Remember when critics lambasted Trump for daring to forecast 3%+ GDP growth?
Yeah, those people just got eternally beatdown.
Second quarter GDP was revised up to 3%. The only thing the left could do is peddle out Warren Buffett, a person who has never said a bad thing about the US economy ever, to say ‘it doesn’t feel like a 3% economy.’
Here’s Warren telling America that it ‘feels’ like a 2% economy. Moreover, he tries to convince people into accepting such anemic growth as not only acceptable, but exemplary. Bear in mind, 2% growth doesn’t keep up with inflation, which is now clocking in at 2.6%.
Here’s Warren Buffett talking down the 3% GDP revision, trying to convince America that 2% GDP is the best thing since sliced bread. pic.twitter.com/RTqrFNlNYO
— The_Real_Fly (@The_Real_Fly) September 1, 2017
Really?
If Warren thinks this ‘doesn’t feel’ like a 3% economy, I wonder what he’ll say when it registers in at 4%? According to today’s ISM data, that’s exactly where it might be heading.
Source: CNBC
President Donald Trump’s hopes for growth as high as 4 percent may come true, if only for one quarter.
An economic report released Friday morning, and overshadowed by the higher-profile nonfarm payrolls number, actually points to GDP gains in excess of 4 percent in the third quarter, said Andrew Hunter, U.S. economist at Capital Economics, as the firm showed in this chart:
The ISM data came in at 58.8, the highest reading since 2011. It even caught the evergreen bear, Rick Santelli, off guard this morning.
APOLOGIZE NOW pic.twitter.com/PHLuDA2wwe
— The_Real_Fly (@The_Real_Fly) September 1, 2017
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MAGA. One thought though, you are saying 2% GDP doesn’t keep up with 3% inflation. I don’t understand how those are equivalent. Couldn’t there be a 10% or even greater stock market return with a 2-3% GDP growth rate? And isn’t there a point where excessive GDP growth causes even worse inflation?
Seems to me 3-4% might be just about right for sustainable growth and keeping the ever growing government debt monster under control.
Math is not your strong suit, eh?
Are you arguing that GDP should keep pace with / exceed inflation?
Fake news
Warren Buffet is not the folksy awe shucks guy he likes to have people believe.
Didn’t the IMF revise us down too?
Long live the bull market.
FAKE NEWS
Just monkey business from republican controlled agencies to try to attain the impossible task of making Trump look good.
Last I looked, there’re no ” agencies” that have been trying to make Trump look good.
The opposite is true as a matter of fact.
Morons must be deaf and blind on purpose.
Regards
Chuck Bennett