Fist quarter comes in strong at 3.2% GDP growth

[SlowSpyder]

I am not getting tired of winning. Another strong showing, hope it continues.

https://www.marketwatch.com/story/e...ows-much-stronger-than-anticipated-2019-04-26

https://www.cnbc.com/2019/04/26/gdp-q1-2019-first-read.html

"“The upside beat was helped by net trade (exports jumped while imports contracted sharply) and inventories which combined contributed almost 170 bps of the rise,” wrote Peter Boockvar, chief investment officer at Bleakley Advisory Group. “Personal spending though, the biggest component was up just 1.2%, two tenths more than expected as an increase in spending on services and nondurable goods offset a decline in spending on durable goods.”

Exports rose 3.7% in the first quarter, while imports decreased by 3.7%. Economic growth also got a lift from strong investments in intellectual property products. Those investments expanded by 8.6%.

Disposable personal income increased by 3%, while prices increased by 1.3% when excluding food and energy. Overall prices climbed by 0.8% in the first quarter"

 

[allisolm]

I heard that this morning and was glad to see a showing that was stronger than expected. They did say the number would be revised up to 3 times (I think it was 3) going forward before it becomes permanent and I hope they don't have to revise it down.

 

[dank69]

Thanks Obama!

 

[compuwiz1]

Thanks Obama!

Putz

 

[Vic]

Putz

We saw this same level of GDP growth during Obama, and Trump called it 'weak' and 'guaranteed' 5%. So let me know when that promise has been kept.

 

[Hayabusa Rider]

Nice. Now let's get rid of the anti-law and Constitution President Trump.

 

[LurchFrinky]

Well, I also hope it continues and I'm not tired of winning either.
Although, for some reason, I don't think my winning means the same as your winning.

 

[Thump553]

Remind me again-how rapidly has Trump been increasing the deficit in order to cause this sugar rush based upon the solid foundation to economic recovery Obama built?

Here's an opinion piece from that leftist rag, Forbes, decrying that Trump is escalating the deficit at 4.6% a year, a record for a non-recessionary period:

https://www.forbes.com/sites/chuckj...t-deficit-with-a-strong-economy/#4ac4a29f49d1

Trump (and his strident supporters like the OP) care not one whit how bad he will leave the country's finances when he is finally gone. They stick to the short-sighted view that what is critically important is this quarter's numbers.

 

[Vic]

Remind me again-how rapidly has Trump been increasing the deficit in order to cause this sugar rush based upon the solid foundation to economic recovery Obama built?

Here's an opinion piece from that leftist rag, Forbes, decrying that Trump is escalating the deficit at 4.6% a year, a record for a non-recessionary period:

https://www.forbes.com/sites/chuckj...t-deficit-with-a-strong-economy/#4ac4a29f49d1

Trump (and his strident supporters like the OP) care not one whit how bad he will leave the country's finances when he is finally gone. They stick to the short-sighted view that what is critically important is this quarter's numbers.

Not to mention that Kudlow wants the Fed to cut rates.

 

[Jhhnn]

Not to mention that Kudlow wants the Fed to cut rates.

Blow the top right off of the economy! Lend, lend, lend other people's money until you can't lend any more, then step back & watch it fall down. There will be bargains & opportunities galore to bone the little guy. Ask Mnuchin.

 

[Bitek]

Some of the analysis I read attributed the additional growth due to the high levels of military spending (ie Keynesianism works), but the effect of the tax cuts is rapidly waning.
Business investments are well below the projections made by tax cut advocates.

So really the question is, for the massive debts we are running, are we making wise investments?

If you think buying an 80" 8k TV on your cc raises your property values, you probably love what Trump's doing.

Personally, I think we should be fixing the leaky roof, and putting our extra money away into the savings account.

 

[SlowSpyder]

The left has been claiming this economic good news is a "sugar high" that will not last. But, they've been claiming that for quite some time. Do they ever get tired of being wrong? Amazing the amount of spin that they'll put on good news to feed partisanship vs. celebrating America doing well.

 

[Pipeline 1010]

The left has been claiming this economic good news is a "sugar high" that will not last. But, they've been claiming that for quite some time. Do they ever get tired of being wrong? Amazing the amount of spin that they'll put on good news to feed partisanship vs. celebrating America doing well.

Actually a lot of conservative economists are worried that the economy is too hot and too dependent upon debt. We've lived all our lives in a boom/bust economic cycle, and the higher the boom, the lower the bust. Right now, we're boom-ish. I'm looking at lots of good things: a super high stock market, very high home prices, low unemployment, etc... These are all great and I'm enjoying this right now. All the same, I anticipate that all this debt might come back to harm us. This is a core value of fiscal conservatism, by the way.

 

[SlowSpyder]

I agree with the author of this article.

The tax burden relief the middle class received from Trump's tax plan has helped sustain growth at levels that leftists said could not and would not happen. And liberals are angry about America doing well.

"Former Treasury Secretary and Obama economic adviser Larry Summers compared Trump’s prediction of 3 percent GDP growth to believing in “tooth fairies,” and Obama administration economist Lee Branstetter actually declared that it was “mathematically impossible” to reach 3 percent growth."

 

[Bitek]

The left has been claiming this economic good news is a "sugar high" that will not last. But, they've been claiming that for quite some time. Do they ever get tired of being wrong? Amazing the amount of spin that they'll put on good news to feed partisanship vs. celebrating America doing well.

You sound like a Bushie circa 2005.

Who cares how the growth is coming? Deficits don't matter. Pay no attention to the personal debt. Let the good times roll, they will last forever!

 

[blankslate]

The alternate title of this thread is "Obama economy still going strong despite walking talking 300 pound Cheetos' attempts to tank it."



_________________

 

[umbrella39]

Remind me again-how rapidly has Trump been increasing the deficit in order to cause this sugar rush based upon the solid foundation to economic recovery Obama built?

Here's an opinion piece from that leftist rag, Forbes, decrying that Trump is escalating the deficit at 4.6% a year, a record for a non-recessionary period:

https://www.forbes.com/sites/chuckj...t-deficit-with-a-strong-economy/#4ac4a29f49d1

Trump (and his strident supporters like the OP) care not one whit how bad he will leave the country's finances when he is finally gone. They stick to the short-sighted view that what is critically important is this quarter's numbers.

Growth was driven in part by higher inventories, especially in the manufacturing industry, which can indicate that businesses are stock piling goods rather than selling them. Higher inventories can often fore shadow slower growth in the next quarter. Domestic private sales, which subtract out imports and exports as well as government spending, decelerated to half the rate of the previous quarter — the smallest gain in three years.

Consumer spending slowed, in part due to weak sales of goods, in particular light trucks. Business investment also slowed from the previous quarter, with agricultural machinery and office furniture posting the largest declines. The biggest boost for business investment came from intellectual property products. Exports are expected to slow, facing headwinds from a strengthening dollar.

Winning the heartland...

#limpaway

 

[Vic]

You sound like a Bushie circa 2005.

Who cares how the growth is coming? Deficits don't matter. Pay no attention to the personal debt. Let the good times roll, they will last forever!

There's this great clip on youtube of Hannity ranting that 'there is no housing crisis' literally just days before Fannie Mae collapsed. Just tragic in its hilarity.

 

[SlowSpyder]

The alternate title of this thread is "Obama economy still going strong despite walking talking 300 pound Cheetos' attempts to tank it."



_________________

The Trump tax cuts are the reason we see the extended good times. Consumer confidence, small business activity, and continued low unemployment and rising wages are all directly attributable to Trump at this point.

He said he'd be a great jobs president and he was right.
He said we'd see much better GDP growth under him compared to Obama and he was right.
He said he'd put in pro-American trade deals to help make all of this happen and he was right.

 

[dank69]

The Trump tax cuts are the reason we see the extended good times. Consumer confidence, small business activity, and continued low unemployment and rising wages are all directly attributable to Trump at this point.

He said he'd be a great jobs president and he was right.
He said we'd see much better GDP growth under him compared to Obama and he was right.
He said he'd put in pro-American trade deals to help make all of this happen and he was right.

Define "much better."

 

[SlowSpyder]

Define "much better."

Team Obama said 2% growth is the new normal. We're seeing much better growth than that.

 

[fskimospy]

I agree with the author of this article.

The tax burden relief the middle class received from Trump's tax plan has helped sustain growth at levels that leftists said could not and would not happen. And liberals are angry about America doing well.

"Former Treasury Secretary and Obama economic adviser Larry Summers compared Trump’s prediction of 3 percent GDP growth to believing in “tooth fairies,” and Obama administration economist Lee Branstetter actually declared that it was “mathematically impossible” to reach 3 percent growth."

Oh look an opinion piece by a non-economist. Lol.

Just shows how dishonest or stupid he is and how dishonest or stupid you are as to take that quote out of context. Branstetter was obviously right, as he was saying sustained 3% growth was impossible due to demographics. He never said that growth in one quarter was impossible. Hell, Obama topped 4% in some quarters.

 

[Thump553]

I agree with the author of this article.

The tax burden relief the middle class received from Trump's tax plan has helped sustain growth at levels that leftists said could not and would not happen. And liberals are angry about America doing well.

"Former Treasury Secretary and Obama economic adviser Larry Summers compared Trump’s prediction of 3 percent GDP growth to believing in “tooth fairies,” and Obama administration economist Lee Branstetter actually declared that it was “mathematically impossible” to reach 3 percent growth."

You spout this nonsense but yet claim to be a fiscal conservative? What in the world is conservative about a tax cut paid for by increasing government borrowing? Your and my kids and grandkids are going to pay the costs of these bogus "tax cuts."

BTW many of us in the middle class have had our taxes increased under this "tax cut" (not even counting how Trump has skyrocketed our health care costs)-and that's before the sunset for the middle class tax cut takes place. Trump's law is intentionally designed to have NO sunset provisions for the wealthy and corporate tax cuts-I wonder why?

 

[DarthKyrie]

You spout this nonsense but yet claim to be a fiscal conservative? What in the world is conservative about a tax cut paid for by increasing government borrowing? Your and my kids and grandkids are going to pay the costs of these bogus "tax cuts."

BTW many of us in the middle class have had our taxes increased under this "tax cut" (not even counting how Trump has skyrocketed our health care costs)-and that's before the sunset for the middle class tax cut takes place. Trump's law is intentionally designed to have NO sunset provisions for the wealthy and corporate tax cuts-I wonder why?

You know as well as I do that that is because they want to be able to use that to win another election and give the super rich and corps. another fat tax cut all while paying lip service to their constituents.

 

[Hayabusa Rider]

Team Obama said 2% growth is the new normal. We're seeing much better growth than that.

Your thirty pieces of silver eh? Maybe it's time to put the Mace of the Republic into more than symbolic use.

Edit- yes there is such a thing and not a metaphor.