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Thread: US GDP Revised Down to Anemic 2.2% Q1 2018

  1. #91
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    Quote Originally Posted by Conservatarian View Post
    Ohhhhh shit....now what are the anti American never Trumpers gunna do. Just like Bill Maher, all hoping upon hope that the America economy colapses, just so Trump doesn't get re-elected. Sick mother farkers....

    Someone tell me again...what was the highest recorded GDP whil jug ears was president?


    Economic growth for second quarter is on track to double 2017's full-year pace

    The Atlanta Fed is forecasting 4.6 percent GDP growth for the second quarter.
    If the outlook is correct, that would be exactly double the full-year 2017 rate and well ahead of the 3.1 percent increase for the same period a year ago.

    https://www.cnbc.com/2018/06/08/gdp-...e-of-2017.html
    The only way we can fairly compare Trump's, and Obama's economic policy outcomes is if they faced the same economic circumstances - which they did not. Obama stepped into office with a crashing economy, and trump inherited an economy on the rise.
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  2. #92
    Veteran Member HenryPorter's Avatar
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    Quote Originally Posted by OldGaffer View Post
    You have to pay the Russian prostitutes the big bucks to get the trickle down...
    After gas price rises and inflation, I'm a minus gain from my tax cut, I can't afford Russian hookers.
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  3. #93
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    Quote Originally Posted by roberthughey View Post
    .1 isn't much of a change.
    .1 revised DOWN from an anemic 2.3% is change....downward.

  4. #94
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    Quote Originally Posted by Conservatarian View Post
    Ohhhhh shit....now what are the anti American never Trumpers gunna do. Just like Bill Maher, all hoping upon hope that the America economy colapses, just so Trump doesn't get re-elected. Sick mother farkers....

    Someone tell me again...what was the highest recorded GDP whil jug ears was president?


    Economic growth for second quarter is on track to double 2017's full-year pace

    The Atlanta Fed is forecasting 4.6 percent GDP growth for the second quarter.
    If the outlook is correct, that would be exactly double the full-year 2017 rate and well ahead of the 3.1 percent increase for the same period a year ago.

    https://www.cnbc.com/2018/06/08/gdp-...e-of-2017.html
    I guess you missed this update


    CNBC's reliable Rapid Update, which looks at readings from top economists, sees the second quarter coming in at a healthy 3.7 percent. The New York Fed's Nowcast is tracking a more muted 3.1 percent gain.

    3.1% is far better than 2.2% but is not 4.6%.

    Remember these numbers are all pre-tariff pressures and two more scheduled Fed interest rate hikes this year.

    Plus low unemployment numbers means US Businesses are going to have to raise wages. Something they have been fighting. Rising wages, and higher interest rates will cause inflation to rise.

    Lower wages have kept a lid on inflation.

    Congress has to sign more spending bills before fiscal year September when the government runs out of money. Another Trillion added to the deficit

    the hamster wheel just keeps spinning.

    Economists call this the good times before the storm and coming recession in 2019.


    Did you get your MAGA yet?
    Last edited by DebateDrone; 15th June 2018 at 03:33 PM.
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  5. #95
    Dick with my Buzz...Try DebateDrone's Avatar
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    Even Trump's top economic adviser admits Trump's trade war could hurt the US economy
    Larry Kudlow, President Donald Trump's top economic adviser, was asked whether the president's tariffs could "jeopardize" the strong US economic growth.
    "Oh, it might, I don't deny that," Kudlow responded, but said the trade actions hadn't hurt the economy yet.

    Stephen Moore, another economist who has advised Trump, also said the tariffs were "problematic."

    Most economists expect the tariffs to be a modest drag on economic growth.
    Economists, trade experts, and investors are all worried that President Donald Trump's recent tariffs could be a problem for the US economy. Even top advisers in the Trump administration are admitting the same.

    Larry Kudlow, the president's top economic adviser, told host Chris Wallace on "Fox News Sunday" that the tariffs could undermine the economy's steady growth.

    During the interview, Wallace highlighted the strength of Friday's jobs report and asked if Trump's tariffs on steel, aluminum, and Chinese goods could "jeopardize" the progress of the labor market and economy.

    "Oh, it might, I don't deny that," Kudlow said. "You have to keep an eye on it."



    When pressed on the possibility that the tariffs could end up hurting the US, Kudlow hedged and said no harm has befallen the economy quite yet.

    "It's possible, absolutely," he said. "I don't think it has right now."

    Trump announced Thursday that the US would impose tariffs on imports of steel and aluminum from three key US allies: Canada, Mexico, and the European Union. The move immediately sparked retaliation from those partners and raised the possibility of a sustained trade war.

    Kudlow isn't the only pro-Trump economist to raise concerns about the tariffs. Stephen Moore, an economic adviser to Trump during the 2016 campaign, also suggested the tariffs pose an economic risk.

    "I do agree that this is a risk to the economy, tariffs are taxes, they will hurt American consumers, the US Chamber of Commerce says this could cost American jobs," Moore said in an interview with CNN, adding that the trade tensions are "problematic."
    Larry Kudlow admits Trump tariffs, trade war could hurt US economy - Business Insider

    Trump officials don't know how tariffs will effect the economy. It's all a big experiment.

    Tariffs alone should not be a stresser, but coupled with higher gas prices, higher interest rates, inflation and low wages this economy for middle class Americans can be tough.

    The 1% will make their money with Tax cuts, repatriation of money over seas. no pressure to invest tax dollars and stocks doing well.

    There are two economies in America.

  6. #96
    Ignorance Is Virtue BitterPill's Avatar
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    Quote Originally Posted by DebateDrone View Post
    First-quarter US GDP revised to 2.2%, vs 2.3% growth expected

    https://www.cnbc.com/2018/05/30/seco...-2018-gdp.html


    Are you still waiting for your MAGA?
    Trump's lies aside, it looks like 2% is the new norm.
    Last edited by BitterPill; 15th June 2018 at 05:24 PM.

  7. #97
    Ignorance Is Virtue BitterPill's Avatar
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    Quote Originally Posted by BDBoop View Post
    Yeah, I just read that. Campaign promise was 4%, then reality set in so he said 3%.

    Twenty-three views, no responses. Hmm.
    Trump's lie was up to 6% at one point, that and the national debt paid-off in 8 years:

    Among the great number of fantastical promises Donald Trump made on the campaign trail, one of the boldest was his claim that under his stewardship, the United States would see economic growth of up to 6 percent a year. So yuge would this boost be, Trump said, that he would be able to eliminate the national debt over a period of eight years, a feat not achieved since 1835.

    https://www.vanityfair.com/news/2017...conomic-growth
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  8. #98
    Radical Centrist BigLeRoy's Avatar
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    Quote Originally Posted by BitterPill View Post
    Trump's lie was up to 6% at one point, that and the national debt paid-off in 8 years:

    Among the great number of fantastical promises Donald Trump made on the campaign trail, one of the boldest was his claim that under his stewardship, the United States would see economic growth of up to 6 percent a year. So yuge would this boost be, Trump said, that he would be able to eliminate the national debt over a period of eight years, a feat not achieved since 1835.

    https://www.vanityfair.com/news/2017...conomic-growth
    Trump made so many purely preposterous economic claims during his campaign that it truly staggers the imagination:

    (1) Yes, he claimed he could get America to economic growth of up to 6% per year, and PROMISED at LEAST 4% per year.

    (2) Yes, he claimed he could eliminate the national debt.

    (3) He claimed Americans would get "much better and much cheaper healthcare".

    (4) He claimed he would eliminate the trade deficit, which instead has only gotten much larger under his policies, and in fact as a direct consequence of his policies.

    (5) He also absurdly claimed he would be able to revive the dying coal industry, as if we would even WANT to, if we could.


    There are probably others I am momentarily forgetting.
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  9. #99
    Radical Centrist BigLeRoy's Avatar
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    Quote Originally Posted by DebateDrone View Post
    Even Trump's top economic adviser admits Trump's trade war could hurt the US economy


    Larry Kudlow admits Trump tariffs, trade war could hurt US economy - Business Insider

    Trump officials don't know how tariffs will effect the economy. It's all a big experiment.

    Tariffs alone should not be a stresser, but coupled with higher gas prices, higher interest rates, inflation and low wages this economy for middle class Americans can be tough.

    The 1% will make their money with Tax cuts, repatriation of money over seas. no pressure to invest tax dollars and stocks doing well.

    There are two economies in America.
    The person who formerly had Larry Kudlow's job, Gary Cohn, who resigned over the tariff issue, has also been speaking out, saying that Trump's tariffs could completely wipe out the benefits of his tax cut. Which were all slanted towards the uber-wealthy, on any account----which is something that neither Gary Cohn nor Larry Kudlow would admit, of course!

  10. #100
    Radical Centrist BigLeRoy's Avatar
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    Quote Originally Posted by HenryPorter View Post
    After gas price rises and inflation, I'm a minus gain from my tax cut, I can't afford Russian hookers.
    @The Man says that Ukrainian hookers will provide all the same services, and perhaps even more, for much less. Don't be so choosy! And robot hookers might be even cheaper!
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