GDP Falls to 2.1%

Discussion in 'Current Events' started by ronv, Jul 26, 2019.

  1. yardmeat

    yardmeat Well-Known Member

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    Nah, not really. 3 was an arbitrary number thrown up for a lot of reasons (which sounds like what you are getting at anyway, so not trying to undercut).
     
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  2. Arkanis

    Arkanis Well-Known Member

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    Why cut spendings?

    Tax cuts were supposed to pay for themselves.
     
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  3. nopartisanbull

    nopartisanbull Well-Known Member

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    Hey Bud, no one can fool me with numbers;



    GDP BY YEAR (NOMIMAL/REAL)

    2016.....$18.7 Trillion/$17.6 Trillion......…..38%?????????
    2017.....$19.4 Trillion/$18.0 Trillion......…..38%?????????

    https://www.thebalance.com/us-gdp-by-year-3305543

    White House Budget, SUMMARY TABLES

    Table S–1. Budget Totals.....as a percent of GDP

    2018 Outlays; 20.3%
    2019 Outlays; 21.3%

    https://www.whitehouse.gov/wp-content/uploads/2019/03/budget-fy2020.pdf

    U.S. Spending/Federal/States/Local

    2017 Total U.S. Spending; $6.9 trillion
    2017 Real GDP $18.0 Trillion X 38% = $6.84 trillion

    https://www.usgovernmentspending.com/breakdown_2018USrt_20rs5n
     
    Last edited: Jul 26, 2019
  4. Durandal

    Durandal Well-Known Member Donor

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    He should be sued to pay that back (as much as possible) out of his own assets.
     
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  5. Zorro

    Zorro Well-Known Member

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    I'm not sure how I can help you with that. Trump's increased GDP growth by 45% despite 7 hikes by the Fed, but he' not a miracle worker. It looks like the Fed is finally going to admit that Trump's been right the whole time and lower rates, but, we'll see.
     
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  6. nopartisanbull

    nopartisanbull Well-Known Member

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    Just as I had anticipated......Trump blames the Fed



    THREAD TITLE; Stop playing partisan games with our GDP.....June 30, 2019

    Opening Post;

    During the course of the campaign, Donald Trump repeatedly made a promise that America could return to 4% GDP growth under his leadership.....

    "We're bringing it (the GDP) from 1 percent up to 4 percent. And I actually think we can go higher than 4 percent. I think you can go to 5 percent or 6 percent"

    ------------------

    Question; What will happen if 2019 GDP growth rate settles at 2.5%, thus, down 1/2 percent from last year?

    No doubt.....

    a. Democrats will remind people that Trump sold us a broken promise;

    b. Trump and his base will blame the Fed Reserve; and

    c. Independents will say; "Both a. and b. are retarded", due to the fact 2.5% is still a healthy rate of growth.

    ......according to several economists, and the Fed, the ideal GDP Growth rate is between 2 and 3%.

    https://www.thebalance.com/what-is-the-ideal-gdp-growth-rate-3306017
    https://economistsview.typepad.com/economistsview/2007/01/what_output_gro.html

    Last, which Presidents of the United States have actually kept all of the promises that they made during their elections?

    -------------------------------

    YOU PARTISAN PEOPLE ARE SO EASY TO READ
     
    Last edited: Jul 26, 2019
  7. Mrlucky

    Mrlucky Well-Known Member Past Donor

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    Hey buddy boy,
    I we could devalue the dollar if you want to play with GDP numbers.
     
    Last edited: Jul 26, 2019
  8. Quadhole

    Quadhole Well-Known Member

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    The report is a JOKE at best. With 7.9% increased Government spending using to boost the number. The entire GDP is a HOAX at trillions are borrowed and pushed into the system to Prop the market. This includes the FED, and PPT buying futures in stocks.
    Epic collapse coming and real economist will tell you so.
    Now, a republican response on here will be =
    1. what real economist is that, I dont see a post.
    2. *******s always say this.
    3. Trump knows what he is doing.
    Now, I am not a democrat and they are part of the economic hoax continuing to destroy the dollars supreme world currency status of reserve currency. Why i even bother posting here look for decent conversation is beyond me. So many paid right wing shills from the right wing think tanks. Than God the dems dont have it.
    You had all better be buying GOLD, Silver, and land... The dollars days are numbered. You have to do some research to know why. Swift is failing for the dollar, and although I like some of trumps moves, you cant do what he is doing. Complain about OBama golfing and spending, then do the same thing and expect respect.
     
  9. Quadhole

    Quadhole Well-Known Member

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    Another lame comment. Trump knows nothing about economics, absolutely nothing, why his businesses failed over and over again. Cutting rates into as he says "is a great economy, the best ever" is NOT what economy's do to maintain integrity in business and finance, they raise rates. But since the FED tried to tighten, the market went down, it should have and all other POTUS, Treasury Secretaries, and FED Chairs, would have let it takes its natural course. That would be to go lower, take out the bad businesses that borrowed too much, they fail, people reinvest, and the economy grows again.

    In place of that, they threw gas on the fire, offered to stop increasing rates, and stop QT, offer up QE and rate cuts. Of course the market will go up. That has 0 effect on the consumer and only helps the rich. It doesn't create jobs, it allows the rich to get more money cheap. borrow more, add more debt. Just like the nation is doing. That is all really BAD for people, and the GOVT.

    This is just like 2008 all over again, right wing neocons tell lies, how everything is awesome while the economy collapses underneath. It doesnt have to be banks, it can be and is, an everything bubble. When you have thousands of paid right wing neocons that go online, and on FOX news, Breitbart, and the gullible buy that news, you get failure. then they all go away once the collapses comes. We have been here done this during Bush. Obama was no better and the QE he Berneke, and Geither did destroyed the dollar going forward.
    China and Russia, along with India are moving away from it. But today, it is the same because the republicans are doing what Obama did, throw more printed money at it. That will only work so long, then there is no way to stop the crash. None, zero and everyone, like in 08 will suffer.

    Americans are just plain stupid, lets face it, people cant even understand the truth. It is too much work, so they lay trust in crooks and liars.
     
  10. BobbyJoe

    BobbyJoe Banned

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    Just as a side note, it's funny that that equates Trump to a magician. There are a number of articles by various people about that very thing. Here's one:

    Take it from a magician: Trump isn’t trying to distract us, he’s misdirecting us
    https://www.hawaiitribune-herald.co...nt-trying-to-distract-us-hes-misdirecting-us/
     
  11. ArchStanton

    ArchStanton Banned

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    FACT Hussein Obama's economy was 0% interest rates and 4 rounds of quantitive easing, i.e. printing dollars to push them into the economy....pumping up the fake economy and GDP numbers of Hussein, driving down the value of the dollar aka currency manipulation.

    FACT Trump has better numbers with the Fed raising rates 7 times and no Q.E., all with the Russia hoax front and center.

    There ain't no comparison.

    Hussein loses.
     
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  12. Cubed

    Cubed Well-Known Member Past Donor

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    Heh you are correct. It's a silly dig at those who seemed to think that Obama not hitting 3% year average was somehow a failure.

    Lol. Yeah Trump's had a real huge affect on GDP Screenshot_20190726-172102.png
     
  13. nopartisanbull

    nopartisanbull Well-Known Member

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    Quote: "The report is a JOKE at best. With 7.9% increased Government spending using to boost the number"

    Let's be honest/fair;

    There is no doubt that deficit spending has increased the GDP, however, buy how much?

    Answer; No one accurately knows, and for partisan reasons/political pressures, the Trumpers will certainly not make an effort to figure it out, thus, as an Independent, I will!

    First, here are several indisputable facts;

    Outlays as a percent of GDP
    Source; White House Budget/Office of Management and Budget/SUMMARY TABLES;

    FY2016; 20.9%
    FY2017; 21.2%
    FY2018; 20.3%
    FY2019 Estimated; 21.3%

    https://www.whitehouse.gov/wp-content/uploads/2019/03/budget-fy2020.pdf
    https://www.whitehouse.gov/sites/whitehouse.gov/files/omb/budget/fy2018/budget.pdf

    Thus, Mr. Lucky was partially right....Total spending as a percent of GDP hasn't SIGNIFICANTLY changed (Since Obama left the Oval Office), HOWEVER, the DEFICIT as a percent of GDP has SIGNIFICANTLY changed

    Same sources;

    FY2016; 3.2%
    FY2017; 3.1%
    FY2018; 3.8%
    FY2019 Estimated; 5.8%...….WOW!

    WHY?....….TAX CUTS!

    Same Sources;

    Receipts as a percent of GDP

    FY2016; 17.8%
    FY2017; 18.1%
    FY2018; 16.5%
    FY2019; 16.1%

    FY2017 versus FY2019....a difference of 2% of GDP

    Thus, $20.5 Trillion X 2% =

    PSST; STAY TUNED FOR PART 2
     
    Last edited: Jul 26, 2019
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  14. Bluesguy

    Bluesguy Well-Known Member Donor

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    The ones he and his cabinet are proposing, the ones he proposed to the Democrats in these negotiations which they of course objected to.
     
  15. Zorro

    Zorro Well-Known Member

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    Obama never hit a 3% year EVER, the first President to fail to do so.
    Have you looked at a calendar lately? Hint: It's not 2017. Trump's averaged 2.8% over his first full 9 quarters, the hapless Obama only averaged 1.9% over his final 9 full quarters.

    Trump's growth rate is 45% better than Obama's.
     
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  16. Bluesguy

    Bluesguy Well-Known Member Donor

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    And they did and then the Democrats took back the House and are trying to impeach Trump and end his policies and then take back the Senate and the White House so why are you surprised businesses are holding back on future investments.

    I'm all for talking the debt what are the Democrat presidential candidates saying they are going to do about the deficits and the debt. I'm all ears.
     
  17. Bluesguy

    Bluesguy Well-Known Member Donor

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    What we have now could be better, convince me the Democrat policies will increase it and explain how.
     
  18. Bluesguy

    Bluesguy Well-Known Member Donor

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    Some have and we have more on the table, are the Democrats going to support them?
     
  19. Cubed

    Cubed Well-Known Member Past Donor

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    Yes. GDP continues to grow at the same relatively consistent pace that it has over the last 40 years.

    Also, you fail to note that Obama's first year was when the global economy crashed. Trump was handed an economy that was on fire and getting hotter.

    But don't let that stand in the way of a good cherry picking.

    Eh. I don't think that the Dems really have economic policies at this point yet beyond the general (not Republican).

    But honestly, I'd rather it stay in the realm of smaller gains but more consistency. Less boom bust.
     
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  20. Moonglow

    Moonglow Well-Known Member

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    Only when it is during a democrat president.
     
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  21. Zorro

    Zorro Well-Known Member

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    But 45% faster since Trump took over than Obama was giving us.
    I compared Trump's first 9 full quarters with Obama's LAST 9 quarters. The recession was over by the end of Obama's first full quarter. Obama's last 9 full quarters started with Obama's 22nd quarter. The recession had ended 21 quarters earlier.
    No he wasn't. Obama's final 9 quarters only averaged 1.9%. If 1.9% is "on fire" how do you describe Trump's 2.8% which is a growth rate 45% stronger than what you claim is "on fire"?
    I cherry picked nothing. I used the entire set of Trump's full quarters and then compared them to an equal number of sequential quarters from Obama, the nearest in time.
     
    Last edited: Jul 26, 2019
  22. Arkanis

    Arkanis Well-Known Member

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    Did you know that of the wonderful 2.1% growth this quarter, 0.6% is due solely to government spending?

    If Trump cuts spending today, he's pushing the country into a recession within a year.
     
  23. ronv

    ronv Well-Known Member

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    Economic Growth Didn’t Hit 3% Mark Last Year, Revised Data Show
    President Trump has promised to boost growth to 3% or more through his policies

    The White House thought it had achieved one of its goals when the Commerce Department’s initial estimates showed GDP rose 3.1% in the fourth quarter of 2018 from the same period of 2017. That figure was later revised to 3%, and now to 2.5%.

    The average annual growth rate for GDP from 2013 to 2018 was 2.5%, up from an earlier estimate of 2.4%.

    https://www.wsj.com/articles/econom...-mark-last-year-revised-data-show-11564144200
     
  24. Arkanis

    Arkanis Well-Known Member

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    Last edited: Jul 26, 2019
  25. Bluesguy

    Bluesguy Well-Known Member Donor

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    But they did, but now has trickled off as uncertainty enters the equation. You DO hope the Democrats take the Senate and the White House don't you? They don't and just having the House in the Democrats hands adds to that uncertainty. Investing now is for 3, 4, 5 and more years down the road. Republicans take back the House and Trump wins is the better path to continued growth and increasing growth. What are the Democrat candidates offering that will continue the growth we have and in fact increase it?
     
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