Trump is Right to take credit for the 2nd quarter GDP growth

[about_average]

In taking credit for the 4.1% 2nd quarter GDP growth.
About 1% of the growth was due to exports and a large part of that 1% was due to surging exports to get ahead of the tariffs, particularly soybeans.

Unfortunately he was wrong about others things he said about it. Namely that it was historic and that it will continue.

 

[SpeareChucker]

Took a while for that meme to develop...



So soybeans were suddenly harvested? The fields here are still green. You would not get very good soybeans from the early harvest.

 

[about_average]

Took a while for that meme to develop...



So soybeans were suddenly harvested? The fields here are still green. You would not get very good soybeans from the early harvest.

You might want to delete your post so you don't look so ignorant.

Oops, I quoted you for posterity. Oh well...

 

[SpeareChucker]

We're talking about the tariffs which have not yet been enacted and may never be enacted, right?

 

[about_average]

We're talking about the tariffs which have not yet been enacted and may never be enacted, right?

It's quite apparent you don't know what you're talking about.
Really, you should stop and think, maybe learn about how agricultural exports work.

 

[SpeareChucker]

You should read the news more often.
Because tariffs will not go into place European orders are up for soybeans.
Not to beat the tariffs, but because in the Trump trade war, the one y'all got so worked up over, the EU is capitulating, as if no one ever saw that coming...

 

[Adre]

“But on Friday, soybean tariffs may have actually given Trump a boost. They contributed to the robust GDP growth that the president touted — “We’ve accomplished an economic turnaround of historic proportions,” he said.

The U.S. economy grew 4.1% in the second quarter, partly due to a burst in soybean and corn exports, according to economists. In May, the latest data available, soybean exports nearly doubled compared to in April. Producers were in a rush to beat tit-for-tat sanctions, soybean exports are up 26% for the year compared to 2017.”

Yahoo Finance


It’s not good to look stupid just because you so dearly want something not to be true because you’re a partisan hack.

 

[SpeareChucker]

I'm not the partisan element trying to portray a positive outcome as some sort of disaster.

Europe blinked. There will not be a trade war and now the pressure is on China to come to the negotiation table too. You guys just got used to losing and explaining how losing was winning when it came to President Obama and his non-performing economy which was always explained by than magic four-letter word: BUSH.

 

[Adre]

Took a while for that meme to develop...



So soybeans were suddenly harvested? The fields here are still green. You would not get very good soybeans from the early harvest.

You ran away from this quickly. Orders doubled in May. That has nothing to do with harvests and green fields, Mr. Farm Expert.

 

[SpeareChucker]

The story is much more complex than you are trying to make it.


https://moneymaven.io/mishtalk/econ...r-talk-of-overheating-CVCzSVPYjUWvun5dL9VIAg/

 

[SpeareChucker]

Are these magic soybeans?

 

[Adre]

Doesn’t change the fact you dismissed it as a meme, the fact that orders went way up in the Spring, and the fact that it juiced the GDP. These three facts are simple and irrefutable. I don’t care how you spin it or how much you link to.

 

[SpeareChucker]

That's all it is. It is a Democrat meme to take good news and portray it as bad news.

 

[SpeareChucker]

Now, remember, President Obama attempted to do the same thing, accelerate future sales into the present with his cash for clunkers. Because he did not properly address other economic underpinnings it failed. Now, if you want to subtract your magic soybean number, you still have a really good economic number when it comes to GDP, just look at the charts in the link I provided.

 

[IG_88]

Commodities are notoriously complicated. The wise one would withhold opinions unless truly knowledgeable.

 

[Dribble]

GDP means shit to the average worker. Has their wages increased? Are things cheaper?

 

[about_average]

The story is much more complex than you are trying to make it.


https://moneymaven.io/mishtalk/econ...r-talk-of-overheating-CVCzSVPYjUWvun5dL9VIAg/

Well, you're learning. At least now you understand that exports were 1% of the 4.1%
Keep researching and you'll get it.

Though your belief that soybean exports to the EU, 1/3 the population of China, will make up the losses to China makes me only partially optimistic you'll ever get it.

 

[Adre]

Well, you're learning. At least now you understand that exports were 1% of the 4.1%
Keep researching and you'll get it.

Though your belief that soybean exports to the EU, 1/3 the population of China, will make up the losses to China makes me only partially optimistic you'll ever get it.

One thing is certain: he will never admit he was wrong, not even a little bit.

 

[Sean]

GDP means shit to the average worker. Has their wages increased? Are things cheaper?

Wages are stagnant but inflation is on the rise. That's effectively a wage cut for Joe Public.

 

[Saint_Ann]

When did the city dwellin' American liberal start to give a fuck about farmers...oh yeah, when it serves their socio/political propagandic dialogue.

 

[Adre]

Perspective:


“Trump, who relentlessly reminds Americans how great the economy has been since he took office, has helped feed consumer confidence. But truth be told, consumers’ outlook has been improving more or less steadily since the end of the last recession.
Even the crankiest of Democrats will have to admit that 4.1% GDP growth is good news. Faster growth is a tonic for much of what ails this country — it can help reduce the budget deficit (that is, if Republicans ever stop cutting taxes), shore up Social Security and Medicare, narrow income inequality and expand opportunity. It’s all good!
But here are a few other GDP numbers worth remembering: 4.6%, 4.9% and 5.1%. Those were the growth rates notched during President Obama’s tenure (in late 2011, the third quarter of 2014 and the second quarter of 2014, respectively). And no one’s celebrating how great the economy was in the Obama years.”

LATimes

 

[FakeNews]

Obama is the first president to never achieve a year of 3% GDP growth.

 

[Adre]

Obama is the first president to never achieve a year of 3% GDP growth.

And the only one to assume office after the Great Recession of 2008.

 

[RobDownSouth]

Not Smart, NotAJ

Took a while for that meme to develop...
So soybeans were suddenly harvested? The fields here are still green. You would not get very good soybeans from the early harvest.

Do you think soybeans are harvested and then FedExed to processing plants?
*adds note that "Farming" is yet another thing that NotAJ is ignorant about

We're talking about the tariffs which have not yet been enacted and may never be enacted, right?

Right. If you understood business, you'd know that business thrives on certainty. Do I want to sell commodity X at price Y today? Or do I want to roll the dice and hold my inventory at the risk of only get 75% of price Y in three months

Economics 101, sensei.....no Basitat fulminations needed.

 

[Rightguide]

Now, remember, President Obama attempted to do the same thing, accelerate future sales into the present with his cash for clunkers. Because he did not properly address other economic underpinnings it failed. Now, if you want to subtract your magic soybean number, you still have a really good economic number when it comes to GDP, just look at the charts in the link I provided.

Obama thought he could boost GDP with moe foodstamps, his failed investments in Solar energy, electric cars, union control of GM, the economically oppressive embarrassment of Obamacare, and by doubling the national debt. In 8 years he never sw 3% GDP, He was quite the economic visionary. In 500 days Trump did what Obama couldn't do in those 8 years of grasping at straws.