U.S. Economy Surges To A 4.1 Percent Growth Pace In 2nd Quarter

[quote]Strong consumer spending helped boost growth alongside trade. A low unemployment rate, steady job and wage growth and the late-2017 tax overhaul may have encouraged spending by consumers and businesses in the second quarter. Consumer spending, business investment and government spending all rose.

12 million in government handouts to farmers is winning?

Of course the economy burns hot when you can plunder as quickly and widely as possible. Doesn't mean it's sustainable. It's so similar to W's economy. Burned HOT and then kaboom. Disaster.

Try 12 BILLION, R2. And the bottom will drop out. It always does.

better than giving 670 billion to NATO [more than promised ]

Remember the Obama-era mantra that 2% growth was the ‘new normal’? So muc h for that.

Drill all the oil and chop own the forests over a few years and the economy burns hot for those few years. Then there's nothing left. Like the Lion King when Scar took over.

[quote]or is he truly Teflon Trump?

Do you really have to ask?

This is a result of companies trying to beat the tariffs deadline. Economists know that this is an artificial and temporary surge. A recession is most likely to happen as a result of the tariffs and the trade wars.

Hold on to your MAGA hats, traitors!

Tax cuts. Unsustainable. Well, maybe sustainable if we keep borrowing. At higher rates now, since China hates us.

[QUOTE]Remember the Obama-era mantra that 2% growth was the ‘new normal’? So muc h for that.

It was so long as the Republicans kept government spending suppressed at the absolute worst time. The Republican congress purposely worked to depress the economy while Barack Obama was President instead of doubling down on stimulus.

Notice when a Republican gets in office, they turn on the spigot. Where’s those sequestration cuts now? A thing of the past. Where’s those righteous conservative cries about deficits? They’ve miraculously gone silent.

12 BILLION as has been mentioned R2 which we don't have unless we borrow from China.

The markets are down across the board. You'd think with the news, we'd have a booming day.

[quote]Remember the Obama-era mantra that 2% growth was the ‘new normal’? So much for that.

President Obama, whose first election took place during a debilitating economic collapse, had four quarters of higher growth than this during his presidency. The 4.1% this past quarter would tie for the 5th strongest quarter under President George W. Bush and 13th strongest quarter under President Clinton.

"Trump’s hostility to globalization is ruining the United States’ attractiveness as a place to do business. This year, net inward investment into the United States by multinational corporations—both foreign and American—has fallen almost to zero, an early indicator of the damage being done by the Trump administration’s trade conflicts and its arbitrary bullying of companies and governments. This shift of corporate investment away from the United States will decrease long-term U.S. income growth, reduce the number of well-paid jobs available, and reinforce the ongoing shift of global commerce away from United States. That shift will subject the entire world economy to greater instability."

Boom day was yesterday. R13. It's the old "sell on the news" mantra.

Economists are already predicting a downturn by Fall, leading to a major recession.

Economists can’t hit the broadside of a barn with their so-called predictions. I wouldn’t put much into that.

How can you sustain growth when the tax cuts are already built in and tariffs are causing price hikes and inflation? Once interest rates start rising, the economy will crash again. US is a bloated debter nation with not enough skilled workers (because only the wealthy can afford a good education, and even that is no guarantee of a good job).

He's our savior!

We don't need Social Security or Medicare any more!

They are of the Devil and Trump is of God!

Teflon.... that’s the stuff made in America but now spreads cancer across the whole globe in just a matter of years?

I'm beginning to think he's teflon. More and more controversies come out and his approval ratings just go up?! It makes no sense.

Thanks Obama!

The higher they rise, the harder they fall.

Check out what the economists were saying when the GOP was passing the tax cut law:

The law would elevate the GDP for about one year

And yet the middle class will ultimately have to pay the $1.5 trillion the tax cut costs

[quote]The markets are down across the board. You'd think with the news, we'd have a booming day.

Not helped by Facebook and Twitter shitting the bed. All it takes is one giant company to tank for a lot of others (even those who have nothing to do with that company) tanking too. Mass hysteria and all that.

He’s Teflon...until the economy starts to tank. It’s coming...

Thank you, Obama!

Who cares about treason when we have 4.1% growth! Yay!

Like someone said above, they held back spending under Obama then once Pres Bone Spurs gets in, they open the floodgates, but at the wrong time. Our deficit (I thought they cared about that? No, ok moving on) is a trillion. A trillion during GOOD times. That is fucking insane.

Throwing huge tax cuts into the economy during good times is fiscally insane.

He was handed a huge gift from Obama, a fundamentally sound, strong economy. Like all Repug Presidents, he is about to wreck the fuck out of it with the Repugs typical FISCAL INSANITY.

But hey, forget the TREASON, right, 4.1% is all we care about said no one ever.

Watch out for your SS and Medicare. I already heard a Repug Senator say it's time to reckon with their out of control spending.

The Senator (R-asshole) said it is time to "fix" SS and Medicare because they are "unsustainable." So right on cue, they are coming for everything the middle class relies on.

If you're so worried about social security and medicare being gutted, why turn around the flood the country with more people few of whom will ever contribute?

Nah, the economy is trucking along and can sustain SS and medicaid. One way or the other, motherfuckers.

I like this strong, fire sale economy. I don't like them and it's not their policies driving this. Hope they enjoy the costs of this 'boom' because from where I'm sitting I'm seeing the exact opposite.

My little town is dying. Shops have been shuttered and closed for the last 18 months with others headed for the same fate. The tourist trade is also down. You can inflate numbers like a trump baby balloon, but you can't inflate the loss of small business. They do nothing but favor the large conglomerates at the expense of the little guys.

The US has the largest deficit by far in the world. The countries with the biggest surplus are Germany, Japan and China.

The Republicans used to be for a balanced budget, but now they spend more and collect less. It’s all a giant set up for an economic collapse.

Amazing how the 'Tea Party' suddenly disappeared once a black man was no longer president. Hmmm.... so maybe it wasn't so much about the deficit as it was about skin color

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

[quote] If you're so worried about social security and medicare being gutted, why turn around the flood the country with more people few of whom will ever contribute?

Lie after lie after lie in this.

Just remember this Trump's 4.1 percent growth was the highest since 2014 when Obama was President.

That means even with a huge tax cut for the rich, an even larger tax cut for corporations, and fewer regulations, so far Trumps economy can't out do Obama's economy.

What's with the R1 pic of the guy with the nails?

Mid-continent Steel and Wire factory in Poplar Bluff just laid off 145 workers in nail production because of the effect of retaliatory tarrifs.

They expect to be 70% down in orders by end of August.

Steel and auto makers as well as farmers are chewing nails due to uncertainty and trade disruption.

Thanks to Obama, it would have been at 5% if it weren’t for the rethugs.

When are Americans gonna speak out against the administration holding back the economy?

It would be roaring right now if it weren’t for them.

Fight for 5% with a new congress!

Will 3rd quarter come out before election?

More winning.

I’ve moved 30% of my investment money to money market funds recently. (Essentially, cash). I will move more, up to maybe, 66%. This man is too erratic.

(R32) I'm going to give you the benefit of the doubt and pretend you don't know that most illegals use fake social security cards, which means that they are paying into both Social Security and Medicare with every paycheck and they'll never see a dime of benefits. 10,000,000 workers paying into a system adds up to a lot of pesos, my friend......

I agree the markets are shaky. While the GDP is good news it's all from factors - like the tax cuts - that can't be repeated. The deficit is a major alarm along with student debt, and housing starts are flat. I also have large cash positions now due to inherent risk of an inflated market. The U.S. Is a deteriorating country, and frankly, weak at the moment because of Trump and an entire brigade of R lackeys enabling him

This was 2nd quarter GDP before the tariff stuff has fully hit. It was goosed up by the tax cut but it is short term.

R41, yes, the end of October

I said when Trump was "elected" that the Republicans would juice the economy with tax cuts and massive spending, and it has come to pass.

I also said that the same activities would cause a massive recession, possibly on the scale of the Depression, and it will. Just not for a while yet.

The US, let alone the worldwide, economy does not turn on a dime. The things that Trump and the Republicans are doing will come home to roost... about when the Democrats take over the House, and possibly the Senate, so that they can swoop in and once again fix the mess that the Republicans created; and, of course, end up being blamed for the mess. It never fails.

[quote] I'm going to give you the benefit of the doubt and pretend you don't know that most illegals use fake social security cards, which means that they are paying into both Social Security and Medicare with every paycheck and they'll never see a dime of benefits.

That is a myth. Social Security gets alerted instantly when a fake SS number is used. Illegals aren’t paying into the system. The left doesn’t understand how the system works.

r49, read this.

and this

Also, illegals pay SALES taxes. Along with their slave wages.

I actually think the economy will tank by Fall. Look at the Facebook yo-yo twice in recent months. Trump has skated by so far with no disaster (beyond his own incompetent administration). Even Warren Buffet said after buying Apple recently that he could not predict what would having six months. Beware anyone who tells you market will keep going up after ten years straight. It’s unstable.

what would happen

This is what a WHITE MAN'S economy looks like.

(R49) Since you are a "SS security worker" (oh, uh huh), you might want to to talk to your "BOSS":

"The chief actuary of the Social Security Administration, Stephen Goss, estimates that about 1.8 million immigrants were working with fake or stolen Social Security cards in 2010, and he expects that number to reach 3.4 million by 2040.

Buffet bought into Apple recently? Oh boy, the old man's finally losing his marbles.

[quote]they are paying into both Social Security and Medicare with every paycheck and they'll never see a dime of benefits.

How do they survive in old age with no Social Security and no Medicare, given that they also don't make nearly enough money to set any aside while they're working?

[quote] How do they survive in old age with no Social Security and no Medicare, given that they also don't make nearly enough money to set any aside while they're working?

These folks are worried about food and shelter today, not 30 or 40 years from now. Saving for retirement -- if they are lucky to reach that age -- is not a top priority in their day-to-day struggle for existence.

I realize that, R59, but that's not my question. There are undocumented immigrants who have been in this country for decades and are at or well past retirement age. They likely haven't gotten consistent, quality healthcare over the years, so they may in fact have to stop working earlier. How do they survive? Is it a matter of extended families chipping in money to take care of their needs? What happens when they need $1,000 worth of diabetes medication every month or a heart transplant? You can't get that in the ER -- is there any assistance available to them or do they just die?

[QUOTE]This is what a WHITE MAN'S economy looks like.

[QUOTE]—Evangelical Caucasians

😂😂😂 WW R55.

China and other countries want our market, not our products. China has placed high tariffs on US goods for years. It’s about time someone leveled the playing field. Tax cuts and cutting of regulations effecting small business is helping the economy.

bwaa ha haa... R62. So it's not the 12 billion in aid to the 'farmers' thats doing it. Oh wait.. its the trickle down economics, right?

[quote] Tax cuts and cutting of regulations effecting small business is helping the economy.

Affecting, not effecting. The two words are not interchangeable.

Ah, such a delight to hear from the MAGA chorus. Yes, yes, tax cuts for the wealthy always help . . . the wealthy. The middle class, not so much. But keep spinning that tale of Donnie Drumph's wonderful economic magic. Let's see how the voters are buying that nonsense in November.

[quote] China and other countries want our market, not our products. China has placed high tariffs on US goods for years. It’s about time someone leveled the playing field.

Trump has demonstrated that he is a stupid man. He is ignorant of the facts, and is too stupid to educate himself; or listen to or read opinions of experts. He is making decisions on complex issues without understanding their history, or unintended, secondary, consequences. This will not turn out well. It is simply not possible. You cannot “guess” about something as complex as the US economy. It would be like the average person guessing on how to assemble a modern car. This will end in tears and most people already know it.

Here’s one thing the Republicans did that Wall Street loved:

US companies such as Apple had tons of cash that they made overseas. They had it in parked overseas, because it remained untaxed as long as they didn’t bring the money back to the US. Republicans lowered the tax, and the companies brought the money back.

Anyone could have thrown money at Apple and Google and Microsoft. That was easy. But it really doesn’t improve the living standard for anybody except its shareholders. It’s a very inefficient way of helping their employees, too. Everybody else - nothing!

Now, the fact is, if you give money to businesses, those businesses will do better and love you. But the country does need tax money to run itself. Our highest tax states are also the ones with the highest standard of living. That’s not a coincidence. So, on balance, the typical person, with little to no stock ownership, is worse off from this action. Like from most Republican economic action.

Where is the 12 billion for the car manufacturers? A Ford truck is going to cost $5000+ this coming year, because of steel tariffs. What about them?

[quote] Our highest tax states are also the ones with the highest standard of living.

NYC:

California

R58 They have large extended families who take care of them when they get old.

R62 That was hysterical. Funny how, during the 50's and 60's, our golden era of economic activity when the middle class boomed and became the world's envy, we had very high taxes on the wealthy and business was highly regulated. Yet, businesses were booming, we actually had mom and pop stores that fueled the middle class because big business was held in check. Cue extreme tax cutting and relaxing of business regulations and the middle class was wiped out along with mom and pop stores, the rich are extremely/profanely rich and our deficit has been out of whack every time we install these conservative economic policies. Every time we raised taxes on the rich and spent on programs that benefit the middle/lower classes (under Clinton and Obama), our economy boomed and our deficit went down or into surplus. You're a fucking moron.

R68, you could post as many sad pictures of poverty in NYC as you want, it still says literally nothing about standard of living. It’s nonsense intended to inflame stupid people who thinks a picture that reinforces their own stupidity must be significant.

The post at R69 starts with manipulative gobbledygook. I had to stop reading after that, as it is not an objective analysis. It’s more lies from the Right. Dishonesty is part of their brand.

R71 I ignored those stupid articles about poverty in CA or NY. Have these idiots ever been to MS, AL, GA, KY, TN, WV, IN or any other GAWD forsaken red state? They wouldn't survive a walk through in some of the scary rural areas.

I recently drove from Tampa Bay (pop 3 million) to Marion County, FL (pop 350,000). The main road was built similar to tertiary roads in New England, except with traffic similar to primary roads. It’s just one observation. They certainly have the relatively cheap land to build and maintain quality roads, but they prefer low taxes and alligators, there.

Inflation inschmation.

Tx claims low taxes but has very high sales and property taxes. The real genius with this is, people don't blame the state for these. They blame local or county government. Even if run by Repugs, they don't connect their taxes to them or even connect them as taxes. They think only INCOME taxes are actual taxes, even educated people. And Texas loves to "fee" everyone to death. But again, if it ain't INCOME taxes, everyone thinks we don't pay any.

[quote]Tx claims low taxes but has very high sales and property taxes. The real genius with this is, people don't blame the state for these. They blame local or county government. Even if run by Repugs, they don't connect their taxes to them or even connect them as taxes. They think only INCOME taxes are actual taxes, even educated people. And Texas loves to "fee" everyone to death. But again, if it ain't INCOME taxes, everyone thinks we don't pay any.

I'm not sure whether you're advocating it as a policy, but remember that lower income people actually spend the bulk of it on living, so such taxes often hit them harder than income taxes.

R77 No, I am not advocating it at all. It's regressive.

[quote]Social Security gets alerted instantly when a fake SS number is used. Illegals aren’t paying into the system.

Then, pray tell, what happens to the taxes deducted from their paychecks and sent to the government? Moreover, if the SSA is alerted "instantly" when a fake SS number is used, why don't they do something about it? Which brings me back to the point I've made here and elsewhere over and over: we could eliminate undocumented workers, illegal employment, and tax cheats overnight [italic]if we wanted to[/italic], but we don't, and the proof is that a single prosecution and conviction of a high-profile employer caught paying undocumented workers would scare the bejesus out of corporate America, and would curtail, if not end, these illegal practices. But that would mean losing a big Republican donor, and we can't have that.

Not just that, R79, but the laws on undocumented employees can’t be inforced without destroying some industries, such as migrant farming and poultry farming. It’s a matter of political cowardice. The pols, some of them, esp. Republicans, rail against immigrants; yet we all benefit so much from these immigrants, that it’s all just bluster.

This is why the SSA does not bother upgrading their systems to quickly catch all misuse of SSNs by undocs in employment. With 20th century technology, it should be instantaneously detected. If fact, at this point, they may have to actually make an effort to screw it up on purpose, to avoid detection.

Of course, any attempt at a "national" ID system or updating of Social Security instantly gets the militia and tinhat people screaming - not to mention the fundies who start with "mark of the beast" end of the world lunacy.

The RW doesn't want to solve the immigration problem. It works for them. Much like they love the migrant crisis in the EU. They will never solve that, either. It is recruitment at its finest. Meanwhile, their policies is what is driving the crisis both here and there.

Here- Cheap Labor Conservatives wanted to break unions and provide business with cheap labor to boost profits. Cue Reagan and GWH Bush providing amnesty. Meanwhile, Clinton and more so, Obama, deported them with Obama doing so in record numbers. Now that the children of these immigrants are US citizens and vote Blue, suddenly it is an issue but it won't be fixed by the right. They need this issue to stay active.

There- W's destruction and destabilization of the ME has led to the migrant crisis.

[quote] I ignored those stupid articles about poverty in CA or NY.

Of course you do, that's why you post opinions based on willful ignorance, you ignore facts and live in a fantasy world.

R83 I ignore RW bullshit and spin. But thanks for playing.

I see, R83. You mean like that "RW" publication called "LA Progressive"?

It is expensive to live in blue states due to the success. Property values are sky high. That, sadly, leaves people behind which is why they were ground zero for a dramatic increase in the minimum wage.

I live in a big city and see the wealthy vs. poor dynamic everywhere. Americans have been conditioned to think this is normal and “not my problem,” as if someone else will take care of it. It’s a very selfish country, and the “great” economy primarily benefits the rich. They will be able to hang out during the next recession but most Americans will be in bad shape. You can’t keep cutting services and not creat a giant class of poor people. Sad.

R87 Well, the rich need even more money, dear. How can you expect them to live on a mere few billion? You can't buy Senators with a few billion, ya know!

President Obama wanted to lower the corporate tax rate to 28%, he proposed it in 2012, 2013, 2014, 2015 and 2016. Republicans opposed it because they OBSTRUCTED everything Obama.

[quote] If the 28 percent corporate tax rate sounds familiar, that’s because it is: It was the same rate that President Barack Obama proposed in 2012 and again in 2013, when he also proposed to lower the tax rate for United States manufacturers to 25 percent. He made the proposal again in 2014, 2015 and 2016. Each time, his tax plan was summarily dismissed by Republicans who called the rate too high and uncompetitive.

R83 Our derrrr leader said poverty doesn't exist anymore. Do you doubt him?

R89 Yep, Obama proposed all sorts of things like that. As well as Comprehensive Immigration Reform. Stopped and obstructed every single time. Why? The Repugs don't want to solve anything or want to wait until they have their own in office. Vile, sick people.

So at what point does this become Trump’s economy?

It is a mix now. His tax cuts plus his deregulations have kicked in. His tariff shit will soon.

The economy in 09 became Obama's quickly because he and the Dems put in effect the stimulus and auto bailouts. Prez Bone Spurs and the Repugs didn't pass one piece of legislation his entire first year. So it was still all Obama.