Atlanta Fed's closely watched GDP tracker shows next to no growth for first quarter

Discussion in 'Current Events' started by Giftedone, Mar 9, 2019.

  1. Giftedone

    Giftedone Well-Known Member Past Donor

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    Atlanta Fed's closely watched GDP tracker shows next to no growth for first quarter
    A year ago when Trump was cutting taxes while injecting a huge amount of extra credit card spending into the economy I said that this was like putting Nitro into an engine. Short term gain for long term pain.

    The Trump Administration has presided over a massive deficit increase - at a time when Red controlled both houses of congress - and the economy was doing well. This is the pinnacle of fiscal irresponsibility.
     
  2. Smartmouthwoman

    Smartmouthwoman Bless your heart Past Donor

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    Easy... it went to the people.

    FB_IMG_1536765323249.jpg
     
  3. AZ.

    AZ. Banned

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    Its the same thing we got from Reagan, and Bush......The 1% wins again, and half the country still votes against anything that can help them!.....Woho, corporate welfare alive and well!
     
  4. FlamingLib

    FlamingLib Well-Known Member

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    It appeared that there had even been demonstrations to thank Big Brother for raising the chocolate ration to twenty grammes a week. And only yesterday, he reflected, it had been announced that the ration was to be REDUCED to twenty grammes a week. Was it possible that they could swallow that, after only twenty-four hours? Yes, they swallowed it.
     
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  5. Distraff

    Distraff Well-Known Member

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  6. Paul7

    Paul7 Well-Known Member

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    The tax cut saved me about $20K.
     
  7. FlamingLib

    FlamingLib Well-Known Member

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    The tax cut cost me $20k.
     
  8. Bluesguy

    Bluesguy Well-Known Member Donor

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    So what should be done to keep the Q to Q 3.1% we just had going? What's the alternate plan?
     
  9. BestViewedWithCable

    BestViewedWithCable Well-Known Member

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    Finish the trade negotiations with China, and we'll be off and running again.
     
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  10. 557

    557 Well-Known Member

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    Take it up with your state. I’m guessing you don’t live in Wyoming. :)
     
  11. Cubed

    Cubed Well-Known Member Past Donor

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    Actually this is it. Trump likely would have had over 3% last year if not for the Tariff war.

    I don’t necessarily disagree with the notion of fighting back against China, but that was not the avenue to go about it.

    That said, if your hell bent on keeping the tax cuts, you’ll need spending decreases because your deficit is not going down anytime soon. Same with the debt.
     
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  12. Bluesguy

    Bluesguy Well-Known Member Donor

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    How?
     
  13. Bluesguy

    Bluesguy Well-Known Member Donor

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    We are also being drug down by the downturn in Europe and the very strong dollar.
     
  14. APACHERAT

    APACHERAT Well-Known Member Past Donor

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    With record low unemployment, large numbers in the workforce today, anyone who wants a job has a job...not much more room for growth is expected.
     
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  15. BestViewedWithCable

    BestViewedWithCable Well-Known Member

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    Trump wants fair free trade back and forth, and China doesnt wanna compete with American products. The tech theft is another thing China doesnt wanna give up on....

    China really has no choice, except open warfare, and that will definitely destroy what economy they have left.
     
  16. Paul7

    Paul7 Well-Known Member

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    If you're in a high tax state the 10% State and Local Tax limitation could have done that. Why should the rest of the US subsidize a handful of big spending states, and don't liberals want to raise taxes on the wealthy? Two-thirds of the tax increase due to the SALT limitation went to the top 1%.
     
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  17. Paul7

    Paul7 Well-Known Member

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    Exactly, once an agreement is reached the economy and stock market will resume their upward trends. Nobody but Trump could have gotten China to this point.
     
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  18. Texas Republican

    Texas Republican Well-Known Member Past Donor

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    I'm a lot better off than I was under Obama.
     
  19. BaghdadBob

    BaghdadBob Well-Known Member

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    Reposted from elsewhere ...

    What is slowing the economy is the over tightening by the Fed. When PRESIDENT TRUMP took office Fed Funds were at .65%. They've been increased to 2.4%. That's an increase of nearly 400% without any sign of inflation on the horizon. And, in that sense, the increases are uncalled for.

    Let's compare to get a sense of what an unjust drag the Fed has been on the economy the past 2 years by looking at the 10 year chart. It shows barry had an essentially 0% bank borrowing rate (free $) for nearly his entire regime. When the Fed started to increase the targeted rate with not even a rate doubling, barry's failed policies caused the GDP YoY growth rate to slow to 1.9% in 2016 from 2.9% in 2015. We were headed for a double dip recession. IF the Fed had frozen the rates at that point, or simply responded to real inflation instead of "perceived" inflation, the economy would likely be growing at well over 4%, and it's not out of the realm to believe that 5%+ quarterly growth is intermittently possible.

    Any slowdown lies squarely on the shoulders of the Fed. Have no doubt about it.

    https://fred.stlouisfed.org/series/FEDFUNDS
     
  20. Paul7

    Paul7 Well-Known Member

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    And don't forget Obama was the beneficiary of 0% interest rates.
     
  21. AKS

    AKS Well-Known Member

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    Stop talking out of your a**. Trump doesn't seem to know what trump wants so I KNOW that you don't know what trump wants. Anyway you slice it, the tariffs were a stupid idea. And almost everyone knew that.
     
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  22. AKS

    AKS Well-Known Member

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    Sure you are. Confirmation bias is insidious isn't it?
     
  23. FlamingLib

    FlamingLib Well-Known Member

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    It didn't cost me $20k. I was making a point that anyone here could say anything. There's no way to verify.

    Oddly enough, I did my taxes this morning. I live in California, make $90k, and my return was about $500 less than last year's. But my withholdings also changed, so the tax cut's affect on me seems about nil.
     
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  24. BestViewedWithCable

    BestViewedWithCable Well-Known Member

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    You cant believe everything you hear on cnn or msnbc.
     
  25. Paul7

    Paul7 Well-Known Member

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    OK, I'll elaborate, the 20% income deduction for S corps. saved me $20K.
     

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