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Thread: And The Biggest Contributor To U.S. Growth in 2015 Was...

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    And The Biggest Contributor To U.S. Growth in 2015 Was...

    Some want to hold onto a past where America was a great manufacturer, but times have changed, time to move on.

    And The Biggest Contributor To U.S. Growth in 2015 Was...

    By now, not even CNBC's cheerleading permabulls can deny that the US is in a manufacturing recession: in fact, it is so bad that even the staunchest defenders of Keynesian dogma admit what we said in late 2014, namely that crashing oil is bad for the economy.

    And yet, the "services" part of the US economy continues to hum right along, leading to such surprising outcomes as a stronger than expected print in Personal Consumption Expenditures. How can this be?

    Simple: one look at the chart below should explain not only how the "services" half of the US economy continues to grow, but just which tax, because that is how the Supreme Court defined Obamacare, is responsible for healthcare "spending" amounting to a quarter of the growth in US personal consumption expenditures, almost 100% higher than the second highest spending category which was... Recreational goods and vehicles?



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    Common's Avatar Senior Member
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    What the big shots tell us about the economy and growth and what makes us go is ALL SELF SERVING BULL$#@!

    Id expect corporate america to tell us outsourcing or moving headquarters out of the US to not pay taxs.
    LETS GO BRANDON
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    Hmmm??? I'm just reporting the fact that most growth is in service, especially health care. True, Obamacare was written by and for the major corporate insurance companies.

    While somewhat off topic here another surprising fact about Obamacare: How Millionaires Get Obamacare Subsidies Intended to Aid the Poor: "This one weird trick can help even rich people buy Obamacare at sharply reduced prices. Really. A number of wealthy individuals, some of whom were "disgusted" with Obamacare when it first went into effect, nonetheless are now taking advantage of federal financial aid available under that health-care law to help significantly reduce their monthly insurance premiums."
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    Quote Originally Posted by Common View Post
    What the big shots tell us about the economy and growth and what makes us go is ALL SELF SERVING BULL$#@!

    Id expect corporate america to tell us outsourcing or moving headquarters out of the US to not pay taxs.
    Change the tax code to make it advantageous to keep jobs and profits here. They are not doing anything illegal.
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    Cool

    Granny says, "Dat's right - the Donald gonna fix dat...

    GDP Growth Has Not Topped 2.7% in Record 11 Years
    April 28, 2017 | Annual growth in the real Gross Domestic Product of the United States has not exceeded 2.7 percent for a record eleven straight years, according to data published by the Bureau of Economic Analysis.
    In the fourth quarter of 2016, according to the BEA, real gross domestic product grew at an annual rate of 2.1 percent. But for the full year of 2016, it grew by only 1.6 percent. The BEA’s “advance” estimate for the first quarter of 2017 showed growth in real GDP slowing to an annual rate of 0.7 percent. The 1.6 percent growth in real GDP for 2016 is the slowest annual economic growth the United States has seen since 2011, when real GDP also grew by 1.6 percent. The last time real GDP grew by 3.0 percent or more was 2005, when it grew by 3.3 percent. In the last eleven full years—from 2006 through 2016—the strongest annual growth in real GDP was the 2.7 percent recorded in 2006. In the last ten full years--from 2007 through 2016--the strongest annual growth in real GDP was the 2.6 percent achieved in 2015.


    The Bureau of Economic Analysis has calculated annual growth in real GDP going back to1930. In the era since then, the second longest stretch when annual growth in real GDP did not exceed 2.7 percent was the four-year stretch from 1930 through 1933. In those years, real GDP declined by 8.5 percent, 6.4 percent, 12.9 percent and 1.3 percent. But in 1934, the U.S. economy bounced back, growing by 10.8 percent, followed by 8.9 percent growth in 1935, 12.9 percent growth in 1936, and 5.1 percent growth in 1937. In 1938, it declined by 3.3 percent. In the 87 years from 1930 through 2016, the longest stretch of years in which the annual growth in real GDP never dropped as low as 2.7 percent was the seven years from 1983 through 1989. During that seven-year span, the slowest annual growth in real GDP was 3.5 percent—a level it hit in both 1986 and 1987. President Ronald Reagan took office in January 1981 and left in January 1989.

    In the eight years of 2009 through 2016, when President Barack Obama was in office, real GDP never grew by as much as 2.7 percent. In that era, the highest level of annual growth in real GDP was 2.6 percent in 2015. By contrast, in the eight years from 1993 through 2000, when President Bill Clinton was in office, the annual growth in real GDP dropped as low as 2.7 percent twice (in 1993 and 1995), but never dropped below that level. (As CNSNews.com reported in January, the eleven years from 2006 through 2016 is also the longest stretch since 1930, when the BEA started calculating annual growth in real GDP, when real GDP did not grow by as much as 3.0 percent.)

    http://www.cnsnews.com/news/article/...ecord-11-years

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    Too much money printing going on round here.
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    Mentioning "O'bamacare" as a contributor is misleading for a number of reasons.

    First, it's a regulation. Regulations do not produce. Second, the insurance industry is a different animal then the delivery of healthcare.

    FWIW
    my junk is ugly

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