MAGAnomics – U.S. GDP Growth Doubles in Second Quarter 2017….

The U.S. Gross Domestic Product (GDP) is the value of all goods and services generated within the U.S. economy over a designated period of time. In the second quarter (April, May, June) the GDP grew at a rate of 2.6%. That’s more than double the first quarters 1.2% growth rate.

President Trump set a goal of 3% GDP growth for the first year of his administration. Reaching 2.6% in the second quarter is significant progress toward the attainment of a goal all economists said was unattainable. Those same nay-sayers are also focused on wage rate growth which they claim is not moving with the economy. They are disconnected.

Again, CTH draws attention to the new modern era in economics. Most analysts and punditry have no historic reference points for a new dimension in U.S. economics; where 30 years of fiscal policy to the benefit of Wall Street has how shifted to the benefit of Main Street. We are now in the space between these two economic engines. Traditional economic review no longer applies.

The current growth in GDP is primarily driven by growth in trade. This is the big ‘jump’ between the two quarters. In addition to forcing open markets for U.S. suppliers (see China/Beef and EU/coal), the view of energy as an export commodity is specifically Trumpian MAGAnomics in size, scale and scope.

Until Trump all economic energy conversation ended at the point of “energy independence”. However, with Trumpian MAGAnomics we blow through the goalposts of ‘energy independence’ and begin looking at energy as an export/trade commodity.

Energy export is an entirely new economic sector at the levels proposed by MAGAnomics.

Internally the U.S. is in the building phase for growth in the manufacturing sector. In essence, we have to have the ability to make ‘stuff’, before we can actually make the ‘stuff’. The ‘stuff’ only adds to the GDP after it is made…. THAT’S THE MOMENT when we will see large growth in middle-class U.S. wages.

WASHINGTON (Reuters) – The U.S. economy accelerated in the second quarter as consumers ramped up spending and businesses invested more on equipment, but persistent sluggish wage gains cast a dark shadow over the growth outlook.

Gross domestic product increased at a 2.6 percent annual rate in the April-June period, which included a boost from trade, the Commerce Department said in its advance estimate on Friday. That was more than double the first quarter’s downwardly revised 1.2 percent growth pace.

Wage growth, however, decelerated despite an unemployment rate that averaged 4.4 percent in the second quarter. Inflation also retreated, appearing to weaken the case for the Federal Reserve to raise interest rates again this year.

“Although growth is solid, the lack of wage pressure buys the Fed plenty of time, and works with a very ‘gradual’ tightening cycle,” said Alan Ruskin, global head of G10 FX strategy at Deutsche Bank in New York. “There is more here for the Fed doves than the hawks.” (read more)

Remember, we are entering a budgetary and tax policy phase.  The arguments against us will center around economic growth projections and the accompanying projections in tax revenue.  The CBO will score policy, legislation and tax proposals based on GDP growth projections.

Those who want to see America fail, both Republicans and Democrats, will under-project the GDP growth possibilities in an effort to block U.S. economic policy.  Their motive is to continue support for global economic expansion at the expense of American wealth.

Multinational corporations and multinational banks will continue paying Washington DC politicians to support efforts to keep the U.S. economy down; it is in their best interests to do so.  It’s always about the money – There are trillions of dollars at stake.

 

♦The Modern Third Dimension in American Economics – HERE

♦How Multinationals have Exported U.S. Wealth – HERE

♦The “Fed” Can’t Figure out the New Economics – HERE

The FED Begins to Question the Economic Assumptions – HERE

♦Treasury Secretary Mnuchin begins creating a Parallel Banking System – HERE

♦Proof “America-First” has disconnected Main Street from Wall Street – HERE

♦How MAGAnomic Policy is interacting with Wall Street – HERE

 

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61 Responses to MAGAnomics – U.S. GDP Growth Doubles in Second Quarter 2017….

  1. Stringy theory says:

    Wow! The economy is cranking up thanks to President Trump. Love all the good economic news today.

    Liked by 4 people

    • MM says:

      and this is what the R’s and D’s are so worried about.

      Liked by 1 person

    • fleporeblog says:

      Not just cranking but truly exploding! Think about it for one minute. 2.6 percent and we haven’t renegotiated NAFTA or China yet! Once that occurs we will be humming at 3 percent even if taxes never get done! That is what is about to slap the CoC, Big Club, Uniparty, MSM, Globalist and Barry’s legacy in the face!

      Without any “major legislation” our Lion took the normal 1.8 percent GDP for the past 8 years and turned it to 3.0 GDP by deregulation, stopping TPP, bilateral trade agreements, killing the Paris Accord, finishing the Dakota pipeline, getting the keystone pipeline ready to go, wanting to create 7 additional pipelines, one of which will run through the WALL and into Mexico, allowing our land and off shore waters to be leased for fracking and allowing the USA to become energy independent and Dominant!

      The best part of everything I listed is that their is SHIT that Congress can do to stop it!

      That is winning on steroids!

      Liked by 8 people

  2. Publius2016 says:

    Take off the Obamacare shackles, Insane Corporate and Family Tax burdens and unfair trade practices and watch us soar! MAGA!

    Liked by 6 people

  3. “…the attainment of a goal all economists said was unattainable.”

    Those “economists” obviously don’t know Trump (or read here at the CTH)! 😉

    Liked by 7 people

    • Correct.

      Because those “economists” don’t understand how the economy of free market capitalism works. Models, theories, and conjured formulas don’t work.

      When D.C. economists base all their expectations and ‘forward guidance’ upon models, it just shows NONE of them have any real business experience but a nice piece of paper mounted on a wall in an elegant frame denoting they created their intellects in a bubble. What better way of avoiding responsibility than blaming everything on a model.

      Liked by 2 people

      • piper567 says:

        Sorta like Global Warming.
        Its always the same pattern, predicated on the same philosophy…always.

        Liked by 2 people

      • Exactly, very similar to meteorologists. They’re always going on and on about “the models say this” or “the models are in agreement that”… and then you get a chilly rain on that “Mostly Sunny, High 89” kinda day! 😉

        Liked by 3 people

      • G. Combs says:

        “….Because those “economists” don’t understand how the economy of free market capitalism works…..”

        That is because they are all trained in Keynesian Economics and John Maynard Keynes was not technically a Fabian, but was [a] Fabian socialist nevertheless.

        In reading that article you can see how Keynesian Economics worked to destroy the USA.

        “…1936-1950s
        In his attack upon the principle of savings* Keynes merely echoed an old revolutionary stratagem of Fabian Socialists. At the Labour Party Conference in 1923 the Fabians “rejected the concept that private savings increase community national assets.”(17) Even earlier (1916) the Fabians declared “large savings by a wealthy class have an inherent evil; they increase and perpetuate a functionless, tribute-levying class of rentiers, which is already a dangerous element in the State.”(18)

        the rise of a distinct public “sector,” and a spread of Fabian socialist ideas, paved the way for Keynes’s proposed use of government intervention as a control variable in a manner hardly available to Marx [Robert L. Heilbroner: Economics and Political Economy: Marx, Keynes, and Schumpeter, Journal of Economic Issues, Vol. 18, No. 3 (Sep., 1984)]

        t

        * By using saving to buy a car or a home or other large purchases, you remain free of Bankster Debt Slavery. You remove the Elite’s ability to take your wealth and give you nothing but wage, devaluation and inflation in return.

        Liked by 2 people

  4. Pam says:

    “Those who want to see America fail, both Republicans and Democrats, will under-project the GDP growth possibilities in an effort to block U.S. economic policy.”

    It’s just like the CBO when scoring a GOP health bill. It’s globalism at work. All of these individuals are running scared because the president has been successful. That is what they have feared the most.

    Liked by 4 people

  5. Black_Knight_Rides says:

    🙄

    Like

  6. John Doe says:

    Liked by 4 people

  7. Read the second sentence, it’s covered. Sometimes writing headlines, it helps to keep the verbiage short. JMO

    Like

  8. dayallaxeded says:

    Yeah, “double” would be 100% growth, not 2.6%. Lurvs me some SD, but reasonable accuracy, rather than hysterical hyperbole is one of the main reasons why.

    Like

  9. Black_Knight_Rides says:

    “Wage growth, however, decelerated despite an unemployment rate that averaged 4.4 percent in the second quarter.”

    Is Wage Growth calculated across the entire working-age population or only among those employed?

    The former is the useful calculation to reflect employment gains (unemployed-to-working and part-time to full-time), as well as wealth gains.

    The latter gets suppressed as unemployed surge back into the market (benefits run out or workfare kicks in), allowing employers to pay less due to temporary over-supply of workers.

    Like

  10. Running Fast says:

    My company serves US based small and medium sized businesses. Our 2nd quarter outpaced ALL of 2016! Must admit that the loss of Ocare repeal will be a drag going forward though.

    Liked by 8 people

    • ALEX says:

      Yes. Companies are shackled. Wage growth is swallowed up as is disposable income as the cost of insurance is not going down for anyone…Many folks lost their doctor and sure as heck didn’t see any $2500 dollar savings…

      Like

      • pyromancer76 says:

        How about free-market doctors, and maybe even hospitals. Can’t small businesses get together and support (moral, not financial) their workers having access to doctors who will advertise their fees and see patients for the going rate — outside of insurance exchanges. Use insurance only for high cost problems/surgeries.

        Liked by 2 people

        • G. Combs says:

          “…. Use insurance only for high cost problems/surgeries….”

          Unfortunately I think they have that covered. I do not think you are ALLOWED to see a cash only doctor if you have insurance.. I know the cash only doctors are BARRED from recommending procedures and tests and such that are paid by insurance.

          Also a cash only doctor is BARRED from taking ANY insurance too.

          Rumage, rumage… AHHhhh, found the article:
          If You Like Your Medicare, You Can Keep Your Medicare By Jane M. Orient, M.D.

          …You can drop Medicare Part B, though there is a penalty for getting back in. But to drop Medicare Part A, you have to give back all the Social Security payments you ever received, as well as forgoing future payments. [MAJOR STICK to beat you into submission.]

          Medicare rules are forcing many independent physicians to give up their practice, and either retire early or become employees. Physicians who do remain in practice may not accept Medicare patients, or limit the number they see. If you are a Medicare patient, the entire Medicare regime is in the examining room or hospital room with you, like it or not. You are not allowed to be free for a day. Neither is the doctor….

          Medicare is also making it increasingly difficult for Medicare patients to get tests, consultations, oxygen or other home-health items, or medications prescribed by a non-Medicare doctor, sometimes even if the patient is willing to pay privately.

          Why should this be?

          Keep in mind that Medicare is not yours. The money you paid in all your working life is long gone. Your benefits are coming out of the wages of people like Larry, John, and Jesus, who toil at Arnold’s gas station, and all of them are having a hard time these days. Now that payroll tax receipts are less than payouts, benefits are coming out of general tax revenues, which redeem the IOUs in the “Trust Fund.” And the ever-increasing Part B premiums pay only 25 percent of benefits. If you are on Medicare, you are a liability—to your doctor and to society.

          Medicare does offer some fine new “benefits”—such as paying for “end-of-life” counseling.

          Medicare counseling, however, is not about life insurance, wills, or funeral arrangements—or about making peace with your family or God. It’s about reducing the cost of your care. The most expedient way to do that is to use “end” as a verb.

          These days you can no longer assume that a hospital will seek to prolong your life and restore you to the health you enjoyed before you fell ill. It is much easier for the hospital if you give them permission ahead of time not to try. The purpose of the “advance directive” is to decline “life-sustaining treatments”—such as food and water.

          GEE, where have we heard ending life by removing “life-sustaining treatments”—such as food and water. Oh yah, It is called the Liverpool CARE Pathway.

          Like

          • myshariamoor says:

            Many of those so-called ‘nurses’ are DEVOUT Moslems who eagerly STOP work to conspicuously PRAY in the NHS hospital passageways 3-5x / day!
            WHITE GENOCIDE!

            Like

        • G. Combs says:

          For those not familiar with The UK Fabians Liverpool Care Pathway aka killing off the useless eaters.

          The news stories started out like this:

          Nearly 1,200 people have starved to death in NHS hospitals because ‘nurses are too busy to feed patients’
          For every patient who dies from malnutrition, four more have dehydration mentioned on their death certificate
          … (wwwDOT)dailymail.co.uk/news/article-2287332/Nearly-1-200-people-starved-death-NHS-hospitals-nurses-busy-feed-patients.html

          And this

          Four patients die thirsty or starving EVERY DAY on our hospital wards show damning new statistics
          Data shows 1,316 deaths were linked to or directly caused by dehydration and malnutrition in 2010
          Figures are far higher than in 2000, when 862 deaths were recorded
          One hospital forced to prescribe drinking water for its patients
          (wwwDOT)dailymail.co.uk/news/article-2090332/Four-patients-die-thirsty-starving-EVERY-DAY-hospital-wards-damning-new-statistics.html

          The telegraph reports:

          the NHS comes first in Europe when it comes to the percentage of hospital patients suffering malnutrition: a whopping 58%, compared to 24% in the Netherlands and just over 30% in Denmark.
          http://blogs.telegraph.co.uk/news/cristinaodone/100131793/visiting-a-patient-in-a-british-hospital-then-take-them-food-and-water-just-to-be-safe/

          The comments in the last article give life to the horrific conditions in the UK hospitals.

          Note how the nurses are blamed and doctors are “forced to prescribe drinking water” — Yeah, right.

          Then one doctor lets the cat out of the bag. The cause of death is deliberate withholding of food and water (The Liverpool Care Pathway) and not ‘neglect’ by the nurses… OOPS
          Top doctor’s chilling claim: The NHS kills off 130,000 elderly patients every year: Professor says doctors use ‘death pathway’ to euthenasia the elderly

          Around 29 per cent of patients that die in hospital are on controversial ‘care pathway’

          Then as investigative journalists dig deeper it is found that it is not the Doctors but the GOVERNMENT that is the cause of the deliberate starvation and dehydration of there citizens. NHS millions for controversial care pathway
          The majority of NHS hospitals in England are being given financial rewards for placing terminally-ill patients on a controversial “pathway” to death,

          TheGovernment PAYS hospitals to starve the patients to death. They also use the Liverpool Care Pathway on infants and children they deem ‘useless’ Doctors now have Saturday and Sunday off so if you are admitted on a weekend chances are you will be stuck on the Liverpool Care Pathway. Also the UK Govenment is suggesting they need to ‘Check-up” on older folk… so they can toss them in the hospital and starve them to death no doubt.

          Think that is bad? It gets worse.

          Now they are calling for After birth Abortions

          Ethicists call for killing of newborns to be made legal
          by Madeleine Teahan
          posted Wednesday, 29 Feb 2012
          Professors from Milan and Oxford argue that ‘foetuses and newborns do not have the same moral status as actual persons’
          A leading British medical journal has published an article calling for the introduction of infanticide for social and medical reasons.

          The article in the Journal of Medical Ethics, entitled “After-birth abortion: why should the baby live?” states in its abstract: “After-birth abortion (killing a newborn) should be permissible in all cases where abortion is, including cases where the newborn is not disabled.”
          (wwwDOT)catholicherald.co.uk/news/2012/02/29/ethicists-call-for-killing-of-newborns-to-be-made-legal/

          And the people in the USA were told this was the healthcare system that was so much better that what we had!?!?!

          WE WERE GRUBERED!

          Liked by 1 person

          • myshariamoor says:

            Wrong comment-thread…sorry.
            Many of those so-called ‘nurses’ are DEVOUT Moslems who eagerly STOP work to conspicuously PRAY in the NHS hospital passageways 3-5x / day!
            WHITE GENOCIDE!

            Like

  11. Chuck says:

    As the crowd watches all the palace intrigue, a pretty useless drama for the most part, the really good news about the US economy will be ignored.

    “It’s the economy, Stupid”

    Liked by 4 people

  12. alliwantissometruth says:

    President Trump is simply reversing the decades long usurpation of our economic engine & returning the power of economic might to Main Street / we the people

    That was America’s economic way until about the 70’s, when the encroachment of our local business power by Wall Street began & the viability of the peoples business acumen to serve the local community & it’s citizens began to crumble

    We’ve been hoodwinked for decades as the wealth created by & for us has been given to carpetbaggers who manipulate it for the benefit of the monied globalist class, who in turn plunder our sovereignty, our culture & our futures in order to realize their insane, perverted dream of total control

    What’s amazing is it can be stopped cold by returning the economic might to we the people, aka “Main Street”. A prosperous & viable way of life can once again be had for all

    The question is, are there still enough intelligent Americans left in this country to understand this & fight back with our President? This issue should be absolutely clear to everyone, but with the massive numbers of low IQ third world people here now & our own brainwashed democrat / RINO voters, can we be united enough to help Trump pull this off?

    I’ve said from the beginning, if Trump can work his magic & get this country working again & it’s citizens getting ahead, nothing can stop him. Getting his agenda through is the big fight of our lives. We’re at the crossroads now

    This country has one more chance to pick the right road

    Liked by 2 people

    • Black_Knight_Rides says:

      President Trump won voters over because he’s TRUMP, not a RINO.

      Now he’s multiplying his base at the expense of both wings of the Uniparty.

      Liked by 2 people

      • piper567 says:

        BlackKnight…that’s the ideal forecast…we need to not only add Rs, but subtract Ds
        I’m pretty encouraged by many younger folks realizing what a wasteland the Dems have become…
        as in, ashamed and embarrassed, words that reappear regularly.
        Really encouraged by so many young men who were just Horrified at the wimmin’s march, Jan 20th.

        Liked by 1 person

        • Kathy says:

          VOTER REGISTRATION STAT UPDATES
          (per @LarrySchweikart on Twitter today)
          … NH since Nov 16-Apr 17 … Rs net +7k
          … FL since Dec 16-July 17 … Rs net +49k
          … NM since Dec 16-July 17 … Rs net +10k
          THIS IS TRUMP

          Liked by 1 person

    • piper567 says:

      well, to be fair, there WERE enough people who can smell rats to elect TRUMP !
      and. w/o illegal voting, he also won the popular election.
      So, there’s that.

      Liked by 1 person

  13. sg says:

    what affect with the continuance of o’care have? the taxes, burdens etc. Also, if Dems. take over next year, maga will ovah in many respects.

    Like

  14. TPW says:

    Obama care is a huge drag on disposable income and thus the economy…….if it is possible for Trump to undo the exemptions that Congress and staff get from Ocare I hope he he will threaten than implement if no action…..let them hear it every day from their staff.

    Like

    • G. Combs says:

      As I understand it, many of the exemptions were from Obummer E.Os so can be rescinded easily by Trump starting with Congress. Talk about the BIG UGLY!!!

      For example the unions got exemptions from Obama. Exemptions to Obamcare Doled Out to President’s Supporters
      “[…]In 2011, HHS announced an end to the waiver program but that has not prevented the administration from exempting special groups from Obamacare mandates.

      In January of 2012, the Department of Health and Human Services announced that a total of 1,231 companies and labor unions were granted waivers from the Obamacare’s restrictions on annual benefit caps.

      In June, the administration ruled that native Alaskans and American Indians would be exempted from having to purchase healthcare coverage under the Affordable Care Act.[…]
      In September, the entire state of Arkansas secured a Medicaid waiver.[…]

      **************************
      (H/T to the Treepers who first posted this.)
      This is Trump’s nuclear option aka Big Ugly:

      Trump can blow Congress as a whole and any Congressman or Senator that falsely claimed “50 or fewer full-time equivalent employees.” individually out of the water. (Any bets lots of Democrats have well over 50 employees???)
      JUNE 23, 2017 Judicial Watch Asks Trump Administration to End Congressional Obamacare Exemption
      “Judicial Watch requested the Trump administration stop members of Congress and their staff from unlawfully purchasing, with taxpayer subsidies, health insurance through the District of Columbia’s small business exchange. The Judicial Watch request was made on June 14, 2017, to the Centers for Medicare Medicaid Services (CMS) as part of a process set out by the Department of Health and Human Services to reform the Patient Protection and Affordable Care Act (ACA), otherwise known as Obamacare.

      Judicial Watch wrote:

      The ACA requires states to create at least two exchanges: a small business exchange (referred to as “SHOP” in the ACA) and an individual exchange. It also requires certain members of Congress and congressional employees to purchase insurance on an exchange created either by their state of residence (or by the District, if they are a D.C. resident) or by the federal government, if their state of residence did not establish an exchange. 42 U.S.C. § 18032(d)(3)(D)(i). Because the ACA limits the purchase of insurance on a small business exchange to employees of small businesses – and Congress is not a small business – the ACA unequivocally requires that certain members of Congress and congressional employees purchase insurance on an individual exchange created either by their state of residence (or by the District, if they are a D.C. resident) or by the federal government for that state.

      Nonetheless, OPM promulgated 5 C.F.R. § 890.102(c)(9), which purportedly authorized congressional employees to purchase health insurance offered by an appropriate small business exchange, and the OPM Director subsequently issued guidance stating, “OPM has determined that the DC SHOP . . . is the appropriate SHOP from which Members of Congress and designated congressional staff will purchase health insurance in order to receive a Government contribution.” Federal Employees Health Benefits Program: Members of Congress and Congressional Staff, 78 Fed. Reg. 60653, 60654 (Oct. 2, 2013).

      Similarly, CMS issued guidance stating, “Consistent with the OPM rule, this guidance clarifies that offices of the Members of Congress are considered qualified employers eligible to offer coverage to Members and designated Congressional staff through the appropriate SHOP as determined by OPM. CMS clarifies that offices of the Members of Congress, as qualified employers, are eligible to participate in a SHOP regardless of the size and offering requirements set forth in the definition of “qualified employer” in the Exchange final rule, provided that the office offers coverage to those full-time employees who are determined by statute to purchase health insurance from an Exchange for the

      purpose of the government contribution.” CMS, Affordable Insurance Exchanges Guidance (September 30, 2013, available at [URL REMOVED]

      Because certain members of Congress and congressional employees are enrolled in a small business exchange, the government is contributing monies contrary to the ACA. If OPM’s and CMS’s regulation and guidance were revoked, the government would save monies being expended unlawfully to provide contributions to the approximately 20,000 members of Congress and congressional employees. In addition, the rule of law will be enforced.

      “Congress, through fraud, is violating Obamacare to get taxpayers to pay for its health insurance,” said Judicial Watch President Tom Fitton. “If the Trump administration required Congress to follow the law, taxpayers would be saving money, pure and simple. We hope the Trump administration will end this clear violation of law by Congress.” […]”

      …………………..

      “…a federal judge sided with the House of Representatives in a major lawsuit challenging executive branch overreach, ruling that the Obama administration has been making illegal payments to health insurance companies participating in the Affordable Care Act (ACA) exchanges. U.S. District Court Judge Rosemary Collyer found that Congress never appropriated the billions of taxpayer dollars that the administration has delivered to insurers through the ACA’s cost sharing reduction (CSR) program.”
      https://www.forbes.com/sites/theapothecary/2016/05/12/judge-rules-administration-illegally-delivering-funds-to-insurers-participating-in-obamacare/#4a5fb6f16d68

      Liked by 3 people

  15. Thank God for President Trump. MAGA!

    Liked by 1 person

  16. freewillnc says:

    Morons on CNBC state 3% is impossible……right…..

    Liked by 1 person

  17. pjb535i says:

    The Trump Train is worldwide, with the U.S. as its locomotive. Donald J. Trump is shoveling coal into that locomotive like never before . . . and we ain’t seen nothing yet.

    Choo Choo Trump Train . . . ALL ABOARD !!!

    Liked by 2 people

  18. NJF says:

    Way back to the beginning of his presidency, Steve Moore said to FBN, “pffft I see no reason why we can’t reach 5% growth.”

    Varney nearly fell off his chair, and Moore said, “yup, you can put me on record, we’re going to see at least 5% GDP growth.”

    Liked by 1 person

  19. myshariamoor says:

    The Left never COULD get their sox up.
    Good.

    Like

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