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Those expecting some big economic boom this year from Trump were ... well, they were expecting too much. I've already noted that job growth in 2017 slowed to a 6-year low. Today, Q4 GDP came out at a "meh" 2.6%. And the year-over-year average was even more "meh."
"...Real GDP increased 2.3 percent in 2017 (that is, from the 2016 annual level to the 2017 annual level),
compared with an increase of 1.5 percent in 2016 (table 1). ..."
And while that was better than the 1.5% in 2016, that was less than the 2.9% in 2015 and less than the 2.6% in 2014. (source)
More of the same.
Last edited by James Bond 007; 01-26-2018 at 07:31 AM..
Those expecting some big economic boom this year from Trump were ... well, they were expecting too much. I've already noted that job growth in 2017 slowed to a 6-year low. Today, Q4 GDP came out at a "meh" 2.6%. And the year-over-year average was even more "meh."
"...Real GDP increased 2.3 percent in 2017 (that is, from the 2016 annual level to the 2017 annual level),
compared with an increase of 1.5 percent in 2016 (table 1). ..."
And while that was better than the 1.5% in 2016, that was less than the 2.9% in 2015 and the same as the 2.6% in 2014.
More of the same.
True, fortunately the new tax reform will take effect in the next quarter and blow the roof off of slow GDP growth.
My only disappointment is that you and people like you will be disappointed with the rapid GDP growth that will definitely see in the coming year....Dems are headed for 2018 disaster.
We shall see, but I think you're going to be eating those words. Once the new tax rates start showing results very shortly and once we tighten the labor market with immigration reform for lower-skilled workers, we are going to see some post tax cut 60's type growth very quickly here.
I see you're in KC. Former Westport resident myself.
Last edited by EastwardBound; 01-26-2018 at 07:05 AM..
Reason: add
This is a better forecast -- or more encouraging. I hope Trumpettes are right and we see that big boom because we all win then. For me it's a win win -- either I win because the economy is so good and that meeans economically I do better or I win because Trump loses -- lol. NOW THAT'S HOW YOU LOOK AT THE WORLD IN AN OPTIMISTIC WAY.
EITHER WAY I WIN.
Tax cuts for both businesses and individuals should goose the economy, but not as much as President Trump wants. Improving business profitability should generate business investment, but some of the profits will go toward stock buybacks and shareholder returns. The rising stock market and burgeoning home values will encourage consumer spending, though not as much as Republicans would like until workers see bigger bumps in their paychecks. Tax cuts for individuals will help, but wealthier taxpayers, who tend to save more, benefit the most.
There are many factors that impact GDP growth, few of which have anything to do with the presidency. But I do think that the stock market will continue to rise, especially after the tax cuts this quarter.
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