2nd qtr GDP stronger than expected - consumers powering ahead

[RoyBacon]

Growth decelerated in the second quarter, but not by as much as Wall Street thought, as tariffs and a global slowdown weighed on the U.S. economy, the Commerce Department reported Friday.
GDP increased 2.1%, down from 3.1% from the first quarter, and the weakest increase since the first quarter of 2017 when President Donald Trump took office. Dow Jones Q2 estimates were for 2% growth.

However, the underlying numbers in the report seemed to take steam out of the recession fears that have been much of the talk among economists and policymakers at the Federal Reserve.

“The recession talk was always overstated,” said Michael Arone, chief investment strategist at State Street Global Advisors. “Those that were doing the Chicken Little, the sky is falling, we’re headed for recession talk were clearly early in that assessment. The economic data continue to suggest that the economy isn’t near recession, at least in the next year or so.”

https://www.cnbc.com/2019/07/26/us-gdp-second-quarter-2019.html

The stock market already in record territory was little changed at +50.

[ByeShea]

“The recession talk was always overstated,” said Michael Arone, chief investment strategist at State Street Global Advisors. “Those that were doing the Chicken Little, the sky is falling, we’re headed for recession talk were clearly early in that assessment. The economic data continue to suggest that the economy isn’t near recession, at least in the next year or so.”

My five year forecast calls for the continued massive drop in the price of salt, as supply will continue to outpace demand. Those sweet, delicious tears.

[RoyBacon]

My five year forecast calls for the continued massive drop in the price of salt, as supply will continue to outpace demand. Those sweet, delicious tears.

Yeaaa, there were some SBR tards that were so excited that the economy was possibly slowing. They are so broken. Hicks's propaganda guys are(were) predicting negative growth.

[L8night]

Throw another trillion onto the debt.....

[chico2663]

let me get this st8? our deficit went up to the highest in sometime screwing our kids. Tariffs will be giving another handout to the farmers because of trade war with china.We have the same style gdp that obama gave us. And you FAKE REPUBLICANS THINK THIS IS ALRIGHT! No wonder he loves you DUMB ASSES!

[chico2663]

I told you that was a sugar high giving tax breaks to rich. That we couldn't sustain it. Go back to school bacon you fukkin moron.

[RoyBacon]

let me get this st8? our deficit went up to the highest in sometime screwing our kids. Tariffs will be giving another handout to the farmers because of trade war with china.We have the same style gdp that obama gave us. And you FAKE REPUBLICANS THINK THIS IS ALRIGHT! No wonder he loves you DUMB ASSES!

Do you understand who wanted this bloated budget? Your tards.

Don't fight it amigo. Best economy in US history. Best economy on planet earth. The patriots will get the House back and cut spending.

[ByeShea]

We have the same style gdp that obama gave us.

[RoyBacon]

The House on Thursday passed a bill to raise the U.S. debt ceiling and set budget levels for two years, taking a step toward avoiding calamity that threatens to disrupt the economy.

The Democratic-held chamber approved the measure in a 284-149 vote. Democrats voted 219-16 in favor of the bill. Republicans opposed it by a 132-65 margin, even after President Donald Trump urged the House GOP to support it earlier Thursday. The one independent in the House also voted against the bill.

It sets discretionary spending at about $1.37 trillion in fiscal 2020 and slightly higher in fiscal 2021. The agreement suspends the U.S. borrowing limit for two years.

[L8night]

The House on Thursday passed a bill to raise the U.S. debt ceiling and set budget levels for two years, taking a step toward avoiding calamity that threatens to disrupt the economy.

The Democratic-held chamber approved the measure in a 284-149 vote. Democrats voted 219-16 in favor of the bill. Republicans opposed it by a 132-65 margin, even after President Donald Trump urged the House GOP to support it earlier Thursday. The one independent in the House also voted against the bill.

It sets discretionary spending at about $1.37 trillion in fiscal 2020 and slightly higher in fiscal 2021. The agreement suspends the U.S. borrowing limit for two years.

So your saying the pubes in the House are going against Donnie, that can't be good for their political future....

[slewfan]

CBS had a segment how they think the economy will tank next year. The left is scattering like a bunch of roaches when the light is turned on. Mueller is that light and the left are the roaches. Hollywood is beside's itself with tweets about Mueller's hearing. Yet, those who can think for themselves understand the hatred, bias and thoughtlessness of the left whining politicians.

Those who are and were afraid of investing in their own future through the stock market have missed a wonderful opportunity with Trump. Now they are bitter. What other reason can there be for their demise.

[chico2663]

Do you understand who wanted this bloated budget? Your tards.

Don't fight it amigo. Best economy in US history. Best economy on planet earth. The patriots will get the House back and cut spending.

2.1 best gdp ever? Dude you fell and hit your head. Are you old enough to remember the late 80's and 90's. Hell i hate clinton but with a repub congress and senate it was so much better.

[chico2663]

The House on Thursday passed a bill to raise the U.S. debt ceiling and set budget levels for two years, taking a step toward avoiding calamity that threatens to disrupt the economy.

The Democratic-held chamber approved the measure in a 284-149 vote. Democrats voted 219-16 in favor of the bill. Republicans opposed it by a 132-65 margin, even after President Donald Trump urged the House GOP to support it earlier Thursday. The one independent in the House also voted against the bill.

It sets discretionary spending at about $1.37 trillion in fiscal 2020 and slightly higher in fiscal 2021. The agreement suspends the U.S. borrowing limit for two years.

yes dumb ass. republicans are supposed to be for fiscal constraint. Dems are for spending. The reason we needed this is because the tax cut didn't work you moron.

[chico2663]

CBS had a segment how they think the economy will tank next year. The left is scattering like a bunch of roaches when the light is turned on. Mueller is that light and the left are the roaches. Hollywood is beside's itself with tweets about Mueller's hearing. Yet, those who can think for themselves understand the hatred, bias and thoughtlessness of the left whining politicians.

Those who are and were afraid of investing in their own future through the stock market have missed a wonderful opportunity with Trump. Now they are bitter. What other reason can there be for their demise.

hey buddy the repubs have had the senate for 10 yrs. The dems just got the congress. If you are blaming this on the left than you are stupider than previous thought. TRUMP IS A DEMOCRAT. THAT IS WHY WE ARE SO FUKKED.

[RoyBacon]

So your saying the pubes in the House are going against Donnie, that can't be good for their political future....

They voted 132-65 AGAINST

It's pretty funny super tard chico complains about spending when his own party passes the fuggin spending bill???

Does chico say golly the Dems are busting the budget?????? ohhhh no....It's Trumps fault!! LOL

[jt315]

let me get this st8? our deficit went up to the highest in sometime screwing our kids. Tariffs will be giving another handout to the farmers because of trade war with china.We have the same style gdp that obama gave us. And you FAKE REPUBLICANS THINK THIS IS ALRIGHT! No wonder he loves you DUMB ASSES!

[d2bets]

2.1%

What happened to the 4% promise?

[RoyBacon]

2.1%

What happened to the 4% promise?

Did you think we would go from 1.1% to 4% in 30 months?

We are at 2.7% for the 1st half of the year and Hillary said 1.5% is as good as it gets.

[keely85]

https://mobile.twitter.com/byHeatherLong/status/1154731811232202752

Ya not sure businesses are doing shit. As everyone expected from the tax cuts.

Good try though.

[RoyBacon]

https://mobile.twitter.com/byHeather...31811232202752

Ya not sure businesses are doing shit. As everyone expected from the tax cuts.

Good try though.

....tards

Highlights a -0.6% on housing. Scan over to obama in '15 and there is a -4.4% yet obama handed off a great economy!! LOL

[chico2663]

no roy the 1 million a day we are paying for the private prisons on immigration did it. Hell we could of built more detention centers and have the states run them for less. But a "fake" republican who was gifted everything wouldn't understand that. Roy if we go into depression please let us know your name so we can figure what bridge you "fell" from.

[chico2663]

....tards

Highlights a -0.6% on housing. Scan over to obama in '15 and there is a -4.4% yet obama handed off a great economy!! LOL

problem is that obama took the deficit down. Not the democrat trump.

[chico2663]

CBS had a segment how they think the economy will tank next year. The left is scattering like a bunch of roaches when the light is turned on. Mueller is that light and the left are the roaches. Hollywood is beside's itself with tweets about Mueller's hearing. Yet, those who can think for themselves understand the hatred, bias and thoughtlessness of the left whining politicians.

Those who are and were afraid of investing in their own future through the stock market have missed a wonderful opportunity with Trump. Now they are bitter. What other reason can there be for their demise.

proving you have nothing in the stock market.(empty pocket millionaire) My stocks grew more under obama than trump. Do you're parents even make you work?

[RoyBacon]

no roy the 1 million a day we are paying for the private prisons on immigration did it. Hell we could of built more detention centers and have the states run them for less. But a "fake" republican who was gifted everything wouldn't understand that. Roy if we go into depression please let us know your name so we can figure what bridge you "fell" from.

You tards passed the current immigration law. Potus is following it. Tards can change it but won't. So I have no idea what your complaining about?

[keely85]

Business aren’t spending shit lmao. How do you not get how this tax cut works and will screw us the second the markets turn?

I’m sure products like Apple doubling in price will go over just fine.

[ericc]

2.1%

What happened to the 4% promise?

It's hard to get to 4% after the incredible economic run of Obama. As an illustration 4% of 100 is 4 but 4% of 1000 is 40.

Because Obama was so successful, his hand picked successor was a sure bet, a lock, to win. Obama was so sure that the most qualified candidate in history was such a lock to win, he didn't lift a finger when Brennan and Clapper told him the Russians were fixing the election.

You know when you have a fire alarm in your house and the battery is getting low and it gives off that incessant chirp? Obama was probably so sick of the all his top advisers telling him that Russian interference was harming our democracy that he heard them as that low battery fire alarm chirp and wanted to smash it with a hammer and then wash it with bleachbit.

I can understand why he was upset. After he had that hot mic moment with Medvedev he was sure he had those pesky Russians right where he wanted them. And you would think the Russians would be more friendly after the Crimean peninsula and all.

[chico2663]

trump promised 6% not 2.1. This has nothing to do with obama. But i'm sure you blame your parents for your inadequacies in life. Just like dwightie blames his little rooster in being a man attracted to little people.

[RoyBacon]

trump promised 6% not 2.1. This has nothing to do with obama. But i'm sure you blame your parents for your inadequacies in life. Just like dwightie blames his little rooster in being a man attracted to little people.

At least you typed 40 words without mentioning little boys or pee tapes.

The US has the strongest economy among 1st world countries in the world. Wage growth is 2x higher than anytime under obama.

[ericc]

trump promised 6% not 2.1. This has nothing to do with obama. But i'm sure you blame your parents for your inadequacies in life. Just like dwightie blames his little rooster in being a man attracted to little people.

Okay, so Obama conceded the installation of defensive missiles for Poland to Russia in 2009 because Russia resisted the installation saying the defensive missiles were threatening. Europe always loves America when America shows weakness.

[d2bets]

And if it wasn't for increased government spending, the 2.1% would have been 1.5%.

[RoyBacon]

And if it wasn't for increased government spending, the 2.1% would have been 1.5%.

And if my uncle had a vagina he would be my aunt.

If Obama didn't run the national debt up more than all the potus' before him combined he wouldn't have had any growth.

[ericc]

And if it wasn't for increased government spending, the 2.1% would have been 1.5%.

Just put it on the credit card because the Democrats will fix it.

It's come down to the TAX AND SPEND verses the CUT TAXES AND SPEND, pick your poison.

[chico2663]

Once President Trump signs the budget deal that was passed by the House on Thursday and is expected to be approved by the Senate in a few days, he will have added $4.1 trillion to the national debt, according to the Committee for a Responsible Federal Budget. The total national debt surpassed $22 trillion in February.
This will mark the third time that a major piece of deficit-financed legislation will get Trump’s stamp of approval. Legislation Trump has so far signed since 2017 has added $2.4 trillion to the national debt through 2029, according to CRFB, a nonpartisan public policy group.
Many investors are worried about the ballooning national debt, with 54% naming the political environment and 47% viewing national debt as their top concerns, according to a UBS second-quarter investor sentiment survey. Tax and spending policy are the main reasons for the national debt expansion from 2017 to 2029, according to CRFB.
The biggest contributor to the $4.1 trillion that will be added to the national debt through 2029 is the Tax Cuts and Jobs Act. This signature tax cut legislation signed by Trump in 2017 single-handedly increased the debt by $1.8 trillion, according to CRFB.

[chico2663]

yup trumpie tax cut cost 1.8 trillion to the deficit.

[RoyBacon]

yup trumpie tax cut cost 1.8 trillion to the deficit.

You left off "over 10 years".

Americans are getting raises and the economy is growing so we are getting a LOT of benefits and The People get to keep more of their hard earned money. Sorry about you welfare rats but you did get a cost of living increase.