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the blue team will spend the day poo-pooing the very good gdp 2nd quarter numbers. the red team will shake the pom-poms at the excellent gdp results. no one on this board is sophisticated enough to understand all the economic ramifications or reasons for this gdp number. all I know is unemployment is low, real estate sales are strong, and consumer prices are stable where I live.
I also know I couldn't put a republican ted cruz for senator sign in my yard without risking the sign or my property being vandalized or negative comments from my mostly progressive neighbors. I see lots of progressive Beto for senator yard signs which have been untouched for weeks. I perceive the progressive culture of 'resist' gives Leftist followers a license to vandalize property, verbally, or physically attack those they disagree with....even in texas.
so no matter how the gdp performs or how good the economy is for most americans, the threats by the Left towards all things trump and republicans isn't changing and may be worse than it was 18 months ago when trump became president and is very scary.
A meaningless arbitrary number. Its blatantly obvious that we need far more than that to just give the workers a small increase in pay. Currently its not happening. Wages have been flat for 20 years. Obama had two years of 2.9% GDP growth and it did nothing. No one cares about this. People care about median income growth. We had skyrocketing income growth in the 50 year period from the 1930s to 1980. Then labor was crushed and Wall Street decided to hoard national income growth into fewer and fewer hands. This isnt addressed at all.
False. Obama had one year of 2.8% growth (just revised down .1% today). His last year of office was a measly 1.5% growth rate, we were going the wrong way. Average GDP growth under Obama was 2% (excluding his first year that was the recession year) and wages were stagnant. We were told 2% was the best we could get, the new normal as they said. That is proving to be false. There are signs that wage growth is starting to pick up on top of the extra take home pay from the tax cuts.
False. Obama had one year of 2.8% growth (just revised down .1% today). His last year of office was a measly 1.5% growth rate, we were going the wrong way. Average GDP growth under Obama was 2% (excluding his first year that was the recession year) and wages were stagnant. We were told 2% was the best we could get, the new normal as they said. That is proving to be false. There are signs that wage growth is starting to pick up on top of the extra take home pay from the tax cuts.
What? So Obama governed when growth was above 2% in many years and close to 3% and you're saying that it would be impossible to get those numbers in 2017 or 2018? That makes no sense. 2.8% or 3.1%, these are rounding errors with absolutely zero impact on the life of everyday Americans. Median wages have been stagnant under Trump. Just like in the past 20 years. This is the reality. And its not addressed. Because the corporate media dont want you to focus on it. Instead you treat the economy like Kim Jung Un does in North Korea, with the president having full control of the economy and is solely responsible for it.
Of note on yearly revisions, from the link:
"For 2017, real GDP growth was revised down 0.1 percentage point. A downward
revision to PCE, an upward revision to imports, and downward revisions to state and
local government spending and exports were partly offset by upward revisions to
inventory investment, nonresidential fixed investment, residential investment, and
federal government spending."
2012 GDP growth was unrevised
2013 was revised up 0.1%
2014 was revised down 0.1% 2015 was unrevised
2016 was revised up 0.1%
But median wages have been flat for the past 20 years and have currently been shrinking in the past quarter.
Why should we care about GDP growth but not income growth for Joe Sixpack? Makes no sense.
we know the answer already...trump needs any number he can to make it seem like he's doing well, so his lemmings glom onto this one without really understanding it. but its something they can point to and cheer like seals...even though last night they were hinting at 5% and with the hooting last night anything under 5 should really be seen as a disappointment, esp given title of this thread.
look at all the american hating liberals try to chop this down. very sad. you should be ashamed.
So, when democrats try to dismiss a good GDP number under Trump, it counts as "american hating." But when republicans tried to dismiss a good GDP number under Obama, it was counted as patriotism.
What? So Obama governed when growth was above 2% in many years and close to 3% and you're saying that it would be impossible to get those numbers in 2017 or 2018? That makes no sense. 2.8% or 3.1%, these are rounding errors with absolutely zero impact on the life of everyday Americans. Median wages have been stagnant under Trump. Just like in the past 20 years. This is the reality. And its not addressed. Because the corporate media dont want you to focus on it. Instead you treat the economy like Kim Jung Un does in North Korea, with the president having full control of the economy and is solely responsible for it.
Wage growth is coming I believe. With unemployment levels as low as they are, tax and regulatory burdens on companies drastically lowered, an economy that is rock solid, we will see rising wages soon, companies will be forced to pay more to get the workers and will be able to with increased profits. We already saw annual bonuses from the tax cut plan.
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