3.3% GDP !

Althea said:
Where?
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The maritime industry is booming. Ports are full, shipping is backed up inbound and outbound. On the fishing side, they cannot keep up with demand. Ports are back to 24/7 operations, etc. The more traffic the better this economy is doing, supplies in, products out. Even on the boat building side things are taking off. Large yards are gearing, disco boat yards (pleasure boats) are booming. When you pull into ports all you see is cranes so the construction industry must be booming also. Pretty much everywhere you look.
 
Darth Omar said:
It went up with some justification, it seems.
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3% is hardly "boom bust". all the indicators are looking good -not just the stock market.
Once we get tax reform it will lock in these gains.

MAGA..enjoy the ride courtesy of Trumps wise decisions to deregulate,and reform
 
show your proof that your tax cuts will do what you claim.


it never happens

yet you always claim it as if it has


are you really that stupid or just a lying fuck
 
anatta said:
The U.S. economy’s growth rate last quarter was revised upward to the fastest in three years on stronger investment from businesses and government agencies than previously estimated, Commerce Department data showed Wednesday.
Highlights of Third-Quarter GDP (Second Estimate)

Gross domestic product grew at a 3.3% annualized rate (est. 3.2%), revised from 3%; fastest since 3Q 2014
Consumer spending, biggest part of the economy, grew 2.3% (est. 2.5%); revised from 2.4%; down from 3.3% in 2Q
Business-equipment spending rose at a 10.4% pace, a three-year high, revised from 8.6%; reflects transportation gear
Corporate pretax earnings rose 5.4% y/y, following a 6.3% y/y advance

Key Takeaways

The latest results for GDP, the value of all goods and services produced, show the economy withstood major hurricanes to reach a more solid footing as it entered the final stretch of the year, thanks to stronger business spending that’s helping cushion a softer pace of consumption.

Federal Reserve Chair Janet Yellen said Wednesday, just before the GDP report, that the expansion is “increasingly broad based across sectors as well as across much of the global economy.”

While the revised growth rate is in line with President Donald Trump’s goal, economists generally see such a pace as unsustainable and expect growth to slow sometime in 2018. Trump and congressional Republicans are pushing a tax-cut plan with the aim of lifting GDP gains to 3 percent annually.

Consumer spending, which accounts for about 70 percent of the economy, continues to be the main driver of growth, though revisions showed it was slightly weaker than previously estimated on purchases of both durable and nondurable goods.

The biggest improvement came in business investment, which made a 1.2 percentage-point contribution to growth, up from 0.98 point in the initial estimate a month ago. In addition to greater spending on transportation equipment, the data also reflected more software spending. Nonresidential structures were revised to a bigger decline.

While the first look at third-quarter gross domestic income showed a pickup, the prior quarter was revised downward by 0.6 percentage point, reflecting a smaller gain in wages and salaries. The average of GDP and GDI was a 2.9 percent gain. Corporate profits grew, albeit at a slower year-over-year pace than in the prior period.

Price data in the GDP report showed inflation remains behind the Fed’s 2 percent goal. Excluding food and energy, the central bank’s preferred price index tied to personal spending rose at a 1.4 percent annualized rate last quarter, revised from 1.3 percent and following a second-quarter gain of 0.9 percent.
Other Details

Net exports added 0.43 percentage point to growth, revised up from 0.41 point; inventories added 0.8 point, revised up from 0.73 point
Gross domestic income, adjusted for inflation, rose 2.5 percent after a downwardly revised 2.3 percent gain in the prior three months; second-quarter wages and salaries were revised downward by $26.5 billion
Nonresidential fixed investment -- which includes spending on equipment, structures and intellectual property -- increased 4.7 percent, revised from 3.9 percent
Residential investment fell at a 5.1 percent rate, smaller than previous estimate of 6 percent drop
Stripping out trade and inventories -- the two most volatile components of the GDP calculation -- final sales to domestic purchasers climbed 2 percent, revised from 1.8 percent
Government spending increased at a 0.4 percent rate, revised from 0.1 percent decline; the figures reflected an upward revision to state and local construction spending
After-tax incomes adjusted for inflation increased at a 0.6 percent annual pace, revised from 0.5 percent; saving rate revised to 3.3 percent from 3.4 percent
GDP report is the second of three estimates for the quarter; the third is due in December as more data become available
https://www.bloomberg.com/news/arti...rter-growth-revised-up-to-3-3-three-year-high
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U.S. Third-Quarter Growth Revised to Three-Year High of 3.3%



were you praising Obama three years ago asshole?



well?
 
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sear said:
There's an unsubstantiated notion that the U.S. can reasonably expect a certain GDP. Some that assume that, criticized Obama's recovery from the Bush recession, because they said our recovery GDP wasn't high enough.
This GDP expectation has developed over centuries of history.

My question:

That expectation developed under conditions which due to globalization and other factors no longer exist.

Are those in pursuit of this historic standard of GDP actually seeking a will-o’-the-wisp, and not aware of it?

Has a subtle paradigm shift placed this historic standard out of realistic reach, for the foreseeable future?
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you are so used to the Obama economy, where 1-3% looks good. It's not.
4% or more gets you into very high growth rates for the US ( China is like 6-8%)..

Ican't see any long term reason why 3% or so isn't normalized
 
anatta said:
jeese. what are you Debbie Downer?
I realize you hate Trump, but you know de-regulation coupled with tax reform is driving this?

We've had a bubble since quantitative easing..the best way to get around it is real growth
Click to expand...

It is? Prove it..
 
evince said:
were you praising Obama three years ago asshole?
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While he wasn't "praising" Obama, I'll give anatta some credit that he recognized the positive Obama did for the economy (as opposed to most of the other connies, who made it sound like Obama made things worse after inheriting a disaster).
 
anatta said:
i can't believe that.
While stock valuations are probably higher on speculation ( predicated on corporate tax reform)
then fully real -everything shows business is now going to increase production, and consumer/industrial/commercial spending will follow
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Link up
 
anatta said:
look at the markets,look at the GDP...
the proof is in the pudding..I think we got a good chance to hit 3% for Q4 too - that's historic.
we haven't had 3 quarters of 3% GDP growth in many a year
Click to expand...

Prove that deregulation coupled with tax reform is the driver...that was your claim, prove your claim.
 
Thing1 said:
While he wasn't "praising" Obama, I'll give anatta some credit that he recognized the positive Obama did for the economy (as opposed to most of the other connies, who made it sound like Obama made things worse after inheriting a disaster).
Click to expand...
nice of you to recognize that thing..I much appreciate it..I do not see why we can't look at Obama's role to bring us out of the recession and Trumps to get us growth as a continuum of apropos policies for the times
 
anatta said:
most of those Executive Orders were done in the first month.
They were repeals of Obama's over-regulation

You can 't look at the economic in a vacuum of course -they all work together.

Tax reform is driving the markets for sure - it's "baked in" -but there is also a healthy business climate..

The YUGE mistake now would be NOT TO PASS tax reform -that would snuff out all inertia
Click to expand...
Prove the bolded
 
countryboy said:
Another liberal myth. Do you think the rich keep their money in mattresses? Money is never completely "sitting on the sidelines".

Where's that example of a federal tax cut that added to the debt? I'm still waiting.
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That would be any and all tax cuts by Dubya, as well as those by Reagan, you fucking illiterate moron.
 
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