Pic Of The Moment: Funny How That Works

[EarlG]

U.S. slowdown deepens as economic growth slips to 1.9 percent pace in third quarter

Trump: I'm in deep trouble!

Follow @demunderground

[dalton99a]

1. Kick

[underpants]

2. 1.9% is really equivalency to the amount of effort Trump puts into his job

So in the cult that’s 100%!!!!

[mahatmakanejeeves]

3. There's a Trump tweet for everything. NT

[George II]

4. Actually your second bubble could also read "I blame Obama."

[IronLionZion]

5. Both are Obama's fault

since Trump didn't do anything and was just playing golf, or something.

Maybe they'll blame the impeachment investigation.

[Gothmog]

6. K&R

[progree]

7. A couple of graphs and the link to the LBN story

Link to LBN article/discussion: https://www.democraticunderground.com/10142388447

The official BEA report: https://www.bea.gov/data/gdp/gross-domestic-product



There's this from FRED that goes back all the way to 1950 -- see post#1 by dalton99a above.

Or here: https://fred.stlouisfed.org/series/A191RL1Q225SBEA

One can set the from and to dates in the boxes above the graph, or move the slider below the graph.

I moved the slider to:   from Q4 2009 to Q3 2019 1st estimate (so as to show the Obama years and Trump years together , leaving off the Bush Great Recession dive into 2009)

[Hassler]

8. Wilbur Ross is the Commerce Sec. 1.9 is another Chump lie.

[sandensea]

9. I wouldn't be surprised

To be fair, they've been massaging GDP growth figures for a long time.

It's said to have started with Reagan - but the practice really came into its own with Dubya.

Suddenly, all growth figures going back to 1947 were bumped up 0.4% annually for each and every year (on average).

How?

Among other tricks, they recalculated durable goods prices inversely to the increasing memory in computers for example (which as you know, always grows exponentially).

When you look at the historic data in the detailed GDP tables, there's always a yooge cumulative "statistical discrepancy" ($100 billion or more, which, sure enough, is close to 0.5% of GDP right now).

This method, btw, also created the infamous chained CPI.