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GDP 2nd Quarter Estimates from 3.4% to 4.4%, w/Blue Chip estimate at 3.8%

Discussion in 'Current Events' started by Grokmaster, Jul 8, 2018.

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  1. Grokmaster

    Grokmaster Well-Known Member Past Donor

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    Current 2018 2nd Quarter GDP growth estimated from 3.4% - 4.4%...with the Blue Chip estimate at 3.8%, as of Friday.





    [​IMG]

    GREAT NEWS FOR AMERICANS !!!!

    After the ANNUAL POST-HOLIDAY, FIRST QUARTER SLOWDOWN (always does , especially after the VERY STRONG-HOLIDAY SPENDING DRIVEN 4th Quarter preceding it) ...things are SCREAMIN'....

    Let me get some popcorn for all the "whine" that's about to be served...by the usual suspects. :popcorn:
     
    Last edited: Jul 8, 2018
    Grokmaster, Jul 8, 2018
    #1
  2. Grokmaster

    Grokmaster Well-Known Member Past Donor

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    Hilarious. CRICKETS from "the sky is falling" left... :)
     
    Last edited: Jul 9, 2018
    Grokmaster, Jul 9, 2018
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  3. Nonsensei436

    Nonsensei436 Well-Known Member Past Donor

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    It’s a projection from an organization called GDPNow which I’ve never heard of. If it turns out to be true, great, but it would be a pretty bizarre leap up from the 1st quarter results of 2% that I would like explained.


    In short, let’s see what happens.
     
    Nonsensei436, Jul 9, 2018
    #3
  4. drluggit

    drluggit Well-Known Member

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    The sky is falling.... for the left. The economy doing well in spite of their concerted efforts... priceless...
     
    drluggit, Jul 9, 2018
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  5. Swede Hansen

    Swede Hansen Banned at Members Request

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    Economists have been forecasting +3% growth for several months now. Looks like their estimate is on the low side. Nice!

    Since voters vote their pocketbook this is a good forward indicator for the upcoming elections. As Lizardhead once said, 'Its the economy stupid!'
     
    Last edited: Jul 9, 2018
    Swede Hansen, Jul 9, 2018
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  6. edthecynic

    edthecynic Well-Known Member

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    GDPNow predicted 5.4% GDP growth for Q1 2018, the first quarter with Tramp's tax cuts in effect, and it came out in reality as 2.0% GDP growth.
     
    edthecynic, Jul 9, 2018
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  7. Nonsensei436

    Nonsensei436 Well-Known Member Past Donor

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    Edit: misread your post.

    Alright so GDPNow has a tendency to be overly enthusiastic about gdp growth
     
    Last edited: Jul 9, 2018
    Nonsensei436, Jul 9, 2018
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  8. danielpalos

    danielpalos Banned

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    nothing but fake news.

    are they factoring for the trade wars.
     
    danielpalos, Jul 9, 2018
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  9. edthecynic

    edthecynic Well-Known Member

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    And what exactly is the difference between 2.0% and 2%??????????
    Didn't see your edit.
     
    Last edited: Jul 9, 2018
    edthecynic, Jul 9, 2018
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  10. Grokmaster

    Grokmaster Well-Known Member Past Donor

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    Oh...YOU never heard of it. Well that settles it , then. :roll:
     
    Grokmaster, Jul 9, 2018
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  11. Grokmaster

    Grokmaster Well-Known Member Past Donor

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    It was from FRIDAY. What "trade wars"? You mean the US FINALLY FIGHTING BACK, in the "trade war" that has been waged against us for DECADES?
     
    Grokmaster, Jul 9, 2018
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  12. Grokmaster

    Grokmaster Well-Known Member Past Donor

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    Nonsense, Total BULLSHIT. It was 2.2% and the FIRST QUARTER IS ALWAYS THE WEAKEST, as consumers tighten their belts after the holidays.


    Nice desperate attempt to deflect.
     
    Grokmaster, Jul 9, 2018
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  13. Grokmaster

    Grokmaster Well-Known Member Past Donor

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    Good news for America, is BAD NEWS FOR THE LEFT...as always.
     
    Grokmaster, Jul 9, 2018
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  14. danielpalos

    danielpalos Banned

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    so what. if they aren't factoring for the already slowing trade in some sectors, it is just fake news that will be revised downward, anyway.
     
    danielpalos, Jul 9, 2018
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  15. Grokmaster

    Grokmaster Well-Known Member Past Donor

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    1st quarter is ALWAYS the lowest, but was still 2.2%....and now....
     
    Grokmaster, Jul 9, 2018
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  16. danielpalos

    danielpalos Banned

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    GDPNow predicted 5.4% GDP growth for Q1 2018, the first quarter with Tramp's tax cuts in effect
     
    danielpalos, Jul 9, 2018
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  17. Grokmaster

    Grokmaster Well-Known Member Past Donor

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    Desperately trying to find some BAD NEWS...ALWAYS.

    Must suck to be a leftist.....
     
    Grokmaster, Jul 9, 2018
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  18. danielpalos

    danielpalos Banned

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    Must suck to be a right winger, with nothing but fallacy.

    GDPNow predicted 5.4% GDP growth for Q1 2018, the first quarter with Tramp's tax cuts in effect
     
    danielpalos, Jul 9, 2018
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  19. Nonsensei436

    Nonsensei436 Well-Known Member Past Donor

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    Yeah but your source said Q1 would be 5.4%.

    If their prediction trend continues into Q2 then that would put Q2 results at, well, 1.2 percent.

    Not saying it will be 1.2 percent, just using this as an example of how wrong GDPNow results were Q1. I don’t see a lot of reason to take their predictions to the bank.
     
    Nonsensei436, Jul 9, 2018
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  20. edthecynic

    edthecynic Well-Known Member

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    It IS 2.0%, I NEVER post bullshit, and I can ALWAYS back it up!

    https://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm
    Real gross domestic product (GDP) increased at an annual rate of 2.0 percent in the first quarter of 2018
    (table 1)
     
    edthecynic, Jul 9, 2018
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  21. MissingMayor

    MissingMayor Well-Known Member

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    Quarterly growth <> Annual growth.

    After the massive deficit inducing tax bill and increased military spending that number should really be a lot higher. More jobs are going overseas than are being created or coming back here.

    Btw, wasn't the stock market the indicator of the economy in 2017? We used to get updates at least once a week. What happened to those?
     
    Last edited: Jul 9, 2018
    MissingMayor, Jul 9, 2018
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  22. danielpalos

    danielpalos Banned

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    Why is the right engaging in a trade war? The rich benefit from our "dollar surplus" GDP with our commodity trade deficit.
     
    danielpalos, Jul 9, 2018
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  23. Grokmaster

    Grokmaster Well-Known Member Past Donor

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    GDP now is based on the Federal Reserve Bank of Atlanta, BTW.

    And:

    U.S. fourth-quarter growth revised up to 2.9 percent; consumer spending surges


    https://www.reuters.com/article/us-...ercent-consumer-spending-surges-idUSKBN1H41VY

    A first quarter dropoff is TYPICAL in the US, post holidays, as consumer-spending is the primary factor in US GDP.

    Want a RELIABLE INDICATOR of how things are going?

    Here ya go:


    SUV and pickup fever: U.S. auto sales beating expectations so far in 2018

    https://www.usatoday.com/story/mone...s-auto-sales-gm-ford-fiat-chrysler/662781002/


    Get ready for GREAT 2nd quarter GDP numbers.

    Sorry that it means "BAD NEWS" for the left.
     
    Grokmaster, Jul 9, 2018
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  24. edthecynic

    edthecynic Well-Known Member

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    No it isn't, BTW.
     
    edthecynic, Jul 9, 2018
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  25. edthecynic

    edthecynic Well-Known Member

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    The Right can NEVER admit they were wrong. As soon as I proved GDP was 2.0% and not the 2.2% you claimed, you make up a load of crap rather than admit your mistake.
     
    edthecynic, Jul 9, 2018
    #25
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