Bye Bye Obamaconomy, Hello Trumpconomy!

May 2013
15,016
13,563
Boise, ID
Fed Chairman Jerome Powell also testified this morning that the U.S. Government is on a "fiscally unsustainable path" and that the national debt is growing at a rate substantially faster than GDP. [Which kind of says the same thing-----nations simply CANNOT do that for long.]
Wa-Wa-WAIT a minute though LeRoy. Are you pretending that Donald's two trillion dollar tax cut for Lady Gaga won't automatically result in a booming GDP and additional jobs that'll more than pay for it? Cuz I understand she recently hired a sous-chef, backup limo driver, additional security guard and another wealth management advisor!
 
Jan 2016
46,394
42,326
Colorado
Wa-Wa-WAIT a minute though LeRoy. Are you pretending that Donald's two trillion dollar tax cut for Lady Gaga won't automatically result in a booming GDP and additional jobs that'll more than pay for it? Cuz I understand she recently hired a sous-chef, backup limo driver, additional security guard and another wealth management advisor!
I'd be happy to be Lady Gaga's wealth management adviser, and could provide certain other services as well!

I am, however, a TERRIBLE chef.
 
Apr 2015
12,923
2,205
Katmandu
My calculations show that 4th Quarter GDP would have to come in at 2.4% or better to make 2018 come in at better than 3.0%.

2018 3rd Quarter GDP Growth was 3.4%
2018 2nd Quarter GDP Growth was 4.2%
2018 1st Quarter GDP Growth was 2.0%

Those sum up to 9.6. Call the currently unknown 4th Quarter GDP Growth rate x, and you have [9.6 + x]/4 = 3.0, or 9.6 + x = 12.0, so if x = 2.4, we would get a 2018 growth rate of exactly 3.0%.
Q1 was 2.2% and Q4 was 2.6%, what's your calculation now?

Roll on Trumpconomy.

U.S. economy grew faster than expected in Q4

"In the fourth-quarter, U.S. gross domestic product grew at an annualized rate of 2.6%, according to the latest data from the Bureau of Economic Analysis.

Thursday’s report beat expectations, with consensus economists polled by Bloomberg looking for growth to slow to 2.2% during the final three months of the year."
 
Jan 2016
46,394
42,326
Colorado
Q1 was 2.2% and Q4 was 2.6%, what's your calculation now?

Roll on Trumpconomy.

U.S. economy grew faster than expected in Q4

"In the fourth-quarter, U.S. gross domestic product grew at an annualized rate of 2.6%, according to the latest data from the Bureau of Economic Analysis.

Thursday’s report beat expectations, with consensus economists polled by Bloomberg looking for growth to slow to 2.2% during the final three months of the year."
Yes, you got your 3.1% economic growth for 2018.

But Donald Trump PROMISED 4% economic growth, and has FAILED to deliver on that promise. He is a FAILURE.
 
Apr 2015
12,923
2,205
Katmandu
Yes, you got your 3.1% economic growth for 2018.

But Donald Trump PROMISED 4% economic growth, and has FAILED to deliver on that promise. He is a FAILURE.
Trump still has six more years to get there.

Economic growth is over 100% higher than what Obama left us with. I'll take it!
 
Jan 2016
46,394
42,326
Colorado
Trump still has six more years to get there.

Economic growth is over 100% higher than what Obama left us with. I'll take it!
He is NOT going to get there. NO ONE, and I mean NO ONE, is expecting 3% economic growth this year, Libertine. NO ONE. EVERYONE expects economic growth to SLOW DOWN, this year, AND in succeeding years.

You do NOT understand economic growth theory, and you NEVER have.
 
Apr 2015
12,923
2,205
Katmandu
He is NOT going to get there. NO ONE, and I mean NO ONE, is expecting 3% economic growth this year, Libertine. NO ONE. EVERYONE expects economic growth to SLOW DOWN, this year, AND in succeeding years.

You do NOT understand economic growth theory, and you NEVER have.
In 2016 everyone was predicting 2% growth for 2018............
 
Apr 2014
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Maryland
Yep, Trump is making a difference where it counts.

And this is only the start.
Just curious, are you aware of the debt? He is very lucky that he inherited a growing economy. It could have been worse. He could have inherited an economy that was plunging into a depression like Obama inherited. Seems the Republicans inherit better economies than they leave
 
Likes: HadEnough2
Apr 2015
12,923
2,205
Katmandu
More better that expected economic data:

"Durable goods orders unexpectedly rose in January, marking the third straight month of increases in orders, the Commerce Department said in its advance report Wednesday. New orders rose 0.4% for the month, whereas consensus economists anticipated orders to fall by the same amount. Increases for orders in December were upwardly revised to 1.3%, from 1.2%. "
 

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