Economic News

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The reading comes after a large surge in imports ahead of President Trump's tariff whipsaw caused GDP to contract by 0.5% in the first quarter. The BEA noted that the second quarter bounce-back reflected a decrease in imports, which are a subtraction in the calculation of GDP.

So wouldn't it make sense to ban all imports which would really boost GDP ?
 
I was shocked at 3%. But then I saw that 1Q was also revised down and it makes more sense. 2.7% on net still seems too high to me, but that's why the government measures this shit instead of just asking me.
 
I think I love this GDP report because it spells trouble for Trump. The headline number is good this far into Trump's Presidency. So later if the economy goes down, Trump won't be able to make a believable argument that he was handed a bad economy.
 
GoHeelsweeeehoooo said:
I'm starting to wonder that maybe Trump won't fuck up the economy as badly as I feared?
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I think we're in an in-between zone where market participants aren't really sure what to do. We had an extraordinarily strong economy coming into 2025, so the default is to keep things at a relative stasis. But the impact of the highly unusual economic policies that are being enacted now may not be felt for a few more months.

Now, I'm not economically illiterate but I'm FAR from an expert. So maybe all this will play out in a positive way. I sure hope it does. But everything I do know about credible economic theory suggests we're going to have to pay the piper eventually, and that will likely start happening within the next six months.
 
nycfan said:
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Bonus points because this information WASN'T from a Trump agency. I don't trust ANY GODDAMN NUMBER coming out of the Commerce Department or the Bureau of Labor Statistics now. I'm better off pursuing my local economic news. Except for gas, costs are up, and more factories and small businesses are closing than opening.
 
superrific said:
I don't know what you feared, but the indicator lines are looking poor. And the tariffs haven't even really landed yet, nor have the effects from the deportations/ICE terror.
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Just seems like so far - from an economic prospective - things have stayed about the same - and my 401k has done ok so far this year
 
Something to consider: in the first Trump term the economy appeared to be doing well before COVID. But it was fool's gold. There were important tax cuts coupled with increases in government spending which spurred growth, but all this did was create a much larger deficit...which became even larger once COVID came through.

The BBB will do some of the same. Tax cuts for some, boost in spending, resulting in a much bigger deficit down the road. It's the kick the can approach to economic policy.
 
Callatoroy said:

1. It would appear the left's "tariffs are going to cause rampant inflation" claims were wrong
2. To date the tariffs have been a net benefit for the US economy
3. Trade deals with japan and the eu are going to drive a lot of foreign investment
4. Winning
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1. It appears you are ignorant about economics.
2. GDP is 0.9 BELOW where it was predicted to be before the election.
3. LOL
4. Inflation is higher and GDP is lower. Winning?
 
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nycfan said:
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1. In this chaotic, nonsensical economic world, that seems to be the only reasonable decision.
2. An absolutely MASSIVE Twitstorm from the most powerful man in the history of the world is incoming.
3. This, plus the humiliation Trump suffered the other day while touring the Fed, significantly increases the risk Trump will fire Powell, which is probably the greatest risk we face at this moment of having an economic meltdown within the next 60 days.
 
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