After rosy report, Dotard says economy going to go 'higher'

[yallerdawg]

Source: CNBC, by Tucker Higgins

The president also championed the GOP tax overhaul passed late last year, saying that "as a result, more than 6 million Americans are enjoying new bonuses, better jobs, and far better paychecks." The president said that Democrats' efforts to turn back the tax cuts would be a "disaster for our economy."

It's not clear that the Republican tax plan has resulted in increased wages. The Bureau of Economic Analysis noted Friday that personal income growth, in the form of wages and salaries, decelerated in the second quarter despite the GDP increase. Real wages have remained stagnant over the past year, according to government data.

Meanwhile, corporations have boosted their stock buybacks and cash distributions to shareholders, which have accelerated at a record pace. Bloomberg reported in May that 2018 was on track to be the first year in which shareholders saw a $1 trillion windfall from stock buybacks.

By pumping up expectations for U.S. economic growth for the remainder of the year, Trump raised the political risks for Republicans in November's midterm elections and for himself for a 2020 re-election bid.

Read it all at: https://www.cnbc.com/2018/07/27/trump-were-going-to-go-a-lot-higher-than-4point1percent-gdp-number.html


While the 'genius' was rambling on, reading his prepared speech, this began - and ended the day:

[AZ8theist]

1. These fuckers will never learn

After EVERY Repuke tax cut for the 0.01%, the economy tanks. EVERY TIME.
Coolidge in 1926:

In 1926, Calvin Coolidge’s treasury secretary, Andrew Mellon, one of the world’s richest men, pushed through a massive tax cut that would substantially contribute to the causes of the Great Depression. Republican Sen. George Norris of Nebraska said that Mellon himself would reap from the tax bill “a larger personal reduction [in taxes] than the aggregate of practically all the taxpayers in the state of Nebraska.” The same is true now of Donald Trump, the Koch Brothers, Sheldon Adelson and other fabulously rich people.

https://www.washingtonpost.com/news/posteverything/wp/2017/11/30/im-a-depression-historian-the-gop-tax-bill-is-straight-out-of-1929/?utm_term=.f4f1c0b79e1a

Again with Reagan, again with Bush II, and now Dotard.

A depression is coming and the rubes don't even know it yet.....

[Turbineguy]

2. The Markets aren't buying his bullshit.

And it got worse after Kudlow spoke glowingly about "business investment is booming!".