Boo_Boo Loc: Jellystone

Things are looking up! President Trump was shooting for a 3 percent jump.... and we passed that mark.

U.S. economic growth was a bit stronger than initially thought in the second quarter, notching its best performance in nearly four years, as businesses boosted spending on software and imports declined.

Gross domestic product increased at a 4.2 percent annualized rate, the Commerce Department said on Wednesday in its second estimate of GDP growth for the April-June quarter. That was slightly up from the 4.1 percent pace of expansion it reported in July and was the fastest rate since the third quarter of 2014.

Compared to the second quarter of 2017, the economy grew 2.9 percent instead of the previously reported 2.8 percent. Output expanded 3.2 percent in the first half of 2018, rather than 3.1 percent, putting the economy on track to hit the Trump administration's target of 3 percent annual growth.

bmac32 Loc: West Florida

This is very bad news for democrats, they were banking on it would slip in the range of 2.1 so this another feather in Trumps hat. Sure wish I had the stocks that we had in 2005 but as is we did quiet well.

pafret Loc: Northeast

How many Wal Marts opened last month? Has Sears decided to refurbish their remaining stores and hire more staff? Are there plans to revive the Baldwin Locomotive works. Have General Motors, Budd company and GE T***sport expanded their Locomotive production facilities?

bmac32 Loc: West Florida

As far as I can tell Sears is going by the way side. You really want or need more Walmart? Between Walmart, Sam's we have 7 stores within 7 miles so I don't think we need more. Ass for the rest. Buick sales are up 145,000 so far, Jeep is way up over 600,000.

Boo_Boo Loc: Jellystone

I do not know. I know that walmart announced in 2016 they were closing 269 stores around the world. How many have been opened, I doubt that any. They must first deal with the resizing and placement of those employees. Once the closings have happened they will be a better position to consider their next step forward. This may not happen for another 2 years.

Sears made a huge mistake in 2012 when they decided to allow stores to be owned by individuals. When they made this decision, anyone with sufficient funding could buy a store. But, they had few choices they have been going under for a number of years. K Marts, which is part of Sears started closing their doors in 2009 and I think most of those have already closed. Fact is, K Mart could not compete with WalMart. Sears could not compete with Lowes.

Trains.... my favorite way to travel. Many of the locomotive builders are t***sitioning to cleaner engines under the controls established in 2011. The old means, burning coal or oil could not meet the imposed EPA standards. Now, they will have to consider newer technology and this will require changes to the rail as well as the train. At one time the trains were government subsisted. But, that government funding was reduced or eliminated from budget proposals starting in 2009. Although I would like to see the rail become more popular, reducing 18 wheelers.... I do not see this happening. Like the stage coach, they will soon be phased out.

pafret Loc: Northeast

My point was that the gains in GDP while encouraging is not the whole story. Retail sales have been dying for the last thirty to forty years, with many small, medium and large size chains going out of business. Each carried a penalty of permanent loss of jobs. Locomotives are the quintessential heavy industry, of which we have very little remaining and no expansion on the horizon. It is these jobs which allow for consumer demand and greater prosperity, not some jimmied index.

bmac32 Loc: West Florida

Of course it's not the whole story but you have to admit up is better than down. For me trains are going out, the cost is too high to ship actually everything is too much by rail.

vernon

Can't remember a quarter in the last 8 years that were anywhere near 4% .Or am I reading that thing wrong.Obama didn't have a quarter anywhere near 4%.

Boo_Boo Loc: Jellystone

Once, I believe it was right after he was elected the first time. This is an old chart, but it is accurate up to 2017.

pafret Loc: Northeast

Fullspin just posted an article with this link:

https://www.americanthinker.com/blog/2018/08/reality_keeps_repudiating_the_mainstream_medias_assertions_on_trump.html

It contradicts what I just wrote about retail sales being in a death spiral. If this article is based on fact then there has to be something more than just confidence driving this; there has to be a lot of new jobs.

lpnmajor Loc: Arkansas

Huh, and here Sears/Kmart are closing 46 stores, lowes closing 100 stores, stock market record numbers due to companies buying back their own stock.......................somebody didn't get the "tremendous economic boom" memo. I bet they'll be really embarrassed after they find out.

Low unemployment numbers mean squat to the unemployed. Magnificent economic indicator numbers mean squat to the 1000's that lost their jobs.

bmac32 Loc: West Florida

Brain not working? If your unemployed your either untrained or lazy. Sears as been downsizing for a few years and was hit hard between 2010 and 2016 losing 10.4 billion.

Weasel Loc: In the Great State Of Indiana!!

WOW#! Great News.

bahmer

Amen and Amen

okie don

It's not looking good here in T-town either Major