"The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2018 is 4.8 percent on June 14, up from 4.6 percent on June 8," the Federal Reserve Bank of Atlanta said in its latest GDPNow report on Thursday.
- After this morning's retail sales release from the U.S. Census Bureau, the nowcast of second-quarter real personal consumption expenditures growth increased from 3.4 percent to 3.6 percent."
How bout that? Remember a while back when I mentioned the GDP growth was projected to beat 4% and our commie friend in DC railed and ranted and screeched and hooted, arms akimbo, spittle flying out of his mouth and demanded proof and declared in no uncertain terms this economy was in worse shape than the great depression all thanks to President Donald Trump? Remember that? I do.
And now it just keeps getting better and better. How many times have we heard one of these communist bastards talking about the non existent concept of "trickle down economics" and what a massive failure it always is, even though the facts and history prove again and again tax cuts and supply side economics are the single greatest economic stimulator of this era?
And yet they'll continue. They'll lie and claim our economy is weak. Job by the millions? Means nothing. Consumer confidence up to an 18 year high? So what? Food stamp participation dropping like a rock? Who cares? And how do they explain that? You're all racist hillbillys and too stupid to get out of your own way, they'll tell us. Your only hope is to let geniuses like us run your lives. Tell you how much you should earn. How much of your money you should be allowed to keep. When you are allowed to speak and about what. What kind of immoral perversities you should be forced to not only accept but participate in. You know, like under the last Marxist president. Things went swimmingly well then, didn't they?
But they'll keep spreading their lies. That's what they do. That's what they've always done. Hell, some of them are still trying to sell the idea that Venezuela is a modern day Socialist paradise. Might be for a few plutocrats, but if you're a pet dog there's a pretty good chance you'll end up in tortilla for lunch.
But if it didn't sell, you wouldn't see people like Bernie the Commie running for President. You wouldn't have seen a Marxist elected to two terms.
Somebody once said, nobody ever went broke underestimating the intelligence of the American people.
And no doubt before the day's over the faux butt doc will show up with a bunch of copy and pasted refutations of how the American economy is growing like it was on rocket fuel. He's probably searching Pravda as we speak. I imagine he gets a free subscription with his party membership.
Nancy Pelosi says:
ReplyDeleteHouse Minority Leader Nancy Pelosi told reporters on Thursday that she is confused why Americans aren’t “uprising” against the Trump administration over conditions on the border with Mexico.
The California Democrat’s weekly press briefing veered into explosive territory when the subject of illegal immigration came up. Mrs. Pelosi said there may be “uprisings” over children who are separated at the U.S. southern border when asylum seekers decide not to arrive at a proper checkpoint.
“I just don’t even know why there aren’t uprisings all over the country, and maybe there will be when people realize that this is a policy that they defend,” she said. “It’s a horrible thing, and I don’t see any prospect for legislation here.”
Gosh, the last time democrats got this mad was 1861, when Republicans took away their slaves. Now they're mad because they're taking away their gardeners and housekeepers.
Seems they were calling for uprisings in 1861 too. And resistance. Some things never change. Didn't work out well for the country then. Won't work this time either.
Good Morning Y'all.
ReplyDeleteMy feelings on the IG released report.....is that someone had to be the scapegoat(s) - not really surprised about them not finding reason to charge Hillary, et al. But then to...when I cast my vote in November 2016, I knew what I needed to know about the two candidates - and I'm more than happy that I voted for Donald Trump.
This morning in the Washington Times is this editorial - but like with most media outlets it points things out but that's about it.
https://www.washingtontimes.com/news/2018/jun/15/heres-your-collusion-leaking-fbi-agents-got-payout/
“Here's your collusion: Leaking FBI agents got payouts from media”
I've never seen such a waste of time as the time it's taken in the fake Russian collusion investigation crap - that has been taking longer than the re-investigation into the damned Hillary email soap opera.
And just when the hell did illegal aliens turn into "asylum seekers"?
ReplyDeleteJust another example of the godless left coopting language and making it mean something it doesn't.
We're living in 1984.
This comment has been removed by the author.
ReplyDeleteas for the resident irritant who is full of croakings of crapola....
ReplyDeleteIan:
-.-- --- ..- / .- .-. . / .- / .-.. -.-- .. -. --. / .--. .. . -.-. . / --- ..-. / … …. .. - !!!
I don’t think you understand what FXStreet is. This is the website that provides investors and others information about the FOREIGN EXCHANGE market, aka FOREX. It provides economic data, and projections to assist subscribers in making sound investment decisions on the international market. It is headquartered in Barcelona by the way.
ReplyDeleteThe article you cited ( hey, good job ), quoted the Federal Reserve Bank of Atlanta. It did not from what time I gave it, indicate if the forecast was regional ( the jurisdiction of that Fed Res. Bank ) or national. It almost certainly was not the latter. Odd when you look at the same source YOU cited, published only two weeks ago. Big difference. I cited the source, author and date of posting. In any case this very specifically cites the GDP for the US… i.e. the WHOLE COUNTRY. 2.3 to 2.4 is nothing to get excited about.
Mario Blascak, PhD , FX Street
FOLLOW
May 29, 2018 11:53am Comments
US GDP Revision Preview: First Quarter Growth Seen Slightly Higher Than Originally Estimated
"This article originaly appeared on FXStreet.
The US first-quarter GDP is expected to be revised upward to 2.4 percent over the quarter annualized after 2.3 percent preliminary estimate.
The combination of strong GDP growth, solid US labor market, and core PCE price index firmly above 2 percent is seen keeping the Federal Reserve firmly anchored on its path of gradual interest rate normalization with June rate hike being a sure shot.
The US first-quarter GDP is expected to see the US economy rising 2.4 percent over the annualized quarter, compared to 2.3 percent originally reported, the Bureau of the Economic Analysis (BEA) is expected to report on Wednesday"
Let's look at THE FED.. as in the one on Constitution Ave. in D.C.
"The Federal Reserve raised its outlook on U.S. economic growth on Wednesday. The median real GDP forecast rose to 2.8 percent, up from 2.7 percent, for this year. There were no changes for 2019 and 2020, and the longer run median forecast remained 1.8 percent."
source https://www.cnbc.com/2018/06/13/fed-raises-2018-outlook-for-us-economy.html
Now... Obama. You know they guy who led the economy to recovery ? Let's look at a highly respected publication, Fortune commenting on economic growth as defined by GDP during his tenure "
"Take the Obama era for example. Between 2009 and 2016, GDP growth reached at or above 3% on a quarterly basis about eight times."
Okay, read that again. But hey, no really, I'm impressed that somebody actually did some research. They just didn't understand it. By the way, I will post the link to the Fortune article, which also notes Alan Greenspan sees the economy as 'slowing'.
http://fortune.com/2017/08/30/donald-trump-springfield-mo-3-gdp/
I can see some things never change. The childish name calling, the inability to defend whatever obscure argument being made, and too many other problems to list. I feel sorry for Kansas, but I sure as hell have a better understanding how it got where it is now.
I see some things never change. Lies and propaganda from anti-American shills for the democrat/communist party.
ReplyDeleteThe name calling. The insults. The hate filled attacks on our fine state. Inability to tell the truth.
I feel sorry for the democrat/communist party, but I sure as hell have a better understanding of how it got where it is now. It's populated primarily by apparachiks working feverishly to overturn our election and destroy our government.
A lie get halfway around the world before the truth has a chance to get its pants on, and we see the lie's are fast and ferrous with the lib's.
ReplyDeleteI prefer to argue the facts, not the sources of the facts. I have little doubt that both sources are telling the truth, at least as far as they go.
ReplyDeleteAnd again, you can say that Obama's economy set the stage, but the current performance seems due to Republican policies. They are certainly happening concurrently with those Republican (yes, mostly Trump) policies.
Again, something is either a fact or it isn't. What Trump has done is wind up the opposition so that they seem unbalanced to neutral observers. I saw reference to a survey a few months ago which suggested that the Administration's popularity with Libertarians has gone way north. That should be a sign to the media and "entertainment industry" to cool it.
Besides, "childish name calling," "inability to defend an argument?!" I don't know when I've ever done that, at least recently. Indeed, Boz's normal modus operandi is to try to make a different argument to avoid addressing my issues. Now I may unconsciously do that too, but if my attention is drawn to it, I'll address any point I feel competent to answer.
I prefer to do both. In a normal situation ( not formal though ) I wouldn't feel compelled to document nearly as much as I do here. I do so because the facts need to be presented from a source other than myself to (possibly) be believed. That Topeka for instance has a higher murder rate than the often trashed Chicago is a fact. But if I just tossed that out there it would hardly support any point I might be making, and would be laughed at out of
ReplyDeletehand.
As for republican policy, what policy ?? They have done ONE thing.. CUT TAXES. Okay, I won't cite anybody else. I will simply reiterate what the overwhelming consensus is among the country's top economists. There is no need for the tax cut. It will likely lead to inflation ( the Fed is once again looking to boost interests rates today ), and what most people do not realize is that in a few years it will be fazed out. That will occur in 2025 when all individual tax cuts will expire. At the same time, corporate rate cuts will be made permanent under the bill. Does this sound familiar? 2025 is not that far off. But it IS far off enough to continue adding to the debt (so far much more than expected).
Today China has declared that it will reciprocate with tariffs on American goods. Neither of us are as far as I know, economic historians, but all this brings to my mind the era just before the Great Depression and certainly after the stock market crash.
Republican policy was largely responsible for the economic crash leading to the Great Depression. I don't think Smoot-Hawley caused it alone, but we likely would have had a severe recession instead a depression. Trump’s opening round of tariffs may lead to job losses in steel-using industries. American Keg Co. — the last U.S. manufacturer of stainless steel beer kegs — already announced layoffs and said that its own demands for tariffs may be forthcoming because of the anticipated higher steel prices. Because steel and aluminum are such important inputs, their higher costs could lead to increased protectionism. But problems with "Trumpism" is most damaging in that it will likely lead to our economic isolation.
In the Thirties, some countries raised tariffs to directly retaliate against the U.S. Several countries immediately responded to Smoot-Hawley with their own tariffs in the early 1930s. Canada, then as now, was heavily dependent on the U.S. market and outraged by the U.S. action — and imposed retaliatory duties twice in 1930. Other countries struck back at the United States, but a global trade war did not break out until 1931 — and then largely because of a financial crisis in Europe.
Trading partners today will NO doubt respond by imposing higher tariffs on U.S. exports. In light of Trump’s duties, the European Union has announced a plan to “rebalance” its trading relationship.
Trading partners have formed blocs — and are signaling they will exclude the U.S. much as they did under Smoot-Hawley. So no more preferential trade arrangements. When Trump pulled out of the TPP, Xi of China must have been doing a tap dance.
Face it. Trump doesn't have a clue what he's doing and the world knows it. But the breaking news that Manafort is on his way to jail may signal the beginning of the end. God help us if it doesn't.
you face it Ian.... President Trump does know what he's doing - everyone here can vividly detail President Trump's successes to you since his Inauguration....but you are so mentally constipated that you only want to fill your life with lies from unreliable sources - that's the problem with you idiot libs - can't see straight for the lies that the biased media and Anti Trump folks are feeding you.
DeleteSounds like a big load of horse manure to me. But that’s the kind of crap you get when all your information comes from godless left wing propaganda sites.
ReplyDeleteJust more of the same.
I'm aware of those arguments in economic history. I'm also aware of competing theories on the beginnings of the Great Depression. Overproduction, market saturation, an agricultural economy that never had a "Roaring 20s" to name a few. I also know that the Dems love to tout the New Deal and FDR as the ones who ended the Great Depression, when the truth is pretty much that if you're going to be lauding the person who did the most to end the Depression, you're going to be doing it to Adolf Hitler.
ReplyDeleteWe'll have to see how the script goes from here, re: tariffs. I do know that under "free" trade, we've been getting our lunch eaten. Clearly this bothers our elites (of both parties) little, if any.
Manafort going to jail will conclude with the end of Trump??!! You really have imbibed the Dem dreams, Boz. Either that or DC legalized recreation wacky-tobacky.
Uh huh. I think Nixon said something along those lines. .... Guess we will have to wait and see.
DeleteWW II was a result of the Depression not the solution. In any case, if FDR had been given the ability to respond with spending on a level spent for the war, the Depression would have ended.
We would likely have teetered into another depression in 08 if democrats did not have a majority on the hill and did the exact opposite of what Hoover and the repubs did in response to what began as a recession and ultimately led to the Great Depression. Obama and the Dems passed the Recovery Act ... coordinated with the Fed which pumped money into the economy. Damned if within a few months, then on for 8 years things didn't start looking up. Virtually every quarter. Oh, except in Kansas where kool aid was being hawked by poor kids on street corners - paid $1 an hour by their employers the Koch Brothers- and caused the populace of that state to walk around like zombies in Night of the Living Dead. They were heard mumbling "Rich people deserve more money... I need some meth".
Yeah, Boz, that's me. Mindless mumbling to get a high. (Except I'd be saying that I need some Arrogant Bastard, Carlsberg, or Cutty Sark) Do you realize how silly that sounds? You know, ol' buddy ol' pal, I think EVERY ONE of us works full time for a living here. So if you're out l@@king for Takers, I'd suggest you look elsewhere.
DeleteWell, WWII certainly solved the Depression. Until the first quarter of 1940 we were still mired in it. Must be magic, huh Boz?
The root of war in Europe is that idiots like Hitler who think they're the el supremo world dominator started his morbid quest of trying to annihilate the Jewish people from the face of the earth....that and the Japanese bombing Pearl Harbor on December 7, 1941 is the root of WWII!! Get your damned facts straight -
DeleteMore often than not, Blue, your sources are nothing more than anti Trump opinion pieces you agree with.
ReplyDeleteHardly a reliable source.
And as far as Manfort going to jail, so what?
It's got nothing what so ever to do with Trump.
It's got nothing to do with the campaign.
And it has nothing to do with Russia.
But you hang on to that wet dream.
I mean, it's really all you have...
I been around a great many years And more personalities than I care to admit, But Blue I can tell when I have run in to one like you, I know Bullshit when I hear it, and by God you are running on over full .
ReplyDeleteFDRs new deal was the communists dream come true. Whittaker Chambers writes that when the new deal was pushed through his fellow communists cheered mightily. It was their first big success in pushing America towards their ideology. They considered it a huge success.
ReplyDeleteAnd if Congress hadn't stopped that old Socialist FDR from packing the Supreme Court chances are he would have done a hell of a lot more damage than he did.
Have you seen that Angie Baby's government in Berlin is in jeopardy? First Hungary, then Austria, then Italy, and now maybe Germany. A veritable Mittel Europa there, right Boz? Give you any thoughts?
ReplyDelete"Angie Baby" ? What, you got something cooking with her ?? Europeans have been predicting her demise for the better part of the last year. Marine Le Pen was predicted to be running the show in France and well.. nope, didn't happen. We have no idea how this will work out. My guess is that Europeans may be dealing with a situation not unlike that experienced in the U.S. ( and still is ) with the descendants of slaves. Never been easy, but short of reopening up the concentration camps, what .. you're gonna send them back? Their labor may be more needed than the Europeans realize ( much like we will find out with Mexicans). So who knows ?
DeleteThis is for Europeans going to be their biggest test. It has at least as much to do with demographics as politics. Europeans are not reproducing. It's estimated that in a couple of generations Italy's population will have diminished from about 60 million to 40. And it will be OLD. Maybe even older than Sargejr Jim. Not a good outlook. SO there's that.....
OH and many thanks to Kevin for your brilliant insight ... always on point as well as pithy. My leg hurts from being slapped so many times.
Alright Smartass, do us all a favor and explain connection between Manafort going to jail and Russia collusion.
DeleteI'll be anxiously awaiting your brilliant insight...
Kevin - the reason Ian doesn't have any brilliant insight is because he mentally constipated
DeleteThat and he hasn't gotten the talking points yet...
Deleteyep, that's because he doesn't know how to think for himself that's why he copy & pastes his comments.... what's really sad is that he doesn't see that he's nothing but a brainless drone for the liberals.
DeleteWe contend that for nation to try to tax it self into prosperity is like Blue standing in a bucket and trying to lift himself up by the handle...But the fool will keep trying. Go Blue pull harder...
ReplyDeleteCrooked hillary is speaking today at an eighth grade graduation. What a picture.
ReplyDeletehillary is doing junior high school commencements and President Trump is bringing peace to the Korean peninsula and persuading the NORKS to give up their nuclear weapons making our world a safer place.
It just doesn't get any better than this. Wonder if any of the junior high kids had to give hillary their lunch money to get her there? Probably.
Just wondering...when the economy sucked so bad under the obama regime for eight years it was always George Bush's fault. So the previous President got all the blame for everything that obama couldn't fix.
ReplyDeleteNow that the economy is running on rocket fuel, obama wants the credit. Even though for eight years it sucked and he couldn't fix it, suddenly a year and a half into President Trump's term he fixed it.
When it's bad, he blamed everybody else. When it's good, he takes the credit whether he had anything to do with it or not.
Must be a Marxist thing. You know, when you lie so much you don't even know the difference between a lie and the truth. Kind of like those big bloviations posted earlier here by our resident gasbag.
And the sad thing about it all...
ReplyDeleteHe believes it...
That boy hates everything, Trump wins and his little piglet got her ass handed to her, and now his little sugar baby Obama is being found out how badly he fail, I would say old Blue is about to have a break down.
ReplyDeleteAnd Queen Hillary has been reduced to speaking at eighth grade graduations.
ReplyDeleteLMAO!!!
I want her to be reduce to talking to her jail mate's.
DeleteI'm all for takes. I am always fascinated by perspectives and views. I can always respect most people's views.
ReplyDeleteBut there is exceptions. I don't like pretentious arrogant people. I don't like elitism. It's cool to be snarky, but it ain't cool to be a no it all prick. Let's remember he's harassing, and choosing not to refute several points some have brought up, and his (weak)secret weapon is to only bag on Kansas.
I can see your problems with him folks, past and present. Too bad he won't show up on another board I'm on. His wig would get split. Academically of course....
I've changed my mind. Anyone chooses to run him, I'll support it.
Hammer I will try to do better!!!😂😂 🍻
DeleteWell just for old times, Good Night room 235, and to Cats, Vent, and Mrs Calabash where you all are. Dilly Dilly..
ReplyDeleteOkay where did I leave off last night? Oh and a good morning room 235.
ReplyDeleteGood morning. Up and at it. Practicing for retirement. No sleeping in for me.
ReplyDeleteLol, this has to be a first!😂
DeleteWhat do you suppose Hillary gets for speaking at an eighth grade graduation anyway?
ReplyDelete$50.00?
My, how far that bitch has fallen...
Damn, she would be over paid if she got that much.
DeleteProbably gets to go through the lunch line. A corn dog and some tater tots. But you gotta feel bad for the kids who have to sit near her. She probably steals food off their plates. Then makes them all give her a couple bucks.
ReplyDeleteThey’re probably thinking who is this fat drunken bitch with the giant cankles? Why couldn’t our great President be here instead of this gasbag?
Just to let you all know it is hot out, Thank me later for that Info.
ReplyDeleteI'll take your word for it.
ReplyDeleteIt's a nice and cool 68 degrees over at my place though.
My wife asked me if I was gonna mow the backyard today.
Are you crazy, woman?
It's Father's Day Eve...
What, I cut mine plus weed eated it, and started organizing my sheds so I can find my stuff when I need it. But did take many breaks. I got two small windows to put into this one shed, but it has to get cooler first.
DeleteGood Morning all you Fathers out here, Have a great day and stay out of the heat.😂
ReplyDeleteI see SSAH lasted one day practicing for his retirement, but he is still a rookie.😇
ReplyDeleteGood morning Sarge.
ReplyDeleteAnd I think Safe must have woken up early yesterday and needed to take a whiz...
LOL, well I can relate to that also,My problem is I don't go back to bed most of the time, old habits are hard to break.
ReplyDeleteJust made some fudge Brownies, in the oven now before it gets to hot out side. Hot all week, but some rain possible.
ReplyDeleteWell crap... Since I declined to mow last night when my loving wife suggested it I have to do it this morning.
ReplyDeletePoor me...
Well! You should have listened to her, Mother knows best.
DeleteRule No. 1.... husbands, listen to your wives
DeleteRule No. 2.... revisit Rule No. 1
(giggles)
and that tidbit of Rikki humor comes to you without any caffeine....(LOL) just wait until I get some of that wonderful coffee in my system... snicker snicker giggles
DeleteHappy Father's Day to all you Rm. 235 Dads
ReplyDelete~hugs Rikki
Speaking of Father's Day.
ReplyDeleteToday's Father's Day edition of Room 235 (The Underground Bunker) is up and running...
New Blog up, move out!! heheheh
ReplyDelete