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re: Third and final number for the 3rd quarter GDP.
Posted on 12/21/17 at 8:06 am to Ace Midnight
Posted on 12/21/17 at 8:06 am to Ace Midnight
Paradoxical as it may sound, the easiest time to hit 3%+ real GDP growth would be immediately after a recession, particularly when you have a $1T stimulus bill to spend on infrastructure. It's no coincidence his mismanagement (or outright waste) of those funds contributed to the slowest economic recovery in American history and his miserable failure to squeak out 3% GDP. I'm all for rational, independent discourse, but to call Obama's economic record anything but an abysmal failure is wholly irrational.
1
Posted on 12/21/17 at 8:07 am to Jake88
quote:
Category: Things Obama couldn't achieve
Obama had a handful of quarters with GDP over 4%, bus sustained calendar year growth was a problem.
Posted on 12/21/17 at 8:08 am to BlackHelicopterPilot
I'm just pointing out economists' expectations. It's possible to have a good number that disappoints on expectations.
This post was edited on 12/21/17 at 8:12 am
Posted on 12/21/17 at 8:09 am to GumboPot
Math is racist.
Posted on 12/21/17 at 8:10 am to RedStickBR
Posted on 12/21/17 at 8:15 am to slackster
quote:
Obama had a handful of quarters with GDP over 4%,
Right.
quote:
sustained calendar year growth was a problem.
quote:
Category: Things Obama couldn't achieve
Right.
Posted on 12/21/17 at 8:17 am to GumboPot
MAGA 
Posted on 12/21/17 at 8:18 am to GumboPot
quote:
GumboPot
That’s awesome news if we can meet/exceed those projections!
Posted on 12/21/17 at 8:18 am to GumboPot
I took his reply to mean Obama couldn't get 3.1% quarterly growth, since he was replying to the OP.
Posted on 12/21/17 at 8:22 am to Robin Masters
quote:
That’s awesome news if we can meet/exceed those projections!
Yes it is.
I was a little exuberant and did my mental calculations based off of memory and made a mistake in one of my earlier post. We will need a 4.3% 4Q17 GDP to achieve 3.0% for the 2017 calendar year. I updated the OP.
Posted on 12/21/17 at 8:24 am to GumboPot
quote:
Up from 3.1%
You mean down from 3.3%. This is a downward revision.
You informed the board of the prior upgrade to 3.3% here: LINK
quote:
3rd quarter GDP second estimate bumped up from 3.0% to 3.3%
Posted by GumboPot on 11/29/17 at 8:28 am
The issue of downward revisions has been contentious for me and a few posters here, so it needed to be pointed out.
Posted on 12/21/17 at 8:26 am to slackster
It's funnier the way I posted it, if a bit inaccurate. The 3% barrier was annualized but I took a bit of liberty with it, like a late night host.
Posted on 12/21/17 at 8:26 am to GumboPot
Just wait for the media to define it for us. If it drops to 2.9% we'll be told how bad the economy is doing and how these policies aren't working.
Posted on 12/21/17 at 8:30 am to GumboPot
quote:
3.0% is an important number because Trump critics said it couldn’t be done
Couldn't be done for a single year? Who said that? The unrealistic thing about 3% real is averaging it over multiple years or a decade.
Posted on 12/21/17 at 8:34 am to 90proofprofessional
Now that’s how you move a goal post.
Posted on 12/21/17 at 8:35 am to Errerrerrwere
quote:
Now that’s how you move a goal post.
You've got to be shitting me.
Posted on 12/21/17 at 8:44 am to 90proofprofessional
quote:
The unrealistic thing about 3% real is averaging it over multiple years or a decade.
Or expecting Obama to have it for more than a handful of quarters out of 32? (Am I doing this right?)
Posted on 12/21/17 at 8:46 am to Ace Midnight
quote:
Or expecting Obama to have it for more than a handful of quarters out of 32? (Am I doing this right?)
Sure- if by "handful", you mean enough to bring the average for all quarters over 3%.
And yes you are doing it exactly right.
Posted on 12/21/17 at 8:51 am to GumboPot
quote:Not likely to get us to 4.3%, but it would be spectacular if it did happen.
Hopefully the robust Christmas season brings the 4Q17 GDP over the 4.3% finish line.
Posted on 12/21/17 at 8:56 am to RedStickBR
quote:
Paradoxical as it may sound, the easiest time to hit 3%+ real GDP growth would be immediately after a recession
That's what I was getting at, even without the stimulus, that's the time to expect 3% (and probably more).
quote:
I'm all for rational, independent discourse, but to call Obama's economic record anything but an abysmal failure is wholly irrational.
Objectively, this is true - all the left has is, "New norm" - "Managing the decline" - the reaction to this, however emotionally charged resulted in the vote, for better or worse, to "Make America Great Again" - just saying it made it Trump's election to win or lose. Hillary's people never recognized it (or recognized it way, way too late.)
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