As Growth Slows To 1.9%, The Economy Is Falling Short Of Trump's Target

GDP — the broadest measure of economic activity — grew at an annual rate of just 1.9% during the third quarter. That's a deceleration from the lackluster second quarter, when GDP grew at a 2% pace. At this point, it would take an economic miracle to achieve the 3.2% growth rate for the full year predicted in the president's budget.

"Oh, we won't get a 3-plus% growth rate for the year," said Diane Swonk, chief economist at Grant Thornton. "That's not going to happen."

https://apple.news/A7rlTrnqnRKSL2r9O5noQGQ

I remember when this level of growth was considered terrible
And this is happening after a massive tax cut plus lower interest rates

I kinda though we were going to get 5% growth.... what happened?
https://www.realclearpolitics.com/v...conomy_growth_of_4_5_and_maybe_6_percent.html

 

Not sure what happened, but I'm experiencing about 8%-10% so somebody else is really struggling, bummer for them.

 

Several leading economists are expecting a recession prior to the 2020 elections even with the massive deficit spending, bailouts, quantitative easing, and lowering rates for the third time... It’s going to be a bumpy ride.

What happened to the “rocket ship of an economy” that trump inherited?
Oh, he bankrupted it.

 

so, what do you think about the discrepancy between what trump promised and what he delivered (to the nation)

 

I feel a little better than I felt about the $2500 savings promise from the ACA, which didn't happen for me (it went up) but I didn't vote for him and thought it was unlikely anyway, so no big deal, i'm not bitter. I'm in the insurance biz so my opinions on the ACA were pretty well thought out.

In this case fortunately the economy & tax cuts have delivered for me in excellent fashion, so I'm appreciative.

Past that I've learned to not assume that any promise will be anything more than words, they are after all politicians.

Not that worked up over promises made by someone I didn't vote for.

I just do my thing and hope for the best.

 

lol, I find it hilarious when people expect politicians to live up to their promises. Every politician promises sunshine and rainbows. It’s all BS from every politician. They are all just trying to get elected.

that being said, I’m doing great with this president at the helm, so I’ll be voting for him again.

 

Let's not forget the ballooning deficits either.

 

The economy goes up and down and always has. I wouldn't pull my money out of stocks, let it ride. It'll come back again if it falls. It you feel it's all down hill from now on then pull out, but that would not be a wise choice. The only people who get hurt on a roller coaster are the ones who jump off.

 

Nonsense framing from the Left.

Estimates were down to 1.4%, which now that we look back on looks like nothing but suppression polls.

So we have in fact that the GDP number estimates beat forecasts by a full half percent!!!!

Consumer spending is ON FIRE! Corporate earnings are steady as the trade war continues to go on without too much effect, despite the best "framing" attempts from Neolibs and Necons like the OP.

This was incredible news and you can tell because it is hard to find "stories" that show this in a bad light.

Leave it to NPR to completely fabricate something, using Deconstruction tactics to try to figure out a way to Hate.

Great news from the economic front! And basically everyone in finance says they don't see a recession on the horizon.



With all that said .... Democrats like the OP know they have nothing to write a story of hate on, so instead they are trying to tie it to "But but but, Trump said he was going to grow at 4%!!!!"

Good luck with such fairy tales.

 

The aca turned out well for my family..

And you don’t care about the deficits..l that used to be so important?

So you agree that trump cannot be trusted?

 

No, I actually don't anymore. I realize it is a waste of time as the Petro Dollar fiat system crashes around us, I look forward to the "free spending" we can do on the International Bankers credit card for the time being.

Debt is piling up faster and faster for everyone as people realize the International Bankers fiat system is crashing all around us.

When it crashes, we can switch back to a gold standard and get off the pathetically ridiculous fiat system created in 1971 by International Bankers and the attached Deep State.

Yes, this will suck for a few years but overall, will be much less "bad" than the switch to the Petro Dollar was in the 70's, which literally created a Lost Decade for America. After which we will finally see how strong America truly is.

And yes, the rest of world will be on fire during all of this, they have been being propped up by American money for decades and the "withdrawal" will definitely suck for them.

And what do we hear?

International Bankers screaming "REEEE, REEEE, REEEE" .... All the way home

 

But isn’t it a bit interesting that people had such a different view of Obama’s promise that you could keep your doctor?

 

I think your halcyon. View of the gold standard is delusional

Suck for a few years..... I suppose that is one option. There are many other options that are substantially worse. During the 2008 crash, all the nations were more or less working together to sort things out if a bad crash (as you envision) happens today, it will be every man for himself

Yes, but we might discover that we are not so strong as we think if the dollar is worthless. In 1970 we had a strong manufacturing base. That is no longer true. Now financials and services are dominant. And n the environment that you anticipate.... these could evaporate

In a sense, yes, our (over) consumption has indeed propped up the world economy.. ... otoh that over consumption has been facilitated by the reserve currency status of the dollar, along with the reliability of dollar denominated bonds that funded our deficits and balance of trade. If dollar denominated us bonds are not reliable, if the dollar collapses.... then we will no longer live in a economic dream world ... it will be bad for everyone if your prognosis comes to pass

yeah, a lot of those international bankers live in the USA...and you will be surprised at the devastating impact of the collapse of the financial system..... and let’s admit that the current arrangement has worked pretty well for 70 years, which is not a bad record

 

2% is still steady, albeit not spectacular growth, still full employment, very low inflation, growing incomes, strong dollar...

This, in the middle of a trade war, domestic political instability, Democrac sabotage of all Trump's policies and a concerted swamp effort to talk down the economy and cause a recession is nothing short of miraculous.

 

I assumed the ACA turned out well for some people, no problem, it just didn't help me at all, if anything it was a net negative for me.

I care about deficits and my personal finances vouch for that, but I don't think that politicians do except when they are in the minority and that's just so they can name call their opponents. I can't do anything about it except not vote for them, which is exactly what I did.

I haven't trusted a politician in 34 years, which is when I first started being lied to, err... I mean when I first started voting. Bernie might be the most honest of all of them, but he's just honest about telling me that he wants more of my money. I disagree with almost every position he has and he'd probably cost me 3-4k extra a year but I at least appreciate that he's straight forward about it. He should have given the DNC the middle finger and ran 3rd party back in 2016.

 

Just saw an interview with the new head of the IMF last night on Axios TV, (they are so incredibly biased by the way) and they didn't like her answers one bit about trump and the trade wars, she was defensive of his actions, she understood exactly where he is coming from. The interviewer did not like her answer: he was hoping for a juicy insult.

 

Always somebody else's problem, never Trump's. Sad bootlickers you all are.

 

Obama: surrendered to China, no trade war, total political stability domestically... the GDP drops, incomes drop, unemployment high...

Trump: trade war, political turmoil, sabotage, deliberate concerted efforts by the swamp to drive the economy into recession .... the GDP is still growing, full employment, growing incomes.

 

Taking a slow economy from .5% growth to 2% growth is much easier than taking a vibrant economy from 2% to 3.5%.

It is not a linear trajectory.

Once the economy hits a high like we have, there is no more capacity to keep growth going.

Considering all the facts revolving around how well we are doing economically, this seems like a sour grapes attempt to find some negative.

 

Economists polled by Dow Jones had expected the first look at third-quarter growth to come in at 1.6%

The better-than-expected data was the result of continued consumer spending as well as government expenditures, the Commerce Department says.

https://www.cnbc.com/2019/10/30/us-gdp-q3-2019-first-reading.html

as well as government expenditures, the Commerce Department says
as well as government expenditures, the Commerce Department says
as well as government expenditures, the Commerce Department says
as well as government expenditures, the Commerce Department says

QUESTION; Have Trump's tax cuts SOLELY increased the GDP?

ANSWER; Negative!

US Federal Government Consumption Expenditures and Gross Investment:

Q2 2019; 1.415 trillion

Q3 2019; Undoubtedly HIGHER!



https://ycharts.com/indicators/us_federal_government_consumption_expenditures_and_gross_investment

NOTE: $1 FGCEG increases the GDP by $1

 

You mean that they are hoping for a recession. Trump inherited an economy hindered by excessive taxes. He became less of a hindrance, but its not enough. Consumer confidence is likely to be shaken up with this impeachment and American workers will once again become casualties in this war over power. I will join you in criticizing Trump for many things, but lets not pretend that Dems are any better or that they have a genuine concern for the well being of American workers.

 

It cracks me up how Americans defend the International Central Banks.

They are for GLOBAL GROWTH, which almost always comes at the expense of American growth as they redistribute American GDP numbers. We have seen our lower classes become ridiculously poor, all so International Corporations can suck up more and more wealth.

But you have the same Neolibs making up a fake narrative to act like it is "Capitalism's fault", hilarious fantasy.

They are against the trade war because it harms "global growth" while pumping up American growth. The IMF leader literally said so.

But they control the corporations, who control the Leftists.

Hilarious how NeoLibs try to claim otherwise.

 

US Tax revenue

Notice the spike after the Trump tax cuts. All you are doing is searching around for cherry picked statistics to try to scare people with the precious "narrative".

Here is what tax cuts do, even though the same Pro War Neolibs are trying to make up stories to tell otherwise.

https://ycharts.com/indicators/us_tax_revenue

https://www.usgovernmentrevenue.com..._5.10_4.89_5.60_6.06_6.01_5.98_6.46_6.68_6.84

Tax revenues collected have absolutely skyrocketed compared to before. The narrative of "But you gave rich people money!!!" Is one of the most dangerous lies that the Communists come up with.

Lower taxes equal higher growth, which equals higher revenue for the state to use on programs like welfare. But they don't care about what is good for the nation, they just care about spreading their hate.

Of course, these Communists however will try to make up stories based on random cherry picked statistics, all to try to damage the economy which would in turn, damage Trump.

It's actually incredibly disgusting.

 

So, once again savers get hurt. My Ally savings account went down to 1.8% interest a few weeks ago, and I'm not sure that any high-interest cd rates will last. It's still possible to find 2% cd rates

Obama once said that 1% growth is the new normal, and it looks like, despite the efforts, it turns out to be true.