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Competitiveness Rank Of No. 1 Makes It Official — U.S. Economy Is Great Again

  

Category:  News & Politics

Via:  xxjefferson51  •  6 years ago  •  118 comments

Competitiveness Rank Of No. 1 Makes It Official — U.S. Economy Is Great Again
It's also yet another bit of evidence for why policies truly matter. The last time the U.S. stood atop the WEF global ranking of 140-plus countries, President Obama had just been elected. But he had yet to sign the growth-killing Dodd-Frank and ObamaCare bills, or a wasteful "stimulus" of nearly $1 trillion. For the next eight years, the U.S.' competitiveness ranking slid, pretty much until Trump was elected and reversed the slide with tax cuts, deregulation and trade renegotiations that...

S E E D E D   C O N T E N T



Competitiveness: It might not make a lot of mainstream newspapers, so let us inform you: The World Economic Forum just ranked the U.S. as the world's most competitive economy for the first time since 2008. A lot has happened since then, but mostly the U.S.' No. 1 ranking is a result of the surprise election of Donald Trump.

It's also yet another bit of evidence for why policies truly matter. The last time the U.S. stood atop the WEF global ranking of 140-plus countries, President Obama had just been elected. But he had yet to sign the growth-killing Dodd-Frank and ObamaCare bills, or a wasteful "stimulus" of nearly $1 trillion.

For the next eight years, the U.S.' competitiveness ranking slid, pretty much until Trump was elected and reversed the slide with tax cuts, deregulation and trade renegotiations that pushed U.S. GDP growth roughly 50% higher than it was under Obama.

It was a stark admission by the global group, which includes many of the world's left-leaning elite and superwealthy CEOs and entrepreneurs, of the strides made under Trump. For the record, the U.S. ranked as low as seventh place but got no higher than No. 3 under Obama.

As Breitbart.com aptly put it, "Davos just declared that America is great again."

Competitiveness: U.S. Back On Top


The WEF's members and data sets gave the U.S. a ranking of 85.6 out of 100, making it "the country closest to the frontier of competitiveness." That means basically it's the most cutting-edge economy in the world, thanks to its entrepreneurial culture, flexible and well-educated labor market, and powerful and open financial markets, which "are among the several factors that contribute to making the U.S.' innovation ecosystem one of the best in the world," the WEF said.

We would note this is no fluke. In May, we reported that the IMD Competitiveness Center in Switzerland, which ranks countries by 256 different variables for its competitiveness ranking, also put the U.S. in the world's top spot for competitiveness, ahead of Hong Kong, Singapore, The Netherlands and Switzerland. It earned the spot due to its "strength in economic performance and infrastructure."

No one should be surprised at this. What's stunning is how silent the media get when discussing the economy, at least as far as Trump's credit for the current economic boom goes.

Let's review. GDP is now averaging 3% growth since Trump entered office, but it hit 4.2% in the second quarter. The Atlanta Federal Reserve Bank's "GDP Now" estimate for the third quarter stands at 3.9%, as of Wednesday.

The Household Wealth Machine


Unemployment of 3.7% is at a half-century low, while inflation remains tame at close to 2%. Meanwhile, U.S. household net worth has soared from $95.2 trillion when Trump entered office to $107 trillion in this year's second quarter, a jump of $11.8 trillion. That's the equivalent of about $94,000 in new wealth added per household in the U.S. in under two years.

So, yes, the U.S. is plainly the world's most competitive economy right now.

Earlier this year, you might also recall, Trump traveled to Davos for the WEF's annual gathering of billionaires, CEOs, entrepreneurs and political pooh-bahs. Some warned that Trump might be met by more than a little hostility at the conference. But they were seriously disappointed.

At the time, we quoted this bit of reporting from the Daily Caller, which caught our eye. It describes what happened after Trump finished his speech.

"In a stunning moment, one by one, European titans of industry from companies like Adidas, Siemens and Bayer went around the table to thank Trump for the passage of tax cuts and the easing of corporate burdens. Almost every CEO had a new U.S.-based investment or strategic business to announce," the Daily Caller wrote.

Foreign CEOs Get It


Those were foreign CEOs, who of course know that an economically strong America is essential to the global economy. That's something the increasingly far-left Democrats and President Obama never seemed to get.

Trump's success wasn't an accident, as those Euro-CEOs' comments show. It came from very specific policies. Only the U.S. media and the Democratic Party don't understand that Trump's moves to slash regulation, reduce tax burdens and make trade rules fairer for all, have been extremely successful in resetting the U.S. growth agenda. And his ability to put two new judges on the Supreme Court who will judge by the law, not by popular politics, has helped restore the rule of law in the U.S. — one of the key elements of economic growth.

We have no crystal ball. But expansions don't die of old age. They die of mistakes. As long as Trump, Congress and the Fed minimize their mistakes, there's no reason we can't keep growing — and remain the world's top dog in competitiveness.


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XXJefferson51
Senior Guide
1  seeder  XXJefferson51    6 years ago

“Unemployment of 3.7% is at a half-century low, while inflation remains tame at close to 2%. Meanwhile, U.S. household net worth has soared from $95.2 trillion when Trump entered office to $107 trillion in this year's second quarter, a jump of $11.8 trillion. That's the equivalent of about $94,000 in new wealth added per household in the U.S. in under two years.

So, yes, the U.S. is plainly the world's most competitive economy right now.

Earlier this year, you might also recall, Trump traveled to Davos for the WEF's annual gathering of billionaires, CEOs, entrepreneurs and political pooh-bahs. Some warned that Trump might be met by more than a little hostility at the conference. But they were seriously disappointed.

At the time, we quoted this bit of reporting from the Daily Caller, which caught our eye. It describes what happened after Trump finished his speech.

"In a stunning moment, one by one, European titans of industry from companies like Adidas, Siemens and Bayer went around the table to thank Trump for the passage of tax cuts and the easing of corporate burdens. Almost every CEO had a new U.S.-based investment or strategic business to announce," the Daily Caller wrote.

Foreign CEOs Get It

Those were foreign CEOs, who of course know that an economically strong America is essential to the global economy. That's something the increasingly far-left Democrats and President Obama never seemed to get.

Trump's success wasn't an accident, as those Euro-CEOs' comments show. It came from very specific policies. Only the U.S. media and the Democratic Party don't understand that Trump's moves to slash regulation, reduce tax burdens and make trade rules fairer for all, have been extremely successful in resetting the U.S. growth agenda. And his ability to put two new judges on the Supreme Court who will judge by the law, not by popular politics, has helped restore the rule of law in the U.S. — one of the key elements of economic growth.

We have no crystal ball. But expansions don't die of old age. They die of mistakes.”

 
 
 
luther28
Sophomore Silent
1.1  luther28  replied to  XXJefferson51 @1    6 years ago
We have no crystal ball. But expansions don't die of old age. They die of mistakes.”

They also die of over extension, you did not add one of Mr. Trumps more illustrious accomplishments

Trump and the National Debt - The Balance

 

› Investing › US Economy › Hot Topics
Aug 31, 2018 - Instead of Eliminating the Debt , Trump Will Add $5.6 Trillion. Share; Flip ... Candidate Trump had two strategies to reduce the debt . ... These projections are above the 2-3 percent healthy growth rate. When growth more than that, it creates inflation. Too much money chases too few good business projects
Remember the National debt?
 
 
 
MrFrost
Professor Expert
2  MrFrost    6 years ago

The economy was great before trump took office. 

512

 
 
 
XXJefferson51
Senior Guide
2.1  seeder  XXJefferson51  replied to  MrFrost @2    6 years ago

No, it wasn’t.  But it is great now.  Trump really did Make America Great Again!  And now we are going to Keep America Great!   Trump and the GOP put America first.  🇺🇸 

 
 
 
MrFrost
Professor Expert
2.1.1  MrFrost  replied to  XXJefferson51 @2.1    6 years ago
No, it wasn’t.

800 800

 
 
 
321steve - realistically thinkin or Duu
Sophomore Guide
2.1.2  321steve - realistically thinkin or Duu   replied to  MrFrost @2.1.1    6 years ago

I can only see about half of the charts they run off the page on my computer I dont know about anyone else though. 

 
 
 
321steve - realistically thinkin or Duu
Sophomore Guide
2.1.4  321steve - realistically thinkin or Duu   replied to  XDm9mm @2.1.3    6 years ago

512

 
 
 
bbl-1
Professor Quiet
2.1.5  bbl-1  replied to  XDm9mm @2.1.3    6 years ago

The beauty of it all.  2001-2009 never existed.  Conservatism has no memory, honor or soul.

Trump takes office.  Gorsuch.  Kavanaugh.  Caravans fleeing Central America seeking hope and safety.  Red Tide sweeping the Florida beaches.  Russians.  Chopped up journalists. Stand tall--don't bend that knee.  MAGA

My gawd--its a miracle.

 
 
 
tomwcraig
Junior Silent
2.1.6  tomwcraig  replied to  MrFrost @2.1.1    6 years ago

I find it quite disingenuous that you are trying to pass off the chart as proof the economy is not Trump's.  Frankly, what the chart should be displaying is the pre-November 2008 election and the pre-November 2016 election numbers for all the categories.  Just on Consumer Confidence alone the numbers are quite telling.  On November 25, 2008, CNN Money reported that Consumer Confidence was 38 that October and 44.9 that November.  On November 29, 2016, CNBC reported that Consumer Confidence was 98.6 that October and 107.1 that November.

Now, you go to November 28, 2017, CNBC reports that the Consumer Confidence level hit its highest mark since 2000 and had increased for the 5th straight month when it hit 129.5.

 
 
 
XXJefferson51
Senior Guide
2.1.7  seeder  XXJefferson51  replied to  XDm9mm @2.1.3    6 years ago

Your post is absolutely awesome and 100% right on in every way.  Thanks for setting the record straight yet again.  jrSmiley_81_smiley_image.gifjrSmiley_79_smiley_image.gif

 
 
 
XXJefferson51
Senior Guide
2.1.8  seeder  XXJefferson51  replied to  bbl-1 @2.1.5    6 years ago

The objective is to make it so that the years 2009-2016 never existed as far as federal law, taxes, and regulations are concerned.  Too bad we can’t undo the doubling of our national debt those years, the one thing we will remember Obama for. 

 
 
 
luther28
Sophomore Silent
2.1.9  luther28  replied to  XXJefferson51 @2.1.8    6 years ago

Seems to me Mr. Trump has added approx. 2 trillion to the debt in the short term, but I suppose that is okay after all the hand wringing.

What hypocrisy.

 
 
 
tomwcraig
Junior Silent
2.1.10  tomwcraig  replied to  luther28 @2.1.9    6 years ago

Actually, Trump didn't add that much to the deficit, it was Ryan and McConnell that are to blame for that.  They have kept making empty promises while trying to please the Never-Trumpers like McCain, when they should have been trying to please the base which is behind Trump.

 
 
 
bbl-1
Professor Quiet
2.1.11  bbl-1  replied to  XXJefferson51 @2.1.8    6 years ago

I stand by my post.  Your deflection and patent 'Obama Blame' is duly noted.

Speaking of regulations...……………….which regulations?

I await.

 
 
 
Ozzwald
Professor Quiet
2.1.12  Ozzwald  replied to  tomwcraig @2.1.10    6 years ago
Actually, Trump didn't add that much to the deficit, it was Ryan and McConnell that are to blame for that.

Who signed off on it?

All 3 are responsible for the skyrocketing deficit.

 
 
 
Dulay
Professor Expert
2.1.13  Dulay  replied to  tomwcraig @2.1.10    6 years ago
Actually, Trump didn't add that much to the deficit, it was Ryan and McConnell that are to blame for that. 

So that infers that you are schooled on the differences between the budget that Trump submitted and what was passed by Congress. Please tell us all about the changes Congress made to 'bust' the budget...

 
 
 
tomwcraig
Junior Silent
2.1.14  tomwcraig  replied to  Dulay @2.1.13    6 years ago

The Omnibus was not a budget, that is the biggest problem that everyone seems to ignore.  It was an APPROPRIATIONS bill.  True Appropriations bills are individual bills where each department is actually given the money that ONLY Congress sets for them.  The Omnibus was an appropriations bill that combined almost all of the departments actual allotments in a single bill.  A budget bill is a proposal for how much each department should get at the time the appropriations process is undertaken, in other words, it is just a guideline, which is why the President is supposed to propose one.  The actual appropriations are what Congress actually decides each department gets for that year and perhaps longer depending on the rules each House has set.

 
 
 
Dulay
Professor Expert
2.1.15  Dulay  replied to  tomwcraig @2.1.14    6 years ago
The Omnibus was not a budget,

What Trump sent to Congress was titled " BUDGET OF THE U. S. GOVERNMENT A New Foundation For American Greatness Fiscal Year 2018", what the Congress CALLED it when they passed it is irrelevant. 

You're deflecting. 

Answer my question. 

 
 
 
Dulay
Professor Expert
2.1.16  Dulay  replied to  tomwcraig @2.1.14    6 years ago

512

 
 
 
Texan1211
Professor Principal
2.2  Texan1211  replied to  MrFrost @2    6 years ago

But so many Democratic Nostradamus' predicted the economy would nose dive!

Don't you remember one of the Democrats' favorite economists, Paul Krugman and hos dire predictions?

And how they are NOT coming true?

Say, isn't the Dow still above 25k?

 
 
 
MrFrost
Professor Expert
3  MrFrost    6 years ago

Remember the right complaining about the debt and the deficit for 8 year when Obama was president? Remember how they suddenly STOPPED complaining about it the day Trumpy took office?

1994 $203 $281   2.8% First Clinton budget.
1995 $164 $281   2.1%  
1996 $107 $251   1.3% Welfare   reform.
1997 $22 $188   0.3%  
1998 ($69) $113  (0.8%) LTCM crisis .
1999 ($126) $130  (1.3%) Glass-Steagall   repealed.
2000 ($236) $18  (2.3%) Surplus.
2001 ($128) $133  (1.2%) 9/11 attacks .   EGTRRA .
2002 $158 $421   1.4% War on Terror .  
2003 $378 $555   3.3% JGTRRA .
2004 $413 $596   3.4%  
2005 $318 $554   2.4% Katrina .   Bankruptcy Act .
2006 $248 $574   1.8% Bernanke  chairs Fed.
2007 $161 $501   1.1% Iraq War cost .
2008 $459 $1,017   3.1% Bank bailout .   QE .
2009 $1,413 $1,632   9.8% Stimulus Act .
2010 $1,294 $1,905   8.6% Obama tax cuts ACA .   Simpson-Bowles .
2011 $1,300 $1,229   8.3% Debt crisis .
2012 $1,087 $1,276   6.7% Fiscal cliff
2013 $679 $672   4.0% Sequester .   Government shutdown
2014 $485 $1,086   2.7% Debt ceiling .
2015 $438 $327   2.4% Defense = $736.4 b.
2016   $585 $1,423   3.1% Defense = $767.3 b.
2017 $665 $672   3.4% Defense = $812.3 b.
2018  (est) $833 NA   NA Defense = $824.7 b.
2019   (est) $984 NA   NA  
2020 (est) $987 NA   NA  

Anyone else notice a trend here? jrSmiley_10_smiley_image.gif

(And with that, I am taking some time off from here, my wife was in a serious car accident today and she is not feeling too well, (the car did not survive), see ya'll in a few days). 

 
 
 
321steve - realistically thinkin or Duu
Sophomore Guide
3.1  321steve - realistically thinkin or Duu   replied to  MrFrost @3    6 years ago

Sorry to hear it, Best wishes to Mrs. Frost and yourself.  

 
 
 
Split Personality
Professor Guide
3.1.1  Split Personality  replied to  321steve - realistically thinkin or Duu @3.1    6 years ago

Ditto, Frost, absolutely, family first.

 
 
 
Paula Bartholomew
Professor Participates
3.2  Paula Bartholomew  replied to  MrFrost @3    6 years ago

Absolutely family first.  I hope your wife recovers soon.

 
 
 
XXJefferson51
Senior Guide
3.2.1  seeder  XXJefferson51  replied to  Paula Bartholomew @3.2    6 years ago

We all agree on that.  

 
 
 
Dulay
Professor Expert
4  Dulay    6 years ago

It is also worth considering how we arrive at the scores of each of the 140 economies we measure on a yearly basis. Roughly 70% of the weighting in the index (slightly less of the actual number of indicators) originates from data supplied by international organizations such as the United Nations, the World Bank or the International Telecommunications Union. There is typically a 2-3 year lag between measurement and publication.
Does this mean that the US’ ascent can solely be attributed to the far-sighted structural reforms and innovations of its previous administration? The answer here is a very firm no: some of America’s strengths predate even that period. Likewise nor can we dismiss the efforts of the current administration: if 70% of the report’s weighting comes from hard data, the remaining 30% represents the views of America’s business leaders: if they are positive about America’s competitiveness then their views will be very much based on the here and now.

So the US 'wins' by about 2% and 30% of the rating is based on how business leaders 'feel' about the economy.

Talk about fluffing...

BTW we 'win' by 2% over Singapore which is smaller in population than NYC. Woo hoo!

 
 
 
XXJefferson51
Senior Guide
4.1  seeder  XXJefferson51  replied to  Dulay @4    6 years ago

We can always count on progressives to minimize and belittle America and her success whenever one of their own isn’t President.  

 
 
 
Texan1211
Professor Principal
4.1.1  Texan1211  replied to  XXJefferson51 @4.1    6 years ago

Isn't it amazing that some Americans are pissed off about good economic news?

 
 
 
Dulay
Professor Expert
4.1.2  Dulay  replied to  XXJefferson51 @4.1    6 years ago
We can always count on progressives to minimize and belittle America and her success whenever one of their own isn’t President.  

I can always count on YOU to insist that any and every attempt at citing FACTS about YOUR posits are an affront on America. 

 
 
 
Dulay
Professor Expert
4.1.3  Dulay  replied to  Texan1211 @4.1.1    6 years ago

Which Americans would that be Tex? 

 
 
 
Texan1211
Professor Principal
4.1.4  Texan1211  replied to  Dulay @4.1.3    6 years ago

The very same people voicing any doubts or displeasure with the actual numbers, or the ones trying to say it is all because of Obama.

 
 
 
Texan1211
Professor Principal
4.1.5  Texan1211  replied to  Dulay @4.1.3    6 years ago

Have you read the posts listed here?

 
 
 
Dulay
Professor Expert
4.1.6  Dulay  replied to  Texan1211 @4.1.4    6 years ago
The very same people voicing any doubts or displeasure with the actual numbers,

Again, I see no one 'voicing any doubts or displeasure with the actual numbers'. I see facts being posted that show that what was posted in the seed isn't ALL of the relevant information about the topic and what the actual numbers MEAN. 

or the ones trying to say it is all because of Obama.

Obama is sited 20 times in the seed and threads. NONE of them say it's all because of Obama. 

 
 
 
Dulay
Professor Expert
4.1.7  Dulay  replied to  Texan1211 @4.1.5    6 years ago
Have you read the posts listed here?

If you mean the comments in the threads in this seed, yes, YES I have. After reading your comment about Obama I wonder if you have...

 
 
 
Texan1211
Professor Principal
4.1.8  Texan1211  replied to  Dulay @4.1.6    6 years ago

I really can't help what you seem unable to see.

 
 
 
Texan1211
Professor Principal
4.1.9  Texan1211  replied to  Dulay @4.1.7    6 years ago

No need to voice your wonder to me--I don't care what you "wonder" about.

 
 
 
Dulay
Professor Expert
4.1.10  Dulay  replied to  Texan1211 @4.1.8    6 years ago

I didn't say I was 'unable to see', I said I don't see those kind of comments and that is because they don't exist. 

 
 
 
Dulay
Professor Expert
4.1.11  Dulay  replied to  Texan1211 @4.1.9    6 years ago

But YOU do wonder about what I've read. Got ya. 

 
 
 
Texan1211
Professor Principal
4.1.12  Texan1211  replied to  Dulay @4.1.11    6 years ago

didn't wonder because I don't care. and you can't see what you don't look for.

 
 
 
Dulay
Professor Expert
4.1.13  Dulay  replied to  Texan1211 @4.1.12    6 years ago
didn't wonder because I don't care.

You obviously DID wonder because you asked me about it...

and you can't see what you don't look for.

I DID look, that's how I know how many times Obama is cited. That vast majority of those that mentioned Obama have an X in their moniker and it WASN'T to praise him. 

 
 
 
XXJefferson51
Senior Guide
4.1.14  seeder  XXJefferson51  replied to  Dulay @4.1.13    6 years ago

Obama did virtually nothing as president that was worthy of any praise at all.  He was next to Buchanan, the worst president in American history.  

 
 
 
Dulay
Professor Expert
4.1.15  Dulay  replied to  XXJefferson51 @4.1.14    6 years ago
Obama did virtually nothing as president that was worthy of any praise at all.  He was next to Buchanan, the worst president in American history.  

Delusional. 

Obama 8th

Buchanan 43rd

Trump 44th. 

jrSmiley_86_smiley_image.gif

 
 
 
Ozzwald
Professor Quiet
4.2  Ozzwald  replied to  Dulay @4    6 years ago
So the US 'wins' by about 2% and 30% of the rating is based on how business leaders 'feel' about the economy.

How the feel about the economy after about a 2 trillion dollar bribe.

 
 
 
Thrawn 31
Professor Guide
6  Thrawn 31    6 years ago

The US economy has been getting better for years now. And of course, that really all depends on your perspective, if you are an hourly worker then you have seen little to no improvement, but for me things have been pretty damn good for going on 7 years. 

 
 
 
Thrawn 31
Professor Guide
7  Thrawn 31    6 years ago
And you know as well as I do that was effectively the work of the nearly 3 trillion dollars Congress pumped into the economy to kick start it after the housing bubble collapse and then the Federal Reserve pumping nearly 85 billion a month into the system via Quantitative Easing and keeping interest rates at zero or nearly so.

Had to be done. I never liked it, but I accepted that it was necessary, better that than to have a repeat of 1929.

And you know as well as I do that was effectively the work of the nearly 3 trillion dollars Congress pumped into the economy to kick start it after the housing bubble collapse and then the Federal Reserve pumping nearly 85 billion a month into the system via Quantitative Easing and keeping interest rates at zero or nearly so.

Yep :) Don't forget about those who were wise enough to invest in property at this time as well, that has been my biggest boon.

but unless you want those collecting garbage to be paid the same as engineers or neurosurgeons, there will always be income disparity.  It has been and will always be throughout time.

Nah, they don't need to be paid that much, just enough to afford a roof (even a shitty one) and food. Enough to keep them quiet. 

 
 

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