Tag Archives: Economy

Enumerati

GDP Up in Second Quarter, Not Expected to Last

4.1%

“United States gross domestic product rose at an annual rate of 4.1% in the second quarter, up from 2.2% in the first three months of the year. It was the strongest quarter of growth since 2014,” the New York Times reports. “The second-quarter acceleration was widely anticipated by economists, a result of a confluence of events unlikely to recur. Most economists expect growth to slow in the second half of the year.”

News & Comment

Trump’s Decision to Leave the Iran Deal is Making Gas Prices Rise

The $.40 per gallon jump in gas prices over the past three months can be credited to one person, according to U.S. Rep. Frank Pallone (D-NJ).

“Thanks Trump!” Pallone says.

Senior energy analyst: “A lot of the reason for higher prices is the president’s policy on Iran…You’re going to see prices spike.”

The ranking member of the House Energy and Commerce committee traces a line that leads not straight, but up — as in the price of gas — to Trump’s decision to pull the United States out of a plan to help monitor Iran’s nuclear weapons program.

The so-called “Iran deal” also eased previous sanctions in order to encourage Iran to be a world partner.

Pallone is not the only one to make the connection.
read more »

Enumerati

Out of 43 Economists, Not One Backed Trump’s Tariffs

43

A new University of Chicago survey of 43 top economists found not a single one said President Trump’s new tariffs on steel and aluminum will end up being a net positive for Americans. Overall, 65% of respondents said they “strongly disagreed” when asked if Trump’s move “imposing new US tariffs on steel and aluminum will improve Americans’ welfare,” while 28% simply disagreed. Three economists, or the remaining 7%, did not respond to the survey.

Enumerati

Two-Thirds Say Economy Is Doing Well

63%

A new Quinnipiac poll finds that 63% of American voters say the nation’s economy is “excellent” or “good,” while 34% say it is “not so good” or “poor.” More think President Obama is mostly responsible for the state of the economy, 45% of voters, than President Trump, 43% of voters. In fact, voters disapprove 51% to 44% of the way Trump is handling the economy.

Enumerati

Most Not Happy with Direction of the Country

36%

A new Fox News poll finds just 36% of voters are happy with how things are going in the country — down 10 points since April — while 64% are dissatisfied. Most interesting is that the shift “is not, as is often the case, tied to the economy. Positive views on the economy are higher than in more than a decade: 36% say it is in either “excellent” (6%) or “good” (30%) shape. The last time conditions were rated this positively was August 2004.”

Enumerati

Economy Achieves 3 Percent Growth Under Trump

3%

The U.S. economy grew at a brisk 3 percent pace in the April to June quarter, the Commerce Department said Wednesday — a report likely to be welcomed by President Trump, who has repeatedly vowed he can propel the country to faster growth, the Washington Post reports.

Enumerati

Nuclear Nerves Wipe $1 Trillion Off World Stocks

$1 trillion

The damage inflicted on world stocks this week by the escalating war of words over North Korea topped $1 trillion on Friday, as investors again took cover in the yen, the Swiss franc, gold and government bonds, Reuters reports.

News & Comment

All the Economic News is Not Good

Trump continues to claim credit for the economic recovery that was well under way, and handed to him by Pres. Obama, when he took office. His supporters acted as if the Dow hitting 20,000 was Trump’s work alone, possibly because their guy told them so. As the unemployment rate continues the decline it was already experiencing under Obama, Trump will no doubt bask in the glory.

But there’s another economic number that Trump can rightfully own. The decline in the strength of the U.S. dollar is all on him.

170803150431-dollar-slump-trump-780x439 read more »

Enumerati

Economy Stagnated in Q1

0.7%

The Commerce Department said the U.S. economy barely grew in the first quarter of 2017, expanding at an annual rate of only 0.7 percent. Associated Press: “The slowdown primarily reflected slower consumer spending, which grew by just 0.3 percent. That was the poorest showing in more than seven years.”

Enumerati

Only 98,000 New Jobs in March

98,000

The U.S. economy added only 98,000 jobs in March, well below expectations, though the unemployment rate dropped to 4.5%, its lowest since May 2007, the Wall Street Journal reports.