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Thu Jun 14, 2018, 06:55 PM

 

Will GDP Growth reach 4%??

Surging consumer spending is driving GDP well above prior estimates, and it is now tracking near 4 percent for the second quarter.

That's almost double the pace of the first quarter.
Economists say the consumer is seeing the impact of the tax cuts and is spending, as a result of more disposable income.


Read more at CNBC...

https://tinyurl.com/yb7cc9xw

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Reply Will GDP Growth reach 4%?? (Original post)
quartz007 Jun 2018 OP
Kablooie Jun 2018 #1
quartz007 Jun 2018 #2
sandensea Jun 2018 #3
quartz007 Jun 2018 #4
sandensea Jun 2018 #5
quartz007 Jun 2018 #6
sandensea Jun 2018 #7

Response to quartz007 (Original post)

Thu Jun 14, 2018, 07:07 PM

1. How can the tax cuts affect this?

Nobody gets them until next year,

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Response to Kablooie (Reply #1)

Thu Jun 14, 2018, 07:10 PM

2. My daughter received a reduction in tax withheld in Feb

 

So tax cut must have become effective in Feb 2018.

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Response to quartz007 (Original post)

Thu Jun 14, 2018, 08:17 PM

3. Only if Cheeto cheats.

My guess is that he's already asked Sleepy Wilbur to lean on BEA staff (part of the Dept. of Commerce) to use a little creative math to make it happen.

"Fuzzy" math, as Dubya so memorably put it in 2000.

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Response to sandensea (Reply #3)

Thu Jun 14, 2018, 08:28 PM

4. Yes, just like the unemployment numbers

 

where they ignore millions who are not out looking for jobs.
Fuzzy math is government's standard operating procedure.

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Response to quartz007 (Reply #4)

Thu Jun 14, 2018, 08:38 PM

5. My favorite was Bush's consistent 3% inflation

Typically published as 3.3% (a sly nod to his Masonic brothers?).

Who can forget that second term of his: the double-digit food, rent, and health insurance hikes, plus soaring gas prices ($5 a gallon in California, during the hot summer of '08), on one hand;

and the Wall Street Journal, Investors Business Daily, and other bankster mouthpieces crowing about the "3.3%" inflation, on the other.

I'll never forget John Fund's condescendingly sniffing on some CNN show, in mid-2008, that "the economy was still growing."

"Sure!" his Democratic counterpart replied, "because the administration claims inflation is at 3.3%!"

"When we're actually in a deep recession."

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Response to sandensea (Reply #5)

Thu Jun 14, 2018, 09:13 PM

6. Of all the numbers gov't publishes, this makes me most mad..

 

and that is CPI. It is a sad cruel joke. They give us social security raises which are a cruel joke compared to our actual cost of living. I would be less angry, if they just told us that there is not enough money available for adequate raises, so this is best they can do.

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Response to quartz007 (Reply #6)

Thu Jun 14, 2018, 09:19 PM

7. And now they want to calculate COLA increases by using GDP prices

which, as you know, are even more understated than the CPI.

Since 2000, so they tell us, "implicit GDP prices" have risen by 1,9% a year on average - or 38.5% in all.

38.5%, since 2000?

Where can I find that store?! Or that city?

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