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US economy logs best performance in nearly 4 years
- Thread starter RogerK
- Start date
Can't you just stand for your (deplorable) principles instead of making shit up? I wouldn't even have a big problem with you supporting Trump. I mean I wouldn't want to talk to you or anything, but I'd also not try to dogpile you or any of the sort. What pisses me off is this low key stanning and then denying of your political convictions.
Pretty much what is happening is that the economy is being placed back to what it was before the crash which is great that people are employed again but just like then wages where stagnant. About the only thing that has changed is that there isn't a housing bubble.
It is positive news no matter how you want to see it though.
The news itself and what happened is positive and rich people will see the positive effect.
Its like someone winning the Jackpot at the Casino.
Good news for that person on the receiving end but i don't benefit from it.Still doesn't turn the event itself into a bad news.
The reason for this is that to get ahead of the tariffs, firms bought a shitton of things they'd need. Steel and aluminum especially, which are inputs for basically any product we still make in the US.
The next quarter though, will not be so good, because while they bought enough inputs to last them through short term, they can't really buy at the same rate with tariffs instituted.
I would not be surprised to see a GDP shrink.
The next quarter though, will not be so good, because while they bought enough inputs to last them through short term, they can't really buy at the same rate with tariffs instituted.
I would not be surprised to see a GDP shrink.
Hmmm when do people wake up that these stories mean fuck all when 40% of Americans struggle to provide for themselves one of four basic needs on a daily basis and having a heart attack will bankrupt the average citizen.
Huge corporation getting even richer is not much of a measure of anything meaningful unless you're in the 0.01%.
Huge corporation getting even richer is not much of a measure of anything meaningful unless you're in the 0.01%.
There was a thread on the GDP growth. Pretty much every economic article says it was because of companies stockpiling because of the tariffs, which means the effect is a one-time thing. And even then there were better quarters under Obama.
This. Its great that the economy is performing at a macro level well but it doesn't last forever.
By doing nothing, if not worse, doing exactly the wrong things in good times to prepare for bad.
We should be taxing more and paying down debt, not spending more and giving billionaires tax cuts.
Since 80% of all wealth in the stock market is owned by 10% of Americans, I just have to sigh every time someone uses the stock market as a measure for economic health.
Even then, the stock market has been kinda mild this year compared to the last four.
That's a different situation, it's down to the way employment is recorded in the UK, they massage the fuck out of the employment figures here.
My entire staff saw huge (25%+) salary increases this year. But I live in a booming city and a booming industry. I have wondered how the other industries are doing.
My retirement accounts are way up with the way the market has been performing. Seriously considering selling my current investments and moving my money to more conservative "safer" funds... on the other hand, I'm wondering if I should wait until after the holidays... It's entirely possible the market will continue upwards for a bit longer if holiday spending is up... decisions, decisions...
Thanks Obama.
Growing economies are usually good, but its a worldwide trend so I wouldnt look too much into it.
Growing economies are usually good, but its a worldwide trend so I wouldnt look too much into it.
What do people think is going to happen when an entity spends $2,000,000,000,000.00 it doesn't have?
If I found a bank to give me a 10 million dollar loan then I bought a mansion, a Lambo and had models hanging off of my arms, people would think I was doing well, too.
If I found a bank to give me a 10 million dollar loan then I bought a mansion, a Lambo and had models hanging off of my arms, people would think I was doing well, too.
Most didn't see much of anything. Most went to shareholders and not the workers. I got about $5 extra every two weeks, not really worth the whole in the debt and decreased regulations to prevent another Great Recession.
OP
OP
I saw the earlier one where the initial numbers were released. The revised numbers (slightly higher growth) was just released today though, didn't see a thread on that. I think next quarter's numbers will be very interesting. I'm expecting growth to definitely drop (partly due to the reason you stated). Oh and no argument there, the previous administration did an amazing job with the economy!
The market's been shit this year all things considered. Only up less than 5%. That being said you really shouldn't sell out of investments completely. Long term you'll be fine regardless.
Did a revision really warrant an entirely new thread? Stock market isn't as excited about this as you are.
very sad. A rising tide should lift all, not just those already in luxurious boats
I know this sounds bad but I'm really hoping the economy tanks in the next 3 months.... I know a lot of trump policies will finally trickle down to quarterly reports, hoping for the worse.
If someone hits the jackpot at the casino, they're an individual that risked their own money on a game of chance and won. Good for them, I don't begrudge them their win.
If a business is doing better because of increased productivity, but gives zero of that back to the workers (or gives them juuuuuust enough to keep up with inflation) then that's not a good thing, and yes I do begrudge them their profits because I'm working harder to provide those for them - where's my cut?
I didn't say it was bad news. I said the news doesn't mean fuck all to me (and many other Americans) because they aren't invested in any businesses because they cannot afford to invest. Because their wages are stagnant.
Is it bad news if someone you only sorta know has a baby and you see it on facebook? No, but you also probably don't care that much, because it doesn't affect you in the slightest. This is the same thing.
RogerK, I'm curious how you feel about these statistics40% of Americans "struggle" to pay for basic needs such as groceries or housing
Wages are stagnant.
$500 medical bills put people into debt.
At least we're getting low-wage jobs and inflation that overpowers wage growth.
Your boss's retirement is going great, though.
This has nothing to do with Trump, who is doing everything in his power to destroy America at home and abroad. Just wait until the numbers roll in after these trade tariffs, I'll be waiting for you to post that thread next quarter.
I'm at 14% return year-to-date, so... I'm quite happy with that. And I'm not saying sell out of investments... I'm considering transferring my investments to more conservative funds.
Is there any precedent of a president not being re-elected with solid 4% gdp growth?
I mean, the growth is probably stacked in favor of wealth hoarders, but still...
I mean, the growth is probably stacked in favor of wealth hoarders, but still...
I'm at 35%. But that's not because of general market performance. But sure, transferring your money around to other investments isn't a terrible idea. Keep in mind that the market averages over-time(including recession) 10%.
Interesting, I'm struggling to figure out how to pay rent next week despite working full time at a job that required a particular college degree and is one of the biggest corporations in America. I'm sure my bosses aren't too worried about deciding between groceries and bills, either. But man I'm so glad the economy is doing well, the Kroger across the street can add 10+ minimum wage jobs to help more people suffer while being constantly demeaned by managers making 3-4 times the amount they do.
OP
OP
They're definitely not good. Wage growth has been a problem for years and years now. With the economy and job market the strongest it's been in a while you'd expect wages to pick up as businesses increase pay to compete for employees. That is happening (very, very slowly):
https://finance.yahoo.com/news/annual-wage-growth-highest-since-132801400.html
It needs to be higher and hopefully (if the economy/job market continues course) we'll see those increases sooner rather than later.
Yeah, I mean this is going to be a peak that will cause next quarter to come in lower because people prebought due to the stupid tariffs
Yeah, I guess he has an agenda but he isn't breaking the TOS or is he?
Yes, it's just like that. If the casino represents the USA/economy, the shareholders of the casino are the average taxpayer, and the people getting the jackpots are the 1%. The casino has been making money for ten years, despite the expected 1% winning jackpots that are accounted for in the business plan. Now it turns out the 1% also make the rules for the casino and vastly increased the odds of a jackpot. How many jackpots can a year handle before the casino is in financial trouble? If only there were someone in an important position with vast knowledge about bankrupting casinos.
You'd have to be an incompetent moron of the highest caliber to bankrupt a casino, though.
See this assumes that the stock-market has been doing well this year. It hasn't. It's growing slower than average. Because the reason for this growth is people stockpiling because of tarrifs. In fact this revision reinforces that as it revised consumer spending down. All this despite a trillion dollar stimulus package in the form of tax cuts.
