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GDP: U.S. economy grows 3.2% in the first quarter, well above estimates
- Thread starter Mr.Awesome
- Start date
This is the real danger for Democrats... if the economy keeps trucking at this rate, Trump stands a greater chance of winning the 2020 election.
Trump promised much higher rates of growth. But I agree that as long as the economy does well, he can be as much of an ass as he wants and be re-elected.
Business always responds well to low taxes, reduced regulations and no oversight.
Doesn't mean it's best for consumers in the long run, but in a profit-now world, it makes sense.
Trump is definitely going to lean on this during his next campaign
He shouldn't get credit for this though
He shouldn't get credit for this though
Wow that's actually impressive even if that means the lion's portion is going to the one percent.
If we continue to grow like that throughout the year I hope it means once the recession hits it will be a shallow one instead of a disaster like the 2008 crisis. (but that scale of disaster is exactly what I'm expecting)
If we continue to grow like that throughout the year I hope it means once the recession hits it will be a shallow one instead of a disaster like the 2008 crisis. (but that scale of disaster is exactly what I'm expecting)
OP
OP
I'm always posting the montly jobs number and in less regularity the GDP numbers (because those only release quarterly). I post them negative or positive, but they have been mostly positive lately. Two months ago we had one of the worst jobs vs expectations numbers ever and I posted that. Theyll get posted regardless.
While true this helps Trump, his approval rating is in the toilet WITH this good economy. If the democrats lose the election, it will not be because the economy is in a good place.
Yeah I could tell when the economy was bad but I don't see any signs of it booming.
Lol my company couldn't be arsed to give us more than 2% raises no matter what your performance score was for the work the previous year because "budgets are tight" despite our profits and growth. Same excuse as last year along with the "cost-saving" layoffs. So fucking done with the capitalist lies. This "booming" economy does nothing for me. The job market is still cutthroat competitive and companies are still trying to pay as low as they can to hire people on a contractor basis or with as little benefits and sign-on incentives as possible.
Why not? Trump is getting everything out of the economy. But he is throwing any ethics out and is screwing nature to do it. Trust me someone will pay the price eventually. But I doubt it will be Trump, unless he is reelected.
The fact is GDP largely is irrelevant to the actual financial situation of regular folks. Hell even the Dow is.
GDP/stocks are great for the already rich, though.
... The numbers are the numbers.
Unlike the overwhelming majority of economic/financial posts which are "I feel like we're in a recession" or "I feel like a recession is imminent!" "GDP actually isn't a real economic indicator" "You're using the wrong unemployment indicator" ... these are just the facts. The response to financial posts here is like a mirror of the response to economic news articles from the right when Obama was president. We had ~4+ years of uninterrupted Q-Q growth under Obama, and the populist Right deluded itself into arguing how the country secretly isn't growing and how the jobs rate is secretly horrible. And now, that growth has continued with Trump, and you see a similar reaction from the left.
The facts are that the US is in midst of the 2nd longest period of sustained growth in the country's history. If this growth continues into Q3 or Q4 this year (I forget which month it is, sometime in Oct or Nov, or something), it'll be the longest period of sustained growth ever. This growth has sustained two vastly different administrations and two very different congressional makeups. The American economy persists regardless of political winds.
Of course, there is risk in the economy. There always is. We're potentially seeing this growth on borrowed government spending via the enormous tax cut, which may sputter in coming months/years. But let's be honest with our reactions here. Whenever there's a slightly negative indicator, like when consumer spending seemed to be trending down 2 quarters ago which everybody predicted was the event horizon of the looming super-recession and we had a thread lighting off fireworks in celebration of our imminent financial collapse ... well ... that didn't happen, and consumer spending is back up, and consumer optimism is higher than it was last year... ANd, of course, there's no thread for that and if there was the overwhelming reaction would be to pretend that the OP has some ulterior motive in posting facts.
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It's a single, fairly irrelevant metric to most people. And it will be used as reason to keep going the wrong direction. Yes, fuck positive news that is misleading and misused.
You're not wrong- but it's also not wrong of people to be rather suspicious of what this actually means when so many other things are going the wrong direction. The deficit is huge again, wages aren't keeping up with this growth and the cost of living. It's great for my 401(k) and home value, though.
It's not right, really, to hope for a recession. But you can't fault people for wanting a fascist piece of shit out of office at all costs...and this dumb number isn't a catch all of economic health, though it will be treated that way.
Yeah. Screw those kids thrown in cages, women he assaults, being a Russian puppet, fighting to rip away healthcare from millions. I got mine fuck y'all/s
The next question tho is who exactly is benefiting from this economy.
I'm not denying the growth. I know my CEO is loving the growth and increase in consumer spending.
But jobs != good jobs with good benefits, pay, time off, stability.
The economy's one of my political blind-spots. How exactly is that the case? Not that I doubt you -- I know how much Trump's fucked up shit with tariffs and whatnot -- but does it have to do with short-term gain or...?
Yep, that's pretty much it. They know it's "open season" with a guy like Trump in office and are going to take advantage 100%.
This is strange how long we have gone since the last recession. I am not into economics anymore but I wonder what the prevailing theories are as to why the current economy seems so stable. Even with a lot of his stupid trade wars and other moves that you would expect to hurt the overall economy, it doesn't seem to have had that impact. I would even say the same for Brexit, which you would think would have had an even bigger impact on the smaller English economy.
The economy is really one of the main driving factors for the popularity of a president- warranted or not (it's not, presidents can't do shit for the economy). The fact that Trump is quite unpopular despite the positive economic news pretty much means he's a couple quarters of negative growth away from getting hung out to dry.
So, on the one hand I have job security and know I can bounce around while the times are good. On the other hand, the "good times" could mean 4 more fucking years of this shit.
The OP posts financial data... get over it. There are no forum rules being broken.
3,2% GDP annualised GDP growth while running a 5,1% GDP deficit even though unemployment is on a record low and the economy is at peak level is no reason to celebrate. Also according to the yahoo article, 0,7% growth are based on net inventory building, and another 1% based on a temporarily beneficial change in net exports. I wonder what will happen in the next recession.
You keep doing your thing.
I guarantee you the whining about your threads wouldn't even exist had Clinton won.
The economy has been doing well from a high level metric standpoint, that is the trend. The OP posts all kinds of data and without commentary. Don't be a jerk.
I think people here really over value the ability of the President or even the government itself to control the economy. There are so many individual factors to take into account that big sweeping hot takes about the economy tend to be dumb. Think about the effects of a single drout on the world economy and the ripple effect it can have.
I will say that it is really dissapointing, even with these numbers, that Americans are still not really gaining anything out of it. GDP growth is good on a macro scale, but not on a micro scale.
I also think people who are saying there's going to be a recession soon are probably partisan stooges (This forum is filled with them tbh) but there is a couple of issues I can see popping up. The current debt crisis from college loans seems like a giant bubble about to burst (handing out loans to people who couldnt afford them workedfor the housing market) and the global warming and medical issues our country has are really scary, also with Brexit happening in the near future, these are all really scary possibilities for the future, and I think the orrying thing with Republicans and Conservatism is that they have no answer to any of these concerns.
I will say that it is really dissapointing, even with these numbers, that Americans are still not really gaining anything out of it. GDP growth is good on a macro scale, but not on a micro scale.
I also think people who are saying there's going to be a recession soon are probably partisan stooges (This forum is filled with them tbh) but there is a couple of issues I can see popping up. The current debt crisis from college loans seems like a giant bubble about to burst (handing out loans to people who couldnt afford them workedfor the housing market) and the global warming and medical issues our country has are really scary, also with Brexit happening in the near future, these are all really scary possibilities for the future, and I think the orrying thing with Republicans and Conservatism is that they have no answer to any of these concerns.
In that time people have always pointed out and complained that regular people aren't seeing this. Wages still haven't matched up to this "growth." GDP related things do basically only directly affect the ultra rich.
But sure economic wise it's certainly fair to criticize the actual situation under any administration that doesn't actually help the middle and lower classes in day to day life.
Great for that trickle down theory, though. I'm sure I'll feel it anytime now. Been trickling since the '80s.
What he's saying is true though
It's all Trump has
Rather stick your fingers in your ears or?
I get it. Every positive indicator is actually a negative indicator. I was used to this from the Right when Obama was president, I just didn't think we were so daft. This was basically Trump's campaign that won him the presidency. "All of the numbers are fake, only the (((coastal elites))) are doing well."
Lower unemployment actually does mean good jobs with good benefits, pay, time off, and stability. If the unemployment rate were ticking higher instead of lower (or stable), you'd see fewer good jobs, worse benefits, less time off, and less stability. THose of us who were in the work force 10 and 11 years ago still remember that. If you think that jobs, benefits, pay, and stability are bad with a 3.8% unemployment rate, try it when that unemployment rate is 10% like it was a decade ago. Don't mistake facts for an endorsement of Donald Trump, it's not, this is still the dreaded 'neoliberal' economy, but we can replace quantative easing with Trump's tax cuts for top-down stimulus (both of which have their risks).
The predictable negative responses in positive economic news threads are like the predictable responses to climate change news from the Right. Evidence points to rising temperatures world wide, and shifts in global climate to warmer temperatures across the globe, but you're holding a snowball on the House floor arguing that that's supposed to be a valid counter to the overall trend. It's not. The trend is the trend.
Well she's not a Nazi so yes there would probably be less people pointing out that the president is a shithead along with anyone giving him a pass because he hasn't managed to short term tank the economy.
I know it's better than 10 years ago. I'm complaining that it needs to get better faster because it's still bad.
Also people benefiting from it the most are people at the top, as usual, who enjoy laying off and cutting benefits and pay to save cost while enjoying the dividends of their portfolio.
There hasnt really been a major event that's caused issues within the global economy, despite Brexit and Trump trying their hardest to make gigantic economic reforms.