reply #3 on: September 16, 2017, 07:34:32 pm »

...where's the evidence??


Ktj..."Imagine how shit-hot the American economy would be doing if it was actually presided over by commies and technocrats instead of that useless cunt, Donald Trump?"


...yeah like Venezuela?
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Kiwithrottlejockey
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« Reply #4 on: September 16, 2017, 08:01:31 pm »


Face facts.....the Trump administration is totally useless.

The Trump administration cannot even get any worthwhile legislation passed.

Thanks to a commie president and a technocrat president elsewhere in the world, the American economy is doing okay.....for now.

No thanks to that stupid, useless RETARD Trump, though.
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Donald
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« Reply #5 on: September 16, 2017, 10:14:23 pm »

...well for christs sake...don't let the facts get in the way of your good (fake) news story😉
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Kiwithrottlejockey
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« Reply #6 on: September 19, 2017, 01:46:04 am »


Yep.....you're full-of-shit....as usual.
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If you aren't living life on the edge, you're taking up too much space! 
Im2Sexy4MyPants
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« Reply #7 on: September 19, 2017, 06:18:55 am »

talking about shit ktj
shit has a bigger IQ than you
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Are you sick of the bullshit from the sewer stream media spewed out from the usual Ken and Barby dickless talking point look a likes.

If you want to know what's going on in the real world...
And the many things that will personally effect you.
Go to
http://www.infowars.com/

AND WAKE THE F_ _K UP
Donald
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« Reply #8 on: September 19, 2017, 06:24:18 am »

Sexy...."talking about shit ktj
          shit has a bigger IQ than you"


...yeah...but it don't stink as much💩
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Im2Sexy4MyPants
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« Reply #9 on: September 21, 2017, 07:24:28 am »

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Are you sick of the bullshit from the sewer stream media spewed out from the usual Ken and Barby dickless talking point look a likes.

If you want to know what's going on in the real world...
And the many things that will personally effect you.
Go to
http://www.infowars.com/

AND WAKE THE F_ _K UP
aDjUsToR
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« Reply #10 on: September 21, 2017, 10:30:23 am »

Plus, if read about Marx's life, he was a dickhead 😂
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aDjUsToR
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« Reply #11 on: September 21, 2017, 10:33:40 am »

Trump

Jobs up
ISIS cleaned up
Economy up
Energy costs down

Yep useless 😁
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Im2Sexy4MyPants
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« Reply #12 on: September 21, 2017, 08:13:47 pm »

Plus, if read about Marx's life, he was a dickhead 😂

He really looks like a dickhead and a bum who needs a shave a haircut and a wash  Grin
Report Spam   Logged

Are you sick of the bullshit from the sewer stream media spewed out from the usual Ken and Barby dickless talking point look a likes.

If you want to know what's going on in the real world...
And the many things that will personally effect you.
Go to
http://www.infowars.com/

AND WAKE THE F_ _K UP
aDjUsToR
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« Reply #13 on: September 21, 2017, 11:40:49 pm »

"Abolish all private property" .

Yeah that's worked out real well where it's been tried hasn't it? 🙄

When you hear your leaders saying that, buy a machine gun, plenty of ammo, and a whole heap of gold and silver coins. Then run, as far away as you can. 😁
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