2Q GDP comes in at 2.1%, beating expectations

[GhostOfMatchesMalone]

Here's how CBS radio just spun the results: "Growth of the US GDP slowed in the second quarter, thanks to those Trump tax cuts."

Here's how CBS radio would have reported the results if a dem was president: "The red-hot US economy continued its winning streak in the 2nd quarter. US GDP posted a better-than-expected 2.1% growth rate, based mostly on the President's tax cuts, which have boosted consumer spending and confidence further in an already robust economy."

 

[bradleygator]

2.1 percent is butt, particularly with all the money we’re printing.

 

[Sunburnt Indian]

Ghost has Amerikan Pravda pegged.

 

[bradleygator]

Mmmmmhm. And how is the brain trust here different? If 2.1 percent came in under Obama, you’d be looking for a blood letting.

 

[urtren]

Where is that great business investment that justifies 1 Trillion annual deficits? Oh yeah, in the pockets of Trump and his cronies. MAGA suckers thrilled funding the lifestyles of the rich and famous.

 

[urtren]

America First, what a con job

 

[bradleygator]

View embedded media

America First, what a con job

The NYT is politically biased and therefore not credible. As proof, let me go find and post a tweet from some random hillbilly.

 

[GhostOfMatchesMalone]

Ghost has Amerikan Pravda pegged.

As well as the sheep here

Trump is the only President in American history who posted GDP numbers that beat expectations, and then was BLAMED for doing so LMAO!

Dueling spins from the media: CBS says the GDP BEATING forecast can be BLAMED on Trump tax cuts. Then the chick in tweet above says same thing in different way: Consumers are powering this economy.

LOL! Again, hottest economy in the history of the country, and media tries to spin that Trump gets the BLAME for that.

Sheep nod along...

 

[urtren]

Hottest economy? Just demonstrably false

https://www.wsj.com/articles/econom...-mark-last-year-revised-data-show-11564144200

Or is the WSJ and Faux News liberal now?

 

[GhostOfMatchesMalone]

Never Trumpers are everywhere.

Lotta people gonna be embarrassed when their grandkids ask them if they supported Donaldus Magnus or not.

"Oh grandaddy.....please tell me you didn't listen to CNN. You weren't an idiot like mommy says, were you grandaddy?"

 

[urtren]

Yep, what I figured. Trump is the only truth.

“To announce that there must be no criticism of the President, or that we are to stand by the President, right or wrong, is not only unpatriotic and servile, but is morally treasonable to the American public.”
Theodore Roosevelt

 

[AgentOrange2217]

Hillary Clinton said dissent is patriotic...what she didn't say was..."dissent is only reserved for/towards Trump, the RNC, the republican party, conservatives, the basket of deplorables..dissent towards Obama, myself, the DNC, the NYT, CNN, MSNBC, Chuck Todd (and anyone connected with them) is a no-no and taboo."

Remember...GWB had his "you're either with us or you're against us" (with Iraq).

Nobody in power willingly accepts dissent (towards them or their plans/goals).

Politics is messy.
Don't be messy...unless you have to be

Agent Orange

 

[Sunburnt Indian]

Considering the European Union and China's current economic conditions, a 2.1 for us is not that bad. We're buying the Bic safety razor and cigarette lighter made in France. France poor economic conditions means the French stiff ain't buying the Rayovac battery made in North Carolina.

 

[AgentOrange2217]

If GDP really meant anything...things would be fine...but things are not fine (globally)...the TBTF banks are trapped, IMO, of a mess they've made...interesting how they can make money by printing...but they're trapped with all their derivatives, CDS's, and gosh knows what else they've cooked up...saw on US debtclock.org...we're only about $129 trillion in the red...in between debt, the central banks, US retirement pensions being what they are (severely underfunded)...who's gonna change the chairs around on the Titanic?

Agent Orange

 

[bradleygator]

Yep, what I figured. Trump is the only truth.

“To announce that there must be no criticism of the President, or that we are to stand by the President, right or wrong, is not only unpatriotic and servile, but is morally treasonable to the American public.”
Theodore Roosevelt

Now did he say that when he was running for president, while he was president or after he was president?

 

[urtren]

General point:

 

[GhostOfMatchesMalone]

Not sure how old the sheep are ITT, but I remember hearing less than 10 years ago that any criticism of obama's negative GDP (or really anything he did) meant you were a racist.

 

[Sunburnt Indian]

Baseless racist charges is MO for the left. Aren't we getting it yet, class?

World debt could bury us all. Guess who'll be blamed. You guessed it.

Obama's strangling of GDP was due to excessive regulation. I've recommended The Communist Manifesto by Marx and Engles. The authors use small words. Have we read it yet?

Trump's claim to fame has been simple deregulation. This is not wave mechanics. Nothing hard here.

 

[bradleygator]

Not sure how old the sheep are ITT, but I remember hearing less than 10 years ago that any criticism of obama's negative GDP (or really anything he did) meant you were a racist.

When was Obama’s negative gdp? You mean eught

Baseless racist charges is MO for the left. Aren't we getting it yet, class?

World debt could bury us all. Guess who'll be blamed. You guessed it.

Obama's strangling of GDP was due to excessive regulation. I've recommended The Communist Manifesto by Marx and Engles. The authors use small words. Have we read it yet?

Trump's claim to fame has been simple deregulation. This is not wave mechanics. Nothing hard here.

How’s Trump on debt oh wise one?

 

[GhostOfMatchesMalone]

When was Obama’s negative gdp? You mean eught

GDP for obama's first year in office was -2.8%.

 

[BoxofFrogs]

If GDP really meant anything...things would be fine...but things are not fine (globally)...the TBTF banks are trapped, IMO, of a mess they've made...interesting how they can make money by printing...but they're trapped with all their derivatives, CDS's, and gosh knows what else they've cooked up...saw on US debtclock.org...we're only about $129 trillion in the red...in between debt, the central banks, US retirement pensions being what they are (severely underfunded)...who's gonna change the chairs around on the Titanic?

Agent Orange

Speaking of pensions.
Also, i read today that the house has agreed to pass a new budget
that will add another $1 Trillion to the debt and as usual
Ms. Pelosi came out as the winner because the majority of that
budget will be spent on social programming. First time in a long time
that more money will be spent on social programs than is spent on
the Pentagon. Trump and Nancy work so well together!
AIN'T THAT GOOD!!!
YES!, the economy is BOOOOOOOOOMING!!!!!!
One more year of propping up the economy with "free freshly printed money"
to get Trumpy Bear another 4 years and it will be shit hit the fan time!

https://www.zerohedge.com/news/2019-07-25/6-trillion-pension-bailout-coming

 

[Sunburnt Indian]

bradleygator, Trump is an unmitigated mess on debt. Insiders tell me the plan is for economic growth to fund all the crazed spending. So far, no worky.

Few in congress seem to show much concern about runaway spending. Should the world's first metric currency lose world reserve currency status, we're Greece.

The British pound Sterling went metric in 1970. And now simple people like me can make change in all currencies.

 

[GhostOfMatchesMalone]

bradleygator, Trump is an unmitigated mess on debt. Insiders tell me the plan is for economic growth to fund all the crazed spending. So far, no worky.

Few in congress seem to show much concern about runaway spending. Should the world's first metric currency lose world reserve currency status, we're Greece.

The British pound Sterling went metric in 1970. And now simple people like me can make change in all currencies.

US will be debt-free by 2025. Keep watching.

 

[bradleygator]

US will be debt-free by 2025. Keep watching.

If we are, the dollar will be looking up at the Argentinian Peso.

 

[bradleygator]

GDP for obama's first year in office was -2.8%.

Yeah my post got cut off. I was going to say when he first took over and was handed the worst economy since the Great Depression by Bush jr.

How do expect to be taken seriously when you make such ridiculous arguments? Do you know they’re ridiculous and you’re just intellectually dishonest, or are you so ignorant you don’t understand the flaw in the argument?

 

[DCandtheUTBand]

US will be debt-free by 2025. Keep watching.

Impossible. We need a Balanced budget Amendment (BBA) with a cap on GDP of 18% which was historical average for revenues before Obama. That requires the Convention of States to force it on the District of Corruption. Then debt can be paid down over time like a credit card that has been cancelled. Worstington District of Corruption will not solve this without being forced to do it either via total collapse or a BBA

 

[GhostOfMatchesMalone]

Impossible. We need a Balanced budget Amendment (BBA) with a cap on GDP of 18% which was historical average for revenues before Obama. That requires the Convention of States to force it on the District of Corruption. Then debt can be paid down over time like a credit card that has been cancelled. Worstington District of Corruption will not solve this without being forced to do it either via total collapse or a BBA

Keep watching.

 

[GhostOfMatchesMalone]

If we are, the dollar will be looking up at the Argentinian Peso.

What is the Federal Reserve?

Started by who?

For what purpose?

 

[BoxofFrogs]

Yeah my post got cut off. I was going to say when he first took over and was handed the worst economy since the Great Depression by Bush jr.

How do expect to be taken seriously when you make such ridiculous arguments? Do you know they’re ridiculous and you’re just intellectually dishonest, or are you so ignorant you don’t understand the flaw in the argument?

I'll go with the latter statement!

 

[AgentOrange2217]

View embedded media

Where is that great business investment that justifies 1 Trillion annual deficits? Oh yeah, in the pockets of Trump and his cronies. MAGA suckers thrilled funding the lifestyles of the rich and famous.

Those MAGA suckers act so much like those "Hope & Change" suckers...don't they?
We've gone from the pig to adding lipstick to the same pig...and the libs squeal in unrighteous disgust...never admitting the lousy game they play.

The libs thought Green$pan, Bernanke, and ole Yeller (Yellen) were 'da bomb...as long as they kept their Hamptons friend$ awa$h in money.

Even when Bernanke said the subprime housing problem was contained.
Until it wasn't.

Ooooops!

Agent Orange

 

[Sunburnt Indian]

There is indeed a way to be debt free by 2025 but I don't see it coming that early. Maybe Ghost sees something I don't.

The Federal Reserve replaces the current dollar with a super dollar. The current buck will become a mini fraction of the new super buck and will fade into oblivion. World reserve status makes it possible.

Zimbabwe shelved their dollar in 2008 but couldn't replace it. Robert Mugabe introduced Marxist economic policies in the early eighties. At the time, the Zim buck was higher value and more stable than the Carter dollar.

 

[AgentOrange2217]

Impossible. We need a Balanced budget Amendment (BBA) with a cap on GDP of 18% which was historical average for revenues before Obama. That requires the Convention of States to force it on the District of Corruption. Then debt can be paid down over time like a credit card that has been cancelled. Worstington District of Corruption will not solve this without being forced to do it either via total collapse or a BBA

Ain't gonna happen...in this lifetime or any future lifetime.
This notion threatens the TBTF banks.
And this will go the way of the dodo bird: extinct thinking.

Too bad this couldn't happen, though.

Agent Orange

 

[DCandtheUTBand]

Ain't gonna happen...in this lifetime or any future lifetime.
This notion threatens the TBTF banks.
And this will go the way of the dodo bird: extinct thinking.

Too bad this couldn't happen, though.

Agent Orange

Well not really. The banks are covering for the governments spending. They will be big losers when it all goes down. Gubmint props them up and they cover the tab. You know its all funny money but its a symbiotic relationship but the real parasite is the government and its addiction to spending to stay in power both domestically and militarily. I dont mind the latter as much because its financial burden is overstated even though we outspend everyone combined, SS MC/MC and welfare make up more than 2/3rds the budgets and the military about 20%. We need the military for defense even if it is full of waste fraud and abuse. SS MC/MC and welfare didnt exist before the 1930s/60s and this country was just fine and there were not a bunch of people dying in the streets.

Long and short the banks might be very happy to see a BBA as it would help the economy in the long run and make it more likely that their biggest deadbeat customer Uncle Samsky can actually pay off his credit card that he forced them to issue him at the point of a gun.

A less encumbered and motivated electorate needing and using the credit would be a boon for the banks and a better ROI than servicing Samsky who is in so much debt that any real raise in interest rates will collapse the entire global economy.