Quote:
Originally Posted by wdmso
Empirical evidence is information that verifies the truth (that which accurately corresponds to reality) or falsity (inaccuracy) of a claim.
Empirical evidence is information acquired by observation or experimentation. Scientists record and analyze this data. The process is a central part of the scientific method.
Jim in CT detbuch clearly dont understand Empirical evidence its clear data points exist for 8 years under obama
They are no such long term data points for Trump regarding his overall impact in the economy over time and some see 1 time offers from Companys as Empirical evidence of the benefits of a certain action.. thats not how it works
I am not suggesting Trumps hasn't had an impact on the US economy(its effect are founded only on speculation)
but their is no Empirical evidence any of his legislation he has passed (aka tax cut) or just repealing every this with Obamas name on it . will have the promised out come ... we'll see in the coming years how it shakes out ... and who wins and who looses
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"Jim in CT detbuch clearly dont understand Empirical evidence its clear data points exist for 8 years under Obama"
I keep saying I give Obama some credit for helping to get the economy chugging again. Is that going too fast for you? Do you need me to sing it for you? Believe me, you don't want that.
You keep saying that under Trump, it's the rich that are benefitting more. I agree the rich benefit more. I keep asking you, didn't the rich benefit more when the stock market surged during the Obama years? Did Obama pass a law saying that the wealthy couldn't buy stocks, in order to prevent them from disproportionately benefitting from the market surge?
When the economy grows, the wealthy benefit more. Simple arithmetic guarantees that will happen, because they have a lot more to invest. You cannot stop that, and I don't see why you'd want to.
WDMSO, does it help anyone, if the wealthy don't get wealthier? That's the only question that matters if your beef is income inequality. If the wealthy all decide to stop working and stop investing, how is anyone better off?
"They are no such long term data points for Trump regarding his overall impact in the economy"
It's been a year. That's not exactly a meaningless time horizon. No one is calling for a recession anytime soon. The market has been booming since 09, so we are due for a pullback, regardless of which party I sin charge. Not many financial planners are calling for that.
Here's another question. Which party ran Congress (where laws and budgets are passed) for the last 6 years of Obama's 8 years?
" am not suggesting Trumps hasn't had an impact on the US economy(its effect are founded only on speculation) "
Wrong. It's not pure speculation. We know what the stock market is doing, we know what's happening with black unemployment and home ownership. We have empirical data to measure those things.
As to the impact of the tax overhaul, that is mostly speculative. But most fair-minded financial professionals will concede that the economy is doing well in general, because it perceives that there is a very business-friendly person in the Oval Office. There wasn't really any specific policy that was enacted until the tax overhaul. But there has been optimism that Trump would be business-friendly. That optimism, matters.
"we'll see in the coming years how it shakes out "
True. But as I said, a year isn't a worthless sample size. if the market tanked in the first year, do you expect anyone to believe that you'd be saying "hey, it's only been a year, we need to give Trump time before we can judge him"? .
we can go into a recession that isn't necessarily Trump's fault. Some things, probably many things, are beyond the control of the feds. Maybe the best Trump can do is make a recession les severe than it otherwise would be.
If Obama was POTUS in 2017, I am confident the economy would still have improved. I don't think it would have improved as much. All I can base that on, is my speculation that the optimism that the market clearly feels, at having a rabidly pro-business POTUS. The economy likes having him as POTUS. I'm not sure that can be denied.