From my Reuters link..
“The economy expanded at faster quarterly paces during four quarters under former President Barack Obama and in three quarters under former President George W. Bush, only to slow down afterward.”
BOOM! US economy grows 4.1%
- Thread starter tlwwake
- Start date
From my Reuters link..
“The economy expanded at faster quarterly paces during four quarters under former President Barack Obama and in three quarters under former President George W. Bush, only to slow down afterward.”
That’s probably due to consumer confidence having a greedy capitalist in the White House and slashing business regulations (im parroting that last part, I don’t know what business regulations have been slashed or what a business regulation is).
Did Clinton do anything to usher in the .com boom? Was bush to blame for fraudulent mortgage security ratings? Did obama send anyone to jail to deter it from happening again? How big are those banks that were “too big to fail?” They are bigger than we dreamed they could be in 2008.
It’s all complicated and fun to watch the arguing but the forest is going to burn when Mother Nature decides its going to burn.
Nope, 2.85%
No they calculated it quarter over quarter and annualize it. There is no Q4/Q4 rule.
Did you even read my post? I actually stated that Obama achieved 4% several times and even a 5% score. I also stated he never achieved a 3% annualized (Q4/Q4 as its measured) GDP growth rate. The problem Obama had is he was deft at following up a good score with a real clunker (sub 1%) and even had several quarters that had negative growth. Trump may do the same, but thus far the evidence hasn't been there.
Nah, I just enjoy giving you shit. Carry on...lol
The estimates for Q1 growth had to be lowered. Read the article, it even explains where some of the Q2 growth that isn’t sustainable came from lol (soybeans - tariffs)
Of course he does but that hasn’t stuck in the collective memories because of purposeful media/politician cover up through misinformation.
MAGA
Man it must suck to hate this guy. It's got to be exhausting.
Or it could just be because people are dumb and have a hard time connection causes and effects over the span of a decade?
I love my senile grandpa, but I am a strong critic of his driving.
I guess but why is that one so buried? Watch this:
@Been Jammin @syskatine @davidallen who/what caused the 2008 recession?
Yep. You have the self awareness of a block or Muenster cheese
In this analogy, your grandpa would be banging porn stars and playboy models, while creating jobs, setting record economic success for minorities and the GDP. Also, he wouldn't drive himself. Sounds like a cool mf'er to me.
I suspect that it is so buried, because mainstream democrats don't want Bill to get the blame, and mainstream republicans don't want the regulations to come back.
Partisans gonna partisan.
ok... well... What was his senile driving supposed to be analogous to? It was super unclear.
Agreed, but the same argument highlights where future growth can also come from for the next report, primarily inventories, which cost a full percentage point to this report. Its not reasonable to think inventories will stay that low or go lower, and thus that will be a contributor to a higher number in the next quarter.
You realize the economic growth was falling for 3 quarters before this, no? I know the score isn’t in your favor, but you don’t celebrate when you’re well behind lol
Well, you ain’t got shit else to do.
Jokes write themselves.
But go on...continue to lecture those that don’t work all weekend about the economy, finance, etc. while you work all weekend, live in mommy’s basement with zero savings.
WASHINGTON (AP) — President Donald Trump received positive economic news this past week and twisted it out of proportion. That impulse ran through days of rhetoric as he hailed the success of a veterans program that hasn’t started and saw progress with North Korea that isn’t evident to his top diplomat.
A week in review:
ECONOMY AND TRADE
TRUMP: “We’ve accomplished an economic turnaround of historic proportions.” — remarks Friday on a new economic report.
THE FACTS: That doesn’t square with the record. Trump didn’t inherit a fixer-upper economy.
The U.S. economy just entered its 10th year of growth, a recovery that began under President Barack Obama, who inherited the Great Recession. The data show that the falling unemployment rate and gains in home values reflect the duration of the recovery, rather than any major changes made since 2017 by the Trump administration.
While Trump praised the 4.1 percent annual growth rate in the second quarter, it exceeded that level four times during the Obama presidency. But quarterly figures are volatile and strength in one quarter can be reversed in the next. While Obama never achieved the 3 percent annual growth that Trump hopes to see, he came close. The economy grew 2.9 percent in 2015.
The economy faces two significant structural drags that could keep growth closer to 2 percent than 3 percent: an aging population, which means fewer people are working and more are retired, and weak productivity growth, which means that those who are working aren’t increasing their output as quickly as in the past.
Both of those factors are largely beyond Trump’s control.
TRUMP: “One of the biggest wins in the report, and it is, indeed a big one, is that the trade deficit — very dear to my heart because we’ve been ripped off by the world — has dropped.” — remarks Friday.
THE FACTS: Trump is correct that a lower trade deficit helped growth in the April-June quarter, but it’s not necessarily for a positive reason.
The president has floated plans to impose import taxes on hundreds of billions of dollars of foreign goods, which has led to the risk of retaliatory tariffs by foreign companies on U.S. goods.
This threat of an escalating trade war has led many companies to increase their levels of trade before any tariffs hit, causing the temporary boost in exports being celebrated by Trump.
Richard Moody, chief economist at Regions Financial, said the result is that the gains from trade in the second quarter will not be repeated.
TRUMP: “We’re having the best economy we’ve ever had in the history of our country.” — remarks Thursday in Granite City, Illinois.
THE FACTS: This is not the best the U.S. economy has ever been.
The unemployment rate is near a 40-year low and growth is solid, but by many measures the current economy trails other periods in U.S. history. Average hourly pay, before adjusting for inflation, is rising at about a 2.5 percent annual rate, below the 4 percent level reached in the late 1990s when the unemployment rate was as low as it is now.
Pay was growing even faster in the late 1960s, when the jobless rate remained below 4 percent for nearly four years. And economic growth topped 4 percent for three full years from 1998 through 2000, an annual rate it hasn’t touched since.
TRUMP: “The Canadians, you have a totally closed market ... they have a 375 percent tax on dairy products, other than that it’s wonderful to deal. And we have a very big deficit with Canada, a trade deficit.” — remarks Thursday in Peosta, Iowa.
THE FACTS: No, it’s not closed. Because of the North American Free Trade Agreement, Canada’s market is almost totally open to the United States. Each country has a few products that are still largely protected, such as dairy in Canada and sugar in the United States.
Trump also repeated his claim that the U.S. has a trade deficit with Canada, but that is true only in goods. When services are included, such as insurance, tourism, and engineering, the U.S. had a $2.8 billion surplus with Canada last year.
A week in review:
ECONOMY AND TRADE
TRUMP: “We’ve accomplished an economic turnaround of historic proportions.” — remarks Friday on a new economic report.
THE FACTS: That doesn’t square with the record. Trump didn’t inherit a fixer-upper economy.
The U.S. economy just entered its 10th year of growth, a recovery that began under President Barack Obama, who inherited the Great Recession. The data show that the falling unemployment rate and gains in home values reflect the duration of the recovery, rather than any major changes made since 2017 by the Trump administration.
While Trump praised the 4.1 percent annual growth rate in the second quarter, it exceeded that level four times during the Obama presidency. But quarterly figures are volatile and strength in one quarter can be reversed in the next. While Obama never achieved the 3 percent annual growth that Trump hopes to see, he came close. The economy grew 2.9 percent in 2015.
The economy faces two significant structural drags that could keep growth closer to 2 percent than 3 percent: an aging population, which means fewer people are working and more are retired, and weak productivity growth, which means that those who are working aren’t increasing their output as quickly as in the past.
Both of those factors are largely beyond Trump’s control.
TRUMP: “One of the biggest wins in the report, and it is, indeed a big one, is that the trade deficit — very dear to my heart because we’ve been ripped off by the world — has dropped.” — remarks Friday.
THE FACTS: Trump is correct that a lower trade deficit helped growth in the April-June quarter, but it’s not necessarily for a positive reason.
The president has floated plans to impose import taxes on hundreds of billions of dollars of foreign goods, which has led to the risk of retaliatory tariffs by foreign companies on U.S. goods.
This threat of an escalating trade war has led many companies to increase their levels of trade before any tariffs hit, causing the temporary boost in exports being celebrated by Trump.
Richard Moody, chief economist at Regions Financial, said the result is that the gains from trade in the second quarter will not be repeated.
TRUMP: “We’re having the best economy we’ve ever had in the history of our country.” — remarks Thursday in Granite City, Illinois.
THE FACTS: This is not the best the U.S. economy has ever been.
The unemployment rate is near a 40-year low and growth is solid, but by many measures the current economy trails other periods in U.S. history. Average hourly pay, before adjusting for inflation, is rising at about a 2.5 percent annual rate, below the 4 percent level reached in the late 1990s when the unemployment rate was as low as it is now.
Pay was growing even faster in the late 1960s, when the jobless rate remained below 4 percent for nearly four years. And economic growth topped 4 percent for three full years from 1998 through 2000, an annual rate it hasn’t touched since.
TRUMP: “The Canadians, you have a totally closed market ... they have a 375 percent tax on dairy products, other than that it’s wonderful to deal. And we have a very big deficit with Canada, a trade deficit.” — remarks Thursday in Peosta, Iowa.
THE FACTS: No, it’s not closed. Because of the North American Free Trade Agreement, Canada’s market is almost totally open to the United States. Each country has a few products that are still largely protected, such as dairy in Canada and sugar in the United States.
Trump also repeated his claim that the U.S. has a trade deficit with Canada, but that is true only in goods. When services are included, such as insurance, tourism, and engineering, the U.S. had a $2.8 billion surplus with Canada last year.
I know it's very localized but I have notice a significant increase in traffic, consumer shopping in Tulsa, OK.
That may be O&G DRIVEN but things are looking good from a consumer perspective
That may be O&G DRIVEN but things are looking good from a consumer perspective
a senile president should be pretty easy to outwit. And yet...
