Democrats are in trouble.
What the heck will they even be able to run on during the upcoming midterms? Raising our taxes? Wrecking our economy with more bloated bureaucracy and regulations? Taking guns from legal gun owners?
Especially with the Q2 GDP report released today …
A few highlights from today’s Q2 GDP report:
-Consensus estimate for Q2 was 4.2% (result of 4.1% was just shy)
-Q1 GDP revised up to 2.2%
-Personal consumption came in at 4%
-Nonresidential business investment hits 7.3%More?
— Bloomberg Economics (@economics) July 27, 2018
Wow.
-Net exports contribute 1.06 percentage points (the most since 2013 & partly on a surge in soybean shipments)
-Housing remained a soft spot
-Revisions to decades of GDP data show U.S. economy hit $20 trillion in Q1Read more ➡️ https://t.co/Lx7x4FgOXp
— Bloomberg Economics (@economics) July 27, 2018
$20 trillion in Q1? Holy cow!
From Bloomberg:
The U.S. economy accelerated to a 4.1 percent pace of growth in the second quarter, the fastest since 2014;
The FASTEST in four years. But tell us more about Russia and strippers.
With the Friday data, the Commerce Department also released comprehensive GDP revisions going back decades. They showed a higher household-saving rate than previously reported, as well as faster growth in the first quarter of recent years …
Sounds like the economy is kicking ass and taking names. *shrug*
More on Q2 #GDP via @BEA_News "Disposable personal income increased $167.5 billion, or 4.5%, in the second quarter, compared with an increase of $256.7 billion, or 7.0%, in the first quarter. Real disposable personal income increased 2.6%, compared with an increase of 4.4%."
— Major Garrett (@MajorCBS) July 27, 2018
Disposable personal income means more people have more money to put back into the economy. This is a GOOD thing, Lefties, even for you guys. That being said, guess how they are reporting on it.
You’ll notice a lot of big ‘BUTS’:
Q2 GDP was 4.1%, a big jump from recent quarters.
It's a strong number, but a lot of it was driven by a surge in exports that won't last. Economy realistically growing around 3% this year, most economists say.
#economy pic.twitter.com/k62maEi3B6— Heather Long (@byHeatherLong) July 27, 2018
But.
Ha!
Q2 GDP growth will be strong, but the business cycle might be ending soon. https://t.co/JsZg2Dat8H
— UPFINA (@UPFINAcom) July 27, 2018
Talk about a big ol’ ‘but’.
The 4.1% initial estimate of Q2 #GDP growth will likely be revised below 4%. As trade was accelerated to beat tariffs, especially soybean exports, much of this quarter's growth was brought forward from Q3. As a result GDP growth next quarter will likely be below 2%.
— Ajit Pattanayak (@ajitpattanayak) July 27, 2018
HA HA HA HA HA HA.
Whatever helps this guy sleep better at night.
Check this out though …
https://twitter.com/mattyglesias/status/1022830264899260417
Even Yglesias is saying this was a strong quarter.
But Russia, eh Dems?
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