1st quarter GDP a disaster

[VitaMan]

GDP contracted. And another down day for the markets.


What does Trump have say ? Blames it on Biden as he says he did not take office until January 20.


Is Trump capable of admitting any fault or blame ?

[Hdtown]

Diaper Don blames Biden or fake news for everything, he is a loser and it's showing more everyday and we all suffer, the 49% that didn't vote for him.

[Yssup Rider]

He most certainly did not receive 50% + 1 in that election.

Took him less than 100 to destroy the world economy, destroy the US government and piss off every friend we have.

The economic numbers just released will sparks Trump investigation, no doubt.

Yet the US economy shrank 1Q by 0.3%

Pure idiocy to call this "WINNING."

[VitaMan]

4th quarter GDP grew at a 2.4% rate. 1st quarter contracted at a 0.3% rate.


Yet Trump blames it on Biden. Unbelievable.


Getting to the point there is little to discuss about Trump until 2 years from now. Constant
replies are "fake news", "pollsters need to be investigated", blah, blah blah


Maybe tariffs will eventually have some benefits, at least that is what the MAGAs are saying, so no need
to blame Trump now. Only 1 sure thing about the future......Trump will not stop lying.

[Jacky S]

Just a reminder.
There are four quarters in the fiscal year.

[VitaMan]

That is why I mentioned there is little to discuss with the MAGAs now. But mainly due to
their replies about the current mess.

[Tiny]

Can you really blame Trump for 1Q GDP when he just took office on January 20? Well, maybe so. The talking heads say that higher imports are the culprit. Businesses stocked up on inventories, because they knew tariffs were coming. Recall that GDP = Consumption + Investment + Government Spending + (Exports - Imports). So higher imports mean lower GDP, all else being equal.

That said, the economists and statisticians are supposed to take the effect of inventory changes out of the equation. And the consensus appears to be that GDP may have actually increased. We'll have a better idea when 1Q GDP is revised sometime in the future, when we have better inventory numbers.

What's happening here is that the inventory build, in addition to being included in imports, is also a component of investment in the equation above. So to the extent the higher imports are for increases in inventory, they shouldn't affect GDP.

As Peter Navarro, one of the instigators of the Trump/Navarro/Pxmcc tariffs said today, this GDP report was "the best negative print I have ever seen in my life."

So blaming Trump is premature. However, he'll own the price increases and lower or negative GDP growth that will come, after "Liberation Day."

[pxmcc]

^^sir don't misquote me. i think Trump's tariffs are idiotic beyond belief. he thinks tariffs are going to make American manufacturing great again, which is pure lunacy.

[TechPapi]

You don't mean to say that murikans aren't going to screw iPhones together? I was really looking forward to seeing that.

[eyecu2]

Trumps economic ideas come from 1930s or 40's. They have been proven wrong as many times as Trump has been in court and found criminally guilty for economic shenanigan's. While he has a win or two on liable laws, and has used the DOJ for his own pitbull, he's going to find out that many companies will not roll over and lie down. There are some that will take on the battle as a moral imperative. The 1st quarter results are exactly from all the BULLSHIT that MAGA Moron has spouted out about since beginning in February- and the day of liberation and America's golden age is a fucking ruse at best. He has no method or plan on how any company is going to build factories here if the infrastructure or labor market won't support it. Imagine Iphones getting made in Omaha Nebraska by a bunch of midwest corn farmer folks. Just not happening. The asian markets have not only larger pools of labor doing both basic and also skilled labor- plus having hands that are naturally about 1/2 the size of the mules of american workers allows them to work on smaller items, devices, like cell phones etc. NOW if you are talking about building automated factories here- yeah that might work, but that isn't a huge human labor field, but rather robotics. Might get a change of 20% of manufacturing in automotive and MAYBE higher levels of metal work. BUt things like large scale castings and other stuff has been done in china mostly due to costs, but also less OSHA constraints. If you think that american's are gonna want to work in a dirty steel mill again and all the fun of things like coal mines etc., you've got another thing coming. Plus- Oil is like 58 dollars a barrel today- and guess who's not drilling for more cheap oil?? The economics of what DJT is proposing just don't make sense. And lastly- if CHINA or Canada or any other country really wanted to fucking prove a point, they could cripple the USA in about 6 months.

Poor farmers and soybean producers are the ones who will be fiscally dead first.

[pxmcc]

^^and small businesses selling goods imported from China and Vietnam etc.

well said, by the way..

[Salty Again]

Originally Posted by VitaMan

4th quarter GDP grew at a 2.4% rate. 1st quarter contracted at a 0.3% rate.

Yet Trump blames it on Biden. Unbelievable.

... It IS Joe Biden's fault - the country was in
such piss-poor shape...

Crikey! ... ... 4th quarter GDP actually GREW
at a 2.4% rate?? ... Because of Trump.

And NOW it has dropped to a 0.3% rate??

Where do you believe it will be when the Free Trade
tariff situation IMPROVES in a few weeks??

#### Salty

[Yssup Rider]

So this is what yer-sayin?

The economy GREW last year because of Trump. And shrunk THIS year because of Biden.

Makes perfect sense.

LOLLING!

[Salty Again]

Originally Posted by Yssup Rider

So this is what yer-sayin?

The economy GREW last year because of Trump. And shrunk THIS year because of Biden.

Makes perfect sense.

LOLLING!

... No, I'm sayin' that Trump had to begin the tariffs
in a good effort to conduct Fair Trade because Biden
hasn't done anything.

So, we understand the reason for the 1st quarter's dip.
But let's see what happens NOW - with more manufacturing
and energy growth.

#### Salty

[Tiny]

Originally Posted by pxmcc

^^sir don't misquote me. i think Trump's tariffs are idiotic beyond belief. he thinks tariffs are going to make American manufacturing great again, which is pure lunacy.

There's hope for you yet Pxmcc.

I'm proud of you! You almost sound like a classical liberal.

Originally Posted by TechPapi

You don't mean to say that murikans aren't going to screw iPhones together? I was really looking forward to seeing that.

Lutnick actually said that:

The army of millions and millions of human beings screwing in little screws to make iPhones — that kind of thing is going to come to America!

https://finance.yahoo.com/news/howar...023014445.html

I hope some of you will make this sacrifice for our country. Doctors, nurses, plumbers, electricians, lawyers, accountants, carpenters, we all need to give up our current jobs, and screw screws for Apple! Make America Great Again!

Seriously, that kind of thing's not a good recipe for GDP growth.