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The Trump Economy


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Way to go Trumpers! What idiot does it take to force Harley Davidson to move overseas?!? 

 

Harley-Davidson will move some of its production outside of the U.S. after the company was hit by tariffs from the European Union. EU tariffs on the iconic motorcycles increased to 31 percent from 6 percent as part of a package of retaliatory measures announced by the bloc after the Trump administration hiked tariffs on U.S. steel and aluminum imports. Harley said the financial effect of the EU tariffs would be as much as $100 million per year, making the Milwaukee-based manufacturer one of the first U.S. companies to reveal the impact of the trade tensions between Washington and its allies. “Harley-Davidson believes the tremendous cost increase, if passed onto its dealers and retail customers, would have an immediate and lasting detrimental impact to its business in the region, reducing customer access to Harley-Davidson products and negatively impacting the sustainability of its dealers’ businesses,” the group said in a filing Monday morning. It will now implement a plan “to shift production of motorcycles for EU destinations from the U.S. to its international facilities to avoid the tariff burden.”

 
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HMM: Not satisfied with 4% growth, Trump goes for 5%, ‘you ain’t seen nothing yet.’

 

Annual U.S. economic growth never hit 3 percent under former President Barack Obama, so when economic adviser Stephen Moore recently told President Trump that growth under the Republican could hit 4.5 percent, he expected the president to cheer.

 

“This is happening faster than we even predicted,” Moore recalled telling Trump during a short meet-and-greet at the president’s Mar-a-Lago golf resort in Florida.

But instead of breaking into a happy dance, Moore said Trump “just smiled and said, ‘You ain’t seen nothing yet.’”

 

It prompted him to recall that during the 2016 campaign, when he and Larry Kudlow, now Trump’s director of the National Economic Council, drew up a blueprint to reach 4 percent growth, the candidate reacted by saying, “I want 5 percent growth.” Times have not changed, Moore said in an interview.

 

Shadowed by other major stories and the media’s obsession with issues such as the Russia probe and Stormy Daniels, Trump has been quietly checking off campaign promises, the biggest being the 2017 tax cut, a massive reduction in regulations and energy development.

 

The result is big growth. The Atlanta Federal Reserve’s GDPNow forecast model predicted 4.8 percent growth in the second quarter, up from 2.2 percent in the first three months of the year.

 

 

 

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2 minutes ago, B-Man said:

HMM: Not satisfied with 4% growth, Trump goes for 5%, ‘you ain’t seen nothing yet.’

 

Annual U.S. economic growth never hit 3 percent under former President Barack Obama, so when economic adviser Stephen Moore recently told President Trump that growth under the Republican could hit 4.5 percent, he expected the president to cheer.

 

“This is happening faster than we even predicted,” Moore recalled telling Trump during a short meet-and-greet at the president’s Mar-a-Lago golf resort in Florida.

But instead of breaking into a happy dance, Moore said Trump “just smiled and said, ‘You ain’t seen nothing yet.’”

 

It prompted him to recall that during the 2016 campaign, when he and Larry Kudlow, now Trump’s director of the National Economic Council, drew up a blueprint to reach 4 percent growth, the candidate reacted by saying, “I want 5 percent growth.” Times have not changed, Moore said in an interview.

 

Shadowed by other major stories and the media’s obsession with issues such as the Russia probe and Stormy Daniels, Trump has been quietly checking off campaign promises, the biggest being the 2017 tax cut, a massive reduction in regulations and energy development.

 

The result is big growth. The Atlanta Federal Reserve’s GDPNow forecast model predicted 4.8 percent growth in the second quarter, up from 2.2 percent in the first three months of the year.

 

 

 

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It ain't gonna happen if his trade policy continues at this pace

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On 6/26/2018 at 12:48 PM, B-Man said:

HMM: Not satisfied with 4% growth, Trump goes for 5%, ‘you ain’t seen nothing yet.’

 

Annual U.S. economic growth never hit 3 percent under former President Barack Obama, so when economic adviser Stephen Moore recently told President Trump that growth under the Republican could hit 4.5 percent, he expected the president to cheer.

 

“This is happening faster than we even predicted,” Moore recalled telling Trump during a short meet-and-greet at the president’s Mar-a-Lago golf resort in Florida.

But instead of breaking into a happy dance, Moore said Trump “just smiled and said, ‘You ain’t seen nothing yet.’”

 

It prompted him to recall that during the 2016 campaign, when he and Larry Kudlow, now Trump’s director of the National Economic Council, drew up a blueprint to reach 4 percent growth, the candidate reacted by saying, “I want 5 percent growth.” Times have not changed, Moore said in an interview.

 

Shadowed by other major stories and the media’s obsession with issues such as the Russia probe and Stormy Daniels, Trump has been quietly checking off campaign promises, the biggest being the 2017 tax cut, a massive reduction in regulations and energy development.

 

The result is big growth. The Atlanta Federal Reserve’s GDPNow forecast model predicted 4.8 percent growth in the second quarter, up from 2.2 percent in the first three months of the year.

 

 

 

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Oh brother! You guys are more like the communists everyday. Just report fantastic claims, who will know? 5% growth?? 

 

The Wall Street Journal reports:

Economic growth was slower at the beginning of this year than the government previously reported, as consumers pulled back spending and the housing market weighed down output.

Gross domestic product, a broad measure of the goods and services produced across the U.S., expanded at a seasonally and inflation-adjusted annual rate of 2% in the first quarter, the Commerce Department reported Thursday. That was weaker than an earlier estimate of 2.2% growth.

 

But, but, the tax cuts?!??! 

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On 5/30/2018 at 4:00 PM, TPS said:

Actually, this is the money quote from the ideologue Moore:

This year's April revenue is based on the old tax rates. Then there's the leap to my favorite type of argument: growth increased based on "anticipation"...cue Carly Simon....

 

We're seeing exactly what I predicted: tax cuts and increased spending are raising economic growth. The second quarter GDP growth estimate will give us a much better idea of their impacts. 

Given the sluggish stock market since February, is it possible the tax cuts with stock buy backs only stopped a deeper slide. Did the tax cuts only stop a deeper sell off? 

 

 

Quote

 

As of Thursday, both the Dow and the S&P have been in correction territory for 98 trading days. This stands as the longest such stretch since the financial crisis in 2008, when 108 days passed before the two exited corrections.

Should the two primary market gauges stay in correction for another 11 days — through July 16, given the Fourth of July holiday next week — and exceed the length of the 2008 correction. 

 

https://www.marketwatch.com/story/the-stock-market-is-days-away-from-setting-a-bearish-record-2018-06-28

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12 minutes ago, row_33 said:

US Steel is back and expanding, keep looking for this in the drive by media

 

 

 

Another consequence of Global Warming?  :huh:

 

Is that why the media would report on it? :unsure:

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1 hour ago, row_33 said:

US Steel is back and expanding, keep looking for this in the drive by media

 

 

 

Not for long.  The rising steel prices driving industry expansion will also slow economic growth and hinder expansion.

 

The tariffs giveth, and the tariffs taketh away.

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4 hours ago, Tiberius said:

Oh brother! You guys are more like the communists everyday. Just report fantastic claims, who will know? 5% growth?? 

 

The Wall Street Journal reports:

Economic growth was slower at the beginning of this year than the government previously reported, as consumers pulled back spending and the housing market weighed down output.

Gross domestic product, a broad measure of the goods and services produced across the U.S., expanded at a seasonally and inflation-adjusted annual rate of 2% in the first quarter, the Commerce Department reported Thursday. That was weaker than an earlier estimate of 2.2% growth.

 

But, but, the tax cuts?!??! 

right and Obama's unemployment numbers were undisputable. especially if you stop counting those who have given up looking for work, right?

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57 minutes ago, DC Tom said:

 

Not for long.  The rising steel prices driving industry expansion will also slow economic growth and hinder expansion.

 

The tariffs giveth, and the tariffs taketh away.

 

Better than still paying the tariff and all the jobs go away.

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3 hours ago, Foxx said:

right and Obama's unemployment numbers were undisputable. especially if you stop counting those who have given up looking for work, right?

When? You mean the high numbers when he took over for a Bush, or the lower unemployment when he was leaving? 

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This sounds like something a literal cultist would say: 

 

 

Commerce Secretary Wilbur Ross claimed Monday morning that even a stock-market crash wouldn’t change Donald Trump’s aggressive trade policies. Ross told CNBC on Monday there’s no level of downside in the markets that would change the way Trump approaches trade. Earlier in the morning, the U.S. Chamber of Commerce attacked Trump’s tradepolicies, saying the billions of dollars of tariffs he’s slapped on international imports risked a global trade war and would make Americans poorer. “There’s no bright-line level of the stock market that’s going to change policy. The president is trying to fix long-term problems that should have been fixed a long time ago,” Ross said. The Commerce secretary added: “There is obviously going to be some pulling and tugging as we try to deal with very serious problems. There will be some hiccups long the way.”

 
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