Also being honest why are we talking about Obama and not Trump

if a line is 10 inches long, but Trump's part is 1.5 inches

well

okay, so you're saying that historically the black unemployment rate drops after a recession?

all rates do, i just used one of the more extreme ones. unemployment goes UP during a recession, then begins to fall as economy recovers

the recession are in grey, so naturally unemployment peaks during them

by definition

We can use common sense to connect this with why Black unenployment

Obama came in during the GFC, so 1.5-2 years of his is leeward side of that, then the turning point, and now we are in the same expansion, which is beginning to turn

Why did unemployment rate drop significantly more than usual after 2008 then? And then keep dropping more than usual

Is going down

the unemployment rate went UP during the GFC, then began to drop as aggregate demand rose again

usually bank credit drives the latter

I'm heading out bye

or you can use something like hours worked in a sector

etc

But what im asking is why under trump did it drop below 7.5 percent and then keep dropping when historically its never done that

trump* not drop

Because Trump is a wizard

aggregate demand has kept going up

normally, we get a counter cyclical policy

trump was aganist t, he wants negative rates

that's a problem which will make next crash bigger, powell isn't caving on negative rates, YET, we'll see

by some measuers, 'jobs' have gone up, but 'hours worked' gone down

https://nypost.com/2020/01/06/qassem-soleimanis-dead-body-flies-coach-back-to-iran/

Okay, but what im getting at is that it was policy that kept unemployment going down right?

it's the lack of the usual countercyclical

which is policy

sort of but primarily it's because there is no headroom

when rates are already near zero, there is nowhere to cut

so since there was nowhere to cut, he went negative?

the US has not done that yet, but Trump wants it. europe has, but it doesn't fix the issue

whats the issue

monetary policy is the wrong tool, but it subsidies certain groups so we keep doing it

letting the recession happen but using fiscal policy to 'catch ' people is the sensible policy, but we get ideological fights over it, alongside some savvy economic actors that like the boon they get under monetary policy

https://foreignpolicy.com/2020/01/06/trump-administration-blocks-iran-foreign-minister-zarif-addressing-un-security-council/

Zarif shittalked Trump on Twitter and got barred.

But im still curious as to what the issue is; you're saying monetary policy is the wrong tool, but for what?

trump tax cut was really aimed at the wrong people, and the salt deduction change was dirty