White House Economic Advisor Kevin Hassett Discusses Details Within GDP Release…

The head of the White House Council of Economic Advisers, Kevin Hassett shares his perspective on the 4.1 percent GDP growth, and the ongoing MAGAnomic America-First initiatives.   Hassett rightly points out that finished good domestic inventories dropped as an outcome of consumer purchasing outpacing manufacturing.  As more manufacturing comes on-line, the production capacity expansion leads to more GDP growth.

Remember, one of the unique attributes of the U.S. economy, thanks to the foresight of industrial titans who built it, is our internal consumption.  We are not only the worlds’ largest economy, we are the biggest self-sustaining economy in the history of the world; a massively consequential strategic advantage. Our leverage comes from nations needing access to our market; the U.S. does not necessarily need access to theirs. Therefore POTUS Trump can dictate the terms.

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65 Responses to White House Economic Advisor Kevin Hassett Discusses Details Within GDP Release…

  1. Elric VIII says:

    “…a massively consequential strategic advantage.”

    The U.S.A. isn’t a superpower for nothing.

    I read that President Trump said that our defense industries are producing weapons at a pace that, when other countries want to purchase them, they are pretty much in stock. No pre-ordering required.

    Peace through strength.

    Liked by 13 people

    • Shark24 says:

      We have always had the leverage but not since President Reagan, have anyone come close to using it. President Trump is doing it right, God bless him! I got to see his positive policy changes up close in the ME while doing some military aerospace work.

      Liked by 12 people

    • Carrie2 says:

      Elric VIII, I have said many times when I was growing up we had it all here and the stuff sold was logoed Made in USA or Made in America and all of such great quality and endurance, yes, everybody wanted to buy our stuff. Great to see we are getting back to self-independence in America and that is how it should always be. However, the fake news and TV nuts can’t help say it is because of what O did. Really? Like shipping dollars and gold bars off to Iran, paying rebel fights to fight against Assad? Like saying we didn’t make anything? Yep, 8 yrs. of nothing from a nothing and now getting back to reality faster than many of thought would happen and all thanks to a man who loves his country and its people, and that man is President Donald Trump. Always pray for him and his Trump families because so many Trump haters out there or at at least out there for a short time because we are the real Americans and we know what we have to do or may have to do.

      Liked by 6 people

    • Mik says:

      That’s semi accurate. Take “Dumb” bombs we had in stock if you will for 30 years , unscrew the tip more of less today and replace with a modern “Tip” guidance, gps whatever and WHAM SMART BOMB. Most of that inventory is depleted. Other wise yes, if you need a missile a bomb bullets or pornography or food we can accommodate your business fairly rapidly.

      Those are the three honest to god business in this country self sustaining wise 🙂

      3/4 of the world (in general) consumes our porn, our food and buy their weapons from us.

      Now you tell me. If we ever had to fight here we have food to eat, weapons falling out our ass, and all the porn necessary for the down time.

      I rest my case.

      Liked by 1 person

  2. DanO64 says:

    It’s like winning even on the weekends. More winnamins.

    Liked by 16 people

    • Bill says:

      Another example of Donald J. Trump’s Extra Strength POTUS Winnamins in action.
      Winnamins to Winfinity!

      MAGA is picking up speed.

      Liked by 6 people

      • Newton Love says:

        “And when I give to you, it be shaken and compressed, with leveling to more.”

        Take that (Biblical) blessing, you heathen press corpse (pun intended!)

        Liked by 2 people

    • Minnie says:

      Cheers!!! 🇺🇸

      Liked by 1 person

    • fleporeblog says:

      Dan what excited me the most about that interview was the fact that the current 2nd Quarter real GDP rate of 4.1% was brought down by a full point because of inventories.

      That coupled with the European Union 🇪🇺 agreeing to buy more soybeans, cattle and LNG, whatever stock piling that China 🇨🇳 might have done, will be offset by more manufacturing to increase inventories and the EU.

      Sorry China 🇨🇳 but your plan will backfire!

      Liked by 4 people

  3. GB Bari says:

    So Hasset can explain how inventories and production affect the economy but he “doesn’t know higher numbers” (than 4.1% GDP) but “doesn’t want to disagree with the President” (with big grin on face). Well Mr. Hasset you just did.

    Talk about throwing tepid water on enthusiasm…….

    Larry Kudlow needs to school Mr. Hasset on how to not undercut the President while advocating for his policies.

    Liked by 10 people

  4. thedoc00 says:

    To put some numbers with the leverage.
    The US consumer drives over 70% of the internal US economy.
    The US consumer drives about 40%+ of the world economy. The break down, nation by nation is probably even more revealing.

    Liked by 2 people

  5. Curry Worsham says:

    I.m not familiar with this guy, but my suspicious cat eyes narrowed.
    So I looked him up.
    Maybe he’s changed?

    He was John McCain’s chief economic adviser in the 2000 presidential primaries and an economic adviser to the campaigns of George W. Bush in the 2004 presidential election and McCain in the presidential election of 2008. He was among Mitt Romney’s economic advisers for the 2012 presidential campaign.

    ***

    Hassett is coauthor with James K. Glassman of Dow 36,000: The New Strategy for Profiting from the Coming Rise in the Stock Market. It was published in 1999 before the dot-com bubble burst. The book’s title was based on a calculation that, in the absence of the equity premium, stock prices would be approximately four times as high as they actually were. In its introduction, Glassman and Hassett wrote that the book “will convince you of the single most important fact about stocks at the dawn of the twenty-first century: They are cheap… If you are worried about missing the market’s big move upward, you will discover that it is not too late. Stocks are now in the midst of a one-time-only rise to much higher ground–to the neighborhood of 36,000 on the Dow Jones industrial average.”[8] The Dow Jones Industrial Average closed at 10,273.00 on the day of the book’s publication on October 1, 1999,[9] peaked at 11,722.98 105 days later,[10] then declined 37.8% through October 9, 2002.

    [Oops.]

    https://en.wikipedia.org/wiki/Kevin_Hassett

    Liked by 17 people

  6. A2 says:

    Sundance says:
    “Remember, one of the unique attributes of the U.S. economy, thanks to the foresight of industrial titans who built it, is our internal consumption. We are not only the worlds’ largest economy, we are the biggest self-sustaining economy in the history of the world; a massively consequential strategic advantage”

    Now a snapshot of the flip side, the world’s No.2, an unsustainable economy papering over the cracks, or throwing money, albeit strategically, to buy power and influence as the centre can not hold.

    Follow the money. Take a dive into these statistics. Very interesting reading (nice searchable graphics also).

    “Does China Dominate Global Investments?”

    https://chinapower.csis.org/china-foreign-direct-investment/

    bit.ly/CP_fdi

    Liked by 5 people

    • pyromancer76 says:

      A2, thanks for the summary article. One quote I noticed: “Over the last decade, roughly 31 percent of Chinese FDI in Asia and Oceania flowed into Australia.”

      My first response is no wonder this former ally has been an enemy (5 eyes) to the American-U.S. and a friend to the marxist-U.S.(Everyone knows who I am writing about.) Austgralia’s leaders have spouted the AGW-Climate Change nonsense everywhere, changing government data, etc., and doing their best to destroy Australia’s economy and a vibrant economic life for Australia’s citizens.

      One place that follows this evil is joannenova.com.au

      Like

  7. Sunshine says:

    When Trump announced the subsidies, I figured it was an open threat. And then everything fell in line.
    Now, what to do with the dairy industry? Give subsidies until Canadian economy really drops.

    Like

    • YvonneMarie says:

      So many people are allergic to cow/dairy products.
      Not so sure the dairy industry is good for people. It is great for the medical & pharmeciudical complex though…

      Liked by 1 person

      • G. Combs says:

        Goat milk (and cheese) is much better for you but sheep milk is KING!
        https://www.kingsmeadecheese.co.nz/home/health

        Liked by 1 person

        • highdezertgator says:

          Artisan goat and cow cheese The Old Windmill Dairy, based in Estancia, New Mexico, we offer retail and wholesale sales, cheesemaking classes, and farm tours. Cheese is for sale by appointment only on the farm or when we have an event. you can adopt a goat!
          Green Chili / Jalapeno Cream Cheese…. yummy bueno! https://oldwindmilldairy.com/

          Liked by 2 people

          • Carrie2 says:

            highdezertgator, one think not eaten often in Mexico is jalapeno as too hot and not enough flavor but yummy in chipotle (smoked jalapeno). We mostly ate the serrano chili which is spicy and great taste, and chili pequin which you can’t buy in the USA. Am drooling just thinking of serrano but we grow it and then I foor saver it for the freezer. Chile verde is my favorite but also like salsa casera (homemade great salsa).

            Like

          • Dennis Leonard says:

            I sure hope with the free advertising you are doing ,you are going to make a few donations to CTH,as the donation button is in the right and corner.

            Like

        • talker2u says:

          G, I had sheep milk (raw, of course) for the first time about two weeks ago.

          You are 100% correct.

          Like

      • Carrie2 says:

        YvonneMarie, so true because it has been known since 1950 that it is toxic to human beings due to size of aminos. Personally I have never liked nor drank milk even as a child because didn’t like odor nor taste. I will admit, however, that I love REAL whipped cream on my pumpkin pie and homemade strawberry short bread/biscuits (especially Martha Stewart’s recipe) or when we eat out and I can get Key Lime Pie I ask always for a double of whipped cream and I like the whipped cream especially without added sugar or flavorings. It is also one of the two worst allergy causers: wheat and dairy from the cow so I always suggest if you want a milk get goat or sheep and stay away from nut milk and never ever soy milk.

        Like

      • pyromancer76 says:

        And so many people are not. Learn your own personal health history and stay out of that of others.

        Like

    • starfcker says:

      Sunshine, remember this. The farm subsidies are just like tariffs. They’re a big stick, they put the world on notice. Best case scenario we won’t have to do it. But if we have to we will no questions asked. You will not bleed are farmers dry either. We won’t blink. We are big, and we are bad, and we can see our farmers through anything. President Trump sees every negotiation through the lens of leverage. He is a noted counter-puncher, and this is just another counterpunch.

      Liked by 5 people

  8. How we WIN on EU Trade Deal, with ZERO Tariffs, Barriers or Subsidies:

    TAX RATE Advantage:
    • EU’s Socialism-supporting high V.A.T. Tax Rates cannot compete
    • EU’s increased NATO-Funding Commitments require Tax Rate Hikes
    • EU’s growing Migrant Populations and Benefit Commitments require Tax Rate Hikes
    • USA’s low Tax-Cut 1.0 Rates include Capital Spending Expensing for Expansion & Productivity
    • USA’s pending Tax-Cut 2.0 will increase our advantage
    • USA’s shrinking Illegal Alien Populations and Benefit Withdrawals funds more Tax Cuts

    REGULATORY COMPLIANCE COST Advantage:
    • EU’s Centrally-Planned Economies and huge Regulations increase Costs and limit Opportunities
    • USA’s Massive Regulatory Cuts multiply Capital Projects and accelerate starts & completions

    PRODUCTIVITY Advantage:
    • EU’s Workforce works many fewer weeks per year and hours per week
    • USA’s Workforce works more weeks plus overtime
    • USA’s Worker Shortage drives growing Automation Investments in Productivity

    LOGISTICS COST Advantage:
    • USA exports to the EU will be filling “Empty-Backhaul Shipping”
    • We’ll be negotiating big Discounts from the Shipping Oversupply until the Trade Deficit is gone.

    Liked by 6 people

  9. Minnie says:

    “We are not only the worlds’ largest economy, we are the biggest self-sustaining economy in the history of the world”

    BOOM!!

    🙏🇺🇸🦁🇺🇸🙏

    Liked by 12 people

    • Rhoda R says:

      And this was why the globalists have been trying to turn us into a servitude economy – so that we have to be dependent on the rest of the world.

      Liked by 8 people

    • G. Combs says:

      I wish Dan Bongino understood that. He leans libertarian and TARIFF is a really dirty word in his world.

      With very, very few exceptions the USA could close the doors completely and exist quite nicely without the rest of the world.

      For example Hawaii, California and Puerto Rico grow coffee. Tea is grown in several states… Hawaii and South Florida even grow cocoa beans for chocolate, so I am good. 🤣

      Liked by 3 people

      • wondering999 says:

        Chocolate security! Did not know that. I am reassured

        Liked by 2 people

      • Ozzytrumpster says:

        Coffee and chocolate. The 2 most important food groups

        Liked by 2 people

      • USTerminator says:

        Just remember this on why tariff is needed for country to prosper. When you buy a toaster “Made in USA”, this toaster also pays for the road that you drive, the park that you visit. The school, the hospital, the aircraft carrier, the police, the social services…. everything around you. Now, when you buy the toaster “Made in China”, nothing pays for anything around you and you will pay extra tax to compensate for it. Tariff is just a way to pay for their “Fair Share”. The only way tariff free would work is reciprocal trade. This mean that we pay for their school and they pay for ours.

        Liked by 4 people

      • talker2u says:

        California is part of the United States?!

        Like

      • pyromancer76 says:

        Yes we could, Gail, but this is the beauty of a real (finally), vibrant U.S. economy. It lifts all boats (other countries) that are part of the free and fair market system and makes them stronger and more resistant to any takeover by the variety of totalitarians.

        Especially we need to share this means to prosperity with all those countries that are leaning toward the China stupidity. The foreign-investor-Chinese are like fire ants; once inside they eliminate all “competition” meaning everything done by local citizens.

        Like

    • Tseg says:

      We also have the right balance of natural resources few counties have… food AND energy.

      Liked by 1 person

      • davidb says:

        we need titanium to build our aircraft, and lithium for batteries. Chile has lithium, but Ukraine and Russia have the titanium….possibly North Korea too.

        Like

        • G. Combs says:

          US company begins tests on world’s largest titanium … – Mining Weekly ( It is pay walled.)
          “Mar 16, 2012 – Privately owned mining company CIC Resources is making progress in delineating its resource at its Alto Paraná project, following its announcement last year of the discovery of what may be the world’s largest titanium deposit in Paraguay[…]”

          Like

      • Carrie2 says:

        Tseg, and if the upcoming new president in Mexico is smart, we can get access to a lot more minerals because Mexico is rich in minerals but not smart enough to do much with them.

        Liked by 1 person

  10. Timmy- the-Ute says:

    Let’s not forget that most of the other countries like the EU, Japan and Mexico have a GDP growth rate of only about 2%. If the US have a similar rate for a sustained amount of time the rest of the world would drop into a recession.

    Liked by 1 person

  11. alliwantissometruth says:

    The American worker & American ingenuity is a huge asset

    Now that serious adults are in charge, that asset is being utilized for the benefit of it’s rightful owners

    The stupid people (democrat, RINO voters) need to realize when they vote for childlike ideologues with agenda’s that go against economic empowerment, they’ll get results that harm them economically. It’s that simple

    What our President is doing is reorganizing the assets of the biggest company out there, the USA, & he’s now beginning to place the authority back to those who own the company, the American people

    Our profit sharing checks come in the form of a booming economy, plentiful jobs & a nice paycheck

    Our economic vitality is way too important to be left to incompetent, America hating fools such as the corrupted democrat “leadership” & the corrupted self serving RINO’s

    People worldwide would do well to study & reproduce Trumps economic understanding & strategies

    Liked by 4 people

  12. 10buck2 says:

    Here is an excellent Pat Buchanan article on this very topic.

    http://www.theamericanconservative.com/buchanan/tariffs-made-america-great/

    Like

  13. Anonymous says:

    Barry, what about your economic growth? (Yeah, thought so.)

    Like

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