iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
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August ISM Data Suggests U.S. GDP Growth Might Hit 4%

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%.

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.

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10 comments

  1. moonshot

    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.

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  2. ericbakerbruce

    Fake news

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  3. J Adabese (your pen pal)
    J Adabese (your pen pal)

    Warren Buffet is not the folksy awe shucks guy he likes to have people believe.

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  4. sweetbillyv

    Didn’t the IMF revise us down too?

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  5. bushwacker2

    Long live the bull market.

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  6. airborne

    FAKE NEWS

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    • airborne

      Just monkey business from republican controlled agencies to try to attain the impossible task of making Trump look good.

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      • chuck bennett

        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

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