Author Topic: 4.1% GDP Growth, once deemed impossible is now here  (Read 1123 times)

Offline iam4liberty

  • Survival Demonstrator
  • *******
  • Posts: 3469
  • Karma: 271
  • New TSP Forum member
4.1% GDP Growth, once deemed impossible is now here
« on: July 27, 2018, 03:07:36 PM »
Just goes to show when it comes to economics, take everything the talking heads say with a grain of salt.  Most of these people are paid to sell you certain financial products or push an agenda.  They arent independent, objective, or knowledgeable.

Today's news: https://www.wsj.com/amp/articles/u-s-economy-grew-at-4-1-rate-in-second-quarter-1532694956

Background: https://money.cnn.com/2016/10/11/news/economy/trump-four-percent-growth-economists/index.html

Offline CharlesH

  • Survivalist Mentor
  • *****
  • Posts: 895
  • Karma: 21
  • Hope is a method...
Re: 4.1% GDP Growth, once deemed impossible is now here
« Reply #1 on: July 27, 2018, 05:17:30 PM »
I heard them saying this level of growth was supposed to be impossible, but then I also heard that this was the highest level of growth since 2014.  2014 wasn’t that long ago...  So who was thinking it was impossible??  ;D

Offline iam4liberty

  • Survival Demonstrator
  • *******
  • Posts: 3469
  • Karma: 271
  • New TSP Forum member
Re: 4.1% GDP Growth, once deemed impossible is now here
« Reply #2 on: July 27, 2018, 06:55:58 PM »
So who was thinking it was impossible??  ;D

Paul Krugman was ringleader.

Offline David in MN

  • Survival Demonstrator
  • *******
  • Posts: 2040
  • Karma: 153
Re: 4.1% GDP Growth, once deemed impossible is now here
« Reply #3 on: July 27, 2018, 07:30:12 PM »
Yeah but it will be revised down eventually. I can't get behind the WSJ paywall but this could likely be the Atlanta Fed which is legendary for overestimation. Doesn't matter; all Fed numbers are perpetually revised so as to mean nothing.

I'd like to see this but I'm skeptical.

Offline iam4liberty

  • Survival Demonstrator
  • *******
  • Posts: 3469
  • Karma: 271
  • New TSP Forum member
Re: 4.1% GDP Growth, once deemed impossible is now here
« Reply #4 on: July 27, 2018, 08:15:20 PM »
Yeah but it will be revised down eventually. I can't get behind the WSJ paywall but this could likely be the Atlanta Fed which is legendary for overestimation. Doesn't matter; all Fed numbers are perpetually revised so as to mean nothing.

I'd like to see this but I'm skeptical.

Full commerce department report.  Yes, it is systemically skewed up.  You can see more realistic estimates at www.shadowstats.com.  However, the 'impossible' talk was about this methodology.  So it is apples-to-apples.