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BOOM!!!!! Second-quarter GDP jumps 4.1% for best pace in nearly four years


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2018 Jul 27, 6:52am   4,596 views  32 comments

by MrMagic   ➕follow (2)   💰tip   ignore  

That's the fastest rate of the growth since the 4.9 percent in the third quarter of 2014 and the third-best growth rate since the Great Recession. In addition to the strong second quarter, the Commerce Department revised its first-quarter reading up from 2 percent to 2.2 percent.




In addition to the rise in consumer and business spending, increases in exports and government spending also helped. Personal consumption expenditures rose 4 percent while business investment grew 7.3 percent while federal government outlays increased by 3.5 percent.

The tariffs as well as last year's massive tax cut both were key factors in the growth.

Consumer spending accelerated to a 4% annual pace of growth after a sharp pullback in the first quarter.

The trade gap narrowed, boosting GDP.

Big picture: Activity boomed in the second quarter and the growth does not seem to be due to one-off factors, as some economists had feared.

Over the past year, the economy has expanded at a 2.8% annual pace, up from a 2.6% annual rate in the first quarter. Economists say this is strong enough to keep putting downward pressure on the unemployment rate.

https://www.marketwatch.com/story/us-economy-accelerates-to-41-rate-in-second-quarter-fastest-in-almost-4-years-2018-07-27

Comments 1 - 32 of 32        Search these comments

1   MrMagic   2018 Jul 27, 6:53am  

Thanks Obama!!!

Oh, wait......

2   Strategist   2018 Jul 27, 7:20am  

MrMagic says
That's the fastest rate of the growth since the 4.9 percent in the third quarter of 2014 and the third-best growth rate since the Great Recession. In addition to the strong second quarter, the Commerce Department revised its first-quarter reading up from 2 percent to 2.2 percent.


They said it couldn't happen. How is this possible?
3   Strategist   2018 Jul 27, 7:25am  

HEYYOU says

It's easy for President Traitor to take a victory lap when he hasn't done the math.
Everyone make your comments about how MAGA this is so I can blow you out of the water.


Life sucks, doesn't it?
4   anonymous   2018 Jul 27, 8:57am  

But but but the audio tape. Cohen. Russia collusion...aaaaahhhhhhh
5   MrMagic   2018 Jul 27, 8:57am  

Strategist says
HEYYOU says

It's easy for President Traitor to take a victory lap when he hasn't done the math.
Everyone make your comments about how MAGA this is so I can blow you out of the water.


Life sucks, doesn't it?


It must really suck for him and be so miserable every day.

Strategist says
They said it couldn't happen. How is this possible?


Maybe "they" have been wrong for the last two years?
6   MrMagic   2018 Jul 27, 8:58am  

PrivilegedtobeWhite says
But but but the audio tape. Cohen. Russia collusion...aaaaahhhhhhh


You forgot porn star payoffs too....
7   Goran_K   2018 Jul 27, 8:58am  

But Stormy Daniels, uh uh uh, illegal aliens at the border, and uh uh uh, Putin!
8   RWSGFY   2018 Jul 27, 8:59am  

Strategist says
They said it couldn't happen. How is this possible?


New spin on NPR this morning: "yes, it happened, but it's not sustainable".
9   Shaman   2018 Jul 27, 9:02am  

Didn’t Obama build that?
LOL
10   Shaman   2018 Jul 27, 9:04am  

Where’s that economic crash everyone seems to be predicting? Seems like we are going the opposite direction.
Just as I predicted.
11   Tenpoundbass   2018 Jul 27, 9:06am  

Should have heard NPR on the Roundup this morning. Prefacing how it's good news for Trump, Trump as president should be happy.
BUT!!!
Then they rip into the Liberal planned psyopps trying to talk shit about what his base is going to want him to focus on, that being helping the immigrants, easing the tariffs, and building the economy talking less about tariffs and building a wall. That's what his base really wants. LOL I just laughed realizing I'm the only Trump supporter that listens to NPR because I like glib comedy sometimes.
12   Strategist   2018 Jul 27, 10:07am  

HEYYOU says
Strategist says
They said it couldn't happen. How is this possible?


Shortly I'll post why it could happen.Hint: Can I borrow a dollar?
Come on with the comments.


You mean by borrowing? I leant Obama $trillions, and he still couldn't make it happen. You know why? When you borrow money just to give it away, nothing good happens. It goes down the drain.When you borrow money to give an incentive to businesses, good things happen. Jobs get created, we become wealthier, the pie gets bigger, and everyone is better off.
13   MisdemeanorRebel   2018 Jul 27, 12:00pm  

ISIS Defeated
NK voluntarily abandons Nuclear Bomb and Ballistic Missile programs
Ongoing DPRK-ROK Peace Talks at a pace and goodwill hitherto unseen
Unemployment at multi-decade lows
4.1% GDP Growth
Russians read riot act in Syria and Ukraine
NATO humiliated into paying the minimum amount.
Euros abandon tariffs, promise to buy more Soybeans and LNG.
Ridiculous Iran Deal suspended.
Two pro-#2A Supremes
#MeToo Rebounding on Media Shills
African American Males leaving the Dems in droves.
Ban on Civil War Infested Nationals Migrating (whom are mostly military age males)
Saudis liberalizing at a rapid pace
JEWrusalem recognized as capital of Israel
Top Oil Producer

#Winning
14   RecentCost   2018 Jul 27, 12:22pm  

HEYYOU says
It's easy for President Traitor to take a victory lap when he hasn't done the math.
Everyone make your comments about how MAGA this is so I can blow you out of the water.
Bring your MAGA hats & rythmatic ignorance.
Hope you wash your foot before you place it in your mouth.


Take a deep breath. Only 6.5 years left of the Trump presidency.
15   Strategist   2018 Jul 27, 12:57pm  

TwoScoopsOfWompWomp says
ISIS Defeated
NK voluntarily abandons Nuclear Bomb and Ballistic Missile programs
Ongoing DPRK-ROK Peace Talks at a pace and goodwill hitherto unseen
Unemployment at multi-decade lows
4.1% GDP Growth
Russians read riot act in Syria and Ukraine
NATO humiliated into paying the minimum amount.
Euros abandon tariffs, promise to buy more Soybeans and LNG.
Ridiculous Iran Deal suspended.
Two pro-#2A Supremes
#MeToo Rebounding on Media Shills
African American Males leaving the Dems in droves.
Ban on Civil War Infested Nationals Migrating (whom are mostly military age males)
Saudis liberalizing at a rapid pace
JEWrusalem recognized as capital of Israel
Top Oil Producer

#Winning


You just ruined the Trump haters weekend. Lets not mention the rest of the list like.....Putting China in it's place, and tax cuts for everyone. We don't want them shooting themselves.
16   marcus   2018 Jul 27, 2:27pm  

The question is, is this worth the massive deficits we're running right now ?

Paying for economic growth with massive deficit spending is nothing new.

https://www.nytimes.com/2018/07/25/business/trump-corporate-tax-cut-deficit.html

The deficit this year wil be in the 800 billion to one trillion dollar range. I know that my mentioning that will make you guys change the subject to bring up Obama deficits, that occurred with the worst recession since the depression, and when we were paying for Medicare part D and Iraq war spending that had been put on the credit card by Bush.

That's all irrelevant. IF these are boom times, then it should be one time when deficits are low, or where we even run surpluses as we did toward the end of the Clinton years.


Right wingers: "Yeah, b-b-b-but,.........."
17   Shaman   2018 Jul 27, 3:06pm  

Trump said no more big pig budgets like the last one. He signed it, but said no more. We need to give him MAGA congressmen to get the right budgets done next time.
18   Strategist   2018 Jul 27, 3:12pm  

marcus says
The question is, is this worth the massive deficits we're running right now ?


You seemed to think it was worth it when Obama was still getting the credit. My my my. How quickly things change.
19   MrMagic   2018 Jul 27, 3:20pm  

marcus says
Paying for economic growth with massive deficit spending is nothing new.


That's true, Obama was a master at it.

Even with an injection of $4 TRILLION of QE, ZIRP, a $787 BILLION stimulus package and adding $10 TRILLION of new debt, Obama couldn't get the economy above 3% growth. But hey, we have $20 Trillion of debt to show for it.

Winning!
21   MrMagic   2018 Jul 27, 7:05pm  

Holy Crap!!!! Hell just froze over!! CNN actually gave Trump credit for something!!! STOP the Presses!!!

Trump's right: The economy is doing well and he deserves some credit

Washington (CNN) - President Donald Trump thinks he's overdue some credit for steering the strongest economy on the planet -- and he's probably right.

Often, the President's hyperbolic assessment of his own performance is at odds with the facts. But Friday's announcement that the economy grew at a 4.1% pace in the second quarter, the best showing since 2014, is genuine cause for celebration.

...but then, the article went down the drain from there in typical CNN fashion....

https://www.cnn.com/2018/07/27/politics/donald-trump-economy-trade-gdp-growth-credit/index.html
22   Strategist   2018 Jul 27, 7:23pm  

MrMagic says
Often, the President's hyperbolic assessment of his own performance is at odds with the facts. But Friday's announcement that the economy grew at a 4.1% pace in the second quarter, the best showing since 2014, is genuine cause for celebration.


Let me help the screwed up liberals. Yup. Trump deserves credit for not eliminating all of Obamas policies, which is the only reason we are doing so well. Just imagine how much our economy wold have grown, if a socialist like Bernie Sanders would have been President:
10% growth every year.
Zero unemployment.
High paying jobs for everyone....$100K minimum.
Maxi Pads would be Vice President.
And that Black gal would not have to worry about her mortgage or car payments.
24   Strategist   2018 Jul 27, 7:28pm  

HEYYOU says
Now it's time.

"Oh Look! More Horsecrap (GDP)"
"The current annual run-rate of the economy is $20.402 trillion. In 2008, Quarter 2, it was $14.805 trillion, or an actual increase of $5.60 trillion per year from then to today -- in nominal, that is, "dollar-denominated" terms."

"Federal government debt added alone was more than double the net increase in nominal GDP over that same period."

"In other words the facts are that the economy has actually contracted, not expanded. That's why the common American is finding food more expensive, fuel more expensive, health care and housing more expensive, cars are more expensive etc etc etc when one looks at the number of hours of effort required to pay for each of such things, that is, in an actual "SI" (or invariant) unit."


He he he. Weird logic, but I agree. Damn Obama. Screwed us up bigly.
25   Strategist   2018 Jul 27, 7:34pm  

HEYYOU says
The GDP is funded by debt.
You think debt doesn't matter,then don't pay your bills.


I agree with that too. Just borrow $200K, and then file BK at a $1K cost. Do it every few years, and us peasants can have all the cake we can eat.
Hey You, lets start a business advising peasants on how to get rich.
26   MrMagic   2018 Jul 27, 7:35pm  

Eric Trump
‏Verified account @EricTrump

Remember these quotes from 2016?? #Winning #AmericaIsBack

28   Strategist   2018 Jul 27, 7:44pm  

HEYYOU says
Strategist says
Hey You, lets start a business advising peasants on how to get rich.


The path to riches is drugs!
I drugs my ass out of bed & worked for myself.


No drugs. I want the future generations to support us, not the other way around. Lets do something good for our future generations.
29   Onvacation   2018 Jul 27, 8:17pm  

Quigley says
Where’s that economic crash everyone seems to be predicting?


There is no way the current system can last more than a couple more centuries.
30   mell   2018 Jul 28, 8:07am  

MAGA!

#winning
31   MrMagic   2018 Jul 29, 8:10pm  

Lets recap the week.....

TRUMP-

- Strikes deal with EU

- Calls out Twitter for shadow banning

- Brought soldiers remains back from North Korea

- Historic GDP 4.1%

DEMOCRATS-

- Banned Straws....
32   MisdemeanorRebel   2018 Jul 30, 1:18am  

California:

Where you can knowingly give somebody AIDS and avoid a felony....
But can't have a plastic straw.

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