Posted on 07/27/2018 7:57:40 AM PDT by BlackFemaleArmyColonel
President Donald Trump hailed a new economic report showing the U.S. economy grew at a clip of 4.1 per cent in the second quarter, hitting a high pace not reached since 2014.
'It is indeed a big one,' Trump said. Trump said he was 'honored' by the growth figure and called it a 'great day.'
The president made an unscheduled appearance on the South Lawn of the White House, flanked by his economic advisors, to tout the news.
He promised the high growth rate was not a 'one-time' thing.
'As the trade deals come in one by one we're going to go a lot higher than these numbers and these are great numbers,' Trump said.
'These numbers are very, very sustainable. This isn't a one-time shot,' Trump said.
He also made a sunny prediction about the next quarter. The latest numbers reflect April through June.
'I think the numbers are going to be outstanding. We've accomplished an economic turnaround of historic proportions,' Trump said.
'We're on track to hit the highest annual average growth rate in over 13 years,' Trump said, predicting it could be 'substantially over 3 per cent' on an annualized basis.
Trump called it an 'American economic miracle.'
'We are the economic envy of the entire world,' Trump added, adding the world leaders compliment the U.S. economy when they talk to him.
Trump also hailed a more than $50 billion reduction in the U.S. trade deficit.
(Excerpt) Read more at dailymail.co.uk ...
Obama’s GDP fluctuated a lot. I think the 4% in 2014 was preceded by a really bad quarter.
>>Trump is such a liar. He said we’d be tired from all this winning.<<
QOTD!!! In fact I am stealing it as my tag! And I shall use it without attribution on other boards as if I invented it.
:))
>>Obama’s GDP fluctuated a lot. I think the 4% in 2014 was preceded by a really bad quarter.<<
The analysis I heard this AM said we are looking at a sustained 3% which is fantastic compared to the anemic < 2% we saw under obozo. And that was AFTER obozo cooked the books (like they did with unemployment).
IMHO, some of this growth is due to increased exports in the interim between the announcement and implementation of tariffs. The number is basically indexed and the markets know this. Q3 will be more indicative of actual trends.
BREAKING: HAWAIIAN JUDGE BLOCKS ECONOMIC GROWTH
ORDERS DECIMAL MOVED OVER IN GDP REPORT, GDP ACTUALLY GREW .41%
.......
CNN: Strong economic growth is what Putin would want.
BuzzFeed: 11 reasons we shouldn’t have strong economic growth. Number 5 will shock you.
Vice: “Strong economic growth” is a social construct. Bigot.
Vox: Strong economic growth is complicated. Here’s what you need to know.
The Root: Strong economic growth is the essence of white supremacy. Stop it.
Comey: That’s it?
Obama: What magic wand?
Hillary: What happened?
Pelosi: President Bush’s policies aren’t working.
Hey, when you come up to bat, swing for the fences.
Casey, mighty Casey, did NOT strike out.
Bases loaded, over the bleachers and outta sight.
So much winning.
CBS This Morning: Strong Growth could be too strong.(actually what that John guy said)
Gayle King: Too many people just don’t benefit from this. (Actually what she said)
In order to put the 2% vs 4% in perspective. With a constant 2% growth rate our economy will double in 36 years. With a 4% constant growth rate our economy will double in 18 years.
The market does not appear to responding well to this data today. Why is that? Fear of another rate hike?
FacePlant had a Very Bad Day yesterday.
The market has lots of mechanisms to price in the news well in advance. In this case there are estimates weeks in advance.
Same thing I said on an earlier post. Maybe Hussein had 4 percent before the obligatory downward adjustment that was on the back page 2 weeks later.
I had the same thought. Can anyone verify? Perhaps there was a quarterly area that was an outlier.
That was yesterday. FB was up slightly earlier. My questions is why are the markets down on a large Q2 uptick? All the equity markets went down on the news.
GDP is a lagging indicator
Moreover, as a lagging indicator, some question the true value of the GDP metric. After all, it simply tells us what has already happened, not what is going to happen. Nonetheless, GDP is a key determinant as to whether or not the United States is entering a recession.
https://www.moneycrashers.com/leading-lagging-economic-indicators/
Trump said the last hike shouldn’t have happened. It could cause an economic freeze.
The Fed will step in and slow it down almost for certain now.
$50 billion reduction in the deficient is not nickle dime.
Obama economy finally kicks in!
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