Remember when GDP was 4.2% for the second quarter. The media said it was inflated by 2% and GDP would crash in the 3rd quarter. How can these people in media be constantly wrong? They had no idea what 3rd quarter GDP would be, but they can tell you with absolute certainty what the weather will be in 50 years. https://www.washingtonpost.com/busi...-experts-say-its-blip/?utm_term=.18c00e41f0be On Friday morning at 8:30, the U.S. government will release data on how fast the economy grew from April to June. Economists and the White House are expecting a huge number, but experts caution it’s likely to be a one-time surge that is not sustainable. The GOP tax cuts are also driving some of the uptick, economists say. Consumer spending and business investment are expected to show some pickup, although debate remains over whether it will be a sizable boost. The White House predicts growth will be strong in 2018 and continue on a faster track for the next decade, but many independent forecasters, including the Federal Reserve, predict growth will stay below 3 percent this year and will fall back down to around 2 percent by 2020.
The media are not wrong, a surge before a massive decline is not a win. "experts caution it’s likely to be a one-time surge that is not sustainable." Take a viagra, you get a reaction but the economy is not your dick and neither can stay up 24/7 without a price.
The media said second quarter GDP was a blip and third quarter gdp would be 2%. They were wrong, you dope.
The media use economists and the economists are shit. Macroeconomics are like an ocean liner, they don't turn on a dime. The foundation of the Trump Bump is on stock buy backs, pre-tarrif hoarding, ignoring defecits and such. This 'blip' WILL end shortly.
Yeah, they continue to use 'economists' such as Paul Krugman as a source. When you continue to rely on a guy who is consistently wrong, you don't get to shift blame to someone else. Sooner or later these media types are going to have to own up to being the assholes they actually are.