Q1 GDP Revised To 2.2%, Misses Across The Board

[McRocket]

'One month after the first take of Q1 GDP surprised to the upside, printing at 2.3%, more than the 2.0% consensus estimate, moments ago the BEA reported that as part of its 1st revision of Q1 GDP data, the US economy grew slightly less than expected, with GDP rising an annualized 2.2% (technically 2.17%), missing expectations of a 2.3% print, and down from last month's 2.32%.'

Q1 GDP Revised To 2.2%, Misses Across The Board


So...since Trump took office, average GDP Growth has been 2.52%.

Big deal.


I said when Trump was elected that GDP growth would be under 3% for his time in office (just as Obama's had been).
And I (and LOTS of people) were right.

Other then his corporate tax cuts - Trump has done NOTHING to help the economy (if you think his trade policies will...you are dreaming).

The economy was a semi-mess under GWB, it was a semi-mess under Obama and it is a semi-mess under Trump.
Why? Because the Federal Reserve has been running the show - more or less - since about 2001.

Nothing but a debt-fueled, money-printing, joy ride to economic mediocrity (eventual disaster?). So long as the Fed is running the show (and if you do not know they are - you are virtually clueless about the economy), America is economically screwed.

 

[Cellblock2429]

'One month after the first take of Q1 GDP surprised to the upside, printing at 2.3%, more than the 2.0% consensus estimate, moments ago the BEA reported that as part of its 1st revision of Q1 GDP data, the US economy grew slightly less than expected, with GDP rising an annualized 2.2% (technically 2.17%), missing expectations of a 2.3% print, and down from last month's 2.32%.'

Q1 GDP Revised To 2.2%, Misses Across The Board


So...since Trump took office, average GDP Growth has been 2.52%.

Big deal.


I said when Trump was elected that GDP growth would be under 3% for his time in office (just as Obama's had been).
And I (and LOTS of people) were right.

Other then his corporate tax cuts - Trump has done NOTHING to help the economy (if you think his trade policies will...you are dreaming).

The economy was a semi-mess under GWB, it was a semi-mess under Obama and it is a semi-mess under Trump.
Why? Because the Federal Reserve has been running the show - more or less - since about 2001.

Nothing but a debt-fueled, money-printing, joy ride to economic mediocrity (eventual disaster?). So long as the Fed is running the show (and if you do not know they are - you are virtually clueless about the economy), America is economically screwed.

/----/ Try and keep up with the News, Spanky:
Atlanta Fed Boosts Second Quarter GDP Forecast to 4.8% | Breitbart
The U.S. economy is expanding at a 4.8 percent annualized rate in the second quarter, the Atlanta Federal Reserve’s GDPNow forecast model showed on Friday.
The forecast has been climbing higher following the release of a series of good economic data. On May 25, the measure foresaw four percent GDP growth. This rose to 4.7 percent Thursday and ticked even higher on Friday following the better than expected jobs report for May.

The Atlanta Fed forecasts a big boost in private sector fixed investment, which includes capital investment in machinery, land, buildings, vehicles, and technology. Earlier, the Atlanta Fed saw this growing at 4.6 percent. But following the release Friday of a construction spending report from the U.S. Census Bureau and the Manufacturing ISM Report On Business from the Institute for Supply Management, this was upgraded to 5.4 percent growth.

Consumer spending is expected to grow at a 4.6 percent rate, up from 3.4 percent prior to the Friday data releases.

The New York Fed’s Nowcast also rose Friday, to 3.5 percent from 3.0 percent a week ago.

 

[task0778]

From the NY Times:

More recently, though, job growth has experienced an unexpected uptick. Employers have added an average of 207,000 jobs per month so far in 2018, up from 172,000 in the same five months a year ago. It’s too soon to say whether that acceleration is the start of a new trend or just a blip. But many economists expect the faster pace of growth to continue because of the tax cuts passed in December and the extra government spending approved by Congress in January.
.
.
All that hiring has gone a long way toward putting Americans back to work. The unemployment rate, now 3.8 percent, is the lowest since 2000. The progress is increasingly reaching groups that often face discrimination or other disadvantages in the job market: The unemployment rate for African-Americans hit its lowest level on record in May. The jobless rates for Hispanics, teenagers and those with less than a high school education are likewise at or near multidecade lows.
.
.
It’s important to note that wages are rising. Average hourly earnings were up 2.7 percent in May from a year earlier, faster than inflation. And while noisy and sometimes conflicting data make it hard to discern a clear trend, there are signs that the pace of growth is accelerating, especially for lower earners.


The Jobs Recovery: A Longer View


I'm pretty sure the average GDP growth under Trump is better than it was under Obama. From the Investor's Business Daily:

We're not quite at a sustained elevated growth rate of 3% yet, but the latest economy snapshot tells us we are knocking on the door. The growth rate over the last four quarters came in at 2.9% — which was higher than any of the eight years of the Obama presidency.

Halfway through this current quarter, which began on April 1st, the Atlanta Federal Reserve estimates growth at 4%. If that persists through the end of June, we will have reached an average growth rate of 3% under Trump.

Not bad, given that nearly every liberal Trump critic, trashed Trump's campaign forecast of 3% to 4% growth as an impossible dream.

Economists like Larry Summers, Obama's first chief economist gloomily declared that we were mired in a new era of "secular stagnation" and that 3% growth was unachievable.

Paul Krugman of the New York Times said it was more likely we would see flying cars than 3% to 4% growth.

Now for the even better news. We are already starting to see a fiscal dividend from Trump's tax, energy, and regulatory pro-business policies.

The Congressional Budget Office reports that tax revenues in April — which is by far the biggest month of the year for tax collections because of the April 15th filing deadline — totaled $515 billion which was a robust 13% rise in receipts over last year.

MoneyWeek reports that the $218 billion monthly surplus (revenues over expenditures) this April was the largest ever, with the previous record being $180 billion in 2001. (April is always the one surplus month.)

What's the simple lesson here? More growth, more tax revenue.

But there's another lesson and it is about how wrong the bean counters were in Congress who said this tax bill would "cost" the Treasury $1.5 to $2 trillion in most revenues over the next decade.

If the higher growth rate that Trump has already accomplished remains in place, then the impact will be well over $3 trillion of more revenue and thus lower debt levels over the decade. Putting people to work is the best way to balance the budget. Period.

Critics will dismiss the importance of these higher revenue collections by arguing that the new receipts are for 2017 tax payments, which don't take account of the tax cut which passed in December.

This ignores that some of the growth we have seen was a result of the anticipation of the tax cut. Moreover, the fact that the tax cuts ‎are just sinking in, means we should get even higher growth rates for the next several years at least.

Alas, it is not all good news in the April surprise. The inexcusable omnibus spending bill increased federal spending by some $300 billion in 2018 and we are starting to feel the impact of that splurge. Federal outlays are up 8.7% in April.

That's unforgivable given that Republicans run everything in Washington these days.

No one thought that Trump could ramp up the growth rate to 3 percent or that his policies would boost federal revenues. But he is doing just that — which is why all that the Democrats and the media want to talk about these days is Russia and Stormy Daniels.

Trump Policies Are Bringing Back Economy's Lost Mojo — 3% Growth Is Possible

 

[abrere]

GO, Don, we forgive your peccadilloes, but I bet that Melania doesn't and THAT woman is nobody to mess with.

 

[McRocket]

View attachment 196284

'One month after the first take of Q1 GDP surprised to the upside, printing at 2.3%, more than the 2.0% consensus estimate, moments ago the BEA reported that as part of its 1st revision of Q1 GDP data, the US economy grew slightly less than expected, with GDP rising an annualized 2.2% (technically 2.17%), missing expectations of a 2.3% print, and down from last month's 2.32%.'

Q1 GDP Revised To 2.2%, Misses Across The Board


So...since Trump took office, average GDP Growth has been 2.52%.

Big deal.


I said when Trump was elected that GDP growth would be under 3% for his time in office (just as Obama's had been).
And I (and LOTS of people) were right.

Other then his corporate tax cuts - Trump has done NOTHING to help the economy (if you think his trade policies will...you are dreaming).

The economy was a semi-mess under GWB, it was a semi-mess under Obama and it is a semi-mess under Trump.
Why? Because the Federal Reserve has been running the show - more or less - since about 2001.

Nothing but a debt-fueled, money-printing, joy ride to economic mediocrity (eventual disaster?). So long as the Fed is running the show (and if you do not know they are - you are virtually clueless about the economy), America is economically screwed.

/----/ Try and keep up with the News, Spanky:
Atlanta Fed Boosts Second Quarter GDP Forecast to 4.8% | Breitbart
The U.S. economy is expanding at a 4.8 percent annualized rate in the second quarter, the Atlanta Federal Reserve’s GDPNow forecast model showed on Friday.
The forecast has been climbing higher following the release of a series of good economic data. On May 25, the measure foresaw four percent GDP growth. This rose to 4.7 percent Thursday and ticked even higher on Friday following the better than expected jobs report for May.

The Atlanta Fed forecasts a big boost in private sector fixed investment, which includes capital investment in machinery, land, buildings, vehicles, and technology. Earlier, the Atlanta Fed saw this growing at 4.6 percent. But following the release Friday of a construction spending report from the U.S. Census Bureau and the Manufacturing ISM Report On Business from the Institute for Supply Management, this was upgraded to 5.4 percent growth.

Consumer spending is expected to grow at a 4.6 percent rate, up from 3.4 percent prior to the Friday data releases.

The New York Fed’s Nowcast also rose Friday, to 3.5 percent from 3.0 percent a week ago.
View attachment 196284

What a economic moron you are. You clearly have NO IDEA WHATSOEVER what the GDPNow even is.

From their website:

'GDPNow is not an official forecast of the Atlanta Fed. Rather, it is best viewed as a running estimate of real GDP growth based on available data for the current measured quarter.'

GDPNow - Federal Reserve Bank of Atlanta

It's not a prediction of the entire 1/4 GDP, you economic doofus. It's simply what the GDP growth would be today based on the available data to this point. You cannot accurately predict what an entire 1/4 of GDP growth would be in the first month of the quarter...DUH.

The Atlanta Fed almost ALWAYS starts every 1/4 FAR higher then it ends.

The last 1/4 it's opening data point was 5.4%. But it ended at 2.2%.

Economy to grow at 5.4% rate in first quarter, Atlanta Fed tracker shows

It means NOTHING...economic simpleton.


Jeez...God save us from economic ignoramuses like you.

Stop getting your economic information from the MSM/Breitbart...they are CLUELESS.

 

[Cellblock2429]

View attachment 196284

'One month after the first take of Q1 GDP surprised to the upside, printing at 2.3%, more than the 2.0% consensus estimate, moments ago the BEA reported that as part of its 1st revision of Q1 GDP data, the US economy grew slightly less than expected, with GDP rising an annualized 2.2% (technically 2.17%), missing expectations of a 2.3% print, and down from last month's 2.32%.'

Q1 GDP Revised To 2.2%, Misses Across The Board


So...since Trump took office, average GDP Growth has been 2.52%.

Big deal.


I said when Trump was elected that GDP growth would be under 3% for his time in office (just as Obama's had been).
And I (and LOTS of people) were right.

Other then his corporate tax cuts - Trump has done NOTHING to help the economy (if you think his trade policies will...you are dreaming).

The economy was a semi-mess under GWB, it was a semi-mess under Obama and it is a semi-mess under Trump.
Why? Because the Federal Reserve has been running the show - more or less - since about 2001.

Nothing but a debt-fueled, money-printing, joy ride to economic mediocrity (eventual disaster?). So long as the Fed is running the show (and if you do not know they are - you are virtually clueless about the economy), America is economically screwed.

/----/ Try and keep up with the News, Spanky:
Atlanta Fed Boosts Second Quarter GDP Forecast to 4.8% | Breitbart
The U.S. economy is expanding at a 4.8 percent annualized rate in the second quarter, the Atlanta Federal Reserve’s GDPNow forecast model showed on Friday.
The forecast has been climbing higher following the release of a series of good economic data. On May 25, the measure foresaw four percent GDP growth. This rose to 4.7 percent Thursday and ticked even higher on Friday following the better than expected jobs report for May.

The Atlanta Fed forecasts a big boost in private sector fixed investment, which includes capital investment in machinery, land, buildings, vehicles, and technology. Earlier, the Atlanta Fed saw this growing at 4.6 percent. But following the release Friday of a construction spending report from the U.S. Census Bureau and the Manufacturing ISM Report On Business from the Institute for Supply Management, this was upgraded to 5.4 percent growth.

Consumer spending is expected to grow at a 4.6 percent rate, up from 3.4 percent prior to the Friday data releases.

The New York Fed’s Nowcast also rose Friday, to 3.5 percent from 3.0 percent a week ago.
View attachment 196284

What a economic moron you are. You clearly have NO IDEA WHATSOEVER what the GDPNow even is.

From their website:

'GDPNow is not an official forecast of the Atlanta Fed. Rather, it is best viewed as a running estimate of real GDP growth based on available data for the current measured quarter.'

GDPNow - Federal Reserve Bank of Atlanta

It's not a prediction of the entire 1/4 GDP, you economic doofus. It's simply what the GDP growth would be today based on the available data to this point. You cannot accurately predict what an entire 1/4 of GDP growth would be in the first month of the quarter...DUH.

The Atlanta Fed almost ALWAYS starts every 1/4 FAR higher then it ends.

The last 1/4 it's opening data point was 5.4%. But it ended at 2.2%.

Economy to grow at 5.4% rate in first quarter, Atlanta Fed tracker shows

It means NOTHING...economic simpleton.


Jeez...God save us from economic ignoramuses like you.

Stop getting your economic information from the MSM/Breitbart...they are CLUELESS.

/---/ It means nothing so that's why they published it. BWHAHAHAHAHAHA BTW I know what it is and its relevance.

 

[McRocket]

View attachment 196284

'One month after the first take of Q1 GDP surprised to the upside, printing at 2.3%, more than the 2.0% consensus estimate, moments ago the BEA reported that as part of its 1st revision of Q1 GDP data, the US economy grew slightly less than expected, with GDP rising an annualized 2.2% (technically 2.17%), missing expectations of a 2.3% print, and down from last month's 2.32%.'

Q1 GDP Revised To 2.2%, Misses Across The Board


So...since Trump took office, average GDP Growth has been 2.52%.

Big deal.


I said when Trump was elected that GDP growth would be under 3% for his time in office (just as Obama's had been).
And I (and LOTS of people) were right.

Other then his corporate tax cuts - Trump has done NOTHING to help the economy (if you think his trade policies will...you are dreaming).

The economy was a semi-mess under GWB, it was a semi-mess under Obama and it is a semi-mess under Trump.
Why? Because the Federal Reserve has been running the show - more or less - since about 2001.

Nothing but a debt-fueled, money-printing, joy ride to economic mediocrity (eventual disaster?). So long as the Fed is running the show (and if you do not know they are - you are virtually clueless about the economy), America is economically screwed.

/----/ Try and keep up with the News, Spanky:
Atlanta Fed Boosts Second Quarter GDP Forecast to 4.8% | Breitbart
The U.S. economy is expanding at a 4.8 percent annualized rate in the second quarter, the Atlanta Federal Reserve’s GDPNow forecast model showed on Friday.
The forecast has been climbing higher following the release of a series of good economic data. On May 25, the measure foresaw four percent GDP growth. This rose to 4.7 percent Thursday and ticked even higher on Friday following the better than expected jobs report for May.

The Atlanta Fed forecasts a big boost in private sector fixed investment, which includes capital investment in machinery, land, buildings, vehicles, and technology. Earlier, the Atlanta Fed saw this growing at 4.6 percent. But following the release Friday of a construction spending report from the U.S. Census Bureau and the Manufacturing ISM Report On Business from the Institute for Supply Management, this was upgraded to 5.4 percent growth.

Consumer spending is expected to grow at a 4.6 percent rate, up from 3.4 percent prior to the Friday data releases.

The New York Fed’s Nowcast also rose Friday, to 3.5 percent from 3.0 percent a week ago.
View attachment 196284

What a economic moron you are. You clearly have NO IDEA WHATSOEVER what the GDPNow even is.

From their website:

'GDPNow is not an official forecast of the Atlanta Fed. Rather, it is best viewed as a running estimate of real GDP growth based on available data for the current measured quarter.'

GDPNow - Federal Reserve Bank of Atlanta

It's not a prediction of the entire 1/4 GDP, you economic doofus. It's simply what the GDP growth would be today based on the available data to this point. You cannot accurately predict what an entire 1/4 of GDP growth would be in the first month of the quarter...DUH.

The Atlanta Fed almost ALWAYS starts every 1/4 FAR higher then it ends.

The last 1/4 it's opening data point was 5.4%. But it ended at 2.2%.

Economy to grow at 5.4% rate in first quarter, Atlanta Fed tracker shows

It means NOTHING...economic simpleton.


Jeez...God save us from economic ignoramuses like you.

Stop getting your economic information from the MSM/Breitbart...they are CLUELESS.

/---/ It means nothing so that's why they published it. BWHAHAHAHAHAHA BTW I know what it is and its relevance.

Bullshit.

You haven't a fucking clue what it is. Or if you do - it is because I just schooled you on it.


Bu bye.

 

[Cellblock2429]

View attachment 196284

'One month after the first take of Q1 GDP surprised to the upside, printing at 2.3%, more than the 2.0% consensus estimate, moments ago the BEA reported that as part of its 1st revision of Q1 GDP data, the US economy grew slightly less than expected, with GDP rising an annualized 2.2% (technically 2.17%), missing expectations of a 2.3% print, and down from last month's 2.32%.'

Q1 GDP Revised To 2.2%, Misses Across The Board


So...since Trump took office, average GDP Growth has been 2.52%.

Big deal.


I said when Trump was elected that GDP growth would be under 3% for his time in office (just as Obama's had been).
And I (and LOTS of people) were right.

Other then his corporate tax cuts - Trump has done NOTHING to help the economy (if you think his trade policies will...you are dreaming).

The economy was a semi-mess under GWB, it was a semi-mess under Obama and it is a semi-mess under Trump.
Why? Because the Federal Reserve has been running the show - more or less - since about 2001.

Nothing but a debt-fueled, money-printing, joy ride to economic mediocrity (eventual disaster?). So long as the Fed is running the show (and if you do not know they are - you are virtually clueless about the economy), America is economically screwed.

/----/ Try and keep up with the News, Spanky:
Atlanta Fed Boosts Second Quarter GDP Forecast to 4.8% | Breitbart
The U.S. economy is expanding at a 4.8 percent annualized rate in the second quarter, the Atlanta Federal Reserve’s GDPNow forecast model showed on Friday.
The forecast has been climbing higher following the release of a series of good economic data. On May 25, the measure foresaw four percent GDP growth. This rose to 4.7 percent Thursday and ticked even higher on Friday following the better than expected jobs report for May.

The Atlanta Fed forecasts a big boost in private sector fixed investment, which includes capital investment in machinery, land, buildings, vehicles, and technology. Earlier, the Atlanta Fed saw this growing at 4.6 percent. But following the release Friday of a construction spending report from the U.S. Census Bureau and the Manufacturing ISM Report On Business from the Institute for Supply Management, this was upgraded to 5.4 percent growth.

Consumer spending is expected to grow at a 4.6 percent rate, up from 3.4 percent prior to the Friday data releases.

The New York Fed’s Nowcast also rose Friday, to 3.5 percent from 3.0 percent a week ago.
View attachment 196284

What a economic moron you are. You clearly have NO IDEA WHATSOEVER what the GDPNow even is.

From their website:

'GDPNow is not an official forecast of the Atlanta Fed. Rather, it is best viewed as a running estimate of real GDP growth based on available data for the current measured quarter.'

GDPNow - Federal Reserve Bank of Atlanta

It's not a prediction of the entire 1/4 GDP, you economic doofus. It's simply what the GDP growth would be today based on the available data to this point. You cannot accurately predict what an entire 1/4 of GDP growth would be in the first month of the quarter...DUH.

The Atlanta Fed almost ALWAYS starts every 1/4 FAR higher then it ends.

The last 1/4 it's opening data point was 5.4%. But it ended at 2.2%.

Economy to grow at 5.4% rate in first quarter, Atlanta Fed tracker shows

It means NOTHING...economic simpleton.


Jeez...God save us from economic ignoramuses like you.

Stop getting your economic information from the MSM/Breitbart...they are CLUELESS.

/---/ It means nothing so that's why they published it. BWHAHAHAHAHAHA BTW I know what it is and its relevance.

Bullshit.

You haven't a fucking clue what it is. Or if you do - it is because I just schooled you on it.


We are done now...I try not to waste my time on losers like you.

Bu bye.

/----/ It's still a forecast by experts at the Federal Reserve. And here is their track record.

 

[IsaacNewton]

'One month after the first take of Q1 GDP surprised to the upside, printing at 2.3%, more than the 2.0% consensus estimate, moments ago the BEA reported that as part of its 1st revision of Q1 GDP data, the US economy grew slightly less than expected, with GDP rising an annualized 2.2% (technically 2.17%), missing expectations of a 2.3% print, and down from last month's 2.32%.'

Q1 GDP Revised To 2.2%, Misses Across The Board


So...since Trump took office, average GDP Growth has been 2.52%.

Big deal.


I said when Trump was elected that GDP growth would be under 3% for his time in office (just as Obama's had been).
And I (and LOTS of people) were right.

Other then his corporate tax cuts - Trump has done NOTHING to help the economy (if you think his trade policies will...you are dreaming).

The economy was a semi-mess under GWB, it was a semi-mess under Obama and it is a semi-mess under Trump.
Why? Because the Federal Reserve has been running the show - more or less - since about 2001.

Nothing but a debt-fueled, money-printing, joy ride to economic mediocrity (eventual disaster?). So long as the Fed is running the show (and if you do not know they are - you are virtually clueless about the economy), America is economically screwed.

Cons will be fuming "NOOO, NOO, it's really 252% you just don't read guud."

 

[McRocket]

From the NY Times:

More recently, though, job growth has experienced an unexpected uptick. Employers have added an average of 207,000 jobs per month so far in 2018, up from 172,000 in the same five months a year ago. It’s too soon to say whether that acceleration is the start of a new trend or just a blip. But many economists expect the faster pace of growth to continue because of the tax cuts passed in December and the extra government spending approved by Congress in January.
.
.
All that hiring has gone a long way toward putting Americans back to work. The unemployment rate, now 3.8 percent, is the lowest since 2000. The progress is increasingly reaching groups that often face discrimination or other disadvantages in the job market: The unemployment rate for African-Americans hit its lowest level on record in May. The jobless rates for Hispanics, teenagers and those with less than a high school education are likewise at or near multidecade lows.
.
.
It’s important to note that wages are rising. Average hourly earnings were up 2.7 percent in May from a year earlier, faster than inflation. And while noisy and sometimes conflicting data make it hard to discern a clear trend, there are signs that the pace of growth is accelerating, especially for lower earners.


The Jobs Recovery: A Longer View


I'm pretty sure the average GDP growth under Trump is better than it was under Obama. From the Investor's Business Daily:

We're not quite at a sustained elevated growth rate of 3% yet, but the latest economy snapshot tells us we are knocking on the door. The growth rate over the last four quarters came in at 2.9% — which was higher than any of the eight years of the Obama presidency.

Halfway through this current quarter, which began on April 1st, the Atlanta Federal Reserve estimates growth at 4%. If that persists through the end of June, we will have reached an average growth rate of 3% under Trump.

Not bad, given that nearly every liberal Trump critic, trashed Trump's campaign forecast of 3% to 4% growth as an impossible dream.

Economists like Larry Summers, Obama's first chief economist gloomily declared that we were mired in a new era of "secular stagnation" and that 3% growth was unachievable.

Paul Krugman of the New York Times said it was more likely we would see flying cars than 3% to 4% growth.

Now for the even better news. We are already starting to see a fiscal dividend from Trump's tax, energy, and regulatory pro-business policies.

The Congressional Budget Office reports that tax revenues in April — which is by far the biggest month of the year for tax collections because of the April 15th filing deadline — totaled $515 billion which was a robust 13% rise in receipts over last year.

MoneyWeek reports that the $218 billion monthly surplus (revenues over expenditures) this April was the largest ever, with the previous record being $180 billion in 2001. (April is always the one surplus month.)

What's the simple lesson here? More growth, more tax revenue.

But there's another lesson and it is about how wrong the bean counters were in Congress who said this tax bill would "cost" the Treasury $1.5 to $2 trillion in most revenues over the next decade.

If the higher growth rate that Trump has already accomplished remains in place, then the impact will be well over $3 trillion of more revenue and thus lower debt levels over the decade. Putting people to work is the best way to balance the budget. Period.

Critics will dismiss the importance of these higher revenue collections by arguing that the new receipts are for 2017 tax payments, which don't take account of the tax cut which passed in December.

This ignores that some of the growth we have seen was a result of the anticipation of the tax cut. Moreover, the fact that the tax cuts ‎are just sinking in, means we should get even higher growth rates for the next several years at least.

Alas, it is not all good news in the April surprise. The inexcusable omnibus spending bill increased federal spending by some $300 billion in 2018 and we are starting to feel the impact of that splurge. Federal outlays are up 8.7% in April.

That's unforgivable given that Republicans run everything in Washington these days.

No one thought that Trump could ramp up the growth rate to 3 percent or that his policies would boost federal revenues. But he is doing just that — which is why all that the Democrats and the media want to talk about these days is Russia and Stormy Daniels.

Trump Policies Are Bringing Back Economy's Lost Mojo — 3% Growth Is Possible

This article is from Stephen Moore. Stephen Moore works for the Heritage Foundation. A conservative think tank...his writings are ridiculously biased.

Anyone who reads economic articles from biased think tanks (either con or lib) is usually wasting their time.

He typed the following:

'No one thought that Trump could ramp up the growth rate to 3 percent or that his policies would boost federal revenues. But he is doing just that — '


One - it's dead wrong. I know LOTS of people who thought Trump would get 3% GDP growth.

Two - Trump has NOT got GDP growth to 3%. It is averaging a paltry 2.52% (which is almost exactly what Obama did). Plus, his idiotic budgets are due to run huge deficits (only economic/fiscal morons cut taxes without cutting spending to match).

The ONLY major thing Trump did so far that was good for the economy is cut the corporate tax. Every, single other major thing he has done has either done little or made things worse (like his INCREDIBLY, stupid trade war bullshit).

 

[McRocket]

View attachment 196284

'One month after the first take of Q1 GDP surprised to the upside, printing at 2.3%, more than the 2.0% consensus estimate, moments ago the BEA reported that as part of its 1st revision of Q1 GDP data, the US economy grew slightly less than expected, with GDP rising an annualized 2.2% (technically 2.17%), missing expectations of a 2.3% print, and down from last month's 2.32%.'

Q1 GDP Revised To 2.2%, Misses Across The Board


So...since Trump took office, average GDP Growth has been 2.52%.

Big deal.


I said when Trump was elected that GDP growth would be under 3% for his time in office (just as Obama's had been).
And I (and LOTS of people) were right.

Other then his corporate tax cuts - Trump has done NOTHING to help the economy (if you think his trade policies will...you are dreaming).

The economy was a semi-mess under GWB, it was a semi-mess under Obama and it is a semi-mess under Trump.
Why? Because the Federal Reserve has been running the show - more or less - since about 2001.

Nothing but a debt-fueled, money-printing, joy ride to economic mediocrity (eventual disaster?). So long as the Fed is running the show (and if you do not know they are - you are virtually clueless about the economy), America is economically screwed.

/----/ Try and keep up with the News, Spanky:
Atlanta Fed Boosts Second Quarter GDP Forecast to 4.8% | Breitbart
The U.S. economy is expanding at a 4.8 percent annualized rate in the second quarter, the Atlanta Federal Reserve’s GDPNow forecast model showed on Friday.
The forecast has been climbing higher following the release of a series of good economic data. On May 25, the measure foresaw four percent GDP growth. This rose to 4.7 percent Thursday and ticked even higher on Friday following the better than expected jobs report for May.

The Atlanta Fed forecasts a big boost in private sector fixed investment, which includes capital investment in machinery, land, buildings, vehicles, and technology. Earlier, the Atlanta Fed saw this growing at 4.6 percent. But following the release Friday of a construction spending report from the U.S. Census Bureau and the Manufacturing ISM Report On Business from the Institute for Supply Management, this was upgraded to 5.4 percent growth.

Consumer spending is expected to grow at a 4.6 percent rate, up from 3.4 percent prior to the Friday data releases.

The New York Fed’s Nowcast also rose Friday, to 3.5 percent from 3.0 percent a week ago.
View attachment 196284

What a economic moron you are. You clearly have NO IDEA WHATSOEVER what the GDPNow even is.

From their website:

'GDPNow is not an official forecast of the Atlanta Fed. Rather, it is best viewed as a running estimate of real GDP growth based on available data for the current measured quarter.'

GDPNow - Federal Reserve Bank of Atlanta

It's not a prediction of the entire 1/4 GDP, you economic doofus. It's simply what the GDP growth would be today based on the available data to this point. You cannot accurately predict what an entire 1/4 of GDP growth would be in the first month of the quarter...DUH.

The Atlanta Fed almost ALWAYS starts every 1/4 FAR higher then it ends.

The last 1/4 it's opening data point was 5.4%. But it ended at 2.2%.

Economy to grow at 5.4% rate in first quarter, Atlanta Fed tracker shows

It means NOTHING...economic simpleton.


Jeez...God save us from economic ignoramuses like you.

Stop getting your economic information from the MSM/Breitbart...they are CLUELESS.

/---/ It means nothing so that's why they published it. BWHAHAHAHAHAHA BTW I know what it is and its relevance.

Bullshit.

You haven't a fucking clue what it is. Or if you do - it is because I just schooled you on it.


We are done now...I try not to waste my time on losers like you.

Bu bye.

/----/ It's still a forecast by experts at the Federal Reserve. And here is their track record.
View attachment 196326

HELLO!!!

Try reading your own graph.

The line represents the FINAL GDPNow Forecast. That is the one they make about 2 weeks before the 1/4 ends.

That is NOT the one they make when the 1/4 begins.

Here is how the GDPNow progressed in 2018 Q1

You see where it started? Do you see where it ended?

Your precious graph above is referring to where it ENDED.

Got it now?

Here is some free advice...you do not understand what you are talking about...AT ALL. Quit before you continue to make yourself look foolish on this.

 

[Cellblock2429]

View attachment 196284 /----/ Try and keep up with the News, Spanky:
Atlanta Fed Boosts Second Quarter GDP Forecast to 4.8% | Breitbart
The U.S. economy is expanding at a 4.8 percent annualized rate in the second quarter, the Atlanta Federal Reserve’s GDPNow forecast model showed on Friday.
The forecast has been climbing higher following the release of a series of good economic data. On May 25, the measure foresaw four percent GDP growth. This rose to 4.7 percent Thursday and ticked even higher on Friday following the better than expected jobs report for May.

The Atlanta Fed forecasts a big boost in private sector fixed investment, which includes capital investment in machinery, land, buildings, vehicles, and technology. Earlier, the Atlanta Fed saw this growing at 4.6 percent. But following the release Friday of a construction spending report from the U.S. Census Bureau and the Manufacturing ISM Report On Business from the Institute for Supply Management, this was upgraded to 5.4 percent growth.

Consumer spending is expected to grow at a 4.6 percent rate, up from 3.4 percent prior to the Friday data releases.

The New York Fed’s Nowcast also rose Friday, to 3.5 percent from 3.0 percent a week ago.
View attachment 196284

What a economic moron you are. You clearly have NO IDEA WHATSOEVER what the GDPNow even is.

From their website:

'GDPNow is not an official forecast of the Atlanta Fed. Rather, it is best viewed as a running estimate of real GDP growth based on available data for the current measured quarter.'

GDPNow - Federal Reserve Bank of Atlanta

It's not a prediction of the entire 1/4 GDP, you economic doofus. It's simply what the GDP growth would be today based on the available data to this point. You cannot accurately predict what an entire 1/4 of GDP growth would be in the first month of the quarter...DUH.

The Atlanta Fed almost ALWAYS starts every 1/4 FAR higher then it ends.

The last 1/4 it's opening data point was 5.4%. But it ended at 2.2%.

Economy to grow at 5.4% rate in first quarter, Atlanta Fed tracker shows

It means NOTHING...economic simpleton.


Jeez...God save us from economic ignoramuses like you.

Stop getting your economic information from the MSM/Breitbart...they are CLUELESS.

/---/ It means nothing so that's why they published it. BWHAHAHAHAHAHA BTW I know what it is and its relevance.

Bullshit.

You haven't a fucking clue what it is. Or if you do - it is because I just schooled you on it.


We are done now...I try not to waste my time on losers like you.

Bu bye.

/----/ It's still a forecast by experts at the Federal Reserve. And here is their track record.
View attachment 196326

HELLO!!!

Try reading your own graph.

The line represents the FINAL GDPNow Forecast. That is the one they make about 2 weeks before the 1/4 ends.

That is NOT the one they make when the 1/4 begins.

Here is how the GDPNow progressed in 2018 Q1

You see where it started? Do you see where it ended?

Your precious graph above is referring to where it ENDED.

Got it now?

Here is some free advice...you do not understand what you are talking about...AT ALL. Quit before you continue to make yourself look foolish on this.

/----/ First of all it's a forecast from the Fed Reserve NOT Breitbart. And you call me a moron. BWHAHAHAHAHAHA And their chart shows they are close to the final numbers. Now go have a nice cry.

 

[McRocket]

What a economic moron you are. You clearly have NO IDEA WHATSOEVER what the GDPNow even is.

From their website:

'GDPNow is not an official forecast of the Atlanta Fed. Rather, it is best viewed as a running estimate of real GDP growth based on available data for the current measured quarter.'

GDPNow - Federal Reserve Bank of Atlanta

It's not a prediction of the entire 1/4 GDP, you economic doofus. It's simply what the GDP growth would be today based on the available data to this point. You cannot accurately predict what an entire 1/4 of GDP growth would be in the first month of the quarter...DUH.

The Atlanta Fed almost ALWAYS starts every 1/4 FAR higher then it ends.

The last 1/4 it's opening data point was 5.4%. But it ended at 2.2%.

Economy to grow at 5.4% rate in first quarter, Atlanta Fed tracker shows

It means NOTHING...economic simpleton.


Jeez...God save us from economic ignoramuses like you.

Stop getting your economic information from the MSM/Breitbart...they are CLUELESS.

/---/ It means nothing so that's why they published it. BWHAHAHAHAHAHA BTW I know what it is and its relevance.

Bullshit.

You haven't a fucking clue what it is. Or if you do - it is because I just schooled you on it.


We are done now...I try not to waste my time on losers like you.

Bu bye.

/----/ It's still a forecast by experts at the Federal Reserve. And here is their track record.
View attachment 196326

HELLO!!!

Try reading your own graph.

The line represents the FINAL GDPNow Forecast. That is the one they make about 2 weeks before the 1/4 ends.

That is NOT the one they make when the 1/4 begins.

Here is how the GDPNow progressed in 2018 Q1

You see where it started? Do you see where it ended?

Your precious graph above is referring to where it ENDED.

Got it now?

Here is some free advice...you do not understand what you are talking about...AT ALL. Quit before you continue to make yourself look foolish on this.

/----/ First of all it's a forecast from the Fed Reserve NOT Breitbart. And you call me a moron. BWHAHAHAHAHAHA And their chart shows they are close to the final numbers. Now go have a nice cry.
View attachment 196345

Holy shit are you dumb...I never said it was from Breitbart. I posted it from their site...how can I not know it is from them...DUH?
But your article you quoted above IS from Breitbart. That is why I mentioned Breitbart.


Hello? Can you not read?

Your graph refers to the FINAL ESTIMATE OF THE ATLANTA FED. That is not until the quarter is almost over. It is NOT referring to their initial quote...which you used above.

Holy shit are you stupid (apparently).

 

[Cellblock2429]

/---/ It means nothing so that's why they published it. BWHAHAHAHAHAHA BTW I know what it is and its relevance.

Bullshit.

You haven't a fucking clue what it is. Or if you do - it is because I just schooled you on it.


We are done now...I try not to waste my time on losers like you.

Bu bye.

/----/ It's still a forecast by experts at the Federal Reserve. And here is their track record.
View attachment 196326

HELLO!!!

Try reading your own graph.

The line represents the FINAL GDPNow Forecast. That is the one they make about 2 weeks before the 1/4 ends.

That is NOT the one they make when the 1/4 begins.

Here is how the GDPNow progressed in 2018 Q1

You see where it started? Do you see where it ended?

Your precious graph above is referring to where it ENDED.

Got it now?

Here is some free advice...you do not understand what you are talking about...AT ALL. Quit before you continue to make yourself look foolish on this.

/----/ First of all it's a forecast from the Fed Reserve NOT Breitbart. And you call me a moron. BWHAHAHAHAHAHA And their chart shows they are close to the final numbers. Now go have a nice cry.
View attachment 196345

Holy shit are you dumb...I never said it was from Breitbart. I posted it from their site...how can I not know it is from them...DUH?
But your article you quoted above IS from Breitbart. That is why I mentioned Breitbart.


Hello? Can you not read?

Your graph refers to the FINAL ESTIMATE OF THE ATLANTA FED. That is not until the quarter is almost over. It is NOT referring to their initial quote...which you used above.

Holy shit are you stupid (apparently).

/——/ Go back to your post #5 and stop lashing out: “Stop getting your economic information from the MSM/Breitbart...they are CLUELESS.” You may now apologize.

 

[task0778]

From the NY Times:

More recently, though, job growth has experienced an unexpected uptick. Employers have added an average of 207,000 jobs per month so far in 2018, up from 172,000 in the same five months a year ago. It’s too soon to say whether that acceleration is the start of a new trend or just a blip. But many economists expect the faster pace of growth to continue because of the tax cuts passed in December and the extra government spending approved by Congress in January.
.
.
All that hiring has gone a long way toward putting Americans back to work. The unemployment rate, now 3.8 percent, is the lowest since 2000. The progress is increasingly reaching groups that often face discrimination or other disadvantages in the job market: The unemployment rate for African-Americans hit its lowest level on record in May. The jobless rates for Hispanics, teenagers and those with less than a high school education are likewise at or near multidecade lows.
.
.
It’s important to note that wages are rising. Average hourly earnings were up 2.7 percent in May from a year earlier, faster than inflation. And while noisy and sometimes conflicting data make it hard to discern a clear trend, there are signs that the pace of growth is accelerating, especially for lower earners.


The Jobs Recovery: A Longer View


I'm pretty sure the average GDP growth under Trump is better than it was under Obama. From the Investor's Business Daily:

We're not quite at a sustained elevated growth rate of 3% yet, but the latest economy snapshot tells us we are knocking on the door. The growth rate over the last four quarters came in at 2.9% — which was higher than any of the eight years of the Obama presidency.

Halfway through this current quarter, which began on April 1st, the Atlanta Federal Reserve estimates growth at 4%. If that persists through the end of June, we will have reached an average growth rate of 3% under Trump.

Not bad, given that nearly every liberal Trump critic, trashed Trump's campaign forecast of 3% to 4% growth as an impossible dream.

Economists like Larry Summers, Obama's first chief economist gloomily declared that we were mired in a new era of "secular stagnation" and that 3% growth was unachievable.

Paul Krugman of the New York Times said it was more likely we would see flying cars than 3% to 4% growth.

Now for the even better news. We are already starting to see a fiscal dividend from Trump's tax, energy, and regulatory pro-business policies.

The Congressional Budget Office reports that tax revenues in April — which is by far the biggest month of the year for tax collections because of the April 15th filing deadline — totaled $515 billion which was a robust 13% rise in receipts over last year.

MoneyWeek reports that the $218 billion monthly surplus (revenues over expenditures) this April was the largest ever, with the previous record being $180 billion in 2001. (April is always the one surplus month.)

What's the simple lesson here? More growth, more tax revenue.

But there's another lesson and it is about how wrong the bean counters were in Congress who said this tax bill would "cost" the Treasury $1.5 to $2 trillion in most revenues over the next decade.

If the higher growth rate that Trump has already accomplished remains in place, then the impact will be well over $3 trillion of more revenue and thus lower debt levels over the decade. Putting people to work is the best way to balance the budget. Period.

Critics will dismiss the importance of these higher revenue collections by arguing that the new receipts are for 2017 tax payments, which don't take account of the tax cut which passed in December.

This ignores that some of the growth we have seen was a result of the anticipation of the tax cut. Moreover, the fact that the tax cuts ‎are just sinking in, means we should get even higher growth rates for the next several years at least.

Alas, it is not all good news in the April surprise. The inexcusable omnibus spending bill increased federal spending by some $300 billion in 2018 and we are starting to feel the impact of that splurge. Federal outlays are up 8.7% in April.

That's unforgivable given that Republicans run everything in Washington these days.

No one thought that Trump could ramp up the growth rate to 3 percent or that his policies would boost federal revenues. But he is doing just that — which is why all that the Democrats and the media want to talk about these days is Russia and Stormy Daniels.

Trump Policies Are Bringing Back Economy's Lost Mojo — 3% Growth Is Possible

This article is from Stephen Moore. Stephen Moore works for the Heritage Foundation. A conservative think tank...his writings are ridiculously biased.

Anyone who reads economic articles from biased think tanks (either con or lib) is usually wasting their time.

He typed the following:

'No one thought that Trump could ramp up the growth rate to 3 percent or that his policies would boost federal revenues. But he is doing just that — '


One - it's dead wrong. I know LOTS of people who thought Trump would get 3% GDP growth.

Two - Trump has NOT got GDP growth to 3%. It is averaging a paltry 2.52% (which is almost exactly what Obama did). Plus, his idiotic budgets are due to run huge deficits (only economic/fiscal morons cut taxes without cutting spending to match).

The ONLY major thing Trump did so far that was good for the economy is cut the corporate tax. Every, single other major thing he has done has either done little or made things worse (like his INCREDIBLY, stupid trade war bullshit).

So you know LOTS of liberal Trump critics who thought Trump would get an average of 3% GDP growth? Care to name a few, along with a link that proves it?

This is what Moore actually said: "Halfway through this current quarter, which began on April 1st, the Atlanta Federal Reserve estimates growth at 4%. If that persists through the end of June, we will have reached an average growth rate of 3% under Trump."

And BTW, since the recession ended in June 2009, Obama's average growth rate was somewhere right close to 2%, it sure as hell wasn't anywhere near 2.52% as you claim.

Finally, cutting regulations has been a really major thing, something Obama never did. In fact, he made it so much worse, adding so many regs that the cost of compliance was ridiculously high. And he also cut income taxes for a lot of middle class people too, people are taking home more money in their paychecks thanks to his tax cuts. Maybe you didn't notice, but consumer spending is up and that tax cut is a very big reason for that. So are wages, something Obama didn't do either, except for the very wealthy.

Lib/dems can run against Trumps economic policies if they want to, but it's a real losing argument. But hey, go for it dude.

 

[McRocket]

Bullshit.

You haven't a fucking clue what it is. Or if you do - it is because I just schooled you on it.


We are done now...I try not to waste my time on losers like you.

Bu bye.

/----/ It's still a forecast by experts at the Federal Reserve. And here is their track record.
View attachment 196326

HELLO!!!

Try reading your own graph.

The line represents the FINAL GDPNow Forecast. That is the one they make about 2 weeks before the 1/4 ends.

That is NOT the one they make when the 1/4 begins.

Here is how the GDPNow progressed in 2018 Q1

You see where it started? Do you see where it ended?

Your precious graph above is referring to where it ENDED.

Got it now?

Here is some free advice...you do not understand what you are talking about...AT ALL. Quit before you continue to make yourself look foolish on this.

/----/ First of all it's a forecast from the Fed Reserve NOT Breitbart. And you call me a moron. BWHAHAHAHAHAHA And their chart shows they are close to the final numbers. Now go have a nice cry.
View attachment 196345

Holy shit are you dumb...I never said it was from Breitbart. I posted it from their site...how can I not know it is from them...DUH?
But your article you quoted above IS from Breitbart. That is why I mentioned Breitbart.


Hello? Can you not read?

Your graph refers to the FINAL ESTIMATE OF THE ATLANTA FED. That is not until the quarter is almost over. It is NOT referring to their initial quote...which you used above.

Holy shit are you stupid (apparently).

/——/ Go back to your post #5 and stop lashing out: “Stop getting your economic information from the MSM/Breitbart...they are CLUELESS.” You may now apologize.

You idiot...I was referring to the website the article was from. Not the data source the article used. That is why I said 'MSM/Breitbart'...DUH.

The point is that MSM/Breitbart have not a clue how to interpret economic data...like the GDPNow.
Got it now?

So have you learned yet - you economic ignoramus - that your first post in this thread has NOTHING to do with a forecast for the entire Q2 AND that the graph you posted has NOTHING to do with the present GDPNow statistic?

You probably have no idea what I am even talking about.

Run along you macroeconomic moron...you are WAY over your head here.

 

[Cellblock2429]

/----/ It's still a forecast by experts at the Federal Reserve. And here is their track record.
View attachment 196326

HELLO!!!

Try reading your own graph.

The line represents the FINAL GDPNow Forecast. That is the one they make about 2 weeks before the 1/4 ends.

That is NOT the one they make when the 1/4 begins.

Here is how the GDPNow progressed in 2018 Q1

You see where it started? Do you see where it ended?

Your precious graph above is referring to where it ENDED.

Got it now?

Here is some free advice...you do not understand what you are talking about...AT ALL. Quit before you continue to make yourself look foolish on this.

/----/ First of all it's a forecast from the Fed Reserve NOT Breitbart. And you call me a moron. BWHAHAHAHAHAHA And their chart shows they are close to the final numbers. Now go have a nice cry.
View attachment 196345

Holy shit are you dumb...I never said it was from Breitbart. I posted it from their site...how can I not know it is from them...DUH?
But your article you quoted above IS from Breitbart. That is why I mentioned Breitbart.


Hello? Can you not read?

Your graph refers to the FINAL ESTIMATE OF THE ATLANTA FED. That is not until the quarter is almost over. It is NOT referring to their initial quote...which you used above.

Holy shit are you stupid (apparently).

/——/ Go back to your post #5 and stop lashing out: “Stop getting your economic information from the MSM/Breitbart...they are CLUELESS.” You may now apologize.

You idiot...I was referring to the website the article was from. Not the data source the article used. That is why I said 'MSM/Breitbart'...DUH.

The point is that MSM/Breitbart have not a clue how to interpret economic data...like the GDPNow.
Got it now?

So have you learned yet - you economic ignoramus - that your first post in this thread has NOTHING to do with a forecast for the entire Q2 AND that the graph you posted has NOTHING to do with the present GDPNow statistic?

You probably have no idea what I am even talking about.

Run along you macroeconomic moron...you are WAY over your head here.

/——/ Ypu told me to “Stop getting your economic information from the MSM/Breitbart...they are CLUELESS.” then you deny posting it then you claim you meant something else. What a blithering idiot. Bwhahahaha Bwhahahaha

 

[del]

View attachment 196284

'One month after the first take of Q1 GDP surprised to the upside, printing at 2.3%, more than the 2.0% consensus estimate, moments ago the BEA reported that as part of its 1st revision of Q1 GDP data, the US economy grew slightly less than expected, with GDP rising an annualized 2.2% (technically 2.17%), missing expectations of a 2.3% print, and down from last month's 2.32%.'

Q1 GDP Revised To 2.2%, Misses Across The Board


So...since Trump took office, average GDP Growth has been 2.52%.

Big deal.


I said when Trump was elected that GDP growth would be under 3% for his time in office (just as Obama's had been).
And I (and LOTS of people) were right.

Other then his corporate tax cuts - Trump has done NOTHING to help the economy (if you think his trade policies will...you are dreaming).

The economy was a semi-mess under GWB, it was a semi-mess under Obama and it is a semi-mess under Trump.
Why? Because the Federal Reserve has been running the show - more or less - since about 2001.

Nothing but a debt-fueled, money-printing, joy ride to economic mediocrity (eventual disaster?). So long as the Fed is running the show (and if you do not know they are - you are virtually clueless about the economy), America is economically screwed.

/----/ Try and keep up with the News, Spanky:
Atlanta Fed Boosts Second Quarter GDP Forecast to 4.8% | Breitbart
The U.S. economy is expanding at a 4.8 percent annualized rate in the second quarter, the Atlanta Federal Reserve’s GDPNow forecast model showed on Friday.
The forecast has been climbing higher following the release of a series of good economic data. On May 25, the measure foresaw four percent GDP growth. This rose to 4.7 percent Thursday and ticked even higher on Friday following the better than expected jobs report for May.

The Atlanta Fed forecasts a big boost in private sector fixed investment, which includes capital investment in machinery, land, buildings, vehicles, and technology. Earlier, the Atlanta Fed saw this growing at 4.6 percent. But following the release Friday of a construction spending report from the U.S. Census Bureau and the Manufacturing ISM Report On Business from the Institute for Supply Management, this was upgraded to 5.4 percent growth.

Consumer spending is expected to grow at a 4.6 percent rate, up from 3.4 percent prior to the Friday data releases.

The New York Fed’s Nowcast also rose Friday, to 3.5 percent from 3.0 percent a week ago.
View attachment 196284

What a economic moron you are. You clearly have NO IDEA WHATSOEVER what the GDPNow even is.

From their website:

'GDPNow is not an official forecast of the Atlanta Fed. Rather, it is best viewed as a running estimate of real GDP growth based on available data for the current measured quarter.'

GDPNow - Federal Reserve Bank of Atlanta

It's not a prediction of the entire 1/4 GDP, you economic doofus. It's simply what the GDP growth would be today based on the available data to this point. You cannot accurately predict what an entire 1/4 of GDP growth would be in the first month of the quarter...DUH.

The Atlanta Fed almost ALWAYS starts every 1/4 FAR higher then it ends.

The last 1/4 it's opening data point was 5.4%. But it ended at 2.2%.

Economy to grow at 5.4% rate in first quarter, Atlanta Fed tracker shows

It means NOTHING...economic simpleton.


Jeez...God save us from economic ignoramuses like you.

Stop getting your economic information from the MSM/Breitbart...they are CLUELESS.

/---/ It means nothing so that's why they published it. BWHAHAHAHAHAHA BTW I know what it is and its relevance.

yes, because if they published it, it must be true,

no wonder you pinheads elected the cheeto.

 

[McRocket]

From the NY Times:

More recently, though, job growth has experienced an unexpected uptick. Employers have added an average of 207,000 jobs per month so far in 2018, up from 172,000 in the same five months a year ago. It’s too soon to say whether that acceleration is the start of a new trend or just a blip. But many economists expect the faster pace of growth to continue because of the tax cuts passed in December and the extra government spending approved by Congress in January.
.
.
All that hiring has gone a long way toward putting Americans back to work. The unemployment rate, now 3.8 percent, is the lowest since 2000. The progress is increasingly reaching groups that often face discrimination or other disadvantages in the job market: The unemployment rate for African-Americans hit its lowest level on record in May. The jobless rates for Hispanics, teenagers and those with less than a high school education are likewise at or near multidecade lows.
.
.
It’s important to note that wages are rising. Average hourly earnings were up 2.7 percent in May from a year earlier, faster than inflation. And while noisy and sometimes conflicting data make it hard to discern a clear trend, there are signs that the pace of growth is accelerating, especially for lower earners.


The Jobs Recovery: A Longer View


I'm pretty sure the average GDP growth under Trump is better than it was under Obama. From the Investor's Business Daily:

We're not quite at a sustained elevated growth rate of 3% yet, but the latest economy snapshot tells us we are knocking on the door. The growth rate over the last four quarters came in at 2.9% — which was higher than any of the eight years of the Obama presidency.

Halfway through this current quarter, which began on April 1st, the Atlanta Federal Reserve estimates growth at 4%. If that persists through the end of June, we will have reached an average growth rate of 3% under Trump.

Not bad, given that nearly every liberal Trump critic, trashed Trump's campaign forecast of 3% to 4% growth as an impossible dream.

Economists like Larry Summers, Obama's first chief economist gloomily declared that we were mired in a new era of "secular stagnation" and that 3% growth was unachievable.

Paul Krugman of the New York Times said it was more likely we would see flying cars than 3% to 4% growth.

Now for the even better news. We are already starting to see a fiscal dividend from Trump's tax, energy, and regulatory pro-business policies.

The Congressional Budget Office reports that tax revenues in April — which is by far the biggest month of the year for tax collections because of the April 15th filing deadline — totaled $515 billion which was a robust 13% rise in receipts over last year.

MoneyWeek reports that the $218 billion monthly surplus (revenues over expenditures) this April was the largest ever, with the previous record being $180 billion in 2001. (April is always the one surplus month.)

What's the simple lesson here? More growth, more tax revenue.

But there's another lesson and it is about how wrong the bean counters were in Congress who said this tax bill would "cost" the Treasury $1.5 to $2 trillion in most revenues over the next decade.

If the higher growth rate that Trump has already accomplished remains in place, then the impact will be well over $3 trillion of more revenue and thus lower debt levels over the decade. Putting people to work is the best way to balance the budget. Period.

Critics will dismiss the importance of these higher revenue collections by arguing that the new receipts are for 2017 tax payments, which don't take account of the tax cut which passed in December.

This ignores that some of the growth we have seen was a result of the anticipation of the tax cut. Moreover, the fact that the tax cuts ‎are just sinking in, means we should get even higher growth rates for the next several years at least.

Alas, it is not all good news in the April surprise. The inexcusable omnibus spending bill increased federal spending by some $300 billion in 2018 and we are starting to feel the impact of that splurge. Federal outlays are up 8.7% in April.

That's unforgivable given that Republicans run everything in Washington these days.

No one thought that Trump could ramp up the growth rate to 3 percent or that his policies would boost federal revenues. But he is doing just that — which is why all that the Democrats and the media want to talk about these days is Russia and Stormy Daniels.

Trump Policies Are Bringing Back Economy's Lost Mojo — 3% Growth Is Possible

This article is from Stephen Moore. Stephen Moore works for the Heritage Foundation. A conservative think tank...his writings are ridiculously biased.

Anyone who reads economic articles from biased think tanks (either con or lib) is usually wasting their time.

He typed the following:

'No one thought that Trump could ramp up the growth rate to 3 percent or that his policies would boost federal revenues. But he is doing just that — '


One - it's dead wrong. I know LOTS of people who thought Trump would get 3% GDP growth.

Two - Trump has NOT got GDP growth to 3%. It is averaging a paltry 2.52% (which is almost exactly what Obama did). Plus, his idiotic budgets are due to run huge deficits (only economic/fiscal morons cut taxes without cutting spending to match).

The ONLY major thing Trump did so far that was good for the economy is cut the corporate tax. Every, single other major thing he has done has either done little or made things worse (like his INCREDIBLY, stupid trade war bullshit).

So you know LOTS of liberal Trump critics who thought Trump would get an average of 3% GDP growth? Care to name a few, along with a link that proves it?

What are you blathering about?
I did not say 'lots of liberal liberal people'. I said 'lots of people'. I can name lots of 'people' who thought Trump would do better than 3% growth. Trump for one.
And the article said 'No one thought that Trump could ramp up the growth rate to 3 percent'. Not 'no liberals'...'No one'.

This is what Moore actually said: "Halfway through this current quarter, which began on April 1st, the Atlanta Federal Reserve estimates growth at 4%. If that persists through the end of June, we will have reached an average growth rate of 3% under Trump."

And BTW, since the recession ended in June 2009, Obama's average growth rate was somewhere right close to 2%, it sure as hell wasn't anywhere near 2.52% as you claim.

After 2009, Obama's GDP ANNUAL growth rate was 2.14%. Trump's ANNUAL GDP growth rate has been 2.38% (a different number from the OP - it takes too long to calculate the OP-used number for Obama's post-2009 Presidency).
That sounds 'anywhere near' to me.
BTW - both are nothing to write home about in my book.

The Strange Ups and Downs of the U.S. Economy Since 1929

United States GDP Annual Growth Rate | 1948-2018 | Data | Chart | Calendar

Finally, cutting regulations has been a really major thing, something Obama never did. In fact, he made it so much worse, adding so many regs that the cost of compliance was ridiculously high. And he also cut income taxes for a lot of middle class people too, people are taking home more money in their paychecks thanks to his tax cuts. Maybe you didn't notice, but consumer spending is up and that tax cut is a very big reason for that. So are wages, something Obama didn't do either, except for the very wealthy.

Lib/dems can run against Trumps economic policies if they want to, but it's a real losing argument. But hey, go for it dude.

Fine...please prove it. Kindly show me a link to UNBIASED, FACTUAL PROOF that the regulations Trump has cut will have a 'MAJOR THING' (your words) on the economy.
I am not interested in guesses...I want factual proof from unbiased sources or it means zip to me.

BTW - I am not a lib or a con and I am all for less regulation AND taxes. But other than the corporate tax cut, nothing Trump has done has made ANY major positive difference to the economy.
And don't ask me to 'prove it' as any idiot knows that it is virtually impossible to prove a negative.

 

[Cellblock2429]

View attachment 196284

'One month after the first take of Q1 GDP surprised to the upside, printing at 2.3%, more than the 2.0% consensus estimate, moments ago the BEA reported that as part of its 1st revision of Q1 GDP data, the US economy grew slightly less than expected, with GDP rising an annualized 2.2% (technically 2.17%), missing expectations of a 2.3% print, and down from last month's 2.32%.'

Q1 GDP Revised To 2.2%, Misses Across The Board


So...since Trump took office, average GDP Growth has been 2.52%.

Big deal.


I said when Trump was elected that GDP growth would be under 3% for his time in office (just as Obama's had been).
And I (and LOTS of people) were right.

Other then his corporate tax cuts - Trump has done NOTHING to help the economy (if you think his trade policies will...you are dreaming).

The economy was a semi-mess under GWB, it was a semi-mess under Obama and it is a semi-mess under Trump.
Why? Because the Federal Reserve has been running the show - more or less - since about 2001.

Nothing but a debt-fueled, money-printing, joy ride to economic mediocrity (eventual disaster?). So long as the Fed is running the show (and if you do not know they are - you are virtually clueless about the economy), America is economically screwed.

/----/ Try and keep up with the News, Spanky:
Atlanta Fed Boosts Second Quarter GDP Forecast to 4.8% | Breitbart
The U.S. economy is expanding at a 4.8 percent annualized rate in the second quarter, the Atlanta Federal Reserve’s GDPNow forecast model showed on Friday.
The forecast has been climbing higher following the release of a series of good economic data. On May 25, the measure foresaw four percent GDP growth. This rose to 4.7 percent Thursday and ticked even higher on Friday following the better than expected jobs report for May.

The Atlanta Fed forecasts a big boost in private sector fixed investment, which includes capital investment in machinery, land, buildings, vehicles, and technology. Earlier, the Atlanta Fed saw this growing at 4.6 percent. But following the release Friday of a construction spending report from the U.S. Census Bureau and the Manufacturing ISM Report On Business from the Institute for Supply Management, this was upgraded to 5.4 percent growth.

Consumer spending is expected to grow at a 4.6 percent rate, up from 3.4 percent prior to the Friday data releases.

The New York Fed’s Nowcast also rose Friday, to 3.5 percent from 3.0 percent a week ago.
View attachment 196284

What a economic moron you are. You clearly have NO IDEA WHATSOEVER what the GDPNow even is.

From their website:

'GDPNow is not an official forecast of the Atlanta Fed. Rather, it is best viewed as a running estimate of real GDP growth based on available data for the current measured quarter.'

GDPNow - Federal Reserve Bank of Atlanta

It's not a prediction of the entire 1/4 GDP, you economic doofus. It's simply what the GDP growth would be today based on the available data to this point. You cannot accurately predict what an entire 1/4 of GDP growth would be in the first month of the quarter...DUH.

The Atlanta Fed almost ALWAYS starts every 1/4 FAR higher then it ends.

The last 1/4 it's opening data point was 5.4%. But it ended at 2.2%.

Economy to grow at 5.4% rate in first quarter, Atlanta Fed tracker shows

It means NOTHING...economic simpleton.


Jeez...God save us from economic ignoramuses like you.

Stop getting your economic information from the MSM/Breitbart...they are CLUELESS.

/---/ It means nothing so that's why they published it. BWHAHAHAHAHAHA BTW I know what it is and its relevance.

yes, because if they published it, it must be true,

no wonder you pinheads elected the cheeto.

/——-/ I also posted their success rate. Try and keep up.