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Fri May 24, 2019, 09:28 PM

Weak U.S. manufacturing underscores slowing economic growth

Source: Reuters

...JPMorgan on Friday cut its second-quarter growth estimate to a 1.0% rate from a 2.25% pace. Growth is mostly slowing as last year’s massive stimulus from the Trump administration’s tax cuts and spending increases fades.

The dollar slipped against a basket on currencies in thin pre-holiday trade. U.S. Treasury prices dipped, while stocks on Wall Street were trading higher. U.S. markets are closed on Monday for the Memorial Day holiday.

Economists said the raft of weak data, uncertainty over the trade war and sluggish global growth could force the Federal Reserve to cut interest rates. The U.S. central bank recently suspended its three-year interest rate hiking campaign and last month showed little desire to alter its monetary policy stance....

“That does not bode well for future production,” said Joel Naroff, chief economist at Naroff Economic Advisors in Holland, Pennsylvania. “It is becoming clear that whatever boom the tax cuts may have created, if they did much at all, is largely gone.”

Read more: https://www.reuters.com/article/us-usa-economy/weak-us-manufacturing-underscores-slowing-economic-growth-idUSKCN1SU1HB

11 replies, 2545 views

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Response to mia (Original post)

Fri May 24, 2019, 09:44 PM

1. Well no shit Joel. Hell, many of predicted that the tax cuts would a disaster in the long run as

well but the Repugnants still rammed it through.
I just hope I live long enough to see them and their entire party ground into dust.

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Response to mia (Original post)

Fri May 24, 2019, 09:47 PM

2. Once again, Trump has absolutely no experience being part of a smoothly...

running, profitable operation.

Pretty much everything he's ever touched has turned to shit, but he's managed to scoot out the back door with his own back door intact.

And this is how he thinks the world works.

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Response to mia (Original post)

Fri May 24, 2019, 09:47 PM

3. Relax, the gov't will find a new stimulus..

remember the feds have a money printing machine. Recessions are not possible in future.

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Response to mia (Original post)

Sat May 25, 2019, 02:22 AM

4. GOP economics kicking in again. Gonna make 2008 look like a church picnic.

they we will have to fix it while the GOP whines about deficits again, after they blew them up.

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Response to mia (Original post)

Sat May 25, 2019, 03:46 AM

5. Absolutely no one surprised republicans screwing the economic pooch

When you have greedhead republicans grabbing money hand over fist, and pissing on everyone and everything, FAIL is the only option.

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Response to mia (Original post)

Sat May 25, 2019, 05:06 AM

6. Inflation

 

I have noticed prices across the board have slowly increased in the last 6 months. June first more tariffs go into effect. Strap in for a wild ride.

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Response to mia (Original post)

Sat May 25, 2019, 02:57 PM

7. Trump asserts nearly every week that he has created xx% new manufacturing jobs....

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Response to mia (Original post)

Sat May 25, 2019, 04:13 PM

8. And we also

have a possible 1 trillion dollar deficit looming for the fiscal year end of 2019. Where or where are the Tea Party protests?! I guess they will only come out to protest a Democratic president.

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Response to mia (Original post)

Sat May 25, 2019, 04:50 PM

9. That just can't be!

Our grate pResident has brought so many manufacturing jobs back to the U.S. from China that we have the best economy in the history of the United States, if not the entire Universe! They'd better go over those figures again, because I'm sure they're wrong. That, and the lying media - who really are the enemy of the American people - had better watch it, because our grate pResident will have them all executed like the treasonous freedom haters they are! Arrest my case.

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Response to mia (Original post)

Sun May 26, 2019, 01:20 PM

10. An economy for the few is not a healthy economy. -nt

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Response to mia (Original post)

Sun May 26, 2019, 08:15 PM

11. Trump takes total credit when things go well, but will always blame others when it's bad.

He will blame the Fed, Obama, the Democrats, other Republicans, everyone.

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