Waiter, another order of crow.........

[Revmitchell]

How many times do I have to say this? The economy under Obama was recovering from the GW Bush near-depression.

This post shows you are so biased that you are not willing to see the truth or you are completely ignorant of the recession and its causes. Republicans warned the Dems over and over again about the looming housing crisis and the problems with fanny mae. They refused to hear it and denied there was a problem. The recession was a result of the correction due to the poor housing market policies.

 

[Squire Robertsson]

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[FollowTheWay]

So Trump is responsible for foreign banks not being able to compete in the world market?

Really, is this all you got?

No. Of course not. This bank is active in the U.S. Has a branch in NYC. They are the only bank that will lend to Trump at this point so they are important.

 

[FollowTheWay]

Too late for you. Illegal immigration is destroying the middle class. You should try Switzerland or Germany. They think like you.

Switzerland is a beautiful country. Have you ever been there? I have.

 

[FollowTheWay]

Note this is more recent than your data. Conveniently, you posted after the one strong quarter.

U.S. economic growth in 2018 misses Trump's 3 percent target
U.S. economic growth in 2018 misses Trump's 3 percent target - Reuters


FEBRUARY 28, 2019
WASHINGTON (Reuters) - The U.S. economy fell short of the Trump administration’s 3 percent annual growth target in 2018 despite $1.5 trillion in tax cuts and a government spending blitz, and economists say growth will only slow from here.

“We are moving back to a sustainable growth pace that we experienced during most of the Obama years,” said Joel Naroff, chief economist at Naroff Economic Advisors in Holland, Pennsylvania. “With the tax cut impacts largely done with, it is hard to see how growth can accelerate sharply.”

The fiscal stimulus is believed to have peaked sometime in the fourth quarter. December economic data such as retail sales, exports, homebuilding and business spending on equipment weakened sharply.

In addition, most manufacturing measures softened in January and February, and motor vehicle demand has eased.

The labor market is also exhibiting signs of cooling, with a report from the Labor Department on Thursday showing the number of Americans receiving unemployment benefits rising to a 10-month high in the week ended Feb. 16.

“The first quarter won’t be this good,” said Paul Ashworth, chief economist at Capital Economics in Toronto. “As the stimulus fades and the lagged impact of past monetary tightening continues to feed through, we expect GDP growth to slow to 2.2 percent this year.”

The trade deficit widened further as a combination of the U.S.-China trade dispute, strong dollar and weakening global demand restrained export growth. The trade tensions also led businesses to hoard imports.

The trade shortfall subtracted 0.22 percentage point from fourth-quarter GDP growth after slicing off 2 percentage points in the July-September period. With consumer spending slowing, some of the imports ended up in warehouses, accelerating the pace of inventory accumulation.

Inventories increased at a $97.1 billion rate in the fourth quarter after rising at an $89.8 billion pace in the July-September quarter. Inventory investment added 0.13 percentage point to GDP growth last quarter after contributing 2.33 percentage points in the prior period.

“There was a rapid buildup of inventories in the fourth quarter, so inventories likely will be a headwind for growth in the future,” said Daniel Silver, an economist at JPMorgan in New York.

Residential construction contracted at a 3.5 percent rate, marking the fourth straight quarterly decline. Homebuilding has been weighed down by higher mortgage rates, land and labor shortages as well a tariffs on imported lumber.

Government investment increased at a 0.4 percent rate, the slowest since the third quarter of 2017. Nondefense investment contracted at a 5.6 percent rate, the biggest decline in five years, likely reflecting the effects of the five-week government shutdown.

 

[RighteousnessTemperance&]

Note this is more recent than your data. Conveniently, you posted after the one strong quarter.

U.S. economic growth in 2018 misses Trump's 3 percent target
U.S. economic growth in 2018 misses Trump's 3 percent target - Reuters


FEBRUARY 28, 2019
WASHINGTON (Reuters) - The U.S. economy fell short of the Trump administration’s 3 percent annual growth target in 2018 despite $1.5 trillion in tax cuts and a government spending blitz, and economists say growth will only slow from here.

“We are moving back to a sustainable growth pace that we experienced during most of the Obama years,” said Joel Naroff, chief economist at Naroff Economic Advisors in Holland, Pennsylvania. “With the tax cut impacts largely done with, it is hard to see how growth can accelerate sharply.”

The fiscal stimulus is believed to have peaked sometime in the fourth quarter. December economic data such as retail sales, exports, homebuilding and business spending on equipment weakened sharply.

In addition, most manufacturing measures softened in January and February, and motor vehicle demand has eased.

The labor market is also exhibiting signs of cooling, with a report from the Labor Department on Thursday showing the number of Americans receiving unemployment benefits rising to a 10-month high in the week ended Feb. 16.

“The first quarter won’t be this good,” said Paul Ashworth, chief economist at Capital Economics in Toronto. “As the stimulus fades and the lagged impact of past monetary tightening continues to feed through, we expect GDP growth to slow to 2.2 percent this year.”

The trade deficit widened further as a combination of the U.S.-China trade dispute, strong dollar and weakening global demand restrained export growth. The trade tensions also led businesses to hoard imports.

The trade shortfall subtracted 0.22 percentage point from fourth-quarter GDP growth after slicing off 2 percentage points in the July-September period. With consumer spending slowing, some of the imports ended up in warehouses, accelerating the pace of inventory accumulation.

Inventories increased at a $97.1 billion rate in the fourth quarter after rising at an $89.8 billion pace in the July-September quarter. Inventory investment added 0.13 percentage point to GDP growth last quarter after contributing 2.33 percentage points in the prior period.

“There was a rapid buildup of inventories in the fourth quarter, so inventories likely will be a headwind for growth in the future,” said Daniel Silver, an economist at JPMorgan in New York.

Residential construction contracted at a 3.5 percent rate, marking the fourth straight quarterly decline. Homebuilding has been weighed down by higher mortgage rates, land and labor shortages as well a tariffs on imported lumber.

Government investment increased at a 0.4 percent rate, the slowest since the third quarter of 2017. Nondefense investment contracted at a 5.6 percent rate, the biggest decline in five years, likely reflecting the effects of the five-week government shutdown.

And didn’t you just do the same thing you accused ITL of? Let’s take a look.

Hmmm. Somehow they just don’t seem to do all that well predicting these things. At 2.4%, the 4th was stronger than they expected (per your link). They then said the 1st won’t be as good, so 2.3% or less. But it is reported at 3.1%, which is significantly better, or extraordinarily better judging by their own words. Go figure, or go refigure. But now you can switch back to claiming Obama did it all.

https://www.bea.gov/system/files/gdp1q19_3rd.png

https://d3fy651gv2fhd3.cloudfront.n...gdp-growth@2x.png?s=gdp+cqoq&v=201906271232a1

United States GDP Growth Rate | 2019 | Data | Chart | Calendar | Forecast

 

[Squire Robertsson]

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