What Is The State Of The U.S. Economy? | Velshi & Ruhle | MSNBC



all right welcome back to belching rule right now President Trump is getting ready to deliver his second State of the Union address but to a much different house chamber than last year for one thing he's going to have Democratic House Speaker Nancy Pelosi sitting right behind him a house divided the White House says he has been busy with his Sharpie making final edits and will be hailing the quote booming economy this weekend he called it quote maybe the best economy we have ever had in the history of our country now we'll be the first to celebrate a very strong economy that we do have but we will be right here telling you right now as we do every day he's lying this is not the best economy in US history so our question to the president is why lie it's a push/pull economy that's good on some levels and there are other things that are problematic this is good there were three hundred and four thousand net new jobs created in January by any standard that's good that number may get adjusted but the point is even if it 150 or 200,000 we'd probably say it's good it's on the right side it's a hundred straight months of job growth okay but that's what you have to stick with a hundred straight months right to the best of my knowledge two years in office does not make correct 100 months so the president likes to say he turned the economy around at night he didn't run didn't he didn't wreck it there were jobs growing for a hundred months and they continue to grow under him and it grew and they grew at a faster pace look he's a tremendous salesman when it comes to the economy deregulation has been a positive for businesses and the fact that he has been so clear that those pro-business that was a positive for small businesses and big business going out there and hire he's gonna tell – no 2018 saw 2.7 million net new jobs created pretty good we've seen that number I think most recently in 2015 so he's going to tell you it's better than ever before it was actually that good under Obama but this he'll talk about and we're happy that jobs are being created but this is really where the rubber hits the road right wages people don't care if they're more jobs they want to know are their wages going up we've got ample jobs in this country the president could talk down to both sides of his mouth he says Mexicans they're stealing all the good jobs while at the same time we have lots of good open ones yes we have lots of open jobs we don't have jobs that K people that's money to sort the benefits or whatever the case is so we've seen a 3.2 percent increase in wages again when you adjust for inflation it's less than that but that seeing a numbers with a 3 in front of it's pretty good this is the largest increase since 2008 so we hit the right moment in a cycle because that's what has been lagging and the fact that there's a catch-up that is a big positive this is industrial production this is actually one that I really like when you are on the highway and you see more trucks driving or you live at Newark or Long Beach or places like that or Houston and you see a lot more trucking activity or you see smokestacks and and and things being built this is the measure of everything that we produce in America and that was up 4 percent in December annually which means compared to December before that that's the biggest increase in output since 2014 again I remind you Barack Obama was in office in 2014 so this has been done before but this was a campaign promise for the president he was saying I am putting you back to work Manufacturing is coming back in the United States and you're seeing this delivered because even if it was in messaging right if you talk to people during the Obama administration fortune 500 CEOs they would say we did not feel like President Obama was business friendly he was friendly to new tech and new tech isn't hiring manufacturing but I still will remind you that in 2014 Obama did have a better number than this so yeah the issue we've got is not that it's bad it's that Donald Trump will keep on telling you no one's ever done it since him ok here's the problem that stock market was down 6.2 percent in 2018 that's a baddy that's the biggest annual decline since 2008 a baddy yeah that's a bad ii don't be sassy told you 2008 remember what happened 2008 we had a recession that's the worst per stock market performance since that we've had a good January since then but really a lot of this remember the first eight months nine months ten months of 2018 were pretty good and then then the trade war stuff started kicking in the bad stuff with China and the fight with the central of the Federal Reserve and remember the president has said over and over look at your 401ks look what I'm delivering for you we'll think about this you had record tax cuts massive buybacks that's what companies did once they got the tax cut and still here's your here's your rock market lay here look here's your here's your tax cuts okay a corporate buyback what you said this probably every day I think I must have told you in commercial breaks you say it all the time you don't need to keep on saying see is that when he says to me in the commercial break what's gonna happen man tell me what Stephanie said was going to happen is what happened you give companies all this money back the argument was it was going to raise wages by four thousand dollars a household you told everybody this is gonna happen and listen I am NOT saying that stock buybacks are bad they're not inherently bad they actually make your 401k go up as well if you are the CEO of a company you make a decision I've got this cash on hand where's the best place for me to deploy it the answer might be for you well it's stock by ranch that's what I want to do the problem is the government gave this massive tax cut to corporate America and they told us corporate America is going to spend this money investing right hiring plants more people higher wages increasing wages and that's not what you said day after day it's going to be buybacks and that's where it is a trillion dollars went into into buybacks I want to just point out one more oh here we go home sales down ten percent in December compared to last year there are a couple reasons for this but interest rates have been going up after something that's been expected for a long time and that makes it less attractive to buy a house we are also seeing people putting their houses on the market because of the state and local taxes that came in from the from the tax cuts and we've got a you know we got a slowing economy or talk about a slowing economy so that's the push-pull you see a strong stock market in January but if you're trying to sell your house this is a problem if you're buying a house it's becoming a very good market now the President had made the argument he sees GDP under under his administration above 3% he thinks it could be four five six percent that is not what we're seeing but what we're really seeing is an exaggeration of Obama's economy which as we could say all day long was good but it left out a huge chunk of this country the economy the president Trump has delivered is that same economy even more exact that's right the same problems that existed there the inequality has grown I will give this to to President Trump it's not just happening in America without an equality is growing all over so again I just we just want to put in perspective it's not a bad economy it's not the best economy it's a push bullet on historically speaking but around the world especially when you factor in the slow down the United States does look very good compared to other countries but if the president says to tonight I have delivered a great economy such a turnaround for all the American people we're here to tell you it's not serving all the American people hey MSNBC fans thanks for checking out our YouTube channel subscribe by clicking on that button down there and click on any of the videos here to watch the latest interviews and highlights you can get more MSNBC for free every day with our newsletters just visit msnbc.com slash newsletters to sign up now




Comments
  1. He had help from Obama. Unfortunately I think he will be re-elected and be like Busch early in his second term, when the recession hit. Most of the money is in the hand of the wealthy. We saw layed off government workers unable to pay rent or spend for food. The only boat the tax has lifted are the multi-million yachts.

  2. We've been on a Monopoly economy for ages. Just like the game Monopoly, one person ends up holding all the cash and the rest of the players end up in debt. The richest use their advantage to buy laws and litigate the little guy into oblivion while hoovering up all the available cash.

  3. Don't believe any of these numbers! Lies, all lies. Trump:All lies, and threats. Trump is threatening his own country! Trump is completely crazy, but keeps hinting at taking over the government by declaring a National Emergency. That the President is allowed to lie continuously while people just stand around and say he's lying is to go past the point that he is declaring what the emergency is, and he will take over the country to save us from the ineffective Congress. Congress has done nothing to stop Trump, because they all have the same boss, the people who are really controlling the country now. We are a country steeped in propaganda, layered in lies, completely ignorant of what has happened to the country. Sleep on Americans, and enjoy Dictator for life, Trump.

  4. Trump and many US private big and small businesses illegally hired illegal immigrants for the sole purpose of depressing wages.

  5. Trump’s full employment economy of paycheck to paycheck, underemployed, low skilled entry level wage/ debt slaves while multi billionaires reaps all the rewards of the trump corporate tax cuts which resulted in a $23 trillion national debt.

  6. Deregulation might be a positive for business profits but it is a negative for the workers and for the environment; but of course Trump's whole mentality revolves around short term fixes and the future be damned…

    More and more Americans are working in less safe workplaces and future generation will suffer from greater pollution and environmental degradation.

  7. This is Where M S N B C Drops the Ball , [ & to be Fair , Most of the Main Stream Media ] … Our Economic Headlines Are an Illusion of Strength / Health … Monetary Policy & Bond Mkt Intervention by the F E D is Skewing the # Numbers … Cheap Credit , Debt Induced Consumption , Government Largess to Money Center Banks & Wallstreet is What is Driving the Equity Mkts & this ' Bond Bull Mkt ' … The Hard Truth is , Debt is Out of Control Worldwide , in Effect , the Largest Wealth Transfer in History … The F E D has Blinked in Response to Pressure from the Mkts & Extreme Pressure from Politicians like D Trump … The Debt Produced by Wallstreet will Not Go Away , Even If You Don't Understand it … A Multi – Generational Adjustment is Coming … These Crooks in Washington Could … Stop it , but they Won't … Because its Good for them & the Banksters / Fraudsters , they Protect … Stagflation is the End – Game & Austerity , Debt – Slavery & high % rates will be the lasting Legacy of All this Maleficence … The Evidence is Everywhere & Easy to Find the Causes of it … Begs the # Question … When Will America Wake Up to this Swindle …???

  8. The economy is booming and manufacturing jobs are returning to America in droves.
    Are you liberals that dopey and blind?

  9. In two short years, Trump gave us 100 straight months of job growth and 7 years of being #1 in oil and gas.

  10. They're adding more ethanol to our gas…making it less efficient to appease the corn farmers.. πŸ˜”

  11. 'WE WILL BE THE FIRST TO CELEBRATE A VERY STRONG ECONOMY" …. you lie … you never have …. you are fake news

  12. Deregulating has also left us vulnerable in front of business' ability to circumvent decency by going back to fouling the air, water, and environment, relaxing on workplace safety, physical and mental, and keep paying nothing to employees. Let's get ethics back into business. It's not just good for the majority of the people in the country, it's sustainable for the future. Trump's economy has good indicators here and there, and maybe less paperwork for small business owners, but more homeless, more people living in RVs, cars, choosing tiny houses where they can, despairing about what the future will be for their children. The main is not only a criminal, he's a menace.

  13. He deregulated (i.e., removed protections) to the detriment of the consumer's health and welfare. His short-term thinking has bequeathed future generations an unstable planet. Well done, Stephanie? Get your priorities straight: your children and grandchildren depend on you and might not remember you too fondly while they're dealing with their future environment. We need a Green New Deal to drive the economy. Embrace this new investment opportunity.

  14. You guys missed your mark, trump has done nothing but tear this country apart. I could of done better, actually anyone with a sixth grade level.

  15. TRUMP'S SCHEDULE…..7:30 AM Wake up lay in bed to watch Fox and Friends, tweet….(Executive Time Begins) …9:00 AM…….hate tweet and go back to sleep…………….12:00 PM…..wake up and eat lunch……..3:00 PM….meet with my legal council………….3:30 PM – 7:00 PM watch Fox News……….7:00 PM – 2 :00 AM…………..tweet out another rant about my greatness….and how this whole thing is a witch hunt…..πŸ‘±β€β™‚οΈ

  16. why isn't the american people not asking the question of why if the ECONOMY so strong why are there so many still living from pay check to pay check ?
    why every business in american giving pay raise since we just give them a big tax cut ?
    why type of jobs are being created ?

  17. America had the best economy during the 1950's to the 70's… when there was a marginal tax rate of 70% to 91% after your first $3 million of earnings. And corporations and big business made up a much higher percentage of the tax base.

  18. PLEASE get rid of that roaming camera nonsense. It's been getting worse and worse. Is watching the news going to end up like watching a Bourne movie? It's very distracting, and for some of us, nauseating. I don't think the majority of people who watch serious news reports or mature, intelligent commentary are the kinds who need to be over-stimulated in order to keep their attention.

  19. See , President Trump can spend 98% of his time eating Big Macs and still have a 100% better economy than Obama

  20. The more Trump Lifts the Deficit the more your REAL Money is Devalued. Trump doesn't care about how much he spends because he has no intention of repayment. This is his Lifetime Mantra, Borrow as much as you can and Repay as little as you can get away with. Look at his track record, Bankruptcy, Money Laundering, Fraud, the list is Too Long. Cheers from Michael. Australia.

  21. Hi Ali and Steph🐞.πŸ‘‹.
    Exceptional reporting, Steph and Ali.πŸ‘πŸ‘πŸ‘πŸ‘πŸ‘πŸ‘πŸ‘πŸ‘πŸ‘.
    Keep on digging, Ali and Steph.πŸ‘.
    πŸ‘‰πŸ‘‰Patience democrats, patience.πŸ‘.
    Steph's question, why lie. My answer, because he's a pathological and compulsive liar. 😁😁😁.
    Ali, "a baddy."😁😁.
    Steph and Ali have a wonderful camaraderie.πŸ‘β˜Ί.

  22. Some subhuman Democrat scum will misbehave at the SOTU. The smart money is on that savage being jew-hating Tlaib or a plus-one from these other monkeys like Omar, AOC…

Leave a Reply

Your email address will not be published. Required fields are marked *