https://www.cnbc.com/2020/01/30/us-gdp-q4-2019-first-reading.html Fourth-quarter GDP rose only 2.1% and full-year 2019 posts slowest growth in three years at 2.3% The U.S. economy grew 2.1% in the fourth quarter, matching estimates. The 2.3% growth in U.S. gross domestic product for the full year was below the 2.9% increase from 2018 and the 2.4% gain in 2017. It also was well below the White House's projections following the 2017 tax revamp. Continued gains in consumer spending helped propel the economy in the year's final three months.
In other words, the longest post WW II US economic expansion continues in spite of the trade conflicts which either have been recently resolved or are in the process getting resolved.
Doesn't matter. As long as the central banks keep interest rates low / negative and printing money, market will go higher.
He peaked in 2015 at around 2.6%. Hard to blame the man who pulled the world out of potential economic disaster. Not much you can do when so many people are still financially traumatized. Sometimes I think people just attach whatever Limbaugh (who somehow won the highest civilian honor?????????? For being a troll?????) says about Obama to him and aren't actually aware of some of his work. Since the great recession America has failed to produce higher than 3% GDP growth, averaging around 2.3-2.5%. Prior to Trump taking office Obama left with a GDP of 1.9% - the first sign we were already overextended. It's not hard to imagine that despite the fed pumping free money into the economy no one is spending money like they used to. Wages are stagnating and tax benefits are only benefiting the most rich (who, by the way, aren't the people who spend money). Companies aren't spending their free money because every VC worth their money is margin calling any unprofitable company. We are sitting at a peak and have been since Trump took office. Trump's market is built entirely on NIRP/ZIRP and MMT. He'll gladly send us into negative interest rates because his personal indicator of success is a rocketship market. He just doesn't want to be president when it runs out of fuel. He has more in common with Bernie than he cares to admit (in particular with MMT, though I don't expect him to be intelligent enough to know what MMT is).
https://www.forbes.com/sites/chuckj...slower-than-obamas-last-3-years/#472b05b44fed Summary: Obama’s last three years had better growth than Trump’s three years A better metric to use than the GDP growth rate that is reported each quarter is the change year over year ... Obama’s last three years in office had growth rates of at least 2.17% and as high as 3.06%. For Trump the high point was 2.83% in 2018 when the tax cut seems to have had the largest impact and even fell short of Obama’s 2014 and 2015 growth rates of 3.06% and 3.05%, respectively. In 2019 the adjusted growth rate was only 1.99%. This is less than Obama’s three last years in office and less than five of his last six years.
The US has the best economy in the world right now. If we are at 2.3%, we are doing fine. Other countries in the European Union, China and Latin America would trade places with the US in a heartbeat. With trade deals signed with Canada and Mexico, partial trade deals with Japan and China, the US economy will continue to boom. You foreign trolls can chew your gums because even foreigners in Europe say privately, that they wished that President Donald Trump was their President. So, keep spreading your lies and propaganda. It does not matter because it does not change the truth. You can have 1,000 lies and all it is are lies. US is fine and will do even better once, we re-elect our great President Donald Trump on November 3, 2020.
President Trump feeds on the discontent of the dissappearing middleclass in the country. ...middle class is just working class that has high disposable income or after paying rent and food have spending money. that is the reason middle class retailers are disappearing and decline in retail in the country. working poor don't buy stuff or a lot less stuff. and renting as they cannot afford or qualify for a mortgage. and renting. landless and penniless slaves for the rich. uber drivers are or gig economy is an example..some of these uber drivers make less than min. wage and their clients are rich or higher income riders like the 5% like CEO who takes a taxi to work type of people EVERYDAY. poor people take the bus okay. and rarely take the tax or use uber only emergencies or rarely.
Retail has been disappearing because of their own greed. Selling clothes and goods made in China at inflated prices. What about NIKE and other sneaker companies? They sell shoes in the $250 and up for a pair they paid some poor sap in China maybe, $3 a day? There was a documentary (don't remember the title but, probably on Netflix) I saw on China, with hidden cameras about a Chinese guy who was happy to earn $3 a day to buy food with and maybe, have an extra few cents to buy some soap? He was laid off and very sad because now, he does not even have that $3 a day he was counting on. Let us get real. Go to other countries, there are a lot of poor people because they are content to sell their abilities for a fixed number of monies in exchange. It does not matter if you are in the US, Europe, China or even Japan. If you have passive income, you were better off. Watch Robert Kiyosaki's videos and he will explain to you why most people are poor. He is 100,000% correct.
China is growing at 7% (in 2017 -- if you believe their numbers), India at 6.6% (2017). If China is really growing at 7%, then that's faster than the US in both relative and absolute terms. I like a lot of what Trump has done, but running $1T+ annual deficits during good times when he campaigned on reducing the national debt will lead to problems down the road. Obama also had the benefit of 0% interest rates and more global QE during his terms. And also, he happened to take over at just the right time in the business cycle.