Just remember - 3% GDP Growth is a fantasy...
The U.S. economy grew faster than initially thought in the second quarter, notching its quickest pace in more than two years, and there are signs that the momentum was sustained at the start of the third quarter.
Gross domestic product increased at a 3.0 percent annual rate in the April-June period, the Commerce Department said in its second estimate on Wednesday. The upward revision from the 2.6 percent pace reported last month reflected robust consumer spending as well as strong business investment.
28 comments:
we're enjoying more good economic news in just under 8 months from trump than we did in 8 long, agonizing years under 0linsky.
https://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm
and people like roger can't fucking stand it.
Jane,wp,opium,hb,iddy
How is it you are so wrong so often on all things Economic?
Obama "the Lost years" averaged 1.9 %
The media tried to CONVince the voter the economy was great and Hillary was a thire term.
Great News, Corp up 8 % y/y.
The lost years ever more forgetable.
Waiving to Mr.Opie. how you doing?
2018 election results according to VICTIM ALKY, Democrats win both houses.
Thank you President Barack Obama for leaving economy in full recovery after the most massive recession since the 1929 Great Depression.
The Wall Street Journal.
Banks Send Warning Signs for Economy
Data out of the banking sector is consistent with an aging economic expansion.
By Aaron Back
Aug. 27, 2017 11:00 a.m. ET
12 COMMENTS
U.S. banks are sending signals that the country’s economic expansion is getting long in the tooth.
Being a key transmission mechanism for savings, investment and spending, the banking sector is worth watching as a barometer for the health of the overall economy. Lately it has been acting as one would expect toward the end of an expansion phase.
Most glaringly, after strong lending growth for several years, momentum clearly is slowing. In its quarterly report on the sector, the Federal Deposit Insurance Corp. found that total loans and leases by banks and other insured institutions rose by just 3.7% from a year earlier at the end of June. That is the third consecutive quarterly deceleration and is down from a 6.7% pace of growth a year ago.
I get daily reports from the Wall Street Journal directly.
Roger Amick said...
Thank you President Barack Obama for leaving
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yes skeets.
your finest moment was donald trump's inauguration day.
so yes, thanks for leaving, you despicable piece of shit.
So contract, temp, and crappy part time jobs are full recovery to headbaked.
Once again he proves ignorant in economics.
Trump eliminating all the stupid obama red tape is allowing for more growth.
Banks Send Warning Signs for Economy
Data out of the banking sector is consistent with an aging economic expansion.
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yeah, because as everyone who's paying attention knows...credit risk is returning.
derp.
Big Bank Bosses Are Dumping Their Stocks As "Credit Risk Ricochets Back"
So who is the sucker at this table?
Dick Bove gets it... "banks won't be able to hold on to the earnings boost they get from higher interest rates. The hole in the bottom of the piggy bank, as he described it, would be that higher rates would also hurt the value of financial assets held by the bank, thus leaking out any benefits from increasing borrowing costs."
http://www.zerohedge.com/news/2017-08-29/big-bank-bosses-are-dumping-their-stocks-credit-risk-ricochets-back
"I get daily reports from the Wall Street Journal directly."
Directly, lol.
Directly, lol.
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yeah, straight from the crypts of mr. dow and mr. jones.
directly, LOL.
well, now we know the alky's problem -
"A man's admiration for absolute government is proportionate to the contempt he feels for those around him."
—Alexis de Tocqueville (1805-1859)
Did someone think I was wrong about the current GDP growth?
It's actually a little shy of what I expected at this point, which pretty much makes me dead on once more.
As I was about JCPenney stock by the way. I hope that the person who bought it looking for a "turnaround" sold it near Aug 8 (as I suggested, the earliest possible profit point), after which it had dropped about 32% and has since stayed at that level.
Anonymous wphamilton said...
Did someone think I was wrong about the current GDP growth?
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did you actually submit a GDP forecast to the blog?
I'm pretty sure that I did rrb, last year before or during the election and probably referencing the often observed fact that new Presidents tend to get credit for recovery or economic improvement that began in their predecessor's term. My expectation has long been around 3% growth, up to 3.5% actually - which barring war or trade war you can take as another forecast for this time next year. I doubt that Trump has anything to do with GDP growth at this point, other than failing to do anything really damaging to the short-term economy.
I am 100% certain that I have never predicted lower GDP growth than this for the first part of Trump's term, as someone suggested.
Lol road kill squirrel
Road kill, you can bet your best pleaded skirt if the gdp was as low as the last 3 gdp reports of the actual Obama term, you would be blaming the current prez
I've been saying the same thing since Clinton in 92 and said the same for Bush in 2000. Stop guessing, I'm getting embarrassed for you.
From this economist point of view, taking the Politics out of it.
The facts at the kitchen table are cleAR Americans are feeling better about their financial futures. Multiple idicies are up.
And the houston disaster is going to have what effect on the economy....3% is going to be a pipe dream.....
Think we're not taxed enough already.
BLS: Americans Spend More on Taxes Than Food and Clothing Combined
(CNSNews.com) - Americans on average spent more on taxes in 2016 than they did on food and clothing combined, according to data released this week by the Bureau of Labor Statistics.
The same data also shows that in three years—from 2013 to 2016—the average tax bill for Americans increased 41.13 percent.
In 2016, according to BLS, “consumer units” (which include families, financially independent individuals, and people living in a single household who share expenses) spent more on average on federal, state and local taxes ($10,489) than they did on food ($7,203) and clothing ($1,803) combined ($9,006).
The average tax bill for American “consumer units” increased from $7,423 in 2013 to $10,489 in 2016, according to data released this week by the Bureau of Labor Statistics.
Tax reform now.
And the houston disaster is going to have what effect on the economy....3% is going to be a pipe dream.
It will actually be a stimulant in the short term as rebuilding begins.
And the houston disaster is going to have what effect on the economy....3% is going to be a pipe dream.....
Sure fatty your prognostications are always spot on.
Walker is still gov of WI
Michelle Nunn is not my senator
Pajama boy is not my rep
And Trump is president
Stick to eating pies, something you can manage q
CS, the sorry uninformed leftist do not have a clue, even after years of educating them here on the US Economy.
Yes, short term it will be a boost, 10 's of billions of dollars will be flowing out of the Insurance companies to the insured people, replacing cars, homes and so much more. For those w/o insurance look at the 100's of millions of dollars from private businesses and people of means. Like 4 of us here that have given already and will continue to give, money. ... for me I am giving sever hudreds of dollars of Hay. The Cattleman's Association that I am a legecy member will fund the tranportation to my fell cattle ranchers in Texas.
Natural disasters generally have severe short-term economic impacts. In the longer term, the right answer is: it depends.
From the https://www.stlouisfed.org/publications/regional-economist/april-1994/the-economics-of-natural-disasters
The net economic effect of the recovery period depends on:
* the stage of the business cycle that the local or regional economy was in.
* the timing and extent of disaster assistance monies from federal and state
* whether the jobs and incomes generated in the recovery stay local or are contracted outside
* the percentage of total losses that are insured
Hourly wages have seen some strong gains on recent mounths.
Looking at those four bullet points that the FRB holds are the determinants of the long-term economic impact of natural disasters, it begs the question ... why are those things, or something similar, not determinant of economic recovery without a natural disaster?
In other words, where a local economy has some momentum,
*inject state and federal funds, with deliberate timing, for essential rebuilding. I'm thinking infrastructure and new business, perhaps subsidies for essential workers.
* require local businesses and contractors be utilized for anything funded
* tax financial institutions to allay the cost
stimulate a local economy to maximum effect, without having a natural disaster first, and then exploit the improved tax base by moving on to the next locale.
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