US GDP beats forecasts with 3% growth

Welp, aside from Melania's shoes throwing the media into a childish tantrum and the thing with Texas (Harvey) the economy seems to be doing pretty good.

Faux News

Gross domestic product increased at a 3.0 percent annual rate in the April-June period, the Commerce Department said in its second estimate on Wednesday. The upward revision from the 2.6 percent pace reported last month reflected robust consumer spending as well as strong business investment.

Let me think, repealing Dodd Frank and a president creating a pro business and deregulation environment has nothing to do with it. It's Obama's uhhh, hmm... uhhhh his uhhhhh... yeah it's Obama.

Republican President Donald Trump has set an ambitious 3.0 percent growth target for 2017, to be achieved through a mix of tax cuts, deregulation and infrastructure spending.

I think a big thing is that the average American actually feels better with about spending money right now and the economy driving up investments. I think more Americans than you think enjoy watching Trump take on the media and they feel good that someone is finally standing up to it. They just happen to be less vocal about it. Unless of course you live in Commiefornia.

This is good news. Nobody needs a tax cut since we are all rolling in the money. Can pay down our debts, fund FEMA, and the insurance exchsnges.

I say we should reinstate Glass–Steagall and see what happens when some of the fraud is taken out of the equation. Dodd-Frank was more of a feel good measure with no teeth to make us think our politicians cared.

a reply to: toysforadults

Obama's policies are finally kicking in.

originally posted by: MOMof3
This is good news. Nobody needs a tax cut since we are all rolling in the money. Can pay down our debts, fund FEMA, and the insurance exchsnges.

Please, please be sarcasm.

originally posted by: ClovenSky
I say we should reinstate Glass–Steagall and see what happens when some of the fraud is taken out of the equation. Dodd-Frank was more of a feel good measure with no teeth to make us think our politicians cared.

Totally agree.

NOTHING is better for making the business leaders of a capitalist country OPTIMISTIC, than a BUSINESS LEADER in the White House.

Pass Tax-Cuts, and that 3% will be small potatoes.

CNN/MSNBC/NYT/WaPO/LATimes will start creating FAKE NEWS ON STEROIDS if it looks like Tax-Cuts for all working Americans are close to becoming a reality.

a reply to: carewemust

God forbid people are in control of their own future. God knows the world was in utter collapse and chaos until social security became a thing.

God forbid you have to actually be responsible and learn how to invest your own money.

a reply to: toysforadults


Welp, on one hand, the 4th largest ecomony in the US just got crippled, and that's bad. On the other hand, it's going to take a lot of labor and goods to clean up and rebuild. And then, people are going to need to buy new cars, TVs, appliances, furniture and whatever creature comforts they can afford to replace. That's good as long as "we" can find the cash/credit to pull it off.

a reply to: toysforadults

The GDP and how its determined is laughable. If anyone believes that 3% growth I say to you... do some research and look up shadowstats

a reply to: toysforadults

I'm not being sarcastic. The economy is moving along and we have lots of things to pay off and the biggest economic disaster probably ever and wars.

a reply to: windword

I'm sure many of them have mandated flood insurance.

originally posted by: FamCore
a reply to: toysforadults

The GDP and how its determined is laughable. If anyone believes that 3% growth I say to you... do some research and look up shadowstats

Have you stated this on ATS before 2017?

originally posted by: FamCore
a reply to: toysforadults

The GDP and how its determined is laughable. If anyone believes that 3% growth I say to you... do some research and look up shadowstats

Well, the construction market is doing better then it's done in ten years.

originally posted by: carewemust

originally posted by: FamCore
a reply to: toysforadults

The GDP and how its determined is laughable. If anyone believes that 3% growth I say to you... do some research and look up shadowstats

Have you stated this on ATS before 2017?

Haha,

a reply to: toysforadults

Do you think the majority of people in the disaster area had flood insurance? I read something about the majority of the area being outside of the 100 year flood zone so no flood insurance was required for those home loans. Isn't the government the only entity left in the US that offers flood insurance? I would almost bet that less than 10% has that type of insurance.

It will also be interesting to see what happens to all of the damaged cars that are on lease or not fully paid for yet. I bet the auto repossessions are going to go through the roof.

a reply to: ClovenSky


Yep, even the insurance companies and banks don't have pockets that deep. Tax payers and consumers are going to pick up a good portion of the Houston "bail out".

Then there is this little gem...Rothschild Just Dumped Massive Amounts of US Assets

In what is a sure signal to oligarchs across the globe, Lord Jacob Rothschild, founder and chairman of RIT Capital Partners, has substantially minimized his exposure to what he views as a risky and unstable U.S. capital market. In the half-yearly financial report for RIT Capital Partners, Rothschild explained the company’s aggressive moves to significantly reduce exposure to U.S. assets.

When that name starts moving money around best take heed.

a reply to: RainbowPhoenix

Meh

The Rothschild's aren't the real controllers IMO.

a reply to: FamCore

Beautiful sources.