U.S. second-quarter GDP accelerates to 4.1% annual rate

All the Democrats will have to stop crying before they can come up with a statement.

Schumer (crying) shouts “What are we gonna do, Senator Warren?”

Senator Warren replies “What me ‘we’, paleface?”

“Obama Lays Groundwork For Massive GDP Growth In 2018”

“Trump Fails To Reach 4.2% GDP, Economists Startled”

“Uncontrolled Expansion Threatens Trade Relations”

“Trump Russian Collusion Causes Freak Economic Spurt”

“Trump Sucks. Everyone Should Hate Him”

They will be saying that in Trump’s year 8.

Levin and Beck And any credibility they might have had. And now they can’t control themselves from bashing Trump even though they had to pretend to support him in order to save their careers.

I no longer listen to either

Amen

They generally take over during some crash or downward turn and are the cause of the economy not coming back. Had Obama done nothing at all I would bet the economy would have come back by 2012. All Trump did was roll back his regulations which was nothing more than a barrier holding it all back.

... China started buying sorghum from Russia and Mexico just secured purchasing of wheat from Russia... ***

*** Mexico turns to Russia for cheaper wheat amid trade tensions with US - TH, by John Bowden, 2018-07-26

< snip > ..... three major grain milling companies in Mexico that have purchased the vast majority of their wheat and other grains from the U.S. are looking at Russian suppliers and other options in Latin America.

Mexican companies fear U.S. grain prices could rise if their government responds to U.S. tariffs on steel and aluminum with reciprocal tariffs targeting U.S. wheat and other grain exports, the news service added. ..... < snip >

..... "It's important to send signals to Mr. Trump," Canimolt chief Jose Luis Fuente said, adding: "We can't continue to have this absolute dependence" on the U.S.

One U.S. farmer based in Kansas told Reuters that grain prices had dropped 50-60 percent since the beginning of the year. ..... < snip >

..... U.S. wheat exports to Mexico have reportedly dropped 38 percent in value to $285 million since the beginning of the year, while global U.S. wheat exports have decreased by a total of 21 percent. The Trump administration has signaled that it will use a Depression-era law to provide up to $12 billion in aid to farmers hurt by its trade policies. ..... < snip >

1. Newest revisions and adjustments to how the GDP data is weighted and interpreted for 2012-2017 (e.g., weather, hedonics and qualitative analysis). ****

**** Why revised economic data is so important - NYP, by John Crudele, 2018-07-25

On Friday, we'll learn how the economy has been doing under President Trump . . . and under former President Obama . . . and also under former presidents George W. Bush , Bill Clinton , George H.W. Bush and so on.

That's my long way of saying the US Bureau of Economic Analysis (BEA) on Friday is going to correct — "revise" is the polite word — the economic data that goes into the nation's gross domestic product all the way back to 1928, when Herbert Clark Hoover had the misfortune of being elected president.

The revisions tend to get smaller as time goes on. But the more recent ones could be very interesting. ..... < snip >

..... The Federal Reserve Bank of Atlanta is guessing that Washington will report an annualized GDP expansion of around 4.5 percent. ..... < snip >

..... Trump and his people — including daughter Ivanka — are already crowing about 4 percent growth. ..... < snip >

..... 1) the growth was achieved only by cutting taxes, a move that could hurt the nation's long-term debt situation, 2) that economic spurts like this have occurred before only to peter out ..... < snip >

..... Politics aside, people should really pay attention to the revisions coming out Friday. ..... This is only a game of fiddling with the numbers, but the BEA can move growth forward from the second quarter into the first quarter, when the GDP expanded at an annualized rate of only 2 percent. ..... < snip >