The Conservative Treehouse posted an article today about the revised economic figures for the second quarter. It is always amazing to me that under a Republican President when the revisions come, they are higher than the original estimates and under a Democrat President when the revisions come, they are lower than the original estimates, but I guess that’s the way it is.
At any rate, this is the chart of growth from the article:
1) The upward revision to nonresidential fixed investment was mostly accounted for by investment in software. (2) Imports, which are a subtraction in the calculation of GDP, were revised down. Within goods, the downward revision was widespread, the largest contributor was petroleum.
In addition to presenting revised estimates for the second quarter, today’s release presents revised estimates of first-quarter wages and salaries, personal taxes, and contributions for government social insurance. Wages and salaries are now estimated to have increased $122.5 billion in the first quarter of 2018, an upward revision of $0.4 billion. (source data)
The article also notes that President Trump’s economic policies have benefited Main Street as well as Wall Street.
The article concludes:
The economic models of the entire last generation+ are based on the assumptions of continuing globalist economics which advances, and has advanced, the interest of Wall Street over Main Street. They were driving a “service-driven economy” message.
Simultaneous to domestic capital investment inside the U.S., the ability of our nation to provide goods and services to meet the economic expansion, means less reliance on imported materials, goods and/or services. We are making more of our own stuff; exporting at a larger rate; and importing less – specifically due to the energy independence strategy within the larger Trump policy.
Every granular policy is like a small part in a larger machine. Each individual part of the MAGAnomic policy is working to compliment the larger objective.
We needed a businessman in the White House. Our current politicians don’t seem to understand economics.