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Author: Subject: President Trump has the U.S. Economy growing at the strongest rate in over 13 years

Universal Peach





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  posted on 7/27/2018 at 07:45 PM
US Economy Grew At 4.1-Percent Rate in Second Quarter Of 2018
07/27/2018

The U.S. economy grew at the strongest rate in over 13 years in the second quarter of 2018, matching economists’ high growth expectations heading into Friday’s announcement.

Gross domestic product — the total value of all final goods and services in the U.S. economy — grew at a 4.1-percent rate in the second quarter, propelled by an increase in consumer spending, exports, federal and local government spending and business investment, according to the Bureau of Economic Analysis.

In reference to 2017 second-quarter growth numbers, this year’s look stellar. Economic output grew just 2.8 percent in the second quarter of 2017.

Economists expected second quarter figures to hit levels as high as 5 percent, which would have been the highest second-quarter growth rate since 2005. Preliminary numbers generally pegged growth close to Friday’s actual figures.

President Donald Trump promised the “best financial numbers on the planet” leading into Friday’s rollout, adding that it was great to have the U.S. “winning again.”

Economists attributed the president’s tariffs for up to 1 percent of the total expected growth in the second quarter leading up to Friday. The consensus was that an increase in consumer spending from the first to the second quarter, along with a narrowing trade deficit, helped propel the economy to higher levels of growth. U.S. exports rose in the second quarter, while imports remained relatively stagnant.

The expectations of a narrowing trade deficit were spot on, with net exports adding 1.06 percentage points to the 4.1-percent GDP growth. Overall, net exports rose robustly.

Consumer spending also fell in-line with predictions, with personal-consumption spending rising at a 4-percent annual rate in the second quarter. As a percentage of GDP, consumer spending accounts for over 66 percent of the nation’s economy.


 
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Peach Master



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  posted on 7/27/2018 at 08:26 PM
This is great. We have to remember that Larry Kudlow said that this would be debt free. If it lasts 6 more yrs then he will have been a better president that Obama. If it ends like the last republikan tenure, well...

[Edited on 7/28/2018 by sckeys]

 

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Universal Peach



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  posted on 7/27/2018 at 08:34 PM
quote:
This is great. We have to remember that Larry Kudlow said that this would be debt free. If it lasts 6 more yrs then he will have been a better president that Obama. If it ends like the last republikan tenure, well...

[Edited on 7/28/2018 by sckeys]



"If" is not a strong economy.

Massive GDP growth, significant drop in trade deficit and historically low unemployment along with wage increases is a strong economy.

By their innate nature economies are cyclical. Currently all indicators are that the U.S. economy will continue to grow for the foreseeable future.


[Edited on 7/28/2018 by Muleman1994]

 

Peach Master



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  posted on 7/27/2018 at 09:01 PM
I agree. The test will be making it last. WHEN, not if, at the end of the term it’s still as strong as he found it, he can say that he was in fact a better prez than Obama. He will then be telling the truth.

 

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Maximum Peach



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  posted on 7/27/2018 at 10:41 PM
THIS IS ANOTHER LIE by trump and muleturd. Trump still has the smell of putins balls on his breath.
 

A Peach Supreme



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  posted on 7/28/2018 at 07:10 AM
quote:
THIS IS ANOTHER LIE by trump and muleturd. Trump still has the smell of putins balls on his breath.


Are you on public assistance or a monthly fixed income? How else can you be such a blockhead?

 

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Zen Peach



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  posted on 7/28/2018 at 09:17 AM
Are wages really rising? I had a coworker go speak to management about a raise and was told to go find a new job if he wants more money. He's put in 40 years at this company and hasn't had a raise in over 15 years. A lot of people like him where I work and they won't leave because starting over somewhere else would mean giving up all there vacation time.

Also since Trump has been president my year end bonus has been lower. So thanks Trump.

 

Universal Peach



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  posted on 7/28/2018 at 09:20 AM
quote:
Are wages really rising? I had a coworker go speak to management about a raise and was told to go find a new job if he wants more money. He's put in 40 years at this company and hasn't had a raise in over 15 years. A lot of people like him where I work and they won't leave because starting over somewhere else would mean giving up all there vacation time.

Also since Trump has been president my year end bonus has been lower. So thanks Trump.



Making the poor choice to continue to work there is your and your co-workers fault.
Trying to blame President Trump for your poor choices is weak.

 

Universal Peach



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  posted on 7/28/2018 at 09:21 AM
quote:
quote:
THIS IS ANOTHER LIE by trump and muleturd. Trump still has the smell of putins balls on his breath.


Are you on public assistance or a monthly fixed income? How else can you be such a blockhead?



Pops has several difficulties one of which is that his mind, such as it is, is owned by the corrupt liberal media and Pops is incapable of separating facts from the that which has been proven wrong time after time:


Economic ‘Experts’ Predicted 4-Percent Growth Would Never Happen
07/27/2018

The United States hit its highest economic growth rate in over 13 years on Friday — something many economists predicted would never happen.

Gross domestic product (GDP) grew to a 4.1-percent rate in the second quarter of 2018, compared to just 2.8 percent in the second quarter of 2017.

Meanwhile, CNN ran a headline in October of 2016 claiming, “Donald Trump promises 4-percent growth, but economists say no way,” and the Los Angeles Times ran a column with an even more dire prediction — that Trump was “dreaming” to think he could hit a 3-percent growth rate.

“An aging population and stagnant productivity could put Donald Trump’s goal of 3.5-percent economic growth out of reach,” the Wall Street Journal similarly wrote in December of 2016.

Businessman and Dallas Mavericks owner Mark Cuban predicted that the markets would tank if Trump were elected president in 2016.

And, of course, former Secretary of State Hillary Clinton warned that the economy would fare quite poorly under her 2016 opponent.

“Just like he shouldn’t have his finger on the button, he shouldn’t have his hands on our economy,” Clinton said during the election.

New York Times columnist Paul Krugman and Nobel Prize-winning economist said, "Now comes the mother of all adverse effects — and what it brings with it is a regime that will be ignorant of economic policy and hostile to any effort to make it work," Krugman wrote. "So, we are very probably looking at a global recession, with no end in sight. I suppose we could get lucky somehow.
But on economics, as on everything else, a terrible thing has just happened."

The losers spoke, and President Trump proved them all wrong.



[Edited on 7/28/2018 by Muleman1994]

 

Peach Pro



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  posted on 7/28/2018 at 10:14 AM
Trump’s Numbers on ‘Amazing’ Economy Sometimes Don’t Add Up

https://www.nytimes.com/2018/07/27/business/economy/trump-gdp-fact-check.ht ml


 

Universal Peach



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  posted on 7/28/2018 at 10:35 AM
quote:
By their innate nature economies are cyclical.


That is correct. Economic fluctuations have very little if anything to do with who is in the White House.

 

Universal Peach



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  posted on 7/28/2018 at 10:42 AM
quote:
Trump’s Numbers on ‘Amazing’ Economy Sometimes Don’t Add Up

https://www.nytimes.com/2018/07/27/business/economy/trump-gdp-fact-check.ht ml




So says the leading fake news media. Ask their boy Krugman.
The actual facts are undeniable.


 

Universal Peach



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  posted on 7/28/2018 at 10:44 AM
quote:
quote:
By their innate nature economies are cyclical.


That is correct. Economic fluctuations have very little if anything to do with who is in the White House.



Wrong.
Under Obama the U.S. economy was anemic at best.
Under President Trump the U.S. economy is better than it has been in decades.

 

Universal Peach



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  posted on 7/28/2018 at 11:25 AM
I will grant that surface ripples in the economy could be affected by shifting winds of volatility and confidence due to superficial changes in politics or who won the Superbowl, however the deep tides and currents of market forces are years and decades in their formation.
 

Maximum Peach



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  posted on 7/28/2018 at 11:37 AM
quote:
quote:
THIS IS ANOTHER LIE by trump and muleturd. Trump still has the smell of putins balls on his breath.


Are you on public assistance or a monthly fixed income? How else can you be such a blockhead?
Says the dummy, who believes everything trump and fox news belches out.

 

Maximum Peach



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  posted on 7/28/2018 at 11:43 AM
quote:
quote:
quote:
THIS IS ANOTHER LIE by trump and muleturd. Trump still has the smell of putins balls on his breath.


Are you on public assistance or a monthly fixed income? How else can you be such a blockhead?



Pops has several difficulties one of which is that his mind, such as it is, is owned by the corrupt liberal media and Pops is incapable of separating facts from the that which has been proven wrong time after time:


Economic ‘Experts’ Predicted 4-Percent Growth Would Never Happen
07/27/2018

The United States hit its highest economic growth rate in over 13 years on Friday — something many economists predicted would never happen.

Gross domestic product (GDP) grew to a 4.1-percent rate in the second quarter of 2018, compared to just 2.8 percent in the second quarter of 2017.

Meanwhile, CNN ran a headline in October of 2016 claiming, “Donald Trump promises 4-percent growth, but economists say no way,” and the Los Angeles Times ran a column with an even more dire prediction — that Trump was “dreaming” to think he could hit a 3-percent growth rate.

“An aging population and stagnant productivity could put Donald Trump’s goal of 3.5-percent economic growth out of reach,” the Wall Street Journal similarly wrote in December of 2016.

Businessman and Dallas Mavericks owner Mark Cuban predicted that the markets would tank if Trump were elected president in 2016.

And, of course, former Secretary of State Hillary Clinton warned that the economy would fare quite poorly under her 2016 opponent.

“Just like he shouldn’t have his finger on the button, he shouldn’t have his hands on our economy,” Clinton said during the election.

New York Times columnist Paul Krugman and Nobel Prize-winning economist said, "Now comes the mother of all adverse effects — and what it brings with it is a regime that will be ignorant of economic policy and hostile to any effort to make it work," Krugman wrote. "So, we are very probably looking at a global recession, with no end in sight. I suppose we could get lucky somehow.
But on economics, as on everything else, a terrible thing has just happened."

The losers spoke, and President Trump proved them all wrong.



[Edited on 7/28/2018 by Muleman1994]
The GDP grew at a rate that exceeded 4.1 at 4x during Obama presidency, but you are too stupid and lazy to do the research. You support a traitor who got on his knees in front of the world, to lick the boots of a sworn enemy of the United States. You are a loser and a disgrace to this country.

 

Ultimate Peach



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  posted on 7/28/2018 at 12:59 PM
You forgot to mention the exploding deficit. The deficit is at the highest since 2012. It is set to exceed $1 trillion per year for the first time in a non-recession/recovery year.

I remember fondly when the GOP were concerned with such things. What happened? What happened to the fiscally conservative party?

Trump is borrowing money from China to hand out to the farmers that are being hurt by his tariffs meant to punish China. Yeah boy, real solid economic policy there. The only way you can consider that a sound economic policy is to temporarily keep a few red state farmers happy until after the midterm elections, at the cost of about $100 per taxpayer. That's a lot of money that each of us are paying for a political stunt, and eats up a big portion of your tax cut savings, unless you are extremely wealthy.

 

Maximum Peach



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  posted on 7/28/2018 at 01:09 PM
quote:
You forgot to mention the exploding deficit. The deficit is at the highest since 2012. It is set to exceed $1 trillion per year for the first time in a non-recession/recovery year.

I remember fondly when the GOP were concerned with such things. What happened? What happened to the fiscally conservative party?

Trump is borrowing money from China to hand out to the farmers that are being hurt by his tariffs meant to punish China. Yeah boy, real solid economic policy there. The only way you can consider that a sound economic policy is to temporarily keep a few red state farmers happy until after the midterm elections, at the cost of about $100 per taxpayer. That's a lot of money that each of us are paying for a political stunt, and eats up a big portion of your tax cut savings, unless you are extremely wealthy.
The 12 billion dollar band aid trump is giving the soybean farmers wont even cover their losses for 2017, caused by trumps tariffs.

 

Peach Extraordinaire



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  posted on 7/28/2018 at 01:11 PM
It isn't the highest rate in 13 years, it is the highest in 13 qurters. Thanks Obama!

https://www.statista.com/statistics/188185/percent-chance-from-preceding-pe riod-in-real-gdp-in-the-us/


And, as the deficit rises, inflation will soon destroy even that. Thanks Trump, Ryan and McConnell!

 

Zen Peach



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  posted on 7/28/2018 at 01:34 PM
quote:
quote:
Are wages really rising? I had a coworker go speak to management about a raise and was told to go find a new job if he wants more money. He's put in 40 years at this company and hasn't had a raise in over 15 years. A lot of people like him where I work and they won't leave because starting over somewhere else would mean giving up all there vacation time.

Also since Trump has been president my year end bonus has been lower. So thanks Trump.



Making the poor choice to continue to work there is your and your co-workers fault.
Trying to blame President Trump for your poor choices is weak.



I don't blame Trump I blame the company. I believe the biggest mistake this company made was going public in the 90s. Private owners treated the workers better. I'm always looking for a new job because factory work sucks. The old timers just get fed up and walk off the job and retire.

 

Ultimate Peach



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  posted on 7/28/2018 at 02:27 PM
quote:
You forgot to mention the exploding deficit. The deficit is at the highest since 2012. It is set to exceed $1 trillion per year for the first time in a non-recession/recovery year.

I remember fondly when the GOP were concerned with such things. What happened? What happened to the fiscally conservative party?

Trump is borrowing money from China to hand out to the farmers that are being hurt by his tariffs meant to punish China. Yeah boy, real solid economic policy there. The only way you can consider that a sound economic policy is to temporarily keep a few red state farmers happy until after the midterm elections, at the cost of about $100 per taxpayer. That's a lot of money that each of us are paying for a political stunt, and eats up a big portion of your tax cut savings, unless you are extremely wealthy.

Good post and factual.

Somewhere along the way Russian Don must have skipped taking Economics 101 while at Wharton. He likes to brag about Wharton and his high level of intelligence. Maybe if he would have understood the principles of econ relative to tariffs, trade wars, and inflation, he would have been better prepared to make policies that didn't hurt the very people that put him in office. No better way than to lose those independent voters than to turn around and f them in their wallets trying to play strong man. If only he'd play strong man with Vlad, he may earn some credibility instead of bending over to pleasure his Russian brother.

 

Universal Peach



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  posted on 7/28/2018 at 03:36 PM
Nice work. Swift, clean, efficient. Ought to keep him under his little shipwreck at the corner of the aquarium for a while.
 

True Peach



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  posted on 7/28/2018 at 04:54 PM
The numbers are good but inflated by a gigantic sell off of soybeans and other goods to China and Europe before the tariffs took effect. The next two quarters will be a better barometer as to where we are headed. I remember things looking peachy around this time in W Bush's tenure and by the end of it we were tanking and into a giant recession. Time will tell. Most people I know haven't really felt any gain from this robust economy. Those in the very upper middle class and above are loving life for sure. Those in the middle to lower middle class and below either feel the same as they did before or worse. Different perspectives from different people depending on how they have been effected. Some are happy and some are not happy and frustrated. I guess we will start to find out in November if there are more people who feel better off than there are people who don't feel any better off.

 

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Universal Peach



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  posted on 7/28/2018 at 05:51 PM
quote:
It isn't the highest rate in 13 years, it is the highest in 13 qurters. Thanks Obama!

https://www.statista.com/statistics/188185/percent-chance-from-preceding-pe riod-in-real-gdp-in-the-us/


And, as the deficit rises, inflation will soon destroy even that. Thanks Trump, Ryan and McConnell!


A flat-out lie.

The Obama administration claimed a high (artificial) GDP rate for one quarter in 2014.
As usual the Obama administration falsified the data by adding in a made-up rate to include "intellectual property development" for which they were skewered but all the legitimate economists and Obama and his liars immediately stopped their false reporting.


 

Universal Peach



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  posted on 7/28/2018 at 05:53 PM
The incredible performance of the U.S. economy under President Trump is directly attributable to his and the Republican’s Tax Cut and Jobs Act and the President’s administration reversal of thousands of the regulations imposed on American businesses and people during Obama’s failed administration.

As soon as our country got the amateur out of the office and installed a professional the U.S. economy took off like a rocket and the lefties are crying because the just do not understand how they could have been so wrong.


It's the Trump economy, stupid

Two stories appeared on the front page and above the fold in the New York Times over the &#8206;weekend. The first was about the seemingly never-ending Russia probe. The second was about the Labor Department reporting the lowest unemployment rate in nearly 20 years. Which of these two stories do you think American voters care more about?

It’s not just the 3.9 percent unemployment rate that is worth celebrating. The growth rate of the economy over the last four quarters was just under 3 percent, a level that almost all liberal economists said was impossible to achieve and yet with Donald Trump after one year in office, here we are. In just more than one year in the White House, he has achieved a growth rate that is higher than Obama was able to achieve in eight years.

Oh, and by the way, the Federal Reserve Bank of Atlanta estimated last week that growth in April hit 4 percent. Meanwhile, a survey of manufacturers finds that more than 90 percent are bullish about the future. There are now an estimated 6 million more jobs than available workers with the skills to fill them.

The New York Times wondered last week whether we are going to see inflation rising from 2 percent as a result of the surging demand for workers. The Washington Post reported that some blue collar workers are now getting signing bonuses of up to $25,000. Who do these workers think they are? Derek Jeter?

On Friday, Obama’s White House chief of staff, Valerie Jarrett (yes, she’s back) &#8206;said on CNN that Obama deserves most of the credit for the boon and this is the left’s new riff. What else could she say? The previous administration’s staffers are genetically incapable of admitting that Trump deserves credit for anything.

This storyline that Obama is responsible for the bullish job market might have a sliver of credibility if it weren’t for several inconvenient facts. First, almost every liberal analyst who now says that Obama deserves the credit was one who told us that Trump would surely crash the economy and the stock market if he won the election.

So let’s get this straight: Trump’s policies are to blame if the economy tanks, but he gets no credit if it soars? That’s heads I win, tails you lose logic. Second, the economy was slowing down at the end of Obama presidency. The last year Obama was in office, the economy grew by 1.6 percent, which is barely staying out of inflation.

Then there’s the most inconvenient problem with the spin that Obama deserves the credit for the surge in employment and growth. It would be plausible if Trump continued on with Obama’s policies. But instead, he has systematically overturned every Obama initiative, from the tax rate increases to the climate change treaty, to the pro-drilling and pro-coal energy policies to the deregulation, to the spending priorities. This is what has infuriated Democrats. How could Obama be responsible for a spurt of growth under Trump when he’s shifted Obamanomics into reverse?

Once during the campaign, Trump asked Larry Kudlow and me how we could get much faster growth. We half-jokingly told Trump that the “key was to look at everything Obama has done and do exactly the opposite.”&#8206; That’s pretty much what the Trump administration has done. And boom!

One last point: The supercharged economy points to the absurdity of the Democrats primary policy goal, which is to &#8206;repeal the Trump tax cut. They say it is mainly for the rich and for big corporations and working-class Americans have received only, in the words of House minority leader Nancy Pelosi, “crumbs.”

But the new jobs report only underscores that it would be hard to point to a bigger public policy success story in recent times. The left’s big idea one the economy is to cancel the tax cuts. Really?

Would they also ask the 5 million workers who’ve gotten bonuses and pay hikes to give the money back? Would they rather that Apple not bring $300 billion back to America? Would they prefer that Walmart and Costco not raise their minimum salaries to $13 an hour?

Would they take America back to the highest corporate tax rate in the world? Would they rather the stock market give up the $7 trillion in increased wealth since Trump was elected? If the Democrats take back Congress, do they intend to raise taxes on 26 million small businesses? Inquiring voters want to know.

http://thehill.com/opinion/finance/386482-its-the-trump-economy-stupid



 
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