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If Trump had won, there would have been legions of Trumpers broadcasting projections like this up the kazoo on this board, and giving Trump credit. So I'm merely doing whatever they would have been doing.
I told you the other day that CEO confidence was the highest in 17 years. Projections of GDP growth in 2021 and even into 2022 confirm the reason for that optimism. While it's early and these projections will certainly change, as of right now there is a lot of reason for optimism.
Unless, of course, you're a Biden-hating conservative.
BS....the reason that we are and will see growth is because we are recovering from the pandemic and has nothing to do with Biden or his administration policies. If Biden and the democratic party is successful in raising taxes on the so called wealth which will be passed down to the middle class we will find ourselves in a recession. Don't believe me.... check out the raising prices in groceries, gas and lumber for a start.
If the government want to raise federal funds (why is beyond me except to create a bigger government to control both you and me) simply cut the loop holes/deduction for corporations and/or use the flat tax system. But with influences of big businesses on the government that will most likely never happen.
It gets a bit trickier when you ask, what policy or policies of Biden will cause the growth. The answer is no policy. The projected growth is about the same as it would have been had Trump won. A huge part of the growth is the return of business from the pandemic drop. Continuing problems with the pandemic in Europe and Asia may be adding to the growth projections.
But you can seldom look at any one reason for an expansion or contraction. 2020 is one of those exceptions where the contraction was obviously a result of the lockdowns.
And remember that projections are just that. If Biden gets his capital gains tax and corporate taxes through and all the spending he wants, I'd shave 200 basis points, maybe more, off that projected growth.
Sales of light vehicles totaled 18.5 million at an annual rate in April, above the 18.0 million pace in March. The April result was the first month above the 16 to 18 million range and the fastest pace since July 2005. Unit sales plunged in March and April 2020 to 11.4 million and 8.7 million annual rates, respectively (see chart). The pace of sales in April 2020 was the lowest on record since this data series began in 1976 and follows a run of 72 months in the 16 to 18 million range from April 2014 through February 2020. Recent strength is a positive sign for consumer spending but may also be partially attributed to a potential chip shortage with consumers looking to accelerate purchases before inventories decline and prices rise.
Then why did the stock market recently set new records?
Did your media not cover the massive money printing and Quantitative Easing by the Fed? To be fair, QE has been manipulating the stock market higher for over a decade now.
The GDP number came out today for Biden and it was BELOW street expectations.
That was an increase of 33.4% over the prior quarter which was negative 35% due to the pandemic so not much of an accomplishment. Never broke 3% annual under Trump, remember when they passed the 2017 Tax cut and the economy was going to take off, Trump and Kudlow were claiming 4 or 5%.
The GDP number came out today for Biden and it was BELOW street expectations.
Nice trolling.
We had that kind of GDP growth because of ?
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