During the Great Depression many of the parks and roades that are still here today were created. This got people Working. Infrastructure is what this Country is Crying for. So much is needed that it would keep those jobs going through the next decade. I'm Sorry the Manufacturing jobs that left are not comming back. This all started back in the late 70 with textiles. Now these companies are leaving the third workd country they fleed to only to go to countries that will give them a greater profit. Infrastructure is here those jobs can not go anywhere. It's not just skilled Labor it's drivers, laborers, companies that make the materials to be used. Jobs Jobs Jobs. Insted we get Tax Breaks for those that really don't NEED a Tax Break.
7
Let me put my cards on the table, I am not a trump fan. I think he is an incompetent ego maniac demagogue and those are the nicer things I can say about him.
However, it is hard to predict when the end will come. Even with competent presidents mistakes are made and recessions come.
The only question is when and how bad. With Trump and massive corporate welfare tax cuts on the credit card of runaway budget deficits, insane medical costs, deregulation of everything leading to another financial crisis 2007, an insane trade war etc. etc.
4
@Paul I agree. I really think that another crash is inevitable and, given the excesses that have built up, it will be far worse than 2008. The Fed will have little ammunition to combat a crisis. 40% of Americans cannot handle a $400 brake job without going into debt. China is "stimulating" its economy. The US has just given more than a trillion dollars in corporate welfare to intransigent chief executives who refuse to invest. They'd rather line their own pockets by buying back their company's stock, thus driving up the price and triggering their already excessive bonuses. At a certain break point, deficits matter. Stagflation is coming. This economy is still driven primarily by the consumer. The average middle class consumer is living hand to mouth and has no more money to spend to fuel "growth" (i.e., more unnecessary junk bought on credit cards). One day big money will decide the party's over and the markets will crash. Everybody thinks they are going to be first out the door. Good luck with that!
4
@Fellow Citizen-Thank you for your reply. Agreed, I am not as fine in detail as you but the end will come.
1
Whatever happened to the "greatest investment in infrastructure spending ever" that Trump promised ?
Trump has been so focused on our southern border that he hasn't paid any attention to improving our seaports.
He has been so focused on the Muslim ban that he hasn't paid any attention to improving our airports, public transit and railroads.
Improving our infrastructure has vast bi-partisan support. It takes sensible leadership to make it happen.
14
Always trying to paint major accomplishments of the Trump administration in a " negative " light. It is getting tiresome NY Times.
3
@Samuel T he fact is presidents have only a minor influence on the overall economy. There are booms, busts, expansions, failures and more. But bubbles happen when greed gets ahead of the curve. Or when corruption interferes with markets. The tariffs, trade wars and intimidation of markets are limiting the growth that could happen. Trade with other nations has been an engine for the past 9 years. Trump is doing everything to kill it. Look at the job growth numbers. The slow down is happening.
12
@Samuel- That's because many of his major accomplishments are negative. And ya don't gotta hear it from the NY Times. Ya can hear it from me.
5
"Faced with that uncertainty, Mr. Haberman wavered before making a long-needed investment in a new robot welder this year. He eventually went ahead with that purchase, but he has postponed other investments — lasers for steel cutting, new machining equipment, additional robot welders."
For all those who say that more money in the hands of manufacturers automatically becomes investment in new equipment and new hires, read the above quote one more time.
Businessmen invest when they see the benefit in revenue exceeding the investment cost.
They do not "invest" just because they have more money in the company bank account.
20
Now it is time to pay off the debt, increased budget deficit and trade deficits will slow down the economy.
1
@Joseph B
No, no, no ....any good republican will tell you that debt and deficits only matter when a democrat is in charge.
4
The fact is the economy is booming and the president policies are responsible for a part of it despite what the NYT thinks , the rest of the world slowed down or in a recession because it didn't follow the US lead in cutting red tape and lower taxes .
The writer seemed despondent that we are doing good and it might lead to Trump reelection ,
3
@Sindbad677 the smoke with the mirrors is beginning to clear and with that, so is the rosy economic picture that has been drawn by cooking the books, as they say. Things are not what they seem to be so hold on tight and make sure your seat belt is fastened!
All the signs are now becoming present of an economy that may very well, slip into recession before the year is out. Just say......
9
Boom. Bust. Boom. Bust. Over my 70 years the players have changes but the game remains the same. Will Trump be hurt by an economic downturn or an uptick? Yes. No. Maybe. Each answer is correct.
3
Trump did a tax cut, massive Deficit spending and goosed the economy. This was on top of multiple years of growth under Obama. So, the economy boomed.
This is called Econ 101- the Chapter on Keynesian Economics.
However, like all government spending booms, it is not sustainable.
Trump and the GOP thought that it would last long enough for them to win in 2018. And it did, but they lsot anyway on other issues.
Now it is, as many, notably Mr Krugman in these pages, predicted would happen., the Trump Viagaral Stimulus is running out of gas.
Watch, they will blame this on the fact that the Dems won the House, thus allegedly creating economic uncertainty.
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Just so we know for certain, please confirm that you hope this news may be true, not that it necessarily is, or that this "fading" isn't normal cyclical market behavior.