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#289822 by schmedidiah
Mon Jul 30, 2018 1:35 pm
ANGELSSHOTGUN wrote:Ted asked me to be nice.

Great. Let's give it a try.
#289831 by GuitarMikeB
Mon Jul 30, 2018 2:51 pm
The U.S. economy just entered its 10th year of growth, a recovery that began under President Barack Obama, who inherited the Great Recession. The data show that the falling unemployment rate and gains in home values reflect the duration of the recovery, rather than any major changes made since 2017 by the Trump administration.

While Mr. Trump praised the 4.1 percent annual growth rate in the second quarter, the economy exceeded that level four times during the Obama presidency: in 2009, 2011 and twice in 2014.

In purely numerical terms, a larger shift took place in the second quarter of 2014, when the economy went from contracting by 1 percent to growing at a rate of 5.1 percent.
But quarterly figures are volatile, and strength in one quarter can be reversed in the next. President Obama never achieved the 3 percent annual growth that President Trump hopes to see, though he came close. The economy grew 2.9 percent in 2015.

The current economic expansion, which began in June 2009, is now the second-longest on record -- but it is also the weakest. The GDP revisions the Commerce Department announced Friday didn't change that narrative. Annual growth has averaged just 2.2 percent since mid-2009 through the end of last year, the same as previously reported.

"One of the biggest wins in the report, and it is, indeed a big one, is that the trade deficit — very dear to my heart because we've been ripped off by the world — has dropped," Mr. Trump said Friday.

Mr. Trump is correct that a lower trade deficit spurred growth in the April-June quarter, but the reason for that isn't necessarily positive.

The president has been floating plans to slap import taxes on hundreds of billions of dollars of foreign goods, which has led to retaliatory tariffs by foreign governments on U.S. goods.

This threat of an escalating trade war has led many foreign companies to stockpile U.S. goods before any tariffs hit. That caused a temporary boost in U.S. exports, helping to fuel economic growth.

But Richard Moody, chief economist at Regions Financial, said the gains from rising U.S. exports in the second quarter will not be repeated.
It's impossible to predict the future, but economists warn that the figures seen this quarter will not be easy to replicate, or even come near.

The economy faces two significant structural drags that could keep growth closer to 2 percent than 3 percent: An aging population, which means fewer people are working and more are retired, and weak productivity growth, which means that those who are working aren't increasing their output as quickly as in the past.

Both of those factors are largely beyond Mr. Trump's control.

The labor force could get a boost from higher participation—that is, if more people who are currently on the sidelines re-enter the labor force. But enticing those people back into the workforce could require a combination of higher pay, better jobs or some other factor.
#289839 by Mordgeld
Mon Jul 30, 2018 4:54 pm
GMike, can you explain why "While Mr. Trump praised the 4.1 percent annual growth rate in the second quarter, the economy exceeded that level four times during the Obama presidency: in 2009, 2011 and twice in 2014" and "President Obama never achieved the 3 percent annual growth that President Trump hopes to see, though he came close. The economy grew 2.9 percent in 2015." How did the economy both exceed that level and not achieve 3% under Obama?
#289844 by Ancient Vegan
Mon Jul 30, 2018 7:07 pm
David Copperfield could do it :shock:
#289855 by ANGELSSHOTGUN
Mon Jul 30, 2018 8:55 pm
I'm going to go play with piggy...
He is very smart and very nice.

I hope you get the point...
#289856 by ANGELSSHOTGUN
Mon Jul 30, 2018 9:00 pm
schmedidiah wrote:
ANGELSSHOTGUN wrote:Ted asked me to be nice.

Great. Let's give it a try.


A pretty woman or my pretty wife, always.

You .......
#289863 by schmedidiah
Mon Jul 30, 2018 10:40 pm
ANGELSSHOTGUN wrote:
schmedidiah wrote:
ANGELSSHOTGUN wrote:Ted asked me to be nice.

Great. Let's give it a try.


A pretty woman or my pretty wife, always.

You .......

Ok. More weirdness.
#289864 by ANGELSSHOTGUN
Mon Jul 30, 2018 11:25 pm
GuitarMikeB wrote:The U.S. economy just entered its 10th year of growth, a recovery that began under President Barack Obama, who inherited the Great Recession. The data show that the falling unemployment rate and gains in home values reflect the duration of the recovery, rather than any major changes made since 2017 by the Trump administration.

While Mr. Trump praised the 4.1 percent annual growth rate in the second quarter, the economy exceeded that level four times during the Obama presidency: in 2009, 2011 and twice in 2014.

In purely numerical terms, a larger shift took place in the second quarter of 2014, when the economy went from contracting by 1 percent to growing at a rate of 5.1 percent.
But quarterly figures are volatile, and strength in one quarter can be reversed in the next. President Obama never achieved the 3 percent annual growth that President Trump hopes to see, though he came close. The economy grew 2.9 percent in 2015.

The current economic expansion, which began in June 2009, is now the second-longest on record -- but it is also the weakest. The GDP revisions the Commerce Department announced Friday didn't change that narrative. Annual growth has averaged just 2.2 percent since mid-2009 through the end of last year, the same as previously reported.

"One of the biggest wins in the report, and it is, indeed a big one, is that the trade deficit — very dear to my heart because we've been ripped off by the world — has dropped," Mr. Trump said Friday.

Mr. Trump is correct that a lower trade deficit spurred growth in the April-June quarter, but the reason for that isn't necessarily positive.

The president has been floating plans to slap import taxes on hundreds of billions of dollars of foreign goods, which has led to retaliatory tariffs by foreign governments on U.S. goods.

This threat of an escalating trade war has led many foreign companies to stockpile U.S. goods before any tariffs hit. That caused a temporary boost in U.S. exports, helping to fuel economic growth.

But Richard Moody, chief economist at Regions Financial, said the gains from rising U.S. exports in the second quarter will not be repeated.
It's impossible to predict the future, but economists warn that the figures seen this quarter will not be easy to replicate, or even come near.

The economy faces two significant structural drags that could keep growth closer to 2 percent than 3 percent: An aging population, which means fewer people are working and more are retired, and weak productivity growth, which means that those who are working aren't increasing their output as quickly as in the past.

Both of those factors are largely beyond Mr. Trump's control.

The labor force could get a boost from higher participation—that is, if more people who are currently on the sidelines re-enter the labor force. But enticing those people back into the workforce could require a combination of higher pay, better jobs or some other factor.


Bull!
Rather than having your long winded post explaining nothing...
I am letting you position yourself.
#289866 by ANGELSSHOTGUN
Mon Jul 30, 2018 11:32 pm
Here
is the simple straight forward. obama got elected and I lost $30,000 in boiler jobs that summer.
That winter oil prices spiked because of OBAMA.

OBAMA IS THE GREAT TRAITOR!

Anyone want to try and kill me? :lol:
#289883 by GuitarMikeB
Tue Jul 31, 2018 12:20 pm
Mordgeld wrote:GMike, can you explain why "While Mr. Trump praised the 4.1 percent annual growth rate in the second quarter, the economy exceeded that level four times during the Obama presidency: in 2009, 2011 and twice in 2014" and "President Obama never achieved the 3 percent annual growth that President Trump hopes to see, though he came close. The economy grew 2.9 percent in 2015." How did the economy both exceed that level and not achieve 3% under Obama?


Mord - quarterly numbers versus whole year numbers. Short term doesn't mean as much as long term. If you have any investments in the stock market, you understand that a big gain one week doesn't mean much, you have to look at the long term growth.

ANGELSSHOTGUN wrote:Bull!
Rather than having your long winded post explaining nothing...
I am letting you position yourself.


I didn't figure that Glenny would have enough intelligence or ability to read or understand the whole thing... :lol:
#289903 by Mordgeld
Tue Jul 31, 2018 6:15 pm
GuitarMikeB wrote:
Mordgeld wrote:GMike, can you explain why "While Mr. Trump praised the 4.1 percent annual growth rate in the second quarter, the economy exceeded that level four times during the Obama presidency: in 2009, 2011 and twice in 2014" and "President Obama never achieved the 3 percent annual growth that President Trump hopes to see, though he came close. The economy grew 2.9 percent in 2015." How did the economy both exceed that level and not achieve 3% under Obama?


Mord - quarterly numbers versus whole year numbers. Short term doesn't mean as much as long term. If you have any investments in the stock market, you understand that a big gain one week doesn't mean much, you have to look at the long term growth...


Gotcha. I should have read that as "...economy exceeded that level quarterly four times during the Obama presidency...". This real GDP chart from USBEA that I found helps show the pattern.
Image

Observing statistical data from farther back seems to show some heavy swings in quarterly GDP that prevented the annual number from reaching 3%. Some of the swings even involved negative numbers. Based on the above chart, and prior trends, one would expect that 2018 might exceed the 2.6% total for 2017. Goldman Sachs projected 4% total for 2018 back in November, so Trump taking that position is not surprising. This projection can drive business decisions. It remains to be seen if this projection will pan out as anticipated.
#289906 by Jahva
Tue Jul 31, 2018 6:49 pm
Yet things haven't taken a wrong turn thus far... seems the opposite... much to the chagrin of the Dems.
Don't tell me you're one of these people that want things to go bad in this country so you can blame it on the current Admin.?
I do think it was a bit foolish to go after... seems everyone we trade with all at once... kind of an all-in approach... :shock: which could pay off big or be a fail like none other. He's going to need to make some progress somewhere with the tariffs sooner rather than later. Farmers are feeling it and getting their "bail out" whose next?
Last edited by Jahva on Tue Jul 31, 2018 7:30 pm, edited 1 time in total.
#289910 by MikeTalbot
Tue Jul 31, 2018 7:19 pm
Hey Jahva, how you doing amigo? Good to hear from you.

cheers
Talbot
#289911 by Jahva
Tue Jul 31, 2018 7:34 pm
MikeTalbot wrote:Hey Jahva, how you doing amigo? Good to hear from you.

cheers
Talbot

Mike T
Hey brother all is pretty good... how bout you hows your health I remember you were having some issues... you still playing and writing... hows the novel doing getting any gas from it?

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