Saturday, April 29, 2017

TRUMP GDP -- as usual, the Media LIES about the facts

It's annoying to be a former Democratic County Chairman and Bernie Sanders Supporter in the Caucus, and still be in the position of defending Donald John Trump against FakeNews attacks.
But, to be fair -- I did cross paths with him when he wanted to start in Manhattan {I was Director of Real Estate for a major NYC Law Firm involved in NYC politics and we owned, managed, held the mortgages on, many NYC properties.}

That said.  The LIE is that told by NEWSWEEK, SLATE, Rachel MADDOW {MSNBC} etc. about the Gross Domestic Product [GDP] for the first quarter.

"Friday's lousy GDP report actually had some really good news for the Trump economy"  GDP for the first quarter grew just 0.7 percent, worse than Wall Street economists' expectations.
Here's the data from The U.S. Bureau of Economic Analysis, with a few extra calculations and going back to 1947.  Remember, we have all be raised to cheer the growth in America through the 1950's and into the 1960's.  But there is a reality difference.
First: we did the Quarter to Quarter Change
Second: Calculate the AVERAGE CHANGE
Third: Check that change against the Average Quarterly Change over the past Seventy {70} Years -- that growth was 1.58%.
FOURTH: And this is the goody.  Was the Quarterly Change Higher or Lower than the Average growth?  And we have that in RED. 



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