Is the economy booming?

[Mac1958]

I keep hearing trumpers claim the economy is booming. When challenged they disappear. So lets look at it.

First quarter growth was only 2.2%. I don't call that booming.
U.S. First-Quarter Growth Revised Down to 2.2% on Inventories

Unemployment is really low which is good. 3.8%

But Obama had a really good unemployment rate, but repubs then claimed it was about the labor force participation rate. So how is that doing? 62.7%. What was it in Dec 2016? 62.7%. So still really low. According to Trump that makes the real unemployment rate over 20%.

Bureau of Labor Statistics Data

How are wages doing? Still really slow.
All the signs are there for higher pay, but the 'mystery of missing wage growth' continues

Stock market? Having an awful year. Did great when we were riding the Obama economy, but has been erratic and dropping as we get more trump policies.
Trade war fears spread to tech and Dow sheds 328 points

With all this tariff talk and more sales tax on internet sales coming I don't see a boom coming.

Economy is still good,but not booming. If you think the economy is booming please share which economic indicators you are using.

The GOP is screaming that the economy is booming, but the numbers are not there, yet.

The good news (at least those of us who are actually hoping for good news) is that business capital spending is up an incredible 39% after the tax cuts - precisely what was hoped for and predicted - and unemployment is so low that wages almost necessarily have to increase. Right now they're increasing at 2.8% and that's not enough. We need them at a sustained level of at least 3.5% to 4.0% or more for a "boom".

The trade situation, cause for much drama, has to stabilize, and that may happen. This current situation can only continue for so long. If we see some capitulation from foreign countries on this, soon, you'll see a significantly positive change. Markets are watching, and the clock is ticking. My guess is that if we don't see better economic numbers and trade stabilization by late fall, markets may dump out. We're in an old bull market, and it won't take many excuses for institutions to pull their chips, and that would scare off needed continued business spending.

And then there is the exploding deficit, and that's another thing that's being ignored in this badly premature "boom" talk.

There's some straightforward, non-political, non-ideological analysis from the industry for you.
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Thanks for bringing up spending. I hadn't yet looked at that. If this source is correct, it has jumped, but to a level seen in 2014. Not a time most call a boom. Most tax savings seem to be going for stock buybacks which don't fuel economic growth.

Businesses hiked spending after the tax bill, but the U.S. economy still awaits that promised big boost

Correct, not in the short term. I supported the business tax cuts (although I would have added a METR, Minimum Effective Tax Rate, my term, of 5.0% or 7.5%). But I would have added four new, higher individual tax rates up to 59.9%. These cuts made our businesses far more competitive and (more importantly) aggressive, but the individual rate reductions were a bad idea.
..

Up to a 59.9% individual tax rate?

You are sick fuck.

You betcha!
.

 

[Harpy Eagle]

I keep hearing trumpers claim the economy is booming. When challenged they disappear. So lets look at it.

First quarter growth was only 2.2%. I don't call that booming.
U.S. First-Quarter Growth Revised Down to 2.2% on Inventories

Unemployment is really low which is good. 3.8%

But Obama had a really good unemployment rate, but repubs then claimed it was about the labor force participation rate. So how is that doing? 62.7%. What was it in Dec 2016? 62.7%. So still really low. According to Trump that makes the real unemployment rate over 20%.

Bureau of Labor Statistics Data

How are wages doing? Still really slow.
All the signs are there for higher pay, but the 'mystery of missing wage growth' continues

Stock market? Having an awful year. Did great when we were riding the Obama economy, but has been erratic and dropping as we get more trump policies.
Trade war fears spread to tech and Dow sheds 328 points

With all this tariff talk and more sales tax on internet sales coming I don't see a boom coming.

Economy is still good,but not booming. If you think the economy is booming please share which economic indicators you are using.

Nah, its doing better than it has for a long time but I wouldn't call it booming.

Will have to wait and see later.

In what way is it better than the previous 4 years?

What economic metric has changed direction for the better?


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Well if you can't see improvement in the economy then I doubt anyone will be wasting their pointing it out.

This is the problem in a nutshell, people base their views on what they can “see”, which is inherently limited by the small scope of whatever circle they are a part of. In the process they ignore facts and data and just go with their “feelings”.

We have a number of economic indicators that are used to measure how the economy is doing, they are there for this very reason, so that we are not making decisions based upon our limited range of vision.

What is see when I look at those is a continuation of what has been in progress for the previous 5 years before this one. Those are the cold hard facts that nobody can deny so they ignore them...because as they say “ignorance is bliss”


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[Brain357]

I keep hearing trumpers claim the economy is booming. When challenged they disappear. So lets look at it.

First quarter growth was only 2.2%. I don't call that booming.
U.S. First-Quarter Growth Revised Down to 2.2% on Inventories

Unemployment is really low which is good. 3.8%

But Obama had a really good unemployment rate, but repubs then claimed it was about the labor force participation rate. So how is that doing? 62.7%. What was it in Dec 2016? 62.7%. So still really low. According to Trump that makes the real unemployment rate over 20%.

Bureau of Labor Statistics Data

How are wages doing? Still really slow.
All the signs are there for higher pay, but the 'mystery of missing wage growth' continues

Stock market? Having an awful year. Did great when we were riding the Obama economy, but has been erratic and dropping as we get more trump policies.
Trade war fears spread to tech and Dow sheds 328 points

With all this tariff talk and more sales tax on internet sales coming I don't see a boom coming.

Economy is still good,but not booming. If you think the economy is booming please share which economic indicators you are using.

The stock market is up 2% this year and 35% since Election Day.

But I wouldn’t necessarily use that as a barometer of the economy since markets tend to overshoot.

You must be using old number? The DOW is down this year. The market did great till trump policies really kicked in. This year is down.

 

[Marion Morrison]

The economy is gearing up to boom. Buckle up, everybody, it's going to be a bumpy ride.

While some doors may close, more will open than close. Most likely, the price of produce will rise, and I predict meat prices will fall, thereby counteracting it, but people will have more money in general. I feel we're on the right track.

 

[Brain357]

The economy is gearing up to boom. Buckle up, everybody, it's going to be a bumpy ride.

While some doors may close, more will open than close. Most likely, the produce will rise, but people will have more money in general. I feel we're on the right track.

What economic indicators lead you to those beliefs?

 

[Harpy Eagle]

I keep hearing trumpers claim the economy is booming. When challenged they disappear. So lets look at it.

First quarter growth was only 2.2%. I don't call that booming.
U.S. First-Quarter Growth Revised Down to 2.2% on Inventories

Unemployment is really low which is good. 3.8%

But Obama had a really good unemployment rate, but repubs then claimed it was about the labor force participation rate. So how is that doing? 62.7%. What was it in Dec 2016? 62.7%. So still really low. According to Trump that makes the real unemployment rate over 20%.

Bureau of Labor Statistics Data

How are wages doing? Still really slow.
All the signs are there for higher pay, but the 'mystery of missing wage growth' continues

Stock market? Having an awful year. Did great when we were riding the Obama economy, but has been erratic and dropping as we get more trump policies.
Trade war fears spread to tech and Dow sheds 328 points

With all this tariff talk and more sales tax on internet sales coming I don't see a boom coming.

Economy is still good,but not booming. If you think the economy is booming please share which economic indicators you are using.

The stock market is up 2% this year and 35% since Election Day.

But I wouldn’t necessarily use that as a barometer of the economy since markets tend to overshoot.

Bullshit.

DJI on 1 Jan was 24,824. Today it opened at 24,281. 6 months of stagnation.




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[Marion Morrison]

The economy is gearing up to boom. Buckle up, everybody, it's going to be a bumpy ride.

While some doors may close, more will open than close. Most likely, the produce will rise, but people will have more money in general. I feel we're on the right track.

What economic indicators lead you to those beliefs?

Reading real news articles around the internet. Ag reports, business news, etc.

 

[Harpy Eagle]

The economy is gearing up to boom. Buckle up, everybody, it's going to be a bumpy ride.

While some doors may close, more will open than close. Most likely, the produce will rise, but people will have more money in general. I feel we're on the right track.

What economic indicators lead you to those beliefs?

Reading real news articles around the internet. Ag reports, business news, etc.

Clearly you have not been reading too many Ag reports lately. There is not much optimism in any of them.


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[Marion Morrison]

The economy is gearing up to boom. Buckle up, everybody, it's going to be a bumpy ride.

While some doors may close, more will open than close. Most likely, the produce will rise, but people will have more money in general. I feel we're on the right track.

What economic indicators lead you to those beliefs?

Reading real news articles around the internet. Ag reports, business news, etc.

Clearly you have not been reading too many Ag reports lately. There is not much optimism in any of them.


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Some will suffer, and others will thrive. All in all things will be better for everyone across the board. In America, that is. Canada and Mexico, maybe not, but we've been getting bad deals from them for years.

 

[Brain357]

The economy is gearing up to boom. Buckle up, everybody, it's going to be a bumpy ride.

While some doors may close, more will open than close. Most likely, the produce will rise, but people will have more money in general. I feel we're on the right track.

What economic indicators lead you to those beliefs?

Reading real news articles around the internet. Ag reports, business news, etc.

Then you must have real economic indicators to share.

 

[Marion Morrison]

The economy is gearing up to boom. Buckle up, everybody, it's going to be a bumpy ride.

While some doors may close, more will open than close. Most likely, the produce will rise, but people will have more money in general. I feel we're on the right track.

What economic indicators lead you to those beliefs?

Reading real news articles around the internet. Ag reports, business news, etc.

Then you must have real economic indicators to share.

Here's one thing, domestic steel production:

 

[Harpy Eagle]

The economy is gearing up to boom. Buckle up, everybody, it's going to be a bumpy ride.

While some doors may close, more will open than close. Most likely, the produce will rise, but people will have more money in general. I feel we're on the right track.

What economic indicators lead you to those beliefs?

Reading real news articles around the internet. Ag reports, business news, etc.

Clearly you have not been reading too many Ag reports lately. There is not much optimism in any of them.


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Some will suffer, and others will thrive. All in all things will be better for everyone across the board. In America, that is. Canada and Mexico, maybe not, but we've been getting bad deals from them for years.

Can you explain how 3.8% unemployment and 107 months of economic expansion is a “bad deal”??


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[Marion Morrison]

The economy is gearing up to boom. Buckle up, everybody, it's going to be a bumpy ride.

While some doors may close, more will open than close. Most likely, the produce will rise, but people will have more money in general. I feel we're on the right track.

What economic indicators lead you to those beliefs?

Reading real news articles around the internet. Ag reports, business news, etc.

Clearly you have not been reading too many Ag reports lately. There is not much optimism in any of them.


Sent from my iPhone using USMessageBoard.com

Some will suffer, and others will thrive. All in all things will be better for everyone across the board. In America, that is. Canada and Mexico, maybe not, but we've been getting bad deals from them for years.

Can you explain how 3.8% unemployment and 107 months of economic expansion is a “bad deal”??


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And that has exactly what to do with Canada and Mexico fucking US for years via NAFTA, huh?

 

[Brain357]

The economy is gearing up to boom. Buckle up, everybody, it's going to be a bumpy ride.

While some doors may close, more will open than close. Most likely, the produce will rise, but people will have more money in general. I feel we're on the right track.

What economic indicators lead you to those beliefs?

Reading real news articles around the internet. Ag reports, business news, etc.

Then you must have real economic indicators to share.

Here's one thing, domestic steel production:

Has it been invested yet? How many jobs created? There is also lots of negative news like Harley. Do you have real economic indicators or no?

 

[Harpy Eagle]

What economic indicators lead you to those beliefs?

Reading real news articles around the internet. Ag reports, business news, etc.

Clearly you have not been reading too many Ag reports lately. There is not much optimism in any of them.


Sent from my iPhone using USMessageBoard.com

Some will suffer, and others will thrive. All in all things will be better for everyone across the board. In America, that is. Canada and Mexico, maybe not, but we've been getting bad deals from them for years.

Can you explain how 3.8% unemployment and 107 months of economic expansion is a “bad deal”??


Sent from my iPhone using USMessageBoard.com

And that has exactly what to do with Canada and Mexico fucking US for years via NAFTA, huh?

If they have been fucking us so badly as you and Trump claim, why is the economy so good?

Does 3.8% unemployment seem like getting fucked?

Does the 2nd longest period of economic expansion in our history feel like getting fucked?




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[iamwhatiseem]

I keep hearing trumpers claim the economy is booming. When challenged they disappear. So lets look at it.

First quarter growth was only 2.2%. I don't call that booming.
U.S. First-Quarter Growth Revised Down to 2.2% on Inventories

Unemployment is really low which is good. 3.8%

But Obama had a really good unemployment rate, but repubs then claimed it was about the labor force participation rate. So how is that doing? 62.7%. What was it in Dec 2016? 62.7%. So still really low. According to Trump that makes the real unemployment rate over 20%.

Bureau of Labor Statistics Data

How are wages doing? Still really slow.
All the signs are there for higher pay, but the 'mystery of missing wage growth' continues

Stock market? Having an awful year. Did great when we were riding the Obama economy, but has been erratic and dropping as we get more trump policies.
Trade war fears spread to tech and Dow sheds 328 points

With all this tariff talk and more sales tax on internet sales coming I don't see a boom coming.

Economy is still good,but not booming. If you think the economy is booming please share which economic indicators you are using.

No argument from me.
The economy is fantastic, in fact extraordinary.... if you are among the investor class.
Everyone else.... better....but still pretty bland.

 

[Marion Morrison]

I keep hearing trumpers claim the economy is booming. When challenged they disappear. So lets look at it.

First quarter growth was only 2.2%. I don't call that booming.
U.S. First-Quarter Growth Revised Down to 2.2% on Inventories

Unemployment is really low which is good. 3.8%

But Obama had a really good unemployment rate, but repubs then claimed it was about the labor force participation rate. So how is that doing? 62.7%. What was it in Dec 2016? 62.7%. So still really low. According to Trump that makes the real unemployment rate over 20%.

Bureau of Labor Statistics Data

How are wages doing? Still really slow.
All the signs are there for higher pay, but the 'mystery of missing wage growth' continues

Stock market? Having an awful year. Did great when we were riding the Obama economy, but has been erratic and dropping as we get more trump policies.
Trade war fears spread to tech and Dow sheds 328 points

With all this tariff talk and more sales tax on internet sales coming I don't see a boom coming.

Economy is still good,but not booming. If you think the economy is booming please share which economic indicators you are using.

No argument from me.
The economy is fantastic, in fact extraordinary.... if you are among the investor class.
Everyone else.... better....but still pretty bland.

For now..

 

[Marion Morrison]

The economy is gearing up to boom. Buckle up, everybody, it's going to be a bumpy ride.

While some doors may close, more will open than close. Most likely, the produce will rise, but people will have more money in general. I feel we're on the right track.

What economic indicators lead you to those beliefs?

Reading real news articles around the internet. Ag reports, business news, etc.

Then you must have real economic indicators to share.

Here's one thing, domestic steel production:

Has it been invested yet? How many jobs created? There is also lots of negative news like Harley. Do you have real economic indicators or no?

Don't know, but I will watch it. 1500+ jobs created.

 

[Brain357]

What economic indicators lead you to those beliefs?

Reading real news articles around the internet. Ag reports, business news, etc.

Then you must have real economic indicators to share.

Here's one thing, domestic steel production:

Has it been invested yet? How many jobs created? There is also lots of negative news like Harley. Do you have real economic indicators or no?

Don't know, but I will watch it. 1500+ jobs created.

Assuming it will work like the last steel tariffs we will lose way more jobs than gain. It puts
manufacturing at a huge disadvantage.

 

[Sahba]

Today’s economy is good! Almost as good as it was in 2014

O... don't ya know, Bush is responsible for any success that there might have been in 2014...! lol, I mean that's how y'all seem to compute failures of Dem Presidents... somehow the successes of Dem presidents escapes this attributional logic though... Wait for it... ... Why yes, of course Trump's successes are all because of Obumer... took the words right off the tip of y'alls tongues... lol (NOT)!