July 27, 2018

How the US reached 4.1% GDP growth — when economists said it was impossible

Ezra LevantRebel Commander

The United States just recorded a stunning GDP growth rate — 4.1 per cent.

GDP means gross domestic product. It’s another way of saying how much everyone made economically — goods and services. It shows if factories and stores are busy, if construction is happening.

In recent years — recent decades, really — GDP growth has been just a couple of a percent per year. The only countries that saw high growth — five, six, seven percent, occasionally you see countries near ten percent — are rapidly modernizing, industrializing countries.

In the U.S., GDP has been under five percent for years. Rarely much above three.

Economists mocked Trump when he said he could get it higher.

Well, he just did it. Maybe he really is making America great again.

And our guy? He’s taking another holiday today. More than 20 holidays so far in 2018.

We don’t have a NAFTA deal. We have an immigration border control crisis. We just had a terrorist attack in Toronto. But our man-child is on holidays.

And Canada's GDP hasn’t been above 2 per cent since the 1980s. We had 0.3 per cent growth this quarter.

We’ve banned fracking, pipelines and oilsands expansion. We’ve attacked mines and quarries. We’ve taxed everything that moves, and most things that don’t. Our childish leaders are blathering on about how carbon taxes create jobs.

I don’t know if America’s growth rate will continue at 4.1 per cent. Looks like his deals with places like Europe may actually create a world-wide economic boom. Maybe we’ll get some of the benefits indirectly.

But the opposite might happen, too.

Well, we’ll always have all the “jobs” that come from our carbon tax, won’t we?

TONIGHT'S GUESTS: Manny Montenegrino on NAFTA; and Paige MacPherson, CTF Atlantic Director, talks about Trudeau Liberals threatening PEI with a carbon tax.


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commented 2018-07-30 19:31:29 -0400
TONY STARK commented 4 hours ago
Allan Peterson,

I don’t have the answer you want to hear from your loaded/flawed question.

So make your point or else I am moving on.

Sorry just got back from Invermere.
How a question can be loaded or flawed in so simple a form is beyond me.
You do have the answer you just won’t give it. So move on. I’ll catch you on the same topic elsewhere.
Have a good day, CS Man.
commented 2018-07-30 15:40:02 -0400
Allan Peterson,

I don’t have the answer you want to hear from your loaded/flawed question.

So make your point or else I am moving on.
commented 2018-07-30 13:36:58 -0400
TONY STARK commented 14 hours ago
Allan Peterson,

Make the point you are dying to make.
I prefer the socratic method. Much better than lecture format for retention. Why not answer? Sans Guts?
commented 2018-07-30 04:18:00 -0400
Did you guys catch the tax cuts 2.0 part?
commented 2018-07-30 04:05:32 -0400
Wow, the guy just had a heart attack and he is up and at em just brimming with optimism. Only available in the U.S.? Pity!
I bet if Ezra asked him real nice like, he would do an interview.
commented 2018-07-30 03:34:58 -0400
In fairness to Butts, it is hard to concentrate on the economy when you are finding Nazis behind every tree.
commented 2018-07-30 03:28:44 -0400
Nice guy, Larry Kudlow, Trump economic advisor likes to say that free market capitalism is the still the best path to prosperity and Trump is proving him right. Meanwhile in Canada, Marxist PM Butts is a fail.
commented 2018-07-30 03:17:43 -0400
Good for you Tony, now help us get rid of the Boy Blunder and his environmentalist whack job senior political advisor so the rest of us poor Canadians can get rich like all those mouth breathing, neanderthal Trumpsters down it the States.
commented 2018-07-29 23:43:17 -0400
Allan Peterson,

Make the point you are dying to make.
commented 2018-07-29 23:40:53 -0400
TONY STARK commented seconds ago
Allan Peterson,

Let’s cut to the chase. Your question is loaded and flawed, so just make your point that you are dying to make.
How cana simple question be flawed?
Why don’t you just answer it O Gutless One?
commented 2018-07-29 23:39:43 -0400
TONY STARK commented 7 hours ago
Allan Peterson,

Harley Davidson doesn’t want to move ANY of it’s production out of America, but they feel screwed by Trump and said so.
No, H-D didn’t. They were screwed by Europe in response to Trump who was responding to years of high tariffs on screwing American products.
commented 2018-07-29 23:39:16 -0400
Allan Peterson,

Let’s cut to the chase. Your question is loaded and flawed, so just make your point that you are dying to make.
commented 2018-07-29 23:37:13 -0400
Tony, you still haven’t answered the question. I never asked about refugees. Germans were not refugees during the war. Answer the question O Gutless One.

What difference does it make that they were at war with Germany? We knew that not all Germans were Nazis. So why not let the good ones in?
commented 2018-07-29 21:19:49 -0400
Here we are, commenting on yesterdays comments, trying to ignore Liberal Trollops and meanwhile Ezra is setting off to Englanistan, to keep us up to date on Tommy. Life gets tedious don’t it. Hey Ezra don’t forget to send us all a postcard. If you take a little side trip to Piccadilly, you will be able to find some real funny ones, crude maybe but funny.
Side track, In Victorian and Edwardian days, Prostitutes were known as Dillys and liked to hang out by the Statue of Eros, the Goddess of Love, hence when you felt the need for a little entertainment, you went out to Pick a Dilly, Hence the name Piccadilly Circus.
commented 2018-07-29 18:12:34 -0400
Robert Mcclelland,

I am already rich and my company is doing great, so there is nothing for me to wait for.
commented 2018-07-29 17:54:00 -0400
Yeah Tony, that carbon tax and PM Butt’s alternate economy is going to make you rich….just wait and see…..and wait..….and wait…..
commented 2018-07-29 17:50:33 -0400
Tony, thanks for your concern, but I am not blowing my load over one quarter.
What does have me amused is the distress of the lefty economists that the economy didn’t immediately implode after Trump was elected as they predicted, that tax receipts are going up, instead of down and that Trump did achieve 4% growth contrary to all the left’s predictions. They already have egg on their faces, the longer this lasts the worse they look. Trump says this is sustainable, the left says he is wrong, my money is on Trump, because since Trump was elected, the lefties have yet to be right. Even George Soros lost billions betting against Trump. Just remember, Tony old boy, the trend is your friend.
commented 2018-07-29 17:15:48 -0400
Robert Mcclelland ,

He’s done it for a quarter. That’s not the same as doing it for a year. Don’t blow your load just yet.

The trillions amount Trump is borrowing to pay for the tax cuts and record clip of daily borrowing will provide temporary relief, but will cause a crash later. I am sorry that you don’t understand the concept of what goes up must come down with the economy.

Business has been great for me in Canada. No reason to complain. The economy will improve – don’t you worry. You need to play the long game and not just take a snapshot of a few months.
commented 2018-07-29 17:01:48 -0400
Allan Peterson,

I answered your question in another thread. You didn’t respond. I moved on.

Harley Davidson doesn’t want to move ANY of it’s production out of America, but they feel screwed by Trump and said so.

Yes, Patreon and Paypall are out of line for not wanting to be associated with a racist person.
commented 2018-07-29 16:52:56 -0400
First the lefties say the Trump economic boom was never going to happen. Now they say it is only temporary. Meanwhile, in Canada, growth is an anemic 1.3%. How are those sunny ways working out for you Canada?
commented 2018-07-29 16:50:15 -0400
Perhaps you have read that Harley Davidson is leaving America due to Trump’s tariffs.
Wrong. Harley Davidson is moving some of its production to Europe. SOME. Just like GM. Ford and Chrysler have production plants in Canada even though they are headquartered in Detroit USA. When they opened plants in Canada they did not move out of America. https://www.cbsnews.com/news/harley-davidson-moving-some-operations-overseas-blaming-tariffs/

Say, Tony, got a question for you that you seem shy about answering for some reason:
During WWII we knew that not all Germans were Nazis.
How many did we let into our country?
commented 2018-07-29 16:44:28 -0400
TONY STARK commented 18 hours ago
Faith Goldy Banned From Patreon.
Thanks for sharing that Tony and showing what a bunch of intolerant and exclusionary, thin-skinned whiners the left are. We already knew that but thanks for the reminder.

Now can you answer a quick question for me?
1. Preamble: During WII we knew that not all Germans were Nazis.
2. Question: How many Germans did we let into he country?
Question 2. Why?
commented 2018-07-29 16:06:24 -0400
So, the thriving economy years under Ronald Reagan were an Illusion???
commented 2018-07-29 13:54:16 -0400

Again, it is temporary. Why is this so hard for you to understand?

Perhaps you have read that Harley Davidson is leaving America due to Trump’s tariffs. Many more companies will also leave.

You don’t need to be a socialist to know that tax cuts are not good long term and rarely help the middle class. You need to know something about economics and history, which has shown that tax cuts don’t work or trickle down. If you knew anything about economics, you would acknowledge that instead of praising your political team.

These tax cuts are going to cause major problems in the economy. I would say the same thing with Obama. A crash is coming, but who cares right? As long as Joe Sixpack has a few extra bucks in his paycheck now. It doesn’t matter that he will be worse off later and people will be losing their jobs.
commented 2018-07-29 13:25:11 -0400
Ted Tadright,

That’s just the tip of the iceberg to get you started. You don’t even have to read the whole book as the chapters listed are horrible enough, so that’s no excuse. Did you actually read the link and this part with links given?

Goldy – who previously appeared on a neo-Nazi podcast, recited a creed written by a neo-Nazi and endorsed a manifesto calling for an “ethno-state” for the “Aryan” race – now says she no longer endorses the book.

I see you are still going to play deny the facts.
commented 2018-07-29 13:20:44 -0400
Andy Neimers,

I never posted that with Obama, so you are talking out of your ass.