Posted on 01/26/2018 1:02:44 PM PST by SeekAndFind
Here's a prediction: You won't be hearing Donald Trump crowing about U.S. economic growth under his administration, at least not for a while.
Since the presidential campaign, Trump and his minions have been predicting that his policies would bring an increase in annual growth of better than 3% a year. They broke out the Champagne after the figures for the second and third quarter of 2017 showed annualized growth in excess of 3%.
Turns out that was premature. The first reading of real growth domestic product for the fourth quarter of 2017 was published Friday by the government's Bureau of Economic Analysis, and it shows an increase of only 2.6%. For the whole year, the increase in real GDP is 2.3%. That's better than the 1.5% growth rate in 2016, the last year of Barack Obama's second term, but only a tiny hair better than the average over Obama's full second term.
What's going to be most interesting about the latest figures is how Trump and his clique will react. I reported in May that Trump was "dreaming" if he expected sustained growth of more than 3% and explained why that was unlikely, though not impossible. After the figures came in for the second and third quarters, my email in-box and Twitter feed filled up with nyah-nyah messages from his fans, who didn't seem to understand that three months, even six months, of annualized growth of 3%-plus wasn't the same as 12 months.
This isn't surprising, coming from the average Twitter tweeter. But the triumphalism also was expressed by some more serious sources. Stephen Moore, for example. Moore is an economic fellow at the conservative Heritage Foundation, a former Wall Street Journal editorial writer, and a familiar face on TV as an economic commentator.
(Excerpt) Read more at latimes.com ...
The LA Times makes the NY Times look sane...and that is saying something..
I have no issues with you regarding their analysis. There are too many factors that affect our GDP.
However, the fact is still something we cannot avoid — the GDP for 2017 was 2.6% officially.
Whether that figure is accurate or not is subject to discussion. However, we cannot say that they did not cite their source.
I don’t know if it will be revised upward, many companies pull back at year ends and many have their year ends in December then they ramp way up in Q1. It is the pause before the next push.
Wait for the entire year GDP to be calculated, that was only Q4, the entire year is going to be over 3 pct.
Pretty impressive despite non stop negative press and three major hurricanes.
So at the risk of ad nausem, but here on FR seems to need to be repeated, “We need to post an article from a source we know to be at least reasonably reliable so we can reasonably rely on the facts, analysis, and evaluation of those facts presented.”
The growth under 45 is largely a result of renewed confidence and by removing impediments to industry by eliminating restrictive regulations. If just getting gvmt out of the way was that effective, just wait until the new policies get fully implemented.
We are still running off Obama’s FY2017 budget!!! Until Trump signs the FY2018, we will continue to run off of Obama’s last budget.
What about posting articles with opposing points of view so that knowledgeable FReepers can REFUTE them?
This is what a forum us for. Not simply to act as an echo chamber for things we all agree on, but also to learn the arguments from opposing camps so that we can point out their errors.
I reject this “echo chamber” nonsense. That right there is an attack on the Right by the Left. Why does the Right let the Left define the Right’s rule of engagement? WE know the truth. WE are right. The Left is wrong. Let’s focus on OUR objectives, not the Left’s objectives. Let’s be like Patton and ramrod through these Bolsheviks like sh#t through a goose.
Let’s focus on OUR objectives of restoring our Free Constitutional Republic knowing the Left will lie their their teeth every day and WE DON’T GIVE A %$#* what they say.
We should follow Trump’s lead. See what the liars are saying when necessary, but post your own opinions about the Leftist article and don’t use the Lying Leftist outlet as the source.
Well, I slightly part ways with you then. I support Trump and I believe on the net, he has been good for the country. But I am a critical supporter, I don’t support him when I think his policies are wrong headed. I believe there should be a robust debate in this forum... not the kind that says... Trump, right ir wrong.
Bitter losers being bitter.
They keep rooting for the economy to tank, and it’s not going to happen. Boo hoo, bitter losers.
I completely agree with you. I’m not a “Trump right or wrong” guy either. But that is not what I’m talking about.
I’m talking about FReepers using reasonably reliable sources for their posted articles.
Wait until they get the revised numbers.
Good example:
https://www.freerepublic.com/focus/f-chat/3626821/posts
“MORE FAKE NEWS FROM THE NEW YORK TIMES”
Article from a reasonably reliable source ABOUT the lies, not FROM the lying source itself.
Incompetent writer.
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