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Peter Navarro on CNBC reacts to the shrinking GDP number by insisting it's actually good news because if you strip out the effect of tariffs "you have 3 percent

Peter Navarro on CNBC reacts to the shrinking GDP number by insisting it's actually good news because if you strip out the effect of tariffs "you have 3 percent growth. So we really like where we're at now." [0] https://www.cnbc.com/2025/04/30/trump-trade-navarro-us-gdp-drop-tariffs-stock-market.html https://www.cnbc.com/2025/04/30/trump-trade-navarro-us-gdp-d...

sjsdaiuasgdia 1y ago
"We have always been at war with Eastasia."
- praptak 1y ago
  "If you strip the effects of having all limbs off, I'm actually well above the top fighting condition" -- the Black Knight
aweiland 1y ago
Did he get this math from Ron Vara?
- tim333 1y ago
  It could actually make some sense - if Walmart spent their spare cash importing Chinese stuff before the tariffs rather than spending it on American stuff, I think that would have the effect of lowering GDP or domestic product. Presumably next month they'd stock up on American stuff which would cause a bounceback in the figures.
  - iAMkenough 1y ago
    Unfortunately there's more nuance, as some materials to produce American stuff can't be sourced domestically or imported affordably. Realistically we'll see a few giants pivot to less quality materials, many large and medium size businesses reduce their offerings, and a large amount of small businesses dissolving or filling for bankruptcy after not being able to weather the abrupt, completely voluntary supply chain disruptions across various industries.
  - Aloisius 1y ago
    Domestic investment spending, including retail inventory, was up quite a bit, so that seems unlikely. What dropped like a rock was consumer spending growth.
- fuzzfactor 1y ago
  Some people with a PhD can be the complete opposite of "advanced".
nancyminusone 1y ago
"the oil was spilled outside of the environment"
- jpgvm 1y ago
  What happened to the economy? Well the front fell off.
anon7000 1y ago
Ah yes, if you ignore the effect of someone punching me in the face, I’m actually doing quite well
deleted 1y ago
[deleted]
meigwilym 1y ago
Was he the guy who claimed if the USA stripped out gun crime from it's crime stats, it was lower than all the other countries?

sjsdaiuasgdia 1y ago

"We have always been at war with Eastasia."

praptak 1y ago
"If you strip the effects of having all limbs off, I'm actually well above the top fighting condition" -- the Black Knight

aweiland 1y ago

Did he get this math from Ron Vara?

tim333 1y ago
It could actually make some sense - if Walmart spent their spare cash importing Chinese stuff before the tariffs rather than spending it on American stuff, I think that would have the effect of lowering GDP or domestic product. Presumably next month they'd stock up on American stuff which would cause a bounceback in the figures.
- iAMkenough 1y ago
  Unfortunately there's more nuance, as some materials to produce American stuff can't be sourced domestically or imported affordably. Realistically we'll see a few giants pivot to less quality materials, many large and medium size businesses reduce their offerings, and a large amount of small businesses dissolving or filling for bankruptcy after not being able to weather the abrupt, completely voluntary supply chain disruptions across various industries.
- Aloisius 1y ago
  Domestic investment spending, including retail inventory, was up quite a bit, so that seems unlikely. What dropped like a rock was consumer spending growth.
fuzzfactor 1y ago
Some people with a PhD can be the complete opposite of "advanced".

nancyminusone 1y ago

"the oil was spilled outside of the environment"

jpgvm 1y ago
What happened to the economy? Well the front fell off.

anon7000 1y ago

Ah yes, if you ignore the effect of someone punching me in the face, I’m actually doing quite well

deleted 1y ago

[deleted]

meigwilym 1y ago

Was he the guy who claimed if the USA stripped out gun crime from it's crime stats, it was lower than all the other countries?