WSJ: The Economy Is Absolutely Roaring - At Least For Now

SP33Demon

Lifer
Jun 22, 2001
27,929
142
106
https://blogs.wsj.com/economics/201...onomy-is-absolutely-roaring-at-least-for-now/

The U.S. economy is roaring, at least for now. Macroeconomic Advisers, which runs one of the more sophisticated forecasting models, is tracking a 5.3% growth rate in the second quarter. That would be the fastest pace in almost 15 years. A narrowing trade deficit, tax cuts coupled with more government spending, a resurgent consumer and decent business investment are all supporting what appears to be a strong rebound in growth. The Atlanta Fed’s GDPNow model shows a slightly less robust 4.5% growth rate and such estimates jump around as new data arrives, but overall the economy appears on solid footing halfway through the year.

Really the only thing that matters right now is the economy. Trump made a promise and delivered to the people what they wanted which is rare in politics these days. What is more important than family and making money? Nothing IMO. Look at the shows on TV that we all love or loved. The Soprano's - family and money. Game of Thrones - families and resources. Empire, The Crown, Downton Abbey, etc. If it takes someone as polarizing as Trump to put money in our pockets (via jobs and lower tax % brackets) while helping our families (child tax credit doubled for instance), then I'm all for it. E.g. What else is more important than the self worth that comes with being able to move out of your parent's place and support yourself? On the other side of things, what parent wants their kid to live in their house forever? We've seen what it's done to Japan, and they will eventually cease to exist due their sharp negative birth rate since nobody can find a job that will support rental rates.
 
Jan 25, 2011
16,581
8,657
146
More and more companies are issuing warnings of possible layoffs, closings and price increases as retaliatory tariffs start to come into effect. Should Trump move ahead with tariffs on car manufacturers you could see hundreds of thousands of layoffs as a result.

Hopefully someone can finally grab him by the collar and shake some sense into him but so far no one has been able to. I'm not one who puts much blame/credit to a President on the overall economy or GDP but what Trump is demonstrating is just how a president can impact it and do so very negatively.
 

K1052

Elite Member
Aug 21, 2003
45,520
31,930
136
More and more companies are issuing warnings of possible layoffs, closings and price increases as retaliatory tariffs start to come into effect. Should Trump move ahead with tariffs on car manufacturers you could see hundreds of thousands of layoffs as a result.

Hopefully someone can finally grab him by the collar and shake some sense into him but so far no one has been able to. I'm not one who puts much blame/credit to a President on the overall economy or GDP but what Trump is demonstrating is just how a president can impact it and do so very negatively.

Autos are haded into a cyclic downturn also so the effect of any tariff is going to be substantially magnified.
 

shortylickens

No Lifer
Jul 15, 2003
82,854
17,364
136
Yeah, corporations got massive tax breaks. So they moved production overseas or laid people off.
The top 1 percent is doing fine, so the economy is "good". Wonderful.
 

cytg111

Lifer
Mar 17, 2008
22,891
12,565
136
https://blogs.wsj.com/economics/201...onomy-is-absolutely-roaring-at-least-for-now/



Really the only thing that matters right now is the economy. Trump made a promise and delivered to the people what they wanted which is rare in politics these days. What is more important than family and making money? Nothing IMO. Look at the shows on TV that we all love or loved. The Soprano's - family and money. Game of Thrones - families and resources. Empire, The Crown, Downton Abbey, etc. If it takes someone as polarizing as Trump to put money in our pockets (via jobs and lower tax % brackets) while helping our families (child tax credit doubled for instance), then I'm all for it. E.g. What else is more important than the self worth that comes with being able to move out of your parent's place and support yourself? On the other side of things, what parent wants their kid to live in their house forever? We've seen what it's done to Japan, and they will eventually cease to exist due their sharp negative birth rate since nobody can find a job that will support rental rates.
Thanks Obama.
This is in spite of NK shakes, Russia shakes, Trade war shakes..
Obama might just be the greatest of all times.
 

ivwshane

Lifer
May 15, 2000
32,127
14,771
136
Did the article cover wage growth? What about wealth inequality? How about a shrinking workforce (aside from retiring baby boomers)?

These were all concerns under Obama that I haven't seen mentioned yet.

We should start counting our chickens now.
 

cytg111

Lifer
Mar 17, 2008
22,891
12,565
136
Nope, the one occupying the position when the event(s) happen, gets the credit. Can't be Obama's policies. There aren't any left. lol

But all them spies and immigration polices that Trump inherited from Obama?
 

Mai72

Lifer
Sep 12, 2012
11,578
1,741
126
Whose economy? Obama or Trumps?

I believe that when you ask people about the economy it's going to depend on their current financial state. Ask someone whose had their job for X-number of years, has health care, savings, retirement, passive income and they'll more than likely say that the economy is in great shape. Ask someone whose struggling financially and they'll tell you that the economy sucks. IMO, the US economy is still tops and I still believe in the US dream. But, you have to really want it. We have some people who graduate from college and want to make $70k immediately. THere are others who do nothing but bitch and complain that they have no money, and yet they spend most of their free time watching Netflix/palying video games. If you want it you've got to hustle. Drive for Uber/Lyft if you need money. Sell your crap on ebay. Anything.

About the 1%. We can't do anything about it so why complain? The rich make the rules. We can't do anything short of a revolution. Anyway, I think we are heading into massive financial issues. School debt. Pensions. Those tarriffs. Nearly 50% of Americans with ZERO savings/Zero Retirement. Lack of health care. Type 2 diabities. Medicare, Medicade. Social Security. People living much longer than their savings. I could go on.

"A nation is born stoic, and dies epicurean."
`William Durant
 
Last edited:
Jan 25, 2011
16,581
8,657
146
Did the article cover wage growth? What about wealth inequality? How about a shrinking workforce (aside from retiring baby boomers)?

These were all concerns under Obama that I haven't seen mentioned yet.

We should start counting our chickens now.
How could you leave out labor force participation rate? I mean come on man!
 

sandorski

No Lifer
Oct 10, 1999
70,068
5,596
126
Trade deals, China, the EU, Canada, Mexico, the WTO, and NATO are killing you....
 

ch33zw1z

Lifer
Nov 4, 2004
37,605
17,935
146
Nope, the one occupying the position when the event(s) happen, gets the credit. Can't be Obama's policies. There aren't any left. lol

Yup, that's what republicans were saying during the financial crisis Obama inherited. Yup, sure thing.
 

ch33zw1z

Lifer
Nov 4, 2004
37,605
17,935
146
Did the article cover wage growth? What about wealth inequality? How about a shrinking workforce (aside from retiring baby boomers)?

These were all concerns under Obama that I haven't seen mentioned yet.

We should start counting our chickens now.

Who needs trickle down when funnel up is working great.

OP: thanks obama
 

fskimospy

Elite Member
Mar 10, 2006
83,225
46,799
136
https://blogs.wsj.com/economics/201...onomy-is-absolutely-roaring-at-least-for-now/



Really the only thing that matters right now is the economy. Trump made a promise and delivered to the people what they wanted which is rare in politics these days. What is more important than family and making money? Nothing IMO. Look at the shows on TV that we all love or loved. The Soprano's - family and money. Game of Thrones - families and resources. Empire, The Crown, Downton Abbey, etc. If it takes someone as polarizing as Trump to put money in our pockets (via jobs and lower tax % brackets) while helping our families (child tax credit doubled for instance), then I'm all for it. E.g. What else is more important than the self worth that comes with being able to move out of your parent's place and support yourself? On the other side of things, what parent wants their kid to live in their house forever? We've seen what it's done to Japan, and they will eventually cease to exist due their sharp negative birth rate since nobody can find a job that will support rental rates.

Yes, of course economic growth increased in the second quarter. Republicans injected a huge amount of money into the economy with a debt financed tax cut.

They are engaging in massive economic stimulus in an already strong economy, which is foolish.
 
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hal2kilo

Lifer
Feb 24, 2009
23,150
10,082
136
More and more companies are issuing warnings of possible layoffs, closings and price increases as retaliatory tariffs start to come into effect. Should Trump move ahead with tariffs on car manufacturers you could see hundreds of thousands of layoffs as a result.

Hopefully someone can finally grab him by the collar and shake some sense into him but so far no one has been able to. I'm not one who puts much blame/credit to a President on the overall economy or GDP but what Trump is demonstrating is just how a president can impact it and do so very negatively.
Kelly will be gone soon, he doesn't pay any attention to Mattis. He's completely free to be Trump. Help us all.
 

Jaskalas

Lifer
Jun 23, 2004
33,263
7,317
136
What has Trump done to help the economy?

If you're going to say tax cuts, then we know you're full of !@#$. Wall Street does not share in its quarterly profits. That is why the gap exists in the first place. The economy is still enjoying its turn around from the 2008 disaster. Been waiting for its bubble to pop. If you want to thank Trump for something, watch and see what his Trade Wars do.
 

repoman0

Diamond Member
Jun 17, 2010
4,386
3,195
136
Thanks Trump, for the debt financed tax cut that my generation will pay for and yet will benefit from by far the least! Really appreciate the wealth transfer to the old and rich.
 

fskimospy

Elite Member
Mar 10, 2006
83,225
46,799
136
What has Trump done to help the economy?

If you're going to say tax cuts, then we know you're full of !@#$. Wall Street does not share in its quarterly profits. That is why the gap exists in the first place. The economy is still enjoying its turn around from the 2008 disaster. Been waiting for its bubble to pop. If you want to thank Trump for something, watch and see what his Trade Wars do.

Pretty simple, Republicans hugely cut taxes and increased spending and financed it with a bunch of debt. The amount of fiscal stimulus they are engaging in is -no shit- much larger than the stimulus package we used to combat the financial crisis.

The stupidity of this cannot be overstated.
 

soundforbjt

Lifer
Feb 15, 2002
17,761
6,000
136
Did the article cover wage growth? What about wealth inequality? How about a shrinking workforce (aside from retiring baby boomers)?

These were all concerns under Obama that I haven't seen mentioned yet.

We should start counting our chickens now.
Just saw a piece yesterday that wages are still stagnant and in some cases have fallen...thanks Trump.
 

fskimospy

Elite Member
Mar 10, 2006
83,225
46,799
136
Just saw a piece yesterday that wages are still stagnant and in some cases have fallen...thanks Trump.

Poor wage growth was a sign that Obama’s economy was bad despite low unemployment in the last couple of years. Even worse wage growth under Trump is somehow a sign of the economy ‘roaring’.

This is because people like Speedy aren’t operating on facts, this is all about their feelings.