They quit teaching economics in school for a reason
U.S. economic growth in 2018 missed the Trump administration’s 3% target by any measure, which could renew criticism of the White House’s $1.5 trillion in tax cuts.
The Commerce Department said on Friday that gross domestic product increased at a 2.9% rate last year, confirming an estimate which was published in March. The department’s annual revisions to GDP data also showed the economy growing 2.5% in the 12 months through the fourth quarter of 2018, down from the previously reported 3.0%…An alternative measure of economic growth, gross domestic income (GDI), rose 2.5% in 2018. The average of GDP and GDI, also referred to as gross domestic output and considered a better measure of economic activity, increased 2.7% in 2018.
Revised down? Sure, whatever, the bureaucrats got their >3.0% growth AND managed to trot out a useless, make-believe indicator that isn’t used anywhere by any serious economist. GDI???? Really? They might as well have trotted out PPP (purchase power parity) another useless statistical, and once popular, measurement that proves that your dollar goes farther in Somalia than in Norway.
The trend over the past year is to bring out obscure indicators to prove that we are going into a recession and that
Obama’s indicators were always revised downward, every time, quietly, as if no one would notice. This revision is TOP FOLD! Blaring headlines for 0.1% drop. 0.1%??? This is embarrassing for the economic profession.
And, honestly, there hasn’t been such an exhaustive review of tortured indicators since the Voodoo priests started using chicken bones to predict the future. OMG!!! THE YIELD CURVE IS INVERTED!!!! ORANGE MAN BAD!!! DOOOOMMMMM!!!!!!
Let’s get some perspective….’The downward revisions to the three quarters largely reflected downgrades to business investment, suggesting corporations likely did not plow their tax windfall back into their businesses. Some companies like Apple used their windfall for share buybacks.’
Here is what matters:
CEO of US steelmaker Nucor: We’re ‘very pleased’ with the results of Trump’s tariffs…
U. S. Steel plans to invest more than $1 billion in the place where our reputation as a steel industry leader was forged: our Mon Valley Works…
New state-of-the-art endless casting and rolling facility at Edgar Thomson Plant; first-of-its-kind facility in the U.S….CEO of rail operator Union Pacific sees ‘plenty of opportunity for economic growth…
US factory orders for large manufactured goods surged 2% in June (driven by airplanes and car demand).
The U.S. produced, consumed and exported record amounts of energy in 2018, the Energy Information Administration reported (May 2019).
It’s simple, manufacture things and move them to market. Expect more statistical masturbation as the US moves from the fraudulent Wall Street economy back to the Traditional Main Street Economy where we make things out of raw materials.
and it is birthday season, gramma coldwarrior and i share a birth date. therefore, as is tradition, troop everyone up to gramma and papap coldwarrior’s, procure some excellent steaks from the local butcher and get some great wine (california) and other sundries and feast!
trumps econ plan is simple, america first so that joe can go to work, make things, and retire happy.
is it that hard?
https://legalinsurrection.com/2019/07/the-investigators-need-to-be-investigated/
this was an attempted coup.
get the stout hemp rope
UK leaves EU, goes into a free trade deal with the US…
oh yes.
Pelosi just said that Immigration Reform will grow the economy.
coldwarrior wrote:
I listened to Boris’ speech, most of it was good. But he buys into the climate change crap and is going to waste a lot of resources on it.
He didn’t mention the military (understandable) but they’ve got to get busy. If they don’t step up, the UK is going to end up just another US FOB.
They may have quit teaching econ in schools, but this whiz says she majored in it. For all the good it did her.
One reason why drugs are so expensive: Pharma CEO pay is often tied to their stock price.
That means Big Pharma spends more buying their own stocks than in research & dev to make prescriptions cheaper. It’s a huge Ponzi scheme.
Congress needs to end the stock buyback
I have never read anything more ignorant in my life.
https://twitter.com/AOC/status/1154794058272972801
And Happy b-day weekend CW!
coldwarrior wrote:
HAPPY B’DAY Coldw and your mom. 🙂
The coup is not over. They continue to precipitate crisis after crisis. The real news doesn’t go away. e.g. the Southern Border crisis. Completely manufactured by the globalists. The enemedia decides what is important. China’s economy continues to go downhill as their totalitarian rule heats up. The takeover plans of Hong Kong
are continuing apace. The Chinese keep buying gold as one means of trading outside the dollar system. They dump U.S. holdings to minimize the amount of dollars they keep. Countries sell them oil by converting currencies using gold as the intermediate step outside SWIFT transactions.
We are in a stealth bull market in the monetary metals. There is still no institutional money in those equities, so volume is low. I have more picks than I have money. lol
Have lots of foodie and family fun on the weekend!
41.874148,-80.133453
oh, lookee here. Omar has split from her ‘husband’
https://www.dailymail.co.uk/news/article-7287273/amp/Ilhan-Omar-SPLITS-husband-father-three-children.html?__twitter_impression=true
VVF9+G3 Edinboro, Washington Township, PA
Happy Birthday to you and yours Mr. Warrior !! Enjoy !!
@ coldwarrior:
Happy Birthday!
coldwarrior wrote:
if you say so………………
Good. Trump just told Apple to fuck off
US to Deny Tariff Relief for Apple Mac Pro Parts From China
https://www.theepochtimes.com/us-to-deny-tariff-relief-for-apple-mac-pro-parts-from-china_3018179.html
Guess who else is celebrating a b-day?
Mick Jagger.
Nope, not going there…………..
22043 US-6, Venango, PA 16440
@ eaglesoars:
Hes lucky to be alive to celebrate it.
coldwarrior wrote:
1,414 miles away from where I live.
coldwarrior wrote:
Make sure Trump’s trade men don’t fuck it up, and get trapped by their own America First rhetoric. If America is first then that presupposes that someone else is second. Who wants a trade agreement that places you at a disadvantage? Fair trade I have no problem with . Nominally Free Trade is never truly free as ‘freedom’ is always buried very deep in the subject to manipulation detail. I’d even settle for equal trade. Trading with elephants always exposes oneself to being trampled, even if accidentally. The Aussies found that out over a decade ago after they signed a slowly unfolding FTA with the US. Sometimes it was the loaded details and sometimes it was just the major trading partner admitting that he had his fingers crossed when he signed.
The Kiwis are suffering cruel for their early entry into a FTA with the Chinese who made it very clear after the first free years that it was anything but a FTA and that China would use non-trade barriers as weapons to suppress Kiwi trade initiatives. Then when the Kiwis still managed to compete with corrupt Chinese enterprises the Chinese just broke their own commercial law and when found out smiled wryly and gave themselves a slap on the wrist with a wet bus ticket whilst dragging NZ enterprises through very expensive commercial law mire.
Pigmies always get hurt when they try to play fair with elephants when it comes to trade, especially when lawmakers, depend on inefficient industries and the workers who are employed by them, to get re-elected.
SPIT
eaglesoars wrote:
Great news.
BIG data only understands hard lessons!
VERY Hard.
AS for arguing that breaking up BIG data companies would take years and therefore leave them to create havoc in the intervening years is just a crock to give BIG Data more time to enrich themselves and totally dominate data control and therefore people globally.
Many HAPPY RETURNS Cold!
🙂
Australian alleged conservative Prime Minister shown doing a Chin- luv-in with his first (covert communist) MP. Now there’s a matching pair of CCP operatives in the Australian parliament. One for Labor and the other for the Coalition government.
PM ScoMo has a lot of explaining to do!
SPIT!
Molon labe, baby
Trump Campaign Expects to Sell $500K Worth of ‘Trump Straws’ by Next Week
.
https://www.realclearpolitics.com/articles/2019/07/26/trump_campaign_expects_to_sell_500k_worth_of_trump_straws_by_next_week_140874.html
Aussie Infidel wrote:
oh hello!
Trump will NOT fuck over Boris or Nigel, he will do EVERYTHING to fuck over Germany and France. That means the UK makes out like a freaking bandit.
Boris is telling Juncker to shove the backstop AND the divorce payment and Trump is the reason he can do that
@ coldwarrior:
Happy birthday!
Boris Johnson, 2005
“Voting Tory will cause your wife to have bigger breasts and increase your chances of owning a BMW M3.”
what’s not to love?
eaglesoars wrote:
HEH!
Where do I enrolled?
🙂
eaglesoars wrote:
I just hope like hell that Boris doesn’t fuck over Nigel by refusing to sign a pre-election ‘no standing Tories in BREXIT Party seats ‘ pact, that would allow Labour to split the Conservative vote and allow Labour to slip on into power.
If the Tories and the BREXIT Parties can get their shit together they will sideline both Labour and the rump Liberals.
If not and with the various conservative parties competing for the same voters and a first past the post system, the socialists can slip in between the cracks and take the Treasury benches.
eaglesoars wrote:
I wish I could be as sure as you are.
Boris has a perchance of changing his mind with no reference to anybody in particular.
@ Aussie Infidel:
I’m not clear on what would force Boris to call a GE before the Brexit no-deal deadline, but I think he and Nigel are sane enough to join forces to preclude a split vote. The one who worries me is Gove. That man is a total snake and why Boris named him to his cabinet I’ll never understand.
I don’t know how much influence he has with Boris but Jacob Rees-Mogg seems eminently sane and a decent human being to boot. I know a lot of people think Boris is a loose cannon, I do not. I think he wants Brexit, deeply, and I think he’s a ruthless SOB when he needs to be.
Altho in his speech he seemed to credit the climate change garbage, which is a worry.
RIX wrote:
You mean the same person that said that government handouts were good for the economy and caused it to grow? That Nancy Pelosi?
/Yeah, not buying it
IAZfederalist wrote:
The very same.
President Trump winning. Build the wall says Supreme Court.
I can’t copy and paste for some computer reason. Check out Breitbart.com.
@ yenta-fada: I did. This is one of the reasons I voted for him. “This man’s a fighter. I cannot spare him.”
@ yenta-fada:
this
https://theconservativetreehouse.com/2019/07/26/big-win-supreme-court-allows-2-5-billion-transfer-of-dod-funds-to-build-border-wall/
more good news
https://theconservativetreehouse.com/2019/07/26/an-offer-they-couldnt-refuse-president-trump-announces-guatemala-asylum-deal-with-full-presser-video/
https://hotair.com/archives/ed-morrissey/2019/07/26/happened-pelosi-aoc-summit/
If Ocasio-Cortez is avoiding reporters, that’s at least a gain for Pelosi. But it certainly would have been interesting to have been a fly on the wall for that tète-a-tète. If AOC puts out a “help wanted” sign for her chief of staff position, as several in her caucus want, then perhaps this might not have been just a confab between pals.
awesome
https://www.weaselzippers.us/427249-trump-campaign-releases-video-slamming-the-squad/
rain of lead wrote:
that would be equivalent to a self-inflicted lobotomy. I suppose he could step aside and put a clone in there, tho.
https://babylonbee.com/news/mueller-reminds-nation-report-doesnt-exonerate-trump-from-assassination-of-abraham-lincoln
@ Babylon Bee
This is a bombshell!
Final numbers from the Great Cycle Challenge: $8,490,984 was raised this year.
Thanks!!
Sheesh… The good news, is that I got my mid year bonus. $1440.00 Not a great bonus, but not a terrible one either. The bad news… $588.00 taken out of it in taxes.
@ doriangrey:
And now you know what it’s like to be ‘rich’. Congrats!
@ right_wing2:
That’s really good work, especially as it’s a charity that gets almost no media attention.
Louie Gohmert has written an absolutely scathing indictment of Mueller. This definitely was an eye-opener for me, as I’d not really understood what happened to Congressman Curt Wheldon. Mueller destroyed his career when Weldon had the goods on the FBI failures vis a vis 9/11. Then there’s Ted Stevens and on and on. Bookmark this one.
https://www.hannity.com/wp-content/uploads/2018/04/Gohmert_Mueller_UNMASKED.pdf
doriangrey wrote:
Be like me. I pay nothing in taxes.
No state or federal taxes. No deductions for social security.vernment does not get one ent of my earnings!
The go
@ Possum:
and I need a new keyboard.
@ Possum:
ya know, if you work for someone else, that’s not really an option
I guess you can declare yourself exempt but you still have to pay at the end of the year
@ doriangrey:
Yeah, unfortunately bonuses are taxed at about 40%.
rain of lead wrote:
I am unemployed…
FREEDOM! No taxes, and eating 92 cent packs of hot dogs.
@ Possum:
freedom is just another word for nothing left to lose
JJ. 1960 something
Possum wrote:
Been there, done that, still trying to dig myself out of the hole it put me in.
right_wing2 wrote:
The good news is that will come out at the time you file and you “get it back”. They tax bonuses as if that is your salary rate for the year.
Thx for the good wishes yinz! We just had delmonico’s from the local butcher and some great 16 kendall Jackson.
It was a great dinner at chez gma papap coldwarrior’s
@ coldwarrior:
ABs and the Boys in a 16 all cliff hanger. Brody Retallick out with a dislocated / possible broken shoulder at the 60 minute mark. Boks came from behind with a try on full time to even things up. The ABs didn’t play well even though they were on offence most of the time.
The AB’s coaches are still experimenting with positions and who’s in and who’s out of the starting 15. …. it showed!
🙂
boys = Boks
bloody predictive snuck another one in to my prose!
Grrrr
🙂
@ coldwarrior:
Happy Belated Birthdays!!
https://thewildernessofmirrors.wordpress.com/2019/07/28/a-very-public-crucifixion/
Looks like Larkin Poe was in Scranton on Friday. Megan’s t-shirt caught my attention. Tyler Bryant is her future brother-in-law, of course.
doriangrey wrote:
Well put