GDP report shows booming 4.1 percent growth, as Trump touts 'amazing' numbers

[jg121783 3,915]

5 minutes ago, Chris Duffy said:

I can attest to the economy being very robust.

I am a business owner and we are having an great year and it seems as if each month is better than the last. It  truly amazing how strong the economy is.

 

I suffered thru the 2009 to 2012 downturn and actually lived on credit cards back in that time period to survive.

I have been working for my employer for almost 10 years and in the last year or so business has accelerated at a rate I haven't seen in the almost 10 years I have been working for them. Every month orders are increasing and the company is scrambling to hire people and buy new machinery. My 401k and employee stock are doing great. America is becoming great again.

[OriZ 3,157]

[Dashinka 24,497]

17 hours ago, Steeleballz said:

 

  Someone here likes to post that the GDP growth every quarter under Trump has been higher than any quarter under Obama during the entire 8 years. Best to compare annual growth to annual, or quarterly to quarterly.

 

  If that's even important I guess. I've said this before, but I do give credit to Trump for having a positive effect on consumer confidence. My wife and I take advantage of this ourselves to pick up extra shifts and hopefully finish paying off her new car ASAP. My own sense of consumer confidence tells me this economy won't last forever, regardless of who is president, and it also tells me the next downturn will probably be worse than the last one. Now is a good time to prepare for that.

 

  

Economies are cyclical so giving any credit to any president is really just superfluous.  Sure, they may have impact relative to the general feeling of the country, and of course they along with the Congress can pass bills that may have material impact, but overall, they are just like us, on the sidelines watching. 

[Neonred 3,562]

51 minutes ago, Bill & Katya said:

Economies are cyclical so giving any credit to any president is really just superfluous.  Sure, they may have impact relative to the general feeling of the country, and of course they along with the Congress can pass bills that may have material impact, but overall, they are just like us, on the sidelines watching. 

So you are saying that even if Hillary had been elected we would still be seeing 4% GDP?

[Keith & Arileidi 437]

1 hour ago, Neonred said:

So you are saying that even if Hillary had been elected we would still be seeing 4% GDP?

I would say yes. 

Considering that Obama's highest quarter was 5ish percent. 

[Keith & Arileidi 437]

3 hours ago, jg121783 said:

I have been working for my employer for almost 10 years and in the last year or so business has accelerated at a rate I haven't seen in the almost 10 years I have been working for them. Every month orders are increasing and the company is scrambling to hire people and buy new machinery. My 401k and employee stock are doing great. America is becoming great again.

What industry are you in? 

[jg121783 3,915]

34 minutes ago, Keith & Arileidi said:

What industry are you in? 

I'm a machinist. I work for a metal fabrication shop.

[Keith & Arileidi 437]

5 minutes ago, jg121783 said:

I'm a machinist. I work for a metal fabrication shop.

I work in the automotive industry.

We've been going strong ever since the bailout. 

 

We've just recently started to slow down, and our profits are taking a hit from the tarrifs. 

[The Nature Boy 7,659]

48 minutes ago, Keith & Arileidi said:

I work in the automotive industry.

We've been going strong ever since the bailout. 

 

We've just recently started to slow down, and our profits are taking a hit from the tarrifs. 

already taking a hit from Tarrifs. That's funny 

[Keith & Arileidi 437]

1 hour ago, Nature Boy Flair said:

already taking a hit from Tarrifs. That's funny 

The truth hurts..

 

https://www.caranddriver.com/news/trump-tariffs-dim-gms-outlook-for-the-year

https://www.freep.com/story/money/2018/07/25/ford-earnings-profit/836343002/

Edited July 28, 2018 by Keith & Arileidi

[Dashinka 24,497]

4 hours ago, Neonred said:

So you are saying that even if Hillary had been elected we would still be seeing 4% GDP?

Probably not as I doubt the corporate tax cut bill would have been done if Hillary had been elected.  Like I said, there are things that can be attributed to the president and Congress, but they are just small players unless they institute things like socialism.

[jg121783 3,915]

3 hours ago, Keith & Arileidi said:

I work in the automotive industry.

We've been going strong ever since the bailout. 

 

We've just recently started to slow down, and our profits are taking a hit from the tarrifs. 

What do you do in the automotive industry? We make parts for the automotive industry, farming and construction equiptment. Throughout most of the Obama years our customers were experiencing a downturn and as a result there were a lot of layoffs. I nearly lost my job and was laid off for 6 months at one point. The company couldn't afford to pay bonuses either. A few months after Trump got in there was a dramatic upturn in business that has only been going up since. Bonuses are back, I'm making more money than I ever have and the company is so desperate for employees they are paying us $2000 bonuses for everyone we refer as an employee.

[Keith & Arileidi 437]

3 hours ago, jg121783 said:

What do you do in the automotive industry? We make parts for the automotive industry, farming and construction equiptment. Throughout most of the Obama years our customers were experiencing a downturn and as a result there were a lot of layoffs. I nearly lost my job and was laid off for 6 months at one point. The company couldn't afford to pay bonuses either. A few months after Trump got in there was a dramatic upturn in business that has only been going up since. Bonuses are back, I'm making more money than I ever have and the company is so desperate for employees they are paying us $2000 bonuses for everyone we refer as an employee.

First in foremost, I am glad your work is picking up. I hate to see hard working middle class families left out of the prosperity. 

 

 

I am in production, so a lot of my work deals with suppliers and machinists. 

During the downturn in 08, layoffs were pretty wide spread amongst southeast Michigan from the big 3 idling and/or shutting down plant shifts. 

 

The industry started to really turn around in 2013 and 2014, when the economy started to recover.  As our profits started to soar, our bonuses followed. 

 

Now, the tarrifs are threatening our overall profits. Luckily most of the trucks and bubble-cars being sold are made in the US. So the tarrifs should have minimal impact on job numbers. 

 

Edited July 28, 2018 by Keith & Arileidi