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"White House economic advisers are spreading the word that second-quarter GDP, out Friday, may surpass 4% - the first time growth has hit or exceeded that number since the third quarter of 2014, FOX Business has learned.
Ahead of the data, Trump administration officials are preparing a major victory lap and plan to use the strong data points as proof that the president’s economic policies of lower taxes and deregulation have reversed years of economic malaise that followed the financial crisis and President Barack Obama’s fiscal agenda, according to people close to the White House."
[...] If GDP does surpass 4% on a quarterly basis it will be the first time it has done so since the third quarter of 2014, when it registered 5.2% during Obama’s second term in office. Even so, economic advisers in the Trump administration, such as Larry Kudlow, have blamed Obama’s policies of higher taxes and enhanced regulations for the relatively feeble economic growth during his eight years in office, where GDP never grew above 3% on a yearly basis.
[...] Still, as the White House prepares to tout GDP as evidence of the administration’s economic prowess and progress, some business leaders and economists have expressed doubts that certain fiscal policies, as they relate to trade, may be problematic and soon endanger growth.
Trump has engaged in a trade war with many trading partners, slapping tariffs on foreign goods and materials, and threatening to walk away from the North American Free Trade Agreement [NAFTA], a trade deal the country has with Mexico and Canada.
[...] Many countries have responded with tariffs of their own on U.S. products sold abroad, and there’s growing anecdotal evidence that American manufacturers are being hurt by the tariff war. It’s unclear if the retaliatory tariffs and their negative impact on the sale of U.S. goods abroad will show up in the second-quarter GDP numbers, but most economists believe such policies will ultimately hurt economic growth.
“Without question, tariffs will hit growth in the coming quarters as companies face higher prices and supply bottlenecks, and investment and consumption fall relative to where they would otherwise be,” Benn Steil, senior fellow and director of international economics at the Council on Foreign Relations, tells FOX Business. “The only question is by how much, which depends on how far tariff madness spreads,” he warns.
“I would remind folks that the president's team has already said, ‘There will be no retaliation.’ They've already been wrong,” [CEO of JPMorgan Chase, Jamie] Dimon told CNNMoney. “If I was the president, I'd be a little ticked off at some of my advisers, to tell you the truth.”
foxbusiness.com/economy/us-economic-growth-nears-5-time-to-celebrate
(Score: 3, Insightful) by Anonymous Coward on Friday July 27 2018, @08:28AM (6 children)
I know that 300,000,000 grains < 2 tonnes, but at the rate the BS pours from His Orangeness, I'm affraid what the amount of salt you need to take will do to your blood pressure. Just take care, folks, OK?
(Score: 1, Informative) by Anonymous Coward on Friday July 27 2018, @10:39AM (2 children)
dude, just take a proper mineral-rich salt so that the raw NaCl doesn't f**k up your blood-pressure and realize that his orangeness is here to deal with our fiscal bankruptcy and to resolve it.
we're so broke and overextended from pursuing the exceptional-ism canard that we're a 3rd world nation in many ways today. you know one of those that get these bigmouths? that's where we are and why we have this master of bankruptcy and intimi-deal-making at the helm.
tl;dr; chill, yes its all nuts, but you're not better -- cause its all just kabuki, part of the bulldozing behind trumpish turn-around work. recommend you don protective clothing and search for a summary of the man's own doctrine (art of the deal) and use that as a translation matrix to see/understand what and how he's actually doing ahead of a fiscal/civil melt-down you may not yet perceive as inevitable. (see anacyclosis)
2000kg / 64,79891mg = 30,86 10^(3-(-3))g .. e.g. real is about a 10th less than what you thought. same with trump -- who's going to spin things as great no matter what. see the f* art of the deal for the decoder ring my man.
(Score: 1, Touché) by Anonymous Coward on Friday July 27 2018, @10:55AM
Your tl;dr; is not supposed to be longer than the rest of your post.
(Score: 0) by Anonymous Coward on Friday July 27 2018, @11:55AM
It is called bullshit, son, no matter how you turn it.
I can recommend you a phrenologist if you are into this kind of things.
(Score: 3, Insightful) by Anonymous Coward on Friday July 27 2018, @10:53AM (2 children)
Trump would rather climb a tree to tell a lie than stand on the groud to tell the truth.
(Score: 2) by fyngyrz on Friday July 27 2018, @01:27PM (1 child)
...statistics. Like the unemployment numbers, the US Economic Growth Rate is a profoundly deceptive number. Many will believe it because it suits them to. Certainly not because it represents any real economic gains for the people of this country.
(Score: 4, Insightful) by Anonymous Coward on Friday July 27 2018, @02:22PM
Wouldn't matter if he was talking about the weather, or the score of a game played 10 years ago, or anything else. His casual relationship with the truth means he will lie about some, or all, of what he talks about.