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[TheLaughingStock]

https://www.cnbc.com/2018/07/27/tru...ot-higher-than-4point1percent-gdp-number.html

President Donald Trump pitched his economic record to voters Friday, boasting that strong numbers released earlier in the morning were "sustainable" and blasting Democrats for wanting to "raise everybody's taxes."

"We're going to go a lot higher," Trump said, referring to the report that showed a 4.1 percent rise in gross domestic product during the second quarter. It was the highest quarterly jump in nearly four years.

During a speech on the White House South Lawn, he predicted that the country was on track for its highest annual growth rate in over 13 years.

Miss the days when Trump was going to cause a crash in the US by:

1. Being elected
2. Cutting taxes

Looking back I don't see why some people thought bad things were in store. The govt taking less of your money is good when inflation is low. And the election stuff doesn't matter.

 

[Spheyr]

Looking back I don't see why some people thought bad things were in store.

TDS

The govt taking less of your money is good when inflation is low.

B-b-b-b-b-but the people who were paying the most into the system benefit more from a percentage-based decrease and wahhhhhhhhhh it isn't faaaaaaaaaaaair that I wasn't paying taxes already and don't get a big savings toooooooo bwaaaaaaaaaaaaaaahhhhhhhhhhhhhhhhhhhhhhhhh

 

[tanooki27]

TDS


B-b-b-b-b-but the people who were paying the most into the system benefit more from a percentage-based decrease and wahhhhhhhhhh it isn't faaaaaaaaaaaair that I wasn't paying taxes already and don't get a big savings toooooooo bwaaaaaaaaaaaaaaahhhhhhhhhhhhhhhhhhhhhhhhh

please don't do that

 

[Spheyr]

please don't do that

Make fun of stupid people? Hit too close to home or something?

 

[PonyStation4]

This is exactly what Putin wants, Drumpf is playing right into his hands! Russia just keeps winning and America keeps losing

 

[Spheyr]

My stocks keep rising, we need to keep at this trend of failure

 

[Nobody_Important]

Lets wait and see the damage his tariffs do before we start congratulating the buffoon.

 

[Spheyr]

Lets wait and see the damage his tariffs do before we start congratulating the buffoon.

This guy never read Art of the Deal

 

[Forthefuture]

This guy never read Art of the Deal

You mean the book Trump didnt write?

 

[Trogdor1123]

This guy never read Art of the Deal

No, he is right. Wait and see what the impacts are. Good or bad, it needs to be considered and that will take time

 

[Nymphae]

Make fun of stupid people? Hit too close to home or something?

The prose was obnoxious. Just tone the repeating characters down a bit.

 

[Spheyr]

The prose was obnoxious. Just tone the repeating characters down a bit.

You're not my mom.

 

[Nymphae]

You're not my mom.

But the post was obnoxious. You're free to continue writing like a 5th grader, but your points will be absorbed by others better if you aren't writing so obnoxiously.

 

[finowns]

I don’t like him but his success is our success so let’s hope him that

 

[Spheyr]

But the post was obnoxious. You're free to continue writing like a 5th grader, but your points will be absorbed by others better if you aren't writing so obnoxiously.

You're free to huff your own farts, but do me a favor and stop tagging me forever.

 

[Nymphae]

You're free to huff your own farts, but do me a favor and stop tagging me forever.

You're it.

 

[iconmaster]

Really hope he doesn't get impeached now. I don't think he's a great human being, but he does seem to be good for the economy.

 

[Joe T.]

I don’t like him but his success is our success so let’s hope him that

I wish more people thought that way.

 

[rokkerkory]

Was hoping the market would respond super positive about this news today but it isn't. =/

 

[zelo-ca]

Was hoping the market would respond super positive about this news today but it isn't. =/

The market has these numbers baked into them already. Market usually reacts on brand new news. Good example is the EU-USA trade deal a few days ago. Stock market jumped after that cause it was unexpected

 

[rokkerkory]

The market has these numbers baked into them already. Market usually reacts on brand new news. Good example is the EU-USA trade deal a few days ago. Stock market jumped after that cause it was unexpected

Dow losing 125 points was pre-baked? I derno about that.

 

[Nobody_Important]

strong 4.1% growth under Trump in Q2 of 2018 would rank as 5th strongest Q of Obama presidency

—5.1% Q2 2014

—4.9% Q3 2014

—4.7% Q4 2011

—4.5% Q4 2009

 

[Ke0]

Good on US, Trump and Trump Jr's tweets are utterly embarrassing though.

 

[Forthefuture]

Holy hell! Where is that gif from?

 

[Nobody_Important]

Holy hell! Where is that gif from?

Its a very old photoshop. I break it out for all occasions though where Obama did something great lol

 

[Deleted member 17706]

Was hoping the market would respond super positive about this news today but it isn't. =/

Well, a lot of people probably see 4.1% as fairly weak considering a lot of is a front-loaded reaction to the impending tariffs. Apparently soybean exports alone counted for 0.6 points of that 4.1% and were way up because the people ordering know tariffs are about to spike the prices.

 

[llien]

Holy hell! Where is that gif from?

It's from "Bin Laden is dead" times.

 

[llien]

Apparently soybean exports alone counted for 0.6 points of that 4.1% and were way up because the people ordering know tariffs are about to spike the prices.

Trump seems to have secured soybean deal with EU. The way I got the tone of the German news host, EU basically gave in, to avoid trade war.

 

[oagboghi2]

Lets wait and see the damage his tariffs do before we start congratulating the buffoon.

This from this coming from the side that was predicting a depression if he won....now you want to "wait and see"

 

[NickFire]

OMG, the economy is going well. Quick, start screaming about Russians, porn stars, and lawyers who deceive their own clients. Its the only thing that can save the Republic from this awful economic growth.

 

[Nobody_Important]

This from this coming from the side that was predicting a depression if he won....now you want to "wait and see"

As someone already pointed out a good portion of the growth is soybeans due to his absurd tariffs that will be put into place later this year unless by some miracle the idiot changes his mind. Those tariffs will likely do alot of damage to the numbers we are seeing now. So yeah I am gonna wait and see how long this growth can be maintained with him levying tariffs on allies and enemies alike.


I have zero confidence in his ability to maintain this growth if he continues doing what he is doing. But I have every confidence in his ability to be foolish enough to let his fragile ego get in the way of what little common sense he has.

 

[Sub_Level]

The soybean tariffs are a good thing. We need to consume less soy.

 

[oagboghi2]

As someone already pointed out a good portion of the growth is soybeans due to his absurd tariffs that will be put into place later this year unless by some miracle the idiot changes his mind. Those tariffs will likely do alot of damage to the numbers we are seeing now. So yeah I am gonna wait and see how long this growth can be maintained with him levying tariffs on allies and enemies alike.


I have zero confidence in his ability to maintain this growth if he continues doing what he is doing. But I have every confidence in his ability to be foolish enough to let his fragile ego get in the way of what little common sense he has.

oh right I'm sure those taiffs will really harm us...just like we were supposed to be in a depression a year and a half ago, right? I'm seeing a lot of ego here, and wishful thinking, but it's not from Trump...


Also a 4.1% GDP growth because of a soybean deal that is barely a week old. Fuck outta here, can you stretch any further? you're predictions were wrong, and have ben wrong every quater. Take the L

 

[Nobody_Important]

oh right I'm sure those taiffs will really harm us...just like we were supposed to be in a depression a year and a half ago, right? I'm seeing a lot of ego here, and wishful thinking, but it's not from Trump...

Guess we will find out after the Tariffs hit then.

 

[Deleted member 17706]

The soybean tariffs are a good thing. We need to consume less soy.

Who is we? The USA is the biggest producer of soybeans on the planet. The soybean tariffs we're talking about are on exports from the U.S. not imports...

Trump seems to have secured soybean deal with EU. The way I got the tone of the German news host, EU basically gave in, to avoid trade war.

Yeah, nobody can tell exactly where things will go from here, but just commenting on the current situation and the numbers being presented here.

 

[Death Dealer]

Look at the long term trends under Obama. He might have had a few quarters with steady growth, but he was also the first president to never have an average year topping 3% GDP growth. The quarter before a few of the stronger ones, there was weak or negative growth. Average it out on a yearly basis, and the economy under all 8 years of Obama was lackluster.

4.1% for the last quarter under Trump is good. But it will be even better if he keeps it at 4% for several quarters in a row. His pro growth policies have not been in place long, this quarter could just be the start of a huge economic expansion.

 

[Nobody_Important]

4.1% for the last quarter under Trump is good. But it will be even better if he keeps it at 4% for several quarters in a row. His pro growth policies have not been in place long, this quarter could just be the start of a huge economic expansion.

Yeah that could happen.........or his constant threats to levy tariffs against allies and enemies alike could tank what progress he has made since he came into office.


If he drops all of his ridiculous posturing and removes all the tariffs he put in place then yes I would agree the future would look bright, but tariffs and trade wars are typically not great for economies.

 

[Spheyr]

My family grows soybeans.

Wait let me backtrack.


My family is filthy rich off soybeans to the point where one pair of brothers has come to blows over quarterly shares of profits that could buy entire towns because their mother passed recently and nobody else wants to stand between them and hold them away from each other while they contest each other's share of the farms themselves.

Yeah that's better.


That said, none of them are the least bit concerned about tariffs on soybeans because they can barely keep up shoveling the gold coins into their silos to swim in like Scrooge McDuck

 

[NickFire]

oh right I'm sure those taiffs will really harm us...just like we were supposed to be in a depression a year and a half ago, right? I'm seeing a lot of ego here, and wishful thinking, but it's not from Trump...


Also a 4.1% GDP growth because of a soybean deal that is barely a week old. Fuck outta here, can you stretch any further? you're predictions were wrong, and have ben wrong every quater. Take the L

I am so confused. Last week it was thanks Obama for the economy because current presidents only set the stage for future economies so Trump deserves no credit even for the post-tax break economy. Now its the economy is really on the verge of collapse even though its doing well because of Trump doing stuff in the quarter with great numbers. My neck hurts from all the whiplash.

 

[Harksteed]

TDS


B-b-b-b-b-but the people who were paying the most into the system benefit more from a percentage-based decrease and wahhhhhhhhhh it isn't faaaaaaaaaaaair that I wasn't paying taxes already and don't get a big savings toooooooo bwaaaaaaaaaaaaaaahhhhhhhhhhhhhhhhhhhhhhhhh

Newgaf is a great place now that left and right can have mature discussions

 

[Corrik]

I read all like 500 pages of the GAF election topic the other day. If interested, around page 180 the democrats in the topic get really cocky and start talking about flipping texas in a landslide. Around page 195 nervousness starts to creep in. And around page 220 there are in a full on meltdown.

But, that said, there was one poster that when it became apparent Trump would win that said they pulled all of their stock and 401k out before it crashed and he lost all his money. Woops.

 

[Super Mario]

Look at the long term trends under Obama. He might have had a few quarters with steady growth, but he was also the first president to never have an average year topping 3% GDP growth. The quarter before a few of the stronger ones, there was weak or negative growth. Average it out on a yearly basis, and the economy under all 8 years of Obama was lackluster.

4.1% for the last quarter under Trump is good. But it will be even better if he keeps it at 4% for several quarters in a row. His pro growth policies have not been in place long, this quarter could just be the start of a huge economic expansion.

Beat me to it. Thank you for dispelling the fake news.

Neither side ever skips a beat with the whole "things are good because of the last guy" or "things are bad because of the new guy". Long-term trends are the best way to define a leader. Obama's trends are said and done, and the verdict is he was terrible for GDP growth. With his policies, it was no surprise. Trump so far has been very friendly to American business. Lowering taxes and regulations are a huge way to get confidence up in investing in America. The whole tariff deal is sure to introduce some volatility, but it is action taken against our biggest economical hurdle.

 

[Sub_Level]

Newgaf is a great place now that left and right can have mature discussions

This but unironically. A few shitposts are a small price to pay to allow discussion on a discussion board. I dont think anyone expected high level discourse. Its just refreshing to be able to actually talk, you know. Like breathing outside air after being in a stuffy room.

 

[Harksteed]

This but unironically. A few shitposts are a small price to pay to allow discussion on a discussion board. I dont think anyone expected high level discourse. Its just refreshing to be able to actually talk, you know. Like breathing outside air after being in a stuffy room.

TDS xd

 

[Spheyr]

Newgaf is a great place now that left and right can have mature discussions

If you want a mature discussion maybe you shouldn't look on a gaming forum

 

[Panda1]

*Moderation Edit*
This is either sarcasm that didn't transpose well over the internet, or, if this is not sarcasm, please state your post with less inflammatory language.

 

[TheMikado]

Look at the long term trends under Obama. He might have had a few quarters with steady growth, but he was also the first president to never have an average year topping 3% GDP growth. The quarter before a few of the stronger ones, there was weak or negative growth. Average it out on a yearly basis, and the economy under all 8 years of Obama was lackluster.

4.1% for the last quarter under Trump is good. But it will be even better if he keeps it at 4% for several quarters in a row. His pro growth policies have not been in place long, this quarter could just be the start of a huge economic expansion.

The economy was in full contraction when Obama took office. Taking in 2008-2008 it was at -2.8% contraction and went to 2.5 Growth in the course of a year. Technically much larger growth for that year. But that's why we don't just look at individual points of growth and claim its resolved. Its an average. Again sustained growth is key. Obama's policies were not going to sustain growth and things like Obamacare created too many domestic shocks in an economy which was still in recovery mode.
That being said, 4.1% growth pretty standard between administrations. like I said Obama's presidency generated a net 5.3% increase in 2010, but the key is sustained growth not individual growth point. Only a fool would think we're out of the woods or trumpet this as a success.

Just for reference:

 

[KINGMOKU]

Lets wait and see the damage his tariffs do before we start congratulating the buffoon.

I'm going to fix this for you because after a day of NPR I need to correct someone on it;

Let's wait and see what happens 6 months to a year from now.

I have grown really tired of the mainstream media yelling the sky is going to fall after these numbers were revealed. We all know the tariffs are going to have an impact, that's the obvious point and no one is going to disagree. No one.

The United States economy is cruising right now, and is the largest in the world. This means we can throw our considerable weight around and just wait out countries to fall into line. They may hold out longer then expected, but some of them will not.

Unless they want to wreck their own economies of course.

Not attacking you personally, it just seems some folks are waiting for the second something bad comes from these tariffs when the mid-game is in play here, not the short term.

 

[dolabla]

I read all like 500 pages of the GAF election topic the other day. If interested, around page 180 the democrats in the topic get really cocky and start talking about flipping texas in a landslide. Around page 195 nervousness starts to creep in. And around page 220 there are in a full on meltdown.

But, that said, there was one poster that when it became apparent Trump would win that said they pulled all of their stock and 401k out before it crashed and he lost all his money. Woops.

Literally one of the most hilarious meltdowns I had ever seen. If I remember correctly, I think I popped in there with "So proud of this country" message or something like that . I'm surprised I didn't get banned, but that thread was moving super fast. It just got buried in there with all the meltdowns.

 

[Spheyr]

lol NPR